Citation
The Tribune

Material Information

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

Subjects

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

Notes

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

Record Information

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

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volume: 104 No.283

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BAHAMAS EDITION

WEDNESDAY, OCTOBER 29, 2008










Mario Miler aris 8

accused receives bail

One of two brothers
appears before Acting
Justice Elliot Lockhart

® By CHESTER ROBARDS
Tribune Staff Reporter

appear before the courts tomor-
row for his bail hearing.

Ryan had been on bail
throughout hearings into the case,
only appearing with his brother
during court appearances. Then
he was remanded to Her

ONE of two brothers accused
of killing Mario Miller, son of for-
mer Trade Minister Leslie Miller,
in 2002 received bail yesterday in

the amount of $30,000.
Murder accused Ryan Miller
went before Acting Justice Elliot

Majesty’s Prison, being led to
court handcuffed to his brother,

as his bail ended with completion
of the trial. ~
However, Lee has been incar-

SEE page eight

Lockhart for his second bail hear-

ing since being arrested. ;
Ryan’s brother Ricardo Miller,

alias Tamar Lee, is expected to

Former Cabinet minister
speaks on state of the PLP

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

FORMER MP and Pindling-era Cabinet minister George Smith said:

yesterday that the PLP must look “honestly and squarely” at what
needs to be done if it wants to win the 2012 general election.
Speaking with The Tribune yesterday, the former Exuma MP said he

believes the PLP would be the government today if certain members of

the party had not put the leader, Perry Christie, in such a “difficult
position” leading up to the last election.

SEE page eight

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Jitney, taxi
drivers to be
allowed to
raise fares

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

EFFECTIVE from
November 1, Bahamians
can add public transport
to the list of things they
have to pay more for this
year than last.

Several years after jitney and
taxi operators began complain-
ing that it is about time they were
able to increase their fares and
“almost a decade” after jitney dri-
vers were last allowed to do so,
Minister of Works Neko Grant



yesterday announced that
both they and taxi drivers
are to be allowed to raise
their fares.

Mr Grant said that jit-
ney fare increases “will

cents” while taxi-drivers,
who were previously
granted the opportunity
to raise prices in 2001,
will now be able to add
an extra “three to five” dollars
on to their tolls.

In a further reform to the pre-
sent system, six new but as yet
unspecified bus routes will also

SEE page eight

range from 25 to 50 +

Ministry targets improving
quality of visitor experience

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

IMPROVING the quality of visitor experience in |_
the Bahamas is the central thrust of the Ministry of [©
Tourism’s plan to revive the weakened industry,
the country’s tourism chief said yesterday.

And as arrivals ta the country dwindle - tourist
arrivals fell by almost 10 per cent during July,
according to statistics - the Ministry of Tourism is MINISTER OF
now focused on attracting the viable Asian market Tourism Vincent
to fill the industry’s thousands of vacant rooms. —_ Vanderpool-Wallace

Minister Vincent Vanderpool-Wallace, who spoke
with The Tribune briefly while attending the Florida-Caribbean Cruise
Association meeting in Trinidad yesterday, said his ministry was work-















THIS GAPING ditch on Bay Street was an eyesore for tourists and a
headache for motorists yesterday, when it created long lines of traffic. No
one seemed sure why the hole was there, but some criticised authorities
for doing nothing to rectify the problem, other than placing a traffic cone
next to the obstruction.

Bahamians are ‘scaling
back’ on overseas travel









@ By TANEKA local travel agency reports.
THOMPSON Ernestine Sherman, general
Tribune Staff Reporter manager of the Destinations chain,

said there has been a decline in
bookings for the holiday months.
She noted that traditionally around
this time families took advantage
of school mid-terms to book vaca-

SEE page eight

tthompson@tribunemedia.net

AS THE economic situation
continues lo worsen for those
employed in the tourism and con-
struction industries, Bahamians are
scaling back on leisure getaways
outside of the country, at least one



\ British
*’ American





SEE page eight

First moves towards stadium
construction set to start Monday

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

A YEAR after it was initially
expected to be completed, the
government has advised China
to begin shipping their heavy
construction equipment to, the
Bahamas on Monday, ready to
begin construction of a new
national stadium before the end
of the year.

The announcement was yes-
terday greeted enthusiastically
by president of the Bahamas

nn ve

Olympic Association, Welling-
ton Miller, who described the
news as “a great thing.”

“That’s long overdue. Sports
in the Bahamas need it, so the
sooner it happens, the better. I
wish the construction would
start tomorrow.”

Former Prime Minister Perry
Christie accepted the offer from
the Chinese government to pro-
vide $30 million to build the
national stadium during a visit
to China in 2004.

SEE page eight




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Call for more action

THE TRIBUNE



to ease financial woes

m@ By LLOYD ALLEN
Tribune Staff Reporter



THERE is a growing consensus that although
government has introduced temporary relief plans,
a comprehensive approach is needed to ease the
average Bahamian’s financial woes.

With three relief schemes announced so far, The
Tribune canvassed downtown Nassau yesterday for
some feedback.

Local taxi driver Kenneth Hanna called the gov-
ernment’s decision to cap the fuel sm cuerae at 15
cents per kilowatt hour “a beautiful thiny” — as

“everybody right now struggling to make it.”

“As a taxi driver, we be out here every day 24/7,
and sometimes I don’t even get one job. The gov-
ernment is trying to help a lot of people who can’t
help themselves, (but) more is still needed.”

Store manager Deon Knowles said: “The change
from 22 cents to 15 cents is not that dramatic, and I
think that it’s really up to the consumer to be more
conservative with their use of electricity. More
efforts are needed yes, but then again these are only
temporary relief efforts that don’t really solve the
problem, it only off-sets the problem for a short
period of time.”

Banker Torrien Rutherford added: “We really
can’t assume what’s going to happen later; as a
nation it’s important to help those that need help. I
think there has to be some consideration of the
long-term effects of this, because you know if you
continue to give, it’s going to leave a aoe some-
where.”

Bus driver Wendal Davis said: “Right now even
though this plan seems all fine and dandy, later on
down the road when the bills really start to pile up,
then the government is going to say they can’t help
us no,more, because they already put in so much in
the beginning, and wouldn’t be able to do the same
later on down. Right now people just need to hold
fast, and save.”

Bahamas Chamber of Commerce president Dion-
isio D'Aguiliar told The Tribune yesterday that

HAMM CUnare



although government initiatives are appreciated,
the bottom line is that Bahamians need to change
their spending habits.

He said: “I think at the end of the day even if the
surcharge goes to 15 cents, it’s not going to be much
of a relief. It was a nice thought if oil prices had
remained high, but the market is taking care of this
particular issue.’

Concerning the new payment scheme for those
behind on electricity bills, Mr D’Aguiliar said:
“Many consumers don’t pay their bill in full, and not
paying in full lead to this present situation.”

Mr D’Aguiliar explained that there has to be an
national effort to reduce household consumption
and energy usage. With many looking for a way out

. of their economic troubles, Mr D’Aguiliar said,

“there has to be an analytical approach in reducing
the burden of the average Bahamian.”

_On September 17, Prime Minister Hubert Ingra-
ham instructed BEC to reconnect 5,000 persons
with electricity bill debts. He arranged for BEC to
collect a minimum of 25 per cent of the amounts
owed by October 10, and allow a two-year pes
plan for collection of the balance.

In addition to this and the fuel surcharge cap, a
third relief plan is set to start in November which will
provide. assistance for mortgage holders struggling to
make payments.



Police believe drugs behind murder

@ BY DENISE MAYCOCK
Tribune Freeport
Reporter

dmaycock@tribunemedia.net

FREEPORT - Grand
Bahama Police believe that the
motive behind the murder of 35-

a ee
EXTERMINATORS

FOR PEST PROBLEMS
PHONE: 322-2157



year-old Coral Reef Estate resi-
dent Donald Phillippe was drug
related, a senior police official
reported.

Mr Phillippe, a resident of No
77 Coral Reef Square, was shot

‘to death at his home early Sat-

urday morning by three gun-
men. Chief Supt Basil Rahming
said police have launched an
intense investigation into the
matter.

“This matter, which is being
classified as Grand Bahama's.
eleventh homicide for this year
and which appears to be drug
related, is presently under inten-

' sive investigation,” he said.

Mr Rahming said Mr
Phillippe was at his home,
where he resided with his wife
and children, when he was
attacked by three men at
around 4am. He said.the sus-
pects interrogated Mr Phillippe
for some time. Gunshots were
later heard being fired as the
suspects fled the area on foot.

Supt Rahming said when
police arrived at the scene, they
found Mr Phillippe lying dead
on the front room floor. His -
wife and young children were
unharmed.

BRON pa ee ee
October 29th, 1958 - October 29th, 2008

ars -

Married Fifty Ye



To God be the Glory!



Ag

THE TRIBUNE WEDNESDAY, OCTOBER 29, 2008, PAGE 3. fy

In brief “| h ave nothin - Indie star Nyee Moses to__|'

© In brief jini sarge Mos
to apologise for’

Man shot by

police charged

with several

offences

AS the deadline to apologise

to Appeal Court president
Dame Joan Sawyer draws near,
justice campaigner Tanya Cash

FREEPORT —- A man who
was shot last week by police
was charged with several
offences in Freeport Magis- | tepeated yesterday that she has
nathing to apologise for.
Mrs Cash, appearing as guest
, on the radio programme. ‘The

trate’s Court yesterday.
Way Forward’ on GEMS

Lynden Flowers, of 311
105.9FM with her husband

Melbourne Crescent, Hud-

son Estates, appeared before
Greg, has been ordered to pub-
lish an apology in a newspaper

Magistrate Debbye Fergu-
by tomorrow, October 30, or

son.
He was charged with
face imprisonment.
“I know my steps are ordered

assaulting a police officer
with a dangerous instrument,

by the most high God and I
must go through what I have to

namely a knife, intentionally
and unlawfully causing harm

go through according to His
will,” she told listeners.

to a police officer and caus-
Repeating that she has no

ing material damage to a

police depot shirt, the prop-
idea what she is supposed to be
apologising for, Mrs Cash said:







m@ BY ALEX MISSICK

NEW indie artist and vocal
sensation Nyee Moses (pro-
nounced nigh-ee) will be the
feature artist at the Princess
Margaret Hospital Founda-
tion fundraiser concert in aid
of the Princess Margaret Hos-
pital on November 22 along
with a host of other Bahami-
an jazz artists.

The Princess Margaret

~ Hospital Foundation is-a non-: .
profit organisation, established to strengthen the hospital’s abil-
ity to provide quality healthcare.

The concert, entitled the “Miracle Concert” has several objec-
tives, but its primary goal is to generate more than $500,000 for the
purchase of desperately needed hospital equipment, including
beds and medical equipment. :

Ms Moses, a young woman from upstate New York by way of
Philadelphia, has captivated audiences with her migration through

‘ acluster of cultures and sounds that reflect the diverse interests
of this lover of world music.

When first hearing Nyee’s smooth sounds and soulful tone,
many will immediately draw comparisons to another soulful
siren, Sade. However don’t expect carbon copy; you will not get
it from Nyee.

Justice campaigner Tanya Cash maintains
her stance as court deadline looms



erty of the Bahamas govern-
ment.

It is alleged that on Octo-
ber 19 the accused attempted
to stab a police officer.

Flowers pleaded not guilty

_to the charges.

Magistrate Ferguson
granted bail and adjourned
the matter after instructing”
the prosecutor to submit a
report on the mental state of

“I just couldn’t believe I was
even in a court of law. But God
is in charge, and He is in con-
trol.

“And I will say today and
publicly that I have no reason to
apologise.’They say | am in con-
tempt of court because of a
matter that extends back from
2006 when I talked about the

Greg and Tanya Cash

jumped from $10 or $15 to $500
or $600. And that is a contempt
matter?

“I am calling now on the
prime minister to speak up. I
am calling now on the chiet jus-
tice to speak up. This is not jus-



tice in this country!” she
exclaimed.

Mrs Cash thanked support-
ers for their good wishes and

even those who petitioned her .

to give in and apologise for the
sake of her family.

Ms Moses said: “My inspiration has been artists such as Seal,
Billie Holiday, Marvin Gaye, Sade, Damian Marley, Sting, Bob
Marley and Ziggy Marley to name a.few. My music is about my
life growing up and reflecting on the things I experienced.”

Ms Moses said she is very excited to perform and participate in

the concert. “When people like your music, that’s great, but
where do you go with it? When you use the music you make as a
vehicle to help cure, heal and raise money, you are helping with
your music — that’s where the reward is,” she said. © »

Multimedia professional, jazz enthusiast and executive director

for Ivory Global Promotions Rosco Dames, said Nyee was first on
his list.

“When the hospital approached me to put together a fund
raising concert, the first person came to my mind was Nyee
because of her music, it’s broad appeal and because it’s not just
jazz. I thought it would bea broader appeal for that kind of
audience because you can bring your kids to this one to support
the hospital naturally, but at the same time expose them to music
that they can like,” Mr Dames said.

Bahamian artist such as Lou Adams Jr, a trumpet player, and
Mario Lord, a percussionist, will be opening the concert for
Nyee. The venue for the concert will be announced at a later date.

* the defendant. astronomical filing fees which



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aan 5
bic an te ae
Sean rar

Pale naary

bel tnat viele]

good news for ex-COB lecturer



PANN asec

SARAH PALIN is not to
everybody’s taste, but she’s
certainly in the good books of

former College of the
Bahamas lecturer Stephen
Lay.

‘Mr Lay is part-owner of the
Alaskan publishers Epicenter
Press, whose biography of
Palin has now jumped to num-
ber three on the New York
Times bestseller list.

Until Palin’s sudden rise to
national prominence, Epicen-
ter saw itself as a regional pub-
lisher of short to mid-run
books.

Five thousand copies sold
was considered a solid return
on their investment.

But ‘Sarah’ by Kaylene
Johnson, first published five
years ago, has pushed their





distribution resources to the
limit, boosting revenue mas-
sively and making Epicenter
the little publisher everyone
in the business suddenly wants
to know.

Mr Lay, who was journal-
ism lecturer at COB for three
years before joining Dupuch
Publications as a senior edi-
tor, has written a couple of
titles himself for the firm he

_ joint owns with two others,

including one on Alaskan cui-
sine. ;

But none of them saw Epi-
center as anything more than
a moderately successful pub-
lisher of Alaskan titles - usu-
ally works on dog-sledding,
survival techniques and eski-
mos.

However, John McCain’s

decision to choose Alaska
governor Palin-as his vice-
presidential running mate
changed everything.

Suddenly Epicenter’s biog-
raphy - the only book on Palin
in print - was wanted by every
book chain in the land.

Within days, stocks had run
out and tens of thousands
more copies were on order
from the printer. Since then,
the demand has been non-
stop.

Mr Lay, who now teaches
in Thailand, had to watch
from afar as the small pub-
lishing house struggled to cope
with orders from Maine to
New Mexico as Palin made
her initial powerful impres-
sion.on the political scene.

The demand is probably

Metta \y

PSN TRC eTeSee Ss WA
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NA ;
‘ ; d

AUTHOR Kaylene Johnson (left)

chats during a book signing event
for “Sarah: How A Hockey Mom

Turned Alaska’s Political Establish-

ment Upside Down” at Title Wave
Books Saturday, Sept. 20, 2008 in
Anchorage..A.week.after Palin's bi
announcement in August, 80,000
new copies of “Sarah” hit stores.
“Sarah” is now No. 3 on The New
York Times paperback nonfiction
best-seller list.

Anchorage Daily News,
Erik Hill, AP Photo

one of the biggest ever for a
publisher outside of the New
York mainstream.

The book has hit the best-
seller lists of not only the New
York Times, but also USA
Today and Publishers Weekly,
the ‘Bible’ of the book busi-
ness in America.

It covers Palin’s early life as
ambitious student and bas-
ketball star Sarah Heath, then
moves on to her days as May-
or of Wasilla, concluding with
her various struggles as
Alaska’s governor.

Mr Lay, who used to teach





at the University of Alaska, -

knew Sarah slightly 20 years
ago when she was a junior TV
anchor in her home state.

He described her as
“straightforward and honest”
and predicted when she was
first picked by McCain that



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on Tuesday, 25th November, 2008










she would make a big impres-
sion on the presidential race.
As it happens, she’s also
made a big impression on his
company’s bottom line.

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PAGE 4, WEDNESDAY, OCTOBER 29, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE






























The Tribune Limited

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-199]



EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Difficult times ahead

THE ATLANTIS resort, whose owner
Sol Kerzner took a wager on the
Bahamas about 15 years ago and won,
is now, like resorts around the world,
suffering from the global melt down.

Accustomed to having a full house, the
fall-off in Atlantis’ guests has been dra-
matic.

It was Sol Kerzner and his late son,
Butch, who came to the Bahamas at a
moment when there seemed little hope
for the future of these islands.

The Kerzners quickly turned despair
into hope.

They decided to build a resort that
would make the world sit up and take
note.

At the time the Bahamas was no longer
a sought-after tourist destination.

It was Kerzner’s unique Atlantis that
attracted other resort investors to the
Bahamas, thus starting a building boom
that created a vibrant economy, which
many believed could not fail.

However, last week, in an interview
with The Nassau Guardian, Kerzner’s
president and managing director, George

.Markantonis admitted that, despite indus-
try analysts assuring him that Atlantis is
faring better than other resorts, the pre-
sent downturn is having “a much more
far reaching impact than 9/11 did in









































Compared to the same periods in pre-
vious years, bookings for Atlantis prop-
erties are down. *

He admitted that although offering
special promotions on Atlantis’ web site,
they are saving their marketing efforts
for better times.

There were practical reasons for this.

“We have marketing efforts,” Mr
Markantonis told The Guardian, “but
we’re not putting them in place right now
for a very strong reason.

“There’s no point in wasting marketing
dollars when there are no people out
there looking to travel.

“It would be foolish to throw that out.
We intend to start our marketing cam-
paigns again in full earnest after Novem-
ber 3.”

We agree with Mr Markantonis that

the downturn in our tourist industry has
nothing to do with America’s November
4 presidential elections.
* However, we do believe that much of
the present negative publicity will be
eliminated from the newspapers and air-
waves as soon as a new president is
installed in the White House.

We also believe that a glimmer of hope
will start to shine again if Americans are
encour ithout a



2001.” ; i negative election campaign playing inter-
Up until August, Atlantis was doing ference — and rebuild their economy.
very well. Mr Markantonis advised hotel workers,

That steady climb was interrupted by
Hurricane Ike, followed by the collapse
of America’s financial markets.

Mr Markantonis denied that Atlantis
— the Bahamas’ largest private employ-
er — has had significant staff layoffs.

Instead, his company has reduced staff
hours to two to three days.a week so that
at the end of the week all staff will take
home a paypacket, albeit reduced.

He pointed out that September and
October have always been slow months,
when staff levels have been reduced
according to occupancy. ‘

However, he was saddened because he
didn’t think that this year or next year
were “going to be restricted to the
months of September and October.”

to brace for difficult times ahead — times
that could be of considerable duration.
He advised them to be conservative and
not to spend foolishly during these lean
years.

He also advised Bahamians to help
themselves by helping the nation and the
industry that puts bread on their tables. -

He urged them to throw themselves
“with devotion into the few customers
who are coming here to these islands and
completely blow, them away with friend-
liness and service.”

“We all have a responsibility now,”
he said, “to set a service standard so high
that those who really are travelling will
want to come here again.”





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A student’s plea
to Govt to modify
straw market

EDITOR, The Tribune.

Please allow me, a concerned
youth some space in your news-
paper in order to express my
views publicly as they relate to
the present conditions of the
straw market.

It is with great regret that I
convey my deepest concerns for
the existing condition of our his-
torical straw market in down-
town, Nassau.

It is quite evident that many
individuals before have
expressed with great disgust the
present conditions of one of the
most popular tourist attractions
here in Nassau; however, today
1 am pleading with the govern-
ment for their assistance in pre-
venting the downfall of this
great industry.

It would be truly dishearten-
ing to see that one of our oldest
industries will lose its reputa-
tion and magnetism, because of
a little desertion not only by the
government, but also by ven-
dors who have made the straw
market their means of making a
stable living.

There is no explanation as to
why the government allowed
persons to tarnish the nature of
a place that has become so
applicable with cultural experi-
ences here in the Bahamas.

Traditionally the straw mar- .

ket would have specialised in






HgwyAs

letters@tribunemedia.net

straw products or all things
native to our country, includ-
ing hand-made bags, hats, slip-
pers, dolls, fabrics, jewellery and
wood carvings.

Things like paintings and
home-made jellies and jam
could also be found at the straw
market.

Today, our straw market can
be compared to the likes of flea
markets you see in places like
Mexico, Europe, Hawaii and
even the United States.

After the fire in 2001, the
straw market was never built
back to its splendour; moreover,
today it is a sight for sore eyes,
and many visitors make blogs
that are viewable over the inter-
net announcing to other
prospective visitors that they
are unimpressed by the straw
market’s conditions.

They complain that the tent
that the market currently sits
under is rodent infested, hot
and cramped with narrow aisles.
Intrusive vendors make it dif-
ficult to pass as they sit and
block walkways.

These conditions make it very
uncomfortable to shop. Some

visitors say that the market is
only great for getting good
knock-off bags and watches for
low prices.

The government needs to
revise the problem with the
straw market.

The overall structure is not
the only element that needs ,
reconstruction,

We need to put a stop to sell-
ing imported items in our mar-
ket.

The vendors decmmseives need
to be reviewed, because most
are not eligible to be working
with the public.

Furthermore the majority of
persons working in the market
at these present times are not
even Bahamian nationals; they
are Jamaicans and Haitiaus who
tend to be very unfriendly and
unprofessional to visitors.

I am one of few, who strong-
ly believe that if the govern-
ment was to begin to issue
licenses to qualified persons to
be in the straw market area, the
rules and policies that govern
all businesses whether big or
small in our country would be
adhered to, and the straw mar-
ket would be able to maintain
its significance in the Bahamian
culture.

S A RICHARDS"
Nassau,
September, 2008.

You should know gasoline is a
‘price controlled’ item, Ms Grant

EDITOR, The Tribune.

EITHER Verna Grant real-
ly doesn’t know any better or
she is totally naive and thinks
we, her constituents, are stu-
pid.

I saw a Freeport News front
page story, published Satur-
day, 18th October, where Ms
Grant was complaining about
the high cost of gasoline. She
was, in effect, accusing gas
retailers of price gouging, but
doesn’t she know that the
price that gas is being sold for,
locally at the pump, is con-
trolled and approved by her
FNM government? And isn’t
she a part of this government?
Pray tell me, to whom was she
complaining?

Ms Grant, in the newspaper
report, made the point that
anytime the price of crude oil
increases, immediately the
price of gas at the pump
increases but consumers, she
said, don’t enjoy reciprocal
price decreases, when the
price of crude oil decreases.

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She inferred price gouging on

the part of gas retailers and
called on them to be mindful
of the bad economic times
people are going through.
When it was explained to her,
that a possible reason for that
situation occurring might be
that retailers are still being
sold supplies from an old
stock, as opposed from the
new stock, she seemed to
ignore the suggestion and

shrugged it off as a likely sto-.

ry.
Surely you jest, Ms Grant,
pretending not to know that

if a dealership imports a ship- .

ment of fuel at a certain land-
ed cost, he or she must sell off
that entire shipment at that
locked-in price before chang-
ing the price on any subse-
quent new shipments import-
ed: The invoice cost and the
amount of customs duties paid
on the old stock do not change
when a new shipment is
imported at a different price,

whether that price is higher
or lower. The government
must allow the importer to sell
off the old inventory, at the
old price before the new con-
trolled price change takes

’ effect; don’t you know that Ms

Grant? This is all so very ele-
mentary. It is no wonder, then,
why we are in this leaderless
state.

I am appalled that the
Freeport News would feature
this nonsense on its front page.
Isn’t there someone in that
establishment who knows bet-
ter?

Couldn’t the reporter
remind Ms Grant that gaso-
line is a “price controlled”
item? That it is her govern-
ment who dictates the mark
up on these fuels?

FORRESTER J
CARROLL
Freeport,

Grand Bahama,
October 2008.

NOTICE

NOTICE is hereby given that ROLECK JEAN DUMEL

of NASSAU STREET,

NASSAU, BAHAMAS, GT2291

is applying to the Minister responsible for Nationality and
Citizenship,

for registration/naturalization as a_ citizen

of The Bahamas, and that any person who knows any
reason why registration’ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 22nd day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.
















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THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 5



ia ix
© In brief Churches ‘should 90 beyond Caer oekomcchra
- the usual’ to help members

SW) been the premier union in the’

Improvements
to Abaco's
Bay Street are

‘progressing well”

m@ By KATHERYN
CAMPBELL

DURING a stopover in
Abaco last week, Works and
Transport Minister Neko

Grant inspected a road works

project underway in Marsh
Harbour.
On September 12 the gov-

ernment signed a contract for
$162,343 with Larry Williams :

of Larry’s Construction

Company in Dundas Town to

resurface 2,000 feet of Bay
Street from Arawak Agency
to the freight dock.

The contract includes
removing existing pavement
and quarry, levelling and
compacting the base and
installing six-inch concrete
slabs.

The work, which also
includes installation of light-
ing, is expected to take six
months to complete.

Following a brief inspec-
tion, Mr Grant said: “Just

over five or six weeks ago we :

awarded the contract for the
restoration of Bay Street.
“Bay Street was originally
a concrete road with some
work done with asphalt. We
felt it was taking away from

Marsh Harbour and we want !

to maintain the old charm of
the island. Hence, we decid-
ed to restore the road with
concrete.

“Work is progressing well
and we expect on time com-
pletion and quality work,”
the minister added.

Mr Grant was accompa-
nied by Anita Bernard, per-

manent secretary in the Min-

istry of Public Works and
Transport; Gordon Major,

_ acting director; John Schaef-
fer, area engineer and
Theophilus Cox, administra-
tor for North Abaco.

Florida polls
open later after
Gov Crist
changes mind

M TALLAHASSEE, Fla.

SWAYED by record :
turnout, Gov. Charlie Crist :
changed his mind and signed :
an executive order Tuesday :
that immediately extended :
early voting hours in Florida, :
a likely swing state in the :
presidential election, accord- :

ing to Associated Press.

Crist had said earlier in
the day that he didn't think :
the law allowed him to add :
hours. But he said he recon- :
sidered after consulting with :
his lawyers and political :

leaders of both parties.

"This is not a political :
decision," Crist, a Republi- :

can, said at a hastily called

news conference. "It's a peo-

ple decision."

Crist said he was justified

in adding hours regardless
of what the law says because

of long lines at polls and new }
voting machines in some }

counties are causing delays.

His order keeps voting :

sites open from 7 a.m. to 7

p.m. on weekdays, four }
hours longer than state law }

specifies. It also requires

that they be open 12 hours }
this weekend, also four :
hours longer than the law :

says.

decide how to divide the

weekend hours in each
county. Early voting ends at :

7 p.m. Sunday.
Before deciding, the gov-

ernor said he had consulted
with Florida House Democ-
ratic Leader Dan Gelber, :
Secretary of State Curt }
Browning and had spoken :
earlier with GOP legislators :

but not on Tuesday.

"It was the right thing to
do," said Gelber of Miami :
Beach. "I believe the gover-

“nor properly exercised his

authority to address this sit- :

uation."

Florida is again key this
presidential election season,
with 27 electoral votes — 10 :

percent of the 270 needed
to clinch the election. The
state's disputed election in

2000 gave the presidency to :
George W. Bush, and he :

captured the state in 2004.
This year, Republican John
McCain and Democrat
Barack Obama are locked
in a close race.

Local election officials will!



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

LOCAL churches should “go beyond [
the usual” to extend a helping hand to |
their members who are bearing the
brunt of the economic downturn, said

Bishop Simeon Hall.

The senior church leader noted that
there are more than 3,000 churches in
the Bahamas and that “99 per cent” of
working Bahamians are church mem-

bers.

“It would be interesting, if say, we
were to get just a hundred of them to
put up $1,000 each. That could put a
dent in assisting those who’ve been waylaid by this

economic tsunami.”

“Churches are there to help people and the
majority do a fairly good job, (but) as in this case
with the hotel union, you have to go beyond the

usual.”

He said that his church sees at least eight peo-
ple a day present themselves to plead for financial
help, “and the majority of them are not mem-

bers of our church.”

Bishop Hall said he believes churches can
afford to make such payouts at this time.

He was speaking at Worker’s House on Mon-
day, where he commended the Bahamas Hotel
and Allied Workers Union and other board
trustees on the decision to make millions of dol-
lars from the reserves of the Bahamas Hotel and
Allied Industries Health and Welfare Benefit

Fund available to its members.

“T think it underscores the fact that (the
Bahamas Hotel and Allied Workers Union) has

Bahamas, and if I may, it says that
people can do good business with
integrity and stand with their mem-
| bers in a time of crisis. I think it shows
|) a degree of sensitivity and empathy
for workers.

“We must be sure that the workers
who form the backbone of this com-
munity are in fact the recipients of all
_| that we could do at this time.”

Up to 6,000 hotel workers who have
suffered from having their work weeks
reduced to three days or less in Sep-



Bishop Simeon Hall

to benefit from $1,000 each.

The money from the fund will be
used to help pay the bills and meet other subsis-
tence needs of union members.

Bishop Hall added, however, that he thinks it is
“unfortunate” that those who have already lost
their jobs in the industry “cannot benefit” from
the payout.

The senior church leader also gave his opinion
on the source of the world’s economic woes,
which are now also affecting the Bahamas.

“Someone said this started because
of ‘bad loans’,” Bishop Hall said referring to
the sub-prime mortgage crisis in the United
States.

But, according to the senior church leader, “the
real cause of this in the US is ‘predatory loans’
and greed and corruption.”

“Before it’s over, I hope somebody is brought
before the world court and tried for crimes against
humanity. I do not say that lightly, because I
think these things go on and we blame everyone
but the right persons,” he said.

Concerned mother aims to
help Grand Bahama go green

A CONCERNED mother in
Grand Bahama is cleaning up her
“urban footprint” by helping an
entire island think twice about the
environment.

Dalia Feldman, mother to two
young boys at the Lucaya Inter-
national School (LIS), spear-
headed the concept of designing
and selling reusable grocery bags
in Grand Bahama.

“T have always been concerned
about the effects we have on the
environment as a community. We
don't recycle and it saddens me
to see trash on our beaches and in
our oceans,” said Mrs Feldman.

“On top of that, plastic grocery
bags seemed to be taking over my
kitchen. Whenever possible I
reuse plastic containers, jars and
grocery bags, but I still had an
overflow of bags.”

On recent trips to Abaco and
Nassau, Mrs Feldman said she
noticed that the reusable bags
seemed to be everywhere and
appeared to be a sensible solu-
tion.

“So I surfed the net to find
‘Green Bag’ manufacturers and
then I approached the school
about my idea. Last year, Saman-
tha Fern and I held a drawing and
logo contest for students in grades
one through six.”

The winning design was created



LOVEIOY







tember and October are now eligible .

for grand banquet

THE 1968 class of Govern-
ment High School is complet-
ing the year-long celebrations
of its 40th anniversary with a
bang.

The event, a grand banquet,
is set to be held at the British
Colonial Hilton.

It is hoped that 150 persons
will attend. Tickets are $100
and classmates are being asked
to assist in selling the tickets.

Dr Rhonda Chipman-John-
son, chairperson of the GHS
class of 1968,-said that she and
her classmates have been the
beneficiaries of “an excellent
education.”

“The GHS provided us with
an excellent educational foun-
dation and the social skills
needed to be successful in life
— a high level of literacy,
numeracy, etiquette, healthy
competition, discipline and
integrity.

“We believe that we should
contribute to the society
because we have benefitted so
much. As a result, over the
years we have made several
donations to the present school
and have conducted a career

seminar for the 12th grade of |

the GHS. Monetary donations
have also been made to the
Cancer Society, BASH and the
Red Cross. When necessary,
we have also assisted class
members,” she said.



Dr Chipman-Johnson said
that Government High today
is a very different school than
it was in the 60s.

“Many classmates are very
disappointed in how the school
has changed and some no
longer wish to be associated
with it. However, many of us
believe that we should contin-
ue to work with the school and
assist where we can.

“Somehow, we have to bring
batk the high standards, the
spirit of competition and pro-
vide opportunities for students
to stretch their minds.

“There is far too much
mediocrity in our society
today,” she said.

During the year of celebra-
tions, which began in October,
2007, the class of 1968 has held
steak-outs, church services, a
walk-a-thon, and participated
in a Scandinavian cruise.

Saturday’s banquet is
expected to be attended by
former GHS students from the
classes 1964, 1965, 1967, 1968,
1969, 1971, and 1979 and a few
others. Sir Arlington Butler,
former mathematics teacher at
the school in the 1960s will be
the speaker. }

Other teachers and stalwarts
will also be in attendance,
including Dr Keva Bethel,
Marjorie Davis, Tino
Christofilis and Hugh Sands.

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by Haley Kennedy and the logo
was created by Shannon Millard.

The LIS students will now sell
the bags to the Grand Bahama
public to cover the cost of the bags
and shipping to the island.

Mrs Feldman’s main goal is to
get people to use these bags, not
to make a profit, so she turned to
another sponsor to keep the price
low.

“T called Jeff Butler, as I knew
him personally and knew about
his keen interest in Grand
Bahama. He helped us without
hesitation and agreed to pay for
half of the bags, pay the total duty
costs and take care of shipping,”
she said.

Mr Butler, who is well known
for his philanthropic work, was
pleased to lend a hand to the stu-
dents.

“It was a no brainier, the
reusable bags are all over the
world, it was time for them to
come here and I was so pleased
that I could team up with a school
to help Grand Bahama go green.

“This concept is something we
must all embrace and I will
encourage my patrons to buy and
use these bags in my store and
any store they shop in,” he said.

In addition to selling the bags,
LIS students from grades four,
five and six are also tagging each

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“ROSETTA ST. TEL: 325-4944



bag with environmental facts, so
people know why and how they
are helping the environment.

“We are studying the environ-
ment and we have researched the
effects and dangers of plastic bags.
We found out that it takes 450
years for a plastic bag to break
down, 450 years,” said Tara
Doherty, a grade five teacher at
LIS.

The ‘green facts’ are being hand
tagged on each reusable bag and
have been donated by another
parent, Paula Farrington of
Freeport Advertising and Print-
ing.

The LIS reusable bags will be
sold at the school, at Butler’s Spe-
cialty and by LIS students, and
will retail for $2.50 per bag.

Mrs Feldman is hoping that
these efforts will make a real dif-
ference in Grand Bahama, and is
pleased that her children and oth-
ers are now realising the impact
humans make on the earth each
day.

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PAGE 6, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE





C) sizinaty known as
economic individual-

ism, The Routledge Dictionary
of Economics (2000) informs us
that “capitalism” is:

1. A socioeconomic. system of
production using roundabout
methods of production (round-
about method of production is — a
method of production which uses
capital goods to increase produc-
tivity of factors of production).

2. An economy based on pri-
vate enterprise. .

3. The use of markets and not
planning to allocate economic
resources.

4. Production motivated by the
profit motive.

However, with the mortgage -

debacle around the world creating
havoc in financial markets, capi-
talism is under attack.

One side of the debate says
deregulation caused the problem,
while the other side says govern-
ment guarantees for "junk mort-
gages" encouraged risk taking
beyond the imagination. ©

Another group also suggests

that moving to the use of Fiat

BY THE NASSAU INSTITUTE



Money as opposed to the Gold
Standard, has helped get the
world in the mess it's in.

Whatever the cause (the histo-
ry of these times will be written in
the months and years ahead) gov-
ernments around the world have
wielded considerable control over
economic affairs.

The Fortune Encyclopedia of
Economics closes out a chapter
on capitalism with some impor-
tant food for thought:

"Today the United States, once
the citadel of capitalism, is a
"mixed economy" in which gov-
ernment bestows favors and
imposes restrictions with no clear
consistent principle in mind.

“As Soviet Russia and Eastern
Europe struggle to embrace free-
market ideas and institutions,
they can learn from American
(and British) experience about
not only the benefits that flowed
from economic individualism, but
also the burden of regulations
that became impossible to repeal
and trade barriers that were hard
to dismantle.

“If the history of capitalism
proves one thing, it is that the
process of competition does not
stop at national borders. As long
as individuals anywhere perceive
potential for profits, they will

Capitalism u

“YOUR SAY





“There are similarities in the
current economic crisis to the
Great Depression. Missing so far
are the direct attacks on
businessmen. This may yet come

to pass.”



amass the capital, produce the
product, and circumvent the cul-
tural and political barriers that
interfere with their objectives."

This begs the question: Has
capitalism been found wanting or
has the oratory skills of politi-
cians from both sides of the polit-
ical divide in the US so confused
the discussion of how their actions
might have impacted this crisis,
that the free market is the easy
target?

The shift toward
- Socialism

In an attempt to “fix” the mort- .

gage crisis, governments around
the world have begun nationalis-
ing banks and insurance compa-
nies. A move that will advance
socialism around the world. And,
as Pope Leo XIII said in his
Rerum Novarum of May 15, 1891:

"The main tenet of socialism,



namely the community of goods,
must be rejected without qualifi-
cation, for it would injure those it

’ pretends to benefit, it would be

contrary to the natural rights of
man, and it would introduce con-
fusion and disorder into the com-
monwealth."

As long as people are generat-
ing gains that are unsustainable,
all is well with the market. When

_ the market corrects these excess-

es, capitalism is blamed for the
problem. There are similarities in
the current economic crisis to the
Great Depression. Missing so far
are the direct attacks on busi-
nessmen. This may yet come to
pass.

Where does The
Bahamas fit in?

So how does this all relate to,
The Bahamas?

Regrettably, both major politi-
cal parties (FNM and PLP), and
the fringe group (BDM), seem
corivinced that government can
solve personal problems of indi-
vidual Bahamians.

Neither party sees the need to:

e Encourage entrepreneurship
through reducing the red tape to
facilitate opening a new business.

e Ensure improved public edu-

nder attack?



cation as long as government
chooses to monopolise the edu-
cational system.

¢ Balance the budget.

e Privatize the public corpora-
tions.

e Reduce the size of govern-
ment with the objective of lower
taxes. : ;

e Provide the resources for an
efficient justice system. _

e Encourage Free Trade, rather
than so called Fair Trade.

e Uphold the rule of law and
foster a culture of accountabili-
ty.
Few politicians examine the
effectiveness of their policies or
their rhetoric that is antagonistic
toward business.

Government policy to pay the
utility bills and mortgages
advances the welfare state and
discourages individual responsi-
bility while increasing the nation-
al debt burden of future genera-
tions. The Economist editorial of
October 16, 2008 stated:

“Sadly another lesson in histo-
ry is that in politics economic rea-
son does not always prevail — -
especially when the best-case sce-
nario for most countries is a short
term recession...”

On balance, capitalism has
become the scapegoat for poli-
tics run amok.



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Should the elderly be made
to retake their driving test?

@ By ALEX MISSICK

Me: people would
agree that trans-

portation regulations should
strike a balance between an
individual's needs and the pub-
lic's right to road safety. But
consider the case of elderly dri-
vers, who some feel pose a risk
which Bahamian law does not
recognise.

‘ By monitoring the fitness,
safety records and medical con-
ditions of elderly drivers, roads



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say. Some are calling for legis-
‘lation that will make it manda-
tory for everyone to retake
their driving test at a certain
age.

As people get older, they.

experience changes in their
physical, sensory and cognitive
abilities, which can affect dri-
ving ability. Driving is not
something that we can do for-
ever as it demands ones’ full
attention, good vision and
hearing, as well as sharp deci-
sion-making abilities.

Dr Elwood Donaldson, a
general practitioner, said many
elderly persons lose basic dri-
ving skills as they age.

“These abilities may be
slowed or impaired with the
development of impaired brain
function whether from the
effects of medication, medical
disorders, drugs/alcohol or
dementia. Reduced vision (par-
ticularly at night), a decrease
in depth perception, parkin-
son’s disease and movement
limiting disabilities such as
arthritis and rheumatism
(which slow down response
time in dealing with sudden
traffic changes), can all affect a

persons’ ability to drive safe- -

ly,” he said.

Dr Donaldson said he can
remember an incident in which
he had. to warn an elderly
friend to stop driving.

“T had to tell him from a doc-
tor’s perspective that he was
not in physical shape. Since I
did not want him to injure him-
self or anyone else I couldn’t
certify him as being able to dri-
ve,” Dr Donaldson said. -

Age and medical conditions
affect driving ability in many
ways. Persons may recognise
the changes immediately, slow-
ly over a period of time, or
sometimes not at all.

Frankia Russell-Rolle, a 22-
year-old driver, said she feels
older drivers should be taken
off the streets entirely.

“] think it is very dangerous
to have the elderly driving on
our streets. There should be an
age limit to how old a person
should be when their licence
should be revoked,” she said.

Mrs Rolle suggested that
there should also be a law put
in place allowing for people
driving over the age of 60 to
be charged with an offence and
fined. She said there should be
no retesting for these persons.

' “The elderly should not be
allowed to be retested because
the funny thing is that health
issues that may be fatal can
strike at any time even when
you are driving on the road. So
retesting does not prove that
they can handle it themselves,
especially the ones that are
almost blind and driving too
slow for the pace of Nassau’s
hectic traffic,” Mrs Rolle said.

Giving up such a recognised
symbol of independence can be
a heart-wrenching experience






area of y





and cause profound effects
upon self-esteem, social activi-
ties, entertainment and many
other aspects of everyday life.

Jim Lawlor, a 69 year old dri-
ver, said he realises that he
does not have much time to be
on the road.

“The thing is when you’re
my age and you have driven
for such a long time, you have a

‘lot of experience. It probably

not until something like
alzheimer’s, dementia or an
injury to your legs kicks in that
you realise that your time is
up,” Mr Lawlor said. :

Paste relations officer
for the Police Traffic
division, Garlon Rolle, said he
has come face-to-face with a
number of elderly persons who
do not want to give up the right
to drive.

“Just a few weeks ago an
elderly person had an accident
and his relatives wanted his
licence to be revoked because
they felt that he was a problem
on the road. On the other hand
I ran into another gentleman,
who was about 70 years old,
who challenged me to a race
as he was physically fit. So to
me there has to be a balance,”
he said.

- Sergeant Rolle said that
although he supports legisla-
tion mandating retesting for
elderly drivers, the government
has to be careful when draft-
ing the law, as people’s rights
are concerned.

“When we do decide to look
at this type of legislation we
have to look at it in a case by
case basis. Some at 75 years old
may be able to drive without
any physical limitations while
others may not. We may
require a physical fitness test
to say they are fit enough to
drive,” he explained.

However, Sergeant Rolle
said his awareness to this issue,

_The Tribune_

:

(prompting him to realise that
something must be done), was
only raised when an elderly dri-
ver accidentally took a young
child’s life.

“There was an elderly gen-
tleman in a community and
members of that community
noted that this man had prob-
lems with his sight, which he
denied. In the end, someone
got killed — a small child lost
his life because of him driving
and not being able to see the
small child. Since these persons
are down in age, they cannot
respond as quickly as younger
drivers so many times they can-
not deal with what is going on
around them,” Mr Rolle said.

A local business administra-
tor said she has experienced
this issue first hand as one of
her elderly family members suf-
fers from a medical condition
and has already caused an acci-
dent.

“T have an uncle who had an
accident recently and he did
not remember anything about
the accident. We found out that
the medication he was on was a
contributing factor to his acci-
dent,” the administrator said.

RO WSS oo SS SAN

Due to popular demand The Bahamas School of'}. =

DRIVING IS not something that
we can do forever as it
demands ones’ full attention,
good vision and hearing, as well
as sharp decision-making abili-
ties. (AP)

She said she does not feel her
relative should be on the road
because she fears he may hit
someone and does not remem-

ber what happened or where

he is.

Road Traffic Controller,
Jack Thompson, said his
department expects the elderly
to use their best judgment to
decide when they should stop
driving.

“T have had a few cases
where I had to, at the
assistance of their relatives,
take licenses away from elder-
ly persons,” Mr Thompson
said.

Mr Thompson explained that
although he does support and
endorse retesting for the elder-
ly, there is no such policy at
this time.

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The Tribune observes Breast Cancer Awareness Month WXOleys}

Breast Cancer Survivor for9 years



9K ry. The procedure
V rom another



sybase

‘Sidney Richard
November 15th, 1943 - October 23rd, 2008

of High Vista Estates will be held at Calvary Bible
Church, Collins Ave. at 4pm on Wednesday, Oct. 29th,
2008.





























He was predeceased by his parents Donald Roy and .
Janette Loretta Fox, sister Ann and brother Albert.He
is survived by his dedicated wife, Donna; son, Ricky;
daughter, Michelle; daughter in-law, Marlene and two
grandchildren, Ashley and Megan; step-mother,
Margaret; mother in-law, Jean Lowe; three brothers;
Roy, Leslie and Doyle. Four sisters Kay Graham;
Bonnie Culmer; Sharon Sweeting and Monica Cook.
Brothers in-law, Dave Lowe; Robert Eldon; Wesley
Treco; Gregory Graham; Robert Culmer; Owen
Sweeting and Richard Cook. Sisters in-law, Sandra
Eldon; Nita Treco; Lera Fox; Peggy Fox, Ruth Fox
and Carol Lowe. Godson, Wes Treco and uncles, Cecil
and Charlie Fox. Special friends Dr. Lynna and Ko
Kishore, Andrew Barr and Cheryl Lowe and family. |
Numerous cousins, neices, nephews, and a host of
other relatives and friends including Wayde Sands,
Frankie Pinder,Donald Johnson and the staff of Sanpin
Motors where he was employed for 28 years.




A very special thank you to the staff of Lyford Cay
Hospital, especially Dr. Dean Tseretopoulos, Dr. Angela
Kunz, Nurses Tadzia, Linda and Shelly who went
above and beyond their duty in caring for Sidney over
the past several years.Sincere gratitude is expressed
to all family members and friends who have helped
comfort the family during their time of grief.




In lieu of flowers please send donations to the Sassoon
Heart Foundation.Memorial Service arrangements by
Pinders Funeral Home, Palmdale.









PAGE 8, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



| LOCAL NEWS

FROM page one

tions and also pre-booked Christ-
mas vacations.

“During the past few months,
we haven't seen the increase in
travel that we normally see at this
time of year. You know you have.
the mid-term school breaks and
(American) Thanksgiving coming
up and we don’t see the numbers
as in past years.

“This time with the mid-term
breaks you would have had par-
ents taking children off for trips
plus booking a Christmas trip and
we don’t see that. (Now) one mem-
ber of the family may be going and
doing the shopping whereas before
it was a shopping trip and a vaca-
tion for the children. So I think
people are still going but not in the
numbers that they have been,” she
said.

‘The inventory of airline seats
this year is also lower than in pre-
vious years, Ms Sherman said,
because a few airlines have cut
routes.

“Previously we would have had
American, Continental and
Bahamasair, the three airlines
going into both Miami and Fort
Lauderdale, and at the moment

we have American and Bahama- -

FROM page one

cerated for six years, being denied bail through
two trials since his arrest, also in 2002.

Overseas travel

sair servicing Miami and Conti-
nental and Bahamasair servicing
Fort Lauderdale. The numbers of
seats have been decreased so,
although prices haven't increased
because the numbers are lower,
you are getting higher fares
because the number of seats have
decreased.”

She noted that last year Bahami-
ans were making “four or five
trips” a year to Miami but are now
shifting towards one “dream” vaca-

* tion a year, instead of multiple

trips.

To cope with this change, Des-
tinations is focusing on improving
customer service and offering more
exotic packages to entice locals to
offices, Ms Sherman said.

Bahamasair managing director
Henry Woods said the airline has
noticed a slight decrease in book-

ings this year and has adjusted its’

fleet - operating smaller planes on
international routes - accordingly.

“Bookings have decreased
slightly this year, we can see the
trend here is following the industry
and we have approached that from
a point of adjusting ai ‘aft and
the fleet to maintain the capacity

but sort of change the size of the
equipment, alternate smaller
equipment on certain routes on
certain days in order to relieve the
poor loads. But we haven't had a
significant cutback in flights, we’ve
just been adjusting equipment
where necessary to balance the
loads out.”

He is expecting a turnaround
from November onwards: “We
anticipate that it’s really going to
pick up again around the Thanks-
giving time - we anticipate a rea-
sonable Christmas season. Tradi-
tionally those periods have been
very heavy for us so we feel as
though it will pick up in a couple of
weeks and we’ll move back to

- almost all jet services on interna-

tional routes.”

Last month, Bahamasair
announced a new scheme to attract
more customers. The airline part-
nered with several hotel chains and
car rental agencies in South Flori-
da to offer clients special packages.
Bahamasair also said it was
expanding its role by strengthening
partnerships with local hotels and
promotion boards.

Mr Woods said so far the
scheme had performed reasonably
well and the airline planned to
expand it this winter,

Mario Miller autdler

There has been controversy over the unconsti-

accused receives bail

FROM page one

go into effect and six additional
non-touristic zones have been
approved for taxis.

Presently, adults and children
(not in uniform) pay $1 to ride
the bus, while high school age
children in uniform pay 75 cents
and primary school age children
pay 50 cents.

Asked yesterday exactly how
much each of these categories will
now have to pay to ride the bus in
light of the increases, Mr Grant
said that a forthcoming press
release would explain the fee

‘structure. However, none was

received up to press time.

Public Transport Association
Bahamas (PTAB) president
Reuben Rahming said it was too
early for him to comment on the
move, as those in the industry
were also “waiting patiently” for
government to provide them with
exact details of price rises that
are to be allowed.

While calls to raise fares, which
are mandated by government,
became louder in recent months
when fuel prices hit record highs,
the last two weeks have seen sig-

ditney, taxi fares

nificant reductions in the cost of
running vehicles as fuel prices
dipped again in line with falls in
the price of oil in the world mar-
ket.

Yesterday Mr Rahming said
that to tie the industry’s call for
higher fares to gas prices alone is
to “misunderstand” the matter.

“Even though it may have gone
down a little bit it doesn’t change
the fact that inflation has impact-
ed us drastically in the last

‘decade. What that means is that

the same problem you are hav-
ing with your utility bills, higher
school fees etc, it’s the same prob-
lem, the same impact, that per-
sons in the busing industry are
going through.”

He said another major reason
why more money needed to come
into operators is so that drivers
can work “humanely”.

According to the PTAB presi-
dent, the average public service
driver works about 14 hours a
day. “We need to bring new
blood into the industry,” said Mr
Rahming.

In June the Ministry of Works,

in conjunction with the Road
Traffic Department and bus asso-
ciations, announced an initiative
aiming to improve the level of
service provided by jitneys.

Former Minister of Works Earl
Deveaux said the public would
need to “get something in return”
should a fare increase be
approved.

He also expressed hope that
through improving the public’s
perception of the industry more
people would be willing to leave
their cars at home and take pub-
lic transport, thereby relieving
chronic congestion in New Prov-
idence.

Yesterday Mr Rahming admit-
ted that the outcome of the chal-
lenge was a “little disappointing”,
both on the part of the industry
and the government, which had
committed to erecting more bus
stops and other amenities to help
drivers behave in a more orderly
fashion, but expressed commit-
ment to continuing efforts to
brush-up the industry’s image and.
make it more responsive to can-
sumer demand.

A message left for Taxi Cab
Union president Leon Griffin was
not returned up to press time.

Ministry targets improving
quality of visitor experience

tutional nature of remanding a prisoner without
sentencing for such long periods of time.

The brothers’ first trial appearance ended
abruptly, as a juror was found to have a close con-
nection with one of the murder accused. The sec-

General’s Office for a third trial to begin as early
as January.

Justice Stephen Isaacs yesterday asked Ryan
and Lee if they had retained counsel for the next
trial.

ond concluded with a hung jury.
Prosecutors have reapplied to the Attorney

FROM page one

However, with scandals such

as the evolving multi-million dol-.

lar construction scam that has a
sitting MP under police ques-
tioning, Mr Smith said that “indi-
viduals” should think of the larg-
er issue and not allow his or her
situation to jeopardise the par-
ty’s chances of becoming the gov-
ernment again.

“In.the past, the PLP has had
to deal with people who made
mistakes. In some cases it was
mistakes of judgment, but it
resulted in that individual becom-
ing unpopular or the public may
have regarded it as behaving in a
scandalous way, and the party
has had to make decisions about
not nominating them in the com-
ing election. In the past there are
many examples that I don’t nec-
essarily have to go into,” he said.

Usually, the politician accepts

Lee said his family was working on the matter

Former minister

blame for their actions, Mr Smith
said, as he recognises that the
organisation — the party — is big-
ger than the individual.

“You never let your conduct
so impact the organisation that

by your action you bring the,

organisation down. You live to
fight another day. For instance, in
the United Kingdom there is a
gentleman who is re-entering the
Cabinet for a third time. He was
a valuable member of the Labour
party and he had to leave for one
reason or another, came back,
and had to leave again. And he
was a very important man to
Tony Blair’s government. He is
now re-emerging again in the
Gordon Brown government.
“So, human beings make mis-
takes. Politicians make mistakes.

and Ryan replied: “We ga be all right.”

But if it is not a mistake that is
born out of dishonesty and greed,
or supreme immoral conduct,
they can live to fight another day.
So the past has had some good
examples,” he said.

Mr Smith said that if they had
learnt the lessons from their mis-
takes in the past, figures like
Shane Gibson, Sidney Stubbs,
Keod Smith, Kenyatta Gibson,
Neville Wisdom, and Leslie
Miller could live to serve again in
the party.

“They would have learnt their
lesson. Some of our history is the
history of good governance and
responsible politicians, some-
times laced with some conduct
of men who made mistakes.”

