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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FRIDAY, NOVEMBER 7, 2008

BIGGEST!!!

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‘Court all

rape conviction

oa capture
- her assailant

A RAPE victim who helped

police trap and captureherrapist2"=

can rest a little easier knowing that
the Court of Appeal has upheld.
the conviction of her assailant.

The court, in a judgment deliv-
ered by Justice Emmanuel Osade-
bay, affirmed the conviction of
Gregory Dean Johnson, and dis-
missed his appeal. .

‘Johnson was convicted on June
26, 2006, of rape and armed rob-
bery and was sentenced to jail for
18 years imprisonment for armed
robbery and 7 years imprisonment
for‘rape to run concurrently.

Recounting the events leading
to the ay peal, the ruling said that
the victim and a friend went to a
night club on West Bay Street.

‘They remained there for about
45 minutes before leaving.

While getting into the victim’s
car they were approached by two
men who grabbed them at gun
point and pushed them into the’
back seat of the vehicle.

The men then drove off with
the victim and her friend, in the
car. Shortly after, the men put the
victim’s friend, in the back trunk.

After the victim and her friend
were dropped home and the mat- ©
ter was immediately reported to
the police who took the victim to

SEE page 10

































WHY ARE

COMPANIES SWITCHING TO

Se

Faster +’











PM to speak to nation
on economic problems

m@ By CHESTER ROBARDS |

will seek to offer Bahamians a
Tribune Staff Reporter 1

way forward: ‘ te
“When America’s economy. is



PRIME Minister Hubert Ingra-
ham will speak to the nation on
Monday night to address'eco-
nomic problems facing the
Bahamas, he told reporters yes-
terday.

He said he will set out the
backgrounds of the problems fac-
ing the Bahamas-and the US and

sO MANY

hurting the Bahamas will feel
great pain,” said Mr Ingraham.

“We are feeling the impact
here in the Bahamas in a very
substantial way.

“People are working one and
two days a week, many are not
working at all, some have been
laid. off, others will be laid off.

“Tourism is. in trouble now,
because the economy of America
is in trouble now and it’s not only
America’s economy that is in
trouble, the world’s economy has

| been affected and the Bahamas

will feel it strongly and it will cost
us dearly.”
. Some have criticized the fits
“Minister for not addressing the
economic crisis earlier, however,
the government has in the past
weeks unveiled plans to assist
Bahamians in this time of finan-
cial hardship.
Recently government increased
the amount of aide Social Ser-;
vices will distribute to those seek-
ing assistance and just last month
Mr Ingraham revealed an outline

to assist individuals in danger of
defaulting on their mortgages.

SEE page 10.

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Felipé Major/Tribune staff

PRIME MINISTER Hubert
Ingraham stands with Matteo
Alliata and his mother Mrs

- Karen Alliata at the unveiling.of
Coin of the Realm’s historical.
site plaque: Looking on are
Marsha and Michael Stewart
and Juliette Alliata

mi By CHESTER ©
ROBARDS ~
Tribune Staff

Reporter _—





























PRIME Minister Hubert
Ingraham yesterday
implored Bay Street busi-
ness owners to revitalize
their retail spaces as. he
spoke at the unveiling of a
plaque dedicating the Coin’:
of the Realm’s building as
an historical site.

Officials of the National

Register of Antiquities,
Monuments and Museums |.
discovered that the build-
ing, which is made of lime-
stone, was once ‘used as a
gunpowder magazine and
was constructed in the
1700s.
It is believed that it may
have stored ammunition
for old Fort Nassau which
once stood where the
British Colonial Hilton is
today. '

According to the store’s
general manager, Mrs

ih



A ae ua



PM plans to appoint |
senator to replace —
Anthony Musgrove |

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

PRIME Minister Hubert Ingra-
ham said he plans to appoint
another senator after consulting
opposition leader Perry Christie
‘ to replace the seat left vacant by
Anthony Musgrove following a
Supreme Court decision that
ruled the senator's ee gee eee
. was invalid.

Yesterday Attorney General
Michael Barnett told The Tribune
his office was in ane process of

NASSAU 7AM MON

drafting an fake to the fifiing,
however Mr Ingraham said his
new appointment will not hinge
on the outcome of that motion.
He added that after the ruling

he sent a letter to the treasure,
president of the senate, the sen-
-ate's clerk and the governor-gen-
eral informing them of the ruling.
Additionally, he instructed the
treasurer to discontinue the pay of
Senator Musgrove with effect
from November 4 — the

’ before the ruling.

SEE page 10 3

INSURANCE MANAGE EMENT |
(BAHAMAS) LIMITED
INSURANCE BROKERS & AGENTS|

a iio

eee

erat Utes

m@ By CHESTER ROBARDS
Tribune Staff Reporter

ine TIMES EST



‘TROPICAL Storm Paloma is not expected to affect New Prov-
idence hotels, which have been suffering low occupancy rates for

months; according to hotel executives.

Senior VP for external affairs-at Crystal,Palace, Robert Sands;
said yesterday that they have not seen any affects on reservations
as yet because of the impending storm.

“Based on the latest advisory, New Providence doesn’t seem to
be in its path, so we’re going to monitor it carefully,” he said.

‘lighted their key

’ Senior Justice Ani-

SEE page 10
- Marco City election | _ Missing teenage
court case now in :
the hands of jud es ‘ol returns home
e POLICE said yesterday that
@ By MEGAN | : : Gabriell Miller, a 13-year-old
REYNOLDS : student of LW Young, who
Tribune Staff .? went missing on Sunday night in
Reporter -? the Imperial Park area, has
a : been found. ‘
THE Marco i According to the girl’s arate
City election case : father, his granddaughter asked
has been left to the } ; him for permission to go across



judges after lead mavareo
attorneys for Laing

Zhivargo Laing
and Pleasant
Bridgewater high-

; the street and visit a neighbour,
:- “She said: “Daddy, I’m going
: across the street to the next
; door neighbour.
: “So I said OK. But when I
; got there, it was a whole other
'} story.
: _ “Had I known that, I would
; never have let her go, because I
: am very protective of my grand-
: daughter,” he said. .
: _ Now, the family is celebrating
: Gabriell’s return home.

arguments yester-
day.
Supreme Court



ta Allen and Jus-
tice Jon Isaacs
were asked to con-

Pleasant
Bridgewater

sider when making
their judgment the admissibility |

Pecan



~ of evidence regarding the cred- :

SEE page 10 SEE page 10

@ ETIENNE AIGNER

Clarks

Bern. BAND@LING : AK

—

|
|
|
Kids NUNN |
BUSH .

SAM@LIEBY Litgsiyide

NIN ne esr fasy Spirit
| NA Jumping-Jacks,

? “We are all happy that Gabriell

is back and we are all fine, and

; she is happy to be back home,”
; said Gabriell’s grandmother,
; Agnes Miller.



bd
ae

Madeira Shopping Plaza - 328-0703
Marathon Mall - 393-6113
RND Plaza, Freeport - 351-3274

All Major Credit Cards Accepted. Ne Debit Cards. fi



PAGE 2, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



LOCAL NEWS



Twenty- -seven packages of
cocaine are confiscated —

POLICE in Grand Bahama yes-
terday reported the confiscation of
over 27 packages of cocaine in the
area of Pinder’s Point.

Chief Superintendent Emrick
Seymour said that officers were dis-
patched to an area in Pinder’s Point
in response to a complaint.

On arrival, the officers had rea-
son to pursue a white Nissan Max-

ima, which was driven by anâ„¢

unidentified man, police said.
The driver eventually abandoned
the vehicle in the area of the
Church of the Good Shepherd and
ran into nearby bushes holding
what appeared to be a high-pow-
ered firearm in his hand. The offi-
‘cers on the scene were joined by
additional reinforcements who were
dispatched to assist in searching the
. bushes for the suspect.
On examining the abandoned
vehicle, police discovered a box in
the back seat containing 27 pack-

ages of suspected cocaine. An addi- .

tional two packages were found on
the ground near the vehicle.

All of the suspected drugs have
been retrieved and are in the pos-
session of the police, who are
searching for the suspect and con-
ducting an extensive investigation
into the matter.

@ THREE men.in Grand
Bahama were taken into police cus-
tody after a black Smith and Wes-
son 9mm pistol was discovered in a
vehicle around 3pm on Wednes-
day.

According to Chief Superiniten-
dent Emrick Seymour, police were
called to the Kennedy Circle area
of Freeport, where “illegal activi-





i -milovin’ it

ties” were reportedly ‘aitae :

place.

manner.

“As a result of the search the }
police recovered a black Smith and :
Wesson 9mm pistol and three live :
rounds of ammunition inside of the :
vehicle. As a result, the three occu- }
pants, all residents of Freeport, :
Grand Bahama, were arrested and :
have since being charged in con-.;
nection with this matter,” Mr Sey- :

mour said.

Additionally, at 4.28pm on:
Wednesday, police in the Eight :
Mile Rock district responded to a }
report of two. men walking along :
Batelco Corner, Jones Town, with i

guns in their possession.

Arriving at the scene, police saw
two men, one of whom was carrying :
a black bag. Upon seeing the offi- :
cers approaching, the two men start- }

ed to run.

The officers gave chase and }
caught one of the suspects a short :

‘ distance down the road. On check-
ing the bag in the suspect’s posses- }
sion, the officers discovered one }
black and silver P345 Roger 9mm :

pistol and a gray, black and silver, :
40 Ruger P-94 pistol along with one }
magazine with seven 0.40 live |
rounds of ammunition.

A Jones Town, Eight Mile Rock, :
resident was taken into custody in|
connection with this matter.

He is expected to be formally’
charged. The police are searching
for the suspect’s accomplice i in fis |
matter.

Insurance Agency

“At the scene the police had rea-
son to stop and search a black Hon- :
da Accord with three black males :
who were acting in a suspicious ;

Annual cri

me prevention

onference is launched

Reginald Fe

ayn



@ By LLOYD ALLEN
Tribune Staff Reporter



WITH many business owners unsure about
profits going into the holiday season, and with
the added threat of desperate criminals targeting
businesses hoping for a quick buck, the Chamber
of Commerce has announced the launch of its
annual crime prevention conference.

Speaking from Police Headquarters yester-
day morning, Chamber of Commerce president
Dionisio D’Aguiliar said that on this the forth
anniversary of the workshop, organisers decided
to use the theme: “A Practical Approach.”

Mr D’Aguiliar said that in previous years, the

general focus was on violent crimes affecting

businesses, however this year organisers are
looking at the issue of white collar crimes as a
leading threat to businesses.

Mr D’Aguiliar said: “There is no doubt that
the cost of internal or customer theft is far more
costly to businesses, than the traditional violent
crimes like armed robbery.”

Set to be held on November 13, Mr pens

iar said that the day-long conference will
look at a cross-section of anti-crime measures,
including surveillance systems, workplace
crime prevention, crime trends, and fraud pre-
vention.

Commissioner of Police Reginald Ferguson,
also speaking at the press conference, noted
that since the introduction of the programme,

“~“there-has been-a significant reduction in crime

against businesses — because owners are now
more aware of some of the habits of criminals.

Adding that the police have from the start
been supportive of the programme, the com-
missioner said he hopes business owners being
educated on white collar theft can walk away
with a comprehensive understanding of various
action plans that can help them avoid becoming -
victims.

Along with the.Chamber er Commerce and
the police force, the Bahamas Crime Stoppers
agency has also offered its support to this ini-
tiative, which is hoped ‘to draw in more than
100 business owners and operators from
throughout the community.

Immigration minister meets with the
Bahamas Financial Services Board

‘ Colina General



ney met with executives of the

‘industry, the second pillar. of .
‘the economy...

@ By LINDSAY THOMPSON



MINISTER of State for
Immigration Branville McCart-

Bahamas Financial Services
Board on Thursday to discuss
issues relevant to the continued —
growth of the financial services

‘The industry’ 'S ; requests for”
work permits for foreign work-
ers were discussed during the
meeting, which took place at
the Department of ummigration
on Hawkins Hill.

the construction area, and
through ongoing employment
and engagement with Bahamian
businesses.

“So we really want to make
sure that there is a policy and
process that we can communi-
cate to these individuals around
the world that it is transparent,"
that speaks to a timeline and
encourages them to consider
the Bahamas amongst many
options that they have and so
we are really about growing the
economy of the Bahamas,” Ms
Warren said.

“The Bahamas Financial Ser-
vices Board really wants to

Deputy Prime Minister and
Minister of Foreign Affairs
Brent Symonette; retired direc-
tor of Immigration Vernon Bur-
rows; Wendy Warren, chief
executive officer and executive
director of BFSB and Craig
Gomez, BFSB chairman,
attended. :

“The fact that ‘we are having
this meeting shows that we are
committed to improving the

-financial services industry in the

country,” Mr McCartney said.
He said government is aware
that the financial services indus-
try is the second pillar of the
economy and has “done a pret-
ty good job” in looking at mat-
ters relative to the sector.
“The idea is that we are here
to provide a service and to be as
accommodating within the law
as possible. We also want to get
rid of some of this bureaucracy



PUN em LO Or nT,

gration is “a very important”
agency for purposes of finan-
cial services, primarily in the
issuance of work permits.
“They need.to-have- experts
and persons who are involved

“with corporate brands that’ we
have in the Bahamas to join ©

with us in developing the indus-

try,” Ms: Warren said.

She said a major priority for
BFSB is the use of permanent
residencies_as.a_tool for eco-
nomic development % and there
are many avenues from which
this can be pursued.

“Firstly, directed at the finan-
cial services industry. In many
ways, these individuals would
do business in the Bahamas and
where they have a permanent
residency here, the.amount of
business and ties to our industry

work with the government in
any number of matters to
ensure that policies are ones
that we are able to. communi-
cate to potential clients and that
the system ‘operates in such a
way that‘we can°deliver com-*
mitment’ to these individiials,"”’
so that our reputation ‘for Beye *
a high-quality destination is pre-
served,” she said.

The government instituted
the Bahamas Financial Services
Board in 1998 “to promote a
greatér awareness of the
Bahamas’ strengths as
an international financial cen-
tre”.

The BFSB represents and
promotes the development of
all sectors of the industry,
including: banking, private
banking and trust services,
investment funds, capital mar-

. that the epaninent of Immi-

and be more efficient in our
process,” Mr McCartney said.
Ms Warren acknowledged

increases,”.Ms Warren said.
She noted that these individ-

uals bring important jobs and

contributions to the industry in

kets, investment advisory ser- -
vices, accounting and legal ser-
vices, insurance and corporate
and shipping registry,

Group praises government over sea turtles.

A LOCAL activist group is applauding the gov-
ernment for backing a proposal to ban the har-
vesting of all sea turtles in the Bahamas.

Ministéer-of--Agriculture. and Fisheries Larry -
Cartwright announced this week that as of January
1, 2009 the commercial harvestitg of turtles will
become illegal. He said that harvesting turtles for
any reason will be banned from April 1 next year.

However, activists say the proposal will not be
binding until it is made into law. °

The initiative is “a step in the right direction,”
according to Debbie Krukowski, spokesperson for
the Bahamas Sea Turtle Conservation Group.

Now, the group is urging concerned Bahami-
ans to intensify letter writing campaigns and sign a’

petition to give the proposal “the extra steam it ~

needs” to be quickly approved by parliament.

“We want to remind everybody that this legis-
lation is only a proposal, it is not a done deal,” ' said
Mrs Krukowski.

“Group president Jane Mather has baliéa the
killing: of tirtles‘in the Bahamas “a national dis-
grace.”

“Fishermen bring the creatures ashore with the
flippers pierced and tied with straw. They are rou-
tinely dragged on to boat ramps and turned on
their backs and left to suffer for days in the hot
sun,” she said.

Five species of marine turtles are found in

Bahamian waters: Green,. Lospethend: Hawksbill, :
Leatherback and Olive. ~ . attests

All species are protected during the closed sea-.
-son between April 1 and July 31, and the taking of
turtle eggs is prohibited by law.

There is also full protection for the endangered
Hawksbill turtle and a minimum harvesting size for
Green and Loggerhead turtles.

“The legislation is a step in the right direction
and we would like the government to pass this
legislation ‘as Sori as possible,” Said a Krukows- °
ki.

In recent months, the group’s campaign to ban

“the killing of sea turtles has gained momentum.

The group launched a redesigned website at:

“Www.saveourseaturtles.com to support their inter-

national advertising programme.

The site includes information about sea ie
articles, photos showing the inhumane treatment of
turtles and links to other sites.

Thousands of people have so far signed a peti-
tion, which can be found at: www.Caretopeti-
tion.com, to end sea turtle killings, and more than
300,000 people have seen the peliny ad campaign,
according to the group.

Bumper stickers announcing stipport for the
campaign can be seen all around New Providence,
and the group is reportedly sending out press
releases to news agencies around the world.



ee ee re re Ce



THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 3





© In brief

Police probe
fraudulent
cheques
allegations

POLICE are investigating
claims that a Bahamian man
is passing fraudulent cheques
at local foodstores through-
out the capital, The Tribune
has learned.

According to reports
reaching this daily, the con-
artist uses‘a system where he
pretends to purchase about
$150 worth of groceries and
presents a cheque for a sub-
stantially higher value, such
as $5,000 in one case.

The unwitting teller is
expected to then deduct the
payment for the groceries
and cash out the remainder
of the cheque.

One local foodstore is said
to have been the victim of
this charlatan to the tune of .
more than $10,000 so far.

The public is asked to
remain vigilant-in this regard
and report any suspicious
activity to the nearest police
station.

Government ‘does
not expect to lay off

BTC staff before sale’

JULIAN Francis, former
governor of the Central Bank
and executive chairman of
BTC, said government does
not expect to lay-off any staff
from the telecommunications
company leading up to its sale
which is still scheduled for the
end of this year.

Following the sale, however,
such managerial decisions will
be left up to the new owner,
Mr Francis said.

When asked about any pos-
sible firings, he said: “No, I
don’t think so. Absolutely not.
There is no intention, no plan,
whatsoever to do any redun-
dancy exercise before the
sale.”

However, after the sale, Mr
Francis said, the government
has maintained that they will
not interfere in the day-to-day
operations of BTC.

Mr Francis also noted that
government, as a 49 per cent
shareholder, will maintain a
presence on BTC’s board of
directors and will have influ-
ence over a number of issues.

“The government will

Ex-Central Bank governor
offers partial reassurance

Julian Francis

reserve a sort of veto right.
And that is normal; if you are
a 49 per cent owner you will
probably have some say on



big issues such as major capital

expenditure, dividend issues,
the question as to the eventu-
al continued ownership of the
major shareholder — as to who
he can sell to, those kind of
things.

“But the government of the
Bahamas has made it very
clear. It does not intend to run
BTC from the day of the sale
onward. BTC is going to be
run by the new owners and
the government will not inter-
fere with that. It will treat
BTC like any other business in
which it has an interest.

“Tt will have its proportion-
al representation on the board
of BTC as a 49 per cent owner
and will participate in the deci-
sions at that level. But it will
not interfere, it will not seek to
influence major issues from
the perspective of govern-
ment,” he said.



Jamaican reggae star Mavado was
a victim of discrimination — claim

@ By ALEX MISSICK

JAMAICAN reggae star
Mavado was “unjustifiably dis-
criminated” against by the Immi-
gration Department, concert
organisers Sigma Management
said yesterday.

The promoters expressed their
disappointment over the author-
ities’ handling of Mavado, who

was headlined to perform at last.
weekend’s Millennium Count- ..

down Concert. They claim they
lost a massive amount of money
when the government decided to
block the artist from entering the
country. The promoters issued a
press statement saying that Mava-
do, who has broken no laws in
the Bahamas, was poorly treated
and unjustifiably discriminated
against upon arrival at the Lyn-
den Pindling International Air-
port on Thursday, October 30.
“He was not permitted to enter
the country or given any reason
why he couldn’t enter as an enter-
tainer or-as a tourist. He was
escorted back to the aircraft when
he arrived at the immigration
counter and suffered embarrass-
ment and humiliation as he was
singled out among those arriving
‘on the flight and handled in a
degrading fashion. This was most
unprofessional and unaccept-
able,” Sigma Management said.

Sigma Management indicated _

they were further disappointed
in the stance of the State Minister
for Immigration Branville
McCartney, who did not give
Mavado or the promoters a fair
hearing regarding his perfor-
mance at the concert, but instead
listened to the detractors of ihe
event.

“Tf he had done so or even
afforded the promoters an oppor-
tunity to address the matter, he
would have gathered the facts of
the matter. Mavado was con-
tracted by Sigma Management
and Downsound Records to per-
form three specified songs at the
concert. None of which promoted
any explicit language whatsoev-
er,” Sigma Management
explained.

- Promoters said this.is not the
first time Mavado has entered the
Bahamas to perform.

“Mavado was given permission
by the same Immigration Depart-
ment and allowed to perform in
the Bahamas on three previous
occasions, including a scheduled
concert at Arawak Cay three
months ago. The only reason he
didn’t perform at the time was
because the concert was ‘rained
out. The detractors were nowhere
to be found,” the promoters said.

Sigma Management noted that
as a result Mr McCartney’s deci-
sion, a vast amount of money was
lost that could have been shared
among local Bahamian charities,
government run schools and the
Christian church.

“We timed our events such as
these concerts for the past eight
years to help generate some much
needed monies in the local econ-
omy of the Bahamas and to ease

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the financial woes of many local
Bahamians just before Christmas.
We choose to spend big bucks
and long dollars at this crucial
time of the year as producers of
these concerts while other pro-
moters are shutting down pro-

ductions. We do not believe we

are deserving of the poor treat-
ment we have received from our
government authorities,” the pro-
moters said.

The promoters said they
believe that the root cause of
crime is the poor economic situa-
tion — not music — and therefore
every year they attempt to cre-
ate an environment where the
economy is simulated. ~

“The Millennium Countdown

‘concert series has again this year,

as like in previous years provided
jobs for thousands of Bahamians
in tourism, transport, construc-
tion, security, vending, produc-
tion, media, public relations
advertisement, radio and TV sta-
tions shipping; limo services, local
artists and disc jocks, airlines,
hotels, entertainment, clothing
stores, barber and beauty salons,

shite
Stock

Fabric

(in tent)

“He was not permitted to enter
the country or given any reason
why he couldn’t enter as an
entertainer or as a tourist.”



clearing and cleaning contractors,

:.,fencing,.ticket sales,,courier ser-,, ;,
«+rvices, wine and spirit merchants
and many others. This is a big.

business that brings a great finan-
cial windfall to our Bahamas. We



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Sigma Management

, have, been most responsible as

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Obama victory will
help shatter racial
stereotypes, says. PM

BARACK Obama’s extraordi-
nary victory at the polls will go a
long way in shattering racial
stereotypes in America, Prime
Minister Hubert Ingraham said.

The day after the American
election, Mr Ingraham transmit-
ted a letter to President-elect Sen-
ator Obama, congratulating him
on his historic victory.

“The government and people
of the Bahamas join with millions
around the world in extending
congratulations and best wishes
to the new American administra-
tion,” he said.

Mr Ingraham said that the
President-elect’s success is a
“quintessential American story
of victory over tremendous odds.”

“This has not been a victory
just for Senator Obama, Vice-
President-elect Senator Joseph
Biden and the Democratic Par-
ty. It is truly a victory for Ameri-
ca which demonstrated to the
world that, notwithstanding its
history of slavery and discrimina-
tion, it has peacefully moved
beyond race in selecting its pres-

PMC CORT]



Una Ne neuen

ident. This will strengthen the
special place that America holds
in the minds and hearts of free-
dom-loving people everywhere,”
Mr Ingraham said.

“The Bahamas has enjoyed a
special, warm and close relation-
ship with successive US adminis-
trations. Our national interests
are closely intertwined with those
of the United States of America,
our nearest neighbour and chief
trading partner. And so we look
forward to a continuation of this
special relationship that has long
existed between our two coun-
tries.”

_ The Secretary General of the Organisation of American
States José Miguel Insulza yesterday sent the following letter
to the president-elect of the Unites States Barack Obama:

Dear Mr president: -elect,

Please accept my: ‘warmest songiatuldtione for your extra-
ordinary election to lead:the United States of America over

the next four years.

Your election raises immense hope in the- Americas. As E
we face major common, challenges, we at the Organisation of |
American States, which brings together the 34 democracies » |;
of the region, look forward to working with you to promote.
peace, justice, security and prosperity in the Western Hemi-

sphere and in the world.

Your candidacy and the enormous support you received
from every sector of the US society shows us the potential
for the democratic system to ‘evolve and embrace the partici-

pation of all.

We look forward to joining you in opening a new chapter
of co-operation and partnership in our neighbourhood.
Under your leadership, the United States, a crucial member
of the Organisation of American States, will effectively use
modern multilateralism and strengths of our hemispheric
community to address our common challenges. ©

We have a unique opportunity for a positive agenda in the
Americas. You have an . open invitation to come to our

’ Please, accept Ni PE
highest regards. me

tony and Whteler ware jus: Sentenced to 150 hours mentoring Lax

iC. NEVER OUT OF STYLE: |

~The he Mall-at-Marathon _
“BOX OFFICE OPENS AT 10:00 AM DAILY .

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‘



PAGE 4,; FRIDAY, NOVEMBER 7, 2008

SEMIS NUT Sake TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

Shirley Street, RO. Box N-3207, Nassau, Bahamas
Insurance mMapapement Building,, PO. 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

Change has come to America

NEW YORK — We got accustomed,
during the long presidential campaign,
to hearing the word “historic.”

It was a word that applied to the
length of the campaign, the 50-state
competitiveness of the Democratic pri-
mary, the vast sums of money involved,
and the candidacies of Barack Obama
and Hillary Clinton. On Election Night,
it was said that history would be made
“either way”; John McCain, after all,
would have become America’s oldest
president-elect if voters had chosen him.

There is, of course, something historic

in the nature of any election.

By electing Barack Obama, howev-
er, America made a choice that res-
onated to this nation’s deepest founda-
tions.

Four hundred years ago, the first
. Africans arrived on our shores in chains.
And 232 years ago, when our nation’s
founders declared independence from
the British on the basis of Enlighten-
ment principles of the universal rights of
man while leaving African-Americans in

bondage, slavery became our nation’s s

~soriginal sin: = - wines

Ever since, Abitrican history has ieee

inextricably tied to race.

One hundred forty-five years ago,
blacks finally gained emancipation as
the question of slavery tore our nation
apart.

Fifty years ago, the modern civil-rights —

struggle exposed cultural fault lines that
inform our politics and our national dis-
course to this day.

‘Some speak of Sen. Obama’s election
as heralding a “post-racial” America.
Such talk, as hopeful and well-inten-
tioned as it may be, obscures the very
real truth that race matters still, and
that hard work remains to realize Dr.
Martin Luther King Jr.’s dream of a day.
when all Americans will be “judged not

by the colour of their skin but by the

content of their character.”

What this election does mark is a new
and dramatic turn in the American sto-
ry. The success of the Obama candidacy
has opened a chapter that was long
anticipated but sooner coming than most

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dared hope. No one knows how the sto-
ry will develop from here, but one can
sense that one of its most immediate
and healthy effects.for our democracy
may be a new sense of enfranchisement
for African-Americans.

One saying that circulated during the
campaign went, “Rosa sat so Martin
could walk; Martin walked so Obama
could run; Obama runs so our children
can fly.”

Or as President-elect Obama asked
at the outset of his Election Night
address to the huge crowd gathered in
Chicago’s Grant Park, “Is there anyone
out there who still doubts that America
is a place where all things are possible?”

None of this is to deny the politics of
the here and now.

This election took place against the
rough-and-tumble of issues that have
little to do with race and everything to
do with an America where people are
hurting and anxious in the face of
tremendous challenges at home and
abroad.

.The,fact that the campaign’s focus

remained consistently on economics
rather than racé speaks itself to’ the ‘dis-
tance this country has come, and this
country will return soon enough to par-
tisan feuding and hard-fought debates
over policy.

There will be plenty of analysis in the
days and weeks ahead about the politi-
cal ramifications of the victory won by
Obama and his fellow Democrats.

But every once in a while, something
happens that is momentous enough to
invite a long, deep pause for reflection.

The election of this nation’s first
African-American president merits such
a pause. Years from now, you will
remember where you were on Nov. 4,
2008, not because of what it meant for
Barack Obama and his supporters, but
because of what it meant for our coun-
try. In the words of the’president-elect,
“Change has come to America.”

(This article was written by Dan Rather
of Hearst Newspapers c.2008).



e need to know
when to put
politics aside

EDITOR, The Tribune.

In his book entitled Philos-
ophy and opinions of Eugene
K Robinson the statement is
made: “Perhaps the politician
should ask. himself, What is
wisdom? Or What is Histo-

ry?” Should it be written, the

FNM and its Prime Minister
have brought about a change
in our Bahamaland.

Fellow Bahamians, history
is defined as a continuous, sys-
tematic narrative of past
events as relating to a partic-
ular people, country, period
or person, etc.

Wisdom is defined as schol-
arly knowledge or learning

. and having discernment or

insight.

Getting straight to our
point, over the past years the
Bahamas as a country has suf-
fered many fears and losses
because of acts of nature,
namely hurricanes.

After each disaster I can
recall many countries coming
to our aid in bringing relief,
and amongst them were the
Turks and Caicos, and other
neighbouring countries.

First, we would like to apol-
ogise for our fellow Bahami-
ans who are speaking out in

ignorance more than anything

about the latest action of our
Prime Minister in rendering
financial assistance to the likes
of a ravaged Haiti and Turks
and Caicos.

Next, we would like to
inform them that while no
government will be perfect we
are mature enough that we
ought to be able to commend
any of our governments when
they perform a complimenta-
ry act of love while performing
their duty.

The Holy Bible declares
that we ought not to be
deceived, our God will stand
by His word and whenever we
do a good deed we will receive
it back many fold in our time
of need.

So because of this law and
the action of the Prime Minis-
ter, not only will he be blessed,
but also the Bahamas as a
country.

Truth is all we have to do

is look around, ask Eleuthera, .

Grand Bahama, Acklins
and our other brothers and sis-
ters.

We need to know when to
put politics aside.

The present government

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ought to be commended for
all the good they are trying to
do at present, especially for
the delay of not rushing off
the illegal immigrants back to
their home.

To show our human side
we are tired of them coming
here and taking our jobs, dis-
respecting our country and

‘taking the little that should be
_ given to our struggling peo-

ple, but the Prime Minister
made the decision and truth
be told it’s a righteous stand
because we wouldn’t like it
should Canada and Jamaica
ship our people back home
without care or consideration
of their welfare.

Yesterday was Opposition
Day in the House of Assem-
bly, and we decided that each
would take an assignment and
follow up on issues, events and
articles being voiced in and
about the Bahamas.

My assignment was the
House of parliament and I
must admit I was impressed
with the attendance, well of
course:the MP for Fox Hill
was noticeably absent, (but
what else is new?).

However he did join us in
the 3pm session.

On a more serious note I
was also impressed with the
leader of the opposition, Mr
Perry G Christie, when he
shared about'the effect and
real burden that unemploy-
ment is having on our
Bahamian people.

Mr Christie went on fo
share that it is hard for any
family when a parent is laid
off from a job or career at age
forty or forty-five and has the
burden of paying, mortgage,
rent, insurances and other bills
of convenience.

Mr Christie did not stop
there, he brought to the atten-
tion of the House that it’s a
reality that a parent at that
age will find it a task to get
employment again because
the employers today are more
likely to choose a younger per-
son in their stead.

As Mr Christie spoke I
could not help but mentally
reflect on the people above
the age of thirty out there who
are not being given a second
chance by our government by
ridding them of those spoilt
police records.

Now your spouse comes
home and not even with a
decent package, again you feel
robbed by the system and the
government tells you to get a
lawyer, wow if it was that easy.

Mr Prime Minister, that
family has just been added to
your hunger list and as we
shared earlier, if we continue
to create enough hunger it will
force many to consider crimi-
nal acts.

The law of sowing and reap-
ing applies here also.

We would like to suggest

that more Bahamians visit the °

House of Assembly or watch
it on television to both learn

and speak in Wisdom when
confronting government or
speaking on issues of today.

We would like to thank you,
the people for your show of
strength, foresight and com-
mon sense judgmen* on re-
electing Mr John Pinder and
his union for another term.

We think it’s poor when any
union or ministry, etc, is
formed to gain political
mileage. ©

It is a further disgrace when
people are seemingly seeking
office for the prestige and ben-
efits rather than for the bet-
terment of our people.

We could not help but take
notice of the arrogance of Mr
Godfrey Burnside, not to
mention the lack of team spir-
it and connection to the peo-
ple by Kenneth Christie of the
Bahamas’ Public Service
Union. What were they think-
ing, Christie for president!

Mr Prime Minister, mem-
bers of both the govern-
ment and the opposition, fel-
low Bahamians, we are by no
means a group of people seek-
ing to find fault in our gov-
ernment, opposition or spiri-
tual leaders.

We are not operating as a
run-away train, it is our prac-
tice to follow protocol in var-
ious cases before confronting
it publicly through the media.

We are here to represent all
Bahamians but to also speak
to-and on behalf of the ones
who are not given a voice.

Mr Prime Minister, every
aspect of protocol was fol-
lowed with the applications at
the Ministry of Education and
as you will discover in the not —
too distant future many of
your Ministers are turning the
people away telling them they
are only there to help their
own (namely their con-
stituents).

In all fairness also to ensure
that proper protocol is fol-
lowed, in the future we would
address our concerns with the
Minister and Minisi.y con-
cerned, enabling them ade-
quate time to address our con-
cerns.

If we feel that the situation
is not dealt with in a satisfac-
tory manner then we would.
proceed to call on the Prime
Minister for assistance also
allowing him adequate time
to address it before exposing
the matter to the public.

These are just steps in
assuring you that your voice
and our voice will be heard.

Until next time strive to live
peaceably with all men and
always be mindful that before
you were a PLP or an FNM
you are and will forever be a
Bahamian.

MINISTER S DAVIS
, Nassau,
October, 2008.

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THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 5



© In brief

Art exhibition
to be held at
Freeport Art
Centre

The Grand Bahama Artists
Association is inviting persons
to take part in its first Thanks-
giving Art Exhibition on
Thursday, November 13, at
the Freeport Art Centre on
Grand Bahama Island. The
exhibition continues until
November 29. The Centre's
hours are Monday to Friday,
9am to Spm, and Saturday
from 9am to 12pm.

Iran leader
offers salute
to Ohama

@ TEHRAN, Iran

President Mahmoud
Ahmadinejad of Iran sent an
unusual letter congratulating
President-elect Barack Obama
on Thursday for his victory in
the American presidential race,
even though the two nations
_ have had no diplomatic ties for -

nearly 30 years, according to the
New York Times News Service.

Ahmadinejad has written let-
ters to world leaders in the past,
including one to President Bush.

‘But this is the first time an Iran-
ian leader has congratulated the
winner of an American election,
at least since the Iranian revolu-
tion.

Diplomatic ties between Tran
and the United States were sev-
ered in 1979, when radical stu-
dents attacked the U.S.
Embassy in Tehran and took
American diplomats hostage.

Iranian leaders continue to
use hostile language toward the
United States, and Ahmadine-
jad had said that he did not
think a black candidate could be
elected because of racial dis-
crimination.

“I congratulate you for
attracting the majority of votes
in the election,” Ahmadinejad
wrote in his message, an Iranian
news agency, ISNA, reported.
“As you know, opportunitiés

that are bestowed upon, humans ,

are short lived,” he wrote,
adding that he hoped Obama
would make the most of the
opportunity. The delivery of the
letter coincided with a move by
the Bush administration to put

._ More pressure on Iran by
adding measures that prohibit
financial institutions from help-
ing Iranian banks, the govern-
ment or others in the country,
the Treasury Department said
Thursday. Previously, American
financial institutions were
allowed to handle certain mon-
ey transfers that might have
directly or indirectly helped
Iranian interests.

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Obama election victory
‘does nothing to address
institutionalised racism’

Bahamian social
commentator
voices caution after
election of black
US president

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

The election of a black presi-
dent in the United States “does
nothing to address institution-
alised racism,” a Bahamian
social commentator said yes-
terday.

Erin Greene, founder of the
gay rights group the Rainbow
Alliance, said that while Barack
‘Obama’s election on the back of
votes from 43 per cent of white
Americans is a definite “blow
for racism”, people should not
be complacent in thinking it sig-
nals its end.

“Just by the election of a non-
white person as president, does
that necessarily imply that
there’s been a deconstruction
of institutionalised racism?”
asked Ms Greene.

In the Bahamian context, Ms



PRESIDENT-ELECT Barack Obama waves after. giving his acceptance

speech at Grant Park in Chicago Tuesday night, Nov. 4, 2008.

Greene said that racism has
“not been a major problem for
a number of years (but) insti-
tutionalised racism continues to
entrench itself in the Bahamian
way of life, in our systems’ and
our.structures.”

She said Obama’s victory

“perpetuates the confusion, the.

haze, that opponents: to the
argument that institutionalised
racism exists use.

“It’s just going to create a
cloud and it will cloud the real
issue that the effect of institu-
tionalised racism is economical
pressure,” said Ms Greene.

Ms Greene said the triumph
of the senator from Illinois on
Tuesday night is. “a necessary
boost to the African diasporic
psyche, to the psyches of all
non-white people, because (he)
is black... (and because he did
so) in a system that was found-
ed upon white principles.”

“But the truth is there’s been

no real gain until everyone |.

could succeed under that same
system — or at least the vast
majority.

“Obama is extraordinary and
we have to PEED EDISS that,” she
said.



Increased efforts to
detain illegal migrants

@ ALEX MISSICK
THE Ministry of Immigration this week stepped up its efforts to cap-

‘ture illegal migrants by placing road blocks in strategic areas of New

Providence.

Minister of State for Immigration Branville McCartney said that
Wednesday’s road block initiative resulted in the detainment of 89
immigrants. Speaking as a guest on the GEMS radio talk show “The
Way Forward” yesterday, Mr McCartney said that Immigration set up
a number of road blocks in a-Haitian village in the Carmichael Road
area} at the Coral! Harbour and Cable Beach round-a-bouts, and at a
construction site in, Charlotteville.

“Out of those persons detained yesterday there was one Peruvian,
one Jamaican, three Ecuadorians, and 84 were Haitians. They were
transported to the Detention Centre for processing,” he said.

Mr McCartney said that six persons were apprehended at the Char-
lotteville construction site, 52 persons were apprehended in the
Carmichael Road Haitian village.

Allin all, 103 persons were taken into custody as a result of the road
blocks. However, 14 of those apprehended had relatives who were able
to present the necessary documents for their loved ones at the Deten-
tion Centre, he said.

The remaining 89 persons, who do not have proper documentation,
remain in custody.

Minister McCartney admitted that many times persons who are
working here legally are picked up by Immigration officers because they
do not have the proper identification with them to justify their presence
in the country. “Persons ought to be equipped so that this doesn’t hap-
pen. They ought to have their necessary documents on them at all times.
Hopefully as early as next year the work permits will be in the same
form as a driver’s licence to make it convenient for those who do

-have the necessary documentation,” he said.

Mr McCartney said as of today, 6,120 persons have been repatriat-
ed to their home countries and his ministry will begin repatriations
shortly for those persons who are currently being held at the Detention
Centre. °

“We did not repatriate for about three weeks, however, that has
resumed and we will continue to repatriate those persons who come
here illegally,” he said.

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“Out of those
persons detained
yesterday there
was one
Peruvian, one
Jamaican, three
Ecuadorians, and
84 were _

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Business owners beef
up security measures

@ By LLOYD ALLEN
Tribune Staff Reporter





IN anticipation of increased crime lev-
els leading up to the Christmas season, busi-
ness owners are beefing up their security
measures.

President of the Chamber of Commerce
Dionisio D'Aguiliar told The Tribune yes-
terday that due to a myriad of factors, it is
expected that there will be an increase in
criminal activity during the holiday season

“All the indicators are there, the econo- |
my is down, unemployment is up, and that
usually tends to lead to an increase in crimes

_against businesses,” he said.

With many local establishments, including his own, being subject
to the threat of theft or robbery, Mr D’Aguiliar said he advises
that businesses take every precaution to deter would-be criminals.

Chris Butcher, a manager at the Robin Hood mega-store, said that
it is especially important for a company like his to increase its secu-
rity in all areas because as times change, it has become more of a
necessity for businesses to protect their interests.

Mr Butcher said that local businesses are much more vulnerable
to crime — from petty theft to credit card fraud — during the holidays,
simply because criminals assume there is a greater cash flow.

“We have decided to increased our in-store security by adding a
sophisticated camera system, and will be increasing our physical secu-
rity numbers within the next few weeks,” he said,

Mr Butcher said that although these measures may not be 100 per
cent fool-proof, it adds an extra level of security, without which com-
mitting a break-in would be much easier.

Cheryl Howard, manager of Alarms Limited, said that other
local businesses have also resorted to security upgrades for the hol-
idays, adding that most are prepared to pay a pretty penny for
added peace of mind.

Mrs Howard noted that throughout the past year, a significant
number of businesses have come into her office seeking surveillance
systems, burglar alarms, fire detectors, and other devices.

She said that although her company’s services can cost anywhere
from a few hundred dollars to well over $2,000, patrons are willing
to invest because they feel an urgent need to protect their interests.

Mrs Howard said her customers include stores, banks and even
churches which, faced with rising costs across the board, simply
want to avoid further economic blows.

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PAGE 6, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



Parents in Bain Town are

encouraged to attend forum

Minister opens
workshop hosted by ©
COB in Great Exuma |

MINISTER of Education Carl Bethel trav-
elled to Great Exuma last week to open the
6th Workshop of the Virtual University of
the Small States of the Commonwealth,
which was hosted by the College of the
Bahamas.

Minister Bethel thanked the workshop
participants for being there, some of who
had come from as far away as Tonga,
Lesotho, and Papua New Guinea.

He said that their presence at.the work-
shop came as a result of a meeting held in
Halifax; Canada in 2000 between the Com-
monwealth Education Ministers who shared
their visions, and crafted plans for improving
the delivery of education, and making it more
accessible.

The minister explained that through participation in VUSSC, the
Bahamas has built a network of individuals from its college and
vocational institutes, secondary schools and governmental agencies,
who have been trained to develop Open and Distance Learning
(ODL) course-materials and resources.

He further explained that the national network by design is
integrated into the wider network of VUSSC countries.

The Commonwealth of Learning (COL) was the obvious choice
to coordinate the VUSSC initiative in the Bahamas, Minister :
Bethel said, as they have been at the forefront of one delivery of
relevant programmes, services, and resources for the wider com-
monwealth.

In closing, Mr Bethel acknowledged that the Bahamas has
already benefitted greatly from’ COL, and said he is looking for-
ward to partnering on future initiatives.

While in Exuma, the minister also took time to visit L N Coak-
ley High School, and. Roker’s Point Primary School. At LN
Coakley, the minister spoke to the students about discipline.

He encouraged them to work-hard and not to be distracted. by
negative influences.

Mr Bethel also met with teachers who expréssed various con-:
cerns about educational matters. Following this, the minister |
took a brief tour of Roker’s Point Primary School, where he met
students and teachers.

KEMP'S FUNERAL HOME LINITED

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

RS ieee
Mr. H. U. Pratt Russell, 86

of Marsh Harbour, Abaco, The Bahamas .
and formerly of Nassau and Hope Town,
Abaco died at Marsh Harbour, on Thursday,
6th November, 2008.

rene)









A funeral service is planned for Saturday,
15th November, 2008 in Nassau.








Mr. Russell is survived by his daughter,
Janice Marshall and her husband Rowland
Marshall ll, grand children, great-
grandchildren and other relatives.

” In Lieu of flowers donations may be made
to Agape Christian School, P.O.Box AB
20760, Marsh Harbour, Abaco, in Memory
of Mr. H. U. Pratt Russell.





Saturday Nov 8th,
2008 at 12 noon

¢ Santa & Snowbear
e FREE Popcorn

¢ FREE Balloons!

THE Department of Social
Services went door to door in
Bain Town on Wednesday hop-
ing to encourage parents to
come to a forum where they can
learn about parenting skills and
improving their relationship
with their child.

“We hope we can at least
impact a few parents to help our
youth. Parent our youth. The
biggest problem is that kids are
growing up themselves,” said
Lequient Bethel, a case’ and
aftercare officer with the .depart-
ment.

“We have an issue with our
juveniles, our kids. And we’ve
found the biggest part of the
problem is that most parents

’ aren’t parenting or don’t know

how.”
According to assistant deputy

director Quentin Gray, the par-

enting forum will involve basic

information about how parents
can improve their relationship
with their children.

“For example, how to
strengthen your relationship
with your child, how to love
them, how to care for them,
how to help them with their
schoolwork, how to do
things with them,” said Mr
Gray.

Interest

The social worker said he

“hopes parents can be encour-

aged to take a more active inter-
est in their children, “what they
are doing and where they are
going.”

Additionally, the classes will

teach parents how to budget, as
Mr Gray points out this is cru-

nomic times, to maintaining a
stable home environment.
“Sometimes when you are
having trouble with money it
can create a problem in the
home environment by creating
an atmosphere where the child

‘ might be inclined to go out and
steal, find ways of looking after

themselves,” he noted.

The forum was the first of its
kind held by the department,
and Mr Gray said that if suc-

cessful, he hopes it can be

expanded and offered to par-
ents in other areas.

The Parenting Forum was
held at the C R Walker High
School last night from 6.30pm to
8pm. Speakers included Sandra
Gardiner, senior attorney at the
Attorney General’s Office and

Linda Craigie-Brown, social .

worker and master trainer with
Parenting Partners Caribbean.



“We hope we
can at least
impact a few
parents to help
our youth. Parent
our youth. The
biggest problem
is that kids are
growing up

themselves.”



Lequient Bethel, a case
and aftercare officer
with the Department
of Social Services

cial, particularly in tough eco-

Minister of State touts benefits
of rehabilitation programmes

@ By LLONELLA GILBERT
Bahamas Information Services

IN AN attempt to control the inappro-
priate behaviour of criminal offenders,
the Department of Rehabilitative and

Welfare Services is striving to provide.

quality rehabilitative services by imple-
menting programmes and sponsoring spe-
cial activities, Minister of State. for Social

Development Loretta Butler-Turner said °

during the Rehabilitation Week chuck
service held at Bethel Baptist Church.

The Department’s agencies seek to
protect society by helping offenders
become accountable for their actions,
encouraging offenders to seek employ-
ment where possible, fostering levels of
higher education and addressing those
persons who re-offend, Mrs Butler-Turn-
er said on Wednesday.

The agencies within the Department of
Rehabilitative and Welfare Services are
the probation division; welfare division;
the Simpson Penn-Centre for Boys, and
the Willie Mae Pratt Centre for Girls.

Mrs Butler-Turner said the theme for
the week, “Rehabilitation: Opens Doors
to a New Beginning”, appropriately
encompasses the mission and role of the
Department of Rehabilitative and Wel-

» fare Services in repairing and improving

the lives of offenders and ex-offenders.

Rehabilitation Week started with a
school forum at the BCPOU Hall that
was aimed at empowering and equipping
primary and high school students with
knowledge and information needed for
positive transformation.

A similar event will take place in South
Eleuthera on November 14.

Yesterday, a parenting forum at C R
Walker Secondary school on Baillou Hill



MINISTER OF STATE for Labour and Social Development Loretta Butler-Turner spoke at the

Letisha Henderson/BIS

Rehabilitation Week church service held at-Bethel Baptist Church, Wednesday, November 5.

Road addressed the topic “The Signs and
Symptoms of Delinquency and How to*
Deal with Them.”

Mrs Butler-Turner said, “Through
rehabilitation, individuals can be restored
to a useful life. In this regard, the church
has always been a fundamental part of
our culture where offenders continue to
seek refuge, spiritual aa and ful-
filment.

She explained that the church has also
helped to foster trust and acceptance
between. the community and offenders
while supporting effective reintegration of
offenders in their communities.

“Although crime has been increasing in
our society, the church is expected to hold
to the belief that people can change,” the
Minister of State said.

“The church is to be commended for

conducting the many programmes in the

institutions and community’ that encour-

age changed behaviour.” ‘
She recommended programmes that

‘the church may want to consider that

would further assist offenders in their
goal to become law-abiding citizens. -

One such example Mrs Butler-Turner
promoted was restorative justice.

She said this process includes the
offender, victim and community.

The church can be effective in restora-
tive justice as it conducts mediation ses-

-sions between the parties and encourage

victim compensation.

Other programmes the Minister of
State recommended included literacy,
budgeting, job coaching/placement, life |
skills training, mentoring and substance
abuse. ~

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LOCAL NEWS



Florida deep-sea
explorers working
on more shipwrecks

@ TAMPA, Fla.

FLORIDA deep-sea
explorers who'struck it rich in
2007 say they they’ve found
two more shipwrecks in the
north Atlantic Ocean, accord-
ing to Associated Press.

Odyssey Marine Explo-
ration filed documents in
Tampa federal court Wednes-
day seeking exclusive salvage
rights to the unnamed wrecks
found more than 300 miles
outside the English Channel.
The company believes both
sites could yield valuable car-
go.

