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:
2009
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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7, Lhe Tribune

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christ icin
as PLP leader

Former PM
secures a
reported
84% of vote

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

SECURING a reported 84
per cent of the vote, former
Prime Minister Perry Christie
was re-elected as leader of
the Progressive Liberal Party
yesterday in the largest
turnout the party has seen in
years at any national conven-
tion.

Thumping his colleague
and former leader of Opposi-
tion Business Dr Bernard
Nottage, Mr. Christie. also
defeated PLP newcomer Paul
Moss who came in third in
the’ race securing only a hand-
ful of votes, according to
reports from the convention
floor.

Thanking the party dele-
gates and PLP stalwart coun-
cillors for yet another oppor-
tunity to lead them, Mr
Christie said that now is the
time for the PLP to come
together and conduct itself in
a “mature” fashion.

SEE page 12

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Patrol car responding to call
collides with cement truck

A POLICE officer was killed and two
others injured when their patrol car col-
lided with a cement truck yesterday.

The three officers were responding to
reports of a major disturbance in the
Sunshine Park area when the crash hap-
pened. Assistant Commissioner of Police
Hulan Hanna said that as is standard
procedure, the unit’s siren and beacon
lights were on.

According to reports, the patrol car
was travelling east on Carmichael Road
as a small white car was pulling out of
Fire Trail Road.

It is understood the patrol car had to

_take evasive action to avoid crashing into

the car. A cement truck, however, was

mreynolds@
tribunemedia.net



travelling west, inithe opposite lane,
when the patrol car collided into it. The

incident happened at about lpm

One of the officers, the front seat pas-
senger, died at the scene, while two oth-
ers were taken to hospital. The driver of
the cement truck escaped without
injuries.

Although police have not-confirmed
the identity of the victim, The Tribune
has been informed he is Othello Darville,
a married father of two children.

“On behalf of the Commissioner of
Police and all police officers, I want to
extend condolences to the family of our

SEE page eight



PLP MP Picewell Forbes will appear before Senior
Justice Anita Allen today to explain why he should not
be held in Contempt of Court.

The South Andros MP announced at the Progressive
Liberal Party convention on Wednesday night how PLP
Senator Pleasant Bridgewater had been acquitted of

SEE page eight





Felipé Major/Tribune staff

Picewell Forbes.
to appear before
Senior Justice

By MEGAN REYNOLDS
Tribune Staff Reporter



Davis takes
PLP Deputy
Leadership

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

MP FOR Rum Cay, ‘Cat
Island and San Salvador,
Phillip “Brave” Davis yester-
day saw his intensive cam-
paigning throughout the
Bahamas pay off as he
scooped the Deputy Leader-
ship of the Progressive Lib-
eral Party at its national con-
vention.

According to unofficial
results, Mr Davis - who
received the public support
of incumbent Deputy Leader
Cynthia “Mother” Pratt prior
to the convention - won
around 760 votes, while MP
for West End and Bimini

SEE page eight
FNM hits
back at

PLP over
economy

THE PLP’s attempts to
blame the downturn in the
economy on the FNM shows
how desperate they are,
according to the governing
party.

In a statement issued last
night, the FNM said the glob-.
al economic crisis was not cre-
ated in the Bahamas, and that
the impact on the public has
been eased by the govern-
ment’s response.

“Frustrated by their own
state of disarray and anxious
to find an issue they can
exploit in the next general
election, PLP leaders persis-
tently try to blame the FNM
for the downturn in the econ-

SEE page 12



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PAGE 2, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 3



PLP CONVENTION COVERAGE



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

AMID some controversy
over his eligibility as a can-
didate, late comer to the
race for PLP national chair-
man Bradley Roberts yes-
terday regained the reins of
what. some call the most
important office in the pat-
ty at the PLP convention.

Despite initial contention
over whether or not he was
nominated in the correct
fashion, Mr Roberts capi-
talised on his past profile as.
“Big Bad Brad” - the polit-
ical fighter with a loud voice |
- defeating incumbent chair-
man Glenys Hanna-Martin,
along with contenders Keod
Smith and Kenred Dorsett.

While early reports from
Mr Smith’s camp indicated
that he might challenge the
outcome of the vote given
that Mr Roberts was not

nominated by a-registered .

delegate, later in the day
Mr Smith was less combat-
ive, suggesting he would
leave the matter up to the
Rules and Credentials
Committee of the party to
determine.

Meanwhile, both Ms
Hanna Martin and Mr
Dorsett suggested that the
party had made its choice
clear in voting for Mr
Roberts and while there
were some initial concerns
over the manner in which.
he was nominated, they
would now wish for the
organisation to focus onâ„¢
party business and not
engage in internal feuds.

Mr Roberts was the last
person to enter the Chair-
manship race, publicly
announcing his intention to
enter the race only last Sun-
day.

At that time he revealed
that he had been called
upon by party members to
return to frontline politics

NEM acc LNe aot



who they wanted for Chair-
man.
. “T_pledge to them (those

who voted) and the mem-

bers of the PLP that I will

work even harder than.I did .

when I was previously
Chairman of this party to
ensure that» the PLP is
returned to the government
of this country under the
able leadership of Perry.
Gladstone Christie and with
Brave Davis as his deputy,”
Mr Roberts said.

The 65 year-old former
MP and cabinet minister
said that he is first of all
committed, like leader and
deputy leader elect Perry
Christie and Phillip Davis,

to unifying and’strengthen-.

ing the party.
' He added that reorganis-
ing and reenergising the
branches of the party will
also be critical in the com-
ing months and years.
“They are a key compo-
nent of the party and we
have to make sure we have
them in every nook and



Election for PLP top
posts may be contested

By MEGAN REYNOLDS
Tribune Staff Reporter

mreynolds@tribunemedia.net -

YESTERDAY’S elec-
tion to determine who will
hold the top posts in the
PLP may be contested
over suspicions ‘of manipu-
lation of the voting

_ process.

Leadership candidate
Paul Moss was outraged
when he had still not

AC OOS

“We have to ensure that
our people are battle ready
for whenever Hubert Ingra-
ham rings the bell (for the
next election)”, said Mr
Roberts.

Mr Roberts, who formal-

_ly stepped down from front-

line politics in 2007 when
he decided not to run in the
general election, said that
he did not in the interven-
ing two years “sit down and
put (his) head down” but
stayed in touch with the day
to day business of the party
and as such is in a good
position to step in as Chair-
man.

He thanked Ms Hanna
Martin for her contribution.
“T love and I want to thank
her...and now that she is
moving on I hope she will
return to her constituency
that she loves and will give
her full support to the peo-

ple of Englerston.”

On her part, Ms Hanna
Martin said she was “per-
sonally disappointed” about

Selected

received the official regis-
ter of voting delegates as
they marked their ballots
yesterday afternoon.
Without the register, Mr

‘Moss said candidates can-

not be sure whether non-
financial delegates — who
aré not permitted to vote —
are involved. in choosing
future party leaders.

The PLP newcomer said
he was embarrassed by the
irregularity of the voting

the result of the vote that

toppled her, but she
realised that. the. “conven-
tion has spoken” and the
outcome is clear.

“The party has collec-
tively determined the way.
forward and I accept that,
so I am disappointed per-
sonally but not fundamen-
tally,” said Ms Hanna Mar-
tin.

She said she would now
focus:on other areas of her
life, such as her constituen-
cy and parliamentary work.

Winning the posts of
National Vice Chairman
were: Melissa sears, Kevin
Ferguson, Ryan Pinder,
Omar Armbrister and
Randy Rolle.

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process and is prepared to
contest the result, whatev-
er it may be.

Mr Moss was the first to
announce his intention to
fight the incumbent Perry
Christie for the position of
party leader in September,
and his announcement was
followed by that of Bain

and Grants Town MP

Bernard “BJ” Nottage, the

third candidate for the top |

post, on October 15.

Mr Moss and other can-
didates expected to receive
the list of voters at 7pm on
Wednesday, and when he

‘had not received it as the

first day of the 51st PLP
convention drew to a close
just before midnight, he

-wrote to election commit-

tee supervisor Valentine
Grimes to request it.

Delegates

The party leader hope-
ful claims Mr Grimes con-
firmed non-financial dele-
gates were in fact included
in the voting process,
which he said is not only
an error but also a breach
of the party's constitution.

Mr Grimes declined to
comment on the matter
and had not responded to
Mr Moss as the voting got
underway yesterday after-
noon.

Mr Moss said: “It seems
to me whatever the out-
come of this election, once
the votes are counted, it
can only be an exercise of
formality.

“This is not the proper

process and I am embar-_

rassed as a candidate that
we could not get this right.

“T am not the only one
affected by this, but 1 am

prepared to stand against it

in the name of our fathers
who formed the constitu-

_ tion set to eradicate this

kind of injustice in our
election process.”

Mr Moss said he had
written to the election
committee supervisor on
October 1 to ensure the.
register of voters would be
provided to candidates
well in advance and he was
disappointed to have been .
denied both the list and an
explanation yesterday.

Candidate

He added: “They know
any candidate for any elec-
tion must scrutinise the list |
to make sure only eligible
voters can vote.

“Right now I don’t know ©
who’s voting and I was.
supposed to have the list
well in advance.

“They have shown. a bla-
tant disrespect for the
process without regard for
the constitution and when
that happens, it’s absolute

‘ chaos.”

In addition to Mr Moss,
Mr Nottage and Mr
Christie, deputy leader
candidates Philip “Brave”
Davis, MP for Cat Island,
Rum Cay and San Sal-
vador; Senator Jerome
Fitzgerald; and West End
and Bimini MP Obie
Wilchcombe, might be
affected. ,

_ Voting delegates also
made’ their choice for
national chairman of the
party between former MP

_ Bradley Roberts, the par-

ty’s national deputy chair-
man Kendred Dorsett, for-
mer MP Keod Smith and
incumbent national chair-

woman, Englerston MP ,

. Glenys Hanna-Martin. _

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PAGE 4, FRIDAY, OCTOBER 23, 2009

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

WEBSITE
www.tribune242.com — updated daily at 2pm

Insurgents pursue different goals

WASHINGTON — As it devises a new
Afghanistan policy, the Obama administration
confronts a complex geopolitical puzzle: two
embattled governments, in Afghanistan and
Pakistan; numerous militias aligned with over-
lapping Islamist factions; and hidden in the
factions’ midst, the foe that brought the Unit-
ed States to the region eight years ago, al-Qai-
da. But at the core of the tangle are the two
Taliban movements, Afghan and Pakistani.
They share an ideology and a dominant Pash-
tun ethnicity, but they have such different his-
tories, structures and goals that the common
name may be more misleading than illuminat-
ing, some regional specialists say.

“The fact that they have the same name
causes all kinds of confusion,” said Gilles Dor-
ronsoro, a French scholar of South Asia cur-
rently at the Carnegie Endowment for Inter-
national Peace in Washington.

This week, Dorronsoro said, as the Pakistani
army began a major offensive against the Pak-
istani Taliban, many Americans thought incor-
rectly that the assault was against the Afghan
Taliban, the force that is causing Washington to
consider sending more troops to Afghanistan.

At stake is not just semantics. Grasping the
differences between the two Taliban forces,
and their shifting relationships with al-Qaida, is
crucial to understanding the debate under way
in the White House situation room. Though
both groups threaten American interests, the
Afghan Taliban — the word Taliban means
“religious students” — are the primary ene-
my, mounting attacks daily against the 68,000
American troops in Afghanistan. Washington’s
biggest fear is that if the Afghan Taliban over-
run the country, they could invite al-Qaida’s
leaders back from their Pakistani hide-out.
Alex Strick van Linschoten, a Dutch researcher
who lives in Kandahar, in the heart of the
Afghan Taliban’s power base, said that while
leaders of the two Taliban groups might say
that they share common interests, the two
movements are quite separate.

“To be honest, the Taliban commanders and
groups on the ground in Afghanistan couldn’t
care less what’s happening to their Pakistani
brothers across the border,” said Strick van
Linschoten, who has interviewed many cur-
rent and former members of the Afghan Tal-
iban. In fact, the recent attacks of the Pak-
istani Taliban against Pakistan’s government,
military and police, in anticipation of the army’s
current campaign into the Pakistani Taliban’s
base in South Waziristan, may have strained
relations with the Afghan Taliban, said Richard
Barrett, a former British intelligence officer
who tracks al-Qaida and the Taliban for the
United Nations.

The Afghan Taliban have always had a close
relationship with Pakistani intelligence agen-
cies, Barrett said recently. “They don’t like the
way that the Pakistan Taliban has been fighting
the Pakistan government and causing a whole
load of problems there,” he said.

The Afghan Taliban, whose group is by far
the older of the two forces, have been led by

Mullah Muhammad Omar since he founded
the movement in 1994. They seek to regain
the power they held over most of Afghanistan
before being ousted by the American invasion
of 2001. In an interview this week, speaking
on the condition of anonymity, an Afghan Tal-
iban commander expressed sympathy for the
Pakistani Taliban, but said, “There will not be
any support from us.” He said the Afghan Tal-
iban “don’t have any interest in fighting against
other countries.”

“Our aim was, and is, to get the occupation
forces out and not to get into a fight with a
Muslim army,” the commander added.

Before 9/11, the Afghan Taliban hosted
Osama bin Laden and the other leaders of al-
Qaida, but the groups are now separated geo-
graphically, their leaders under pressure from
intensive manhunts. On jihadist Web sites, ana-
lysts have detected recent tensions between
al-Qaida, whose proclaimed goals are global,
and the Afghan Taliban, which have recently
claimed that their interests lie solely in
Afghanistan. Dorronsoro, the French scholar,
said the Afghan Taliban were a “genuine
national movement” incorporating not only a
broad network of fighters, but also a shadow
government-in-waiting in many provinces.

By comparison, he said, the Pakistani Taliban
were a far looser coalition, united mainly by
their enmity toward the Pakistani government.
They emerged formally only in 2007 as a sepa-
rate force led by Baitullah Mehsud under the
name Tehrik-i-Taliban Pakistan, or Students’
Movement of Pakistan.

After Mehsud was killed by an American
missile in August, a fellow tribesman, Hakimul-
lah Mehsud, took over after a period of jock-
eying for power in Pakistan’s tribal areas.

Another complication for regional termi-
nology: Most leaders of the Afghan Taliban
are based in Pakistan, directing their forces
from hide-outs across the border. Omar and his
top deputies are believed to be in or around the
southern Pakistani city of Quetta. Two other
major factions in the Afghan insurgency are
led by veteran Afghan warlords, Jalaluddin
Haqgani and Gulbuddin Hekmatyar, who are
in Pakistan’s tribal areas, where the Pakistan
Taliban is strongest. Al-Qaida’s leaders, includ-
ing bin Laden, are believed to be hiding in the
same tribal areas of Pakistan. While it has been
weakened by American missile strikes, the ter-
rorist network nonetheless is believed to have
provided support for the Pakistani Taliban’s
strikes against the Pakistani government.

For the United States, regional experts say,
the long-term challenge is to devise policies
that peel away as many militants as possible
from both Taliban forces, isolating al-Qaida
and other hard-liners and strengthening the
Pakistani and Afghan governments. But for a
non-Muslim superpower, widely resented in
the region, that is a tall order.

(This article is by Scott Shane
c.2009 New York Times News Service)







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Bishop Simeon
Hall and the
Memorial Wall

EDITOR, The Tribune.

I support the initiatives of
Bishop Simeon Hall as it
relates to the construction
of the memorial wall that is
located on the grounds of
the New Covenant Baptist
Church, Independence
Highway.

The wall’s structure is sig-
nificant and it’s truly a beau-
tiful symbolic tool in
remembrance of our loved
ones whose lives have ended
in horrific and unjust fash-
ions.

Nevertheless some words
on the wall are controver-
sial and oppose the Christ-
ian belief and it belittles our
supreme God because it is
used out of its original con-
text; “our father which art
in heaven is a jealous God.”
This error is despicable and
those who suggested the use
of the Revelation 7:17 as a
header for this innovative
wall must make the neces-
sary corrections to insure
biblical validity.

The writing on the wall
states “...And God shall
wipe away all tears from
their eyes...... Revelation
7:17. Now the full verse of
Revelation 7:17 states. For
the Lamb which is in the
midst of the throne shall
feed them, and shall lead
them unto living fountains
of waters: and God shall
wipe away all tears from
their eyes.” Using of this
biblical scripture with names
of the deceased attached to
it misleads Jesus Christ’s
Gospel; those who con-
structed the wall are saying
they have the power to
judge souls. This scripture is
talking about the congrega-
tion in heaven. How do we
know that all of the individ-
uals on that wall are going to
heaven? Scripture reveals

LETTERS

letters@tribunemedia.net



that Jesus is judge through
God the almighty.

Psalms 50:6, states “and
the heavens shall declare his
righteousness for God is
judge himself.” Proverbs
29:26 states “Many seek the
ruler’s favour; but every
man’s judgment cometh
from the Lord.” Ecclesiastes
12:14 states “For God shall
bring every work into judg-
ment, with every secret
thing, whether it be good,
or whether it be evil.”

In The book of John the
fifth chapter versus 25-31
Jesus states:

25 “Verily, verily, I say
unto you, The hour is com-
ing, and now is, when the
dead shall hear the voice of
the Son of God: and they
that hear shall live.”

26 “For as the Father hath
life in himself; so hath he
given to the Son to have life
in himself;”

27 “And has given him
authority to execute judg-
ment also, because he is the
son of man.

28 “Marvel not at this: for
the hour is coming, in which
all that are in graves shall
hear his voice,

29 “And shall come forth;
they that have done good,
unto the resurrection of life;
and they that have done evil,
unto the resurrection of
damnation.”

30 “I can of mine own self
do nothing: as I hear, I
judge: and my judgment is
just; because I seek not mine
own will, but the will of the
father which has sent me.”

31 “If I bear witness of
myself, my witness is not
true.”

Isupport Mr Simeon Hall
and the construction of the
wall but the scripture of
Revelation 7:17 needs to be
replaced with something less
judgmental. In the book of
Corinthians Paul clearly
opposes the thought of judg-
ing others as well as self
judgment. This is the man
who wrote two thirds of the
New Testament. He states
in 1 Corinthians 4:3-6

(3) “But with me it is a
very small thing that I
should be judged of you, or
of man’s judgment: yeah, I
judge not my own self.”

(4) “For I know nothing
by myself; yet am I not here-
by justified: but he that Jud-
geth me is the Lord.” 5
“Therefore judge nothing
before the time, until the
Lord come....... ”

Now I cannot throw
stones at any man (human
race) because “we all were
born in sin”. Matthew 7, ver-
sus 1-2 is relevant for judg-
ing the way others live their
lives, but I am not judging, I
am giving biblical justifica-
tion that Jesus is the judge of
our souls. Nevertheless
when a man takes on the
role of Jesus Christ, I could
care less even if he carries
the title Bishop, he is out of
order and his decision mak-
ing needs to be realigned to
the word of God.

Bishop, I know that the
idea was harmless but we as
believers mislead people
when we make careless mis-
takes, correct it please!

ELKIN
SUTHERLAND Jr
Nassau,

October 2009.

Marital rape bill: Religious
leaders need to speak up

EDITOR, The Tribune.

One of the most talked
about issues in The
Bahamas today is the rape
bill as many refer to it.

In high schools, colleges,

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on the job, in church board-
rooms and everywhere else
imaginable both men and
women, young and old are
discussing the proposed
amendments to the Sexual
Offences Act.

Some of our religious
leaders have come out in
support of it and some have
said openly that they dis-
agree with it.

There are many times
when government should
seek the advice of the
church and this is one of
them, but in my opinion the
church has been silent on so
many issues that they should
have spoken out on that
many people are wondering
if many of the religious lead-
ers themselves are hiding on
this one.

This particular piece of
legislation needs much con-
sultation and I must applaud
the government on how they
are dealing with it, by going
from place to place includ-
ing our Family Islands to
have discussions and dia-
logue with the masses.

T agree with some parts of
the new amendment and
chose to disagree with some
parts of it.

Let's look at one of the
main points where an issue
arises for me.

Presently, a spouse can-
not report another for rape.
With the new legislation an
incident happens with my
spouse and she conjures in
her mind that she is going
to get back at me for some-
thing I did.

She can wait two years
before the incident is statute
barred, so she can report me
for rape to the police?

I truly believe the police
will do its investigation, but
the interrogation they will
put me through will cause

embarrassment to me and
my integrity that may never
be able to fix, depending on
where they pick me up or
who picks me up.

Never mind what is being
said that proper investiga-
tion will be conducted and
the spouse reporting the
incident will have to prove
that an offence took place.
This bill could lead to more
family violence, because
when the spouse is allowed
to leave the station, he may
head directly for the accuser
and may cause bodily harm
or even murder.

The government, the
Crises Centre and all
involved should think hard
and long on this one.

We call ourselves a “Chris-
tian nation’; do we really
know what we are saying?
As a Christian nation, we
should be able to work out
these situations and live
together in peace and uni-
ty.
The Crises Centre, the
church and the government
need to all sit down around
the round table and proper-
ly trash this bill out, so that
we do not make the major
mistakes or leave any stone
unturned.

Speak up religious lead-
ers, like the Catholics and
the Seventh-Day Adventists,
speak with one voice not
one here and one there,
come together and work this
one out, before we have
more chaos in the land.

CURTIS BRYAN
Nassau,
October, 2009.



PAGE 8, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



LOCAL NEWS



Police officer
is killed
in collision

FROM page one

fallen colleague. We want to thank the family for allowing
him to serve in such a noble way,” Mr Hanna said.

He also extended his thanks to the members of the pub-
lic who helped the officers after the crash.

Police have launched an investigation into the crash, and
are asking for the public’s assistance with information
regarding the white car involved in the accident.

OTHELLO DARVILLE was a married father of two children.



Picewell Forbes

to appear before
senior Justice

FROM page one

attempted extortion charges
against Hollywood actor John
Travolta.

Excited delegates jumped on
their chairs and danced to “Oh
Happy Day!” to celebrate
Bridgewater's alleged acquit-
tal as Mr Forbes exclaimed:
“Pleasant is a free woman
PLPs! Pleasant is a free woman
PLPs! God is good PLPs!
Pleasant is a free woman! God
still reigns PLPs!”

The outburst was broadcast
live on national television and
radio while the jury was still in
deliberations at 9.30pm.

Senior Justice Allen
declared a mistrial less than
two hours later as she said:
“We are very concerned, in the
interest of justice, that it does
not appear that there has been
a communication from the jury
room. Justice must not only be
done, but seen to be done.”

Mr Forbes was allegedly
questioned by police on

Wednesday night, but his attor-
ney Anthony McKinney of
McKinney, Turner and Co,
said he was not aware of any
police involvement.

Mr McKinney visited Senior
Justice Allen at her court yes-
terday morning and agreed to
appear in court with Mr Forbes
at 10am today “with a view to
answering the question as to
why he should not be held in
Contempt of Court,” Mr McK-
inney said.

Mr Forbes’ attorney told
The Tribube how the MP had
not had any communication
with the jury but had heard the
news on the convention floor
before he shouted it out on
stage.

The attorney said: “I expect
you will understand there was
no intention on his part to do
anything that could be con-
strued to be calculated to con-
trovert the proceedings before
the judge.”

Mr McKinney maintains Mr
Forbes’ premature announce-
ment was an innocent act as

Share your news

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

you are raising funds for a
good cause, campaigning
for improvements in the
area or have won an
award.

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



he was simply repeating some-
thing he had heard on the con-
vention floor.

He said: “He took the
moment. He was in an accel-
erated mood in the party and
events being what they are... it
wasn't something that he sat
down and contrived.

“Tt produced a result that
nobody wanted of course, and
if it had any intent in it, it
would be egregious, but having
no intent it cannot be egre-
gious.”

He added: “Any number of
circumstances could play into
how the information came into
the public domain, but I know
he did not in any way con-
tribute to the rumour becom-
ing a part of what he eventual-
ly announced.

“He is innocent in that
regard.”

Incumbent party leader Per-
ry Christie refrained from com-
ment when asked about the
matter yesterday.

He said the party maintains
the official statement released
by the PLP on Wednesday.

The statement reads:
“(Wednesday) evening in the
course of an address at our
annual national general con-
vention, it was announced that
former Senator Pleasant
Bridgewater had been acquit-
ted.

“The announcement was
incorrect.

“We give an unqualified
apology.

“This was not intended to
interfere with the administra-
tion of justice.”

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PHILIP DAVIS is mobbed by supporters at the PLP convention.

Davis takes PLP Deputy Leadership

FROM page one

Obie Wilchcombe got 400 and Senator
Jerome Fitzgerald secured 200.

Having participated in what some said
was the most competitive race for deputy
leadership in the party’s history — a race
which some credited for attracting a record
turnout to the convention — Mr Davis said he
was “humbled and overwhelmed” by the
support he had received from stalwart coun-
cillors and delegates.

As the unofficial announcement that Mr
Davis had secured the deputy post was
relayed from the room where the ballots
were counted down to party supporters on
the ground floor of the hotel, the scene
erupted with supporters shouting with
delight and music blaring.

Supporters began chanting that the party
now represented “The Real CDR” - with
(Perry) Christie as leader, Davis as Deputy
and (Bradley) Roberts as Chairman — an
apparent jibe at unsuccessful leadership chal-
lenges and former leader of the Coalition
for Democratic Reform, MP for Bain and
Grants Town Dr Bernard Nottage.

When the MP reached the bottom of the
escalator surrounded by his fans — who have
been the most visible and vocal throughout
the convention, which began on Wednes-
day at the Wyndham Nassau Resort — he
was met and congratulated by PLP leader
Perry Christie and the pair were thronged by
supporters to the point that police had to
step in to ensure the safety of the politicians
in the dense crowd.

Mr Davis, who engaged in an extremely

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professional public relations campaign in
the run up to nominating, told the press that
he felt his victory was a result of “very hard
work” on the part of himself and his team.

Asked what he intends to do next, he
referred to the intention stated in his pub-
lished platform to “unify and strengthen”
the party.

Upstairs, Senator Fitzgerald thanked his
fans for their support, declaring that
although he felt he had successfully run a
“clean” campaign which “focused on the
issues of the country”, the party has spoken
and he would now “accept that and unite
behind the leader and the deputy” towards
seeing the party win the next general elec-
tion.

Nonetheless, he hinted that this would not
be his last attempt to secure a leadership
position in the party.

“Tam humbled by the love and support I
have received from so many people through-
out this country. You have taken me into
your homes, you have fed me, and I have lis-
tened to you very carefully and let me assure
you that this is only the beginning...

“God does everything in his own time.
God does not make a mistake...

“T want to assure you all that I am even
more determined...We will be back again,”
said Mr Fitzgerald, thanking his campaign
team and wider supporters.

Mr Fitzgerald was then joined by Mr
Davis, and the two embraced and congratu-
lated each other.

Absent from the proceedings was Mr
Wilchcombe, who was not spotted during
or after the ballot counting, which lasted for
over three hours.

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TRIBUNE SPORTS

FRIDAY, OCTOBER 23, 2009, PAGE 9



INTERNATIONAL SPORTS

For the best sporting o

www. inbune? 49. COR Sena:

&

Wallace helps
Celtics beat
Shaq and Cavs

By RUSTY MILLER
AP Sports Writer

COLUMBUS, Ohio (AP)
— The Boston Celtics rested
two-thirds of their Big Three.
Everybody else was up to the
task.

Eddie House scored 21
points as the Celtics rolled to
a 96-82 victory over the
Cleveland Cavaliers in a pre-
season game Wednesday
night.

"We got a win. We closed
the preseason out right,” said
House, who hit 8 of 14 shots
from the field including three
3-pointers.

Kevin Garnett and Ray
Allen didn't play for the
Celtics, coach Doc Rivers say-
ing before the game that he
had also asked Paul Pierce to
rest. Pierce, however, started
and played just over 13 min-
utes and scored 11 points.

"IT was just trying to stay
sharp,” Pierce said.

"We've got five, six days
before we play again. I
thought it was good for me to
go out there."

The two teams meet again
in the season opener on Tues-
day in Cleveland.

"IT don't care where it is
when you play the Cavs,”
Pierce said. "They're a team
that we probably are going to
have to go through in the
Eastern Conference. They're
going to be right up there at
the top if they stay healthy.
It'd be great to get a win in
that building.”

Marquis Daniels scored 17
points, Kendrick Perkins 13
and Rasheed Wallace 10 for
the Celtics (6-2). They were
on top 32-22 after a quarter
and never trailed again, lead-
ing by as many as 21 points
in the third quarter.

LeBron James scored 18
points, Shaquille O'Neal 16
and Anderson Varejao had
10 for the Cavaliers (3-4).

The

re ok


RASHEED WALLACE shoots during the first quarter of a preseason game against the New Jersey Nets...
(AP Photo: Bill Kostroun)



on Nets sale,
return of refs

By BRIAN MAHONEY
AP Basketball Writer

NEW YORK (AP) —
David Stern says the sale of
the New Jersey Nets to Rus-
sia’s richest man could be
approved by the end of the
year.

Stern said Thursday that
Mikhail Prokhorov, who has a
deal to buy 80 per cent of the
team, had a positive intro-
duction with NBA owners
during their two-day Board
of Governors meetings.

Prokhorov’s application is
currently under review and
the sale must be approved by
three-fourths of the league’s
owners.

Stern also says he’s hope-
ful the referees will approve a
new contract with the league
that would put them back to
work for the start of the reg-
ular season.

The commissioner also says
owners voted to give the
league office emergency pow-
ers to determine what hap-
pens if teams can’t field the
minimum eight players
because of illness.

Jazz pounce on Blazers, 108-97

By ANNE M PETERSON
AP Sports Writer

PORTLAND, Ore. (AP) — After
a dominating preseason win over the
Portland Trail Blazers, Carlos Booz-
er feels like the Utah Jazz are ready
for the regular season.

"We've got to tighten up some
stuff," he said. "We've got to take
care of that full-court press a little
better at the end of the game, I’m
sure we'll get over it tomorrow. But
for the most part, I think we did a
good job defensively, especially in
the half court. We did a good job of
helping each other."

Deron Williams had 27 points and
Boozer and Ronnie Brewer each
added 16 in Utah's 108-97 presea-
son victory over Portland on Tues-
day night.

The Jazz (4-2), missing Kyle Korv-
er and C.J. Miles because of injuries,
led by as many as 25 points.

"T don't have all our players here,
that's the thing that's always diffi-
cult,” coach Jerry Sloan said about
the impending season. "But we're
going to play anyway, and I've
always believed that if you come and
play hard as a team, you always have
a chance."

Jerryd Bayless had 16 points for
the Blazers (3-4), who overall
seemed both tired and out of sorts.
Brandon Roy had 15 points and
Travis Outlaw added 10, all in the
first quarter.

"We just looked like we hadn't
seen each other today,” Roy said.
"It's almost like a quarterback play-
ing with a receiver he's never played
with before.”

Utah center Mehmet Okur
returned after missing Sunday's vic-
tory over Charlotte with a sore back
and contributed five points.

The Blazers made a surprise move
when Juwan Howard started at for-
ward instead of LaMarcus Aldridge,

—= —

=Brought to yourby:

After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude



CARLOS BOOZER dunks in the first quarter of their preseason game...
(AP Photo: Rick Bowmer)

who had a left shin contusion and
was a last-second scratch. Howard
was acquired by Portland as a free
agent in the offseason.

Portland lost forward Nicolas
Batum early in the game with a hip
injury.

The Blazers were already without
center Greg Oden, who bruised his

thigh on Sunday in Portland's come-
from-behind victory over Denver.

Blazers swingman Rudy Fernan-
dez missed the game because of a
bad back, and coach Nate McMil-
lan said he's unlikely to play in the
preseason finale Thursday against
Phoenix in Vancouver, British
Columbia.



GREG ODEN can be seen during media day. After an inconsistent debut season, Oden
reinvented himself during the summer by shedding 15 pounds, adding a couple of

new moves and changing his attitude...

The Jazz led by as many as 13
points in the first quarter, jumping
on the dazed Blazers. About the
only spark for Portland was Outlaw,
but even that was short-lived.

Utah's dominance continued as
Kyrylo Fesenko's running jumper
extended the lead to 40-26.

The Jazz led 59-40 at halftime, and
Boozer's tip-in stretched the lead to
85-61 at the end of the third quarter.

Both teams pretty much sat their
starters for the final quarter.

The officials drew the ire of fans
—who chanted their displeasure —
with a few questionable calls, but
there was word earlier Tuesday that
the NBA's labor dispute with the
referees’ union may be drawing to a
close.

A person familiar with the nego-
tiations told The Associated Press
that the league has made a new pro-

(AP Photo: Don Ryan)

posal. The person, who requested
anonymity because the negotiations
are ongoing, said it's "highly likely”
the referees will be back for the
opening of the season.

The Jazz, who went 48-34 last sea-
son before falling to the eventual
NBA champion Los Angeles Lakers
in the first round of the playoffs, vis-
it the Sacramento Kings for the pre-
season finale before opening at Den-
ver on Oct. 28.

Portland won 54 games last season
but fell to the Rockets in the first
round of the playoffs. After wrap-
ping up the season against the Suns,
the Blazers open at home against
Houston next Tuesday.

Portland tried to acquire Utah for-
ward Paul Millsap in the offseason,
signing the restricted free agent to an
offer sheet. But the Jazz matched
the offer.



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM





PAGE 10, FRIDAY, OCTOBER 23, 2009

TRIBUNE SPORTS



SPORTS












































































ea
STAT

Commonwealth American
Football League (C.A.F.L.}
2009-2010 Schedule

Week 1

Saturday, 17th October —
Kingdom Warriors vs. Jets
Sunday, 18th October —
Pros vs. Stingrays
*R.B.D.F. Bye Week*

Week 2

Saturday, 24th October —
R.B.D.F. vs. Kingdom Warriors
Sunday, 25th October —

Jets vs. Stingrays

*Pros Bye Week”

Week 3

Saturday, 31st October —
Jets vs. Pros

Sunday, 1st November —
Stingrays vs. R.B.D.F.
*Kingdom Warriors Bye
Week*

Week 4

Saturday, 7th November —
Pros vs. R.B.D.F.

Sunday, 8th November —
Kingdom Warriors vs.
Stingrays

*Jets Bye Week”

Week 5

Saturday, 14th November —
Pros vs. Kingdom Warriors
Sunday, 15th November —
Jets vs. R.B.D.F.
*Stingrays Bye Week*

Week 6

Saturday, 21st November —
Jets vs. Kingdom Warriors
Sunday, 22nd —

Stingrays vs. Pros
*R.B.D.F. Bye Week*

Week 7

Saturday, 28th November —
Stingrays vs. Jets

Sunday, 29th November —
Kingdom Warriors vs. R.B.D.F.
*Pros Bye Week”

Week 8

Saturday, 5th December —
R.B.D.F. vs. Stingrays
Sunday, 6th December —
Pros vs. Jets

*Kingdom Warriors Bye
Week*

Week 9

Saturday, 12th December —
Stingrays vs.

Kingdom Warriors

Sunday, 13th December —
R.B.D.F. vs. Pros

*Jets Bye Week”

Week 10

Saturday, 9th January —
R.B.D.F. vs. Jets

Sunday, 10th January —
Kingdom Warriors vs. Pros
*Stingrays Bye Week*

Playoff Games

Saturday, 23rd January — Top
Seed #1 vs. Seed #4

Sunday, 24th January — 2nd
Seed #2 vs. Seed #3

C.A.F.L. CHAMPIONSHIP
GAME — New Providence
Saturday, 6th February 2010
Game time for regular season
games is 1:30pm

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RENALDO'S RAMBLINGS

By RENALDO DORSETT

Sports Reporter
renaldodorsett@yahoo.com



Be afraid of Tom
Brady, be very afraid

by RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

Last Week: 7-7

Week 7

New England Patriots

at Tampa Bay Bucs

We all learned valuable lessons this weekend. I
learned that because of a few select websites I may nev-
er go shopping for clothes in a store again, never to rely
on Santana Moss, and that Murphy’s Law is a complete
guarantee in Fantasy Football. The Bahamas learned
never to elect a DJ to the House of Assembly and
have him rise up the ranks of a political party...bad
things happen (You don’t see DJ Khaled elected to
Congress, Howard Stern will never be a Senator, Don
Imus can’t even go to New Jersey but our DJ’s — politi-
cians. Of course this makes sense in the Bahamas).
Despite it all, easily the most important lesson this
week — every man, woman and child learned not to
wane in their faith of Thomas Edward Brady. I am
now afraid...as should you be. We knew Brady and
Belichick love to make statements and flex their mus-
cles, but 59-0 was just ungodly. I can’t even do that on
Madden, on any level. The schedule gods follow up
with one of the few teams that could actually be worse
than the Titans. This is like if Ryan Reynolds divorced
Scarlet Johansson and his agent got him a date the
next weekend with Megan Fox. Do you know what
Ryan Reynolds would do with an opportunity like
that? We’re about to find out.

PATS over BUCS

Atlanta Falcons

at Dallas Cowboys

In one of the blackest cities in America, on a team
made up predominantly of black players, if the 25-
year-old second year quarterback, an average white guy
from Exton, Pennsylvannia got the nickname “Matty
Ice” and it sticks, and no one questions it, or even
does a double take when they hear it...then he has
done all he needs to do to earn their trust and mine. I
believe in you Matt Ryan.

FALCONS over COWBOYS

New York Jets

at Oakland Raiders

The greatest thing about sports is it gives us licence
to hate...emphatically...and without apology. Herein
lies the reason for my delight over the three game los-
ing streak which took the Jets from everyone’s sleeper
to a team in turmoil. This is great. It’s like waking up
every Sunday morning and watching the Pistons beat
the Lakers in game 5 five of the 2004 Finals (Kobe
cried, great television). ’'m not quite certain why I
hate them, but I do. It’s the Hatfield-McCoy feud for
the 21st century...we don’t question, we just participate.
How long do we give Jamarcus Russell before he’s
considered the next Ryan Leaf? The clock has to have
started by now right?

JETS over RAIDERS

San Diego Chargers

at Kansas City Chiefs

Three years ago this would have been touted as the
game of the week. Smashmouth football at its finest.
Two of the league’s top rushers going at it to determine
who gets to sit on the throne as the most elite back in
all of pro football. Now it'll be like watching Statler and
Waldorf (the two ornery disagreeable old men from the
Muppets Show) complain about everything from nag-
ging injuries, to young backs cutting into their carries,
to the weather...but if LDT calls Darren Sproles a
whipper snapper I’m changing the channel.

CHARGERS over CHIEFS

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Steven Senne/AP Photo



New England Patriots quarterback Tom Brady runs up
the field during an NFL football game against the
Tennessee Titans in Foxborough, Mass. After playing
inconsistently in the Patriots first five games, Brady
threw six touchdown passes in a team-record 619
yard attack in a 59-0 win over the Tennessee Titans.

Philadelphia Eagles

at Washington Redskins

From the time you start playing sports, coaches and
parents try their best to drill it into your head...one loss
is Just like any other loss. Coaches and parents lie.
After the Eagles lost to the Raiders and the Redskins
lost to the Chiefs, it will be apparent that one loss is not
like the others. There are some that are just too con-
fusing, too ugly, too baffling to get over. Both these
teams suffered those kinds of losses this last weekend,
season’s done. Off topic...with McNabb struggling,
Campbell on the ropes, and JaMarcus Russell clearly
the next Ryan Leaf, are black quarterbacks pretty
much done? Vince Young still rides the bench on an 0-
6 team, Michael Vick may never start again, both guys
in Tampa Bay are horrendous so just leaves...David
Garrard. David Garrard, the new premier black quar-
terback!

EAGLES over REDSKINS

New Orleans Saints

at Miami Dolphins

..And years later, later Drew Brees is still bitter.
This week he cited the Dolphins and specifically Nick
Saban's lack of faith in him saying they did not believe
in his shoulder. We all know how the story goes, Mia-
mi gets Daunte Culpepper and the Saints got Brees
who has been a pillar in the Saints community and
one of the best at his position on the field, while the
Dolphins fought through some of the darkest days in
league history.

They meet Sunday with the Saints wanting to send
another message to the league that they can go on the
road and dominate and as an up and coming team
they've passed every test thus far.

The Dolphins still fresh off defeating what now looks

a lle a otha

falde LP Opec of Trcgortoes,

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to be 2 mediocre teams and maybe armed with their
best QB since Marino retired want to send their own
message they're not just the Wildcat but this is a real
team and now with a real offense. This may not be the
game of the week but everyone has something to prove.
Let's hope it's unseasonably warm in Miami on Sunday
and the cold front is long gone
DOLPHINS over SAINTS

Arizona Cardinals

at New York Giants

Is Arizona quietly having the most underwhelming
season of any defending conference champion ever?
Probably not, but they have to be considered the most
difficult to notice 3-2 team in the league right now.
All that and they have face a team that just came off a
crushing loss that knocked them down a peg on the
NFC totempole.

GIANTS over CARDINALS

Minnesota Vikings

at Pittsburgh Steelers

The Vikings are approaching the “team of destiny
label,” with two last second wins under their belts just
six weeks into the season. That being said, does Adri-
an Peterson really need destiny on his side? He already
has

VIKINGS over STEELERS

Buffalo Bills

at Carolina Panthers

Remember when Terell Owens was relevant?
Remember when the Panthers threw to Steve Smith?
Remember when Jake Delhomme was a Pro-Bowl
quarterback? Remember when Buffalo almost beat
the Patriots in week one and everyone scrambled to
claim them as the number one “sleeper”?

PANTHERS over BILLS

Green Bay Packers

at Cleveland Browns

When the best player on your team is your kick
returner, you trade away your two best receivers and
you wear Brown pants, the probability of a successful
season is eerily slim.

PACKERS over BROWNS

Indianapolis Colts

at St. Louis

The good thing about the Rush Limbaugh story is
that it gave the Rams at least minimal relevance. With
that gone, what are we supposed to discuss about the
Rams? Donnie Avery’s emergence as the worst num-
ber one receiver in the league? How long will Stephen
Jackson keep his dreadlocks? Should they move back
to Los Angeles?

COLTS over RAMS

San Francisco 49ers

at Houston Texans

Michael Crabtree is finally playing! Effect it'll have
on coverage of the game 10-10...effect he’ll have on the
game 0-10.

TEXANS over 49ERS

Chicago Bears

at Cincinnati Bengals

Everyone loves the revenge game. In this case
though, the revenge should come from the Bears
defence. They picked Cedric Benson fourth, they
believed in him so much that they released Thomas
Jones...and he bombed. Two years later the Bears gave
up on Benson and he latches onto the Bengals only to
finally show flashes of what they thought he could
become. My only regret is that Brian Urlacher won’t be
there to hit him in a real game situation.

BEARS over BENGALS

Packers’ Green
says family strife
affected his focus

GREEN BAY, Wis. (AP) — Green Bay Packers running
back Ahman Green says injuries weren’t the only thing that
kept him from living up to expectations in Houston.