He favoured second chances
“as long as (accusations) are not
based on deep-seated dishonesty,
thievery, ora high.degree of
immorality,” he said.

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FROM page one

ing along with the ministries of national security
and environment on initiatives to upgrade the
Bahamian experience.

He conceded that simply attracting new cate-
gories of visitors to the Bahamas is not enough if the
Bahamian product remains the same. The lacklustre
appearance of Bay Street - Nassau’s main thor-
oughfare - and the immediate need for its redevel-
opment is simply one component of the Bahamian
package that needs upgrades.

“A lot of what we talked about in terms of what
the visitor will experience is not now in place but we
are working diligently with certainly all the other
government departments and the private sector to
begin to put that in place immediately, and we’re in
Trinidad at the moment talking to cruise lines and
the central piece of that is the whole downtown
redevelopment which we are very excited about
because that makes Nassau much more attractive to
cruise passengers, plus (the opportunity) exists for
them to make more revenue," he said.

Mr Vanderpool-Wallace did not divulge specifics
of the impending changes to downtown Nassau, as
they fell under the charge of the ministers of nation-
al security and the environment.

“You're going to see it by degrees. You're going

to see a number of things happening - we’re working
with the minister of national security and minister of
the environment, without talking about some specific
stuff - you’re going to see some changes in what
downtown Nassau looks like, what happens in a
number of places already.

“But we will leave those announcements to them,
because it’s really their initiative in terms of improv- -
ing the Bahamian experience, but you will see them
slowly,” he’said.

He will visit China in mid-November for the first
time in his capacity as tourism minister with the
aim of promoting the Bahamas as a part of a com-
bination destination for Asian travellers.

“The idea of Chinese travelling (as) it’s a very
long distance to come exclusively to the Bahamas is
fairly remote. We all do the same thing when we
travel long distances, you tend to visit multiple des-
tinations so you have an increasing number of peo-
ple from China travelling to this part of the world on
business and leisure and to work with those com-
panies that are making arrangements for those peo-
ple to add the Bahamas to the combination.

“And that’s what you’ll see as one of our main
planks in our new thrust - combination vacations,
and that’s really the premise on which we are build-
ing and history has shown, with Japanese travellers
in particular, that that’s by far the best route to fol-
low.”

FROM page one

A formal ground-breaking
ceremony was held to announce
what was declared to be the
commencement of the project
in July, 2006, at which a variety
of voices from the Bahamian
sporting community expressed
their excitement about what the
stadium would mean for sport
in the country. However,
progress stalled thereafter.

Minister of Youth, Sports and
Culture, Desmond Bannister,
yesterday told The Tribune that
it is anticipated that the heavy
equipment needed “will take a
month to get here and that
shortly after that month the
construction is going to start.”

As to the size of the multi-
use ‘stadium, the minister said
it would be “adapted for
Bahamians” and therefore
smaller than that initially
planned (30,000 seats), but still
“the most fantastic stadium in
the region.”

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Stadium

He said: “It’s going to be one
that you will be very proud of
and you will see that in the first
six months of my term in office
(ending December, 2008) I’m
going to make sure that gets
started. Hold me to that.”

The Tribune understands that
some of the delay in moving
ahead with the stadium under

the FNM government came

about as a result of time needed
by the Ministry of Works to
review the Chinese designs to
make sure they complied with
the Bahamian building code.

The stadium has been a
minor political flashpoint since
the Ingraham administration
came to power in May, 2007,
with FNM ministers blaming
the former Christie government
for its failure to materialise
according to schedule. |

In July this year, culture min-
ister Charles Maynard claimed

the delay in moving ahead with
the project was because “it took
(the FNM) this long to clean up
the mess (the PLP) had left in
place.”

He said: “This is one of the
most mismanaged programmes
ever in my opinion and it falls in
the lap of the former prime
minister himself.”

Mr Miller said completion of
the proposed stadium will mean
that sports like baseball and
softball, once played at the
Andre Rodgers and Churchill
Tener Knowles stadia, will have
a “decent home.”

“We can have one big sport-
ing centre that could be the
sporting mecca for The
Bahamas,” said Mr Miller.

Both stadia were demolished
in 2006 to make way for the
new project, an act which for-
mer Minister of Youth and
Sports Byran Woodside
denounced as premature in light
of delays in progress in com-
pleting the new venue.

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THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 9



Residents collecting litter to
‘Keep Grand Bahama Clean’ |

@ By DENISE MAYCOCK
Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT — The ‘Keep
Grand Bahama Clean’ campaign
is catching on among residents
as they participated in a special
litter collection initiative on Sat-
urday morning in the city of
Freeport.

A large number of residents
took to the streets at 7am on Sat-
urday, collecting roadside litter
in the areas of Pioneer’s Way,
Frobisher Drive, Raleigh Drive,
Shackelton Drive and West Mall.

The route ended at the Grand
Bahama Port Authority Build-
ing on the Mall, where partici-
pants were treated to a bag of
treats and refreshments for their
hard work.

mental manager at the Grand
Bahama Port Authority, said she
hopes that the event will influ-
ence others to do the same in
their communities.

“This is the second anniver-
sary of the ‘Keep Grand Bahama
Clean’ initiative. It is the first
time we are doing this and it is
almost like a pilot to see if we
can do it in other areas as well.

“From this experience, we are
hoping to take it to other areas
and for other people to see and
mimic. We hope it catches on.
We: are hoping we are able to
impact the entire community,”
said Ms Wilchcombe.

A purple trailer also accompa-
nied participants along the route
and broadcast public service
announcements telling residents
in the area of the importance of

“We know culturally our peo-
ple like music and we wanted first
of all to encourage residents with
sounds to come out and join the
initiative,” Ms Wilchcombe said.

“The overall initiative is catch-
ing on, but there is still a lot of
work to do and sometimes peo-
ple get complacent because
Grand Bahama is so clean.”

Ms Wilchcombe said that indis-
ctiminate dumping is a problem
in Grand Bahama, more so than
littering, as the Port Authority
has a constant system of picking
up garbage.

She said persons are dumping
old refrigerators and other appli-
ances which can be picked up
free charge for residents who pay
service charges.

“The problem of indiscrimi-
nate dumping is of particular con-

es a magnitude we cannot handle
we want to address it,” she
said.

“We want to make a special
appeal to contractors and busi-
ness persons because we are find-
ing a lot of shingles and other
materials used in construction
and renovations dumped in areas
they think no one would see.

Ms Wilchcombe is appealing
to everyone to join the ‘Keep
Grand Bahama Clean’ move-
ment. She said the message has
been taken to the schools and
civic organisations in the com-
munity.

“We are spreading the mes-
sage that it is everyone’s business
and everyone’s responsibility to
keep Grand Bahama clean
because our economy and
lifestyle depends on a healthy

Nakira Wilchcombe, environ-

keeping the environment clean.

cern to us, and so before it reach-

environment,” she said.

Andros farmers get support from Lucayan Tropical

LUCAYAN Tropical Produce has agreed to
purchase 400 cases of green peppers from North
Andros farmers each week for the remainder of
the season, sales manager Roger Rolle
announced.

“Once we have this worked out, then we will
move on to other produce as well,” he said.

Bahamas Agriculturat and Industrial Corpo-

ration (BAIC) executive chairman Edison Key:

said he was, “very encouraged” by the move.

“We see Andros not only as a breadbasket of
the Bahamas, but also as providing opportunities
whereby Bahamians can earn a decent living,”
he said.

“If we can get a handle on agriculture - feed-
ing ourselves and catering to the millions of
tourists who visit us each year - we would wipe
out unemployment.”

Lucayan Tropical, operators of an extensive
hydroponics farm in New Providence, is pro-
viding farmers with seedling.

North Andros farmers haison officer Eric —

Lightbourne and Lucayan Tropical are working
together to formulate a plan to ensure stag-
gered harvests, said Mr Rolle.

“We do not want a glut and we do not want a
situation where everyone has it for three months
and then stop. We are working on consistency,”
he said.

“We will move the product to New Provi-
dence where the market can absorb it quite eas-
ily. We will pay for the shipping. We will provide
the packaging, and we will sell it. We just need
farmers to grow it consistently.

“We will use the same grading standards that
the US uses for Peppers, so the quality will be

good.”

Rather than denendine solely on the govern-



Gladstone Thurston/BIS

BAIC EXECUTIVE chairman Edison Key (right) and his team inspect a field of green peppers in North
Andros. Pictured from left are BAIC general manager Benjamin Rahming; Lucayan Tropical Produce

sales manager Roger Rolle; North Andros Farmers Association president Cecil Gaitor; farmers liaison
officer Eric Lightbourne, and domestic investment officer Alphonso Smith.

ment’s packing houses to purchase their prod-
ucts, BAIC has been encouraging farmers to
work directly with New Providence buyers.

“We have visited the farms, we have seen
the product, we see the potential,” said Mr
Rolle.

“We realise that they need some assistance
especially in organising.

“This model of the 400 cases of green peppers
we are going to take every week 1s just a start.
Once we have this worked out, then we will

move on to other produce as well.

“We will give them a fair price because we are
all in the business of making money. We do not
intend to exploit one another. It is a co-operative
and I know that we can make it work.”

North Andros Farmers Association presi-
dent Cecil Gaitor said they were grateful to
BAIC and Lucayan Tropical and other buyers
“for their expression of confidence in us.”

“We will do the very best we can to produce
the finest product,” he said. :

') Bethel Brothers Morticians

Telephone: 322-4433, 326-7030
Nassau Street, P.O. Box N-1026





"Le Nikki
Alanna
Lashley, 24

of Poinciana Avenue, Skyline
Heights will be held on
Thursday October 30th, 7:00
p.m. at St Christopher's
Anglican Church, Lyford Cay.
The Venerable Archdeacon Keith Cartwright assisted by Fr. Peter
Scott will officiate.















Funeral Service and Mass of Thanksgiving will be held on Friday
October 31st, 10:00 a.m. at St. Christopher's Anglican Church,
Lyford Cay. The Venerable Archdeacon Keith Cartwright assisted by
Fr. ‘Peter Scott will officiate. Interment will follow in Woodlawn
Memorial Gardens, Soldier Road






Lia was born in Nassau on July 3rd, 1984. She attended Tambearly
School and St. Augustine's College in Nass‘au, The Madeira School
in Virginia, Emory University in, Atlanta and was a medical student
at the University of the West Indies in Jamaica. During these years
she impacted the lives of her family and her wide circle of friends in
a meaningful and enduring way, She was loved greatly and gave
great love in return. Lia died on October 23, 2008 in Kingston,
Jamaica and will be remembered with love by so many, including her
parents, Charles and Toni; her brothers, Brett and Ryan; her Grand
parents, Sir Orville and Lady Turnquest and Adeline Lashley; her
uncles and aunts, Edward and Michele Fields, Tommy and Shawn
Turnquest, Jimmy and Marise Lashley, Ramon and Debbie Lashley,
Deanna Lashley and Jacqueline Lashley; her cousins, Carey, Robert
and ErinTurnquest, Candace Fields, Andre Lashley, Anthony
Lashley, her housekeeper Iris Gayle, her Godmothers Elma
Campbell and Katina Mezulanik; her special friend, Kenneth
Ingraham; her dog, Kalik; her grandaunts and granduncles Basil and,
Bobbie Sands, Gurth and Beverly Ford, George and Fredericka
McCartney, Carver and Veronica Grant, Jean Turnquest, Archbishop
Patrick Pinder, Sammy and Gayle Pinder, Alfred and Vivian
Braithwaite, Nicholas Braithwaite, Hyacinth Braithwaite; her sisters
of the heart, Muna Issa, Kelley Knowles and Krista Nottage; adopted
parents, John and Aida Issa, and Ronnie and Gvyen Knowles; ~
adopted brother. and sister, Chris and Zein Nakash and their children
Jordan and Au. Lia was blessed to have a large extended family and
a great number of friends from all of the many paths she travelled,
all of whom will cherish her memory.





























Friends may pay-their last respects at Bethel Brothers Morticians,
Nassau Street on Thursday from 10:00 a.m. to 5:00 p.m. and at the
church from 6:00 p.m. until service time, and on Friday from 9:00 a.
_ m.until service time.




SANPIN MOTORS & PRE-OWNED BAHAMAS

‘



WILL BE CLOSE!



Wednesday Afternoon October 29th at 1PIM

To Attend The Memorial of

Past Sales Manager for 28 1/2/ years

The Shareholder, Directors,

Management

and Staff send their sincere sympathy to
Donna, his wife; Ricky, his son; and
Michelle. his daughter;-daughter-in-law

Marlene; granddaughters,

brothers, sisters,

step-mother, Margaret Fox of Hope Town
Abaco as well as all family & friends.





‘

PAGE 10 WEDNESDAY, OCTOBER 29, 2008 ; THE TRIBUNe

COMIC PAGE

CALVIN & HOBBES
EACH DAN I COUNT THE HOURS | T ALWAYS HAVE. TO POSTPONE









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Matthew Turner v David Haydon,
Brentwood Open, 2008. White

(to play} was a grandmaster,

Black a county amateur, and

on this occasion there was no
giant-killing. Several white

pieces are already aimed at

the vulnerable black king, and
Turner's next move ensured a
decisive advantage. With these
clues, spotting what White played
should be easy and the real test is
whether your chess vision is acute
enough to work out the virtually
forced resulting sequence which
gained significant material. Can
you find White's winning idea?

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Chess: SAT: 1 Ree6t Kone6 (it Qxe6 2 OxdS wars
the queen) J BadSe Qed PRele Kb A Bg3+ KES









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| opin oie Actors. TEMG BICSs East-West vulnerable diamonds
17 Strong blow wrenched a 7 SO ere Started aot
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| 49 Drop of French +4: Bill. gels.a’ medical quallti- 4Q 1096 this particular diamond combination
0 perfume (7) cation of a college (10) ¥962 by first cashing the ace and then the
eZ 21 See sign is incorrect for a 16 A visionary transaction is #K 104 king, But observe what happens if
: start (7) included in it (8) PASS South follows that procedure in the
I 22 There’s some point ina 18 | stay true to the principle WEST EAST present case. He can no longer score
story having one (5) of self-denial (9) nerees Gewa @KI873 2 all his diamonds, and cannot score a
N 24 Raises to a higher state, 20 Three times surrounded a Lu VATS4 ¥QI108 fourth diamond trick without surren-
/ 1 but sala no nubarahawstosn(hy ~< 1 Suave (4-6) 1 Identical (4) 07 $1963 dering one to East first. East would
os essin ‘ i 43 ae SGueen othsarts
ene rai nadear nel 21 Non-specialist officer (7) N 6 Blow with whip (4) 2 Agitator (9) 162 ak #01043 then return the queen of hearts to put
Q ; . 10 Worth (5) 3 A fight (3-2) SOUTH the contract down one.
drinks? (4,5) 23 Man who may impose a — g @A54 To prevent this from happening
28 African port bar that is rigid measure? (5) Oo. 11 Attempt (9) 4 Daunt (7) oe a Ae Nees
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good sportsmen (4,6) company (4) Lu 17 Staying power (7) 9 Assert (8) East South West North — the contract even if West wins the
C 19 Crowded closely 14. Arbitrary (4-6) Pass INT Pass 2NT trick with the jack. (South would
: : ‘ rbitrary (4- mae aN an enarark . : ‘i
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O Across: 1 Slapped, 5 Baste, 8 Across: 1 Chaotic, 5 Grasp, 8 Out u tes 18 Going from place to trick to West’s king.)
Ascertain, 9 Amp, 10 Kids, 12 of hand, 9 Tot, 10 Dash, 12 22 Protection (5) place (9) Tactical considerations are often Of course, if East covers the ten
S Chastise, 14 Distil, 15 Remiss, 17 Stubborn, 14 Repeat, 15 Mutiny, 17 24 Take responsibility ‘ ; more important than technical con- — with the jack, South wins with the
| Isotherm, 18 Myth, 21 Ego, 22 Probable, 18 Myth, 21 Opt, 22 for (8) 20 Notwithstanding (7) siderations. This means, for example, queen, thus assuring five diamond
S Repairman, 24 Straw, 25 Liberty. Guatemala, 24 Terse, 25 Earthly. 27 Deviation (9) 21 Adult (5-2) that it may not always be right to — tricks whether West follows suit or
Ww Down: 1 Smack, 2 Arc, 3 Port, 4 Down: 1 Crowd, 2 Act, 3 Tuft, 4 Bese easel 23 Auctioneer’s make the theoretically best play ina not.
| Deaths, 5 Bandsmen, 6 Stability, 7 Crafty, 5 Gadabout, 6 Authority, 7 eae oe hammer (5) given suit combination; rather, it may In adopting this line of play,
O Express, 11 Dishonour, 13 Withdraw, Potency, 11 Supporter, 13 buccaneer (5) aie be more important to try to find the — declarer reasons that he is virtually
14 Drivers, 16 Propel, 19 Handy, 20 Harangue, 14 Rapport, 16 Please, 29 At the proper time (4) 25 Stay temporarily (5) overall best play in that particular — certain to make the contract by cash-
R Limb, 23 Mar. 19 Hoary, 20 Tear, 23 Ash. 30 Inveterate (4-6) 26 Take care of (4) hand, ing the diamond king at trick two. It
Consider this deal where West — is a safety play that ensures at least
D leads his fourth-best spade. Declarer four diamond tricks and three



Wins with dummy’s nine and sees .

hotrump, come what may.

(2008 King Features Syndicate Ine,



THE TRIBUNE
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AMERICA ‘R Benicio Del Toro. 1 ‘R’ (CC)
(0) % DRIVE ME CRAZY (1999, (6) % 4 THE CURE (1995, Drama) Joseph Mazzello, Brad Renfro, eaaneones
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HBO-S James McAvoy, Alice Eve. A Pee ea student at- |hansson, Aaron Eckhart. Two caps investigate a starlet's grisly murder in
(6:00) tok ee 34 THE CABLE GUY (1996, Comedy) Jim Carrey, Matthew =| & x * THE SIMPSONS MOVIE
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unexpected romance. 1 ‘PG-13' (CC) to Bimini. O (CC)
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TMC EEkS (2006) |Ana de la Reguera. A Mexican cook moonlights as a ae Rosario Peieon ata tatoo,

tends a private university. M ‘PG-1 1940s Los Angeles. (1 ‘R’ (CC)

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MOMAX |ii/3 D

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(:00) CSI: Miami |Dog the Bounty |Dog the Bounty Hunter ‘Felons In-|Dog the Bounty |Parking Wars “The Lost Pilot” Park-
A&E ae Day’ A ibe ib terrupted” Ice addict. (CC) Hunter (N) (CC) fing law enforcers. (N) (CC)
trains,

WEDNESDAY, OCTOBER 29, 2008, PAGE 11

F

Let Charlie and
Bahamian Puppet and
his sidekick Derek put,

some smiles on, your



kids’s faces.

Bring your children to the
McHappy Hour at McDonald 's in
Malborough Street every Thursday
from 3:30pm to 4:30pm during the
month of October 2008.

Enjoy Great Food, Prizes and Lots of Fun

{T\

i'm lovin’ it

S)





PAGE 12, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



INTERNATIONAL SPORTS

Federer to play against Zee
interview

US in ‘09 Davis Cup

._& By GRAHAM DUNBAR
‘Associated Press Writer

GENEVA (AP) — Roger Federer ended
speculation over his Davis Cup plans Tues-
day and announced he will play for Switzer-
land against the United States next March.

It will be the first time in five years that
the 13-time Grand Slam singles winner has
broken up his early season schedule for the
Davis Cup.

"I am excited to once again join my fel-
low Swiss teammates, who I have a great
friendship with," Federer said on his Web
site. "I look forward to what I am sure will
be a tough weekend."

The World Group first-round series will
be played:March 6-8 in the U.S. at a venue
to be chosen by the United States Tennis

Association in the next six weeks.

Federer helped Switzerland rejoin the
elite World Group when it beat Belgium
last month.

He beat Kristof Vliegen in straight sets,
then teamed up with Stanislas Wawrinka,
his Olympic doubles gold medal-winning
partner in Beijing, to win their doubles
match.

Victory

Federer last played a Davis Cup first-
round match in 2004, a victory over Roma-
nia in Bucharest.

"We are obviously very pleased that he
decided he will be joining the team," Swiss
Tennis spokeswoman Sandra Perez said.
"That increases our chances."

- Swiss officials were hopeful Federer
would face the U.S. because his tourna-
ment schedule takes him to California
immediately after the Davis Cup for the
March 9-22 Indian Wells tournament.

"Probably if we were playing the tie in
Australia that would have been a little bit
more difficult," Perez said.

Switzerland and the U.S. have a 1-1

record in Davis Cup meetings.

In 2001, Federer won three points —
including singles victories over Todd Mar-
tin and Jan-Michael Gambill when
Switzerland beat the United States in the
first round in his home city, Basel.

The U.S. beat the Swiss in the 1992 final
at Fort Worth, Texas, with Andre Agassi
and Jim Courier playing singles and John
McEnroe and Pete Sampras in doubles.





M Jones

CHICAGO (AP) — Dis-
graced track star Marion Jones
will give her first post-prison
interview to Oprah Winfrey.

Jones' appearance on
Wednesday's episode of "The
Oprah Winfrey Show" is to be
her first interview since she
was released September 5
from a Texas federal prison
after completing most of her
six-month sentence for lying
about steroid use.

Jones tells Winfrey that it
jveent difficult for her to





return the three gold medals
she won in the 2000 Sydney
Olympics.

She says "it's the memory
that will be tarnished."

Jones also is to read aloud a
letter to her children that she
wrote from prison.

The sprinter admitted last
October that she used a
designer steroid known as "the
clear" from September 2000
to July 2001.

Her admission came after
years of denials.



Same-old Pistons insist
they'll be different

& By LARRY LAGE
AP Sports Writer

AUBURN HILLS, Mich.
(AP) — The Detroit Pistons are
getting one more chance to
return to the NBA finals for the
first time since 2005 despite
threats that the familiar cast was
going to get broken up.

Rasheed Wallace insisted he
wasn't worried about the possi-
bility of getting traded, but he's
thankful to have another shot
to make a run with Chauncey
Billups, Richard Hamilton and
Tayshaun Prince.

The quartet helped the Pis-

‘tons win a championship in:2004

and with Antonio McDyess the
next season, they fell just short
of repeating.

Since then, Detroit has been
eliminated in Game 6 of the
Eastern Conference finals each
year.

"We've been together for so
long," Wallace said. "We've
been to the mountaintop.
Sipped the juice. Fell off the
mountaintop."

Wallace and Co. will start
_ what they hope will be a climb
back to the top Wednesday
night at home against the Indi-
ana Pacers in the opener for
both teams.

When the Pistons fired coach
Flip Saunders in June follow-
ing his third straight exit in the
conference finals, Joe Dumars
publicly put everyone on the
roster — other than Rodney
_ Stuckey — on the trading block.

Even though the team presi-
dent of basketball operations
didn't end up finding a deal that
made sense to him, he insists
these won't be the same-old Pis-
tons.

"Our core guys are back, but
we'll be different," Dumars said
in an interview with The Asso-
ciated Press. "We're going to
incorporate young talent, and
we've added a new, young
coach."

The Pistons promoted one of
Saunders' assistants, 40-year-
old Michael Curry.

Curry played with Dumars a
decade ago, and Billups, Hamil-
ton and Prince were teammates
during the 2002-03 season.
Toward the end of Curry's play-
ing career, he led the NBA
players’ association and later
had leadership roles within the
NBA and its developmental
league.

"Patience is always going to
be my toughest thing to do,"
Curry said. "Being able to lead,
communicate and knowing the
game are things I've always
been real comfortable with."

The Pistons are trying to plan
for the future while still trying
to win now by putting 21-year-
old Amir Johnson in the start-

" zlies and was lackluster this pre-

-slipped too far because we got

ing lineup, taking 34-year-old
Antonio McDyess' spot in the
frontcourt. They're also count-
ing on 25-year-old Jason Max-
iell and second-year pros Stuck-
ey and Arron Afflalo to play
key roles in a nine-man rota-
tion.

Kwame Brown, the No. 1
pick in 2001, is getting a chance
to revive his career as an occa-
sionally used reserve instead of
a go-to player. |

"He needs to be a player
that's coming more into the mix
as Opposed to being the main
cake," Wallace said.

*. It seems wise for the Pistons
to avoid banking’on much from
Brown — who will make $4 mil-
lion next season — because he
averaged just 4.8 points a gamie
last season with the Los Ange-
les Lakers and Memphis Griz-

season.

"I can't make any excuses,"
Brown said. "I just know what I
can do moving forward."

The Pistons are trying to
avoid a look-back, but they do
regret losing the past three sea-
sons to the eventual champion
Boston Celtics; runner-up
Cleveland Cavaliers and title-
bound Miami Heat in the con-
ference finals.

"We've gotten too loose and
lax over the course of the sea-
son and then when we tried to
tighten things up. Things had

too comfortable," Billups said.
"I hope the difference this year
will be that things won't slip
because we'll hold people
accountable all season." '

Curry insists he simply will
sit players who don't play hard
consistently. He also will try to
keep them in check on and off
the court with a list of rules, |
starting with one that doesn't
allow excuses.

"We think Michael will bring
discipline and accountability to
this group of guys," Dumars
said. "That's something we feel
like we needed going forward."

Detroit has-won the Central
Division title the past four years
and in six of the last seven sea- .
sons — winning at least 50
games since the 2001-02 season
— under Saunders, Larry
Brown and Rick Carlisle.

The Pistons have advanced
to six straight conference finals,
the first franchise to do that
since the Los Angeles Lakers
went to eight in a row in the
1980s.

But the franchise also is just
the first in more than a half-
century to lose in the round just
before the NBA finals three
years in a row.

"The expectation is to make
it to the NBA finals," McDyess
said.

DETROIT PISTONS’ Tayshaun Prince (22)



« » Qwvr

As aw;

preseason game in Auburn Hills, Michigan...





takes a shot against Atlanta Hawks’ Josh Smith in the first half of a

DETROIT PISTONS’ Amir
Johnson (25) blocks a shot
by Cleveland Cavaliers’ J J
Hickson in the first half of a
preseason game...





Texas says fight that put boxer in a coma was lawful

AUSTIN, Texas (AP) —
The fight that left San Antonio.
boxer Oscar Diaz in a coma
for two months was conducted
within state laws and rules,
according to a state report
released Tuesday.

The Texas Department of
Licensing and Regulation said
the referee, ringside physicians
and emergency technicians
also performed their duties "in
accordance with all laws and
rules pertaining to combative

sports."

Diaz couldn't leave his cor-
ner before the 11th round of a
fight against Delvin Rodriguez
in San Antonio in July. Refer-
ee Bobby Gonzalez stopped
the fight and immediately

called for medical help when
Diaz couldn't respond to his
questions, according to the
agency's report.

After being transported to a
hospital, Diaz was sedated and
given a breathing tube, the

report said. He later under-
went emergency surgery to
ease swelling on his brain.

Diaz came out of a coma
last month, and boxing pro-
moter Ron Katz said his
recovery continues.



WADA
Satisfied
It has |
received
all test
results

@ By STEPHEN WILSON
AP Sports Writer

LONDON (AP) — The
World Anti-Doping Agency
said Tuesday it has now
received the results of the 300
drug tests from the Beijing
Olympics that it had previously
reported as missing.

WADA's team of indepen-
dent observers had noted the
missing results in their final
report on the Beijing drug-test-
ing program earlier this month.

The International Olympic
Committee said the mix-up was
due to a "communication prob-
lem" between the Beijing lab
and the observers, and that all
the results had been traced and
later sent to the WADA team.
All those tests were negative. _

"The IO (independent
observer) team is now satisfied
that it has in its possession,
results for all of the in-compe-
tition tests conducted in Bei-
jing and’ that all outstanding
issues have now been clarified,"
WADA said in an addendum
to its report issued Tuesday.

WADA said the biggest
group of missing test results,
about 180, were for EPO con-
trols. It said there had been a
misunderstanding over the Bei-
jing lab's indication that those
results would be included in
separate reports.

An additional 117 test results
not received in Beijing were
provided in lab reports dated
Oct. 15-18, with another 17
results for testosterone report-
ed to WADA on Oct. 15-16.

Also, the observers had mis-
takenly asked for EPO test
results on about 32 samples
which were not analyzed for the
blood-boosting hormone,
WADA said.

"The IO Team has now con-
cluded the review of all results,.
can confirm receipt of every
sample it thought to be out-
standing and that all test results
were negative," WADA said.

To avoid similar confusion in
the future, WADA recom-
mended the use of a secure
computer database system to
handle drug-test management
issues at the Olympics.

The observers monitored all
elements of the doping control
process in Beijing, where the
IOC ran the biggest drug-test-
ing program in Olympic history.

Among their key findings
was that 102 of 205 countries
competing in Beijing failed to
provide organizers information
about their athletes’ where-
abouts so they could be tested
out of competition.

Six athletes were disqualified
for doping offenses during the
Olympics, and three other cas-
es are still pending.

The LOC plans to retest Bei-
jing samples for traces of
CERA, the new blood-boost-
ing drug that was recently
detected in the samples of four
cyclists from the Tour de
France.



OCTOBER 29, 2008, PAGE 13

AY,

WEDNESD

THE TRIBUNE

SPORTS



*

Cobras player in action yesterday.
The Cobras defeated Anatol

BALL FOCUS — A C C Sweeting

10

GSSSA act

igh in straight sets...

Rodgers H





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i‘ ea Reo ee player ie inte Oy-| aT) eee Vlas Reca ny fr | Gibson ce a

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GETTING IT OVER — AC | Gibson Rattlers player digs the ball...









TRIBUNE

‘THE

Same-old
Pistons insist






2008

WEDNESDAY, OCTOBER 2.9,

CC Sweeting Cobras ‘bite
up’ GSSSA newcomers |

ee | CI Gibson

sana «| «Rattlers beat
ve R M Bailey

Pacers







Boxing
club shows
‘diamonds

in the

rough’

lm By RENALL!O DORSETT
Sports Reporter —

ONE of the most well
established shows on its cal-
endar, Champion Amateur
Boxing Club showcased a few
of its “diamond; in the rough”
while honourirg one of box-
ing’s local legends.

The 15th Arnual L Garth
Wright Golden Gloves pro-
duced several unlikely upsets
and introduced the boxing
community to several fighters
billed as up and coming
impact fighters

Relative newcomer Maxene
Lexcima was nemed the Most
Valuable Boxer of the tour-
nament after winning his
headlining Light Heavyweight
bout over Tam:ko Stubbs via
a third round knockout.

Ray Minus Jr, tournament
organiser and “ABC execu-
tive, said Lexcina thrilled the
crowd with hs adept skill
despite his inex perience.

“He really displayed great
boxing skills for any fighter,
especially after only working
out in the sports for six
weeks” he saic. “He was up
against a really experienced
boxer and jus’ flat out dis-
mantled him, especially
through the use of his jab.”

Minus said Lexcima’s debut

fight was such a hit that“he
has alfeady been. named. to
appear in the main event of
the club’s next show and
received an endorsement from
the country’s history-making
Olympian in the ring.

“Everyone was very
impressed with how well he
looked in the ring,” he said.

~“Taureano Johnson was on
hand in the crovvd and he said
he could not believe that Lex-
cima just recently started box-
ing. He said he found it
extremely impressive and it
was the best performance of
thé night.”-

Richard Shelton, named the
tournament’s Most Improved
Boxer, scored a stunning
upset with his three-round
decision over F.udolph Polo.

The Best Fight of the Night
went to the bout between
Rotarvio Addezley and Jevon
Cornish. Adderley secured
the three-round decision.

Minus Jr said the fight
added an additional flair to
the card with a high impact
match between even fighters.

“There was excellent talent
in this fight and high aggres-
sion maintained throughout
the fight,” he said. “There was
a little more intensity from
start to finish ind Adderley
dug deep to pu'l off the upset
against a more experienced
fighter.”

Other results on the card
included Cleveland McPhee
over Judson Joseph, Don
Rolle over Kevin Sullivan,
Charles Sweeting over’
Michael Bethel, Apprecio
Davis over Andino Simms,
Jermaine Bain of Christopher
Major, and Ras vield Williams
over Valentino McPhee.

Minus said the event’s his-
tory and prestige continues to
make it one of the club’s most
anticipated tournaments.

“Over the years the tour-
nament has produced won-
derful talent and most-of the
big name boxers you see












@ By RENALDO DORSETT
Sports Reporter

he C C Sweeting Cobras

delivered a less than

friendly welcome to Ana-

tol Rodgers High, who
made their GSSSA senior girls vol-
leyball debut yesterday.

The Cobras routed the league’s
newcomers in straight sets 17-8, 17-8
at the D W Davis Gymnasium.

Before an eager crowd of sup-
porters awaiting an opening day win,
Anatol Rodgers played inspired,
which led to an early 8-8 tie.

However, the Cobras reasserted
their dominance and ended the set
on a 9-0 run.

In the second set, the Cobras
would not allow Anatol Rodgers to
come within five points at any point
‘during the set... ;

C-C Sweeting led 10-4 early and
their‘opponents had much trouble
returning serves from Cobras’ cap-
tain, Keisha Thurston.

Thurston applauded her opponents
initial effort and noted improvements
her team must make to reach their
ultimate goal.

“I thought it was a good game,
especially with them being a new
school and all, they actually did pret-
ty well,” he said. “I think we did well
as always but there is always room to
do better and to improve. I think we
need to improve on our communi-
cation and our service.”

As for the defending champion C
V Bethel Stingrays and other teams
around the league, Thurston issued a
warning for the remainder of the
year. ©

“Trust me, we’re getting our cham-
pionship back,” she said.

Also yesterday, the late senior girls
game produced a thrilling three set
match between the C I Gibson Rat-
tlers and R M Bailey Pacers, which
remained in contention until Keisha
Burrows came up to serve in rota-
tion.

Burrows served 13 consecutive suc-
cessful points for the Rattlers en
route to a dominating 17-2 third set
clinching win.

The first set produced a contro-
versial finish as the set was mistak-
enly called in favour of the Pacers
as they led 18-17. However, a team
must win by two points or be the first
to reach 19.

The Rattlers used the reprieve to
regain momentum and rallied for a
19-18 win.

The Pacers rebounded from dis-
‘appointment to take a hard fought
second set 18-16 but faltered defen-
sively in the third.

League play continues 4pm today
at the DW Davis Gymnasium.









Dynamos’ 1-0 victory
over the Cavaliers

today like Taureano Johnson,
Jermaine Mackey, Valentino
Knowles and others have
passed through +t early in their
careers” he said.

Phis year we had 17 fights
so it gives boxels a lot of valu-
able exposure and we are
looking forwar | to making it
bigger and bet er from year
to year.”

NT: fas of the Dynamos
Wo Le EMOTO NEI
nts)












CAVALIERS and
Dynamos football clubs went
head-to-head Saturday in a
pre-season scrimmage match.

Dynamos, with a 1-0 victory
over the Cavaliers, found
redemption after they were
shut out 7-0 last year.

Led by coach Carl Lynch,
the under- 11 Dynamos girls
went to work early in the first
half, scoring their first and only
goal during the game’s open-
ing minutes when D’shan
Clarke scored on a strike.

On several occasions, the
Cavaliers tried to answer back
but were unsuccessful due to

the dynamic Dynamos
defense.

Although much smaller in
stature, the Dynamos used
their speed and agility on the
pitch to keep a talented Cava-
lier squad scoreless.

Besides the goal scorer, the
Dynamos received excellent
play from their new goalkeep-
er, Dhuranique Ferguson, who
kept out two penalty shots and
turned away a few attempts.

While the game was only a
friendly, it gave the young
players on both sides more
incentive to train harder in
preparation for the season.



THE TRIBUNE





PAGE 16, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



RBPF peer leadership seminar focuses on positive change



MINISTER of National Secu-
rity Tommy Turnquest offi-
cially ‘opens the Royal
Bahamas Police Force West-
ern Division’s Peer Leader-
ship Programme on Thurs-

New Providence Community
Centre on Blake Road. Stu-
dents from Westminster Col-
lege and Lyford Cay Interna-
tional School were in atten-
dance.





day, October 23, 2008, the at —

@ BY MATT MAURA

NATIONAL Security Minister Tommy
Turnquest is urging Bahamians to take advan-
tage of all of the police force’s programmes
which aim to positively influence the lives of
young people in this country.

Addressing the launch of the Western Divi-
sion of the police’s Peer Leadership Pro-
gramme, Mr Turnquest said the police force
plays a vital role in youth development with-
in the Bahamas.

The leadership programme is designed to
continue to promote positive change within
the school system and the wider community as
part of the police’s larger focus.

Students from the Lyford Cay School and
Westminster College participated in the
launch. The schools were selected to partici-
pate as a result of their “outstanding record.”

The Lyford Cay School and Westminster
College are the two schools to which the West-
ern Division police units have never had to
respond to because of “any negative type of
behaviour.”

Police officials hope to use that record as-a+

catalyst for further change by urging the stu-
dents within the leadership training pro-
gramme to spread that same model behav-
iour into their communities and among their
peers.

Mr Turnquest that said Thursday’s peer
leadership seminar is only one of the many
mechanisms the police is using, “to build a



“I am particularly
pleased that the '
building blocks the
Royal Bahamas Police
Force is using for its
bridge to the people
and community today
are our young people.”



Tommy Turnquest

bridge of service, trust and confidence
between the organisation and our people, our
youth and our communities for the better-
ment of the Bahamas.”

“Tam particularly pleased that the building
blocks the Royal Bahamas Police Force is
using for its bridge to the people and com-
munity today are our young people,” Mr
Turnquest said.

“This is an approach that recognises how
important youth perspectives are for under-
standing what their role and contribution must
be in the growth and development of our
country,” he said.

BAZAAR
Sat., Nov. Ist.

Minister Turnquest said the seminar fol-
lows up on the mandate of Acting Commis-
sioner of Police Reginald Ferguson for the
force to put initiatives in place that cater to the
youth in the various communities throughout
the Bahamas. That mandate was laid out in
the Commissioner’s Policy Statement, 2008.

Mr Turnquest.said the seminar was
designed to address a variety of issues impact-
ing young people in the country, while pro-
viding them with the additional tools they will
need to be positive youth leaders within their
schools and communities.

“These days we hear a lot about peer pres-
sure, negatively influencing the behaviour of
young people,” Mr Turnquest said. “The
Western Division is putting a positive spin on
peer relationships in this pragramme. It is to
educate youth so that the information and
knowledge they will have at their disposal,
and which they will share with their peers,
will be designed to teach civic and social
responsibility. \

“Much will be expected of you, our young
people as peer leaders,” Mr Turnquest told the
students. “You are expected to be courteous
and tolerant, you are expected to communi-
cate well with your peers and with the police,
you are expected to be young people of hon-
esty and integrity and to be law abiding citi-
zens (and) you are expected to make your
parents, teachers, community and country
proud and to give and get respect from you
peers.” ay

12:00pm to $:00pm ,

bod Thy hae Ot tea Ct
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~\@ Afternoon Tea - Hosted by The St. Andvew’s Kirk Ladies’ Society from
~_ 3pm to Spm. Tickets are 10.00 each, contact Lesley Cancino to purchase
« your tickets at 393-9335 or lesleycanomac.com

White Elephant Stall

Selling gently used household items, clothing and

toys.

Kits rat

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Hamburgers & Hotdogs

Dous.te Stack
Compo

eh

RMP race tera
DeLuxe Compo

Riku kre ga










(THE

‘bargains’
await in
next 12-18
months

@ By NEIL HARTNELL

Tribune Business Editor

CASH-rich
investors, |
typically
institutions
and high-net Ff
worth indi- |
viduals, could |
“pick up ff
some | bar-
gains” in
Bahamian
equities over
the next 12-
18 months, a financial expert
told Tribune Business yester-
day, with the selling pressure
coming largely from retail
investors.desperate for cash.

Kenwood Kerr, Providence
Advisors chief executive, said
retail investors’ need for liquid-
ity - which in some cases had
caused a build-up.of more than
20 ‘sell’ orders for a particular
stock - was likely to depress the
BISX All-Share Index’s perfor-
mance, and that of other mar-
ket-linked indices such as the
FINDEX.

He pointed out, though, that
the selling pressure was not
being driven by the normal cap-
ital markets fundamentals, such
as company earnings and their
future growth prospects, but the
need “just to get out or cause
~ people to come in and buy their
shares.

Noting that liquidity was
“always going to be a chal-
lenge” in a Bahamian capital
market thinly populated by
investors, Mr Kerr said that
when it came to a timeline for
market recovery: “I suspect it’s
12-18 months from now.”

He added: “The reason that I
would attach to the amount of
retail persons trying to sell is
that persons are feeling this
credit crunch. They need cash,
liquidity, and rather than going
to the bank and having difficul-

ETT ni

SEE page 4B

TRIBUNE





SAARI

WEDNESDAY,

SRW RAVE

OC

By NEIL HARTNELL
Tribune Business Editor

newly-launched
Bahamas-based shipping
~ agency has won the port
k agent contract to service
nival Cruise Lines vessels that

an reveal, a move that has caused
Tn among its rivals due to the
s seeming links with a major
rnational shipping service

nchcape Shipping Services
ihamas) was said by sources to
e been appointed by Carnival as its
B amas port agent on October 23,
ith some competitors ques-

ether the world’s largest



TOBER 29, 2

in this nation, Tribune Business






But competitors concerned —
about seeming affiliation |
with major global shipping
services provider, fearing
its entrance could squeeze i
their business




















cruise line put the contract out to ten- :
der because they were not invited to
bid. =
When contacted yesterday by Tre,
bune Business, Inchcape Shipping Ser-__
vices (Bahamas) general manager, _

SEE page 4B



ROYAL FIDELITY

Money at Work

NASSAU OFFICE

(242) 356-9801

FREEPORT OFFICE
(242) 351-3010



New $100m waste

energy plan revealed

@ By NEIL HARTNELL
Tribune Business Editor

A RENEWABLE energy firm head-
ed by a former Canadian government
minister was yesterday said to have

linked with a Bahamian partner to pro- -

pose a “$100 million-plus investment” in
a New Providence waste-to-energy plant
that will create more than 50 full-time
jobs.

In the latest submission revealed to.

Tribune Business for the Bahamas Elec-
tricity Corporation’s (BEC) Request
for Proposal (RFP) on renewable ener-
gy supplies, GPEC Global (Canada),
which is headed by that country’s for-
mer minister of labour and housing,
Joseph Fonseca, said it had partnered
with Bahamian company, ENERSOL
(Bahamas), for the proposed project.

The partners told this newspaper they
had proposed constructing a waste-to-
energy conversion plant, again at the
site of the landfill off Tonique Williams-
Darling Highway, to produce some 20
megawatts-plus (MW) of electricity per
day that would be sold to BEC.

The plant would have in-built flexi-

Proposal to BEC aims
to create 50 full-time
jobs and supply
20MW of electricity

bility, possessing the ability to process
300, 500 or 800 tonnes of municipal
waste, per day, and create 50 full-time
and “hundreds of temporary” job
opportunities.

GPEC added that the project, if
selected and approved by BEC and the
Government, would - like its competi-
tors - create spin-off opportunities in
areas such as research and develop-
ment, health, housing and education.

The Canadian company would build
the plant, which it said would be oper-
ational no later than 15 months after
the construction start, under a
build/own/operate contract.

“We framed the proposal in order to
address the waste disposal problem and

SEE page 4B

‘Boring’ Freeport a tourist turn-off

@ By NEIL HARTNELL
Tribune Business Editor

FREEPORT'’s hotel and
tourism industry woes are
largely: due to it being “an
extremely boring destination”

* Architect aims to fix city’s lack of attractions with weekend workshop
* Argues that Freeport allowed qualities that first brought i in visitors
to ‘dissipate’ without any replacements

that has allowed the attractions
that first brought visitors there
to “dissipate” without being
replaced, a Bahamian architect
told Tribune Business.

Patrick Rahming, of Patrick
Rahming & Associates, will this
Saturday aim to address this
weakness directly, hosting a
workshop at the Our Lucaya
resort that aims to educate the
private sector on the Develop-
ment of Attractions.

The workshop will feature
presentations by global enter-
tainment industry specialists,
such as Bill Coen and Eric Gor-
don, chief executive and cre-
ative director respectively of
ITEC Entertainment, and

Cable Bahamas in
11.3% profit rise

CABLE Bahamas yesterday
unveiled an 11.3 per cent
increase in 2008 third quarter
net income to $5.872 million,
although the year-on-year
increase was less than the per-
centage achieved for the first
nine months.

While the BISX-listed com-
pany saw revenues increase by 7
per cent to $20.514 million,
compared to $19.161 million,
during the three months to Sep-
tember 30, 2008, this was out-
shone by the 9.3 per cent oper-
ating expenses growth - indi-
cating that rising costs are also
impacting Cable Bahamas’
operations.

With operating expenses
increasing from $9.7 million to
$10.062 million year-over-year,
_ gross profits for the 2008 third



But operating expenses

rise shows cost increases

beginning to bite

quarter rose by only 4.8 per cent
- from $9.461 million to $9.912
million.

With depreciation and amor-
tisation remaining relatively flat,
Cable Bahamas saw third quar-
ter operating income grow by
4.2 per cent to $6.825 million
from $6.548 million.

But, aided by a fall in interest
expense from $709,000 in 2007
to $491,000 this year, and a
$100,000 drop in preference
share dividends, third quarter
net income rose by 11.3 per cent
to $5.872 million, compared to
$5.277 million last year.

Cable Bahamas also spent
$114,000 less on its share repur-

_ chase programme than it did a

year ago, expending $146,000.

As for the year-to-date, Cable
Bahamas has so far shrugged
off the effects of the declining
Bahamian economy, largely due
to the fact that its products are
an ‘essential utility’ - much like
electricity and water - that con-
sumers cannot do without.

Net income for the nine
months to September 30, 2008,
was up 20.4 per cent at $18.777
million, compared to $15.59 mil-
lion in 2007.

Revenues were ahead by 8.3
per cent at $60.903 million, com-
pared to $56.208 million in 2007,
while operating expenses had
increased at a more moderate
pace - by 5.5 per cent to $28.895
million.

SEE page 5B

Nadir Hassan of the New
Orleans Jazz and Heritage Fes-
tival.

Mr Rahming said the work-
shop, which is being sponsored
by the Ministry of Tourism and
the Grand Bahama Port
Authority (GBPA), would also
havea distinctly Bahamian
flavour through an afternoon
session focused on the planning
and development of a Bahami-
an theme park concept.

“We'll take the theme park
idea developed by a Freeport
individual, which at this point is

just an idea, and demonstrate

how to take that idea from the
idea stage to project develop-
ment and the market,” Mr Rah-

ming told Tribune Business.

“I have been doing talks in
Freeport based on my con-
tention that I know how to fix
Freeport. In February, and
again last month, I spoke to the
Rotary Club there on develop-
ing the tourism economy in
Freeport.

“The bottom line is that
Freeport is an extremely boring
destination......... The reason the
hotels are in trouble is simply
that Freeport is a terrible des-
tination. There is no reason for
tourists to go to Freeport.”

Mr Rahming explained that
originally there were three
compelling reasons for tourists
to visit Freeport - golf; themed

Make it ar eality. |

* Pension Plans

* Mutual Funds

* Stock Brokerage

* Corporate Finance

* Investment Management

* Trusts & Estate Planning
* Personal Pension Plan Accounts .

* Education Investment Accounts

AUP

Nassau: 242.356.9801
Freeport: 242.351.3010

BARBADOS
St. Michael:

_royalfidelity.com

ELAS) =1

shopping in the Bazaar; and a

single North African-themed
casino.

However, he said that even-
tually a single casino became

no great attraction in and of

itself, while the themed shop-
ping environment also disap-
peared. While golf was present,
Mr Rahming said it had not
been effectively managed and
developed, nor billed as an
attraction. |

“All the major attractions
have gone through misman-
agement and neglect,” he told
Tribune Business. “Over time,
they've allowed the reasons for
people to come to Freeport to
dissipate without doing any-

z

thing to replace those reasons.” -

In a recent speech to the
Freeport Rotary Club, Mr Rah-
ming contrasted the success
enjoyed by the Freeport Con-
tainer Port, harbour and ship-
ping industries, aided by a well-
defined, clear strategic plan
from Hutchison Whampoa,
with the apparent lack of focus
on the island’s tourism prod-
uct.

Too many in Freeport, he
argued, were focused on the
Port Authority’s health and its
ongoing ownership dispute,
rather than on tourism, which
was the primary source of
employment and business for
many.

ROYAL 3 FIDELITY

Money at Work





PAGE 2B, WEDNESDAY, OCTOBER 29, 2008

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@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas’ economic
growth is likely to be “less” than
International Monetary Fund

and 2009, a senior insurance
executive has warned, with this
nation having to “travel a rough
road over the next 12-18
months”.

Chester Cooper, British
American Financial’s president
and chief executive, said that if
the proposed US $700 billion
banking sector bailout, and sim-
ilar measures taken elsewhere,
quickly restored stability in the
global financial system and cap-
ital markets, resulting in a con-
sumer confidence rebound, the
Bahamas “might see some mild

The following persons are asked to contact

STOR-IT-ALL OF NASSAU, LIMITED

in connection with items left in storage:

HATTIE MOXEY

ANTHONY WOODSIDE

ADRIAN MILLER
SHELTON SMITH
JASON ALLEN

ALPIN O. RUSSELL JR.
OLGA TOLER
VALMORE BULLENS
MAJORIE THOMAS
CRYSTAL GLINTON

All rentals must be paid and items removed no later than November 14th, 2008

stor-Iit-all

stor-it-all
Soldier Road

(by Lowe’s Wholesale),
Telephone: 393-0964



PROCLAMATION

WHEREAS, Great Commission Ministries International was founded in 1987 to
. \

assist the poor, the needy and the homeless;

AND WHEREAS, Great Commission Ministries International is a non-profit,

global. non-governmental organization whose mission is to bring reconciliation,

restoration and hope to persons affected by poverty, crime, drug abuse and broken

relationships;

- AND WHEREAS, the non-profit organization has developed invaluable

programmes to assist these individuals;

AND WHEREAS, thousands ‘of persons have been served through the

ministry’s emergency shelters, feeding centre, food bank, clothing distribution

centre, after school homework. and reading centre, counseling centre, drug

rehabilitation programmes and other ministries:

AND WHEREAS, Great Commission Ministries remains committed to assisting

fire and disaster victims and defending the rights of the poor;

NOW THEREFORE, I, Hubert A. Ingraham, Prime Minister of the
Commonwealth of The Bahamas hereby, proclaim Wednesday, 29" October, 2008
as “GREAT COMMISSION MINISTRIES DAY”.

IN WITNESS WHEREOF, I have
hereunto set my Hand and Seal this
day of ayk October, 2008.

fhe digo

HUBERT A. INGRAHAM
PRIME MINIS

Bahamas ‘won’t

(IMF) projections for both 2008

indicators of improvement by
the fourth quarter of 2009”.

While the IMF had down-
graded the Bahamas’ projected
gross domestic product (GDP)
growth from three per cent to
one per cent for 2008, and to
1.2 per cent for 2009, Mr Coop-
er said: “No disrespect to them
as the respected authority on
these matters, but I think it will
be less.

“T suspect 2008 and 2009 will
be a wash - more like 0.2 per
cent at best. This would be
more in line with their very own
projections for the US and
Europe. I therefore do not
expect the Bahamas’ economy
to defy gravity and beat the
odds.”

Addressing the Exuma Busi-
ness Outlook conference, Mr
Cooper said the key economic
indicators for the Bahamas
were not looking good.

On the unemployment front,
the percentage of Bahamians
actively looking for work but
unable to find it had risen to
just under 9 per cent, accord-
ing to the latest Department of

Madeira Plaza
322-7647
Robinson Road
322-3213

7
«| \
fs \
; NS

STO

POM
GC
N

SS
\N

ies cy Colt



Statistics data.

However, discouraged work-
ers - those who had given up
seeking a formal job - account-
ed for another 3 per cent of
Bahamians who were at an eco-
nomically active age, meaning
the real unemployment rate in
the Bahamas was at least 12 per

‘cent.

The tourist-arrivals data was

also gloomy, Mr Cooper said,

with the Ministry of Tourism

THE
LIGHTHOUSE
QUILTERS

5'" ANNUAL
QUILT SHOW

DATES: NOVEMBER_
30 & 31

TIME: |
10A.M. - 5P.M.
PLACE:

THE SALVATION
ARMY

IVANHOE ROAD
(OFF MACKEY STREET)



+ WR ASSS
«
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\

A

THE TRIBUNE

defy gravity’ over growth

reporting total visitor numbers
were down 9 per cent for the
2008 first half, with Exuma off
by 12 per cent.

One consequence stemming
from this was that hotel occu-
pancies were also down, with
many staff working one, two
and three-day work weeks, and
earning reduced incomes. Cap-
ital inflows from foreign direct
investment had slowed to a
trickle, at best, with home fore-
closures steadily rising across
the Bahamas. .

Mr Cooper said Bahamians
should use the next 12 months,
which were projected to be lean _
economically, to re-position and
adjust. He added: “I was not
satisfied that Exuma was build-
ing a sustainable product/desti-
nation. I was concerned. that
there was little or no entrepre-
neurial growth occurring
around the Four Seasons
Hotel.”

“T need not tell you that we’re
headed full steam for one of the
most challenging financial times
that we’ve seen in perhaps most
of our lifetimes,” Mr Cooper

‘added.

“T tell you, however, with
much pain that we’re not at the
bottom yet. My outlook is that
the slight increase in tourist
numbers (compared to August
and September) that we will see
for November’s Thanksgiving,
and the likely surge in spend-
ing that we will see for Decem-
ber, will mask the true extent
of the situation.