The’Tampa-based company
salvaged what could be the
richest shipwreck in history in
the spring of 2007 in the
Atlantic off Portugal. It
brought home an estimated
$500 million in silver coins and
other artifacts from the wreck
of a Spanish galleon.

The Spanish government is
battling-Odyssey in U.S. fed-
eral court over ownership of

Rising star Anna Faris
to be honoured by BIFF

Actress to receive award
at Atlantis in December

THE Bahamas International
Film Festival announced that
Anna Faris, who starred in the
movies “House Bunny”, “Lost
in Translation, and in the “Scary

Movie” series, will be honoured '

with BIFF’s special rising star
tribute.

The tribute will be presented
by off-shore bank and trust com-
pany Ansbacher (Bahamas)
Limited and Chopard. The
announcement was made by

BIFF founder and executive .

director Leslie Vanderpool.
The festival’s rising star award

is given to an actor or actress

whose noteworthy perfor-
mances have put ‘them on the
path to stardom in the industry.
Anna Faris will be on hand for
the special Chopard award trib-

December 8, at Aura Nightclub
at the Atlantis Hotel, Paradise
Island.
“Anna Faris represents every-
‘ thing that is good about Holly-
wood’s present and future.
Through the diverse roles she
has taken on early in her career,
she has displayed tremendous
creativity and a marvelous gift
for acting.

“With a number of hit films to *

her credit and legions of fans
worldwide, including the
Bahamas, she is emerging into a
league of her own and we are

the treasure.

“THE NASSAU MUSIC SOCIETY is pre

ute presentation on Monday,

ring: for the new season.



Nassau Music Society to hold
first performance of new season

NASSAU. Music Society’ s new season ‘opens
this weekend with a.touch of French-style
romance.,

The first performance will be held tonight at St
Andrew’s Kirk, Nassau, with a second at St Paul’s
Church Hall, Lyford Cay, tomorrow.

Organisers say the new season will bring “a
wonderiul programme” for society members atid
the public.

“We hope that those people who attend our
concerts have an enjoyable evening,” said presi-
dent Patrick Thomson.

“We try very hard to vary the programme each
year and over a period to provide music that will
suit everyone’s taste.”

‘The society specialises in classical music both -

serious and light with the occasional evening of
really. light music, but not rock.

"Mr Thomson said: “It is so important to expose
young musicians to live music. Listening toa
CD is one thing but to see the artist on the stage
playing their instrument gives the listener a bet-

-ter appreciation of how to play the music.”

This weekend’s concerts. feature Raminta
Dombrowski, a pianist, and Rita Preiksaite, a
mezzo soprano, who will provide an evening of
French Romantic Music, including songs from
Massenet, Bizet, Berlioz and music from Saint
Saéns.

“It should be a lovely relaxing evening,” said
Italia Watkins, vice-president responsible for
publicity and communications.

This particular evening is being additionally
sponsored by S G Hambros, who are also lead
sponsors for this season. Other major sponsors are
Pictet Bank and Trust and RoyalStar Assurance
with Colina Imperial joining them.

Terry Factor, vice-president in charge of fund-
raising, said: “Without our sponsors we could
not run a music programme. Concerts do not
make profits and as we have tried to improve
the overall quality of the artists we showcase, the
higher the costs go.

“We therefore have to thank our sponsors for
giving the Bahamian public and our members
the opportunity to enjoy live music”.

The programme continues on January 17 and



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Bayuiaed

2 yes (als
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18 with a classical guitarist from Italy, Roberto
Porroni, who will play with Christine Gangel-
hoff, assistant music professor at COB, on the
flute.

They will play a programme of compositions
from Falla, Lorca, Piazolla, Morricone and Gersh-
win.

In February, the society is featuring Alberto
Nose, a pianist and winner of the “Santander
International Piano Competition” in Spain. Two
previous winners of this competition, Yung Wok

Woo and Boris Giltberg, have played in Nassau.

‘Alberto is playing on February 7 and 8. In
March Steve Koven is returning to Nassau to
play an evening of light music with Adrian
D’ Aguilar and Neil Symonette and the society is
hoping to have Simone Fitzcharles and the Yode-
phy Dancers perform once again with the trio.

For those who prefer the lighter side of the
music spectrum this concert should be the one for
you on March 14.

And finally, in April, the society has Polina
Leschenko and Mark Drobinsky, who will provide
an evening of piano and cello.

Polina, according to many music critics, is one
of the world’s leading pianists. She is highly-rat-.

ed and, playing together with Mark, is expected to
provide a concert to remember. They are playing
on April 3 and 7.

Christine Gangelhoff and Father Bita, the vice-
presidents responsible for the society’s scholarship
programme, advise that the society foundation set
up in the autumn of 2007 with help from the
Lyford Cay Foundation has awarded its first
scholarship to Giovanni Clarke, a flute player,
who is attending Vandercook College of Music
starting in January.

Giovanni follows a number of society scholar-
ship recipients, including Keiran Roker and
Wendy Lewis.

Christine and Father Bita report that the schol-
arship programme is now administered by the
Lyford Cay Foundation and is more profession-
ally managed and permanent.

Italia Watkins, who is in charge of the web-
site, urges music-lovers to follow society activities
on http://www.nassaumusicsociety.org



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happy to recognise this through
our tribute to Anna at this year’s
festival,” Ms Vanderpool said.
Anna Faris most recently
starred in the hit film “The
House Bunny,” in the leading

‘role of ‘Shelley Darlington’, a

Playboy bunny who is kicked
out of the mansion and tries to
adjust to life on the outside.
The project was hatched from
an original idea by Faris and she
collaborated with the writers of
“Legally Blonde” on the script.

She serves as a producer on
the film alongside Happy Madi-
son Productions for Sony Pic-
tures.

Next Spring, Faris will star
opposite Seth Rogen in the
Warner Bros. production
“Observe and Report” and the
Sony animated film “Cloudy
With a Chance of Meatballs”
opposite Bill Hader.

Additional upcoming films
include Universal’s “Kids in
America” opposite Topher
Grace,” and the British ensem-
ble comedy, “Frequently Asked
Questions About Time Travel”
with Simon Pegg.

In 2003; Faris co-starred in
the Oscar nominated film “Lost
in Translation” alongside Bill

Murray and Scarlett Johansson .

for director Sofia Coppola. |

The critically acclaimed box-
office hit earned Faris rave
reviews.

Faris’ additional feature films
include, “Brokeback Mountain”
for director Ang Lee, “Smiley
Face” for director Gregg Araki,
“Mama’s Boy” opposite Jon
Heder, “Just Friends,” “Wait-
ing,” “Scary Movie,” “Scary
Movie 2,” “Scary Movie 3,” and
“Scary Movie 4”. These films
represent Dimension Films’
most successful franchise to
date.

On television, Faris is well-

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remembered for her recurring
role on the final season of
“Friends,” playing a surrogate
mother to ‘Monica’ and ‘Chan-
dler’s’ adopted baby.

Entering just its fifth year,
the Bahamas International Film
Festival has established itself
aS a marquee interna-
tional festival in the
Caribbean region, dis-
covering and pro-
moting indepen- ;
dent voices and #


















Thursday, December 4, through,
Thursday, December 11 in Nas-
sau. The festival invites Bahami-
ans to come enjoy cinema in
paradise.
BIFF is a non-profit organisa-
tion committed to pro- .
viding the local com- ;
munity and inter-
national festi-
val-goers with
a diverse »





talent from from. the
around the ¥ Bahamas
world and yy, ain d
showcasing ,, around
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array of world
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The 2008
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PAGE 8, FRIDAY, NOVEMBER 7, 2008 el. Reo oor ae ce THE TRIBUNE



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FRIDAY, NOVEMBER 7, 2008, PAGE 9

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PAGE 10, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



| LOCAL NEWS

FROM page one

"The government will comply with the
position of the court as to that ruling. The
attorney-general's office tells me that they
are proposing to appeal — that's entirely
up to them," said Mr Ingraham, speaking
to reporters at Coin of the Realm, where a
ceremony was being held to recognise the
building as an historic site.

“The court having determined that one
of the appointments is invalid I accept that.
I will now make another appointment in
due course or the attorney general's office
will appeal but the one doesn't depend on
the other. I do not have to wait for any
appeal to cause another appointment to
be made. The matter was given my con-
sideration and the determination shall be
made," he said adding that he will consult

“the leader of the opposition as is constitu- °

tionally required.

Yesterday, Attorney General Michael
Barnett said that while the prime minister
"respects" the Supreme Court decision,
his office will be filing an appeal.

"We think that the matter is of suffi-
cient importance that it justifies consider-
ation by an appellate court," he said yes-
terday. According to Mr Barnett, unless
the Supreme Court decision is overturned
in the appeal process and "as long as the
chief justice's decision prevails, Senator
Musgrove will not be performing any ‘duties
as a senator." ’

The Attorney General’s office has six
weeks from the date of the ruling to file the
notice of appeal.

When contacted by The Tribune yester-
day afternoon Mr Musgrove said he had

Tropical storm Paloma

Plans to appoint senator

not received instructions to resign from
his post and as far as he was aware would
continue in that capacity.

"My resignation has not been requested
and as it stands today I have not been
instructed to make any changes, if any
changes are required of me, so as it stands
I will continue to serve in the capacity as a
senator unselfishly and to the best of my
ability," he told The Tribune, adding that
his contributions to the Senate were always
made independent of party affiliation.

Up to press time last night, The Tribune
was unable to secure a comment from PLP
leader Perry Christie on the ruling. It was
unknown whether Mr Christie would
appeal the decision regarding Ms Wright's
appointment.

The prime minister added that his job
was to meet the Senate requirements as
outlined in the Constitution — which calls
for 16 senators in the upper chamber —

_and not postpone appointments based on

court decisions.

"I was required to consult with the
leader of the opposition (with respect to
the) appointment of three senators. I did
that. I caused two of the three to be

appointed in May of 2007. The leader of

‘the opposition was not satisfied with that.
He decided to take the matter to court last
~ year, I waited seven months before I made -

another appointment. No decision having
been made by the court, I caused an
appointment:-to be made in January of this
year. That's eleven months.ago. Now a
decision has been made by the court that
says one of those persons is invalid.

FROM page one —

"The Constitution says that there should
be 16 senators and we'd like to comply
with the Constitution. If I had waited for a
decision of the courts, there would have
been no appointments made up to now
after nearly two years. Clearly that's not
what my job is — my job is to seek to abide
by the Constitution the best way I can and
I sought to do so," he said.

On Wednesday, Chief Justice Sir Burton
Hall ruled that Mr Musgrove's appoint-
ment to the senate was invalid, but
declared the contentious appointment of
Senator Tanya Wright would stand. In
May, 2007 Ms Wright and PLP Michael
Halkitis, who was recommended by Mr
Christie, were appointed to the Senate. Mr
Christie argued Ms Wright's appointment
was unlawful under Article 40 of the
Bahamas' Constitution. He contended that
an opposition member should have been
appointed to the vacant seat and in June,
2007 he filed a writ in the Supreme Court,
challenging her appointment.

Mr Musgrove, the deputy vice-chairman
of the Free National Movement, was
appointed by the prime minister in January.
His appointment sparked outrage from the
leader of the opposition.

In his 46-page written ruling, the chief
justice referred to an affidavit filed by Mr
Christie citing Mr Musgrove as a "well-
known FNM activist who in fairly recent
times was widely known to be interested in
securing a nomination to run as a candidate
for the FNM."

In his written ruling, Chief Justice Hall
said that although this was "thin as evi-
dence this uncontroverted assertion suf-
fices to establish that Mr Musgrove's ori-

entation is such that he would choose to’

CALL FOR DOWNTOWN BUSINESSES

place himself under the parliamentary whip
of the FNM."

Consequently, under Article 39 (4) of
the Constitution as conditioned by Arti-
cle 40, Mr Musgrove's appointment was
invalid, Sir Burton ruled. He went on to
refer to evidence which stated that Mrs
Wright "is an individual who professes to
be politically neutral (and) is not a member
of the PLP" and declared her appointment
valid.

Part two of Chapter V of the Constitu-
tion states that nine senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister and that four senators shall be
appointed by the governor-general acting
in accordance with the advice of the leader

. Of the opposition. :

It also states that three senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister after consultation with the laader
of the opposition.

According to a writ filed by the former
prime minister, contained in Sir Burton
Hall's written ruling Mr Christie said the
balance of political balance in the Senate
should reflect the balance in the House of
Assembly. In the writ, Mr Christie said
in accordance with Article 40, the balance
for the 16 member Senate should be nine
seats for the FNM (56.25 per cent of the
total) and seven seats (43.75 per cent) for
the PLP.

This. would reflect the balance of the
House of Assembly at the relevant time
which was 23 seats for the FNM (56.03 per

- cent of the total) and 18 seats for the PLP

(43.9 per cent), according to Mr Christie's
writ.

FROM page one

According to the National
Hurricane Centre, Paloma is

expected to become a catego- -

ry one hurricane today as.it
moves toward Cuba and will
| be 275 miles southwest of Nas-
sau on Sunday afternoon; with
the cone of uncertainty fore-
casting a downgraded Tropical
Storm Paloma affecting the
central Bahamas.
According to Chief Meteo-
rologist Basil Dean, Paloma
should be in the central or
southeast Bahamas by Mon-
day. ‘
He said it is too early to tell
exactly what size system Palo-
ma will be when it arrives in

the Bahamas, but it could be a -

weak tropical storm.

“Hopefully the mountains
of Cuba will break it up,” said
Mr Dean.

“We’re looking for some
rains on Monday, which could
be heavy at times as it contin-
ues to move northeast. °

“If it comes over as a weak
tropical storm we’re talking
about 45mph sustained winds
— that’s something we could
live with.”

In September, Hurricane
Ike plowed through Inagua
devastating its economy,
which is just getting back to
normal.

Mr Dean said that residents
of the southeast should pay
close attention to this storm.

“As-it moves across Cuba
we'll see what it does there

‘and we’ll guide you through

from that point,” he said.



Appdicagts muse have carn CEAasPOnLAs icity.

Karen Alliata, whose family

owns the business, they have °

been talking about looking
into the building’s history
for 30 years.

“We really -hope that oth-
er businesses downtown will
do the same thing, it adds a
lot not only to the business,
but to the tourists and to
Bahamians alike to know
how far back the buildings
date and that we have such
and interesting history,” she
said.

She also said that the Coin
of the Realm sells Spanish,
Greek and Roman coins
that happen to be around
the age of the building itself.

Mr Ingraham, during his
dedication speech, revealed
that many businesses in the
downtown area will be

TO REVITALISE PROPERTIES

offered concessions to revi-
talize their properties.

“I am pleased to be able
_to tell you that we have:

already approved five appli-
cations for concessions
under the Revitalization of
the City of Nassau Act and

look forward with anticipa- |
‘tion to the progress of those

projects,” he said. °

“We hope that the provi-
sions of both Acts will help
to stimulate some of the
needed upgrades to our city
centre and to commercial
centres in the vicinity of our
hotels.” Nw

Chairman of the Antiqui-
ties, Monuments and Muse-
ums Corporation of the

"Bahamas Dr Davidson Hep-

burn, shared‘in the Prime
Minister’s ‘sentiment to

apply.a facelift to the city of’

Nassau

“T hope that the dedica- - made contact again with John-
: son by her cell phone and told

: him she was leaving.

tion and installation of the
approved plaque is an incen-
tive to businesses to follow

. suit in the revitalization of

downtown, Nassau,” he
said.

Mr Ingraham said Nassau
needs to be restored back to
its old glory days of charm.

“A restored and revital-
ized City of Nassau will help
in instilling pride and pro-
viding interest and enjoy-

ment for ourselves and for

our visitors,” he said.

FROM page one

ibility of votes cast in Grand Bahama’s Marco

City constituency: -

Fred Smith, representing elected FNM MP.
Zhivzargo Laing, the current Minister of Finance,
warned Justices to be wary of hearsay evidence
put forward by Ms Bridgewater’s attorney, Philip

“Brave” Davis.

Mr Smith also objected to Mr Davis’ submis-
sion of documents after the close of the case.
The documents were disallowed by Justice Allen.

She said: “All of the documents ought to have
been put to witnesses. Opposing counsel should
have had an opportunity to see them, and to put

lenged.

by 15 people.

Thursday.

Although the court had recorded Mr Davis as
having challenged 97 voters originally, and con-
ceding to show 75 on April 9, Mr Davis said yes-
terday he is now disputing 72.

Mr Laing is disputing the validity of votes cast

The attorneys pledged to tally up the numbers
and give their final numbers to the court on

Leif Farquharson, representing returning offi-
cer Cecil Thompson, said no orders should be

Rane conviction

FROM page one

i the Princess Margaret Hospital
i where she was examined.

, According to the woman, the

? total time she spent with her
: abductors was about three hours
: and during that time she heard
i the two men speak for about an
: hour and half and carefully took
: note of the voice of the gunman
:; who had robbed and raped her.

Five days following the inci-

: dent, the victim began to receive
: telephone calls froma voice
: which she recognized as John-
? son’s. ;

The men, after the rape inci-

: dent, had driven away in her car
: in which she had left her cell
? phone which contained her
: home telephone number.

The voice on the telephone

: asked if he could see the victim
i again. She, after a short conver-
? sation with Jobnson on the first
? call hung up and reported the
: phone call to the police. The
: police ‘set up a monitoring sys-
? tem to monitor and record the
i subsequent telephone conversa-
; tions.

The man»called back again

? asking when he could meet the °
? complainant, again. The com-
: plainant agreed to meet with
: Johnson at a certain location at
: the Town Centre Mall parking °
: lot on Blue Hill Road.

The victim informed the

? police of the arrangement. The
i police provided the victim with a
: car for that meeting at the Town
; Centre Mall’s parking lot.

At about 3 pm on the

? arranged date, she drove in the’
: special car to the location at the
: Town Centre Mall to await
? Johnson.

- After waiting awhile, she

Johnson gave the victim

instructions to drive down the.
? ramp and he would meet her:
; She then drove down+the ramp.

He appeared in front of the

i car, walked to the front passen-
: ger side, opened the door and
i got into the front passenger seat
: of the car and instructed her to
: drive across to the Yellow Elder.
; Garden area.

As they drove, the victim

: asked Johnson why he and his
: associate did “that” to her. John-
? son replied — “sorry about that. It
: ain’t suppose to go like that.”

Election court |

The victim immediately rec-
ognized the voice of the appel-

: lant as that of the man who
| | Taped her on the night in ques-
: tion.

She at that stage immediately

i stopped the car, opened the door
? and jumped out of the car as the
: police approached the car.

The officers closed in on the

car. Officer Darren Nixon then
: ordered Johnson to step out of
i the car.

At that point Johnson pushed

open the passenger door and
’? knocked down Officer Nixon
: who was able to subdue and

dale caperience prokerred., questions in respect of the documents to the wit- Made against him. i ‘
4 ! : 5 ash ?. arrest him.
i Rend resume tot. - nesses if they wanted to. At this stage it is too The case has been adjourned for a decision. : The victim identified Johnson
| Island EM late.” , Mr Laing was declared winner of the Marco tae the manswhe repbed and
Atunt Rhondi Treen In the case which began in February and has City seat by 46 votes in May last year. If Ms“; saned her.
Pax: 356-45)5 been subject to subsequent delays, confusion has Bridgewater's scrutiny is granted, legal authority: ~ Johnson’s grounds of appeal,



would be given for a recount.

i



rhondi@ishandimantine.com

ESE LE OS ELLES EEE ESL SLOSS SEER BOODLE SSE SE



arisen as to the number of cast votes being chal-

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Before buying

? among Other things were that
i the evidence presented to the
? court was insufficient to support —
: his conviction.

In support of his first and sec-

? ond grounds Johnson argued

- } that the voice identification evi-
: dence given by the complainant
? was poor, too tenuous and was ~
? unsupported by other evidence
? to connect him with the alleged
: offence.

He submitted that bécause of -

? the inherent weakness in the
i? voice identification the convic-
: tion is unsafe and unsatisfactory
? and the court should set aside
: his conviction and acquit him.

However, the court said what

: was most compelling is the evi-
: dence of the appellant admitting
? to the victim in the car just
: before he was arrested by the
: police that he was the rapist and
: apologizing to the victim for his. *
: actions.

“That bit of evidence puts it

: beyond reasonable doubt that
: the voice identification by the
? complainant was correct. For the

: Crown it is also submitted that
: the directions of the trial judge to

: the jury in respect of the voice”
: identification is adequate. There
: is sufficient evidence to support
; the jury’s verdict.

“The conviction in the cir-

3 cumstances could not be regard-
: ed as unsafe or unsatisfactory,”
. ?.the ruling said.

PM to speak to nation

FROM page one

However, just how the gov-

i ernment would assist home
? owners was not clear.

Mr Ingraham said yesterday

: that the mortgage assistance ©
? programme will come into
: effect when the formulation of ©
: the policy is concluded.

He also told reporters that

i diversification of the Bahami-
: an economy could not have pre-
? vented its current situation.

_Mr Ingraham said his gov-

? ernment will do the best it can
: “under very difficult circum-
? stances” to stimulate the job
: market of the Bahamas.








ee Knowles






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

KNOCKED out with a 12-
month suspension for defying
the orders of the Bahamas Box-
ing Commission, First Class
Promotions’ promoter Michelle

Minus has claimed that her :

organisation didn’t do anything
wrong. .

The chief executive officer is
calling on the Ministry of
Youth, Sports and Culture to
intervene and force the com-
mission to rescind on their deci-
sion for the welfare of the num-
ber of boxers in their stable.

Minus, who along with her
husband/coach Ray Minus. Jr.
heads the top professional box-
ing organisation in the country,
said she was never informed
about the decision by the com-
mission.

Instead, she claims she had
to hear about it through the
media.

“JT was in shock because I did-
n’t receive any correspondence
to this effect or anything indi-
cating to me that I was sus-
pended,” Minus stated yester-
day in an interview with The

- Tribune.

Agreement

Minus said the last time she
met with the commission was
at a meeting she was sum-
moned to in September. At the
end of the meeting, she said
they all parted their ways hav-
ing concluded what she
thought was an amicable
agreement.

“T.felt if they had planned
to suspend me, [ should have
been called to a meeting and
the issues brought forward and
then if we couldn’t iron it out,

“then the suspension should
have been handed down,” she
suggested.

‘However, Minus said she felt
she was dealt a low blow when
it was claimed by the commis-
sion that she acted in a disor-
derly manner against its mem-
bers. .

“They are stating that I
cursed a member of the com-
mission. That is not so,” Minus
claimed..“I don’t know which

“FRIDAY, NOVEMBER 7,





2008

INSIDE ¢ International sports news

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

’ THE draw has been set for

the prestigious year-ending

week-long Tennis Masters Cup
2008 doubles competition that
starts on Sunday in Shanghai,
China.

And as the number three
seeds,»Mark Knowles and
Mahesh Bhupathi have drawn
to play out of the Red Group
behind the world’s number one
team of American identical twin
brothers Bob and Mike Bryan,
a two-time former champions
in 2003 and 2004, making their

fourth appearance.
The draw was conducted on -

Wednesday night at the Hilton
Shanghai where the names of
the players were inside tradi-
tional Chinese fortune cookies.

Joining the Bahamian-Indi-
an and American teams in the
Red Group are No.5 seeds Jeff
Coetzee and Wesley Moodie of



The S$: ‘dred s Huri icanes anid C. W.
| Sautiders Cougars will have to wait yet
“another day to decide who will advance to

Knowles and Bhupathi to

play out of the Red Group

South Africa, returning for their
second straight appearance, and
No.8 Pablo Cuevas of Uruguay
and Luis Horna of Peru, who
are making their debut.

Heading the Gold Group are
Knowles’ former partner Daniel
Nestor and Nenad Zimonjic of
Serbia — the front-runners as
the No.2 seeds overall. Zimon-
jic was a finalist in 2005 with
Leander Paes in 2005.

Also in their group at No.4

‘are Jonas Bjorkman of Sweden
_and Kevin Ullyett of Zimbabwe

in their debut together,
although they both played with

other partners; No.6 Lukas ©
* Dlouhy of the Czech Republic
and Paes in their debut and |

No.7 Polish team of Mariusz
Fyrstenberg. and Marcin
Matkowski, who are making



| St. Andrew’s’
Hurricanes

their second appearance.

Each team will play the oth-
ers in their group with the two
teams advancing to the play-
off where they will cross over
to play the winners of the two
groups.

From the playoffs will come
the opponents for the final.

Just for participating in the
tournament, each team will be
awarded $50,000. Each match
won, they will earn $15,000.
For winning their semifinal
match, they will collect
$25, 000.

The winning team will pack:
et $100,000 and if the team
goes undefeated in the tour-

nament, they will end up with

a total of $220,000.

Knowles and Nestor are the.

defending champions.





Meee Bhupath







ae
THEODORE SWEETING JR.
hits a triple in the third inning.

the Bahamas Association of Independent Sec-
ondary School’s Junior Boys Championship series.
Due to a power outage, the game was suspended

one of them I did that.to. I
wish they would say who I did
it to because that’s not in my

lead 6-5

” in the bottom of the fourth inning with the Hurri- :

oe aoe g that the commis- canes protecting a 6-5 lead yesterday at the Free- until pc ower

; dom Farm Field. ce ‘
it phen crag et On nes The Cougars lineup started out quickly as Elliot failure
who are not in any con dig nité Francis, Theotis Johnson, Leslie Darville and suspends
fight overseas,” Minus said Theodore Sweeting Jr each plated runs in the home

2 ‘ 5 half of the first inning.

Iiiaps ter ads, the Pesponse: Despite Sweeting’s powerful delivery from the game

bility of manager/coach on
deciding which fighter gets to
travel.

“I think 12 months is harsh
for something that we could
have sat around the table and
ironed out,” she charged. “You

plate, the Hurricanes lineup rose to the challenge,
responding with three runs in the bottom of the first
to trim the deficit to one.
Following an initial strikeout, Ashland Butler sin-
gled and Alex Euteneur drove home an RBI single.
The Hurricanes added two additional runs on a







don’t.just send out such a wild pitch. : :
hatsh decision.” The defending Junior Boys runners-up increased LEIGHTON GIBSON atthe &
SEE page 12 SEE page 12 plate for the Hurricanes.



PAGE 12, FRIDAY, NOVEMBER 7, 2008

TRIBUNE SPORTS



SPORTS

Michelle Minus
sneaks out on
Suspension

FROM page 11

But the commission, head-
ed by Pat ‘the Centreville
Assassin’ Strachan, had indi-
cated in a letter presented to
Minus prior to the suspen-
sion that there is a financial
obligation that is still out-
standing with the Michael
Gbenga camp for the British
Commonwealth mid-
dleweight title fight with Jer-
maine ‘Choo Choo’ Mackey.

“The (Gbenga) camp had
sent a letter to the commis-
sion saying that $65.00 of
their money was not good,”
Minus said.

“I then told the commis-
sion to ask them to send
proof that when they took
the money to the bank that it
wasn’t good.:To this date, I
have not received anything
in that regard,” she claimed.

Minus said in the letter she
received from the commis-
sion, it stated that the com-
mission paid the Gbenga
camp and they need her to
repay the fee. But she said
she’s not prepared to do so
until she has proof. ©

“They are not looking out
for me at all. They are just
leaving me out there to
hang,” she insisted. “I don’t
have a problem paying any-

- body $65.00, compared to

the thousands of dollars that
we have already paid for the
fight.” -

As for the commission’s
claim that the suspension
won’t affect the fighters,
Minus said it certainly does
because they are under con-
tractual agreement with First
Class Promotions.

“My character is out there
on the line, so to me it does-

n’t make any sense why we |:

can’t come together and iron
out this problem,” she

explained.

Minus is calling on the
Ministry to intervene as First
Class Promotions had anoth-
er hectic schedule lined up
for 2009, including Mackey’s
title defence and a British
Commonwealth title fight for
lightweight Meacher ‘Pain’
Major.

_ “It’s disheartening that the
boxers are just standing
around. They are training,
but they really don’t have
anything to look forward to,
except continue to fight
abroad,” she summed up.

your
news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising-funds for a
good cause, campaigning _
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.

©2008 CreotiveRelations.net





















All Compact |
ait era icy

Junior boys
game suspenced

FROM page 11

their defensive intensity in the -

second inning, after giving up a
triple to the first hitter in the
lineup, the Hurricanes retired
the nest three hitters in consec-
utive order.

St. Andrew’s tied the game in
the bottom half of the second
inning at four only to have the
Cougars regain the lead shortly
thereafter when Sweeting blast-
ed a leadoff triple and was
brought home on an RBI sin-

~ gle by Sammy Mullings.

The Hurricanes took their
first lead of. the game when
Leighton Gibson crossed home
plate on a pass ball.in the bot-
tom half of the inning.

The Hurricanes’ defence once
again retired the side in.consec-
utive order in the fourth inning.

Sweeting recorded two of his
game high eight strikeouts in
the bottom of the fourth before
the power went out, forcing the
suspension.

The BAISS playoffs resumes
today at the Freedom Farm
Field beginning at 4pm.

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a saving bulbs. Lo g
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Rosetta & Montgomery Streets

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Email: Geofflones@comcast. net

You'll wonder how you ever got along without it.








Tim Clarke/Tribune staff



ACTION from the

’ BAISS Junior Boys

Semifinals yester-
day at the Freedom
Farm Fields. The St.
Andrews Hurri-

’ canes led the C.W.

Saunders Cougars
6-5 in the bottom of
the fourth inning

. before the game

was Called due to
darkness.













































Dolphins
‘defence shows
‘improvement

@ FOOTBALL
DAVIE, Fla.
Associated Press

MIAMI DOLPHINS
coach and head nitpicker
Tony Sparano combed
through a videotape of the

: latest performance by, his
; defense seeking material to
: scold his players about.

He was looking for missed
tackled, coverage break-
downs and flawed funda-
mentals — the sort of things

; that have doomed the Dol-
: phins' defense at times this

season.
But in Sunday's victory at

? Denver, the list of misdeeds

was short. ,
"Defensively it was hard to

find some things that weren't
: really good for a change,"

Sparano said with a chuckle.
That's progress, and now

: Sparano's defense can claim

to be average.
Miami (4-4) is 22nd in the

? NFL in yards allowed, and
: 12th in points given up. But

while those rankings are

? modest, first downs and total
: yards for the opposition have-

declined each of the past
three weeks, and the latest

; performance may have been
: the most impressive yet.

Denver netted only 14 -

: yards rushing, breaking a
: Dolphins franchise record
: set in their first season in

1966. The Broncos totaled

: 319 yards and lost,26-17.

"The defensive line played
an amazing game," Miami
linebacker Channing Crow-

i der said Wednesday. "I did-
i n't touch a lineman. I wasn't

even sore after the game,
because I wasn 't wrestling
anybody."

Miami's defense has been

that sort of force at times this
? season — and much better

than a year ago, when the
Dolphins went 1-15 and
ranked last in the NFL

; against the run.

But the Dolphins seem to

play to the level of the oppo-

sition, which could be a

? problem Sunday against .
: injury-riddled Seattle (2-6).

"If we play like we did last
week, the sky is the limit,"

i said linebacker Joey Porter,
? who leads the NFL with a

career-high 11? sacks. "We

: show so many spurts of being
? good. We just need to do it

on a consistent basis."
Porter, thriving-in the 3-4

? scheme installed by the new
: Bill Parcells regime, has ably
? filled the playmaker role of

? the departed Jason Taylor.

New nose tackle Jason Fer-
guson has effectively plugged.
the middle. And outside line-
backer Matt Roth has found
a home after struggling for
three seasons as an under-
sized defensive end.

"Joey Porter does a

? tremendous job in the pass
? rush," Sparano said. "But I

think that Matt Roth's pres-
ence on the edge in the run
game goes unseen some-
times. I think that's a very
important part of what we 're
doing."

The secondary remains the

} weak link, although 2006

: first-round pick Jason Allen
: has played well recently as a
: third cornerback, bolstering
i the pass coverage.

Teams are averaging only
3.5 yards per carry against
Miami, an improvement on
last year's 4.5 average.
Missed tackles are on the
decline — the Dolphins had

? more than 20 in one early-
i season game, but Sparano
? counted only half a dozen

: Sunday.

And they're becoming ,

: more of a ball-hawking

defense, with 12 takeaways
in the past four games after

: totaling three in the first four

games.
But has the defense

improved enough for Miami

to mount an improbable bid

: for a playoff berth? To put it
: another way, can the Dol-

: phins consistently deliver the
: sort of defense that helped

? them win Sunday?

"You don't want to jump

to conclusions, but we have
: the ability to do it," Crowder

said. "We have to prove to
ourselves and the league we

: can do it."



TRIBUNE SPORTS

FRIDAY, NOVEMBER 7, 2008, PAGE 13



TO says Cowboys
let doubt creep

in weeks ago

m@ FOOTBALL
IRVING, Texas
Associated Press Press

TERRELL OWENS admit-
ed what his Dallas teammates
couldn't a month ago — at least
publicly: The Cowboys were
springing leaks long before Tony
Romo broke his pinkie and their
Super Bowl hopes started ‘sink-
ing.

Owens said doubt crept in as
early as the first month of the
season, when the Cowboys lost
their first game against Wash-
ington then answered with an
unimpressive victory against
then-winless Cincinnati.

After beating the Bengals, the
Cowboys complained about havy-
ing to defend a win and remind-
ed everyone they were 4-1. They
did at least acknowledge that
what they were saying for the

cameras might be different from ~

what they were telling each oth-
er. Owens said it for the cam-

eras Wednesday, during Dallas’ |

bye week.

"T think the loss to'Washing-
ton made.a lot of people raise a
lot of eyebrows," Owens said.
"I think those two games alone

BR



kind of let everybody in this
locker room know you got to
have sort of a self check like,
'OK, we're probably not as good
as we think we are, or probably
not as good as hyped.'"

The Cowboys went 1-2 with-

- out Romo after he injured his

throwing hand during the first
play of overtime in a loss to Ari-
zona. The offense was anemic
in all three games, even setting a
franchise record for fewest yards
in a win when they beat Tampa

BELGIUM’S Standard Liege player Igor De Camargo challenges Spain’s
FC Sevilla player Julien Escude during their UEFA Cup Group C soccer
match in Liege, Belgium, Thursday Nov.6, 2008. °



BELGIUM'S Standard Liege player Dieu Mbokani challenges Spain’s FC -
Sevilla players Julien Escude, center, and David Prieto, during their UEFA
Cup Group C soccer match in Liege, Belgium, Thursday Nov. 6, 2008.

SLL LLL

Bay 13-9.

But Dallas was 1-2 in the last
three games with Romo, too,
always scoring enough points to
win but going through unchar-

- acteristically long stretches of

ineffectiveness on offense while
the defense struggled to make
key stops. i

If they want to latch on to

something positive, the Cowboys .

have this: The Redskins rematch
— on Nov. 16 — could be the
first time on the field together






SPAIN’S FC Sevilla goalie Andres Palop Cervera makes a save
during their UEFA Cup group C soccer match.

for Romo, Owens, recently
acquired receiver Roy Williams,
tight end Jason Witten, running
back Marion Barber and bud-
ding star Felix Jones, a rookie
who backs up Barber and has
emerged as a kickoff return ace.
Witten is trying to play
through a broken rib from the
Tampa Bay game, and Jones is
expected to return after missing
the same amount of time as
Romo with a hamstring injury.
"When you go in with a full

















Dodgers make offer to keep slugger Manny Ramirez |T

@ BASEBALL
’ DANA POINT, Calif.
Associated Press

MANNY RAMIREZ wants
big money, and the Los Angeles
Dodgers are prepared to give it
to him — likely for a far shorter
period than he wants.

General manager Ned Collet-
ti said Wednesday the Dodgers
made an offer to the free-agent
slugger that would give him the
second-highest average salary in
the sport behind Yankees third
baseman Alex Rodriguez.

"If you saw the bid, it's noth-
ing that we're embarrassed by,"
Colletti said at the GM meet-
ings. "Manny was close to that
number, anyway — closer to that
area than the last place he's
been." ;

Rodriguez currently has the
top average at $27.5 million
under the 10-year deal he agreed
to before last season. Mets pitch-
er Johan Santana is second at
$22.9 million under the six-sea-
son deal he agreed to this year.

Ramirez,’ acquired from
Boston on J uly 31, is coming off
a $160 million, eight- year con-
tract he signed with the Red Sox
before the 2001 season. Colletti
didn't make public the length of
the offer.

"We said, 'Think about it for a
while. It's not going to be there
forever,'" Colletti said. "Things
are always subject to change, and

it depends on what else we do, to °

some extent. I've been asked a
few times here if we're going to
wait to see what happens with
this before we do anything else.
But I'm not sure we're going to
have the luxury to do that. If
there's something else that
comes about that we feel we
need to do, and the timeliness
is there to do it, we'll have to do
it."

When the Dodgers were
eliminated from the playoffs last
month, Ramirez expressed a
desire to test the market.

"IT want to see who is the
highest bidder. Gas is up and
so am J," he said then.

Gas prices have gone down
sharply since then.

"T believe that was a prog-
nostication that was of a 24-
hour period," his agent, Scott
Boras, said Wednesday.

Ramirez is 36, and the length
of the contract could become
an issue. Boras wants a lengthy

' contract.

"We have now established
records with a lot of veteran
players, where we're seeing
players perform at very high
levels into their early 40s," he
said.

Boras maintained his view-

point that MLB won't he hurt

by the economic downturn.

"Baseball didn't invest in
derivatives and sub-primes," he
said. "Baseball has long-term
contracts with national and local
TV networks. ... As I've said all
along, the hay is in the barn."

Also Wednesday, the
Dodgers declined Brad Penny's
$9.25 million option, making the
30-year-old right-hander eligi-
ble to become a free agent.



Gene J. Puskar/AP Photo

LOS ANGELES Dodgers' Manny
Ramirez #99 before a game
against the Philadelphia Phillies
in Game 1 of the National
League championship series
Thursday, Oct. 9, 2008, in
Philadelphia.

bee of cards, evérybody in their
starting positions, you go in with
a lot of energy, high expecta-
tions, as we did earlier in the
year," Owens said. "It seems like

one by one, at different posi~

tions, guys have been going
down. It's very unfortunate, but
there are two halves to the sea-
son. '

It's been three-fourths of a
season since Owens had a 100-
yard game. He's averaging less
than four catches and barely 50








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yards per game this season, but
he hasn't come close to com-
plaining about it since he was
criticized for saying after the
Washington game that he need-
ed to get the ball more. He made
the comments after catching sev-
en passes, taking two handoffs
and having 11 other balls thrown
his way.

"I can sit up here and say I
need the ball more, then you
guys will go back and dissect
how many balls are thrown my

. way so I'm not going to get into

that," Owens said. "I know I am
a playmaker. I've always been
that, and I still consider myself
that. I think it shows when I get
my hands on the ball, things hap-
pen."

Instead of building the best
record in the NFC like they did
last year, the Cowboys find
themselves,in last place in the
NFC East more than halfway
through the season. But Owens
says that hasn't changed the
team's outlook.

"We're still a very confident
group of guys," Owens said." As
a unit, we know why we aren't
winning. We just have to get
those mistakes corrected."

BELGIUM’S Stan-
dard Liege player
Dieu Mboka chal-
lenges Spain’s FC
Sevilla player Julien
Escude .

BELGIUM’S Stan-
dard Liege player
Dieu Mbokani chal-
lenges Spain’s FC -
Sevilla players
Julien Escude, cen-
ter, and David Pri-
eto during their
UEFA Cup Group C
soccer match.



KURA



AN zamawomzroz00



CHEZ WILE



PAGE 14, FRIDAY, NOVEMBER 7, 2008




Browns set to
hand off to
quarterback
Brady Quinn

@ FOOTBALL
CLEVELAND.
Associated Press

ON HIS first play of practice
as Cleveland's starting quar-
terback, Brady Quinn caught a
pass behind the line of scrim-
mage before stepping up and
launching the ball deep.down
field. ;

As he approached the goal
line, wide receiver Braylon
Edwards, whose season has
been defined by.drops, had to
accelerate to get his hands on
the ball. He held onto this one.

"It's warmups, Brady," com-
plained Edwards.

Not anymore. Practice is
over.

It's game time for Quinn.

Following another strange
few days in Cleveland, where
football freakishness has ruled
for years, Quinn, the former
Notre Dame golden boy with
Ohio pedigree: and pop idol
looks, makes his starting

debut Thursday peht as the i
(3-5) host :

struggling Brown:
the Denver Broncos (4-4).

In front of 70,000 fans and
an NFL Network audience,
Quinn will get to live out the
dream he’has had since grow-
ing up in the Columbus area
rooting for the Browns. He'll
face the Broncos, the Browns'

longtime nemesis, who have }

wrecked so many promising
- -Geelang playoff runs in the

“Knock woad, i hope the
guy doesn't fall on his face,"
Browns coach Romeo Cren-
nel said.

Crennel's decision — at least
that's the party line — to
bench Derek Anderson in
favor of Quinn could be a risky
gamble for the Browns, who
thought it was so nice to have
two quality quarterbacks and
now have to hold their breath
that they have at least one.

Anderson's demotion sent
shockwaves through the lock-
er room as teammates won-
dered why he was being sin-
gled out for. the: team's many
woes.

"Nobody saw it coming,"
linebacker Willie McGinest
said. "I don't think it's one per-

son why we're losing. When.

we lose, we lose as a team."
Reaction

A sixth-round draft. pick
who worked his way up
, from No. 3 on the depth
chart all the way to the Pro
Bowl in three. seasons,
Anderson was bliadsided by
Crennel's choice to hand the
ball off to Quinn. Back to
being an understudy, Ander-
son wouldn't bite when
asked if he felt Crennel act-
ed alone in making the deci-
sion.

"I respect Romeo and
what he's done," said
Anderson, who signed a
three-year, $24 million free-
agent deal to stay with
Cleveland, " and that! s as far
as I want to go."

Cleveland's lousy record
isn't all Andersgn's fault.
Edwards has:drppped 14
passes, including a sure
touchdown in last week's
loss to Baltimore.

Edwards took exception
to the idea that he might
have cost Anderson his job.

"Yes, I wish I would have
caught that pass," Edwards
snapped. "Should I have
caught that pass? Yes. Have
I thought about it? Yes. But
if I catch that pass, is D.A.
still the starter? I mean
what kind of question is
. that? If coach feels like that
was the move to make, then
that's the move to make."

Crennel, a former defen-
sive coordinator, rebuffed
the notion that he suc-
cumbed to public pressure
in swapping QBs. But he
acknowledged hearing the
chants for Quinn and the
boos which rained down on
Anderson after he threw a
late interception in Sunday's
‘loss to Baltimore










SERENA WILLIAMS of the U.S. reacts after missing a point against her sister, Venus Williams dung the Sony
Ericsson Championships.

Maneesh Bakshi/AP Photo

Chris O'Meara/AP Photo

u. S. Vents Williams celebrates after she beats her sister
Serena Williams 5-7, 6-1, 6-0 during the third day of
Sony Ericsson WTA Tennis ehamplenstipe in Doha, Qatar,
Thursday Nov. 6, 2008.

TRIBUNE SPORTS



?

24

7illiams beats Serena

at WTA Championships _

SERBIA'S Jelena Jankovic Russia's returns the ball to Svetlana Kuznetsova, during the third 78 of

the Sony Ericsson WTA Tennis Championship.

' TAMPA BAY Rays first baseman Carlos Pena flips a ball during

an American League championship series baseball practice
Thursday, Oct. 9, 2008, in St. Petersburg, Fla. The Boston Red
Sox take on the Tampa Bay Rays in Game 1 on Friday.



MTENNIS - ~~.
DOHA, Qatar 4...
Associated Press i Fe

“VENUS WILLIAMS defeat-» “in

ed her sister 5-7, 6-1, 6-0 Thurs-
day to reach the semifinals of
the WTA Tour's season-ending

, ,Sony Ericsson Championships,
‘amatch Serena Williams called _

her worst of the year.

Serena started to unravel ear-
ly in the second set.

"] just couldn't keep a ball in

play," she said. ENerhine was —

off."

Venus Williams won on her .

fifth match pojnt, and is 3-0 in
round-robin play of a tourna-
ment that features the top eight
players.
dropped to 1-1, but can still
advance to the semifinals if she

Serena Williams °

defeats Elena Dementieva on

Friday.

The sisters are 9-9 in career
matchups. Serena defeated
Venus in the U.S. Open quar-
terfinals en route to the title this
year, and Venus won their title
match at Wimbledon.

Venus stayed composed
throughout the match, using her
powerful serve to frustrate Ser-
ena, but refrained from cele-
brating after winning.

"It wasn't the happiest
match," Venus said. "The best
part is that she still has an
opportunity to qualify."

Both sisters played their
trademark power tennis in the
first set before the rallies turned

SAAN lo FP=éwwmilWWNWDy°0 i !t Rt 7 nn

shorter in the second, with Ser--
ena growing increasingly frus-
trafed by.her EXLOrs. %,
pny arnéd two & Set points
e’second when Serena
SOGe ected, and converted
the second with a crosscourt
backhand that passed her
younger sister at the: net.
"IT didn't even look like a

~“top-éight player today. Maybe

top 600, in the juniors," said
Serena, who has won nine
majors and is making her fifth
appearance at the season-end-’
ing championships. She won
the event in 2001. :

-Earlier Thursday, top-
ranked Jelena Jankovic defeat-
ed Svetlana Kuznetsova 7-6
(6), 6-4 to secure a semifinal
spot. .

The ‘seventh-ranked
Kuznetsova saved two set
points in the tiebreaker before
hitting a forehand into the net
to drop the first set. Jankovic
called for a trainer early in the
second set for a back injury
before recovering to win her
second round-robin match.

"T hope I will be OK" for
the semifinals, Jankovic said.

Kuznetsova has one more
round-robin match to play, but
can't advance because she's
lost twice.

‘Eight players are divided
into two groups, with the top.
two in each group advancing
to the elimination stage.

Dinara Safina played
Dementieva later Thursday.



Pena wins first Gold Glove

BOXING
NEW YORK
Associated Press

CARLOS PENA grabbed
attention for all those balls he
hit. Now the Tampa Bay first
baseman is getting noticed for
the ones he-caught.

The Rays star raised his pro-
file Thursday when he won the
Gold Glove, one of four new-
comers on the AL team.

Boston second baseman
Dustin Pedroia, Texas short-
stop Michael Young and Min-
nesota catcher Joe Mauer also
were first-time winners for
fielding excellence.

The outfield was a repeat
from last season: Los Angeles'
Torii Hunter and Seattle's Ichi-
ro Suzuki each won for the
eighth straight year and Cleve-
land's Grady Sizemore earned
his second award.

New York Yankees pitcher
Mike Mussina, coming off his
first 20-win season, added to
his accolades with his seventh

Gold Glove, Seattle third base-
man Adrian Beltre won for the
second straight year.

Pena bounced around the
majors for several seasons
before joining Tampa Bay in
2007, and quickly, got a regu-
lar spot by hitting 46 home
runs.

Pena starred with the bat this
year, too, with 31 homers and
102 RBIs in helping lead the
surprising Rays to their first
playoff spot. He also sparkled
with the glove, making only
two errors as Tampa Bay

reached the World Series,
where it lost to Philadelphia.

Selection

The 30-year-old Pena has
shown improvement in the
field, cutting down from 13
errors with Detroit in 2003. He
made eight last year with the
Rays.

Rawlings has presented Gold
Gloves since 1957. Managers
and coaches pick players in

\

their own leagues near the end
of the regular season, and can't
vote for someone on their
team.

The Gold Gloves often.raise
the ire of many. baseball fans.
Critics claim the best fielders
are overlooked in favor of
more popular players, and fur-
ther insist that better hitters
get a break in the voting.

Hunter and Sizemore earne
$100,000 bonuses in their con-
tracts for winning Gold Gloves.
Beltre and Suzuki got:$50,000
each and Pena, Mauer:and
Young won $25,000 apiece.
Mussina and Pedroia did not
have Gold Glove clauses.

The NL Gold Gloves were
announced Wednesday. Win-
ners were pitcher Greg Mad-
dux, catcher Yadier Molina,
first baseman Adrian Gonza-
lez, second baseman Brandon
Phillips, shortstop Jimmy
Rollins, third baseman David
Wright and outfielders Nate
McLouth, Carlos Beltran and
Shane Victorino.



THE TRIBUNE | FRIDAY, NOVEMBER 7, 2008, PAGE 15

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THE TRIBUNE



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COMMANDER STEPHEN RUSSELL, director of the National-Emer-
gency Management Agency, accepted $27,000 worth of building
materials from operators of the New South Ocean Beach Hotel and
Pinder Enterprises for residents of Mathew Town, Inagua, whose
homes were.damaged by Hurricane Ike.