Green, who signed a deal to return to Green Bay on Wednes-
day after being cut by the Texans in February, says emotional
turmoil within his family affected his ability to focus on football
the past two seasons.

Green says his relationship with his daughters was “on the
rocks,” and he was hit hard by the death of his father.

But Green now says his relationship with daughters Ahmani,
12, and Myahni, 7, has greatly improved and he is completely
focused after rejoining the Packers.

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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM








THE TRIBUNE PAGE 11

S]

For the best sporting action .. .

Wallace helps
Celtics beat
Shaq and

Cavaliers...
See page 9

ts



r

FRIDAY,OCTOBER 23, 2009



www.fribune 24 2.c

wl B - = : oe ——— ; a
THESE PICTURES (above and below) are from the start of racing on
winds prevented competition for a day.

America’s David Loring
strengthens top place

fter a day

long delay

due to strong

winds, com-
petitors took to the water
once again in Montagu Bay
to resume action in the 2009
Sunfish World Champi-
onships.

David Loring of the United
States strengthened his first
place advantage with a pro-
ductive outing which included
asecond and fourth place fin-
ish.

Loring overcame a 20%
penalty in race seven, which
dropped him to a fifteenth
place finish, however still
leads the field with 21.6 net
points.

The remainder of the top
five remained virtually
unchanged following day four
of competition.

Marx Chirinos of
Venezuela remains in second
place with 23 net points.

Chirnos suffered a similar
20% penalty in race six for a
15th place finish, however,
rebounded to finish third in
race seven and sixth in race
eight.

American teammates Paul-
Jon Patin and David Mendel-
blatt are in third and fourth
positions respectively.

Patin who began the regat-
ta with the first race win, fin-
ished fourth, 14th and fifth
yesterday for 26 net points,
while Mendelblatt delivered
the most noteworthy perfor-
mance of the day.

After a 20th place finish
due to a penalization, he
returned to win the final two
contests of the day to move

Sports

VOLLEYBALL

into fourth place with 29 net
points.

Peter Stanton of the U.S
Virgin Islands rounds out the
top five with 32 net points.

Stanton took first place in
the opening race of the morn-
ing and followed up with fifth
and second place finishes
thereafter.

Donald Martinborough
remains the top placed
Bahamian competitor in the
field in 16th position with 129
net points.

Martinborough enjoyed his
best finish of the event thus
far with an 11th place finish in
race eight.

Charles Kelly dropped four
sports to 24th position with a
net score of 173 points.

Fernando De Cardenas
improved five positions to
move into 28th.

He recorded the best finish
of any Bahamian sailor in the
field with a ninth place effort
in race seven.

Christopher Sands fell to
34th with 219 net points,
Gavin McKinney is 36th with
224, Andrew Wilhoyte is 37th
with 225, Jeffrey Gale is 39th
with 227, Peter-Bruce Was-
sitsch is 41st with 253, James
Lowe 42nd (269), George
Damianos 45th (304), Ted
O’Brien 47th (311), Donico
Brown 49th (315), Michael
Holowesko 50th (319),
Dwayne Wallas 58th (369),
Lori Lowe 64th (419) and BJ
Burrows 65th (434).

Today marks the final day
of competition in the Sunfish
World Championships with
the final awards ceremony
tomorrow night at the Nas-
sau Yacht Club.

During Wednesday evening’s volleyball matches over at the
D W Davis gymnasium, the C.O.B. Lady Caribs would come
out to win the first set over the Johnson Lady Truckers 25-23,
but Anastasia Sands-Moultrie took charge of the next three sets
leading the Lady Truckers 25-15, 25-10 and 25-10 to win the
match.

Sands-Moultrie finished with a game high 16 points for the
winning Lady Truckers. Kenisha Thompson led the Lady
Caribs with 10 points.

In men's action the National fence Intruders, led behind
Glen Rolle's 13 points, defeated the Champions Club in 4 sets,
25-20, 25-17, 17-25 and 25-22. Muller petit would lead all scor-
ers in a losing effort with 18 points.

Games continue today over at the D W Davis gymnasium.

BASEBALL

The 2009/2010 Youth Baseball Season got under way on
Long Island — Saturday October 17, 2009.

The President & his Executive Team would like to con-
gratulate the (Long Island Baseball League Executive Team on
a successful OPENING and for successfully rejuvenating the
baseball program on Long Island.

President Dan Weightman & Team has done a tremendous
job and by the Island wide support today, they are off to a
GREAT start.

In attendance was BBF President Craig Kemp who gave
the Opening Address and Secretary General Theodore Sweet-
ing. JBLN Coach Pastor Ken Adderley(Former Professional
Baseball Player) took a break from his visiting Pastoral duties
to take in the two opening games.




day one at Montagu Bay. Sailors took to waters yesterday after heavy

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PAGE 12, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



LOCAL NEWS



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A TRIUMPHANT Perry Christie at last night's PLP convention.

Perry Christie
stays PLP leader

FROM page one

“Firstly I think anyone
who stood for election had
to prepare themselves for
some kind of loss and even
though there’ll be bitter dis-
appointments on the part of
those who lost, it is for me
to one, congratulate all of
those who won and also
those who lost.

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“Because we came together
to contest offices as members
of the Progressive Liberal
Party and we knew in doing
so that some would win and
some would lose. And we
know that the purpose of a
political organisation is not to
have wonderful fights within
but to really prepare our-
selves for the major fight and
that is showing that we are a
viable and good alternative
to the FNM and that people
will have a real choice to
make in the next election and
when they have that choice
they will choose the PLP,” he
said.

Graciously accepting his
defeat, Dr Nottage said that
he and his team presented the
PLP with the reasons why
they thought there ought to
be change in the party.

Judgment

“The PLP have made their
judgment and they have
decided that they want to con-
tinue with what we have been
doing and I respect that. I
came here now because I
want to see the leader and
congratulate him and his team
but more importantly I want
to reassure the people who
are members of the PLP that
Iam a PLP, I’m not going
anywhere; I’m going to con-
tinue to work and support the
PLP,” Dr Nottage said.

Noting that there has been
allegations of improprieties
with the election process con-
ducted yesterday, Dr Nottage
said that his team would
review these issues and see to
the extent it will be “con-
structive” for them to make
any formal protests or carry
the matter “further”.

“But for now I want those
who have won to bask in their
victory and enjoy it,” he said.

Dr Nottage also opted not
to respond to the question as
to whether or not he will once

again challenge for the lead-
ership of the party.

“The only thing I can
assure you is that I am going
nowhere.”

The third challenger, Mr
Moss also expressed his con-
cern about the alleged “inap-
propriate” conduct and alle-
gations of vote buying and
intimidation that have
emerged. Despite these
reports, Mr Moss still con-
gratulated Mr Christie on his
victory.

“This campaign has been
one to demonstrate that we
believe we can do better and
we still believe we can do bet-
ter. When you look at the
youth in our campaign and
the fact that we have been
able to bring excitement to
this place, even inspire people
to believe that they can do
certain things, we know that
our campaign has been a suc-
cess,” he said.

Mr Moss did however cau-
tion the party that the PLP
currently has at its conven-
tion, stalwart councillors who
outnumber elected delegates
three to one, who are 65 and
over and not reflective of the
country’s growing demo-
graphic.

“Tf this party is to be suc-
cessful it ought to recognise
that and change it because
what we saw here today is an
outpouring of senior citizens
who came in to vote and it is
not reflective of the general
make up of those voters who
are elected delegates,” he
said.

Mr Christie said that the
party will be holding another
convention before the next
general election, and if he is
contested again, he will again
defend himself. But he
remains confident that even
if such a contest were to again
arise he will be leading the
party into the next general
election.

“To those who have dis-
agreed with me, they’ve had



an opportunity to express
their disagreement and the
people at the convention have
now provided the ultimate
answer - that they support me
and let’s get on with the busi-
ness of being a viable strong,
dynamic, political organisa-
tion,” he said.

Statement

In a statement released late
last night the FNM claimed
the re-election of Perry
Christie as Leader of the Pro-
gressive Liberal Party is a vic-
tory for the old guard of the
party and a blow to any seri-
ous reform by those who rep-
resent the worst days of the
Pindling era and the more
recent scandalous past of the
party, among them a number
of Mr Christie’s cabinet
appointees.

"The old guard further
entrenched itself and turned
its back on reform and renew-
al by also electing Bradley
Roberts as Chairman, anoth-
er symbol of some of the
excesses of the party and one
who is regarded as a political
character assassin by many,”
the governing party said.

The FNM said that not only
is any reform of the PLP high-
ly unlikely, “Mr. Christie and
his supporters have made the
party even more undemocra-
tic by undercutting the power
of the branches in favour of
Stalwart Councillors who now
make up some two-thirds of
the voting power of the party
at convention”.

"The future of the once-
mighty PLP is bleak indeed
since Mr. Christie knows that
most of his parliamentary col-
leagues have no confidence
in him and he has threatened
that there will be ‘conse-
quences’ for them. Some may
find their continued presence
in the PLP very uncomfort-
able if not untenable," the
party said.

FNM hits back at
PLP over economy

FROM page one

omy. They are at it again in their convention,”

the statement said.

“The extent of their desperation is clear,

unemployed Bahamians and to help prepare

for the future.

“The centrepiece of this initiative was the
launching for the first time in Bahamian history
of an unemployment benefit scheme. When
it was announced, the PLP was so taken aback

Our 3rd Weight Loss Competitian considering the indisputable fact that the eco-
nomic crisis enveloping the Bahamas and much
of the world is due not to any local causes but
to external forces beyond anyone’s control.
“The FNM government has buffered the
effects of the crisis by accelerating public works
including road building, the massive port pro-
ject, the new airport terminal project, clean-up
and beautification campaigns and the creation
of more recreation spaces for the Bahamian
people, especially seaside vistas and spaces.”
The statement went on to note that the gov-
ernment also launched a multi-faceted nation-
al social programme to alleviate the pain of

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM

that they only mutter baseless criticisms such as
suggesting that it might not be legal,” the state-
ment noted.

It listed other elements of the “FNM social
response to the crisis” as: temporary job pro-
grammes, a national training programme and
electricity assistance for thousands of distressed
Bahamians.

“All this was made possible because of the
solid economic and fiscal performance of the
FNM in its first two terms in office after clean-
ing up the mess left by the PLP government,”
the governing party said.

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THE TRIBUNE a

USI



FAMILY GUARDIAN

INSURANCE COMPANY LIMITED

FRIDAY, OCTOBER 23,

2009



Hotels anticipate
‘flat to slightly
off Christmas

Sasol

By NEIL HARTNELL
Tribune Business Editor

THE 2009
Christmas hol-
iday season
will be “flat
compared to
last year or
slightly
behind” for
the Bahamian
hotel industry
generally, the
Bahamas SANDS
Hotel Associ-
ation’s (BHA) president said
yesterday, indicating that
many resorts were sacrificing
margins and room rates to
maintain occupancy levels.

Robert Sands, who is also
Baha Mar’s senior vice-presi-
dent for governmental and
public affairs, told Tribune
Business that “bookings are
still soft and challenging”,
with the booking window
“not more than three weeks”
before tourists actually
arrived in the Bahamas - mak-
ing it very difficult for the
hotel industry to predict for-
ward-looking trends.

Pointing out that it was the
New Year period, rather than
the Christmas season, which
provided resorts with the bulk
of their festive business - espe-
cially those properties with
casinos - Mr Sands said: “We
will probably not see much
difference from what
occurred last year, and in
some instances properties will
have slightly less, and in oth-
ers slightly more.

“We see the Christmas sea-
son being flat to last year or
slightly behind. I would say
business for Christmas this
year will be relatively flat to
last year. The difficulty is not
so much occupancy, but it has
a lot to do with the yield, the
rates.”

Going into 2010, Mr Sands
said the BHA was planning
to advocate on a number of

SEE page 3B



SECTION B ¢ business@tribunemedia.net



Further rating downgrade fear

By NEIL HARTNELL
Tribune Business Editor

he Bahamas could suffer
an immediate sovereign
credit rating downgrade
“into the Baa category” if it
immediately fails to reduce its nation-
al debt-to-GDP ratio once the reces-
sion is over, a Wall Street agency
warned yesterday, as it questioned
whether the Government’s ‘no new
or increased taxes’ approach was “sus-

tainable over the long term”.

* Moody’s warns Bahamas must reduce debt-to-GDP ratio immediately ‘as

Although the Bahamas’ worsening

fiscal ratios would “not yet” result in a
downgrade to its sovereign debt cred-
itworthiness, Moody’s also warned
that this nation needed to raise long-
term growth rates by “reversing” a
weakening tourism performance,
while the 2009-2010 fiscal deficit was

per cent.

likely to be higher than the forecast 3.9

“Despite the relatively high level of
economic development, long-term
concerns about the economy persist,”
Moody’s said of the Bahamas. “In the
last 10 years, median growth for the

Bahamas was 1.7 per cent, well below
the median growth rate of 4 per cent
for A-rated countries........

“Raising long-term growth rates
requires a reversal of the weak per-
formance of the tourist sector and
strengthening the regulation of the

soon as crisis is over’, or otherwise sovereign could fall into ‘Baa category’

* Wall Street agency questions sustainability of government's ‘no new or increased
taxes’ position, warning narrow base could hamper debt reduction efforts

* Projects ‘higher shortfall’ in fiscal deficit than 3.9% projection for 2009-2010

* Warns that ‘long-term concerns about the economy
persist’, and growth rates needed to be raised

financial sector. Tourist arrivals have
been falling since 2005, predating the
current crisis. In 2008, total arrivals
were the lowest in a decade, and data
for the first half of 2010 will be worse.”

SEE page 4B

City Markets refinancing deal closed

By NEIL HARTNELL

Tribune Business Editor

CITY Markets’ majority
shareholder has closed the
transaction to complete the
supermarket chain’s $5 mil-
lion refinancing, Tribune
Business can reveal, with
Exchange Control approval
having finally been received
late last week.

Multiple sources familiar

The information contained is from a third
party and The Tribune can not be held
responsible for errors and/or omission
from the daily report.



Lease extension
granted to close
$258m purchase

By NEIL HARTNELL
Tribune Business Editor

THE Government has
granted the 30-year lease
extension sought by the Nor-
wegian-headquartered buyer
of a Grand Bahama-based oil
storage terminal, allowing that
$258.249 million transaction
to close yesterday.

Joy Jibrilu, director of
investments in the Office of
the Prime Minister, confirmed
that the Government had
agreed to Statoil Hydro’s
request for a 30-year exten-
sion of the lease on the South
Riding Point terminal. With
10 years on the existing lease
still to run, Statoil now has
security of tenure at South
Riding Point until 2049.

“There were 10 years
remaining on the lease with
World Point Terminals,” Ms
Jibrilu confirmed to Tribune
Business, “and then a 30-year
extension. Given their capi-
tal and their investment, a 30-
year extension is what they
requested.”

Statoil had previously told
Tribune Business it wanted a
lengthy lease to ensure it gen-
erated the appropriate return
on its investment.

Ms Jibrilu also confirmed
yesterday that Statoil’s pro-
posal, which was submitted to
the Government to facilitate
approval of its purchase,
called for a $100 million to
$150 million investment in
South Riding Point to
upgrade the existing facilities,

* Statoil gets 30-year South
Riding Point extension
through to 2049, as its
closes oil storage
terminal buy

* Norwegian firm planning
to invest $100m-$150m
to upgrade facilities

expand the tank storage
capacity and address any envi-
ronmental concerns.

“That continues to be the
case,” the Bahamas Invest-
ment Authority’s head con-
firmed in regard to Statoil’s
proposed $100 million to $150
million investment at South
Riding Point.

“That is what they advised
the Government in their pro-
posal, for they will be using
it for the transhipment of
crude oil from Brazil and
Latin America into North
America.

“They’re going to do reme-
dial work and an environ-
mental clean-up of what’s
there, so that’s a part of their
work, to upgrade and increase
capacity,” she said. “That
seems to be the main focus.
They [Statoil] seem to be a
wonderful corporate partner.
They have a very good track
record.”

Canadian-based World
Point Terminals confirmed
that its wholly-owned sub-
sidiary, Old South Riding

SEE page 6B



Trinidadian conglomerate said to be in majority control at supermarket chain’s majority shareholder

with developments confirmed
to this newspaper yesterday
that investors in BSL Hold-
ings, the private equity con-
sortium that holds a 78 per
cent stake in City Markets’
holding company, Bahamas
Supermarkets, had complet-
ed the transaction to refi-
nance both itself and the
operating company after final
approvals were received from
the Central Bank of the
Bahamas.

Sunil Chatrani, Bahamas
Supermarkets’ head, declined
to comment when contacted
by Tribune Business yester-
day, but this newspaper now
understands that BSL Hold-
ings is finally in position to
provide the long-awaited
financial assistance to pub-
licly-traded Bahamas Super-
markets.

Apart from releasing the
additional equity capital injec-
tions they had previously
committed to, Tribune Busi-
ness also understands that
BSL Holdings’ investors com-
pleted negotiations on their
existing loan and credit facil-
ities with Royal Bank of
Canada.

Royal Bank had lent the
group $24 million in 2006 to
help part-finance the acquisi-
tion of the 78 per cent
Bahamas Supermarkets stake
from Winn-Dixie.

Meanwhile, Tribune Busi-
ness also understands that as
part of the refinancing,
Trinidadian conglomerate
Neal & Massey is now in
effective majority control of
BSL Holdings - something
this newspaper had previous-
ly anticipated, due to the need
for exchange control approval
from the Central Bank.

Neal & Massey will now be
able to combine its previous
acquisition of Barbados Ship-
ping & Trading, the company
that acted as City Markets’
managing partner in the
immediate aftermath of the
Winn-Dixie buyout, with con-
trol at BSL Holdings to have
a much greater say in the 11-
strong supermarket chain’s
affairs.

It is likely that the Trinida-
dian conglomerate will take
an even greater interest in
Bahamas Supermarkets’ per-
formance now, treating it akin
to a subsidiary. Indeed, Neal

& Massey’s move into a con-
trolling position at BSL Hold-
ings and, by extension,
Bahamas Supermarkets, will
come as no surprise to most
observers, many having
believed the original transac-
tion was structured to pro-
duce such an outcome.

However, no information
has been forthcoming as to
whether Bahamas Supermar-
kets’ Board of Directors has
signed off on the company’s
long awaited 2008 audit -
some 16 months after that
period closed - and when the
annual general meeting
(AGM) for that year will be
held.

City Markets, its operating
parent and BSL Holdings
have come in for heavy criti-
cism from minority share-
holders who collectively hold
22 per cent of Bahamas
Supermarkets, investor value
having been massively eroded
as a result of the $13.429 mil-
lion net loss projected by
management accounts for
2008 - something that plunged
the company into negative
equity.

More than 15 months after

FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES

call us today at 396-4076

FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET | www.lamguardbahames.com

the 2008 year-end, Bahamas
Supermarkets’ external audi-
tor, KPMG, has yet to sign
off on the audited accounts, a
timeline well outside the 120-
day filing period stipulated
for public companies. Many
have argued that this saga has
undermined the integrity of
the Bahamian capital mar-
kets.

The 2008 audit sign-off had
previously been contingent on
City Markets’ receipt of
financing from BSL Holdings,
which would have avoided the
accounts being qualified as a
"going concern’.

But in a previous interview,
Mr Chatrani said: “"We're
rushing to have the audit
complete with or without the
financing. It's so old, we want
to get it behind us, with or
without the opinion, so we
can move on to the 2009
audit. We want to get it com-
pleted.

"We had the final [audit]
draft today for review. We
have the opinion in hand, and
should be approving that
some time next week. The

SEE page 2B

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PAGE 2B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



INTERNATIONAL BUSINESS



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7. Wihat alo here bo che te wine the

Airlines tell
a tale of two

camps

profit

versus loss

By HARRY R WEBER
AP Airlines Writer

ATLANTA (AP) — The
recession has put the major
US airlines into two camps
— the profitable ones that
have low costs and a domes-
tic focus, and the money-
losing ones with higher
expenses and big networks
that are under global pres-
sure.

That stark contrast played
out again Thursday as Alas-
ka Air Group Inc. and Jet-
Blue Airways Corp. said
they were in the black in the
third quarter and Delta Air
Lines Inc. and US Airways
Group Inc. remained in the
red.

Passengers can expect
more fare sales, but ticket
prices will creep up at times
and will be more expensive
during the holidays. Those
annoying add-on fees won’t
be going away either.

The airlines know passen-

compared to a loss of $50
million a year ago. Its rev-
enue, if its Northwest Air-
lines subsidiary was includ-
ed in the 2008 figure, fell 21
per cent on a combined
basis year-over-year. Delta
ended the quarter with $5.8
billion in unrestricted liq-
uidity, including $5.5 billion
in cash, cash equivalents
and short-term investments
and $300 million available in
a revolving credit line.

Side

On the flip side, improve-
ments it has made in on-
time performance and being
insulated from the slump in
international travel helped
Alaska Air post a profit for
the third quarter. The Seat-
tle operator of Alaska Air-
lines and Horizon Air
recorded an $87.6 million
third-quarter profit, com-
pared to a net loss of $86.5
million a year ago. Revenue

BlackBerry Bald? gers aren’t eager to open fell nine per cent to $967.4
Berry Bold, Register = x eb nl their wallets. Customers million from $1.07 billion a
and become eligible to He nl cee oly continue to be under pres- —_—year ago.
ee Hine be BA. sure — budgetary pressure JetBlue, based in New
win! The averrang ru she and pressure on the eco- York, earned $15 million in
oa mee nomic front,” Delta Presi- the third quarter, compared
ae dent Ed Bastian said during —_ with a loss of $8 million a
ae a conference call with ana- year ago.
= lysts and reporters. Revenue fell 5.3 per cent
aie The July-September quar- to $854 million.
1. Kab by sl ter includes part of the tra- The big carriers aren’t in
2 ditionally busy summer sea- _a hurry to grow with the

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ROYAL FIDELITY

Money at Work

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 22 OCTOBER 2009
BISX ALL SHARE INDEX: CLOSE 1,489.00 | CHG -3.49 | %CHG -0.23 | YTD -223.36 | YTD % -13.04

FINDEX: CLOSE 789.77 | YTD -5.40% | 2008 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

5 oaaaida



FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES

cleo LL

CINTA LL

son, but major airlines were
hit hard this year by weak
overall demand for air trav-
el, especially for business
and international travel.

Capacity has been shed,
jobs have been cut and oth-
er operational changes have
been made, including efforts
to preserve cash.

Volume and revenue
from corporate customers
remain down for several air-
lines, but the margins have
been improving in recent
months.

Travelers

economy in the early stages
of a recovery. They want to
be careful not to do more
flying than passengers are
willing to pay for. By keep-
ing capacity in check, they
believe they will be able to
charge more for tickets.

Delta plans to cut system
capacity three per cent next
year. At least one low-cost
carrier that posted a profit
this week — AirTran Air-
ways — actually plans to
add capacity next year, in
the range of two per cent to
four per cent.

JetBlue CEO Dave Barg-
er said his airline is still a

52wk-Low Securit y Previous Close Today's Close Change Daily Vol. EPS $ Div $ P/E y
1.03 AML Foods Limited 1.17 1.17 0.00 0.127 9.2 Leisure travelers are growth company.
9.90 Bahamas Property Fund 10.75 10.75 0.00 0.992 10.8 1 1 6 2
5.90 Bank of Bahamas 5.90 5.90 0.00 0.244 24.2 starting to take to the air We have a considerable
0.63 Benchmark 0.63 0.63 0.00 -0.877 N/M again, but they are paying number of (aircraft) in our
244 Fidelity Bank 237 237 0.00 0.058 434 smaller average fares, hit- order book, and I think
9.93 Cable Bahamas 9.98 9.93 0.00 1.406 7.41 ting the airlines’ bottom we’re looking forward to
2.72. Colina Holdings 2.72 2.72 0.00 0.249 10.9 ; ;
5.26 Commonwealth Bank (S1) 5.83 5.74 -0.09 0.419 13.7 line. deploying them, you know,
1.27. Consolidated Water BDRs 3.01 3.04 0.03 0.111 27.4 : : ‘ :
1.32 Doctor's Hospital 2.05 2.25 0.20 0.625 3.6 US Airways, based TH playing some offense in the
6.28 Famguard 6.50 6.50 0.00 0.420 15.5 Tempe, Ariz., blamed its not too distance future,” he
8.80 Finco 9.30 9.30 0.00 0.322 28.9 : :
10.00 FirstCaribbean Bank 10.00 10.00 0.00 0.631 15.8 revenue drop on the combi- said.
4.11 Focol (S) 414 444 0.00 0.332 12.4 nation of less flying But don’t expect checked
1.00 Focol Class B Preference 1.00 1.00 0.00 0.000 N/M “é : : =_—
027. Freeport Concrete 027 027 0.00 0.035 oo aggressive industrywide bag fees and other fees to go
5.49 ICD Utilities 5.59 5.59 0.00 0.407 13.7 1 4
9.95 J. S. Johnson 9.95 9.95 0.00 0.952 10.5 fare sales, and the reduction away. JetBlue said Thursday
10.00 Premier Real Estate 10.00 10.00 0.00 0.156 64.1 in business demand. it won’t rule out charging
Els LISTED DEBT SECURITIES - (Bonds trade on a Percentage Peis) b ases) US Airways lost $80 mil- for a first checked bag.
52wk-Low Security Symbol Last Sale Change Daily Vol. Interest Maturity : : *
7000.00 Fidelity Bank Note 17 (Senles A) > FEB17 700.00 0.00 7% 19 October 2017 lion in the quarter as rev- In Thursday trading,
1000.00 Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75% 19 October 2022 1
1000.00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May 2013 enue fell 16.6 per cent from Alaska Air shares fell 84
1000.00 Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75% 29 May 2015 the same period last year, to cents, or three per cent, to
Fidelity Over-The-Counter Securities i
52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E $2.72 billion. It ended the close at $26.76, JetBlue
7.92 Bahamas Supermarkets 7.92 8.42 14.00 “2.246 0.000 N/M quarter with $1.5 billion in shares lost 13 cents, or 2.3
6.00 Caribbean Crossings (Pref) 2.00 6.25 4.00 0.000 0.480 N/M 4
0.20 RND Holdings 0.35 0.40 0.55 0.001 0.000 256.6 unrestricted cash. per cent, to $5.61, Delta

29.00 ABDAB
0.40 RND Holdings

52wk-Low
1.3344
2.8952
1.4217
3.0941
12.3870
100.0000
99.4177
1.0000
9.0775
1.0000
1.0000
1.0000

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity International Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

Colina Over-The-Counter Securities

30.13
0.45

31.59
0.55

29.00
0.55

BISX Listed Mutual Funds

NAV
1.4038
2.8300
1.4954
3.0941

13.1751
103.0956
99.4177
1.0000
10.5884
1.0757
1.0305 -0.24
1.0709 3.24

YTD%
3.72
-3.75
4.30
-8.61
4.42
3.10
3.12
0.00
5.88
3.86

Last 12 Months

Div $
5.20
-6.75
5.18
-13.59
5.86
2.52
2.76
0.00
5.88
5.30
0.22
4.54

4.540
0.002

0.000
0.000

Yield %

9.03
261.90

NAV Date
31-Aug-09
30-Sep-09
16-Oct-09
31-Aug-09
30-Sep-09
30-Sep-09
30-Sep-09
31-Dec-07
30-Sep-09
30-Sep-09
30-Sep-09
30-Sep-09

Delta, based in Atlanta,
lost twice as much in the
quarter — $161 million,

shares lost one cent at $8.32
and US Airways shares also
dropped a penny to $3.86.

City Markets refinancing

Board will approve it, and we will call the annual general

meeting (AGM) shortly."

MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

Mr Chatrani said Bahamas Supermarkets was "aiming for the
end of the month" of October - a date now unlikely - for the
AGM date, pointing out that shareholders had to be given 21
days’ notice.

Mr Chatrani also confirmed that City Markets had received
$1 million of the $5 million in new equity capital to be injected
by its 78 per cent majority shareholder, the remainder awaiting
that exchange control approval.

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: COLINA 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525





TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM



THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 3B





Dil slins helow
$31 a harrel,
retreating
from ‘09 high

By ALEX KENNEDY
Associated Press Writer

SINGAPORE (AP) — Oil
prices slipped below $81 a
barrel Thursday, retreating
from a 2009 high, as a wobbly
US dollar steadied in Asian
trading.

Benchmark crude for
December delivery fell 90
cents to $80.48 a barrel at late
afternoon Singapore time in
electronic trading on the New
York Mercantile Exchange.

The contract rose $2.25 to
settle at $81.37 on Wednes-
day as the dollar fell to its
lowest since August 2008.
Crude is traded using dollars,
so it gets cheaper when the
US currency falls.

The euro fell to $1.4959 on
Thursday from 1.4999 the pre-
vious day and the dollar rose
to 91.46 yen from 91.00.

Traders also eyed a smaller
than expected rise in US
crude supply data from the
Energy Information Admin-
istration on Wednesday.
Inventories rose 1.3 million
barrels while analysts had
expected a rise of 2.2 million
barrels, according to a survey
by Platts, the energy infor-
mation arm of McGraw-Hill
Cos.

The two-week surge in the
oil price has raised the specter
that a jump in energy costs
would fuel inflation and lead
policymakers to ease stimu-
lus spending and raise interest
rates, undermining a nascent
global economic recovery.

“Tt’s definitely a potential
threat,” said David Cohen,
director of Asian economic
forecasting for consultancy
Action Economics. “Every-
body gets a little nervous
when the oil price starts
bouncing higher.”

Energy Secretary Steven
Chu said earlier this week that
crude prices at $80 per barrel
are worrisome.

Stock markets, which have
soared since March, could see
gains reversed if oil and other
commodities continue to rally,
Cohen said.

“The recovery is not so
fragile that it can’t tolerate
another dollar or two in the
oil price,” Cohen said. “But
when people start getting
worried about inflation, that
could be a drag on markets.”

In other Nymex trading,
heating oil fell 1.49 cents to
$2.09 a gallon. Gasoline for
November delivery dropped
1.65 cents to $2.04 a gallon.
Natural gas for November
delivery rose 2.6 cents to $5.13
per 1,000 cubic feet.

In London, Brent crude for
December delivery fell 81
cents to $78.88 on the ICE
Futures exchange.

TNH

For the stories
Ue
ae A
eS

Recession is ‘a God send@’

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Chamber of
Commerce’s president yes-
terday said the recession and
economic crisis was “a God
send” from the perspective of
shaking Bahamians business-
es out of their complacency,
and forcing them to focus on
efficiency, productivity and
the long-term sustainability
of their business models.

Acknowledging that some
would think he was “off my
rocker”, Khaalis Rolle told
Tribune Business that both
the private and public sectors
needed to use the downturn
to better-plan their long-term
futures, and ensure that they
were better prepared to with-
stand future downturns when-
ever they arose.

“T would say, and some
people may think I’m off my
rocker, that this crisis is a God
Send,” Mr Rolle told Tribune
Business. “We’ve enjoyed a
robust economy for so long
that many of us got comfort-

able. We operated at the sta-
tus quo level, and there was
no real need to work hard to
develop efficiency and sus-
tainable models.

“This is now forcing us to
be more competitive and look
at everything. During these
times, we really need to use
these opportunities to plan
better.

“Unfortunately, we haven’t
seen a lot of major structural
reforms, because we’ve been
in the initial part of the
response period when we’ve
been trying to stem the bleed-
ing more than anything else,
from both the private and
public sector standpoint.”

Mr Rolle added: “The
response was to stimulate the
economy, restart it, and the
Government did so with the
capital works projects. The
next phase is to develop a
response mechanism, a move
to refocus that allows us to be
in a better position to with-
stand any downturn over the
horizon.”

The Chamber chief said he

Hotels anticipate
‘flat to slightly off
Christmas season

issues on behalf of its members, “paramount, number one”
among them being to “work on cost reduction”.

Following that was the need to “put in place regulations on
gaming to help increase the sales focus in the marketplace”,
workforce training and development, and working on new ini-
tiatives and with outside partners to increase tourist flows to
Bahamian resort properties.

The latter, the BHA president added, would generate “con-
sistent revenue streams” to ensure “all properties become
profitable”.

Mr Sands told Tribune Business that the BHA was still wait-
ing to hear from Vincent Vanderpool-Wallace, minister of
tourism and aviation, on what form reform to the Bahamas’
gaming laws and regulations would actually take.

“Tt’s a bit more than just reform,” Mr Sands said of what
Bahamian resorts and casinos wanted to see. “It’s improving
regulations to make us much more competitive as a country.

“Tt’s very important for two reasons. The proliferation of
gaming close to the Bahamas, Florida in particular, and having
a major competitive edge over the Bahamas makes it very dif-
ficult for us, in this very depressed environment, to be com-
petitive.

“From a gaming regulatory perspective, if we stand on a
level playing field, entities here will have a better opportunity
to compete for gaming customers in the world marketplace.”

Focusing on Florida, Mr Sands added: “They have advantages
in a significant number of areas - the types of game offered, the
ability to be flexible, the ability to move quickly.”

Proposals to address these issues and a number of other
areas had been included in the BHA’s submissions to the Gov-
ernment on the gaming issue.




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KHAALIS ROLLE

believed the Bahamas was
faring “better than most
economies, but is still taking a
beating”. He added that dis-
cussions at an Inter-Ameri-
can Development Bank
(IDB) seminar in Barbados
last week had focused on the
sustainability of business
models going forward, and
the need to mitigate against
future recessions.

“T think we’re doing pretty
well, relatively speaking,” Mr
Rolle told Tribune Business.
“Tt is what it is, and unfortu-

2. _

nately businesses are not
making the types of revenues
they were making two years
ago, or even one year ago.

“But a lot of businesses
have found a way to respond
to it, whether it’s looking at
the cost base and reducing
costs in response to a reduc-
tion in revenues.

“There is one company I
spoke to, and some of the
measures they are employing
are so drastic as to reduce
expenditure on personal
items, and staff bringing in
their own cups. They’ve gone
to lower cost items.”

The Chamber president
added: “One of the things the
economic crisis has forced us
to do is to rethink how we do
business. Rethink our entire
approach and operate at a
level that’s optimal in terms of
revenues generated and
expenditure.”

Mr Rolle warned, though,
that it was likely to be “any-
where from 18 to 24 months”
before the Bahamian econo-
my experienced a sustained

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turnaround. While the econ-
omy may have already hit
bottom, “we’re now in a state
of what to do next”.

The rising unemployment
rate was not necessarily a true
indicator of where the econo-
my was, Mr Rolle said, point-
ing out that as part of doing
“more with less”, some busi-
nesses that had experienced
efficiency/productivity gains
after releasing staff may not
hire those positions back.

This, he added, could result
in relatively high unemploy-
ment persisting past a recov-
ery “until we create new busi-
nesses and new opportuni-
ties”.

“Unemployment is just a
lagging indicator of where we
are,” the Chamber president
said, arguing that “we’re at
the end of the technical reces-
sion” thanks to the Obama
administration’s stimulus
package.

He added that foreign
direct investment was unlike-
ly to return to pre-2006 levels
for another five to 10 years.

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PAGE 4B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE





Further rating downgrade fear

FROM page 1B

Effectively, the Moody’s
report said that while the rat-
ing agency was placing great
faith in the Bahamas’ tradi-
tion of macroeconomic and
fiscal prudence to turn around
the worsening fiscal position,
rapid - and decisive - action
was required to ‘put the house

ae
NAD

Nassau Airport
Gevelopment Company

in order’ and turn the nation
around once the recession was
over.

“The Government has
announced its intention of
reducing debt as soon as the
crisis is over, and given the
Bahamas’ strong institutional
history we believe that is like-
ly. Failure to do so would like-
ly result in a negative rating

PRICE INQUIRY

P-2170 Design /Build Fabric Canopies

Nassau Aiport Development Company (MAD) has a requirement

for fhe deegn, manufactuinng and wevialaliqn of fabnic canopess for

Silage 1 and Stage J of the Lynden Piadiing International Apo

Fapansion Proyect, with Stage 1 being awarded at this time

The Scope of Work includes:

» Dean of fabne canopees (oundahiotes, sctine, behing) in

actiedaece wih the Bahamas Building Code fer parking lol and

arede passenger walks

Prepadaiion of deen shop draw and bbicaion of canopy

structure; and

Site irefailaboe of loundabons, sleunture, elecincal aed canopy,

in coordinsbon wih other conkeciors on ale snd ai ftin schedule

Tmikesiones specified

Poe Inquiry Packages wil be avalable for pack up afler
1200 pron Wednesday, September 30th, 2009

Contact: Traci Brishy
Contract & Procurement Manager
LPL Ex

pansion Project
Pie a] PO BG | Fear fee) 2?
FO Bio AP 7 Nagaeu Balers

Emad, ea bredrpgirers bs



rake

SAD

N

Nassau Airport

Development Company

action,” Moody’s country
analysis, a copy of which has
been obtained by Tribune
Business, warned.

“The 2009-2010 Budget
forecasts a 3.9 per cent of
GDP deficit, but a higher
shortfall is likely given the
severity of the crisis. Govern-
ment borrowing is pushing
debt higher, and by 2010 it
will be closer to 50 per cent of
GDP, among the highest in
the A [rating] category.”

Some 8 per cent of that 50,
Moody’s pointed out, was
held by the National Insur-
ance Board (NIB), the
nation’s social security pro-
gramme. This, and the high
percentage of national debt
held by Bahamas-based
investors such as banks and
public sector institutions, gave
the Government some fiscal
flexibility.

But the Wall Street rating
agency then warned that the
Bahamas’ relatively narrow
tax base, and low per annum
tax revenue intake as a per-
centage of GDP, would
impact this nation’s ability to

finance the rapid repayment
of debt once the current
recession ended.

With government revenues
as a percentage of GDP
among the lowest in the
Caribbean, Moody’s warned:
“This presents a challenge
when, as now, debt levels rise,
since they must be paid from
a relatively smaller base than
in other nations.

Revenues

“The Government expects
that revenues will increase as
a percentage of GDP as the
economy recovers and they
improve tax collection, but
has so far refused any increas-
es in tax rates or the intro-
duction of new taxes.

“While the Government
has ample short and medium-
term flexibility, it remains an
open question if this approach
is sustainable over the long-
term, particularly given the
increase in recent years in
overall expenditure. Total
expenditures averaged 21.6
per cent of GDP in the last

NOTICE

DINVER INVESTMENT LTD.
In Voluntary Liquidation

Notice is hereby given that in accordance with

Section

138(4) of the International

Business

Companies Act. 2000, DINVER INVESTMENT

LTD. is in dissolution as of October 13, 2009.

International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is
the Liquidator.

LIQUIDATOR

Nassau Airport Development Company Limited (NAD) is seeking Proponents (individuals,
consortium or joint venture that must include an experienced retail operator) to finance,
design, develop, operate and manage Bahamian Specialty Retail stores in the new US.
Departures Terminal currently under construction at the Lynden Pindling International
Airport. These stores will be world class in design and appearance with a distinctive ‘sense of
place’ and will offer uniquely 100% Bahamian manufactured/produced products at

competitive prices,

Four inline stores have been identified in the new terminal for these uniquely Bahamian
products; the categories are as follows:

Jewelry, Arts and Crafts

Soaps, Candles, Oils, Ete,
Straw and related articles
Other Bahamian made products

There will be additional Requests for Proposals issued over the next few months covering

additional inline stores for general retail plus kiosks and carts.

MINIMUM QUALIFICATIONS:
i. Proponents must be Bahamian and incorporated in The Bahamas.
ii, Proponents must have operated a retail facility within the last three (3) years.

NAD'S GOALS AND OBJECTIVES ARE TO:
(a) achieve a high standard of excellence and customer service:
(b) offer a mix of concepts that will help to enhance the image of the Nassau Airport asa

world class airport;

(c) offer retail choices to passengers at reasonable prices;

(d) offer a mix of local, regional and national and international brands

(2) develop and design retail facilities that complement the qualities of the new terminal
while recognizing the distinctive spirit, character and'sense of place’ of The Bahamas; and

(f) optimize revenue to NAD.



four years, compared to 18.5
per cent in the previous four.”

The Government’s 2009-
2010 Budgetary financing
needs, estimated at about 6.5
per cent of GDP to cover the
anticipated fiscal deficit plus
amortisations, were not
viewed as a problem by
Moody’s given the likely
appetite of the NIB, Bahami-
an banks and public corpora-
tions for government debt.
The Bahamas Telecommuni-
cations Company (BTC) pri-
vatisation was also expected
to help in this regard.

“At an estimated 13 per
cent in 2009, the ratio of
external debt to GDP is
among the lowest in its broad
peer group and well-below
the median of 41 per cent for
A-rated countries,” Moody’s
report added.

And while persistent fiscal
deficits would push the
Bahamas’ national debt-to-
GDP ratio close to 50 per
cent, higher than many simi-
larly rated countries, Moody’s
said the time was “not yet”
for a further downgrade of
this nation’s sovereign credit
rating.

“While we are concerned
with the increase in the coun-
try’s debt burden, its history
of sensible fiscal management
and strong policy consensus
support the Government’s
view that debt numbers will
start trending down once the
worst of the crisis is over.

“But if the increase in debt
numbers remains unchecked,
it will place strong downwards
pressure on the current rat-
ings, and could lead to a
change in outlook and ulti-
mate downgrade into the Baa
category.”

Nevertheless, Moody’s said
the Bahamas was “well-posi-
tioned to manage the crisis
without permanently weak-
ening its creditworthiness”,
even though the Internation-
al Monetary Fund (IMF) had
projected this nation could
suffer “three years of nega-
tive growth” from 2008-2010.

Yet the persistent reliance

on the US remained a key
weakness, and GDP per capi-
ta was forecast to decline
from $22,560 in 2008 to
$21,926 in 2009 and $21,871
in 2010.

Turning to monetary mat-
ters, Moody’s said the
exchange rate peg to the US
dollar had largely helped to
contain inflation. And the
Bahamas’ structural trade and
current account deficits fluc-
tuated between 5 per cent and
20 per cent of GDP, depend-
ing on the flow of tourism-
related imports and foreign
direct investment-financed
construction materials.

“This year, the current
account deficit will be around
10 per cent of GDP, below
the 13 per cent and 18 per
cent posted in 2008 and 2007,
respectively,” Moody’s said.
“On nominal terms, the cur-
rent account deficit will shrink
to an estimated $0.8 billion
from $1.2 billion in 2008, and
$1.3 billion in 2007.

Tourism

“The decline in tourism
receipts will be more than
compensated by a decline in
imports growth, a reflection
of lower domestic demand
growth and lower oil imports.
Last year, oil imports amount-
ed to close to 30 per cent of
GDP, more than three times
the 2004 levels.”

Moody’s added that foreign
direct investment in the
Bahamas traditionally
accounted for 9 per cent of
GDP and 86 per cent of the
current account deficit over
the past five years.