“The lean months just after
Christmas will be the true pic-
ture of our plight. If you think
that these are the ‘rainy days’
for which I told you to prepare
for last year, I’m here to tell
you that there are thunder,
lightning, tropical storms and
possibly hurricanes brewing out
there in the Atlantic. Said dif-
ferently, this will get ‘far worse’
before it gets better.”

For the stories
behind the
news, read
Insight on

Mondays

Harbour Bay
393-6923
Marathon Mall
393-4146

OS
REW/I
Monday, 27th October . (@\

thru
Saturday, Ist November





THE TRIBUNE



WEDNESDAY, OCTOBER 29, 2008, PAGE 3B





Ee Sa A a ae
Exuma
resort

has best

Ou iNas
ever

B By Diane.Phillips
For The Tribune

EXUMA’s Grand Isle
Resort & Spa yesterday
reporting its best October
ever, with occupancy up
more than 50 per cent
year-over-year and its full-
service spa in just a few
weeks.

“The results surprised us
a bit, too, given what we
keep hearing in the mar-



ketplace,” said James
Clabaugh, President, of
EGI Ltd, developers of the
condo hotel located steps
from the beach and Greg
Norman Golf Course in
Emerald Bay, Exuma.
“Tam not sure what to

Retailers are

struggling to
make ends meet

@ By CARA BRENNEN-
BETHEL
Business Reporter

BAHAMIAN merchants are
still feeling the effects of a

declining economy through

decreased sales, amid fervent
hopes that the upcoming
Christmas season will end a dis-
appointing year on a higher
note.

One marketing executive for
a ladies retail store said yester-
day that it was not surprising
that there had been a signifi-
cant decline in business.

“I think everyone that you

ask will tell you that things are
bad. I can say from our store’s
standpoint that we are making
just enough to meet our bills
and pay our staff, so we have
been able to stay open, but that
is about it,” she said. “Still, at

' least they are on a full week’s

work, which we hear is unlike
the hotels, who are on short
work weeks.”

The manager preferred to
remain anonymous, saying she
did not want to risk losing any
competitive edge by disclosing
publicly her company’s status.

She said it was becoming
obvious that more and more

Bahamians were heeding the
warnings of the Central Bank
to exercise financial prudence
during these difficult times.

“You know, people are still
shopping, but clothing is not a
necessity like food, and even
with food, people are only buy-
ing the necessities when they
go into the food stores,” ‘the
manager said.

She added that they while
they were hopeful for a good

Christmas, they have been prac- ’

tical in their ordering for the
season.

“You have to be realistic,
because you don’t want to have

to order all these things that |

you will not be able to sell in
December and then have to put
on sale in January and Febru-
ary,” the manager said.

She pointed out that even
with their big annual Septem-
ber sale, the numbers were not
as good as they have been in
previous years.

Set clocks

back this
weekend

WASHINGTON (AP)
— Standard time returns
this weekend, so set your
clocks back an hour Satur-
day night. |

Most Americans will get
an extra hour-of sleep, but
those working overnight
shifts will toil an hour
longer.

It also means some will
forget to change their
clocks, and will show up an
hour early for church or oth-
er events on Sunday.

The time change doesn’t
apply in Arizona, Hawaii,
Puerto Rico, the Virgin
Islands, American Samoa,
Guam and the Northern
Mariana Islands.





NOTICE

NOTICE is hereby given that GARRY BRANCHEDOR of
CROOKED ISLAND STREET is applying to the Minister

‘ responsible for Nationality and Citizenship, for registration/

naturalization as acitizen of The Bahamas, and that anyperson
who knows any reason why registration/ naturalization should

not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 29TH day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CARMELA JEAN OF NO. 12
HIBISCUS STREET, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization
‘should not be granted, should send a written and signed
.| statement of the facts within twenty-eight days from the 22ND
day of OCTOBER, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box GT-2299, Nassau, Bahamas.

attribute it to except word
of mouth and people
appreciating quality. The
tougher the times, the
more discerning those who
can spend become.”
Grand [{sle’s rates are
not for the faint of pocket.
Rack rates start at nearly
$500 a night for a one-bed-
room villa, and climb to
almost $4,800 for a 5,400
square foot, four-bedroom
penthouse. And hotel
executives are most wor-
ried that there will not be
enough seats on planes to
deliver guests who want to
book during the height of
the holiday season through

A leading retailer is seeking applications for the position of

a

HUMAN RESOURCES MANAGER

BASIC REQUIREMENTS



\



* Two years experience as a Human Resources Manager or similar position
* Excellent Oral and Written Communication Skills

* Proven organizational and planning capabilities

¢ Assertive, energetic individual with the ability to motivate others

¢ Strong Interpersonal skills and willingness to be a team player

Spring. when the newly-
expanded wedding pack-
ages are expected to lure
more guests with families
and friends.

“We also have a new
website. which we have
received a lot of compli-
ments on,” said Mr
Clabaugh, “and recently,
we have had several guests |

|
{







check in saying they c chose
Grand Isie after reading
the Teviews on tripadvi-
sor.com.
Tripadvisor.com is a
popular website that posts
frank visitor reviews, fre-
quently more negative
than glowing. But postings
on Grand Isle have been
so positive that, for the
past few years, the hilltop,
oceanfront resort has con-
sistently ranked number
one iit Exuma. Recently,
it moved up to number
two overall in the
Bahamas, ranking second
only to Rock House, a |

nine-room boutique inn in
Harbour island.

Despite Grand Isle’s
success, operating the
resort in a tight leisure
iravel market is a constant |
balancing act between cost
containment and deliver- |
ing quality. |

“Operating a “condo
hotel, where revenue is
split with unit owners, and
saiisfying the requirernents
of a high-end resort means
constant vigilance, partic-
ulariy in this market where
fuel costs are unpre-
dictable, and where resorts
are vulnerable to other
forces driving demand,”
said Shervin Penn, Grand

Isle’s assistant manager.

“We have done some
restructuring, outsourcing
some areas of operations
to Exuma businesses, and
we continue to look for
ways to control expenses
while maintaining the
highest level of service.
Service is our top priority,
so we constantly engage in
training. That’s one area
where you cannot trim
costs. It is ongoing and
essential. Looking ahead,
we would like to think our
biggest problem next year
will be persuading ee
to increase airlift.”

a





¢ Must be multifaceted and prepared to work flexible hours if necessary
: 6

SUMMARY OF DUTIES

e Recruitment of staff

® Monitor disciplinary procedures

¢ Formulate Job Descriptions

* Design and implement training programs
» Administer established procedures

The Successful candidate will become a part of a growing and progressive organization
capable of facing challenges. Benefits include a comprehensive medical and life

package.

Salary is commensurate with qualifications and experience.

Interested persons may forward a copy of their resume, in confidence to: .

. Please submit your resume in confidence to:

The Managing Director

P. O. Box N-623
Nassau, Bahamas



Fax: 322-6607 / 328-5902

OF riser et on Ls

f

The Bahamas Telecommunications Company Ltd. (BTC) is pleased
to invite Tenders for the purchase of miscellaneous obsolete items
including Cables & Accessories, Communication Devices, Fiber
Accessories, General Hardware, Payphone & Accessories, Phones
& Accessories, Power Equipment, Stationary, System Cards and

Tools.

Interested companies/firms may collect a Tender Specification
from the Security’s Desk located in the Administrative building on

John F. Kennedy Drive, between the hours o

o.m. Monday through Friday.

9:00 a.m. and 5:00

The deadline for submission of tenders is Friday, November 7, 2008.
Tenders should be sealed and marked “TENDER FOR THE PURCHASE
OF MISCELLANEOUS OBSOLETE ITEMS” and should be delivered to
the attention of the “Mr. Kirk Griffin, Acting President & CEO,"

BTC RESERVES THE RIGHT TO REJECT ANY OR ALL TENDERS.

www.btcbahamas.com



| to be marked “Exhibit KDS-1 and
Order and the Affidavit in support of the Order.



COMMONWEALTH OF THE BAHAMAS 2007/CLE/gen/00894
IN THE SUPREME COURT
Common Law & Equity Division

BETWEEN
SUISSE SECURITY BANK & TRUST LTD.

(In Liquidation) Plaintiff

AND

MOHAMMED HARAJCHI First Defendant

MICHEL HARAJCHI Second Defendant

SONJA HARAJCHI Third Defendant

CHRISTOPHER LUNN Fourth Defendant

DEREK RYAN Fifth Defendant
AFFIDAVIT. .

I, KERI DAVIDE SHERMAN of the Western
District of the Island of New Providence, one of the
Islands of the Commonwealth of The bahamas, Attorney-
at-law, make oath and say as follows:-

1. That I am an associate attorney at the firm of

Messts. McKinney, Turner & Co., Oakbridge House West
Hill Street Nassau, Bahamas Attorneys for the Plaintiff
and I am duly authorized to make this Affidavit on behalf
of Raymond Winder, the Official Liquidator of Suisse
Security Bank & Trust Limited (hereinafter referred to
as “SSBT”) (In Liquidation), the Plaintiff and I make
this Affidadit in support of the Plaintiff’s prayer that the
injunction granted by this Honourable Court on 13" July,
2007 be continued as against the First Defendant.

3. Notwithstanding many attempts made by Mr.
Claude Toppin, a former Supreme Court Bailiff, to ‘effect
service of fet Weit of Summons on the First Defendant,
including several trips to his usual or last known address
on Paradise Island, Mr. Toppin has to date been unable to
effect service of the said Weit on him. The persons at the
First Defendant's residence always advise that the he 1 is off
of the Island,

4. We were forced to obtain an Order for substituted
service on 2â„¢ July, 2008. There is a roduced and shown
S-2” a copy of the

) 5. The Official Liquidator is fearful that the First
} Defendant may attempt to liquidate his remaining teal

assets in The Bahamas, namely i properties listed in the

| Order granted on 13" July, 2

6. The Plaintiff therefore requests that the injunction
‘| xemain in place until a further Order ts sought to prevent
| the sale of the referenced properties and freeze the assets
' of the First Defendant.

q. That the contents hereof are true and correct to

the best of my information, knowledge and belief.

SWORN TO in the City of Nassau,
New Providence this 22â„¢ day of
October, 2008

a

Before me

NOTARY PUBLIC



PAGE 4B, WEDNESDAY, OCTOBER 29, 2008

BUSINESS

THE TRIBUNE



New $100m waste energy plan revealed

FROM page 1B

the ensuing issues,”
Fontana. “GPEC Bahamas will
be present and very active in
the community for a long time.
Our $100 million-plus invest-

said Mr

ment is fully financed, and
ready to serve.

“It is no secret th. the
Bahamas is proprietor to one
of the wealthiest natural
resource portfolios in the world
on a per capita basis.”

Edward Ferguson,
spokesman for ENERSOL

Legal Notice
Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4)
of the International Business Companies Act, (No.45 of 2000),
CASSEL CORPORATION. is in dissolution. David J. Rounce |
is the Liquidator and can be contacted at 132, Yorshire Street,
Nassau, Bahamas. All persons having claims against the above-
named company are required to send their names, addresses and
particulars of their debts or claims to the Liquidator before 10th

November, 2008 ,

David J. Rounce
Liquidator

NOTICE

INTERNATIONAL BUSINESS COMPANIES BCE
(No.46 of 2000)
. BLUEPRINT MEDIA ENTERPRISES LIMITED
IBC N° 99,272 B

In Voluntary Liquidation

NOTICE is hereby given that in accordance with Section 131 (2)
(a) of the International Business Companies Act No. 46 or 2000,
Blueprint Media Enterprises Limited is in dissolution. .

Any person having a Claim against the above-named Company 1s
required on or before the 25th August 2008 to send their name,
address and particulars of their debts or claim to the Liquidator of
the Company, or in default thereof they may be excluded from the
benefit of any distribution made such claim is approved.

Mrs.. Rosana Hollins of Suite 2B, Mansion Huse, 143 Main Street,
Gibraltar is the Liquidator of Blackthorn Consultants Liinited.

Anniversary Sale!

STUDIO OF DRAPERIES
Saturday Nov. Ist 9am - Spm

FREE Gifts to first 20 Purchasing Customers

‘Double Drapes - $119.00
Double Sheers - $110.00
Triple Drapes - $133.00
Triple Sheers - $123.00

Kitchen Curtain Set - $25.00
Gdthered and Pinch Pleated Valances (Limited



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Supply) - $50.00
Rods - 10% off
Woad Poles - 10% off



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Wulff Rd. Tel: 323-6410



(Bahamas), yesterday told 'Tri-
bune »uoiness that the owner-
ship split - meaning how much
of the plant would be owned by

_ itself, and the percentage of the

shares held by GPEC - had not
yet been worked out.

“The final split hasn’t been
decided yet,” he said. “GPEC
will be providing most of the

funding itself, and we will be _

providing some from this side
as well. We’ll have a significant
stake in the plant. It'll be a very
good opportunity all around the
country for everyone to bene-
fit.”

Mr Ferguson said he was
unable to disclose who the oth-
er shareholders in ENERSOL
(Bahamas) were, but added that
the company was interested in
developing other forms of sus-
tainable, ‘renewaine energy,
such as wind and solar power.

“The thinking is that hope-
fully we can progress on even
further from garbage to wind,
solar, everything if we’re cho-
sen,” Mr Ferguson said, “ as we
have the capability to go into
other areas as well. If we can
get this [the waste-to-energy

plant] established, we will defi-
nitely be able to niave into
those areas.”

Mr Ferguson said “there’s
potential on other islands” such
as Abaco, Eleuthera and Inagua
for solar and wind power,
although no island apart from
New Providence generated
enough municipal waste to fuel
a waste-to-energy plant.

'“For Enersol, partnering
alongside GPEC is a great
opportunity. We intend on
assuming leadership in the area
of renewable energies through-
out the region. We will develop
and enrich existing engineering
know-how and resources, while
supporting scientific, industrial
and social initiatives in the com-
munity,” said Mr Ferguson.

“Our system design is eco-
nomically and technically flexi-
ble. Once implemented, it is a
very transparent and riskless
concept, permitting BEC
options.”

GPEC, meanwhile, said it
had other proposed projects in
Europe, the Middle East and
Latin America, and was cur-
rently working on a waste-to-

energy conversion in Mexico.

The GPEC-ENERSOL
(Bahamas) proposal is the
fourth waste-to-energy propos-
al submitted to BEC that has
been revealed by Tribune Busi-
ness.

Plasco Energy Group sub-
mitted a $100 million proposal
for a six-acre New Providence
plant that will-convert some 400
tonnes of garbage per day into
21 megawatts (MW) of electri-
cal power, an amount equiva-
lent to 5 per cent of BECs cur-
rent electrical needs.

Bahamas Waste is partnering
with Cambridge Project Devel-
opment Inc in the construction
and operation of a proposed
$250 million waste-to-energy
facility for New Providence,
with plans to initially produce
10 per cent cf BEC’s nation-
wide electricity demands and
earn this nation “millions of dol-
lars” from carbon credits.

And a Bahamian consortium
has teamed up with a Califor-
nia-based technology supplier
to submit a $100 million waste-
to-energy plant proposal that
could earn this nation “millions

of dollars”.

That consortium is led by
Ginny McKinney, president of
Waste Not. Apart from Ms
McKinney and Waste Not, the
group’s other shareholders
include other Bahamian waste
industry participants, including
Henry Dean, of United Sanita-
tion, and Wellington Rolle of
Impac.

Some 90 per cent of Bahamas
Renewable Energy Resources’
equity will be held by Bahamian

investors, with a small share-

holding retained by its technol-

~ ogy partner, Carbon Sequestra-

tion, a firm with 36 years’ expe-
rience in alternative energies.

‘Bahamas Renewable Energy
Resources’ directors include
Bennet Atkinson, an accoun-
tant who also sits on FamGuard
Corporation’s Board; well-
known financial adviser Larry
Gibson, vice-president of pen-
sion services for Colonial Pen-
sion Services (Bahamas); con-
tractor Thomas Whitehead;
banker Bruno Roberts, a for-
mer Bahamas Financial Services
Board (BFSB) chairman; and
Larry Smith.

Bahamas-based shipping
agency wins Carnival deal



FROM page 1B

Captain David Hall, was reluctant to com-
ment, repeatedly stating that a press release
on the company’s creation and aims would
be “out very shortly”.

However, he effectively confirmed that
Inchcape Shipping Services (Bahamas) had
secured the Carnival port agency business
when asked by Tribune Business, saying:
“That will be included in the press release.”

Inchcape Shipping Services (Bahamas)
appears to be affiliated in some way with
Inchcape Shipping Services, a global marine
services provider that has some 200 world-
wide offices and serves shipping clients in
the oil, cruise ship, navy and defence, con-
tainer and bulk commodity sectors.

The global company supplies port ser-
vices, machinery services, cargo services,
depots and liner services, plus a whole host
of other functions. .

A search of the Inchcape Shipping Ser-
vices website provides details on Inchcape
Shipping Services (Bahamas), listing its
offices in Nassau and Freeport and staff
contact numbers.

Apart from Captain Hall, the Freeport
office has seven staff and is based at the
Jasmine €orporate Centre. The Nassau
office, headed by port manager Michael
Hall, a former Global United executive,

has a two-strong staff and appears to be
operating from a residential address, as its
office is listed as No. 1 Yorkshire Drive,
Chapman Estates, Cable Beach West, Nas-
sau.

When contacted yesterday, Michael Hall
referred this newspaper to Captain Hall for
comment. When questioned about the con-
cerns rival shipping companies had about
Inchcape’s involvement, and the presence of
a major global player in the Bahamian ship-
ping ageney industry, Captain Hall replied:
“T can’t see why they would be concerned
about that.”

When probed about the nature of the
tie-up between the Bahamian operation
and Inchcape, and whether the latter had
any equity interest in the former, Captain
Hall said: “I -have no knowledge of that,
and I’m 100 per cent Bahamian.”

When asked whether he meant that he
and other Bahamians owned Inchcape Ship-
ping Services (Bahamas), he replied: “Yes,
sir.

Suspicions about foreign ownership it in
Inchcape Shipping Services (Bahamas)
appear to have been fuelled by the fact that
the bank to which payment for the compa-
ny’s services have to be made is the New
York-based branch of Bank of New York,
according to the head office website, rather
than a Bahamian bank.

One shipping industry source told Tri-
bune Business that rival agencies were like-

ly to raise concerns with the Government
over the potential tie-up to Inchcape Glob-
al, the fear being that the Bahamian oper-
ation could exploit the latter’s worldwide .
network and economies of scale to undercut
its Bahamas-based rivals and seize busi-
ness, putting them out of work.

A source, who requested anonymity, said:

“A concern is their ability to undercut
everyone in the Bahamas, as they can sub-
sidise it with the other business they do, or
just wait to put eye yone else out of busi-
ness.”

Given Michael Hall’s former post at

Global United, it appears likely that Inch-
cape Shipping Services (Bahamas) has been
formed by former employees of the firm
owned by PLP Clifton general election can-
didate, Jackson Ritchie.
, Global United was the previous port
“agent for Carnival, so it appears that the
business may have moved with the former
employees.

Captain Hall is also understood to have
previously formed a business called North-
star Shipping Agents, which seems to have
been folded into Inchcape Shipping Ser-
vices (Bahamas).

When leaving a message on his cell phone ~
yesterday, this newspaper was tcld it was
calling Northstar Shipping Agents. And
when Tribune Business called the Freeport

‘office, the phone was answered as “ISS

(Bahamas) and NorthStar”.

Stock ‘bargains’ await in next 12-18 months

FROM page 1B

ty in qualifying [for a loan], they
raise it this way.

“Companies’ earnings do not
justify exiting the market. The
pressure to sell is coming from
the need for cash. All the peo-
ple with the cash, who can wait,
could be picking up some bar-
gains there.”

Mr Kerr said such trends typ-
ically favoured institutional
investors, such as Bahamian
pension funds and insurance
companies, who had “longer-
term horizons” due to the need
to match long-term investment
assets to liabilities.

“They're typically on the buy-
ing side, because they have
longer lead times and their risk
profile is different. They can

yaN woceeieenn is seeking applications for the petite of .

| ADMINISTRATIVE ASSISTANT/ACCOUNTS eno

REQUIREMENTS:

Applicants should possess the following:
An Associate Degree
Experience in the field of accounting or bookkeeping would be an asset
Must be efficient in the Microsoft Office Suite
Must be Energetic and able to work without supervision
Strong Interpersonal Skills

Good organizational skills and multi-tasking ability

RESPONSIBILITIES:

‘The successful candidate will be responsible for overseeing the daily operations of
| the office, customer enquiries, logistics, local purchasing, reconciliation of accounts

receivables and accounts payables using QuickBooks.
REMUNERATION:

We offer an excellent remuneration package.
Persons interested are asked to please forward your MTT to: -

The Managing Director

P.O. Box N-1483



Email: bmhumanresourcés@gmail.com

wait out these cycles, and when
the selling companies have val-
ue, they pick them up,” Mr Kerr
said.

“The market is not structured
to take out the wholesale liqui-
dation of one particular stock -
at least not immediately. It
would have to be done over
time.”

Bahamian capital market liq-
uidity, which measures the ease

and willingness of investors to’

transact the purchase and sale
of shares, would be improved
if the main investment banks,
Fidelity and CFAL, “can actu-
ally take positions where they
invest in securities and take the
risk”, Mr Kerr said.

He added that this was the
first occasion since the post-Sep-
tember 11, 2001, fallout when

NASSAU PLASTICS
‘COMPANY,
- THE SIGNPOST
AND
THE TROPHY CASE

will be closed

Friday, October 31
We apologize for any
inconvenience to our customers.
We will reopen on
Monday, November 3.
at our usual business hours.



BISX and the Bahamian capital
markets had almost exactly mir-
rored the downward trend of
Wall Street and other global
markets.

“Our investment markets
have never been as connected
to the US as other individual
markets,” Mr Kerr said. “This
may be the first time in a long
time that our market has gone
in the same direction as the US.
In previous years, our markets
have been in positive territory,
while others have been Bees:
tive.”

Michael Anderson, Rovalki
delity Merchant Bank & Trust’s
president, told Tribune Busi-
ness that astute investors in the
Bahamian market would take
the opportunity to buy, espe-
cially in the 2009 first half, if





sen PARKGATE ROAD, 393-1332:

they felt companies with good
growth fundamentals were
undervalued.

“You're going to have to be a
bit more selective in buying
than just following the market,”
Mr Anderson explained. “All -
that’s happened is that buyers
have stepped back from the
market and are not willing to
step in, so unsupported stocks
are getting sold at a discount.

“In a normal market, there
are sufficient buyers to allow
sellers to exit at a reasonable
price. Share prices tend not to
reflect underlying values. This ts
what markets are like when
there are insufficient buyers,
and sellers have to take what
they can. It’s almost all driven
by market liquidity.”

While the BISX rule pre-
venting stocks trading at more
than 10 per cent above or below
the previous day’s close remains
in place, to guard against wild
price fluctuations caused by
retail investors cashing out at
strange prices, selling pressure
in. 2008 has consistently
increased as “more and more
sellers” - and fewer and fewer
buyers - came to the equities
market.

A survey of open orders
placed for BISX stocks by
investors, which was carried out
by Tribune Business last week,
revealed that there were cur- ,
rently just six unfulfilled ‘Buy’
orders across the entire market.
Of those six, four are for Cable
Bahamas shares, and the com-
pany has been carrying out a
‘share buy back’ scheme to sup-
port its stock price.

The only other companies
with outstanding ‘Buy’ orders
are FamGuard Corporation and
Colina Holdings (Bahamas).

The lack of liquidity in the
Bahamian equities market is
graphically illustrated by stocks
such as Bahamas Waste, which
has seen a build-up of 27 untul-
filled ‘Sell’ orders placed by’
investors, With prices ranging
from $3.80 to $3.23 due to the
seller build-up.



THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 5B





World stock

m@ By PAN PYLAS
AP Business Writer

LONDON (AP) — World
stock markets rose modestly
Tuesday ahead of an expected
interest rate cut from the Fed-
eral Reserve, but disappoint-
ing economic news out of the
US capped the gains.

Early stronger gains in the
Dow Jones index and in Asia,
where Japan’s Nikkei index
recovered from 26-year lows,
pushed Ew ope’s indexes even
higher. But then further woeful
US economic data took their
toll.

The Dow was up 163.38, or
2.0 per cent, at 8,339.45, while
the FTSE 100 index of leading
British shares closed 73.79
points, or 1.9 per cent, higher at
3,926.38.

The CAC-40 index of lead-
ing French shares was up 47.57
points, or 1.6 per cent, at
3,114.92; while Germany’s
DAX was 488.81 points, or 11.3

per cent, higher at 4,823.45 as ,

the share price of Volkswagen
AG more or Jess doubled
again. .

The Dow had opened up
around 300 points but the col-
lapse in the Conference Board-
*s monthly consumer confi-
dence index fueled concerns
about the likely depth of the
expected recession in the US
in the wake of the global finan-
cial crisis.

Board

The Conference Board said
its main index fell to 38.0 in
October, its lowest since the
survey started running 40 years
ago and way down on Septem-
ber’s 61.4. “That was massively
below expectations and the
Dow dropped back after that,”
said David Jones, chief mar-
kets strategist at IG Index.

The FTSE was helped by a
5.4 per cent rise in BP PLC’s
share price after the oil giant
revealed an 83-per cent
increase in net profit in the
three months from July to Sep-
tember to $8.05 billion, while
the DAX was lifted dispropor-
tionately by another 97 per

Cable
Bahamas
in 11.3%
profit rise

As a result, gross profits were
up 11.25 per cent at $31.008 mil-
lion, compared to $27.872 mil-
lion, while operating income
was ahead by 12.3 per cent at
$21.767 million.

Cable Bahamas was again

aided by some $795,000 in
reduced expenses on interest
payments and preference share
dividends combined.

INSIGHT

For the stories
behind the news,
read Insight
on Mondays

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.



cent rise in Volkswagen shares,
which came on top of Mon-

day’s near 150 per cent rise.

VW’s gains have come after
Sunday’s announcement from
Porsche that it had increased
its stake in the company to 42.6
per cent as part of its goal to
take a majority stake. It also
said it held an additional 31.5
per cent in cash-settled options,
that would give it indirect con-
trol of 74.1 per cent of VW
shares.

Analysts

Analysts speculated that
Porsche’s announcement
forced hedge funds to unwind
positions after they had bet on
VW’s shares falling, especially
as the state of Lower Saxony

owns just over 20 percent of

VW stock. That means there’s
only around five per cent of
free-floating VW stock avail-
able.

The gains Tuesday come just
as the US Federal Reserve
begins its two-day interest rate
deliberations.‘At present, the
markets have priced in a half-
pee point cut in the

‘-Fed’s benchmark rate Wednes-

day to a four-year low of 1.00
per cent.
There’s even speculation that
the Fed will cut by three-quar-
ters of a percentage point espe-
cially in the wake of the dire
consumer confidence data.
“We're likely to see choppy
markets ahead of the decision,”
said IG Index’s Jones.
Earlier, most Asian stock

markets rebounded after sev-’

eral days of steep declines as
investors snapped up beaten
down shares like Honda, Sam-
sung and HSBC.

Japan’s benchmark Nikkei
225 index surged 459.02 points,
or 6.4 per cent, to 7,621.92 after
early falling to fresh 26-year
lows.

The Nikkei was helped

somewhat during the session:

by the yen’s depreciation
against the US dollar. The dol-
lar, which had fallen to a 13-
year low against the yen on Fri-
day, rose 3.2 per cent to 95.96
yen. Traders remain on guard

markets rise modestl

we PEDESTRIAN walks i ren of a display SNOT} a " ROE Britain’s aRSaRLOO ae index in London... $





over possible moves by Japan-
ese authorities to intervene in
the market to cap the yen’s
strength after Sunday’s G7
statement warning about excess
yen volatility.

A weaker yen encouraged
traders to buy exporters whose
export potential are limited by
a surging currency. Honda
Motor Co. surged 14 per cent,
Toyota Motor Corp. jumped
7.8 per cent and Sony Corp.
rose 9.6 per cent.

Hong Kong’s Hang Seng
index rose a whopping 14.4 per
cent — its biggest gain in 11
years — to 12,596.29, a day
after plunging more than 12
per cent. South Korea’s Kospi
jumped 5.6 per cent to 999.16,
helped along by the South
Korean central bank’s interest
rate cut on Monday.

Index

Even Shanghai’s main index,
which had fallen six per cent
earlier, turned positive in the
afternoon. Australia’s key

stock measure closed down 0.4

‘ per cent, though sharply pared

earlier losses. Singapore’s mar-
ket index, also down more than
five per cent in morning trad-
ing, turned green in afternoon
trading.

Battered

Brazilian stocks were up
after being battered for weeks
on concerns that. a global slow-
down would throttle the
region's largest economy.
Brazil’s Ibovespa index was up
1.85 per cent at 29,978.

Elsewhere, oil prices were
steady at around $63 a barrel
after recent hefty losses.

On the currency front, the
euro was down 0.2 per cent at
$1.2486, while the pound was
0.1 per cent down at $1.5569.

e Associated Press writers
Kelly Olsen in Soeul, Shino
Yuasa in Tokyo and Malcolm
Foster in Bangkok contributed
to this report.

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

The general public Is Invited to attend Bahamas Development Bank’s sale of repossessed

assets,

Electronic Equipment

ASSETS

Tables

(1) Compaq Presario Computer Tower
(1) Canon Canoscan N640D EX Scanner

(1) Whirl Microwave
Tec Cash Register

(1) Epson Stylus Pro 9600 Print Engine
(1) HP Deskjet 656c Printer (Desktop)

(1) Monitor

(1) 1820 Epson Stylus Color Printer

(1) Keyboard a& Mouse
(1) Brothers Printer

(1) Samsung Digital Camcorder

(1) Dell Scanner a Printer

Machinery
(1) Chrome Juice Filler

(1) Multt Fruit Jutcer
(1) Chrome Mixer
(1) Dell Showcase

(4) Four Burner Stove

(1) Janome Monogram/Embroldery Sewing Machine
(1) Singer Quantum XL150 Sewing Machine with Serger

(1) Singer Sewing Machine

(1) Quilting Sewing Machine

(13) White Bi-Fold Chairs
(2) Breakfast Nools
Towel Warmer

Sterilizer

(1) Tec Cash Register

ef; 2 © @ &¢ & &

Fan Exhaust
Location:

(3) Maroon Banquet. Chairs

(1) £2 gal Electric Water Heater

(1) Wood Table (Round)
(5) Bi-Fold Tables (Rectangle)
(1} Marble Table (Rectangle)

reexers

{1} Two Door Chest Freezer
(1) Singte Door Chest Freezer
(1) Double Door Refrigerator
(1) Single Door Cooler

(4) Shampoo Bowls

(1) Nall Table with (2) Cabiners
(3) Nall Tables

(8) Nall Stools

(2) Faclal Beds (White)

(7) Facial Machine

(5) Halr Dryers

(1) Pedicure Set

(5) Hydraulic Styling Chairs

(4) Shampoo Chalrs

©
(2) Tech Work Benches
(1) Alternator Test Bench
(1) Paint Booth

(1) Rivec Machine

(1) 4” Storage Cabiner
(1) 4” Tool Cabinet

Brake Washer
Sand Blaster
Vart-Drive

Cooking Utensils Pots, Pans ax Plates

Nassau, Bahamas

Directions:

Inland Steel, Sumner Street off Solider Rd.

Exit Abundant Life Road tum right onto Sollder Road then the first

left. onto Sumner Street tenth two storey white a blue building on
the left

Date et Time:

10:00am, ~ 4:00p.m. ~ Saturday November 1, 2008

All assets are sold as is where is for cash, cashier’s cheque. No purchase(s)
will be released untll paid in full,

For additional information telephone 327-5780, the Bahamas Development Bank reserves the right to

reject any or all offers.





JOB VACANCY AT PRIME BAHAMAS
Mechanic Helper

We are seeking a professional and reliable person to assist in the.
Mechanic Shop to work on diesel vehicles. The qualified applicant

must have had 2 years prior experience and be willing to work under

Supervision, time requirements. References are required, and helpers

with their own tools is a plus.




OSE OE

Please send your resume and references to the Warehouse Manager,
via fax, email or in person:

OF TTR

Attn: Craig Rahming

Prime Bahamas
crahming@primebahamas.com
fax: 394-0282



COMMONWEALTH OF THE BAHAMAS 2007 /CLE/gen/00894

IN THE SUPREME COURT .
Common Law & Equity Division






wa ae

BETWEEN

SUISSE SECURITY BANK & TRUST LTD.
(In Liquidation) Plaintiff













AND

a ah hh

MOHAMMED HARAJCHI First Defendant
MICHEL HARAJCHI
SONJA HARAJCHI

CHRISTOPHER LUNN



Second Defendant
Third Defendant
Fourth Defendant










DEREK RYAN Fifth Defendant






EX PARTE SUMMONS



LET ALL PARTIES CONCERNED attend before
a Judge of the Supreme Court in the Supreme Court Building
Bank Lane, Nassau, Bahamas on

the day of A.D. at
o’clock in the noon on the hearing of an application by the
Plaintiff for an Order that the First Defendant MOHAMED
HARAJCHI be restrained, whether by himself or by his
servants or agents or otherwise by injunction until judgment in
this action or further order from doing the following act that is
to say disposing of, conveying selling transferring mortgaging
encumbenng or otherwise dealing with all those real properties
owned by the First Defendant situate on Paradise Island, New °
Providence, The Bahamas compnising the following, viz.










(1) ALL THOSE (2) parcels or lots of land situate
on the Southern Coast of Paradise Island one
of the Islands of the Commonwealth of The
Bahamas being Lot (7) & Lot (8) in the Block
(2) on the Plan of the Subdivision called and
known as “Paradise Island Colony”.

(2) ALL THAT condominium Unit (5) “Cloister
Estates” a Condominium according to and as
more particularly described in the Dedlacation
which condominium is located on the Lot
(2) and (13) aforesaid together with Unit
entitlement of (38/1000) undivided interest ,
in common property appurtenant to Unit (5)
and together with an assignment or parking
space 6) designate in Be Declaration as

‘Limited common Property.

(3) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block (2) of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City >
of Nassau in the Island of New Providence.’













were wan td BEECTLSS






(4) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block (2) of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City
of Nassau in the Island of New Providence.





(5) ALL THAT piece parcel or lot of land
comprising Lot (13) Block of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City
of Nassau in the Island of New Providence }
AND ALSO ALL THAT piece parcel or lot
of land comprising Lot (2) Block (6) of the
said Subdivision.






a

AND that provision be made for the costs of this
application.




Dated the 22â„¢ day of October, A.D. 2008




BY ORDER OF THE COURT





REGISTRAR



Si£e8&£88 SGhew se eer ese es ee See SAS URE EUR HEAR BOD

OE ar aS ae

CEO SEW SK Ow



THE TRIBUNE
ee me pa

PAGE 6, OCTOBER 29, 2008

: b. —_ Basis of consolidation
THE WINTERBOTHAM TRUST COMPANY LIMITED : \

i, Subsidiaries - subsidiaries are entities controlled by the Company. Control exists
when the Company has the power, directly or indirectly, to govern financial and
operating policies of an entity so as to obtain benefits from its activities. In
assessing control, the potential voting rights that presently are exercisable or
convertible are taken into account. The balance sheets of the subsidiaries are
included in the consolidated balance sheet from the date that control commences

‘CONSOLIDATED BALANCE.SHEET
AS OF JUNE 30, 2008 ’
(Expressed in United States dollars)

ome me until the date that control ceases.
ASSETS au . ;
= 7 ‘ ii, | Transactions eliminated on consolidation - intra-group balances are eliminated in
een Asa > preparing the consolidated balance sheet.
Cash and cash equivalents (Notes 5, 17 and 18) $ 8,945,507 $ 5,466,574
Accounts receivable - net (Notes 6, 17 and 18) 513,760 591,207 iii, | Fiduciary assets - assets held in trust and in custody on behalf of customers, and,
Prepaid expenses and other assets (Notes 7, 14, 17 and 18) 1,211,042 716,495 assets and liabilities under fiduciary agreements are not included in the
Secured loans (Notes 8, 17 and 18) 540,000 1,234,000 ; . consolidated balance sheet.
pene Nes ea eT) ‘ 899,564 _2,056,820 c, Cash and cash equivalents - Cash and cash equivalents comprise cash on hand, call
Total current assets 12,909,873 _ 10,065,096 - accounts, short term deposits and margin accounts with brokers.
NON-CURRENT ASSETS: : Aue aoe
. A ts ivable - Accounts receivable are stated at cost less impairment losses (see
Security deposits (Notes 17 and 18) 285,947 205,490 aay ener ae
Fixed assets (Note 10) 3,399,668 3,808,482
Deferred tax assets (Notes 15, 17 and 18) -___70,457 47,095 in , e. Secured loans ~ Secured loans originated by the Group are recognized when cash is’
Total non-current assets 3,756,072 4,061,067 advanced to the borrower. They are initially recorded at cost, which is fair value of cash
, Tae \ originated by the Group, including any transaction costs, and are subsequently measured
TOtAt $16,665,945 $14,126,163 at amortized cost using the effective interest rate method.
LIABILITIES AND EQUITY © et A
RRE ; f. Investments - Investments are recognized on a trade date basis and are classified as fair
cu Pe es i A value through profit or loss (FVTPL) and available-for-sale investments. Investments
Call accounts (Notes }1, 17 and 18) $ 4,130,308 $ 4,147,958 : are initially measured at cost and are subsequently remeasured at fair value based on
Accounts payable and accrued liabilities (Notes 12, 14, 17 and 18) 1,551,250 1,137,827 7 quoted prices. Fair values for unlisted securities are estimated using market values of
Dividends payable (Notes 17 and 18) 1,630,000 850,000 the underlying securities or appropriate valuation methods. Where fair value of unlisted
Advances from clients (Notes 13, 17 and 18) 299,240 352,114 investments cannot be estimated, they are carried at cost.
Ca ie ene Nee ele : #79 388 A762 . ; g. Fixed assets - Fixed assets are stated at cost less accumulated depreciation and
Total current liabilities 8,090,686 — 6,935,541 impairment losses. Depreciation is being provided by the straight-line method at the
EQUITY: ; following rates:
Share capital: ' . Housing property 2%
2,500,000 shares of $! each 2,500,000 2,500,000 Office building improvements 6.67% to 25%
rs ’ : 0,
Investments revaluation reserve (Note 9) 350,571 ° 562,695 : \ Vehicles 25 bs
Retained earni 5,724,688 __ 4,127,927 Software 33% to 50%
oe ea : Office equipment : 20% to 50%
Total equity : — 8,575,259 __ 7,190,622 ‘ Office furniture and fittings 10%
ee ; 516,665,245 $14,126,163 h.. Impairment - Fixed assets, accounts receivable, loans and investments are reviewed at

each consolidated balance sheet date to determine whether there is objective evidence of

See notes to consolidated balance sheet. impairment. If any such indication exists, the asset’s recoverable amount is estimated.

The consolidated balance sheet was approved by the Board of Directors on September 19, 2008 and ; ixed assets
is signed on its behalf by: : ‘ Fixed assets

| Me ul L ue y Abbey =
Director oo Director |

NOTES TO CONSOLIDATED BALANCE SHEET
JUNE 30, 2008
(Expressed in United States dollars)

An impairment loss is recognized whenever the carrying amount of the asset or its cash-
generating unit exceeds its recoverable amount.

The recoverable amount of assets is the greater of their net selling price and value in use.
In assessing value in use, the estimated future cash flows are discounted to their present
value using a discount rate that reflects current market assessment of the time value of
money and the risks specific to the asset. For an asset that does not generate cash flows
largely independent of those from other assets, the recoverable amount is determined for
the cash generating unit to which the asset belongs.

An impairment loss is only reversed to the extent that the asset’s carrying amount does

1. GENERAL not exceed the carrying amount that would have been determined if no impairment loss
. had been recognized.
The Winterbotham Trust Company Limited (the Company”) was incorporated and licensed in
the Commonwealth of The Bahamas in 1994 under the Bank & Trust Companies’ Regulation Accounts receivable

Act of 1965, and is a 75% subsidiary of Winterbotham Holdings Limited. In December 1996
the Company was granted a license to carry on unrestricted banking and trust business,
activities which, today, are subject to the terms and conditions of the Bank & Trust companies
Regulation Act, 2000. The Company is regulated by the Central Bank of The Bahamas. The
Company is also a licensed fund administrator and securities broker/dealer, activities that are
regulated by Securities Commission of The Bahamas.

This consolidated balance sheet includes the accounts of the Company and its subsidiaries,
which are hereinafter collectively referred to as “the Group”.

As of June 30, 2008, the Company’s holdings in subsidiarics are as follows:

.

Name of subsidiary Place of — Ownership Principal activity an asset is less than its carrying amount shown in the books of the Group. Impairment is
incorporation _jnterest measured and a provision for credit losses is established for the difference between the
and operation carrying amount and its estimated recoverable value.

The Winterbotham Uruguay 100% Provides administrative services to S vi

Trust Company parent company on intemal matters Foreign currency translation - The Group’s functional currency is United States
(Uruguay) S.A. (such as certain —_ accounting Dollars. In preparing the consolidated balance sheet of the Group, transactions ins o: ingoe
functions) and also with respect to currencies other than United States Dollars are recorded at the rates of ‘exchange
client servicing (with particular foousO YS. OS er prevailing on the date of the transaction. At each consolidated balance sheet date,
on clients in Latin America due. to monetary items denominated in foreign currencies are translated at the rates prevailing
geographical proximity and on the balance sheet date. Non-monetary items carried at fair value that are denominated
language). in foreign currencies are translated at the rates prevailing on the date when the fair value
: was determined. Non-monetary items that are measured in terms of historical cost in a
Shiffel Corp. S.A Uruguay 100% Provides administrative services to foreign currency are not translated. ‘
the parent company on_ intemal .
matters (such as certain accounting j. Provisions - Provisions are recognized in the consolidated balance sheet when the Group
functions) and also with respect to has a present and legal obligation as a result of a past event and it is probable that an
client servicing (with particular focus outflow of economic benefits will be required to settle the obligation.
on clients in Latin America due to .
geographical proximity and Classification - Assets are classified as current when intended for sale in the normal
language). This company opcrates operating cycle,'or held primarily for the purpose of being traded, or expected to be
from a free trade zone which has realized within twelve months, or classified as cash or equivalents. All other assets are
Cerlain 1ax advantages for the classified as non-current. Liabilities are classified as current when expected to be settled
administration of companies in the normal operating cycle, or held primarily for the purpose of being traded, or due to
domiciled outside of Uruguay. be settled within twelve months, or there are no unconditional rights to defer settlement
. for at least twelve months. All other liabilities are classified as non-current.
Winterbotham 9, : :
- Properties Limited Bahamas 100% Holds real-estate in Nassau. Assets under management - Assets under management which are held in a fiduciary
Haplar Holdin . capacity for clients are excluded from the balance sheet, other than those assets and
paris igs Bahamas 100% Holds real-estate in Uruguay. liabilities which’ relate to banking services provided by the Company to these clients.
WNS Limited Ss ; m. Financial instruments - On initial recognition a financial asset or liability is measured
: oo 100% cc igo Secretary for — a fair ap plus irene ee! a eee to re acquisition a — of
WND Limited . A P it nancial asset or liability. er initial recognition financial assets are classi as
Bahamas 100% ae ee Director for client either financial assets at fair value through profit or loss (FVTPL); held-to-maturity
: investments; loans and receivables; or available-for-sale; and are measured at their fair

Delacroix Limited Bahamas 100% Acts as nominee of -The
. Winterbotham —_ Tnust Company
Limited in its capacity as trustec

rs i and/or custodian. "2
Delaroche Limited Bahamas 100% Acts as nominee of The
Winterbotham Trust Company
Limited in its capacity as trustee

and/or custodian. ,

Delaroche Limited and Delacroix Limited are duly licensed and regulated by the Central Bank
of The Bahamas as Nominee Trust Companies. These companies, acting individually or
together, are nominees for The Winterbotham Trust Company Limited in its capacity as trustee
and/or custodian. WND Limited and WNS Limited have been approved by the Central Bank
of The Bahamas as Financial and Corporate Services providers and are regulated by the
Securities Commission of The Bahamas. Winterbotham Fiduciaria S.A. Administradora de
Fondos de Inversién is duly licensed by the Central Bank o: Uruguay as a professional Trust
oo and is a wholly-owned subsidiary of The Winterbotham Trust Company (Umiguay)

The registered office of the Company is Winterbotham Place, Marlborough and Queen Streets,
Nassau, Bahamas. ,

The average number of employees for the year is 69 (2007: 64). ©

ADOPTION OF NEW INTERNATIONAL FINANCIAL REPORTING STANDARDS
(IFRSs) AND INTERNATIONAL ACCOUNTING STANDARDS (IASs)

In the Current year, the Company has adopted IFRS 7 Financial Instruments: Disclosures which
is effective for annual reporting periods beginning on or after January 1, 2007, and the
consequential amendments to JAS | Presentation of Financial Statements, The impact of the
adoption of IFRS 7 and the changes to JAS | has been to expand the disclosures provided in

the consolidated balance sheet regarding the Company’s financial instruments and
management of capital. :

At the date of authorization of the consolidated balance sheet, the IASB has issued IFRIC
; 5 FRIC 12-
14, IAS 1 (revised), IAS 23 and 27 and IFRS 2, 3 and 8, which are not yet effective,

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of preparation - The consolidated balance sheet has been prepared in accordance
with International Financial Reporting Standards (IFRS) and_ their interpretations
adopted by the. International Accounting Standards Board (IASB) and includes the
Company and its subsidiaries in which it directly or indirectly, has a controlling interest
through ownership interests or agrecments. The consolidated balance sheet has been
prepared under the historical cost convention, and modified by any revaluation of asse.s
and liabilities at fair value through the statement of changes in equity according to the
policies for the relevant arcas. .

The preparation of the consolidated balance sheet in conformity with IFRS requires the
use of certain critical accounting estimates. It also requires management to exercise its
judgment in the process of applying the Group's accounting policies. The areas
involving a higher degrec of judgment or complexity, or areas where assumptions and
estimates are significant to the consolidated balance sheet are disclosed separately,

The accounting policies set out below have been applied consistently by Group entities.

The Group’s policy is to fully provide for all balances: outstanding for more than 120
days. In addition to the specific provisions for impaired receivables, an additional
general provision is created for potential losses not specifically identified but which
experience indicates may be present in receivables. Therefore, additionally a generic
provision equal to 5% of the remaining receivable balance is created. ’

Loans

Impaired loans refer to loans where there is no longer reasonable assurance of timely
collection of the full amount of principal and interest due to deterioration in the credit
quality of the counterparty. Loans are impaired if the estimated recoverable amount of



values without any deduction for transaction costs, except for the following financial
assets:

(i) loans and receivables and held-to-maturity financial instruments are measured at
amortized cost using the effective interest rate method;

(ii) Investments in equity instruments that do not have a quoted market price in an
active market and whose fair value cannot be reliably measured are measured at
cost.

Afler initial recognition financial liabilities are measured at amortized cost using the
effective interest method, except for financial liabilities at fair value through profit or
loss. Such liabilities, including derivatives that are liabilities, are measured at fair value.
Term deposits maturing after three months of the consolidated balance sheet date are
classified as held-to-maturity financial instruments. They have fixed or determinable
payments and fixed maturity dates, and the Company has the intent and ability to hold
them to matunity.

Loans and other receivables that have fixed and determinable payments that are not
quoted in an active market are classified as loans and receivables and are carried at cost,
which equates to amortized cost, Collateral deposits, deferred revenue and other
liabilities are financjal liabilities, which are carried at cost.

Recognition and derecognition - The Company recognizes/derecognizes a financial

asset when it becomes a party to the contractual provisions of the instrument. The
Company recognizes/derecognizes financial assets purchased or sold on the trade date.

Financial liabilities are derecognized when they are extinguished.

Related parties ~ Related parties include officers and directors who are related through
having authority and responsibility for directing and controlling the activities of the
Company and entities related through common directors and/or shareholders,

CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION
UNCERTAINTY

Certain amounts included in or affecting the Group's consolidated balance sheet and related
disclosure must be estimated, requiring the Group to make assumptions with respect to values
or conditions which cannot be known with certainty at the time the consolidated balance sheet
is prepared. A ‘‘critical accounting estimate’’ is one which is both important to the portrayal
of the Group’s financial condition and results and requires management’s most difficult,
subjective or complex judgments, often as a result of the need to make estimates about the
effect of matters that are inherently uncertain. The Group evaluates such estimates on an
ongoing basis, based upon historical results and experience, consultation with experts, trends
and other methods considered reasonable in the particular circumstances, as well as the
forecasts as to how these might change in the future.

a. Umpairment - The Group has made significant investments in fixed assets, loans
receivable and investments, These assets and investments are tested for impairment
when circumstances indicate there may be a potential impairment, Factors considered
important which could trigger an impairment review include the following: significant
fall in market values; significant underperformance relative to historical or projected
future operating results; significant changes in the use of the assets or the strategy for the
overall business, including asscts that are decided to be phased out or replaced and assets
that are damaged or taken out of usc, significant negative industry or economic trends;
and significant cost overruns in the development of assets.



‘THE TRIBUNE

Estimating recoverable amounts of assets must in part be based on management
evaluations, including estimates of future performance, revenue generating capacity of
the assets, assumptions of the future market conditions and the success in marketing of
new products and services. Changes in circumstances and in management's evaluations
and assumptions may give rise to impairment losses in the relevant periods.

b. Depreciation and amortization - Depreciation and amortization is based on management

estimates of the future useful life of fixed assets. Estimates may change duc to
technological developments, competition, changes in market conditions and other factors
and may result in changes in the estimated useful life and in the amortization or
depreciation charges. The Group reviews the future useful life of fixed asscts
periodically taking into consideration the factors mentioned above and all other
important factors. Estimated useful life for similar types of assets may vary between
different entities in the Grvup due to local factors such as growth rate, maturity of the
market, history and expectations for replacements or transfer of assets, climate cic. In
case of significant changes in the estimated useful lives, depreciation and amortization
charges are adjusted prospectively.

c. Legal proceedings, claims and regulatory discussions - The Group is subject to various

legal proceedings, claims and regulatory discussions, the outcomes of which are subject

y to significant uncertainty. The Group evaluates, among other factors, the degree of
probability of an unfavorable outcome and the ability to make a reasonable estimate of
the amount of loss. Unanticipated events or changes in these factors may require the
Group to increase or decrease the amount the Group has accrued for any matter or accruc
for a matter that has not been previously accrued because it was not considered probable
or a reasonable estimate could not be made.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise the following:

2008 2007
Average Average
Balance Rate Balance Rate
’ Cash on hand $ = 18,527 $ 22,060
Short term deposits : 211,697 393,389
Overnight placements : ~ 200,000 3.27% — 2,704,023 3.25%
Call accounts 4,600,954 , 2,232,910
Shares in investment funds: .
AIM s/t Invest. Co. Global US (Inst'l) - 14,192 5.20%
Dreyfus Universal Liquidity Fund - 100,090 5.15%
HSBC Liquidity Fund yee 1,000,000 3.40% -
Citi Institutional Liquid Reserves, Inc. 1,914,329 4.23% -
UBS (LUX) Money Market 1,000,000 1.87% :
$ 8,945,507 » $5,466,574
Nt,
6. ACCOUNTS RECEIVABLE - NET
2008 2007

$ 606,428 $_ 673,347

Accounts receivable
Allowance for doubtful accounts:

Balance, beginning of period | (82,140) (98,434)
Provision for the period _ (276,436) (215,072)
Write back of provision 265,908 231,366
Balance, end of period (92,668) (82,140)
Accounts receivable, net - $_513,760 $ 591,207

'

7. PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets are ‘Comprised of the following:

2008 2007

Shelf companies available for sale _$ 16401 $ 7,828
Advances to suppliers * 64,954 48,610
Accounts with related entities 606,173 201,525
Deferred expenses . 150,250 148,144 |
Loans to staff 274,956 251,985
Other 98,308 58,403
‘ $ 1,211,042 $ 716,495

» 8, SECURED LOANS”: °°

These are specific loans fully guaranteed by cash collateral held on account. It is not part of
the Company’s regular activity to grant loans, but it may do so on a case by case basis,
requiring full cash collateral in every case. As of June 30, 2008 one loan remained

_ outstaliding:
2008 2007 2008 2007
Principal Rate
Loan#1 ~ $ 54v,000 $ 540,000 3.60% 3.60%
Loan # 2 - 694,000 - Libor 90d + 3%
$_ 540,000 $1,234,060
INVESTMENTS

Investments at fair value are as follows:

2008 2007
FVTPL
Other investments $ 737,533 $ 610,466
’ Securities and shares 361,365 272,016
The Bahamas International Securities Exchange (BISX) 5,557 _ 5,557

$1,104,455 $ 888,039
Available-for-sale «

Gold : : : $ 244,538 $ 244,538
Silver - 361,548
Investments revaluation reserve : 350,571 562,695

$595,109 $ 1,168,781)
Total : $ 1,699,564 $2,056,820

>

10. FIXED ASSETS - NET

11.