Commander Russell said the materials would be used to com-
plete the reconstruction phase by the end of November. The materi-
als included 200 sheets of plywood, 500 bundles of shingles, nails,
felt and paint. Additional $50,000 worth of materials were pledged,
to be presented at a later.date..Pictured from left are Commander _
Stephen Russell, NEMA; Burton Rodgers, project coordinator,
South Ocean Beach Hotel; Adam Darville, general manager of Pin- .
der Enterprises, and Michelle Gardiner, finance officer, NEMA:



COMMANDER STEPHEN.RUSSELL, director of the National Emer-
gency Management Agency, accepted a cheque donation of

$10,000 from Cable Bahamas to the National Disaster Relief Fund
for residents in Inagua impacted by Hurricane Ike. Commander:
Russell said the "timing is perfect,” as NEMA is in the last stage of *
rebuilding homes and other properties on the island. Dr Keith Wis-.
dom, director of Public Affairs at Cable Bahamas, said funds were
derived from the Cable Bahamas Cares Foundation and that the
company intends to support efforts in the aftermath of any disaster. -
impacting the country. Pictured are Michelle Gardiner, finance offi-
cer, NEMA; Anthony Butler, president and chief operations officer,
Cable Bahamas, and Commander Stephen Russell.

Putin’s return? Russian»
parliament may allow it

@ MOSCOW
RUSSIA’S constitution will

‘be amended by year’s end to

extend the presidential term to
six years, lawmakers promised
Thursday —a move that could:
pave the way for Vladimir
Putin’s return to the Kremlin,
according to Associated Press.
It would be the first change
to the Russian constitution
since its adoption in 1993. A
six-year term could mean 12
more years as president for
Putin — the current prime min-
ister — who has not ruled out
getting his old job back.
President Dmitry Medvedev,
a Putin protege, had suggested
raising the term from four years
to six Wednesday in his first
state of the nation address.
The respected business dai-
ly Vedomosti quoted an
unnamed Kremlin official as
saying Medvedev may even
step down as early as next year
to get Putin back at the helm.
“Under this scenario,
Medvedev could resign early,

citing changes to the constitu-
tion, and then presidential elec-
tions could take place i: 2009,”
the paper said. i

Spokesmen for Putin and
Medvedev could not be reached
Thursday. Vedomosti reported
that Putin’s spokesman denied
that the term extension was
designed was linked to Putin’s
return.

Work on the amendments
has already begun in the State
Duma, parliament’s lower
house, speaker Boris Gryzlov
said Thursday.

As Russia’s president for
eight years, Patin had declined
to amend the constitution to
allow himself a third consecu-
tive term or to extend the
length of his term. Vedomosti

said this unpopular task may

have been given to Medvedev,
a former law professor who
professes deep respect for the
law.

Regardless of his title, Putin
has continued to wield signifi-
cant power in Russia since leav-
ing the Kremlin in May.



T HE



Exuma
casino

Oy role
Lescol

a eed
&

@ By NEIL HARTNELL
Tribune Business Editor



Pinnacle Entertainment,
the US gaming giant, yester-
day said it had taken a one-
off $4.3 million impairment
charge related to its casino at
Exuma’s Four Seasons
Emerald Bay Resort, with a
sale of the troubled opera-
tion appearing increasingly
unlikely.

A Pinnacle spokesman
yesterday told Tribune. Busi-
ness that the company still
planned to close The Casino
at Emerald Bay in early
2009, placing the facility’s . -
long-term future in jeopardy.

“We plan to close the
property in early 2009,” the

. spokesman said. .

When asked whether Pin-
nacle he 1 made any progress
in finding a buyer for the
casino, a development that
would ensure its continued
existence, she replied: “We
don’t really have anything .
new on that front.” ©

The Pinnacle representa-
tive told Tribune Business
that The Casino at Emerald

Bay’s status had changed lit- |

. tle over the last two months
since staffing levels were
downsized in accordance
with the company’s agree-
ment with the Department
of Labour.

“We have closed down the’
table games. It’s been scaled
back and its machines only,”
the spokesman said.

Asked precisely when Pin-
nacle would look to close the
Exuma casino, she said: “If I
were to guess, I would say
early [in 2009], just past the
New Year.”

Pinna e aanouiice its,
decision to either sell or

- close The Casino at Emerald

Bay in July 2008.

The boutique property,
smaller than most casinos,
was described as “distant
from Pinnacle’s other opera-
tions” with its success heavi-
ly dependent on the Four
Seasons resort’s perfor-..
mance.

_ The resort’s parent compa-.

ny, Emerald Bay Resort

’ Holdings, is still in receiver-
ship, with attempts over the
past 15 months by the
receivers, PricewaterhouseC-
oopers (PwC), having ulti-
mately proved fruitless.

Pinnacle is now classifying

The Casino at Emerald Bay

_as a discontinued operation,

. resulting in it taking a $4.3
million charge associated
with its fixed assets.

For the three months end-
ed on September 30, 2008,
Pinnacle suffered a $3.561
. million loss from its discon-
tinued operations, which
include the Bahamas-based
casino and another opera-
tion.

- This compared to a
$816,000 loss in the year-
before period.

Earlier this year, Pinnacle
said the net book value of its
casino-related assets in Exu-
ma was about $3.4 million.

It added that for the three
months ended June 30, 2008,
and 2007, the adjusted oper-
ating loss sustained by The
Casino at Emerald Bay was
$746,000 and $452,000,
respectively, and for the six
months ended June 30, 2008
and 2007, the operating loss
was $1.2 million and
$936,000, respectively.

For the 12 months ended
December 31, 2007, The
Casino at Emerald Bay suf-
fered a $1.6 million operat-
ing loss.

TRIBUNE:

FRIDAY, NOVEMBER 7,

2008



FAMILY G GUA RDIAN

Su RANCE COMPANY LIMITED



‘South Ocean control | rises planned to

* Developer denies main financial backer’s eam that
it yesterday removed him as general paras’ for

$867m project

* Hedge fund invested almost $100m, but now trying
to allegedly squeeze partner out

@ By NEIL HARTNELL
Tribune Business Editor

A furious battle has broken
out over who controls the
$867 million South Ocean
redevelopment, with the
developer alleging that his
main financial backer is
attempting to use its position

as both shareholder and debt .

financier to squeeze him out
and take over the project.
RHS Ventures, RHS Hold-
ings (Bahamas) and RHS
Development, the companies
controlled by South Ocean
developer Roger Stein, have
filed a demand for arbitration

in New York with the Ameri- .

can Arbitration Association,
alleging that the investment
vehicle employed by a major
Connecticut-based hedge fund
“has embarked on a course of
conduct designed to enable it
to use its status as a creditor of
the [development partnership]

to gain leverage in order to:

force RHS Ventures to sur-
render its authority as general
partner”.

That appeared to have hap*

pened last night, with a
spokesman for Plainfield

~ Asset Management, the hedge

fund that controls the Seaside
Heights investment vehicle,
which has invested almost

$100 million in the South —

BIC chairman confident

over buyer interest —
* Bluewater talks ‘practically completed’.
* Value and technical evaluation of BIC to

‘By CARA BRENNEN-

BETHEL
Tribune Business Reporter

The delay in privatatising the
Bahamas Telecommunications
Company (BTC) has negatively
impacted this nation’s economic
progress, its executive chairman
telling Tribune Business that if

‘the process had been completed

sooner it would have resolved a
number of key private sector
requirements.

Speaking with Tribune. Busi-

ness yesterday morning, former

Central Bank governor Julian
Francis.said the more than 10-
year wait for BTC to be priva-

. tised has had a major impact on

the Bahamians economy, espe-
cially when it came to telecoms
costs, Service and business com-
petitiveness.

“T believe that had we been.

able to privatise BTC in 2001, we
would have resolved a number of
requirements for the economy in
our business sector,” Mr Francis
explained.

He said that for the last eight
years, BTC and the Government
had imposed on the economy an
inefficient telecommunications
service, and it difficult-to quanti-
fy how much this had cost
Bahamian business.

Now, Mr Francis said BTC’s

‘privatisation was expected to be

near completion by year-end.
He acknowledged that the

| global economic woes, especially

the liquidity/credit crunch, may
be a factor in securing a bidder
and good offer for the 51 per cent

’ BTC stake the government is sell-

ing, given the issues some groups
may have in accessing on
financing.

be complted in two to three weeks

However, Mr Francis said the
BTC privatisation committee, of
which he is deputy chairman,
remains confident the process:

' will be completed.

“We believe that based on the
kind of contact we have had with
parties outside the Bahamas, we
think that the interest is really
quite good, and we are going to
attract a sufficient number of

* major players who would love to

own BTC,” the former Central

‘SEE page 2B





































for a better life

Ocean development, alleging
that it-had removed RHS

Ventures as general partner. \

However, that was vehement-
ly denied by Mr Stein.

The Plainfield spokesman
told Tribune Business: “As a
matter of policy, Seaside does
not comment on ongoitig liti-
gation or arbitration.

. “A notice to remove RHS -

Ventures as general partner
was issued on October 20,
2008, and as of November.7,
2008, RHS is no longer the

general partner and has been ©

replaced by an affiliate of Sea-
SEE page 4B

cover debt costs

a m By NEIL HARTNELL
: Tribune Business Editor: |

The Nassau Airport Development Company (NAD) is plan-
ning to raise the user fee airline passengers are charged at various

' stages during the airport’s $410 million reconstruction, as a way to

meet debt servicing costs, with the full-build-out’s progress depend-
ing on how deep the economic downturn goes.

A document on the airport’s redevelopment financing, which has
been seen by Tribune Business, said ‘the user facility fee for inter-
national passengers, currently some $15, was projected to rise to $20
per person by the end of the 2009 first quarter.

It was then estimated to increase at the completion of each stage

_ in the Lynden Pindling International Airport’s (LPIA) redevel-

opment. Once the new US departure terminal is completed, sched-
uled for August 2010, the passenger user facility fee is projected to
increase to $25 per person.

After the second stage completion, which is scheduled to be the
new US and international arrivals terminal in December-2011, the
passenger user facility fee is projected to be $32.50 per person, and
when the final stage - the international/domestic departures and
domestic arrivals is completed by year-end 2012 - the fee is | pro-”

- SEE page 3B

OECD ‘more worrisome’

for Bahamas than Obama

SPAY Sy

a By NEIL HARTNELL _
Tribune Business Editor

The revival of the OECD’s ‘harmful
tax practices’ initiative is “much more
worrisome” for the Bahamas financial

' services industry than an Obama presi- *
dency, a US tax expert said yesterday,
with its best defence being to play on
the “discriminatory” nature of the plan
with the new White House incumbent.

Dr Dan Mitchell, a senior fellow with
Washington-based economic group, the
Cato Institute, who was in the Bahamas
to address a Nassau Institute seminar,

. acknowledged that Mr Obama’s elec-

SEE page 2B |

- CORPORATE CENTRE: CORNER OF VILLAGE &S

«

‘ip

Sand Oran :

* US tax expert Says OECD, EU and
Sarkozy initiative ‘like horror movie
part two where Jason comes back
to life
* Bahamas urged not to ‘feel
suicidal’ on Obama Bill, as TIEA
- should ‘de-fang’ it
* Government urged to emphasise
discriminatory nature of OECD
initiative to new US president






FG FINANCIAL

PENSIONS & INVESTMENTS



PAGE 2B, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



tonisio D Aquiliat



«Tribune Business Reporter



This year’s Crime Prevention Seminar,
sponsored by the Bahamas Chamber of ©
Commerce and the Royal Bahamas Police
Force, will focus on ways business owners
can protect their companies against crime
from employees and customers, which costs
them between $5-10 million per year.

Such theft, said Chamber president
Dionisio D’Aguliar, was far more costly
than the random armed robberies that grab
media headlines. While it was hard to ful-

ly quantify the impact, it runs in the mil-

lions.

- president said.

“Internal theft, whether it is theft by
employees, or theft by customers, accounts
for an estimated loss of between $5-10
million per year for Bahamian-based busi-
nesses, and has inflicted significant damage
on many business persons,” the Chamber

He said one of the ‘event’s objectives
was to focus on, and develop effective
strategies, for businesses to arrest this prob-
lem, whether it be through the use of sur-
veillance cameras, internal intelligence net-

said.

works, tracking devices, inventory man-
agement systems, high tech cash registers
and scanning devices.

Another concern for the Chamber pres-
ident was the lack of early recourse
employers have in the event that they
become victums

“A lot of businesses are fed up with the
courts and the length of time it takes to
deal with a matter, so they often just don’t

’ want to report the matter,” Mr D’ Aguilar

Commissioner of Police, Reginald Fer-
guson, noted Mr D’Aguilar’s concerns, and

crime.

Theft costs business $5-$10m per annum

m@ By CARA BRENNEN-BETHEL said the police try to solve cases and send
them to the judiciary as soon as possible.
He said the police were always pleased
to partner with the business community,
particularly before the Christmas season,

when there tends to be an increase in

_ Scheduled speakers for the one aay)
event, set for November 13 at the Police
Conference Centre include, Craig Cates,
Douglas Hanna, Hulan Hanna, Raymond

Gibson and Tom Simpson, the president of

the National Association for Information
Destruction.



BIC chairman confident over buyer interest | OECD ‘more worrisome’
for Bahamas than Obama

FROM page one

Bank governor told Tribune Busi-
ness.

As it relates to Bluewater
Communications Holdings, the

former lead bidder that was given .

- an exclusivity period in which to
negotiate BTC’s purchase by the
former PLP administration, Mr
Francis said there had been fairly
intensive negotiations between
this administration and Bluewater
which were now “ practically
completed”.
Tribune Business revealed sev-
_ eral weeks ago that the privati-
sation committee had terminat-
ed Bluewater’s exclusivity peri-

_ od, and that the matter could dad

up in arbitration in the UK.

_ It is believed that the Govern-
ment and the committee want to
open the privatisation process up
to other buyers, to see if better
offers may be out there.

Mr Francis said yesterday that

-the valuation process for BTC,

which is being conducted by
KPMG, is not quite complete. “It
is very important, some of the
technical evaluation that has been
necessary, in order to be absolute-
ly sure that you’re taking into

account any issues that exist today —

that would impact wie price,” he
explained.

Mr Francis said the Syaliation

will include the technical and

Inflatable Seat
Giveaway has come!



2 ea, alas

financial aspects of BTC, as well

as the contractual arrangements

they have with overseas compa-

nies that have to be evaluated:
He said the exercise should be

' finished in about two to three

weeks: _

Mr Francis added: “A very
important point is this; the fact
that we.are going to introduce
competition with two new
licensees in the mobile sector. and
that process begins one year after
the sale. That means two new
entities wanting to establish their
own BTC effectively. Where do

you think that they are going to”

get their people from?
“If Iam BTC I am more con-
cerned now about keeping my

enna

people, because I know that in'a
year’s time the minute you open
the gate, they will apply for a
licens. Once they get it, they will
look at building the infrastruc-
ture that they need, and then they
need to hire people - that would
happen within six months of them
opening up.

“So you will have fairly fierce
demand for people who are
skilled in telecommunications,
and this is something that the new
owner of BTC will have ‘to be
really careful about - not to lose
good people.”

Mr Francis was the guest
speaker at the Sunrise Rotary
Club at the British Colonial
Hilton yesterday.

atthe dé sts aere)
i tere etigems) maze) (tire (|
- with Buca ead Poet

f HUGGIES diapers
cies



FROM page one

tion success was “not good news”
given his intentions to target
international financial centres
such as the Bahamas.

But while this nation was on
the list of so-called tax havens
sponsored by the ‘Stop Tax
Haven Abuse Act’ that Mr Oba-
ma had sponsored as a Senator,

Dr Mitchell said: “At least for the |

Bahamas, there’s some reason not
to be suicidal.”

He explained that this nation’s
decision to sign a Tax Informa-
tion Exchange Agreement
(TIEA) with the US in 2001
would act as a defence to the
‘Stop Tax Haven Abuse Act’, and
could lead to it being taken off
the legislation’s ‘blacklist’ as it
made its way through Congress
because the Bahamas was already
providing tax information in spe-
cific cases.

“The Bahamas is on the ‘black-
list’ of that piece of legislation,”
Dr Mitchell said. “Almost cer-
tainly, an Obama victory means
the odds of that piece of legisla-
tion going through are greatly
enhanced.

“The Bahamas knuckled under
a year ago to a TIEA with the
US.5.5 The Bahamas ‘made a
political calculation that it had to
appease the 800-pound gorilla of

the world economy.”

With the TIEA defence and
prospects of being removed from
the ‘Stop Tax Haven Abuse Act’

‘blacklist’ at least providing some -

reason for optimism, Dr Mitchell
added: “The much more worri-
some thing for the Bahamas is
not the ‘Stop Tax Haven Abuse
Act’. The TIEA should de-fang
that to some extent.

' “Rven if there was no turmoil
in financial markets, the Obama
victory will give the OECD a new
lease of life...... The OECD is
going to be much more aggres-

sive and is talking-about putting

together a new ‘blacklist’. Sign-
ing the commitment letters i is no
longer good enough.”

The Bahamas in 2002 agreed
to commit to the OECD’s
demands for greater transparency
and a willingness to enter tax

information exchange agree-.

ments, provided there was a ‘lev-

‘el playing field’, where all OECD

members and competitors agreed
to implement the same standards
at the same time.

Yet the OECD now seemed
prepared to sweep the ‘level play-
iug field’ condition aside,-Dr

_ Mitchell said, on the grounds that

“we don’t care. You're little, and

we can bully you.-If you don’t’

sign TIEAs and surrender your
fiscal sovereignty, you’re on the
‘blacklist’”.

_ The Bush administration had
for eight years ensured the





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OECD ‘harmful tax’ agenda had
made no progress, but the Paris-
based forum would now move
forward whether the US under
Obama was “an enthusiastic par-
ticipant or go ahead if you want
participant”. ‘
And the third front ranged
against the Bahamas and other
international financial centres was

‘the demands from the likes of

French president Nikolas Sarkozy
for a new global system of finan-
cial regulation. .

Dr Mitchell said the French
leader and others were using the
global financial crisis to generate
support from other countries,
claiming he had evidence that ©
international financial centres
were responsible for the current
turmoil. This was even though
none existed. .

“Part.of that i is going to be very
disadvantageous for the
Bahamas,” Dr Mitchell said of
Mr Sarkozy’s plans. He added
that the French leader was dis-
guising his intentions behind the
word ‘transparency’, using it to
“totally eliminate financial priva-
cy” and uncover beneficial own-
ership information.

“Sarkozy is using one word that
sounds good to people, but means
something totally different,” Dr
Mitchell said, with many believing
the French leader was calling for
transparency in scormpany
accounts.

‘The EU is also moving for-
ward,” Dr Mitchell said of the
group’s savings tax directive. “It’s
not just their members, their

_ dependent territories, the other

five nations on their list that
they’re going after. Now they’re
going after Singapore, Hong
Kong, the Bahamas and Panama.

“It’s sort of like a horror movie
part two, where Jason’ comes back
to life.”

When it came to international
financial centres defending their
positions, Dr Mitchell said-in the
first instance that it would all
revolve around the ability of
Switzerland, Luxembourg and
Singapore to “hold firm” on the
‘level playing field’ condition.

While confident they would be
able to do this, Dr Mitchell said
there was more uncertainty over .
whether the Bahamas and small-
er nations would be-able to do
likewise, especially when the likes
of the US, UK and Europe exert-
ed pressure and threatened
‘blacklisting’.

He added that another key,
with the OECD, EU Savings Tax
Directive Phase II and Sarkozy
initiative all going on at the samé
time, was “to what extent will
investors be scared away from the
Bahamas.

“To what extent to those inter-
national investors decide, one
year from now, that the Bahamas
is too risky. That is the weapon
the enemies of the Bahamas
have.”

Apart from advising the
Bahamas and other international
financial centres to link-up to
defend themselves, Dr Mitchell
added that the ‘discriminatory’
nature of the OECD initiative
should be raised with the Obama
administration, as this was a tactic
that should play well.

“Tt will all be done in a dis-
criminatory way, as Switzerland,
Luxembourg and Singapore will
not face that pressure,” Dr
Mitchell explained.

“It’s important for the Bahami-
an government to reach out to
the Obama administration, and
along the lines that a lot of what
the OECD is doing is discrimi-
natory.”

Dr Mitchell last night pointed
out that “tax havens play a critical
role in being places for interna-
tional commerce, international
financing. Tax neutrality is very
critical when doing these multi-
jurisdictional activities. They are
critieal for international flows

“The academic evidence is that
tax havens are an enormous plus

for the global economy.”

INSIGHT

For the stories

behind the news,
read Insight
on Mondays



THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 3B



Airport user fee rises are _ | Viewers impacted by digital
planned to cover debt costs TV conversion less than 2%

FROM page 1B

jected as $40 per person.

NAD has allowed for flexi-
bility when it comes to the pas-
senger user facility fee, with the
sums charged being less if the
economic climate demands.

Some are likely to object to
the projected fee increases, but
it is critical to remember that
LPIA’s financial problems when
it was in the Airport Authority’s
management stemmed largely
from the fact that revenues had
not kept pace with maintenance
demands, the result. being that
the facility’s up-keep and main-
tenance deteriorated marked-

ly. As the NAD document said: -
“Passengers at the airport have,

shown little resistance to the
higher fees of $22 (passenger

_ facility charge of $15 and secu-
rity fees uf $7, resulting in an
increase of 873 per cent) that
went into effect on July 1, 2007,
at the airport.

“To the contrary, the airport
experienced passenger growth
of 6.1 per cent in the quarter
ending March.2008. Airport
charges are a small proportion
of either air travél cost or of
total tourism costs.”

However, passenger traffic
through LPIA was 6.3 per cent
lower during the 2008. third
quarter that ended on Septem-
ber 30, 2008, something that was
attributed to the economic slow-
down and passage of Hurri-
canes Ike and Hanna.

The Airport Authority Act
amendment earlier this year
was designed to allow the
Authority to amend fees with-
out first requiring government
consent. Now, NAD and the



Airport Authority are working
to amend their Transfer Agree-
ment to reflect this, with the

current proposals involving -

NAD disclosing proposed rate
increases at least 180 days prior
to them coming into effect.

There appears to be no short-
age of revenue streams avail-
able to NAD when it comes to
paying for the airport’s rede-
velopment, with current aero-
nautical fees said to be 36 per
cent below the Caribbean
regiOnal average.

Aeronautical revenues, which
include landing fees, aircraft
parking fees, terminal fees, and

fees for the use of aircraft ©

bridges, account for 76 per cent
of NAD’s total income streams.
Non-aeronautical revenues,
which come from fuel royalties,
vehicle parking, concessions and
advertising, account for the
remaining, 24 per cent.

For the year ended June 30,
2008, the passenger facility fee

generated 82.4 per cent of

NAD’s revenues, or some
$21.554 million out of $26.183
million. Of the rest, landing fees
produced the next largest

- chunk, at 12.9 per cent or $3.381

million.

Non-aeronautical fees pro-
duced $8.445 million in rev-
enues for the 12 months to June
30, 2008, giving NAD a total of
more than $34.5 million in rev-
enues for that year. :

“NAD’s.rate setting strategy

will be to raise rates as neces-

sary at the completion of each ©

stage of the [construction] to
meet projected operating and
capital expenditures, meet
scheduled debt service, fund the
debt service reserve account,

~ comply with financial covenants

~ WAREHOUSE FOR RENT
SIUM

and maintain an investment
grade rating on its senior debt
facilities,” the NAD document
said. “NAD’s rate setting strat-
egy also considers rates at other
regional airports, and we intend
to maintain LPIA’s competi-
tiveness in the region.”

NAD is also planning to
restructure the rental agree-

-ments for existing food and bev-

erage retailers at the airport
when their current leases end,
including “an upside revenue
sharing” or participation com-
ponent as well as a flat monthly

_ fee. The LPIA reconstruction

schedule has also taken into
account the deteriorating eco-
nomic environment, the financ-
ing document indicating that
construction on the US/inter-
national arrivals and interna-
tional/domestic departures and
domestic arrivals terminal build-
ings might be delayed or: post-
poned if the economic down-
turn proves much more pro-
longed than feared. .

NAD is seeking $310 million
in financing for the first stage
of LPIA’s redevelopment, con-
sisting of a $90 million senior
secured bond issue (some $20
million of which will be in
Bahamian dollars); a $140 mil-
lion revolving credit facility; and
secondary $80 million debt facil-
ity.

The proceeds, apart from re-
financing an $8u0 million, sev-

en-year term loan issued in.

2007, will finance some $196.1
million in construction costs.
The NAD offering. is a pri-
vate placement targeted ai spe-
cific, sophisticated investors
such as institutions and high net
worth institutions. Members of
the public should not apply.

14’800 sq.ft., 22’ Floor to ceiling, .
Modern, Complete with Admin Offices, Secure,
Fenced in, With all utilities. Ample Parking in Front.
Additional Space at Rear, Perfect for Storage,

Including containers,

On cleared leveled land, to rear boundary.

IDEAL FOR CONTRACTOR

: sR
SES eT

THE WESTIN |

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort



| Sheraton
Grand Bahama Island

OUR LUGCAYA
RESORT

EXCELLENT ST kee NTN EXISTS FOR
DIRECTOR OF FOOD & BEVERAGE

Large hotel operator seeks an executive level e
beverage outlets and lead its team. The success

xpert to head its multiple food and
ful candidate will be responsible

for the overall organization, sales and profitability of the Food and Beverage department,
including its 13 restaurants and bars, room service, kitchen, stewarding and conventions

and catering departments.

The successful candidate must possess the following minimum requirements:
* Previous experience as a Food and Beverage Director with 5-7 years
comprehensive experience in Food and Beverage Management inclusive of
the above areas with a proven record of accomplishments.
Strong product knowledge of Food and Beverage including current trends in the

business.

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Experience in menu engineering, inclusive of food, beverage and wine.

Strong leadership skills with the ability to select, train and develop employees;
maintaining a positive and productive environment.
Excellent guest and employee relation skills.
Excellent communication skills (oral and written). Fluency in English is necessary.
Strong organizational abilities.
The ability to proactively and successfully manage the financial aspects of the Food
and Beverage operation including budget preparation, revenue enhancement,

and Food and Beverage cost control and productivity.
A Bachelor’s Degree in Hotel Management will be an asset.

Technological proficiency of Microsoft Word and Excel, and Micros systems.

We offer an excellent benefit package and competitive compensation. For full
consideration, all interested applicants should forward a copy of their résumé no
later than November 21st, 2008 to the attention of Director of Human
Resources at www.ourlucayjobs @starwoodhotels.com or fax to (242) 350-5065.









@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

Less than 2 per cent of Bahamian television
viewers will need to get a set-top box for when
ZNS television broadcast signals go digital
next February.

’ Michael Moss, chairman of the Broadcasting
Corporation of the Bahamas, said that “broad-
ly speaking, whereas US television broadcast
signals will go digital next February 2009, and
while much of ZNS’ digital conversion activity,
including work flow processes, production
activities, etc. is underway and scheduled for

completion during 2009, its broadcast signal is .

not targeted to go digital until sometime in
2010”.

Mr Moss said completion of the in-house
conversion processes will enhance ZNS' sig-
nal presentation, but will have no adverse
impact on those presently receiving ZNS'
broadcast signal.

“However, once the broadcast signal goes

digital, the handful of individuals, estimated

to be about 2 per cent, presently receiving
broadcast signal or ‘free to air’ sets ( those
with no cable connection,) will require a set top
box in order to continue enjoying signal recep-
tion by that method,” he said. Cable subscribers
will experience no adverse impact.

r Moss explained that worldwide, most
broadcasters have targeted 2012 for digital con-
version of their television broadcast signals. °

serving All Your Shipping Needs

USMC SAT T iT FMam rT aL Dt ey] em ed 1 cee] Vitale (zs)

¢ Full and Less Than Container Loads
¢ Refrigerated/Frozen Goods

¢ Vehicles

¢ Construction Equipment & Materials « ~
¢ Household Goods

¢ Specialized Equipment
¢ Scheduled & Reliable

Visit us at www.crowley.com.

Crowley Bahamas Ltd.
Arawak Cay

Nassau, Bahamas

TEL: (242) 325-8980/81/82/83
Fax: (242) 325-8952


















ee aa

People Who Knowâ„¢

2 a
\ d





saniaderannannnnsnnnnrnagnraAnnnibithMatraanAnshninAKnnntAthentAntARARAnsnAnashAnAnQanAAAQRAAOAAAnOnssAAAehiAine sAAARAAIRAAAAnADAQAARARAAnAnAAASAAQAnnannnnnnant

| COMMONWEALTH OF THE BAHAMAS

Bararenennnnnnnnnnnnnnnnnnnnnnnnnnnan

IN THE SUPREME COURT

Aver ivin na nu ARRAN AANA



Common Law and Equity Division

3.

BETWEEN

i



MONTE CARLO IN PARADISE
CONDOMINIUM

Plaintiff

AND

CARIBBEAN BUILDERS & CONSTRUCTION
COMPANY LIMITED

Defendant

ORDER.

Dated the 21st day of November, 2006.

This action having been tried before the Honourable Mr. Justice Faizool Mohammed |
without a jury at the Supreme Court of The Bahamas, Bank Lane and the said
Honourable Mr. Justice Faizool Mohammed having on the 17th day of November,
2006 ordered that the judgement as hereinafter provided be entered for the Plaintiff

as follows:

(i) It is adjudged that the Defendant do pay the Plaintiff $6,819.00 which amount
represents damages and aggravated damages; and
(ii) The costs of action to be taxed if not agreed.

Dated the 21st day of November, A. D., 2006.

REGISTRAR

FERREIRA & COMPANY

Chambers
Kemp Building

#39 East Street North

Nassau, Bahamas

Attorneys for the Plaintiff

PENAL NOTICE

AND TAKE NOTICE that unless you the within-named, CARIBBEAN BUILDERS
& CONSTRUCTION COMPANY LIMITED, obey the directions contained in this
Order, you will be guilty of contempt of Court and will be liable to be committed to

prison.



PAGE 4B, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE





Investors battle for | Colsalmperial
South Ocean control

FROM page 1B

side.

“We are confident that the
partnership’s investment in
the Bahamas will be an excel-
lent investment over time.”

Yet Mr Stein hit back,

“telling Tribune Business: “I
am informed by counsel that
Plainfield's effort to take uni-
lateral control of the develop-
(ment opportunity I have cre-
ated has no legal effect,

“My lawyers have com-
menced an arbitration pro-

ceeding as a result of Plain-
field's numerous breaches of
its obligations. We are confi-
dent we will prevail.

“As always, I continue to be
actively committed to the suc-
cess of the development. It
would be inappropriate for me
to comment further at this

, time."

The arbitration demand, a
copy of which has been
obtained by Tribune Business,
alleged that Seaside Heights,
the Plainfield investment vehi-

cle, had breached contracts.

and duties related to the rede-
velopment of the South Ocean
resort’s 375-acre site.

To develop the property,
the complaint alleged that a
partnership agreement was
signed on August 6, 2007, in
which RHS Ventures was the

general partner and RHS

Holdings a limited partner.
Yet Seaside, which was also a
partner, had extensive pow-
ers under the partnership
agreement.

In the demand, Mr Stein
and RHS alleged that Plain-
field and Seaside had “failed
to respond to numerous
requests and calls for action
made by RHS Ventures on

NOTICE

‘BRIDGEWATER PROPERTIES LIMITED
(In Voluntary Liquidation)

NOTICE IS HEREBY GIVEN that an Extraordinary General
Meeting of the Shareholders of Bridgewater Properties Limited
is hereby called to be held at the Registered Office of the
Company, Deltec Bank & Trust Limited, Lyford Cay, New
Providence Bahamas, on the 10" day of December 2008 at 9:00
0’clock in the morning.

The sbie and purpose of the said meeting is to have laid
‘|. before the Shareholders of the Company, the accounts of the
Liquidator, Shareece E. Scott, showing the manner in which the
winding up of the Company has been conducted, the property
of the Company distributed and the debts and obligations of the
Company discharged, and also to hear any explanation that may

be given by said Liquidator.

Dated the 6" November 2008.

Shareece E. Scott
Liquidator







NOTICE
Appointment of
Chief Executive Officer

Bahamas Supermarkets Limited is pleased to
announce the appointment of
Mr. Sunil Chatrani as Chief Executive Officer.
_ Mr.Chatrani replaces Mr. Stephen Boyle who
_ resigned effective September 30, 2008.

BAHAMAS



East-West Highway *« P.O. Box N 3738
Nassau, Bahamas « (242) 393-2830

NOTICE

IN THE ESTATE OF
MARY LOU VAETH,

late of' 7602 SE 12th
Circle in the City of Ocala
in Marion County in the
State of Florida,.one of the
United States of America,

Deceased

NOTICE is hereby given that all persons
having any claim or demand against or
interest in the above Estate should send same
duly certified in writing to the undersigned
on or before 12" December, 2008 after which

date the Executor will proceed to distribute
the assets of the Estate having regard only
to the claims, demands or interests of which
they. shall then have notice AND all persons
indebted to the above Estate are asked to
settle such debts on or before 12 December,
2008

FREDERIK F. GOTTLIEB & CO.
Attomeys for the Executors

P.O. Box AB-20405

Bay Street, Marsh Harbour

Abaco, The Bahamas



matters essential to the busi-
ness of the partnership - deci-
sions which normally would
be beyond the purview of a
‘limited partner’, but over.

_which Seaside had a veto pow-

er by virtue of the unusually
broad provisions of the Part-
nership Agreement ‘at issue
here”.

The arbitration demand
alleged that RHS Holdings’
contribution to the partner-
ship was the 100 per cent equi-
ty in the New South Ocean
Development Company, the
Bahamas-domiciled company
that Mr Stein used to purchase
the project’s land and cover
other pre-development costs.
New South Ocean Develop-
ment Company’s investment
was pegged at $7.56 million.

Seaside’s initial contribution
was an alleged $2 million loan.
that was converted into equity,
once the Government agreed
the re-routing of south-west
Bay Street away from the
development site.

The arbitration demand
then claimed that Seaside was
obliged to contribute a further
$47.7 million in capital, some

_ $3.3 million initially, and $37.4

million over time in response
to calls from RHS Ventures.

The partnership agreement
allegedly stipulated that Sea-
side held a. 51 per cent equity
share; RHS Holdings a 48 per
cent share; and RHS Ventures
1 per cent. ,

Seaside was also alleged to
have made mo‘e than $57 mil-
lion in loans to the partner-

ship controlling the South.

Cla. development, com-
pared to its $42.7 million in

equity capital.
- Those loans involved
alleged advances of $31.1 mil--

lion on February 15, 2008;
$13.095 million on the same
date; and $12.691 million on
August 1, 2008.

Those loans were secured
by a mortgage on the South
Ocean real estate, and a
pledge to Seaside of the out-
standing stock in RHS Devel-
opment.

Seaside, though, was the
second investor to hold a
mortgage on the property,
with an investment vehicle
owned by the Canadian Com-
mercial Workers Industry
Pension Plan (CCWIPP) also
having a $65 million interest
secured on the real estate.
CCWIPP is not involved in
the arbitration situation..

Mr Stein.and RHS Ven-
tures alleged that they and
Plainfield met with Prime
Minister Hubert Ingraham on
June 27, 2007, at which the
hedge fund “confirmed their
commitment to the project,
including providing the
required financing for the

$235 million infrastructure
phase of the project, as well |

as substantial financing for the
resort hotel and casino”.
That was allegedly con-
firmed in an August 3, 2007,
letter from Plainfield to the

Prime Minister, but the arbi-

tration demand alleged that it
had since violated its duties to
the South Ocean project and
the partnership by trying to
force RHS Ventures to “give
up their equity”.

managing agent
triples its agents

The managing agent for
ColinaImperial Insurance
Company has seen its agency
force triple from 15 to 48 in
the two years since it was
formed. .

Harold Antor, Tristar Insur-
ance Agents and Brokers’
president, speaking at the
company’s awards ceremony
to honour its associates and
executives, said: “With these

two years now under our belt,

Tristar has a positive trend
line which we fully intend to
escalate.”

“Ours is a new company

and a new concept in the
Bahamas. The effort on the
part of our team clearly shows
that a group of Bahamians can
work together to do some
great things and position for
an even greater future.”

The Tristar executive team,
comprising Mr _ Antor,
Dwayne ‘Pearce and Corinna
Neely, throughout the 2008
awards event provided top
staff members with gifts and
prizes, which included cash,
travel vouchers and plaques.

While many awards were
distributed to Tristar stand-
outs, one stood out among the

rest - the recipient of the E. '

Daphnie Hanna Award.

Dwayne Pearce, Tristar’s
principal, said that honour
was presented to the leading
Tristar agent. “This award
represents the indelible legacy

’ that the late Daphnie Hanna

left with the principals at Tris-
tar. Daphnie is represented in
the Tristar logo as the biggest
star in which all others should
emulate, and we would like to
memorialize her legacy in this
way,” he added.

Patricia Ferguson won the
E. Daphnie Hanna Award,
while Monique Beckles
earned the Rookie of the Year
Award which, recognised the
agent with the highest first
year commission in life sales.

Additional award categories
included the Conservation
Award, which recognized
agents with a 95 percent plus
persistency during the first
year commission, General and
Medical Awards respectively,
recognizing the agent with the
highest commissions in gen-
eral and medical business,
Branch of the Year, as wellas |
the Team Spirit Award, pre-
sented to the agent nominated
by fellow agents as a role
. model who inspires and moti-
vates the team. |

LEASE OF
OFFICE SPACE

Located Quantum Plaza, Soldier Road

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.

| Tf so, call us on 322-1986

and share your story.

NOTICE

BRIDGEWATER

PROPERTIES LIMITED

(In Voluntary Liquidation)

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P.O. Box N-3229, Nassau, Bahamas on
or before the 6" December 2008. In default thereof they
will be excluded from the benefit of any distribution made
by the Liquidator

Dated the 6" day of November 2008.

Shareece E. Scott
Liquidator .



NOTICE
_ Notification of Delay in Completion
of 2008 Audited Consolidated
Financial Statements

Bahamas Supermarkets Limited wishes to advise
’ that the date for completion of the audit of its
consolidated financial statements for the year
ended June 25, 2008 has been delayed to November

14, 2008,subject to the timely receipt of various
outstanding items by its auditors, KPMG.

| BAHAMAS of
ra) pet ul URE,
——— LIMITED i

East-West Highway « P.O. Box N 3738
Nassau, Bahamas ¢ (242) 393-2830

WANTED

Newly built complex located in a prime business"
area (comprising approximately 650 sq. ft. of
premium office space). Available for lease. Shared:
kitchen, bathroom and conference room facilities.
Ideal corporate environment for small business
operation. Plenty of parking space available.

Please convey your interest indicating type of
business and relevant contact information to

info@thecollabgrp.com





PUES ee




Successful candidate must be efficient, —

organized, responsible and reliable in
-addition to possessing a minimum of five
years experience in the field. Please note:
Confidentiality is of supreme importance.



Interested candidates should send resume
via email to:

Meno ene een




Legal Notice
NOTICE

SHARPINVEST HOLDING LTD.
In Voluntary Liquidation

Notice is hereby given that in accordance with Section
138 (4) of the International Business Companies Act,
2000, SHARPINVEST HOLDING LTD. is in

dissolution as of November 5, 2008.
International Liquidator Services Inc. situated as 35A

Regent Street, P.O. Box 1777, Belize City, Belize is the
Liquidator.

LIQUIDATOR





sh

De ee

Fashion mogul Nygard
to judge award winners



Peter Nygard

NOTICE

NOTICE IS HEREBY GIVEN that an Extrordinary General

Meeting of the Shareholders of Cable Beach Holdings Ltd. is.
hereby called to be held at the Registered Office of the Com-
pany, Ocean Centre, Montagu Foreshore, East Bay Street in the
City of Nassau on the Eighth day of December, 2008 at 10:00
o’clock in the forenoon. The object and purpose of said meeting
is to have laid before the Shareholders of the Company the ac-
counts of the Liquidators, Toni Y. Godet and Monalisa Hanna,

- Showing the manner in which the winding up of the Company

has been conducted, the property of the Company distributed
and the debts obligations of the Company discharged, and also
to hear any explanation that may be given by said Liquidators.

Dated the Seventh day of November, 2008.
Toni Y. Godet and Monalisa Hanna
LIQUIDATOS

of
Cable Beach Holdings Ltd.

Legal Notice

Notice

_Cable Beach Holdings Ltd.
_ din Voluntary Liquidation)

Bahamas-based fashion
mogul Peter Nygard will join
the panel of celebrity judges
formed to select award recip-
ients for the Islands of the
World Fashion Week.

Among the awards to be

' presented are the Sustainable

Eco-Fashion Award, the Cul-
ture & Fashion Award, the
NextGen Designer Award
and the Seals of Excellence.

Judging in the yarious cate-
gories, set to assess the 38
designers from 12 island states
presenting at Fashion Week,
will take place throughout the
entire week.

Candidates for the Sustain-
able Eco-Fashion Award and
the Culture .& Fashion Award

were judged at the Opening

Reception on the evening of
Wednesday, November 5.
However, the award recipi-
ents will not be disclosed until
the Closing Reception tomor-
row.

Mr Nygard, whose fashion
empire is based in North
America, resides in the
Bahamas at his luxurious
150,000 square foot private

- resort at Nygard Cay, at the

western tip of New Provi-
dence.

Mr Nygard will host and
entertain more than 200 invit-
ed guests of Islands of the
World Fashion Week at the

Share your news

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

you are raising funds for a
good cause, campaigning.
for improvements in the
area or have won an
award.

If.so, call us on 322-1986 © 7

and share your story.



Employment
Opportunity

Receptionist/Clinical Assistant

For Doctors’ Office
Applicants must be honest,
hard-working & pleasant

Please fax resumes to

resort after the Closing
Reception.

The guest list will include
fellow celebrity judges Nole
Marin, of America’s Next Top
Model; Susan Stein; Nick
Verreos of NIKOLAKI; and
Alphadi.

The after-party will be the
final event after a week of
social activities, which includes
a Welcome Reception at the
Graycliff/Humidor restaurant,
a Cultural Display hosted by
the Ministry of Tourism, and a
reception at the recently-
opened Bob Marley Resort.

Islands of the World Fash-
ion Week consists of 21 cat-
walk shows at the historic
British Colonial Hilton, while
the Opening and Closing
receptions will take place at
the Atlantis resort, Paradise
Island.

The event, endorsed by the
United Nations Educational,
Scientific & Cultural Organi-
sation (UNESCO), will high-
light and promote cultural
diversity and dialogue, and
draw attention to global issues
such as the environment and
climate change, the education
of youth in HIV/AIDS, and
poverty alleviation. — .





Stocks tumble

m NEW YORK



Wall Street plunged for a second day, triggered by computer
gear maker Cisco Systems warning of slumping demand and retail-
ers reporting weak sales for October, according to the Associated'|:
Press. Concerns about widespread economic weakness sent the’
major stock indexes down more than 4 percent Thursday, including
the Dow Jones industrial average, which tumbled more than 440
points to 8,695.79.

Major indexes have lost about 10 percent since Barack Obama was
elected president — a vote preceded by a steep rally — and the loss-
es represent the Dow's worst two-day percentage decline since the
October 1987 crash.

Paper losses during that time in U.S. stocks came to $1.2 trillion,
according to the Dow Jones Wilshire 5000 Composite Index, which
represents nearly all stocks traded in America.

Comments from Cisco that it saw a steep drop in orders in Octo-
ber and reports from retailers that consumers are skipping trips to
the mall provided fresh evidence of the economy's struggles. Wor-
ries about automakers and the financial sector compounded

investors' unease.

EMPLOYMENT
OPPORTUNITY

Medical firm is accepting applications for the post
of Customer Service/Registration Clerk.





‘Applicants should have:

¢ Computer Operation Skills
¢ Ability to work shifts
° Good « customer service as

Previous experience in the customer service and
medical area is a plus.

Interested applicants should send resumes via
email to nassautechjob@yahoo.com



As a_ privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer in
the Bahamas, we are seeking an

Electrical Engineer.

The candidate/s should fave’ ‘proven. experience.
in Generators with more than 150KWs, Transfer
Switches, and Generation. Applicants with formal
education in electrical work are preferred.

Assist with troubleshooting of new_ products/
equipment (Both at the circuit board level and
system level).

Support Engineering efforts with ECO (Engineering
Change Orders) and EMO © (Engineering
Modification Orders).

Support Engineering with locating new parts,
suppliers and manufacturing solutions.

Actively seeks out solutions to technical problems.

Send complete resume with education and work
experience to M & E Limited, P. O. Box N-3238,
Nassau Bahamas, Attention: Human Resources

Department, or email: me@me-lItd.com.

‘Only persons being interviewed for this
position will be contacted.

Creditors having debts or claims against the above-named Com-
pany are required to send particulars thereof to the undersigned
c/o P.O. Box N-7776 (Slot 193), Nassau, Bahamas as Liquidators
on or before the Seventeeth day of November, 2008. In default
thereof they will be excluded from the benefit of any distribution
made by the Liquidator.

Dated the Seventh day of November 2008.

Toni Y. Godet and Monalisa Hanna

-

LIQUIDATORS
of
Cable Beach Holdings Ltd.

Legal Notice
NOTICE

Cable Beach Holdings Ltd.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General. Meeting of the Shareholders of the above-named
Company duly convened and held on the Third day of No-
vember, 2008 the following were passed:

RESOLVED that Cable Beach Holdings Ltd.
be wound up voluntarily.

RESOLVED that Toni Y. Godet and Monalisa
Hanna be appointed the Liquidators for the purpose
- of such winding up.

Dated the Seventh day of November, 2008.

H & J Corporate Services Ltd.
Registered Office
for the above-named Company

394-1758

Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark .

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class'B Preference
Freeport Concrete

ICD Utilities

J. S, Johnson

Premier Real Estate

1000.00
1000.00
"1000.00
1000.00

Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings

Bahamas Supermarkets
RND Holdi

Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity [nternational Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund

’ ES Veinencial Diversified Fund

BISx ALL SHARE INDEX - 19 Dec 02 = 1,
52wk-Hi - Highest closing price In last 52 woeks
52wk-Low - Lowest closing price In last 52 weeks
Previous Close - Previous day's woighted price for daily volume
Today's Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day
- Number of total shares traded today
in the last 12 months
12 month earnings
ate 8/8/2007
Ds ALO 7IVAI2007

Last Price
w rokly Vol.

2.82
2.44

(MARKET TERMS
YIELD - last 12 mont
Bid $ - Buying price of Colina and Fidelity
Ask $ - Sdlling price of Colina and fidelity
- Last traded over-the-counter price

N/M - Not Me
FINDEX - The



EG CAPITAL

MARKETS
BROKERAGE & ADVISORY SERVICES

ovo00000g000g0

2000000090000900000090)

7T% 19 October 2017
Prime + 1.75% 19 October 2022
T% 30 May 2013
Prime + 1.75% 29 May 2015

N/M
N/M
256.6

30-Sep- 08
31-Aug-08
17-Oct-08
- 30-Sep-08
30-Sep-08
30-Sep-08
30-Sep-08
31-Dec-07
30-Sep-08
30-Sep-08
30-Sep-08
30-Sep-08

- Trading no volume of the prior week
-Acom mpany's

reported earnings per share for the last 12 mths

lingful +
Fidelity Bahamas

Stock Index. January 1, 1994 = 100





PAGE 6B, FRIDAY, NOVEMBER 7, 2008 THE TRIBUNE

wr a rt os 8

SS

!

KPMG FAS Services Ltd. Telephone 242 393 2007

Fema

Financial Advisory Services Fax 242 393 1772
PO Box N 123 . Internet www. kpmg.com.bs
Montague Sterling Centre ;
East Bay Strect
Nassau, Bahamas
INDEPENDENT AUDITORS’ REPORT s

To the Shareholder of The Bank of Nova Scotia International Limited

We have audited the accompanying non-consolidated balance shcet of The Bank of Nova Scotia
International Limited (‘the Bank") as at October 31, 2007, and a summary of significant
accounting policies and other explanatory notes (together “financial statement"). The financial
statement of the Bank as at October 31, 2006 was not audited.

Management's Responsibility for the Financial Statement

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

Auditors’ Responsibility

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

An audit involves performing ‘procedures to, obtain audit evidence about the amounts and
disclosures in the’ financial statement. The procedures selected depend on our judgment,
including the assessment of the risks of material misstatement of the financial statement, whether
due to fraud or error. In making those risk assessments, we consider internal control relevant to
the Bank's preparation and fair presentation of the financial statement in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Bank's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made
by management, as well as evaluating the overall presentation of the financial statement.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.

Opinion
In our opinion, the financial statement presents fairly, in all material respects, the financial

position of the Bank as at October 31, 2007 in accordance with IFRS.

Emphasis of Matter

Without qualifying our opinion we emphasize that this financial statement docs not comprise a
complete set of financial statements prepared in accordance with LFRS. Information on results of
operations, cash flows and changes in equity is necessary to obtain a complete understanding of
the financial position, performance and cash flows of the Bank.