“This year, foreign direct
investment in nominal terms
and as a share of GDP is like-
ly to decline as several impor-
tant projects have been tem-
porarily suspended,” the Wall
Street credit rating agency
added.

“We expect foreign direct
investment will continue to
finance about two-thirds of
the current account deficit
going forward.”

REQUEST FOR

PROPOSAL

BAHAMIAN SPECIALTY RETAIL SHOPS
NEW U.S, DEPARTURES TERMINAL AT LPIA

Qualified and interested parties may pick-up the Request for Proposal package at NAD's
offices at the reception desk on the second floor Domestic/International Terminal at Lynden

Pindling International Airport between the hours of 9:00am and 4:00pm, from October
13th to October 26th, 2009. A mandatory pre-proposal briefing for those who have picked
up packages will be held at the New Providence Community Centre, Blake Road on
Wednesday, October 28th at 10:00am.



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 5B



World markets drop amid China policy doubts

By JEREMIAH MARQUEZ
AP Business Writer

HONG KONG (AP) —
Global stock markets
dropped Thursday as weak-
ness on Wall Street and
uncertainty about Chinese
stimulus measures that have
pumped up the country’s
economy led investors to take
profits from a recent rally.

A number of markets in
Asia and Europe were lower
by one per cent or more,
while oil retreated from a
2009 high and the dollar
recovered modestly against
the yen and the euro.

Investors were spooked by
losses on Wall Street late
Wednesday after a leading
analyst downgraded major
US bank Wells Fargo & Co,
touching off more fears about
the financial sector. That com-
bined with growing anxiety
about the pace of the mar-
ket’s rise to drag the Dow
Jones index below the 10,000

level.

Meanwhile, news China’s
economy expanded at a heady
8.9 per cent in the third quar-
ter, in line with market expec-
tations, gave investors few
reasons to wade deeper into
the markets.

While the figures were seen
as mostly encouraging, some
analysts said Chinese exports
and private investment con-
tinued to lag, suggesting
growth was still largely the
result of enormous govern-
ment stimulus spending.

“The key message is that
China’s economy is recover-
ing and is on track to grow at
least eight per cent this year,
but it’s still imbalanced,” said
Kelvin Lau, regional econo-
mist at Standard Chartered
Bank in Hong Kong. “We’re
still hoping the rest of the
economy will recover as well.
Simply relying on public
investment can’t last forev-
er.”

With inflation tame and the

country’s export sector still
hurting, China was unlikely
to raise interest rates or do
anything else to significantly
tighten its monetary policies
this year, he said.

As trading started in
Europe, Britain’s benchmark
was down 1.6 per cent, Ger-
many’s DAX was off 1.9 per
cent and France’s CAC-40
lost 1.7 per cent.

Europe followed Asia,
where Japan’s Nikkei 225
stock average fell 66.22, or 0.6
per cent, to 10,267.17, and
Hong Kong’s Hang Seng
dropped 107.59 points, or 0.5
per cent, to 22,210.52.

In China, the Shanghai
index lost 19.18 points, or 0.6
per cent, to 3,051.41. South
Korea’s benchmark fell 1.4
per cent, Australia’s index
was off 0.5 per cent and Indi-
a’s market shed 1.2 per cent.

Analysts in China pointed
to budding concerns about the
direction of Beijing’s stimu-
lus programme for some of

“People”, Processes and Technology

Driving Business Value”

Our client has requested BHC Consulting to seek applicants for the position of:

IT ADMINISTRATOR

You will be responsible for the health and development of the Corporate Information Systems
and Network. Only candidates with the following qualifications should apply:

Degree in Computer Science or Engineering
Microsoft Certified Systems Engineer

Minimum of 1 year of experience in a similar position
Excellent verbal and written communication skills

Reporting to the Financial Controller, this is the ideal position for an individual who can work
independently with minimal supervision. You will be responsible for:

Supervision of the existing corporate information network

Ensuring that IT utilizes best practices and standards
Development of new IT initiatives that add value to the business

Remuneration package includes generous employee benefits.

Only candidates that meet the above criteria should respond via email (subject: IT Administrator)
and attach a “one page resume” and salary requirements to:

Brian Hassan, Principal Consultant

bhec@coralwave.com

Deadline: 21st October, 2009

FREE SEMINAR

You are

invited to attend a Free Financial

Seminar, organized by the Education Committee of
the Public Workers’ Co-operative Credit Union
Limited, to be held on Friday, October 23rd, 2009 at
the Office of the Bahamas Co-operative League
Limited Gustwestof Wendy’s, Oakes Field), beginning

at 6:30 p.m.

Come
and

See how you can stretch your

DOLLARS SSS

Featured Speakers:

Mrs. Stephanie Missick-Jones
(Credit Specialist-Bahamas Co-operative League Ltd.)

and Mr. Philip Greenslade

(Treasurer-Public Workers’ Co-operative Credit Union Ltd.)

Bring a friend-and get a prize for bringing the most guests.
Refreshments will be served



the losses.

Chinese Premier Wen
Jiabao said in a Cabinet meet-
ing Wednesday that policy
will focus on balancing eco-
nomic growth while manag-
ing inflation — raising wor-
ries over the potential impact
on lavish government spend-
ing.

“Today’s data fell within
expectations, but the Pre-
mier’s remark yesterday on
inflation control raised wor-
ries that the government
might tone down its stimulus
policies,” said Hu Xiaoyue,
an analyst for Shanghai Secu-
rities.

Markets have been on a
tear in recent weeks, with
benchmarks in the US and
Asia hitting new highs for the
year, as the ailing dollar and
massive liquidity encourage
investors to channel money
into stocks.

But some analysts have
been warning that investors
are increasingly complacent
about the risks facing the mar-
ket. One closely watched
measure of investor fears
about the market, the Chica-
go Board Options Exchange’s
Volatility Index, reached its
lowest level in a year on
Wednesday before jumping
higher.

The VIX is now around 22,
down nearly 45 per cent this
year. Its historical average is
18-20, and readings below 25
are often seen as a sign
investors are relaxed or com-
placent. It hit a record 89.5 a
year ago as the financial crisis
deepened.

In New York overnight, the
Dow Jones industrial average
fell 92.12, or 0.9 per cent, to
9,949.36, just above its low of
the day. It was the biggest
point and percent drop since

October 1.

The broader Standard &
Poor’s 500 index fell 9.66, or
0.9 per cent, to 1,081.40, after
reaching 1,101.36, its highest
level in the past year. The
Nasdaq composite index fell
12.74, or 0.6 per cent, to
2,150.73.

US futures augured a mod-
estly lower open on Wall
Street. Dow futures were
down 30 points, or 0.3 per
cent, at 9,871.

Oil prices slipped to near
$80 a barrel Thursday as a
wobbly US dollar steadied.
Benchmark crude for Decem-
ber delivery fell $1.13 to
$80.24 a barrel. The contract
jumped $2.25 overnight as the
dollar fell to its lowest since
August 2008.

In currencies, the dollar was
stronger at 91.28 yen from
91.00 yen. The euro fell to
$1.4972 from $1.4999.



Client Relationship Manager



SG Private Banking (Bahamas) Ltd., part of the
Société Générale Group, is a private bank

providing a comprehensive wealth

management service.

SG Private Banking is currently looking to

recruit a Client Relationship Manager. Your

of investment, trust and banking products
and fluent knowledge of Spanish. Some

knowledge of Portuguese would be an asset,

and proficient in the use of Computers. The

incumbent will be required to travel ona

regions.

primary role will be to introduce, maintain

and grow profitable client relationships in
Latin America for SG Private Banking

(Bahamas) Ltd and ensure adherence to legal,

regulatory and industry standards

You should ideally hold the Chartered

Institute of Bankers Diploma or equivalent

regular basis to designated marketing

The position offers an attractive salary and
benefits package including group insurances,

pension and bonus schemes.

Applications should be submitted to the

professional qualifications, and have at least

5 to 8 years’ international private banking/

marketing/sales experience.

You should have excellent client relationship

and selling skills, an in-depth knowledge

mss
Private Banking

SG Private Banking (Bahamas) Ltd. is

following address, to arrive on or before 28
October 2009.

Head of Human Resources

SG Private Banking (Bahamas) Ltd

PO Box N7785

Nassau

Bahamas

licensed under the Bank & Trust Companies Regulations Act

Julius Bar

Julius Baer Group, the leading dedicated Wealth Management is seeking
candidates for the position of:

SENIOR RELATIONSHIP MANAGER
CORE RESPONSIBILITIES:

Acquire new clients through personal network (within defined objectives
Acquire new client finders or EAM
Provide financial information to clients as requested

Create / Maintain a privileged relationship with new or existing clients
providing a service of excellence
Develop Julius Baer Bank & Trust as booking centre through Julius
Baer worldwide network

REQUIRED SKILLS:

Excellent French verbal and written communication skill

PC literate with strong Excel, Word, PowerPoint (ability to learn new
applications quickly)
Strong understanding of Swiss Private Banking industry creed and
regulatory framework

A commitment to service excellence

EXPERIENCE:

Minimum 10 years experience in Private Banking, Asset Management

or related field

EDUCATION:

A Bachelor’s degree with concentration in Economic, Business
Administration or equivalent.
The Securities Course Series 7 or equivalent.

FOREIGN LANGUAGES:

The ability to speak a third language (Italian, German, Spanish or
Portuguese) would be a strong asset.

We offer a very competitive compensation and benefits package, a stimulating
work environment and the opportunity to make a significant contribution to our
business while expanding your career.

Interested candidates should forward a copy of their resume by October 31“,
2009 to the attention of:

BY HAND:
Personal & Confidential
Human Resources

Ocean Centre, Montague Foreshore

P.O. Box N - 4890
Nassau, Bahamas

BY MAIL:

Personal & Confidential
Human Resources

P.O. Box N-4890

Nassau, Bahamas



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PAGE 6B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



BUSINESS ee
Lease extension granted to close $258m purchase

FROM page 1B

Point Holdings, had complet-
ed the deal with Statoil’s own
entity, Statoil South Riding
Point LLC.

Under its terms, Statoil
acquired the shares of Old
South Riding Point Holdings’
three Bahamian subsidiaries,
South Riding Point
(Bahamas), South Riding
Point Terminal and South
Riding Point Tugs, and its 50
per cent interest in Freepoint



Tug & Towing Services. The
latter operates a fleet of tug-
boats in Freeport.

Statoil and World Point
Terminals had originally
hoped to close the deal for
South Riding Point, which
includes 6.75 million barrels
of liquid bulk storage capaci-
ty in 10 tanks, on October 1,
2009, but this deadline was
missed in the wait for gov-
ernment approval.

Apart from National Eco-
nomic Council (NEC) and

Investments Board approval,
both of which fell under the
purview of the Cabinet or a
Cabinet subcommittee, Sta-
toil also had to win permis-
sion for the lease transfer and
a 30-year extension to its
tenure from South Riding
Point's landlord, the Bahamas
Agricultural and Industrial
Corporation (BAIC).

Existing

The existing lease on the
763-acre South Riding Point
site, which includes 155 acres

of land, the rest being the sea
bed and offshore jetty, expires

in 2019.

Statoil, which has leased
space at the oil storage, blend-
ing and transshipment facility
for the past 16 years, sees
South Riding Point's acquisi-
tion as a logical extension to
its long-term growth strategy.

South Riding Point, which
employs 55 Bahamians and
features 10 storage tanks and
two berths, is well-positioned
for the increasing advances
Statoil wants to make into the
US market, and the increasing
volume of oil being shipped
from Brazil. Statoil's lease at
the site was due to end short-
ly, and it seemingly believes

that ownership/control at
South Riding Point would
better aid its cause.

Executive

At the time, Jon A Jacob-
sen, Statoil's executive vice-
president for manufacturing
and marketing, said of the
planned purchase: "It will
strengthen StatoilHydro's
marketing and trading posi-
tion in North America by
securing the full terminal
capacity. StatoilHydro's
objective is to upgrade the
terminal to allow for blend-

ing of all types of crude oils,
including heavy oils."

The Statoil deal is the sec-
ond acquisition of a Grand
Bahama-based oil storage ter-
minal within two years, the
first being the purchase of the
BORCO terminal by First
Reserve and Vopak for
around $900 million in 2008.

The South Riding Point
deal has no connection to Sta-
toil’'s entrance into the
Bahamas in May 2009, when
it announced its oil explo-
ration joint venture with BPC
Ltd in the southwestern
Bahamas.

NT
NAD

Nassau Airport
Development Company

C-292 Security Systems

Nassau Apt Dawekonen! Company (MAD) is eased bo
announce the release of RFP C282 Security Syaverre for Sage
Zand 3of the Lynden Finding Intemational Airport Exparseon with
Siage | awarded al istime

The scope of work includes:

4 Anosss Conind System - to control acness jo anges walhin the
amport in aullonged personnel

«Vides Surveillance Syston -— ool reno poms of meres
wenn and anund (he aaport terminal budding: and

4) Iterom Gommuniesdon System - to faciitate baw vay wolcn
SOTITUTCHI en Dataran eaulbnis ramoie sahara nal points

The proponent shell be duly responsable Gor fe desegn and
Impementaton of the Scope of Workdesonbed nthe AFP and shall
mabe: manimum usc of commendal off tha shalf products and
fechnalng igs

The C292 REP Documents will be avadable for peck up aller
1:00pm, Thursday October ist, 2008. Abide meeting
wil be held af fii am, Friday October Sth, 2006
Pleas conlact Tha Bisby in regester al he AAD Pinger oicn

Contact TRAC BRISBY

Contracts aed Procurement Wlarager

Ph: (2d) POD 1088 Fave Cy PTT
PQ) Rex AP S09), Micke Peale ies
Email baa briebyiinas bs

Employment Opportunity

A well established business within New
Providence is in search of an Inventory
Control Manager. Inquires must be
able to organize and set up an easy
manageable inventory control system
that includes monitoring and organizing
Building & Hardware and Plumbing
& Electrical Supplies. The successful
candidate must posses the following
skills

Be able to:

¢ Track and follow-up on all shipment
from Suppliers.

* Receive and validate all shipped
items.

* Organize a comprehensive store
delivery system.

* Organize and/or Improve items
location on the sales floor area.

« Maintain a proper data base so
that management and staff have an
accurate record of all In-stock items

« Manage inventory control staff.

The successful applicant must have
a minimum of 3-5 years inventory
and stock taking experience. He/she
must be familiar with the Microsoft
word & excel software. Warehouse
management and Stock taking training
with certificates would be desired.

Salary would be based on qualifications
and experience.

Interested applicants are asked to
apply through the following address:

The President

Re: Inventory Control Manager
P.O.Box N-7143

Nassau, Bahamas

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

PLATINUM STAR GROUP LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act,
No. 45 of 2000, the Dissolution of PLATINUM STAR
GROUP LTD. has been completed, a Certificate of Dis-
solution has been issued and the Company has therefore
been struck off the Register. The date of completion of
the dissolution was the 13th day of October, 2009.

Alrena Moxey
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

PLEAMMER INVESTMENTS
HOLDINGS LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act, No.
45 of 2000, the Dissolution of PLEAMMER INVEST-
MENTS HOLDINGS LTD. has been completed, a Cer-
tificate of Dissolution has been issued and the Company
has therefore been struck off the Register. The date of
completion of the dissolution was the 13th day of Octo-
ber, 2009.

Alrena Moxey
Liquidator

Legal Notice

NOTICE
ACCRINGTON HOLDINGS LTD.

—— a

#

Notice is hereby given that in accordance with Section 138
(8) of the International Business Companies Act 2000, the
dissolution of ACCRINGTON HOLDINGS LTD. has
been completed; a Certificate of Dissolution has been issued

and the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
NIPSON GREEN INVESTMENTS LTD.

SS

£

Notice is hereby given that in accordance with Sec-
tion 138 (8) of the International Business Companies
Act 2000, the dissolution of NIPSON GREEN
INVESTMENTS LTD.

Certificate of Dissolution has been issued and the

has been completed; a

Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Share your news

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

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

Legal Notice

NOTICE

AVE MARIA HOLDINGS LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 21st day of October 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

TERRA FIRMA VENTURES LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 21st day of October 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

NOTICE

IN THE ESTATE OF DAVID
ARTHUR BROWN also known
as DAVID A. BROWN late

of 4644 Isleta Avenue in the
City of San Diego in the State
of California one of States 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 27'° November, 2009 after which date
the Administratrix will proceed to distribute the
assets of the Estate having regard only to the
claims, demands or interests of which she shall
then have had notice AND all persons indebted
to the above Estate are asked to settle such
debts on or before 27" November, 2009.

FREDERIK F. GOTTLIEB & CO.
Attorneys for the Administratrix
P.O. Box AB-20405

Bay Street, Marsh Harbour
Abaco, The Bahamas



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 7B



INTERNATIONAL BUSINESS



Halloween stores pop
up in old retail haunts

By MAE ANDERSON
AP Retail Writer

NEW YORK (AP) — The
recession hasn’t been so scary
for Halloween stores. In fact,
they’re finding better haunts
in the graveyards of failed
retailers.

The seasonal sellers are tak-
ing advantage of the spate of
retail bankruptcies and clos-
ings to open more — and
larger — temporary stores
this year in better locations. It
adds up to an aggressive bid
to capture cautious con-
sumers’ dollars in an industry
that has grown rapidly over
the past decade.

Spirit Halloween has raised
83 former Circuit City stores
from the dead, part of the 100
stores it has added to the 625
it had last year.

Other smaller competitors
are also taking bigger bites
this year: Halloween Express,
based in Owenton, Ky., and
Halloween Adventure, based
in Garnet Valley, Pa., have
each added about 10 new
stores this year.

Since Halloween falls on a
Saturday this year — the best
day according to those in the
industry since more adults
throw parties — retailers are
hoping for brisk business.

Despite the recession, mar-

ket research firm IBISWorld
Inc. expects 2009 sales for cos-
tumes and decor to rise three
per cent to $3.8 billion this
year compared with a year
ago. Halloween Adventure
CEO Joe Purifico confirmed
sales were “trending up” as
the company headed into the
important two-week stretch
before Halloween.

But seasonal retailers —
which make about 70 per cent
of their sales in September
and October — face tough
competition for market share
from lower-priced retailers
such as Target Corp. and
Wal-Mart Stores Inc., so visi-
bility is key.

“The bigger the storefront,
the bigger impression you
have on the consumer and
that’s the big plus,” said Spir-
it Halloween vice president
of operations Tony Detzi.

They stores say they’re not
really saving much on rent,
but spending similar amounts
to get better locations.

The Spirit Halloween on
Manhattan’s Upper West
Side was bustling on a recent
afternoon. Kids alternately
marveled and screamed at the
decor on the first floor —
including a life-size Michael
Myers from “Halloween” —
while shoppers browsed cos-
tumes ranging from knights

in armor to sexy nurses, most
for around $30, on the second
floor.

Lucy Mateo, 40, an execu-
tive assistant in New York
who works nearby, was sur-
prised at the speed the vacant
Circuit City morphed into
Spirit Halloween. “I didn’t
even know it was under con-
struction.”

Closings

Empty retail space from the
closings of Circuit City,
Mervyns, Linens ’N Things
and Home Depot’s Expo
Design Center have given the
temporary stores plenty to
work with.

Suzanne Mulvee, senior
economist at Property & Port-
folio Research, estimates
there is 269 million more
square feet in vacant retail
space — the equivalent of
about more than 5,000 full-

size Best Buy stores — across
the country compared with a
year ago. That gives retailers
bargaining power, she said.

“A year ago they were in
the corner of the mall, where
no one went to,” she said.
“Now there are all these
choices.”

Shuttered big-box stores
also let retailers have more
space, which ultimately trans-
lates into more dollars for sea-
sonal retailers.

“Tt helps to make the store
more shoppable, there’s more
floor space to put out all the
product that you want and
still have enough elbow room
for customers,” said Hal-
loween Adventure’s Purifico.
The average square footage
for Halloween Adventures
stores grew from 8,000 to
10,000 this year.

If you try to cram too much
into a smaller store, “the store
becomes a maze,” he said.

NOTICE
INTERHATIONAL BUSINESS COMPAMES ALT
Ko. 45 af 2000
WORLDWIDE ENTERTAINMENT MAMAGEMENT 5A

NOTICE is hereby given that SHERLINE JEAN LOUIS of
CARMICHEAL ROAD, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship, for
registratior/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 23rd day of October, 2009
to the Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE is hereby given that WILSON PETIT-HOMME of
FIRETRAIL ROAD, NASSAU, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person

who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the facts
within twenty-eight days from the 23rd day of October, 2009
to the Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that URA BELLE CLARKE of P.O.
BOX SS-5612, 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 16th day of October, 2009 to the Minister
responsible for nationality and Citizenship, P.O. Box N-7147, Nassau,
Bahamas.

NOTICE

NOTICE is hereby given that GEORGY ALCITA of TALL
PINES OFF GLADSTONE ROAD, NASSAU, BAHAMAS,
is applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement of the facts
within twenty-eight days from the 16th day of October, 2009 to the
Minister responsible for nationality and Citizenship, P.O. Box N-7147,
Nassau, Bahamas.

MOTICE
(NTERMATIONAL BUSINESS COMPANIES ACT

No. 45 of 00
LECCIAND WAMBGEMENT $4

Wotca Is herby given that in accordance with Secon 137 of The Intemational Buianess
Compares Act No. 45 of 2f00, LECCIANO MANAGEMENT 6.0, is in dissdution. The
dele of commencement of deeolution was the 1th day of Ociobar 208. Dillon Dean of
Hassau, Bataras is fhe Liguidater a! LECCIANO MANAGEMENT $4.

Dilon Dean
LIQUIDATOR,

Meice a hanay great that in accordance wih Section 137 of The Intemational Besiness
(Companies Act We. 45 a! 2000, WORLDWIDE ENTERTAINMENT WAMAGEMENT SA ia in
dasdeies, The date of commescament of desolution wes tha 19th day of October, 2008
Gillon Dean cf Hassau, Bahari fs tte Liguidalo: of WORLDWIDE ENTERTAINMENT
MANAGEMENT SA,

NOTE
INTERNATIONAL BUSINESS OOMPAMES ACT
Ne. dE of 2000
SELLA GMBH

Weice i hereby green [hat in accordance wih Secion 137 of The inlamationel Busines:
Cenpanies Add No. 45 of 2000, BELLA GINBH is in chesalvtion. The date of continencement of
dissaiion wes tha th coy of Coster 2008. Dillion Dean of Nass. Baharnas is the
Liguitalst of SELLA GiB,

Dillon Dean
LIOQUDATIR

INSIGHT

For the stories

behind the news,
read Insight
on Mondays











































MOTICE
TERNATIONAL BUSINESS COMPANIES ACT

No, 45 of 2000
GUANA COMSULTING GMBH

Welice is hereby given that in eccordance wih Section 137 of The Intemational Business
Companies Act No. 45 of 2000, IGUANA CONSULTING GMBH is in dissolution, The date
of conmencament of clssolidon mas the {6h day of Octrber 2008. Oillen Dean of Nassau
Bahamas is he Linuideter of IGUANA CONSULTING GMBH.

MOTICE

INTERMATIONAL BUSINESS COMPANIES ACT

Ke. 4 al 2000
GEMINI MANAGEMENT HOLDING §.A,

Hedoa is Havaby given thal in accorcence wit Section TH of The Irleeiaiocal Business
Companes Act No 45 of 2000, GEMINIS MANAGEMENT HOLDING S.A. é in
Sessiuten The date of commencenant of dessolution wae the (ih day of October 2008, Dillon
Dean of Nassau Bahamas is the Liguidatr of GEMINIS MANAGEMENT HOLDING
S.A.

NOTICE
INTERMATIONAL BUSIMESS COMPARIES ACT
Me. 45 of 2000

WRGO INVESTMENT HOLDINGS LIMITED

Mofoe is hereby given thal in accordance with Section 137 of The htemationsl Business
Companies Act Mo, 45 of 2000, VIRGO INVESTMENT HOLOUWGS LIMITED is in dissolution.
The dala of commencement of dseolon was tha th dey of Cetobar, 2008: (Dillon Dean of
Nassau, Bahamad 6 [ie Liqudaler o! VIRGO INVESTMENT HOLDINGS LIMITED.

Dilen Daan
LIQUIATOR

Real Esta |

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Everywhere The Buyers Are!

ee

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——



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 9B



INTERNATIONAL BUSINESS



China’s economy expands
8.9 per cent in third quarter

By ELAINE KURTENBACH
AP Business Writer

SHANGHAI (AP) — Lavish gov-
ernment spending and bank lending
helped China’s growth rate acceler-
ate to an 8.9 per cent pace in the
third quarter, far outstripping expan-
sions elsewhere around the globe
and raising questions about whether
the rapid rebound can be sustained.

China also announced Thursday
that industrial production and invest-
ment spending are growing at a
faster pace. That seemingly good
news unsettled local stock investors,
however, on fears Beijing may need
to rein in its stimulus policies to
avoid asset bubbles and inflation.

Companies, central bankers and
political leaders around the world
are increasingly counting on growing
demand from Chinese producers and
consumers to offset sluggish home
markets. Corporations from Coke
to Caterpillar are seeing their
strongest sales in Asia, particularly
China. So far, the growth is coming
mostly from government-backed
spending on construction and other
projects, but demand from China’s
traditionally frugal, still relatively
poor consumers is also rising.

The world’s third-largest econo-
my began to falter in late 2008 as
exports plunged and thousands of
factories shut down, throwing mil-
lions out of jobs. China fought back
with a four trillion yuan ($586 bil-
lion) stimulus plan involving mas-
sive spending and bank lending for
construction of infrastructure such
as railways and roads to pump up
the domestic economy.

Growth fell to a low of 6.1 per
cent in the first quarter, but rebound-

THE WEATHER REPORT {i

5-Day ForREcAST

ORLANDO



A VENDOR sleeps surrounded by his vegetables at a market in Suining in southwest

China’s Sichuan province.

ed to 7.9 per cent in the second quar-
ter, hitting 8.9 per cent in the third
quarter compared with a year earli-
er. That puts the economy on track
to at least meet the official target of
an eight per cent expansion for 2009.

With China in the forefront, “Asia
appears to be leading the global
recovery,” Federal Reserve chair-
man Ben Bernanke said earlier this
week. “Recent data from the region
suggest that a strong rebound is, in
fact, under way.”

Yet sustaining the upswing beyond
a few quarters hinges on stronger
demand for exports from important
markets such as the US, Europe and
Japan which are emerging only slow-
ly from the worst global recession
since World War II.

“We'll see strong growth from
China for the next six months, pos-
sibly another year,” said Standard
Chartered Bank economist Stephen
Green. “The problem is what hap-
pens after another year and a half.
What will be the growth driver

Partly cloudy, a

Partly sunny, a couple

High: 88°F/31°C
Low: 69° F/21°C
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High: 87° F/21°C ~
Low: 73°F/23°C

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High: 88° F/31° C
Low: 76° F/24° C
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High: 86° F/30°C
Low: 78° F/26°C

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INSURANCE MANAGMENT TRACKING Map

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2 mons: 74°F/23°C

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Low: 77°

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77°F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure,
and elevation on the human body—everything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

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Highs: 77°F/25°C

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(AP Photo)

then?” he said.

Signaling another set of concerns,
China’s top leaders said Wednesday
that policies will increasingly focus
on countering inflation — a prob-
lem that had seemed below the hori-
zon with consumer prices down 1.1
per cent so far this year. They also
resolved to clamp down on waste,
industrial overcapacity and other
imbalances brought on by the rapid
resurgence in growth.

Still, the announcement that
growth continued to accelerate in
the third quarter contained a hint of
jubilation over Beijing’s progress in
mending damage from the global
economic crisis.

“We can say we have made obvi-
ous and remarkable achievements
in our economic growth,” National
Statistics Bureau spokesman Li
Xiaochao told reporters in Beijing.

“We have quickly reversed the
economic slowdown. The momen-
tum of the recovery is solid and over-
all, our economic performance is

Partly sunny, a
t-storm; breezy
High: 87°
Low: 77°
PCr mtd etd
100°-82° F

ABACO
High: 86° F/30° C
Low: 77° F/25°C

A
v

FREEPORT
High: 86° F/30°C 4
Low: 76° F/24°C o

NASSAU
High: 86° F/30°C
Low: 77° F/25°C

@

A


ANDROS
High: 86° F/30°C
Low: 77° F/25°C

8- io knots

Shown is today's
weather. Temperatures
are today's highs and

tonight's lows.

NN

89°F/32°C

» Antigua
ighs: 87°F/31°C

Barbados
Highs: 86°F/30°C

9 Trinidad
_ Tobago
SQ Highs: 89°F/32

x
NN
c

= i

Partly sunny, a

showing signs of improvement,” Li
said.

Industrial output rose 8.7 per cent
in the first three quarters of the year,
and 12.4 per cent in July-September
— signaling accelerating demand for
steel and other industrial goods.

While China’s imports still fall far
short of its exports, its recovery is
playing a stabilizing role for other,
harder-hit economies, said David
Cohen, director of Asian economic
forecasting for the consultancy
Action Economics in Singapore.

“The Chinese are the biggest cus-
tomers for many countries around
the world,” he said. “They matter
like never before.”

Surging purchases of coal, iron ore
and other minerals have aided glob-
al miners BHP Billiton and Rio Tin-
to.

Automakers such as Ford Motor
Co. and General Motors Co. are
increasingly reliant on China with
its auto market surging ahead of the
US to become the world’s biggest
this year.

Caterpillar Inc., which makes
heavy equipment, raised its earnings
forecast for the year because of per-
formance in Asia, its best-perform-
ing region. Deliveries of its products
in China were higher than they had
ever been for the third quarter.
Coca-Cola Co. plans a $2 billion
investment along with its bottlers in
China in the next three years to meet
the growing popularity of fizzy
drinks.

Even as China’s rapid recovery
sees it loom ever larger for compa-
nies in the West, it is grappling with
problems that could undermine that
progress.

Heavy reliance on spending on

=F

——

Partly sunny, a Periods of sun,

public works and other investments
has raised worries that wasteful and
redundant outlays on new factories
and unneeded construction will
worsen gluts, while inviting finan-
cial problems as projects fail to pay
off.

Record bank lending has also
helped spur potentially unhealthy
run-ups in property and share prices.
On Wednesday, top bank regulator
Liu Mingkang ordered banks to
show more caution in lending in
coming months.

The government this week also
outlined fresh curbs on investments
in steelmaking and other industries
plagued by massive overcapacity.

China’s planners are seeking to
widen the sources of growth beyond
exports and investment in state-dom-
inated industries by channeling
spending to areas of the economy
expected to spur more consumer
spending and improve productivity.

While China’s domestic con-
sumption remains low compared
with other major economies, it is ris-
ing. Retail sales grew 15.1 per cent in
the first three quarters, the statistics
bureau said. Housing sales have
been rising and new housing starts
are also picking up.

“T never trusted what the econo-
mists were saying on TV about the
recovery until our orders doubled
last month. Now I’m convinced,”
said Zhang Yizheng, general man-
ager of Shanghai Rising, a trading
company that deals in plastic pipes
used mainly in vehicles.

“Our orders from car makers,
electric equipment makers and con-
struction companies tell me that
their business is returning to nor-
mal, too.”

INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

TT) a eg

0|1|2|3

Low

la[5

MODERATE

6|7

HIGH

8|9f10

V. HIGH

The higher the AccuWeather UV Indexâ„¢ number, the

t-storm possible

High: 87°
Low: 79°
PCR Lm tet gtd |
92°-85° F

<< >

a

t-storm possible greater the need for eye and skin protection

High: 87°
Low: 78°
AccuWeather RealFeel
92°-82° F

t-storms possible

High: 88°
Low: 78°
PCE r met ml) |
99°-86° F

TIDES For NASSAU
High Ht.(ft.

11:04am. 3.0
11:26 p.m. 2.4

11:54 a.m.

Low

Today
5:38 p.m.

5:27 a.m.
6:30 p.m.

6:22 a.m.
7:25 p.m.

7:22 a.m.
8:18 p.m.

8:24 a.m.



Saturday



Statistics are for Nassau through 2 p.m. yesterday

Temperature

86° F/30° C
. 75° F/24° GC :
"84° F/29° C 1:44 p.m.
. 72° F/22° © Tuesday 2:19
Last year's high . 88° F/31° C : 2:39 . an
Last year's low 78° F/26° G
Precipitation
As of 2 p.m. yesterda’ Ot"
Year to date
Normal year to d

12:21 a.m.
12:48 p.m.

1:20 a.m.

Sunday



Monday

Normal high
Normal low

Wednesday 3:14 a.m.
3:30 p.m.



10:16 a.m.
10:34 p.m.

Thursday 4:03 a.m.
4:16 p.m.



AccuWeather.com

Forecasts and graphics provided by
AccuWeather, Inc. ©2009

eM

Sunrise. .....7:12a.m.
Sunset....... 6:36 p.m.

First Full

@€: Ce 7

Oct. 25 Nov. 2

SAN SALVADOR
High: 85° F/29°C
Low: 76° F/24°C

A
<7 & >
Vv
12-25 knots

. MAYAGUANA
a j High: 86° F/30° C
’ 3 Low: 76° F/24°C

ELEUTHERA
High: 86° F/30°C

Low: 78° F/26°C 12:13 p.m.

10:54 p.m.
New

Moonrise ...
Moonset....

Last

CATISLAND
High: 85° F/29°C
Low: 74° F/23°C

Nov. 9 Nov. 16

GREATEXUMA or
High: 87° F/31°C
Low: 76° F/24°C

core

ay

IX
LONG ISLAND
High: 86° F/30° C
Low: 76° F/24°C

CROOKED ISLAND / ACKLINS

High: 88° F/31°C
RAGGEDISLAND = ow:78°F/26°C
High: 86° F/30° C
Low: 75° F/24°C
GREAT INAGUA
High: 89° F/32°C
Low: 77° F/25°C

-
Tee

Cm
A
<1 A >

Vv

8-16 knots

A
<1 ZW >

7-14 knots

MARINE FORECAST

WINDS
E at 12-25 Knots
urda S$ at 20-30 Knots
oday: NE at 8-16 Knots
Saturday: SW at 4-8 Knots
oday: SE at 12-25 Knots
Saturday: SE at 8-16 Knots Feel 10 Miles g4e
CROOKED ISLAND Today: S at 8-16 Knots Feel 3 Miles 84°
Saturday: ESE at 8-16 Knots -4 Fee 6 Miles g4e
ELEUTHERA oday: E at 15-25 Knots 2 Feet 4 Miles 83°
Saturday: SSE at 10-20 Knots -8 Fee 10 Miles 83°

FREEPORT oday: ENE at 10-20 Knots Fee’ 10 Miles 82°
Saturday: SW at 7-14 Knots Feel 5 Miles 82°
oday: N at 8-16 Knots Feel 5 Miles 83°
Saturday: SSE at 8-16 Knots Feel 5 Miles 83°
oday: S at 7-14 Knots Feel 5 Miles 4°
Saturday: ESE at 7-14 Knots Feel 6 Miles 84°
LONG ISLAND oday: SSW at 10-20 Knots Fee’ 3 Miles 84°
Saturday: SE at 8-16 Knots Feel 10 Miles 84°
lay: SSE at 10-20 Knots Feel 4 Miles 84°
urday: ESE at 10-20 Knots Feel 6 Miles 84°
lay: ENE at 12-25 Knots Feel 10 Miles 83°
Saturday: _S at 10-20 Knots Feel 10 Miles 83°
lay: SW at 7-14 Knots Feel 10 Miles 84°
Saturday: SE at 7-14 Knots Feel 10 Miles 84°
lay: SE at 12-25 Knots Feel 4 Miles 84°
urday: SSE at 8-16 Knots Feel 10 Miles 84°

WAVES
6-10 Feet
6-10 Feet
Feel
Feel
0 Feet

VISIBILITY WATER TEMPS.
10 Miles 81°

5 Miles 81°
10 Miles 83°
10 Miles 83°
3 Miles 84°

ABACO

oday:

ANDROS

CAT ISLAND

No Go] Nd Go] B]— —]nd no] {4 no]oo dojn9 poleo D]— A>
Boo PO] A ON coleo cols Aloo coleo Bloo a/R [or ano BY

GREAT EXUMA

GREAT INAGUA

MAYAGUANA

Sa
NASSAU

SAN SALVADOR







RAGGED ISLAND













INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM



TRIBUNE SPORTS

FRIDAY, OCTOBER 23, 2009, PAGE 9



INTERNATIONAL SPORTS
a

For the action
www. tribune 242 cor

Wallace helps
Celtics beat
Shaq and Cavs

By RUSTY MILLER
AP Sports Writer

COLUMBUS, Ohio (AP)
— The Boston Celtics rested
two-thirds of their Big Three.
Everybody else was up to the
task.

Eddie House scored 21
points as the Celtics rolled to
a 96-82 victory over the
Cleveland Cavaliers in a pre-
season game Wednesday
night.

"We got a win. We closed
the preseason out right,” said
House, who hit 8 of 14 shots
from the field including three
3-pointers.

Kevin Garnett and Ray
Allen didn't play for the
Celtics, coach Doc Rivers say-
ing before the game that he
had also asked Paul Pierce to
rest. Pierce, however, started
and played just over 13 min-
utes and scored 11 points.

"IT was just trying to stay
sharp,” Pierce said.

"We've got five, six days
before we play again. I
thought it was good for me to
go out there."

The two teams meet again
in the season opener on Tues-
day in Cleveland.

"IT don't care where it is
when you play the Cavs,”
Pierce said. "They're a team
that we probably are going to
have to go through in the
Eastern Conference. They're
going to be right up there at
the top if they stay healthy.
It'd be great to get a win in
that building.”

Marquis Daniels scored 17
points, Kendrick Perkins 13
and Rasheed Wallace 10 for
the Celtics (6-2). They were
on top 32-22 after a quarter
and never trailed again, lead-
ing by as many as 21 points
in the third quarter.

LeBron James scored 18
points, Shaquille O'Neal 16
and Anderson Varejao had
10 for the Cavaliers (3-4).

os 6 @

&



The

RASHEED WALLACE shoots during the first quarter of a preseason game against the New Jersey Nets...
(AP Photo: Bill Kostroun)

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on Nets sale,
return of refs

By BRIAN MAHONEY
AP Basketball Writer

NEW YORK (AP) —
David Stern says the sale of
the New Jersey Nets to Rus-
sia’s richest man could be
approved by the end of the
year.

Stern said Thursday that
Mikhail Prokhorov, who has a
deal to buy 80 per cent of the
team, had a positive intro-
duction with NBA owners
during their two-day Board
of Governors meetings.

Prokhorov’s application is
currently under review and
the sale must be approved by
three-fourths of the league’s
owners.

Stern also says he’s hope-
ful the referees will approve a
new contract with the league
that would put them back to
work for the start of the reg-
ular season.

The commissioner also says
owners voted to give the
league office emergency pow-
ers to determine what hap-
pens if teams can’t field the
minimum eight players
because of illness.

Jazz pounce on Blazers, 108-97

By ANNE M PETERSON
AP Sports Writer

PORTLAND, Ore. (AP) — After
a dominating preseason win over the
Portland Trail Blazers, Carlos Booz-
er feels like the Utah Jazz are ready
for the regular season.

"We've got to tighten up some
stuff," he said. "We've got to take
care of that full-court press a little
better at the end of the game, I'm
sure we'll get over it tomorrow. But
for the most part, I think we did a
good job defensively, especially in
the half court. We did a good job of
helping each other."

Deron Williams had 27 points and
Boozer and Ronnie Brewer each
added 16 in Utah's 108-97 presea-
son victory over Portland on Tues-
day night.

The Jazz (4-2), missing Kyle Korv-
er and C.J. Miles because of injuries,
led by as many as 25 points.

"T don't have all our players here,
that's the thing that's always diffi-
cult,” coach Jerry Sloan said about
the impending season. "But we're
going to play anyway, and I've
always believed that if you come and
play hard as a team, you always have
a chance."

Jerryd Bayless had 16 points for
the Blazers (3-4), who overall
seemed both tired and out of sorts.
Brandon Roy had 15 points and
Travis Outlaw added 10, all in the
first quarter.

"We just looked like we hadn't
seen each other today,” Roy said.
"It's almost like a quarterback play-
ing with a receiver he's never played
with before.”

Utah center Mehmet Okur
returned after missing Sunday's vic-
tory over Charlotte with a sore back
and contributed five points.

The Blazers made a surprise move
when Juwan Howard started at for-
ward instead of LaMarcus Aldridge,



After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude



CARLOS BOOZER dunks in the first quarter of their preseason game...
(AP Photo: Rick Bowmer)

who had a left shin contusion and
was a last-second scratch. Howard
was acquired by Portland as a free
agent in the offseason.

Portland lost forward Nicolas
Batum early in the game with a hip
injury.

The Blazers were already without
center Greg Oden, who bruised his

thigh on Sunday in Portland's come-
from-behind victory over Denver.

Blazers swingman Rudy Fernan-
dez missed the game because of a
bad back, and coach Nate McMil-
lan said he's unlikely to play in the
preseason finale Thursday against
Phoenix in Vancouver, British
Columbia.



GREG ODEN can be seen during media day. After an inconsistent debut season, Oden
reinvented himself during the summer by shedding 15 pounds, adding a couple of

new moves and changing his attitude...

The Jazz led by as many as 13
points in the first quarter, jumping
on the dazed Blazers. About the
only spark for Portland was Outlaw,
but even that was short-lived.

Utah's dominance continued as
Kyrylo Fesenko's running jumper
extended the lead to 40-26.

The Jazz led 59-40 at halftime, and
Boozer's tip-in stretched the lead to
85-61 at the end of the third quarter.

Both teams pretty much sat their
starters for the final quarter.

The officials drew the ire of fans
— who chanted their displeasure —
with a few questionable calls, but
there was word earlier Tuesday that
the NBA's labor dispute with the
referees’ union may be drawing to a
close.

A person familiar with the nego-
tiations told The Associated Press
that the league has made a new pro-

a
rt

_- — a

(AP Photo: Don Ryan)

posal. The person, who requested
anonymity because the negotiations
are ongoing, said it's "highly likely"
the referees will be back for the
opening of the season.

The Jazz, who went 48-34 last sea-
son before falling to the eventual
NBA champion Los Angeles Lakers
in the first round of the playoffs, vis-
it the Sacramento Kings for the pre-
season finale before opening at Den-
ver on Oct. 28.

Portland won 54 games last season
but fell to the Rockets in the first
round of the playoffs. After wrap-
ping up the season against the Suns,
the Blazers open at home against
Houston next Tuesday.