Fixed assets consist of the following:

2008
Beginning : Ending
Balance _ Additions Disposals Balance
. COST: :
Land $1,032,966 $ - $407,029 $ 625,937
Housing property "1,445,325 12,430 22,725 ‘1,435,030
Office building improvements 1,107,928 48,734 29,235 1,127,427
Vehicles 339,283 , 119,752 47,803 411,232
Software . 320,669 "36,360 - 357,029
Office equipment 922,168 187,359 9,993 1,099,534
Office furniture and fittings 504,807 57,761 5,394 557,174
$5,673,146 $ 462,396 $522,179 $5,613,363
2008
“Beginning Ending
Balance Depreciation Disposals Balance
ACCUMULATED
DEPRECIATION: «
Housing property ‘ $ 99,067 $ 30,269 $ 3,066 $ 126,270
Office building improvements 326,425 88,270 29,235 385,460
Vehicles ; 178,875 85,003 47,743 216,135
Software ; 236,483 54,041 - 290,524
Office equipment 711,146 » 128,672 10,089 . 824,729

Office furniture and fittings 312,668 | 56,152 3,243 365,577

$1,864,664 $ 442,407 $ 93,376 $2,213,695

2008 Net Movement $3,808,482 $ 19,989 $428,803 $3,399,668
2007 Net Movement ot $3,689,170 $ 153,829 $34,517 $3,808,482

CALL ACCOUNT?

Call accounts repr..:_::" ‘ue total on-balance sheet amounts held by clients in the Company's
Call Accounts, Funds in excess of $ 10,000 in such accounts are placed out on a fiduciary
basis for the account and risk of the account holder(s). The balance in this consolidated
balance shect represents the first $ 10,000 held in each account plus the total balance held in
the accounts thai secure the loans indicated in Note 8.

OCTOBER 29, 2008, PAGE 7

12. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

; 2008 2007

Accounts payable $ 268,013 $ 234,144
Provision for staff benefits and training expenses : $28,752 514,836
Provisions - other : . 281,586 224,908
Commissions payable 124,425 119,696
‘Taxes payable (advance) 19,420 3,044
Accounts with related entities 4,466 29,128
Social security = 24,588 ___ 12,071

$1,551,250 $1,137,827

‘13. ADVANCES FROM CLIENTS AND FEES RECEIVED IN ADVANCE

Advances from clients include credit balances corresponding to clients who have made
advance payments on account. Fecs received in advance includes the portion of annual client
fecs which have been collected in the year ended June 30, 2008, and relate to periods
subsequent to the balance sheet date.

14. BALANCES WITH RELATED PARTIES

Related parties include officers, directors, shareholders and other companies with common
ownership. Where ‘hese related parties have the authority and responsibility for directing and
controling the authorities of other companies (established to participate in the Company’s
business activii’s) these entities are also regarded as related parties in the consolidated balance

sheet. Entities administered by the Company on behalf of customers where the Company also
provides directors are not considered related parties.

Balances with related parties:

2008 2007
Prepaid expenses and other assets $ 60€,173 $ 201,525
Loans to key management personnel $ 122,059 $ 143,453
Accounts payable and accrucd liabilities $ 4,466 $ 29,128

15. INCOME TAX

Companies subject to Corporate Income Tax are The Win

I ¢ terbotham Trust Company (Urug
S.A and its subsidiary Winterbotham Fiduciaria S.A. Adr oitea

ministradora de Fondos de Inversion,

Deferred tax assets and liabilitics

The deferred ax stated corresponds to differences between book and tax values of fixed assets
originated mainly by differences of valuation and depreciation criteria; ,

‘The deferred tax is the tax expected to be pai

d or recovered based on the differences existi
between the book value of an asset or liability, ae

and their tax value.

Assets for deferred tax as at June 30, 2008, rise from applying the tax rate in force at that

moment (25%) on the temporary taxable differences of US$ 131,493, which correspond
mainly to the different valuation criteria and fixed assets depreciation criteria.

Assets for deferred tax are recognized as long as the Company has fiscal earings against

which to use the deductible temporary differences. Liabilities for deferred tax are normally
recognized for all the temporary taxable differences.

Assets and liabilities for deferred tax are offset when relat
same tax authority and the Com
net basis.

et 1 ed to income taxes levied by the
pany sceks to liquidate its assets and liabilities current tax on a

As of June 30, 2008 deferred tax assets and liabilities are attributable to the following:

Assets Liabilities
2008 2007 2008 2007

Temporary differences arising from differences in
fixed assets valuation and depreciation criteria § 3,372 $ 20,946 §$





. . . s -
Temporary differences associated with
investments in subsidiaries 48,522 13,398 - -
Temporary differences for unused tax losses 18,563 12,751
$70,457 $° 47,095 ¢ - $ :
op Franest a ‘a oats Math 4iOLocils
16. FIDUCIARY OPERATIONS: div) yin ood

17.

syA nite fo atte q

At June 30, 2008, The Winterbotham Merchant Bank, a division of The Winterbotham Trust
Company Limited had entered into fiduciary agreements for an aggregate amount of
$621 ,407,042 (2007: $645,625,960). The clients bear all risk and responsibility for activities
carried out by the Company on their behalf under these contracts. The depositors agree to
indemnify and hold harmless The Winterbotham Trust Company Limited, its directors,
employees, agents and representatives ugainst all liability, losses or damages arising out of or
in connection with the fiduciary agreement. ‘The major portion of the fiduciary transactions
comprises funds received by The Winterbotham Trust Company Limited from corporate or
individual depositors which are subsequently lent to corporate or individual borrowers or
deposited with banks in money market accounts or similar, or in institutional liquidity funds.

FINANCIAL INSTRUMENTS

Details of the significant accounting policies and methods adopted, including the criteria for
recognition and the basis of measurement in respect of each class of financial asset, financial
liability and equity instrument are disclosed in Note 3 to the consolidated balance sheet.

The following table analyses the carrying amou °'s of financial assets and financial liabilities as
defined by 1AS 39 Financial Instruments: Reco, vition and Measurement:

2008
Loans and = Available. + Amortized
FVTPL receivables __ for sale cost Total
FINANCIAL ASSETS
; ; .
Cash and cash equivalents $ - § : - $8,945,507 s 8,945,507
- 99,564
Investments $1,104,455 $ - $ $95,109 § $ 1,699,56
Secured loans $ - § 540,000 $ - § ~ . § 540,000
Accounts receivables $ - $513,760 $ $ cee $513,760
Prepaid expenses and other asscts $ - $274,956 $ - $§ 936,086 $1,211,042
Security deposits $ - § - $ - $ 285,947 $285,947
Deferred tax assets $ - $ - $ - $ 70,487 $ 70,457
FINANCIAL LIABILITIES
Call accounts $ - $ - §$ = $4,130,308 - $4,130,308
Accounts payable and accrued liabilities $ - §$ ~ §$ - $1,551,280 $1,551,250
Dividends payable $ - § - § - $1,630,000 $1,630,000
Advances from clients $ — § - § - $ 299,240 $ 299,240
Fees received in advance $ $ - $ - §$_A79 888 $F A79 888
2007
Loans and = Available | “Amortized
FVTPL receivables _for sale cost Total
FINANCIAL ASSETS
Cash and cash equivalents $ - §$ - §$ = $5,466,874 $5,466,574
nen Ss1o4so $= Staaoasd $__- $2,056,820
: 234,000
Secured Joans $ $ 1,234,000 $ - §$ $1,234,000
7 §91,2
Accounts receivables $ $__ 591,207 $ - $ $ 591,207
£405
Prepaid expenses and other assets $ $ 251,985 $ - $ 464,510 $716,495
Security deposits $ $ - § - $ 205490 $ 205,490
095
Deferred tax assets $ $ - $ . > $ 47,095 $47,095
FINANCIAL LIABILITIES
Call accounts $ - $ - § - $4,147,958 $4,147,958
: 37,82 37,827
Accounts payable and accruct liabilities $ $ - $ $1,137,827 $1,137,8
Dividends payable $ Ss --$_ $_850,000 $_850,000
: 2, 352.114
Advances from clients $ a) - $ $3524 $3524
- $ 447,642 $447,642
Kees received in advance $ $ - S$ $447,642 $

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PAGE 8, OCTOBER 29, 2008 . | THE TRIBUNE

T8c: Bia Is MEnAS EEN d, Foreign exchange risk - is the risk of loss resulting from foreign currency translation,
: LG . . Currency risk is managed by matching liabilitics with assets within the same currency
The Company engages in transactions that expose it to market risk in the normal course of wieneut er ag ) B
business. These market risks include interest rate risk, credit risk and liquidity risk. The
Company's financial performance is dependent on its ability to understand and effectively
manage these risks.











a Market risk ~ Market risk is the risk that the value will fluctuate as a result of changes
in market prices. 2008
GBP CAD EURO US$
b. Interest rate risk - The Company is exposed to interest rate risk on deposits and call Equivalent Equivalent Equivalent Equivalent
accounts. The Company manages this risk by retaining a level of assets and liabilities ;
with similar principal values, iaterest rates and maturity dates Assets $608,249 Sb 115,450 $2,195,886 $ 10,346,693
Liabilities 446,587. 15,353 71,570 6,919,221 :
June.30, June 30 ,
, ’ Coverage (exposure $ 161,662 $ 100,097 $ 1,484,316 $ 3,427,472
2008 2007 Beanpot a ee oe
US$ US$ /
ASSETS:
, ; 2007
Cash and cash equivalents 4.00% 4.90%
ones = a GBP CAD EURO US$
Investments 0.00% 0.00% ‘ Equivalent Equivalent_. Equivalent Equivalent
Secured loans ‘ 5.60% 5.90% Assets $ 657,864 $ 60,974 $ 1,296,755 $ 8,302,088
; Liabilities 365,540 20,393 283,856 6,265,752
Prepaid expenses and other assets 5.00% 6.00% 7
Coverage (exposure) $ , 292,324 $ 40,581° $ 1,012,899 $ 2,036,336
Security deposits 0.00% 0.00% wee ee ee
Deferred tax assets 0.00% 0.00%
LIABILITIES:
e, Fair value of financial assets and liabilities - The fair value is the amount for which an
Call accounts 0.00% 0.00% asset could be exchanged, or a liability settled, between knowledgeable, willing parties
Pays in an arm’s length transaction. Underlying the definition of fair. value is the
Accounts payable and accrued liabilities 0.00% 0.00% presumption that the Company is a going concern without any intention or need to
Dividends payable 0.00% 0.00% liquidate, curtail inaterially the scale of its operations or undertake a transaction on
Spay — — adverse terms.
Advances from clients 0.00% 0.00% 7
os In the opinion of management, the estimated fair value of financial assets ai.d financial
Fees received in advance 0.00% 0.00% ° liabilities (accounts receivable, investments available for sale, bank balances, secured
; loans, prepaid expenses and other assets, accounts payable and accrued liabilities and
: . call accounts) at the balance sheet date were not materially different from their carrying
° value due to their short term nature.
Cc. Credit risk - The Company is expoved to credit risk in respect of losses that would have
to be recognized if counterparties fail to perform as contracted. 19. COMPARATIVE FIGURES

The Company’s exposure to credit risk is primarily in respect of accounts receivable,
bank balances, deposits, secured loans and prepaid expenses and other assets. As at the
balance sheet date, the Company’s maximum exposure to. credit risk is equal to the
carrying amount of the above assets disclosed in the consolidated balance sheet. The
loans are adequately secured by pledges of assets managed by the Company on behalf of
the borrowers.

Certain prior year figures have been reclassified to conform to the current year presentation. In
the prior year, “Winterbotham Group accounts” and “Third party accounts” (in Note 7) were
separate line items, in the current year they were combined and the name of the account was
changed to “Accounts with related entities’. In Note 12 the name of the account
“Winterbotham Group accounts” was changed to “Accounts with related entities”.

\ 2008 2007
CASH AND CASH EQUIVALENTS:

Neither past due or impaired $8,945,507 $5,466,574 ‘



INVESTMENTS:

s °
Neither-past due or impaired . $1,699,564 $2,056,820 Deloitte ‘

Deloitte & Touche
Chartered Accountants





SECURED LOANS: ' = a ae ,
Neither past due or impaired , $540,000 $1,234,000 Natisin Bohaaae
ACCOUNTS RECEIVABLE: . Fox} (24a) 322-3101
Neither past due or impaired $384,582 $496,438 ee en mnie
Past due not impaired $_ 129178 $94,769 .
Past due and impaired $92,668 $82,140



PREPAID AND OTHER ASSETS:

Neither past due or impaired ; $1.211.042 $ 716,495

SECURITY DEPOSITS:
Neither past due or impaired $285,947 $205,490 INDEPENDENT AUDITORS’ REPORT



>

DEFERRED TAX ASSETS:
To the Shareholders and Directors of

Neither past due or impaired $70,457 $47,095 The Winterbotham Trust Company Limited:
Liquidity risk - Liquidity risk arises when the Company has to meet its obligations on We have audited the consolidated balance sheet of The Winterbotham Trust Company Limited (the
borrowed funds and deposits. The Co npany manages its liquidity risk by matching as “Company”) as at June 30, 2008. This consolidated balance sheet is. the responsibility of the
‘. far as possible liabilities with assets of similar maturity periods. Company’s management. Our responsibility is to express an opinion on this consolidated balance
Bskeies 20 RVBDMS. ath Rees thkea 4 sheet based on our audit. ;
Assets and liabilities are due to mature based on the period remaining to maturity fron We conducted our audit in accordance with International Standards on Auditing. Those Standards
the balance sheet date, as follows: require that we plan and perform the audit to obtain reasonable assurance about whether the
consolidated balance sheet is free of material misstatement. An audit includes examining, on a test
June 30, 2008 basis, evidence supporting the amounts and disclosures in the consolidated balance sheet. An audit ’
Up te 3 3-6 Over 6 also includes assessing the accounting principles used and significant estimates made by
months months months Total management, as well as evaluating the overall presentation of the consolidated balance sheet. We
ASSETS: believe that our audit provides a reasonable basis for our opinion.
Cash and cash equivalents > 8,945,507 § - $ - $ 8,945,507 - . : : : : .
Investments : 962.031 . . 737,533 1,699,564 . In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
Secured loans . 540.000 - 540,000 position of the Company as at June 30, 2008, in- accordance with International Financial Reporting
Accounts receivable 513,769 : : 513,760 Standards.
Prepaid expenses and other assets 20,622 95. 798 233,712 1,211,042 y ae se : ; : '
ne jets 185,947 - - 285,947 Without qualifying our opinion, we emphasize that the consolidated balance sheet does not comprise
Doha asactels . 70,457 a complete set of financial statements in accordance with International Financial Reporting
: OO oo Standards. Information on results of operations, cash.flows and changes in equity is necessary to

$13,266,277 obtain a complete understanding of the financial position, performance and changes in financial

position of the Company.



$10, /27,867 $1,496,708







LIABILITIES:
Call accounts : $ 4,130,308 $ - §$ - $ 4,130,308
Accounts payable and accrued liabilities 1,551,250 - - 1,551,250
Dividends payable 1,630,000 - - 1,630,000
Advances from clients - - 299,240 299,240
Fees received in advance Sie - __ 479,888 479,888
$ 7,311,558 $ - $779,128 $ 8,090,086 ; p : U Te.
ee to te £ “lon Le
‘June 30, 2007 /
Up to 3 2 over 6 , September 19, 2008
months months months Total :
ASSETS:
Cash and cash equivalents, $ 5,466,574 $ - $ - $ 5,466,574
~ Investments : 1,446,354 - 616,466 2,056,820
Secured loans - 1,734,000 - 1,234,000
Accounts receivable « 591,207 - - 591,207
Prepaid expenses and other assets 18,899 483,409 214,187 716,495
Security deposits 205,490 - 205,490
Deferred tax assets 7,095 7,095 . A cieriber finn ot

Deloitte Touche Tohmatsu
$ 7,728,524 $1,717,409 $ 871,748 $10,317,681

« LIABILITIES:

Call accounts $ 4,147,958 $ - $ - $ 4,147,958
Accounts payable and accrued liabilities 1,137,827 - - 1,137,827
Dividends payable 850,000 - - (850,000
Advances from clients ; - - 352,114 352,114
Fees received in advance ee AAT 642 447,642

$ 6,135,785 $e $ 799,756 $ 6,935,541

To advertise ALL your

LEGAL NOTICES,

call The Tribune’s

Sales Department
502-2394

Ses eee es





THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 9B





§ By JENNIFER LOVEN
AP White House Correspondent



WASHINGTON (AP) — An impa-

tient White House served notice Tues-
day on banks and other financial com-
‘panies receiving billions of dollars in
federal help to quit hoarding the mon-
ey and start making more loans.
_ “We're trying to do is get banks to
do what they are supposed to do; which
‘is support the system that we have in
‘America. And banks exist to lend mon-
ey,” White House press secretary Dana
Perino said.

Though there are limits on how
much Washington can pressure banks,
she noted that banks are regulated by
the federal government.

: “They will be watching very closely,
‘and they’re working with the banks,”
ishe said.

She said that Anthony Ryan, Trea-
‘sury’s acting undersecretary for domes-
tic finance, delivered a speech in New
York on Tuesday that made this point.

hite House to ban

WHITE HOUSE Press Secretary Dana Perino responds to a reporter’s question during




her daily briefing yesterday at the White House in Washington...

Ryan spoke to the annual meeting of
the Securities Industry and Financial
Markets Association, a group of Wall
Street executives.

“The way that banks make money is

by lending money. And so, they have,

every incentive to move forward and
start using this money,” Perino said.

There has been some evidence of
loosening lending, Perino said. But it’s
not enough to calm stock markets or
help small businesses that depend on a
free flow of credit, not just to expand
but to maintain operations through
making payroll or financing invento-
ries.

Ron Edmonds/AP

Under the authority of the $700 bil-
lion financial bailout plan approved by
Congress and signed by President Bush
earlier this month, the. Bush adminis-
tration plans to dole out $250 billion to
banks in return for partial ownership.

The Treasury Department, which is
overseeing the massive capital injec-
tion programme along with the rest of
the bailout, will pour $125 billion into
nine of the country’s largest banks this
week. Another $125 billion will go to
other banks.

Treasury Secretary Henry Paulson
has said the money would be used by
banks to rebuild their reserves so that
they would resume more normal lend-
ing practices — a crucial ingredient to
breaking through a debilitating credit
clog that is hurting the national econ-
omy and threatens to bring about a
deep recession.

’ More recently, though, Paulson said
the money could be used by banks to
buy other banks to make them both
stronger to weather the financial

ks: Start lending money

storms.

On Friday, PNC Financial Services
Group Inc. said it had received $7.7
billion in cash through selling stock to
the government under the bailout pro-
gramme. PNC then said it planned to
buy National City Corp. for $5.58 bil-
lion.

The rescue programme is just one
of the efforts the government is making
to combat the worst financial crisis to
hit the country since the 1930s.

The Federal Reserve began a -pro-
gramme Monday to purchase the
short-term debt of businesses, known
as commercial paper. This market has
been frozen since the collapse of _
Lehman Brothers spooked credit mar-
kets last month.

But so far, the efforts to battle the
severe credit squeeze have shown little

‘in the way of results. Libor, the London

Interbank Offered Rate, a key goal- .
post for international lending, edged
down only marginally on Monday and
still remains at elevated levels.



@ By MATTI HUUHTANEN
Associated Press ‘Writer

: HELSINKI, Finland (AP) —
‘Icelandic Prime Minister Geir
‘Haarde said Tuesday his coun-
itry needs about $6 billion in
loans to recover from the finan-
icial meltdown, just as the coun-
itry’s central bank separately
hiked its interest rates by a mas-
sive six percentage points.
Haarde told The Associated
‘Press that Iceland — whose

‘banking sector collapsed under

ithe weight of the credit crunch
fin October — will need $4 bil-

ion in addition to the $2 bil-
oe loan package announced
by the International Monetary
‘Fund.

+ “It’s not a precise number,
it’s not a scientific number but
we are looking in that neigh-
{ ourhood,” Haarde said. “We
fare talking about six (billion
idollars) altogether."

| Haarde would not say how

much of the additional loans he
hoped to receive from the oth-
er Nordic countries — Sweden,
Finland, Norway and Denmark.

“IT don’t want to mention the ©

figures because I do not want to
put pressure on them,” Haarde
said, on the sidelines of a
Nordic Council meeting in Fin-
land.

The comments came just as
Iceland’s central bank
announced it hiked its interest
rates‘by a stunning six percent-
age points to help the currency.
That is a remarkable policy U-
turn after it slashed its interest
rates by 3.5 percentage points
just two weeks ago.

After the financial sector fell
apart, bringing the currency
down with it, the government
and central bank have been try-
ing to protect the wider econo-
my from the fallout.

Last week, Iceland reached
a tentative agreement with the
IMF for a $2 billion loan over

©



PAT STRACHAN
Really Sales

- EXCLUSIVE LISTING

Multi - Family Site off West Bay -
Street near to Lyford Cay and
Albany Development 14,559 SQ. FT. -

Asking $195,000.00
Call Pat Strachan



‘Tel: 323-1983
or 424-8028



Legal Notice
NOTICE

ELANCE S

my,

—
SEEN

as of October 27, 2008.

RESRee NS ey aes aa

Liquidator.

SEE

CAMELLIA UNITED S.A.
In Voluntary Liquidation





Notice is hereby given that in accordance with Section
138 (4) of the International Business Companies Act,

2000, CAMELLIA UNITED S.A. is in dissolution

International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is the

LIQUIDATOR

‘Leader: Iceland needs
Tesh to recover

two years. Haarde said he came
to Helsinki to seek more assis-
tance.

The prime ministers of the
other Nordic countries pledged
to help the small North Atlantic
island nation, but stopped short
of announcing an aid package.
Instead, they appointed a com-
mittee to study Iceland's woes
before making any decision.

“We will wait to see how the
IMF package is finalized before
making any decisions,” Swedish
Prime Minister Fredrik Rein-
feldt said.

Iceland has already called on
a swap facility, drawing $256
million each from the Norwe-
gian and Danish central banks,
but has not used the total of
$636 million from each. A sim-
ilar deal with Sweden’s central
bank has also been offered.

The country’s central bank is
facing considerable losses after
the bankruptcy of the three
main banks — Glitnir, Lands-





banki and Kaupthing.

The banks’ foreign debts
amount to over $60 billion,
dwarfing the country’s gross

domestic product of $14 billion. .

Danish Prime Minister
Anders Fogh Rasmussen said
his government was willing to
help more but that all decisions
would have to be made by Den-
mark’s central bank.

“Of course, we want to be of
assistance to our Icelandic
friends, but the central bank is
a free agent and independent
of the government,” Fogh Ras-
mussen said. “They will make
the decisions, net the govern-
ment.”

The prime ministers’ com-
ments came during three days
of meetings between Nordic
government ministers and law-
makers in conjunction with the
60th session. of the Nordic
Council, which promotes gov-
ernmental and parliamentary
ties between the five countries.

RN
Wyo)

Action #:
2003/CLE/gen/01974

‘Judgment Creditor:
Premier Importers Limited

Judgment Debtor:
Alexander Smith
1999 Ford F150 Lariat |

Action #:
2006/CLE/gen/00770

Judgment Creditor:
Premier Importers Limited

’ Judgment Debtor:
_ Beverley E. Lewis
2001 Ford Explorer Sports Trac

Vehicles can be viewed from 7:30am
to 4:30pm at Premier Importers,
St Albans Drive.

Bids. must be in writing on or
before November 16th, 2008.
Contact 322-8396 @ extn. 232
for any additional information.








‘COMMONWEALTH OF THE BAHAMAS. :
IN THE SUPREME COURT = 2007/CLE/gen/00894
Common Law & Equity Division . pity






BETWEEN .

SUISSE SECURITY BANK & TRUST LTD.

(In Liquidation) Plaintiff
AND

MOHAMED HARAJCHI









First Defendant
MICHEL HARAJCHI j Bed
Second Defendant
. SONJA HARAJCHI ‘ en:
/ Third Defendant:
CHRISTOPHER. LUNN 5 j
; Bethe Fourth Defendant -
DEREK RYAN
Fifth Defendant



IN CHAMBERS
BEFORE THE HONOURABLE MR. JUSTICE
STEPHEN ISAACS :
THE 24" DAY OF OCTOBER, A.D. 2008 ©





ORDER

UPON EX PARTE SUMMONS dated the 22"
day of October, A.D. 2008 and filed herein on the 23% day o
October, A.D. 2008 coming on for hearing this day ae




UPON HEARING Anthony A. McKinney, Esq: on
behalf of the above-named Plaintiff




AND UPON READING the Affidavit of KERI
DAVIDE SHERMAN sworn to on the 22" day of October,
A.D. 2008 and filed herein on the 23" day of October, A.D.
2008 and the exhibits thereunto annexed and the draft minute
of the order sought.







AND UPON the Plaintiff by its Counsel




(1) to abide by any Order that this Court may
make as to damages in case the Court shall hereafter be of the
opinion that the First Defendant shall have sustained by reason
of this Order which the Plaintiff ought to pay

(2) to inform the First Defendant forthwith of
the terms of this Order by inserting an advertisement of such
Order, Ex Parte Summons, Affidavit of Keri Davidé Sherman
as sworn and the exhibits thereto annexed in the Tnbune
newspaper. :







IT IS ORDERED that that the First Defendant
~ MOHAMED HARAJCHI and be restrained, whether by
himself or by his servants or agents or otherwise by injunction
until judgment in this action or further order from doing the
following act that is to say disposing of, conveying selling
transferrmg mortgaging encumbering or otherwise dealing
with all those real properties owned by the First Defendant
situate on Paradise Island, New Providence, The Bahamas ©

comprising the following, viz.
t) ALL “THOSE (2) parcels or lots of land
situate on the Southern Coast of Paradise
Island one of the Island of the Commonwealth of
the Bahamas being Lot (7) & Lot (8) in the
Block (2) on the Plan on the Subdivision called
and known as “Paradise Island Colony”.

(2 ALL THAT condominium Unit (5)
“Cloister Estates” a Condominium ,

_ according to and as more particularly described in
the Declaration which condominium is: located.
on the Lot (2) an (0) aforesaid together with
Unit entitlement of (38/1000) undivided interest in
common property appurtenant to Unit (5)
and. together with an assignment or arking space
(5) designate in the Declaration as hanite common
Property.

(3) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block 2jof the
Subdivision known as “Paradise Island Colony”
situate on Paradise Island in the City of
Nassau in the Island of New Providence

(4) ‘ALL THAT piece parcel or lot of land
comprising Lot (5) in Block Q2)of the
Subdivision known as “Paradise Island Colony”
situate on Paradise Island in the City of
Nassau in the Island of New Providence

(5) ALL THAT piece parcel or lot of
land comprising Lot (13) in Block @

of the Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the
City of Nassau in the Island of New Providence
AND ALSO ALL THAT piece parcel or lot of
land comprising Lot cF in Block (6) of the
said Subdivision :

BY ORDER OF THE COURT






























REGISTRAR





PENAL NOTICE

TAKE NOTICE that unless you the said
MOHAMED HARAJCHI obey this Order you will be liable
to process of execution for the purpose of compelling you to
obey the same.











THE TRIBUNE WEDNESDAY, OCTOBER 29, 2008, PAGE 10B







My

§ \

Uy

RM BAILEY CLASS OF ‘88

NINIVERSARY BANQUET

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HE RM Bailey High School Class of 1988 cele- ~

brated its 20th anniversary witha grandban-

quet, held'in the Imperial Room at the Atlantis
Resort on Saturday.

The class was entertained by it's very own Geno D,
who thrilled the crowd with hits songs from his albums,
including ‘Drunk Again' and 'Someting' Just Een Right’.
"This was truly a exciting and fun-filled night," said
Andrew Missick, a member of the graduating class.

Currently living in Houston, Texas, Mr Missick said
that he would not have missed the celebratory events for
the world. "It was wonderful too see all the classmates
that showed up. I expected to much, much more, but I
am grateful and proud to be a part of this event. Those
who missed it missed great food, fun and fellowship and
I would have hoped that dur-
ing our 25th anniversary we
would have had more per-
sons attending," he said.

Mr Errol Bodie, co-chair of
the class' planning commit-
tee, said all the planning and
sacrifice had paid off. "This
was a great event and we
look forward to better things
in the future. Like Andrew J
would have loved to see
more persons attend, but the -
ones that attended I am sure

_ this will be a long lasting
memory to cherish for years
tocome. |

"Our thanks goes out to —
Geno D who electrified the
audience and we danced the iar
night away to his songs. Also, °
to the banquet committee who made sure everythin
was in order, Fifika Bain who designed the tickets, Eric
Laramore who pushed the banquet ticket sales and all
those persons who assisted, you know who you are - a
heartfelt thank you for your support and I look forward
to bigger ind better things before we close out this
reunion year, June 20, 2009."

The next event planned for the graduation class is a
Christmas social in December that will close out this
year's activities.





icstade Wisiensdeireiss



+ The RM Bailey Class of 1988 will meet today, and
every Wednesday until the end of the year, at the
school on Robinson Road at 7pm to discuss upcoming
fundraisers. A monetary donation to the school is
scheduled in the future. All classmates wishing to make
a contribution should call 302-2783 for more details.





PAGE 11B, WEDNESDAY, OCTOBER 29, 2008

ENTERTAINMENT

THE TRIBUNE





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SOOT



EMEMBER the wild sequence in Casino’

Royale where James Bond has a fantastic

chase scene with a Ugandan terrorist,
played by French free-running phenom Sébastien
Foucan, that takes place on a busy construction
site and along a harrowing, seemingly mile high

crane?

If you look closely enough
during this sequence you'll see a
pair of legs running across the
screen - fleeing the mayhem
caused by the chase. Those legs
belong to Bahamian-born Jason
Elwood Hanna, a rising star in
the world of stunt work, a prac-
titioner of freerunning - he
recently returned from the
FreeRunning World Champi-
onships held in London where
he reached tie semi finals - and
a student of the art of Capoeira,
an African/Brazilian martial art
disguised as dance.

Developed some four cen-
turics ago by slaves as they were
being forcibly shipped between
the African continent and
Brazil, Capoeira, some believe,
was originally a way for African
’ slaves to defend themselves
against the slave traders and
others who would harm ‘them,
but they disguised the practice
as a dance.

It is this art form that Jason,
along with his Mestre - that is
teacher - Eclilson de Jesus, will
bring to the Bahamas during a
week long seminar beginning
November 15 -19 at the Hub,
Ray Street.

which spread across Brazil as
more and more slaves adopted
the art form, capoeira has grown
into a unique cultural movement
that reflects its diverse origins.
Instruments like maracas and
drums, and the African berim-
baus, which is similar to an
archer's bow and uses a steel
string and a gourd for reso-
nance, are played while per-
formers begin their rhythmic
dance, sometimes with notes
that reflect the Brazilian sam-
ba.
Developed over | time,

capoeira's modern moves have .

turned into a game of sorts - a
dance really between parties,
where both sides use kicks,
throws, acrobatic moves and
generally have fun. "You can
use it for protection, but it's real-
ly meant for fun," Jason said.

_ Hoping to expand the cultural
awareness of Bahamians by pro-
moting this African/Brazilian

practice, Jason will be hosting |

his teacher for the week long
seminar, and he invites all inter-
ested Bahamians, particularly
the youth of the nation, to come
out and learn more about this
interesting movement from



JASON ELWOOD
HANNA is a rising
star in the world of
stunt work, a prac-
titioner of freerun-
ning and a student
of the art of
Capoeira, an
African/Brazilian
martial art dis-

From a symbol of empower- Mestre de Jesus. guised as dance.

ment and a form of self defence Jason said he sees the upcom-

SS AAAS N

Dafova takes in the Bahamas

B By CHESTER ROBARDS
Tribune Staff Reporter



A BAHAMIAN society struggling to extract
itself from a narrow world-view and simultane-
ously recapture a culture on the verge of extinc-
tion may want to look to Europe for the formula.

To be exact, look to Sofia, Bulgaria, home of
international recording artist and special repre-
sentative for the United Nations High Commis-

- sioner for Refugees (UNHCR) Dyana Dafova.

Ms Dafova recently spent ten days in Nassau
and Paradise Island absorbing the culture of the
islands and. the music of Junkanoo in hopes of
melding it into her music and returning to perform
for a Bahamian audience at Atlantis.

"T want to meet the local people and talk to the
Jocal people," Ms Dafova said. "It's not just car-
rying a few CDs and listening to the music, I want
to feel the nature of the local people; the way
they think, the way they talk, their sense of
humor, the way they live. Then I have a better
understanding of what I'm doing in the music."

Ms Dafova was born in Sofia where she began
her studies in music and dance at the age of five.
As she matured in her career she began to devel-
op her own style of music, fusing sounds from
cultures around the world and blending the
indigenous dance with a European style, to create
a truly cosmopolitan package.

She even performs her music in 14 different
languages, including the ancient language of San-
skrit, and in beautiful Celtic and American Indi-
an tongues.

She has been received by Senator Hillary Clin-
ton who, Ms Dafova said, has her cd as part of a
private collection. She was also given a personal
blessing from Pope John Paul II for her music.

‘Ms Dafova's husband and manager Mike But-
terfield said she is able to simply listen to sounds’
and rhythm then go to the studio and create a
fusion of music.

"Having listened to some Bahamian music and
island music she would then, when she goes back
to the studio, start composing the song with the
special moments of the music she heard and the
culture she attended," Mr Butterfield said.

"Then that goes into the second phase which is
the concert. She actually does the choreographic
design of the concert and the musical that goes
with the sony and then designs the costume to fit
the musical."

Ms Dafova said she would love to return to
perform for the Bahamian people.

"I hope the people here will like my music and
my show, because I notice that it's a very cos-
mopolitan place and the people are very open to
different nations and cultures."

Ms Dafova considers herself an international
ambassador and has been recognized as such by
the United Nations. Her contemporary music is
considered world music and is an audible and
visual passport to places and cultures.

"Culture," she said, "is the best ambassador,
especially through music."

* To learn more about Dyana Dafova check out
www.dyana-dafova.com ,

Dyana Dafova



Gee
Peer Riga ati
Singin 8 oS
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ing seminar as a way to promote
education, healthy extracurric-

‘ular activities and to underscore

that it is okay to pursue inter-
ests that are outside of the more
popular sports and activities, like
basketball and ballet.

It was while pursuing his own
unique interest in stunt work
that Jason came across the art

‘form. Travelling to Canada for

work he would make friends
there, and through that associa-
tion he began to learn capoeira
and found that he enjoyed it,
and could use it in his stunt
work.

After studying with others,
Jason met Mestre de Jesus, a
Brazilian, in Canada in 2006.
After training with him, Jason
decided to bring him to his home
because he wanted to introduce
capoeira -'something many
Bahamians have never heard of
- to the Bahamas.

According to Jason, they are
already thinking about opening a
capoeira school here next year to
teach the art form.

Apart from capoeira, Jason is
very involved in the world of
stunt work. Beyond the "small"
part in Casino Royale, he has
also worked on ‘Luminous! - a
Canadian television show, and
is expected to begin shooting for
‘Way of the Warrior’, also a
Canadian film, in March.

* The Capoeira classes will
be held November 15 - 19, at
Hub, which is open Monday
to Friday, from 10am-6pm.
Interested persons should
reserve a spot by November
1 because space is limited.
To learn more about the mar-
tial arts/dance form visit
www.achebrasil.com and
kaizenstunts.com. For more
information contact The Hub
at 322.4333 or 535.7773 or
email : :
bahamaspk @gmail.com or
info@thehub bahamas.org,

Saturday, November 1
Come in for exciting year-end





Honda

Accord RHD

On-the-spot financing @
and insurance. a
24-month/24,000-mile
factory warranty.

*Select vehicles.

Sales Showroom, Shirley Street * 328-2285

info@nassaumotor.com ® www.hondabahamas.com

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model closeout deals!

NASSAU MOTOR CO LTD a





THE TRIBUNE






m@ By CHESTER ROBARDS
Tribune Staff Reporter

IF you want to get into the. mind of your child you
can send him or her to a shrink, but a less expensive

and unobtrusive alternative is an art class.

_ Pupils of Sonia Isaacs' art studio are preparing to bare their souls
to the public through their first ever group showing at Anthaya Art

Gallery in Cable Beach next month.

j The group of ten young artisans have been a part of Ms Isaacs'
, weekend art school for about three years and she says they have

' come a long way since then.

"All of the children came to me having never painted before, so
it actually took them three years to be able to do the work and pro-
duce nice pieces," she said. "This is their first showing after three

years of art classes."

Only one of the students participating in the upcoming show has
exhibited before. Deshanda Morely showed off her work beside
her seeded teacher Ms Isaacs, in a two woman show. Deshanda
wowed viewers with her unique style and even sold a few of her

pieces.

Ms Isaacs said she allows her students to choose their subjects

because they need to feel their work.

"You can see the different styles coming out in each child and
styles are popping out on their own. I would show them primitive,
abstract and realism, but each child has a different mechanism and

so the work is different from child to child.

"I keep the classes quite small so that they get individual atten-
tion every single class because they are working on individual pro-

jects, so I need them to find themselves in the work."

One of her exhibitors, Anaard Lunn, was the winner-of the Cen-
tral Bank's art competition last year and his brother Armaand
Lunn received honourable mention for his mosaic pieces.

They, along with Lex Fountain, 10, Dashanda Morely, 17, Dyah
Neilson, 12, Lia Ritchie, 15, Brian Sands, 18, Cydne Coleby, 14,
Kirkwood Deal, 14, and Tamara Cartwright, 17, will have their
work displayed for a week in Anthaya and are hoping to receive

exposure for their talent and to make a bit of money.

"T have. seen an extreme improvement and I would not show
' them if I didn't think they were marketable at this point," Ms

Isaacs said.

Asasescecceaeeneeceeeeseceeseeaseseaes! Leeeeescceeeseeeneeerseeasseeeeeenee sees senses ease eens assess eaene nas eseunseneesnceesnseneesanseeen eee ee

ey ~ + For more information on this show contact 327.1045



FROM page 14

The science of restoration

It may seem that restoring art-
work has a lot to do with art, but
the fact is that art is only a small
portion of her work. Interesting-
ly, art conservation is more of a
science and to understand the
process of recovering a piece you
must be. able to identify the
medium used for the painting
and differentiate between the
chemicals.

“Although artistic ability def-
initely comes in handy and is a
plus it is only a small part of
being a restoration specialist. It is
a highly complicated and spe-
cialized field where it’s more
often your knowledge of chem-
istry that is your lifeline to not
ruining someone’s $500,000 art
piece.

“In restoring paper art you not
only have to determine what
kind of paper the art work was
done on, but you also have to
determine through various chem-

ical’ ‘tests, what kind of damage is,

appéaring on the art and what
kindof ink or paints were used to
créate the image," she said.

A restorer's judgment must be
seqsitive toward the piece since
themain objective is not to alter
it’s, pp¢arance but to make it
look like'an’exact replica of the
original. The addition and sub-
traction of chemicals to the paint-
ing must be as accurate as possi-

‘story to be told

RAs
Oh

ble. “If you make the wrong
determination on any of those
facts then whatever treatment
you choose could totally destroy
the art piece irreversibly.

"Here in the Bahamas we
have mostly two kinds of spotting
that occurs on paper media in
our climate. One is called ‘foxing’
- it’s the brown chickenpox type
spots that paper art gets from
being near products full of acid
(mainly cardboard). Then there
are spots that look very similar
but are more grayish in colour,
that is mold and is something
entirely different. Although to
the naked eye both examples just
look like chicken pox to you, the
treatments for me to cure or min-
imize the effects of those two
scenarios are completely differ-
ent.”

Operating out of a studio °

located in Palmdale, Ms Aitken
admits that working on these
valuable art pieces can some-
times get her adrenaline pump-
ing; if she makes a mistake dur-
ing the restoration process it can-

‘not be reversed, and her clients
valuable piece will be ruined.

Although her job can become
very uneasy at times, she has had
only success over the course of
her career - and she gives all of

-the credit to God. “In all honesty

even though I know what I am
doing, the sentimental pieces
sometimes make me a little ner-
vous because sentimental value

ass
















betore

is priceless, you can’t replace
that. I have a firm belief in God
and in prayer and in return he
has blessed my talents and my
business where so far I have nev-
er had a dissatisfied customer
with my work.”

Being an Aitken (Andrew
Aitken is her brother) has often
caused many people to get the
impression that her job entails
restoring photographs only, but

* the only thing that she actually

does with photographs is to
restore those that are black and
white and that are printed with

PUPILS of
Sonia Isaacs'
art studio are
preparing to
bare their souls
to the public
mthrougheir
- first ever group
* showing at
Anthaya Art
Gallery in
Cable Beach
next month.







the old silver method on leavier
card stock paper. Photo restora
tion is much easier than the
work that she does restoring art
pieces.

In the global market restor-

‘ing artwork can be extremely

expensive, but Ms Aitken has
been very sympathetic to
Bahamian art lovers and has
made the price more affordable.
Despite the fact that her prod-
ucts are exclusively from Cali-
fornia, her prices are far below
the American industry. “I charge
by the square inch of all my

INESDAY, OCTOBER zy, 2008, PAGE 12B



work so no matter who the
clients are the price is always the
same.”

Ms Aitken has been restoring |

art for over 15 years and she is
also an accomplished custom

frame designer, an art consul-
tant, an interior designer and has_ ;

been an art restoration specialist
in both the US and Nassau.

- For more information con-
tact Sharon Aitken at 424- 9901 |

or 325-1771 ext. 3 or by e-mail:
i.fix.art@gmail.com

Mo WN FBO ww

FROM page 14

The young woman says that
in her vision "there is more
green than gray",

The Haitian mother says, “All
children have talent. But some
Haitian parents don't have mon-
ey so they can't send their chil-
dren to school so you can't see
their talent, In my vision I have
money to build them a house so
they have food and clothes and
they can go to school so you can
see their talent”.

The expectant mother hopes
that "people consider the gen-
erations to come in all their
actions”.

Sabrina's eleventh piece is a

collage of individual shots
showing suffering on a back-
ground of the Pine Barrens.
Shots included here are abused
animals, children and nature
that speak to the heart of each
human being, creating a seed of
hope for the future,



* Vision is on exhibit at the
New Providence Community
Centre and will be on display
until the end of October.



PAGE 13B, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE





Family tun to be had at Ardastra

m@ By LISA LAWLOR

WITH summer ended and students settled back
into the hectic routine of school and extra curric-
ula activities, parents may be feeling a tad out of
touch with their youngsters: Yes, you jie spend

a lot of time together in the car as you c

auffeur.

your little ones to and from school and to their
many club meetings and practices, but are you
really spending quality time together, participat-
ing in fun, family-friendly, friendship-building,
communication-enhancing activities?

A trip to Ardastra Gardens,
Zoo and Conservation Centre
may be just the thing to shake
up a monotonous routine and
to bring parents and children
together in an environment of
beauty and natural wonder.

Imagine walking along the
‘ path made for visitors to the
park, and coming across pea-
cocks proudly displaying their
colourful feathers - they are
only shown in breeding season
to attract their female mates.
Imagine how wide eyed and
excited your little one will be
at this glorious display of design
and symmetry. And to show
how hip you are to your older
kids, you can confidently point
out that the peahens - the
female of the species - are
notably less flamboyant,
coloured with only plain brown
feathers, but they are every bit
as lovable’as their bodacious
male counterpart.

Or think about how excited
everyone will be when they see
the flash of patterned fur, the
flicker of a tail and glimpse the
razor sharp teeth from. Sheba
and Sasha - two sister jaguars
who coyly inhabit their spacious
exhibition.

The most notable attraction

at Ardastra however, is the col- *

lection of 44 flamingoes that live
on the grounds, representing
the national bird of the
Bahamas. While there are 21
show flamingoes who perform
three times per day in the
famous flamingo extravaganza,
the rest are kept in the pond
for breeding and to raise the

younger birds until they're also”

ready to be trained.

Two baby flamingoes were
born in June, looking like little
white chicks, and will gain their
colour at about three years old,
_ Phillippa Moss, manager, said.
They get colour from their diet
of mollusks and insects, which
are rich in carotene. In the wild,
flamingoes can live up to 40
years old, and in captivity may
live as long as 50 years.

A man and his dream

While most Bahamians take
the existence of Ardastra Gar-
dens for granted, the reality is
that its place in Bahamian soci-
. ety, as a family friendly nature
retreat where children and
adults ali; 2 could get up close
and personal with wild animals
and unique flora and fauna, was
shaped and constructed by a
man of vision. ,

The legendary Normon



© 25TH ANNUAL
ART COMPETITION

AND EXHIBITION:
The Central Bank
of the Bahamas
will host the grand
- Opening and '
awards presenta-
tion for it's 25th
Annual Art Com-
petition and Exhi-
bition on Wednes-
day, November 5,
at 5:30pm at the
Bank's Art Gallery,















Solomon had a dream that
endangered animals would have

‘a safe haven, and that the

Bahamas' natural flora and fau-
na could be carefully nurtured
for all time. Through Ardastra
Gardens Mr Solomon's goal
was realized, and with the help
of Michael Jimenez, director
and Ms Moss, the tycoon's
dreams will stay alive and well
on his five and a half acre lot.

Mr Solomon wanted to pro-
vide a unique service to
Bahamians, and in Ardastra the
beauty of tropical nature is a
one of a kind experience. At its
purchase in 1982, he took it
from a reserve that concentrat-
ed largely on plants, to a shelter
for endingered animals the
world over.

Ardastra houses some 200,
mostly Bahamian reptiles,
mammals and bird species living
in the gardens. They include
Bahamian animals that are
reducing in numbers because of
ecological changes or over-hunt-
ing, but there are also animals
received from other zoos, those
who have been rehabilitated
back to health by the zookeep-
ers or saved from illegal trans-
portation practices.

Normon Solomon's dream
catered to the youth who he
believed would benefit expo-
nentially from interaction with
beautiful creatures and nature.
He wanted Ardastra to be
accessible for everyone, keeping
admissions prices at a reason-
able rate, giving specials for
school trips. The zoo receives
over 10,000 children per year.

The wonders of the world

In 2001 Ardastra Gardens
became the first park in the
world to breed flamingoes in
captivity, a difficult feat to over-
come as it is well known that
in general, captive animals do
not have the same breeding

_ habits as they would if they

were in their natural habitat.

Mr Jimenez attributed this to
the gardens’ ability to accom-
modate animals in exhibitions
as close to their natural envi-
ronment as possible, as their
breeding grounds are actually
on a pond, and their diet was
changed too. Ardastra contin-
ues to be one of the few parks
which is able to breed flamin-
goes in captivity:

This is also a commendable
feat due to the recent depletion
of flamingo numbers the world
over. There are now an esti-
mated 880,000 flamingoes in

* THE CENTRAL BANK OF
: THE BAHAMAS

°/ cardially invites yaw te
atténd the opening of ite

ANNUAL
ART COMPETITION
j end EXHIBITION

trestlay, November 4th, 200%

Oa
‘Tht Cental Bank of The Bakanas
Art allay
Handorink, Stree
Nasser, The Babamnas,

Ni





A TRIP to Ardastra Gardens, Zoo and Conservation Centre may be just the thing. to shake up a monotonous routine and to bring
parents and children together in an environment of beauty and natural wonder. oy

the world. Before Hurricane
Ike, there were about 65,000 of
the species in Inagua, although
that number should not be
largely affected because their
population didn't take a huge
hit.

In the 1930s and 1940s the
birds were hunted for meat, but
today they are a protected
species under Bahamian law
and are illegal to hunt.

Another popular attraction
at Ardastra is the petting zoo
which features animals such as
goats and sheep, as well as the
option of feeding the red Lory
parrots and feeding the goats.
Ms Moss said this spectrum of
the zoo really fascinates the
children, "inspiring them to stay
for as long as they can, and
sometimes even to become a
sponsor for a specific animal."
This aspect allows the child to
technically own the animal, and
motivates them to visit their
animal very frequently.

POs TO

Last Name:
Company:

Telephone # Home:

Fax #:

Birds that frequent the visi-
tors' shoulders are such friend-
ly characters as Toby, the 35
year old cockatoo, and Sal-
vador, the 17 year old macaw
found next to the gift and snack
shops. -

Other animals found at the

‘gardens range from Cuban
Amazon parrots (a bird closely :

related to the Bahama parrot
— also found at Ardastra), a
Great Horned Owl, rabbits,
roosters, geese, meerkats, tur-
tles, servats (a wild cat species),
Prevost's squirrels from South
East Asia and the Borneo

' Islands, Indian Ring Necked

parakeets, a Trumpeter Horn-
bill from Mozambique, Cara-
cals from Africa, North West
India and the Arabian penin-
sula, plus Bahamian boa con-
strictors who were confiscated
from some reptile enthusiasts
in Andros trying to smuggle
them to the US.

There's also an African

crané, spiny tailed iguanas, ring
tailed limas, curly tailed lizards,
yellow-footed tortoises, white’

crowned pigeons, white fronted :

capuchins (an adorable species

of monkey), Schmidt's guenon ;
(another monkey species with: .

22 distinct vocalizations) and
the black tailed prairie dog -
interestingly one of the 2,000

' species of rodents, not actually

any type of dog.

‘Another species of rodent is
the Capybara — a semi aquatic
animal weighing up to 154
pounds with six inch incisors. °

denen eeeenecegeaeceeeereceenecscseseneesssecencees ede eeeedenees

* The price to see all of
these exquisite animals
ranges from under $10 for
Bahamians and under $20 for
tourists. All children under
four years old enter for no
admission. To find out more
about the Ardastra Gardens,
visit. www. ardastra.com or
phone 323-5806.

First Name:
Title:
Work:
P.0.Box:



Exact Street Address:

Frederick Street.

~ © SONIA ISAACS SCHOOL OF ART:
The students of Sonia Isaacs
School of Art will hold an exhibi-
tion at Anthaya Art Gallery, Cable
Beach, next to City Markets, from
November 15 to November 22.
The opening reception will be held
on Saturday, November 15 from
2pm to 7pm. The gallery's hours

_ are 10am to 6pm Monday through

_ Saturday. For more information
call 327.1045

STUDFENT& Or ,
Teele] O) aad

House #

House Colour:
Requested Start Date:

House Name:
Type of Fence/Wall:



© VISION:

Sabrina Lightbourn presents her new Vision at the Lad-

der.Gallery at NPCC. No matter what your schedule is

let us be the first'on your list.

° AT THE HUB: Ce a
Groh id Nov 4 - The aang volume of the Green Talk se 5 on P x ‘ C Xi °. a aL

series

Oct 23 - Bahamas Human Rights Network Public meet-
ing

Oct 30 - A writer/artist forum





:-




better future

MOVEMENTS for environmental and social con-
cerns are what take up artist Sabrina Lightbourn's
days. With all the crime and violence, and land and sea
degradation that surrounds each human being, she
wants to know - if what you see is what you create, why
does she see "the trees being cut? The coral dying?
Why does my heart cry;when I hear another man shot?
Why can't I just see it...perfect?"

In "Vision", Sabrina's only solo show for the year,
currently being held at the New Providence Community
Centre, the artist took ten profile shots and placed them
on plywood — an unusual backing for photography that
makes reference to the earth's disappearing raw materi-
als, and the human race's connection to the earth and
pines. "It gives the show a feel of something natural,"
Sabrina said, "there is no gloss and no glass to hide
behind."

Her photographs show people across a wide demo-
graphic, including young adults who are off at school, suf-
fering children who live in the ghetto, a Rasta, Haitians,
academics and new mothers.

Sabrina has been practicing art for her whole life, but
really only taking it seriously in the last eight years. She
went to Rockport College in Maine four years ago to
study photography formally and now shoots weddings and
other commercial jobs, as well as having one show per
year. : '
"With these pieces, I wanted to create time for people
to stop and contemplate the world and their vision for it,"
she said. She wanted to put into motion a movement
towards something better. At the end of it all, she said, we
all want the same things — safety and for us all to get
along.

In her portraits, each individual's vision is written
below the piece — satisfying Sabrina's vision of bringing
people together and creating a positive ripple that sets
into motion an effort towards a better place.

"Those with a clear vision are often more successful in
reaching their goals," the artist explained.

These visions vary greatly in
themselves, all look-
ing at a better place
for us to work
towards.

The young black
boy says, "I wish that
all the gangs and
crime would stop in
our country and we'll
have a better place to

would be friends".

An old Rasta man
says he hopes for "bet-
ter understanding
between humans. And
it takes a Godly vision
regardless of religion. If
you are a Muslim, Rasta
or Christian we all have
a god of love. We need
peace. We sing about it,
we preach about it, so
let's act upon it".

SEE page 12









live and everybody ©



Gardens
See page 13





lm By JEFFARAH GIBSON

UNFOLDING the stories
behind worn and tattered
canvases, fading paint, and
damaged paper, is what
Sharon Aitken, owner of
Sharon’s Restorations, aims
to do as'she combines her
knowledge of chemistry and
artistic ability to restore pre-
cious and valuable art
pieces. Through her efforts,
she brings about an accu-
rate narration of the art
piece just as it was when
the story in the painting was
first created.

In her line of work, having advanced artis-
tic talent, has played to Ms Aitken's credit.
Her natural born, genetically coded art abil-
ities have made restoring paintings second
nature. Along with her intrinsic leanings how-
ever, Ms Aitken has studied at a number of

universities which helped mold and enhance
her talent,

SEE page 12







Full Text
MM

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.





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McFl LU JRRY





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volume: 104 No.283

eT oh RRO TA aS SPAS Yer



BAHAMAS EDITION

WEDNESDAY, OCTOBER 29, 2008










Mario Miler aris 8

accused receives bail

One of two brothers
appears before Acting
Justice Elliot Lockhart

® By CHESTER ROBARDS
Tribune Staff Reporter

appear before the courts tomor-
row for his bail hearing.

Ryan had been on bail
throughout hearings into the case,
only appearing with his brother
during court appearances. Then
he was remanded to Her

ONE of two brothers accused
of killing Mario Miller, son of for-
mer Trade Minister Leslie Miller,
in 2002 received bail yesterday in

the amount of $30,000.
Murder accused Ryan Miller
went before Acting Justice Elliot

Majesty’s Prison, being led to
court handcuffed to his brother,

as his bail ended with completion
of the trial. ~
However, Lee has been incar-

SEE page eight

Lockhart for his second bail hear-

ing since being arrested. ;
Ryan’s brother Ricardo Miller,

alias Tamar Lee, is expected to

Former Cabinet minister
speaks on state of the PLP

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

FORMER MP and Pindling-era Cabinet minister George Smith said:

yesterday that the PLP must look “honestly and squarely” at what
needs to be done if it wants to win the 2012 general election.
Speaking with The Tribune yesterday, the former Exuma MP said he

believes the PLP would be the government today if certain members of

the party had not put the leader, Perry Christie, in such a “difficult
position” leading up to the last election.