KPMG

Nassau, Bahamas
October 30, 2008

te ne niet tN

THE BANK OE NOVA SCOTIA INTERNATIONAL LIMITED _





Non-consolidated Balafice Sheet S002
4 Eel A ay C AMY IES .
October 31, 2007, with corresponding figures for
(Expressed in United States dollars)
LL SSS
: Note 2007 2006
($'000s) ($'000s)
: : (Unaudited)
Assets
Cash at affiliated banks 14 3,338 1,309
Deposits with affiliated banks 14 $16,772 ‘917,222
: 3 920,110 918,531
+ Advances to subsidiary 4,14 1,705,143 2,059,993
Total return swaps Ss: 304,940 225,265
Other receivables ‘ 5 : 6,14 ~ 55,518 48,033
Investments in subsidiaries f 4,14 2,504,256 2,296,350

cat Se Ce Rd Say oe GG hae ae eS
Liabilities and Equity ee

Due to affiliated bank => 14 : 1,991 2,123
Accrued expenses & other payables : 7,14 ; 46,559 11,192
Notes payable 8,14 75,000 - 293,500
Foreign exchange contract 9,14 - 203,107
Equity linked note 5 882,512 803,287

Redeemable shares held by Parent Bank ©. 10,14 59,260 « 59,260 .
“1,065,322 1,372,469 |

* Equity

Share capital aay nl 2,792: 2,792
Share premium "1,466,559 1,466,559
Contributed surplus 299,748 299,748
Retained earnings 2,655,546. 2,406,604
4,424,645 4,175,703
Commitments and contingencies 7,15 :

5,489,967 5,548,172



See accompanying notes to non-consolidated balance sheet.

This non-consolidated balance sheet was approved on-behalf of the{Board of Directors on
October 30, 2008 by the following: j

oe o . Director

Notes to Non-consolidated Balance Shect

October 31, 2007
(Expressed in United States dollars)

1. Reporting entity



,

SSR ROTTEN:

(d) Functional and presentation currency

The non-consolidated balance sheet is presented in United States dollars (US$), which is
the Bank's functional and prime operating currency. Except/as indicated, financial
information presented in US$ has been rounded to the nearest thousand, The Bahamian
dollar is the currency of the country where the Bank is domiciled.

(c) Use of estimates and judgements

(

The preparation of the non-consolidated balance sheet in contormity with IFRS requires
management to make judgements, estimates and assumptions that affect the application
of accounting policies and the amounts reported in the non-consolidated balance sheet
and accompanying notes. The estimates are based on relevant information available at
the non-consolidated balance sheet date and, as such, actual results may differ from
these estimates.

‘The estinaites and underlying assumptions are reviewed on an ongoing basis. Revisions
to accounting estimates are recognized in the period in which the estimates are revised
and in any future periods affected,

In particular, information about significant areas of estimation uncertainty and critical
judgements in applying accounting policies that have the most significant effect on the
amount recognized in the non-consolidated balance sheet are described in notes 2 (g)
(iii) and (iv). : ‘

) New standards and interpretations not yet adopted , a

Up to the date of issue of this non-consolidated balance sheet, the IASB has issued a

number of amendments, new standards and interpretations which are not yet effective for

the year ended October 31, 2007 and which have not been adopted in the non-consolidated

balance sheet. : ,
The Bank is in the. process of making an assessment of what the impact of these

amendments, new standards and new interpretations is expected to be in the period of

initial application, So far it has concluded that-the adoption of them is unlikely to have a

significant impact on the Bank's results of operations and financial position.

In addition, JFRS 7 Financial Instruments: Disclosures and the Amendment to IAS ]
Presentation of Financial Statements: Capital Disclosures require extensive disclosures
about the significance of financial instruments for an‘entity’s financial’ position and
performance, and qualitative and quantitative disclosures on the natyre and extent of
risks. IFRS 7 and amended IAS 1, which become mandatory for the Bank's 2008 non-
consolidated financial ' statements, will require extensive additional disclosures with
respect to the Bank’s financial instruments and capital.

(z) Financial instruments ;
i) — Non-derivative financial instruments

Non-derivative financial. instruments comprise cash and deposits with
affiliated banks, advances to subsidiary, other receivables, due to affiliated
bank, accrued expenses and other payables, notes payable, and redeemable
preference shares held by Parent Bank. Non-derivative financial assets are
classified as Iqans and receivable. Non-derivative financial liabilities. are
classified as financial assets not at fair value through profit and loss.

Non-derivative financial instruments are recognized initially at fair value plus,
for instruments not at fair value through profit or loss, any directly attributable

' transaction costs. Subsequent to initial recognition non-derivative financial
instruments are measured at amortised cost using the effective interest method,
less any impairment losses, if applicable.

li) Derivative financial instruments. .

The Bank holds derivative financial instruments to hedge its foreign currency
exposure and to facilitate transactions on behalf of clients and other group
entities. Derivatives in a net receivable position are shown aé financial assets
and include total return swaps. Derivatives in a net payable position are.

_ Shown as financial liabilities and include the equity linked note and foreign
exchange contract.

Derivatives are recognized initially at fair value; attributable transaction costs
are recognized in profit cr loss when incurred. Subsequent to initial
recognition, derivatives are measured at fair value, and changes therein are
recognized immediately.

iii) Fair value measurement principles

The fair values of derivative financial instruments. which are not listed on a
recognized stock exchange, are determined by management and are based on
Proprietary models utilizing well recognized financial. principles and
reasonable estimates about relevant future market conditions and may reflect
certain other financial factors such as anticipated. profit ‘or hedging,
transactional and other costs. oa

iv) Impairment

Financial assets that are stated at cost-or amortized ¢ost are reviewed al each
non-consolidated balance sheet date to determine whether there is objective
evidence of impairment. If any such indication exists, an impairment loss is
recognized in the non-consolidated statement of income as the difference
between the asset's carrying amount and the present value of the estimated
future cash flows discounted at the financial asset's original effective interest
rate,

If in a subsequent period the amount of an impairment loss recognized on a
financial asset carried at amortized cost decreases and the decrease can be
linked objectively to an event occurring after the write-down, the write-down —
is reversed. *

v) ~ Derecognition

The Bank derecognizes a financial asset when the contractual rights to the
cash flows from the financial asset expire, are realized or are surrendered.

A financial liability is derecognized when the obligation specified in the
contract is discharged, cancelled or expired. :

(h) Advances to and investments in subsidiaries

Investments in subsidiaries are recorded at cost, less impairment losses. Any funding

required by a subsidiary is treated as a normal advance to the subsidiar’, Advances to .

subsidiary are stated at the principal amount less provision for loan losses.

(i) Foreign currency translation

Transactions in foreign currencies are translated at exchange rates prevailing at the dates
of the transactions. Monetary assets and liabilities denominated in foreign currencies at

* the reporting date are translated to United States dollars at the exchange rates ruling at
that date. The foreign currency gain or loss on monetary items is the difference between
amortised cost in the functional currency at the beginning of the period, adjusted for
effective interest and payments during the period, and the amortized cost in foreign
Currency translated at the exchange rate at the end of the period. Non-monetary assets
and liabilities denominated in foreign currencies that are measured at, fair value are
translated to the reporting currency at the exchange rates ruling at the dates that the
values were determined.

Gj) Cash and cash equivalents

Cash and cash equivalents include cash and short-term deposits with original maturities of

less than three months, which are subject to insignificant risk of changes in their fair value, :

and are used by the Bank in the management of its short-term commitments.

Cash and cash equivalents are carried at amortised cost in the non-consolidated balance
sheet.

aay

Sao / RE

sa

The Bank of Nova Scotia International Limited (“the Bank") is incorporated under the Cy Share eae
Companies Act, 1992 of The Commonwealth of The Bahamas and is licensed under the Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of :
Banks and Trust Companies Regulation Act, 2000. The Bank is a wholly-owned subsidiary ordinary shares are recognized as a deduction of equity. :
of The Bank of Nova Scotia (‘‘the Parent Bank”), a company incorporated in Canada. The (1) Related parties raat

ba

registered office of the Bank is located at Scotia House 404 East Ba
h is : s y Street, Nassau, The
Baharhas: ‘The’ Bank ie primarily a holding company, ' A_ number of transactions are entered into with related: parties in the normal course of

business. Balances resulting from such transactions are described as balances with affiliates, °

2. Basis of Preparation and significant accounting policies : subsidiaries or Parent Bank. .
The following is a summary of the significant accounting policies i . i
ane eee B Policics adopted by the Bank in ' 3. Cash and cash equivalents
(a) Statement of compliance !

ie non-consolidated balance sheet has been Prepared in accordance with International :

inancial Reporting Standards (“IFRS”), The accounting policies have been applied — en ‘

Consistently to ail periods presented in this non-consolidated balance sheet. | —————2007___2006 .
) | |
(b) Basts of measurement i a aa

The non-consolidated balance sheet has. been prepared under the historical cost : pee:

convention as modified by the revaluation of certain financial assets and fi i : ! Fg, emepeate witcalliated bank

liabilities and derivative contracts to fair value. oes o a - oe aes
. Sone Si Deposits with original maturity dates greater than

; : a4 3 months’ ; (
The non-consolidated balance sheet has not been consolidated with those of the Bank’ By aon Sn TT 815,951 5331
subsidiaries a lid i i : — 2
sas consoli ated financial statements will be prepared by the Parent Bank. oe

The consolidated financial statements of the Parent Bank are located at the registered
office of the Parent Bank located at Toronto, Ontario Canada. | |
vai baie deriv A . ae ; ; ) 7

v



THE TRIBUNE | - FRIDAY, NOVEMBER 7, 2008, PAGE 7B |









1. Share capital |
5 sto and investments in subsidiaries : f
4 Advances to = ae Rae aT te
Advances to subsidiary at October 31, 2007 (2006) represents an unsecured, interest-free and . eae ee ($0008) ($000)
demand loan to BNS International (Barbados) Limited. (Unaudited)
; : : eee tee Authorized: j
The Bank holds investments in the following subsidiaries: Ordinary shaves of USL ew a S00 3.500) :
- ’ Issued and fully paid
Country of Percentage Holdings 2007 2000 Ordinary shares of US$1 each 2,792 2,792 i
Name Incorporation 2007 2000 ($0008) ($" 000s) Te ,
(Unuudited) :
BNS Bermuda Limited Bermuda 100% 100% 09 62 cs
BNS International (Barbados) Limited Barbados 100% 100% 25,005 25,005 12. Pensions
BNS Intemational (Panama) S.A. The Republic a ete ek see pac : ce Bo aig ee
of Panama 100% 100% 404,131 293,608 . The primary pension plan is of fered by the Parent Bank. This plan is a defined benefit plan and j
BNS Pacific Limited Mauritius 100% 100% 1,057 1,057 participation by employees is non-contributory. The contributions to the plan are made by the . :
Scotiabank (Buhamas) Limited The Bahamas 100% = 100% 66,432 66,432 Parent Bank on an ongoing basis to keep the plan fully funded. The assets of the plan are held
Scotiabank Caribbean Treusury Limited | The Bahamas «100% 100% 25,000 25,00) = . on : 7 ra de, d ee
separate trustee ¢ stere f : pens E u ments from
Scotiabank (Belize) Lid, Belize ; 100% 100% 6,000 6,000 in separate trustee administered funds and the pension plan is funde by paym i
Scotiabank (British Virgin Islands) Limited British Virgin ‘ corporate headquarters taking account of recommendations of independently qualified .
Islands 100% 100% 16,000 16,000 ' actuaries, The most recent actuarial valuation of the plan was at | November 2006 and based 4
Scotiabank (Hong Kong) Limited Hong Kong, a Ra : on that independent valuation, the plan was fully funded. All actuarial information relating to
Scotiabank (Ireland) Limited The Republic of eres . din the fi Bs - of the Parent Bank
ireland 100% 100% 980,000 883,107 : this scheme can be found in the financial statements of the Parent Bank. .
Scotiabank (Turks and Caicos) Lid. The Turks & . ‘ was
Caicos Islands 100% 100% 6,130 6,130
Scotia Corredores de Seguros S. A. Dominican Republic 100% 100% 13 10 H
Scotia Insurance (Barbados) Limited Barbados 100% 100% 20,032 20,032 ' : “13. Global employee share ownership plan ; 4
Scotia Insurance de Puerto Rico The United States : ° : i ; ip Pl 6g
of America 100% 100% 5 5 Certain subsidiaries of the Bank participate in the Global Employces Share Ownership an .
Scotia Realty Cayman Limited The Cayman Islands 100% /,- "100% 9,650 9.650 (GESOP) of the Parent Bank, which allows employees to contribute a percentage of their
Scotia South America Limited The Bahamas 100% 100% 6,002 6,002 : ° ; ah : sa gee ote ;
annual sali e GES : fa ase shares in the Parent Bank,
The Bank of Nova Scotia Asia Limited The Republic of annual salary to the GESOI . The contributions are used to purchi i cet feed f
Singapore 100%, 100% 641,225 641,056 on the Toronto Stock Exchange at prevailing market prices. The employer matches a si f
The Bank of Nova Scotia Trust Company percentage of the employees’ contributions and these vests with the employees after a stated
(Bahamas) Limited The Bahamas 100% 100% 90,095 90,095 sriod of 7 ticipation in the GESOP.
Scotia Peru Holdings S.A * Peru 100% 100% 4,728 4,417 pertod oF paruierps oy

2,504,256 2,296,350

14, Related party transactions
The Bank is a member of a group of affiliated banks and other companies and. has extensive
Ininsactions and relationships with members of the group. Related panies comprise the Parent
Bank and other entitics in which the Parent Bank is considered to have control or exercise
significant influence over the entitics’ financial or operational decisions. Most of the
transactions of the Bank are with related parties.

During the year the Bank increased its investments in BNS International Panama S.A.
by $110,523,667. During the year ended October 31, 2006 the Bank increased its
investments in BNS Intemational (Panama) S.A. by $293,597,567, Scotia Caribbean
Treasury Limited by $25,000,000 and Scotia Peru Holdings S.A. by $4,416,878.

On.May 16, 2002, the Bank made a capital contribution of EurS53.8 million (US$500 million)
to its subsidiary Scotiabank (Ireland) Limited (‘‘SIL"), as part of a Group transaction to provide
funding for a period until 2007, and is essentially an advance to the subsidiary. During the year
the Bank received Eur553.8 million (US$703,106,829) from SIL as repayment. of the
contribution. Subsequent to the repayment of the contribution, the Bank increased its

investment in SIL by $800,000,000. ,
eS

Included in the non-consolidated balance shect are the following related party balances.





Pursuant to a purchase and sale agreement dated May 17, 2007, the Bank acquired the 2007 2006
beneficial ownership of the shares of Corporacion Mercaban de Costa Rica S.A. from an ($"000s) ($°000s)
affiliate for consideration of $75,000,000. The Bank then exchanged the shares of (Unaudited)
Coproraction Mercaban into BNS International Panama S.A for additional shares in Panama.
Cash at affiliated banks 3,338 1,309
Deposits with affiliate banks 916,772 917,222
Advances to subsidiary 1,705,143 2,059,993
‘ Other receivables 51,989 44,497
Investment in subsidiaries 2,504,256 2,296,350
. : , Duc to affiliated bank : 1,991 2,123
3 villethl Fetura ewebsiane expiity nied te : 7. Accrued expenses and other payables 7,659 © 11,192
On 30 November 2001, the Bank issued a non-interest bearing equity linked note (“ELN”) with Notes payable : . : 75,000 293,500
an initial value of $498.099 million to St. Lawrence Trading Inc.,.maturing on 30 November Foreign exchange contract - 203,107
2016. The Bank is authorized to issue an aggregate additional amount of up to $252 million. ‘Redeemable preference shares held by Parent Bank 59,260 59,260
The value of the ELN is equal to the aggregate equivalent value of the equity interests in a ,
basket of funds managed by Global Asset Management Limited. At October 31, 2007, the
outstanding. ELN was $577.572 million (2006: $578.022 million) and had a fair value of
$882,512 million (2006: $803.287 million). .
The ‘Bank entered into total return swaps with Scotiabank (Ireland) Limited to hedge its 15. Commitments and contingencies 4
exposure against unfavorable marke movements of the basket of funds. The fair value of In the normal course-of business, various indirect credit commitn.ents are outstanding which d
swaps at October 31, 2007 was $304.940 million (2006: $225.265 million). : | are not reflected in the non-consolidated balance sheet. These include: ‘ ;
The Bank’s obligations under the ELN are fully guaranteed by the Parent Bank. The Bank : (a) Guarantees and standby letters of credit which represent an iirevocable obligation to pay a :
pays a guarantee fee of 10 basis points on the net asset value (NAV) of ‘the basket of - * third party when a customer does not meet its contractual financial or performance

investment securities to the Parent Bank. The fee is accrued monthly and is paid quarterly. . obligations.

Under the ELN agreement, the Bank earns a service fee of 0.5% of the amount by which the . : — . : . . :
reference assets NAV exceeds the Purchaser Put Share Value, as defined in the ELN These financial instruments are subject to normal credit standards, financial controls,
agreement. The fee is accrued monthly and paid at cach anniversary of the issue date and on and, monitoring procedures. The table below provides a detailed breakdown of the

, Bank's’ off-balance sheet credit commitments expressed in terms of the contractual _ :
the maturity date. rant se amounts of the related commitment or contract: : ; Fi













a: te Cee) . i eS Paar ae A . A EB . hi
; ! =a 2007 tssf 220068 bainbilozdns-nait )
3 ($°000s) ($°000s) ; :
2007 2006 (Unaudited) .
, 2 :
($'000s) ($'000s) Guarantees and irrevocable Icttcrs of credit - subsidiar 25,000 25,000 E
(Unaudited) B
Accounts receivable — subsidiaries $ 50,679 38,066 (b) Management has assessed all pending Iegal matters affecting the Bank and is of the :
poate cee = eure is 1,310 6,431 es opinion that no additional provisions are necessary. At October 31, 2007 there was one :
ccounts receivable — St. Lawrence Trading 3,477 3,428 sea outstanding matter which was settled subsequent to the year end (see Note 7). :
Other 52 108 :
F
$ 55,518 48,033 16, Financial risk management
' The Bank engages in transactions that exposc it to various types of risk in the normal course of
Included in accounts receivable - subsidiary at October 31, 2007 is a dividend receivable from business. These risks include credit, market, currency, interest rate, liquidity and fiduciary risk. j
a subsidiary in the amount of $44 million. The dividend was received on December 6, 2007. : The Bank's financial performance’ is dependent on its ability to understand and effectively :
7. Accrued expenses and other payables ‘ manage these risks. : :
Included in accrued expenses and other payables at October 31, 2007 was an amount of $38.9 (a) Credit risk
million (2006: $5.0 million) representing a reserve for loss as required as part of an indemnity fe fi ete a . : ’
provided under a sale and purchase agreement for one of the Bank's subsidiaries: Subsequent to ae ee . oe aie ee ae eee
ihe’year end the: pavment undes his aereeriéint waa Hinde. : instrument will fail to discharge an obligation and cause the other party to incur a . ; P
a financial loss. - As. substantially all of the Bank's assets and liabilities are with group ;
- Notes Payable : : / companies, the risk uf financial loss is considered low.
On May 17, 2007, the Bank signed a promissory note payable with-a principal value of $75 : : (b) Market risk
million payable to an affiliated company. The note is interest-free, unsecuréd and repayable on ; ; : ee
demand. On August.31, 2006, the Bank signed a promissory note payable to the Parent Bank Me See ee nero stere i" pee tee ome eee ;
with a principal of $293.5 million. The note was. interest-free, unsecured and repayable on ils nen : oe Ber apes Watney Move ent Manace cient Cociamnly
demand. The note was repaid on November 30, 2006. monitors market risk by utilizing real-time market information systems, i
: : (c) Currency risk
The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency
exchange rates on its financial position and cash flows. The majority the Bank's assets and
9 Pincig cashless wicteaes . oes are denominated in US$, and due to foreign currency hedges, in place the Bank
: is not exposed to-significant currency risk. :
On May 16, 2002 the Bank entered into a forward exchange contract for Eur553.8 million (d) Interest rate risk
(US$500 million) to hedge its foreign currency exposure for the advance to Scotiabank 4 j : i
(Ireland) Limited (see Note 4). This contract is revalued to its market value at each non- a gee ee ee a a ear eee ee eine am
consolidated balance sheet-date. At October 31, 2006, the fair value of the foreign exchange oe eee ee
contract was a loss of $203.1 million. ; and carnings.. The Bank monitors its interest rate GAP on a quarterly basis, as the gap is.of :
— : : : ; : a short-term nature, the Bank’s interest rate risk is low. 1
funding relationship and the foreign exchange contract were unwound during 2007. ,
¢
a a (e) Liquidity risk
10. Redeemable preferred shares held by Parent Bank :
Liquidity risk arises from fluctuations in cash flows. The Bank's approach to managing
2007 2006 liquidity risk is to ensure, as far as possible, that it is able to, honour all of its financial
- ($°000s) ($'000s) : commitments as they fall duc. The Bank manages liquidity using policies that include:
; : (Unaudited)
ridlesied ; eh ; : ° _ Measuring and forecasting cash commitments
74% non-cumulative participating redeemable . . ensuring immediate availability of large pools of liquid assets to meet
Padi piaetiihes shares of US$1 each 10,000 _ 10,000 unforeseen events :
non-cumulative participating redeemable iversifyi ing sources
Series B preferred shares of US$1 each 500 500 " . diversifying funding sources
64% non-cumulative participating redeemable e receiving significant Bank and affiliate deposits that give the Bank
Scries C preferred shares of US$1 each 51 51 access to considerable funding.
a 10,551 10,551
Issued and fully paid: |
74% non-cumulative participating redeemable F :
Series A preferred shares of US$] each : ' 10,000 10,000 :
10% non-cumulative participating redeemable (f) Fair value of financial instruments
Series B. preferred shares of US$1 each i ial i
64% non-cumulative participating aie mable a wae / Fair value represents the amounts at which a financial instrument could be exchanged in an .
Scries C preferred shares of US$1 each _ _ arms length transaction between willing parties and is best evidenced by quoted market
; 10,493 10,493 prices if one exists.
Prciniui of ane obteeenable clerel ehacs . saa aisey ‘ Management estimates that the fair value of cash at affiliated banks, deposits with
—eoaeaesresemae pre - 30550 : 50060 : affiliate banks, advances (o subsidiary, other receivables and accrued expenses & other —
ee oS ae payables does not differ materially from their carrying value, given that the average
: ole e effective interest rates approximate the current interest rates available to the Bank for
The redeemable prefc i ; i :
ner pre erred shares rank in priority to the ordinary shares of the Bank in the event similar facilities with similar maturities or due to their short-term nature.
of a dividend distribution. Each series of preferred shares ranks equally in all respects except
for the dividend rate accrued thereon. The fair value of investments in subsidiaries and redeemable preference shares held by

i Parent Bank cannot be determined,
The preferred shares are redeemable in whole or in part by the shareholder by notice in writing nay eee
sixty (60) days prior to the redemption date. Total return swaps, foreign exchange contract and equity link note are carried at fair
In the event of liquidation, dissolution’ or winding up of the Bank, the holders of the maine Roce aire ep aele te)

redeemable preferred shares shall be entitled to receive the amount paid up thereon together

. all dividends declared and unpaid to the date of distribution before any amounts shall be 17. Subsequent event
paid or any assets or property of the Bank distributed to the holders of the ordinary shares, The , :
. ROMene Wee ene us Is sac rinke ‘Under the terms of a demand Promissory note dated June 18, 2008 an affiliate of the Bank

borrowed $25,500,000. :

.

distribution of the property or assets of the Bank.

1S Ane _ creer : ; ae ' UALR ANA aye na

ey

heb espe ave



PrAUE 8b, FHIDAY, NOVEMBER 7, 2008

THE TRIBUWe



Realtors chief obtains
top global designation

Legal Notice
NOTICE
SEVERN HOLDINGS LIMITED
(Company Number 23,360B)

An International Business Company

(In Voluntary Liquidation)

| Pursuant to Section (137 (4) of the International
Business Companies Act, 2000 notice is hereby given

that the voluntary winding-up and dissolution of the
Company Commenced on the 4th day of November, 2008
| and that Pensford Nominees Limited of 10 Deveaux Street,
P.O. Box N-4877 has been appointed Liquidator.

Dated this 5th day of November, A.D. 2008

Pensford Nominees Limited
Liquidator



Legal Notice
NOTICE ;
INDO GULF BIOTECHNOLOGIES LIMITED
(Company Number 33,3609B)

An International Business Company
(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International

Business Companies Act, 2000 notice is hereby given

that the voluntary winding-up and dissolution of the

Company Commenced on the 4th day of November, 2008

and that Pensford Nominees Limited of 10. Deveaux Street,
_P.O. Box N-4877 has been appointed Liquidator.

Dated this 5th day of November, A.D. 2008

Pensford Nominees Limited
Liquidator
&

‘Legal Notice
NOTICE
MAGI LIMITED
(Company Number 33,435B)

An International Business Company

(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International

Business Companies Act, 2000 notice is hereby given
that the voluntary .winding-up and dissolution of the

Company Commenced on the 4th day of November, 2008
and that Pensford Nominees Limited of 10 Deveaux Street,

P.O. Box N-4877 has been appointed Liquidator. -
| Dated this 5th day of November, AD. 2008

Pensford Nominees Limited
Liquidator

errr BAHAMAS comer

Sw RAP otf.

Cafluch ni ep ett

Maintenance Operations Supervisor

Bahamas Supermarkets Limited operates a leading
supermarket chain in The Bahamas. As a market leader,
the Company prides itself on delivering premier service
through its City Market supermarkets, having a strong
commitment to its customers, associates and community.

An opportunity for a Maintenance Operations Supervisor
in New Providence to join this market leader has arisen.

Reporting to Retail Operations, the successful applicant
will have previous experience in managing, scheduling

~~. f.and directing a maintenance program for retail or similar

operations.
Key responsibilities and selection criteria include:

¢Working knowledge of HVAC, electrical, plumbing,

and refrigeration systems
. ‘Highly flexible and mobile and prepared to work

evenings and weekends

*Motivate, train and insure that-associates and outside
Contractors in each district are providing quailty
maintenance services

*Manage preventative maintenance programs

*Completed High School with a minimum of 3 BGCSE
including mathematics

«Work independently, making quick decisions while
working under pressure.

*Have good communication (verbal and written) and
interpersonal skills

*Solid functional computer skills with working
knowledge of Microsoft applications

If you have what it takes to succeed in this challenging
role, forward your resume and cover letter to:

Human Resources Director
Bahamas Supermarkets Limited
East-West Highway ¢ P. O. Box N 3738 + Nassau, Bahamas
Or e-mail to: humanresources@bahamassupermarkets.com
Only qualified applicants will be contated.
No telephone inquiries please



William Wong

As a privately-owned, mid-sized Bahamian Company
and the authorized Caterpillar dealer in the Bahamas,
we are seeking a candidate to work as a

Marketing / Sales Manager

The Candidate should have the following requirements:

Have 10-15 years experience with the Caterpillar
‘Product Line, have worked in a Caterpillar
dealership or a similar Organization;

Have Caterpillar training in power generation;

The candidate should be a certified iSO 9000
auditor;

Must have a Degree in Engineering/Marketing
from an accredited university;

Must be able to manager and motivate staff in the
Sales Department;

Must be able to liaison with potential buyers, grow

market share and increase sales;
Know how to execute business, sales and
marketing plans, and close a sales deal;

This candidate is required to be a professional who
. thrives on the challenge of developing outstanding
customer relations and service excellence.

Send complete resume with education and
work experience to

M&ELimited, — -

P.O. Box N-3238, Nassau Bahamas,
Attention: Office Administrator, or erriais

me@me-ltd. com.

Only persons being interviewed for this
position will be contacted.



Tourist related firm is looking for a skilled

Reservation/Product assistant to
work full time.

Applicant should have the following qualifications:

* Basic knowledge of the Travel Industry

‘© Must be able to work under pressure and with
deadlines oo

* Computer Knowledge (Word, Excel, E-mail) _
Quick mind

¢ Proper use of the English language, Spoken ane
written

¢ Must be willing to work weekends and/or after
hours.

* Applicant must be professional, aiigent and exact
when dealing with clients.

° Team spirit

Duties will include:

¢ Making Proposals/Reservations

¢ Planning itineraries
« Customers Service

¢ Knowledge of European Culture and language a
plus, but not required

Salary according to skills

Please fax your resume along with a
Reference letter of previous employer
to 326-5734



The Bahamas Real Estate
Association’s (BREA) presi-
dent, William Wong, has been

awarded the Certified Inter-

national Property Specialist
(CIPS) designation.

He will now join a world-
wide referral network of elite
global real estate practition-
ers with expertise in working
with international clients.

The CIPS Designation is
awarded by the National
Association of Realtors
(NAR), which represents over
1.2 million realtors in the US.
Mr Wong will be formally
recognised at the NAR’s
Annual Convention in Orlan-
do, Florida, on November 8,
2008.

The CIPS designation
recognises realtors who have
achieved the necessary train-
ing and experience to work

successfully with international.

clients and properties. To

7 earn the CIPS designation,



“William Wong is
now established as
an expert in inter-
national real estate”

[APE RD ARSE ATT O IIE CRE ae mE |
realtors complete rigorous
coursework devoted to learn-
ing cultural differences and
international business prac-
tices.

Designees must also prove |
achievement in international
real estate transactions. Mr
Wong joins a distinguished
society of over 1,500 real
estate professionals through-
out the world who have
earned the CIPS designation.
' “This is a highly prestigious
award in our industry,” said
Tony Macaluso, CIPS, NAR
international operations com-
mittee chair. “William Wong
is now established as an expert
in international real estate.”





NOTICE

NOTICE is hereby given that MANUEL REYES DE LA PAZ-
of #44 POINCIANA AVENUE, COCONUT GROVE, P.O.
BOX N-423, NASSAU, BAHAMAS is applying to the Minister
responsible for Nationality and Citizenship, for registration/ .
naturalization as acitizen of The Bahamas, andthat 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 7TH day of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ANGELA JULES of KEMP

| ROAD 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 31ST day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED-POLL

The Public is hereby advised that |, ANTOINETTE LOUISE
GLINTON of Woodland Rd., PO. Box N-9214, Nassau,
Bahamas, intend to change my name to MARIE ANTOINETTE
GLINTON. If there are any objections to this change of name by
_Deed.Poll, you may write such objections to the Chief Passport
Officer, RO.Box N-742, Nassau, Bahamas no later than thirty
(80) days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that WENEL WESLEY of
NASSAU, BAHAMAS is applying to the Minister responsible
-for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
Knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 7TH day of
.NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that EMMANUEL ALCIME of
LEWIS AND MAYCOCK 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 7TH day: of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P-O.Box N- 7147, Nassau, Bahamas.





SHOCKED BY YOUR SLECTRIG BILL
Check out the proven and tested Power-Save product!

Guaranteed to save up to
25% per
month on your electrical
consumption.

For details visit our website at:
www.Powersavebahamas.com or

phone: 393-8814

or email us at powersave@coralwave.com



(POWER SAVE BAHAMAS



B

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2008, PAG

7

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FRID/

THE TRIBUNE

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NIGEL LEWIS & HD



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PAGE|10B FRIDAY, NOVEMBER 7, 2008







WAS DUGGAN'S Vf
SUICIDE NOTE
HANDWRITTENZ

APT 3-G

DON’T WORRY X YOUR CAB FOR
ABOUT ME, RUBY,
J/LL BE FINE.

M-4



GOO!
QUESTION,
COUNSELOR!





THE AIRPORT 1S
HERE, LU ANN.

UM KNOCKING OFF EARLY SO!

CAN GO VOTE, BOSS

THANKS, TOMMIE.
AND THANK YOu
ALL. I/LL NEVER
FORGET YOUR

COURAGE AND
KINDNESS.



---AND HE

TO KILLING
CHEATHAM!





AWD



©2008 by North America Syndicate, Inc. World rights reserved.

BUT IT'S
ONLY 10:30
IN THE
MORNING!!

CAN I HELP
IT IF IMA

CONVENIENTLY
CONFESSED -







CALVIN & HOBBES

WNOWSHISINNSC mom

AN

Te
(vl
te

O) aos (7

k/

DENNIS THE MENACE

r ~
ee



elt
Cre

i
SS 1(.

\ eae | jo

A FReRe ARATE,

g Noem America Synd

©z00

THE TRIBUNE



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





“Lay

U-¢





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



DECISIONS, DECISIONS!”

Difficulty Level * *&

\T'S

IMPOSSIBLE TO
KEEP MARVIN. IN fe.
HIS BED AT NIGHT.

é
i
i
i
i







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

GETTING

Ll GROW



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

RYPTIC PUZZLE

Across .
1 Aspired to become a.
literary giant (7)
4 Two short ways to

break in (5) 3
7. He floated a company to 4
avoid liquidation (4)
8 The offer of money may - 5
make them cross (8)
10 Stayed well away from 6
work (10)
12 Unfinished plans of row- 9
dies (6)
13 The inane goddess? (6) 11
15 Chimney cleaners take a
gamble (10) ‘ 12
18. Near the avenue (8)
19 Plant where workers strike
for more money (4) 14
20 Shoot for almost the whole
season (5) 16
21 Is angry about the
shrub (7) 17

Yesterday’s Cryptic Solution

' Actoss: 1 Get-together, 9 Portico, 10

Khaki, 11 Yarn, 12 Umbrella, 14 No
more, 16 Hold it, 18 Gardener, 19
Spur, 22 Malta, 23 Antwerp, 24 Ata
discount.

Down: 2 Error, 3 Tail, 4 Grooms, 5
Take root, 6 Enabled, 7 A paying
game, 8 Misanthrope, 13 Freehand,
15 Martlet, 17 Relays, 20 Preen, 21
Otto.

HE CLIMBS RIGHT



OUT OF HIS CRIB

WELL, PID |

Down
1 Material that’s dug up (5)
2 Becomes confused about



laps, runs wrongly (6,2)
Staggered, but.got in line (6)
The shooting of an
unknown person? (6,4)
The purposes of first-class
writing (4)

Give a subject .a title,
perhaps (7)

He won’t ring when upset
and at fault (2,3,5)

Uncle perhaps? That
would be telling! (8)
Make haste with methods
for smooth procedure at
airports (7)

Fights to protect one’s
property (6) _

There’s an added charge
for a special edition (5)

A boom in shipping,
perhaps (4)

EASY PUZZLE

Yesterday’s Easy Solution

Across: 1 Hero-worship, 9 Hygiene, ©
10 Mason, 11 Dare, 12 Alsatian, 14
Inmate, 16 Threat, 18 Land mine, 19
Cash, 22 Naive, 23 Overall, 24
Under arrest.

Down: 2 Eager, 3 Open, 4 Overly, 5
Sympathy, 6 Inspire, 7 Rhode

Island, 8 In a nutshell, 13

Stampede, 15 Mansion, 17 Angola,
20 Amass, 21 Bear.



I KNOW. HE'S
BECOME A FREE-
RANGE BABY





FROM THE
TOP OR THE









Across

10

12
13
15

18
19
20
21

Die (7)

Unsettling blow (5)
Stratagem (4)
Large and
luxurious (8)
Whatever the price
(2,3,5) .

Shackle for feet (6)
Lively (6)

That sounds
reasonable! (4,6)
Court of justice (8)
Two of a kind (4)
To sponge (5)
Pagan (7)







ih s puzzle, zt defeating
aupuietainces ;
Bhatchtey code-breaker,

Pdemee Me PD ToT tia

Down

1

3 Publish widely (6)
4 ‘Superficial
’ knowledge (10)

11
12
14
16

17









‘Chess: 8735: 3 dt ud? 2 BFS (reat 2 RAB

Cannot
Soar

~ Material, bishop and two pawns”
for took, but his next precise tum:

forced a winning endgame and
induced his opponent, who won

















Middle East
republic (5)

Person injured (8)



Fail to do (4)
Spoilsport (7)
A Strauss waltz (4,6)





Leave by will (8)
Distraught (7)




Deliver a sermon (6)




Long-legged wading
bird (5)
Untamed (4)







{
mate] Xg8 3 Bxd7 Re? 4 Bxc6 duc6 5 Rat and Black
because of § Rose
endgame,





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

























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









East dealer.
Both sides vulnerable.

- NORTH
@AS
Â¥842
@AQ1095
643 ’

WEST EAST
®Q9642 #3873
¥K 10 ¥Q7653
64 KI
BI975 $102

SOUTH

@K 10

VAIO

8732

SAK QB
The bidding:
East South West North
Pass 1 NT Pass 3NT.

Opening lead — four of spades.

Declarer’s primary task in most
deals is to try to make the contract
and not to concern himself with over-
tricks. While overtricks have some
value in the scoring, they are of
minor importance when a game or a
slam is at stake.

This basic principle gave birth
many years ago to a vast family of
plays known as safety plays. They
enable declarer to better perform his
No. | function of trying to score, in
as safe a manner as possible, the
number of tricks his side has con-
tracted to make.

One characteristic feature of
many safety plays is. the willingness
to lose a trick unnecessarily in order
to increase the overall chance of ful-
filling the contract. Today’s hand





3/5 /9 fig 8 19/6
1/2 /4 Big 3 |.2) 1
1|9/\2
9/5 fag 4/1 /3/2
21113 |8 Be 7 | 1
816 |9 fig 7 (819
718 619





1103







HOW many words of four letters
or more can you make from the
letters shown here? In making a
. word, each letter may be used
once only. Each must contain
the centre letter and there must
be af least one nine-letter word,
No plurals,

“TODAY'S TARGET

Good 24: very good 36; excellent
47 {or more), Solution
tomorrow,

SATURDAY'S SOLUTION :

alto bald blab blah bioat blob

blood BLOODBATH blot bold

bolt dahl dhal dolt halo halt

hold. holt lath load loath lobo

loot loth told tool J

provides an example of this type.

Declarer’s best chance of making
three notrump lies in developing the
diamonds: without losing two tricks
in the suit. If he loses two diamond
tricks before the suit becomes eétab-
lished, he will also lose at least three
spades and so go down.

The safest way of broaching -the
diamonds is to win the opening
spade lead with the king and play a
diamond to the ace! As it happens,
East’s jack falls, and making the con-
tract then becomes routine.

However, let's suppose — that
instead of playing a diamond to the
ace, South leads a diamond to the
queen at trick two. East wins and
returns a spade to the. ace. Declarer
then crosses to his hand with a club
and leads another diamond.

West follows low, and South. is
now faced with a very difficult
guess. He must decide whether East
was originally dealt the K-J double-
ton of diamonds or the singleton
king. He may, of course, guess cor-
rectly, but as often as not he will mis-
guess.

However, the guess is one that
declarer has carelessly created for
himself. The ace play on the first
round of diamonds spares him the
need to guess and guarantees the
contract unless East has K-J-x or K-
J-x-x in the suit. The queen play car-
ries no such guarantee. True, it may
gain a ‘trick 30 points — from
time to time, but it will lose the con-
tract often enough to rendér any such
overtrick inconsequential.



Tomorrow: The hardest bid of all.
©2008 King Features Syndicate Inc.





THE TRIBUNE BUSINESS



FRIDAY EVENING NOVEMBER 7, 2008

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FRIDAY, NOVEMBER 7, 2008, PAGE 113





his sidekick Derek put Ay
some smiles on your

kids’s faces.





Bring your children to the
Mctappy Hour at McDonald's in
Oakes Field every Thursday |
from 3:30pm to 4:30pm during the
month of November 2008.



Enjoy Great Food, Prizes and Lots of Fun.

Pm levin'’ it

pe BGG oe o fe ar
iMovie Gift Certificate

make great gifts





. Wal-Mart Stores Inc.

PAGE 12B, FRIDAY, NOVEMBER 7, 2008



BUSINESS

THE TRIRUNE



US retailers report steep

sales declin

i By ANNE D'INNOCENZIO
AP Retail Writer '
NEW YORK

The nation's retailers saw

their sales plummet last month ~
to the weakest October level :

since at least 1969, as the finan-
cial crisis and mounting layoffs
left shoppers too scared to shop,
according to the Associated
Press:

The stunning and rare drop,
from an already. weak Septem-
ber, is further darkening the
outlook for the holiday season
and raising more concerns
about the financial health of the
industry, which is not expected
to see a recovery until at least
the second half of 2009.

A number of stores, including
J.C. Penney Co. and Nordstrom
Inc., cut their profit outlooks as

they slashed prices on every- -

thing from coats to holiday
ornaments ina desperate bid to
pull in shoppers. Analysts
expect a do-or-die holiday sea-
son for more retailers, which
have already seen competitors
like Mervyns LLC and Linens
'N Things forced to liquidate.
As merchants reported dis-
mal sales figures Thursday,
the





Ric Francis, file/AP Photo

; IN THIS OCT. 2, 2008 file photo, a shopper strolls pass the ten dollar toys

on display at a Wal-Mart Supercenter in Rosemead, Calif. Wal-Mart
Stores Inc., the world’s largest retailer, said Thursday, Nov. 6, 2008, its
low-price focus and sales of Halloween merchandise boosted. October
same-store sales by 2.4 percent, ahead of expectations.

. world's largest retailer, was
’ among the few bright spots as it

benefits from shoppers focus-
ing on basics. The discounter
plans to cut prices on thousands
of items over the next seven
weeks.

But most other stores, from

luxury merchants to teen retail-
ers, suffered steep sales declines
as consumers were spooked by
shrinking retirement funds and

volatile markets. The number

of people continuing to receive
jobless benefits reached its high-
est level in more than 25 years,



es in October

according to government fig-
ures released Thursday.

Even warehouse club opera-
tor Costco Wholesale Corp.,
which sells items like TVs along
with basics, posted disappoint-
ing results. "Wal-Mart's solid
performance is reflective of the
weakness in consumer spend-
ing," said Ken Perkins, presi-
dent of research company
RetailMetrics LLC. "As soon
as the financial crisis hit, con-
sumers spending dropped dra-
matically. ... Consumer spending
ground to a halt in October."

Michael P. Niemira, chief
economist at the International
Council of Shopping Centers,
described October's perfor-
mance as "awful."

"This reflects the severity of
the current financial crisis," he
said.

According to the ICSC-Gold-
man Sachs index, sales fell 0.9
percent, the weakest October
performance since at least 1969
when the index began. That

compares to a 1 percent gainin -

September and well below the
1.8 percent average pace so far
this fiscal year, which for retail-
ers begins in February.

- Excluding Wal-Mart, the

. October sales number was



down 4.6 nefenk The j index is
based on same-store sales, or
sales at stores opened at least a
year, which are considered a
key indicator of a retailer's
health.

Wal-Mart posted a 2.4 per-
cent gain in same-store sales,
better than the 1.6 gain project-
ed by analysts surveyed by
Thomson Reuters. Including
fuel sales, same-store sales rose
2.5 percent.

Target Corp. — which has —

lagged behind Wal-Mart
because of its heavier empha-
sis On nonessentials — posted
a 4.8 percent drop, worse than
the 2.8 percent decline that ana-
lysts had expected.

"We expect the recent chal-
lenging sales environment to
continue into the holiday sea-
son and beyond as a result of
the economic factors currently
affecting consumer spending,"
Target's President and Chief
Executive Gregg one said
in a statement.

- Costco, hurt by currency
effects, reported a 1 percent
decline in October, below the
3.6 percent gain Wall Street
projected.

Among department stores,
Penney reported a 13 percent

IN THIS JUNE 5,
2008 file photo,
Target shopping
wus) Carts shown at a
Â¥3| Target store in

j) Redwood City,
» | Calif.

Paul Sakuma,
file/
AP Photo

drop in same-store sales at its
department store business, bet-
ter than the 13.2 percent decline
predicted. Macy's Inc. report-
ed a 6.3 percent drop for Octo-
ber. No estimate from Thom-
son Reuters was available.

Luxury stores reported steep
declines as affluent shoppers cut
back on designer clothing.
Nordstrom's 15.7 percent drop
in same-store sales was worse
than the 13.1 percen’ lecline
expected. Saks Inc. recorded'a
16.6 percent drop, mc re than
the 11.8 percent decrease pre-
dicted.

Gap Inc.'s 16 percent drop
was worse than the 11.1 percent:
decline Wall Street h d fore-
cast. ..

The retailer reaffirmed its
profit outlook for the third
quarter, however, as it focused
on inventory control.

Limited Brands Inc. report-
ed a 9 percent drop in October,
a bigger decline than the 7.2
percent analysts were expect-
ing. Even teens stayed away
from malls. American Eagle
Outfitters Inc. reported a steep-
er-than-expected 12 percent
drop in same-store sales, while
Abercrombie & Fitch Co. had a
20 percent drop.

Productivity growth slows

in 3Q as economy shrinks

ion

Ron Edmonds/AP Photo



lm By JEANNINE AVERSA
AP Economics Writer
WASHINGTON

The efficiency of U.S. workers slowed sharply
in the summer as a huge pull back by American
consumers threw the national economy into
reverse, according to the Associated Press.

The Labor Department reported Thursday
that productivity — the amount an employee
produces for every hour on the job — grew at
an annual pace of 1.1 percent in the July-to-
September quarter, down from a 3.6 percent
growth rate in the second quarter.

With productivity growth slowing, labor costs
picked up. Unit labor costs — a measure of
how much companies pay workers for every
unit of output they produce— increased at a 3.6
percent pace in the third quarter, compared
with a 0.1 percent rate of decline in the prior
period.

Worker productivity:growth slowed as over-

all production, or output, declined, reflecting

the hit to consumers and the economy as a
whole from the housing, credit and financial
debacles.

In the latest sign of the ailing job market,
the number of people continuing to draw
unemployment benefits jumped by 122,000 to
3.84 million in late October, a separate report

from the department showed. It was the high-,
_ est level since late February 1983, when the

country was struggling to recover from a long
and painful recession. New filings for jobless
benefits last week dipped to 481,000, a still-
elevated level that suggests companies are in a
cost-cutting mode.

The 1.1 percent productivity growth logged in
the summer beat economists' expectations for
a 0.8 percent growth rate. The pick up in labor
costs— while welcome to workers — was faster

1 FRANKFURT, Germany

The European Central Bank has cut its
key rate by half a percentage point to 3.25
percent, joining the Bank of England, Swiss
and Czech central banks as they confront
the looming recession, according to the Asso-
ciated Press.

The ECB announced the cut of half a per-

centage point from 3.75 percent on Thursday »

shortly after the Bank of England lowered its





EDWARD ! AZEAR,
’Chairma.. of the
President’s Coun-
cil of Economic
Advisers, briefs
‘reporters, Thurs-
day, Oct. 30, 2008, -
in the White House
briefing room in
Washington, on the
Commerce Depart-
ment’s report that

product, or GDP, -
decreased at a 0.3
percent annual rate
in the July-Sep-
tember quarter.

than the 2.8 percent pace economists were i
forecasting. Economists often look at labor

‘compensation for clues about inflation. These

days, however, the Federal Reserve and ana--
lysts are more concerned about.the eco-omy's:
feeble state. Whilc the pick up in labu. costs
might raise some economists’ eyebro’ 's, the
Fed is predicting inflation pressures will lessen
as the economy loses traction.

The 1.1 percent productivity gain v was the
smallest since the final quarter of last year,
while the increase in labor costs was the iggest
since that time.

Hoping to prevent a deep recession, the Fed-

" eral Reserve last week ratcheted down interest

rates last week to 1 percent and left the door
open to further reductions.

The country's economic state has rapidly
deteriorated in the course of just a few months.
The economy contracted at a 0.3 percent pace
in the July-to-September quarter, signaling the
onset of a likely récession. It was the worst
showing since the the last recession, in 2001,
and reflected a massive pull back by consumers.

With the economy sinking and consumers
appetites flagging, employers have slashing
jobs. They are expected to cut around 200,000
jobs when the government releases the October
employment report on Friday. The unemploy-
ment rate — now at 6.1 percent — is expected
to climb to 6.3 percent in October.

As American consumers watch jobs disap-
pear and their wealth shrink, they'll probably
retrench even further.

That's why economists predict the economy.
is. still shrinking in the current October-to-
December quarter and will continue to contract
during the first quarter of next year. All that
more than fulfills a classic definition of « seces-
sion: two straight quarters of contracting eco-
nomic activity. ,

‘cut rates

key interest rate by a startling 1.5 percentage
points to 3 percent.

The Bank of England's cut was more than
than the full percentage point that most ana-
lysts had predicted.

The Swiss National Bank has cut its key
interest rate by half a percentage point to 2)
percent, only its second reduction since
March 2003. In Prague, the Czech: Republic's
central bank cut its interest rate by three-
quarter percentage point to 2.75 percent.

’

“gross domestic —



Full Text






CLOUDS, SUN,

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SA TODAY

BAHAMAS EDITION



port wset fee ¥
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Te) at

FRIDAY, NOVEMBER 7, 2008

BIGGEST!!!

me Le
ET eT CE

eer

eS gy a
eee ay

‘Court all

rape conviction

oa capture
- her assailant

A RAPE victim who helped

police trap and captureherrapist2"=

can rest a little easier knowing that
the Court of Appeal has upheld.
the conviction of her assailant.

The court, in a judgment deliv-
ered by Justice Emmanuel Osade-
bay, affirmed the conviction of
Gregory Dean Johnson, and dis-
missed his appeal. .

‘Johnson was convicted on June
26, 2006, of rape and armed rob-
bery and was sentenced to jail for
18 years imprisonment for armed
robbery and 7 years imprisonment
for‘rape to run concurrently.