Portland tried to acquire Utah for-
ward Paul Millsap in the offseason,
signing the restricted free agent to an
offer sheet. But the Jazz matched
the offer.

a

*

~~
at

BAHAMAS

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Full Text
7, Lhe Tribune

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christ icin
as PLP leader

Former PM
secures a
reported
84% of vote

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

SECURING a reported 84
per cent of the vote, former
Prime Minister Perry Christie
was re-elected as leader of
the Progressive Liberal Party
yesterday in the largest
turnout the party has seen in
years at any national conven-
tion.

Thumping his colleague
and former leader of Opposi-
tion Business Dr Bernard
Nottage, Mr. Christie. also
defeated PLP newcomer Paul
Moss who came in third in
the’ race securing only a hand-
ful of votes, according to
reports from the convention
floor.

Thanking the party dele-
gates and PLP stalwart coun-
cillors for yet another oppor-
tunity to lead them, Mr
Christie said that now is the
time for the PLP to come
together and conduct itself in
a “mature” fashion.

SEE page 12

Tartan TV he
Fie SoA Cu

Lee La le
Frequency o/

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OTHELLO MGs

Patrol car responding to call
collides with cement truck

A POLICE officer was killed and two
others injured when their patrol car col-
lided with a cement truck yesterday.

The three officers were responding to
reports of a major disturbance in the
Sunshine Park area when the crash hap-
pened. Assistant Commissioner of Police
Hulan Hanna said that as is standard
procedure, the unit’s siren and beacon
lights were on.

According to reports, the patrol car
was travelling east on Carmichael Road
as a small white car was pulling out of
Fire Trail Road.

It is understood the patrol car had to

_take evasive action to avoid crashing into

the car. A cement truck, however, was

mreynolds@
tribunemedia.net



travelling west, inithe opposite lane,
when the patrol car collided into it. The

incident happened at about lpm

One of the officers, the front seat pas-
senger, died at the scene, while two oth-
ers were taken to hospital. The driver of
the cement truck escaped without
injuries.

Although police have not-confirmed
the identity of the victim, The Tribune
has been informed he is Othello Darville,
a married father of two children.

“On behalf of the Commissioner of
Police and all police officers, I want to
extend condolences to the family of our

SEE page eight



PLP MP Picewell Forbes will appear before Senior
Justice Anita Allen today to explain why he should not
be held in Contempt of Court.

The South Andros MP announced at the Progressive
Liberal Party convention on Wednesday night how PLP
Senator Pleasant Bridgewater had been acquitted of

SEE page eight





Felipé Major/Tribune staff

Picewell Forbes.
to appear before
Senior Justice

By MEGAN REYNOLDS
Tribune Staff Reporter



Davis takes
PLP Deputy
Leadership

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

MP FOR Rum Cay, ‘Cat
Island and San Salvador,
Phillip “Brave” Davis yester-
day saw his intensive cam-
paigning throughout the
Bahamas pay off as he
scooped the Deputy Leader-
ship of the Progressive Lib-
eral Party at its national con-
vention.

According to unofficial
results, Mr Davis - who
received the public support
of incumbent Deputy Leader
Cynthia “Mother” Pratt prior
to the convention - won
around 760 votes, while MP
for West End and Bimini

SEE page eight
FNM hits
back at

PLP over
economy

THE PLP’s attempts to
blame the downturn in the
economy on the FNM shows
how desperate they are,
according to the governing
party.

In a statement issued last
night, the FNM said the glob-.
al economic crisis was not cre-
ated in the Bahamas, and that
the impact on the public has
been eased by the govern-
ment’s response.

“Frustrated by their own
state of disarray and anxious
to find an issue they can
exploit in the next general
election, PLP leaders persis-
tently try to blame the FNM
for the downturn in the econ-

SEE page 12



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PAGE 2, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 3



PLP CONVENTION COVERAGE



.
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—
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Felipé Major/TF

ye MOSS shakes hands wit





By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

AMID some controversy
over his eligibility as a can-
didate, late comer to the
race for PLP national chair-
man Bradley Roberts yes-
terday regained the reins of
what. some call the most
important office in the pat-
ty at the PLP convention.

Despite initial contention
over whether or not he was
nominated in the correct
fashion, Mr Roberts capi-
talised on his past profile as.
“Big Bad Brad” - the polit-
ical fighter with a loud voice |
- defeating incumbent chair-
man Glenys Hanna-Martin,
along with contenders Keod
Smith and Kenred Dorsett.

While early reports from
Mr Smith’s camp indicated
that he might challenge the
outcome of the vote given
that Mr Roberts was not

nominated by a-registered .

delegate, later in the day
Mr Smith was less combat-
ive, suggesting he would
leave the matter up to the
Rules and Credentials
Committee of the party to
determine.

Meanwhile, both Ms
Hanna Martin and Mr
Dorsett suggested that the
party had made its choice
clear in voting for Mr
Roberts and while there
were some initial concerns
over the manner in which.
he was nominated, they
would now wish for the
organisation to focus onâ„¢
party business and not
engage in internal feuds.

Mr Roberts was the last
person to enter the Chair-
manship race, publicly
announcing his intention to
enter the race only last Sun-
day.

At that time he revealed
that he had been called
upon by party members to
return to frontline politics

NEM acc LNe aot



who they wanted for Chair-
man.
. “T_pledge to them (those

who voted) and the mem-

bers of the PLP that I will

work even harder than.I did .

when I was previously
Chairman of this party to
ensure that» the PLP is
returned to the government
of this country under the
able leadership of Perry.
Gladstone Christie and with
Brave Davis as his deputy,”
Mr Roberts said.

The 65 year-old former
MP and cabinet minister
said that he is first of all
committed, like leader and
deputy leader elect Perry
Christie and Phillip Davis,

to unifying and’strengthen-.

ing the party.
' He added that reorganis-
ing and reenergising the
branches of the party will
also be critical in the com-
ing months and years.
“They are a key compo-
nent of the party and we
have to make sure we have
them in every nook and



Election for PLP top
posts may be contested

By MEGAN REYNOLDS
Tribune Staff Reporter

mreynolds@tribunemedia.net -

YESTERDAY’S elec-
tion to determine who will
hold the top posts in the
PLP may be contested
over suspicions ‘of manipu-
lation of the voting

_ process.

Leadership candidate
Paul Moss was outraged
when he had still not

AC OOS

“We have to ensure that
our people are battle ready
for whenever Hubert Ingra-
ham rings the bell (for the
next election)”, said Mr
Roberts.

Mr Roberts, who formal-

_ly stepped down from front-

line politics in 2007 when
he decided not to run in the
general election, said that
he did not in the interven-
ing two years “sit down and
put (his) head down” but
stayed in touch with the day
to day business of the party
and as such is in a good
position to step in as Chair-
man.

He thanked Ms Hanna
Martin for her contribution.
“T love and I want to thank
her...and now that she is
moving on I hope she will
return to her constituency
that she loves and will give
her full support to the peo-

ple of Englerston.”

On her part, Ms Hanna
Martin said she was “per-
sonally disappointed” about

Selected

received the official regis-
ter of voting delegates as
they marked their ballots
yesterday afternoon.
Without the register, Mr

‘Moss said candidates can-

not be sure whether non-
financial delegates — who
aré not permitted to vote —
are involved. in choosing
future party leaders.

The PLP newcomer said
he was embarrassed by the
irregularity of the voting

the result of the vote that

toppled her, but she
realised that. the. “conven-
tion has spoken” and the
outcome is clear.

“The party has collec-
tively determined the way.
forward and I accept that,
so I am disappointed per-
sonally but not fundamen-
tally,” said Ms Hanna Mar-
tin.

She said she would now
focus:on other areas of her
life, such as her constituen-
cy and parliamentary work.

Winning the posts of
National Vice Chairman
were: Melissa sears, Kevin
Ferguson, Ryan Pinder,
Omar Armbrister and
Randy Rolle.

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process and is prepared to
contest the result, whatev-
er it may be.

Mr Moss was the first to
announce his intention to
fight the incumbent Perry
Christie for the position of
party leader in September,
and his announcement was
followed by that of Bain

and Grants Town MP

Bernard “BJ” Nottage, the

third candidate for the top |

post, on October 15.

Mr Moss and other can-
didates expected to receive
the list of voters at 7pm on
Wednesday, and when he

‘had not received it as the

first day of the 51st PLP
convention drew to a close
just before midnight, he

-wrote to election commit-

tee supervisor Valentine
Grimes to request it.

Delegates

The party leader hope-
ful claims Mr Grimes con-
firmed non-financial dele-
gates were in fact included
in the voting process,
which he said is not only
an error but also a breach
of the party's constitution.

Mr Grimes declined to
comment on the matter
and had not responded to
Mr Moss as the voting got
underway yesterday after-
noon.

Mr Moss said: “It seems
to me whatever the out-
come of this election, once
the votes are counted, it
can only be an exercise of
formality.

“This is not the proper

process and I am embar-_

rassed as a candidate that
we could not get this right.

“T am not the only one
affected by this, but 1 am

prepared to stand against it

in the name of our fathers
who formed the constitu-

_ tion set to eradicate this

kind of injustice in our
election process.”

Mr Moss said he had
written to the election
committee supervisor on
October 1 to ensure the.
register of voters would be
provided to candidates
well in advance and he was
disappointed to have been .
denied both the list and an
explanation yesterday.

Candidate

He added: “They know
any candidate for any elec-
tion must scrutinise the list |
to make sure only eligible
voters can vote.

“Right now I don’t know ©
who’s voting and I was.
supposed to have the list
well in advance.

“They have shown. a bla-
tant disrespect for the
process without regard for
the constitution and when
that happens, it’s absolute

‘ chaos.”

In addition to Mr Moss,
Mr Nottage and Mr
Christie, deputy leader
candidates Philip “Brave”
Davis, MP for Cat Island,
Rum Cay and San Sal-
vador; Senator Jerome
Fitzgerald; and West End
and Bimini MP Obie
Wilchcombe, might be
affected. ,

_ Voting delegates also
made’ their choice for
national chairman of the
party between former MP

_ Bradley Roberts, the par-

ty’s national deputy chair-
man Kendred Dorsett, for-
mer MP Keod Smith and
incumbent national chair-

woman, Englerston MP ,

. Glenys Hanna-Martin. _

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and was doing so with the
primary intention of forg-
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PAGE 4, FRIDAY, OCTOBER 23, 2009

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

WEBSITE
www.tribune242.com — updated daily at 2pm

Insurgents pursue different goals

WASHINGTON — As it devises a new
Afghanistan policy, the Obama administration
confronts a complex geopolitical puzzle: two
embattled governments, in Afghanistan and
Pakistan; numerous militias aligned with over-
lapping Islamist factions; and hidden in the
factions’ midst, the foe that brought the Unit-
ed States to the region eight years ago, al-Qai-
da. But at the core of the tangle are the two
Taliban movements, Afghan and Pakistani.
They share an ideology and a dominant Pash-
tun ethnicity, but they have such different his-
tories, structures and goals that the common
name may be more misleading than illuminat-
ing, some regional specialists say.

“The fact that they have the same name
causes all kinds of confusion,” said Gilles Dor-
ronsoro, a French scholar of South Asia cur-
rently at the Carnegie Endowment for Inter-
national Peace in Washington.

This week, Dorronsoro said, as the Pakistani
army began a major offensive against the Pak-
istani Taliban, many Americans thought incor-
rectly that the assault was against the Afghan
Taliban, the force that is causing Washington to
consider sending more troops to Afghanistan.

At stake is not just semantics. Grasping the
differences between the two Taliban forces,
and their shifting relationships with al-Qaida, is
crucial to understanding the debate under way
in the White House situation room. Though
both groups threaten American interests, the
Afghan Taliban — the word Taliban means
“religious students” — are the primary ene-
my, mounting attacks daily against the 68,000
American troops in Afghanistan. Washington’s
biggest fear is that if the Afghan Taliban over-
run the country, they could invite al-Qaida’s
leaders back from their Pakistani hide-out.
Alex Strick van Linschoten, a Dutch researcher
who lives in Kandahar, in the heart of the
Afghan Taliban’s power base, said that while
leaders of the two Taliban groups might say
that they share common interests, the two
movements are quite separate.

“To be honest, the Taliban commanders and
groups on the ground in Afghanistan couldn’t
care less what’s happening to their Pakistani
brothers across the border,” said Strick van
Linschoten, who has interviewed many cur-
rent and former members of the Afghan Tal-
iban. In fact, the recent attacks of the Pak-
istani Taliban against Pakistan’s government,
military and police, in anticipation of the army’s
current campaign into the Pakistani Taliban’s
base in South Waziristan, may have strained
relations with the Afghan Taliban, said Richard
Barrett, a former British intelligence officer
who tracks al-Qaida and the Taliban for the
United Nations.

The Afghan Taliban have always had a close
relationship with Pakistani intelligence agen-
cies, Barrett said recently. “They don’t like the
way that the Pakistan Taliban has been fighting
the Pakistan government and causing a whole
load of problems there,” he said.

The Afghan Taliban, whose group is by far
the older of the two forces, have been led by

Mullah Muhammad Omar since he founded
the movement in 1994. They seek to regain
the power they held over most of Afghanistan
before being ousted by the American invasion
of 2001. In an interview this week, speaking
on the condition of anonymity, an Afghan Tal-
iban commander expressed sympathy for the
Pakistani Taliban, but said, “There will not be
any support from us.” He said the Afghan Tal-
iban “don’t have any interest in fighting against
other countries.”

“Our aim was, and is, to get the occupation
forces out and not to get into a fight with a
Muslim army,” the commander added.

Before 9/11, the Afghan Taliban hosted
Osama bin Laden and the other leaders of al-
Qaida, but the groups are now separated geo-
graphically, their leaders under pressure from
intensive manhunts. On jihadist Web sites, ana-
lysts have detected recent tensions between
al-Qaida, whose proclaimed goals are global,
and the Afghan Taliban, which have recently
claimed that their interests lie solely in
Afghanistan. Dorronsoro, the French scholar,
said the Afghan Taliban were a “genuine
national movement” incorporating not only a
broad network of fighters, but also a shadow
government-in-waiting in many provinces.

By comparison, he said, the Pakistani Taliban
were a far looser coalition, united mainly by
their enmity toward the Pakistani government.
They emerged formally only in 2007 as a sepa-
rate force led by Baitullah Mehsud under the
name Tehrik-i-Taliban Pakistan, or Students’
Movement of Pakistan.

After Mehsud was killed by an American
missile in August, a fellow tribesman, Hakimul-
lah Mehsud, took over after a period of jock-
eying for power in Pakistan’s tribal areas.

Another complication for regional termi-
nology: Most leaders of the Afghan Taliban
are based in Pakistan, directing their forces
from hide-outs across the border. Omar and his
top deputies are believed to be in or around the
southern Pakistani city of Quetta. Two other
major factions in the Afghan insurgency are
led by veteran Afghan warlords, Jalaluddin
Haqgani and Gulbuddin Hekmatyar, who are
in Pakistan’s tribal areas, where the Pakistan
Taliban is strongest. Al-Qaida’s leaders, includ-
ing bin Laden, are believed to be hiding in the
same tribal areas of Pakistan. While it has been
weakened by American missile strikes, the ter-
rorist network nonetheless is believed to have
provided support for the Pakistani Taliban’s
strikes against the Pakistani government.

For the United States, regional experts say,
the long-term challenge is to devise policies
that peel away as many militants as possible
from both Taliban forces, isolating al-Qaida
and other hard-liners and strengthening the
Pakistani and Afghan governments. But for a
non-Muslim superpower, widely resented in
the region, that is a tall order.

(This article is by Scott Shane
c.2009 New York Times News Service)







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Bishop Simeon
Hall and the
Memorial Wall

EDITOR, The Tribune.

I support the initiatives of
Bishop Simeon Hall as it
relates to the construction
of the memorial wall that is
located on the grounds of
the New Covenant Baptist
Church, Independence
Highway.

The wall’s structure is sig-
nificant and it’s truly a beau-
tiful symbolic tool in
remembrance of our loved
ones whose lives have ended
in horrific and unjust fash-
ions.

Nevertheless some words
on the wall are controver-
sial and oppose the Christ-
ian belief and it belittles our
supreme God because it is
used out of its original con-
text; “our father which art
in heaven is a jealous God.”
This error is despicable and
those who suggested the use
of the Revelation 7:17 as a
header for this innovative
wall must make the neces-
sary corrections to insure
biblical validity.

The writing on the wall
states “...And God shall
wipe away all tears from
their eyes...... Revelation
7:17. Now the full verse of
Revelation 7:17 states. For
the Lamb which is in the
midst of the throne shall
feed them, and shall lead
them unto living fountains
of waters: and God shall
wipe away all tears from
their eyes.” Using of this
biblical scripture with names
of the deceased attached to
it misleads Jesus Christ’s
Gospel; those who con-
structed the wall are saying
they have the power to
judge souls. This scripture is
talking about the congrega-
tion in heaven. How do we
know that all of the individ-
uals on that wall are going to
heaven? Scripture reveals

LETTERS

letters@tribunemedia.net



that Jesus is judge through
God the almighty.

Psalms 50:6, states “and
the heavens shall declare his
righteousness for God is
judge himself.” Proverbs
29:26 states “Many seek the
ruler’s favour; but every
man’s judgment cometh
from the Lord.” Ecclesiastes
12:14 states “For God shall
bring every work into judg-
ment, with every secret
thing, whether it be good,
or whether it be evil.”

In The book of John the
fifth chapter versus 25-31
Jesus states:

25 “Verily, verily, I say
unto you, The hour is com-
ing, and now is, when the
dead shall hear the voice of
the Son of God: and they
that hear shall live.”

26 “For as the Father hath
life in himself; so hath he
given to the Son to have life
in himself;”

27 “And has given him
authority to execute judg-
ment also, because he is the
son of man.

28 “Marvel not at this: for
the hour is coming, in which
all that are in graves shall
hear his voice,

29 “And shall come forth;
they that have done good,
unto the resurrection of life;
and they that have done evil,
unto the resurrection of
damnation.”

30 “I can of mine own self
do nothing: as I hear, I
judge: and my judgment is
just; because I seek not mine
own will, but the will of the
father which has sent me.”

31 “If I bear witness of
myself, my witness is not
true.”

Isupport Mr Simeon Hall
and the construction of the
wall but the scripture of
Revelation 7:17 needs to be
replaced with something less
judgmental. In the book of
Corinthians Paul clearly
opposes the thought of judg-
ing others as well as self
judgment. This is the man
who wrote two thirds of the
New Testament. He states
in 1 Corinthians 4:3-6

(3) “But with me it is a
very small thing that I
should be judged of you, or
of man’s judgment: yeah, I
judge not my own self.”

(4) “For I know nothing
by myself; yet am I not here-
by justified: but he that Jud-
geth me is the Lord.” 5
“Therefore judge nothing
before the time, until the
Lord come....... ”

Now I cannot throw
stones at any man (human
race) because “we all were
born in sin”. Matthew 7, ver-
sus 1-2 is relevant for judg-
ing the way others live their
lives, but I am not judging, I
am giving biblical justifica-
tion that Jesus is the judge of
our souls. Nevertheless
when a man takes on the
role of Jesus Christ, I could
care less even if he carries
the title Bishop, he is out of
order and his decision mak-
ing needs to be realigned to
the word of God.

Bishop, I know that the
idea was harmless but we as
believers mislead people
when we make careless mis-
takes, correct it please!

ELKIN
SUTHERLAND Jr
Nassau,

October 2009.

Marital rape bill: Religious
leaders need to speak up

EDITOR, The Tribune.

One of the most talked
about issues in The
Bahamas today is the rape
bill as many refer to it.

In high schools, colleges,

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on the job, in church board-
rooms and everywhere else
imaginable both men and
women, young and old are
discussing the proposed
amendments to the Sexual
Offences Act.

Some of our religious
leaders have come out in
support of it and some have
said openly that they dis-
agree with it.

There are many times
when government should
seek the advice of the
church and this is one of
them, but in my opinion the
church has been silent on so
many issues that they should
have spoken out on that
many people are wondering
if many of the religious lead-
ers themselves are hiding on
this one.

This particular piece of
legislation needs much con-
sultation and I must applaud
the government on how they
are dealing with it, by going
from place to place includ-
ing our Family Islands to
have discussions and dia-
logue with the masses.

T agree with some parts of
the new amendment and
chose to disagree with some
parts of it.

Let's look at one of the
main points where an issue
arises for me.

Presently, a spouse can-
not report another for rape.
With the new legislation an
incident happens with my
spouse and she conjures in
her mind that she is going
to get back at me for some-
thing I did.

She can wait two years
before the incident is statute
barred, so she can report me
for rape to the police?

I truly believe the police
will do its investigation, but
the interrogation they will
put me through will cause

embarrassment to me and
my integrity that may never
be able to fix, depending on
where they pick me up or
who picks me up.

Never mind what is being
said that proper investiga-
tion will be conducted and
the spouse reporting the
incident will have to prove
that an offence took place.
This bill could lead to more
family violence, because
when the spouse is allowed
to leave the station, he may
head directly for the accuser
and may cause bodily harm
or even murder.

The government, the
Crises Centre and all
involved should think hard
and long on this one.

We call ourselves a “Chris-
tian nation’; do we really
know what we are saying?
As a Christian nation, we
should be able to work out
these situations and live
together in peace and uni-
ty.
The Crises Centre, the
church and the government
need to all sit down around
the round table and proper-
ly trash this bill out, so that
we do not make the major
mistakes or leave any stone
unturned.

Speak up religious lead-
ers, like the Catholics and
the Seventh-Day Adventists,
speak with one voice not
one here and one there,
come together and work this
one out, before we have
more chaos in the land.

CURTIS BRYAN
Nassau,
October, 2009.
PAGE 8, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



LOCAL NEWS



Police officer
is killed
in collision

FROM page one

fallen colleague. We want to thank the family for allowing
him to serve in such a noble way,” Mr Hanna said.

He also extended his thanks to the members of the pub-
lic who helped the officers after the crash.

Police have launched an investigation into the crash, and
are asking for the public’s assistance with information
regarding the white car involved in the accident.

OTHELLO DARVILLE was a married father of two children.



Picewell Forbes

to appear before
senior Justice

FROM page one

attempted extortion charges
against Hollywood actor John
Travolta.

Excited delegates jumped on
their chairs and danced to “Oh
Happy Day!” to celebrate
Bridgewater's alleged acquit-
tal as Mr Forbes exclaimed:
“Pleasant is a free woman
PLPs! Pleasant is a free woman
PLPs! God is good PLPs!
Pleasant is a free woman! God
still reigns PLPs!”

The outburst was broadcast
live on national television and
radio while the jury was still in
deliberations at 9.30pm.

Senior Justice Allen
declared a mistrial less than
two hours later as she said:
“We are very concerned, in the
interest of justice, that it does
not appear that there has been
a communication from the jury
room. Justice must not only be
done, but seen to be done.”

Mr Forbes was allegedly
questioned by police on

Wednesday night, but his attor-
ney Anthony McKinney of
McKinney, Turner and Co,
said he was not aware of any
police involvement.

Mr McKinney visited Senior
Justice Allen at her court yes-
terday morning and agreed to
appear in court with Mr Forbes
at 10am today “with a view to
answering the question as to
why he should not be held in
Contempt of Court,” Mr McK-
inney said.

Mr Forbes’ attorney told
The Tribube how the MP had
not had any communication
with the jury but had heard the
news on the convention floor
before he shouted it out on
stage.

The attorney said: “I expect
you will understand there was
no intention on his part to do
anything that could be con-
strued to be calculated to con-
trovert the proceedings before
the judge.”

Mr McKinney maintains Mr
Forbes’ premature announce-
ment was an innocent act as

Share your news

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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.



he was simply repeating some-
thing he had heard on the con-
vention floor.

He said: “He took the
moment. He was in an accel-
erated mood in the party and
events being what they are... it
wasn't something that he sat
down and contrived.

“Tt produced a result that
nobody wanted of course, and
if it had any intent in it, it
would be egregious, but having
no intent it cannot be egre-
gious.”

He added: “Any number of
circumstances could play into
how the information came into
the public domain, but I know
he did not in any way con-
tribute to the rumour becom-
ing a part of what he eventual-
ly announced.

“He is innocent in that
regard.”

Incumbent party leader Per-
ry Christie refrained from com-
ment when asked about the
matter yesterday.

He said the party maintains
the official statement released
by the PLP on Wednesday.

The statement reads:
“(Wednesday) evening in the
course of an address at our
annual national general con-
vention, it was announced that
former Senator Pleasant
Bridgewater had been acquit-
ted.

“The announcement was
incorrect.

“We give an unqualified
apology.

“This was not intended to
interfere with the administra-
tion of justice.”

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PHILIP DAVIS is mobbed by supporters at the PLP convention.

Davis takes PLP Deputy Leadership

FROM page one

Obie Wilchcombe got 400 and Senator
Jerome Fitzgerald secured 200.

Having participated in what some said
was the most competitive race for deputy
leadership in the party’s history — a race
which some credited for attracting a record
turnout to the convention — Mr Davis said he
was “humbled and overwhelmed” by the
support he had received from stalwart coun-
cillors and delegates.

As the unofficial announcement that Mr
Davis had secured the deputy post was
relayed from the room where the ballots
were counted down to party supporters on
the ground floor of the hotel, the scene
erupted with supporters shouting with
delight and music blaring.

Supporters began chanting that the party
now represented “The Real CDR” - with
(Perry) Christie as leader, Davis as Deputy
and (Bradley) Roberts as Chairman — an
apparent jibe at unsuccessful leadership chal-
lenges and former leader of the Coalition
for Democratic Reform, MP for Bain and
Grants Town Dr Bernard Nottage.

When the MP reached the bottom of the
escalator surrounded by his fans — who have
been the most visible and vocal throughout
the convention, which began on Wednes-
day at the Wyndham Nassau Resort — he
was met and congratulated by PLP leader
Perry Christie and the pair were thronged by
supporters to the point that police had to
step in to ensure the safety of the politicians
in the dense crowd.

Mr Davis, who engaged in an extremely

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professional public relations campaign in
the run up to nominating, told the press that
he felt his victory was a result of “very hard
work” on the part of himself and his team.

Asked what he intends to do next, he
referred to the intention stated in his pub-
lished platform to “unify and strengthen”
the party.

Upstairs, Senator Fitzgerald thanked his
fans for their support, declaring that
although he felt he had successfully run a
“clean” campaign which “focused on the
issues of the country”, the party has spoken
and he would now “accept that and unite
behind the leader and the deputy” towards
seeing the party win the next general elec-
tion.

Nonetheless, he hinted that this would not
be his last attempt to secure a leadership
position in the party.

“Tam humbled by the love and support I
have received from so many people through-
out this country. You have taken me into
your homes, you have fed me, and I have lis-
tened to you very carefully and let me assure
you that this is only the beginning...

“God does everything in his own time.
God does not make a mistake...

“T want to assure you all that I am even
more determined...We will be back again,”
said Mr Fitzgerald, thanking his campaign
team and wider supporters.

Mr Fitzgerald was then joined by Mr
Davis, and the two embraced and congratu-
lated each other.

Absent from the proceedings was Mr
Wilchcombe, who was not spotted during
or after the ballot counting, which lasted for
over three hours.

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TRIBUNE SPORTS

FRIDAY, OCTOBER 23, 2009, PAGE 9



INTERNATIONAL SPORTS

For the best sporting o

www. inbune? 49. COR Sena:

&

Wallace helps
Celtics beat
Shaq and Cavs

By RUSTY MILLER
AP Sports Writer

COLUMBUS, Ohio (AP)
— The Boston Celtics rested
two-thirds of their Big Three.
Everybody else was up to the
task.

Eddie House scored 21
points as the Celtics rolled to
a 96-82 victory over the
Cleveland Cavaliers in a pre-
season game Wednesday
night.

"We got a win. We closed
the preseason out right,” said
House, who hit 8 of 14 shots
from the field including three
3-pointers.

Kevin Garnett and Ray
Allen didn't play for the
Celtics, coach Doc Rivers say-
ing before the game that he
had also asked Paul Pierce to
rest. Pierce, however, started
and played just over 13 min-
utes and scored 11 points.

"IT was just trying to stay
sharp,” Pierce said.

"We've got five, six days
before we play again. I
thought it was good for me to
go out there."

The two teams meet again
in the season opener on Tues-
day in Cleveland.

"IT don't care where it is
when you play the Cavs,”
Pierce said. "They're a team
that we probably are going to
have to go through in the
Eastern Conference. They're
going to be right up there at
the top if they stay healthy.
It'd be great to get a win in
that building.”

Marquis Daniels scored 17
points, Kendrick Perkins 13
and Rasheed Wallace 10 for
the Celtics (6-2). They were
on top 32-22 after a quarter
and never trailed again, lead-
ing by as many as 21 points
in the third quarter.

LeBron James scored 18
points, Shaquille O'Neal 16
and Anderson Varejao had
10 for the Cavaliers (3-4).

The

re ok


RASHEED WALLACE shoots during the first quarter of a preseason game against the New Jersey Nets...
(AP Photo: Bill Kostroun)



on Nets sale,
return of refs

By BRIAN MAHONEY
AP Basketball Writer

NEW YORK (AP) —
David Stern says the sale of
the New Jersey Nets to Rus-
sia’s richest man could be
approved by the end of the
year.

Stern said Thursday that
Mikhail Prokhorov, who has a
deal to buy 80 per cent of the
team, had a positive intro-
duction with NBA owners
during their two-day Board
of Governors meetings.

Prokhorov’s application is
currently under review and
the sale must be approved by
three-fourths of the league’s
owners.

Stern also says he’s hope-
ful the referees will approve a
new contract with the league
that would put them back to
work for the start of the reg-
ular season.

The commissioner also says
owners voted to give the
league office emergency pow-
ers to determine what hap-
pens if teams can’t field the
minimum eight players
because of illness.

Jazz pounce on Blazers, 108-97

By ANNE M PETERSON
AP Sports Writer

PORTLAND, Ore. (AP) — After
a dominating preseason win over the
Portland Trail Blazers, Carlos Booz-
er feels like the Utah Jazz are ready
for the regular season.

"We've got to tighten up some
stuff," he said. "We've got to take
care of that full-court press a little
better at the end of the game, I’m
sure we'll get over it tomorrow. But
for the most part, I think we did a
good job defensively, especially in
the half court. We did a good job of
helping each other."

Deron Williams had 27 points and
Boozer and Ronnie Brewer each
added 16 in Utah's 108-97 presea-
son victory over Portland on Tues-
day night.

The Jazz (4-2), missing Kyle Korv-
er and C.J. Miles because of injuries,
led by as many as 25 points.

"T don't have all our players here,
that's the thing that's always diffi-
cult,” coach Jerry Sloan said about
the impending season. "But we're
going to play anyway, and I've
always believed that if you come and
play hard as a team, you always have
a chance."

Jerryd Bayless had 16 points for
the Blazers (3-4), who overall
seemed both tired and out of sorts.
Brandon Roy had 15 points and
Travis Outlaw added 10, all in the
first quarter.

"We just looked like we hadn't
seen each other today,” Roy said.
"It's almost like a quarterback play-
ing with a receiver he's never played
with before.”

Utah center Mehmet Okur
returned after missing Sunday's vic-
tory over Charlotte with a sore back
and contributed five points.

The Blazers made a surprise move
when Juwan Howard started at for-
ward instead of LaMarcus Aldridge,

—= —

=Brought to yourby:

After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude



CARLOS BOOZER dunks in the first quarter of their preseason game...
(AP Photo: Rick Bowmer)

who had a left shin contusion and
was a last-second scratch. Howard
was acquired by Portland as a free
agent in the offseason.

Portland lost forward Nicolas
Batum early in the game with a hip
injury.

The Blazers were already without
center Greg Oden, who bruised his

thigh on Sunday in Portland's come-
from-behind victory over Denver.

Blazers swingman Rudy Fernan-
dez missed the game because of a
bad back, and coach Nate McMil-
lan said he's unlikely to play in the
preseason finale Thursday against
Phoenix in Vancouver, British
Columbia.



GREG ODEN can be seen during media day. After an inconsistent debut season, Oden
reinvented himself during the summer by shedding 15 pounds, adding a couple of

new moves and changing his attitude...

The Jazz led by as many as 13
points in the first quarter, jumping
on the dazed Blazers. About the
only spark for Portland was Outlaw,
but even that was short-lived.

Utah's dominance continued as
Kyrylo Fesenko's running jumper
extended the lead to 40-26.

The Jazz led 59-40 at halftime, and
Boozer's tip-in stretched the lead to
85-61 at the end of the third quarter.

Both teams pretty much sat their
starters for the final quarter.

The officials drew the ire of fans
—who chanted their displeasure —
with a few questionable calls, but
there was word earlier Tuesday that
the NBA's labor dispute with the
referees’ union may be drawing to a
close.

A person familiar with the nego-
tiations told The Associated Press
that the league has made a new pro-

(AP Photo: Don Ryan)

posal. The person, who requested
anonymity because the negotiations
are ongoing, said it's "highly likely”
the referees will be back for the
opening of the season.

The Jazz, who went 48-34 last sea-
son before falling to the eventual
NBA champion Los Angeles Lakers
in the first round of the playoffs, vis-
it the Sacramento Kings for the pre-
season finale before opening at Den-
ver on Oct. 28.

Portland won 54 games last season
but fell to the Rockets in the first
round of the playoffs. After wrap-
ping up the season against the Suns,
the Blazers open at home against
Houston next Tuesday.

Portland tried to acquire Utah for-
ward Paul Millsap in the offseason,
signing the restricted free agent to an
offer sheet. But the Jazz matched
the offer.



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM


PAGE 10, FRIDAY, OCTOBER 23, 2009

TRIBUNE SPORTS



SPORTS












































































ea
STAT

Commonwealth American
Football League (C.A.F.L.}
2009-2010 Schedule

Week 1

Saturday, 17th October —
Kingdom Warriors vs. Jets
Sunday, 18th October —
Pros vs. Stingrays
*R.B.D.F. Bye Week*

Week 2

Saturday, 24th October —
R.B.D.F. vs. Kingdom Warriors
Sunday, 25th October —

Jets vs. Stingrays

*Pros Bye Week”

Week 3

Saturday, 31st October —
Jets vs. Pros

Sunday, 1st November —
Stingrays vs. R.B.D.F.
*Kingdom Warriors Bye
Week*

Week 4

Saturday, 7th November —
Pros vs. R.B.D.F.

Sunday, 8th November —
Kingdom Warriors vs.
Stingrays

*Jets Bye Week”

Week 5

Saturday, 14th November —
Pros vs. Kingdom Warriors
Sunday, 15th November —
Jets vs. R.B.D.F.
*Stingrays Bye Week*

Week 6

Saturday, 21st November —
Jets vs. Kingdom Warriors
Sunday, 22nd —

Stingrays vs. Pros
*R.B.D.F. Bye Week*

Week 7

Saturday, 28th November —
Stingrays vs. Jets

Sunday, 29th November —
Kingdom Warriors vs. R.B.D.F.
*Pros Bye Week”

Week 8

Saturday, 5th December —
R.B.D.F. vs. Stingrays
Sunday, 6th December —
Pros vs. Jets

*Kingdom Warriors Bye
Week*

Week 9

Saturday, 12th December —
Stingrays vs.

Kingdom Warriors

Sunday, 13th December —
R.B.D.F. vs. Pros

*Jets Bye Week”

Week 10

Saturday, 9th January —
R.B.D.F. vs. Jets

Sunday, 10th January —
Kingdom Warriors vs. Pros
*Stingrays Bye Week*

Playoff Games

Saturday, 23rd January — Top
Seed #1 vs. Seed #4

Sunday, 24th January — 2nd
Seed #2 vs. Seed #3

C.A.F.L. CHAMPIONSHIP
GAME — New Providence
Saturday, 6th February 2010
Game time for regular season
games is 1:30pm

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RENALDO'S RAMBLINGS

By RENALDO DORSETT

Sports Reporter
renaldodorsett@yahoo.com



Be afraid of Tom
Brady, be very afraid

by RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

Last Week: 7-7

Week 7

New England Patriots

at Tampa Bay Bucs

We all learned valuable lessons this weekend. I
learned that because of a few select websites I may nev-
er go shopping for clothes in a store again, never to rely
on Santana Moss, and that Murphy’s Law is a complete
guarantee in Fantasy Football. The Bahamas learned
never to elect a DJ to the House of Assembly and
have him rise up the ranks of a political party...bad
things happen (You don’t see DJ Khaled elected to
Congress, Howard Stern will never be a Senator, Don
Imus can’t even go to New Jersey but our DJ’s — politi-
cians. Of course this makes sense in the Bahamas).
Despite it all, easily the most important lesson this
week — every man, woman and child learned not to
wane in their faith of Thomas Edward Brady. I am
now afraid...as should you be. We knew Brady and
Belichick love to make statements and flex their mus-
cles, but 59-0 was just ungodly. I can’t even do that on
Madden, on any level. The schedule gods follow up
with one of the few teams that could actually be worse
than the Titans. This is like if Ryan Reynolds divorced
Scarlet Johansson and his agent got him a date the
next weekend with Megan Fox. Do you know what
Ryan Reynolds would do with an opportunity like
that? We’re about to find out.

PATS over BUCS

Atlanta Falcons

at Dallas Cowboys

In one of the blackest cities in America, on a team
made up predominantly of black players, if the 25-
year-old second year quarterback, an average white guy
from Exton, Pennsylvannia got the nickname “Matty
Ice” and it sticks, and no one questions it, or even
does a double take when they hear it...then he has
done all he needs to do to earn their trust and mine. I
believe in you Matt Ryan.

FALCONS over COWBOYS

New York Jets

at Oakland Raiders

The greatest thing about sports is it gives us licence
to hate...emphatically...and without apology. Herein
lies the reason for my delight over the three game los-
ing streak which took the Jets from everyone’s sleeper
to a team in turmoil. This is great. It’s like waking up
every Sunday morning and watching the Pistons beat
the Lakers in game 5 five of the 2004 Finals (Kobe
cried, great television). ’'m not quite certain why I
hate them, but I do. It’s the Hatfield-McCoy feud for
the 21st century...we don’t question, we just participate.
How long do we give Jamarcus Russell before he’s
considered the next Ryan Leaf? The clock has to have
started by now right?

JETS over RAIDERS

San Diego Chargers

at Kansas City Chiefs

Three years ago this would have been touted as the
game of the week. Smashmouth football at its finest.
Two of the league’s top rushers going at it to determine
who gets to sit on the throne as the most elite back in
all of pro football. Now it'll be like watching Statler and
Waldorf (the two ornery disagreeable old men from the
Muppets Show) complain about everything from nag-
ging injuries, to young backs cutting into their carries,
to the weather...but if LDT calls Darren Sproles a
whipper snapper I’m changing the channel.

CHARGERS over CHIEFS

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New England Patriots quarterback Tom Brady runs up
the field during an NFL football game against the
Tennessee Titans in Foxborough, Mass. After playing
inconsistently in the Patriots first five games, Brady
threw six touchdown passes in a team-record 619
yard attack in a 59-0 win over the Tennessee Titans.

Philadelphia Eagles

at Washington Redskins

From the time you start playing sports, coaches and
parents try their best to drill it into your head...one loss
is Just like any other loss. Coaches and parents lie.
After the Eagles lost to the Raiders and the Redskins
lost to the Chiefs, it will be apparent that one loss is not
like the others. There are some that are just too con-
fusing, too ugly, too baffling to get over. Both these
teams suffered those kinds of losses this last weekend,
season’s done. Off topic...with McNabb struggling,
Campbell on the ropes, and JaMarcus Russell clearly
the next Ryan Leaf, are black quarterbacks pretty
much done? Vince Young still rides the bench on an 0-
6 team, Michael Vick may never start again, both guys
in Tampa Bay are horrendous so just leaves...David
Garrard. David Garrard, the new premier black quar-
terback!

EAGLES over REDSKINS

New Orleans Saints

at Miami Dolphins

..And years later, later Drew Brees is still bitter.
This week he cited the Dolphins and specifically Nick
Saban's lack of faith in him saying they did not believe
in his shoulder. We all know how the story goes, Mia-
mi gets Daunte Culpepper and the Saints got Brees
who has been a pillar in the Saints community and
one of the best at his position on the field, while the
Dolphins fought through some of the darkest days in
league history.

They meet Sunday with the Saints wanting to send
another message to the league that they can go on the
road and dominate and as an up and coming team
they've passed every test thus far.

The Dolphins still fresh off defeating what now looks

a lle a otha

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to be 2 mediocre teams and maybe armed with their
best QB since Marino retired want to send their own
message they're not just the Wildcat but this is a real
team and now with a real offense. This may not be the
game of the week but everyone has something to prove.
Let's hope it's unseasonably warm in Miami on Sunday
and the cold front is long gone
DOLPHINS over SAINTS

Arizona Cardinals

at New York Giants

Is Arizona quietly having the most underwhelming
season of any defending conference champion ever?
Probably not, but they have to be considered the most
difficult to notice 3-2 team in the league right now.
All that and they have face a team that just came off a
crushing loss that knocked them down a peg on the
NFC totempole.

GIANTS over CARDINALS

Minnesota Vikings

at Pittsburgh Steelers

The Vikings are approaching the “team of destiny
label,” with two last second wins under their belts just
six weeks into the season. That being said, does Adri-
an Peterson really need destiny on his side? He already
has

VIKINGS over STEELERS

Buffalo Bills

at Carolina Panthers

Remember when Terell Owens was relevant?
Remember when the Panthers threw to Steve Smith?
Remember when Jake Delhomme was a Pro-Bowl
quarterback? Remember when Buffalo almost beat
the Patriots in week one and everyone scrambled to
claim them as the number one “sleeper”?

PANTHERS over BILLS

Green Bay Packers

at Cleveland Browns

When the best player on your team is your kick
returner, you trade away your two best receivers and
you wear Brown pants, the probability of a successful
season is eerily slim.

PACKERS over BROWNS

Indianapolis Colts

at St. Louis

The good thing about the Rush Limbaugh story is
that it gave the Rams at least minimal relevance. With
that gone, what are we supposed to discuss about the
Rams? Donnie Avery’s emergence as the worst num-
ber one receiver in the league? How long will Stephen
Jackson keep his dreadlocks? Should they move back
to Los Angeles?

COLTS over RAMS

San Francisco 49ers

at Houston Texans

Michael Crabtree is finally playing! Effect it'll have
on coverage of the game 10-10...effect he’ll have on the
game 0-10.

TEXANS over 49ERS

Chicago Bears

at Cincinnati Bengals

Everyone loves the revenge game. In this case
though, the revenge should come from the Bears
defence. They picked Cedric Benson fourth, they
believed in him so much that they released Thomas
Jones...and he bombed. Two years later the Bears gave
up on Benson and he latches onto the Bengals only to
finally show flashes of what they thought he could
become. My only regret is that Brian Urlacher won’t be
there to hit him in a real game situation.

BEARS over BENGALS

Packers’ Green
says family strife
affected his focus

GREEN BAY, Wis. (AP) — Green Bay Packers running
back Ahman Green says injuries weren’t the only thing that
kept him from living up to expectations in Houston.