SEE page eight

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Jitney, taxi
drivers to be
allowed to
raise fares

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

EFFECTIVE from
November 1, Bahamians
can add public transport
to the list of things they
have to pay more for this
year than last.

Several years after jitney and
taxi operators began complain-
ing that it is about time they were
able to increase their fares and
“almost a decade” after jitney dri-
vers were last allowed to do so,
Minister of Works Neko Grant



yesterday announced that
both they and taxi drivers
are to be allowed to raise
their fares.

Mr Grant said that jit-
ney fare increases “will

cents” while taxi-drivers,
who were previously
granted the opportunity
to raise prices in 2001,
will now be able to add
an extra “three to five” dollars
on to their tolls.

In a further reform to the pre-
sent system, six new but as yet
unspecified bus routes will also

SEE page eight

range from 25 to 50 +

Ministry targets improving
quality of visitor experience

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

IMPROVING the quality of visitor experience in |_
the Bahamas is the central thrust of the Ministry of [©
Tourism’s plan to revive the weakened industry,
the country’s tourism chief said yesterday.

And as arrivals ta the country dwindle - tourist
arrivals fell by almost 10 per cent during July,
according to statistics - the Ministry of Tourism is MINISTER OF
now focused on attracting the viable Asian market Tourism Vincent
to fill the industry’s thousands of vacant rooms. —_ Vanderpool-Wallace

Minister Vincent Vanderpool-Wallace, who spoke
with The Tribune briefly while attending the Florida-Caribbean Cruise
Association meeting in Trinidad yesterday, said his ministry was work-















THIS GAPING ditch on Bay Street was an eyesore for tourists and a
headache for motorists yesterday, when it created long lines of traffic. No
one seemed sure why the hole was there, but some criticised authorities
for doing nothing to rectify the problem, other than placing a traffic cone
next to the obstruction.

Bahamians are ‘scaling
back’ on overseas travel









@ By TANEKA local travel agency reports.
THOMPSON Ernestine Sherman, general
Tribune Staff Reporter manager of the Destinations chain,

said there has been a decline in
bookings for the holiday months.
She noted that traditionally around
this time families took advantage
of school mid-terms to book vaca-

SEE page eight

tthompson@tribunemedia.net

AS THE economic situation
continues lo worsen for those
employed in the tourism and con-
struction industries, Bahamians are
scaling back on leisure getaways
outside of the country, at least one



\ British
*’ American





SEE page eight

First moves towards stadium
construction set to start Monday

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

A YEAR after it was initially
expected to be completed, the
government has advised China
to begin shipping their heavy
construction equipment to, the
Bahamas on Monday, ready to
begin construction of a new
national stadium before the end
of the year.

The announcement was yes-
terday greeted enthusiastically
by president of the Bahamas

nn ve

Olympic Association, Welling-
ton Miller, who described the
news as “a great thing.”

“That’s long overdue. Sports
in the Bahamas need it, so the
sooner it happens, the better. I
wish the construction would
start tomorrow.”

Former Prime Minister Perry
Christie accepted the offer from
the Chinese government to pro-
vide $30 million to build the
national stadium during a visit
to China in 2004.

SEE page eight




athe tes ans



CMa ALL Ale

FUNANGEAL PLANNING
Ca EAE: sels




PAGE 2, WEDNESDAY, OCTOBER 29, 2008





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Call for more action

THE TRIBUNE



to ease financial woes

m@ By LLOYD ALLEN
Tribune Staff Reporter



THERE is a growing consensus that although
government has introduced temporary relief plans,
a comprehensive approach is needed to ease the
average Bahamian’s financial woes.

With three relief schemes announced so far, The
Tribune canvassed downtown Nassau yesterday for
some feedback.

Local taxi driver Kenneth Hanna called the gov-
ernment’s decision to cap the fuel sm cuerae at 15
cents per kilowatt hour “a beautiful thiny” — as

“everybody right now struggling to make it.”

“As a taxi driver, we be out here every day 24/7,
and sometimes I don’t even get one job. The gov-
ernment is trying to help a lot of people who can’t
help themselves, (but) more is still needed.”

Store manager Deon Knowles said: “The change
from 22 cents to 15 cents is not that dramatic, and I
think that it’s really up to the consumer to be more
conservative with their use of electricity. More
efforts are needed yes, but then again these are only
temporary relief efforts that don’t really solve the
problem, it only off-sets the problem for a short
period of time.”

Banker Torrien Rutherford added: “We really
can’t assume what’s going to happen later; as a
nation it’s important to help those that need help. I
think there has to be some consideration of the
long-term effects of this, because you know if you
continue to give, it’s going to leave a aoe some-
where.”

Bus driver Wendal Davis said: “Right now even
though this plan seems all fine and dandy, later on
down the road when the bills really start to pile up,
then the government is going to say they can’t help
us no,more, because they already put in so much in
the beginning, and wouldn’t be able to do the same
later on down. Right now people just need to hold
fast, and save.”

Bahamas Chamber of Commerce president Dion-
isio D'Aguiliar told The Tribune yesterday that

HAMM CUnare



although government initiatives are appreciated,
the bottom line is that Bahamians need to change
their spending habits.

He said: “I think at the end of the day even if the
surcharge goes to 15 cents, it’s not going to be much
of a relief. It was a nice thought if oil prices had
remained high, but the market is taking care of this
particular issue.’

Concerning the new payment scheme for those
behind on electricity bills, Mr D’Aguiliar said:
“Many consumers don’t pay their bill in full, and not
paying in full lead to this present situation.”

Mr D’Aguiliar explained that there has to be an
national effort to reduce household consumption
and energy usage. With many looking for a way out

. of their economic troubles, Mr D’Aguiliar said,

“there has to be an analytical approach in reducing
the burden of the average Bahamian.”

_On September 17, Prime Minister Hubert Ingra-
ham instructed BEC to reconnect 5,000 persons
with electricity bill debts. He arranged for BEC to
collect a minimum of 25 per cent of the amounts
owed by October 10, and allow a two-year pes
plan for collection of the balance.

In addition to this and the fuel surcharge cap, a
third relief plan is set to start in November which will
provide. assistance for mortgage holders struggling to
make payments.



Police believe drugs behind murder

@ BY DENISE MAYCOCK
Tribune Freeport
Reporter

dmaycock@tribunemedia.net

FREEPORT - Grand
Bahama Police believe that the
motive behind the murder of 35-

a ee
EXTERMINATORS

FOR PEST PROBLEMS
PHONE: 322-2157



year-old Coral Reef Estate resi-
dent Donald Phillippe was drug
related, a senior police official
reported.

Mr Phillippe, a resident of No
77 Coral Reef Square, was shot

‘to death at his home early Sat-

urday morning by three gun-
men. Chief Supt Basil Rahming
said police have launched an
intense investigation into the
matter.

“This matter, which is being
classified as Grand Bahama's.
eleventh homicide for this year
and which appears to be drug
related, is presently under inten-

' sive investigation,” he said.

Mr Rahming said Mr
Phillippe was at his home,
where he resided with his wife
and children, when he was
attacked by three men at
around 4am. He said.the sus-
pects interrogated Mr Phillippe
for some time. Gunshots were
later heard being fired as the
suspects fled the area on foot.

Supt Rahming said when
police arrived at the scene, they
found Mr Phillippe lying dead
on the front room floor. His -
wife and young children were
unharmed.

BRON pa ee ee
October 29th, 1958 - October 29th, 2008

ars -

Married Fifty Ye



To God be the Glory!
Ag

THE TRIBUNE WEDNESDAY, OCTOBER 29, 2008, PAGE 3. fy

In brief “| h ave nothin - Indie star Nyee Moses to__|'

© In brief jini sarge Mos
to apologise for’

Man shot by

police charged

with several

offences

AS the deadline to apologise

to Appeal Court president
Dame Joan Sawyer draws near,
justice campaigner Tanya Cash

FREEPORT —- A man who
was shot last week by police
was charged with several
offences in Freeport Magis- | tepeated yesterday that she has
nathing to apologise for.
Mrs Cash, appearing as guest
, on the radio programme. ‘The

trate’s Court yesterday.
Way Forward’ on GEMS

Lynden Flowers, of 311
105.9FM with her husband

Melbourne Crescent, Hud-

son Estates, appeared before
Greg, has been ordered to pub-
lish an apology in a newspaper

Magistrate Debbye Fergu-
by tomorrow, October 30, or

son.
He was charged with
face imprisonment.
“I know my steps are ordered

assaulting a police officer
with a dangerous instrument,

by the most high God and I
must go through what I have to

namely a knife, intentionally
and unlawfully causing harm

go through according to His
will,” she told listeners.

to a police officer and caus-
Repeating that she has no

ing material damage to a

police depot shirt, the prop-
idea what she is supposed to be
apologising for, Mrs Cash said:







m@ BY ALEX MISSICK

NEW indie artist and vocal
sensation Nyee Moses (pro-
nounced nigh-ee) will be the
feature artist at the Princess
Margaret Hospital Founda-
tion fundraiser concert in aid
of the Princess Margaret Hos-
pital on November 22 along
with a host of other Bahami-
an jazz artists.

The Princess Margaret

~ Hospital Foundation is-a non-: .
profit organisation, established to strengthen the hospital’s abil-
ity to provide quality healthcare.

The concert, entitled the “Miracle Concert” has several objec-
tives, but its primary goal is to generate more than $500,000 for the
purchase of desperately needed hospital equipment, including
beds and medical equipment. :

Ms Moses, a young woman from upstate New York by way of
Philadelphia, has captivated audiences with her migration through

‘ acluster of cultures and sounds that reflect the diverse interests
of this lover of world music.

When first hearing Nyee’s smooth sounds and soulful tone,
many will immediately draw comparisons to another soulful
siren, Sade. However don’t expect carbon copy; you will not get
it from Nyee.

Justice campaigner Tanya Cash maintains
her stance as court deadline looms



erty of the Bahamas govern-
ment.

It is alleged that on Octo-
ber 19 the accused attempted
to stab a police officer.

Flowers pleaded not guilty

_to the charges.

Magistrate Ferguson
granted bail and adjourned
the matter after instructing”
the prosecutor to submit a
report on the mental state of

“I just couldn’t believe I was
even in a court of law. But God
is in charge, and He is in con-
trol.

“And I will say today and
publicly that I have no reason to
apologise.’They say | am in con-
tempt of court because of a
matter that extends back from
2006 when I talked about the

Greg and Tanya Cash

jumped from $10 or $15 to $500
or $600. And that is a contempt
matter?

“I am calling now on the
prime minister to speak up. I
am calling now on the chiet jus-
tice to speak up. This is not jus-



tice in this country!” she
exclaimed.

Mrs Cash thanked support-
ers for their good wishes and

even those who petitioned her .

to give in and apologise for the
sake of her family.

Ms Moses said: “My inspiration has been artists such as Seal,
Billie Holiday, Marvin Gaye, Sade, Damian Marley, Sting, Bob
Marley and Ziggy Marley to name a.few. My music is about my
life growing up and reflecting on the things I experienced.”

Ms Moses said she is very excited to perform and participate in

the concert. “When people like your music, that’s great, but
where do you go with it? When you use the music you make as a
vehicle to help cure, heal and raise money, you are helping with
your music — that’s where the reward is,” she said. © »

Multimedia professional, jazz enthusiast and executive director

for Ivory Global Promotions Rosco Dames, said Nyee was first on
his list.

“When the hospital approached me to put together a fund
raising concert, the first person came to my mind was Nyee
because of her music, it’s broad appeal and because it’s not just
jazz. I thought it would bea broader appeal for that kind of
audience because you can bring your kids to this one to support
the hospital naturally, but at the same time expose them to music
that they can like,” Mr Dames said.

Bahamian artist such as Lou Adams Jr, a trumpet player, and
Mario Lord, a percussionist, will be opening the concert for
Nyee. The venue for the concert will be announced at a later date.

* the defendant. astronomical filing fees which



EIR Bnehiee te

het)
aan 5
bic an te ae
Sean rar

Pale naary

bel tnat viele]

good news for ex-COB lecturer



PANN asec

SARAH PALIN is not to
everybody’s taste, but she’s
certainly in the good books of

former College of the
Bahamas lecturer Stephen
Lay.

‘Mr Lay is part-owner of the
Alaskan publishers Epicenter
Press, whose biography of
Palin has now jumped to num-
ber three on the New York
Times bestseller list.

Until Palin’s sudden rise to
national prominence, Epicen-
ter saw itself as a regional pub-
lisher of short to mid-run
books.

Five thousand copies sold
was considered a solid return
on their investment.

But ‘Sarah’ by Kaylene
Johnson, first published five
years ago, has pushed their





distribution resources to the
limit, boosting revenue mas-
sively and making Epicenter
the little publisher everyone
in the business suddenly wants
to know.

Mr Lay, who was journal-
ism lecturer at COB for three
years before joining Dupuch
Publications as a senior edi-
tor, has written a couple of
titles himself for the firm he

_ joint owns with two others,

including one on Alaskan cui-
sine. ;

But none of them saw Epi-
center as anything more than
a moderately successful pub-
lisher of Alaskan titles - usu-
ally works on dog-sledding,
survival techniques and eski-
mos.

However, John McCain’s

decision to choose Alaska
governor Palin-as his vice-
presidential running mate
changed everything.

Suddenly Epicenter’s biog-
raphy - the only book on Palin
in print - was wanted by every
book chain in the land.

Within days, stocks had run
out and tens of thousands
more copies were on order
from the printer. Since then,
the demand has been non-
stop.

Mr Lay, who now teaches
in Thailand, had to watch
from afar as the small pub-
lishing house struggled to cope
with orders from Maine to
New Mexico as Palin made
her initial powerful impres-
sion.on the political scene.

The demand is probably

Metta \y

PSN TRC eTeSee Ss WA
NS
aes TC SS
ss
x »}
NA ;
‘ ; d

AUTHOR Kaylene Johnson (left)

chats during a book signing event
for “Sarah: How A Hockey Mom

Turned Alaska’s Political Establish-

ment Upside Down” at Title Wave
Books Saturday, Sept. 20, 2008 in
Anchorage..A.week.after Palin's bi
announcement in August, 80,000
new copies of “Sarah” hit stores.
“Sarah” is now No. 3 on The New
York Times paperback nonfiction
best-seller list.

Anchorage Daily News,
Erik Hill, AP Photo

one of the biggest ever for a
publisher outside of the New
York mainstream.

The book has hit the best-
seller lists of not only the New
York Times, but also USA
Today and Publishers Weekly,
the ‘Bible’ of the book busi-
ness in America.

It covers Palin’s early life as
ambitious student and bas-
ketball star Sarah Heath, then
moves on to her days as May-
or of Wasilla, concluding with
her various struggles as
Alaska’s governor.

Mr Lay, who used to teach





at the University of Alaska, -

knew Sarah slightly 20 years
ago when she was a junior TV
anchor in her home state.

He described her as
“straightforward and honest”
and predicted when she was
first picked by McCain that



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she would make a big impres-
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As it happens, she’s also
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LL


PAGE 4, WEDNESDAY, OCTOBER 29, 2008

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE






























The Tribune Limited

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-199]



EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B.
Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Difficult times ahead

THE ATLANTIS resort, whose owner
Sol Kerzner took a wager on the
Bahamas about 15 years ago and won,
is now, like resorts around the world,
suffering from the global melt down.

Accustomed to having a full house, the
fall-off in Atlantis’ guests has been dra-
matic.

It was Sol Kerzner and his late son,
Butch, who came to the Bahamas at a
moment when there seemed little hope
for the future of these islands.

The Kerzners quickly turned despair
into hope.

They decided to build a resort that
would make the world sit up and take
note.

At the time the Bahamas was no longer
a sought-after tourist destination.

It was Kerzner’s unique Atlantis that
attracted other resort investors to the
Bahamas, thus starting a building boom
that created a vibrant economy, which
many believed could not fail.

However, last week, in an interview
with The Nassau Guardian, Kerzner’s
president and managing director, George

.Markantonis admitted that, despite indus-
try analysts assuring him that Atlantis is
faring better than other resorts, the pre-
sent downturn is having “a much more
far reaching impact than 9/11 did in









































Compared to the same periods in pre-
vious years, bookings for Atlantis prop-
erties are down. *

He admitted that although offering
special promotions on Atlantis’ web site,
they are saving their marketing efforts
for better times.

There were practical reasons for this.

“We have marketing efforts,” Mr
Markantonis told The Guardian, “but
we’re not putting them in place right now
for a very strong reason.

“There’s no point in wasting marketing
dollars when there are no people out
there looking to travel.

“It would be foolish to throw that out.
We intend to start our marketing cam-
paigns again in full earnest after Novem-
ber 3.”

We agree with Mr Markantonis that

the downturn in our tourist industry has
nothing to do with America’s November
4 presidential elections.
* However, we do believe that much of
the present negative publicity will be
eliminated from the newspapers and air-
waves as soon as a new president is
installed in the White House.

We also believe that a glimmer of hope
will start to shine again if Americans are
encour ithout a



2001.” ; i negative election campaign playing inter-
Up until August, Atlantis was doing ference — and rebuild their economy.
very well. Mr Markantonis advised hotel workers,

That steady climb was interrupted by
Hurricane Ike, followed by the collapse
of America’s financial markets.

Mr Markantonis denied that Atlantis
— the Bahamas’ largest private employ-
er — has had significant staff layoffs.

Instead, his company has reduced staff
hours to two to three days.a week so that
at the end of the week all staff will take
home a paypacket, albeit reduced.

He pointed out that September and
October have always been slow months,
when staff levels have been reduced
according to occupancy. ‘

However, he was saddened because he
didn’t think that this year or next year
were “going to be restricted to the
months of September and October.”

to brace for difficult times ahead — times
that could be of considerable duration.
He advised them to be conservative and
not to spend foolishly during these lean
years.

He also advised Bahamians to help
themselves by helping the nation and the
industry that puts bread on their tables. -

He urged them to throw themselves
“with devotion into the few customers
who are coming here to these islands and
completely blow, them away with friend-
liness and service.”

“We all have a responsibility now,”
he said, “to set a service standard so high
that those who really are travelling will
want to come here again.”





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A student’s plea
to Govt to modify
straw market

EDITOR, The Tribune.

Please allow me, a concerned
youth some space in your news-
paper in order to express my
views publicly as they relate to
the present conditions of the
straw market.

It is with great regret that I
convey my deepest concerns for
the existing condition of our his-
torical straw market in down-
town, Nassau.

It is quite evident that many
individuals before have
expressed with great disgust the
present conditions of one of the
most popular tourist attractions
here in Nassau; however, today
1 am pleading with the govern-
ment for their assistance in pre-
venting the downfall of this
great industry.

It would be truly dishearten-
ing to see that one of our oldest
industries will lose its reputa-
tion and magnetism, because of
a little desertion not only by the
government, but also by ven-
dors who have made the straw
market their means of making a
stable living.

There is no explanation as to
why the government allowed
persons to tarnish the nature of
a place that has become so
applicable with cultural experi-
ences here in the Bahamas.

Traditionally the straw mar- .

ket would have specialised in






HgwyAs

letters@tribunemedia.net

straw products or all things
native to our country, includ-
ing hand-made bags, hats, slip-
pers, dolls, fabrics, jewellery and
wood carvings.

Things like paintings and
home-made jellies and jam
could also be found at the straw
market.

Today, our straw market can
be compared to the likes of flea
markets you see in places like
Mexico, Europe, Hawaii and
even the United States.

After the fire in 2001, the
straw market was never built
back to its splendour; moreover,
today it is a sight for sore eyes,
and many visitors make blogs
that are viewable over the inter-
net announcing to other
prospective visitors that they
are unimpressed by the straw
market’s conditions.

They complain that the tent
that the market currently sits
under is rodent infested, hot
and cramped with narrow aisles.
Intrusive vendors make it dif-
ficult to pass as they sit and
block walkways.

These conditions make it very
uncomfortable to shop. Some

visitors say that the market is
only great for getting good
knock-off bags and watches for
low prices.

The government needs to
revise the problem with the
straw market.

The overall structure is not
the only element that needs ,
reconstruction,

We need to put a stop to sell-
ing imported items in our mar-
ket.

The vendors decmmseives need
to be reviewed, because most
are not eligible to be working
with the public.

Furthermore the majority of
persons working in the market
at these present times are not
even Bahamian nationals; they
are Jamaicans and Haitiaus who
tend to be very unfriendly and
unprofessional to visitors.

I am one of few, who strong-
ly believe that if the govern-
ment was to begin to issue
licenses to qualified persons to
be in the straw market area, the
rules and policies that govern
all businesses whether big or
small in our country would be
adhered to, and the straw mar-
ket would be able to maintain
its significance in the Bahamian
culture.

S A RICHARDS"
Nassau,
September, 2008.

You should know gasoline is a
‘price controlled’ item, Ms Grant

EDITOR, The Tribune.

EITHER Verna Grant real-
ly doesn’t know any better or
she is totally naive and thinks
we, her constituents, are stu-
pid.

I saw a Freeport News front
page story, published Satur-
day, 18th October, where Ms
Grant was complaining about
the high cost of gasoline. She
was, in effect, accusing gas
retailers of price gouging, but
doesn’t she know that the
price that gas is being sold for,
locally at the pump, is con-
trolled and approved by her
FNM government? And isn’t
she a part of this government?
Pray tell me, to whom was she
complaining?

Ms Grant, in the newspaper
report, made the point that
anytime the price of crude oil
increases, immediately the
price of gas at the pump
increases but consumers, she
said, don’t enjoy reciprocal
price decreases, when the
price of crude oil decreases.

Shoe’& Bag Roudqu



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She inferred price gouging on

the part of gas retailers and
called on them to be mindful
of the bad economic times
people are going through.
When it was explained to her,
that a possible reason for that
situation occurring might be
that retailers are still being
sold supplies from an old
stock, as opposed from the
new stock, she seemed to
ignore the suggestion and

shrugged it off as a likely sto-.

ry.
Surely you jest, Ms Grant,
pretending not to know that

if a dealership imports a ship- .

ment of fuel at a certain land-
ed cost, he or she must sell off
that entire shipment at that
locked-in price before chang-
ing the price on any subse-
quent new shipments import-
ed: The invoice cost and the
amount of customs duties paid
on the old stock do not change
when a new shipment is
imported at a different price,

whether that price is higher
or lower. The government
must allow the importer to sell
off the old inventory, at the
old price before the new con-
trolled price change takes

’ effect; don’t you know that Ms

Grant? This is all so very ele-
mentary. It is no wonder, then,
why we are in this leaderless
state.

I am appalled that the
Freeport News would feature
this nonsense on its front page.
Isn’t there someone in that
establishment who knows bet-
ter?

Couldn’t the reporter
remind Ms Grant that gaso-
line is a “price controlled”
item? That it is her govern-
ment who dictates the mark
up on these fuels?

FORRESTER J
CARROLL
Freeport,

Grand Bahama,
October 2008.

NOTICE

NOTICE is hereby given that ROLECK JEAN DUMEL

of NASSAU STREET,

NASSAU, BAHAMAS, GT2291

is applying to the Minister responsible for Nationality and
Citizenship,

for registration/naturalization as a_ citizen

of The Bahamas, and that any person who knows any
reason why registration’ naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 22nd day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.
















MR. FRANKLYN
BUTLER SR. &
FAMILY

copest Symp alhy
tho ugh is and fevayers
C G
are wth you.
From Frank Mackey & The

Management

tropical Shipping







and Statf af










THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 5



ia ix
© In brief Churches ‘should 90 beyond Caer oekomcchra
- the usual’ to help members

SW) been the premier union in the’

Improvements
to Abaco's
Bay Street are

‘progressing well”

m@ By KATHERYN
CAMPBELL

DURING a stopover in
Abaco last week, Works and
Transport Minister Neko

Grant inspected a road works

project underway in Marsh
Harbour.
On September 12 the gov-

ernment signed a contract for
$162,343 with Larry Williams :

of Larry’s Construction

Company in Dundas Town to

resurface 2,000 feet of Bay
Street from Arawak Agency
to the freight dock.

The contract includes
removing existing pavement
and quarry, levelling and
compacting the base and
installing six-inch concrete
slabs.

The work, which also
includes installation of light-
ing, is expected to take six
months to complete.

Following a brief inspec-
tion, Mr Grant said: “Just

over five or six weeks ago we :

awarded the contract for the
restoration of Bay Street.
“Bay Street was originally
a concrete road with some
work done with asphalt. We
felt it was taking away from

Marsh Harbour and we want !

to maintain the old charm of
the island. Hence, we decid-
ed to restore the road with
concrete.

“Work is progressing well
and we expect on time com-
pletion and quality work,”
the minister added.

Mr Grant was accompa-
nied by Anita Bernard, per-

manent secretary in the Min-

istry of Public Works and
Transport; Gordon Major,

_ acting director; John Schaef-
fer, area engineer and
Theophilus Cox, administra-
tor for North Abaco.

Florida polls
open later after
Gov Crist
changes mind

M TALLAHASSEE, Fla.

SWAYED by record :
turnout, Gov. Charlie Crist :
changed his mind and signed :
an executive order Tuesday :
that immediately extended :
early voting hours in Florida, :
a likely swing state in the :
presidential election, accord- :

ing to Associated Press.

Crist had said earlier in
the day that he didn't think :
the law allowed him to add :
hours. But he said he recon- :
sidered after consulting with :
his lawyers and political :

leaders of both parties.

"This is not a political :
decision," Crist, a Republi- :

can, said at a hastily called

news conference. "It's a peo-

ple decision."

Crist said he was justified

in adding hours regardless
of what the law says because

of long lines at polls and new }
voting machines in some }

counties are causing delays.

His order keeps voting :

sites open from 7 a.m. to 7

p.m. on weekdays, four }
hours longer than state law }

specifies. It also requires

that they be open 12 hours }
this weekend, also four :
hours longer than the law :

says.

decide how to divide the

weekend hours in each
county. Early voting ends at :

7 p.m. Sunday.
Before deciding, the gov-

ernor said he had consulted
with Florida House Democ-
ratic Leader Dan Gelber, :
Secretary of State Curt }
Browning and had spoken :
earlier with GOP legislators :

but not on Tuesday.

"It was the right thing to
do," said Gelber of Miami :
Beach. "I believe the gover-

“nor properly exercised his

authority to address this sit- :

uation."

Florida is again key this
presidential election season,
with 27 electoral votes — 10 :

percent of the 270 needed
to clinch the election. The
state's disputed election in

2000 gave the presidency to :
George W. Bush, and he :

captured the state in 2004.
This year, Republican John
McCain and Democrat
Barack Obama are locked
in a close race.

Local election officials will!



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

LOCAL churches should “go beyond [
the usual” to extend a helping hand to |
their members who are bearing the
brunt of the economic downturn, said

Bishop Simeon Hall.

The senior church leader noted that
there are more than 3,000 churches in
the Bahamas and that “99 per cent” of
working Bahamians are church mem-

bers.

“It would be interesting, if say, we
were to get just a hundred of them to
put up $1,000 each. That could put a
dent in assisting those who’ve been waylaid by this

economic tsunami.”

“Churches are there to help people and the
majority do a fairly good job, (but) as in this case
with the hotel union, you have to go beyond the

usual.”

He said that his church sees at least eight peo-
ple a day present themselves to plead for financial
help, “and the majority of them are not mem-

bers of our church.”

Bishop Hall said he believes churches can
afford to make such payouts at this time.

He was speaking at Worker’s House on Mon-
day, where he commended the Bahamas Hotel
and Allied Workers Union and other board
trustees on the decision to make millions of dol-
lars from the reserves of the Bahamas Hotel and
Allied Industries Health and Welfare Benefit

Fund available to its members.

“T think it underscores the fact that (the
Bahamas Hotel and Allied Workers Union) has

Bahamas, and if I may, it says that
people can do good business with
integrity and stand with their mem-
| bers in a time of crisis. I think it shows
|) a degree of sensitivity and empathy
for workers.

“We must be sure that the workers
who form the backbone of this com-
munity are in fact the recipients of all
_| that we could do at this time.”

Up to 6,000 hotel workers who have
suffered from having their work weeks
reduced to three days or less in Sep-



Bishop Simeon Hall

to benefit from $1,000 each.

The money from the fund will be
used to help pay the bills and meet other subsis-
tence needs of union members.

Bishop Hall added, however, that he thinks it is
“unfortunate” that those who have already lost
their jobs in the industry “cannot benefit” from
the payout.

The senior church leader also gave his opinion
on the source of the world’s economic woes,
which are now also affecting the Bahamas.

“Someone said this started because
of ‘bad loans’,” Bishop Hall said referring to
the sub-prime mortgage crisis in the United
States.

But, according to the senior church leader, “the
real cause of this in the US is ‘predatory loans’
and greed and corruption.”

“Before it’s over, I hope somebody is brought
before the world court and tried for crimes against
humanity. I do not say that lightly, because I
think these things go on and we blame everyone
but the right persons,” he said.

Concerned mother aims to
help Grand Bahama go green

A CONCERNED mother in
Grand Bahama is cleaning up her
“urban footprint” by helping an
entire island think twice about the
environment.

Dalia Feldman, mother to two
young boys at the Lucaya Inter-
national School (LIS), spear-
headed the concept of designing
and selling reusable grocery bags
in Grand Bahama.

“T have always been concerned
about the effects we have on the
environment as a community. We
don't recycle and it saddens me
to see trash on our beaches and in
our oceans,” said Mrs Feldman.

“On top of that, plastic grocery
bags seemed to be taking over my
kitchen. Whenever possible I
reuse plastic containers, jars and
grocery bags, but I still had an
overflow of bags.”

On recent trips to Abaco and
Nassau, Mrs Feldman said she
noticed that the reusable bags
seemed to be everywhere and
appeared to be a sensible solu-
tion.

“So I surfed the net to find
‘Green Bag’ manufacturers and
then I approached the school
about my idea. Last year, Saman-
tha Fern and I held a drawing and
logo contest for students in grades
one through six.”

The winning design was created



LOVEIOY







tember and October are now eligible .

for grand banquet

THE 1968 class of Govern-
ment High School is complet-
ing the year-long celebrations
of its 40th anniversary with a
bang.

The event, a grand banquet,
is set to be held at the British
Colonial Hilton.

It is hoped that 150 persons
will attend. Tickets are $100
and classmates are being asked
to assist in selling the tickets.

Dr Rhonda Chipman-John-
son, chairperson of the GHS
class of 1968,-said that she and
her classmates have been the
beneficiaries of “an excellent
education.”

“The GHS provided us with
an excellent educational foun-
dation and the social skills
needed to be successful in life
— a high level of literacy,
numeracy, etiquette, healthy
competition, discipline and
integrity.

“We believe that we should
contribute to the society
because we have benefitted so
much. As a result, over the
years we have made several
donations to the present school
and have conducted a career

seminar for the 12th grade of |

the GHS. Monetary donations
have also been made to the
Cancer Society, BASH and the
Red Cross. When necessary,
we have also assisted class
members,” she said.



Dr Chipman-Johnson said
that Government High today
is a very different school than
it was in the 60s.

“Many classmates are very
disappointed in how the school
has changed and some no
longer wish to be associated
with it. However, many of us
believe that we should contin-
ue to work with the school and
assist where we can.

“Somehow, we have to bring
batk the high standards, the
spirit of competition and pro-
vide opportunities for students
to stretch their minds.

“There is far too much
mediocrity in our society
today,” she said.

During the year of celebra-
tions, which began in October,
2007, the class of 1968 has held
steak-outs, church services, a
walk-a-thon, and participated
in a Scandinavian cruise.

Saturday’s banquet is
expected to be attended by
former GHS students from the
classes 1964, 1965, 1967, 1968,
1969, 1971, and 1979 and a few
others. Sir Arlington Butler,
former mathematics teacher at
the school in the 1960s will be
the speaker. }

Other teachers and stalwarts
will also be in attendance,
including Dr Keva Bethel,
Marjorie Davis, Tino
Christofilis and Hugh Sands.

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by Haley Kennedy and the logo
was created by Shannon Millard.

The LIS students will now sell
the bags to the Grand Bahama
public to cover the cost of the bags
and shipping to the island.

Mrs Feldman’s main goal is to
get people to use these bags, not
to make a profit, so she turned to
another sponsor to keep the price
low.

“T called Jeff Butler, as I knew
him personally and knew about
his keen interest in Grand
Bahama. He helped us without
hesitation and agreed to pay for
half of the bags, pay the total duty
costs and take care of shipping,”
she said.

Mr Butler, who is well known
for his philanthropic work, was
pleased to lend a hand to the stu-
dents.

“It was a no brainier, the
reusable bags are all over the
world, it was time for them to
come here and I was so pleased
that I could team up with a school
to help Grand Bahama go green.

“This concept is something we
must all embrace and I will
encourage my patrons to buy and
use these bags in my store and
any store they shop in,” he said.

In addition to selling the bags,
LIS students from grades four,
five and six are also tagging each

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bag with environmental facts, so
people know why and how they
are helping the environment.

“We are studying the environ-
ment and we have researched the
effects and dangers of plastic bags.
We found out that it takes 450
years for a plastic bag to break
down, 450 years,” said Tara
Doherty, a grade five teacher at
LIS.

The ‘green facts’ are being hand
tagged on each reusable bag and
have been donated by another
parent, Paula Farrington of
Freeport Advertising and Print-
ing.

The LIS reusable bags will be
sold at the school, at Butler’s Spe-
cialty and by LIS students, and
will retail for $2.50 per bag.

Mrs Feldman is hoping that
these efforts will make a real dif-
ference in Grand Bahama, and is
pleased that her children and oth-
ers are now realising the impact
humans make on the earth each
day.

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THE TRIBUNE





C) sizinaty known as
economic individual-

ism, The Routledge Dictionary
of Economics (2000) informs us
that “capitalism” is:

1. A socioeconomic. system of
production using roundabout
methods of production (round-
about method of production is — a
method of production which uses
capital goods to increase produc-
tivity of factors of production).

2. An economy based on pri-
vate enterprise. .

3. The use of markets and not
planning to allocate economic
resources.

4. Production motivated by the
profit motive.

However, with the mortgage -

debacle around the world creating
havoc in financial markets, capi-
talism is under attack.

One side of the debate says
deregulation caused the problem,
while the other side says govern-
ment guarantees for "junk mort-
gages" encouraged risk taking
beyond the imagination. ©

Another group also suggests

that moving to the use of Fiat

BY THE NASSAU INSTITUTE



Money as opposed to the Gold
Standard, has helped get the
world in the mess it's in.

Whatever the cause (the histo-
ry of these times will be written in
the months and years ahead) gov-
ernments around the world have
wielded considerable control over
economic affairs.

The Fortune Encyclopedia of
Economics closes out a chapter
on capitalism with some impor-
tant food for thought:

"Today the United States, once
the citadel of capitalism, is a
"mixed economy" in which gov-
ernment bestows favors and
imposes restrictions with no clear
consistent principle in mind.

“As Soviet Russia and Eastern
Europe struggle to embrace free-
market ideas and institutions,
they can learn from American
(and British) experience about
not only the benefits that flowed
from economic individualism, but
also the burden of regulations
that became impossible to repeal
and trade barriers that were hard
to dismantle.

“If the history of capitalism
proves one thing, it is that the
process of competition does not
stop at national borders. As long
as individuals anywhere perceive
potential for profits, they will

Capitalism u

“YOUR SAY





“There are similarities in the
current economic crisis to the
Great Depression. Missing so far
are the direct attacks on
businessmen. This may yet come

to pass.”



amass the capital, produce the
product, and circumvent the cul-
tural and political barriers that
interfere with their objectives."

This begs the question: Has
capitalism been found wanting or
has the oratory skills of politi-
cians from both sides of the polit-
ical divide in the US so confused
the discussion of how their actions
might have impacted this crisis,
that the free market is the easy
target?

The shift toward
- Socialism

In an attempt to “fix” the mort- .

gage crisis, governments around
the world have begun nationalis-
ing banks and insurance compa-
nies. A move that will advance
socialism around the world. And,
as Pope Leo XIII said in his
Rerum Novarum of May 15, 1891:

"The main tenet of socialism,



namely the community of goods,
must be rejected without qualifi-
cation, for it would injure those it

’ pretends to benefit, it would be

contrary to the natural rights of
man, and it would introduce con-
fusion and disorder into the com-
monwealth."

As long as people are generat-
ing gains that are unsustainable,
all is well with the market. When

_ the market corrects these excess-

es, capitalism is blamed for the
problem. There are similarities in
the current economic crisis to the
Great Depression. Missing so far
are the direct attacks on busi-
nessmen. This may yet come to
pass.

Where does The
Bahamas fit in?

So how does this all relate to,
The Bahamas?

Regrettably, both major politi-
cal parties (FNM and PLP), and
the fringe group (BDM), seem
corivinced that government can
solve personal problems of indi-
vidual Bahamians.

Neither party sees the need to:

e Encourage entrepreneurship
through reducing the red tape to
facilitate opening a new business.

e Ensure improved public edu-

nder attack?



cation as long as government
chooses to monopolise the edu-
cational system.

¢ Balance the budget.

e Privatize the public corpora-
tions.

e Reduce the size of govern-
ment with the objective of lower
taxes. : ;

e Provide the resources for an
efficient justice system. _

e Encourage Free Trade, rather
than so called Fair Trade.

e Uphold the rule of law and
foster a culture of accountabili-
ty.
Few politicians examine the
effectiveness of their policies or
their rhetoric that is antagonistic
toward business.

Government policy to pay the
utility bills and mortgages
advances the welfare state and
discourages individual responsi-
bility while increasing the nation-
al debt burden of future genera-
tions. The Economist editorial of
October 16, 2008 stated:

“Sadly another lesson in histo-
ry is that in politics economic rea-
son does not always prevail — -
especially when the best-case sce-
nario for most countries is a short
term recession...”

On balance, capitalism has
become the scapegoat for poli-
tics run amok.



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Should the elderly be made
to retake their driving test?

@ By ALEX MISSICK

Me: people would
agree that trans-

portation regulations should
strike a balance between an
individual's needs and the pub-
lic's right to road safety. But
consider the case of elderly dri-
vers, who some feel pose a risk
which Bahamian law does not
recognise.

‘ By monitoring the fitness,
safety records and medical con-
ditions of elderly drivers, roads



in the Bahamas could be safer -

for all users, concerned citizens
say. Some are calling for legis-
‘lation that will make it manda-
tory for everyone to retake
their driving test at a certain
age.

As people get older, they.

experience changes in their
physical, sensory and cognitive
abilities, which can affect dri-
ving ability. Driving is not
something that we can do for-
ever as it demands ones’ full
attention, good vision and
hearing, as well as sharp deci-
sion-making abilities.

Dr Elwood Donaldson, a
general practitioner, said many
elderly persons lose basic dri-
ving skills as they age.

“These abilities may be
slowed or impaired with the
development of impaired brain
function whether from the
effects of medication, medical
disorders, drugs/alcohol or
dementia. Reduced vision (par-
ticularly at night), a decrease
in depth perception, parkin-
son’s disease and movement
limiting disabilities such as
arthritis and rheumatism
(which slow down response
time in dealing with sudden
traffic changes), can all affect a

persons’ ability to drive safe- -

ly,” he said.

Dr Donaldson said he can
remember an incident in which
he had. to warn an elderly
friend to stop driving.

“T had to tell him from a doc-
tor’s perspective that he was
not in physical shape. Since I
did not want him to injure him-
self or anyone else I couldn’t
certify him as being able to dri-
ve,” Dr Donaldson said. -

Age and medical conditions
affect driving ability in many
ways. Persons may recognise
the changes immediately, slow-
ly over a period of time, or
sometimes not at all.

Frankia Russell-Rolle, a 22-
year-old driver, said she feels
older drivers should be taken
off the streets entirely.

“] think it is very dangerous
to have the elderly driving on
our streets. There should be an
age limit to how old a person
should be when their licence
should be revoked,” she said.

Mrs Rolle suggested that
there should also be a law put
in place allowing for people
driving over the age of 60 to
be charged with an offence and
fined. She said there should be
no retesting for these persons.

' “The elderly should not be
allowed to be retested because
the funny thing is that health
issues that may be fatal can
strike at any time even when
you are driving on the road. So
retesting does not prove that
they can handle it themselves,
especially the ones that are
almost blind and driving too
slow for the pace of Nassau’s
hectic traffic,” Mrs Rolle said.

Giving up such a recognised
symbol of independence can be
a heart-wrenching experience






area of y





and cause profound effects
upon self-esteem, social activi-
ties, entertainment and many
other aspects of everyday life.

Jim Lawlor, a 69 year old dri-
ver, said he realises that he
does not have much time to be
on the road.

“The thing is when you’re
my age and you have driven
for such a long time, you have a

‘lot of experience. It probably

not until something like
alzheimer’s, dementia or an
injury to your legs kicks in that
you realise that your time is
up,” Mr Lawlor said. :

Paste relations officer
for the Police Traffic
division, Garlon Rolle, said he
has come face-to-face with a
number of elderly persons who
do not want to give up the right
to drive.

“Just a few weeks ago an
elderly person had an accident
and his relatives wanted his
licence to be revoked because
they felt that he was a problem
on the road. On the other hand
I ran into another gentleman,
who was about 70 years old,
who challenged me to a race
as he was physically fit. So to
me there has to be a balance,”
he said.

- Sergeant Rolle said that
although he supports legisla-
tion mandating retesting for
elderly drivers, the government
has to be careful when draft-
ing the law, as people’s rights
are concerned.

“When we do decide to look
at this type of legislation we
have to look at it in a case by
case basis. Some at 75 years old
may be able to drive without
any physical limitations while
others may not. We may
require a physical fitness test
to say they are fit enough to
drive,” he explained.

However, Sergeant Rolle
said his awareness to this issue,

_The Tribune_

:

(prompting him to realise that
something must be done), was
only raised when an elderly dri-
ver accidentally took a young
child’s life.

“There was an elderly gen-
tleman in a community and
members of that community
noted that this man had prob-
lems with his sight, which he
denied. In the end, someone
got killed — a small child lost
his life because of him driving
and not being able to see the
small child. Since these persons
are down in age, they cannot
respond as quickly as younger
drivers so many times they can-
not deal with what is going on
around them,” Mr Rolle said.

A local business administra-
tor said she has experienced
this issue first hand as one of
her elderly family members suf-
fers from a medical condition
and has already caused an acci-
dent.

“T have an uncle who had an
accident recently and he did
not remember anything about
the accident. We found out that
the medication he was on was a
contributing factor to his acci-
dent,” the administrator said.

RO WSS oo SS SAN

Due to popular demand The Bahamas School of'}. =

DRIVING IS not something that
we can do forever as it
demands ones’ full attention,
good vision and hearing, as well
as sharp decision-making abili-
ties. (AP)

She said she does not feel her
relative should be on the road
because she fears he may hit
someone and does not remem-

ber what happened or where

he is.

Road Traffic Controller,
Jack Thompson, said his
department expects the elderly
to use their best judgment to
decide when they should stop
driving.

“T have had a few cases
where I had to, at the
assistance of their relatives,
take licenses away from elder-
ly persons,” Mr Thompson
said.

Mr Thompson explained that
although he does support and
endorse retesting for the elder-
ly, there is no such policy at
this time.

NSHI

SS SSS SS

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session of
Seamanship Course on

the
Saturday,

Marine Safety/
November

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The course runs seven Saturdays

(Nov. Ist - Dec. 13th) with classroom lectures from
1000-1200 and practical time aboard the boat from

1300-1500.

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and contact information.



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November 15th, 1943 - October 23rd, 2008

of High Vista Estates will be held at Calvary Bible
Church, Collins Ave. at 4pm on Wednesday, Oct. 29th,
2008.





























He was predeceased by his parents Donald Roy and .
Janette Loretta Fox, sister Ann and brother Albert.He
is survived by his dedicated wife, Donna; son, Ricky;
daughter, Michelle; daughter in-law, Marlene and two
grandchildren, Ashley and Megan; step-mother,
Margaret; mother in-law, Jean Lowe; three brothers;
Roy, Leslie and Doyle. Four sisters Kay Graham;
Bonnie Culmer; Sharon Sweeting and Monica Cook.
Brothers in-law, Dave Lowe; Robert Eldon; Wesley
Treco; Gregory Graham; Robert Culmer; Owen
Sweeting and Richard Cook. Sisters in-law, Sandra
Eldon; Nita Treco; Lera Fox; Peggy Fox, Ruth Fox
and Carol Lowe. Godson, Wes Treco and uncles, Cecil
and Charlie Fox. Special friends Dr. Lynna and Ko
Kishore, Andrew Barr and Cheryl Lowe and family. |
Numerous cousins, neices, nephews, and a host of
other relatives and friends including Wayde Sands,
Frankie Pinder,Donald Johnson and the staff of Sanpin
Motors where he was employed for 28 years.




A very special thank you to the staff of Lyford Cay
Hospital, especially Dr. Dean Tseretopoulos, Dr. Angela
Kunz, Nurses Tadzia, Linda and Shelly who went
above and beyond their duty in caring for Sidney over
the past several years.Sincere gratitude is expressed
to all family members and friends who have helped
comfort the family during their time of grief.




In lieu of flowers please send donations to the Sassoon
Heart Foundation.Memorial Service arrangements by
Pinders Funeral Home, Palmdale.






PAGE 8, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



| LOCAL NEWS

FROM page one

tions and also pre-booked Christ-
mas vacations.

“During the past few months,
we haven't seen the increase in
travel that we normally see at this
time of year. You know you have.
the mid-term school breaks and
(American) Thanksgiving coming
up and we don’t see the numbers
as in past years.

“This time with the mid-term
breaks you would have had par-
ents taking children off for trips
plus booking a Christmas trip and
we don’t see that. (Now) one mem-
ber of the family may be going and
doing the shopping whereas before
it was a shopping trip and a vaca-
tion for the children. So I think
people are still going but not in the
numbers that they have been,” she
said.

‘The inventory of airline seats
this year is also lower than in pre-
vious years, Ms Sherman said,
because a few airlines have cut
routes.

“Previously we would have had
American, Continental and
Bahamasair, the three airlines
going into both Miami and Fort
Lauderdale, and at the moment

we have American and Bahama- -

FROM page one

cerated for six years, being denied bail through
two trials since his arrest, also in 2002.

Overseas travel

sair servicing Miami and Conti-
nental and Bahamasair servicing
Fort Lauderdale. The numbers of
seats have been decreased so,
although prices haven't increased
because the numbers are lower,
you are getting higher fares
because the number of seats have
decreased.”

She noted that last year Bahami-
ans were making “four or five
trips” a year to Miami but are now
shifting towards one “dream” vaca-

* tion a year, instead of multiple

trips.

To cope with this change, Des-
tinations is focusing on improving
customer service and offering more
exotic packages to entice locals to
offices, Ms Sherman said.

Bahamasair managing director
Henry Woods said the airline has
noticed a slight decrease in book-

ings this year and has adjusted its’

fleet - operating smaller planes on
international routes - accordingly.

“Bookings have decreased
slightly this year, we can see the
trend here is following the industry
and we have approached that from
a point of adjusting ai ‘aft and
the fleet to maintain the capacity

but sort of change the size of the
equipment, alternate smaller
equipment on certain routes on
certain days in order to relieve the
poor loads. But we haven't had a
significant cutback in flights, we’ve
just been adjusting equipment
where necessary to balance the
loads out.”

He is expecting a turnaround
from November onwards: “We
anticipate that it’s really going to
pick up again around the Thanks-
giving time - we anticipate a rea-
sonable Christmas season. Tradi-
tionally those periods have been
very heavy for us so we feel as
though it will pick up in a couple of
weeks and we’ll move back to

- almost all jet services on interna-

tional routes.”

Last month, Bahamasair
announced a new scheme to attract
more customers. The airline part-
nered with several hotel chains and
car rental agencies in South Flori-
da to offer clients special packages.
Bahamasair also said it was
expanding its role by strengthening
partnerships with local hotels and
promotion boards.

Mr Woods said so far the
scheme had performed reasonably
well and the airline planned to
expand it this winter,

Mario Miller autdler

There has been controversy over the unconsti-

accused receives bail

FROM page one

go into effect and six additional
non-touristic zones have been
approved for taxis.

Presently, adults and children
(not in uniform) pay $1 to ride
the bus, while high school age
children in uniform pay 75 cents
and primary school age children
pay 50 cents.

Asked yesterday exactly how
much each of these categories will
now have to pay to ride the bus in
light of the increases, Mr Grant
said that a forthcoming press
release would explain the fee

‘structure. However, none was

received up to press time.

Public Transport Association
Bahamas (PTAB) president
Reuben Rahming said it was too
early for him to comment on the
move, as those in the industry
were also “waiting patiently” for
government to provide them with
exact details of price rises that
are to be allowed.

While calls to raise fares, which
are mandated by government,
became louder in recent months
when fuel prices hit record highs,
the last two weeks have seen sig-

ditney, taxi fares

nificant reductions in the cost of
running vehicles as fuel prices
dipped again in line with falls in
the price of oil in the world mar-
ket.

Yesterday Mr Rahming said
that to tie the industry’s call for
higher fares to gas prices alone is
to “misunderstand” the matter.

“Even though it may have gone
down a little bit it doesn’t change
the fact that inflation has impact-
ed us drastically in the last

‘decade. What that means is that

the same problem you are hav-
ing with your utility bills, higher
school fees etc, it’s the same prob-
lem, the same impact, that per-
sons in the busing industry are
going through.”

He said another major reason
why more money needed to come
into operators is so that drivers
can work “humanely”.

According to the PTAB presi-
dent, the average public service
driver works about 14 hours a
day. “We need to bring new
blood into the industry,” said Mr
Rahming.

In June the Ministry of Works,

in conjunction with the Road
Traffic Department and bus asso-
ciations, announced an initiative
aiming to improve the level of
service provided by jitneys.

Former Minister of Works Earl
Deveaux said the public would
need to “get something in return”
should a fare increase be
approved.

He also expressed hope that
through improving the public’s
perception of the industry more
people would be willing to leave
their cars at home and take pub-
lic transport, thereby relieving
chronic congestion in New Prov-
idence.

Yesterday Mr Rahming admit-
ted that the outcome of the chal-
lenge was a “little disappointing”,
both on the part of the industry
and the government, which had
committed to erecting more bus
stops and other amenities to help
drivers behave in a more orderly
fashion, but expressed commit-
ment to continuing efforts to
brush-up the industry’s image and.
make it more responsive to can-
sumer demand.

A message left for Taxi Cab
Union president Leon Griffin was
not returned up to press time.

Ministry targets improving
quality of visitor experience

tutional nature of remanding a prisoner without
sentencing for such long periods of time.

The brothers’ first trial appearance ended
abruptly, as a juror was found to have a close con-
nection with one of the murder accused. The sec-

General’s Office for a third trial to begin as early
as January.

Justice Stephen Isaacs yesterday asked Ryan
and Lee if they had retained counsel for the next
trial.

ond concluded with a hung jury.
Prosecutors have reapplied to the Attorney

FROM page one

However, with scandals such

as the evolving multi-million dol-.

lar construction scam that has a
sitting MP under police ques-
tioning, Mr Smith said that “indi-
viduals” should think of the larg-
er issue and not allow his or her
situation to jeopardise the par-
ty’s chances of becoming the gov-
ernment again.

“In.the past, the PLP has had
to deal with people who made
mistakes. In some cases it was
mistakes of judgment, but it
resulted in that individual becom-
ing unpopular or the public may
have regarded it as behaving in a
scandalous way, and the party
has had to make decisions about
not nominating them in the com-
ing election. In the past there are
many examples that I don’t nec-
essarily have to go into,” he said.

Usually, the politician accepts

Lee said his family was working on the matter

Former minister

blame for their actions, Mr Smith
said, as he recognises that the
organisation — the party — is big-
ger than the individual.

“You never let your conduct
so impact the organisation that

by your action you bring the,

organisation down. You live to
fight another day. For instance, in
the United Kingdom there is a
gentleman who is re-entering the
Cabinet for a third time. He was
a valuable member of the Labour
party and he had to leave for one
reason or another, came back,
and had to leave again. And he
was a very important man to
Tony Blair’s government. He is
now re-emerging again in the
Gordon Brown government.
“So, human beings make mis-
takes. Politicians make mistakes.

and Ryan replied: “We ga be all right.”

But if it is not a mistake that is
born out of dishonesty and greed,
or supreme immoral conduct,
they can live to fight another day.
So the past has had some good
examples,” he said.

Mr Smith said that if they had
learnt the lessons from their mis-
takes in the past, figures like
Shane Gibson, Sidney Stubbs,
Keod Smith, Kenyatta Gibson,
Neville Wisdom, and Leslie
Miller could live to serve again in
the party.

“They would have learnt their
lesson. Some of our history is the
history of good governance and
responsible politicians, some-
times laced with some conduct
of men who made mistakes.”

He favoured second chances
“as long as (accusations) are not
based on deep-seated dishonesty,
thievery, ora high.degree of
immorality,” he said.

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FROM page one

ing along with the ministries of national security
and environment on initiatives to upgrade the
Bahamian experience.

He conceded that simply attracting new cate-
gories of visitors to the Bahamas is not enough if the
Bahamian product remains the same. The lacklustre
appearance of Bay Street - Nassau’s main thor-
oughfare - and the immediate need for its redevel-
opment is simply one component of the Bahamian
package that needs upgrades.