Recounting the events leading
to the ay peal, the ruling said that
the victim and a friend went to a
night club on West Bay Street.

‘They remained there for about
45 minutes before leaving.

While getting into the victim’s
car they were approached by two
men who grabbed them at gun
point and pushed them into the’
back seat of the vehicle.

The men then drove off with
the victim and her friend, in the
car. Shortly after, the men put the
victim’s friend, in the back trunk.

After the victim and her friend
were dropped home and the mat- ©
ter was immediately reported to
the police who took the victim to

SEE page 10

































WHY ARE

COMPANIES SWITCHING TO

Se

Faster +’











PM to speak to nation
on economic problems

m@ By CHESTER ROBARDS |

will seek to offer Bahamians a
Tribune Staff Reporter 1

way forward: ‘ te
“When America’s economy. is



PRIME Minister Hubert Ingra-
ham will speak to the nation on
Monday night to address'eco-
nomic problems facing the
Bahamas, he told reporters yes-
terday.

He said he will set out the
backgrounds of the problems fac-
ing the Bahamas-and the US and

sO MANY

hurting the Bahamas will feel
great pain,” said Mr Ingraham.

“We are feeling the impact
here in the Bahamas in a very
substantial way.

“People are working one and
two days a week, many are not
working at all, some have been
laid. off, others will be laid off.

“Tourism is. in trouble now,
because the economy of America
is in trouble now and it’s not only
America’s economy that is in
trouble, the world’s economy has

| been affected and the Bahamas

will feel it strongly and it will cost
us dearly.”
. Some have criticized the fits
“Minister for not addressing the
economic crisis earlier, however,
the government has in the past
weeks unveiled plans to assist
Bahamians in this time of finan-
cial hardship.
Recently government increased
the amount of aide Social Ser-;
vices will distribute to those seek-
ing assistance and just last month
Mr Ingraham revealed an outline

to assist individuals in danger of
defaulting on their mortgages.

SEE page 10.

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be a a ta I

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Felipé Major/Tribune staff

PRIME MINISTER Hubert
Ingraham stands with Matteo
Alliata and his mother Mrs

- Karen Alliata at the unveiling.of
Coin of the Realm’s historical.
site plaque: Looking on are
Marsha and Michael Stewart
and Juliette Alliata

mi By CHESTER ©
ROBARDS ~
Tribune Staff

Reporter _—





























PRIME Minister Hubert
Ingraham yesterday
implored Bay Street busi-
ness owners to revitalize
their retail spaces as. he
spoke at the unveiling of a
plaque dedicating the Coin’:
of the Realm’s building as
an historical site.

Officials of the National

Register of Antiquities,
Monuments and Museums |.
discovered that the build-
ing, which is made of lime-
stone, was once ‘used as a
gunpowder magazine and
was constructed in the
1700s.
It is believed that it may
have stored ammunition
for old Fort Nassau which
once stood where the
British Colonial Hilton is
today. '

According to the store’s
general manager, Mrs

ih



A ae ua



PM plans to appoint |
senator to replace —
Anthony Musgrove |

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

PRIME Minister Hubert Ingra-
ham said he plans to appoint
another senator after consulting
opposition leader Perry Christie
‘ to replace the seat left vacant by
Anthony Musgrove following a
Supreme Court decision that
ruled the senator's ee gee eee
. was invalid.

Yesterday Attorney General
Michael Barnett told The Tribune
his office was in ane process of

NASSAU 7AM MON

drafting an fake to the fifiing,
however Mr Ingraham said his
new appointment will not hinge
on the outcome of that motion.
He added that after the ruling

he sent a letter to the treasure,
president of the senate, the sen-
-ate's clerk and the governor-gen-
eral informing them of the ruling.
Additionally, he instructed the
treasurer to discontinue the pay of
Senator Musgrove with effect
from November 4 — the

’ before the ruling.

SEE page 10 3

INSURANCE MANAGE EMENT |
(BAHAMAS) LIMITED
INSURANCE BROKERS & AGENTS|

a iio

eee

erat Utes

m@ By CHESTER ROBARDS
Tribune Staff Reporter

ine TIMES EST



‘TROPICAL Storm Paloma is not expected to affect New Prov-
idence hotels, which have been suffering low occupancy rates for

months; according to hotel executives.

Senior VP for external affairs-at Crystal,Palace, Robert Sands;
said yesterday that they have not seen any affects on reservations
as yet because of the impending storm.

“Based on the latest advisory, New Providence doesn’t seem to
be in its path, so we’re going to monitor it carefully,” he said.

‘lighted their key

’ Senior Justice Ani-

SEE page 10
- Marco City election | _ Missing teenage
court case now in :
the hands of jud es ‘ol returns home
e POLICE said yesterday that
@ By MEGAN | : : Gabriell Miller, a 13-year-old
REYNOLDS : student of LW Young, who
Tribune Staff .? went missing on Sunday night in
Reporter -? the Imperial Park area, has
a : been found. ‘
THE Marco i According to the girl’s arate
City election case : father, his granddaughter asked
has been left to the } ; him for permission to go across



judges after lead mavareo
attorneys for Laing

Zhivargo Laing
and Pleasant
Bridgewater high-

; the street and visit a neighbour,
:- “She said: “Daddy, I’m going
: across the street to the next
; door neighbour.
: “So I said OK. But when I
; got there, it was a whole other
'} story.
: _ “Had I known that, I would
; never have let her go, because I
: am very protective of my grand-
: daughter,” he said. .
: _ Now, the family is celebrating
: Gabriell’s return home.

arguments yester-
day.
Supreme Court



ta Allen and Jus-
tice Jon Isaacs
were asked to con-

Pleasant
Bridgewater

sider when making
their judgment the admissibility |

Pecan



~ of evidence regarding the cred- :

SEE page 10 SEE page 10

@ ETIENNE AIGNER

Clarks

Bern. BAND@LING : AK

—

|
|
|
Kids NUNN |
BUSH .

SAM@LIEBY Litgsiyide

NIN ne esr fasy Spirit
| NA Jumping-Jacks,

? “We are all happy that Gabriell

is back and we are all fine, and

; she is happy to be back home,”
; said Gabriell’s grandmother,
; Agnes Miller.



bd
ae

Madeira Shopping Plaza - 328-0703
Marathon Mall - 393-6113
RND Plaza, Freeport - 351-3274

All Major Credit Cards Accepted. Ne Debit Cards. fi
PAGE 2, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



LOCAL NEWS



Twenty- -seven packages of
cocaine are confiscated —

POLICE in Grand Bahama yes-
terday reported the confiscation of
over 27 packages of cocaine in the
area of Pinder’s Point.

Chief Superintendent Emrick
Seymour said that officers were dis-
patched to an area in Pinder’s Point
in response to a complaint.

On arrival, the officers had rea-
son to pursue a white Nissan Max-

ima, which was driven by anâ„¢

unidentified man, police said.
The driver eventually abandoned
the vehicle in the area of the
Church of the Good Shepherd and
ran into nearby bushes holding
what appeared to be a high-pow-
ered firearm in his hand. The offi-
‘cers on the scene were joined by
additional reinforcements who were
dispatched to assist in searching the
. bushes for the suspect.
On examining the abandoned
vehicle, police discovered a box in
the back seat containing 27 pack-

ages of suspected cocaine. An addi- .

tional two packages were found on
the ground near the vehicle.

All of the suspected drugs have
been retrieved and are in the pos-
session of the police, who are
searching for the suspect and con-
ducting an extensive investigation
into the matter.

@ THREE men.in Grand
Bahama were taken into police cus-
tody after a black Smith and Wes-
son 9mm pistol was discovered in a
vehicle around 3pm on Wednes-
day.

According to Chief Superiniten-
dent Emrick Seymour, police were
called to the Kennedy Circle area
of Freeport, where “illegal activi-





i -milovin’ it

ties” were reportedly ‘aitae :

place.

manner.

“As a result of the search the }
police recovered a black Smith and :
Wesson 9mm pistol and three live :
rounds of ammunition inside of the :
vehicle. As a result, the three occu- }
pants, all residents of Freeport, :
Grand Bahama, were arrested and :
have since being charged in con-.;
nection with this matter,” Mr Sey- :

mour said.

Additionally, at 4.28pm on:
Wednesday, police in the Eight :
Mile Rock district responded to a }
report of two. men walking along :
Batelco Corner, Jones Town, with i

guns in their possession.

Arriving at the scene, police saw
two men, one of whom was carrying :
a black bag. Upon seeing the offi- :
cers approaching, the two men start- }

ed to run.

The officers gave chase and }
caught one of the suspects a short :

‘ distance down the road. On check-
ing the bag in the suspect’s posses- }
sion, the officers discovered one }
black and silver P345 Roger 9mm :

pistol and a gray, black and silver, :
40 Ruger P-94 pistol along with one }
magazine with seven 0.40 live |
rounds of ammunition.

A Jones Town, Eight Mile Rock, :
resident was taken into custody in|
connection with this matter.

He is expected to be formally’
charged. The police are searching
for the suspect’s accomplice i in fis |
matter.

Insurance Agency

“At the scene the police had rea-
son to stop and search a black Hon- :
da Accord with three black males :
who were acting in a suspicious ;

Annual cri

me prevention

onference is launched

Reginald Fe

ayn



@ By LLOYD ALLEN
Tribune Staff Reporter



WITH many business owners unsure about
profits going into the holiday season, and with
the added threat of desperate criminals targeting
businesses hoping for a quick buck, the Chamber
of Commerce has announced the launch of its
annual crime prevention conference.

Speaking from Police Headquarters yester-
day morning, Chamber of Commerce president
Dionisio D’Aguiliar said that on this the forth
anniversary of the workshop, organisers decided
to use the theme: “A Practical Approach.”

Mr D’Aguiliar said that in previous years, the

general focus was on violent crimes affecting

businesses, however this year organisers are
looking at the issue of white collar crimes as a
leading threat to businesses.

Mr D’Aguiliar said: “There is no doubt that
the cost of internal or customer theft is far more
costly to businesses, than the traditional violent
crimes like armed robbery.”

Set to be held on November 13, Mr pens

iar said that the day-long conference will
look at a cross-section of anti-crime measures,
including surveillance systems, workplace
crime prevention, crime trends, and fraud pre-
vention.

Commissioner of Police Reginald Ferguson,
also speaking at the press conference, noted
that since the introduction of the programme,

“~“there-has been-a significant reduction in crime

against businesses — because owners are now
more aware of some of the habits of criminals.

Adding that the police have from the start
been supportive of the programme, the com-
missioner said he hopes business owners being
educated on white collar theft can walk away
with a comprehensive understanding of various
action plans that can help them avoid becoming -
victims.

Along with the.Chamber er Commerce and
the police force, the Bahamas Crime Stoppers
agency has also offered its support to this ini-
tiative, which is hoped ‘to draw in more than
100 business owners and operators from
throughout the community.

Immigration minister meets with the
Bahamas Financial Services Board

‘ Colina General



ney met with executives of the

‘industry, the second pillar. of .
‘the economy...

@ By LINDSAY THOMPSON



MINISTER of State for
Immigration Branville McCart-

Bahamas Financial Services
Board on Thursday to discuss
issues relevant to the continued —
growth of the financial services

‘The industry’ 'S ; requests for”
work permits for foreign work-
ers were discussed during the
meeting, which took place at
the Department of ummigration
on Hawkins Hill.

the construction area, and
through ongoing employment
and engagement with Bahamian
businesses.

“So we really want to make
sure that there is a policy and
process that we can communi-
cate to these individuals around
the world that it is transparent,"
that speaks to a timeline and
encourages them to consider
the Bahamas amongst many
options that they have and so
we are really about growing the
economy of the Bahamas,” Ms
Warren said.

“The Bahamas Financial Ser-
vices Board really wants to

Deputy Prime Minister and
Minister of Foreign Affairs
Brent Symonette; retired direc-
tor of Immigration Vernon Bur-
rows; Wendy Warren, chief
executive officer and executive
director of BFSB and Craig
Gomez, BFSB chairman,
attended. :

“The fact that ‘we are having
this meeting shows that we are
committed to improving the

-financial services industry in the

country,” Mr McCartney said.
He said government is aware
that the financial services indus-
try is the second pillar of the
economy and has “done a pret-
ty good job” in looking at mat-
ters relative to the sector.
“The idea is that we are here
to provide a service and to be as
accommodating within the law
as possible. We also want to get
rid of some of this bureaucracy



PUN em LO Or nT,

gration is “a very important”
agency for purposes of finan-
cial services, primarily in the
issuance of work permits.
“They need.to-have- experts
and persons who are involved

“with corporate brands that’ we
have in the Bahamas to join ©

with us in developing the indus-

try,” Ms: Warren said.

She said a major priority for
BFSB is the use of permanent
residencies_as.a_tool for eco-
nomic development % and there
are many avenues from which
this can be pursued.

“Firstly, directed at the finan-
cial services industry. In many
ways, these individuals would
do business in the Bahamas and
where they have a permanent
residency here, the.amount of
business and ties to our industry

work with the government in
any number of matters to
ensure that policies are ones
that we are able to. communi-
cate to potential clients and that
the system ‘operates in such a
way that‘we can°deliver com-*
mitment’ to these individiials,"”’
so that our reputation ‘for Beye *
a high-quality destination is pre-
served,” she said.

The government instituted
the Bahamas Financial Services
Board in 1998 “to promote a
greatér awareness of the
Bahamas’ strengths as
an international financial cen-
tre”.

The BFSB represents and
promotes the development of
all sectors of the industry,
including: banking, private
banking and trust services,
investment funds, capital mar-

. that the epaninent of Immi-

and be more efficient in our
process,” Mr McCartney said.
Ms Warren acknowledged

increases,”.Ms Warren said.
She noted that these individ-

uals bring important jobs and

contributions to the industry in

kets, investment advisory ser- -
vices, accounting and legal ser-
vices, insurance and corporate
and shipping registry,

Group praises government over sea turtles.

A LOCAL activist group is applauding the gov-
ernment for backing a proposal to ban the har-
vesting of all sea turtles in the Bahamas.

Ministéer-of--Agriculture. and Fisheries Larry -
Cartwright announced this week that as of January
1, 2009 the commercial harvestitg of turtles will
become illegal. He said that harvesting turtles for
any reason will be banned from April 1 next year.

However, activists say the proposal will not be
binding until it is made into law. °

The initiative is “a step in the right direction,”
according to Debbie Krukowski, spokesperson for
the Bahamas Sea Turtle Conservation Group.

Now, the group is urging concerned Bahami-
ans to intensify letter writing campaigns and sign a’

petition to give the proposal “the extra steam it ~

needs” to be quickly approved by parliament.

“We want to remind everybody that this legis-
lation is only a proposal, it is not a done deal,” ' said
Mrs Krukowski.

“Group president Jane Mather has baliéa the
killing: of tirtles‘in the Bahamas “a national dis-
grace.”

“Fishermen bring the creatures ashore with the
flippers pierced and tied with straw. They are rou-
tinely dragged on to boat ramps and turned on
their backs and left to suffer for days in the hot
sun,” she said.

Five species of marine turtles are found in

Bahamian waters: Green,. Lospethend: Hawksbill, :
Leatherback and Olive. ~ . attests

All species are protected during the closed sea-.
-son between April 1 and July 31, and the taking of
turtle eggs is prohibited by law.

There is also full protection for the endangered
Hawksbill turtle and a minimum harvesting size for
Green and Loggerhead turtles.

“The legislation is a step in the right direction
and we would like the government to pass this
legislation ‘as Sori as possible,” Said a Krukows- °
ki.

In recent months, the group’s campaign to ban

“the killing of sea turtles has gained momentum.

The group launched a redesigned website at:

“Www.saveourseaturtles.com to support their inter-

national advertising programme.

The site includes information about sea ie
articles, photos showing the inhumane treatment of
turtles and links to other sites.

Thousands of people have so far signed a peti-
tion, which can be found at: www.Caretopeti-
tion.com, to end sea turtle killings, and more than
300,000 people have seen the peliny ad campaign,
according to the group.

Bumper stickers announcing stipport for the
campaign can be seen all around New Providence,
and the group is reportedly sending out press
releases to news agencies around the world.



ee ee re re Ce
THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 3





© In brief

Police probe
fraudulent
cheques
allegations

POLICE are investigating
claims that a Bahamian man
is passing fraudulent cheques
at local foodstores through-
out the capital, The Tribune
has learned.

According to reports
reaching this daily, the con-
artist uses‘a system where he
pretends to purchase about
$150 worth of groceries and
presents a cheque for a sub-
stantially higher value, such
as $5,000 in one case.

The unwitting teller is
expected to then deduct the
payment for the groceries
and cash out the remainder
of the cheque.

One local foodstore is said
to have been the victim of
this charlatan to the tune of .
more than $10,000 so far.

The public is asked to
remain vigilant-in this regard
and report any suspicious
activity to the nearest police
station.

Government ‘does
not expect to lay off

BTC staff before sale’

JULIAN Francis, former
governor of the Central Bank
and executive chairman of
BTC, said government does
not expect to lay-off any staff
from the telecommunications
company leading up to its sale
which is still scheduled for the
end of this year.

Following the sale, however,
such managerial decisions will
be left up to the new owner,
Mr Francis said.

When asked about any pos-
sible firings, he said: “No, I
don’t think so. Absolutely not.
There is no intention, no plan,
whatsoever to do any redun-
dancy exercise before the
sale.”

However, after the sale, Mr
Francis said, the government
has maintained that they will
not interfere in the day-to-day
operations of BTC.

Mr Francis also noted that
government, as a 49 per cent
shareholder, will maintain a
presence on BTC’s board of
directors and will have influ-
ence over a number of issues.

“The government will

Ex-Central Bank governor
offers partial reassurance

Julian Francis

reserve a sort of veto right.
And that is normal; if you are
a 49 per cent owner you will
probably have some say on



big issues such as major capital

expenditure, dividend issues,
the question as to the eventu-
al continued ownership of the
major shareholder — as to who
he can sell to, those kind of
things.

“But the government of the
Bahamas has made it very
clear. It does not intend to run
BTC from the day of the sale
onward. BTC is going to be
run by the new owners and
the government will not inter-
fere with that. It will treat
BTC like any other business in
which it has an interest.

“Tt will have its proportion-
al representation on the board
of BTC as a 49 per cent owner
and will participate in the deci-
sions at that level. But it will
not interfere, it will not seek to
influence major issues from
the perspective of govern-
ment,” he said.



Jamaican reggae star Mavado was
a victim of discrimination — claim

@ By ALEX MISSICK

JAMAICAN reggae star
Mavado was “unjustifiably dis-
criminated” against by the Immi-
gration Department, concert
organisers Sigma Management
said yesterday.

The promoters expressed their
disappointment over the author-
ities’ handling of Mavado, who

was headlined to perform at last.
weekend’s Millennium Count- ..

down Concert. They claim they
lost a massive amount of money
when the government decided to
block the artist from entering the
country. The promoters issued a
press statement saying that Mava-
do, who has broken no laws in
the Bahamas, was poorly treated
and unjustifiably discriminated
against upon arrival at the Lyn-
den Pindling International Air-
port on Thursday, October 30.
“He was not permitted to enter
the country or given any reason
why he couldn’t enter as an enter-
tainer or-as a tourist. He was
escorted back to the aircraft when
he arrived at the immigration
counter and suffered embarrass-
ment and humiliation as he was
singled out among those arriving
‘on the flight and handled in a
degrading fashion. This was most
unprofessional and unaccept-
able,” Sigma Management said.

Sigma Management indicated _

they were further disappointed
in the stance of the State Minister
for Immigration Branville
McCartney, who did not give
Mavado or the promoters a fair
hearing regarding his perfor-
mance at the concert, but instead
listened to the detractors of ihe
event.

“Tf he had done so or even
afforded the promoters an oppor-
tunity to address the matter, he
would have gathered the facts of
the matter. Mavado was con-
tracted by Sigma Management
and Downsound Records to per-
form three specified songs at the
concert. None of which promoted
any explicit language whatsoev-
er,” Sigma Management
explained.

- Promoters said this.is not the
first time Mavado has entered the
Bahamas to perform.

“Mavado was given permission
by the same Immigration Depart-
ment and allowed to perform in
the Bahamas on three previous
occasions, including a scheduled
concert at Arawak Cay three
months ago. The only reason he
didn’t perform at the time was
because the concert was ‘rained
out. The detractors were nowhere
to be found,” the promoters said.

Sigma Management noted that
as a result Mr McCartney’s deci-
sion, a vast amount of money was
lost that could have been shared
among local Bahamian charities,
government run schools and the
Christian church.

“We timed our events such as
these concerts for the past eight
years to help generate some much
needed monies in the local econ-
omy of the Bahamas and to ease

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the financial woes of many local
Bahamians just before Christmas.
We choose to spend big bucks
and long dollars at this crucial
time of the year as producers of
these concerts while other pro-
moters are shutting down pro-

ductions. We do not believe we

are deserving of the poor treat-
ment we have received from our
government authorities,” the pro-
moters said.

The promoters said they
believe that the root cause of
crime is the poor economic situa-
tion — not music — and therefore
every year they attempt to cre-
ate an environment where the
economy is simulated. ~

“The Millennium Countdown

‘concert series has again this year,

as like in previous years provided
jobs for thousands of Bahamians
in tourism, transport, construc-
tion, security, vending, produc-
tion, media, public relations
advertisement, radio and TV sta-
tions shipping; limo services, local
artists and disc jocks, airlines,
hotels, entertainment, clothing
stores, barber and beauty salons,

shite
Stock

Fabric

(in tent)

“He was not permitted to enter
the country or given any reason
why he couldn’t enter as an
entertainer or as a tourist.”



clearing and cleaning contractors,

:.,fencing,.ticket sales,,courier ser-,, ;,
«+rvices, wine and spirit merchants
and many others. This is a big.

business that brings a great finan-
cial windfall to our Bahamas. We



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Sigma Management

, have, been most responsible as

promoters to not promote any-

- thing;in poor taste or damaging to

the Bahamas, This is home. We
live here too and love our coun-
try,” Sigma Management said.

oy sissies

ah

accessories at

Obama victory will
help shatter racial
stereotypes, says. PM

BARACK Obama’s extraordi-
nary victory at the polls will go a
long way in shattering racial
stereotypes in America, Prime
Minister Hubert Ingraham said.

The day after the American
election, Mr Ingraham transmit-
ted a letter to President-elect Sen-
ator Obama, congratulating him
on his historic victory.

“The government and people
of the Bahamas join with millions
around the world in extending
congratulations and best wishes
to the new American administra-
tion,” he said.

Mr Ingraham said that the
President-elect’s success is a
“quintessential American story
of victory over tremendous odds.”

“This has not been a victory
just for Senator Obama, Vice-
President-elect Senator Joseph
Biden and the Democratic Par-
ty. It is truly a victory for Ameri-
ca which demonstrated to the
world that, notwithstanding its
history of slavery and discrimina-
tion, it has peacefully moved
beyond race in selecting its pres-

PMC CORT]



Una Ne neuen

ident. This will strengthen the
special place that America holds
in the minds and hearts of free-
dom-loving people everywhere,”
Mr Ingraham said.

“The Bahamas has enjoyed a
special, warm and close relation-
ship with successive US adminis-
trations. Our national interests
are closely intertwined with those
of the United States of America,
our nearest neighbour and chief
trading partner. And so we look
forward to a continuation of this
special relationship that has long
existed between our two coun-
tries.”

_ The Secretary General of the Organisation of American
States José Miguel Insulza yesterday sent the following letter
to the president-elect of the Unites States Barack Obama:

Dear Mr president: -elect,

Please accept my: ‘warmest songiatuldtione for your extra-
ordinary election to lead:the United States of America over

the next four years.

Your election raises immense hope in the- Americas. As E
we face major common, challenges, we at the Organisation of |
American States, which brings together the 34 democracies » |;
of the region, look forward to working with you to promote.
peace, justice, security and prosperity in the Western Hemi-

sphere and in the world.

Your candidacy and the enormous support you received
from every sector of the US society shows us the potential
for the democratic system to ‘evolve and embrace the partici-

pation of all.

We look forward to joining you in opening a new chapter
of co-operation and partnership in our neighbourhood.
Under your leadership, the United States, a crucial member
of the Organisation of American States, will effectively use
modern multilateralism and strengths of our hemispheric
community to address our common challenges. ©

We have a unique opportunity for a positive agenda in the
Americas. You have an . open invitation to come to our

’ Please, accept Ni PE
highest regards. me

tony and Whteler ware jus: Sentenced to 150 hours mentoring Lax

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‘
PAGE 4,; FRIDAY, NOVEMBER 7, 2008

SEMIS NUT Sake TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Published Daily Monday to Saturday

Shirley Street, RO. Box N-3207, Nassau, Bahamas
Insurance mMapapement Building,, PO. 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

Change has come to America

NEW YORK — We got accustomed,
during the long presidential campaign,
to hearing the word “historic.”

It was a word that applied to the
length of the campaign, the 50-state
competitiveness of the Democratic pri-
mary, the vast sums of money involved,
and the candidacies of Barack Obama
and Hillary Clinton. On Election Night,
it was said that history would be made
“either way”; John McCain, after all,
would have become America’s oldest
president-elect if voters had chosen him.

There is, of course, something historic

in the nature of any election.

By electing Barack Obama, howev-
er, America made a choice that res-
onated to this nation’s deepest founda-
tions.

Four hundred years ago, the first
. Africans arrived on our shores in chains.
And 232 years ago, when our nation’s
founders declared independence from
the British on the basis of Enlighten-
ment principles of the universal rights of
man while leaving African-Americans in

bondage, slavery became our nation’s s

~soriginal sin: = - wines

Ever since, Abitrican history has ieee

inextricably tied to race.

One hundred forty-five years ago,
blacks finally gained emancipation as
the question of slavery tore our nation
apart.

Fifty years ago, the modern civil-rights —

struggle exposed cultural fault lines that
inform our politics and our national dis-
course to this day.

‘Some speak of Sen. Obama’s election
as heralding a “post-racial” America.
Such talk, as hopeful and well-inten-
tioned as it may be, obscures the very
real truth that race matters still, and
that hard work remains to realize Dr.
Martin Luther King Jr.’s dream of a day.
when all Americans will be “judged not

by the colour of their skin but by the

content of their character.”

What this election does mark is a new
and dramatic turn in the American sto-
ry. The success of the Obama candidacy
has opened a chapter that was long
anticipated but sooner coming than most

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dared hope. No one knows how the sto-
ry will develop from here, but one can
sense that one of its most immediate
and healthy effects.for our democracy
may be a new sense of enfranchisement
for African-Americans.

One saying that circulated during the
campaign went, “Rosa sat so Martin
could walk; Martin walked so Obama
could run; Obama runs so our children
can fly.”

Or as President-elect Obama asked
at the outset of his Election Night
address to the huge crowd gathered in
Chicago’s Grant Park, “Is there anyone
out there who still doubts that America
is a place where all things are possible?”

None of this is to deny the politics of
the here and now.

This election took place against the
rough-and-tumble of issues that have
little to do with race and everything to
do with an America where people are
hurting and anxious in the face of
tremendous challenges at home and
abroad.

.The,fact that the campaign’s focus

remained consistently on economics
rather than racé speaks itself to’ the ‘dis-
tance this country has come, and this
country will return soon enough to par-
tisan feuding and hard-fought debates
over policy.

There will be plenty of analysis in the
days and weeks ahead about the politi-
cal ramifications of the victory won by
Obama and his fellow Democrats.

But every once in a while, something
happens that is momentous enough to
invite a long, deep pause for reflection.

The election of this nation’s first
African-American president merits such
a pause. Years from now, you will
remember where you were on Nov. 4,
2008, not because of what it meant for
Barack Obama and his supporters, but
because of what it meant for our coun-
try. In the words of the’president-elect,
“Change has come to America.”

(This article was written by Dan Rather
of Hearst Newspapers c.2008).



e need to know
when to put
politics aside

EDITOR, The Tribune.

In his book entitled Philos-
ophy and opinions of Eugene
K Robinson the statement is
made: “Perhaps the politician
should ask. himself, What is
wisdom? Or What is Histo-

ry?” Should it be written, the

FNM and its Prime Minister
have brought about a change
in our Bahamaland.

Fellow Bahamians, history
is defined as a continuous, sys-
tematic narrative of past
events as relating to a partic-
ular people, country, period
or person, etc.

Wisdom is defined as schol-
arly knowledge or learning

. and having discernment or

insight.

Getting straight to our
point, over the past years the
Bahamas as a country has suf-
fered many fears and losses
because of acts of nature,
namely hurricanes.

After each disaster I can
recall many countries coming
to our aid in bringing relief,
and amongst them were the
Turks and Caicos, and other
neighbouring countries.

First, we would like to apol-
ogise for our fellow Bahami-
ans who are speaking out in

ignorance more than anything

about the latest action of our
Prime Minister in rendering
financial assistance to the likes
of a ravaged Haiti and Turks
and Caicos.

Next, we would like to
inform them that while no
government will be perfect we
are mature enough that we
ought to be able to commend
any of our governments when
they perform a complimenta-
ry act of love while performing
their duty.

The Holy Bible declares
that we ought not to be
deceived, our God will stand
by His word and whenever we
do a good deed we will receive
it back many fold in our time
of need.

So because of this law and
the action of the Prime Minis-
ter, not only will he be blessed,
but also the Bahamas as a
country.

Truth is all we have to do

is look around, ask Eleuthera, .

Grand Bahama, Acklins
and our other brothers and sis-
ters.

We need to know when to
put politics aside.

The present government

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ought to be commended for
all the good they are trying to
do at present, especially for
the delay of not rushing off
the illegal immigrants back to
their home.

To show our human side
we are tired of them coming
here and taking our jobs, dis-
respecting our country and

‘taking the little that should be
_ given to our struggling peo-

ple, but the Prime Minister
made the decision and truth
be told it’s a righteous stand
because we wouldn’t like it
should Canada and Jamaica
ship our people back home
without care or consideration
of their welfare.

Yesterday was Opposition
Day in the House of Assem-
bly, and we decided that each
would take an assignment and
follow up on issues, events and
articles being voiced in and
about the Bahamas.

My assignment was the
House of parliament and I
must admit I was impressed
with the attendance, well of
course:the MP for Fox Hill
was noticeably absent, (but
what else is new?).

However he did join us in
the 3pm session.

On a more serious note I
was also impressed with the
leader of the opposition, Mr
Perry G Christie, when he
shared about'the effect and
real burden that unemploy-
ment is having on our
Bahamian people.

Mr Christie went on fo
share that it is hard for any
family when a parent is laid
off from a job or career at age
forty or forty-five and has the
burden of paying, mortgage,
rent, insurances and other bills
of convenience.

Mr Christie did not stop
there, he brought to the atten-
tion of the House that it’s a
reality that a parent at that
age will find it a task to get
employment again because
the employers today are more
likely to choose a younger per-
son in their stead.

As Mr Christie spoke I
could not help but mentally
reflect on the people above
the age of thirty out there who
are not being given a second
chance by our government by
ridding them of those spoilt
police records.

Now your spouse comes
home and not even with a
decent package, again you feel
robbed by the system and the
government tells you to get a
lawyer, wow if it was that easy.

Mr Prime Minister, that
family has just been added to
your hunger list and as we
shared earlier, if we continue
to create enough hunger it will
force many to consider crimi-
nal acts.

The law of sowing and reap-
ing applies here also.

We would like to suggest

that more Bahamians visit the °

House of Assembly or watch
it on television to both learn

and speak in Wisdom when
confronting government or
speaking on issues of today.

We would like to thank you,
the people for your show of
strength, foresight and com-
mon sense judgmen* on re-
electing Mr John Pinder and
his union for another term.

We think it’s poor when any
union or ministry, etc, is
formed to gain political
mileage. ©

It is a further disgrace when
people are seemingly seeking
office for the prestige and ben-
efits rather than for the bet-
terment of our people.

We could not help but take
notice of the arrogance of Mr
Godfrey Burnside, not to
mention the lack of team spir-
it and connection to the peo-
ple by Kenneth Christie of the
Bahamas’ Public Service
Union. What were they think-
ing, Christie for president!

Mr Prime Minister, mem-
bers of both the govern-
ment and the opposition, fel-
low Bahamians, we are by no
means a group of people seek-
ing to find fault in our gov-
ernment, opposition or spiri-
tual leaders.

We are not operating as a
run-away train, it is our prac-
tice to follow protocol in var-
ious cases before confronting
it publicly through the media.

We are here to represent all
Bahamians but to also speak
to-and on behalf of the ones
who are not given a voice.

Mr Prime Minister, every
aspect of protocol was fol-
lowed with the applications at
the Ministry of Education and
as you will discover in the not —
too distant future many of
your Ministers are turning the
people away telling them they
are only there to help their
own (namely their con-
stituents).

In all fairness also to ensure
that proper protocol is fol-
lowed, in the future we would
address our concerns with the
Minister and Minisi.y con-
cerned, enabling them ade-
quate time to address our con-
cerns.

If we feel that the situation
is not dealt with in a satisfac-
tory manner then we would.
proceed to call on the Prime
Minister for assistance also
allowing him adequate time
to address it before exposing
the matter to the public.

These are just steps in
assuring you that your voice
and our voice will be heard.

Until next time strive to live
peaceably with all men and
always be mindful that before
you were a PLP or an FNM
you are and will forever be a
Bahamian.

MINISTER S DAVIS
, Nassau,
October, 2008.

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THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 5



© In brief

Art exhibition
to be held at
Freeport Art
Centre

The Grand Bahama Artists
Association is inviting persons
to take part in its first Thanks-
giving Art Exhibition on
Thursday, November 13, at
the Freeport Art Centre on
Grand Bahama Island. The
exhibition continues until
November 29. The Centre's
hours are Monday to Friday,
9am to Spm, and Saturday
from 9am to 12pm.

Iran leader
offers salute
to Ohama

@ TEHRAN, Iran

President Mahmoud
Ahmadinejad of Iran sent an
unusual letter congratulating
President-elect Barack Obama
on Thursday for his victory in
the American presidential race,
even though the two nations
_ have had no diplomatic ties for -

nearly 30 years, according to the
New York Times News Service.

Ahmadinejad has written let-
ters to world leaders in the past,
including one to President Bush.

‘But this is the first time an Iran-
ian leader has congratulated the
winner of an American election,
at least since the Iranian revolu-
tion.

Diplomatic ties between Tran
and the United States were sev-
ered in 1979, when radical stu-
dents attacked the U.S.
Embassy in Tehran and took
American diplomats hostage.

Iranian leaders continue to
use hostile language toward the
United States, and Ahmadine-
jad had said that he did not
think a black candidate could be
elected because of racial dis-
crimination.

“I congratulate you for
attracting the majority of votes
in the election,” Ahmadinejad
wrote in his message, an Iranian
news agency, ISNA, reported.
“As you know, opportunitiés

that are bestowed upon, humans ,

are short lived,” he wrote,
adding that he hoped Obama
would make the most of the
opportunity. The delivery of the
letter coincided with a move by
the Bush administration to put

._ More pressure on Iran by
adding measures that prohibit
financial institutions from help-
ing Iranian banks, the govern-
ment or others in the country,
the Treasury Department said
Thursday. Previously, American
financial institutions were
allowed to handle certain mon-
ey transfers that might have
directly or indirectly helped
Iranian interests.

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Obama election victory
‘does nothing to address
institutionalised racism’

Bahamian social
commentator
voices caution after
election of black
US president

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

The election of a black presi-
dent in the United States “does
nothing to address institution-
alised racism,” a Bahamian
social commentator said yes-
terday.

Erin Greene, founder of the
gay rights group the Rainbow
Alliance, said that while Barack
‘Obama’s election on the back of
votes from 43 per cent of white
Americans is a definite “blow
for racism”, people should not
be complacent in thinking it sig-
nals its end.

“Just by the election of a non-
white person as president, does
that necessarily imply that
there’s been a deconstruction
of institutionalised racism?”
asked Ms Greene.

In the Bahamian context, Ms



PRESIDENT-ELECT Barack Obama waves after. giving his acceptance

speech at Grant Park in Chicago Tuesday night, Nov. 4, 2008.

Greene said that racism has
“not been a major problem for
a number of years (but) insti-
tutionalised racism continues to
entrench itself in the Bahamian
way of life, in our systems’ and
our.structures.”

She said Obama’s victory

“perpetuates the confusion, the.

haze, that opponents: to the
argument that institutionalised
racism exists use.

“It’s just going to create a
cloud and it will cloud the real
issue that the effect of institu-
tionalised racism is economical
pressure,” said Ms Greene.

Ms Greene said the triumph
of the senator from Illinois on
Tuesday night is. “a necessary
boost to the African diasporic
psyche, to the psyches of all
non-white people, because (he)
is black... (and because he did
so) in a system that was found-
ed upon white principles.”

“But the truth is there’s been

no real gain until everyone |.

could succeed under that same
system — or at least the vast
majority.

“Obama is extraordinary and
we have to PEED EDISS that,” she
said.



Increased efforts to
detain illegal migrants

@ ALEX MISSICK
THE Ministry of Immigration this week stepped up its efforts to cap-

‘ture illegal migrants by placing road blocks in strategic areas of New

Providence.

Minister of State for Immigration Branville McCartney said that
Wednesday’s road block initiative resulted in the detainment of 89
immigrants. Speaking as a guest on the GEMS radio talk show “The
Way Forward” yesterday, Mr McCartney said that Immigration set up
a number of road blocks in a-Haitian village in the Carmichael Road
area} at the Coral! Harbour and Cable Beach round-a-bouts, and at a
construction site in, Charlotteville.

“Out of those persons detained yesterday there was one Peruvian,
one Jamaican, three Ecuadorians, and 84 were Haitians. They were
transported to the Detention Centre for processing,” he said.

Mr McCartney said that six persons were apprehended at the Char-
lotteville construction site, 52 persons were apprehended in the
Carmichael Road Haitian village.

Allin all, 103 persons were taken into custody as a result of the road
blocks. However, 14 of those apprehended had relatives who were able
to present the necessary documents for their loved ones at the Deten-
tion Centre, he said.

The remaining 89 persons, who do not have proper documentation,
remain in custody.

Minister McCartney admitted that many times persons who are
working here legally are picked up by Immigration officers because they
do not have the proper identification with them to justify their presence
in the country. “Persons ought to be equipped so that this doesn’t hap-
pen. They ought to have their necessary documents on them at all times.
Hopefully as early as next year the work permits will be in the same
form as a driver’s licence to make it convenient for those who do

-have the necessary documentation,” he said.

Mr McCartney said as of today, 6,120 persons have been repatriat-
ed to their home countries and his ministry will begin repatriations
shortly for those persons who are currently being held at the Detention
Centre. °

“We did not repatriate for about three weeks, however, that has
resumed and we will continue to repatriate those persons who come
here illegally,” he said.

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“Out of those
persons detained
yesterday there
was one
Peruvian, one
Jamaican, three
Ecuadorians, and
84 were _

Haitians.”



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Business owners beef
up security measures

@ By LLOYD ALLEN
Tribune Staff Reporter





IN anticipation of increased crime lev-
els leading up to the Christmas season, busi-
ness owners are beefing up their security
measures.

President of the Chamber of Commerce
Dionisio D'Aguiliar told The Tribune yes-
terday that due to a myriad of factors, it is
expected that there will be an increase in
criminal activity during the holiday season

“All the indicators are there, the econo- |
my is down, unemployment is up, and that
usually tends to lead to an increase in crimes

_against businesses,” he said.

With many local establishments, including his own, being subject
to the threat of theft or robbery, Mr D’Aguiliar said he advises
that businesses take every precaution to deter would-be criminals.

Chris Butcher, a manager at the Robin Hood mega-store, said that
it is especially important for a company like his to increase its secu-
rity in all areas because as times change, it has become more of a
necessity for businesses to protect their interests.

Mr Butcher said that local businesses are much more vulnerable
to crime — from petty theft to credit card fraud — during the holidays,
simply because criminals assume there is a greater cash flow.

“We have decided to increased our in-store security by adding a
sophisticated camera system, and will be increasing our physical secu-
rity numbers within the next few weeks,” he said,

Mr Butcher said that although these measures may not be 100 per
cent fool-proof, it adds an extra level of security, without which com-
mitting a break-in would be much easier.

Cheryl Howard, manager of Alarms Limited, said that other
local businesses have also resorted to security upgrades for the hol-
idays, adding that most are prepared to pay a pretty penny for
added peace of mind.

Mrs Howard noted that throughout the past year, a significant
number of businesses have come into her office seeking surveillance
systems, burglar alarms, fire detectors, and other devices.

She said that although her company’s services can cost anywhere
from a few hundred dollars to well over $2,000, patrons are willing
to invest because they feel an urgent need to protect their interests.

Mrs Howard said her customers include stores, banks and even
churches which, faced with rising costs across the board, simply
want to avoid further economic blows.

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PAGE 6, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



Parents in Bain Town are

encouraged to attend forum

Minister opens
workshop hosted by ©
COB in Great Exuma |

MINISTER of Education Carl Bethel trav-
elled to Great Exuma last week to open the
6th Workshop of the Virtual University of
the Small States of the Commonwealth,
which was hosted by the College of the
Bahamas.

Minister Bethel thanked the workshop
participants for being there, some of who
had come from as far away as Tonga,
Lesotho, and Papua New Guinea.

He said that their presence at.the work-
shop came as a result of a meeting held in
Halifax; Canada in 2000 between the Com-
monwealth Education Ministers who shared
their visions, and crafted plans for improving
the delivery of education, and making it more
accessible.

The minister explained that through participation in VUSSC, the
Bahamas has built a network of individuals from its college and
vocational institutes, secondary schools and governmental agencies,
who have been trained to develop Open and Distance Learning
(ODL) course-materials and resources.

He further explained that the national network by design is
integrated into the wider network of VUSSC countries.

The Commonwealth of Learning (COL) was the obvious choice
to coordinate the VUSSC initiative in the Bahamas, Minister :
Bethel said, as they have been at the forefront of one delivery of
relevant programmes, services, and resources for the wider com-
monwealth.

In closing, Mr Bethel acknowledged that the Bahamas has
already benefitted greatly from’ COL, and said he is looking for-
ward to partnering on future initiatives.

While in Exuma, the minister also took time to visit L N Coak-
ley High School, and. Roker’s Point Primary School. At LN
Coakley, the minister spoke to the students about discipline.

He encouraged them to work-hard and not to be distracted. by
negative influences.

Mr Bethel also met with teachers who expréssed various con-:
cerns about educational matters. Following this, the minister |
took a brief tour of Roker’s Point Primary School, where he met
students and teachers.

KEMP'S FUNERAL HOME LINITED

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

RS ieee
Mr. H. U. Pratt Russell, 86

of Marsh Harbour, Abaco, The Bahamas .
and formerly of Nassau and Hope Town,
Abaco died at Marsh Harbour, on Thursday,
6th November, 2008.

rene)









A funeral service is planned for Saturday,
15th November, 2008 in Nassau.








Mr. Russell is survived by his daughter,
Janice Marshall and her husband Rowland
Marshall ll, grand children, great-
grandchildren and other relatives.

” In Lieu of flowers donations may be made
to Agape Christian School, P.O.Box AB
20760, Marsh Harbour, Abaco, in Memory
of Mr. H. U. Pratt Russell.





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2008 at 12 noon

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THE Department of Social
Services went door to door in
Bain Town on Wednesday hop-
ing to encourage parents to
come to a forum where they can
learn about parenting skills and
improving their relationship
with their child.

“We hope we can at least
impact a few parents to help our
youth. Parent our youth. The
biggest problem is that kids are
growing up themselves,” said
Lequient Bethel, a case’ and
aftercare officer with the .depart-
ment.

“We have an issue with our
juveniles, our kids. And we’ve
found the biggest part of the
problem is that most parents

’ aren’t parenting or don’t know

how.”
According to assistant deputy

director Quentin Gray, the par-

enting forum will involve basic

information about how parents
can improve their relationship
with their children.

“For example, how to
strengthen your relationship
with your child, how to love
them, how to care for them,
how to help them with their
schoolwork, how to do
things with them,” said Mr
Gray.

Interest

The social worker said he

“hopes parents can be encour-

aged to take a more active inter-
est in their children, “what they
are doing and where they are
going.”

Additionally, the classes will

teach parents how to budget, as
Mr Gray points out this is cru-

nomic times, to maintaining a
stable home environment.
“Sometimes when you are
having trouble with money it
can create a problem in the
home environment by creating
an atmosphere where the child

‘ might be inclined to go out and
steal, find ways of looking after

themselves,” he noted.

The forum was the first of its
kind held by the department,
and Mr Gray said that if suc-

cessful, he hopes it can be

expanded and offered to par-
ents in other areas.

The Parenting Forum was
held at the C R Walker High
School last night from 6.30pm to
8pm. Speakers included Sandra
Gardiner, senior attorney at the
Attorney General’s Office and

Linda Craigie-Brown, social .

worker and master trainer with
Parenting Partners Caribbean.



“We hope we
can at least
impact a few
parents to help
our youth. Parent
our youth. The
biggest problem
is that kids are
growing up

themselves.”



Lequient Bethel, a case
and aftercare officer
with the Department
of Social Services

cial, particularly in tough eco-

Minister of State touts benefits
of rehabilitation programmes

@ By LLONELLA GILBERT
Bahamas Information Services

IN AN attempt to control the inappro-
priate behaviour of criminal offenders,
the Department of Rehabilitative and

Welfare Services is striving to provide.

quality rehabilitative services by imple-
menting programmes and sponsoring spe-
cial activities, Minister of State. for Social

Development Loretta Butler-Turner said °

during the Rehabilitation Week chuck
service held at Bethel Baptist Church.

The Department’s agencies seek to
protect society by helping offenders
become accountable for their actions,
encouraging offenders to seek employ-
ment where possible, fostering levels of
higher education and addressing those
persons who re-offend, Mrs Butler-Turn-
er said on Wednesday.

The agencies within the Department of
Rehabilitative and Welfare Services are
the probation division; welfare division;
the Simpson Penn-Centre for Boys, and
the Willie Mae Pratt Centre for Girls.

Mrs Butler-Turner said the theme for
the week, “Rehabilitation: Opens Doors
to a New Beginning”, appropriately
encompasses the mission and role of the
Department of Rehabilitative and Wel-

» fare Services in repairing and improving

the lives of offenders and ex-offenders.

Rehabilitation Week started with a
school forum at the BCPOU Hall that
was aimed at empowering and equipping
primary and high school students with
knowledge and information needed for
positive transformation.

A similar event will take place in South
Eleuthera on November 14.

Yesterday, a parenting forum at C R
Walker Secondary school on Baillou Hill



MINISTER OF STATE for Labour and Social Development Loretta Butler-Turner spoke at the

Letisha Henderson/BIS

Rehabilitation Week church service held at-Bethel Baptist Church, Wednesday, November 5.

Road addressed the topic “The Signs and
Symptoms of Delinquency and How to*
Deal with Them.”

Mrs Butler-Turner said, “Through
rehabilitation, individuals can be restored
to a useful life. In this regard, the church
has always been a fundamental part of
our culture where offenders continue to
seek refuge, spiritual aa and ful-
filment.

She explained that the church has also
helped to foster trust and acceptance
between. the community and offenders
while supporting effective reintegration of
offenders in their communities.

“Although crime has been increasing in
our society, the church is expected to hold
to the belief that people can change,” the
Minister of State said.

“The church is to be commended for

conducting the many programmes in the

institutions and community’ that encour-

age changed behaviour.” ‘
She recommended programmes that

‘the church may want to consider that

would further assist offenders in their
goal to become law-abiding citizens. -

One such example Mrs Butler-Turner
promoted was restorative justice.

She said this process includes the
offender, victim and community.

The church can be effective in restora-
tive justice as it conducts mediation ses-

-sions between the parties and encourage

victim compensation.

Other programmes the Minister of
State recommended included literacy,
budgeting, job coaching/placement, life |
skills training, mentoring and substance
abuse. ~

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LOCAL NEWS



Florida deep-sea
explorers working
on more shipwrecks

@ TAMPA, Fla.

FLORIDA deep-sea
explorers who'struck it rich in
2007 say they they’ve found
two more shipwrecks in the
north Atlantic Ocean, accord-
ing to Associated Press.

Odyssey Marine Explo-
ration filed documents in
Tampa federal court Wednes-
day seeking exclusive salvage
rights to the unnamed wrecks
found more than 300 miles
outside the English Channel.
The company believes both
sites could yield valuable car-
go.

The’Tampa-based company
salvaged what could be the
richest shipwreck in history in
the spring of 2007 in the
Atlantic off Portugal. It
brought home an estimated
$500 million in silver coins and
other artifacts from the wreck
of a Spanish galleon.

The Spanish government is
battling-Odyssey in U.S. fed-
eral court over ownership of

Rising star Anna Faris
to be honoured by BIFF

Actress to receive award
at Atlantis in December

THE Bahamas International
Film Festival announced that
Anna Faris, who starred in the
movies “House Bunny”, “Lost
in Translation, and in the “Scary

Movie” series, will be honoured '

with BIFF’s special rising star
tribute.