Green, who signed a deal to return to Green Bay on Wednes-
day after being cut by the Texans in February, says emotional
turmoil within his family affected his ability to focus on football
the past two seasons.

Green says his relationship with his daughters was “on the
rocks,” and he was hit hard by the death of his father.

But Green now says his relationship with daughters Ahmani,
12, and Myahni, 7, has greatly improved and he is completely
focused after rejoining the Packers.

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THE TRIBUNE PAGE 11

S]

For the best sporting action .. .

Wallace helps
Celtics beat
Shaq and

Cavaliers...
See page 9

ts



r

FRIDAY,OCTOBER 23, 2009



www.fribune 24 2.c

wl B - = : oe ——— ; a
THESE PICTURES (above and below) are from the start of racing on
winds prevented competition for a day.

America’s David Loring
strengthens top place

fter a day

long delay

due to strong

winds, com-
petitors took to the water
once again in Montagu Bay
to resume action in the 2009
Sunfish World Champi-
onships.

David Loring of the United
States strengthened his first
place advantage with a pro-
ductive outing which included
asecond and fourth place fin-
ish.

Loring overcame a 20%
penalty in race seven, which
dropped him to a fifteenth
place finish, however still
leads the field with 21.6 net
points.

The remainder of the top
five remained virtually
unchanged following day four
of competition.

Marx Chirinos of
Venezuela remains in second
place with 23 net points.

Chirnos suffered a similar
20% penalty in race six for a
15th place finish, however,
rebounded to finish third in
race seven and sixth in race
eight.

American teammates Paul-
Jon Patin and David Mendel-
blatt are in third and fourth
positions respectively.

Patin who began the regat-
ta with the first race win, fin-
ished fourth, 14th and fifth
yesterday for 26 net points,
while Mendelblatt delivered
the most noteworthy perfor-
mance of the day.

After a 20th place finish
due to a penalization, he
returned to win the final two
contests of the day to move

Sports

VOLLEYBALL

into fourth place with 29 net
points.

Peter Stanton of the U.S
Virgin Islands rounds out the
top five with 32 net points.

Stanton took first place in
the opening race of the morn-
ing and followed up with fifth
and second place finishes
thereafter.

Donald Martinborough
remains the top placed
Bahamian competitor in the
field in 16th position with 129
net points.

Martinborough enjoyed his
best finish of the event thus
far with an 11th place finish in
race eight.

Charles Kelly dropped four
sports to 24th position with a
net score of 173 points.

Fernando De Cardenas
improved five positions to
move into 28th.

He recorded the best finish
of any Bahamian sailor in the
field with a ninth place effort
in race seven.

Christopher Sands fell to
34th with 219 net points,
Gavin McKinney is 36th with
224, Andrew Wilhoyte is 37th
with 225, Jeffrey Gale is 39th
with 227, Peter-Bruce Was-
sitsch is 41st with 253, James
Lowe 42nd (269), George
Damianos 45th (304), Ted
O’Brien 47th (311), Donico
Brown 49th (315), Michael
Holowesko 50th (319),
Dwayne Wallas 58th (369),
Lori Lowe 64th (419) and BJ
Burrows 65th (434).

Today marks the final day
of competition in the Sunfish
World Championships with
the final awards ceremony
tomorrow night at the Nas-
sau Yacht Club.

During Wednesday evening’s volleyball matches over at the
D W Davis gymnasium, the C.O.B. Lady Caribs would come
out to win the first set over the Johnson Lady Truckers 25-23,
but Anastasia Sands-Moultrie took charge of the next three sets
leading the Lady Truckers 25-15, 25-10 and 25-10 to win the
match.

Sands-Moultrie finished with a game high 16 points for the
winning Lady Truckers. Kenisha Thompson led the Lady
Caribs with 10 points.

In men's action the National fence Intruders, led behind
Glen Rolle's 13 points, defeated the Champions Club in 4 sets,
25-20, 25-17, 17-25 and 25-22. Muller petit would lead all scor-
ers in a losing effort with 18 points.

Games continue today over at the D W Davis gymnasium.

BASEBALL

The 2009/2010 Youth Baseball Season got under way on
Long Island — Saturday October 17, 2009.

The President & his Executive Team would like to con-
gratulate the (Long Island Baseball League Executive Team on
a successful OPENING and for successfully rejuvenating the
baseball program on Long Island.

President Dan Weightman & Team has done a tremendous
job and by the Island wide support today, they are off to a
GREAT start.

In attendance was BBF President Craig Kemp who gave
the Opening Address and Secretary General Theodore Sweet-
ing. JBLN Coach Pastor Ken Adderley(Former Professional
Baseball Player) took a break from his visiting Pastoral duties
to take in the two opening games.




day one at Montagu Bay. Sailors took to waters yesterday after heavy

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PAGE 12, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



LOCAL NEWS



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A TRIUMPHANT Perry Christie at last night's PLP convention.

Perry Christie
stays PLP leader

FROM page one

“Firstly I think anyone
who stood for election had
to prepare themselves for
some kind of loss and even
though there’ll be bitter dis-
appointments on the part of
those who lost, it is for me
to one, congratulate all of
those who won and also
those who lost.

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“Because we came together
to contest offices as members
of the Progressive Liberal
Party and we knew in doing
so that some would win and
some would lose. And we
know that the purpose of a
political organisation is not to
have wonderful fights within
but to really prepare our-
selves for the major fight and
that is showing that we are a
viable and good alternative
to the FNM and that people
will have a real choice to
make in the next election and
when they have that choice
they will choose the PLP,” he
said.

Graciously accepting his
defeat, Dr Nottage said that
he and his team presented the
PLP with the reasons why
they thought there ought to
be change in the party.

Judgment

“The PLP have made their
judgment and they have
decided that they want to con-
tinue with what we have been
doing and I respect that. I
came here now because I
want to see the leader and
congratulate him and his team
but more importantly I want
to reassure the people who
are members of the PLP that
Iam a PLP, I’m not going
anywhere; I’m going to con-
tinue to work and support the
PLP,” Dr Nottage said.

Noting that there has been
allegations of improprieties
with the election process con-
ducted yesterday, Dr Nottage
said that his team would
review these issues and see to
the extent it will be “con-
structive” for them to make
any formal protests or carry
the matter “further”.

“But for now I want those
who have won to bask in their
victory and enjoy it,” he said.

Dr Nottage also opted not
to respond to the question as
to whether or not he will once

again challenge for the lead-
ership of the party.

“The only thing I can
assure you is that I am going
nowhere.”

The third challenger, Mr
Moss also expressed his con-
cern about the alleged “inap-
propriate” conduct and alle-
gations of vote buying and
intimidation that have
emerged. Despite these
reports, Mr Moss still con-
gratulated Mr Christie on his
victory.

“This campaign has been
one to demonstrate that we
believe we can do better and
we still believe we can do bet-
ter. When you look at the
youth in our campaign and
the fact that we have been
able to bring excitement to
this place, even inspire people
to believe that they can do
certain things, we know that
our campaign has been a suc-
cess,” he said.

Mr Moss did however cau-
tion the party that the PLP
currently has at its conven-
tion, stalwart councillors who
outnumber elected delegates
three to one, who are 65 and
over and not reflective of the
country’s growing demo-
graphic.

“Tf this party is to be suc-
cessful it ought to recognise
that and change it because
what we saw here today is an
outpouring of senior citizens
who came in to vote and it is
not reflective of the general
make up of those voters who
are elected delegates,” he
said.

Mr Christie said that the
party will be holding another
convention before the next
general election, and if he is
contested again, he will again
defend himself. But he
remains confident that even
if such a contest were to again
arise he will be leading the
party into the next general
election.

“To those who have dis-
agreed with me, they’ve had



an opportunity to express
their disagreement and the
people at the convention have
now provided the ultimate
answer - that they support me
and let’s get on with the busi-
ness of being a viable strong,
dynamic, political organisa-
tion,” he said.

Statement

In a statement released late
last night the FNM claimed
the re-election of Perry
Christie as Leader of the Pro-
gressive Liberal Party is a vic-
tory for the old guard of the
party and a blow to any seri-
ous reform by those who rep-
resent the worst days of the
Pindling era and the more
recent scandalous past of the
party, among them a number
of Mr Christie’s cabinet
appointees.

"The old guard further
entrenched itself and turned
its back on reform and renew-
al by also electing Bradley
Roberts as Chairman, anoth-
er symbol of some of the
excesses of the party and one
who is regarded as a political
character assassin by many,”
the governing party said.

The FNM said that not only
is any reform of the PLP high-
ly unlikely, “Mr. Christie and
his supporters have made the
party even more undemocra-
tic by undercutting the power
of the branches in favour of
Stalwart Councillors who now
make up some two-thirds of
the voting power of the party
at convention”.

"The future of the once-
mighty PLP is bleak indeed
since Mr. Christie knows that
most of his parliamentary col-
leagues have no confidence
in him and he has threatened
that there will be ‘conse-
quences’ for them. Some may
find their continued presence
in the PLP very uncomfort-
able if not untenable," the
party said.

FNM hits back at
PLP over economy

FROM page one

omy. They are at it again in their convention,”

the statement said.

“The extent of their desperation is clear,

unemployed Bahamians and to help prepare

for the future.

“The centrepiece of this initiative was the
launching for the first time in Bahamian history
of an unemployment benefit scheme. When
it was announced, the PLP was so taken aback

Our 3rd Weight Loss Competitian considering the indisputable fact that the eco-
nomic crisis enveloping the Bahamas and much
of the world is due not to any local causes but
to external forces beyond anyone’s control.
“The FNM government has buffered the
effects of the crisis by accelerating public works
including road building, the massive port pro-
ject, the new airport terminal project, clean-up
and beautification campaigns and the creation
of more recreation spaces for the Bahamian
people, especially seaside vistas and spaces.”
The statement went on to note that the gov-
ernment also launched a multi-faceted nation-
al social programme to alleviate the pain of

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM

that they only mutter baseless criticisms such as
suggesting that it might not be legal,” the state-
ment noted.

It listed other elements of the “FNM social
response to the crisis” as: temporary job pro-
grammes, a national training programme and
electricity assistance for thousands of distressed
Bahamians.

“All this was made possible because of the
solid economic and fiscal performance of the
FNM in its first two terms in office after clean-
ing up the mess left by the PLP government,”
the governing party said.

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THE TRIBUNE a

USI



FAMILY GUARDIAN

INSURANCE COMPANY LIMITED

FRIDAY, OCTOBER 23,

2009



Hotels anticipate
‘flat to slightly
off Christmas

Sasol

By NEIL HARTNELL
Tribune Business Editor

THE 2009
Christmas hol-
iday season
will be “flat
compared to
last year or
slightly
behind” for
the Bahamian
hotel industry
generally, the
Bahamas SANDS
Hotel Associ-
ation’s (BHA) president said
yesterday, indicating that
many resorts were sacrificing
margins and room rates to
maintain occupancy levels.

Robert Sands, who is also
Baha Mar’s senior vice-presi-
dent for governmental and
public affairs, told Tribune
Business that “bookings are
still soft and challenging”,
with the booking window
“not more than three weeks”
before tourists actually
arrived in the Bahamas - mak-
ing it very difficult for the
hotel industry to predict for-
ward-looking trends.

Pointing out that it was the
New Year period, rather than
the Christmas season, which
provided resorts with the bulk
of their festive business - espe-
cially those properties with
casinos - Mr Sands said: “We
will probably not see much
difference from what
occurred last year, and in
some instances properties will
have slightly less, and in oth-
ers slightly more.

“We see the Christmas sea-
son being flat to last year or
slightly behind. I would say
business for Christmas this
year will be relatively flat to
last year. The difficulty is not
so much occupancy, but it has
a lot to do with the yield, the
rates.”

Going into 2010, Mr Sands
said the BHA was planning
to advocate on a number of

SEE page 3B



SECTION B ¢ business@tribunemedia.net



Further rating downgrade fear

By NEIL HARTNELL
Tribune Business Editor

he Bahamas could suffer
an immediate sovereign
credit rating downgrade
“into the Baa category” if it
immediately fails to reduce its nation-
al debt-to-GDP ratio once the reces-
sion is over, a Wall Street agency
warned yesterday, as it questioned
whether the Government’s ‘no new
or increased taxes’ approach was “sus-

tainable over the long term”.

* Moody’s warns Bahamas must reduce debt-to-GDP ratio immediately ‘as

Although the Bahamas’ worsening

fiscal ratios would “not yet” result in a
downgrade to its sovereign debt cred-
itworthiness, Moody’s also warned
that this nation needed to raise long-
term growth rates by “reversing” a
weakening tourism performance,
while the 2009-2010 fiscal deficit was

per cent.

likely to be higher than the forecast 3.9

“Despite the relatively high level of
economic development, long-term
concerns about the economy persist,”
Moody’s said of the Bahamas. “In the
last 10 years, median growth for the

Bahamas was 1.7 per cent, well below
the median growth rate of 4 per cent
for A-rated countries........

“Raising long-term growth rates
requires a reversal of the weak per-
formance of the tourist sector and
strengthening the regulation of the

soon as crisis is over’, or otherwise sovereign could fall into ‘Baa category’

* Wall Street agency questions sustainability of government's ‘no new or increased
taxes’ position, warning narrow base could hamper debt reduction efforts

* Projects ‘higher shortfall’ in fiscal deficit than 3.9% projection for 2009-2010

* Warns that ‘long-term concerns about the economy
persist’, and growth rates needed to be raised

financial sector. Tourist arrivals have
been falling since 2005, predating the
current crisis. In 2008, total arrivals
were the lowest in a decade, and data
for the first half of 2010 will be worse.”

SEE page 4B

City Markets refinancing deal closed

By NEIL HARTNELL

Tribune Business Editor

CITY Markets’ majority
shareholder has closed the
transaction to complete the
supermarket chain’s $5 mil-
lion refinancing, Tribune
Business can reveal, with
Exchange Control approval
having finally been received
late last week.

Multiple sources familiar

The information contained is from a third
party and The Tribune can not be held
responsible for errors and/or omission
from the daily report.



Lease extension
granted to close
$258m purchase

By NEIL HARTNELL
Tribune Business Editor

THE Government has
granted the 30-year lease
extension sought by the Nor-
wegian-headquartered buyer
of a Grand Bahama-based oil
storage terminal, allowing that
$258.249 million transaction
to close yesterday.

Joy Jibrilu, director of
investments in the Office of
the Prime Minister, confirmed
that the Government had
agreed to Statoil Hydro’s
request for a 30-year exten-
sion of the lease on the South
Riding Point terminal. With
10 years on the existing lease
still to run, Statoil now has
security of tenure at South
Riding Point until 2049.

“There were 10 years
remaining on the lease with
World Point Terminals,” Ms
Jibrilu confirmed to Tribune
Business, “and then a 30-year
extension. Given their capi-
tal and their investment, a 30-
year extension is what they
requested.”

Statoil had previously told
Tribune Business it wanted a
lengthy lease to ensure it gen-
erated the appropriate return
on its investment.

Ms Jibrilu also confirmed
yesterday that Statoil’s pro-
posal, which was submitted to
the Government to facilitate
approval of its purchase,
called for a $100 million to
$150 million investment in
South Riding Point to
upgrade the existing facilities,

* Statoil gets 30-year South
Riding Point extension
through to 2049, as its
closes oil storage
terminal buy

* Norwegian firm planning
to invest $100m-$150m
to upgrade facilities

expand the tank storage
capacity and address any envi-
ronmental concerns.

“That continues to be the
case,” the Bahamas Invest-
ment Authority’s head con-
firmed in regard to Statoil’s
proposed $100 million to $150
million investment at South
Riding Point.

“That is what they advised
the Government in their pro-
posal, for they will be using
it for the transhipment of
crude oil from Brazil and
Latin America into North
America.

“They’re going to do reme-
dial work and an environ-
mental clean-up of what’s
there, so that’s a part of their
work, to upgrade and increase
capacity,” she said. “That
seems to be the main focus.
They [Statoil] seem to be a
wonderful corporate partner.
They have a very good track
record.”

Canadian-based World
Point Terminals confirmed
that its wholly-owned sub-
sidiary, Old South Riding

SEE page 6B



Trinidadian conglomerate said to be in majority control at supermarket chain’s majority shareholder

with developments confirmed
to this newspaper yesterday
that investors in BSL Hold-
ings, the private equity con-
sortium that holds a 78 per
cent stake in City Markets’
holding company, Bahamas
Supermarkets, had complet-
ed the transaction to refi-
nance both itself and the
operating company after final
approvals were received from
the Central Bank of the
Bahamas.

Sunil Chatrani, Bahamas
Supermarkets’ head, declined
to comment when contacted
by Tribune Business yester-
day, but this newspaper now
understands that BSL Hold-
ings is finally in position to
provide the long-awaited
financial assistance to pub-
licly-traded Bahamas Super-
markets.

Apart from releasing the
additional equity capital injec-
tions they had previously
committed to, Tribune Busi-
ness also understands that
BSL Holdings’ investors com-
pleted negotiations on their
existing loan and credit facil-
ities with Royal Bank of
Canada.

Royal Bank had lent the
group $24 million in 2006 to
help part-finance the acquisi-
tion of the 78 per cent
Bahamas Supermarkets stake
from Winn-Dixie.

Meanwhile, Tribune Busi-
ness also understands that as
part of the refinancing,
Trinidadian conglomerate
Neal & Massey is now in
effective majority control of
BSL Holdings - something
this newspaper had previous-
ly anticipated, due to the need
for exchange control approval
from the Central Bank.

Neal & Massey will now be
able to combine its previous
acquisition of Barbados Ship-
ping & Trading, the company
that acted as City Markets’
managing partner in the
immediate aftermath of the
Winn-Dixie buyout, with con-
trol at BSL Holdings to have
a much greater say in the 11-
strong supermarket chain’s
affairs.

It is likely that the Trinida-
dian conglomerate will take
an even greater interest in
Bahamas Supermarkets’ per-
formance now, treating it akin
to a subsidiary. Indeed, Neal

& Massey’s move into a con-
trolling position at BSL Hold-
ings and, by extension,
Bahamas Supermarkets, will
come as no surprise to most
observers, many having
believed the original transac-
tion was structured to pro-
duce such an outcome.

However, no information
has been forthcoming as to
whether Bahamas Supermar-
kets’ Board of Directors has
signed off on the company’s
long awaited 2008 audit -
some 16 months after that
period closed - and when the
annual general meeting
(AGM) for that year will be
held.

City Markets, its operating
parent and BSL Holdings
have come in for heavy criti-
cism from minority share-
holders who collectively hold
22 per cent of Bahamas
Supermarkets, investor value
having been massively eroded
as a result of the $13.429 mil-
lion net loss projected by
management accounts for
2008 - something that plunged
the company into negative
equity.

More than 15 months after

FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES

call us today at 396-4076

FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET | www.lamguardbahames.com

the 2008 year-end, Bahamas
Supermarkets’ external audi-
tor, KPMG, has yet to sign
off on the audited accounts, a
timeline well outside the 120-
day filing period stipulated
for public companies. Many
have argued that this saga has
undermined the integrity of
the Bahamian capital mar-
kets.

The 2008 audit sign-off had
previously been contingent on
City Markets’ receipt of
financing from BSL Holdings,
which would have avoided the
accounts being qualified as a
"going concern’.

But in a previous interview,
Mr Chatrani said: “"We're
rushing to have the audit
complete with or without the
financing. It's so old, we want
to get it behind us, with or
without the opinion, so we
can move on to the 2009
audit. We want to get it com-
pleted.

"We had the final [audit]
draft today for review. We
have the opinion in hand, and
should be approving that
some time next week. The

SEE page 2B

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PAGE 2B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



INTERNATIONAL BUSINESS



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Airlines tell
a tale of two

camps

profit

versus loss

By HARRY R WEBER
AP Airlines Writer

ATLANTA (AP) — The
recession has put the major
US airlines into two camps
— the profitable ones that
have low costs and a domes-
tic focus, and the money-
losing ones with higher
expenses and big networks
that are under global pres-
sure.

That stark contrast played
out again Thursday as Alas-
ka Air Group Inc. and Jet-
Blue Airways Corp. said
they were in the black in the
third quarter and Delta Air
Lines Inc. and US Airways
Group Inc. remained in the
red.

Passengers can expect
more fare sales, but ticket
prices will creep up at times
and will be more expensive
during the holidays. Those
annoying add-on fees won’t
be going away either.

The airlines know passen-

compared to a loss of $50
million a year ago. Its rev-
enue, if its Northwest Air-
lines subsidiary was includ-
ed in the 2008 figure, fell 21
per cent on a combined
basis year-over-year. Delta
ended the quarter with $5.8
billion in unrestricted liq-
uidity, including $5.5 billion
in cash, cash equivalents
and short-term investments
and $300 million available in
a revolving credit line.

Side

On the flip side, improve-
ments it has made in on-
time performance and being
insulated from the slump in
international travel helped
Alaska Air post a profit for
the third quarter. The Seat-
tle operator of Alaska Air-
lines and Horizon Air
recorded an $87.6 million
third-quarter profit, com-
pared to a net loss of $86.5
million a year ago. Revenue

BlackBerry Bald? gers aren’t eager to open fell nine per cent to $967.4
Berry Bold, Register = x eb nl their wallets. Customers million from $1.07 billion a
and become eligible to He nl cee oly continue to be under pres- —_—year ago.
ee Hine be BA. sure — budgetary pressure JetBlue, based in New
win! The averrang ru she and pressure on the eco- York, earned $15 million in
oa mee nomic front,” Delta Presi- the third quarter, compared
ae dent Ed Bastian said during —_ with a loss of $8 million a
ae a conference call with ana- year ago.
= lysts and reporters. Revenue fell 5.3 per cent
aie The July-September quar- to $854 million.
1. Kab by sl ter includes part of the tra- The big carriers aren’t in
2 ditionally busy summer sea- _a hurry to grow with the

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Money at Work

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 22 OCTOBER 2009
BISX ALL SHARE INDEX: CLOSE 1,489.00 | CHG -3.49 | %CHG -0.23 | YTD -223.36 | YTD % -13.04

FINDEX: CLOSE 789.77 | YTD -5.40% | 2008 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

5 oaaaida



FG CAPITAL MARKETS

BROKERAGE & ADVISORY SERVICES

cleo LL

CINTA LL

son, but major airlines were
hit hard this year by weak
overall demand for air trav-
el, especially for business
and international travel.

Capacity has been shed,
jobs have been cut and oth-
er operational changes have
been made, including efforts
to preserve cash.

Volume and revenue
from corporate customers
remain down for several air-
lines, but the margins have
been improving in recent
months.

Travelers

economy in the early stages
of a recovery. They want to
be careful not to do more
flying than passengers are
willing to pay for. By keep-
ing capacity in check, they
believe they will be able to
charge more for tickets.

Delta plans to cut system
capacity three per cent next
year. At least one low-cost
carrier that posted a profit
this week — AirTran Air-
ways — actually plans to
add capacity next year, in
the range of two per cent to
four per cent.

JetBlue CEO Dave Barg-
er said his airline is still a

52wk-Low Securit y Previous Close Today's Close Change Daily Vol. EPS $ Div $ P/E y
1.03 AML Foods Limited 1.17 1.17 0.00 0.127 9.2 Leisure travelers are growth company.
9.90 Bahamas Property Fund 10.75 10.75 0.00 0.992 10.8 1 1 6 2
5.90 Bank of Bahamas 5.90 5.90 0.00 0.244 24.2 starting to take to the air We have a considerable
0.63 Benchmark 0.63 0.63 0.00 -0.877 N/M again, but they are paying number of (aircraft) in our
244 Fidelity Bank 237 237 0.00 0.058 434 smaller average fares, hit- order book, and I think
9.93 Cable Bahamas 9.98 9.93 0.00 1.406 7.41 ting the airlines’ bottom we’re looking forward to
2.72. Colina Holdings 2.72 2.72 0.00 0.249 10.9 ; ;
5.26 Commonwealth Bank (S1) 5.83 5.74 -0.09 0.419 13.7 line. deploying them, you know,
1.27. Consolidated Water BDRs 3.01 3.04 0.03 0.111 27.4 : : ‘ :
1.32 Doctor's Hospital 2.05 2.25 0.20 0.625 3.6 US Airways, based TH playing some offense in the
6.28 Famguard 6.50 6.50 0.00 0.420 15.5 Tempe, Ariz., blamed its not too distance future,” he
8.80 Finco 9.30 9.30 0.00 0.322 28.9 : :
10.00 FirstCaribbean Bank 10.00 10.00 0.00 0.631 15.8 revenue drop on the combi- said.
4.11 Focol (S) 414 444 0.00 0.332 12.4 nation of less flying But don’t expect checked
1.00 Focol Class B Preference 1.00 1.00 0.00 0.000 N/M “é : : =_—
027. Freeport Concrete 027 027 0.00 0.035 oo aggressive industrywide bag fees and other fees to go
5.49 ICD Utilities 5.59 5.59 0.00 0.407 13.7 1 4
9.95 J. S. Johnson 9.95 9.95 0.00 0.952 10.5 fare sales, and the reduction away. JetBlue said Thursday
10.00 Premier Real Estate 10.00 10.00 0.00 0.156 64.1 in business demand. it won’t rule out charging
Els LISTED DEBT SECURITIES - (Bonds trade on a Percentage Peis) b ases) US Airways lost $80 mil- for a first checked bag.
52wk-Low Security Symbol Last Sale Change Daily Vol. Interest Maturity : : *
7000.00 Fidelity Bank Note 17 (Senles A) > FEB17 700.00 0.00 7% 19 October 2017 lion in the quarter as rev- In Thursday trading,
1000.00 Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75% 19 October 2022 1
1000.00 Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7% 30 May 2013 enue fell 16.6 per cent from Alaska Air shares fell 84
1000.00 Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75% 29 May 2015 the same period last year, to cents, or three per cent, to
Fidelity Over-The-Counter Securities i
52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol. EPS $ Div $ P/E $2.72 billion. It ended the close at $26.76, JetBlue
7.92 Bahamas Supermarkets 7.92 8.42 14.00 “2.246 0.000 N/M quarter with $1.5 billion in shares lost 13 cents, or 2.3
6.00 Caribbean Crossings (Pref) 2.00 6.25 4.00 0.000 0.480 N/M 4
0.20 RND Holdings 0.35 0.40 0.55 0.001 0.000 256.6 unrestricted cash. per cent, to $5.61, Delta

29.00 ABDAB
0.40 RND Holdings

52wk-Low
1.3344
2.8952
1.4217
3.0941
12.3870
100.0000
99.4177
1.0000
9.0775
1.0000
1.0000
1.0000

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Fidelity Bahamas G & | Fund
Fidelity Prime Income Fund
CFAL Global Bond Fund
CFAL Global Equity Fund
CFAL High Grade Bond Fund
Fidelity International Investment Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

Colina Over-The-Counter Securities

30.13
0.45

31.59
0.55

29.00
0.55

BISX Listed Mutual Funds

NAV
1.4038
2.8300
1.4954
3.0941

13.1751
103.0956
99.4177
1.0000
10.5884
1.0757
1.0305 -0.24
1.0709 3.24

YTD%
3.72
-3.75
4.30
-8.61
4.42
3.10
3.12
0.00
5.88
3.86

Last 12 Months

Div $
5.20
-6.75
5.18
-13.59
5.86
2.52
2.76
0.00
5.88
5.30
0.22
4.54

4.540
0.002

0.000
0.000

Yield %

9.03
261.90

NAV Date
31-Aug-09
30-Sep-09
16-Oct-09
31-Aug-09
30-Sep-09
30-Sep-09
30-Sep-09
31-Dec-07
30-Sep-09
30-Sep-09
30-Sep-09
30-Sep-09

Delta, based in Atlanta,
lost twice as much in the
quarter — $161 million,

shares lost one cent at $8.32
and US Airways shares also
dropped a penny to $3.86.

City Markets refinancing

Board will approve it, and we will call the annual general

meeting (AGM) shortly."

MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

Mr Chatrani said Bahamas Supermarkets was "aiming for the
end of the month" of October - a date now unlikely - for the
AGM date, pointing out that shareholders had to be given 21
days’ notice.

Mr Chatrani also confirmed that City Markets had received
$1 million of the $5 million in new equity capital to be injected
by its 78 per cent majority shareholder, the remainder awaiting
that exchange control approval.

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV § - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: COLINA 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525





TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 3B





Dil slins helow
$31 a harrel,
retreating
from ‘09 high

By ALEX KENNEDY
Associated Press Writer

SINGAPORE (AP) — Oil
prices slipped below $81 a
barrel Thursday, retreating
from a 2009 high, as a wobbly
US dollar steadied in Asian
trading.

Benchmark crude for
December delivery fell 90
cents to $80.48 a barrel at late
afternoon Singapore time in
electronic trading on the New
York Mercantile Exchange.

The contract rose $2.25 to
settle at $81.37 on Wednes-
day as the dollar fell to its
lowest since August 2008.
Crude is traded using dollars,
so it gets cheaper when the
US currency falls.

The euro fell to $1.4959 on
Thursday from 1.4999 the pre-
vious day and the dollar rose
to 91.46 yen from 91.00.

Traders also eyed a smaller
than expected rise in US
crude supply data from the
Energy Information Admin-
istration on Wednesday.
Inventories rose 1.3 million
barrels while analysts had
expected a rise of 2.2 million
barrels, according to a survey
by Platts, the energy infor-
mation arm of McGraw-Hill
Cos.

The two-week surge in the
oil price has raised the specter
that a jump in energy costs
would fuel inflation and lead
policymakers to ease stimu-
lus spending and raise interest
rates, undermining a nascent
global economic recovery.

“Tt’s definitely a potential
threat,” said David Cohen,
director of Asian economic
forecasting for consultancy
Action Economics. “Every-
body gets a little nervous
when the oil price starts
bouncing higher.”

Energy Secretary Steven
Chu said earlier this week that
crude prices at $80 per barrel
are worrisome.

Stock markets, which have
soared since March, could see
gains reversed if oil and other
commodities continue to rally,
Cohen said.

“The recovery is not so
fragile that it can’t tolerate
another dollar or two in the
oil price,” Cohen said. “But
when people start getting
worried about inflation, that
could be a drag on markets.”

In other Nymex trading,
heating oil fell 1.49 cents to
$2.09 a gallon. Gasoline for
November delivery dropped
1.65 cents to $2.04 a gallon.
Natural gas for November
delivery rose 2.6 cents to $5.13
per 1,000 cubic feet.

In London, Brent crude for
December delivery fell 81
cents to $78.88 on the ICE
Futures exchange.

TNH

For the stories
Ue
ae A
eS

Recession is ‘a God send@’

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas Chamber of
Commerce’s president yes-
terday said the recession and
economic crisis was “a God
send” from the perspective of
shaking Bahamians business-
es out of their complacency,
and forcing them to focus on
efficiency, productivity and
the long-term sustainability
of their business models.

Acknowledging that some
would think he was “off my
rocker”, Khaalis Rolle told
Tribune Business that both
the private and public sectors
needed to use the downturn
to better-plan their long-term
futures, and ensure that they
were better prepared to with-
stand future downturns when-
ever they arose.

“T would say, and some
people may think I’m off my
rocker, that this crisis is a God
Send,” Mr Rolle told Tribune
Business. “We’ve enjoyed a
robust economy for so long
that many of us got comfort-

able. We operated at the sta-
tus quo level, and there was
no real need to work hard to
develop efficiency and sus-
tainable models.

“This is now forcing us to
be more competitive and look
at everything. During these
times, we really need to use
these opportunities to plan
better.

“Unfortunately, we haven’t
seen a lot of major structural
reforms, because we’ve been
in the initial part of the
response period when we’ve
been trying to stem the bleed-
ing more than anything else,
from both the private and
public sector standpoint.”

Mr Rolle added: “The
response was to stimulate the
economy, restart it, and the
Government did so with the
capital works projects. The
next phase is to develop a
response mechanism, a move
to refocus that allows us to be
in a better position to with-
stand any downturn over the
horizon.”

The Chamber chief said he

Hotels anticipate
‘flat to slightly off
Christmas season

issues on behalf of its members, “paramount, number one”
among them being to “work on cost reduction”.

Following that was the need to “put in place regulations on
gaming to help increase the sales focus in the marketplace”,
workforce training and development, and working on new ini-
tiatives and with outside partners to increase tourist flows to
Bahamian resort properties.

The latter, the BHA president added, would generate “con-
sistent revenue streams” to ensure “all properties become
profitable”.

Mr Sands told Tribune Business that the BHA was still wait-
ing to hear from Vincent Vanderpool-Wallace, minister of
tourism and aviation, on what form reform to the Bahamas’
gaming laws and regulations would actually take.

“Tt’s a bit more than just reform,” Mr Sands said of what
Bahamian resorts and casinos wanted to see. “It’s improving
regulations to make us much more competitive as a country.

“Tt’s very important for two reasons. The proliferation of
gaming close to the Bahamas, Florida in particular, and having
a major competitive edge over the Bahamas makes it very dif-
ficult for us, in this very depressed environment, to be com-
petitive.

“From a gaming regulatory perspective, if we stand on a
level playing field, entities here will have a better opportunity
to compete for gaming customers in the world marketplace.”

Focusing on Florida, Mr Sands added: “They have advantages
in a significant number of areas - the types of game offered, the
ability to be flexible, the ability to move quickly.”

Proposals to address these issues and a number of other
areas had been included in the BHA’s submissions to the Gov-
ernment on the gaming issue.




fs

> Ga

t-te

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KHAALIS ROLLE

believed the Bahamas was
faring “better than most
economies, but is still taking a
beating”. He added that dis-
cussions at an Inter-Ameri-
can Development Bank
(IDB) seminar in Barbados
last week had focused on the
sustainability of business
models going forward, and
the need to mitigate against
future recessions.

“T think we’re doing pretty
well, relatively speaking,” Mr
Rolle told Tribune Business.
“Tt is what it is, and unfortu-

2. _

nately businesses are not
making the types of revenues
they were making two years
ago, or even one year ago.

“But a lot of businesses
have found a way to respond
to it, whether it’s looking at
the cost base and reducing
costs in response to a reduc-
tion in revenues.

“There is one company I
spoke to, and some of the
measures they are employing
are so drastic as to reduce
expenditure on personal
items, and staff bringing in
their own cups. They’ve gone
to lower cost items.”

The Chamber president
added: “One of the things the
economic crisis has forced us
to do is to rethink how we do
business. Rethink our entire
approach and operate at a
level that’s optimal in terms of
revenues generated and
expenditure.”

Mr Rolle warned, though,
that it was likely to be “any-
where from 18 to 24 months”
before the Bahamian econo-
my experienced a sustained

We Take

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lamps and 16” alloy wheels.

turnaround. While the econ-
omy may have already hit
bottom, “we’re now in a state
of what to do next”.

The rising unemployment
rate was not necessarily a true
indicator of where the econo-
my was, Mr Rolle said, point-
ing out that as part of doing
“more with less”, some busi-
nesses that had experienced
efficiency/productivity gains
after releasing staff may not
hire those positions back.

This, he added, could result
in relatively high unemploy-
ment persisting past a recov-
ery “until we create new busi-
nesses and new opportuni-
ties”.

“Unemployment is just a
lagging indicator of where we
are,” the Chamber president
said, arguing that “we’re at
the end of the technical reces-
sion” thanks to the Obama
administration’s stimulus
package.

He added that foreign
direct investment was unlike-
ly to return to pre-2006 levels
for another five to 10 years.

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Bahamian Artists such as Livingston Pratt, Jonathon Bethel, Melissa Maura, Kimberly Roberts, Roland Rose, Malcolm Rae, Antonius Roberts and Nicole Angelica

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM


PAGE 4B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE





Further rating downgrade fear

FROM page 1B

Effectively, the Moody’s
report said that while the rat-
ing agency was placing great
faith in the Bahamas’ tradi-
tion of macroeconomic and
fiscal prudence to turn around
the worsening fiscal position,
rapid - and decisive - action
was required to ‘put the house

ae
NAD

Nassau Airport
Gevelopment Company

in order’ and turn the nation
around once the recession was
over.

“The Government has
announced its intention of
reducing debt as soon as the
crisis is over, and given the
Bahamas’ strong institutional
history we believe that is like-
ly. Failure to do so would like-
ly result in a negative rating

PRICE INQUIRY

P-2170 Design /Build Fabric Canopies

Nassau Aiport Development Company (MAD) has a requirement

for fhe deegn, manufactuinng and wevialaliqn of fabnic canopess for

Silage 1 and Stage J of the Lynden Piadiing International Apo

Fapansion Proyect, with Stage 1 being awarded at this time

The Scope of Work includes:

» Dean of fabne canopees (oundahiotes, sctine, behing) in

actiedaece wih the Bahamas Building Code fer parking lol and

arede passenger walks

Prepadaiion of deen shop draw and bbicaion of canopy

structure; and

Site irefailaboe of loundabons, sleunture, elecincal aed canopy,

in coordinsbon wih other conkeciors on ale snd ai ftin schedule

Tmikesiones specified

Poe Inquiry Packages wil be avalable for pack up afler
1200 pron Wednesday, September 30th, 2009

Contact: Traci Brishy
Contract & Procurement Manager
LPL Ex

pansion Project
Pie a] PO BG | Fear fee) 2?
FO Bio AP 7 Nagaeu Balers

Emad, ea bredrpgirers bs



rake

SAD

N

Nassau Airport

Development Company

action,” Moody’s country
analysis, a copy of which has
been obtained by Tribune
Business, warned.

“The 2009-2010 Budget
forecasts a 3.9 per cent of
GDP deficit, but a higher
shortfall is likely given the
severity of the crisis. Govern-
ment borrowing is pushing
debt higher, and by 2010 it
will be closer to 50 per cent of
GDP, among the highest in
the A [rating] category.”

Some 8 per cent of that 50,
Moody’s pointed out, was
held by the National Insur-
ance Board (NIB), the
nation’s social security pro-
gramme. This, and the high
percentage of national debt
held by Bahamas-based
investors such as banks and
public sector institutions, gave
the Government some fiscal
flexibility.

But the Wall Street rating
agency then warned that the
Bahamas’ relatively narrow
tax base, and low per annum
tax revenue intake as a per-
centage of GDP, would
impact this nation’s ability to

finance the rapid repayment
of debt once the current
recession ended.

With government revenues
as a percentage of GDP
among the lowest in the
Caribbean, Moody’s warned:
“This presents a challenge
when, as now, debt levels rise,
since they must be paid from
a relatively smaller base than
in other nations.

Revenues

“The Government expects
that revenues will increase as
a percentage of GDP as the
economy recovers and they
improve tax collection, but
has so far refused any increas-
es in tax rates or the intro-
duction of new taxes.

“While the Government
has ample short and medium-
term flexibility, it remains an
open question if this approach
is sustainable over the long-
term, particularly given the
increase in recent years in
overall expenditure. Total
expenditures averaged 21.6
per cent of GDP in the last

NOTICE

DINVER INVESTMENT LTD.
In Voluntary Liquidation

Notice is hereby given that in accordance with

Section

138(4) of the International

Business

Companies Act. 2000, DINVER INVESTMENT

LTD. is in dissolution as of October 13, 2009.

International Liquidator Services Inc. situated at 35A
Regent Street, P.O. Box 1777, Belize City, Belize is
the Liquidator.

LIQUIDATOR

Nassau Airport Development Company Limited (NAD) is seeking Proponents (individuals,
consortium or joint venture that must include an experienced retail operator) to finance,
design, develop, operate and manage Bahamian Specialty Retail stores in the new US.
Departures Terminal currently under construction at the Lynden Pindling International
Airport. These stores will be world class in design and appearance with a distinctive ‘sense of
place’ and will offer uniquely 100% Bahamian manufactured/produced products at

competitive prices,

Four inline stores have been identified in the new terminal for these uniquely Bahamian
products; the categories are as follows:

Jewelry, Arts and Crafts

Soaps, Candles, Oils, Ete,
Straw and related articles
Other Bahamian made products

There will be additional Requests for Proposals issued over the next few months covering

additional inline stores for general retail plus kiosks and carts.

MINIMUM QUALIFICATIONS:
i. Proponents must be Bahamian and incorporated in The Bahamas.
ii, Proponents must have operated a retail facility within the last three (3) years.

NAD'S GOALS AND OBJECTIVES ARE TO:
(a) achieve a high standard of excellence and customer service:
(b) offer a mix of concepts that will help to enhance the image of the Nassau Airport asa

world class airport;

(c) offer retail choices to passengers at reasonable prices;

(d) offer a mix of local, regional and national and international brands

(2) develop and design retail facilities that complement the qualities of the new terminal
while recognizing the distinctive spirit, character and'sense of place’ of The Bahamas; and

(f) optimize revenue to NAD.



four years, compared to 18.5
per cent in the previous four.”

The Government’s 2009-
2010 Budgetary financing
needs, estimated at about 6.5
per cent of GDP to cover the
anticipated fiscal deficit plus
amortisations, were not
viewed as a problem by
Moody’s given the likely
appetite of the NIB, Bahami-
an banks and public corpora-
tions for government debt.
The Bahamas Telecommuni-
cations Company (BTC) pri-
vatisation was also expected
to help in this regard.

“At an estimated 13 per
cent in 2009, the ratio of
external debt to GDP is
among the lowest in its broad
peer group and well-below
the median of 41 per cent for
A-rated countries,” Moody’s
report added.

And while persistent fiscal
deficits would push the
Bahamas’ national debt-to-
GDP ratio close to 50 per
cent, higher than many simi-
larly rated countries, Moody’s
said the time was “not yet”
for a further downgrade of
this nation’s sovereign credit
rating.

“While we are concerned
with the increase in the coun-
try’s debt burden, its history
of sensible fiscal management
and strong policy consensus
support the Government’s
view that debt numbers will
start trending down once the
worst of the crisis is over.

“But if the increase in debt
numbers remains unchecked,
it will place strong downwards
pressure on the current rat-
ings, and could lead to a
change in outlook and ulti-
mate downgrade into the Baa
category.”

Nevertheless, Moody’s said
the Bahamas was “well-posi-
tioned to manage the crisis
without permanently weak-
ening its creditworthiness”,
even though the Internation-
al Monetary Fund (IMF) had
projected this nation could
suffer “three years of nega-
tive growth” from 2008-2010.

Yet the persistent reliance

on the US remained a key
weakness, and GDP per capi-
ta was forecast to decline
from $22,560 in 2008 to
$21,926 in 2009 and $21,871
in 2010.

Turning to monetary mat-
ters, Moody’s said the
exchange rate peg to the US
dollar had largely helped to
contain inflation. And the
Bahamas’ structural trade and
current account deficits fluc-
tuated between 5 per cent and
20 per cent of GDP, depend-
ing on the flow of tourism-
related imports and foreign
direct investment-financed
construction materials.