“A lot of what we talked about in terms of what
the visitor will experience is not now in place but we
are working diligently with certainly all the other
government departments and the private sector to
begin to put that in place immediately, and we’re in
Trinidad at the moment talking to cruise lines and
the central piece of that is the whole downtown
redevelopment which we are very excited about
because that makes Nassau much more attractive to
cruise passengers, plus (the opportunity) exists for
them to make more revenue," he said.

Mr Vanderpool-Wallace did not divulge specifics
of the impending changes to downtown Nassau, as
they fell under the charge of the ministers of nation-
al security and the environment.

“You're going to see it by degrees. You're going

to see a number of things happening - we’re working
with the minister of national security and minister of
the environment, without talking about some specific
stuff - you’re going to see some changes in what
downtown Nassau looks like, what happens in a
number of places already.

“But we will leave those announcements to them,
because it’s really their initiative in terms of improv- -
ing the Bahamian experience, but you will see them
slowly,” he’said.

He will visit China in mid-November for the first
time in his capacity as tourism minister with the
aim of promoting the Bahamas as a part of a com-
bination destination for Asian travellers.

“The idea of Chinese travelling (as) it’s a very
long distance to come exclusively to the Bahamas is
fairly remote. We all do the same thing when we
travel long distances, you tend to visit multiple des-
tinations so you have an increasing number of peo-
ple from China travelling to this part of the world on
business and leisure and to work with those com-
panies that are making arrangements for those peo-
ple to add the Bahamas to the combination.

“And that’s what you’ll see as one of our main
planks in our new thrust - combination vacations,
and that’s really the premise on which we are build-
ing and history has shown, with Japanese travellers
in particular, that that’s by far the best route to fol-
low.”

FROM page one

A formal ground-breaking
ceremony was held to announce
what was declared to be the
commencement of the project
in July, 2006, at which a variety
of voices from the Bahamian
sporting community expressed
their excitement about what the
stadium would mean for sport
in the country. However,
progress stalled thereafter.

Minister of Youth, Sports and
Culture, Desmond Bannister,
yesterday told The Tribune that
it is anticipated that the heavy
equipment needed “will take a
month to get here and that
shortly after that month the
construction is going to start.”

As to the size of the multi-
use ‘stadium, the minister said
it would be “adapted for
Bahamians” and therefore
smaller than that initially
planned (30,000 seats), but still
“the most fantastic stadium in
the region.”

Bank
Financing
Available

on the

Spot

Stadium

He said: “It’s going to be one
that you will be very proud of
and you will see that in the first
six months of my term in office
(ending December, 2008) I’m
going to make sure that gets
started. Hold me to that.”

The Tribune understands that
some of the delay in moving
ahead with the stadium under

the FNM government came

about as a result of time needed
by the Ministry of Works to
review the Chinese designs to
make sure they complied with
the Bahamian building code.

The stadium has been a
minor political flashpoint since
the Ingraham administration
came to power in May, 2007,
with FNM ministers blaming
the former Christie government
for its failure to materialise
according to schedule. |

In July this year, culture min-
ister Charles Maynard claimed

the delay in moving ahead with
the project was because “it took
(the FNM) this long to clean up
the mess (the PLP) had left in
place.”

He said: “This is one of the
most mismanaged programmes
ever in my opinion and it falls in
the lap of the former prime
minister himself.”

Mr Miller said completion of
the proposed stadium will mean
that sports like baseball and
softball, once played at the
Andre Rodgers and Churchill
Tener Knowles stadia, will have
a “decent home.”

“We can have one big sport-
ing centre that could be the
sporting mecca for The
Bahamas,” said Mr Miller.

Both stadia were demolished
in 2006 to make way for the
new project, an act which for-
mer Minister of Youth and
Sports Byran Woodside
denounced as premature in light
of delays in progress in com-
pleting the new venue.

Ord Party
Insurance

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THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 9



Residents collecting litter to
‘Keep Grand Bahama Clean’ |

@ By DENISE MAYCOCK
Tribune Freeport Reporter

dmaycock@tribunemedia.net

FREEPORT — The ‘Keep
Grand Bahama Clean’ campaign
is catching on among residents
as they participated in a special
litter collection initiative on Sat-
urday morning in the city of
Freeport.

A large number of residents
took to the streets at 7am on Sat-
urday, collecting roadside litter
in the areas of Pioneer’s Way,
Frobisher Drive, Raleigh Drive,
Shackelton Drive and West Mall.

The route ended at the Grand
Bahama Port Authority Build-
ing on the Mall, where partici-
pants were treated to a bag of
treats and refreshments for their
hard work.

mental manager at the Grand
Bahama Port Authority, said she
hopes that the event will influ-
ence others to do the same in
their communities.

“This is the second anniver-
sary of the ‘Keep Grand Bahama
Clean’ initiative. It is the first
time we are doing this and it is
almost like a pilot to see if we
can do it in other areas as well.

“From this experience, we are
hoping to take it to other areas
and for other people to see and
mimic. We hope it catches on.
We: are hoping we are able to
impact the entire community,”
said Ms Wilchcombe.

A purple trailer also accompa-
nied participants along the route
and broadcast public service
announcements telling residents
in the area of the importance of

“We know culturally our peo-
ple like music and we wanted first
of all to encourage residents with
sounds to come out and join the
initiative,” Ms Wilchcombe said.

“The overall initiative is catch-
ing on, but there is still a lot of
work to do and sometimes peo-
ple get complacent because
Grand Bahama is so clean.”

Ms Wilchcombe said that indis-
ctiminate dumping is a problem
in Grand Bahama, more so than
littering, as the Port Authority
has a constant system of picking
up garbage.

She said persons are dumping
old refrigerators and other appli-
ances which can be picked up
free charge for residents who pay
service charges.

“The problem of indiscrimi-
nate dumping is of particular con-

es a magnitude we cannot handle
we want to address it,” she
said.

“We want to make a special
appeal to contractors and busi-
ness persons because we are find-
ing a lot of shingles and other
materials used in construction
and renovations dumped in areas
they think no one would see.

Ms Wilchcombe is appealing
to everyone to join the ‘Keep
Grand Bahama Clean’ move-
ment. She said the message has
been taken to the schools and
civic organisations in the com-
munity.

“We are spreading the mes-
sage that it is everyone’s business
and everyone’s responsibility to
keep Grand Bahama clean
because our economy and
lifestyle depends on a healthy

Nakira Wilchcombe, environ-

keeping the environment clean.

cern to us, and so before it reach-

environment,” she said.

Andros farmers get support from Lucayan Tropical

LUCAYAN Tropical Produce has agreed to
purchase 400 cases of green peppers from North
Andros farmers each week for the remainder of
the season, sales manager Roger Rolle
announced.

“Once we have this worked out, then we will
move on to other produce as well,” he said.

Bahamas Agriculturat and Industrial Corpo-

ration (BAIC) executive chairman Edison Key:

said he was, “very encouraged” by the move.

“We see Andros not only as a breadbasket of
the Bahamas, but also as providing opportunities
whereby Bahamians can earn a decent living,”
he said.

“If we can get a handle on agriculture - feed-
ing ourselves and catering to the millions of
tourists who visit us each year - we would wipe
out unemployment.”

Lucayan Tropical, operators of an extensive
hydroponics farm in New Providence, is pro-
viding farmers with seedling.

North Andros farmers haison officer Eric —

Lightbourne and Lucayan Tropical are working
together to formulate a plan to ensure stag-
gered harvests, said Mr Rolle.

“We do not want a glut and we do not want a
situation where everyone has it for three months
and then stop. We are working on consistency,”
he said.

“We will move the product to New Provi-
dence where the market can absorb it quite eas-
ily. We will pay for the shipping. We will provide
the packaging, and we will sell it. We just need
farmers to grow it consistently.

“We will use the same grading standards that
the US uses for Peppers, so the quality will be

good.”

Rather than denendine solely on the govern-



Gladstone Thurston/BIS

BAIC EXECUTIVE chairman Edison Key (right) and his team inspect a field of green peppers in North
Andros. Pictured from left are BAIC general manager Benjamin Rahming; Lucayan Tropical Produce

sales manager Roger Rolle; North Andros Farmers Association president Cecil Gaitor; farmers liaison
officer Eric Lightbourne, and domestic investment officer Alphonso Smith.

ment’s packing houses to purchase their prod-
ucts, BAIC has been encouraging farmers to
work directly with New Providence buyers.

“We have visited the farms, we have seen
the product, we see the potential,” said Mr
Rolle.

“We realise that they need some assistance
especially in organising.

“This model of the 400 cases of green peppers
we are going to take every week 1s just a start.
Once we have this worked out, then we will

move on to other produce as well.

“We will give them a fair price because we are
all in the business of making money. We do not
intend to exploit one another. It is a co-operative
and I know that we can make it work.”

North Andros Farmers Association presi-
dent Cecil Gaitor said they were grateful to
BAIC and Lucayan Tropical and other buyers
“for their expression of confidence in us.”

“We will do the very best we can to produce
the finest product,” he said. :

') Bethel Brothers Morticians

Telephone: 322-4433, 326-7030
Nassau Street, P.O. Box N-1026





"Le Nikki
Alanna
Lashley, 24

of Poinciana Avenue, Skyline
Heights will be held on
Thursday October 30th, 7:00
p.m. at St Christopher's
Anglican Church, Lyford Cay.
The Venerable Archdeacon Keith Cartwright assisted by Fr. Peter
Scott will officiate.















Funeral Service and Mass of Thanksgiving will be held on Friday
October 31st, 10:00 a.m. at St. Christopher's Anglican Church,
Lyford Cay. The Venerable Archdeacon Keith Cartwright assisted by
Fr. ‘Peter Scott will officiate. Interment will follow in Woodlawn
Memorial Gardens, Soldier Road






Lia was born in Nassau on July 3rd, 1984. She attended Tambearly
School and St. Augustine's College in Nass‘au, The Madeira School
in Virginia, Emory University in, Atlanta and was a medical student
at the University of the West Indies in Jamaica. During these years
she impacted the lives of her family and her wide circle of friends in
a meaningful and enduring way, She was loved greatly and gave
great love in return. Lia died on October 23, 2008 in Kingston,
Jamaica and will be remembered with love by so many, including her
parents, Charles and Toni; her brothers, Brett and Ryan; her Grand
parents, Sir Orville and Lady Turnquest and Adeline Lashley; her
uncles and aunts, Edward and Michele Fields, Tommy and Shawn
Turnquest, Jimmy and Marise Lashley, Ramon and Debbie Lashley,
Deanna Lashley and Jacqueline Lashley; her cousins, Carey, Robert
and ErinTurnquest, Candace Fields, Andre Lashley, Anthony
Lashley, her housekeeper Iris Gayle, her Godmothers Elma
Campbell and Katina Mezulanik; her special friend, Kenneth
Ingraham; her dog, Kalik; her grandaunts and granduncles Basil and,
Bobbie Sands, Gurth and Beverly Ford, George and Fredericka
McCartney, Carver and Veronica Grant, Jean Turnquest, Archbishop
Patrick Pinder, Sammy and Gayle Pinder, Alfred and Vivian
Braithwaite, Nicholas Braithwaite, Hyacinth Braithwaite; her sisters
of the heart, Muna Issa, Kelley Knowles and Krista Nottage; adopted
parents, John and Aida Issa, and Ronnie and Gvyen Knowles; ~
adopted brother. and sister, Chris and Zein Nakash and their children
Jordan and Au. Lia was blessed to have a large extended family and
a great number of friends from all of the many paths she travelled,
all of whom will cherish her memory.





























Friends may pay-their last respects at Bethel Brothers Morticians,
Nassau Street on Thursday from 10:00 a.m. to 5:00 p.m. and at the
church from 6:00 p.m. until service time, and on Friday from 9:00 a.
_ m.until service time.




SANPIN MOTORS & PRE-OWNED BAHAMAS

‘



WILL BE CLOSE!



Wednesday Afternoon October 29th at 1PIM

To Attend The Memorial of

Past Sales Manager for 28 1/2/ years

The Shareholder, Directors,

Management

and Staff send their sincere sympathy to
Donna, his wife; Ricky, his son; and
Michelle. his daughter;-daughter-in-law

Marlene; granddaughters,

brothers, sisters,

step-mother, Margaret Fox of Hope Town
Abaco as well as all family & friends.


‘

PAGE 10 WEDNESDAY, OCTOBER 29, 2008 ; THE TRIBUNe

COMIC PAGE

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Matthew Turner v David Haydon,
Brentwood Open, 2008. White

(to play} was a grandmaster,

Black a county amateur, and

on this occasion there was no
giant-killing. Several white

pieces are already aimed at

the vulnerable black king, and
Turner's next move ensured a
decisive advantage. With these
clues, spotting what White played
should be easy and the real test is
whether your chess vision is acute
enough to work out the virtually
forced resulting sequence which
gained significant material. Can
you find White's winning idea?

ess aed BLA queen falls,



Chess: SAT: 1 Ree6t Kone6 (it Qxe6 2 OxdS wars
the queen) J BadSe Qed PRele Kb A Bg3+ KES









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j taken with permission (5) 7 Collect more pay (5)
j j ic i 8 A flashy edifice (10 : ; mais eee
T 197-Diue: possibly oceanic (n Z io East dealer. that his best source of tricks lies in
| opin oie Actors. TEMG BICSs East-West vulnerable diamonds
17 Strong blow wrenched a 7 SO ere Started aot
W door ae off (7) hard (4-4) ; i NORTH Ordinarily, declarer would handle
| 49 Drop of French +4: Bill. gels.a’ medical quallti- 4Q 1096 this particular diamond combination
0 perfume (7) cation of a college (10) ¥962 by first cashing the ace and then the
eZ 21 See sign is incorrect for a 16 A visionary transaction is #K 104 king, But observe what happens if
: start (7) included in it (8) PASS South follows that procedure in the
I 22 There’s some point ina 18 | stay true to the principle WEST EAST present case. He can no longer score
story having one (5) of self-denial (9) nerees Gewa @KI873 2 all his diamonds, and cannot score a
N 24 Raises to a higher state, 20 Three times surrounded a Lu VATS4 ¥QI108 fourth diamond trick without surren-
/ 1 but sala no nubarahawstosn(hy ~< 1 Suave (4-6) 1 Identical (4) 07 $1963 dering one to East first. East would
os essin ‘ i 43 ae SGueen othsarts
ene rai nadear nel 21 Non-specialist officer (7) N 6 Blow with whip (4) 2 Agitator (9) 162 ak #01043 then return the queen of hearts to put
Q ; . 10 Worth (5) 3 A fight (3-2) SOUTH the contract down one.
drinks? (4,5) 23 Man who may impose a — g @A54 To prevent this from happening
28 African port bar that is rigid measure? (5) Oo. 11 Attempt (9) 4 Daunt (7) oe a Ae Nees
N smashed up (5) bes biome 12 Annul (8) VÂ¥K3 declarer should cash the king of dia-
S209 Oh OW =IING > ; 5 Incessant (7) #AQ852 monds at trick two and next lead the
E 29 The temptation of row (5) wn 13 V-shaped cut (5) : . ‘ Dp i
misrule (4) ete P 7 Take up (5) &K9O7 ten, planning to finesse if East fol-
< “B0. ‘its said to- bs praiaa tor 26 Pole getting into corrupt og 15 To fancy (7) 8 Unsentimental (4-6) The bidding: lows low! This approach guarantees
good sportsmen (4,6) company (4) Lu 17 Staying power (7) 9 Assert (8) East South West North — the contract even if West wins the
C 19 Crowded closely 14. Arbitrary (4-6) Pass INT Pass 2NT trick with the jack. (South would
: : ‘ rbitrary (4- mae aN an enarark . : ‘i
R Yesterday’s Cryptic Solution Yesterday’s Easy Solution together (7) yf Pass 3 NT ; then score four diamonds, two clubs
21. Authentic (7) 16 Deceptive (8) Opening lead — seven of spades. and three spades after conceding a
O Across: 1 Slapped, 5 Baste, 8 Across: 1 Chaotic, 5 Grasp, 8 Out u tes 18 Going from place to trick to West’s king.)
Ascertain, 9 Amp, 10 Kids, 12 of hand, 9 Tot, 10 Dash, 12 22 Protection (5) place (9) Tactical considerations are often Of course, if East covers the ten
S Chastise, 14 Distil, 15 Remiss, 17 Stubborn, 14 Repeat, 15 Mutiny, 17 24 Take responsibility ‘ ; more important than technical con- — with the jack, South wins with the
| Isotherm, 18 Myth, 21 Ego, 22 Probable, 18 Myth, 21 Opt, 22 for (8) 20 Notwithstanding (7) siderations. This means, for example, queen, thus assuring five diamond
S Repairman, 24 Straw, 25 Liberty. Guatemala, 24 Terse, 25 Earthly. 27 Deviation (9) 21 Adult (5-2) that it may not always be right to — tricks whether West follows suit or
Ww Down: 1 Smack, 2 Arc, 3 Port, 4 Down: 1 Crowd, 2 Act, 3 Tuft, 4 Bese easel 23 Auctioneer’s make the theoretically best play ina not.
| Deaths, 5 Bandsmen, 6 Stability, 7 Crafty, 5 Gadabout, 6 Authority, 7 eae oe hammer (5) given suit combination; rather, it may In adopting this line of play,
O Express, 11 Dishonour, 13 Withdraw, Potency, 11 Supporter, 13 buccaneer (5) aie be more important to try to find the — declarer reasons that he is virtually
14 Drivers, 16 Propel, 19 Handy, 20 Harangue, 14 Rapport, 16 Please, 29 At the proper time (4) 25 Stay temporarily (5) overall best play in that particular — certain to make the contract by cash-
R Limb, 23 Mar. 19 Hoary, 20 Tear, 23 Ash. 30 Inveterate (4-6) 26 Take care of (4) hand, ing the diamond king at trick two. It
Consider this deal where West — is a safety play that ensures at least
D leads his fourth-best spade. Declarer four diamond tricks and three



Wins with dummy’s nine and sees .

hotrump, come what may.

(2008 King Features Syndicate Ine,
THE TRIBUNE
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der der takes on Trucking”
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Tusades

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TBS loses car in park- rae of Payne tes of Payne tae of Payne Hess of Payne House of Payne |House of Payne
ing garage. Janine's news, |Cheerleading. {Stolen car. College reunion. |Bad language. |Camping trip.

Jon & Kate Plus Jon & Kate Plus /Jon & Kate Plus |Jon & Kate Plus 8 “Jon & Kate —_|Six for the Road |Six for the Road |
TLC 8 “Wild Horses” |8 Packing for 18 Twins away at |Family Movie Night” The Goss Dissecting a frog. |*Zip It!” (N) |
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a TNT. der “Hands Free” |tackles spousal confidentiality in gay|hunter is found dead in a mote Green discover a money-laundering
a marriage. ( (CC) (DVS) room. (CC) (DVS) _|scheme. (CC) (DVS) .

Star Wars: The |Goosebumps [Goosebumps |Scary Godmother Halloween Scary Godmother: The Revenge |
TOON Siete [eg (Cc) Spooktakular of vimmy .

Cops “Virginia {Most Shocking Ajilted husband — /Most Daring “Fighting Back 2” (N) |Most Shocking “Fights & Wild Riots
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Sally Field. ‘R’ professional wrestler. 1 ‘PG’ (CC) Showcase (Jeff Anderson. 1 'R' (CC)





















(:00) CSI: Miami |Dog the Bounty |Dog the Bounty Hunter ‘Felons In-|Dog the Bounty |Parking Wars “The Lost Pilot” Park-
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WEDNESDAY, OCTOBER 29, 2008, PAGE 11

F

Let Charlie and
Bahamian Puppet and
his sidekick Derek put,

some smiles on, your



kids’s faces.

Bring your children to the
McHappy Hour at McDonald 's in
Malborough Street every Thursday
from 3:30pm to 4:30pm during the
month of October 2008.

Enjoy Great Food, Prizes and Lots of Fun

{T\

i'm lovin’ it

S)


PAGE 12, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



INTERNATIONAL SPORTS

Federer to play against Zee
interview

US in ‘09 Davis Cup

._& By GRAHAM DUNBAR
‘Associated Press Writer

GENEVA (AP) — Roger Federer ended
speculation over his Davis Cup plans Tues-
day and announced he will play for Switzer-
land against the United States next March.

It will be the first time in five years that
the 13-time Grand Slam singles winner has
broken up his early season schedule for the
Davis Cup.

"I am excited to once again join my fel-
low Swiss teammates, who I have a great
friendship with," Federer said on his Web
site. "I look forward to what I am sure will
be a tough weekend."

The World Group first-round series will
be played:March 6-8 in the U.S. at a venue
to be chosen by the United States Tennis

Association in the next six weeks.

Federer helped Switzerland rejoin the
elite World Group when it beat Belgium
last month.

He beat Kristof Vliegen in straight sets,
then teamed up with Stanislas Wawrinka,
his Olympic doubles gold medal-winning
partner in Beijing, to win their doubles
match.

Victory

Federer last played a Davis Cup first-
round match in 2004, a victory over Roma-
nia in Bucharest.

"We are obviously very pleased that he
decided he will be joining the team," Swiss
Tennis spokeswoman Sandra Perez said.
"That increases our chances."

- Swiss officials were hopeful Federer
would face the U.S. because his tourna-
ment schedule takes him to California
immediately after the Davis Cup for the
March 9-22 Indian Wells tournament.

"Probably if we were playing the tie in
Australia that would have been a little bit
more difficult," Perez said.

Switzerland and the U.S. have a 1-1

record in Davis Cup meetings.

In 2001, Federer won three points —
including singles victories over Todd Mar-
tin and Jan-Michael Gambill when
Switzerland beat the United States in the
first round in his home city, Basel.

The U.S. beat the Swiss in the 1992 final
at Fort Worth, Texas, with Andre Agassi
and Jim Courier playing singles and John
McEnroe and Pete Sampras in doubles.





M Jones

CHICAGO (AP) — Dis-
graced track star Marion Jones
will give her first post-prison
interview to Oprah Winfrey.

Jones' appearance on
Wednesday's episode of "The
Oprah Winfrey Show" is to be
her first interview since she
was released September 5
from a Texas federal prison
after completing most of her
six-month sentence for lying
about steroid use.

Jones tells Winfrey that it
jveent difficult for her to





return the three gold medals
she won in the 2000 Sydney
Olympics.

She says "it's the memory
that will be tarnished."

Jones also is to read aloud a
letter to her children that she
wrote from prison.

The sprinter admitted last
October that she used a
designer steroid known as "the
clear" from September 2000
to July 2001.

Her admission came after
years of denials.



Same-old Pistons insist
they'll be different

& By LARRY LAGE
AP Sports Writer

AUBURN HILLS, Mich.
(AP) — The Detroit Pistons are
getting one more chance to
return to the NBA finals for the
first time since 2005 despite
threats that the familiar cast was
going to get broken up.

Rasheed Wallace insisted he
wasn't worried about the possi-
bility of getting traded, but he's
thankful to have another shot
to make a run with Chauncey
Billups, Richard Hamilton and
Tayshaun Prince.

The quartet helped the Pis-

‘tons win a championship in:2004

and with Antonio McDyess the
next season, they fell just short
of repeating.

Since then, Detroit has been
eliminated in Game 6 of the
Eastern Conference finals each
year.

"We've been together for so
long," Wallace said. "We've
been to the mountaintop.
Sipped the juice. Fell off the
mountaintop."

Wallace and Co. will start
_ what they hope will be a climb
back to the top Wednesday
night at home against the Indi-
ana Pacers in the opener for
both teams.

When the Pistons fired coach
Flip Saunders in June follow-
ing his third straight exit in the
conference finals, Joe Dumars
publicly put everyone on the
roster — other than Rodney
_ Stuckey — on the trading block.

Even though the team presi-
dent of basketball operations
didn't end up finding a deal that
made sense to him, he insists
these won't be the same-old Pis-
tons.

"Our core guys are back, but
we'll be different," Dumars said
in an interview with The Asso-
ciated Press. "We're going to
incorporate young talent, and
we've added a new, young
coach."

The Pistons promoted one of
Saunders' assistants, 40-year-
old Michael Curry.

Curry played with Dumars a
decade ago, and Billups, Hamil-
ton and Prince were teammates
during the 2002-03 season.
Toward the end of Curry's play-
ing career, he led the NBA
players’ association and later
had leadership roles within the
NBA and its developmental
league.

"Patience is always going to
be my toughest thing to do,"
Curry said. "Being able to lead,
communicate and knowing the
game are things I've always
been real comfortable with."

The Pistons are trying to plan
for the future while still trying
to win now by putting 21-year-
old Amir Johnson in the start-

" zlies and was lackluster this pre-

-slipped too far because we got

ing lineup, taking 34-year-old
Antonio McDyess' spot in the
frontcourt. They're also count-
ing on 25-year-old Jason Max-
iell and second-year pros Stuck-
ey and Arron Afflalo to play
key roles in a nine-man rota-
tion.

Kwame Brown, the No. 1
pick in 2001, is getting a chance
to revive his career as an occa-
sionally used reserve instead of
a go-to player. |

"He needs to be a player
that's coming more into the mix
as Opposed to being the main
cake," Wallace said.

*. It seems wise for the Pistons
to avoid banking’on much from
Brown — who will make $4 mil-
lion next season — because he
averaged just 4.8 points a gamie
last season with the Los Ange-
les Lakers and Memphis Griz-

season.

"I can't make any excuses,"
Brown said. "I just know what I
can do moving forward."

The Pistons are trying to
avoid a look-back, but they do
regret losing the past three sea-
sons to the eventual champion
Boston Celtics; runner-up
Cleveland Cavaliers and title-
bound Miami Heat in the con-
ference finals.

"We've gotten too loose and
lax over the course of the sea-
son and then when we tried to
tighten things up. Things had

too comfortable," Billups said.
"I hope the difference this year
will be that things won't slip
because we'll hold people
accountable all season." '

Curry insists he simply will
sit players who don't play hard
consistently. He also will try to
keep them in check on and off
the court with a list of rules, |
starting with one that doesn't
allow excuses.

"We think Michael will bring
discipline and accountability to
this group of guys," Dumars
said. "That's something we feel
like we needed going forward."

Detroit has-won the Central
Division title the past four years
and in six of the last seven sea- .
sons — winning at least 50
games since the 2001-02 season
— under Saunders, Larry
Brown and Rick Carlisle.

The Pistons have advanced
to six straight conference finals,
the first franchise to do that
since the Los Angeles Lakers
went to eight in a row in the
1980s.

But the franchise also is just
the first in more than a half-
century to lose in the round just
before the NBA finals three
years in a row.

"The expectation is to make
it to the NBA finals," McDyess
said.

DETROIT PISTONS’ Tayshaun Prince (22)



« » Qwvr

As aw;

preseason game in Auburn Hills, Michigan...





takes a shot against Atlanta Hawks’ Josh Smith in the first half of a

DETROIT PISTONS’ Amir
Johnson (25) blocks a shot
by Cleveland Cavaliers’ J J
Hickson in the first half of a
preseason game...





Texas says fight that put boxer in a coma was lawful

AUSTIN, Texas (AP) —
The fight that left San Antonio.
boxer Oscar Diaz in a coma
for two months was conducted
within state laws and rules,
according to a state report
released Tuesday.

The Texas Department of
Licensing and Regulation said
the referee, ringside physicians
and emergency technicians
also performed their duties "in
accordance with all laws and
rules pertaining to combative

sports."

Diaz couldn't leave his cor-
ner before the 11th round of a
fight against Delvin Rodriguez
in San Antonio in July. Refer-
ee Bobby Gonzalez stopped
the fight and immediately

called for medical help when
Diaz couldn't respond to his
questions, according to the
agency's report.

After being transported to a
hospital, Diaz was sedated and
given a breathing tube, the

report said. He later under-
went emergency surgery to
ease swelling on his brain.

Diaz came out of a coma
last month, and boxing pro-
moter Ron Katz said his
recovery continues.



WADA
Satisfied
It has |
received
all test
results

@ By STEPHEN WILSON
AP Sports Writer

LONDON (AP) — The
World Anti-Doping Agency
said Tuesday it has now
received the results of the 300
drug tests from the Beijing
Olympics that it had previously
reported as missing.

WADA's team of indepen-
dent observers had noted the
missing results in their final
report on the Beijing drug-test-
ing program earlier this month.

The International Olympic
Committee said the mix-up was
due to a "communication prob-
lem" between the Beijing lab
and the observers, and that all
the results had been traced and
later sent to the WADA team.
All those tests were negative. _

"The IO (independent
observer) team is now satisfied
that it has in its possession,
results for all of the in-compe-
tition tests conducted in Bei-
jing and’ that all outstanding
issues have now been clarified,"
WADA said in an addendum
to its report issued Tuesday.

WADA said the biggest
group of missing test results,
about 180, were for EPO con-
trols. It said there had been a
misunderstanding over the Bei-
jing lab's indication that those
results would be included in
separate reports.

An additional 117 test results
not received in Beijing were
provided in lab reports dated
Oct. 15-18, with another 17
results for testosterone report-
ed to WADA on Oct. 15-16.

Also, the observers had mis-
takenly asked for EPO test
results on about 32 samples
which were not analyzed for the
blood-boosting hormone,
WADA said.

"The IO Team has now con-
cluded the review of all results,.
can confirm receipt of every
sample it thought to be out-
standing and that all test results
were negative," WADA said.

To avoid similar confusion in
the future, WADA recom-
mended the use of a secure
computer database system to
handle drug-test management
issues at the Olympics.

The observers monitored all
elements of the doping control
process in Beijing, where the
IOC ran the biggest drug-test-
ing program in Olympic history.

Among their key findings
was that 102 of 205 countries
competing in Beijing failed to
provide organizers information
about their athletes’ where-
abouts so they could be tested
out of competition.

Six athletes were disqualified
for doping offenses during the
Olympics, and three other cas-
es are still pending.

The LOC plans to retest Bei-
jing samples for traces of
CERA, the new blood-boost-
ing drug that was recently
detected in the samples of four
cyclists from the Tour de
France.
OCTOBER 29, 2008, PAGE 13

AY,

WEDNESD

THE TRIBUNE

SPORTS



*

Cobras player in action yesterday.
The Cobras defeated Anatol

BALL FOCUS — A C C Sweeting

10

GSSSA act

igh in straight sets...

Rodgers H





Wh”

i‘ ea Reo ee player ie inte Oy-| aT) eee Vlas Reca ny fr | Gibson ce a

Maa

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Uf

GETTING IT OVER — AC | Gibson Rattlers player digs the ball...






TRIBUNE

‘THE

Same-old
Pistons insist






2008

WEDNESDAY, OCTOBER 2.9,

CC Sweeting Cobras ‘bite
up’ GSSSA newcomers |

ee | CI Gibson

sana «| «Rattlers beat
ve R M Bailey

Pacers







Boxing
club shows
‘diamonds

in the

rough’

lm By RENALL!O DORSETT
Sports Reporter —

ONE of the most well
established shows on its cal-
endar, Champion Amateur
Boxing Club showcased a few
of its “diamond; in the rough”
while honourirg one of box-
ing’s local legends.

The 15th Arnual L Garth
Wright Golden Gloves pro-
duced several unlikely upsets
and introduced the boxing
community to several fighters
billed as up and coming
impact fighters

Relative newcomer Maxene
Lexcima was nemed the Most
Valuable Boxer of the tour-
nament after winning his
headlining Light Heavyweight
bout over Tam:ko Stubbs via
a third round knockout.

Ray Minus Jr, tournament
organiser and “ABC execu-
tive, said Lexcina thrilled the
crowd with hs adept skill
despite his inex perience.

“He really displayed great
boxing skills for any fighter,
especially after only working
out in the sports for six
weeks” he saic. “He was up
against a really experienced
boxer and jus’ flat out dis-
mantled him, especially
through the use of his jab.”

Minus said Lexcima’s debut

fight was such a hit that“he
has alfeady been. named. to
appear in the main event of
the club’s next show and
received an endorsement from
the country’s history-making
Olympian in the ring.

“Everyone was very
impressed with how well he
looked in the ring,” he said.

~“Taureano Johnson was on
hand in the crovvd and he said
he could not believe that Lex-
cima just recently started box-
ing. He said he found it
extremely impressive and it
was the best performance of
thé night.”-

Richard Shelton, named the
tournament’s Most Improved
Boxer, scored a stunning
upset with his three-round
decision over F.udolph Polo.

The Best Fight of the Night
went to the bout between
Rotarvio Addezley and Jevon
Cornish. Adderley secured
the three-round decision.

Minus Jr said the fight
added an additional flair to
the card with a high impact
match between even fighters.

“There was excellent talent
in this fight and high aggres-
sion maintained throughout
the fight,” he said. “There was
a little more intensity from
start to finish ind Adderley
dug deep to pu'l off the upset
against a more experienced
fighter.”

Other results on the card
included Cleveland McPhee
over Judson Joseph, Don
Rolle over Kevin Sullivan,
Charles Sweeting over’
Michael Bethel, Apprecio
Davis over Andino Simms,
Jermaine Bain of Christopher
Major, and Ras vield Williams
over Valentino McPhee.

Minus said the event’s his-
tory and prestige continues to
make it one of the club’s most
anticipated tournaments.

“Over the years the tour-
nament has produced won-
derful talent and most-of the
big name boxers you see












@ By RENALDO DORSETT
Sports Reporter

he C C Sweeting Cobras

delivered a less than

friendly welcome to Ana-

tol Rodgers High, who
made their GSSSA senior girls vol-
leyball debut yesterday.

The Cobras routed the league’s
newcomers in straight sets 17-8, 17-8
at the D W Davis Gymnasium.

Before an eager crowd of sup-
porters awaiting an opening day win,
Anatol Rodgers played inspired,
which led to an early 8-8 tie.

However, the Cobras reasserted
their dominance and ended the set
on a 9-0 run.

In the second set, the Cobras
would not allow Anatol Rodgers to
come within five points at any point
‘during the set... ;

C-C Sweeting led 10-4 early and
their‘opponents had much trouble
returning serves from Cobras’ cap-
tain, Keisha Thurston.

Thurston applauded her opponents
initial effort and noted improvements
her team must make to reach their
ultimate goal.

“I thought it was a good game,
especially with them being a new
school and all, they actually did pret-
ty well,” he said. “I think we did well
as always but there is always room to
do better and to improve. I think we
need to improve on our communi-
cation and our service.”

As for the defending champion C
V Bethel Stingrays and other teams
around the league, Thurston issued a
warning for the remainder of the
year. ©

“Trust me, we’re getting our cham-
pionship back,” she said.

Also yesterday, the late senior girls
game produced a thrilling three set
match between the C I Gibson Rat-
tlers and R M Bailey Pacers, which
remained in contention until Keisha
Burrows came up to serve in rota-
tion.

Burrows served 13 consecutive suc-
cessful points for the Rattlers en
route to a dominating 17-2 third set
clinching win.

The first set produced a contro-
versial finish as the set was mistak-
enly called in favour of the Pacers
as they led 18-17. However, a team
must win by two points or be the first
to reach 19.

The Rattlers used the reprieve to
regain momentum and rallied for a
19-18 win.

The Pacers rebounded from dis-
‘appointment to take a hard fought
second set 18-16 but faltered defen-
sively in the third.

League play continues 4pm today
at the DW Davis Gymnasium.









Dynamos’ 1-0 victory
over the Cavaliers

today like Taureano Johnson,
Jermaine Mackey, Valentino
Knowles and others have
passed through +t early in their
careers” he said.

Phis year we had 17 fights
so it gives boxels a lot of valu-
able exposure and we are
looking forwar | to making it
bigger and bet er from year
to year.”

NT: fas of the Dynamos
Wo Le EMOTO NEI
nts)












CAVALIERS and
Dynamos football clubs went
head-to-head Saturday in a
pre-season scrimmage match.

Dynamos, with a 1-0 victory
over the Cavaliers, found
redemption after they were
shut out 7-0 last year.

Led by coach Carl Lynch,
the under- 11 Dynamos girls
went to work early in the first
half, scoring their first and only
goal during the game’s open-
ing minutes when D’shan
Clarke scored on a strike.

On several occasions, the
Cavaliers tried to answer back
but were unsuccessful due to

the dynamic Dynamos
defense.

Although much smaller in
stature, the Dynamos used
their speed and agility on the
pitch to keep a talented Cava-
lier squad scoreless.

Besides the goal scorer, the
Dynamos received excellent
play from their new goalkeep-
er, Dhuranique Ferguson, who
kept out two penalty shots and
turned away a few attempts.

While the game was only a
friendly, it gave the young
players on both sides more
incentive to train harder in
preparation for the season.
THE TRIBUNE


PAGE 16, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE



RBPF peer leadership seminar focuses on positive change



MINISTER of National Secu-
rity Tommy Turnquest offi-
cially ‘opens the Royal
Bahamas Police Force West-
ern Division’s Peer Leader-
ship Programme on Thurs-

New Providence Community
Centre on Blake Road. Stu-
dents from Westminster Col-
lege and Lyford Cay Interna-
tional School were in atten-
dance.





day, October 23, 2008, the at —

@ BY MATT MAURA

NATIONAL Security Minister Tommy
Turnquest is urging Bahamians to take advan-
tage of all of the police force’s programmes
which aim to positively influence the lives of
young people in this country.

Addressing the launch of the Western Divi-
sion of the police’s Peer Leadership Pro-
gramme, Mr Turnquest said the police force
plays a vital role in youth development with-
in the Bahamas.

The leadership programme is designed to
continue to promote positive change within
the school system and the wider community as
part of the police’s larger focus.

Students from the Lyford Cay School and
Westminster College participated in the
launch. The schools were selected to partici-
pate as a result of their “outstanding record.”

The Lyford Cay School and Westminster
College are the two schools to which the West-
ern Division police units have never had to
respond to because of “any negative type of
behaviour.”

Police officials hope to use that record as-a+

catalyst for further change by urging the stu-
dents within the leadership training pro-
gramme to spread that same model behav-
iour into their communities and among their
peers.

Mr Turnquest that said Thursday’s peer
leadership seminar is only one of the many
mechanisms the police is using, “to build a



“I am particularly
pleased that the '
building blocks the
Royal Bahamas Police
Force is using for its
bridge to the people
and community today
are our young people.”



Tommy Turnquest

bridge of service, trust and confidence
between the organisation and our people, our
youth and our communities for the better-
ment of the Bahamas.”

“Tam particularly pleased that the building
blocks the Royal Bahamas Police Force is
using for its bridge to the people and com-
munity today are our young people,” Mr
Turnquest said.

“This is an approach that recognises how
important youth perspectives are for under-
standing what their role and contribution must
be in the growth and development of our
country,” he said.

BAZAAR
Sat., Nov. Ist.

Minister Turnquest said the seminar fol-
lows up on the mandate of Acting Commis-
sioner of Police Reginald Ferguson for the
force to put initiatives in place that cater to the
youth in the various communities throughout
the Bahamas. That mandate was laid out in
the Commissioner’s Policy Statement, 2008.

Mr Turnquest.said the seminar was
designed to address a variety of issues impact-
ing young people in the country, while pro-
viding them with the additional tools they will
need to be positive youth leaders within their
schools and communities.

“These days we hear a lot about peer pres-
sure, negatively influencing the behaviour of
young people,” Mr Turnquest said. “The
Western Division is putting a positive spin on
peer relationships in this pragramme. It is to
educate youth so that the information and
knowledge they will have at their disposal,
and which they will share with their peers,
will be designed to teach civic and social
responsibility. \

“Much will be expected of you, our young
people as peer leaders,” Mr Turnquest told the
students. “You are expected to be courteous
and tolerant, you are expected to communi-
cate well with your peers and with the police,
you are expected to be young people of hon-
esty and integrity and to be law abiding citi-
zens (and) you are expected to make your
parents, teachers, community and country
proud and to give and get respect from you
peers.” ay

12:00pm to $:00pm ,

bod Thy hae Ot tea Ct
PN teed Ute

~\@ Afternoon Tea - Hosted by The St. Andvew’s Kirk Ladies’ Society from
~_ 3pm to Spm. Tickets are 10.00 each, contact Lesley Cancino to purchase
« your tickets at 393-9335 or lesleycanomac.com

White Elephant Stall

Selling gently used household items, clothing and

toys.

Kits rat

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Hamburgers & Hotdogs

Dous.te Stack
Compo

eh

RMP race tera
DeLuxe Compo

Riku kre ga







(THE

‘bargains’
await in
next 12-18
months

@ By NEIL HARTNELL

Tribune Business Editor

CASH-rich
investors, |
typically
institutions
and high-net Ff
worth indi- |
viduals, could |
“pick up ff
some | bar-
gains” in
Bahamian
equities over
the next 12-
18 months, a financial expert
told Tribune Business yester-
day, with the selling pressure
coming largely from retail
investors.desperate for cash.

Kenwood Kerr, Providence
Advisors chief executive, said
retail investors’ need for liquid-
ity - which in some cases had
caused a build-up.of more than
20 ‘sell’ orders for a particular
stock - was likely to depress the
BISX All-Share Index’s perfor-
mance, and that of other mar-
ket-linked indices such as the
FINDEX.

He pointed out, though, that
the selling pressure was not
being driven by the normal cap-
ital markets fundamentals, such
as company earnings and their
future growth prospects, but the
need “just to get out or cause
~ people to come in and buy their
shares.

Noting that liquidity was
“always going to be a chal-
lenge” in a Bahamian capital
market thinly populated by
investors, Mr Kerr said that
when it came to a timeline for
market recovery: “I suspect it’s
12-18 months from now.”

He added: “The reason that I
would attach to the amount of
retail persons trying to sell is
that persons are feeling this
credit crunch. They need cash,
liquidity, and rather than going
to the bank and having difficul-

ETT ni

SEE page 4B

TRIBUNE





SAARI

WEDNESDAY,

SRW RAVE

OC

By NEIL HARTNELL
Tribune Business Editor

newly-launched
Bahamas-based shipping
~ agency has won the port
k agent contract to service
nival Cruise Lines vessels that

an reveal, a move that has caused
Tn among its rivals due to the
s seeming links with a major
rnational shipping service

nchcape Shipping Services
ihamas) was said by sources to
e been appointed by Carnival as its
B amas port agent on October 23,
ith some competitors ques-

ether the world’s largest



TOBER 29, 2

in this nation, Tribune Business






But competitors concerned —
about seeming affiliation |
with major global shipping
services provider, fearing
its entrance could squeeze i
their business




















cruise line put the contract out to ten- :
der because they were not invited to
bid. =
When contacted yesterday by Tre,
bune Business, Inchcape Shipping Ser-__
vices (Bahamas) general manager, _

SEE page 4B



ROYAL FIDELITY

Money at Work

NASSAU OFFICE

(242) 356-9801

FREEPORT OFFICE
(242) 351-3010



New $100m waste

energy plan revealed

@ By NEIL HARTNELL
Tribune Business Editor

A RENEWABLE energy firm head-
ed by a former Canadian government
minister was yesterday said to have

linked with a Bahamian partner to pro- -

pose a “$100 million-plus investment” in
a New Providence waste-to-energy plant
that will create more than 50 full-time
jobs.

In the latest submission revealed to.

Tribune Business for the Bahamas Elec-
tricity Corporation’s (BEC) Request
for Proposal (RFP) on renewable ener-
gy supplies, GPEC Global (Canada),
which is headed by that country’s for-
mer minister of labour and housing,
Joseph Fonseca, said it had partnered
with Bahamian company, ENERSOL
(Bahamas), for the proposed project.

The partners told this newspaper they
had proposed constructing a waste-to-
energy conversion plant, again at the
site of the landfill off Tonique Williams-
Darling Highway, to produce some 20
megawatts-plus (MW) of electricity per
day that would be sold to BEC.

The plant would have in-built flexi-

Proposal to BEC aims
to create 50 full-time
jobs and supply
20MW of electricity

bility, possessing the ability to process
300, 500 or 800 tonnes of municipal
waste, per day, and create 50 full-time
and “hundreds of temporary” job
opportunities.

GPEC added that the project, if
selected and approved by BEC and the
Government, would - like its competi-
tors - create spin-off opportunities in
areas such as research and develop-
ment, health, housing and education.

The Canadian company would build
the plant, which it said would be oper-
ational no later than 15 months after
the construction start, under a
build/own/operate contract.

“We framed the proposal in order to
address the waste disposal problem and

SEE page 4B

‘Boring’ Freeport a tourist turn-off

@ By NEIL HARTNELL
Tribune Business Editor

FREEPORT'’s hotel and
tourism industry woes are
largely: due to it being “an
extremely boring destination”

* Architect aims to fix city’s lack of attractions with weekend workshop
* Argues that Freeport allowed qualities that first brought i in visitors
to ‘dissipate’ without any replacements

that has allowed the attractions
that first brought visitors there
to “dissipate” without being
replaced, a Bahamian architect
told Tribune Business.

Patrick Rahming, of Patrick
Rahming & Associates, will this
Saturday aim to address this
weakness directly, hosting a
workshop at the Our Lucaya
resort that aims to educate the
private sector on the Develop-
ment of Attractions.

The workshop will feature
presentations by global enter-
tainment industry specialists,
such as Bill Coen and Eric Gor-
don, chief executive and cre-
ative director respectively of
ITEC Entertainment, and

Cable Bahamas in
11.3% profit rise

CABLE Bahamas yesterday
unveiled an 11.3 per cent
increase in 2008 third quarter
net income to $5.872 million,
although the year-on-year
increase was less than the per-
centage achieved for the first
nine months.

While the BISX-listed com-
pany saw revenues increase by 7
per cent to $20.514 million,
compared to $19.161 million,
during the three months to Sep-
tember 30, 2008, this was out-
shone by the 9.3 per cent oper-
ating expenses growth - indi-
cating that rising costs are also
impacting Cable Bahamas’
operations.

With operating expenses
increasing from $9.7 million to
$10.062 million year-over-year,
_ gross profits for the 2008 third



But operating expenses

rise shows cost increases

beginning to bite

quarter rose by only 4.8 per cent
- from $9.461 million to $9.912
million.

With depreciation and amor-
tisation remaining relatively flat,
Cable Bahamas saw third quar-
ter operating income grow by
4.2 per cent to $6.825 million
from $6.548 million.

But, aided by a fall in interest
expense from $709,000 in 2007
to $491,000 this year, and a
$100,000 drop in preference
share dividends, third quarter
net income rose by 11.3 per cent
to $5.872 million, compared to
$5.277 million last year.

Cable Bahamas also spent
$114,000 less on its share repur-

_ chase programme than it did a

year ago, expending $146,000.

As for the year-to-date, Cable
Bahamas has so far shrugged
off the effects of the declining
Bahamian economy, largely due
to the fact that its products are
an ‘essential utility’ - much like
electricity and water - that con-
sumers cannot do without.

Net income for the nine
months to September 30, 2008,
was up 20.4 per cent at $18.777
million, compared to $15.59 mil-
lion in 2007.

Revenues were ahead by 8.3
per cent at $60.903 million, com-
pared to $56.208 million in 2007,
while operating expenses had
increased at a more moderate
pace - by 5.5 per cent to $28.895
million.

SEE page 5B

Nadir Hassan of the New
Orleans Jazz and Heritage Fes-
tival.

Mr Rahming said the work-
shop, which is being sponsored
by the Ministry of Tourism and
the Grand Bahama Port
Authority (GBPA), would also
havea distinctly Bahamian
flavour through an afternoon
session focused on the planning
and development of a Bahami-
an theme park concept.

“We'll take the theme park
idea developed by a Freeport
individual, which at this point is

just an idea, and demonstrate

how to take that idea from the
idea stage to project develop-
ment and the market,” Mr Rah-

ming told Tribune Business.

“I have been doing talks in
Freeport based on my con-
tention that I know how to fix
Freeport. In February, and
again last month, I spoke to the
Rotary Club there on develop-
ing the tourism economy in
Freeport.

“The bottom line is that
Freeport is an extremely boring
destination......... The reason the
hotels are in trouble is simply
that Freeport is a terrible des-
tination. There is no reason for
tourists to go to Freeport.”

Mr Rahming explained that
originally there were three
compelling reasons for tourists
to visit Freeport - golf; themed

Make it ar eality. |

* Pension Plans

* Mutual Funds

* Stock Brokerage

* Corporate Finance

* Investment Management

* Trusts & Estate Planning
* Personal Pension Plan Accounts .

* Education Investment Accounts

AUP

Nassau: 242.356.9801
Freeport: 242.351.3010

BARBADOS
St. Michael:

_royalfidelity.com

ELAS) =1

shopping in the Bazaar; and a

single North African-themed
casino.

However, he said that even-
tually a single casino became

no great attraction in and of

itself, while the themed shop-
ping environment also disap-
peared. While golf was present,
Mr Rahming said it had not
been effectively managed and
developed, nor billed as an
attraction. |

“All the major attractions
have gone through misman-
agement and neglect,” he told
Tribune Business. “Over time,
they've allowed the reasons for
people to come to Freeport to
dissipate without doing any-

z

thing to replace those reasons.” -

In a recent speech to the
Freeport Rotary Club, Mr Rah-
ming contrasted the success
enjoyed by the Freeport Con-
tainer Port, harbour and ship-
ping industries, aided by a well-
defined, clear strategic plan
from Hutchison Whampoa,
with the apparent lack of focus
on the island’s tourism prod-
uct.

Too many in Freeport, he
argued, were focused on the
Port Authority’s health and its
ongoing ownership dispute,
rather than on tourism, which
was the primary source of
employment and business for
many.

ROYAL 3 FIDELITY

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PAGE 2B, WEDNESDAY, OCTOBER 29, 2008

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PON roy 4-1-7 = BAHAMAS.

@ By NEIL HARTNELL
Tribune Business Editor

THE Bahamas’ economic
growth is likely to be “less” than
International Monetary Fund

and 2009, a senior insurance
executive has warned, with this
nation having to “travel a rough
road over the next 12-18
months”.

Chester Cooper, British
American Financial’s president
and chief executive, said that if
the proposed US $700 billion
banking sector bailout, and sim-
ilar measures taken elsewhere,
quickly restored stability in the
global financial system and cap-
ital markets, resulting in a con-
sumer confidence rebound, the
Bahamas “might see some mild

The following persons are asked to contact

STOR-IT-ALL OF NASSAU, LIMITED

in connection with items left in storage:

HATTIE MOXEY

ANTHONY WOODSIDE

ADRIAN MILLER
SHELTON SMITH
JASON ALLEN

ALPIN O. RUSSELL JR.
OLGA TOLER
VALMORE BULLENS
MAJORIE THOMAS
CRYSTAL GLINTON

All rentals must be paid and items removed no later than November 14th, 2008

stor-Iit-all

stor-it-all
Soldier Road

(by Lowe’s Wholesale),
Telephone: 393-0964



PROCLAMATION

WHEREAS, Great Commission Ministries International was founded in 1987 to
. \

assist the poor, the needy and the homeless;

AND WHEREAS, Great Commission Ministries International is a non-profit,

global. non-governmental organization whose mission is to bring reconciliation,

restoration and hope to persons affected by poverty, crime, drug abuse and broken

relationships;

- AND WHEREAS, the non-profit organization has developed invaluable

programmes to assist these individuals;

AND WHEREAS, thousands ‘of persons have been served through the

ministry’s emergency shelters, feeding centre, food bank, clothing distribution

centre, after school homework. and reading centre, counseling centre, drug

rehabilitation programmes and other ministries:

AND WHEREAS, Great Commission Ministries remains committed to assisting

fire and disaster victims and defending the rights of the poor;

NOW THEREFORE, I, Hubert A. Ingraham, Prime Minister of the
Commonwealth of The Bahamas hereby, proclaim Wednesday, 29" October, 2008
as “GREAT COMMISSION MINISTRIES DAY”.

IN WITNESS WHEREOF, I have
hereunto set my Hand and Seal this
day of ayk October, 2008.

fhe digo

HUBERT A. INGRAHAM
PRIME MINIS

Bahamas ‘won’t

(IMF) projections for both 2008

indicators of improvement by
the fourth quarter of 2009”.

While the IMF had down-
graded the Bahamas’ projected
gross domestic product (GDP)
growth from three per cent to
one per cent for 2008, and to
1.2 per cent for 2009, Mr Coop-
er said: “No disrespect to them
as the respected authority on
these matters, but I think it will
be less.

“T suspect 2008 and 2009 will
be a wash - more like 0.2 per
cent at best. This would be
more in line with their very own
projections for the US and
Europe. I therefore do not
expect the Bahamas’ economy
to defy gravity and beat the
odds.”

Addressing the Exuma Busi-
ness Outlook conference, Mr
Cooper said the key economic
indicators for the Bahamas
were not looking good.

On the unemployment front,
the percentage of Bahamians
actively looking for work but
unable to find it had risen to
just under 9 per cent, accord-
ing to the latest Department of

Madeira Plaza
322-7647
Robinson Road
322-3213

7
«| \
fs \
; NS

STO

POM
GC
N

SS
\N

ies cy Colt



Statistics data.

However, discouraged work-
ers - those who had given up
seeking a formal job - account-
ed for another 3 per cent of
Bahamians who were at an eco-
nomically active age, meaning
the real unemployment rate in
the Bahamas was at least 12 per

‘cent.

The tourist-arrivals data was

also gloomy, Mr Cooper said,

with the Ministry of Tourism

THE
LIGHTHOUSE
QUILTERS

5'" ANNUAL
QUILT SHOW

DATES: NOVEMBER_
30 & 31

TIME: |
10A.M. - 5P.M.
PLACE:

THE SALVATION
ARMY

IVANHOE ROAD
(OFF MACKEY STREET)



+ WR ASSS
«
v

SSG
SS X Vs
\

A

THE TRIBUNE

defy gravity’ over growth

reporting total visitor numbers
were down 9 per cent for the
2008 first half, with Exuma off
by 12 per cent.