The tribute will be presented
by off-shore bank and trust com-
pany Ansbacher (Bahamas)
Limited and Chopard. The
announcement was made by

BIFF founder and executive .

director Leslie Vanderpool.
The festival’s rising star award

is given to an actor or actress

whose noteworthy perfor-
mances have put ‘them on the
path to stardom in the industry.
Anna Faris will be on hand for
the special Chopard award trib-

December 8, at Aura Nightclub
at the Atlantis Hotel, Paradise
Island.
“Anna Faris represents every-
‘ thing that is good about Holly-
wood’s present and future.
Through the diverse roles she
has taken on early in her career,
she has displayed tremendous
creativity and a marvelous gift
for acting.

“With a number of hit films to *

her credit and legions of fans
worldwide, including the
Bahamas, she is emerging into a
league of her own and we are

the treasure.

“THE NASSAU MUSIC SOCIETY is pre

ute presentation on Monday,

ring: for the new season.



Nassau Music Society to hold
first performance of new season

NASSAU. Music Society’ s new season ‘opens
this weekend with a.touch of French-style
romance.,

The first performance will be held tonight at St
Andrew’s Kirk, Nassau, with a second at St Paul’s
Church Hall, Lyford Cay, tomorrow.

Organisers say the new season will bring “a
wonderiul programme” for society members atid
the public.

“We hope that those people who attend our
concerts have an enjoyable evening,” said presi-
dent Patrick Thomson.

“We try very hard to vary the programme each
year and over a period to provide music that will
suit everyone’s taste.”

‘The society specialises in classical music both -

serious and light with the occasional evening of
really. light music, but not rock.

"Mr Thomson said: “It is so important to expose
young musicians to live music. Listening toa
CD is one thing but to see the artist on the stage
playing their instrument gives the listener a bet-

-ter appreciation of how to play the music.”

This weekend’s concerts. feature Raminta
Dombrowski, a pianist, and Rita Preiksaite, a
mezzo soprano, who will provide an evening of
French Romantic Music, including songs from
Massenet, Bizet, Berlioz and music from Saint
Saéns.

“It should be a lovely relaxing evening,” said
Italia Watkins, vice-president responsible for
publicity and communications.

This particular evening is being additionally
sponsored by S G Hambros, who are also lead
sponsors for this season. Other major sponsors are
Pictet Bank and Trust and RoyalStar Assurance
with Colina Imperial joining them.

Terry Factor, vice-president in charge of fund-
raising, said: “Without our sponsors we could
not run a music programme. Concerts do not
make profits and as we have tried to improve
the overall quality of the artists we showcase, the
higher the costs go.

“We therefore have to thank our sponsors for
giving the Bahamian public and our members
the opportunity to enjoy live music”.

The programme continues on January 17 and



PulfSuppliers
|

Bayuiaed

2 yes (als
‘tothe drearrt..

ey







18 with a classical guitarist from Italy, Roberto
Porroni, who will play with Christine Gangel-
hoff, assistant music professor at COB, on the
flute.

They will play a programme of compositions
from Falla, Lorca, Piazolla, Morricone and Gersh-
win.

In February, the society is featuring Alberto
Nose, a pianist and winner of the “Santander
International Piano Competition” in Spain. Two
previous winners of this competition, Yung Wok

Woo and Boris Giltberg, have played in Nassau.

‘Alberto is playing on February 7 and 8. In
March Steve Koven is returning to Nassau to
play an evening of light music with Adrian
D’ Aguilar and Neil Symonette and the society is
hoping to have Simone Fitzcharles and the Yode-
phy Dancers perform once again with the trio.

For those who prefer the lighter side of the
music spectrum this concert should be the one for
you on March 14.

And finally, in April, the society has Polina
Leschenko and Mark Drobinsky, who will provide
an evening of piano and cello.

Polina, according to many music critics, is one
of the world’s leading pianists. She is highly-rat-.

ed and, playing together with Mark, is expected to
provide a concert to remember. They are playing
on April 3 and 7.

Christine Gangelhoff and Father Bita, the vice-
presidents responsible for the society’s scholarship
programme, advise that the society foundation set
up in the autumn of 2007 with help from the
Lyford Cay Foundation has awarded its first
scholarship to Giovanni Clarke, a flute player,
who is attending Vandercook College of Music
starting in January.

Giovanni follows a number of society scholar-
ship recipients, including Keiran Roker and
Wendy Lewis.

Christine and Father Bita report that the schol-
arship programme is now administered by the
Lyford Cay Foundation and is more profession-
ally managed and permanent.

Italia Watkins, who is in charge of the web-
site, urges music-lovers to follow society activities
on http://www.nassaumusicsociety.org



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happy to recognise this through
our tribute to Anna at this year’s
festival,” Ms Vanderpool said.
Anna Faris most recently
starred in the hit film “The
House Bunny,” in the leading

‘role of ‘Shelley Darlington’, a

Playboy bunny who is kicked
out of the mansion and tries to
adjust to life on the outside.
The project was hatched from
an original idea by Faris and she
collaborated with the writers of
“Legally Blonde” on the script.

She serves as a producer on
the film alongside Happy Madi-
son Productions for Sony Pic-
tures.

Next Spring, Faris will star
opposite Seth Rogen in the
Warner Bros. production
“Observe and Report” and the
Sony animated film “Cloudy
With a Chance of Meatballs”
opposite Bill Hader.

Additional upcoming films
include Universal’s “Kids in
America” opposite Topher
Grace,” and the British ensem-
ble comedy, “Frequently Asked
Questions About Time Travel”
with Simon Pegg.

In 2003; Faris co-starred in
the Oscar nominated film “Lost
in Translation” alongside Bill

Murray and Scarlett Johansson .

for director Sofia Coppola. |

The critically acclaimed box-
office hit earned Faris rave
reviews.

Faris’ additional feature films
include, “Brokeback Mountain”
for director Ang Lee, “Smiley
Face” for director Gregg Araki,
“Mama’s Boy” opposite Jon
Heder, “Just Friends,” “Wait-
ing,” “Scary Movie,” “Scary
Movie 2,” “Scary Movie 3,” and
“Scary Movie 4”. These films
represent Dimension Films’
most successful franchise to
date.

On television, Faris is well-

| Discounts 7
factory incentives

remembered for her recurring
role on the final season of
“Friends,” playing a surrogate
mother to ‘Monica’ and ‘Chan-
dler’s’ adopted baby.

Entering just its fifth year,
the Bahamas International Film
Festival has established itself
aS a marquee interna-
tional festival in the
Caribbean region, dis-
covering and pro-
moting indepen- ;
dent voices and #


















Thursday, December 4, through,
Thursday, December 11 in Nas-
sau. The festival invites Bahami-
ans to come enjoy cinema in
paradise.
BIFF is a non-profit organisa-
tion committed to pro- .
viding the local com- ;
munity and inter-
national festi-
val-goers with
a diverse »





talent from from. the
around the ¥ Bahamas
world and yy, ain d
showcasing ,, around
a diverse t h'e
array of world
interna-
tional films.
The 2008
edition of
the festival

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PAGE 8, FRIDAY, NOVEMBER 7, 2008 el. Reo oor ae ce THE TRIBUNE



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PAGE 10, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



| LOCAL NEWS

FROM page one

"The government will comply with the
position of the court as to that ruling. The
attorney-general's office tells me that they
are proposing to appeal — that's entirely
up to them," said Mr Ingraham, speaking
to reporters at Coin of the Realm, where a
ceremony was being held to recognise the
building as an historic site.

“The court having determined that one
of the appointments is invalid I accept that.
I will now make another appointment in
due course or the attorney general's office
will appeal but the one doesn't depend on
the other. I do not have to wait for any
appeal to cause another appointment to
be made. The matter was given my con-
sideration and the determination shall be
made," he said adding that he will consult

“the leader of the opposition as is constitu- °

tionally required.

Yesterday, Attorney General Michael
Barnett said that while the prime minister
"respects" the Supreme Court decision,
his office will be filing an appeal.

"We think that the matter is of suffi-
cient importance that it justifies consider-
ation by an appellate court," he said yes-
terday. According to Mr Barnett, unless
the Supreme Court decision is overturned
in the appeal process and "as long as the
chief justice's decision prevails, Senator
Musgrove will not be performing any ‘duties
as a senator." ’

The Attorney General’s office has six
weeks from the date of the ruling to file the
notice of appeal.

When contacted by The Tribune yester-
day afternoon Mr Musgrove said he had

Tropical storm Paloma

Plans to appoint senator

not received instructions to resign from
his post and as far as he was aware would
continue in that capacity.

"My resignation has not been requested
and as it stands today I have not been
instructed to make any changes, if any
changes are required of me, so as it stands
I will continue to serve in the capacity as a
senator unselfishly and to the best of my
ability," he told The Tribune, adding that
his contributions to the Senate were always
made independent of party affiliation.

Up to press time last night, The Tribune
was unable to secure a comment from PLP
leader Perry Christie on the ruling. It was
unknown whether Mr Christie would
appeal the decision regarding Ms Wright's
appointment.

The prime minister added that his job
was to meet the Senate requirements as
outlined in the Constitution — which calls
for 16 senators in the upper chamber —

_and not postpone appointments based on

court decisions.

"I was required to consult with the
leader of the opposition (with respect to
the) appointment of three senators. I did
that. I caused two of the three to be

appointed in May of 2007. The leader of

‘the opposition was not satisfied with that.
He decided to take the matter to court last
~ year, I waited seven months before I made -

another appointment. No decision having
been made by the court, I caused an
appointment:-to be made in January of this
year. That's eleven months.ago. Now a
decision has been made by the court that
says one of those persons is invalid.

FROM page one —

"The Constitution says that there should
be 16 senators and we'd like to comply
with the Constitution. If I had waited for a
decision of the courts, there would have
been no appointments made up to now
after nearly two years. Clearly that's not
what my job is — my job is to seek to abide
by the Constitution the best way I can and
I sought to do so," he said.

On Wednesday, Chief Justice Sir Burton
Hall ruled that Mr Musgrove's appoint-
ment to the senate was invalid, but
declared the contentious appointment of
Senator Tanya Wright would stand. In
May, 2007 Ms Wright and PLP Michael
Halkitis, who was recommended by Mr
Christie, were appointed to the Senate. Mr
Christie argued Ms Wright's appointment
was unlawful under Article 40 of the
Bahamas' Constitution. He contended that
an opposition member should have been
appointed to the vacant seat and in June,
2007 he filed a writ in the Supreme Court,
challenging her appointment.

Mr Musgrove, the deputy vice-chairman
of the Free National Movement, was
appointed by the prime minister in January.
His appointment sparked outrage from the
leader of the opposition.

In his 46-page written ruling, the chief
justice referred to an affidavit filed by Mr
Christie citing Mr Musgrove as a "well-
known FNM activist who in fairly recent
times was widely known to be interested in
securing a nomination to run as a candidate
for the FNM."

In his written ruling, Chief Justice Hall
said that although this was "thin as evi-
dence this uncontroverted assertion suf-
fices to establish that Mr Musgrove's ori-

entation is such that he would choose to’

CALL FOR DOWNTOWN BUSINESSES

place himself under the parliamentary whip
of the FNM."

Consequently, under Article 39 (4) of
the Constitution as conditioned by Arti-
cle 40, Mr Musgrove's appointment was
invalid, Sir Burton ruled. He went on to
refer to evidence which stated that Mrs
Wright "is an individual who professes to
be politically neutral (and) is not a member
of the PLP" and declared her appointment
valid.

Part two of Chapter V of the Constitu-
tion states that nine senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister and that four senators shall be
appointed by the governor-general acting
in accordance with the advice of the leader

. Of the opposition. :

It also states that three senators shall be
appointed by the governor-general acting
in accordance with the advice of the prime
minister after consultation with the laader
of the opposition.

According to a writ filed by the former
prime minister, contained in Sir Burton
Hall's written ruling Mr Christie said the
balance of political balance in the Senate
should reflect the balance in the House of
Assembly. In the writ, Mr Christie said
in accordance with Article 40, the balance
for the 16 member Senate should be nine
seats for the FNM (56.25 per cent of the
total) and seven seats (43.75 per cent) for
the PLP.

This. would reflect the balance of the
House of Assembly at the relevant time
which was 23 seats for the FNM (56.03 per

- cent of the total) and 18 seats for the PLP

(43.9 per cent), according to Mr Christie's
writ.

FROM page one

According to the National
Hurricane Centre, Paloma is

expected to become a catego- -

ry one hurricane today as.it
moves toward Cuba and will
| be 275 miles southwest of Nas-
sau on Sunday afternoon; with
the cone of uncertainty fore-
casting a downgraded Tropical
Storm Paloma affecting the
central Bahamas.
According to Chief Meteo-
rologist Basil Dean, Paloma
should be in the central or
southeast Bahamas by Mon-
day. ‘
He said it is too early to tell
exactly what size system Palo-
ma will be when it arrives in

the Bahamas, but it could be a -

weak tropical storm.

“Hopefully the mountains
of Cuba will break it up,” said
Mr Dean.

“We’re looking for some
rains on Monday, which could
be heavy at times as it contin-
ues to move northeast. °

“If it comes over as a weak
tropical storm we’re talking
about 45mph sustained winds
— that’s something we could
live with.”

In September, Hurricane
Ike plowed through Inagua
devastating its economy,
which is just getting back to
normal.

Mr Dean said that residents
of the southeast should pay
close attention to this storm.

“As-it moves across Cuba
we'll see what it does there

‘and we’ll guide you through

from that point,” he said.



Appdicagts muse have carn CEAasPOnLAs icity.

Karen Alliata, whose family

owns the business, they have °

been talking about looking
into the building’s history
for 30 years.

“We really -hope that oth-
er businesses downtown will
do the same thing, it adds a
lot not only to the business,
but to the tourists and to
Bahamians alike to know
how far back the buildings
date and that we have such
and interesting history,” she
said.

She also said that the Coin
of the Realm sells Spanish,
Greek and Roman coins
that happen to be around
the age of the building itself.

Mr Ingraham, during his
dedication speech, revealed
that many businesses in the
downtown area will be

TO REVITALISE PROPERTIES

offered concessions to revi-
talize their properties.

“I am pleased to be able
_to tell you that we have:

already approved five appli-
cations for concessions
under the Revitalization of
the City of Nassau Act and

look forward with anticipa- |
‘tion to the progress of those

projects,” he said. °

“We hope that the provi-
sions of both Acts will help
to stimulate some of the
needed upgrades to our city
centre and to commercial
centres in the vicinity of our
hotels.” Nw

Chairman of the Antiqui-
ties, Monuments and Muse-
ums Corporation of the

"Bahamas Dr Davidson Hep-

burn, shared‘in the Prime
Minister’s ‘sentiment to

apply.a facelift to the city of’

Nassau

“T hope that the dedica- - made contact again with John-
: son by her cell phone and told

: him she was leaving.

tion and installation of the
approved plaque is an incen-
tive to businesses to follow

. suit in the revitalization of

downtown, Nassau,” he
said.

Mr Ingraham said Nassau
needs to be restored back to
its old glory days of charm.

“A restored and revital-
ized City of Nassau will help
in instilling pride and pro-
viding interest and enjoy-

ment for ourselves and for

our visitors,” he said.

FROM page one

ibility of votes cast in Grand Bahama’s Marco

City constituency: -

Fred Smith, representing elected FNM MP.
Zhivzargo Laing, the current Minister of Finance,
warned Justices to be wary of hearsay evidence
put forward by Ms Bridgewater’s attorney, Philip

“Brave” Davis.

Mr Smith also objected to Mr Davis’ submis-
sion of documents after the close of the case.
The documents were disallowed by Justice Allen.

She said: “All of the documents ought to have
been put to witnesses. Opposing counsel should
have had an opportunity to see them, and to put

lenged.

by 15 people.

Thursday.

Although the court had recorded Mr Davis as
having challenged 97 voters originally, and con-
ceding to show 75 on April 9, Mr Davis said yes-
terday he is now disputing 72.

Mr Laing is disputing the validity of votes cast

The attorneys pledged to tally up the numbers
and give their final numbers to the court on

Leif Farquharson, representing returning offi-
cer Cecil Thompson, said no orders should be

Rane conviction

FROM page one

i the Princess Margaret Hospital
i where she was examined.

, According to the woman, the

? total time she spent with her
: abductors was about three hours
: and during that time she heard
i the two men speak for about an
: hour and half and carefully took
: note of the voice of the gunman
:; who had robbed and raped her.

Five days following the inci-

: dent, the victim began to receive
: telephone calls froma voice
: which she recognized as John-
? son’s. ;

The men, after the rape inci-

: dent, had driven away in her car
: in which she had left her cell
? phone which contained her
: home telephone number.

The voice on the telephone

: asked if he could see the victim
i again. She, after a short conver-
? sation with Jobnson on the first
? call hung up and reported the
: phone call to the police. The
: police ‘set up a monitoring sys-
? tem to monitor and record the
i subsequent telephone conversa-
; tions.

The man»called back again

? asking when he could meet the °
? complainant, again. The com-
: plainant agreed to meet with
: Johnson at a certain location at
: the Town Centre Mall parking °
: lot on Blue Hill Road.

The victim informed the

? police of the arrangement. The
i police provided the victim with a
: car for that meeting at the Town
; Centre Mall’s parking lot.

At about 3 pm on the

? arranged date, she drove in the’
: special car to the location at the
: Town Centre Mall to await
? Johnson.

- After waiting awhile, she

Johnson gave the victim

instructions to drive down the.
? ramp and he would meet her:
; She then drove down+the ramp.

He appeared in front of the

i car, walked to the front passen-
: ger side, opened the door and
i got into the front passenger seat
: of the car and instructed her to
: drive across to the Yellow Elder.
; Garden area.

As they drove, the victim

: asked Johnson why he and his
: associate did “that” to her. John-
? son replied — “sorry about that. It
: ain’t suppose to go like that.”

Election court |

The victim immediately rec-
ognized the voice of the appel-

: lant as that of the man who
| | Taped her on the night in ques-
: tion.

She at that stage immediately

i stopped the car, opened the door
? and jumped out of the car as the
: police approached the car.

The officers closed in on the

car. Officer Darren Nixon then
: ordered Johnson to step out of
i the car.

At that point Johnson pushed

open the passenger door and
’? knocked down Officer Nixon
: who was able to subdue and

dale caperience prokerred., questions in respect of the documents to the wit- Made against him. i ‘
4 ! : 5 ash ?. arrest him.
i Rend resume tot. - nesses if they wanted to. At this stage it is too The case has been adjourned for a decision. : The victim identified Johnson
| Island EM late.” , Mr Laing was declared winner of the Marco tae the manswhe repbed and
Atunt Rhondi Treen In the case which began in February and has City seat by 46 votes in May last year. If Ms“; saned her.
Pax: 356-45)5 been subject to subsequent delays, confusion has Bridgewater's scrutiny is granted, legal authority: ~ Johnson’s grounds of appeal,



would be given for a recount.

i



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ESE LE OS ELLES EEE ESL SLOSS SEER BOODLE SSE SE



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Before buying

? among Other things were that
i the evidence presented to the
? court was insufficient to support —
: his conviction.

In support of his first and sec-

? ond grounds Johnson argued

- } that the voice identification evi-
: dence given by the complainant
? was poor, too tenuous and was ~
? unsupported by other evidence
? to connect him with the alleged
: offence.

He submitted that bécause of -

? the inherent weakness in the
i? voice identification the convic-
: tion is unsafe and unsatisfactory
? and the court should set aside
: his conviction and acquit him.

However, the court said what

: was most compelling is the evi-
: dence of the appellant admitting
? to the victim in the car just
: before he was arrested by the
: police that he was the rapist and
: apologizing to the victim for his. *
: actions.

“That bit of evidence puts it

: beyond reasonable doubt that
: the voice identification by the
? complainant was correct. For the

: Crown it is also submitted that
: the directions of the trial judge to

: the jury in respect of the voice”
: identification is adequate. There
: is sufficient evidence to support
; the jury’s verdict.

“The conviction in the cir-

3 cumstances could not be regard-
: ed as unsafe or unsatisfactory,”
. ?.the ruling said.

PM to speak to nation

FROM page one

However, just how the gov-

i ernment would assist home
? owners was not clear.

Mr Ingraham said yesterday

: that the mortgage assistance ©
? programme will come into
: effect when the formulation of ©
: the policy is concluded.

He also told reporters that

i diversification of the Bahami-
: an economy could not have pre-
? vented its current situation.

_Mr Ingraham said his gov-

? ernment will do the best it can
: “under very difficult circum-
? stances” to stimulate the job
: market of the Bahamas.





ee Knowles






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

KNOCKED out with a 12-
month suspension for defying
the orders of the Bahamas Box-
ing Commission, First Class
Promotions’ promoter Michelle

Minus has claimed that her :

organisation didn’t do anything
wrong. .

The chief executive officer is
calling on the Ministry of
Youth, Sports and Culture to
intervene and force the com-
mission to rescind on their deci-
sion for the welfare of the num-
ber of boxers in their stable.

Minus, who along with her
husband/coach Ray Minus. Jr.
heads the top professional box-
ing organisation in the country,
said she was never informed
about the decision by the com-
mission.

Instead, she claims she had
to hear about it through the
media.

“JT was in shock because I did-
n’t receive any correspondence
to this effect or anything indi-
cating to me that I was sus-
pended,” Minus stated yester-
day in an interview with The

- Tribune.

Agreement

Minus said the last time she
met with the commission was
at a meeting she was sum-
moned to in September. At the
end of the meeting, she said
they all parted their ways hav-
ing concluded what she
thought was an amicable
agreement.

“T.felt if they had planned
to suspend me, [ should have
been called to a meeting and
the issues brought forward and
then if we couldn’t iron it out,

“then the suspension should
have been handed down,” she
suggested.

‘However, Minus said she felt
she was dealt a low blow when
it was claimed by the commis-
sion that she acted in a disor-
derly manner against its mem-
bers. .

“They are stating that I
cursed a member of the com-
mission. That is not so,” Minus
claimed..“I don’t know which

“FRIDAY, NOVEMBER 7,





2008

INSIDE ¢ International sports news

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

’ THE draw has been set for

the prestigious year-ending

week-long Tennis Masters Cup
2008 doubles competition that
starts on Sunday in Shanghai,
China.

And as the number three
seeds,»Mark Knowles and
Mahesh Bhupathi have drawn
to play out of the Red Group
behind the world’s number one
team of American identical twin
brothers Bob and Mike Bryan,
a two-time former champions
in 2003 and 2004, making their

fourth appearance.
The draw was conducted on -

Wednesday night at the Hilton
Shanghai where the names of
the players were inside tradi-
tional Chinese fortune cookies.

Joining the Bahamian-Indi-
an and American teams in the
Red Group are No.5 seeds Jeff
Coetzee and Wesley Moodie of



The S$: ‘dred s Huri icanes anid C. W.
| Sautiders Cougars will have to wait yet
“another day to decide who will advance to

Knowles and Bhupathi to

play out of the Red Group

South Africa, returning for their
second straight appearance, and
No.8 Pablo Cuevas of Uruguay
and Luis Horna of Peru, who
are making their debut.

Heading the Gold Group are
Knowles’ former partner Daniel
Nestor and Nenad Zimonjic of
Serbia — the front-runners as
the No.2 seeds overall. Zimon-
jic was a finalist in 2005 with
Leander Paes in 2005.

Also in their group at No.4

‘are Jonas Bjorkman of Sweden
_and Kevin Ullyett of Zimbabwe

in their debut together,
although they both played with

other partners; No.6 Lukas ©
* Dlouhy of the Czech Republic
and Paes in their debut and |

No.7 Polish team of Mariusz
Fyrstenberg. and Marcin
Matkowski, who are making



| St. Andrew’s’
Hurricanes

their second appearance.

Each team will play the oth-
ers in their group with the two
teams advancing to the play-
off where they will cross over
to play the winners of the two
groups.

From the playoffs will come
the opponents for the final.

Just for participating in the
tournament, each team will be
awarded $50,000. Each match
won, they will earn $15,000.
For winning their semifinal
match, they will collect
$25, 000.

The winning team will pack:
et $100,000 and if the team
goes undefeated in the tour-

nament, they will end up with

a total of $220,000.

Knowles and Nestor are the.

defending champions.





Meee Bhupath







ae
THEODORE SWEETING JR.
hits a triple in the third inning.

the Bahamas Association of Independent Sec-
ondary School’s Junior Boys Championship series.
Due to a power outage, the game was suspended

one of them I did that.to. I
wish they would say who I did
it to because that’s not in my

lead 6-5

” in the bottom of the fourth inning with the Hurri- :

oe aoe g that the commis- canes protecting a 6-5 lead yesterday at the Free- until pc ower

; dom Farm Field. ce ‘
it phen crag et On nes The Cougars lineup started out quickly as Elliot failure
who are not in any con dig nité Francis, Theotis Johnson, Leslie Darville and suspends
fight overseas,” Minus said Theodore Sweeting Jr each plated runs in the home

2 ‘ 5 half of the first inning.

Iiiaps ter ads, the Pesponse: Despite Sweeting’s powerful delivery from the game

bility of manager/coach on
deciding which fighter gets to
travel.

“I think 12 months is harsh
for something that we could
have sat around the table and
ironed out,” she charged. “You

plate, the Hurricanes lineup rose to the challenge,
responding with three runs in the bottom of the first
to trim the deficit to one.
Following an initial strikeout, Ashland Butler sin-
gled and Alex Euteneur drove home an RBI single.
The Hurricanes added two additional runs on a







don’t.just send out such a wild pitch. : :
hatsh decision.” The defending Junior Boys runners-up increased LEIGHTON GIBSON atthe &
SEE page 12 SEE page 12 plate for the Hurricanes.
PAGE 12, FRIDAY, NOVEMBER 7, 2008

TRIBUNE SPORTS



SPORTS

Michelle Minus
sneaks out on
Suspension

FROM page 11

But the commission, head-
ed by Pat ‘the Centreville
Assassin’ Strachan, had indi-
cated in a letter presented to
Minus prior to the suspen-
sion that there is a financial
obligation that is still out-
standing with the Michael
Gbenga camp for the British
Commonwealth mid-
dleweight title fight with Jer-
maine ‘Choo Choo’ Mackey.

“The (Gbenga) camp had
sent a letter to the commis-
sion saying that $65.00 of
their money was not good,”
Minus said.

“I then told the commis-
sion to ask them to send
proof that when they took
the money to the bank that it
wasn’t good.:To this date, I
have not received anything
in that regard,” she claimed.

Minus said in the letter she
received from the commis-
sion, it stated that the com-
mission paid the Gbenga
camp and they need her to
repay the fee. But she said
she’s not prepared to do so
until she has proof. ©

“They are not looking out
for me at all. They are just
leaving me out there to
hang,” she insisted. “I don’t
have a problem paying any-

- body $65.00, compared to

the thousands of dollars that
we have already paid for the
fight.” -

As for the commission’s
claim that the suspension
won’t affect the fighters,
Minus said it certainly does
because they are under con-
tractual agreement with First
Class Promotions.

“My character is out there
on the line, so to me it does-

n’t make any sense why we |:

can’t come together and iron
out this problem,” she

explained.

Minus is calling on the
Ministry to intervene as First
Class Promotions had anoth-
er hectic schedule lined up
for 2009, including Mackey’s
title defence and a British
Commonwealth title fight for
lightweight Meacher ‘Pain’
Major.

_ “It’s disheartening that the
boxers are just standing
around. They are training,
but they really don’t have
anything to look forward to,
except continue to fight
abroad,” she summed up.

your
news

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising-funds for a
good cause, campaigning _
for improvements in the
area or have won an
award.

If so, call us on 322-1986
and share your story.

©2008 CreotiveRelations.net





















All Compact |
ait era icy

Junior boys
game suspenced

FROM page 11

their defensive intensity in the -

second inning, after giving up a
triple to the first hitter in the
lineup, the Hurricanes retired
the nest three hitters in consec-
utive order.

St. Andrew’s tied the game in
the bottom half of the second
inning at four only to have the
Cougars regain the lead shortly
thereafter when Sweeting blast-
ed a leadoff triple and was
brought home on an RBI sin-

~ gle by Sammy Mullings.

The Hurricanes took their
first lead of. the game when
Leighton Gibson crossed home
plate on a pass ball.in the bot-
tom half of the inning.

The Hurricanes’ defence once
again retired the side in.consec-
utive order in the fourth inning.

Sweeting recorded two of his
game high eight strikeouts in
the bottom of the fourth before
the power went out, forcing the
suspension.

The BAISS playoffs resumes
today at the Freedom Farm
Field beginning at 4pm.

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Rosetta & Montgomery Streets

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Email: Geofflones@comcast. net

You'll wonder how you ever got along without it.








Tim Clarke/Tribune staff



ACTION from the

’ BAISS Junior Boys

Semifinals yester-
day at the Freedom
Farm Fields. The St.
Andrews Hurri-

’ canes led the C.W.

Saunders Cougars
6-5 in the bottom of
the fourth inning

. before the game

was Called due to
darkness.













































Dolphins
‘defence shows
‘improvement

@ FOOTBALL
DAVIE, Fla.
Associated Press

MIAMI DOLPHINS
coach and head nitpicker
Tony Sparano combed
through a videotape of the

: latest performance by, his
; defense seeking material to
: scold his players about.

He was looking for missed
tackled, coverage break-
downs and flawed funda-
mentals — the sort of things

; that have doomed the Dol-
: phins' defense at times this

season.
But in Sunday's victory at

? Denver, the list of misdeeds

was short. ,
"Defensively it was hard to

find some things that weren't
: really good for a change,"

Sparano said with a chuckle.
That's progress, and now

: Sparano's defense can claim

to be average.
Miami (4-4) is 22nd in the

? NFL in yards allowed, and
: 12th in points given up. But

while those rankings are

? modest, first downs and total
: yards for the opposition have-

declined each of the past
three weeks, and the latest

; performance may have been
: the most impressive yet.

Denver netted only 14 -

: yards rushing, breaking a
: Dolphins franchise record
: set in their first season in

1966. The Broncos totaled

: 319 yards and lost,26-17.

"The defensive line played
an amazing game," Miami
linebacker Channing Crow-

i der said Wednesday. "I did-
i n't touch a lineman. I wasn't

even sore after the game,
because I wasn 't wrestling
anybody."

Miami's defense has been

that sort of force at times this
? season — and much better

than a year ago, when the
Dolphins went 1-15 and
ranked last in the NFL

; against the run.

But the Dolphins seem to

play to the level of the oppo-

sition, which could be a

? problem Sunday against .
: injury-riddled Seattle (2-6).

"If we play like we did last
week, the sky is the limit,"

i said linebacker Joey Porter,
? who leads the NFL with a

career-high 11? sacks. "We

: show so many spurts of being
? good. We just need to do it

on a consistent basis."
Porter, thriving-in the 3-4

? scheme installed by the new
: Bill Parcells regime, has ably
? filled the playmaker role of

? the departed Jason Taylor.

New nose tackle Jason Fer-
guson has effectively plugged.
the middle. And outside line-
backer Matt Roth has found
a home after struggling for
three seasons as an under-
sized defensive end.

"Joey Porter does a

? tremendous job in the pass
? rush," Sparano said. "But I

think that Matt Roth's pres-
ence on the edge in the run
game goes unseen some-
times. I think that's a very
important part of what we 're
doing."

The secondary remains the

} weak link, although 2006

: first-round pick Jason Allen
: has played well recently as a
: third cornerback, bolstering
i the pass coverage.

Teams are averaging only
3.5 yards per carry against
Miami, an improvement on
last year's 4.5 average.
Missed tackles are on the
decline — the Dolphins had

? more than 20 in one early-
i season game, but Sparano
? counted only half a dozen

: Sunday.

And they're becoming ,

: more of a ball-hawking

defense, with 12 takeaways
in the past four games after

: totaling three in the first four

games.
But has the defense

improved enough for Miami

to mount an improbable bid

: for a playoff berth? To put it
: another way, can the Dol-

: phins consistently deliver the
: sort of defense that helped

? them win Sunday?

"You don't want to jump

to conclusions, but we have
: the ability to do it," Crowder

said. "We have to prove to
ourselves and the league we

: can do it."
TRIBUNE SPORTS

FRIDAY, NOVEMBER 7, 2008, PAGE 13



TO says Cowboys
let doubt creep

in weeks ago

m@ FOOTBALL
IRVING, Texas
Associated Press Press

TERRELL OWENS admit-
ed what his Dallas teammates
couldn't a month ago — at least
publicly: The Cowboys were
springing leaks long before Tony
Romo broke his pinkie and their
Super Bowl hopes started ‘sink-
ing.

Owens said doubt crept in as
early as the first month of the
season, when the Cowboys lost
their first game against Wash-
ington then answered with an
unimpressive victory against
then-winless Cincinnati.

After beating the Bengals, the
Cowboys complained about havy-
ing to defend a win and remind-
ed everyone they were 4-1. They
did at least acknowledge that
what they were saying for the

cameras might be different from ~

what they were telling each oth-
er. Owens said it for the cam-

eras Wednesday, during Dallas’ |

bye week.

"T think the loss to'Washing-
ton made.a lot of people raise a
lot of eyebrows," Owens said.
"I think those two games alone

BR



kind of let everybody in this
locker room know you got to
have sort of a self check like,
'OK, we're probably not as good
as we think we are, or probably
not as good as hyped.'"

The Cowboys went 1-2 with-

- out Romo after he injured his

throwing hand during the first
play of overtime in a loss to Ari-
zona. The offense was anemic
in all three games, even setting a
franchise record for fewest yards
in a win when they beat Tampa

BELGIUM’S Standard Liege player Igor De Camargo challenges Spain’s
FC Sevilla player Julien Escude during their UEFA Cup Group C soccer
match in Liege, Belgium, Thursday Nov.6, 2008. °



BELGIUM'S Standard Liege player Dieu Mbokani challenges Spain’s FC -
Sevilla players Julien Escude, center, and David Prieto, during their UEFA
Cup Group C soccer match in Liege, Belgium, Thursday Nov. 6, 2008.

SLL LLL

Bay 13-9.

But Dallas was 1-2 in the last
three games with Romo, too,
always scoring enough points to
win but going through unchar-

- acteristically long stretches of

ineffectiveness on offense while
the defense struggled to make
key stops. i

If they want to latch on to

something positive, the Cowboys .

have this: The Redskins rematch
— on Nov. 16 — could be the
first time on the field together






SPAIN’S FC Sevilla goalie Andres Palop Cervera makes a save
during their UEFA Cup group C soccer match.

for Romo, Owens, recently
acquired receiver Roy Williams,
tight end Jason Witten, running
back Marion Barber and bud-
ding star Felix Jones, a rookie
who backs up Barber and has
emerged as a kickoff return ace.
Witten is trying to play
through a broken rib from the
Tampa Bay game, and Jones is
expected to return after missing
the same amount of time as
Romo with a hamstring injury.
"When you go in with a full

















Dodgers make offer to keep slugger Manny Ramirez |T

@ BASEBALL
’ DANA POINT, Calif.
Associated Press

MANNY RAMIREZ wants
big money, and the Los Angeles
Dodgers are prepared to give it
to him — likely for a far shorter
period than he wants.

General manager Ned Collet-
ti said Wednesday the Dodgers
made an offer to the free-agent
slugger that would give him the
second-highest average salary in
the sport behind Yankees third
baseman Alex Rodriguez.

"If you saw the bid, it's noth-
ing that we're embarrassed by,"
Colletti said at the GM meet-
ings. "Manny was close to that
number, anyway — closer to that
area than the last place he's
been." ;

Rodriguez currently has the
top average at $27.5 million
under the 10-year deal he agreed
to before last season. Mets pitch-
er Johan Santana is second at
$22.9 million under the six-sea-
son deal he agreed to this year.

Ramirez,’ acquired from
Boston on J uly 31, is coming off
a $160 million, eight- year con-
tract he signed with the Red Sox
before the 2001 season. Colletti
didn't make public the length of
the offer.

"We said, 'Think about it for a
while. It's not going to be there
forever,'" Colletti said. "Things
are always subject to change, and

it depends on what else we do, to °

some extent. I've been asked a
few times here if we're going to
wait to see what happens with
this before we do anything else.
But I'm not sure we're going to
have the luxury to do that. If
there's something else that
comes about that we feel we
need to do, and the timeliness
is there to do it, we'll have to do
it."

When the Dodgers were
eliminated from the playoffs last
month, Ramirez expressed a
desire to test the market.

"IT want to see who is the
highest bidder. Gas is up and
so am J," he said then.

Gas prices have gone down
sharply since then.

"T believe that was a prog-
nostication that was of a 24-
hour period," his agent, Scott
Boras, said Wednesday.

Ramirez is 36, and the length
of the contract could become
an issue. Boras wants a lengthy

' contract.

"We have now established
records with a lot of veteran
players, where we're seeing
players perform at very high
levels into their early 40s," he
said.

Boras maintained his view-

point that MLB won't he hurt

by the economic downturn.

"Baseball didn't invest in
derivatives and sub-primes," he
said. "Baseball has long-term
contracts with national and local
TV networks. ... As I've said all
along, the hay is in the barn."

Also Wednesday, the
Dodgers declined Brad Penny's
$9.25 million option, making the
30-year-old right-hander eligi-
ble to become a free agent.



Gene J. Puskar/AP Photo

LOS ANGELES Dodgers' Manny
Ramirez #99 before a game
against the Philadelphia Phillies
in Game 1 of the National
League championship series
Thursday, Oct. 9, 2008, in
Philadelphia.

bee of cards, evérybody in their
starting positions, you go in with
a lot of energy, high expecta-
tions, as we did earlier in the
year," Owens said. "It seems like

one by one, at different posi~

tions, guys have been going
down. It's very unfortunate, but
there are two halves to the sea-
son. '

It's been three-fourths of a
season since Owens had a 100-
yard game. He's averaging less
than four catches and barely 50








KURA

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yards per game this season, but
he hasn't come close to com-
plaining about it since he was
criticized for saying after the
Washington game that he need-
ed to get the ball more. He made
the comments after catching sev-
en passes, taking two handoffs
and having 11 other balls thrown
his way.

"I can sit up here and say I
need the ball more, then you
guys will go back and dissect
how many balls are thrown my

. way so I'm not going to get into

that," Owens said. "I know I am
a playmaker. I've always been
that, and I still consider myself
that. I think it shows when I get
my hands on the ball, things hap-
pen."

Instead of building the best
record in the NFC like they did
last year, the Cowboys find
themselves,in last place in the
NFC East more than halfway
through the season. But Owens
says that hasn't changed the
team's outlook.

"We're still a very confident
group of guys," Owens said." As
a unit, we know why we aren't
winning. We just have to get
those mistakes corrected."

BELGIUM’S Stan-
dard Liege player
Dieu Mboka chal-
lenges Spain’s FC
Sevilla player Julien
Escude .

BELGIUM’S Stan-
dard Liege player
Dieu Mbokani chal-
lenges Spain’s FC -
Sevilla players
Julien Escude, cen-
ter, and David Pri-
eto during their
UEFA Cup Group C
soccer match.



KURA



AN zamawomzroz00



CHEZ WILE
PAGE 14, FRIDAY, NOVEMBER 7, 2008




Browns set to
hand off to
quarterback
Brady Quinn

@ FOOTBALL
CLEVELAND.
Associated Press

ON HIS first play of practice
as Cleveland's starting quar-
terback, Brady Quinn caught a
pass behind the line of scrim-
mage before stepping up and
launching the ball deep.down
field. ;

As he approached the goal
line, wide receiver Braylon
Edwards, whose season has
been defined by.drops, had to
accelerate to get his hands on
the ball. He held onto this one.

"It's warmups, Brady," com-
plained Edwards.

Not anymore. Practice is
over.

It's game time for Quinn.

Following another strange
few days in Cleveland, where
football freakishness has ruled
for years, Quinn, the former
Notre Dame golden boy with
Ohio pedigree: and pop idol
looks, makes his starting

debut Thursday peht as the i
(3-5) host :

struggling Brown:
the Denver Broncos (4-4).

In front of 70,000 fans and
an NFL Network audience,
Quinn will get to live out the
dream he’has had since grow-
ing up in the Columbus area
rooting for the Browns. He'll
face the Broncos, the Browns'

longtime nemesis, who have }

wrecked so many promising
- -Geelang playoff runs in the

“Knock woad, i hope the
guy doesn't fall on his face,"
Browns coach Romeo Cren-
nel said.

Crennel's decision — at least
that's the party line — to
bench Derek Anderson in
favor of Quinn could be a risky
gamble for the Browns, who
thought it was so nice to have
two quality quarterbacks and
now have to hold their breath
that they have at least one.

Anderson's demotion sent
shockwaves through the lock-
er room as teammates won-
dered why he was being sin-
gled out for. the: team's many
woes.

"Nobody saw it coming,"
linebacker Willie McGinest
said. "I don't think it's one per-

son why we're losing. When.

we lose, we lose as a team."
Reaction

A sixth-round draft. pick
who worked his way up
, from No. 3 on the depth
chart all the way to the Pro
Bowl in three. seasons,
Anderson was bliadsided by
Crennel's choice to hand the
ball off to Quinn. Back to
being an understudy, Ander-
son wouldn't bite when
asked if he felt Crennel act-
ed alone in making the deci-
sion.

"I respect Romeo and
what he's done," said
Anderson, who signed a
three-year, $24 million free-
agent deal to stay with
Cleveland, " and that! s as far
as I want to go."

Cleveland's lousy record
isn't all Andersgn's fault.
Edwards has:drppped 14
passes, including a sure
touchdown in last week's
loss to Baltimore.

Edwards took exception
to the idea that he might
have cost Anderson his job.

"Yes, I wish I would have
caught that pass," Edwards
snapped. "Should I have
caught that pass? Yes. Have
I thought about it? Yes. But
if I catch that pass, is D.A.
still the starter? I mean
what kind of question is
. that? If coach feels like that
was the move to make, then
that's the move to make."

Crennel, a former defen-
sive coordinator, rebuffed
the notion that he suc-
cumbed to public pressure
in swapping QBs. But he
acknowledged hearing the
chants for Quinn and the
boos which rained down on
Anderson after he threw a
late interception in Sunday's
‘loss to Baltimore










SERENA WILLIAMS of the U.S. reacts after missing a point against her sister, Venus Williams dung the Sony
Ericsson Championships.

Maneesh Bakshi/AP Photo

Chris O'Meara/AP Photo

u. S. Vents Williams celebrates after she beats her sister
Serena Williams 5-7, 6-1, 6-0 during the third day of
Sony Ericsson WTA Tennis ehamplenstipe in Doha, Qatar,
Thursday Nov. 6, 2008.

TRIBUNE SPORTS



?

24

7illiams beats Serena

at WTA Championships _

SERBIA'S Jelena Jankovic Russia's returns the ball to Svetlana Kuznetsova, during the third 78 of

the Sony Ericsson WTA Tennis Championship.

' TAMPA BAY Rays first baseman Carlos Pena flips a ball during

an American League championship series baseball practice
Thursday, Oct. 9, 2008, in St. Petersburg, Fla. The Boston Red
Sox take on the Tampa Bay Rays in Game 1 on Friday.



MTENNIS - ~~.
DOHA, Qatar 4...
Associated Press i Fe

“VENUS WILLIAMS defeat-» “in

ed her sister 5-7, 6-1, 6-0 Thurs-
day to reach the semifinals of
the WTA Tour's season-ending

, ,Sony Ericsson Championships,
‘amatch Serena Williams called _

her worst of the year.

Serena started to unravel ear-
ly in the second set.

"] just couldn't keep a ball in

play," she said. ENerhine was —

off."

Venus Williams won on her .

fifth match pojnt, and is 3-0 in
round-robin play of a tourna-
ment that features the top eight
players.
dropped to 1-1, but can still
advance to the semifinals if she

Serena Williams °

defeats Elena Dementieva on

Friday.

The sisters are 9-9 in career
matchups. Serena defeated
Venus in the U.S. Open quar-
terfinals en route to the title this
year, and Venus won their title
match at Wimbledon.

Venus stayed composed
throughout the match, using her
powerful serve to frustrate Ser-
ena, but refrained from cele-
brating after winning.

"It wasn't the happiest
match," Venus said. "The best
part is that she still has an
opportunity to qualify."

Both sisters played their
trademark power tennis in the
first set before the rallies turned

SAAN lo FP=éwwmilWWNWDy°0 i !t Rt 7 nn

shorter in the second, with Ser--
ena growing increasingly frus-
trafed by.her EXLOrs. %,
pny arnéd two & Set points
e’second when Serena
SOGe ected, and converted
the second with a crosscourt
backhand that passed her
younger sister at the: net.
"IT didn't even look like a

~“top-éight player today. Maybe

top 600, in the juniors," said
Serena, who has won nine
majors and is making her fifth
appearance at the season-end-’
ing championships. She won
the event in 2001. :

-Earlier Thursday, top-
ranked Jelena Jankovic defeat-
ed Svetlana Kuznetsova 7-6
(6), 6-4 to secure a semifinal
spot. .

The ‘seventh-ranked
Kuznetsova saved two set
points in the tiebreaker before
hitting a forehand into the net
to drop the first set. Jankovic
called for a trainer early in the
second set for a back injury
before recovering to win her
second round-robin match.

"T hope I will be OK" for
the semifinals, Jankovic said.

Kuznetsova has one more
round-robin match to play, but
can't advance because she's
lost twice.

‘Eight players are divided
into two groups, with the top.
two in each group advancing
to the elimination stage.

Dinara Safina played
Dementieva later Thursday.



Pena wins first Gold Glove

BOXING
NEW YORK
Associated Press

CARLOS PENA grabbed
attention for all those balls he
hit. Now the Tampa Bay first
baseman is getting noticed for
the ones he-caught.

The Rays star raised his pro-
file Thursday when he won the
Gold Glove, one of four new-
comers on the AL team.

Boston second baseman
Dustin Pedroia, Texas short-
stop Michael Young and Min-
nesota catcher Joe Mauer also
were first-time winners for
fielding excellence.

The outfield was a repeat
from last season: Los Angeles'
Torii Hunter and Seattle's Ichi-
ro Suzuki each won for the
eighth straight year and Cleve-
land's Grady Sizemore earned
his second award.

New York Yankees pitcher
Mike Mussina, coming off his
first 20-win season, added to
his accolades with his seventh

Gold Glove, Seattle third base-
man Adrian Beltre won for the
second straight year.

Pena bounced around the
majors for several seasons
before joining Tampa Bay in
2007, and quickly, got a regu-
lar spot by hitting 46 home
runs.

Pena starred with the bat this
year, too, with 31 homers and
102 RBIs in helping lead the
surprising Rays to their first
playoff spot. He also sparkled
with the glove, making only
two errors as Tampa Bay

reached the World Series,
where it lost to Philadelphia.

Selection

The 30-year-old Pena has
shown improvement in the
field, cutting down from 13
errors with Detroit in 2003. He
made eight last year with the
Rays.

Rawlings has presented Gold
Gloves since 1957. Managers
and coaches pick players in

\

their own leagues near the end
of the regular season, and can't
vote for someone on their
team.

The Gold Gloves often.raise
the ire of many. baseball fans.
Critics claim the best fielders
are overlooked in favor of
more popular players, and fur-
ther insist that better hitters
get a break in the voting.

Hunter and Sizemore earne
$100,000 bonuses in their con-
tracts for winning Gold Gloves.
Beltre and Suzuki got:$50,000
each and Pena, Mauer:and
Young won $25,000 apiece.
Mussina and Pedroia did not
have Gold Glove clauses.

The NL Gold Gloves were
announced Wednesday. Win-
ners were pitcher Greg Mad-
dux, catcher Yadier Molina,
first baseman Adrian Gonza-
lez, second baseman Brandon
Phillips, shortstop Jimmy
Rollins, third baseman David
Wright and outfielders Nate
McLouth, Carlos Beltran and
Shane Victorino.
THE TRIBUNE | FRIDAY, NOVEMBER 7, 2008, PAGE 15

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THE TRIBUNE



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COMMANDER STEPHEN RUSSELL, director of the National-Emer-
gency Management Agency, accepted $27,000 worth of building
materials from operators of the New South Ocean Beach Hotel and
Pinder Enterprises for residents of Mathew Town, Inagua, whose
homes were.damaged by Hurricane Ike.

Commander Russell said the materials would be used to com-
plete the reconstruction phase by the end of November. The materi-
als included 200 sheets of plywood, 500 bundles of shingles, nails,
felt and paint. Additional $50,000 worth of materials were pledged,
to be presented at a later.date..Pictured from left are Commander _
Stephen Russell, NEMA; Burton Rodgers, project coordinator,
South Ocean Beach Hotel; Adam Darville, general manager of Pin- .
der Enterprises, and Michelle Gardiner, finance officer, NEMA:



COMMANDER STEPHEN.RUSSELL, director of the National Emer-
gency Management Agency, accepted a cheque donation of

$10,000 from Cable Bahamas to the National Disaster Relief Fund
for residents in Inagua impacted by Hurricane Ike. Commander:
Russell said the "timing is perfect,” as NEMA is in the last stage of *
rebuilding homes and other properties on the island. Dr Keith Wis-.
dom, director of Public Affairs at Cable Bahamas, said funds were
derived from the Cable Bahamas Cares Foundation and that the
company intends to support efforts in the aftermath of any disaster. -
impacting the country. Pictured are Michelle Gardiner, finance offi-
cer, NEMA; Anthony Butler, president and chief operations officer,
Cable Bahamas, and Commander Stephen Russell.