“This year, the current
account deficit will be around
10 per cent of GDP, below
the 13 per cent and 18 per
cent posted in 2008 and 2007,
respectively,” Moody’s said.
“On nominal terms, the cur-
rent account deficit will shrink
to an estimated $0.8 billion
from $1.2 billion in 2008, and
$1.3 billion in 2007.

Tourism

“The decline in tourism
receipts will be more than
compensated by a decline in
imports growth, a reflection
of lower domestic demand
growth and lower oil imports.
Last year, oil imports amount-
ed to close to 30 per cent of
GDP, more than three times
the 2004 levels.”

Moody’s added that foreign
direct investment in the
Bahamas traditionally
accounted for 9 per cent of
GDP and 86 per cent of the
current account deficit over
the past five years.

“This year, foreign direct
investment in nominal terms
and as a share of GDP is like-
ly to decline as several impor-
tant projects have been tem-
porarily suspended,” the Wall
Street credit rating agency
added.

“We expect foreign direct
investment will continue to
finance about two-thirds of
the current account deficit
going forward.”

REQUEST FOR

PROPOSAL

BAHAMIAN SPECIALTY RETAIL SHOPS
NEW U.S, DEPARTURES TERMINAL AT LPIA

Qualified and interested parties may pick-up the Request for Proposal package at NAD's
offices at the reception desk on the second floor Domestic/International Terminal at Lynden

Pindling International Airport between the hours of 9:00am and 4:00pm, from October
13th to October 26th, 2009. A mandatory pre-proposal briefing for those who have picked
up packages will be held at the New Providence Community Centre, Blake Road on
Wednesday, October 28th at 10:00am.



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 5B



World markets drop amid China policy doubts

By JEREMIAH MARQUEZ
AP Business Writer

HONG KONG (AP) —
Global stock markets
dropped Thursday as weak-
ness on Wall Street and
uncertainty about Chinese
stimulus measures that have
pumped up the country’s
economy led investors to take
profits from a recent rally.

A number of markets in
Asia and Europe were lower
by one per cent or more,
while oil retreated from a
2009 high and the dollar
recovered modestly against
the yen and the euro.

Investors were spooked by
losses on Wall Street late
Wednesday after a leading
analyst downgraded major
US bank Wells Fargo & Co,
touching off more fears about
the financial sector. That com-
bined with growing anxiety
about the pace of the mar-
ket’s rise to drag the Dow
Jones index below the 10,000

level.

Meanwhile, news China’s
economy expanded at a heady
8.9 per cent in the third quar-
ter, in line with market expec-
tations, gave investors few
reasons to wade deeper into
the markets.

While the figures were seen
as mostly encouraging, some
analysts said Chinese exports
and private investment con-
tinued to lag, suggesting
growth was still largely the
result of enormous govern-
ment stimulus spending.

“The key message is that
China’s economy is recover-
ing and is on track to grow at
least eight per cent this year,
but it’s still imbalanced,” said
Kelvin Lau, regional econo-
mist at Standard Chartered
Bank in Hong Kong. “We’re
still hoping the rest of the
economy will recover as well.
Simply relying on public
investment can’t last forev-
er.”

With inflation tame and the

country’s export sector still
hurting, China was unlikely
to raise interest rates or do
anything else to significantly
tighten its monetary policies
this year, he said.

As trading started in
Europe, Britain’s benchmark
was down 1.6 per cent, Ger-
many’s DAX was off 1.9 per
cent and France’s CAC-40
lost 1.7 per cent.

Europe followed Asia,
where Japan’s Nikkei 225
stock average fell 66.22, or 0.6
per cent, to 10,267.17, and
Hong Kong’s Hang Seng
dropped 107.59 points, or 0.5
per cent, to 22,210.52.

In China, the Shanghai
index lost 19.18 points, or 0.6
per cent, to 3,051.41. South
Korea’s benchmark fell 1.4
per cent, Australia’s index
was off 0.5 per cent and Indi-
a’s market shed 1.2 per cent.

Analysts in China pointed
to budding concerns about the
direction of Beijing’s stimu-
lus programme for some of

“People”, Processes and Technology

Driving Business Value”

Our client has requested BHC Consulting to seek applicants for the position of:

IT ADMINISTRATOR

You will be responsible for the health and development of the Corporate Information Systems
and Network. Only candidates with the following qualifications should apply:

Degree in Computer Science or Engineering
Microsoft Certified Systems Engineer

Minimum of 1 year of experience in a similar position
Excellent verbal and written communication skills

Reporting to the Financial Controller, this is the ideal position for an individual who can work
independently with minimal supervision. You will be responsible for:

Supervision of the existing corporate information network

Ensuring that IT utilizes best practices and standards
Development of new IT initiatives that add value to the business

Remuneration package includes generous employee benefits.

Only candidates that meet the above criteria should respond via email (subject: IT Administrator)
and attach a “one page resume” and salary requirements to:

Brian Hassan, Principal Consultant

bhec@coralwave.com

Deadline: 21st October, 2009

FREE SEMINAR

You are

invited to attend a Free Financial

Seminar, organized by the Education Committee of
the Public Workers’ Co-operative Credit Union
Limited, to be held on Friday, October 23rd, 2009 at
the Office of the Bahamas Co-operative League
Limited Gustwestof Wendy’s, Oakes Field), beginning

at 6:30 p.m.

Come
and

See how you can stretch your

DOLLARS SSS

Featured Speakers:

Mrs. Stephanie Missick-Jones
(Credit Specialist-Bahamas Co-operative League Ltd.)

and Mr. Philip Greenslade

(Treasurer-Public Workers’ Co-operative Credit Union Ltd.)

Bring a friend-and get a prize for bringing the most guests.
Refreshments will be served



the losses.

Chinese Premier Wen
Jiabao said in a Cabinet meet-
ing Wednesday that policy
will focus on balancing eco-
nomic growth while manag-
ing inflation — raising wor-
ries over the potential impact
on lavish government spend-
ing.

“Today’s data fell within
expectations, but the Pre-
mier’s remark yesterday on
inflation control raised wor-
ries that the government
might tone down its stimulus
policies,” said Hu Xiaoyue,
an analyst for Shanghai Secu-
rities.

Markets have been on a
tear in recent weeks, with
benchmarks in the US and
Asia hitting new highs for the
year, as the ailing dollar and
massive liquidity encourage
investors to channel money
into stocks.

But some analysts have
been warning that investors
are increasingly complacent
about the risks facing the mar-
ket. One closely watched
measure of investor fears
about the market, the Chica-
go Board Options Exchange’s
Volatility Index, reached its
lowest level in a year on
Wednesday before jumping
higher.

The VIX is now around 22,
down nearly 45 per cent this
year. Its historical average is
18-20, and readings below 25
are often seen as a sign
investors are relaxed or com-
placent. It hit a record 89.5 a
year ago as the financial crisis
deepened.

In New York overnight, the
Dow Jones industrial average
fell 92.12, or 0.9 per cent, to
9,949.36, just above its low of
the day. It was the biggest
point and percent drop since

October 1.

The broader Standard &
Poor’s 500 index fell 9.66, or
0.9 per cent, to 1,081.40, after
reaching 1,101.36, its highest
level in the past year. The
Nasdaq composite index fell
12.74, or 0.6 per cent, to
2,150.73.

US futures augured a mod-
estly lower open on Wall
Street. Dow futures were
down 30 points, or 0.3 per
cent, at 9,871.

Oil prices slipped to near
$80 a barrel Thursday as a
wobbly US dollar steadied.
Benchmark crude for Decem-
ber delivery fell $1.13 to
$80.24 a barrel. The contract
jumped $2.25 overnight as the
dollar fell to its lowest since
August 2008.

In currencies, the dollar was
stronger at 91.28 yen from
91.00 yen. The euro fell to
$1.4972 from $1.4999.



Client Relationship Manager



SG Private Banking (Bahamas) Ltd., part of the
Société Générale Group, is a private bank

providing a comprehensive wealth

management service.

SG Private Banking is currently looking to

recruit a Client Relationship Manager. Your

of investment, trust and banking products
and fluent knowledge of Spanish. Some

knowledge of Portuguese would be an asset,

and proficient in the use of Computers. The

incumbent will be required to travel ona

regions.

primary role will be to introduce, maintain

and grow profitable client relationships in
Latin America for SG Private Banking

(Bahamas) Ltd and ensure adherence to legal,

regulatory and industry standards

You should ideally hold the Chartered

Institute of Bankers Diploma or equivalent

regular basis to designated marketing

The position offers an attractive salary and
benefits package including group insurances,

pension and bonus schemes.

Applications should be submitted to the

professional qualifications, and have at least

5 to 8 years’ international private banking/

marketing/sales experience.

You should have excellent client relationship

and selling skills, an in-depth knowledge

mss
Private Banking

SG Private Banking (Bahamas) Ltd. is

following address, to arrive on or before 28
October 2009.

Head of Human Resources

SG Private Banking (Bahamas) Ltd

PO Box N7785

Nassau

Bahamas

licensed under the Bank & Trust Companies Regulations Act

Julius Bar

Julius Baer Group, the leading dedicated Wealth Management is seeking
candidates for the position of:

SENIOR RELATIONSHIP MANAGER
CORE RESPONSIBILITIES:

Acquire new clients through personal network (within defined objectives
Acquire new client finders or EAM
Provide financial information to clients as requested

Create / Maintain a privileged relationship with new or existing clients
providing a service of excellence
Develop Julius Baer Bank & Trust as booking centre through Julius
Baer worldwide network

REQUIRED SKILLS:

Excellent French verbal and written communication skill

PC literate with strong Excel, Word, PowerPoint (ability to learn new
applications quickly)
Strong understanding of Swiss Private Banking industry creed and
regulatory framework

A commitment to service excellence

EXPERIENCE:

Minimum 10 years experience in Private Banking, Asset Management

or related field

EDUCATION:

A Bachelor’s degree with concentration in Economic, Business
Administration or equivalent.
The Securities Course Series 7 or equivalent.

FOREIGN LANGUAGES:

The ability to speak a third language (Italian, German, Spanish or
Portuguese) would be a strong asset.

We offer a very competitive compensation and benefits package, a stimulating
work environment and the opportunity to make a significant contribution to our
business while expanding your career.

Interested candidates should forward a copy of their resume by October 31“,
2009 to the attention of:

BY HAND:
Personal & Confidential
Human Resources

Ocean Centre, Montague Foreshore

P.O. Box N - 4890
Nassau, Bahamas

BY MAIL:

Personal & Confidential
Human Resources

P.O. Box N-4890

Nassau, Bahamas



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6B, FRIDAY, OCTOBER 23, 2009

THE TRIBUNE



BUSINESS ee
Lease extension granted to close $258m purchase

FROM page 1B

Point Holdings, had complet-
ed the deal with Statoil’s own
entity, Statoil South Riding
Point LLC.

Under its terms, Statoil
acquired the shares of Old
South Riding Point Holdings’
three Bahamian subsidiaries,
South Riding Point
(Bahamas), South Riding
Point Terminal and South
Riding Point Tugs, and its 50
per cent interest in Freepoint



Tug & Towing Services. The
latter operates a fleet of tug-
boats in Freeport.

Statoil and World Point
Terminals had originally
hoped to close the deal for
South Riding Point, which
includes 6.75 million barrels
of liquid bulk storage capaci-
ty in 10 tanks, on October 1,
2009, but this deadline was
missed in the wait for gov-
ernment approval.

Apart from National Eco-
nomic Council (NEC) and

Investments Board approval,
both of which fell under the
purview of the Cabinet or a
Cabinet subcommittee, Sta-
toil also had to win permis-
sion for the lease transfer and
a 30-year extension to its
tenure from South Riding
Point's landlord, the Bahamas
Agricultural and Industrial
Corporation (BAIC).

Existing

The existing lease on the
763-acre South Riding Point
site, which includes 155 acres

of land, the rest being the sea
bed and offshore jetty, expires

in 2019.

Statoil, which has leased
space at the oil storage, blend-
ing and transshipment facility
for the past 16 years, sees
South Riding Point's acquisi-
tion as a logical extension to
its long-term growth strategy.

South Riding Point, which
employs 55 Bahamians and
features 10 storage tanks and
two berths, is well-positioned
for the increasing advances
Statoil wants to make into the
US market, and the increasing
volume of oil being shipped
from Brazil. Statoil's lease at
the site was due to end short-
ly, and it seemingly believes

that ownership/control at
South Riding Point would
better aid its cause.

Executive

At the time, Jon A Jacob-
sen, Statoil's executive vice-
president for manufacturing
and marketing, said of the
planned purchase: "It will
strengthen StatoilHydro's
marketing and trading posi-
tion in North America by
securing the full terminal
capacity. StatoilHydro's
objective is to upgrade the
terminal to allow for blend-

ing of all types of crude oils,
including heavy oils."

The Statoil deal is the sec-
ond acquisition of a Grand
Bahama-based oil storage ter-
minal within two years, the
first being the purchase of the
BORCO terminal by First
Reserve and Vopak for
around $900 million in 2008.

The South Riding Point
deal has no connection to Sta-
toil’'s entrance into the
Bahamas in May 2009, when
it announced its oil explo-
ration joint venture with BPC
Ltd in the southwestern
Bahamas.

NT
NAD

Nassau Airport
Development Company

C-292 Security Systems

Nassau Apt Dawekonen! Company (MAD) is eased bo
announce the release of RFP C282 Security Syaverre for Sage
Zand 3of the Lynden Finding Intemational Airport Exparseon with
Siage | awarded al istime

The scope of work includes:

4 Anosss Conind System - to control acness jo anges walhin the
amport in aullonged personnel

«Vides Surveillance Syston -— ool reno poms of meres
wenn and anund (he aaport terminal budding: and

4) Iterom Gommuniesdon System - to faciitate baw vay wolcn
SOTITUTCHI en Dataran eaulbnis ramoie sahara nal points

The proponent shell be duly responsable Gor fe desegn and
Impementaton of the Scope of Workdesonbed nthe AFP and shall
mabe: manimum usc of commendal off tha shalf products and
fechnalng igs

The C292 REP Documents will be avadable for peck up aller
1:00pm, Thursday October ist, 2008. Abide meeting
wil be held af fii am, Friday October Sth, 2006
Pleas conlact Tha Bisby in regester al he AAD Pinger oicn

Contact TRAC BRISBY

Contracts aed Procurement Wlarager

Ph: (2d) POD 1088 Fave Cy PTT
PQ) Rex AP S09), Micke Peale ies
Email baa briebyiinas bs

Employment Opportunity

A well established business within New
Providence is in search of an Inventory
Control Manager. Inquires must be
able to organize and set up an easy
manageable inventory control system
that includes monitoring and organizing
Building & Hardware and Plumbing
& Electrical Supplies. The successful
candidate must posses the following
skills

Be able to:

¢ Track and follow-up on all shipment
from Suppliers.

* Receive and validate all shipped
items.

* Organize a comprehensive store
delivery system.

* Organize and/or Improve items
location on the sales floor area.

« Maintain a proper data base so
that management and staff have an
accurate record of all In-stock items

« Manage inventory control staff.

The successful applicant must have
a minimum of 3-5 years inventory
and stock taking experience. He/she
must be familiar with the Microsoft
word & excel software. Warehouse
management and Stock taking training
with certificates would be desired.

Salary would be based on qualifications
and experience.

Interested applicants are asked to
apply through the following address:

The President

Re: Inventory Control Manager
P.O.Box N-7143

Nassau, Bahamas

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

PLATINUM STAR GROUP LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act,
No. 45 of 2000, the Dissolution of PLATINUM STAR
GROUP LTD. has been completed, a Certificate of Dis-
solution has been issued and the Company has therefore
been struck off the Register. The date of completion of
the dissolution was the 13th day of October, 2009.

Alrena Moxey
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

PLEAMMER INVESTMENTS
HOLDINGS LTD.

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act, No.
45 of 2000, the Dissolution of PLEAMMER INVEST-
MENTS HOLDINGS LTD. has been completed, a Cer-
tificate of Dissolution has been issued and the Company
has therefore been struck off the Register. The date of
completion of the dissolution was the 13th day of Octo-
ber, 2009.

Alrena Moxey
Liquidator

Legal Notice

NOTICE
ACCRINGTON HOLDINGS LTD.

—— a

#

Notice is hereby given that in accordance with Section 138
(8) of the International Business Companies Act 2000, the
dissolution of ACCRINGTON HOLDINGS LTD. has
been completed; a Certificate of Dissolution has been issued

and the Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
NIPSON GREEN INVESTMENTS LTD.

SS

£

Notice is hereby given that in accordance with Sec-
tion 138 (8) of the International Business Companies
Act 2000, the dissolution of NIPSON GREEN
INVESTMENTS LTD.

Certificate of Dissolution has been issued and the

has been completed; a

Company has therefore been struck off the Register.

ARGOSA CORP. INC.
(Liquidator)

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

Legal Notice

NOTICE

AVE MARIA HOLDINGS LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 21st day of October 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

TERRA FIRMA VENTURES LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 21st day of October 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

NOTICE

IN THE ESTATE OF DAVID
ARTHUR BROWN also known
as DAVID A. BROWN late

of 4644 Isleta Avenue in the
City of San Diego in the State
of California one of States 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 27'° November, 2009 after which date
the Administratrix will proceed to distribute the
assets of the Estate having regard only to the
claims, demands or interests of which she shall
then have had notice AND all persons indebted
to the above Estate are asked to settle such
debts on or before 27" November, 2009.

FREDERIK F. GOTTLIEB & CO.
Attorneys for the Administratrix
P.O. Box AB-20405

Bay Street, Marsh Harbour
Abaco, The Bahamas



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 7B



INTERNATIONAL BUSINESS



Halloween stores pop
up in old retail haunts

By MAE ANDERSON
AP Retail Writer

NEW YORK (AP) — The
recession hasn’t been so scary
for Halloween stores. In fact,
they’re finding better haunts
in the graveyards of failed
retailers.

The seasonal sellers are tak-
ing advantage of the spate of
retail bankruptcies and clos-
ings to open more — and
larger — temporary stores
this year in better locations. It
adds up to an aggressive bid
to capture cautious con-
sumers’ dollars in an industry
that has grown rapidly over
the past decade.

Spirit Halloween has raised
83 former Circuit City stores
from the dead, part of the 100
stores it has added to the 625
it had last year.

Other smaller competitors
are also taking bigger bites
this year: Halloween Express,
based in Owenton, Ky., and
Halloween Adventure, based
in Garnet Valley, Pa., have
each added about 10 new
stores this year.

Since Halloween falls on a
Saturday this year — the best
day according to those in the
industry since more adults
throw parties — retailers are
hoping for brisk business.

Despite the recession, mar-

ket research firm IBISWorld
Inc. expects 2009 sales for cos-
tumes and decor to rise three
per cent to $3.8 billion this
year compared with a year
ago. Halloween Adventure
CEO Joe Purifico confirmed
sales were “trending up” as
the company headed into the
important two-week stretch
before Halloween.

But seasonal retailers —
which make about 70 per cent
of their sales in September
and October — face tough
competition for market share
from lower-priced retailers
such as Target Corp. and
Wal-Mart Stores Inc., so visi-
bility is key.

“The bigger the storefront,
the bigger impression you
have on the consumer and
that’s the big plus,” said Spir-
it Halloween vice president
of operations Tony Detzi.

They stores say they’re not
really saving much on rent,
but spending similar amounts
to get better locations.

The Spirit Halloween on
Manhattan’s Upper West
Side was bustling on a recent
afternoon. Kids alternately
marveled and screamed at the
decor on the first floor —
including a life-size Michael
Myers from “Halloween” —
while shoppers browsed cos-
tumes ranging from knights

in armor to sexy nurses, most
for around $30, on the second
floor.

Lucy Mateo, 40, an execu-
tive assistant in New York
who works nearby, was sur-
prised at the speed the vacant
Circuit City morphed into
Spirit Halloween. “I didn’t
even know it was under con-
struction.”

Closings

Empty retail space from the
closings of Circuit City,
Mervyns, Linens ’N Things
and Home Depot’s Expo
Design Center have given the
temporary stores plenty to
work with.

Suzanne Mulvee, senior
economist at Property & Port-
folio Research, estimates
there is 269 million more
square feet in vacant retail
space — the equivalent of
about more than 5,000 full-

size Best Buy stores — across
the country compared with a
year ago. That gives retailers
bargaining power, she said.

“A year ago they were in
the corner of the mall, where
no one went to,” she said.
“Now there are all these
choices.”

Shuttered big-box stores
also let retailers have more
space, which ultimately trans-
lates into more dollars for sea-
sonal retailers.

“Tt helps to make the store
more shoppable, there’s more
floor space to put out all the
product that you want and
still have enough elbow room
for customers,” said Hal-
loween Adventure’s Purifico.
The average square footage
for Halloween Adventures
stores grew from 8,000 to
10,000 this year.

If you try to cram too much
into a smaller store, “the store
becomes a maze,” he said.

NOTICE
INTERHATIONAL BUSINESS COMPAMES ALT
Ko. 45 af 2000
WORLDWIDE ENTERTAINMENT MAMAGEMENT 5A

NOTICE is hereby given that SHERLINE JEAN LOUIS of
CARMICHEAL ROAD, NASSAU, BAHAMAS, is applying
to the Minister responsible for Nationality and Citizenship, for
registratior/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 23rd day of October, 2009
to the Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE is hereby given that WILSON PETIT-HOMME of
FIRETRAIL ROAD, NASSAU, BAHAMAS, is applying to
the Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person

who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the facts
within twenty-eight days from the 23rd day of October, 2009
to the Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that URA BELLE CLARKE of P.O.
BOX SS-5612, 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 16th day of October, 2009 to the Minister
responsible for nationality and Citizenship, P.O. Box N-7147, Nassau,
Bahamas.

NOTICE

NOTICE is hereby given that GEORGY ALCITA of TALL
PINES OFF GLADSTONE ROAD, NASSAU, BAHAMAS,
is applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement of the facts
within twenty-eight days from the 16th day of October, 2009 to the
Minister responsible for nationality and Citizenship, P.O. Box N-7147,
Nassau, Bahamas.

MOTICE
(NTERMATIONAL BUSINESS COMPANIES ACT

No. 45 of 00
LECCIAND WAMBGEMENT $4

Wotca Is herby given that in accordance with Secon 137 of The Intemational Buianess
Compares Act No. 45 of 2f00, LECCIANO MANAGEMENT 6.0, is in dissdution. The
dele of commencement of deeolution was the 1th day of Ociobar 208. Dillon Dean of
Hassau, Bataras is fhe Liguidater a! LECCIANO MANAGEMENT $4.

Dilon Dean
LIQUIDATOR,

Meice a hanay great that in accordance wih Section 137 of The Intemational Besiness
(Companies Act We. 45 a! 2000, WORLDWIDE ENTERTAINMENT WAMAGEMENT SA ia in
dasdeies, The date of commescament of desolution wes tha 19th day of October, 2008
Gillon Dean cf Hassau, Bahari fs tte Liguidalo: of WORLDWIDE ENTERTAINMENT
MANAGEMENT SA,

NOTE
INTERNATIONAL BUSINESS OOMPAMES ACT
Ne. dE of 2000
SELLA GMBH

Weice i hereby green [hat in accordance wih Secion 137 of The inlamationel Busines:
Cenpanies Add No. 45 of 2000, BELLA GINBH is in chesalvtion. The date of continencement of
dissaiion wes tha th coy of Coster 2008. Dillion Dean of Nass. Baharnas is the
Liguitalst of SELLA GiB,

Dillon Dean
LIOQUDATIR

INSIGHT

For the stories

behind the news,
read Insight
on Mondays











































MOTICE
TERNATIONAL BUSINESS COMPANIES ACT

No, 45 of 2000
GUANA COMSULTING GMBH

Welice is hereby given that in eccordance wih Section 137 of The Intemational Business
Companies Act No. 45 of 2000, IGUANA CONSULTING GMBH is in dissolution, The date
of conmencament of clssolidon mas the {6h day of Octrber 2008. Oillen Dean of Nassau
Bahamas is he Linuideter of IGUANA CONSULTING GMBH.

MOTICE

INTERMATIONAL BUSINESS COMPANIES ACT

Ke. 4 al 2000
GEMINI MANAGEMENT HOLDING §.A,

Hedoa is Havaby given thal in accorcence wit Section TH of The Irleeiaiocal Business
Companes Act No 45 of 2000, GEMINIS MANAGEMENT HOLDING S.A. é in
Sessiuten The date of commencenant of dessolution wae the (ih day of October 2008, Dillon
Dean of Nassau Bahamas is the Liguidatr of GEMINIS MANAGEMENT HOLDING
S.A.

NOTICE
INTERMATIONAL BUSIMESS COMPARIES ACT
Me. 45 of 2000

WRGO INVESTMENT HOLDINGS LIMITED

Mofoe is hereby given thal in accordance with Section 137 of The htemationsl Business
Companies Act Mo, 45 of 2000, VIRGO INVESTMENT HOLOUWGS LIMITED is in dissolution.
The dala of commencement of dseolon was tha th dey of Cetobar, 2008: (Dillon Dean of
Nassau, Bahamad 6 [ie Liqudaler o! VIRGO INVESTMENT HOLDINGS LIMITED.

Dilen Daan
LIQUIATOR

Real Esta |

The Bahamas Source For Homes, Apartment Communities & Rentals °

Everywhere The Buyers Are!

ee

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——



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THE TRIBUNE

FRIDAY, OCTOBER 23, 2009, PAGE 9B



INTERNATIONAL BUSINESS



China’s economy expands
8.9 per cent in third quarter

By ELAINE KURTENBACH
AP Business Writer

SHANGHAI (AP) — Lavish gov-
ernment spending and bank lending
helped China’s growth rate acceler-
ate to an 8.9 per cent pace in the
third quarter, far outstripping expan-
sions elsewhere around the globe
and raising questions about whether
the rapid rebound can be sustained.

China also announced Thursday
that industrial production and invest-
ment spending are growing at a
faster pace. That seemingly good
news unsettled local stock investors,
however, on fears Beijing may need
to rein in its stimulus policies to
avoid asset bubbles and inflation.

Companies, central bankers and
political leaders around the world
are increasingly counting on growing
demand from Chinese producers and
consumers to offset sluggish home
markets. Corporations from Coke
to Caterpillar are seeing their
strongest sales in Asia, particularly
China. So far, the growth is coming
mostly from government-backed
spending on construction and other
projects, but demand from China’s
traditionally frugal, still relatively
poor consumers is also rising.

The world’s third-largest econo-
my began to falter in late 2008 as
exports plunged and thousands of
factories shut down, throwing mil-
lions out of jobs. China fought back
with a four trillion yuan ($586 bil-
lion) stimulus plan involving mas-
sive spending and bank lending for
construction of infrastructure such
as railways and roads to pump up
the domestic economy.

Growth fell to a low of 6.1 per
cent in the first quarter, but rebound-

THE WEATHER REPORT {i

5-Day ForREcAST

ORLANDO



A VENDOR sleeps surrounded by his vegetables at a market in Suining in southwest

China’s Sichuan province.

ed to 7.9 per cent in the second quar-
ter, hitting 8.9 per cent in the third
quarter compared with a year earli-
er. That puts the economy on track
to at least meet the official target of
an eight per cent expansion for 2009.

With China in the forefront, “Asia
appears to be leading the global
recovery,” Federal Reserve chair-
man Ben Bernanke said earlier this
week. “Recent data from the region
suggest that a strong rebound is, in
fact, under way.”

Yet sustaining the upswing beyond
a few quarters hinges on stronger
demand for exports from important
markets such as the US, Europe and
Japan which are emerging only slow-
ly from the worst global recession
since World War II.

“We'll see strong growth from
China for the next six months, pos-
sibly another year,” said Standard
Chartered Bank economist Stephen
Green. “The problem is what hap-
pens after another year and a half.
What will be the growth driver

Partly cloudy, a

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then?” he said.

Signaling another set of concerns,
China’s top leaders said Wednesday
that policies will increasingly focus
on countering inflation — a prob-
lem that had seemed below the hori-
zon with consumer prices down 1.1
per cent so far this year. They also
resolved to clamp down on waste,
industrial overcapacity and other
imbalances brought on by the rapid
resurgence in growth.

Still, the announcement that
growth continued to accelerate in
the third quarter contained a hint of
jubilation over Beijing’s progress in
mending damage from the global
economic crisis.

“We can say we have made obvi-
ous and remarkable achievements
in our economic growth,” National
Statistics Bureau spokesman Li
Xiaochao told reporters in Beijing.

“We have quickly reversed the
economic slowdown. The momen-
tum of the recovery is solid and over-
all, our economic performance is

Partly sunny, a
t-storm; breezy
High: 87°
Low: 77°
PCr mtd etd
100°-82° F

ABACO
High: 86° F/30° C
Low: 77° F/25°C

A
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FREEPORT
High: 86° F/30°C 4
Low: 76° F/24°C o

NASSAU
High: 86° F/30°C
Low: 77° F/25°C

@

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ANDROS
High: 86° F/30°C
Low: 77° F/25°C

8- io knots

Shown is today's
weather. Temperatures
are today's highs and

tonight's lows.

NN

89°F/32°C

» Antigua
ighs: 87°F/31°C

Barbados
Highs: 86°F/30°C

9 Trinidad
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SQ Highs: 89°F/32

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Partly sunny, a

showing signs of improvement,” Li
said.

Industrial output rose 8.7 per cent
in the first three quarters of the year,
and 12.4 per cent in July-September
— signaling accelerating demand for
steel and other industrial goods.

While China’s imports still fall far
short of its exports, its recovery is
playing a stabilizing role for other,
harder-hit economies, said David
Cohen, director of Asian economic
forecasting for the consultancy
Action Economics in Singapore.

“The Chinese are the biggest cus-
tomers for many countries around
the world,” he said. “They matter
like never before.”

Surging purchases of coal, iron ore
and other minerals have aided glob-
al miners BHP Billiton and Rio Tin-
to.

Automakers such as Ford Motor
Co. and General Motors Co. are
increasingly reliant on China with
its auto market surging ahead of the
US to become the world’s biggest
this year.

Caterpillar Inc., which makes
heavy equipment, raised its earnings
forecast for the year because of per-
formance in Asia, its best-perform-
ing region. Deliveries of its products
in China were higher than they had
ever been for the third quarter.
Coca-Cola Co. plans a $2 billion
investment along with its bottlers in
China in the next three years to meet
the growing popularity of fizzy
drinks.

Even as China’s rapid recovery
sees it loom ever larger for compa-
nies in the West, it is grappling with
problems that could undermine that
progress.

Heavy reliance on spending on

=F

——

Partly sunny, a Periods of sun,

public works and other investments
has raised worries that wasteful and
redundant outlays on new factories
and unneeded construction will
worsen gluts, while inviting finan-
cial problems as projects fail to pay
off.

Record bank lending has also
helped spur potentially unhealthy
run-ups in property and share prices.
On Wednesday, top bank regulator
Liu Mingkang ordered banks to
show more caution in lending in
coming months.

The government this week also
outlined fresh curbs on investments
in steelmaking and other industries
plagued by massive overcapacity.

China’s planners are seeking to
widen the sources of growth beyond
exports and investment in state-dom-
inated industries by channeling
spending to areas of the economy
expected to spur more consumer
spending and improve productivity.

While China’s domestic con-
sumption remains low compared
with other major economies, it is ris-
ing. Retail sales grew 15.1 per cent in
the first three quarters, the statistics
bureau said. Housing sales have
been rising and new housing starts
are also picking up.

“T never trusted what the econo-
mists were saying on TV about the
recovery until our orders doubled
last month. Now I’m convinced,”
said Zhang Yizheng, general man-
ager of Shanghai Rising, a trading
company that deals in plastic pipes
used mainly in vehicles.

“Our orders from car makers,
electric equipment makers and con-
struction companies tell me that
their business is returning to nor-
mal, too.”

INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

TT) a eg

0|1|2|3

Low

la[5

MODERATE

6|7

HIGH

8|9f10

V. HIGH

The higher the AccuWeather UV Indexâ„¢ number, the

t-storm possible

High: 87°
Low: 79°
PCR Lm tet gtd |
92°-85° F

<< >

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t-storm possible greater the need for eye and skin protection

High: 87°
Low: 78°
AccuWeather RealFeel
92°-82° F

t-storms possible

High: 88°
Low: 78°
PCE r met ml) |
99°-86° F

TIDES For NASSAU
High Ht.(ft.

11:04am. 3.0
11:26 p.m. 2.4

11:54 a.m.

Low

Today
5:38 p.m.

5:27 a.m.
6:30 p.m.

6:22 a.m.
7:25 p.m.

7:22 a.m.
8:18 p.m.

8:24 a.m.



Saturday



Statistics are for Nassau through 2 p.m. yesterday

Temperature

86° F/30° C
. 75° F/24° GC :
"84° F/29° C 1:44 p.m.
. 72° F/22° © Tuesday 2:19
Last year's high . 88° F/31° C : 2:39 . an
Last year's low 78° F/26° G
Precipitation
As of 2 p.m. yesterda’ Ot"
Year to date
Normal year to d

12:21 a.m.
12:48 p.m.

1:20 a.m.

Sunday



Monday

Normal high
Normal low

Wednesday 3:14 a.m.
3:30 p.m.



10:16 a.m.
10:34 p.m.

Thursday 4:03 a.m.
4:16 p.m.



AccuWeather.com

Forecasts and graphics provided by
AccuWeather, Inc. ©2009

eM

Sunrise. .....7:12a.m.
Sunset....... 6:36 p.m.

First Full

@€: Ce 7

Oct. 25 Nov. 2

SAN SALVADOR
High: 85° F/29°C
Low: 76° F/24°C

A
<7 & >
Vv
12-25 knots

. MAYAGUANA
a j High: 86° F/30° C
’ 3 Low: 76° F/24°C

ELEUTHERA
High: 86° F/30°C

Low: 78° F/26°C 12:13 p.m.

10:54 p.m.
New

Moonrise ...
Moonset....

Last

CATISLAND
High: 85° F/29°C
Low: 74° F/23°C

Nov. 9 Nov. 16

GREATEXUMA or
High: 87° F/31°C
Low: 76° F/24°C

core

ay

IX
LONG ISLAND
High: 86° F/30° C
Low: 76° F/24°C

CROOKED ISLAND / ACKLINS

High: 88° F/31°C
RAGGEDISLAND = ow:78°F/26°C
High: 86° F/30° C
Low: 75° F/24°C
GREAT INAGUA
High: 89° F/32°C
Low: 77° F/25°C

-
Tee

Cm
A
<1 A >

Vv

8-16 knots

A
<1 ZW >

7-14 knots

MARINE FORECAST

WINDS
E at 12-25 Knots
urda S$ at 20-30 Knots
oday: NE at 8-16 Knots
Saturday: SW at 4-8 Knots
oday: SE at 12-25 Knots
Saturday: SE at 8-16 Knots Feel 10 Miles g4e
CROOKED ISLAND Today: S at 8-16 Knots Feel 3 Miles 84°
Saturday: ESE at 8-16 Knots -4 Fee 6 Miles g4e
ELEUTHERA oday: E at 15-25 Knots 2 Feet 4 Miles 83°
Saturday: SSE at 10-20 Knots -8 Fee 10 Miles 83°

FREEPORT oday: ENE at 10-20 Knots Fee’ 10 Miles 82°
Saturday: SW at 7-14 Knots Feel 5 Miles 82°
oday: N at 8-16 Knots Feel 5 Miles 83°
Saturday: SSE at 8-16 Knots Feel 5 Miles 83°
oday: S at 7-14 Knots Feel 5 Miles 4°
Saturday: ESE at 7-14 Knots Feel 6 Miles 84°
LONG ISLAND oday: SSW at 10-20 Knots Fee’ 3 Miles 84°
Saturday: SE at 8-16 Knots Feel 10 Miles 84°
lay: SSE at 10-20 Knots Feel 4 Miles 84°
urday: ESE at 10-20 Knots Feel 6 Miles 84°
lay: ENE at 12-25 Knots Feel 10 Miles 83°
Saturday: _S at 10-20 Knots Feel 10 Miles 83°
lay: SW at 7-14 Knots Feel 10 Miles 84°
Saturday: SE at 7-14 Knots Feel 10 Miles 84°
lay: SE at 12-25 Knots Feel 4 Miles 84°
urday: SSE at 8-16 Knots Feel 10 Miles 84°

WAVES
6-10 Feet
6-10 Feet
Feel
Feel
0 Feet

VISIBILITY WATER TEMPS.
10 Miles 81°

5 Miles 81°
10 Miles 83°
10 Miles 83°
3 Miles 84°

ABACO

oday:

ANDROS

CAT ISLAND

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Boo PO] A ON coleo cols Aloo coleo Bloo a/R [or ano BY

GREAT EXUMA

GREAT INAGUA

MAYAGUANA

Sa
NASSAU

SAN SALVADOR







RAGGED ISLAND













INSURANCE MANAGEMENT

(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
TRIBUNE SPORTS

FRIDAY, OCTOBER 23, 2009, PAGE 9



INTERNATIONAL SPORTS
a

For the action
www. tribune 242 cor

Wallace helps
Celtics beat
Shaq and Cavs

By RUSTY MILLER
AP Sports Writer

COLUMBUS, Ohio (AP)
— The Boston Celtics rested
two-thirds of their Big Three.
Everybody else was up to the
task.

Eddie House scored 21
points as the Celtics rolled to
a 96-82 victory over the
Cleveland Cavaliers in a pre-
season game Wednesday
night.

"We got a win. We closed
the preseason out right,” said
House, who hit 8 of 14 shots
from the field including three
3-pointers.

Kevin Garnett and Ray
Allen didn't play for the
Celtics, coach Doc Rivers say-
ing before the game that he
had also asked Paul Pierce to
rest. Pierce, however, started
and played just over 13 min-
utes and scored 11 points.

"IT was just trying to stay
sharp,” Pierce said.

"We've got five, six days
before we play again. I
thought it was good for me to
go out there."

The two teams meet again
in the season opener on Tues-
day in Cleveland.

"IT don't care where it is
when you play the Cavs,”
Pierce said. "They're a team
that we probably are going to
have to go through in the
Eastern Conference. They're
going to be right up there at
the top if they stay healthy.
It'd be great to get a win in
that building.”

Marquis Daniels scored 17
points, Kendrick Perkins 13
and Rasheed Wallace 10 for
the Celtics (6-2). They were
on top 32-22 after a quarter
and never trailed again, lead-
ing by as many as 21 points
in the third quarter.

LeBron James scored 18
points, Shaquille O'Neal 16
and Anderson Varejao had
10 for the Cavaliers (3-4).

os 6 @

&



The

RASHEED WALLACE shoots during the first quarter of a preseason game against the New Jersey Nets...
(AP Photo: Bill Kostroun)

‘, +“
a Sik
« ot:

». KASS feels ae Be







on Nets sale,
return of refs

By BRIAN MAHONEY
AP Basketball Writer

NEW YORK (AP) —
David Stern says the sale of
the New Jersey Nets to Rus-
sia’s richest man could be
approved by the end of the
year.

Stern said Thursday that
Mikhail Prokhorov, who has a
deal to buy 80 per cent of the
team, had a positive intro-
duction with NBA owners
during their two-day Board
of Governors meetings.

Prokhorov’s application is
currently under review and
the sale must be approved by
three-fourths of the league’s
owners.

Stern also says he’s hope-
ful the referees will approve a
new contract with the league
that would put them back to
work for the start of the reg-
ular season.

The commissioner also says
owners voted to give the
league office emergency pow-
ers to determine what hap-
pens if teams can’t field the
minimum eight players
because of illness.

Jazz pounce on Blazers, 108-97

By ANNE M PETERSON
AP Sports Writer

PORTLAND, Ore. (AP) — After
a dominating preseason win over the
Portland Trail Blazers, Carlos Booz-
er feels like the Utah Jazz are ready
for the regular season.

"We've got to tighten up some
stuff," he said. "We've got to take
care of that full-court press a little
better at the end of the game, I'm
sure we'll get over it tomorrow. But
for the most part, I think we did a
good job defensively, especially in
the half court. We did a good job of
helping each other."

Deron Williams had 27 points and
Boozer and Ronnie Brewer each
added 16 in Utah's 108-97 presea-
son victory over Portland on Tues-
day night.

The Jazz (4-2), missing Kyle Korv-
er and C.J. Miles because of injuries,
led by as many as 25 points.

"T don't have all our players here,
that's the thing that's always diffi-
cult,” coach Jerry Sloan said about
the impending season. "But we're
going to play anyway, and I've
always believed that if you come and
play hard as a team, you always have
a chance."

Jerryd Bayless had 16 points for
the Blazers (3-4), who overall
seemed both tired and out of sorts.
Brandon Roy had 15 points and
Travis Outlaw added 10, all in the
first quarter.

"We just looked like we hadn't
seen each other today,” Roy said.
"It's almost like a quarterback play-
ing with a receiver he's never played
with before.”

Utah center Mehmet Okur
returned after missing Sunday's vic-
tory over Charlotte with a sore back
and contributed five points.

The Blazers made a surprise move
when Juwan Howard started at for-
ward instead of LaMarcus Aldridge,



After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude



CARLOS BOOZER dunks in the first quarter of their preseason game...
(AP Photo: Rick Bowmer)

who had a left shin contusion and
was a last-second scratch. Howard
was acquired by Portland as a free
agent in the offseason.

Portland lost forward Nicolas
Batum early in the game with a hip
injury.

The Blazers were already without
center Greg Oden, who bruised his

thigh on Sunday in Portland's come-
from-behind victory over Denver.

Blazers swingman Rudy Fernan-
dez missed the game because of a
bad back, and coach Nate McMil-
lan said he's unlikely to play in the
preseason finale Thursday against
Phoenix in Vancouver, British
Columbia.



GREG ODEN can be seen during media day. After an inconsistent debut season, Oden
reinvented himself during the summer by shedding 15 pounds, adding a couple of

new moves and changing his attitude...

The Jazz led by as many as 13
points in the first quarter, jumping
on the dazed Blazers. About the
only spark for Portland was Outlaw,
but even that was short-lived.

Utah's dominance continued as
Kyrylo Fesenko's running jumper
extended the lead to 40-26.

The Jazz led 59-40 at halftime, and
Boozer's tip-in stretched the lead to
85-61 at the end of the third quarter.

Both teams pretty much sat their
starters for the final quarter.

The officials drew the ire of fans
— who chanted their displeasure —
with a few questionable calls, but
there was word earlier Tuesday that
the NBA's labor dispute with the
referees’ union may be drawing to a
close.

A person familiar with the nego-
tiations told The Associated Press
that the league has made a new pro-

a
rt

_- — a

(AP Photo: Don Ryan)

posal. The person, who requested
anonymity because the negotiations
are ongoing, said it's "highly likely"
the referees will be back for the
opening of the season.

The Jazz, who went 48-34 last sea-
son before falling to the eventual
NBA champion Los Angeles Lakers
in the first round of the playoffs, vis-
it the Sacramento Kings for the pre-
season finale before opening at Den-
ver on Oct. 28.