One consequence stemming
from this was that hotel occu-
pancies were also down, with
many staff working one, two
and three-day work weeks, and
earning reduced incomes. Cap-
ital inflows from foreign direct
investment had slowed to a
trickle, at best, with home fore-
closures steadily rising across
the Bahamas. .

Mr Cooper said Bahamians
should use the next 12 months,
which were projected to be lean _
economically, to re-position and
adjust. He added: “I was not
satisfied that Exuma was build-
ing a sustainable product/desti-
nation. I was concerned. that
there was little or no entrepre-
neurial growth occurring
around the Four Seasons
Hotel.”

“T need not tell you that we’re
headed full steam for one of the
most challenging financial times
that we’ve seen in perhaps most
of our lifetimes,” Mr Cooper

‘added.

“T tell you, however, with
much pain that we’re not at the
bottom yet. My outlook is that
the slight increase in tourist
numbers (compared to August
and September) that we will see
for November’s Thanksgiving,
and the likely surge in spend-
ing that we will see for Decem-
ber, will mask the true extent
of the situation.

“The lean months just after
Christmas will be the true pic-
ture of our plight. If you think
that these are the ‘rainy days’
for which I told you to prepare
for last year, I’m here to tell
you that there are thunder,
lightning, tropical storms and
possibly hurricanes brewing out
there in the Atlantic. Said dif-
ferently, this will get ‘far worse’
before it gets better.”

For the stories
behind the
news, read
Insight on

Mondays

Harbour Bay
393-6923
Marathon Mall
393-4146

OS
REW/I
Monday, 27th October . (@\

thru
Saturday, Ist November


THE TRIBUNE



WEDNESDAY, OCTOBER 29, 2008, PAGE 3B





Ee Sa A a ae
Exuma
resort

has best

Ou iNas
ever

B By Diane.Phillips
For The Tribune

EXUMA’s Grand Isle
Resort & Spa yesterday
reporting its best October
ever, with occupancy up
more than 50 per cent
year-over-year and its full-
service spa in just a few
weeks.

“The results surprised us
a bit, too, given what we
keep hearing in the mar-



ketplace,” said James
Clabaugh, President, of
EGI Ltd, developers of the
condo hotel located steps
from the beach and Greg
Norman Golf Course in
Emerald Bay, Exuma.
“Tam not sure what to

Retailers are

struggling to
make ends meet

@ By CARA BRENNEN-
BETHEL
Business Reporter

BAHAMIAN merchants are
still feeling the effects of a

declining economy through

decreased sales, amid fervent
hopes that the upcoming
Christmas season will end a dis-
appointing year on a higher
note.

One marketing executive for
a ladies retail store said yester-
day that it was not surprising
that there had been a signifi-
cant decline in business.

“I think everyone that you

ask will tell you that things are
bad. I can say from our store’s
standpoint that we are making
just enough to meet our bills
and pay our staff, so we have
been able to stay open, but that
is about it,” she said. “Still, at

' least they are on a full week’s

work, which we hear is unlike
the hotels, who are on short
work weeks.”

The manager preferred to
remain anonymous, saying she
did not want to risk losing any
competitive edge by disclosing
publicly her company’s status.

She said it was becoming
obvious that more and more

Bahamians were heeding the
warnings of the Central Bank
to exercise financial prudence
during these difficult times.

“You know, people are still
shopping, but clothing is not a
necessity like food, and even
with food, people are only buy-
ing the necessities when they
go into the food stores,” ‘the
manager said.

She added that they while
they were hopeful for a good

Christmas, they have been prac- ’

tical in their ordering for the
season.

“You have to be realistic,
because you don’t want to have

to order all these things that |

you will not be able to sell in
December and then have to put
on sale in January and Febru-
ary,” the manager said.

She pointed out that even
with their big annual Septem-
ber sale, the numbers were not
as good as they have been in
previous years.

Set clocks

back this
weekend

WASHINGTON (AP)
— Standard time returns
this weekend, so set your
clocks back an hour Satur-
day night. |

Most Americans will get
an extra hour-of sleep, but
those working overnight
shifts will toil an hour
longer.

It also means some will
forget to change their
clocks, and will show up an
hour early for church or oth-
er events on Sunday.

The time change doesn’t
apply in Arizona, Hawaii,
Puerto Rico, the Virgin
Islands, American Samoa,
Guam and the Northern
Mariana Islands.





NOTICE

NOTICE is hereby given that GARRY BRANCHEDOR of
CROOKED ISLAND STREET is applying to the Minister

‘ responsible for Nationality and Citizenship, for registration/

naturalization as acitizen of The Bahamas, and that anyperson
who knows any reason why registration/ naturalization should

not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 29TH day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CARMELA JEAN OF NO. 12
HIBISCUS STREET, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/ naturalization
‘should not be granted, should send a written and signed
.| statement of the facts within twenty-eight days from the 22ND
day of OCTOBER, 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box GT-2299, Nassau, Bahamas.

attribute it to except word
of mouth and people
appreciating quality. The
tougher the times, the
more discerning those who
can spend become.”
Grand [{sle’s rates are
not for the faint of pocket.
Rack rates start at nearly
$500 a night for a one-bed-
room villa, and climb to
almost $4,800 for a 5,400
square foot, four-bedroom
penthouse. And hotel
executives are most wor-
ried that there will not be
enough seats on planes to
deliver guests who want to
book during the height of
the holiday season through

A leading retailer is seeking applications for the position of

a

HUMAN RESOURCES MANAGER

BASIC REQUIREMENTS



\



* Two years experience as a Human Resources Manager or similar position
* Excellent Oral and Written Communication Skills

* Proven organizational and planning capabilities

¢ Assertive, energetic individual with the ability to motivate others

¢ Strong Interpersonal skills and willingness to be a team player

Spring. when the newly-
expanded wedding pack-
ages are expected to lure
more guests with families
and friends.

“We also have a new
website. which we have
received a lot of compli-
ments on,” said Mr
Clabaugh, “and recently,
we have had several guests |

|
{







check in saying they c chose
Grand Isie after reading
the Teviews on tripadvi-
sor.com.
Tripadvisor.com is a
popular website that posts
frank visitor reviews, fre-
quently more negative
than glowing. But postings
on Grand Isle have been
so positive that, for the
past few years, the hilltop,
oceanfront resort has con-
sistently ranked number
one iit Exuma. Recently,
it moved up to number
two overall in the
Bahamas, ranking second
only to Rock House, a |

nine-room boutique inn in
Harbour island.

Despite Grand Isle’s
success, operating the
resort in a tight leisure
iravel market is a constant |
balancing act between cost
containment and deliver- |
ing quality. |

“Operating a “condo
hotel, where revenue is
split with unit owners, and
saiisfying the requirernents
of a high-end resort means
constant vigilance, partic-
ulariy in this market where
fuel costs are unpre-
dictable, and where resorts
are vulnerable to other
forces driving demand,”
said Shervin Penn, Grand

Isle’s assistant manager.

“We have done some
restructuring, outsourcing
some areas of operations
to Exuma businesses, and
we continue to look for
ways to control expenses
while maintaining the
highest level of service.
Service is our top priority,
so we constantly engage in
training. That’s one area
where you cannot trim
costs. It is ongoing and
essential. Looking ahead,
we would like to think our
biggest problem next year
will be persuading ee
to increase airlift.”

a





¢ Must be multifaceted and prepared to work flexible hours if necessary
: 6

SUMMARY OF DUTIES

e Recruitment of staff

® Monitor disciplinary procedures

¢ Formulate Job Descriptions

* Design and implement training programs
» Administer established procedures

The Successful candidate will become a part of a growing and progressive organization
capable of facing challenges. Benefits include a comprehensive medical and life

package.

Salary is commensurate with qualifications and experience.

Interested persons may forward a copy of their resume, in confidence to: .

. Please submit your resume in confidence to:

The Managing Director

P. O. Box N-623
Nassau, Bahamas



Fax: 322-6607 / 328-5902

OF riser et on Ls

f

The Bahamas Telecommunications Company Ltd. (BTC) is pleased
to invite Tenders for the purchase of miscellaneous obsolete items
including Cables & Accessories, Communication Devices, Fiber
Accessories, General Hardware, Payphone & Accessories, Phones
& Accessories, Power Equipment, Stationary, System Cards and

Tools.

Interested companies/firms may collect a Tender Specification
from the Security’s Desk located in the Administrative building on

John F. Kennedy Drive, between the hours o

o.m. Monday through Friday.

9:00 a.m. and 5:00

The deadline for submission of tenders is Friday, November 7, 2008.
Tenders should be sealed and marked “TENDER FOR THE PURCHASE
OF MISCELLANEOUS OBSOLETE ITEMS” and should be delivered to
the attention of the “Mr. Kirk Griffin, Acting President & CEO,"

BTC RESERVES THE RIGHT TO REJECT ANY OR ALL TENDERS.

www.btcbahamas.com



| to be marked “Exhibit KDS-1 and
Order and the Affidavit in support of the Order.



COMMONWEALTH OF THE BAHAMAS 2007/CLE/gen/00894
IN THE SUPREME COURT
Common Law & Equity Division

BETWEEN
SUISSE SECURITY BANK & TRUST LTD.

(In Liquidation) Plaintiff

AND

MOHAMMED HARAJCHI First Defendant

MICHEL HARAJCHI Second Defendant

SONJA HARAJCHI Third Defendant

CHRISTOPHER LUNN Fourth Defendant

DEREK RYAN Fifth Defendant
AFFIDAVIT. .

I, KERI DAVIDE SHERMAN of the Western
District of the Island of New Providence, one of the
Islands of the Commonwealth of The bahamas, Attorney-
at-law, make oath and say as follows:-

1. That I am an associate attorney at the firm of

Messts. McKinney, Turner & Co., Oakbridge House West
Hill Street Nassau, Bahamas Attorneys for the Plaintiff
and I am duly authorized to make this Affidavit on behalf
of Raymond Winder, the Official Liquidator of Suisse
Security Bank & Trust Limited (hereinafter referred to
as “SSBT”) (In Liquidation), the Plaintiff and I make
this Affidadit in support of the Plaintiff’s prayer that the
injunction granted by this Honourable Court on 13" July,
2007 be continued as against the First Defendant.

3. Notwithstanding many attempts made by Mr.
Claude Toppin, a former Supreme Court Bailiff, to ‘effect
service of fet Weit of Summons on the First Defendant,
including several trips to his usual or last known address
on Paradise Island, Mr. Toppin has to date been unable to
effect service of the said Weit on him. The persons at the
First Defendant's residence always advise that the he 1 is off
of the Island,

4. We were forced to obtain an Order for substituted
service on 2â„¢ July, 2008. There is a roduced and shown
S-2” a copy of the

) 5. The Official Liquidator is fearful that the First
} Defendant may attempt to liquidate his remaining teal

assets in The Bahamas, namely i properties listed in the

| Order granted on 13" July, 2

6. The Plaintiff therefore requests that the injunction
‘| xemain in place until a further Order ts sought to prevent
| the sale of the referenced properties and freeze the assets
' of the First Defendant.

q. That the contents hereof are true and correct to

the best of my information, knowledge and belief.

SWORN TO in the City of Nassau,
New Providence this 22â„¢ day of
October, 2008

a

Before me

NOTARY PUBLIC
PAGE 4B, WEDNESDAY, OCTOBER 29, 2008

BUSINESS

THE TRIBUNE



New $100m waste energy plan revealed

FROM page 1B

the ensuing issues,”
Fontana. “GPEC Bahamas will
be present and very active in
the community for a long time.
Our $100 million-plus invest-

said Mr

ment is fully financed, and
ready to serve.

“It is no secret th. the
Bahamas is proprietor to one
of the wealthiest natural
resource portfolios in the world
on a per capita basis.”

Edward Ferguson,
spokesman for ENERSOL

Legal Notice
Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(In Voluntary Liquidation)

Notice is hereby given that in accordance with Section 138(4)
of the International Business Companies Act, (No.45 of 2000),
CASSEL CORPORATION. is in dissolution. David J. Rounce |
is the Liquidator and can be contacted at 132, Yorshire Street,
Nassau, Bahamas. All persons having claims against the above-
named company are required to send their names, addresses and
particulars of their debts or claims to the Liquidator before 10th

November, 2008 ,

David J. Rounce
Liquidator

NOTICE

INTERNATIONAL BUSINESS COMPANIES BCE
(No.46 of 2000)
. BLUEPRINT MEDIA ENTERPRISES LIMITED
IBC N° 99,272 B

In Voluntary Liquidation

NOTICE is hereby given that in accordance with Section 131 (2)
(a) of the International Business Companies Act No. 46 or 2000,
Blueprint Media Enterprises Limited is in dissolution. .

Any person having a Claim against the above-named Company 1s
required on or before the 25th August 2008 to send their name,
address and particulars of their debts or claim to the Liquidator of
the Company, or in default thereof they may be excluded from the
benefit of any distribution made such claim is approved.

Mrs.. Rosana Hollins of Suite 2B, Mansion Huse, 143 Main Street,
Gibraltar is the Liquidator of Blackthorn Consultants Liinited.

Anniversary Sale!

STUDIO OF DRAPERIES
Saturday Nov. Ist 9am - Spm

FREE Gifts to first 20 Purchasing Customers

‘Double Drapes - $119.00
Double Sheers - $110.00
Triple Drapes - $133.00
Triple Sheers - $123.00

Kitchen Curtain Set - $25.00
Gdthered and Pinch Pleated Valances (Limited



PSO ss
Oe

Supply) - $50.00
Rods - 10% off
Woad Poles - 10% off



S ‘Cash Sales ONLY!
Wulff Rd. Tel: 323-6410



(Bahamas), yesterday told 'Tri-
bune »uoiness that the owner-
ship split - meaning how much
of the plant would be owned by

_ itself, and the percentage of the

shares held by GPEC - had not
yet been worked out.

“The final split hasn’t been
decided yet,” he said. “GPEC
will be providing most of the

funding itself, and we will be _

providing some from this side
as well. We’ll have a significant
stake in the plant. It'll be a very
good opportunity all around the
country for everyone to bene-
fit.”

Mr Ferguson said he was
unable to disclose who the oth-
er shareholders in ENERSOL
(Bahamas) were, but added that
the company was interested in
developing other forms of sus-
tainable, ‘renewaine energy,
such as wind and solar power.

“The thinking is that hope-
fully we can progress on even
further from garbage to wind,
solar, everything if we’re cho-
sen,” Mr Ferguson said, “ as we
have the capability to go into
other areas as well. If we can
get this [the waste-to-energy

plant] established, we will defi-
nitely be able to niave into
those areas.”

Mr Ferguson said “there’s
potential on other islands” such
as Abaco, Eleuthera and Inagua
for solar and wind power,
although no island apart from
New Providence generated
enough municipal waste to fuel
a waste-to-energy plant.

'“For Enersol, partnering
alongside GPEC is a great
opportunity. We intend on
assuming leadership in the area
of renewable energies through-
out the region. We will develop
and enrich existing engineering
know-how and resources, while
supporting scientific, industrial
and social initiatives in the com-
munity,” said Mr Ferguson.

“Our system design is eco-
nomically and technically flexi-
ble. Once implemented, it is a
very transparent and riskless
concept, permitting BEC
options.”

GPEC, meanwhile, said it
had other proposed projects in
Europe, the Middle East and
Latin America, and was cur-
rently working on a waste-to-

energy conversion in Mexico.

The GPEC-ENERSOL
(Bahamas) proposal is the
fourth waste-to-energy propos-
al submitted to BEC that has
been revealed by Tribune Busi-
ness.

Plasco Energy Group sub-
mitted a $100 million proposal
for a six-acre New Providence
plant that will-convert some 400
tonnes of garbage per day into
21 megawatts (MW) of electri-
cal power, an amount equiva-
lent to 5 per cent of BECs cur-
rent electrical needs.

Bahamas Waste is partnering
with Cambridge Project Devel-
opment Inc in the construction
and operation of a proposed
$250 million waste-to-energy
facility for New Providence,
with plans to initially produce
10 per cent cf BEC’s nation-
wide electricity demands and
earn this nation “millions of dol-
lars” from carbon credits.

And a Bahamian consortium
has teamed up with a Califor-
nia-based technology supplier
to submit a $100 million waste-
to-energy plant proposal that
could earn this nation “millions

of dollars”.

That consortium is led by
Ginny McKinney, president of
Waste Not. Apart from Ms
McKinney and Waste Not, the
group’s other shareholders
include other Bahamian waste
industry participants, including
Henry Dean, of United Sanita-
tion, and Wellington Rolle of
Impac.

Some 90 per cent of Bahamas
Renewable Energy Resources’
equity will be held by Bahamian

investors, with a small share-

holding retained by its technol-

~ ogy partner, Carbon Sequestra-

tion, a firm with 36 years’ expe-
rience in alternative energies.

‘Bahamas Renewable Energy
Resources’ directors include
Bennet Atkinson, an accoun-
tant who also sits on FamGuard
Corporation’s Board; well-
known financial adviser Larry
Gibson, vice-president of pen-
sion services for Colonial Pen-
sion Services (Bahamas); con-
tractor Thomas Whitehead;
banker Bruno Roberts, a for-
mer Bahamas Financial Services
Board (BFSB) chairman; and
Larry Smith.

Bahamas-based shipping
agency wins Carnival deal



FROM page 1B

Captain David Hall, was reluctant to com-
ment, repeatedly stating that a press release
on the company’s creation and aims would
be “out very shortly”.

However, he effectively confirmed that
Inchcape Shipping Services (Bahamas) had
secured the Carnival port agency business
when asked by Tribune Business, saying:
“That will be included in the press release.”

Inchcape Shipping Services (Bahamas)
appears to be affiliated in some way with
Inchcape Shipping Services, a global marine
services provider that has some 200 world-
wide offices and serves shipping clients in
the oil, cruise ship, navy and defence, con-
tainer and bulk commodity sectors.

The global company supplies port ser-
vices, machinery services, cargo services,
depots and liner services, plus a whole host
of other functions. .

A search of the Inchcape Shipping Ser-
vices website provides details on Inchcape
Shipping Services (Bahamas), listing its
offices in Nassau and Freeport and staff
contact numbers.

Apart from Captain Hall, the Freeport
office has seven staff and is based at the
Jasmine €orporate Centre. The Nassau
office, headed by port manager Michael
Hall, a former Global United executive,

has a two-strong staff and appears to be
operating from a residential address, as its
office is listed as No. 1 Yorkshire Drive,
Chapman Estates, Cable Beach West, Nas-
sau.

When contacted yesterday, Michael Hall
referred this newspaper to Captain Hall for
comment. When questioned about the con-
cerns rival shipping companies had about
Inchcape’s involvement, and the presence of
a major global player in the Bahamian ship-
ping ageney industry, Captain Hall replied:
“T can’t see why they would be concerned
about that.”

When probed about the nature of the
tie-up between the Bahamian operation
and Inchcape, and whether the latter had
any equity interest in the former, Captain
Hall said: “I -have no knowledge of that,
and I’m 100 per cent Bahamian.”

When asked whether he meant that he
and other Bahamians owned Inchcape Ship-
ping Services (Bahamas), he replied: “Yes,
sir.

Suspicions about foreign ownership it in
Inchcape Shipping Services (Bahamas)
appear to have been fuelled by the fact that
the bank to which payment for the compa-
ny’s services have to be made is the New
York-based branch of Bank of New York,
according to the head office website, rather
than a Bahamian bank.

One shipping industry source told Tri-
bune Business that rival agencies were like-

ly to raise concerns with the Government
over the potential tie-up to Inchcape Glob-
al, the fear being that the Bahamian oper-
ation could exploit the latter’s worldwide .
network and economies of scale to undercut
its Bahamas-based rivals and seize busi-
ness, putting them out of work.

A source, who requested anonymity, said:

“A concern is their ability to undercut
everyone in the Bahamas, as they can sub-
sidise it with the other business they do, or
just wait to put eye yone else out of busi-
ness.”

Given Michael Hall’s former post at

Global United, it appears likely that Inch-
cape Shipping Services (Bahamas) has been
formed by former employees of the firm
owned by PLP Clifton general election can-
didate, Jackson Ritchie.
, Global United was the previous port
“agent for Carnival, so it appears that the
business may have moved with the former
employees.

Captain Hall is also understood to have
previously formed a business called North-
star Shipping Agents, which seems to have
been folded into Inchcape Shipping Ser-
vices (Bahamas).

When leaving a message on his cell phone ~
yesterday, this newspaper was tcld it was
calling Northstar Shipping Agents. And
when Tribune Business called the Freeport

‘office, the phone was answered as “ISS

(Bahamas) and NorthStar”.

Stock ‘bargains’ await in next 12-18 months

FROM page 1B

ty in qualifying [for a loan], they
raise it this way.

“Companies’ earnings do not
justify exiting the market. The
pressure to sell is coming from
the need for cash. All the peo-
ple with the cash, who can wait,
could be picking up some bar-
gains there.”

Mr Kerr said such trends typ-
ically favoured institutional
investors, such as Bahamian
pension funds and insurance
companies, who had “longer-
term horizons” due to the need
to match long-term investment
assets to liabilities.

“They're typically on the buy-
ing side, because they have
longer lead times and their risk
profile is different. They can

yaN woceeieenn is seeking applications for the petite of .

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An Associate Degree
Experience in the field of accounting or bookkeeping would be an asset
Must be efficient in the Microsoft Office Suite
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Strong Interpersonal Skills

Good organizational skills and multi-tasking ability

RESPONSIBILITIES:

‘The successful candidate will be responsible for overseeing the daily operations of
| the office, customer enquiries, logistics, local purchasing, reconciliation of accounts

receivables and accounts payables using QuickBooks.
REMUNERATION:

We offer an excellent remuneration package.
Persons interested are asked to please forward your MTT to: -

The Managing Director

P.O. Box N-1483



Email: bmhumanresourcés@gmail.com

wait out these cycles, and when
the selling companies have val-
ue, they pick them up,” Mr Kerr
said.

“The market is not structured
to take out the wholesale liqui-
dation of one particular stock -
at least not immediately. It
would have to be done over
time.”

Bahamian capital market liq-
uidity, which measures the ease

and willingness of investors to’

transact the purchase and sale
of shares, would be improved
if the main investment banks,
Fidelity and CFAL, “can actu-
ally take positions where they
invest in securities and take the
risk”, Mr Kerr said.

He added that this was the
first occasion since the post-Sep-
tember 11, 2001, fallout when

NASSAU PLASTICS
‘COMPANY,
- THE SIGNPOST
AND
THE TROPHY CASE

will be closed

Friday, October 31
We apologize for any
inconvenience to our customers.
We will reopen on
Monday, November 3.
at our usual business hours.



BISX and the Bahamian capital
markets had almost exactly mir-
rored the downward trend of
Wall Street and other global
markets.

“Our investment markets
have never been as connected
to the US as other individual
markets,” Mr Kerr said. “This
may be the first time in a long
time that our market has gone
in the same direction as the US.
In previous years, our markets
have been in positive territory,
while others have been Bees:
tive.”

Michael Anderson, Rovalki
delity Merchant Bank & Trust’s
president, told Tribune Busi-
ness that astute investors in the
Bahamian market would take
the opportunity to buy, espe-
cially in the 2009 first half, if





sen PARKGATE ROAD, 393-1332:

they felt companies with good
growth fundamentals were
undervalued.

“You're going to have to be a
bit more selective in buying
than just following the market,”
Mr Anderson explained. “All -
that’s happened is that buyers
have stepped back from the
market and are not willing to
step in, so unsupported stocks
are getting sold at a discount.

“In a normal market, there
are sufficient buyers to allow
sellers to exit at a reasonable
price. Share prices tend not to
reflect underlying values. This ts
what markets are like when
there are insufficient buyers,
and sellers have to take what
they can. It’s almost all driven
by market liquidity.”

While the BISX rule pre-
venting stocks trading at more
than 10 per cent above or below
the previous day’s close remains
in place, to guard against wild
price fluctuations caused by
retail investors cashing out at
strange prices, selling pressure
in. 2008 has consistently
increased as “more and more
sellers” - and fewer and fewer
buyers - came to the equities
market.

A survey of open orders
placed for BISX stocks by
investors, which was carried out
by Tribune Business last week,
revealed that there were cur- ,
rently just six unfulfilled ‘Buy’
orders across the entire market.
Of those six, four are for Cable
Bahamas shares, and the com-
pany has been carrying out a
‘share buy back’ scheme to sup-
port its stock price.

The only other companies
with outstanding ‘Buy’ orders
are FamGuard Corporation and
Colina Holdings (Bahamas).

The lack of liquidity in the
Bahamian equities market is
graphically illustrated by stocks
such as Bahamas Waste, which
has seen a build-up of 27 untul-
filled ‘Sell’ orders placed by’
investors, With prices ranging
from $3.80 to $3.23 due to the
seller build-up.
THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 5B





World stock

m@ By PAN PYLAS
AP Business Writer

LONDON (AP) — World
stock markets rose modestly
Tuesday ahead of an expected
interest rate cut from the Fed-
eral Reserve, but disappoint-
ing economic news out of the
US capped the gains.

Early stronger gains in the
Dow Jones index and in Asia,
where Japan’s Nikkei index
recovered from 26-year lows,
pushed Ew ope’s indexes even
higher. But then further woeful
US economic data took their
toll.

The Dow was up 163.38, or
2.0 per cent, at 8,339.45, while
the FTSE 100 index of leading
British shares closed 73.79
points, or 1.9 per cent, higher at
3,926.38.

The CAC-40 index of lead-
ing French shares was up 47.57
points, or 1.6 per cent, at
3,114.92; while Germany’s
DAX was 488.81 points, or 11.3

per cent, higher at 4,823.45 as ,

the share price of Volkswagen
AG more or Jess doubled
again. .

The Dow had opened up
around 300 points but the col-
lapse in the Conference Board-
*s monthly consumer confi-
dence index fueled concerns
about the likely depth of the
expected recession in the US
in the wake of the global finan-
cial crisis.

Board

The Conference Board said
its main index fell to 38.0 in
October, its lowest since the
survey started running 40 years
ago and way down on Septem-
ber’s 61.4. “That was massively
below expectations and the
Dow dropped back after that,”
said David Jones, chief mar-
kets strategist at IG Index.

The FTSE was helped by a
5.4 per cent rise in BP PLC’s
share price after the oil giant
revealed an 83-per cent
increase in net profit in the
three months from July to Sep-
tember to $8.05 billion, while
the DAX was lifted dispropor-
tionately by another 97 per

Cable
Bahamas
in 11.3%
profit rise

As a result, gross profits were
up 11.25 per cent at $31.008 mil-
lion, compared to $27.872 mil-
lion, while operating income
was ahead by 12.3 per cent at
$21.767 million.

Cable Bahamas was again

aided by some $795,000 in
reduced expenses on interest
payments and preference share
dividends combined.

INSIGHT

For the stories
behind the news,
read Insight
on Mondays

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.



cent rise in Volkswagen shares,
which came on top of Mon-

day’s near 150 per cent rise.

VW’s gains have come after
Sunday’s announcement from
Porsche that it had increased
its stake in the company to 42.6
per cent as part of its goal to
take a majority stake. It also
said it held an additional 31.5
per cent in cash-settled options,
that would give it indirect con-
trol of 74.1 per cent of VW
shares.

Analysts

Analysts speculated that
Porsche’s announcement
forced hedge funds to unwind
positions after they had bet on
VW’s shares falling, especially
as the state of Lower Saxony

owns just over 20 percent of

VW stock. That means there’s
only around five per cent of
free-floating VW stock avail-
able.

The gains Tuesday come just
as the US Federal Reserve
begins its two-day interest rate
deliberations.‘At present, the
markets have priced in a half-
pee point cut in the

‘-Fed’s benchmark rate Wednes-

day to a four-year low of 1.00
per cent.
There’s even speculation that
the Fed will cut by three-quar-
ters of a percentage point espe-
cially in the wake of the dire
consumer confidence data.
“We're likely to see choppy
markets ahead of the decision,”
said IG Index’s Jones.
Earlier, most Asian stock

markets rebounded after sev-’

eral days of steep declines as
investors snapped up beaten
down shares like Honda, Sam-
sung and HSBC.

Japan’s benchmark Nikkei
225 index surged 459.02 points,
or 6.4 per cent, to 7,621.92 after
early falling to fresh 26-year
lows.

The Nikkei was helped

somewhat during the session:

by the yen’s depreciation
against the US dollar. The dol-
lar, which had fallen to a 13-
year low against the yen on Fri-
day, rose 3.2 per cent to 95.96
yen. Traders remain on guard

markets rise modestl

we PEDESTRIAN walks i ren of a display SNOT} a " ROE Britain’s aRSaRLOO ae index in London... $





over possible moves by Japan-
ese authorities to intervene in
the market to cap the yen’s
strength after Sunday’s G7
statement warning about excess
yen volatility.

A weaker yen encouraged
traders to buy exporters whose
export potential are limited by
a surging currency. Honda
Motor Co. surged 14 per cent,
Toyota Motor Corp. jumped
7.8 per cent and Sony Corp.
rose 9.6 per cent.

Hong Kong’s Hang Seng
index rose a whopping 14.4 per
cent — its biggest gain in 11
years — to 12,596.29, a day
after plunging more than 12
per cent. South Korea’s Kospi
jumped 5.6 per cent to 999.16,
helped along by the South
Korean central bank’s interest
rate cut on Monday.

Index

Even Shanghai’s main index,
which had fallen six per cent
earlier, turned positive in the
afternoon. Australia’s key

stock measure closed down 0.4

‘ per cent, though sharply pared

earlier losses. Singapore’s mar-
ket index, also down more than
five per cent in morning trad-
ing, turned green in afternoon
trading.

Battered

Brazilian stocks were up
after being battered for weeks
on concerns that. a global slow-
down would throttle the
region's largest economy.
Brazil’s Ibovespa index was up
1.85 per cent at 29,978.

Elsewhere, oil prices were
steady at around $63 a barrel
after recent hefty losses.

On the currency front, the
euro was down 0.2 per cent at
$1.2486, while the pound was
0.1 per cent down at $1.5569.

e Associated Press writers
Kelly Olsen in Soeul, Shino
Yuasa in Tokyo and Malcolm
Foster in Bangkok contributed
to this report.

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

The general public Is Invited to attend Bahamas Development Bank’s sale of repossessed

assets,

Electronic Equipment

ASSETS

Tables

(1) Compaq Presario Computer Tower
(1) Canon Canoscan N640D EX Scanner

(1) Whirl Microwave
Tec Cash Register

(1) Epson Stylus Pro 9600 Print Engine
(1) HP Deskjet 656c Printer (Desktop)

(1) Monitor

(1) 1820 Epson Stylus Color Printer

(1) Keyboard a& Mouse
(1) Brothers Printer

(1) Samsung Digital Camcorder

(1) Dell Scanner a Printer

Machinery
(1) Chrome Juice Filler

(1) Multt Fruit Jutcer
(1) Chrome Mixer
(1) Dell Showcase

(4) Four Burner Stove

(1) Janome Monogram/Embroldery Sewing Machine
(1) Singer Quantum XL150 Sewing Machine with Serger

(1) Singer Sewing Machine

(1) Quilting Sewing Machine

(13) White Bi-Fold Chairs
(2) Breakfast Nools
Towel Warmer

Sterilizer

(1) Tec Cash Register

ef; 2 © @ &¢ & &

Fan Exhaust
Location:

(3) Maroon Banquet. Chairs

(1) £2 gal Electric Water Heater

(1) Wood Table (Round)
(5) Bi-Fold Tables (Rectangle)
(1} Marble Table (Rectangle)

reexers

{1} Two Door Chest Freezer
(1) Singte Door Chest Freezer
(1) Double Door Refrigerator
(1) Single Door Cooler

(4) Shampoo Bowls

(1) Nall Table with (2) Cabiners
(3) Nall Tables

(8) Nall Stools

(2) Faclal Beds (White)

(7) Facial Machine

(5) Halr Dryers

(1) Pedicure Set

(5) Hydraulic Styling Chairs

(4) Shampoo Chalrs

©
(2) Tech Work Benches
(1) Alternator Test Bench
(1) Paint Booth

(1) Rivec Machine

(1) 4” Storage Cabiner
(1) 4” Tool Cabinet

Brake Washer
Sand Blaster
Vart-Drive

Cooking Utensils Pots, Pans ax Plates

Nassau, Bahamas

Directions:

Inland Steel, Sumner Street off Solider Rd.

Exit Abundant Life Road tum right onto Sollder Road then the first

left. onto Sumner Street tenth two storey white a blue building on
the left

Date et Time:

10:00am, ~ 4:00p.m. ~ Saturday November 1, 2008

All assets are sold as is where is for cash, cashier’s cheque. No purchase(s)
will be released untll paid in full,

For additional information telephone 327-5780, the Bahamas Development Bank reserves the right to

reject any or all offers.





JOB VACANCY AT PRIME BAHAMAS
Mechanic Helper

We are seeking a professional and reliable person to assist in the.
Mechanic Shop to work on diesel vehicles. The qualified applicant

must have had 2 years prior experience and be willing to work under

Supervision, time requirements. References are required, and helpers

with their own tools is a plus.




OSE OE

Please send your resume and references to the Warehouse Manager,
via fax, email or in person:

OF TTR

Attn: Craig Rahming

Prime Bahamas
crahming@primebahamas.com
fax: 394-0282



COMMONWEALTH OF THE BAHAMAS 2007 /CLE/gen/00894

IN THE SUPREME COURT .
Common Law & Equity Division






wa ae

BETWEEN

SUISSE SECURITY BANK & TRUST LTD.
(In Liquidation) Plaintiff













AND

a ah hh

MOHAMMED HARAJCHI First Defendant
MICHEL HARAJCHI
SONJA HARAJCHI

CHRISTOPHER LUNN



Second Defendant
Third Defendant
Fourth Defendant










DEREK RYAN Fifth Defendant






EX PARTE SUMMONS



LET ALL PARTIES CONCERNED attend before
a Judge of the Supreme Court in the Supreme Court Building
Bank Lane, Nassau, Bahamas on

the day of A.D. at
o’clock in the noon on the hearing of an application by the
Plaintiff for an Order that the First Defendant MOHAMED
HARAJCHI be restrained, whether by himself or by his
servants or agents or otherwise by injunction until judgment in
this action or further order from doing the following act that is
to say disposing of, conveying selling transferring mortgaging
encumbenng or otherwise dealing with all those real properties
owned by the First Defendant situate on Paradise Island, New °
Providence, The Bahamas compnising the following, viz.










(1) ALL THOSE (2) parcels or lots of land situate
on the Southern Coast of Paradise Island one
of the Islands of the Commonwealth of The
Bahamas being Lot (7) & Lot (8) in the Block
(2) on the Plan of the Subdivision called and
known as “Paradise Island Colony”.

(2) ALL THAT condominium Unit (5) “Cloister
Estates” a Condominium according to and as
more particularly described in the Dedlacation
which condominium is located on the Lot
(2) and (13) aforesaid together with Unit
entitlement of (38/1000) undivided interest ,
in common property appurtenant to Unit (5)
and together with an assignment or parking
space 6) designate in Be Declaration as

‘Limited common Property.

(3) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block (2) of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City >
of Nassau in the Island of New Providence.’













were wan td BEECTLSS






(4) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block (2) of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City
of Nassau in the Island of New Providence.





(5) ALL THAT piece parcel or lot of land
comprising Lot (13) Block of the
Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the City
of Nassau in the Island of New Providence }
AND ALSO ALL THAT piece parcel or lot
of land comprising Lot (2) Block (6) of the
said Subdivision.






a

AND that provision be made for the costs of this
application.




Dated the 22â„¢ day of October, A.D. 2008




BY ORDER OF THE COURT





REGISTRAR



Si£e8&£88 SGhew se eer ese es ee See SAS URE EUR HEAR BOD

OE ar aS ae

CEO SEW SK Ow
THE TRIBUNE
ee me pa

PAGE 6, OCTOBER 29, 2008

: b. —_ Basis of consolidation
THE WINTERBOTHAM TRUST COMPANY LIMITED : \

i, Subsidiaries - subsidiaries are entities controlled by the Company. Control exists
when the Company has the power, directly or indirectly, to govern financial and
operating policies of an entity so as to obtain benefits from its activities. In
assessing control, the potential voting rights that presently are exercisable or
convertible are taken into account. The balance sheets of the subsidiaries are
included in the consolidated balance sheet from the date that control commences

‘CONSOLIDATED BALANCE.SHEET
AS OF JUNE 30, 2008 ’
(Expressed in United States dollars)

ome me until the date that control ceases.
ASSETS au . ;
= 7 ‘ ii, | Transactions eliminated on consolidation - intra-group balances are eliminated in
een Asa > preparing the consolidated balance sheet.
Cash and cash equivalents (Notes 5, 17 and 18) $ 8,945,507 $ 5,466,574
Accounts receivable - net (Notes 6, 17 and 18) 513,760 591,207 iii, | Fiduciary assets - assets held in trust and in custody on behalf of customers, and,
Prepaid expenses and other assets (Notes 7, 14, 17 and 18) 1,211,042 716,495 assets and liabilities under fiduciary agreements are not included in the
Secured loans (Notes 8, 17 and 18) 540,000 1,234,000 ; . consolidated balance sheet.
pene Nes ea eT) ‘ 899,564 _2,056,820 c, Cash and cash equivalents - Cash and cash equivalents comprise cash on hand, call
Total current assets 12,909,873 _ 10,065,096 - accounts, short term deposits and margin accounts with brokers.
NON-CURRENT ASSETS: : Aue aoe
. A ts ivable - Accounts receivable are stated at cost less impairment losses (see
Security deposits (Notes 17 and 18) 285,947 205,490 aay ener ae
Fixed assets (Note 10) 3,399,668 3,808,482
Deferred tax assets (Notes 15, 17 and 18) -___70,457 47,095 in , e. Secured loans ~ Secured loans originated by the Group are recognized when cash is’
Total non-current assets 3,756,072 4,061,067 advanced to the borrower. They are initially recorded at cost, which is fair value of cash
, Tae \ originated by the Group, including any transaction costs, and are subsequently measured
TOtAt $16,665,945 $14,126,163 at amortized cost using the effective interest rate method.
LIABILITIES AND EQUITY © et A
RRE ; f. Investments - Investments are recognized on a trade date basis and are classified as fair
cu Pe es i A value through profit or loss (FVTPL) and available-for-sale investments. Investments
Call accounts (Notes }1, 17 and 18) $ 4,130,308 $ 4,147,958 : are initially measured at cost and are subsequently remeasured at fair value based on
Accounts payable and accrued liabilities (Notes 12, 14, 17 and 18) 1,551,250 1,137,827 7 quoted prices. Fair values for unlisted securities are estimated using market values of
Dividends payable (Notes 17 and 18) 1,630,000 850,000 the underlying securities or appropriate valuation methods. Where fair value of unlisted
Advances from clients (Notes 13, 17 and 18) 299,240 352,114 investments cannot be estimated, they are carried at cost.
Ca ie ene Nee ele : #79 388 A762 . ; g. Fixed assets - Fixed assets are stated at cost less accumulated depreciation and
Total current liabilities 8,090,686 — 6,935,541 impairment losses. Depreciation is being provided by the straight-line method at the
EQUITY: ; following rates:
Share capital: ' . Housing property 2%
2,500,000 shares of $! each 2,500,000 2,500,000 Office building improvements 6.67% to 25%
rs ’ : 0,
Investments revaluation reserve (Note 9) 350,571 ° 562,695 : \ Vehicles 25 bs
Retained earni 5,724,688 __ 4,127,927 Software 33% to 50%
oe ea : Office equipment : 20% to 50%
Total equity : — 8,575,259 __ 7,190,622 ‘ Office furniture and fittings 10%
ee ; 516,665,245 $14,126,163 h.. Impairment - Fixed assets, accounts receivable, loans and investments are reviewed at

each consolidated balance sheet date to determine whether there is objective evidence of

See notes to consolidated balance sheet. impairment. If any such indication exists, the asset’s recoverable amount is estimated.

The consolidated balance sheet was approved by the Board of Directors on September 19, 2008 and ; ixed assets
is signed on its behalf by: : ‘ Fixed assets

| Me ul L ue y Abbey =
Director oo Director |

NOTES TO CONSOLIDATED BALANCE SHEET
JUNE 30, 2008
(Expressed in United States dollars)

An impairment loss is recognized whenever the carrying amount of the asset or its cash-
generating unit exceeds its recoverable amount.

The recoverable amount of assets is the greater of their net selling price and value in use.
In assessing value in use, the estimated future cash flows are discounted to their present
value using a discount rate that reflects current market assessment of the time value of
money and the risks specific to the asset. For an asset that does not generate cash flows
largely independent of those from other assets, the recoverable amount is determined for
the cash generating unit to which the asset belongs.

An impairment loss is only reversed to the extent that the asset’s carrying amount does

1. GENERAL not exceed the carrying amount that would have been determined if no impairment loss
. had been recognized.
The Winterbotham Trust Company Limited (the Company”) was incorporated and licensed in
the Commonwealth of The Bahamas in 1994 under the Bank & Trust Companies’ Regulation Accounts receivable

Act of 1965, and is a 75% subsidiary of Winterbotham Holdings Limited. In December 1996
the Company was granted a license to carry on unrestricted banking and trust business,
activities which, today, are subject to the terms and conditions of the Bank & Trust companies
Regulation Act, 2000. The Company is regulated by the Central Bank of The Bahamas. The
Company is also a licensed fund administrator and securities broker/dealer, activities that are
regulated by Securities Commission of The Bahamas.

This consolidated balance sheet includes the accounts of the Company and its subsidiaries,
which are hereinafter collectively referred to as “the Group”.

As of June 30, 2008, the Company’s holdings in subsidiarics are as follows:

.

Name of subsidiary Place of — Ownership Principal activity an asset is less than its carrying amount shown in the books of the Group. Impairment is
incorporation _jnterest measured and a provision for credit losses is established for the difference between the
and operation carrying amount and its estimated recoverable value.

The Winterbotham Uruguay 100% Provides administrative services to S vi

Trust Company parent company on intemal matters Foreign currency translation - The Group’s functional currency is United States
(Uruguay) S.A. (such as certain —_ accounting Dollars. In preparing the consolidated balance sheet of the Group, transactions ins o: ingoe
functions) and also with respect to currencies other than United States Dollars are recorded at the rates of ‘exchange
client servicing (with particular foousO YS. OS er prevailing on the date of the transaction. At each consolidated balance sheet date,
on clients in Latin America due. to monetary items denominated in foreign currencies are translated at the rates prevailing
geographical proximity and on the balance sheet date. Non-monetary items carried at fair value that are denominated
language). in foreign currencies are translated at the rates prevailing on the date when the fair value
: was determined. Non-monetary items that are measured in terms of historical cost in a
Shiffel Corp. S.A Uruguay 100% Provides administrative services to foreign currency are not translated. ‘
the parent company on_ intemal .
matters (such as certain accounting j. Provisions - Provisions are recognized in the consolidated balance sheet when the Group
functions) and also with respect to has a present and legal obligation as a result of a past event and it is probable that an
client servicing (with particular focus outflow of economic benefits will be required to settle the obligation.
on clients in Latin America due to .
geographical proximity and Classification - Assets are classified as current when intended for sale in the normal
language). This company opcrates operating cycle,'or held primarily for the purpose of being traded, or expected to be
from a free trade zone which has realized within twelve months, or classified as cash or equivalents. All other assets are
Cerlain 1ax advantages for the classified as non-current. Liabilities are classified as current when expected to be settled
administration of companies in the normal operating cycle, or held primarily for the purpose of being traded, or due to
domiciled outside of Uruguay. be settled within twelve months, or there are no unconditional rights to defer settlement
. for at least twelve months. All other liabilities are classified as non-current.
Winterbotham 9, : :
- Properties Limited Bahamas 100% Holds real-estate in Nassau. Assets under management - Assets under management which are held in a fiduciary
Haplar Holdin . capacity for clients are excluded from the balance sheet, other than those assets and
paris igs Bahamas 100% Holds real-estate in Uruguay. liabilities which’ relate to banking services provided by the Company to these clients.
WNS Limited Ss ; m. Financial instruments - On initial recognition a financial asset or liability is measured
: oo 100% cc igo Secretary for — a fair ap plus irene ee! a eee to re acquisition a — of
WND Limited . A P it nancial asset or liability. er initial recognition financial assets are classi as
Bahamas 100% ae ee Director for client either financial assets at fair value through profit or loss (FVTPL); held-to-maturity
: investments; loans and receivables; or available-for-sale; and are measured at their fair

Delacroix Limited Bahamas 100% Acts as nominee of -The
. Winterbotham —_ Tnust Company
Limited in its capacity as trustec

rs i and/or custodian. "2
Delaroche Limited Bahamas 100% Acts as nominee of The
Winterbotham Trust Company
Limited in its capacity as trustee

and/or custodian. ,

Delaroche Limited and Delacroix Limited are duly licensed and regulated by the Central Bank
of The Bahamas as Nominee Trust Companies. These companies, acting individually or
together, are nominees for The Winterbotham Trust Company Limited in its capacity as trustee
and/or custodian. WND Limited and WNS Limited have been approved by the Central Bank
of The Bahamas as Financial and Corporate Services providers and are regulated by the
Securities Commission of The Bahamas. Winterbotham Fiduciaria S.A. Administradora de
Fondos de Inversién is duly licensed by the Central Bank o: Uruguay as a professional Trust
oo and is a wholly-owned subsidiary of The Winterbotham Trust Company (Umiguay)

The registered office of the Company is Winterbotham Place, Marlborough and Queen Streets,
Nassau, Bahamas. ,

The average number of employees for the year is 69 (2007: 64). ©

ADOPTION OF NEW INTERNATIONAL FINANCIAL REPORTING STANDARDS
(IFRSs) AND INTERNATIONAL ACCOUNTING STANDARDS (IASs)

In the Current year, the Company has adopted IFRS 7 Financial Instruments: Disclosures which
is effective for annual reporting periods beginning on or after January 1, 2007, and the
consequential amendments to JAS | Presentation of Financial Statements, The impact of the
adoption of IFRS 7 and the changes to JAS | has been to expand the disclosures provided in

the consolidated balance sheet regarding the Company’s financial instruments and
management of capital. :

At the date of authorization of the consolidated balance sheet, the IASB has issued IFRIC
; 5 FRIC 12-
14, IAS 1 (revised), IAS 23 and 27 and IFRS 2, 3 and 8, which are not yet effective,

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of preparation - The consolidated balance sheet has been prepared in accordance
with International Financial Reporting Standards (IFRS) and_ their interpretations
adopted by the. International Accounting Standards Board (IASB) and includes the
Company and its subsidiaries in which it directly or indirectly, has a controlling interest
through ownership interests or agrecments. The consolidated balance sheet has been
prepared under the historical cost convention, and modified by any revaluation of asse.s
and liabilities at fair value through the statement of changes in equity according to the
policies for the relevant arcas. .

The preparation of the consolidated balance sheet in conformity with IFRS requires the
use of certain critical accounting estimates. It also requires management to exercise its
judgment in the process of applying the Group's accounting policies. The areas
involving a higher degrec of judgment or complexity, or areas where assumptions and
estimates are significant to the consolidated balance sheet are disclosed separately,

The accounting policies set out below have been applied consistently by Group entities.

The Group’s policy is to fully provide for all balances: outstanding for more than 120
days. In addition to the specific provisions for impaired receivables, an additional
general provision is created for potential losses not specifically identified but which
experience indicates may be present in receivables. Therefore, additionally a generic
provision equal to 5% of the remaining receivable balance is created. ’

Loans

Impaired loans refer to loans where there is no longer reasonable assurance of timely
collection of the full amount of principal and interest due to deterioration in the credit
quality of the counterparty. Loans are impaired if the estimated recoverable amount of



values without any deduction for transaction costs, except for the following financial
assets:

(i) loans and receivables and held-to-maturity financial instruments are measured at
amortized cost using the effective interest rate method;

(ii) Investments in equity instruments that do not have a quoted market price in an
active market and whose fair value cannot be reliably measured are measured at
cost.

Afler initial recognition financial liabilities are measured at amortized cost using the
effective interest method, except for financial liabilities at fair value through profit or
loss. Such liabilities, including derivatives that are liabilities, are measured at fair value.
Term deposits maturing after three months of the consolidated balance sheet date are
classified as held-to-maturity financial instruments. They have fixed or determinable
payments and fixed maturity dates, and the Company has the intent and ability to hold
them to matunity.

Loans and other receivables that have fixed and determinable payments that are not
quoted in an active market are classified as loans and receivables and are carried at cost,
which equates to amortized cost, Collateral deposits, deferred revenue and other
liabilities are financjal liabilities, which are carried at cost.

Recognition and derecognition - The Company recognizes/derecognizes a financial

asset when it becomes a party to the contractual provisions of the instrument. The
Company recognizes/derecognizes financial assets purchased or sold on the trade date.

Financial liabilities are derecognized when they are extinguished.

Related parties ~ Related parties include officers and directors who are related through
having authority and responsibility for directing and controlling the activities of the
Company and entities related through common directors and/or shareholders,

CRITICAL ACCOUNTING JUDGMENTS AND KEY SOURCES OF ESTIMATION
UNCERTAINTY

Certain amounts included in or affecting the Group's consolidated balance sheet and related
disclosure must be estimated, requiring the Group to make assumptions with respect to values
or conditions which cannot be known with certainty at the time the consolidated balance sheet
is prepared. A ‘‘critical accounting estimate’’ is one which is both important to the portrayal
of the Group’s financial condition and results and requires management’s most difficult,
subjective or complex judgments, often as a result of the need to make estimates about the
effect of matters that are inherently uncertain. The Group evaluates such estimates on an
ongoing basis, based upon historical results and experience, consultation with experts, trends
and other methods considered reasonable in the particular circumstances, as well as the
forecasts as to how these might change in the future.

a. Umpairment - The Group has made significant investments in fixed assets, loans
receivable and investments, These assets and investments are tested for impairment
when circumstances indicate there may be a potential impairment, Factors considered
important which could trigger an impairment review include the following: significant
fall in market values; significant underperformance relative to historical or projected
future operating results; significant changes in the use of the assets or the strategy for the
overall business, including asscts that are decided to be phased out or replaced and assets
that are damaged or taken out of usc, significant negative industry or economic trends;
and significant cost overruns in the development of assets.
‘THE TRIBUNE

Estimating recoverable amounts of assets must in part be based on management
evaluations, including estimates of future performance, revenue generating capacity of
the assets, assumptions of the future market conditions and the success in marketing of
new products and services. Changes in circumstances and in management's evaluations
and assumptions may give rise to impairment losses in the relevant periods.

b. Depreciation and amortization - Depreciation and amortization is based on management

estimates of the future useful life of fixed assets. Estimates may change duc to
technological developments, competition, changes in market conditions and other factors
and may result in changes in the estimated useful life and in the amortization or
depreciation charges. The Group reviews the future useful life of fixed asscts
periodically taking into consideration the factors mentioned above and all other
important factors. Estimated useful life for similar types of assets may vary between
different entities in the Grvup due to local factors such as growth rate, maturity of the
market, history and expectations for replacements or transfer of assets, climate cic. In
case of significant changes in the estimated useful lives, depreciation and amortization
charges are adjusted prospectively.

c. Legal proceedings, claims and regulatory discussions - The Group is subject to various

legal proceedings, claims and regulatory discussions, the outcomes of which are subject

y to significant uncertainty. The Group evaluates, among other factors, the degree of
probability of an unfavorable outcome and the ability to make a reasonable estimate of
the amount of loss. Unanticipated events or changes in these factors may require the
Group to increase or decrease the amount the Group has accrued for any matter or accruc
for a matter that has not been previously accrued because it was not considered probable
or a reasonable estimate could not be made.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise the following:

2008 2007
Average Average
Balance Rate Balance Rate
’ Cash on hand $ = 18,527 $ 22,060
Short term deposits : 211,697 393,389
Overnight placements : ~ 200,000 3.27% — 2,704,023 3.25%
Call accounts 4,600,954 , 2,232,910
Shares in investment funds: .
AIM s/t Invest. Co. Global US (Inst'l) - 14,192 5.20%
Dreyfus Universal Liquidity Fund - 100,090 5.15%
HSBC Liquidity Fund yee 1,000,000 3.40% -
Citi Institutional Liquid Reserves, Inc. 1,914,329 4.23% -
UBS (LUX) Money Market 1,000,000 1.87% :
$ 8,945,507 » $5,466,574
Nt,
6. ACCOUNTS RECEIVABLE - NET
2008 2007

$ 606,428 $_ 673,347

Accounts receivable
Allowance for doubtful accounts:

Balance, beginning of period | (82,140) (98,434)
Provision for the period _ (276,436) (215,072)
Write back of provision 265,908 231,366
Balance, end of period (92,668) (82,140)
Accounts receivable, net - $_513,760 $ 591,207

'

7. PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other assets are ‘Comprised of the following:

2008 2007

Shelf companies available for sale _$ 16401 $ 7,828
Advances to suppliers * 64,954 48,610
Accounts with related entities 606,173 201,525
Deferred expenses . 150,250 148,144 |
Loans to staff 274,956 251,985
Other 98,308 58,403
‘ $ 1,211,042 $ 716,495

» 8, SECURED LOANS”: °°

These are specific loans fully guaranteed by cash collateral held on account. It is not part of
the Company’s regular activity to grant loans, but it may do so on a case by case basis,
requiring full cash collateral in every case. As of June 30, 2008 one loan remained

_ outstaliding:
2008 2007 2008 2007
Principal Rate
Loan#1 ~ $ 54v,000 $ 540,000 3.60% 3.60%
Loan # 2 - 694,000 - Libor 90d + 3%
$_ 540,000 $1,234,060
INVESTMENTS

Investments at fair value are as follows:

2008 2007
FVTPL
Other investments $ 737,533 $ 610,466
’ Securities and shares 361,365 272,016
The Bahamas International Securities Exchange (BISX) 5,557 _ 5,557

$1,104,455 $ 888,039
Available-for-sale «

Gold : : : $ 244,538 $ 244,538
Silver - 361,548
Investments revaluation reserve : 350,571 562,695

$595,109 $ 1,168,781)
Total : $ 1,699,564 $2,056,820

>

10. FIXED ASSETS - NET

11.