Putin’s return? Russian»
parliament may allow it

@ MOSCOW
RUSSIA’S constitution will

‘be amended by year’s end to

extend the presidential term to
six years, lawmakers promised
Thursday —a move that could:
pave the way for Vladimir
Putin’s return to the Kremlin,
according to Associated Press.
It would be the first change
to the Russian constitution
since its adoption in 1993. A
six-year term could mean 12
more years as president for
Putin — the current prime min-
ister — who has not ruled out
getting his old job back.
President Dmitry Medvedev,
a Putin protege, had suggested
raising the term from four years
to six Wednesday in his first
state of the nation address.
The respected business dai-
ly Vedomosti quoted an
unnamed Kremlin official as
saying Medvedev may even
step down as early as next year
to get Putin back at the helm.
“Under this scenario,
Medvedev could resign early,

citing changes to the constitu-
tion, and then presidential elec-
tions could take place i: 2009,”
the paper said. i

Spokesmen for Putin and
Medvedev could not be reached
Thursday. Vedomosti reported
that Putin’s spokesman denied
that the term extension was
designed was linked to Putin’s
return.

Work on the amendments
has already begun in the State
Duma, parliament’s lower
house, speaker Boris Gryzlov
said Thursday.

As Russia’s president for
eight years, Patin had declined
to amend the constitution to
allow himself a third consecu-
tive term or to extend the
length of his term. Vedomosti

said this unpopular task may

have been given to Medvedev,
a former law professor who
professes deep respect for the
law.

Regardless of his title, Putin
has continued to wield signifi-
cant power in Russia since leav-
ing the Kremlin in May.
T HE



Exuma
casino

Oy role
Lescol

a eed
&

@ By NEIL HARTNELL
Tribune Business Editor



Pinnacle Entertainment,
the US gaming giant, yester-
day said it had taken a one-
off $4.3 million impairment
charge related to its casino at
Exuma’s Four Seasons
Emerald Bay Resort, with a
sale of the troubled opera-
tion appearing increasingly
unlikely.

A Pinnacle spokesman
yesterday told Tribune. Busi-
ness that the company still
planned to close The Casino
at Emerald Bay in early
2009, placing the facility’s . -
long-term future in jeopardy.

“We plan to close the
property in early 2009,” the

. spokesman said. .

When asked whether Pin-
nacle he 1 made any progress
in finding a buyer for the
casino, a development that
would ensure its continued
existence, she replied: “We
don’t really have anything .
new on that front.” ©

The Pinnacle representa-
tive told Tribune Business
that The Casino at Emerald

Bay’s status had changed lit- |

. tle over the last two months
since staffing levels were
downsized in accordance
with the company’s agree-
ment with the Department
of Labour.

“We have closed down the’
table games. It’s been scaled
back and its machines only,”
the spokesman said.

Asked precisely when Pin-
nacle would look to close the
Exuma casino, she said: “If I
were to guess, I would say
early [in 2009], just past the
New Year.”

Pinna e aanouiice its,
decision to either sell or

- close The Casino at Emerald

Bay in July 2008.

The boutique property,
smaller than most casinos,
was described as “distant
from Pinnacle’s other opera-
tions” with its success heavi-
ly dependent on the Four
Seasons resort’s perfor-..
mance.

_ The resort’s parent compa-.

ny, Emerald Bay Resort

’ Holdings, is still in receiver-
ship, with attempts over the
past 15 months by the
receivers, PricewaterhouseC-
oopers (PwC), having ulti-
mately proved fruitless.

Pinnacle is now classifying

The Casino at Emerald Bay

_as a discontinued operation,

. resulting in it taking a $4.3
million charge associated
with its fixed assets.

For the three months end-
ed on September 30, 2008,
Pinnacle suffered a $3.561
. million loss from its discon-
tinued operations, which
include the Bahamas-based
casino and another opera-
tion.

- This compared to a
$816,000 loss in the year-
before period.

Earlier this year, Pinnacle
said the net book value of its
casino-related assets in Exu-
ma was about $3.4 million.

It added that for the three
months ended June 30, 2008,
and 2007, the adjusted oper-
ating loss sustained by The
Casino at Emerald Bay was
$746,000 and $452,000,
respectively, and for the six
months ended June 30, 2008
and 2007, the operating loss
was $1.2 million and
$936,000, respectively.

For the 12 months ended
December 31, 2007, The
Casino at Emerald Bay suf-
fered a $1.6 million operat-
ing loss.

TRIBUNE:

FRIDAY, NOVEMBER 7,

2008



FAMILY G GUA RDIAN

Su RANCE COMPANY LIMITED



‘South Ocean control | rises planned to

* Developer denies main financial backer’s eam that
it yesterday removed him as general paras’ for

$867m project

* Hedge fund invested almost $100m, but now trying
to allegedly squeeze partner out

@ By NEIL HARTNELL
Tribune Business Editor

A furious battle has broken
out over who controls the
$867 million South Ocean
redevelopment, with the
developer alleging that his
main financial backer is
attempting to use its position

as both shareholder and debt .

financier to squeeze him out
and take over the project.
RHS Ventures, RHS Hold-
ings (Bahamas) and RHS
Development, the companies
controlled by South Ocean
developer Roger Stein, have
filed a demand for arbitration

in New York with the Ameri- .

can Arbitration Association,
alleging that the investment
vehicle employed by a major
Connecticut-based hedge fund
“has embarked on a course of
conduct designed to enable it
to use its status as a creditor of
the [development partnership]

to gain leverage in order to:

force RHS Ventures to sur-
render its authority as general
partner”.

That appeared to have hap*

pened last night, with a
spokesman for Plainfield

~ Asset Management, the hedge

fund that controls the Seaside
Heights investment vehicle,
which has invested almost

$100 million in the South —

BIC chairman confident

over buyer interest —
* Bluewater talks ‘practically completed’.
* Value and technical evaluation of BIC to

‘By CARA BRENNEN-

BETHEL
Tribune Business Reporter

The delay in privatatising the
Bahamas Telecommunications
Company (BTC) has negatively
impacted this nation’s economic
progress, its executive chairman
telling Tribune Business that if

‘the process had been completed

sooner it would have resolved a
number of key private sector
requirements.

Speaking with Tribune. Busi-

ness yesterday morning, former

Central Bank governor Julian
Francis.said the more than 10-
year wait for BTC to be priva-

. tised has had a major impact on

the Bahamians economy, espe-
cially when it came to telecoms
costs, Service and business com-
petitiveness.

“T believe that had we been.

able to privatise BTC in 2001, we
would have resolved a number of
requirements for the economy in
our business sector,” Mr Francis
explained.

He said that for the last eight
years, BTC and the Government
had imposed on the economy an
inefficient telecommunications
service, and it difficult-to quanti-
fy how much this had cost
Bahamian business.

Now, Mr Francis said BTC’s

‘privatisation was expected to be

near completion by year-end.
He acknowledged that the

| global economic woes, especially

the liquidity/credit crunch, may
be a factor in securing a bidder
and good offer for the 51 per cent

’ BTC stake the government is sell-

ing, given the issues some groups
may have in accessing on
financing.

be complted in two to three weeks

However, Mr Francis said the
BTC privatisation committee, of
which he is deputy chairman,
remains confident the process:

' will be completed.

“We believe that based on the
kind of contact we have had with
parties outside the Bahamas, we
think that the interest is really
quite good, and we are going to
attract a sufficient number of

* major players who would love to

own BTC,” the former Central

‘SEE page 2B





































for a better life

Ocean development, alleging
that it-had removed RHS

Ventures as general partner. \

However, that was vehement-
ly denied by Mr Stein.

The Plainfield spokesman
told Tribune Business: “As a
matter of policy, Seaside does
not comment on ongoitig liti-
gation or arbitration.

. “A notice to remove RHS -

Ventures as general partner
was issued on October 20,
2008, and as of November.7,
2008, RHS is no longer the

general partner and has been ©

replaced by an affiliate of Sea-
SEE page 4B

cover debt costs

a m By NEIL HARTNELL
: Tribune Business Editor: |

The Nassau Airport Development Company (NAD) is plan-
ning to raise the user fee airline passengers are charged at various

' stages during the airport’s $410 million reconstruction, as a way to

meet debt servicing costs, with the full-build-out’s progress depend-
ing on how deep the economic downturn goes.

A document on the airport’s redevelopment financing, which has
been seen by Tribune Business, said ‘the user facility fee for inter-
national passengers, currently some $15, was projected to rise to $20
per person by the end of the 2009 first quarter.

It was then estimated to increase at the completion of each stage

_ in the Lynden Pindling International Airport’s (LPIA) redevel-

opment. Once the new US departure terminal is completed, sched-
uled for August 2010, the passenger user facility fee is projected to
increase to $25 per person.

After the second stage completion, which is scheduled to be the
new US and international arrivals terminal in December-2011, the
passenger user facility fee is projected to be $32.50 per person, and
when the final stage - the international/domestic departures and
domestic arrivals is completed by year-end 2012 - the fee is | pro-”

- SEE page 3B

OECD ‘more worrisome’

for Bahamas than Obama

SPAY Sy

a By NEIL HARTNELL _
Tribune Business Editor

The revival of the OECD’s ‘harmful
tax practices’ initiative is “much more
worrisome” for the Bahamas financial

' services industry than an Obama presi- *
dency, a US tax expert said yesterday,
with its best defence being to play on
the “discriminatory” nature of the plan
with the new White House incumbent.

Dr Dan Mitchell, a senior fellow with
Washington-based economic group, the
Cato Institute, who was in the Bahamas
to address a Nassau Institute seminar,

. acknowledged that Mr Obama’s elec-

SEE page 2B |

- CORPORATE CENTRE: CORNER OF VILLAGE &S

«

‘ip

Sand Oran :

* US tax expert Says OECD, EU and
Sarkozy initiative ‘like horror movie
part two where Jason comes back
to life
* Bahamas urged not to ‘feel
suicidal’ on Obama Bill, as TIEA
- should ‘de-fang’ it
* Government urged to emphasise
discriminatory nature of OECD
initiative to new US president






FG FINANCIAL

PENSIONS & INVESTMENTS
PAGE 2B, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE



tonisio D Aquiliat



«Tribune Business Reporter



This year’s Crime Prevention Seminar,
sponsored by the Bahamas Chamber of ©
Commerce and the Royal Bahamas Police
Force, will focus on ways business owners
can protect their companies against crime
from employees and customers, which costs
them between $5-10 million per year.

Such theft, said Chamber president
Dionisio D’Aguliar, was far more costly
than the random armed robberies that grab
media headlines. While it was hard to ful-

ly quantify the impact, it runs in the mil-

lions.

- president said.

“Internal theft, whether it is theft by
employees, or theft by customers, accounts
for an estimated loss of between $5-10
million per year for Bahamian-based busi-
nesses, and has inflicted significant damage
on many business persons,” the Chamber

He said one of the ‘event’s objectives
was to focus on, and develop effective
strategies, for businesses to arrest this prob-
lem, whether it be through the use of sur-
veillance cameras, internal intelligence net-

said.

works, tracking devices, inventory man-
agement systems, high tech cash registers
and scanning devices.

Another concern for the Chamber pres-
ident was the lack of early recourse
employers have in the event that they
become victums

“A lot of businesses are fed up with the
courts and the length of time it takes to
deal with a matter, so they often just don’t

’ want to report the matter,” Mr D’ Aguilar

Commissioner of Police, Reginald Fer-
guson, noted Mr D’Aguilar’s concerns, and

crime.

Theft costs business $5-$10m per annum

m@ By CARA BRENNEN-BETHEL said the police try to solve cases and send
them to the judiciary as soon as possible.
He said the police were always pleased
to partner with the business community,
particularly before the Christmas season,

when there tends to be an increase in

_ Scheduled speakers for the one aay)
event, set for November 13 at the Police
Conference Centre include, Craig Cates,
Douglas Hanna, Hulan Hanna, Raymond

Gibson and Tom Simpson, the president of

the National Association for Information
Destruction.



BIC chairman confident over buyer interest | OECD ‘more worrisome’
for Bahamas than Obama

FROM page one

Bank governor told Tribune Busi-
ness.

As it relates to Bluewater
Communications Holdings, the

former lead bidder that was given .

- an exclusivity period in which to
negotiate BTC’s purchase by the
former PLP administration, Mr
Francis said there had been fairly
intensive negotiations between
this administration and Bluewater
which were now “ practically
completed”.
Tribune Business revealed sev-
_ eral weeks ago that the privati-
sation committee had terminat-
ed Bluewater’s exclusivity peri-

_ od, and that the matter could dad

up in arbitration in the UK.

_ It is believed that the Govern-
ment and the committee want to
open the privatisation process up
to other buyers, to see if better
offers may be out there.

Mr Francis said yesterday that

-the valuation process for BTC,

which is being conducted by
KPMG, is not quite complete. “It
is very important, some of the
technical evaluation that has been
necessary, in order to be absolute-
ly sure that you’re taking into

account any issues that exist today —

that would impact wie price,” he
explained.

Mr Francis said the Syaliation

will include the technical and

Inflatable Seat
Giveaway has come!



2 ea, alas

financial aspects of BTC, as well

as the contractual arrangements

they have with overseas compa-

nies that have to be evaluated:
He said the exercise should be

' finished in about two to three

weeks: _

Mr Francis added: “A very
important point is this; the fact
that we.are going to introduce
competition with two new
licensees in the mobile sector. and
that process begins one year after
the sale. That means two new
entities wanting to establish their
own BTC effectively. Where do

you think that they are going to”

get their people from?
“If Iam BTC I am more con-
cerned now about keeping my

enna

people, because I know that in'a
year’s time the minute you open
the gate, they will apply for a
licens. Once they get it, they will
look at building the infrastruc-
ture that they need, and then they
need to hire people - that would
happen within six months of them
opening up.

“So you will have fairly fierce
demand for people who are
skilled in telecommunications,
and this is something that the new
owner of BTC will have ‘to be
really careful about - not to lose
good people.”

Mr Francis was the guest
speaker at the Sunrise Rotary
Club at the British Colonial
Hilton yesterday.

atthe dé sts aere)
i tere etigems) maze) (tire (|
- with Buca ead Poet

f HUGGIES diapers
cies



FROM page one

tion success was “not good news”
given his intentions to target
international financial centres
such as the Bahamas.

But while this nation was on
the list of so-called tax havens
sponsored by the ‘Stop Tax
Haven Abuse Act’ that Mr Oba-
ma had sponsored as a Senator,

Dr Mitchell said: “At least for the |

Bahamas, there’s some reason not
to be suicidal.”

He explained that this nation’s
decision to sign a Tax Informa-
tion Exchange Agreement
(TIEA) with the US in 2001
would act as a defence to the
‘Stop Tax Haven Abuse Act’, and
could lead to it being taken off
the legislation’s ‘blacklist’ as it
made its way through Congress
because the Bahamas was already
providing tax information in spe-
cific cases.

“The Bahamas is on the ‘black-
list’ of that piece of legislation,”
Dr Mitchell said. “Almost cer-
tainly, an Obama victory means
the odds of that piece of legisla-
tion going through are greatly
enhanced.

“The Bahamas knuckled under
a year ago to a TIEA with the
US.5.5 The Bahamas ‘made a
political calculation that it had to
appease the 800-pound gorilla of

the world economy.”

With the TIEA defence and
prospects of being removed from
the ‘Stop Tax Haven Abuse Act’

‘blacklist’ at least providing some -

reason for optimism, Dr Mitchell
added: “The much more worri-
some thing for the Bahamas is
not the ‘Stop Tax Haven Abuse
Act’. The TIEA should de-fang
that to some extent.

' “Rven if there was no turmoil
in financial markets, the Obama
victory will give the OECD a new
lease of life...... The OECD is
going to be much more aggres-

sive and is talking-about putting

together a new ‘blacklist’. Sign-
ing the commitment letters i is no
longer good enough.”

The Bahamas in 2002 agreed
to commit to the OECD’s
demands for greater transparency
and a willingness to enter tax

information exchange agree-.

ments, provided there was a ‘lev-

‘el playing field’, where all OECD

members and competitors agreed
to implement the same standards
at the same time.

Yet the OECD now seemed
prepared to sweep the ‘level play-
iug field’ condition aside,-Dr

_ Mitchell said, on the grounds that

“we don’t care. You're little, and

we can bully you.-If you don’t’

sign TIEAs and surrender your
fiscal sovereignty, you’re on the
‘blacklist’”.

_ The Bush administration had
for eight years ensured the





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Talk about pure bliss. Presenting the all-new CR-V. It’s something new to crave.

() HONDA.





OECD ‘harmful tax’ agenda had
made no progress, but the Paris-
based forum would now move
forward whether the US under
Obama was “an enthusiastic par-
ticipant or go ahead if you want
participant”. ‘
And the third front ranged
against the Bahamas and other
international financial centres was

‘the demands from the likes of

French president Nikolas Sarkozy
for a new global system of finan-
cial regulation. .

Dr Mitchell said the French
leader and others were using the
global financial crisis to generate
support from other countries,
claiming he had evidence that ©
international financial centres
were responsible for the current
turmoil. This was even though
none existed. .

“Part.of that i is going to be very
disadvantageous for the
Bahamas,” Dr Mitchell said of
Mr Sarkozy’s plans. He added
that the French leader was dis-
guising his intentions behind the
word ‘transparency’, using it to
“totally eliminate financial priva-
cy” and uncover beneficial own-
ership information.

“Sarkozy is using one word that
sounds good to people, but means
something totally different,” Dr
Mitchell said, with many believing
the French leader was calling for
transparency in scormpany
accounts.

‘The EU is also moving for-
ward,” Dr Mitchell said of the
group’s savings tax directive. “It’s
not just their members, their

_ dependent territories, the other

five nations on their list that
they’re going after. Now they’re
going after Singapore, Hong
Kong, the Bahamas and Panama.

“It’s sort of like a horror movie
part two, where Jason’ comes back
to life.”

When it came to international
financial centres defending their
positions, Dr Mitchell said-in the
first instance that it would all
revolve around the ability of
Switzerland, Luxembourg and
Singapore to “hold firm” on the
‘level playing field’ condition.

While confident they would be
able to do this, Dr Mitchell said
there was more uncertainty over .
whether the Bahamas and small-
er nations would be-able to do
likewise, especially when the likes
of the US, UK and Europe exert-
ed pressure and threatened
‘blacklisting’.

He added that another key,
with the OECD, EU Savings Tax
Directive Phase II and Sarkozy
initiative all going on at the samé
time, was “to what extent will
investors be scared away from the
Bahamas.

“To what extent to those inter-
national investors decide, one
year from now, that the Bahamas
is too risky. That is the weapon
the enemies of the Bahamas
have.”

Apart from advising the
Bahamas and other international
financial centres to link-up to
defend themselves, Dr Mitchell
added that the ‘discriminatory’
nature of the OECD initiative
should be raised with the Obama
administration, as this was a tactic
that should play well.

“Tt will all be done in a dis-
criminatory way, as Switzerland,
Luxembourg and Singapore will
not face that pressure,” Dr
Mitchell explained.

“It’s important for the Bahami-
an government to reach out to
the Obama administration, and
along the lines that a lot of what
the OECD is doing is discrimi-
natory.”

Dr Mitchell last night pointed
out that “tax havens play a critical
role in being places for interna-
tional commerce, international
financing. Tax neutrality is very
critical when doing these multi-
jurisdictional activities. They are
critieal for international flows

“The academic evidence is that
tax havens are an enormous plus

for the global economy.”

INSIGHT

For the stories

behind the news,
read Insight
on Mondays
THE TRIBUNE

FRIDAY, NOVEMBER 7, 2008, PAGE 3B



Airport user fee rises are _ | Viewers impacted by digital
planned to cover debt costs TV conversion less than 2%

FROM page 1B

jected as $40 per person.

NAD has allowed for flexi-
bility when it comes to the pas-
senger user facility fee, with the
sums charged being less if the
economic climate demands.

Some are likely to object to
the projected fee increases, but
it is critical to remember that
LPIA’s financial problems when
it was in the Airport Authority’s
management stemmed largely
from the fact that revenues had
not kept pace with maintenance
demands, the result. being that
the facility’s up-keep and main-
tenance deteriorated marked-

ly. As the NAD document said: -
“Passengers at the airport have,

shown little resistance to the
higher fees of $22 (passenger

_ facility charge of $15 and secu-
rity fees uf $7, resulting in an
increase of 873 per cent) that
went into effect on July 1, 2007,
at the airport.

“To the contrary, the airport
experienced passenger growth
of 6.1 per cent in the quarter
ending March.2008. Airport
charges are a small proportion
of either air travél cost or of
total tourism costs.”

However, passenger traffic
through LPIA was 6.3 per cent
lower during the 2008. third
quarter that ended on Septem-
ber 30, 2008, something that was
attributed to the economic slow-
down and passage of Hurri-
canes Ike and Hanna.

The Airport Authority Act
amendment earlier this year
was designed to allow the
Authority to amend fees with-
out first requiring government
consent. Now, NAD and the



Airport Authority are working
to amend their Transfer Agree-
ment to reflect this, with the

current proposals involving -

NAD disclosing proposed rate
increases at least 180 days prior
to them coming into effect.

There appears to be no short-
age of revenue streams avail-
able to NAD when it comes to
paying for the airport’s rede-
velopment, with current aero-
nautical fees said to be 36 per
cent below the Caribbean
regiOnal average.

Aeronautical revenues, which
include landing fees, aircraft
parking fees, terminal fees, and

fees for the use of aircraft ©

bridges, account for 76 per cent
of NAD’s total income streams.
Non-aeronautical revenues,
which come from fuel royalties,
vehicle parking, concessions and
advertising, account for the
remaining, 24 per cent.

For the year ended June 30,
2008, the passenger facility fee

generated 82.4 per cent of

NAD’s revenues, or some
$21.554 million out of $26.183
million. Of the rest, landing fees
produced the next largest

- chunk, at 12.9 per cent or $3.381

million.

Non-aeronautical fees pro-
duced $8.445 million in rev-
enues for the 12 months to June
30, 2008, giving NAD a total of
more than $34.5 million in rev-
enues for that year. :

“NAD’s.rate setting strategy

will be to raise rates as neces-

sary at the completion of each ©

stage of the [construction] to
meet projected operating and
capital expenditures, meet
scheduled debt service, fund the
debt service reserve account,

~ comply with financial covenants

~ WAREHOUSE FOR RENT
SIUM

and maintain an investment
grade rating on its senior debt
facilities,” the NAD document
said. “NAD’s rate setting strat-
egy also considers rates at other
regional airports, and we intend
to maintain LPIA’s competi-
tiveness in the region.”

NAD is also planning to
restructure the rental agree-

-ments for existing food and bev-

erage retailers at the airport
when their current leases end,
including “an upside revenue
sharing” or participation com-
ponent as well as a flat monthly

_ fee. The LPIA reconstruction

schedule has also taken into
account the deteriorating eco-
nomic environment, the financ-
ing document indicating that
construction on the US/inter-
national arrivals and interna-
tional/domestic departures and
domestic arrivals terminal build-
ings might be delayed or: post-
poned if the economic down-
turn proves much more pro-
longed than feared. .

NAD is seeking $310 million
in financing for the first stage
of LPIA’s redevelopment, con-
sisting of a $90 million senior
secured bond issue (some $20
million of which will be in
Bahamian dollars); a $140 mil-
lion revolving credit facility; and
secondary $80 million debt facil-
ity.

The proceeds, apart from re-
financing an $8u0 million, sev-

en-year term loan issued in.

2007, will finance some $196.1
million in construction costs.
The NAD offering. is a pri-
vate placement targeted ai spe-
cific, sophisticated investors
such as institutions and high net
worth institutions. Members of
the public should not apply.

14’800 sq.ft., 22’ Floor to ceiling, .
Modern, Complete with Admin Offices, Secure,
Fenced in, With all utilities. Ample Parking in Front.
Additional Space at Rear, Perfect for Storage,

Including containers,

On cleared leveled land, to rear boundary.

IDEAL FOR CONTRACTOR

: sR
SES eT

THE WESTIN |

GRAND BAHAMA ISLAND
OUR LUCAYA

Resort



| Sheraton
Grand Bahama Island

OUR LUGCAYA
RESORT

EXCELLENT ST kee NTN EXISTS FOR
DIRECTOR OF FOOD & BEVERAGE

Large hotel operator seeks an executive level e
beverage outlets and lead its team. The success

xpert to head its multiple food and
ful candidate will be responsible

for the overall organization, sales and profitability of the Food and Beverage department,
including its 13 restaurants and bars, room service, kitchen, stewarding and conventions

and catering departments.

The successful candidate must possess the following minimum requirements:
* Previous experience as a Food and Beverage Director with 5-7 years
comprehensive experience in Food and Beverage Management inclusive of
the above areas with a proven record of accomplishments.
Strong product knowledge of Food and Beverage including current trends in the

business.

Poa SmINRMOKCHUNA AMATI IN DMR ere Oke onteEMO RaVeI IAMS HOOF!
promotions and activities.
Experience in menu engineering, inclusive of food, beverage and wine.

Strong leadership skills with the ability to select, train and develop employees;
maintaining a positive and productive environment.
Excellent guest and employee relation skills.
Excellent communication skills (oral and written). Fluency in English is necessary.
Strong organizational abilities.
The ability to proactively and successfully manage the financial aspects of the Food
and Beverage operation including budget preparation, revenue enhancement,

and Food and Beverage cost control and productivity.
A Bachelor’s Degree in Hotel Management will be an asset.

Technological proficiency of Microsoft Word and Excel, and Micros systems.

We offer an excellent benefit package and competitive compensation. For full
consideration, all interested applicants should forward a copy of their résumé no
later than November 21st, 2008 to the attention of Director of Human
Resources at www.ourlucayjobs @starwoodhotels.com or fax to (242) 350-5065.









@ By CARA BRENNEN-BETHEL
Tribune Business Reporter

Less than 2 per cent of Bahamian television
viewers will need to get a set-top box for when
ZNS television broadcast signals go digital
next February.

’ Michael Moss, chairman of the Broadcasting
Corporation of the Bahamas, said that “broad-
ly speaking, whereas US television broadcast
signals will go digital next February 2009, and
while much of ZNS’ digital conversion activity,
including work flow processes, production
activities, etc. is underway and scheduled for

completion during 2009, its broadcast signal is .

not targeted to go digital until sometime in
2010”.

Mr Moss said completion of the in-house
conversion processes will enhance ZNS' sig-
nal presentation, but will have no adverse
impact on those presently receiving ZNS'
broadcast signal.

“However, once the broadcast signal goes

digital, the handful of individuals, estimated

to be about 2 per cent, presently receiving
broadcast signal or ‘free to air’ sets ( those
with no cable connection,) will require a set top
box in order to continue enjoying signal recep-
tion by that method,” he said. Cable subscribers
will experience no adverse impact.

r Moss explained that worldwide, most
broadcasters have targeted 2012 for digital con-
version of their television broadcast signals. °

serving All Your Shipping Needs

USMC SAT T iT FMam rT aL Dt ey] em ed 1 cee] Vitale (zs)

¢ Full and Less Than Container Loads
¢ Refrigerated/Frozen Goods

¢ Vehicles

¢ Construction Equipment & Materials « ~
¢ Household Goods

¢ Specialized Equipment
¢ Scheduled & Reliable

Visit us at www.crowley.com.

Crowley Bahamas Ltd.
Arawak Cay

Nassau, Bahamas

TEL: (242) 325-8980/81/82/83
Fax: (242) 325-8952


















ee aa

People Who Knowâ„¢

2 a
\ d





saniaderannannnnsnnnnrnagnraAnnnibithMatraanAnshninAKnnntAthentAntARARAnsnAnashAnAnQanAAAQRAAOAAAnOnssAAAehiAine sAAARAAIRAAAAnADAQAARARAAnAnAAASAAQAnnannnnnnant

| COMMONWEALTH OF THE BAHAMAS

Bararenennnnnnnnnnnnnnnnnnnnnnnnnnnan

IN THE SUPREME COURT

Aver ivin na nu ARRAN AANA



Common Law and Equity Division

3.

BETWEEN

i



MONTE CARLO IN PARADISE
CONDOMINIUM

Plaintiff

AND

CARIBBEAN BUILDERS & CONSTRUCTION
COMPANY LIMITED

Defendant

ORDER.

Dated the 21st day of November, 2006.

This action having been tried before the Honourable Mr. Justice Faizool Mohammed |
without a jury at the Supreme Court of The Bahamas, Bank Lane and the said
Honourable Mr. Justice Faizool Mohammed having on the 17th day of November,
2006 ordered that the judgement as hereinafter provided be entered for the Plaintiff

as follows:

(i) It is adjudged that the Defendant do pay the Plaintiff $6,819.00 which amount
represents damages and aggravated damages; and
(ii) The costs of action to be taxed if not agreed.

Dated the 21st day of November, A. D., 2006.

REGISTRAR

FERREIRA & COMPANY

Chambers
Kemp Building

#39 East Street North

Nassau, Bahamas

Attorneys for the Plaintiff

PENAL NOTICE

AND TAKE NOTICE that unless you the within-named, CARIBBEAN BUILDERS
& CONSTRUCTION COMPANY LIMITED, obey the directions contained in this
Order, you will be guilty of contempt of Court and will be liable to be committed to

prison.
PAGE 4B, FRIDAY, NOVEMBER 7, 2008

THE TRIBUNE





Investors battle for | Colsalmperial
South Ocean control

FROM page 1B

side.

“We are confident that the
partnership’s investment in
the Bahamas will be an excel-
lent investment over time.”

Yet Mr Stein hit back,

“telling Tribune Business: “I
am informed by counsel that
Plainfield's effort to take uni-
lateral control of the develop-
(ment opportunity I have cre-
ated has no legal effect,

“My lawyers have com-
menced an arbitration pro-

ceeding as a result of Plain-
field's numerous breaches of
its obligations. We are confi-
dent we will prevail.

“As always, I continue to be
actively committed to the suc-
cess of the development. It
would be inappropriate for me
to comment further at this

, time."

The arbitration demand, a
copy of which has been
obtained by Tribune Business,
alleged that Seaside Heights,
the Plainfield investment vehi-

cle, had breached contracts.

and duties related to the rede-
velopment of the South Ocean
resort’s 375-acre site.

To develop the property,
the complaint alleged that a
partnership agreement was
signed on August 6, 2007, in
which RHS Ventures was the

general partner and RHS

Holdings a limited partner.
Yet Seaside, which was also a
partner, had extensive pow-
ers under the partnership
agreement.

In the demand, Mr Stein
and RHS alleged that Plain-
field and Seaside had “failed
to respond to numerous
requests and calls for action
made by RHS Ventures on

NOTICE

‘BRIDGEWATER PROPERTIES LIMITED
(In Voluntary Liquidation)

NOTICE IS HEREBY GIVEN that an Extraordinary General
Meeting of the Shareholders of Bridgewater Properties Limited
is hereby called to be held at the Registered Office of the
Company, Deltec Bank & Trust Limited, Lyford Cay, New
Providence Bahamas, on the 10" day of December 2008 at 9:00
0’clock in the morning.

The sbie and purpose of the said meeting is to have laid
‘|. before the Shareholders of the Company, the accounts of the
Liquidator, Shareece E. Scott, showing the manner in which the
winding up of the Company has been conducted, the property
of the Company distributed and the debts and obligations of the
Company discharged, and also to hear any explanation that may

be given by said Liquidator.

Dated the 6" November 2008.

Shareece E. Scott
Liquidator







NOTICE
Appointment of
Chief Executive Officer

Bahamas Supermarkets Limited is pleased to
announce the appointment of
Mr. Sunil Chatrani as Chief Executive Officer.
_ Mr.Chatrani replaces Mr. Stephen Boyle who
_ resigned effective September 30, 2008.

BAHAMAS



East-West Highway *« P.O. Box N 3738
Nassau, Bahamas « (242) 393-2830

NOTICE

IN THE ESTATE OF
MARY LOU VAETH,

late of' 7602 SE 12th
Circle in the City of Ocala
in Marion County in the
State of Florida,.one of the
United States of America,

Deceased

NOTICE is hereby given that all persons
having any claim or demand against or
interest in the above Estate should send same
duly certified in writing to the undersigned
on or before 12" December, 2008 after which

date the Executor will proceed to distribute
the assets of the Estate having regard only
to the claims, demands or interests of which
they. shall then have notice AND all persons
indebted to the above Estate are asked to
settle such debts on or before 12 December,
2008

FREDERIK F. GOTTLIEB & CO.
Attomeys for the Executors

P.O. Box AB-20405

Bay Street, Marsh Harbour

Abaco, The Bahamas



matters essential to the busi-
ness of the partnership - deci-
sions which normally would
be beyond the purview of a
‘limited partner’, but over.

_which Seaside had a veto pow-

er by virtue of the unusually
broad provisions of the Part-
nership Agreement ‘at issue
here”.

The arbitration demand
alleged that RHS Holdings’
contribution to the partner-
ship was the 100 per cent equi-
ty in the New South Ocean
Development Company, the
Bahamas-domiciled company
that Mr Stein used to purchase
the project’s land and cover
other pre-development costs.
New South Ocean Develop-
ment Company’s investment
was pegged at $7.56 million.

Seaside’s initial contribution
was an alleged $2 million loan.
that was converted into equity,
once the Government agreed
the re-routing of south-west
Bay Street away from the
development site.

The arbitration demand
then claimed that Seaside was
obliged to contribute a further
$47.7 million in capital, some

_ $3.3 million initially, and $37.4

million over time in response
to calls from RHS Ventures.

The partnership agreement
allegedly stipulated that Sea-
side held a. 51 per cent equity
share; RHS Holdings a 48 per
cent share; and RHS Ventures
1 per cent. ,

Seaside was also alleged to
have made mo‘e than $57 mil-
lion in loans to the partner-

ship controlling the South.

Cla. development, com-
pared to its $42.7 million in

equity capital.
- Those loans involved
alleged advances of $31.1 mil--

lion on February 15, 2008;
$13.095 million on the same
date; and $12.691 million on
August 1, 2008.

Those loans were secured
by a mortgage on the South
Ocean real estate, and a
pledge to Seaside of the out-
standing stock in RHS Devel-
opment.

Seaside, though, was the
second investor to hold a
mortgage on the property,
with an investment vehicle
owned by the Canadian Com-
mercial Workers Industry
Pension Plan (CCWIPP) also
having a $65 million interest
secured on the real estate.
CCWIPP is not involved in
the arbitration situation..

Mr Stein.and RHS Ven-
tures alleged that they and
Plainfield met with Prime
Minister Hubert Ingraham on
June 27, 2007, at which the
hedge fund “confirmed their
commitment to the project,
including providing the
required financing for the

$235 million infrastructure
phase of the project, as well |

as substantial financing for the
resort hotel and casino”.
That was allegedly con-
firmed in an August 3, 2007,
letter from Plainfield to the

Prime Minister, but the arbi-

tration demand alleged that it
had since violated its duties to
the South Ocean project and
the partnership by trying to
force RHS Ventures to “give
up their equity”.

managing agent
triples its agents

The managing agent for
ColinaImperial Insurance
Company has seen its agency
force triple from 15 to 48 in
the two years since it was
formed. .

Harold Antor, Tristar Insur-
ance Agents and Brokers’
president, speaking at the
company’s awards ceremony
to honour its associates and
executives, said: “With these

two years now under our belt,

Tristar has a positive trend
line which we fully intend to
escalate.”

“Ours is a new company

and a new concept in the
Bahamas. The effort on the
part of our team clearly shows
that a group of Bahamians can
work together to do some
great things and position for
an even greater future.”

The Tristar executive team,
comprising Mr _ Antor,
Dwayne ‘Pearce and Corinna
Neely, throughout the 2008
awards event provided top
staff members with gifts and
prizes, which included cash,
travel vouchers and plaques.

While many awards were
distributed to Tristar stand-
outs, one stood out among the

rest - the recipient of the E. '

Daphnie Hanna Award.

Dwayne Pearce, Tristar’s
principal, said that honour
was presented to the leading
Tristar agent. “This award
represents the indelible legacy

’ that the late Daphnie Hanna

left with the principals at Tris-
tar. Daphnie is represented in
the Tristar logo as the biggest
star in which all others should
emulate, and we would like to
memorialize her legacy in this
way,” he added.

Patricia Ferguson won the
E. Daphnie Hanna Award,
while Monique Beckles
earned the Rookie of the Year
Award which, recognised the
agent with the highest first
year commission in life sales.

Additional award categories
included the Conservation
Award, which recognized
agents with a 95 percent plus
persistency during the first
year commission, General and
Medical Awards respectively,
recognizing the agent with the
highest commissions in gen-
eral and medical business,
Branch of the Year, as wellas |
the Team Spirit Award, pre-
sented to the agent nominated
by fellow agents as a role
. model who inspires and moti-
vates the team. |

LEASE OF
OFFICE SPACE

Located Quantum Plaza, Soldier Road

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.

| Tf so, call us on 322-1986

and share your story.

NOTICE

BRIDGEWATER

PROPERTIES LIMITED

(In Voluntary Liquidation)

Creditors having debts or claims against the above-named
Company are required to send particulars thereof to the
undersigned c/o P.O. Box N-3229, Nassau, Bahamas on
or before the 6" December 2008. In default thereof they
will be excluded from the benefit of any distribution made
by the Liquidator

Dated the 6" day of November 2008.

Shareece E. Scott
Liquidator .



NOTICE
_ Notification of Delay in Completion
of 2008 Audited Consolidated
Financial Statements

Bahamas Supermarkets Limited wishes to advise
’ that the date for completion of the audit of its
consolidated financial statements for the year
ended June 25, 2008 has been delayed to November

14, 2008,subject to the timely receipt of various
outstanding items by its auditors, KPMG.

| BAHAMAS of
ra) pet ul URE,
——— LIMITED i

East-West Highway « P.O. Box N 3738
Nassau, Bahamas ¢ (242) 393-2830

WANTED

Newly built complex located in a prime business"
area (comprising approximately 650 sq. ft. of
premium office space). Available for lease. Shared:
kitchen, bathroom and conference room facilities.
Ideal corporate environment for small business
operation. Plenty of parking space available.

Please convey your interest indicating type of
business and relevant contact information to

info@thecollabgrp.com





PUES ee




Successful candidate must be efficient, —

organized, responsible and reliable in
-addition to possessing a minimum of five
years experience in the field. Please note:
Confidentiality is of supreme importance.



Interested candidates should send resume
via email to:

Meno ene een




Legal Notice
NOTICE

SHARPINVEST HOLDING LTD.
In Voluntary Liquidation

Notice is hereby given that in accordance with Section
138 (4) of the International Business Companies Act,
2000, SHARPINVEST HOLDING LTD. is in

dissolution as of November 5, 2008.
International Liquidator Services Inc. situated as 35A

Regent Street, P.O. Box 1777, Belize City, Belize is the
Liquidator.

LIQUIDATOR


sh

De ee

Fashion mogul Nygard
to judge award winners



Peter Nygard

NOTICE

NOTICE IS HEREBY GIVEN that an Extrordinary General

Meeting of the Shareholders of Cable Beach Holdings Ltd. is.
hereby called to be held at the Registered Office of the Com-
pany, Ocean Centre, Montagu Foreshore, East Bay Street in the
City of Nassau on the Eighth day of December, 2008 at 10:00
o’clock in the forenoon. The object and purpose of said meeting
is to have laid before the Shareholders of the Company the ac-
counts of the Liquidators, Toni Y. Godet and Monalisa Hanna,

- Showing the manner in which the winding up of the Company

has been conducted, the property of the Company distributed
and the debts obligations of the Company discharged, and also
to hear any explanation that may be given by said Liquidators.

Dated the Seventh day of November, 2008.
Toni Y. Godet and Monalisa Hanna
LIQUIDATOS

of
Cable Beach Holdings Ltd.

Legal Notice

Notice

_Cable Beach Holdings Ltd.
_ din Voluntary Liquidation)

Bahamas-based fashion
mogul Peter Nygard will join
the panel of celebrity judges
formed to select award recip-
ients for the Islands of the
World Fashion Week.

Among the awards to be

' presented are the Sustainable

Eco-Fashion Award, the Cul-
ture & Fashion Award, the
NextGen Designer Award
and the Seals of Excellence.

Judging in the yarious cate-
gories, set to assess the 38
designers from 12 island states
presenting at Fashion Week,
will take place throughout the
entire week.

Candidates for the Sustain-
able Eco-Fashion Award and
the Culture .& Fashion Award

were judged at the Opening

Reception on the evening of
Wednesday, November 5.
However, the award recipi-
ents will not be disclosed until
the Closing Reception tomor-
row.

Mr Nygard, whose fashion
empire is based in North
America, resides in the
Bahamas at his luxurious
150,000 square foot private

- resort at Nygard Cay, at the

western tip of New Provi-
dence.

Mr Nygard will host and
entertain more than 200 invit-
ed guests of Islands of the
World Fashion Week at the

Share your news

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

you are raising funds for a
good cause, campaigning.
for improvements in the
area or have won an
award.

If.so, call us on 322-1986 © 7

and share your story.



Employment
Opportunity

Receptionist/Clinical Assistant

For Doctors’ Office
Applicants must be honest,
hard-working & pleasant

Please fax resumes to

resort after the Closing
Reception.

The guest list will include
fellow celebrity judges Nole
Marin, of America’s Next Top
Model; Susan Stein; Nick
Verreos of NIKOLAKI; and
Alphadi.

The after-party will be the
final event after a week of
social activities, which includes
a Welcome Reception at the
Graycliff/Humidor restaurant,
a Cultural Display hosted by
the Ministry of Tourism, and a
reception at the recently-
opened Bob Marley Resort.

Islands of the World Fash-
ion Week consists of 21 cat-
walk shows at the historic
British Colonial Hilton, while
the Opening and Closing
receptions will take place at
the Atlantis resort, Paradise
Island.

The event, endorsed by the
United Nations Educational,
Scientific & Cultural Organi-
sation (UNESCO), will high-
light and promote cultural
diversity and dialogue, and
draw attention to global issues
such as the environment and
climate change, the education
of youth in HIV/AIDS, and
poverty alleviation. — .





Stocks tumble

m NEW YORK



Wall Street plunged for a second day, triggered by computer
gear maker Cisco Systems warning of slumping demand and retail-
ers reporting weak sales for October, according to the Associated'|:
Press. Concerns about widespread economic weakness sent the’
major stock indexes down more than 4 percent Thursday, including
the Dow Jones industrial average, which tumbled more than 440
points to 8,695.79.

Major indexes have lost about 10 percent since Barack Obama was
elected president — a vote preceded by a steep rally — and the loss-
es represent the Dow's worst two-day percentage decline since the
October 1987 crash.

Paper losses during that time in U.S. stocks came to $1.2 trillion,
according to the Dow Jones Wilshire 5000 Composite Index, which
represents nearly all stocks traded in America.

Comments from Cisco that it saw a steep drop in orders in Octo-
ber and reports from retailers that consumers are skipping trips to
the mall provided fresh evidence of the economy's struggles. Wor-
ries about automakers and the financial sector compounded

investors' unease.

EMPLOYMENT
OPPORTUNITY

Medical firm is accepting applications for the post
of Customer Service/Registration Clerk.





‘Applicants should have:

¢ Computer Operation Skills
¢ Ability to work shifts
° Good « customer service as

Previous experience in the customer service and
medical area is a plus.

Interested applicants should send resumes via
email to nassautechjob@yahoo.com



As a_ privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer in
the Bahamas, we are seeking an

Electrical Engineer.

The candidate/s should fave’ ‘proven. experience.
in Generators with more than 150KWs, Transfer
Switches, and Generation. Applicants with formal
education in electrical work are preferred.

Assist with troubleshooting of new_ products/
equipment (Both at the circuit board level and
system level).

Support Engineering efforts with ECO (Engineering
Change Orders) and EMO © (Engineering
Modification Orders).

Support Engineering with locating new parts,
suppliers and manufacturing solutions.

Actively seeks out solutions to technical problems.

Send complete resume with education and work
experience to M & E Limited, P. O. Box N-3238,
Nassau Bahamas, Attention: Human Resources

Department, or email: me@me-lItd.com.

‘Only persons being interviewed for this
position will be contacted.

Creditors having debts or claims against the above-named Com-
pany are required to send particulars thereof to the undersigned
c/o P.O. Box N-7776 (Slot 193), Nassau, Bahamas as Liquidators
on or before the Seventeeth day of November, 2008. In default
thereof they will be excluded from the benefit of any distribution
made by the Liquidator.

Dated the Seventh day of November 2008.

Toni Y. Godet and Monalisa Hanna

-

LIQUIDATORS
of
Cable Beach Holdings Ltd.

Legal Notice
NOTICE

Cable Beach Holdings Ltd.

NOTICE IS HEREBY GIVEN that at an Extraordinary
General. Meeting of the Shareholders of the above-named
Company duly convened and held on the Third day of No-
vember, 2008 the following were passed:

RESOLVED that Cable Beach Holdings Ltd.
be wound up voluntarily.

RESOLVED that Toni Y. Godet and Monalisa
Hanna be appointed the Liquidators for the purpose
- of such winding up.

Dated the Seventh day of November, 2008.

H & J Corporate Services Ltd.
Registered Office
for the above-named Company

394-1758

Abaco Markets

Bahamas Property Fund
Bank of Bahamas
Benchmark .

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S)

Focol Class'B Preference
Freeport Concrete

ICD Utilities

J. S, Johnson

Premier Real Estate

1000.00
1000.00
"1000.00
1000.00

Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

Bahamas Supermarkets
Caribbean Crossings (Pref)
RND Holdings

Bahamas Supermarkets
RND Holdi

Colina Bond Fund
Colina MSI Preferred Fund
Colina Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity [nternational Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund

’ ES Veinencial Diversified Fund

BISx ALL SHARE INDEX - 19 Dec 02 = 1,
52wk-Hi - Highest closing price In last 52 woeks
52wk-Low - Lowest closing price In last 52 weeks
Previous Close - Previous day's woighted price for daily volume
Today's Close - Current day's weighted price for dally volume
Change - Change in closing price from day to day
- Number of total shares traded today
in the last 12 months
12 month earnings
ate 8/8/2007
Ds ALO 7IVAI2007

Last Price
w rokly Vol.

2.82
2.44

(MARKET TERMS
YIELD - last 12 mont
Bid $ - Buying price of Colina and Fidelity
Ask $ - Sdlling price of Colina and fidelity
- Last traded over-the-counter price

N/M - Not Me
FINDEX - The



EG CAPITAL

MARKETS
BROKERAGE & ADVISORY SERVICES

ovo00000g000g0

2000000090000900000090)

7T% 19 October 2017
Prime + 1.75% 19 October 2022
T% 30 May 2013
Prime + 1.75% 29 May 2015

N/M
N/M
256.6

30-Sep- 08
31-Aug-08
17-Oct-08
- 30-Sep-08
30-Sep-08
30-Sep-08
30-Sep-08
31-Dec-07
30-Sep-08
30-Sep-08
30-Sep-08
30-Sep-08

- Trading no volume of the prior week
-Acom mpany's

reported earnings per share for the last 12 mths

lingful +
Fidelity Bahamas

Stock Index. January 1, 1994 = 100


PAGE 6B, FRIDAY, NOVEMBER 7, 2008 THE TRIBUNE

wr a rt os 8

SS

!

KPMG FAS Services Ltd. Telephone 242 393 2007

Fema

Financial Advisory Services Fax 242 393 1772
PO Box N 123 . Internet www. kpmg.com.bs
Montague Sterling Centre ;
East Bay Strect
Nassau, Bahamas
INDEPENDENT AUDITORS’ REPORT s

To the Shareholder of The Bank of Nova Scotia International Limited

We have audited the accompanying non-consolidated balance shcet of The Bank of Nova Scotia
International Limited (‘the Bank") as at October 31, 2007, and a summary of significant
accounting policies and other explanatory notes (together “financial statement"). The financial
statement of the Bank as at October 31, 2006 was not audited.

Management's Responsibility for the Financial Statement

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

Auditors’ Responsibility

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

An audit involves performing ‘procedures to, obtain audit evidence about the amounts and
disclosures in the’ financial statement. The procedures selected depend on our judgment,
including the assessment of the risks of material misstatement of the financial statement, whether
due to fraud or error. In making those risk assessments, we consider internal control relevant to
the Bank's preparation and fair presentation of the financial statement in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Bank's internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made
by management, as well as evaluating the overall presentation of the financial statement.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.

Opinion
In our opinion, the financial statement presents fairly, in all material respects, the financial

position of the Bank as at October 31, 2007 in accordance with IFRS.

Emphasis of Matter

Without qualifying our opinion we emphasize that this financial statement docs not comprise a
complete set of financial statements prepared in accordance with LFRS. Information on results of
operations, cash flows and changes in equity is necessary to obtain a complete understanding of
the financial position, performance and cash flows of the Bank.