Portland won 54 games last season
but fell to the Rockets in the first
round of the playoffs. After wrap-
ping up the season against the Suns,
the Blazers open at home against
Houston next Tuesday.

Portland tried to acquire Utah for-
ward Paul Millsap in the offseason,
signing the restricted free agent to an
offer sheet. But the Jazz matched
the offer.

a

*

~~
at

BAHAMAS

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PAGE 4

EDITOR, The Tribune. One of the most talked about issues in The Bahamas today is the rape bill as many refer to it. In high schools, colleges, on the job, in church board rooms and everywhere else imaginable both men and women, young and old are discussing the proposed amendments to the Sexual Offences Act. Some of our religious leaders have come out in support of it and some have said openly that they disagree with it. There are many times when government should seek the advice of the church and this is one of them, but in my opinion the church has been silent on so many issues that they should have spoken out on that many people are wondering if many of the religious leaders themselves are hiding on this one. This particular piece of legislation needs much con sultation and I must applaud the government on how they are dealing with it, by going from place to place including our Family Islands to have discussions and dialogue with the masses. I agree with some parts of the new amendment and chose to disagree with some parts of it. Let's look at one of the main points where an issue arises for me. Presently, a spouse can not report another for rape. With the new legislation an incident happens with my spouse and she conjures in her mind that she is going to get back at me for something I did. She can wait two years before the incident is statute barred, so she can report me for rape to the police? I truly believe the police will do its investigation, but the interrogation they will put me through will cause embarrassment to me and my integrity that may never be able to fix, depending on where they pick me up or who picks me up. Never mind what is being said that proper investigation will be conducted and the spouse reporting the incident will have to prove that an offence took place. This bill could lead to more family violence, because when the spouse is allowed to leave the station, he may head directly for the accuser and may cause bodily harm or even murder. The government, the Crises Centre and all involved should think hard and long on this one. We call ourselves a ‘Christian nation’; do we really know what we are saying? As a Christian nation, we should be able to work out these situations and live together in peace and unity. The Crises Centre, the church and the government need to all sit down around the round table and properly trash this bill out, so that we do not make the major mistakes or leave any stone unturned. Speak up religious lead ers, like the Catholics and the Seventh-Day Adventists, speak with one voice not one here and one there, come together and work this one out, before we have more chaos in the land. CURTIS BRYAN Nassau, October, 2009. E DITOR, The Tribune. I support the initiatives of Bishop Simeon Hall as itr elates to the construction o f the memorial wall that is located on the grounds of t he New Covenant Baptist Church, Independence Highway. The wall’s structure is sign ificant and it’s truly a beaut iful symbolic tool in remembrance of our loved ones whose lives have ended in horrific and unjust fashions. Nevertheless some words o n the wall are controvers ial and oppose the Christi an belief and it belittles our supreme God because it is used out of its original context; “our father which arti n heaven is a jealous God.” This error is despicable and those who suggested the use of the Revelation 7:17 as a header for this innovative wall must make the necessary corrections to insureb iblical validity. T he writing on the wall states “And God shall wipe away all tears from their eyes......Revelation 7:17. Now the full verse ofR evelation 7:17 states. For the Lamb which is in the midst of the throne shall feed them, and shall lead them unto living fountains of waters: and God shall wipe away all tears from their eyes.” Using of thisb iblical scripture with names of the deceased attached to it misleads Jesus Christ’s Gospel; those who con structed the wall are saying they have the power toj udge souls. This scripture is talking about the congregation in heaven. How do we k now that all of the individuals on that wall are going toh eaven? Scripture reveals t hat Jesus is judge through God the almighty. Psalms 50:6, states “and t he heavens shall declare his righteousness for God is judge himself.” Proverbs2 9:26 states “Many seek the ruler’s favour; but every m an’s judgment cometh from the Lord.” Ecclesiastes 12:14 states “For God shallb ring every work into judgment, with every secret t hing, whether it be good, or whether it be evil.” In The book of John the f ifth chapter versus 25-31 Jesus states: 2 5 “Verily, verily, I say unto you, The hour is coming, and now is, when thed ead shall hear the voice of the Son of God: and they that hear shall live.” 26 “For as the Father hath life in himself; so hath heg iven to the Son to have life in himself;” 27 “And has given him a uthority to execute judgment also, because he is the s on of man. 28 “Marvel not at this: for the hour is coming, in whicha ll that are in graves shall hear his voice, 2 9 “And shall come forth; they that have done good, unto the resurrection of life;a nd they that have done evil, unto the resurrection of damnation.” 30 “I can of mine own self do nothing: as I hear, I judge: and my judgment is just; because I seek not mine own will, but the will of thef ather which has sent me.” 31 “If I bear witness of myself, my witness is nott rue.” I support Mr Simeon Hall and the construction of the wall but the scripture of R evelation 7:17 needs to be replaced with something less judgmental. In the book of C orinthians Paul clearly o pposes the thought of judging others as well as self j udgment. This is the man who wrote two thirds of the N ew Testament. He states in 1 Corinthians 4:3-6 ( 3) “But with me it is a v ery small thing that I should be judged of you, or of man’s judgment: yeah, Ij udge not my own self.” ( 4) “For I know nothing by myself; yet am I not hereby justified: but he that Jud geth me is the Lord.” 5 “Therefore judge nothing b efore the time, until the Lord come.” N ow I cannot throw s tones at any man (human r ace) because “we all were born in sin”. Matthew 7, ver-s us 1-2 is relevant for judgi ng the way others live their lives, but I am not judging, I am giving biblical justifica t ion that Jesus is the judge of our souls. Nevertheless when a man takes on the role of Jesus Christ, I could care less even if he carries the title Bishop, he is out ofo rder and his decision maki ng needs to be realigned to the word of God. Bishop, I know that the idea was harmless but we as believers mislead people when we make careless mistakes, correct it please! ELKIN SUTHERLAND Jr N assau, October 2009. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master L EON E. H. DUPUCH, Publisher/Editor 1903-1914 S IR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. P ublisher/Editor 1972Published Daily Monday to Saturday S hirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama W EBSITE www.tribune242.com – updated daily at 2pm Bishop Simeon Hall and the Memorial Wall LETTERS letters@tribunemedia.net Insurgents pursue different goals Bright +Effective 322-2188/9 You’ll wonder how you ever got along without it. Long life Spiral lamps 2 0 0 8 C r e a t i v e R e l a t i o n s . n e t 'HYRQ$OH[DQGHU 0F,QWRVK 'HYRQ$OH[DQGHU %HOO Marital rape bill: Religious leaders need to speak up WASHINGTON As it devises a new A fghanistan policy, the Obama administration confronts a complex geopolitical puzzle: two embattled governments, in Afghanistan and Pakistan; numerous militias aligned with overlapping Islamist factions; and hidden in the factions’ midst, the foe that brought the Unite d States to the region eight years ago, al-Qai d a. But at the core of the tangle are the two Taliban movements, Afghan and Pakistani. They share an ideology and a dominant Pasht un ethnicity, but they have such different histories, structures and goals that the commonn ame may be more misleading than illuminati ng, some regional specialists say. “The fact that they have the same name c auses all kinds of confusion,” said Gilles Dorronsoro, a French scholar of South Asia curr ently at the Carnegie Endowment for International Peace in Washington. This week, Dorronsoro said, as the Pakistani army began a major offensive against the Pak istani Taliban, many Americans thought incor-r ectly that the assault was against the Afghan Taliban, the force that is causing Washington to c onsider sending more troops to Afghanistan. At stake is not just semantics. Grasping the differences between the two Taliban forces, and their shifting relationships with al-Qaida, is crucial to understanding the debate under way i n the White House situation room. Though both groups threaten American interests, the A fghan Taliban the word Taliban means “religious students” are the primary ene-m y, mounting attacks daily against the 68,000 American troops in Afghanistan. Washington’s biggest fear is that if the Afghan Taliban overr un the country, they could invite al-Qaida’s leaders back from their Pakistani hide-out. A lex Strick van Linschoten, a Dutch researcher who lives in Kandahar, in the heart of the Afghan Taliban’s power base, said that while leaders of the two Taliban groups might say that they share common interests, the two m ovements are quite separate. “To be honest, the Taliban commanders and g roups on the ground in Afghanistan couldn’t care less what’s happening to their Pakistani brothers across the border,” said Strick van Linschoten, who has interviewed many current and former members of the Afghan Taliban. In fact, the recent attacks of the Pakistani Taliban against Pakistan’s government,m ilitary and police, in anticipation of the army’s current campaign into the Pakistani Taliban’s base in South Waziristan, may have strained relations with the Afghan Taliban, said Richard Barrett, a former British intelligence officer who tracks al-Qaida and the Taliban for the United Nations. The Afghan Taliban have always had a close relationship with Pakistani intelligence agencies, Barrett said recently. “They don’t like the way that the Pakistan Taliban has been fighting the Pakistan government and causing a whole load of problems there,” he said. The Afghan Taliban, whose group is by far the older of the two forces, have been led by Mullah Muhammad Omar since he founded t he movement in 1994. They seek to regain the power they held over most of Afghanistan before being ousted by the American invasion of 2001. In an interview this week, speaking on the condition of anonymity, an Afghan Taliban commander expressed sympathy for the P akistani Taliban, but said, “There will not be a ny support from us.” He said the Afghan Taliban “don’t have any interest in fighting against other countries.” Our aim was, and is, to get the occupation forces out and not to get into a fight with aM uslim army,” the commander added. B efore 9/11, the Afghan Taliban hosted Osama bin Laden and the other leaders of alQ aida, but the groups are now separated geographically, their leaders under pressure from i ntensive manhunts. On jihadist Web sites, analysts have detected recent tensions between al-Qaida, whose proclaimed goals are global, and the Afghan Taliban, which have recently claimed that their interests lie solely in A fghanistan. Dorronsoro, the French scholar, said the Afghan Taliban were a “genuine n ational movement” incorporating not only a broad network of fighters, but also a shadow government-in-waiting in many provinces. By comparison, he said, the Pakistani Taliban were a far looser coalition, united mainly by t heir enmity toward the Pakistani government. They emerged formally only in 2007 as a separ ate force led by Baitullah Mehsud under the name Tehrik-i-Taliban Pakistan, or Students’M ovement of Pakistan. After Mehsud was killed by an American missile in August, a fellow tribesman, Hakimull ah Mehsud, took over after a period of jock eying for power in Pakistan’s tribal areas. A nother complication for regional terminology: Most leaders of the Afghan Taliban are based in Pakistan, directing their forces from hide-outs across the border. Omar and his top deputies are believed to be in or around the s outhern Pakistani city of Quetta. Two other major factions in the Afghan insurgency are l ed by veteran Afghan warlords, Jalaluddin Haqqani and Gulbuddin Hekmatyar, who are in Pakistan’s tribal areas, where the Pakistan Taliban is strongest. Al-Qaida’s leaders, including bin Laden, are believed to be hiding in the same tribal areas of Pakistan. While it has been weakened by American missile strikes, the ter-r orist network nonetheless is believed to have provided support for the Pakistani Taliban’s strikes against the Pakistani government. For the United States, regional experts say, the long-term challenge is to devise policies that peel away as many militants as possible from both Taliban forces, isolating al-Qaida and other hard-liners and strengthening the Pakistani and Afghan governments. But for a non-Muslim superpower, widely resented in the region, that is a tall order. (This article is by Scott Shane c.2009 New York Times News Service)

PAGE 5

C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM fallen colleague. We want to thank the family for allowing him to serve in such a noble way,” Mr Hanna said. He also extended his thanks to the members of the public who helped the officers after the crash. Police have launched an investigation into the crash, and are asking for the public’s assistance with information regarding the white car involved in the accident. a ttempted extortion charges against Hollywood actor John T ravolta. E xcited delegates jumped on their chairs and danced to “Oh Happy Day!” to celebrate Bridgewater's alleged acquitt al as Mr Forbes exclaimed: “Pleasant is a free woman PLPs! Pleasant is a free womanP LPs! God is good PLPs! Pleasant is a free woman! God s till reigns PLPs!” T he outburst was broadcast live on national television and radio while the jury was still ind eliberations at 9.30pm. S enior Justice Allen declared a mistrial less than two hours later as she said: We are very concerned, in the interest of justice, that it does not appear that there has beena communication from the jury room. Justice must not only be done, but seen to be done.” Mr Forbes was allegedly q uestioned by police on Wednesday night, but his attorney Anthony McKinney of M cKinney, Turner and Co, said he was not aware of any police involvement. M r McKinney visited Senior Justice Allen at her court yesterday morning and agreed to appear in court with Mr Forbes at 10am today “with a view to answering the question as to why he should not be held inC ontempt of Court,” Mr McKinney said. Mr Forbes' attorney told T he Tribube h ow the MP had n ot had any communication with the jury but had heard the news on the convention floorb efore he shouted it out on stage. The attorney said: “I expect y ou will understand there was no intention on his part to do anything that could be con strued to be calculated to cont rovert the proceedings before the judge.” Mr McKinney maintains Mr F orbes' premature announcement was an innocent act as he was simply repeating something he had heard on the conv ention floor. He said: “He took the moment. He was in an accel e rated mood in the party and events being what they are it wasn't something that he sat down and contrived. “It produced a result that nobody wanted of course, and if it had any intent in it, itw ould be egregious, but having no intent it cannot be egre gious.” H e added: “Any number of c ircumstances could play into how the information came into the public domain, but I knowh e did not in any way contribute to the rumour becom ing a part of what he eventual l y announced. “He is innocent in that regard.” Incumbent party leader Perr y Christie refrained from com ment when asked about the matter yesterday. H e said the party maintains the official statement released by the PLP on Wednesday. T he statement reads: “(Wednesday course of an address at our annual national general conv ention, it was announced that former Senator Pleasant Bridgewater had been acquit-t ed. “The announcement was incorrect. We give an unqualified apology. “This was not intended to interfere with the administration of justice.” O bie Wilchcombe got 400 and Senator Jerome Fitzgerald secured 200. Having participated in what some said w as the most competitive race for deputy l eadership in the party’s history – a race which some credited for attracting a record turnout to the convention – Mr Davis said he was “humbled and overwhelmed” by the support he had received from stalwart coun c illors and delegates. As the unofficial announcement that Mr D avis had secured the deputy post was relayed from the room where the ballots were counted down to party supporters on the ground floor of the hotel, the scene erupted with supporters shouting with delight and music blaring. Supporters began chanting that the party now represented “The Real CDR” – with (Perry and (Bradley apparent jibe at unsuccessful leadership chal lenges and former leader of the Coalition for Democratic Reform, MP for Bain and Grants Town Dr Bernard Nottage. When the MP reached the bottom of the escalator surrounded by his fans – who have been the most visible and vocal throughout the convention, which began on Wednesday at the Wyndham Nassau Resort – he was met and congratulated by PLP leader Perry Christie and the pair were thronged by supporters to the point that police had to step in to ensure the safety of the politicians in the dense crowd. Mr Davis, who engaged in an extremely professional public relations campaign in the run up to nominating, told the press thath e felt his victory was a result of “very hard w ork” on the part of himself and his team. Asked what he intends to do next, he referred to the intention stated in his published platform to “unify and strengthen” the party. Upstairs, Senator Fitzgerald thanked his f ans for their support, declaring that although he felt he had successfully run a “clean” campaign which “focused on thei ssues of the country”, the party has spoken and he would now “accept that and unite behind the leader and the deputy” towards seeing the party win the next general elec t ion. Nonetheless, he hinted that this would not be his last attempt to secure a leadershipp osition in the party. “I am humbled by the love and support I have received from so many people through-o ut this country. You have taken me into your homes, you have fed me, and I have lis tened to you very carefully and let me assure you that this is only the beginning “God does everything in his own time. God does not make a mistake “I want to assure you all that I am even more determinedWe will be back again,” said Mr Fitzgerald, thanking his campaign team and wider supporters. Mr Fitzgerald was then joined by Mr Davis, and the two embraced and congratu lated each other. Absent from the proceedings was Mr Wilchcombe, who was not spotted during or after the ballot counting, which lasted for over three hours. Police officer is killed in collision FROM page one O THELLO DARVILLE w as a married father of two children. Picewell Forbes to appear before Senior Justice F ROM page one Davis takes PLP Deputy Leadership FROM page one P HILIP DAVIS i s mobbed by supporters at the PLP convention. F e l i p M a j o r / T r i b u n e s t a f f Shar e your news The Tribune wants to hear f rom people who are making news in their n eighbourhoods. Perhaps y ou are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986and share your story.

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By RUSTY MILLER AP Sports Writer COLUMBUS, Ohio (AP The Boston Celtics rested two-thirds of their Big Three.E verybody else was up to the task. Eddie House scored 21 points as the Celtics rolled to a 96-82 victory over the Cleveland Cavaliers in a preseason game Wednesday night. "We got a win. We closed the preseason out right," said House, who hit 8 of 14 shots from the field including three 3-pointers. Kevin Garnett and Ray Allen didn't play for the Celtics, coach Doc Rivers saying before the game that he had also asked Paul Pierce to rest. Pierce, however, started and played just over 13 minutes and scored 11 points. "I was just trying to stay sharp," Pierce said. "We've got five, six days before we play again. I thought it was good for me to go out there." The two teams meet again in the season opener on Tuesday in Cleveland. "I don't care where it is when you play the Cavs," Pierce said. "They're a team that we probably are going to have to go through in the Eastern Conference. They're going to be right up there at the top if they stay healthy. It'd be great to get a win in that building." Marquis Daniels scored 17 points, Kendrick Perkins 13 and Rasheed Wallace 10 for the Celtics (6-2 on top 32-22 after a quarter and never trailed again, leading by as many as 21 points in the third quarter. LeBron James scored 18 points, Shaquille O'Neal 16 and Anderson Varejao had 10 for the Cavaliers (3-4 Stern hopeful on Nets sale, return of refs C M Y K C M Y K INTERNATIONAL SPORTS TRIBUNE SPORTS FRIDAY, OCTOBER 23, 2009, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By BRIAN MAHONEY AP Basketball Writer NEW YORK (AP David Stern says the sale of the New Jersey Nets to Russia’s richest man could be approved by the end of the year. Stern said Thursday that Mikhail Prokhorov, who has a deal to buy 80 per cent of the team, had a positive introduction with NBA owners during their two-day Board of Governors meetings. Prokhorov’s application is currently under review and the sale must be approved by three-fourths of the league’s owners. Stern also says he’s hopeful the referees will approve a new contract with the league that would put them back to work for the start of the regular season. The commissioner also says owners voted to give the league office emergency powers to determine what happens if teams can’t field the minimum eight players because of illness. Wallace helps Celtics beat Shaq and Cavs R ASHEED WALLACE s hoots during the first quarter of a preseason game against the New Jersey Nets... (AP Photo: Bill Kostroun By ANNE M PETERSON AP Sports Writer PORTLAND, Ore. (AP a dominating preseason win over the Portland Trail Blazers, Carlos Boozer feels like the Utah Jazz are ready for the regular season. "We've got to tighten up some stuff," he said. "We've got to take care of that full-court press a little better at the end of the game, I'm sure we'll get over it tomorrow. But for the most part, I think we did a good job defensively, especially in the half court. We did a good job of helping each other." Deron Williams had 27 points and Boozer and Ronnie Brewer each added 16 in Utah's 108-97 preseason victory over Portland on Tuesday night. The Jazz (4-2 er and C.J. Miles because of injuries, led by as many as 25 points. "I don't have all our players here, that's the thing that's always diffi cult," coach Jerry Sloan said about the impending season. "But we're going to play anyway, and I've always believed that if you come and play hard as a team, you always have a chance." Jerryd Bayless had 16 points for the Blazers (3-4 seemed both tired and out of sorts. Brandon Roy had 15 points and Travis Outlaw added 10, all in the first quarter. "We just looked like we hadn't seen each other today," Roy said. "It's almost like a quarterback play ing with a receiver he's never played with before." Utah center Mehmet Okur returned after missing Sunday's vic tory over Charlotte with a sore back and contributed five points. The Blazers made a surprise move when Juwan Howard started at forward instead of LaMarcus Aldridge, who had a left shin contusion and was a last-second scratch. Howard was acquired by Portland as a free agent in the offseason. Portland lost forward Nicolas Batum early in the game with a hip injury. The Blazers were already without center Greg Oden, who bruised his thigh on Sunday in Portland's comefrom-behind victory over Denver. Blazers swingman Rudy Fernandez missed the game because of a bad back, and coach Nate McMillan said he's unlikely to play in the preseason finale Thursday against Phoenix in Vancouver, British Columbia. The Jazz led by as many as 13 points in the first quarter, jumping on the dazed Blazers. About the only spark for Portland was Outlaw, but even that was short-lived. Utah's dominance continued as Kyrylo Fesenko's running jumper extended the lead to 40-26. The Jazz led 59-40 at halftime, and Boozer's tip-in stretched the lead to 85-61 at the end of the third quarter. Both teams pretty much sat their starters for the final quarter. The officials drew the ire of fans who chanted their displeasure with a few questionable calls, but there was word earlier Tuesday that the NBA's labor dispute with the referees' union may be drawing to a close. A person familiar with the nego tiations told The Associated Press that the league has made a new pro posal. The person, who requested anonymity because the negotiations are ongoing, said it's "highly likely" the referees will be back for the opening of the season. The Jazz, who went 48-34 last sea son before falling to the eventual NBA champion Los Angeles Lakers in the first round of the playoffs, vis it the Sacramento Kings for the preseason finale before opening at Denver on Oct. 28. Portland won 54 games last season but fell to the Rockets in the first round of the playoffs. After wrap ping up the season against the Suns, the Blazers open at home against Houston next Tuesday. Portland tried to acquire Utah forward Paul Millsap in the offseason, signing the restricted free agent to an offer sheet. But the Jazz matched the offer. Jazz pounce on Blazers, 108-97 CARLOS BOOZER dunks in the first quarter of their preseason game... (AP Photo: Rick Bowmer GREG ODEN can be seen during media day. After an inconsistent debut season, Oden reinvented himself during the summer by shedding 15 pounds, adding a couple of new moves and changing his attitude... (AP Photo: Don Ryan After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude

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C M Y K C M Y K SPORTS PAGE 10, FRIDAY, OCTOBER 23, 2009 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GREEN BAY, Wis. (AP back Ahman Green says injuries weren’t the only thing that kept him from living up to expectations in Houston. Green, who signed a deal to return to Green Bay on Wednesday after being cut by the Texans in February, says emotional turmoil within his family affected his ability to focus on football the past two seasons. Green says his relationship with his daughters was “on the rocks,” and he was hit hard by the death of his father. But Green now says his relationship with daughters Ahmani, 12, and Myahni, 7, has greatly improved and he is completely focused after rejoining the Packers. P ac k ers’ Green says family strife affected his focus Commonwealth American Football League (C.A.F.L. 2009-2010 Schedule Week 1 Saturday, 17th October – Kingdom Warriors vs. Jets Sunday, 18th October – P ros vs. Stingrays *R.B.D.F. Bye Week* Week 2 S aturday, 24th October – R.B.D.F. vs. Kingdom Warriors Sunday, 25th October – Jets vs. Stingrays *Pros Bye Week* Week 3 Saturday, 31st October – Jets vs. ProsS unday, 1st November – Stingrays vs. R.B.D.F. *Kingdom Warriors Bye Week* W eek 4 Saturday, 7th November – Pros vs. R.B.D.F. Sunday, 8th November –K ingdom Warriors vs. Stingrays *Jets Bye Week* Week 5 Saturday, 14th November – P ros vs. Kingdom Warriors Sunday, 15th November –J ets vs. R.B.D.F. *Stingrays Bye Week* Week 6 Saturday, 21st November – Jets vs. Kingdom Warriors Sunday, 22nd – S tingrays vs. Pros *R.B.D.F. Bye Week* Week 7 S aturday, 28th November – Stingrays vs. Jets Sunday, 29th November – Kingdom Warriors vs. R.B.D.F. *Pros Bye Week* Week 8 S aturday, 5th December – R.B.D.F. vs. Stingrays S unday, 6th December – Pros vs. Jets *Kingdom Warriors Bye Week* Week 9 Saturday, 12th December – Stingrays vs. Kingdom Warriors S unday, 13th December – R.B.D.F. vs. Pros *Jets Bye Week* Week 10 Saturday, 9th January – R.B.D.F. vs. Jets Sunday, 10th January – Kingdom Warriors vs. Pros * Stingrays Bye Week* Playoff Games Saturday, 23rd January – Top Seed #1 vs. Seed #4 Sunday, 24th January – 2nd Seed #2 vs. Seed #3 C.A.F.L. CHAMPIONSHIP G AME New Providence Saturday, 6th February 2010 G ame time for regular season games is 1:30pm The CAFL schedule RENALDO’S RAMBLINGS By RENALDO DORSETT Sports Reporter renaldodorsett@yahoo.com by RENALDO DORSETT S ports Reporter rdorsett@tribunemedia.net L ast Week: 7-7 Week 7 N ew England Patriots at Tampa Bay Bucs We all learned valuable lessons this weekend. I l earned that because of a few select websites I may never go shopping for clothes in a store again, never to rely on Santana Moss, and that Murphy’s Law is a completeg uarantee in Fantasy Football. The Bahamas learned never to elect a DJ to the House of Assembly and have him rise up the ranks of a political party...badt hings happen (You don’t see DJ Khaled elected to Congress, Howard Stern will never be a Senator, Don Imus can’t even go to New Jersey but our DJ’s – politi-c ians. Of course this makes sense in the Bahamas). Despite it all, easily the most important lesson this week – every man, woman and child learned not to wane in their faith of Thomas Edward Brady. I am now afraid...as should you be. We knew Brady andB elichick love to make statements and flex their mus cles, but 59-0 was just ungodly. I can’t even do that on Madden, on any level. The schedule gods follow up with one of the few teams that could actually be worse t han the Titans. This is like if Ryan Reynolds divorced Scarlet Johansson and his agent got him a date the n ext weekend with Megan Fox. Do you know what Ryan Reynolds would do with an opportunity like that? We’re about to find out. P ATS over BUCS Atlanta Falcons at Dallas Cowboys In one of the blackest cities in America, on a team made up predominantly of black players, if the 25year-old second year quarterback, an average white guyf rom Exton, Pennsylvannia got the nickname “Matty Ice” and it sticks, and no one questions it, or even does a double take when they hear it...then he has d one all he needs to do to earn their trust and mine. I believe in you Matt Ryan. FALCONS over COWBOYS New York Jets a t Oakland Raiders T he greatest thing about sports is it gives us licence to hate...emphatically...and without apology. Herein lies the reason for my delight over the three game los ing streak which took the Jets from everyone’s sleeper to a team in turmoil. This is great. It’s like waking up every Sunday morning and watching the Pistons beat the Lakers in game 5 five of the 2004 Finals (Kobe cried, great television). I’m not quite certain why I hate them, but I do. It’s the Hatfield-McCoy feud for t he 21st century...we don’t question, we just participate. How long do we give Jamarcus Russell before he’s considered the next Ryan Leaf? The clock has to have s tarted by now right? JETS over RAIDERS S an Diego Chargers at Kansas City Chiefs Three years ago this would have been touted as the g ame of the week. Smashmouth football at its finest. Two of the league’s top rushers going at it to determine who gets to sit on the throne as the most elite back in all of pro football. Now it’ll be like watching Statler and Waldorf (the two ornery disagreeable old men from the Muppets Show) complain about everything from nag-g ing injuries, to young backs cutting into their carries, to the weather...but if LDT calls Darren Sproles a whipper snapper I’m changing the channel. CHARGERS over CHIEFS P hiladelphia Eagles at Washington Redskins F rom the time you start playing sports, coaches and parents try their best to drill it into your head...one loss is just like any other loss. Coaches and parents lie. After the Eagles lost to the Raiders and the Redskins lost to the Chiefs, it will be apparent that one loss is not l ike the others. There are some that are just too confusing, too ugly, too baffling to get over. Both theset eams suffered those kinds of losses this last weekend, season’s done. Off topic...with McNabb struggling, C ampbell on the ropes, and JaMarcus Russell clearly the next Ryan Leaf, are black quarterbacks pretty much done? Vince Young still rides the bench on an 0-6 team, Michael Vick may never start again, both guys in Tampa Bay are horrendous so just leaves...David Garrard. David Garrard, the new premier black quarterback! E AGLES over REDSKINS N ew Orleans Saints at Miami Dolphins ...And years later, later Drew Brees is still bitter. This week he cited the Dolphins and specifically Nick Saban's lack of faith in him saying they did not believe in his shoulder. We all know how the story goes, Mia mi gets Daunte Culpepper and the Saints got Breesw ho has been a pillar in the Saints community and one of the best at his position on the field, while the D olphins fought through some of the darkest days in league history. T hey meet Sunday with the Saints wanting to send another message to the league that they can go on the road and dominate and as an up and coming team they've passed every test thus far. The Dolphins still fresh off defeating what now looks to be 2 mediocre teams and maybe armed with their best QB since Marino retired want to send their own message they're not just the Wildcat but this is a real team and now with a real offense. This may not be the game of the week but everyone has something to prove. Let's hope it's unseasonably warm in Miami on Sunday and the cold front is long gone DOLPHINS over SAINTS Arizona Cardinals at New York Giants Is Arizona quietly having the most underwhelming season of any defending conference champion ever? Probably not, but they have to be considered the most difficult to notice 3-2 team in the league right now. All that and they have face a team that just came off a crushing loss that knocked them down a peg on the NFC totempole. GIANTS over CARDINALS Minnesota Vikings a t Pittsburgh Steelers The Vikings are approaching the “team of destiny label,” with two last second wins under their belts just six weeks into the season. That being said, does Adri-a n Peterson really need destiny on his side? He already has VIKINGS over STEELERS Buffalo Bills at Carolina Panthers R emember when Terell Owens was relevant? Remember when the Panthers threw to Steve Smith? Remember when Jake Delhomme was a Pro-Bowl quarterback? Remember when Buffalo almost beat the Patriots in week one and everyone scrambled toc laim them as the number one “sleeper”? P ANTHERS over BILLS G reen Bay Packers a t Cleveland Browns When the best player on your team is your kick returner, you trade away your two best receivers and you wear Brown pants, the probability of a successful season is eerily slim. PACKERS over BROWNS Indianapolis Colts at St. Louis The good thing about the Rush Limbaugh story is that it gave the Rams at least minimal relevance. Witht hat gone, what are we supposed to discuss about the R ams? Donnie Avery’s emergence as the worst num ber one receiver in the league? How long will StephenJ ackson keep his dreadlocks? Should they move back to Los Angeles? COLTS over RAMS San Francisco 49ers at Houston Texans Michael Crabtree is finally playing! Effect it’ll have on coverage of the game 10-10...effect he’ll have on the game 0-10. TEXANS over 49ERS Chicago Bears at Cincinnati Bengals Everyone loves the revenge game. In this case t hough, the revenge should come from the Bears d efence. They picked Cedric Benson fourth, they b elieved in him so much that they released Thomas Jones...and he bombed. Two years later the Bears gave up on Benson and he latches onto the Bengals only to finally show flashes of what they thought he could become. My only regret is that Brian Urlacher won’t be there to hit him in a real game situation. BEARS over BENGALS Be afraid of Tom Brady, be very afraid IN THIS PHOTO taken on Sunday, Oct. 18, 2009, New England Patriots quarterback Tom Brady runs up the field during an NFL football game against the Tennessee Titans in Foxborough, Mass. After playing inconsistently in the Patriots first five games, Brady threw six touchdown passes in a team-record 619 yard attack in a 59-0 win over the Tennessee Titans. S t e v e n S e n n e / A P P h o t o

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C M Y K C M Y K FRIDAY,OCTOBER 23, 2009 THETRIBUNE PAGE 11 P AGE 9 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM E N T E R T O W I N T O D A Y !B U Y A N Y P C M E A L O R M O R E T O R E C E I V E Y O U R S C R A T C H & W I N G A M E C A R D PROM O TION U N S O C T T H T H R U N O V T H EVERYONE IS A WINNER!Plusentertowin 1of3GrandPrizesEVERYONE IS A WINNER!Plusentertowin 1of3GrandPrizes NASSAUWE ACCEPT: Wallace helps Celtics beat Shaq and Cavaliers... See page 9 A fter a day long delay due to strong winds, competitors took to the water once again in Montagu Bay to resume action in the 2009 Sunfish World Champi onships. David Loring of the United States strengthened his first place advantage with a productive outing which included a second and fourth place fin ish. Loring overcame a 20% penalty in race seven, which dropped him to a fifteenth place finish, however still leads the field with 21.6 netp oints. The remainder of the top five remained virtually unchanged following day four of competition. Marx Chirinos of Venezuela remains in secondp lace with 23 net points. C hirnos suffered a similar 20% penalty in race six for a 15th place finish, however, rebounded to finish third in race seven and sixth in race eight. American teammates PaulJon Patin and David Mendelblatt are in third and fourth positions respectively. Patin who began the regat ta with the first race win, finished fourth, 14th and fifth yesterday for 26 net points, while Mendelblatt delivered the most noteworthy performance of the day. After a 20th place finish due to a penalization, he returned to win the final two contests of the day to move into fourth place with 29 net points. Peter Stanton of the U.S Virgin Islands rounds out the top five with 32 net points. S tanton took first place in the opening race of the morning and followed up with fifth and second place finishes thereafter. Donald Martinborough remains the top placed Bahamian competitor in the field in 16th position with 129 net points. Martinborough enjoyed his best finish of the event thus far with an 11th place finish in race eight. Charles Kelly dropped four sports to 24th position with a net score of 173 points. Fernando De Cardenas improved five positions to move into 28th. He recorded the best finish of any Bahamian sailor in the field with a ninth place effort in race seven. Christopher Sands fell to 34th with 219 net points, Gavin McKinney is 36th with 224, Andrew Wilhoyte is 37th with 225, Jeffrey Gale is 39th with 227, Peter-Bruce Wassitsch is 41st with 253, James Lowe 42nd (269 Damianos 45th (304 O’Brien 47th (311 Brown 49th (315 Holowesko 50th (319 Dwayne Wallas 58th (369 Lori Lowe 64th (419 Burrows 65th (434 Today marks the final day of competition in the Sunfish World Championships with the final awards ceremony tomorrow night at the Nassau Yacht Club. Martinborough still heads Bahamian field 2009 SUNFISH WORLD CHAMPIONSHIPS spor ts NOTES VOLLEYBALL During Wednesday evening’s volleyball matches over at the D W Davis gymnasium, the C.O.B. Lady Caribs would come out to win the first set over the Johnson Lady Truckers 25-23, but Anastasia Sands-Moultrie took charge of the next three sets leading the Lady Truckers 25-15, 25-10 and 25-10 to win the match. Sands-Moultrie finished with a game high 16 points for the winning Lady Truckers. Kenisha Thompson led the Lady Caribs with 10 points. In men's action the National fence Intruders, led behind Glen Rolle's 13 points, defeated the Champions Club in 4 sets, 25-20, 25-17, 17-25 and 25-22. Muller petit would lead all scorers in a losing effort with 18 points. Games continue today over at the D W Davis gymnasium. BASEBALL The 2009/2010 Youth Baseball Season got under way on Long Island – Saturday October 17, 2009. The President & his Executive Team would like to con gratulate the (Long Island Baseball League Executive Team on a successful OPENING and for successfully rejuvenating the baseball program on Long Island. President Dan Weightman & Team has done a tremendous job and by the Island wide support today, they are off to a GREAT start. In attendance was BBF President Craig Kemp who gave the Opening Address and Secretary General Theodore Sweeting. JBLN Coach Pastor Ken Adderley(Former Professional Baseball Player) took a break from his visiting Pastoral duties to take in the two opening games. THESE PICTURES (above and below day one at Montagu Bay. Sailors took to waters yesterday after heavy winds prevented competition for a day. America’s David Loring strengthens top place PHOTOS: Robert Dunkley

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“Firstly I think anyone w ho stood for election had to prepare themselves for some kind of loss and event hough there’ll be bitter disa ppointments on the part of those who lost, it is for me to one, congratulate all oft hose who won and also those who lost. “Because we came together to contest offices as members of the Progressive Liberal Party and we knew in doing so that some would win ands ome would lose. And we know that the purpose of a political organisation is not to have wonderful fights within b ut to really prepare ourselves for the major fight and that is showing that we are a v iable and good alternative to the FNM and that people will have a real choice tom ake in the next election and w hen they have that choice they will choose the PLP,” he said. G raciously accepting his defeat, Dr Nottage said that he and his team presented the P LP with the reasons why they thought there ought to be change in the party. J udgment “The PLP have made their judgment and they have decided that they want to continue with what we have been doing and I respect that. I came here now because I want to see the leader and congratulate him and his team but more importantly I want to reassure the people who are members of the PLP that I am a PLP, I’m not going anywhere; I’m going to con tinue to work and support the PLP,” Dr Nottage said. Noting that there has been allegations of improprieties with the election process conducted yesterday, Dr Nottage said that his team would review these issues and see to the extent it will be “constructive” for them to make any formal protests or carry the matter “further”. “But for now I want those who have won to bask in their victory and enjoy it,” he said. Dr Nottage also opted not to respond to the question as to whether or not he will once again challenge for the leadership of the party. “The only thing I can assure you is that I am going nowhere.” T he third challenger, Mr Moss also expressed his con cern about the alleged “inappropriate” conduct and alle g ations of vote buying and intimidation that have emerged. Despite these r eports, Mr Moss still con gratulated Mr Christie on his victory. This campaign has been o ne to demonstrate that we believe we can do better and we still believe we can do bet t er. When you look at the youth in our campaign and the fact that we have been a ble to bring excitement to this place, even inspire people to believe that they can doc ertain things, we know that our campaign has been a success,” he said. Mr Moss did however cau tion the party that the PLP currently has at its convention, stalwart councillors whoo utnumber elected delegates three to one, who are 65 and over and not reflective of the country’s growing demo graphic. “If this party is to be successful it ought to recognise that and change it because what we saw here today is an outpouring of senior citizens who came in to vote and it is not reflective of the general make up of those voters who are elected delegates,” he said. Mr Christie said that the party will be holding another convention before the next general election, and if he is contested again, he will again defend himself. But he remains confident that even if such a contest were to again arise he will be leading the party into the next general election. “To those who have disagreed with me, they’ve had an opportunity to express their disagreement and the people at the convention have now provided the ultimate answer that they support mea nd let’s get on with the business of being a viable strong, dynamic, political organisation,” he said. Statement In a statement released late last night the FNM claimed the re-election of Perry Christie as Leader of the Pro gressive Liberal Party is a vic t ory for the old guard of the party and a blow to any serious reform by those who rep resent the worst days of the P indling era and the more r ecent scandalous past of the party, among them a number of Mr Christie’s cabinet appointees. "The old guard further entrenched itself and turned its back on reform and renewal by also electing Bradley Roberts as Chairman, another symbol of some of the excesses of the party and one who is regarded as a political character assassin by many," the governing party said. The FNM said that not only is any reform of the PLP highly unlikely, “Mr. Christie and his supporters have made the party even more undemocra tic by undercutting the power of the branches in favour of Stalwart Councillors who now make up some two-thirds of the voting power of the party at convention”. "The future of the oncemighty PLP is bleak indeed since Mr. Christie knows that most of his parliamentary col leagues have no confidence in him and he has threatened that there will be ‘conse quences’ for them. Some may find their continued presence in the PLP very uncomfort able if not untenable," the party said. C M Y K C M Y K LOCAL NEWS PAGE 12, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM H1N1 AKA SWINE FLU PROTECT YOUR HOME & FACILITY HAND WASHING & CLEANING IS EVERYTHING WE HAVE A DIVERSE SELECTION OF HAND SOAPS, D ISPENSERS & DISINFECTANTS L IQUIDS – FOAM AEROSALS REMEMBER HYGIENE ROUTINES CAN HELP P ROTECT AGAINST INFLUENZA A W ASH HANDS D ISINFECT SURFACES #32 Chesapeake & Carib Roads (pf v.interchem@batelnet.bs m.interchem@batelnet.bs NOT CREATING COMPETITION.......JUST BETTER CHOICES Distributed by: FOUR J’S ENTERPRISE 242-394-8626 Email:fourjsenterprise@yahoo.com or chop online at www.shopbvm.com NOT CREATING COMPETITION.......JUST BETTER CHOICES Distributed by: FOUR J’S ENTERPRISE 242-394-8626 Email:fourjsenterprise@yahoo.com or chop online at www.shopbvm.com omy. They are at it again in their convention,” the statement said. “The extent of their desperation is clear, considering the indisputable fact that the eco nomic crisis enveloping the Bahamas and much of the world is due not to any local causes but to external forces beyond anyone’s control. “The FNM government has buffered the effects of the crisis by accelerating public works including road building, the massive port project, the new airport terminal project, clean-up and beautification campaigns and the creation of more recreation spaces for the Bahamian people, especially seaside vistas and spaces.” The statement went on to note that the gov ernment also launched a multi-faceted nation al social programme to alleviate the pain of unemployed Bahamians and to help prepare for the future. “The centrepiece of this initiative was the launching for the first time in Bahamian history of an unemployment benefit scheme. When it was announced, the PLP was so taken aback that they only mutter baseless criticisms such as suggesting that it might not be legal,” the statement noted. It listed other elements of the “FNM social response to the crisis” as: temporary job pro grammes, a national training programme and electricity assistance for thousands of distressed Bahamians. “All this was made possible because of the solid economic and fiscal performance of the FNM in its first two terms in office after clean ing up the mess left by the PLP government,” the governing party said. Perry Christie stays PLP leader FROM page one A TRIUMPHANT P erry Christie at last night’s PLP convention. FROM page one FNM hits back at PLP over economy