Fixed assets consist of the following:

2008
Beginning : Ending
Balance _ Additions Disposals Balance
. COST: :
Land $1,032,966 $ - $407,029 $ 625,937
Housing property "1,445,325 12,430 22,725 ‘1,435,030
Office building improvements 1,107,928 48,734 29,235 1,127,427
Vehicles 339,283 , 119,752 47,803 411,232
Software . 320,669 "36,360 - 357,029
Office equipment 922,168 187,359 9,993 1,099,534
Office furniture and fittings 504,807 57,761 5,394 557,174
$5,673,146 $ 462,396 $522,179 $5,613,363
2008
“Beginning Ending
Balance Depreciation Disposals Balance
ACCUMULATED
DEPRECIATION: «
Housing property ‘ $ 99,067 $ 30,269 $ 3,066 $ 126,270
Office building improvements 326,425 88,270 29,235 385,460
Vehicles ; 178,875 85,003 47,743 216,135
Software ; 236,483 54,041 - 290,524
Office equipment 711,146 » 128,672 10,089 . 824,729

Office furniture and fittings 312,668 | 56,152 3,243 365,577

$1,864,664 $ 442,407 $ 93,376 $2,213,695

2008 Net Movement $3,808,482 $ 19,989 $428,803 $3,399,668
2007 Net Movement ot $3,689,170 $ 153,829 $34,517 $3,808,482

CALL ACCOUNT?

Call accounts repr..:_::" ‘ue total on-balance sheet amounts held by clients in the Company's
Call Accounts, Funds in excess of $ 10,000 in such accounts are placed out on a fiduciary
basis for the account and risk of the account holder(s). The balance in this consolidated
balance shect represents the first $ 10,000 held in each account plus the total balance held in
the accounts thai secure the loans indicated in Note 8.

OCTOBER 29, 2008, PAGE 7

12. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

; 2008 2007

Accounts payable $ 268,013 $ 234,144
Provision for staff benefits and training expenses : $28,752 514,836
Provisions - other : . 281,586 224,908
Commissions payable 124,425 119,696
‘Taxes payable (advance) 19,420 3,044
Accounts with related entities 4,466 29,128
Social security = 24,588 ___ 12,071

$1,551,250 $1,137,827

‘13. ADVANCES FROM CLIENTS AND FEES RECEIVED IN ADVANCE

Advances from clients include credit balances corresponding to clients who have made
advance payments on account. Fecs received in advance includes the portion of annual client
fecs which have been collected in the year ended June 30, 2008, and relate to periods
subsequent to the balance sheet date.

14. BALANCES WITH RELATED PARTIES

Related parties include officers, directors, shareholders and other companies with common
ownership. Where ‘hese related parties have the authority and responsibility for directing and
controling the authorities of other companies (established to participate in the Company’s
business activii’s) these entities are also regarded as related parties in the consolidated balance

sheet. Entities administered by the Company on behalf of customers where the Company also
provides directors are not considered related parties.

Balances with related parties:

2008 2007
Prepaid expenses and other assets $ 60€,173 $ 201,525
Loans to key management personnel $ 122,059 $ 143,453
Accounts payable and accrucd liabilities $ 4,466 $ 29,128

15. INCOME TAX

Companies subject to Corporate Income Tax are The Win

I ¢ terbotham Trust Company (Urug
S.A and its subsidiary Winterbotham Fiduciaria S.A. Adr oitea

ministradora de Fondos de Inversion,

Deferred tax assets and liabilitics

The deferred ax stated corresponds to differences between book and tax values of fixed assets
originated mainly by differences of valuation and depreciation criteria; ,

‘The deferred tax is the tax expected to be pai

d or recovered based on the differences existi
between the book value of an asset or liability, ae

and their tax value.

Assets for deferred tax as at June 30, 2008, rise from applying the tax rate in force at that

moment (25%) on the temporary taxable differences of US$ 131,493, which correspond
mainly to the different valuation criteria and fixed assets depreciation criteria.

Assets for deferred tax are recognized as long as the Company has fiscal earings against

which to use the deductible temporary differences. Liabilities for deferred tax are normally
recognized for all the temporary taxable differences.

Assets and liabilities for deferred tax are offset when relat
same tax authority and the Com
net basis.

et 1 ed to income taxes levied by the
pany sceks to liquidate its assets and liabilities current tax on a

As of June 30, 2008 deferred tax assets and liabilities are attributable to the following:

Assets Liabilities
2008 2007 2008 2007

Temporary differences arising from differences in
fixed assets valuation and depreciation criteria § 3,372 $ 20,946 §$





. . . s -
Temporary differences associated with
investments in subsidiaries 48,522 13,398 - -
Temporary differences for unused tax losses 18,563 12,751
$70,457 $° 47,095 ¢ - $ :
op Franest a ‘a oats Math 4iOLocils
16. FIDUCIARY OPERATIONS: div) yin ood

17.

syA nite fo atte q

At June 30, 2008, The Winterbotham Merchant Bank, a division of The Winterbotham Trust
Company Limited had entered into fiduciary agreements for an aggregate amount of
$621 ,407,042 (2007: $645,625,960). The clients bear all risk and responsibility for activities
carried out by the Company on their behalf under these contracts. The depositors agree to
indemnify and hold harmless The Winterbotham Trust Company Limited, its directors,
employees, agents and representatives ugainst all liability, losses or damages arising out of or
in connection with the fiduciary agreement. ‘The major portion of the fiduciary transactions
comprises funds received by The Winterbotham Trust Company Limited from corporate or
individual depositors which are subsequently lent to corporate or individual borrowers or
deposited with banks in money market accounts or similar, or in institutional liquidity funds.

FINANCIAL INSTRUMENTS

Details of the significant accounting policies and methods adopted, including the criteria for
recognition and the basis of measurement in respect of each class of financial asset, financial
liability and equity instrument are disclosed in Note 3 to the consolidated balance sheet.

The following table analyses the carrying amou °'s of financial assets and financial liabilities as
defined by 1AS 39 Financial Instruments: Reco, vition and Measurement:

2008
Loans and = Available. + Amortized
FVTPL receivables __ for sale cost Total
FINANCIAL ASSETS
; ; .
Cash and cash equivalents $ - § : - $8,945,507 s 8,945,507
- 99,564
Investments $1,104,455 $ - $ $95,109 § $ 1,699,56
Secured loans $ - § 540,000 $ - § ~ . § 540,000
Accounts receivables $ - $513,760 $ $ cee $513,760
Prepaid expenses and other asscts $ - $274,956 $ - $§ 936,086 $1,211,042
Security deposits $ - § - $ - $ 285,947 $285,947
Deferred tax assets $ - $ - $ - $ 70,487 $ 70,457
FINANCIAL LIABILITIES
Call accounts $ - $ - §$ = $4,130,308 - $4,130,308
Accounts payable and accrued liabilities $ - §$ ~ §$ - $1,551,280 $1,551,250
Dividends payable $ - § - § - $1,630,000 $1,630,000
Advances from clients $ — § - § - $ 299,240 $ 299,240
Fees received in advance $ $ - $ - §$_A79 888 $F A79 888
2007
Loans and = Available | “Amortized
FVTPL receivables _for sale cost Total
FINANCIAL ASSETS
Cash and cash equivalents $ - §$ - §$ = $5,466,874 $5,466,574
nen Ss1o4so $= Staaoasd $__- $2,056,820
: 234,000
Secured Joans $ $ 1,234,000 $ - §$ $1,234,000
7 §91,2
Accounts receivables $ $__ 591,207 $ - $ $ 591,207
£405
Prepaid expenses and other assets $ $ 251,985 $ - $ 464,510 $716,495
Security deposits $ $ - § - $ 205490 $ 205,490
095
Deferred tax assets $ $ - $ . > $ 47,095 $47,095
FINANCIAL LIABILITIES
Call accounts $ - $ - § - $4,147,958 $4,147,958
: 37,82 37,827
Accounts payable and accruct liabilities $ $ - $ $1,137,827 $1,137,8
Dividends payable $ Ss --$_ $_850,000 $_850,000
: 2, 352.114
Advances from clients $ a) - $ $3524 $3524
- $ 447,642 $447,642
Kees received in advance $ $ - S$ $447,642 $

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PAGE 8, OCTOBER 29, 2008 . | THE TRIBUNE

T8c: Bia Is MEnAS EEN d, Foreign exchange risk - is the risk of loss resulting from foreign currency translation,
: LG . . Currency risk is managed by matching liabilitics with assets within the same currency
The Company engages in transactions that expose it to market risk in the normal course of wieneut er ag ) B
business. These market risks include interest rate risk, credit risk and liquidity risk. The
Company's financial performance is dependent on its ability to understand and effectively
manage these risks.











a Market risk ~ Market risk is the risk that the value will fluctuate as a result of changes
in market prices. 2008
GBP CAD EURO US$
b. Interest rate risk - The Company is exposed to interest rate risk on deposits and call Equivalent Equivalent Equivalent Equivalent
accounts. The Company manages this risk by retaining a level of assets and liabilities ;
with similar principal values, iaterest rates and maturity dates Assets $608,249 Sb 115,450 $2,195,886 $ 10,346,693
Liabilities 446,587. 15,353 71,570 6,919,221 :
June.30, June 30 ,
, ’ Coverage (exposure $ 161,662 $ 100,097 $ 1,484,316 $ 3,427,472
2008 2007 Beanpot a ee oe
US$ US$ /
ASSETS:
, ; 2007
Cash and cash equivalents 4.00% 4.90%
ones = a GBP CAD EURO US$
Investments 0.00% 0.00% ‘ Equivalent Equivalent_. Equivalent Equivalent
Secured loans ‘ 5.60% 5.90% Assets $ 657,864 $ 60,974 $ 1,296,755 $ 8,302,088
; Liabilities 365,540 20,393 283,856 6,265,752
Prepaid expenses and other assets 5.00% 6.00% 7
Coverage (exposure) $ , 292,324 $ 40,581° $ 1,012,899 $ 2,036,336
Security deposits 0.00% 0.00% wee ee ee
Deferred tax assets 0.00% 0.00%
LIABILITIES:
e, Fair value of financial assets and liabilities - The fair value is the amount for which an
Call accounts 0.00% 0.00% asset could be exchanged, or a liability settled, between knowledgeable, willing parties
Pays in an arm’s length transaction. Underlying the definition of fair. value is the
Accounts payable and accrued liabilities 0.00% 0.00% presumption that the Company is a going concern without any intention or need to
Dividends payable 0.00% 0.00% liquidate, curtail inaterially the scale of its operations or undertake a transaction on
Spay — — adverse terms.
Advances from clients 0.00% 0.00% 7
os In the opinion of management, the estimated fair value of financial assets ai.d financial
Fees received in advance 0.00% 0.00% ° liabilities (accounts receivable, investments available for sale, bank balances, secured
; loans, prepaid expenses and other assets, accounts payable and accrued liabilities and
: . call accounts) at the balance sheet date were not materially different from their carrying
° value due to their short term nature.
Cc. Credit risk - The Company is expoved to credit risk in respect of losses that would have
to be recognized if counterparties fail to perform as contracted. 19. COMPARATIVE FIGURES

The Company’s exposure to credit risk is primarily in respect of accounts receivable,
bank balances, deposits, secured loans and prepaid expenses and other assets. As at the
balance sheet date, the Company’s maximum exposure to. credit risk is equal to the
carrying amount of the above assets disclosed in the consolidated balance sheet. The
loans are adequately secured by pledges of assets managed by the Company on behalf of
the borrowers.

Certain prior year figures have been reclassified to conform to the current year presentation. In
the prior year, “Winterbotham Group accounts” and “Third party accounts” (in Note 7) were
separate line items, in the current year they were combined and the name of the account was
changed to “Accounts with related entities’. In Note 12 the name of the account
“Winterbotham Group accounts” was changed to “Accounts with related entities”.

\ 2008 2007
CASH AND CASH EQUIVALENTS:

Neither past due or impaired $8,945,507 $5,466,574 ‘



INVESTMENTS:

s °
Neither-past due or impaired . $1,699,564 $2,056,820 Deloitte ‘

Deloitte & Touche
Chartered Accountants





SECURED LOANS: ' = a ae ,
Neither past due or impaired , $540,000 $1,234,000 Natisin Bohaaae
ACCOUNTS RECEIVABLE: . Fox} (24a) 322-3101
Neither past due or impaired $384,582 $496,438 ee en mnie
Past due not impaired $_ 129178 $94,769 .
Past due and impaired $92,668 $82,140



PREPAID AND OTHER ASSETS:

Neither past due or impaired ; $1.211.042 $ 716,495

SECURITY DEPOSITS:
Neither past due or impaired $285,947 $205,490 INDEPENDENT AUDITORS’ REPORT



>

DEFERRED TAX ASSETS:
To the Shareholders and Directors of

Neither past due or impaired $70,457 $47,095 The Winterbotham Trust Company Limited:
Liquidity risk - Liquidity risk arises when the Company has to meet its obligations on We have audited the consolidated balance sheet of The Winterbotham Trust Company Limited (the
borrowed funds and deposits. The Co npany manages its liquidity risk by matching as “Company”) as at June 30, 2008. This consolidated balance sheet is. the responsibility of the
‘. far as possible liabilities with assets of similar maturity periods. Company’s management. Our responsibility is to express an opinion on this consolidated balance
Bskeies 20 RVBDMS. ath Rees thkea 4 sheet based on our audit. ;
Assets and liabilities are due to mature based on the period remaining to maturity fron We conducted our audit in accordance with International Standards on Auditing. Those Standards
the balance sheet date, as follows: require that we plan and perform the audit to obtain reasonable assurance about whether the
consolidated balance sheet is free of material misstatement. An audit includes examining, on a test
June 30, 2008 basis, evidence supporting the amounts and disclosures in the consolidated balance sheet. An audit ’
Up te 3 3-6 Over 6 also includes assessing the accounting principles used and significant estimates made by
months months months Total management, as well as evaluating the overall presentation of the consolidated balance sheet. We
ASSETS: believe that our audit provides a reasonable basis for our opinion.
Cash and cash equivalents > 8,945,507 § - $ - $ 8,945,507 - . : : : : .
Investments : 962.031 . . 737,533 1,699,564 . In our opinion, the consolidated balance sheet presents fairly, in all material respects, the financial
Secured loans . 540.000 - 540,000 position of the Company as at June 30, 2008, in- accordance with International Financial Reporting
Accounts receivable 513,769 : : 513,760 Standards.
Prepaid expenses and other assets 20,622 95. 798 233,712 1,211,042 y ae se : ; : '
ne jets 185,947 - - 285,947 Without qualifying our opinion, we emphasize that the consolidated balance sheet does not comprise
Doha asactels . 70,457 a complete set of financial statements in accordance with International Financial Reporting
: OO oo Standards. Information on results of operations, cash.flows and changes in equity is necessary to

$13,266,277 obtain a complete understanding of the financial position, performance and changes in financial

position of the Company.



$10, /27,867 $1,496,708







LIABILITIES:
Call accounts : $ 4,130,308 $ - §$ - $ 4,130,308
Accounts payable and accrued liabilities 1,551,250 - - 1,551,250
Dividends payable 1,630,000 - - 1,630,000
Advances from clients - - 299,240 299,240
Fees received in advance Sie - __ 479,888 479,888
$ 7,311,558 $ - $779,128 $ 8,090,086 ; p : U Te.
ee to te £ “lon Le
‘June 30, 2007 /
Up to 3 2 over 6 , September 19, 2008
months months months Total :
ASSETS:
Cash and cash equivalents, $ 5,466,574 $ - $ - $ 5,466,574
~ Investments : 1,446,354 - 616,466 2,056,820
Secured loans - 1,734,000 - 1,234,000
Accounts receivable « 591,207 - - 591,207
Prepaid expenses and other assets 18,899 483,409 214,187 716,495
Security deposits 205,490 - 205,490
Deferred tax assets 7,095 7,095 . A cieriber finn ot

Deloitte Touche Tohmatsu
$ 7,728,524 $1,717,409 $ 871,748 $10,317,681

« LIABILITIES:

Call accounts $ 4,147,958 $ - $ - $ 4,147,958
Accounts payable and accrued liabilities 1,137,827 - - 1,137,827
Dividends payable 850,000 - - (850,000
Advances from clients ; - - 352,114 352,114
Fees received in advance ee AAT 642 447,642

$ 6,135,785 $e $ 799,756 $ 6,935,541

To advertise ALL your

LEGAL NOTICES,

call The Tribune’s

Sales Department
502-2394

Ses eee es


THE TRIBUNE

WEDNESDAY, OCTOBER 29, 2008, PAGE 9B





§ By JENNIFER LOVEN
AP White House Correspondent



WASHINGTON (AP) — An impa-

tient White House served notice Tues-
day on banks and other financial com-
‘panies receiving billions of dollars in
federal help to quit hoarding the mon-
ey and start making more loans.
_ “We're trying to do is get banks to
do what they are supposed to do; which
‘is support the system that we have in
‘America. And banks exist to lend mon-
ey,” White House press secretary Dana
Perino said.

Though there are limits on how
much Washington can pressure banks,
she noted that banks are regulated by
the federal government.

: “They will be watching very closely,
‘and they’re working with the banks,”
ishe said.

She said that Anthony Ryan, Trea-
‘sury’s acting undersecretary for domes-
tic finance, delivered a speech in New
York on Tuesday that made this point.

hite House to ban

WHITE HOUSE Press Secretary Dana Perino responds to a reporter’s question during




her daily briefing yesterday at the White House in Washington...

Ryan spoke to the annual meeting of
the Securities Industry and Financial
Markets Association, a group of Wall
Street executives.

“The way that banks make money is

by lending money. And so, they have,

every incentive to move forward and
start using this money,” Perino said.

There has been some evidence of
loosening lending, Perino said. But it’s
not enough to calm stock markets or
help small businesses that depend on a
free flow of credit, not just to expand
but to maintain operations through
making payroll or financing invento-
ries.

Ron Edmonds/AP

Under the authority of the $700 bil-
lion financial bailout plan approved by
Congress and signed by President Bush
earlier this month, the. Bush adminis-
tration plans to dole out $250 billion to
banks in return for partial ownership.

The Treasury Department, which is
overseeing the massive capital injec-
tion programme along with the rest of
the bailout, will pour $125 billion into
nine of the country’s largest banks this
week. Another $125 billion will go to
other banks.

Treasury Secretary Henry Paulson
has said the money would be used by
banks to rebuild their reserves so that
they would resume more normal lend-
ing practices — a crucial ingredient to
breaking through a debilitating credit
clog that is hurting the national econ-
omy and threatens to bring about a
deep recession.

’ More recently, though, Paulson said
the money could be used by banks to
buy other banks to make them both
stronger to weather the financial

ks: Start lending money

storms.

On Friday, PNC Financial Services
Group Inc. said it had received $7.7
billion in cash through selling stock to
the government under the bailout pro-
gramme. PNC then said it planned to
buy National City Corp. for $5.58 bil-
lion.

The rescue programme is just one
of the efforts the government is making
to combat the worst financial crisis to
hit the country since the 1930s.

The Federal Reserve began a -pro-
gramme Monday to purchase the
short-term debt of businesses, known
as commercial paper. This market has
been frozen since the collapse of _
Lehman Brothers spooked credit mar-
kets last month.

But so far, the efforts to battle the
severe credit squeeze have shown little

‘in the way of results. Libor, the London

Interbank Offered Rate, a key goal- .
post for international lending, edged
down only marginally on Monday and
still remains at elevated levels.



@ By MATTI HUUHTANEN
Associated Press ‘Writer

: HELSINKI, Finland (AP) —
‘Icelandic Prime Minister Geir
‘Haarde said Tuesday his coun-
itry needs about $6 billion in
loans to recover from the finan-
icial meltdown, just as the coun-
itry’s central bank separately
hiked its interest rates by a mas-
sive six percentage points.
Haarde told The Associated
‘Press that Iceland — whose

‘banking sector collapsed under

ithe weight of the credit crunch
fin October — will need $4 bil-

ion in addition to the $2 bil-
oe loan package announced
by the International Monetary
‘Fund.

+ “It’s not a precise number,
it’s not a scientific number but
we are looking in that neigh-
{ ourhood,” Haarde said. “We
fare talking about six (billion
idollars) altogether."

| Haarde would not say how

much of the additional loans he
hoped to receive from the oth-
er Nordic countries — Sweden,
Finland, Norway and Denmark.

“IT don’t want to mention the ©

figures because I do not want to
put pressure on them,” Haarde
said, on the sidelines of a
Nordic Council meeting in Fin-
land.

The comments came just as
Iceland’s central bank
announced it hiked its interest
rates‘by a stunning six percent-
age points to help the currency.
That is a remarkable policy U-
turn after it slashed its interest
rates by 3.5 percentage points
just two weeks ago.

After the financial sector fell
apart, bringing the currency
down with it, the government
and central bank have been try-
ing to protect the wider econo-
my from the fallout.

Last week, Iceland reached
a tentative agreement with the
IMF for a $2 billion loan over

©



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NOTICE

ELANCE S

my,

—
SEEN

as of October 27, 2008.

RESRee NS ey aes aa

Liquidator.

SEE

CAMELLIA UNITED S.A.
In Voluntary Liquidation





Notice is hereby given that in accordance with Section
138 (4) of the International Business Companies Act,

2000, CAMELLIA UNITED S.A. is in dissolution

International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is the

LIQUIDATOR

‘Leader: Iceland needs
Tesh to recover

two years. Haarde said he came
to Helsinki to seek more assis-
tance.

The prime ministers of the
other Nordic countries pledged
to help the small North Atlantic
island nation, but stopped short
of announcing an aid package.
Instead, they appointed a com-
mittee to study Iceland's woes
before making any decision.

“We will wait to see how the
IMF package is finalized before
making any decisions,” Swedish
Prime Minister Fredrik Rein-
feldt said.

Iceland has already called on
a swap facility, drawing $256
million each from the Norwe-
gian and Danish central banks,
but has not used the total of
$636 million from each. A sim-
ilar deal with Sweden’s central
bank has also been offered.

The country’s central bank is
facing considerable losses after
the bankruptcy of the three
main banks — Glitnir, Lands-





banki and Kaupthing.

The banks’ foreign debts
amount to over $60 billion,
dwarfing the country’s gross

domestic product of $14 billion. .

Danish Prime Minister
Anders Fogh Rasmussen said
his government was willing to
help more but that all decisions
would have to be made by Den-
mark’s central bank.

“Of course, we want to be of
assistance to our Icelandic
friends, but the central bank is
a free agent and independent
of the government,” Fogh Ras-
mussen said. “They will make
the decisions, net the govern-
ment.”

The prime ministers’ com-
ments came during three days
of meetings between Nordic
government ministers and law-
makers in conjunction with the
60th session. of the Nordic
Council, which promotes gov-
ernmental and parliamentary
ties between the five countries.

RN
Wyo)

Action #:
2003/CLE/gen/01974

‘Judgment Creditor:
Premier Importers Limited

Judgment Debtor:
Alexander Smith
1999 Ford F150 Lariat |

Action #:
2006/CLE/gen/00770

Judgment Creditor:
Premier Importers Limited

’ Judgment Debtor:
_ Beverley E. Lewis
2001 Ford Explorer Sports Trac

Vehicles can be viewed from 7:30am
to 4:30pm at Premier Importers,
St Albans Drive.

Bids. must be in writing on or
before November 16th, 2008.
Contact 322-8396 @ extn. 232
for any additional information.








‘COMMONWEALTH OF THE BAHAMAS. :
IN THE SUPREME COURT = 2007/CLE/gen/00894
Common Law & Equity Division . pity






BETWEEN .

SUISSE SECURITY BANK & TRUST LTD.

(In Liquidation) Plaintiff
AND

MOHAMED HARAJCHI









First Defendant
MICHEL HARAJCHI j Bed
Second Defendant
. SONJA HARAJCHI ‘ en:
/ Third Defendant:
CHRISTOPHER. LUNN 5 j
; Bethe Fourth Defendant -
DEREK RYAN
Fifth Defendant



IN CHAMBERS
BEFORE THE HONOURABLE MR. JUSTICE
STEPHEN ISAACS :
THE 24" DAY OF OCTOBER, A.D. 2008 ©





ORDER

UPON EX PARTE SUMMONS dated the 22"
day of October, A.D. 2008 and filed herein on the 23% day o
October, A.D. 2008 coming on for hearing this day ae




UPON HEARING Anthony A. McKinney, Esq: on
behalf of the above-named Plaintiff




AND UPON READING the Affidavit of KERI
DAVIDE SHERMAN sworn to on the 22" day of October,
A.D. 2008 and filed herein on the 23" day of October, A.D.
2008 and the exhibits thereunto annexed and the draft minute
of the order sought.







AND UPON the Plaintiff by its Counsel




(1) to abide by any Order that this Court may
make as to damages in case the Court shall hereafter be of the
opinion that the First Defendant shall have sustained by reason
of this Order which the Plaintiff ought to pay

(2) to inform the First Defendant forthwith of
the terms of this Order by inserting an advertisement of such
Order, Ex Parte Summons, Affidavit of Keri Davidé Sherman
as sworn and the exhibits thereto annexed in the Tnbune
newspaper. :







IT IS ORDERED that that the First Defendant
~ MOHAMED HARAJCHI and be restrained, whether by
himself or by his servants or agents or otherwise by injunction
until judgment in this action or further order from doing the
following act that is to say disposing of, conveying selling
transferrmg mortgaging encumbering or otherwise dealing
with all those real properties owned by the First Defendant
situate on Paradise Island, New Providence, The Bahamas ©

comprising the following, viz.
t) ALL “THOSE (2) parcels or lots of land
situate on the Southern Coast of Paradise
Island one of the Island of the Commonwealth of
the Bahamas being Lot (7) & Lot (8) in the
Block (2) on the Plan on the Subdivision called
and known as “Paradise Island Colony”.

(2 ALL THAT condominium Unit (5)
“Cloister Estates” a Condominium ,

_ according to and as more particularly described in
the Declaration which condominium is: located.
on the Lot (2) an (0) aforesaid together with
Unit entitlement of (38/1000) undivided interest in
common property appurtenant to Unit (5)
and. together with an assignment or arking space
(5) designate in the Declaration as hanite common
Property.

(3) ALL THAT piece parcel or lot of land
comprising Lot (4) in Block 2jof the
Subdivision known as “Paradise Island Colony”
situate on Paradise Island in the City of
Nassau in the Island of New Providence

(4) ‘ALL THAT piece parcel or lot of land
comprising Lot (5) in Block Q2)of the
Subdivision known as “Paradise Island Colony”
situate on Paradise Island in the City of
Nassau in the Island of New Providence

(5) ALL THAT piece parcel or lot of
land comprising Lot (13) in Block @

of the Subdivision known as “Paradise Island
Colony” situate on Paradise Island in the
City of Nassau in the Island of New Providence
AND ALSO ALL THAT piece parcel or lot of
land comprising Lot cF in Block (6) of the
said Subdivision :

BY ORDER OF THE COURT






























REGISTRAR





PENAL NOTICE

TAKE NOTICE that unless you the said
MOHAMED HARAJCHI obey this Order you will be liable
to process of execution for the purpose of compelling you to
obey the same.








THE TRIBUNE WEDNESDAY, OCTOBER 29, 2008, PAGE 10B







My

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RM BAILEY CLASS OF ‘88

NINIVERSARY BANQUET

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HE RM Bailey High School Class of 1988 cele- ~

brated its 20th anniversary witha grandban-

quet, held'in the Imperial Room at the Atlantis
Resort on Saturday.

The class was entertained by it's very own Geno D,
who thrilled the crowd with hits songs from his albums,
including ‘Drunk Again' and 'Someting' Just Een Right’.
"This was truly a exciting and fun-filled night," said
Andrew Missick, a member of the graduating class.

Currently living in Houston, Texas, Mr Missick said
that he would not have missed the celebratory events for
the world. "It was wonderful too see all the classmates
that showed up. I expected to much, much more, but I
am grateful and proud to be a part of this event. Those
who missed it missed great food, fun and fellowship and
I would have hoped that dur-
ing our 25th anniversary we
would have had more per-
sons attending," he said.

Mr Errol Bodie, co-chair of
the class' planning commit-
tee, said all the planning and
sacrifice had paid off. "This
was a great event and we
look forward to better things
in the future. Like Andrew J
would have loved to see
more persons attend, but the -
ones that attended I am sure

_ this will be a long lasting
memory to cherish for years
tocome. |

"Our thanks goes out to —
Geno D who electrified the
audience and we danced the iar
night away to his songs. Also, °
to the banquet committee who made sure everythin
was in order, Fifika Bain who designed the tickets, Eric
Laramore who pushed the banquet ticket sales and all
those persons who assisted, you know who you are - a
heartfelt thank you for your support and I look forward
to bigger ind better things before we close out this
reunion year, June 20, 2009."

The next event planned for the graduation class is a
Christmas social in December that will close out this
year's activities.





icstade Wisiensdeireiss



+ The RM Bailey Class of 1988 will meet today, and
every Wednesday until the end of the year, at the
school on Robinson Road at 7pm to discuss upcoming
fundraisers. A monetary donation to the school is
scheduled in the future. All classmates wishing to make
a contribution should call 302-2783 for more details.


PAGE 11B, WEDNESDAY, OCTOBER 29, 2008

ENTERTAINMENT

THE TRIBUNE





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EMEMBER the wild sequence in Casino’

Royale where James Bond has a fantastic

chase scene with a Ugandan terrorist,
played by French free-running phenom Sébastien
Foucan, that takes place on a busy construction
site and along a harrowing, seemingly mile high

crane?

If you look closely enough
during this sequence you'll see a
pair of legs running across the
screen - fleeing the mayhem
caused by the chase. Those legs
belong to Bahamian-born Jason
Elwood Hanna, a rising star in
the world of stunt work, a prac-
titioner of freerunning - he
recently returned from the
FreeRunning World Champi-
onships held in London where
he reached tie semi finals - and
a student of the art of Capoeira,
an African/Brazilian martial art
disguised as dance.

Developed some four cen-
turics ago by slaves as they were
being forcibly shipped between
the African continent and
Brazil, Capoeira, some believe,
was originally a way for African
’ slaves to defend themselves
against the slave traders and
others who would harm ‘them,
but they disguised the practice
as a dance.

It is this art form that Jason,
along with his Mestre - that is
teacher - Eclilson de Jesus, will
bring to the Bahamas during a
week long seminar beginning
November 15 -19 at the Hub,
Ray Street.

which spread across Brazil as
more and more slaves adopted
the art form, capoeira has grown
into a unique cultural movement
that reflects its diverse origins.
Instruments like maracas and
drums, and the African berim-
baus, which is similar to an
archer's bow and uses a steel
string and a gourd for reso-
nance, are played while per-
formers begin their rhythmic
dance, sometimes with notes
that reflect the Brazilian sam-
ba.
Developed over | time,

capoeira's modern moves have .

turned into a game of sorts - a
dance really between parties,
where both sides use kicks,
throws, acrobatic moves and
generally have fun. "You can
use it for protection, but it's real-
ly meant for fun," Jason said.

_ Hoping to expand the cultural
awareness of Bahamians by pro-
moting this African/Brazilian

practice, Jason will be hosting |

his teacher for the week long
seminar, and he invites all inter-
ested Bahamians, particularly
the youth of the nation, to come
out and learn more about this
interesting movement from



JASON ELWOOD
HANNA is a rising
star in the world of
stunt work, a prac-
titioner of freerun-
ning and a student
of the art of
Capoeira, an
African/Brazilian
martial art dis-

From a symbol of empower- Mestre de Jesus. guised as dance.

ment and a form of self defence Jason said he sees the upcom-

SS AAAS N

Dafova takes in the Bahamas

B By CHESTER ROBARDS
Tribune Staff Reporter



A BAHAMIAN society struggling to extract
itself from a narrow world-view and simultane-
ously recapture a culture on the verge of extinc-
tion may want to look to Europe for the formula.

To be exact, look to Sofia, Bulgaria, home of
international recording artist and special repre-
sentative for the United Nations High Commis-

- sioner for Refugees (UNHCR) Dyana Dafova.

Ms Dafova recently spent ten days in Nassau
and Paradise Island absorbing the culture of the
islands and. the music of Junkanoo in hopes of
melding it into her music and returning to perform
for a Bahamian audience at Atlantis.

"T want to meet the local people and talk to the
Jocal people," Ms Dafova said. "It's not just car-
rying a few CDs and listening to the music, I want
to feel the nature of the local people; the way
they think, the way they talk, their sense of
humor, the way they live. Then I have a better
understanding of what I'm doing in the music."

Ms Dafova was born in Sofia where she began
her studies in music and dance at the age of five.
As she matured in her career she began to devel-
op her own style of music, fusing sounds from
cultures around the world and blending the
indigenous dance with a European style, to create
a truly cosmopolitan package.

She even performs her music in 14 different
languages, including the ancient language of San-
skrit, and in beautiful Celtic and American Indi-
an tongues.

She has been received by Senator Hillary Clin-
ton who, Ms Dafova said, has her cd as part of a
private collection. She was also given a personal
blessing from Pope John Paul II for her music.

‘Ms Dafova's husband and manager Mike But-
terfield said she is able to simply listen to sounds’
and rhythm then go to the studio and create a
fusion of music.

"Having listened to some Bahamian music and
island music she would then, when she goes back
to the studio, start composing the song with the
special moments of the music she heard and the
culture she attended," Mr Butterfield said.

"Then that goes into the second phase which is
the concert. She actually does the choreographic
design of the concert and the musical that goes
with the sony and then designs the costume to fit
the musical."

Ms Dafova said she would love to return to
perform for the Bahamian people.

"I hope the people here will like my music and
my show, because I notice that it's a very cos-
mopolitan place and the people are very open to
different nations and cultures."

Ms Dafova considers herself an international
ambassador and has been recognized as such by
the United Nations. Her contemporary music is
considered world music and is an audible and
visual passport to places and cultures.

"Culture," she said, "is the best ambassador,
especially through music."

* To learn more about Dyana Dafova check out
www.dyana-dafova.com ,

Dyana Dafova



Gee
Peer Riga ati
Singin 8 oS
“ee. Foe acne :
jot Se ie .
4B tare













ing seminar as a way to promote
education, healthy extracurric-

‘ular activities and to underscore

that it is okay to pursue inter-
ests that are outside of the more
popular sports and activities, like
basketball and ballet.

It was while pursuing his own
unique interest in stunt work
that Jason came across the art

‘form. Travelling to Canada for

work he would make friends
there, and through that associa-
tion he began to learn capoeira
and found that he enjoyed it,
and could use it in his stunt
work.

After studying with others,
Jason met Mestre de Jesus, a
Brazilian, in Canada in 2006.
After training with him, Jason
decided to bring him to his home
because he wanted to introduce
capoeira -'something many
Bahamians have never heard of
- to the Bahamas.

According to Jason, they are
already thinking about opening a
capoeira school here next year to
teach the art form.

Apart from capoeira, Jason is
very involved in the world of
stunt work. Beyond the "small"
part in Casino Royale, he has
also worked on ‘Luminous! - a
Canadian television show, and
is expected to begin shooting for
‘Way of the Warrior’, also a
Canadian film, in March.

* The Capoeira classes will
be held November 15 - 19, at
Hub, which is open Monday
to Friday, from 10am-6pm.
Interested persons should
reserve a spot by November
1 because space is limited.
To learn more about the mar-
tial arts/dance form visit
www.achebrasil.com and
kaizenstunts.com. For more
information contact The Hub
at 322.4333 or 535.7773 or
email : :
bahamaspk @gmail.com or
info@thehub bahamas.org,

Saturday, November 1
Come in for exciting year-end





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THE TRIBUNE






m@ By CHESTER ROBARDS
Tribune Staff Reporter

IF you want to get into the. mind of your child you
can send him or her to a shrink, but a less expensive

and unobtrusive alternative is an art class.

_ Pupils of Sonia Isaacs' art studio are preparing to bare their souls
to the public through their first ever group showing at Anthaya Art

Gallery in Cable Beach next month.

j The group of ten young artisans have been a part of Ms Isaacs'
, weekend art school for about three years and she says they have

' come a long way since then.

"All of the children came to me having never painted before, so
it actually took them three years to be able to do the work and pro-
duce nice pieces," she said. "This is their first showing after three

years of art classes."

Only one of the students participating in the upcoming show has
exhibited before. Deshanda Morely showed off her work beside
her seeded teacher Ms Isaacs, in a two woman show. Deshanda
wowed viewers with her unique style and even sold a few of her

pieces.

Ms Isaacs said she allows her students to choose their subjects

because they need to feel their work.

"You can see the different styles coming out in each child and
styles are popping out on their own. I would show them primitive,
abstract and realism, but each child has a different mechanism and

so the work is different from child to child.

"I keep the classes quite small so that they get individual atten-
tion every single class because they are working on individual pro-

jects, so I need them to find themselves in the work."

One of her exhibitors, Anaard Lunn, was the winner-of the Cen-
tral Bank's art competition last year and his brother Armaand
Lunn received honourable mention for his mosaic pieces.

They, along with Lex Fountain, 10, Dashanda Morely, 17, Dyah
Neilson, 12, Lia Ritchie, 15, Brian Sands, 18, Cydne Coleby, 14,
Kirkwood Deal, 14, and Tamara Cartwright, 17, will have their
work displayed for a week in Anthaya and are hoping to receive

exposure for their talent and to make a bit of money.

"T have. seen an extreme improvement and I would not show
' them if I didn't think they were marketable at this point," Ms

Isaacs said.

Asasescecceaeeneeceeeeseceeseeaseseaes! Leeeeescceeeseeeneeerseeasseeeeeenee sees senses ease eens assess eaene nas eseunseneesnceesnseneesanseeen eee ee

ey ~ + For more information on this show contact 327.1045



FROM page 14

The science of restoration

It may seem that restoring art-
work has a lot to do with art, but
the fact is that art is only a small
portion of her work. Interesting-
ly, art conservation is more of a
science and to understand the
process of recovering a piece you
must be. able to identify the
medium used for the painting
and differentiate between the
chemicals.

“Although artistic ability def-
initely comes in handy and is a
plus it is only a small part of
being a restoration specialist. It is
a highly complicated and spe-
cialized field where it’s more
often your knowledge of chem-
istry that is your lifeline to not
ruining someone’s $500,000 art
piece.

“In restoring paper art you not
only have to determine what
kind of paper the art work was
done on, but you also have to
determine through various chem-

ical’ ‘tests, what kind of damage is,

appéaring on the art and what
kindof ink or paints were used to
créate the image," she said.

A restorer's judgment must be
seqsitive toward the piece since
themain objective is not to alter
it’s, pp¢arance but to make it
look like'an’exact replica of the
original. The addition and sub-
traction of chemicals to the paint-
ing must be as accurate as possi-

‘story to be told

RAs
Oh

ble. “If you make the wrong
determination on any of those
facts then whatever treatment
you choose could totally destroy
the art piece irreversibly.

"Here in the Bahamas we
have mostly two kinds of spotting
that occurs on paper media in
our climate. One is called ‘foxing’
- it’s the brown chickenpox type
spots that paper art gets from
being near products full of acid
(mainly cardboard). Then there
are spots that look very similar
but are more grayish in colour,
that is mold and is something
entirely different. Although to
the naked eye both examples just
look like chicken pox to you, the
treatments for me to cure or min-
imize the effects of those two
scenarios are completely differ-
ent.”

Operating out of a studio °

located in Palmdale, Ms Aitken
admits that working on these
valuable art pieces can some-
times get her adrenaline pump-
ing; if she makes a mistake dur-
ing the restoration process it can-

‘not be reversed, and her clients
valuable piece will be ruined.

Although her job can become
very uneasy at times, she has had
only success over the course of
her career - and she gives all of

-the credit to God. “In all honesty

even though I know what I am
doing, the sentimental pieces
sometimes make me a little ner-
vous because sentimental value

ass
















betore

is priceless, you can’t replace
that. I have a firm belief in God
and in prayer and in return he
has blessed my talents and my
business where so far I have nev-
er had a dissatisfied customer
with my work.”

Being an Aitken (Andrew
Aitken is her brother) has often
caused many people to get the
impression that her job entails
restoring photographs only, but

* the only thing that she actually

does with photographs is to
restore those that are black and
white and that are printed with

PUPILS of
Sonia Isaacs'
art studio are
preparing to
bare their souls
to the public
mthrougheir
- first ever group
* showing at
Anthaya Art
Gallery in
Cable Beach
next month.







the old silver method on leavier
card stock paper. Photo restora
tion is much easier than the
work that she does restoring art
pieces.

In the global market restor-

‘ing artwork can be extremely

expensive, but Ms Aitken has
been very sympathetic to
Bahamian art lovers and has
made the price more affordable.
Despite the fact that her prod-
ucts are exclusively from Cali-
fornia, her prices are far below
the American industry. “I charge
by the square inch of all my

INESDAY, OCTOBER zy, 2008, PAGE 12B



work so no matter who the
clients are the price is always the
same.”

Ms Aitken has been restoring |

art for over 15 years and she is
also an accomplished custom

frame designer, an art consul-
tant, an interior designer and has_ ;

been an art restoration specialist
in both the US and Nassau.

- For more information con-
tact Sharon Aitken at 424- 9901 |

or 325-1771 ext. 3 or by e-mail:
i.fix.art@gmail.com

Mo WN FBO ww

FROM page 14

The young woman says that
in her vision "there is more
green than gray",

The Haitian mother says, “All
children have talent. But some
Haitian parents don't have mon-
ey so they can't send their chil-
dren to school so you can't see
their talent, In my vision I have
money to build them a house so
they have food and clothes and
they can go to school so you can
see their talent”.

The expectant mother hopes
that "people consider the gen-
erations to come in all their
actions”.

Sabrina's eleventh piece is a

collage of individual shots
showing suffering on a back-
ground of the Pine Barrens.
Shots included here are abused
animals, children and nature
that speak to the heart of each
human being, creating a seed of
hope for the future,



* Vision is on exhibit at the
New Providence Community
Centre and will be on display
until the end of October.
PAGE 13B, WEDNESDAY, OCTOBER 29, 2008

THE TRIBUNE





Family tun to be had at Ardastra

m@ By LISA LAWLOR

WITH summer ended and students settled back
into the hectic routine of school and extra curric-
ula activities, parents may be feeling a tad out of
touch with their youngsters: Yes, you jie spend

a lot of time together in the car as you c

auffeur.

your little ones to and from school and to their
many club meetings and practices, but are you
really spending quality time together, participat-
ing in fun, family-friendly, friendship-building,
communication-enhancing activities?

A trip to Ardastra Gardens,
Zoo and Conservation Centre
may be just the thing to shake
up a monotonous routine and
to bring parents and children
together in an environment of
beauty and natural wonder.

Imagine walking along the
‘ path made for visitors to the
park, and coming across pea-
cocks proudly displaying their
colourful feathers - they are
only shown in breeding season
to attract their female mates.
Imagine how wide eyed and
excited your little one will be
at this glorious display of design
and symmetry. And to show
how hip you are to your older
kids, you can confidently point
out that the peahens - the
female of the species - are
notably less flamboyant,
coloured with only plain brown
feathers, but they are every bit
as lovable’as their bodacious
male counterpart.

Or think about how excited
everyone will be when they see
the flash of patterned fur, the
flicker of a tail and glimpse the
razor sharp teeth from. Sheba
and Sasha - two sister jaguars
who coyly inhabit their spacious
exhibition.

The most notable attraction

at Ardastra however, is the col- *

lection of 44 flamingoes that live
on the grounds, representing
the national bird of the
Bahamas. While there are 21
show flamingoes who perform
three times per day in the
famous flamingo extravaganza,
the rest are kept in the pond
for breeding and to raise the

younger birds until they're also”

ready to be trained.

Two baby flamingoes were
born in June, looking like little
white chicks, and will gain their
colour at about three years old,
_ Phillippa Moss, manager, said.
They get colour from their diet
of mollusks and insects, which
are rich in carotene. In the wild,
flamingoes can live up to 40
years old, and in captivity may
live as long as 50 years.

A man and his dream

While most Bahamians take
the existence of Ardastra Gar-
dens for granted, the reality is
that its place in Bahamian soci-
. ety, as a family friendly nature
retreat where children and
adults ali; 2 could get up close
and personal with wild animals
and unique flora and fauna, was
shaped and constructed by a
man of vision. ,

The legendary Normon



© 25TH ANNUAL
ART COMPETITION

AND EXHIBITION:
The Central Bank
of the Bahamas
will host the grand
- Opening and '
awards presenta-
tion for it's 25th
Annual Art Com-
petition and Exhi-
bition on Wednes-
day, November 5,
at 5:30pm at the
Bank's Art Gallery,















Solomon had a dream that
endangered animals would have

‘a safe haven, and that the

Bahamas' natural flora and fau-
na could be carefully nurtured
for all time. Through Ardastra
Gardens Mr Solomon's goal
was realized, and with the help
of Michael Jimenez, director
and Ms Moss, the tycoon's
dreams will stay alive and well
on his five and a half acre lot.

Mr Solomon wanted to pro-
vide a unique service to
Bahamians, and in Ardastra the
beauty of tropical nature is a
one of a kind experience. At its
purchase in 1982, he took it
from a reserve that concentrat-
ed largely on plants, to a shelter
for endingered animals the
world over.

Ardastra houses some 200,
mostly Bahamian reptiles,
mammals and bird species living
in the gardens. They include
Bahamian animals that are
reducing in numbers because of
ecological changes or over-hunt-
ing, but there are also animals
received from other zoos, those
who have been rehabilitated
back to health by the zookeep-
ers or saved from illegal trans-
portation practices.

Normon Solomon's dream
catered to the youth who he
believed would benefit expo-
nentially from interaction with
beautiful creatures and nature.
He wanted Ardastra to be
accessible for everyone, keeping
admissions prices at a reason-
able rate, giving specials for
school trips. The zoo receives
over 10,000 children per year.

The wonders of the world

In 2001 Ardastra Gardens
became the first park in the
world to breed flamingoes in
captivity, a difficult feat to over-
come as it is well known that
in general, captive animals do
not have the same breeding

_ habits as they would if they

were in their natural habitat.

Mr Jimenez attributed this to
the gardens’ ability to accom-
modate animals in exhibitions
as close to their natural envi-
ronment as possible, as their
breeding grounds are actually
on a pond, and their diet was
changed too. Ardastra contin-
ues to be one of the few parks
which is able to breed flamin-
goes in captivity:

This is also a commendable
feat due to the recent depletion
of flamingo numbers the world
over. There are now an esti-
mated 880,000 flamingoes in

* THE CENTRAL BANK OF
: THE BAHAMAS

°/ cardially invites yaw te
atténd the opening of ite

ANNUAL
ART COMPETITION
j end EXHIBITION

trestlay, November 4th, 200%

Oa
‘Tht Cental Bank of The Bakanas
Art allay
Handorink, Stree
Nasser, The Babamnas,

Ni





A TRIP to Ardastra Gardens, Zoo and Conservation Centre may be just the thing. to shake up a monotonous routine and to bring
parents and children together in an environment of beauty and natural wonder. oy

the world. Before Hurricane
Ike, there were about 65,000 of
the species in Inagua, although
that number should not be
largely affected because their
population didn't take a huge
hit.

In the 1930s and 1940s the
birds were hunted for meat, but
today they are a protected
species under Bahamian law
and are illegal to hunt.

Another popular attraction
at Ardastra is the petting zoo
which features animals such as
goats and sheep, as well as the
option of feeding the red Lory
parrots and feeding the goats.
Ms Moss said this spectrum of
the zoo really fascinates the
children, "inspiring them to stay
for as long as they can, and
sometimes even to become a
sponsor for a specific animal."
This aspect allows the child to
technically own the animal, and
motivates them to visit their
animal very frequently.

POs TO

Last Name:
Company:

Telephone # Home:

Fax #:

Birds that frequent the visi-
tors' shoulders are such friend-
ly characters as Toby, the 35
year old cockatoo, and Sal-
vador, the 17 year old macaw
found next to the gift and snack
shops. -

Other animals found at the

‘gardens range from Cuban
Amazon parrots (a bird closely :

related to the Bahama parrot
— also found at Ardastra), a
Great Horned Owl, rabbits,
roosters, geese, meerkats, tur-
tles, servats (a wild cat species),
Prevost's squirrels from South
East Asia and the Borneo

' Islands, Indian Ring Necked

parakeets, a Trumpeter Horn-
bill from Mozambique, Cara-
cals from Africa, North West
India and the Arabian penin-
sula, plus Bahamian boa con-
strictors who were confiscated
from some reptile enthusiasts
in Andros trying to smuggle
them to the US.

There's also an African

crané, spiny tailed iguanas, ring
tailed limas, curly tailed lizards,
yellow-footed tortoises, white’

crowned pigeons, white fronted :

capuchins (an adorable species

of monkey), Schmidt's guenon ;
(another monkey species with: .

22 distinct vocalizations) and
the black tailed prairie dog -
interestingly one of the 2,000

' species of rodents, not actually

any type of dog.

‘Another species of rodent is
the Capybara — a semi aquatic
animal weighing up to 154
pounds with six inch incisors. °

denen eeeenecegeaeceeeereceenecscseseneesssecencees ede eeeedenees

* The price to see all of
these exquisite animals
ranges from under $10 for
Bahamians and under $20 for
tourists. All children under
four years old enter for no
admission. To find out more
about the Ardastra Gardens,
visit. www. ardastra.com or
phone 323-5806.

First Name:
Title:
Work:
P.0.Box:



Exact Street Address:

Frederick Street.

~ © SONIA ISAACS SCHOOL OF ART:
The students of Sonia Isaacs
School of Art will hold an exhibi-
tion at Anthaya Art Gallery, Cable
Beach, next to City Markets, from
November 15 to November 22.
The opening reception will be held
on Saturday, November 15 from
2pm to 7pm. The gallery's hours

_ are 10am to 6pm Monday through

_ Saturday. For more information
call 327.1045

STUDFENT& Or ,
Teele] O) aad

House #

House Colour:
Requested Start Date:

House Name:
Type of Fence/Wall:



© VISION:

Sabrina Lightbourn presents her new Vision at the Lad-

der.Gallery at NPCC. No matter what your schedule is

let us be the first'on your list.

° AT THE HUB: Ce a
Groh id Nov 4 - The aang volume of the Green Talk se 5 on P x ‘ C Xi °. a aL

series

Oct 23 - Bahamas Human Rights Network Public meet-
ing

Oct 30 - A writer/artist forum


:-




better future

MOVEMENTS for environmental and social con-
cerns are what take up artist Sabrina Lightbourn's
days. With all the crime and violence, and land and sea
degradation that surrounds each human being, she
wants to know - if what you see is what you create, why
does she see "the trees being cut? The coral dying?
Why does my heart cry;when I hear another man shot?
Why can't I just see it...perfect?"

In "Vision", Sabrina's only solo show for the year,
currently being held at the New Providence Community
Centre, the artist took ten profile shots and placed them
on plywood — an unusual backing for photography that
makes reference to the earth's disappearing raw materi-
als, and the human race's connection to the earth and
pines. "It gives the show a feel of something natural,"
Sabrina said, "there is no gloss and no glass to hide
behind."

Her photographs show people across a wide demo-
graphic, including young adults who are off at school, suf-
fering children who live in the ghetto, a Rasta, Haitians,
academics and new mothers.

Sabrina has been practicing art for her whole life, but
really only taking it seriously in the last eight years. She
went to Rockport College in Maine four years ago to
study photography formally and now shoots weddings and
other commercial jobs, as well as having one show per
year. : '
"With these pieces, I wanted to create time for people
to stop and contemplate the world and their vision for it,"
she said. She wanted to put into motion a movement
towards something better. At the end of it all, she said, we
all want the same things — safety and for us all to get
along.

In her portraits, each individual's vision is written
below the piece — satisfying Sabrina's vision of bringing
people together and creating a positive ripple that sets
into motion an effort towards a better place.

"Those with a clear vision are often more successful in
reaching their goals," the artist explained.

These visions vary greatly in
themselves, all look-
ing at a better place
for us to work
towards.

The young black
boy says, "I wish that
all the gangs and
crime would stop in
our country and we'll
have a better place to

would be friends".

An old Rasta man
says he hopes for "bet-
ter understanding
between humans. And
it takes a Godly vision
regardless of religion. If
you are a Muslim, Rasta
or Christian we all have
a god of love. We need
peace. We sing about it,
we preach about it, so
let's act upon it".

SEE page 12









live and everybody ©



Gardens
See page 13





lm By JEFFARAH GIBSON

UNFOLDING the stories
behind worn and tattered
canvases, fading paint, and
damaged paper, is what
Sharon Aitken, owner of
Sharon’s Restorations, aims
to do as'she combines her
knowledge of chemistry and
artistic ability to restore pre-
cious and valuable art
pieces. Through her efforts,
she brings about an accu-
rate narration of the art
piece just as it was when
the story in the painting was
first created.

In her line of work, having advanced artis-
tic talent, has played to Ms Aitken's credit.
Her natural born, genetically coded art abil-
ities have made restoring paintings second
nature. Along with her intrinsic leanings how-
ever, Ms Aitken has studied at a number of

universities which helped mold and enhance
her talent,

SEE page 12









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