KPMG

Nassau, Bahamas
October 30, 2008

te ne niet tN

THE BANK OE NOVA SCOTIA INTERNATIONAL LIMITED _





Non-consolidated Balafice Sheet S002
4 Eel A ay C AMY IES .
October 31, 2007, with corresponding figures for
(Expressed in United States dollars)
LL SSS
: Note 2007 2006
($'000s) ($'000s)
: : (Unaudited)
Assets
Cash at affiliated banks 14 3,338 1,309
Deposits with affiliated banks 14 $16,772 ‘917,222
: 3 920,110 918,531
+ Advances to subsidiary 4,14 1,705,143 2,059,993
Total return swaps Ss: 304,940 225,265
Other receivables ‘ 5 : 6,14 ~ 55,518 48,033
Investments in subsidiaries f 4,14 2,504,256 2,296,350

cat Se Ce Rd Say oe GG hae ae eS
Liabilities and Equity ee

Due to affiliated bank => 14 : 1,991 2,123
Accrued expenses & other payables : 7,14 ; 46,559 11,192
Notes payable 8,14 75,000 - 293,500
Foreign exchange contract 9,14 - 203,107
Equity linked note 5 882,512 803,287

Redeemable shares held by Parent Bank ©. 10,14 59,260 « 59,260 .
“1,065,322 1,372,469 |

* Equity

Share capital aay nl 2,792: 2,792
Share premium "1,466,559 1,466,559
Contributed surplus 299,748 299,748
Retained earnings 2,655,546. 2,406,604
4,424,645 4,175,703
Commitments and contingencies 7,15 :

5,489,967 5,548,172



See accompanying notes to non-consolidated balance sheet.

This non-consolidated balance sheet was approved on-behalf of the{Board of Directors on
October 30, 2008 by the following: j

oe o . Director

Notes to Non-consolidated Balance Shect

October 31, 2007
(Expressed in United States dollars)

1. Reporting entity



,

SSR ROTTEN:

(d) Functional and presentation currency

The non-consolidated balance sheet is presented in United States dollars (US$), which is
the Bank's functional and prime operating currency. Except/as indicated, financial
information presented in US$ has been rounded to the nearest thousand, The Bahamian
dollar is the currency of the country where the Bank is domiciled.

(c) Use of estimates and judgements

(

The preparation of the non-consolidated balance sheet in contormity with IFRS requires
management to make judgements, estimates and assumptions that affect the application
of accounting policies and the amounts reported in the non-consolidated balance sheet
and accompanying notes. The estimates are based on relevant information available at
the non-consolidated balance sheet date and, as such, actual results may differ from
these estimates.

‘The estinaites and underlying assumptions are reviewed on an ongoing basis. Revisions
to accounting estimates are recognized in the period in which the estimates are revised
and in any future periods affected,

In particular, information about significant areas of estimation uncertainty and critical
judgements in applying accounting policies that have the most significant effect on the
amount recognized in the non-consolidated balance sheet are described in notes 2 (g)
(iii) and (iv). : ‘

) New standards and interpretations not yet adopted , a

Up to the date of issue of this non-consolidated balance sheet, the IASB has issued a

number of amendments, new standards and interpretations which are not yet effective for

the year ended October 31, 2007 and which have not been adopted in the non-consolidated

balance sheet. : ,
The Bank is in the. process of making an assessment of what the impact of these

amendments, new standards and new interpretations is expected to be in the period of

initial application, So far it has concluded that-the adoption of them is unlikely to have a

significant impact on the Bank's results of operations and financial position.

In addition, JFRS 7 Financial Instruments: Disclosures and the Amendment to IAS ]
Presentation of Financial Statements: Capital Disclosures require extensive disclosures
about the significance of financial instruments for an‘entity’s financial’ position and
performance, and qualitative and quantitative disclosures on the natyre and extent of
risks. IFRS 7 and amended IAS 1, which become mandatory for the Bank's 2008 non-
consolidated financial ' statements, will require extensive additional disclosures with
respect to the Bank’s financial instruments and capital.

(z) Financial instruments ;
i) — Non-derivative financial instruments

Non-derivative financial. instruments comprise cash and deposits with
affiliated banks, advances to subsidiary, other receivables, due to affiliated
bank, accrued expenses and other payables, notes payable, and redeemable
preference shares held by Parent Bank. Non-derivative financial assets are
classified as Iqans and receivable. Non-derivative financial liabilities. are
classified as financial assets not at fair value through profit and loss.

Non-derivative financial instruments are recognized initially at fair value plus,
for instruments not at fair value through profit or loss, any directly attributable

' transaction costs. Subsequent to initial recognition non-derivative financial
instruments are measured at amortised cost using the effective interest method,
less any impairment losses, if applicable.

li) Derivative financial instruments. .

The Bank holds derivative financial instruments to hedge its foreign currency
exposure and to facilitate transactions on behalf of clients and other group
entities. Derivatives in a net receivable position are shown aé financial assets
and include total return swaps. Derivatives in a net payable position are.

_ Shown as financial liabilities and include the equity linked note and foreign
exchange contract.

Derivatives are recognized initially at fair value; attributable transaction costs
are recognized in profit cr loss when incurred. Subsequent to initial
recognition, derivatives are measured at fair value, and changes therein are
recognized immediately.

iii) Fair value measurement principles

The fair values of derivative financial instruments. which are not listed on a
recognized stock exchange, are determined by management and are based on
Proprietary models utilizing well recognized financial. principles and
reasonable estimates about relevant future market conditions and may reflect
certain other financial factors such as anticipated. profit ‘or hedging,
transactional and other costs. oa

iv) Impairment

Financial assets that are stated at cost-or amortized ¢ost are reviewed al each
non-consolidated balance sheet date to determine whether there is objective
evidence of impairment. If any such indication exists, an impairment loss is
recognized in the non-consolidated statement of income as the difference
between the asset's carrying amount and the present value of the estimated
future cash flows discounted at the financial asset's original effective interest
rate,

If in a subsequent period the amount of an impairment loss recognized on a
financial asset carried at amortized cost decreases and the decrease can be
linked objectively to an event occurring after the write-down, the write-down —
is reversed. *

v) ~ Derecognition

The Bank derecognizes a financial asset when the contractual rights to the
cash flows from the financial asset expire, are realized or are surrendered.

A financial liability is derecognized when the obligation specified in the
contract is discharged, cancelled or expired. :

(h) Advances to and investments in subsidiaries

Investments in subsidiaries are recorded at cost, less impairment losses. Any funding

required by a subsidiary is treated as a normal advance to the subsidiar’, Advances to .

subsidiary are stated at the principal amount less provision for loan losses.

(i) Foreign currency translation

Transactions in foreign currencies are translated at exchange rates prevailing at the dates
of the transactions. Monetary assets and liabilities denominated in foreign currencies at

* the reporting date are translated to United States dollars at the exchange rates ruling at
that date. The foreign currency gain or loss on monetary items is the difference between
amortised cost in the functional currency at the beginning of the period, adjusted for
effective interest and payments during the period, and the amortized cost in foreign
Currency translated at the exchange rate at the end of the period. Non-monetary assets
and liabilities denominated in foreign currencies that are measured at, fair value are
translated to the reporting currency at the exchange rates ruling at the dates that the
values were determined.

Gj) Cash and cash equivalents

Cash and cash equivalents include cash and short-term deposits with original maturities of

less than three months, which are subject to insignificant risk of changes in their fair value, :

and are used by the Bank in the management of its short-term commitments.

Cash and cash equivalents are carried at amortised cost in the non-consolidated balance
sheet.

aay

Sao / RE

sa

The Bank of Nova Scotia International Limited (“the Bank") is incorporated under the Cy Share eae
Companies Act, 1992 of The Commonwealth of The Bahamas and is licensed under the Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of :
Banks and Trust Companies Regulation Act, 2000. The Bank is a wholly-owned subsidiary ordinary shares are recognized as a deduction of equity. :
of The Bank of Nova Scotia (‘‘the Parent Bank”), a company incorporated in Canada. The (1) Related parties raat

ba

registered office of the Bank is located at Scotia House 404 East Ba
h is : s y Street, Nassau, The
Baharhas: ‘The’ Bank ie primarily a holding company, ' A_ number of transactions are entered into with related: parties in the normal course of

business. Balances resulting from such transactions are described as balances with affiliates, °

2. Basis of Preparation and significant accounting policies : subsidiaries or Parent Bank. .
The following is a summary of the significant accounting policies i . i
ane eee B Policics adopted by the Bank in ' 3. Cash and cash equivalents
(a) Statement of compliance !

ie non-consolidated balance sheet has been Prepared in accordance with International :

inancial Reporting Standards (“IFRS”), The accounting policies have been applied — en ‘

Consistently to ail periods presented in this non-consolidated balance sheet. | —————2007___2006 .
) | |
(b) Basts of measurement i a aa

The non-consolidated balance sheet has. been prepared under the historical cost : pee:

convention as modified by the revaluation of certain financial assets and fi i : ! Fg, emepeate witcalliated bank

liabilities and derivative contracts to fair value. oes o a - oe aes
. Sone Si Deposits with original maturity dates greater than

; : a4 3 months’ ; (
The non-consolidated balance sheet has not been consolidated with those of the Bank’ By aon Sn TT 815,951 5331
subsidiaries a lid i i : — 2
sas consoli ated financial statements will be prepared by the Parent Bank. oe

The consolidated financial statements of the Parent Bank are located at the registered
office of the Parent Bank located at Toronto, Ontario Canada. | |
vai baie deriv A . ae ; ; ) 7

v
THE TRIBUNE | - FRIDAY, NOVEMBER 7, 2008, PAGE 7B |









1. Share capital |
5 sto and investments in subsidiaries : f
4 Advances to = ae Rae aT te
Advances to subsidiary at October 31, 2007 (2006) represents an unsecured, interest-free and . eae ee ($0008) ($000)
demand loan to BNS International (Barbados) Limited. (Unaudited)
; : : eee tee Authorized: j
The Bank holds investments in the following subsidiaries: Ordinary shaves of USL ew a S00 3.500) :
- ’ Issued and fully paid
Country of Percentage Holdings 2007 2000 Ordinary shares of US$1 each 2,792 2,792 i
Name Incorporation 2007 2000 ($0008) ($" 000s) Te ,
(Unuudited) :
BNS Bermuda Limited Bermuda 100% 100% 09 62 cs
BNS International (Barbados) Limited Barbados 100% 100% 25,005 25,005 12. Pensions
BNS Intemational (Panama) S.A. The Republic a ete ek see pac : ce Bo aig ee
of Panama 100% 100% 404,131 293,608 . The primary pension plan is of fered by the Parent Bank. This plan is a defined benefit plan and j
BNS Pacific Limited Mauritius 100% 100% 1,057 1,057 participation by employees is non-contributory. The contributions to the plan are made by the . :
Scotiabank (Buhamas) Limited The Bahamas 100% = 100% 66,432 66,432 Parent Bank on an ongoing basis to keep the plan fully funded. The assets of the plan are held
Scotiabank Caribbean Treusury Limited | The Bahamas «100% 100% 25,000 25,00) = . on : 7 ra de, d ee
separate trustee ¢ stere f : pens E u ments from
Scotiabank (Belize) Lid, Belize ; 100% 100% 6,000 6,000 in separate trustee administered funds and the pension plan is funde by paym i
Scotiabank (British Virgin Islands) Limited British Virgin ‘ corporate headquarters taking account of recommendations of independently qualified .
Islands 100% 100% 16,000 16,000 ' actuaries, The most recent actuarial valuation of the plan was at | November 2006 and based 4
Scotiabank (Hong Kong) Limited Hong Kong, a Ra : on that independent valuation, the plan was fully funded. All actuarial information relating to
Scotiabank (Ireland) Limited The Republic of eres . din the fi Bs - of the Parent Bank
ireland 100% 100% 980,000 883,107 : this scheme can be found in the financial statements of the Parent Bank. .
Scotiabank (Turks and Caicos) Lid. The Turks & . ‘ was
Caicos Islands 100% 100% 6,130 6,130
Scotia Corredores de Seguros S. A. Dominican Republic 100% 100% 13 10 H
Scotia Insurance (Barbados) Limited Barbados 100% 100% 20,032 20,032 ' : “13. Global employee share ownership plan ; 4
Scotia Insurance de Puerto Rico The United States : ° : i ; ip Pl 6g
of America 100% 100% 5 5 Certain subsidiaries of the Bank participate in the Global Employces Share Ownership an .
Scotia Realty Cayman Limited The Cayman Islands 100% /,- "100% 9,650 9.650 (GESOP) of the Parent Bank, which allows employees to contribute a percentage of their
Scotia South America Limited The Bahamas 100% 100% 6,002 6,002 : ° ; ah : sa gee ote ;
annual sali e GES : fa ase shares in the Parent Bank,
The Bank of Nova Scotia Asia Limited The Republic of annual salary to the GESOI . The contributions are used to purchi i cet feed f
Singapore 100%, 100% 641,225 641,056 on the Toronto Stock Exchange at prevailing market prices. The employer matches a si f
The Bank of Nova Scotia Trust Company percentage of the employees’ contributions and these vests with the employees after a stated
(Bahamas) Limited The Bahamas 100% 100% 90,095 90,095 sriod of 7 ticipation in the GESOP.
Scotia Peru Holdings S.A * Peru 100% 100% 4,728 4,417 pertod oF paruierps oy

2,504,256 2,296,350

14, Related party transactions
The Bank is a member of a group of affiliated banks and other companies and. has extensive
Ininsactions and relationships with members of the group. Related panies comprise the Parent
Bank and other entitics in which the Parent Bank is considered to have control or exercise
significant influence over the entitics’ financial or operational decisions. Most of the
transactions of the Bank are with related parties.

During the year the Bank increased its investments in BNS International Panama S.A.
by $110,523,667. During the year ended October 31, 2006 the Bank increased its
investments in BNS Intemational (Panama) S.A. by $293,597,567, Scotia Caribbean
Treasury Limited by $25,000,000 and Scotia Peru Holdings S.A. by $4,416,878.

On.May 16, 2002, the Bank made a capital contribution of EurS53.8 million (US$500 million)
to its subsidiary Scotiabank (Ireland) Limited (‘‘SIL"), as part of a Group transaction to provide
funding for a period until 2007, and is essentially an advance to the subsidiary. During the year
the Bank received Eur553.8 million (US$703,106,829) from SIL as repayment. of the
contribution. Subsequent to the repayment of the contribution, the Bank increased its

investment in SIL by $800,000,000. ,
eS

Included in the non-consolidated balance shect are the following related party balances.





Pursuant to a purchase and sale agreement dated May 17, 2007, the Bank acquired the 2007 2006
beneficial ownership of the shares of Corporacion Mercaban de Costa Rica S.A. from an ($"000s) ($°000s)
affiliate for consideration of $75,000,000. The Bank then exchanged the shares of (Unaudited)
Coproraction Mercaban into BNS International Panama S.A for additional shares in Panama.
Cash at affiliated banks 3,338 1,309
Deposits with affiliate banks 916,772 917,222
Advances to subsidiary 1,705,143 2,059,993
‘ Other receivables 51,989 44,497
Investment in subsidiaries 2,504,256 2,296,350
. : , Duc to affiliated bank : 1,991 2,123
3 villethl Fetura ewebsiane expiity nied te : 7. Accrued expenses and other payables 7,659 © 11,192
On 30 November 2001, the Bank issued a non-interest bearing equity linked note (“ELN”) with Notes payable : . : 75,000 293,500
an initial value of $498.099 million to St. Lawrence Trading Inc.,.maturing on 30 November Foreign exchange contract - 203,107
2016. The Bank is authorized to issue an aggregate additional amount of up to $252 million. ‘Redeemable preference shares held by Parent Bank 59,260 59,260
The value of the ELN is equal to the aggregate equivalent value of the equity interests in a ,
basket of funds managed by Global Asset Management Limited. At October 31, 2007, the
outstanding. ELN was $577.572 million (2006: $578.022 million) and had a fair value of
$882,512 million (2006: $803.287 million). .
The ‘Bank entered into total return swaps with Scotiabank (Ireland) Limited to hedge its 15. Commitments and contingencies 4
exposure against unfavorable marke movements of the basket of funds. The fair value of In the normal course-of business, various indirect credit commitn.ents are outstanding which d
swaps at October 31, 2007 was $304.940 million (2006: $225.265 million). : | are not reflected in the non-consolidated balance sheet. These include: ‘ ;
The Bank’s obligations under the ELN are fully guaranteed by the Parent Bank. The Bank : (a) Guarantees and standby letters of credit which represent an iirevocable obligation to pay a :
pays a guarantee fee of 10 basis points on the net asset value (NAV) of ‘the basket of - * third party when a customer does not meet its contractual financial or performance

investment securities to the Parent Bank. The fee is accrued monthly and is paid quarterly. . obligations.

Under the ELN agreement, the Bank earns a service fee of 0.5% of the amount by which the . : — . : . . :
reference assets NAV exceeds the Purchaser Put Share Value, as defined in the ELN These financial instruments are subject to normal credit standards, financial controls,
agreement. The fee is accrued monthly and paid at cach anniversary of the issue date and on and, monitoring procedures. The table below provides a detailed breakdown of the

, Bank's’ off-balance sheet credit commitments expressed in terms of the contractual _ :
the maturity date. rant se amounts of the related commitment or contract: : ; Fi













a: te Cee) . i eS Paar ae A . A EB . hi
; ! =a 2007 tssf 220068 bainbilozdns-nait )
3 ($°000s) ($°000s) ; :
2007 2006 (Unaudited) .
, 2 :
($'000s) ($'000s) Guarantees and irrevocable Icttcrs of credit - subsidiar 25,000 25,000 E
(Unaudited) B
Accounts receivable — subsidiaries $ 50,679 38,066 (b) Management has assessed all pending Iegal matters affecting the Bank and is of the :
poate cee = eure is 1,310 6,431 es opinion that no additional provisions are necessary. At October 31, 2007 there was one :
ccounts receivable — St. Lawrence Trading 3,477 3,428 sea outstanding matter which was settled subsequent to the year end (see Note 7). :
Other 52 108 :
F
$ 55,518 48,033 16, Financial risk management
' The Bank engages in transactions that exposc it to various types of risk in the normal course of
Included in accounts receivable - subsidiary at October 31, 2007 is a dividend receivable from business. These risks include credit, market, currency, interest rate, liquidity and fiduciary risk. j
a subsidiary in the amount of $44 million. The dividend was received on December 6, 2007. : The Bank's financial performance’ is dependent on its ability to understand and effectively :
7. Accrued expenses and other payables ‘ manage these risks. : :
Included in accrued expenses and other payables at October 31, 2007 was an amount of $38.9 (a) Credit risk
million (2006: $5.0 million) representing a reserve for loss as required as part of an indemnity fe fi ete a . : ’
provided under a sale and purchase agreement for one of the Bank's subsidiaries: Subsequent to ae ee . oe aie ee ae eee
ihe’year end the: pavment undes his aereeriéint waa Hinde. : instrument will fail to discharge an obligation and cause the other party to incur a . ; P
a financial loss. - As. substantially all of the Bank's assets and liabilities are with group ;
- Notes Payable : : / companies, the risk uf financial loss is considered low.
On May 17, 2007, the Bank signed a promissory note payable with-a principal value of $75 : : (b) Market risk
million payable to an affiliated company. The note is interest-free, unsecuréd and repayable on ; ; : ee
demand. On August.31, 2006, the Bank signed a promissory note payable to the Parent Bank Me See ee nero stere i" pee tee ome eee ;
with a principal of $293.5 million. The note was. interest-free, unsecured and repayable on ils nen : oe Ber apes Watney Move ent Manace cient Cociamnly
demand. The note was repaid on November 30, 2006. monitors market risk by utilizing real-time market information systems, i
: : (c) Currency risk
The Bank takes on exposure to effects of fluctuations in the prevailing foreign currency
exchange rates on its financial position and cash flows. The majority the Bank's assets and
9 Pincig cashless wicteaes . oes are denominated in US$, and due to foreign currency hedges, in place the Bank
: is not exposed to-significant currency risk. :
On May 16, 2002 the Bank entered into a forward exchange contract for Eur553.8 million (d) Interest rate risk
(US$500 million) to hedge its foreign currency exposure for the advance to Scotiabank 4 j : i
(Ireland) Limited (see Note 4). This contract is revalued to its market value at each non- a gee ee ee a a ear eee ee eine am
consolidated balance sheet-date. At October 31, 2006, the fair value of the foreign exchange oe eee ee
contract was a loss of $203.1 million. ; and carnings.. The Bank monitors its interest rate GAP on a quarterly basis, as the gap is.of :
— : : : ; : a short-term nature, the Bank’s interest rate risk is low. 1
funding relationship and the foreign exchange contract were unwound during 2007. ,
¢
a a (e) Liquidity risk
10. Redeemable preferred shares held by Parent Bank :
Liquidity risk arises from fluctuations in cash flows. The Bank's approach to managing
2007 2006 liquidity risk is to ensure, as far as possible, that it is able to, honour all of its financial
- ($°000s) ($'000s) : commitments as they fall duc. The Bank manages liquidity using policies that include:
; : (Unaudited)
ridlesied ; eh ; : ° _ Measuring and forecasting cash commitments
74% non-cumulative participating redeemable . . ensuring immediate availability of large pools of liquid assets to meet
Padi piaetiihes shares of US$1 each 10,000 _ 10,000 unforeseen events :
non-cumulative participating redeemable iversifyi ing sources
Series B preferred shares of US$1 each 500 500 " . diversifying funding sources
64% non-cumulative participating redeemable e receiving significant Bank and affiliate deposits that give the Bank
Scries C preferred shares of US$1 each 51 51 access to considerable funding.
a 10,551 10,551
Issued and fully paid: |
74% non-cumulative participating redeemable F :
Series A preferred shares of US$] each : ' 10,000 10,000 :
10% non-cumulative participating redeemable (f) Fair value of financial instruments
Series B. preferred shares of US$1 each i ial i
64% non-cumulative participating aie mable a wae / Fair value represents the amounts at which a financial instrument could be exchanged in an .
Scries C preferred shares of US$1 each _ _ arms length transaction between willing parties and is best evidenced by quoted market
; 10,493 10,493 prices if one exists.
Prciniui of ane obteeenable clerel ehacs . saa aisey ‘ Management estimates that the fair value of cash at affiliated banks, deposits with
—eoaeaesresemae pre - 30550 : 50060 : affiliate banks, advances (o subsidiary, other receivables and accrued expenses & other —
ee oS ae payables does not differ materially from their carrying value, given that the average
: ole e effective interest rates approximate the current interest rates available to the Bank for
The redeemable prefc i ; i :
ner pre erred shares rank in priority to the ordinary shares of the Bank in the event similar facilities with similar maturities or due to their short-term nature.
of a dividend distribution. Each series of preferred shares ranks equally in all respects except
for the dividend rate accrued thereon. The fair value of investments in subsidiaries and redeemable preference shares held by

i Parent Bank cannot be determined,
The preferred shares are redeemable in whole or in part by the shareholder by notice in writing nay eee
sixty (60) days prior to the redemption date. Total return swaps, foreign exchange contract and equity link note are carried at fair
In the event of liquidation, dissolution’ or winding up of the Bank, the holders of the maine Roce aire ep aele te)

redeemable preferred shares shall be entitled to receive the amount paid up thereon together

. all dividends declared and unpaid to the date of distribution before any amounts shall be 17. Subsequent event
paid or any assets or property of the Bank distributed to the holders of the ordinary shares, The , :
. ROMene Wee ene us Is sac rinke ‘Under the terms of a demand Promissory note dated June 18, 2008 an affiliate of the Bank

borrowed $25,500,000. :

.

distribution of the property or assets of the Bank.

1S Ane _ creer : ; ae ' UALR ANA aye na

ey

heb espe ave
PrAUE 8b, FHIDAY, NOVEMBER 7, 2008

THE TRIBUWe



Realtors chief obtains
top global designation

Legal Notice
NOTICE
SEVERN HOLDINGS LIMITED
(Company Number 23,360B)

An International Business Company

(In Voluntary Liquidation)

| Pursuant to Section (137 (4) of the International
Business Companies Act, 2000 notice is hereby given

that the voluntary winding-up and dissolution of the
Company Commenced on the 4th day of November, 2008
| and that Pensford Nominees Limited of 10 Deveaux Street,
P.O. Box N-4877 has been appointed Liquidator.

Dated this 5th day of November, A.D. 2008

Pensford Nominees Limited
Liquidator



Legal Notice
NOTICE ;
INDO GULF BIOTECHNOLOGIES LIMITED
(Company Number 33,3609B)

An International Business Company
(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International

Business Companies Act, 2000 notice is hereby given

that the voluntary winding-up and dissolution of the

Company Commenced on the 4th day of November, 2008

and that Pensford Nominees Limited of 10. Deveaux Street,
_P.O. Box N-4877 has been appointed Liquidator.

Dated this 5th day of November, A.D. 2008

Pensford Nominees Limited
Liquidator
&

‘Legal Notice
NOTICE
MAGI LIMITED
(Company Number 33,435B)

An International Business Company

(In Voluntary Liquidation)

Pursuant to Section (137 (4) of the International

Business Companies Act, 2000 notice is hereby given
that the voluntary .winding-up and dissolution of the

Company Commenced on the 4th day of November, 2008
and that Pensford Nominees Limited of 10 Deveaux Street,

P.O. Box N-4877 has been appointed Liquidator. -
| Dated this 5th day of November, AD. 2008

Pensford Nominees Limited
Liquidator

errr BAHAMAS comer

Sw RAP otf.

Cafluch ni ep ett

Maintenance Operations Supervisor

Bahamas Supermarkets Limited operates a leading
supermarket chain in The Bahamas. As a market leader,
the Company prides itself on delivering premier service
through its City Market supermarkets, having a strong
commitment to its customers, associates and community.

An opportunity for a Maintenance Operations Supervisor
in New Providence to join this market leader has arisen.

Reporting to Retail Operations, the successful applicant
will have previous experience in managing, scheduling

~~. f.and directing a maintenance program for retail or similar

operations.
Key responsibilities and selection criteria include:

¢Working knowledge of HVAC, electrical, plumbing,

and refrigeration systems
. ‘Highly flexible and mobile and prepared to work

evenings and weekends

*Motivate, train and insure that-associates and outside
Contractors in each district are providing quailty
maintenance services

*Manage preventative maintenance programs

*Completed High School with a minimum of 3 BGCSE
including mathematics

«Work independently, making quick decisions while
working under pressure.

*Have good communication (verbal and written) and
interpersonal skills

*Solid functional computer skills with working
knowledge of Microsoft applications

If you have what it takes to succeed in this challenging
role, forward your resume and cover letter to:

Human Resources Director
Bahamas Supermarkets Limited
East-West Highway ¢ P. O. Box N 3738 + Nassau, Bahamas
Or e-mail to: humanresources@bahamassupermarkets.com
Only qualified applicants will be contated.
No telephone inquiries please



William Wong

As a privately-owned, mid-sized Bahamian Company
and the authorized Caterpillar dealer in the Bahamas,
we are seeking a candidate to work as a

Marketing / Sales Manager

The Candidate should have the following requirements:

Have 10-15 years experience with the Caterpillar
‘Product Line, have worked in a Caterpillar
dealership or a similar Organization;

Have Caterpillar training in power generation;

The candidate should be a certified iSO 9000
auditor;

Must have a Degree in Engineering/Marketing
from an accredited university;

Must be able to manager and motivate staff in the
Sales Department;

Must be able to liaison with potential buyers, grow

market share and increase sales;
Know how to execute business, sales and
marketing plans, and close a sales deal;

This candidate is required to be a professional who
. thrives on the challenge of developing outstanding
customer relations and service excellence.

Send complete resume with education and
work experience to

M&ELimited, — -

P.O. Box N-3238, Nassau Bahamas,
Attention: Office Administrator, or erriais

me@me-ltd. com.

Only persons being interviewed for this
position will be contacted.



Tourist related firm is looking for a skilled

Reservation/Product assistant to
work full time.

Applicant should have the following qualifications:

* Basic knowledge of the Travel Industry

‘© Must be able to work under pressure and with
deadlines oo

* Computer Knowledge (Word, Excel, E-mail) _
Quick mind

¢ Proper use of the English language, Spoken ane
written

¢ Must be willing to work weekends and/or after
hours.

* Applicant must be professional, aiigent and exact
when dealing with clients.

° Team spirit

Duties will include:

¢ Making Proposals/Reservations

¢ Planning itineraries
« Customers Service

¢ Knowledge of European Culture and language a
plus, but not required

Salary according to skills

Please fax your resume along with a
Reference letter of previous employer
to 326-5734



The Bahamas Real Estate
Association’s (BREA) presi-
dent, William Wong, has been

awarded the Certified Inter-

national Property Specialist
(CIPS) designation.

He will now join a world-
wide referral network of elite
global real estate practition-
ers with expertise in working
with international clients.

The CIPS Designation is
awarded by the National
Association of Realtors
(NAR), which represents over
1.2 million realtors in the US.
Mr Wong will be formally
recognised at the NAR’s
Annual Convention in Orlan-
do, Florida, on November 8,
2008.

The CIPS designation
recognises realtors who have
achieved the necessary train-
ing and experience to work

successfully with international.

clients and properties. To

7 earn the CIPS designation,



“William Wong is
now established as
an expert in inter-
national real estate”

[APE RD ARSE ATT O IIE CRE ae mE |
realtors complete rigorous
coursework devoted to learn-
ing cultural differences and
international business prac-
tices.

Designees must also prove |
achievement in international
real estate transactions. Mr
Wong joins a distinguished
society of over 1,500 real
estate professionals through-
out the world who have
earned the CIPS designation.
' “This is a highly prestigious
award in our industry,” said
Tony Macaluso, CIPS, NAR
international operations com-
mittee chair. “William Wong
is now established as an expert
in international real estate.”





NOTICE

NOTICE is hereby given that MANUEL REYES DE LA PAZ-
of #44 POINCIANA AVENUE, COCONUT GROVE, P.O.
BOX N-423, NASSAU, BAHAMAS is applying to the Minister
responsible for Nationality and Citizenship, for registration/ .
naturalization as acitizen of The Bahamas, andthat 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 7TH day of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that ANGELA JULES of KEMP

| ROAD 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 31ST day of
OCTOBER 2008 to the Minister responsible for Nationality
and Citizenship, PO.Box N- 7147, Nassau, Bahamas.

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED-POLL

The Public is hereby advised that |, ANTOINETTE LOUISE
GLINTON of Woodland Rd., PO. Box N-9214, Nassau,
Bahamas, intend to change my name to MARIE ANTOINETTE
GLINTON. If there are any objections to this change of name by
_Deed.Poll, you may write such objections to the Chief Passport
Officer, RO.Box N-742, Nassau, Bahamas no later than thirty
(80) days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that WENEL WESLEY of
NASSAU, BAHAMAS is applying to the Minister responsible
-for Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
Knows any reason why registration/ naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 7TH day of
.NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P.O.Box N- 7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that EMMANUEL ALCIME of
LEWIS AND MAYCOCK 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 7TH day: of
NOVEMBER 2008 to the Minister responsible for Nationality
and Citizenship, P-O.Box N- 7147, Nassau, Bahamas.





SHOCKED BY YOUR SLECTRIG BILL
Check out the proven and tested Power-Save product!

Guaranteed to save up to
25% per
month on your electrical
consumption.

For details visit our website at:
www.Powersavebahamas.com or

phone: 393-8814

or email us at powersave@coralwave.com



(POWER SAVE BAHAMAS
B

A

2008, PAG

7

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MB

FE:

OV

\

|

XY,

FRID/

THE TRIBUNE

ne Se ee eae Br te =.



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PAGE|10B FRIDAY, NOVEMBER 7, 2008







WAS DUGGAN'S Vf
SUICIDE NOTE
HANDWRITTENZ

APT 3-G

DON’T WORRY X YOUR CAB FOR
ABOUT ME, RUBY,
J/LL BE FINE.

M-4



GOO!
QUESTION,
COUNSELOR!





THE AIRPORT 1S
HERE, LU ANN.

UM KNOCKING OFF EARLY SO!

CAN GO VOTE, BOSS

THANKS, TOMMIE.
AND THANK YOu
ALL. I/LL NEVER
FORGET YOUR

COURAGE AND
KINDNESS.



---AND HE

TO KILLING
CHEATHAM!





AWD



©2008 by North America Syndicate, Inc. World rights reserved.

BUT IT'S
ONLY 10:30
IN THE
MORNING!!

CAN I HELP
IT IF IMA

CONVENIENTLY
CONFESSED -







CALVIN & HOBBES

WNOWSHISINNSC mom

AN

Te
(vl
te

O) aos (7

k/

DENNIS THE MENACE

r ~
ee



elt
Cre

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A FReRe ARATE,

g Noem America Synd

©z00

THE TRIBUNE



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





“Lay

U-¢





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



DECISIONS, DECISIONS!”

Difficulty Level * *&

\T'S

IMPOSSIBLE TO
KEEP MARVIN. IN fe.
HIS BED AT NIGHT.

é
i
i
i
i







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

GETTING

Ll GROW



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

RYPTIC PUZZLE

Across .
1 Aspired to become a.
literary giant (7)
4 Two short ways to

break in (5) 3
7. He floated a company to 4
avoid liquidation (4)
8 The offer of money may - 5
make them cross (8)
10 Stayed well away from 6
work (10)
12 Unfinished plans of row- 9
dies (6)
13 The inane goddess? (6) 11
15 Chimney cleaners take a
gamble (10) ‘ 12
18. Near the avenue (8)
19 Plant where workers strike
for more money (4) 14
20 Shoot for almost the whole
season (5) 16
21 Is angry about the
shrub (7) 17

Yesterday’s Cryptic Solution

' Actoss: 1 Get-together, 9 Portico, 10

Khaki, 11 Yarn, 12 Umbrella, 14 No
more, 16 Hold it, 18 Gardener, 19
Spur, 22 Malta, 23 Antwerp, 24 Ata
discount.

Down: 2 Error, 3 Tail, 4 Grooms, 5
Take root, 6 Enabled, 7 A paying
game, 8 Misanthrope, 13 Freehand,
15 Martlet, 17 Relays, 20 Preen, 21
Otto.

HE CLIMBS RIGHT



OUT OF HIS CRIB

WELL, PID |

Down
1 Material that’s dug up (5)
2 Becomes confused about



laps, runs wrongly (6,2)
Staggered, but.got in line (6)
The shooting of an
unknown person? (6,4)
The purposes of first-class
writing (4)

Give a subject .a title,
perhaps (7)

He won’t ring when upset
and at fault (2,3,5)

Uncle perhaps? That
would be telling! (8)
Make haste with methods
for smooth procedure at
airports (7)

Fights to protect one’s
property (6) _

There’s an added charge
for a special edition (5)

A boom in shipping,
perhaps (4)

EASY PUZZLE

Yesterday’s Easy Solution

Across: 1 Hero-worship, 9 Hygiene, ©
10 Mason, 11 Dare, 12 Alsatian, 14
Inmate, 16 Threat, 18 Land mine, 19
Cash, 22 Naive, 23 Overall, 24
Under arrest.

Down: 2 Eager, 3 Open, 4 Overly, 5
Sympathy, 6 Inspire, 7 Rhode

Island, 8 In a nutshell, 13

Stampede, 15 Mansion, 17 Angola,
20 Amass, 21 Bear.



I KNOW. HE'S
BECOME A FREE-
RANGE BABY





FROM THE
TOP OR THE









Across

10

12
13
15

18
19
20
21

Die (7)

Unsettling blow (5)
Stratagem (4)
Large and
luxurious (8)
Whatever the price
(2,3,5) .

Shackle for feet (6)
Lively (6)

That sounds
reasonable! (4,6)
Court of justice (8)
Two of a kind (4)
To sponge (5)
Pagan (7)







ih s puzzle, zt defeating
aupuietainces ;
Bhatchtey code-breaker,

Pdemee Me PD ToT tia

Down

1

3 Publish widely (6)
4 ‘Superficial
’ knowledge (10)

11
12
14
16

17









‘Chess: 8735: 3 dt ud? 2 BFS (reat 2 RAB

Cannot
Soar

~ Material, bishop and two pawns”
for took, but his next precise tum:

forced a winning endgame and
induced his opponent, who won

















Middle East
republic (5)

Person injured (8)



Fail to do (4)
Spoilsport (7)
A Strauss waltz (4,6)





Leave by will (8)
Distraught (7)




Deliver a sermon (6)




Long-legged wading
bird (5)
Untamed (4)







{
mate] Xg8 3 Bxd7 Re? 4 Bxc6 duc6 5 Rat and Black
because of § Rose
endgame,





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

























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









East dealer.
Both sides vulnerable.

- NORTH
@AS
Â¥842
@AQ1095
643 ’

WEST EAST
®Q9642 #3873
¥K 10 ¥Q7653
64 KI
BI975 $102

SOUTH

@K 10

VAIO

8732

SAK QB
The bidding:
East South West North
Pass 1 NT Pass 3NT.

Opening lead — four of spades.

Declarer’s primary task in most
deals is to try to make the contract
and not to concern himself with over-
tricks. While overtricks have some
value in the scoring, they are of
minor importance when a game or a
slam is at stake.

This basic principle gave birth
many years ago to a vast family of
plays known as safety plays. They
enable declarer to better perform his
No. | function of trying to score, in
as safe a manner as possible, the
number of tricks his side has con-
tracted to make.

One characteristic feature of
many safety plays is. the willingness
to lose a trick unnecessarily in order
to increase the overall chance of ful-
filling the contract. Today’s hand





3/5 /9 fig 8 19/6
1/2 /4 Big 3 |.2) 1
1|9/\2
9/5 fag 4/1 /3/2
21113 |8 Be 7 | 1
816 |9 fig 7 (819
718 619





1103







HOW many words of four letters
or more can you make from the
letters shown here? In making a
. word, each letter may be used
once only. Each must contain
the centre letter and there must
be af least one nine-letter word,
No plurals,

“TODAY'S TARGET

Good 24: very good 36; excellent
47 {or more), Solution
tomorrow,

SATURDAY'S SOLUTION :

alto bald blab blah bioat blob

blood BLOODBATH blot bold

bolt dahl dhal dolt halo halt

hold. holt lath load loath lobo

loot loth told tool J

provides an example of this type.

Declarer’s best chance of making
three notrump lies in developing the
diamonds: without losing two tricks
in the suit. If he loses two diamond
tricks before the suit becomes eétab-
lished, he will also lose at least three
spades and so go down.

The safest way of broaching -the
diamonds is to win the opening
spade lead with the king and play a
diamond to the ace! As it happens,
East’s jack falls, and making the con-
tract then becomes routine.

However, let's suppose — that
instead of playing a diamond to the
ace, South leads a diamond to the
queen at trick two. East wins and
returns a spade to the. ace. Declarer
then crosses to his hand with a club
and leads another diamond.

West follows low, and South. is
now faced with a very difficult
guess. He must decide whether East
was originally dealt the K-J double-
ton of diamonds or the singleton
king. He may, of course, guess cor-
rectly, but as often as not he will mis-
guess.

However, the guess is one that
declarer has carelessly created for
himself. The ace play on the first
round of diamonds spares him the
need to guess and guarantees the
contract unless East has K-J-x or K-
J-x-x in the suit. The queen play car-
ries no such guarantee. True, it may
gain a ‘trick 30 points — from
time to time, but it will lose the con-
tract often enough to rendér any such
overtrick inconsequential.



Tomorrow: The hardest bid of all.
©2008 King Features Syndicate Inc.


THE TRIBUNE BUSINESS



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FRIDAY, NOVEMBER 7, 2008, PAGE 113





his sidekick Derek put Ay
some smiles on your

kids’s faces.





Bring your children to the
Mctappy Hour at McDonald's in
Oakes Field every Thursday |
from 3:30pm to 4:30pm during the
month of November 2008.



Enjoy Great Food, Prizes and Lots of Fun.

Pm levin'’ it

pe BGG oe o fe ar
iMovie Gift Certificate

make great gifts


. Wal-Mart Stores Inc.

PAGE 12B, FRIDAY, NOVEMBER 7, 2008



BUSINESS

THE TRIRUNE



US retailers report steep

sales declin

i By ANNE D'INNOCENZIO
AP Retail Writer '
NEW YORK

The nation's retailers saw

their sales plummet last month ~
to the weakest October level :

since at least 1969, as the finan-
cial crisis and mounting layoffs
left shoppers too scared to shop,
according to the Associated
Press:

The stunning and rare drop,
from an already. weak Septem-
ber, is further darkening the
outlook for the holiday season
and raising more concerns
about the financial health of the
industry, which is not expected
to see a recovery until at least
the second half of 2009.

A number of stores, including
J.C. Penney Co. and Nordstrom
Inc., cut their profit outlooks as

they slashed prices on every- -

thing from coats to holiday
ornaments ina desperate bid to
pull in shoppers. Analysts
expect a do-or-die holiday sea-
son for more retailers, which
have already seen competitors
like Mervyns LLC and Linens
'N Things forced to liquidate.
As merchants reported dis-
mal sales figures Thursday,
the





Ric Francis, file/AP Photo

; IN THIS OCT. 2, 2008 file photo, a shopper strolls pass the ten dollar toys

on display at a Wal-Mart Supercenter in Rosemead, Calif. Wal-Mart
Stores Inc., the world’s largest retailer, said Thursday, Nov. 6, 2008, its
low-price focus and sales of Halloween merchandise boosted. October
same-store sales by 2.4 percent, ahead of expectations.

. world's largest retailer, was
’ among the few bright spots as it

benefits from shoppers focus-
ing on basics. The discounter
plans to cut prices on thousands
of items over the next seven
weeks.

But most other stores, from

luxury merchants to teen retail-
ers, suffered steep sales declines
as consumers were spooked by
shrinking retirement funds and

volatile markets. The number

of people continuing to receive
jobless benefits reached its high-
est level in more than 25 years,



es in October

according to government fig-
ures released Thursday.

Even warehouse club opera-
tor Costco Wholesale Corp.,
which sells items like TVs along
with basics, posted disappoint-
ing results. "Wal-Mart's solid
performance is reflective of the
weakness in consumer spend-
ing," said Ken Perkins, presi-
dent of research company
RetailMetrics LLC. "As soon
as the financial crisis hit, con-
sumers spending dropped dra-
matically. ... Consumer spending
ground to a halt in October."

Michael P. Niemira, chief
economist at the International
Council of Shopping Centers,
described October's perfor-
mance as "awful."

"This reflects the severity of
the current financial crisis," he
said.

According to the ICSC-Gold-
man Sachs index, sales fell 0.9
percent, the weakest October
performance since at least 1969
when the index began. That

compares to a 1 percent gainin -

September and well below the
1.8 percent average pace so far
this fiscal year, which for retail-
ers begins in February.

- Excluding Wal-Mart, the

. October sales number was



down 4.6 nefenk The j index is
based on same-store sales, or
sales at stores opened at least a
year, which are considered a
key indicator of a retailer's
health.

Wal-Mart posted a 2.4 per-
cent gain in same-store sales,
better than the 1.6 gain project-
ed by analysts surveyed by
Thomson Reuters. Including
fuel sales, same-store sales rose
2.5 percent.

Target Corp. — which has —

lagged behind Wal-Mart
because of its heavier empha-
sis On nonessentials — posted
a 4.8 percent drop, worse than
the 2.8 percent decline that ana-
lysts had expected.

"We expect the recent chal-
lenging sales environment to
continue into the holiday sea-
son and beyond as a result of
the economic factors currently
affecting consumer spending,"
Target's President and Chief
Executive Gregg one said
in a statement.

- Costco, hurt by currency
effects, reported a 1 percent
decline in October, below the
3.6 percent gain Wall Street
projected.

Among department stores,
Penney reported a 13 percent

IN THIS JUNE 5,
2008 file photo,
Target shopping
wus) Carts shown at a
Â¥3| Target store in

j) Redwood City,
» | Calif.

Paul Sakuma,
file/
AP Photo

drop in same-store sales at its
department store business, bet-
ter than the 13.2 percent decline
predicted. Macy's Inc. report-
ed a 6.3 percent drop for Octo-
ber. No estimate from Thom-
son Reuters was available.

Luxury stores reported steep
declines as affluent shoppers cut
back on designer clothing.
Nordstrom's 15.7 percent drop
in same-store sales was worse
than the 13.1 percen’ lecline
expected. Saks Inc. recorded'a
16.6 percent drop, mc re than
the 11.8 percent decrease pre-
dicted.

Gap Inc.'s 16 percent drop
was worse than the 11.1 percent:
decline Wall Street h d fore-
cast. ..

The retailer reaffirmed its
profit outlook for the third
quarter, however, as it focused
on inventory control.

Limited Brands Inc. report-
ed a 9 percent drop in October,
a bigger decline than the 7.2
percent analysts were expect-
ing. Even teens stayed away
from malls. American Eagle
Outfitters Inc. reported a steep-
er-than-expected 12 percent
drop in same-store sales, while
Abercrombie & Fitch Co. had a
20 percent drop.

Productivity growth slows

in 3Q as economy shrinks

ion

Ron Edmonds/AP Photo



lm By JEANNINE AVERSA
AP Economics Writer
WASHINGTON

The efficiency of U.S. workers slowed sharply
in the summer as a huge pull back by American
consumers threw the national economy into
reverse, according to the Associated Press.

The Labor Department reported Thursday
that productivity — the amount an employee
produces for every hour on the job — grew at
an annual pace of 1.1 percent in the July-to-
September quarter, down from a 3.6 percent
growth rate in the second quarter.

With productivity growth slowing, labor costs
picked up. Unit labor costs — a measure of
how much companies pay workers for every
unit of output they produce— increased at a 3.6
percent pace in the third quarter, compared
with a 0.1 percent rate of decline in the prior
period.

Worker productivity:growth slowed as over-

all production, or output, declined, reflecting

the hit to consumers and the economy as a
whole from the housing, credit and financial
debacles.

In the latest sign of the ailing job market,
the number of people continuing to draw
unemployment benefits jumped by 122,000 to
3.84 million in late October, a separate report

from the department showed. It was the high-,
_ est level since late February 1983, when the

country was struggling to recover from a long
and painful recession. New filings for jobless
benefits last week dipped to 481,000, a still-
elevated level that suggests companies are in a
cost-cutting mode.

The 1.1 percent productivity growth logged in
the summer beat economists' expectations for
a 0.8 percent growth rate. The pick up in labor
costs— while welcome to workers — was faster

1 FRANKFURT, Germany

The European Central Bank has cut its
key rate by half a percentage point to 3.25
percent, joining the Bank of England, Swiss
and Czech central banks as they confront
the looming recession, according to the Asso-
ciated Press.

The ECB announced the cut of half a per-

centage point from 3.75 percent on Thursday »

shortly after the Bank of England lowered its





EDWARD ! AZEAR,
’Chairma.. of the
President’s Coun-
cil of Economic
Advisers, briefs
‘reporters, Thurs-
day, Oct. 30, 2008, -
in the White House
briefing room in
Washington, on the
Commerce Depart-
ment’s report that

product, or GDP, -
decreased at a 0.3
percent annual rate
in the July-Sep-
tember quarter.

than the 2.8 percent pace economists were i
forecasting. Economists often look at labor

‘compensation for clues about inflation. These

days, however, the Federal Reserve and ana--
lysts are more concerned about.the eco-omy's:
feeble state. Whilc the pick up in labu. costs
might raise some economists’ eyebro’ 's, the
Fed is predicting inflation pressures will lessen
as the economy loses traction.

The 1.1 percent productivity gain v was the
smallest since the final quarter of last year,
while the increase in labor costs was the iggest
since that time.

Hoping to prevent a deep recession, the Fed-

" eral Reserve last week ratcheted down interest

rates last week to 1 percent and left the door
open to further reductions.

The country's economic state has rapidly
deteriorated in the course of just a few months.
The economy contracted at a 0.3 percent pace
in the July-to-September quarter, signaling the
onset of a likely récession. It was the worst
showing since the the last recession, in 2001,
and reflected a massive pull back by consumers.

With the economy sinking and consumers
appetites flagging, employers have slashing
jobs. They are expected to cut around 200,000
jobs when the government releases the October
employment report on Friday. The unemploy-
ment rate — now at 6.1 percent — is expected
to climb to 6.3 percent in October.

As American consumers watch jobs disap-
pear and their wealth shrink, they'll probably
retrench even further.

That's why economists predict the economy.
is. still shrinking in the current October-to-
December quarter and will continue to contract
during the first quarter of next year. All that
more than fulfills a classic definition of « seces-
sion: two straight quarters of contracting eco-
nomic activity. ,

‘cut rates

key interest rate by a startling 1.5 percentage
points to 3 percent.

The Bank of England's cut was more than
than the full percentage point that most ana-
lysts had predicted.

The Swiss National Bank has cut its key
interest rate by half a percentage point to 2)
percent, only its second reduction since
March 2003. In Prague, the Czech: Republic's
central bank cut its interest rate by three-
quarter percentage point to 2.75 percent.

’

“gross domestic —



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