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C M Y K C M Y K SECTIONB business@tribunemedia.net FRIDAY, OCTOBER 23, 2009 THETRIBUNE By NEIL HARTNELL Tribune Business Editor T he Bahamas could suffer an immediate sovereign credit rating downgrade “into the Baa category” if it immediately fails to reduce its national debt-to-GDP ratio once the recession is over, a Wall Street agency warned yesterday, as it questioned whether the Government’s ‘no new or increased taxes’ approach was “sustainable over the long term”. Although the Bahamas’ worsening fiscal ratios would “not yet” result in a downgrade to its sovereign debt creditworthiness, Moody’s also warned that this nation needed to raise longterm growth rates by “reversing” a weakening tourism performance, while the 2009-2010 fiscal deficit was likely to be higher than the forecast 3.9 per cent. “Despite the relatively high level of economic development, long-term concerns about the economy persist,” Moody’s said of the Bahamas. “In the last 10 years, median growth for the Bahamas was 1.7 per cent, well below the median growth rate of 4 per cent for A-rated countries........ “Raising long-term growth rates requires a reversal of the weak performance of the tourist sector and strengthening the regulation of the financial sector. Tourist arrivals have been falling since 2005, predating the current crisis. In 2008, total arrivals were the lowest in a decade, and data for the first half of 2010 will be worse.” Further rating downgrade fear * Moody’s warns Bahamas must reduce debt-to-GDP ratio immediately ‘as soon as crisis is over’, or otherwise sovereign could fall into ‘Baa category’ * Wall Street agency questions sustainability of government’s ‘no new or increased taxes’ position, warning narrow base could hamper debt reduction efforts * Projects ‘higher shortfall’ in fiscal deficit than 3.9% projection for 2009-2010 * Warns that ‘long-term concerns about the economy persist’, and growth rates needed to be raised S S E E E E p p a a g g e e 4 4 B B By NEIL HARTNELL Tribune Business Editor CITY Markets’ majority shareholder has closed the transaction to complete the supermarket chain’s $5 mil lion refinancing, Tribune Business can reveal, with Exchange Control approval having finally been received late last week. Multiple sources familiar with developments confirmed to this newspaper yesterday that investors in BSL Holdings, the private equity consortium that holds a 78 per cent stake in City Markets’ holding company, Bahamas Supermarkets, had complet ed the transaction to refinance both itself and the operating company after final approvals were received from the Central Bank of the Bahamas. Sunil Chatrani, Bahamas Supermarkets’ head, declined to comment when contacted by Tribune Business yesterday, but this newspaper now understands that BSL Hold ings is finally in position to provide the long-awaited financial assistance to publicly-traded Bahamas Supermarkets. Apart from releasing the additional equity capital injections they had previously committed to, Tribune Busi ness also understands that BSL Holdings’ investors completed negotiations on their existing loan and credit facilities with Royal Bank of Canada. Royal Bank had lent the group $24 million in 2006 to help part-finance the acquisition of the 78 per cent Bahamas Supermarkets stake from Winn-Dixie. Meanwhile, Tribune Business also understands that as part of the refinancing, Trinidadian conglomerate Neal & Massey is now in effective majority control of BSL Holdings something this newspaper had previously anticipated, due to the need for exchange control approval from the Central Bank. Neal & Massey will now be able to combine its previous acquisition of Barbados Ship ping & Trading, the company that acted as City Markets’ managing partner in the immediate aftermath of the Winn-Dixie buyout, with con trol at BSL Holdings to have a much greater say in the 11strong supermarket chain’s affairs. It is likely that the Trinida dian conglomerate will take an even greater interest in Bahamas Supermarkets’ performance now, treating it akin to a subsidiary. Indeed, Neal & Massey’s move into a controlling position at BSL Hold ings and, by extension, Bahamas Supermarkets, will come as no surprise to most observers, many having believed the original transaction was structured to pro duce such an outcome. However, no information has been forthcoming as to whether Bahamas Supermarkets’ Board of Directors has signed off on the company’s long awaited 2008 audit some 16 months after that period closed and when the annual general meeting (AGM held. City Markets, its operating parent and BSL Holdings have come in for heavy criticism from minority shareholders who collectively hold 22 per cent of Bahamas Supermarkets, investor value having been massively eroded as a result of the $13.429 mil lion net loss projected by management accounts for 2008 something that plunged the company into negative equity. More than 15 months after the 2008 year-end, Bahamas Supermarkets' external audi tor, KPMG, has yet to sign off on the audited accounts, a timeline well outside the 120day filing period stipulated for public companies. Many have argued that this saga has undermined the integrity of the Bahamian capital markets. The 2008 audit sign-off had previously been contingent on City Markets' receipt of financing from BSL Holdings, which would have avoided the accounts being qualified as a 'going concern'. But in a previous interview, Mr Chatrani said: “"We're rushing to have the audit complete with or without the financing. It's so old, we want to get it behind us, with or without the opinion, so we can move on to the 2009 audit. We want to get it completed. "We had the final [audit] draft today for review. We have the opinion in hand, and should be approving that some time next week. The City Markets refinancing deal closed Trinidadian conglomerate said to be in majority control at supermarket chain’s majority shareholder $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$4.29 $4.29 $4.29The information c ontained is from a third party and The Tribune can not be h eld responsible for errors and/or omission from the daily report. $4.09 $3.88 $4.00 S S E E E E p p a a g g e e 2 2 B B By NEIL HARTNELL Tribune Business Editor THE Government has granted the 30-year lease extension sought by the Norwegian-headquartered buyer of a Grand Bahama-based oil storage terminal, allowing that $258.249 million transaction to close yesterday. Joy Jibrilu, director of investments in the Office of the Prime Minister, confirmed that the Government had agreed to Statoil Hydro’s request for a 30-year extension of the lease on the South Riding Point terminal. With 10 years on the existing lease still to run, Statoil now has security of tenure at South Riding Point until 2049. “There were 10 years remaining on the lease with World Point Terminals,” Ms Jibrilu confirmed to Tribune Business, “and then a 30-year extension. Given their capital and their investment, a 30year extension is what they requested.” Statoil had previously told Tribune Business it wanted a lengthy lease to ensure it generated the appropriate return on its investment. Ms Jibrilu also confirmed yesterday that Statoil’s proposal, which was submitted to the Government to facilitate approval of its purchase, called for a $100 million to $150 million investment in South Riding Point to upgrade the existing facilities, expand the tank storage capacity and address any environmental concerns. “That continues to be the case,” the Bahamas Investment Authority’s head confirmed in regard to Statoil’s proposed $100 million to $150 million investment at South Riding Point. “That is what they advised the Government in their pro posal, for they will be using it for the transhipment of crude oil from Brazil and Latin America into North America. “They’re going to do reme dial work and an environmental clean-up of what’s there, so that’s a part of their work, to upgrade and increase capacity,” she said. “That seems to be the main focus. They [Statoil] seem to be a wonderful corporate partner. They have a very good track record.” Canadian-based World Point Terminals confirmed that its wholly-owned subsidiary, Old South Riding Lease extension granted to close $258m purchase * Statoil gets 30-year South Riding Point extension through to 2049, as its closes oil storage terminal buy * Norwegian firm planning to invest $100m-$150m to upgrade facilities By NEIL HARTNELL Tribune Business Editor THE 2009 Christmas holi day season will be “flat compared to last year or slightly behind” for the Bahamian hotel industry generally, the Bahamas Hotel Association’s (BHA yesterday, indicating that many resorts were sacrificing margins and room rates to maintain occupancy levels. Robert Sands, who is also Baha Mar’s senior vice-president for governmental and public affairs, told Tribune Business that “bookings are still soft and challenging”, with the booking window “not more than three weeks” before tourists actually arrived in the Bahamas making it very difficult for the hotel industry to predict for ward-looking trends. Pointing out that it was the New Year period, rather than the Christmas season, which provided resorts with the bulk of their festive business espe cially those properties with casinos Mr Sands said: “We will probably not see much difference from what occurred last year, and in some instances properties will have slightly less, and in oth ers slightly more. “We see the Christmas sea son being flat to last year or slightly behind. I would say business for Christmas this year will be relatively flat to last year. The difficulty is not so much occupancy, but it has a lot to do with the yield, the rates.” Going into 2010, Mr Sands said the BHA was planningt o advocate on a number of Hotels anticipate ‘flat to slightly off’ Christmas season S ANDS S S E E E E p p a a g g e e 3 3 B B S S E E E E p p a a g g e e 6 6 B B

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C M Y K C M Y K INTERNATIONAL BUSINESS PAGE 2B, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .711.03AML Foods Limited1.171.170.000.1270.0009.20.00% 11.809.90Bahamas Property Fund10.7510.750.000.9920.20010.81.86% 9.305.90Bank of Bahamas5.905.900.000.2440.26024.24.41% 0.890.63Benchmark0.630.630.00-0.8770.000N/M0.00% 3.493.15Bahamas Waste3.153.150.000.1250.09025.22.86% 2.372.14Fidelity Bank2.372.370.000.0550.04043.11.69% 14.209.93Cable Bahamas9.939.930.001.4060.2507.12.52% 2.882.72Colina Holdings2.722.720.002390.2490.04010.91.47% 7.505.26Commonwealth Bank (S1)5.835.74-0.092,5000.4190.30013.75.23% 3 .851.27Consolidated Water BDRs3.013.040.030.1110.05227.41.71% 2 .851.32Doctor's Hospital2.052.250.2012,0000.6250.0803.63.56% 8.206.28Famguard6.506.500.000.4200.24015.53.69% 1 2.508.80Finco9.309.300.000.3220.52028.95.59% 1 1.7110.00FirstCaribbean Bank10.0010.000.000.6310.35015.83.50% 5 .534.11Focol (S)4.114.110.000.3320.15012.43.65% 1 .001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 0 .450.27Freeport Concrete0.270.270.000.0350.0007.70.00% 9.025.49ICD Utilities5.595.590.000.4070.50013.78.94% 12.009.95J. S. Johnson9.959.950.000.9520.64010.56.43% 1 0.0010.00Premier Real Estate10.0010.000.000.1560.00064.10.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 1 000.001000.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 1000.001000.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1000.001000.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1000.001000.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 5 2wk-Hi52wk-LowSymbolBid $ A sk $Last PriceWeekly Vol.EPS $Div $P/EYield 1460 792 BahamasSupermarkets 792 842 1400 2246 0000 N/M 000% THURSDAY, 22 OCTOBER 2009BISX ALL SHARE INDEX: CLOSE 1,489.00 | CHG -3.49 | %CHG -0.23 | YTD -223.36 | YTD % -13.04BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing bases)Maturity 19 October 2017 7 % P rime + 1.75% Prime + 1.75% 7 %BISX LISTED & TRADED SECURITIES AS OF: Fidelity Over-The-Counter Securities3 0 May 2013 29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 InterestFINDEX: CLOSE 789.77 | YTD -5.40% | 2008 -12.31% 14 . 60 7 . 92 Bahamas Supermarkets 7 . 92 8 . 42 14 . 00 2 . 246 0 . 000 N/M 0 . 00% 8.006.00Caribbean Crossings (Pref2.006.254.000.0000.480N/M7.80% 0 .540.20RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 MonthsDiv $Yield % 1.40381.3344CFAL Bond Fund1.40383.725.20 3.03502.8952CFAL MSI Preferred Fund2.8300-3.75-6.75 1.49541.4217CFAL Money Market Fund1.49544.305.18 3.60903.0941Fidelity Bahamas G & I Fund3.0941-8.61-13.59 1 3.175112.3870Fidelity Prime Income Fund13.17514.425.86 1 03.0956100.0000CFAL Global Bond Fund103.09563.102.52 100.000099.4177CFAL Global Equity Fund99.41773.122.76 1.00001.0000CFAL High Grade Bond Fund1.00000.000.001 0.58849.0775Fidelity International Investment Fund10.58845.885.88 1.07571.0000FG Financial Preferred Income Fund1.07573.865.30 1.03641.0000FG Financial Growth Fund1.0305-0.240.22 1.07091.0000FG Financial Diversified Fund1.07093.244.54 BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Sep-09 30-Sep-09 30-Sep-09 30-Sep-09 NAV Date 30-Sep-09Colina Over-The-Counter Securities BISX Listed Mutual FundsTO TRADE CALL: COLINA 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Aug-09 30-Sep-09 31-Dec-07 30-Sep-09 30-Sep-09 16-Oct-09 31-Aug-09M ARKET TERMS By HARRY R WEBER AP Airlines Writer ATLANTA (AP recession has put the major US airlines into two camps the profitable ones that have low costs and a domestic focus, and the moneylosing ones with higher e xpenses and big networks that are under global pressure. T hat stark contrast played out again Thursday as Alaska Air Group Inc. and JetBlue Airways Corp. said they were in the black in the third quarter and Delta Air Lines Inc. and US Airways Group Inc. remained in the red. Passengers can expect more fare sales, but ticket prices will creep up at times and will be more expensive during the holidays. Those annoying add-on fees won’t be going away either. The airlines know passengers aren’t eager to open their wallets. Customers “continue to be under pressure budgetary pressure and pressure on the economic front,” Delta President Ed Bastian said during a conference call with analysts and reporters. The July-September quar ter includes part of the tra ditionally busy summer season, but major airlines were hit hard this year by weak overall demand for air trav el, especially for business and international travel. Capacity has been shed, jobs have been cut and other operational changes have been made, including efforts to preserve cash. Volume and revenue from corporate customers remain down for several airlines, but the margins have been improving in recent months. T ravelers L eisure travelers are starting to take to the air again, but they are paying smaller average fares, hitting the airlines’ bottom line. US Airways, based in Tempe, Ariz., blamed its revenue drop on the combination of less flying, “aggressive industrywide fare sales, and the reduction in business demand.” US Airways lost $80 million in the quarter as rev enue fell 16.6 per cent from the same period last year, to $2.72 billion. It ended the quarter with $1.5 billion in unrestricted cash. Delta, based in Atlanta, lost twice as much in the quarter $161 million, compared to a loss of $50 million a year ago. Its revenue, if its Northwest Airlines subsidiary was included in the 2008 figure, fell 21 per cent on a combined basis year-over-year. Delta ended the quarter with $5.8 billion in unrestricted liquidity, including $5.5 billion in cash, cash equivalents and short-term investments and $300 million available in a revolving credit line. S ide On the flip side, improvements it has made in ontime performance and being insulated from the slump in international travel helped Alaska Air post a profit for the third quarter. The Seattle operator of Alaska Airlines and Horizon Airr ecorded an $87.6 million third-quarter profit, compared to a net loss of $86.5 m illion a year ago. Revenue fell nine per cent to $967.4 million from $1.07 billion a year ago. JetBlue, based in New York, earned $15 million in the third quarter, compared with a loss of $8 million a year ago. Revenue fell 5.3 per cent to $854 million. The big carriers aren’t in a hurry to grow with the e conomy in the early stages of a recovery. They want to be careful not to do more f lying than passengers are willing to pay for. By keeping capacity in check, they believe they will be able to charge more for tickets. Delta plans to cut system capacity three per cent next year. At least one low-cost carrier that posted a profit this week AirTran Airways actually plans to add capacity next year, in the range of two per cent to four per cent. JetBlue CEO Dave Barger said his airline is still a growth company. “We have a considerable number of (aircraft order book, and I think we’re looking forward to deploying them, you know, playing some offense in the not too distance future,” he said. But don’t expect checked bag fees and other fees to go away. JetBlue said Thursday it won’t rule out charging for a first checked bag. In Thursday trading, Alaska Air shares fell 84 cents, or three per cent, to close at $26.76, JetBlue shares lost 13 cents, or 2.3 per cent, to $5.61, Delta shares lost one cent at $8.32 and US Airways shares also dropped a penny to $3.86. Airlines tell a tale of two camps profit versus loss City Mar k ets refinancing Board will approve it, and we will call the annual general meeting (AGM Mr Chatrani said Bahamas Supermarkets was "aiming for the end of the month" of October a date now unlikely for the AGM date, pointing out that shareholders had to be given 21 days' notice. Mr Chatrani also confirmed that City Markets had received $1 million of the $5 million in new equity capital to be injected by its 78 per cent majority shareholder, the remainder awaiting that exchange control approval.

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Oil slips below $81 a barrel, retreating from high C M Y K C M Y K BUSINESS THE TRIBUNE FRIDAY, OCTOBER 23, 2009, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ALEX KENNEDY Associated Press Writer SINGAPORE (AP prices slipped below $81 a barrel Thursday, retreating from a 2009 high, as a wobblyUS dollar steadied in Asian trading. Benchmark crude for December delivery fell 90 cents to $80.48 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.25 to settle at $81.37 on Wednesday as the dollar fell to its lowest since August 2008. Crude is traded using dollars, so it gets cheaper when the US currency falls. The euro fell to $1.4959 on Thursday from 1.4999 the previous day and the dollar rose to 91.46 yen from 91.00. T raders also eyed a smaller t han expected rise in US c rude supply data from the Energy Information Administration on Wednesday. Inventories rose 1.3 million barrels while analysts had expected a rise of 2.2 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos. The two-week surge in the oil price has raised the specter that a jump in energy costs would fuel inflation and lead policymakers to ease stimulus spending and raise interest rates, undermining a nascent global economic recovery. “It’s definitely a potential threat,” said David Cohen, director of Asian economic forecasting for consultancy Action Economics. “Every body gets a little nervous when the oil price starts bouncing higher.” Energy Secretary Steven Chu said earlier this week that crude prices at $80 per barrel are worrisome. Stock markets, which have soared since March, could see gains reversed if oil and other commodities continue to rally, Cohen said. “The recovery is not so fragile that it can’t tolerate another dollar or two in the oil price,” Cohen said. “But when people start getting worried about inflation, that could be a drag on markets.” In other Nymex trading, heating oil fell 1.49 cents to $2.09 a gallon. Gasoline for November delivery dropped 1.65 cents to $2.04 a gallon. Natural gas for November delivery rose 2.6 cents to $5.13 per 1,000 cubic feet. In London, Brent crude for December delivery fell 81 cents to $78.88 on the ICE Futures exchange. INSIGHT For the stories behind the news, read Insight on Mondays Hotels anticipate ‘flat to slightly off’ Christmas season i ssues on behalf of its members, “paramount, number one” among them being to “work on cost reduction”. Following that was the need to “put in place regulations on gaming to help increase the sales focus in the marketplace”, workforce training and development, and working on new initiatives and with outside partners to increase tourist flows to Bahamian resort properties. The latter, the BHA president added, would generate “con sistent revenue streams” to ensure “all properties become profitable”. Mr Sands told Tribune Business that the BHA was still waiting to hear from Vincent Vanderpool-Wallace, minister of tourism and aviation, on what form reform to the Bahamas’ gaming laws and regulations would actually take. “It’s a bit more than just reform,” Mr Sands said of what Bahamian resorts and casinos wanted to see. “It’s improving regulations to make us much more competitive as a country. “It’s very important for two reasons. The proliferation of gaming close to the Bahamas, Florida in particular, and having a major competitive edge over the Bahamas makes it very difficult for us, in this very depressed environment, to be competitive. “From a gaming regulatory perspective, if we stand on a level playing field, entities here will have a better opportunity to compete for gaming customers in the world marketplace.” Focusing on Florida, Mr Sands added: “They have advantages in a significant number of areas the types of game offered, the ability to be flexible, the ability to move quickly.” Proposals to address these issues and a number of other areas had been included in the BHA’s submissions to the Government on the gaming issue. By NEIL HARTNELL Tribune Business Editor THE Bahamas Chamber of Commerce’s president yesterday said the recession and economic crisis was “a God send” from the perspective of shaking Bahamians businesses out of their complacency, and forcing them to focus on efficiency, productivity and the long-term sustainability of their business models. Acknowledging that some would think he was “off my rocker”, Khaalis Rolle told Tribune Business that both the private and public sectors needed to use the downturn to better-plan their long-term futures, and ensure that they were better prepared to withstand future downturns whenever they arose. “I would say, and some people may think I’m off my rocker, that this crisis is a God Send,” Mr Rolle told Tribune Business. “We’ve enjoyed a robust economy for so long that many of us got comfortable. We operated at the status quo level, and there was no real need to work hard to develop efficiency and sustainable models. “This is now forcing us to be more competitive and look at everything. During these times, we really need to use these opportunities to plan better. “Unfortunately, we haven’t seen a lot of major structural reforms, because we’ve been in the initial part of the response period when we’ve been trying to stem the bleeding more than anything else, from both the private and public sector standpoint.” Mr Rolle added: “The response was to stimulate the economy, restart it, and the Government did so with the capital works projects. The next phase is to develop a r esponse mechanism, a move t o refocus that allows us to be i n a better position to withstand any downturn over the horizon.” The Chamber chief said he believed the Bahamas was faring “better than most economies, but is still taking a beating”. He added that discussions at an Inter-American Development Bank (IDB last week had focused on the s ustainability of business m odels going forward, and the need to mitigate against future recessions. “I think we’re doing pretty well, relatively speaking,” Mr Rolle told Tribune Business. “It is what it is, and unfortunately businesses are not making the types of revenues they were making two years ago, or even one year ago. “But a lot of businesses have found a way to respond to it, whether it’s looking at the cost base and reducing costs in response to a reduction in revenues. “There is one company I spoke to, and some of the measures they are employing are so drastic as to reduce expenditure on personal items, and staff bringing in their own cups. They’ve gone to lower cost items.” The Chamber president added: “One of the things the economic crisis has forced us to do is to rethink how we do business. Rethink our entire approach and operate at a level that’s optimal in terms of revenues generated and e xpenditure.” M r Rolle warned, though, t hat it was likely to be “anywhere from 18 to 24 months” before the Bahamian economy experienced a sustained turnaround. While the economy may have already hit bottom, “we’re now in a state of what to do next”. The rising unemployment rate was not necessarily a true indicator of where the economy was, Mr Rolle said, pointing out that as part of doing “more with less”, some businesses that had experienced efficiency/productivity gains after releasing staff may not hire those positions back. This, he added, could result in relatively high unemployment persisting past a recovery “until we create new businesses and new opportunities”. “Unemployment is just a lagging indicator of where we are,” the Chamber president said, arguing that “we’re at the end of the technical recession” thanks to the Obama a dministration’s stimulus p ackage. H e added that foreign direct investment was unlikely to return to pre-2006 levels for another five to 10 years. Recession is ‘a God send’ KHAALIS ROLLE

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Effectively, the Moody’s report said that while the rating agency was placing great faith in the Bahamas’ tradition of macroeconomic and fiscal prudence to turn around the worsening fiscal position, rapid and decisive action was required to ‘put the house in order’ and turn the nation around once the recession was over. “The Government has announced its intention of reducing debt as soon as the crisis is over, and given the Bahamas’ strong institutional history we believe that is likely. Failure to do so would likely result in a negative rating action,” Moody’s country analysis, a copy of which has been obtained by Tribune Business, warned. “The 2009-2010 Budget forecasts a 3.9 per cent of GDP deficit, but a higher shortfall is likely given the severity of the crisis. Government borrowing is pushing debt higher, and by 2010 it will be closer to 50 per cent of GDP, among the highest in the A [rating] category.” Some 8 per cent of that 50, Moody’s pointed out, was held by the National Insurance Board (NIB nation’s social security programme. This, and the high percentage of national debt held by Bahamas-based investors such as banks and public sector institutions, gave the Government some fiscal flexibility. But the Wall Street rating agency then warned that the Bahamas’ relatively narrow tax base, and low per annum tax revenue intake as a percentage of GDP, would impact this nation’s ability to finance the rapid repayment of debt once the current recession ended. With government revenues as a percentage of GDP among the lowest in the Caribbean, Moody’s warned: “This presents a challenge when, as now, debt levels rise, since they must be paid from a relatively smaller base than in other nations. Revenues “The Government expects that revenues will increase as a percentage of GDP as the economy recovers and they improve tax collection, but has so far refused any increases in tax rates or the introduction of new taxes. “While the Government has ample short and mediumterm flexibility, it remains an open question if this approach is sustainable over the longterm, particularly given the increase in recent years in overall expenditure. Total expenditures averaged 21.6 per cent of GDP in the last four years, compared to 18.5 per cent in the previous four.” The Government’s 20092010 Budgetary financing needs, estimated at about 6.5 per cent of GDP to cover the anticipated fiscal deficit plus amortisations, were not viewed as a problem by Moody’s given the likely appetite of the NIB, Bahamian banks and public corporations for government debt. The Bahamas Telecommunications Company (BTC vatisation was also expected to help in this regard. “At an estimated 13 per cent in 2009, the ratio of external debt to GDP is among the lowest in its broad peer group and well-below the median of 41 per cent for A-rated countries,” Moody’s report added. And while persistent fiscal deficits would push the Bahamas’ national debt-toGDP ratio close to 50 per cent, higher than many similarly rated countries, Moody’s said the time was “not yet” for a further downgrade of this nation’s sovereign credit rating. “While we are concerned with the increase in the country’s debt burden, its history of sensible fiscal management and strong policy consensus support the Government’s view that debt numbers will start trending down once the worst of the crisis is over. “But if the increase in debt numbers remains unchecked, it will place strong downwards pressure on the current ratings, and could lead to a change in outlook and ultimate downgrade into the Baa category.” Nevertheless, Moody’s said the Bahamas was “well-positioned to manage the crisis without permanently weakening its creditworthiness”, even though the Internation al Monetary Fund (IMF projected this nation could suffer “three years of nega tive growth” from 2008-2010. Yet the persistent reliance on the US remained a key weakness, and GDP per capita was forecast to decline from $22,560 in 2008 to $21,926 in 2009 and $21,871 in 2010. Turning to monetary matters, Moody’s said the exchange rate peg to the US dollar had largely helped to contain inflation. And the Bahamas’ structural trade and current account deficits fluctuated between 5 per cent and 20 per cent of GDP, depending on the flow of tourismrelated imports and foreign direct investment-financed construction materials. “This year, the current account deficit will be around 10 per cent of GDP, below the 13 per cent and 18 per cent posted in 2008 and 2007, respectively,” Moody’s said. “On nominal terms, the current account deficit will shrink to an estimated $0.8 billion from $1.2 billion in 2008, and $1.3 billion in 2007. Tourism “The decline in tourism receipts will be more than compensated by a decline in imports growth, a reflection of lower domestic demand growth and lower oil imports. Last year, oil imports amounted to close to 30 per cent of GDP, more than three times the 2004 levels.” Moody’s added that foreign direct investment in the Bahamas traditionally accounted for 9 per cent of GDP and 86 per cent of the current account deficit over the past five years. “This year, foreign direct investment in nominal terms and as a share of GDP is like ly to decline as several important projects have been temporarily suspended,” the Wall Street credit rating agency added. “We expect foreign direct investment will continue to finance about two-thirds of the current account deficit going forward.” C M Y K C M Y K BUSINESS PAGE 4B, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Further rating downgrade fear F F R R O O M M p p a a g g e e 1 1 B B

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By JEREMIAH MARQUEZ AP Business Writer HONG KONG (AP Global stock markets dropped Thursday as weakness on Wall Street and uncertainty about Chinese stimulus measures that have pumped up the country’s economy led investors to take profits from a recent rally. A number of markets in Asia and Europe were lower by one per cent or more, while oil retreated from a 2009 high and the dollar recovered modestly against the yen and the euro. Investors were spooked by losses on Wall Street late Wednesday after a leading analyst downgraded major US bank Wells Fargo & Co, touching off more fears about the financial sector. That combined with growing anxiety about the pace of the market’s rise to drag the Dow Jones index below the 10,000 l evel. M eanwhile, news China’s economy expanded at a heady 8.9 per cent in the third quarter, in line with market expectations, gave investors few reasons to wade deeper into the markets. While the figures were seen as mostly encouraging, some analysts said Chinese exports and private investment continued to lag, suggesting growth was still largely the result of enormous government stimulus spending. “The key message is that China’s economy is recovering and is on track to grow at least eight per cent this year, but it’s still imbalanced,” said Kelvin Lau, regional economist at Standard Chartered Bank in Hong Kong. “We’re still hoping the rest of the economy will recover as well. Simply relying on public investment can’t last forever.” With inflation tame and the c ountry’s export sector still h urting, China was unlikely to raise interest rates or do anything else to significantly tighten its monetary policies this year, he said. As trading started in Europe, Britain’s benchmark was down 1.6 per cent, Germany’s DAX was off 1.9 per cent and France’s CAC-40 lost 1.7 per cent. Europe followed Asia, where Japan’s Nikkei 225 stock average fell 66.22, or 0.6 per cent, to 10,267.17, and Hong Kong’s Hang Seng dropped 107.59 points, or 0.5 per cent, to 22,210.52. In China, the Shanghai index lost 19.18 points, or 0.6 per cent, to 3,051.41. South Korea’s benchmark fell 1.4 per cent, Australia’s index was off 0.5 per cent and India’s market shed 1.2 per cent. Analysts in China pointed to budding concerns about the direction of Beijing’s stimulus programme for some of t he losses. C hinese Premier Wen Jiabao said in a Cabinet meeting Wednesday that policy will focus on balancing economic growth while managing inflation raising worries over the potential impact on lavish government spending. “Today’s data fell within expectations, but the Premier’s remark yesterday on inflation control raised worries that the government might tone down its stimulus policies,” said Hu Xiaoyue, an analyst for Shanghai Securities. Markets have been on a tear in recent weeks, with benchmarks in the US and Asia hitting new highs for the year, as the ailing dollar and massive liquidity encourage investors to channel money into stocks. B ut some analysts have b een warning that investors are increasingly complacent about the risks facing the market. One closely watched measure of investor fears about the market, the Chicago Board Options Exchange’s Volatility Index, reached its lowest level in a year on Wednesday before jumping higher. The VIX is now around 22, down nearly 45 per cent this year. Its historical average is 18-20, and readings below 25 are often seen as a sign investors are relaxed or complacent. It hit a record 89.5 a year ago as the financial crisis deepened. In New York overnight, the Dow Jones industrial average fell 92.12, or 0.9 per cent, to 9,949.36, just above its low of the day. It was the biggest point and percent drop since O ctober 1. T he broader Standard & Poor’s 500 index fell 9.66, or 0.9 per cent, to 1,081.40, after reaching 1,101.36, its highest level in the past year. The Nasdaq composite index fell 12.74, or 0.6 per cent, to 2,150.73. US futures augured a modestly lower open on Wall Street. Dow futures were down 30 points, or 0.3 per cent, at 9,871. Oil prices slipped to near $80 a barrel Thursday as a wobbly US dollar steadied. Benchmark crude for December delivery fell $1.13 to $80.24 a barrel. The contract jumped $2.25 overnight as the dollar fell to its lowest since August 2008. In currencies, the dollar was stronger at 91.28 yen from 91.00 yen. The euro fell to $1.4972 from $1.4999. C M Y K C M Y K INTERNATIONAL BUSINESS THE TRIBUNE FRIDAY, OCTOBER 23, 2009, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FREE SEMINARYou are invited to attend a Free Financial Seminar, organized by the Education Committee of the Public Workers’Co-operative Credit Union Limited, to be held on Friday, October 23rd, 2009 at the Ofce of the Bahamas Co-operative League Limited (just west of Wendy’s, Oakes Field), beginning at 6:30 p.m.Come and See how you can stretch yourDOLLARS $$$Featured Speakers:Mrs. Stephanie Missick-Jones(Credit Specialist-Bahamas Co-operative League Ltd.and Mr. Philip Greenslade(Treasurer-Public Workers’ Co-operative Credit Union Ltd.)Bring a friend and get a prize for bringing the most guests.Refreshments will be served ClientRelationshipM anager S GPrivateBanking(Bahamas)Ltd. , partofthe SociGaleGroup,isaprivatebank providingacomprehensivewealth managementservice. SGPrivateBanking iscurrentlylookingto recruitaClientRelationshipManager. Your primaryrolewillbetointroduce,maintain andgrowprofitabl eclientrelationshipsin Latin America forSGPrivateBanking ( Bahamas ) Lt d andensureadherencetolegal, r egulatoryandindustrystandards YoushouldideallyholdtheChartered I nstitu t eofBankersDiplomaorequivalent p rofessionalqua l ifications,andhaveatleast 5 to8 y earsinternationalprivatebanking/ marketing/salesexperience. Youshouldhaveexcellentclientrela tionship andsellingskills, anin depthknowledge o finvest m ent, t rustandba n kingproducts and fluent knowledgeofSpanish .Some knowledgeof Portuguese wouldbeanasset , andproficientintheuseofComputers.The i ncumbentwillberequiredtotravelona regularbasistodesignatedmarketing regions. Thepos itionoffersanattractivesalaryand benefitspackageincludinggroupinsurances, p ensionandbonusschemes. Applicationsshouldbesubmittedtothe followingaddress,toar riveonorbefore28 O ctober 2 00 9 . H eadofHumanResources SG PrivateBanking (B ahamas)L t d P OBoxN778 5 Nassau Bahamas SG Private Banking (Bahamas licensed under the Bank & Trust Companies Regulations Act Our client has requested BHC Consulting to seek applicants for the position of: ITADMINISTRATOR You will be responsible for the health and development of the Corporate Information Systems and Network. Only candidates with the following qualications should apply: Reporting to the Financial Controller, this is the ideal position for an individual who can work independently with minimal supervision. You will be responsible for: Remuneration package includes generous employee benets. a nd attach a “one page resume” and salary requirements to: Brian Hassan, Principal Consultant bhcc@coralwave.com D eadline: 21st October, 2009 “People”, Processes and Technology Driving Business Value” World markets drop amid China policy doubts

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Point Holdings, had completed the deal with Statoil’s own entity, Statoil South Riding Point LLC. Under its terms, Statoil acquired the shares of Old South Riding Point Holdings’ three Bahamian subsidiaries, South Riding Point (Bahamas Point Terminal and South Riding Point Tugs, and its 50 per cent interest in Freepoint Tug & Towing Services. The latter operates a fleet of tugboats in Freeport. Statoil and World Point Terminals had originally hoped to close the deal for South Riding Point, which includes 6.75 million barrels of liquid bulk storage capacity in 10 tanks, on October 1, 2009, but this deadline was missed in the wait for government approval. Apart from National Economic Council (NEC Investments Board approval, both of which fell under the purview of the Cabinet or a Cabinet subcommittee, Statoil also had to win permission for the lease transfer and a 30-year extension to its tenure from South Riding Point's landlord, the Bahamas Agricultural and Industrial Corporation (BAIC Existing The existing lease on the 763-acre South Riding Point site, which includes 155 acres of land, the rest being the sea bed and offshore jetty, expires in 2019. Statoil, which has leased space at the oil storage, blending and transshipment facility for the past 16 years, sees South Riding Point's acquisition as a logical extension to its long-term growth strategy. South Riding Point, which employs 55 Bahamians and features 10 storage tanks and two berths, is well-positioned for the increasing advances Statoil wants to make into the US market, and the increasing volume of oil being shipped from Brazil. Statoil's lease at the site was due to end shortly, and it seemingly believes that ownership/control at South Riding Point would better aid its cause. Executive At the time, Jon A Jacobsen, Statoil's executive vicepresident for manufacturing and marketing, said of the planned purchase: "It will strengthen StatoilHydro's marketing and trading position in North America by securing the full terminal capacity. StatoilHydro's objective is to upgrade the terminal to allow for blending of all types of crude oils, including heavy oils." The Statoil deal is the second acquisition of a Grand Bahama-based oil storage terminal within two years, the first being the purchase of the BORCO terminal by First Reserve and Vopak for around $900 million in 2008. The South Riding Point deal has no connection to Statoil's entrance into the Bahamas in May 2009, when it announced its oil exploration joint venture with BPC Ltd in the southwestern Bahamas. C M Y K C M Y K BUSINESS PAGE 6B, FRIDAY, OCTOBER 23, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Employment Opportunity Awell established business within New Providence is in search of an Inventory Control Manager. Inquires must be able to organize and set up an easy manageable inventory control system that includes monitoring and organizing Building & Hardware and Plumbing & Electrical Supplies. The successful candidate must posses the following skills Be able to: 7UDFNDQGIROORZXSRQDOOVKLSPHQW from Suppliers. 5HFHLYHDQGYDOLGDWHDOOVKLSSHG items. 2UJDQL]HDFRPSUHKHQVLYHVWRUH delivery system. 2UJDQL]HDQGRU,PSURYHLWHPV location on the sales floor area. 0DLQWDLQDSURSHUGDWDEDVHVR that management and staff have an DFFXUDWHUHFRUGRIDOO,QVWRFNLWHPV 0DQDJHLQYHQWRU\FRQWUROVWDI The successful applicant must have D PLQLPXPRI\HDUVLQYHQWRU\ DQGVWRFNWDNLQJH[SHULHQFH+HVKH must be familiar with the Microsoft word & excel software. Warehouse management and Stock taking training with certificates would be desired. Salary would be based on qualifications and experience.Interested applicants are asked to apply through the following address: The President Re: Inventory Control Manager P.O.Box N-7143 Nassau, Bahamas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f 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHG RQGD\RI2FWREHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV /HJDORWLFH 1 27,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHG RQGD\RI2FWREHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV Lease extension granted to close $258m purchase Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a g ood cause, campaigning f or improvements in the area or have won an award.I f so, call us on 322-1986 and share your story. F F R R O O M M p p a a g g e e 1 1 B B

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Halloween stores pop up in old retail haunts By MAE ANDERSON AP Retail Writer NEW YORK (AP recession hasn’t been so scary for Halloween stores. In fact, they’re finding better haunts in the graveyards of failed retailers. The seasonal sellers are taking advantage of the spate of retail bankruptcies and closings to open more and larger temporary stores this year in better locations. It adds up to an aggressive bid to capture cautious consumers’ dollars in an industry that has grown rapidly over the past decade. Spirit Halloween has raised 8 3 former Circuit City stores from the dead, part of the 100 stores it has added to the 625 it had last year. Other smaller competitors are also taking bigger bites this year: Halloween Express, based in Owenton, Ky., and Halloween Adventure, based in Garnet Valley, Pa., have each added about 10 new stores this year. Since Halloween falls on a Saturday this year the best day according to those in the industry since more adults throw parties retailers are hoping for brisk business. Despite the recession, mark et research firm IBISWorld I nc. expects 2009 sales for costumes and decor to rise three per cent to $3.8 billion this year compared with a year ago. Halloween Adventure CEO Joe Purifico confirmed sales were “trending up” as the company headed into the important two-week stretch before Halloween. But seasonal retailers which make about 70 per cent of their sales in September a nd October face tough competition for market share from lower-priced retailers such as Target Corp. and Wal-Mart Stores Inc., so visibility is key. “The bigger the storefront, the bigger impression you have on the consumer and that’s the big plus,” said Spirit Halloween vice president of operations Tony Detzi. They stores say they’re not really saving much on rent, but spending similar amounts to get better locations. The Spirit Halloween on Manhattan’s Upper West S ide was bustling on a recent a fternoon. Kids alternately m arveled and screamed at the decor on the first floor including a life-size Michael Myers from “Halloween” while shoppers browsed costumes ranging from knights i n armor to sexy nurses, most f or around $30, on the second floor. Lucy Mateo, 40, an executive assistant in New York who works nearby, was surprised at the speed the vacant Circuit City morphed into Spirit Halloween. “I didn’t even know it was under construction.” Closings E mpty retail space from the closings of Circuit City, Mervyns, Linens ’N Things and Home Depot’s Expo Design Center have given the temporary stores plenty to work with. Suzanne Mulvee, senior economist at Property & Portfolio Research, estimates there is 269 million more square feet in vacant retail space the equivalent of about more than 5,000 fulls ize Best Buy stores across t he country compared with a year ago. That gives retailers bargaining power, she said. “A year ago they were in the corner of the mall, where no one went to,” she said. “Now there are all these choices.” Shuttered big-box stores also let retailers have more space, which ultimately translates into more dollars for seasonal retailers. It helps to make the store more shoppable, there’s more floor space to put out all the product that you want and still have enough elbow room for customers,” said Halloween Adventure’s Purifico. The average square footage for Halloween Adventures stores grew from 8,000 to 10,000 this year. If you try to cram too much into a smaller store, “the store becomes a maze,” he said. C M Y K C M Y K INTERNATIONAL BUSINESS THE TRIBUNE FRIDAY, OCTOBER 23, 2009, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM I I N N S S I I G G H H T T F o o r r t t h h e e s s t t o o r r i i e e s s b b e e h h i i n n d d t t h h e e n n e e w w s s , , r r e e a a d d I I n n s s i i g g h h t t o o n n M M o o n n d d a a y y s s

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ANDROS CAT ISLAND E LEUTHERA MAYAGUANA SAN SALVADOR GREAT INAGUA G REAT EXUMA CROOKED ISLAND / ACKLINS LONG ISLAND A BACO Shown is today's weather. Temperatures are today's highs and tonights's lows. KEY WEST WEST PALM BEACH F T. LAUDERDALE T AMPA O RLANDOLow: 69F/21C L ow: 73F/23C L ow: 76F/24C L ow: 76F/24C Low: 75F/24C Low: 78F/26C Low: 77F/25C L ow: 76F/24C H igh: 88F/31C H igh: 87F/31C H igh: 88F/31C H igh: 86F/30C High: 88F/31C H igh: 86F/30C H igh: 86F/30C Low: 77F/25C H igh: 86F/30C Low: 78F/26C High: 86F/30CRAGGED ISLANDL ow: 75F/24C H igh: 86F/30C Low: 76F/24C High: 87F/31C Low: 74F/23C High: 85F/29C Low: 76F/24C High: 85F/29C L ow: 78F/26C High: 88F/31C L ow: 76F/24C H igh: 86F/30C L ow: 76F/24C High: 86F/30C Low: 77F/25C High: 89F/32C Low: 77F/25C High: 86F/30C H igh: 86F/30CFREEPORT N ASSAU MIAMI THE WEATHER REPORT 5-DAYFORECASTPartly sunny, a couple of t-storms Partly cloudy, a couple of t-storms Partly sunny, a t-storm; breezy Partly sunny, a t-storm possible Partly sunny, a t-storm possible High:8 L ow:7 H igh:8 H igh:8 H igh:8 AccuWeather RealFeel A ccuWeather RealFeel A ccuWeather RealFeel A ccuWeather RealFeel A ccuWeather RealFeelPeriods of sun, t-storms possible High:8 Low:77Low:79Low:78 A ccuWeather RealFeel 93F T he exclusive AccuWeather RealFeel Temperaturei s an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure, and elevation on the human bodyeverything that effects how warm or cold a person feels. Temperatures reflect the high and the low for the day. 77F 100-82F 92-85F 92-82F 99-86F Low:78TODAYTONIGHTSATURDAYSUNDAYMONDAYTUESDAY ALMANACHigh ..................................................86F/30C Low ....................................................75F/24C Normal high ......................................84F/29C N ormal low ........................................72F/22C L ast year's high ..................................88F/31C L ast year's low ..................................78F/26C As of 2 p.m. yesterday ..................................0.01" Year to date ................................................31.89"N ormal year to date ....................................44.03" Statistics are for Nassau through 2 p.m. yesterday Temperature Precipitation SUNANDMOON TIDESFORNASSAU First FullLast New O ct. 25Nov. 2Nov. 9Nov. 16Sunrise . . . . . . 7:12 a.m. S unset . . . . . . . 6:36 p.m. Moonrise . . . 12:13 p.m. M oonset . . . . 10:54 p.m. Today S aturday Sunday Monday HighHt.(ft.LowHt.(ft. 1 1:04 a.m.3.04:37 a.m.0.7 11:26 p.m.2.45:38 p.m.0.9 11:54 a.m.2.85:27 a.m.0.9 -----6:30 p.m.1.0 12:21 a.m.2.36:22 a.m.1.2 12:48 p.m.2.77:25 p.m.1.2 1:20 a.m.2.37:22 a.m.1.3 1:44 p.m.2.68:18 p.m.1.2 Tuesday W ednesday Thursday 2 :19 a.m.2.48:24 a.m.1.3 2:39 p.m.2.69:08 p.m.1.0 3:14 a.m.2.59:23 a.m.1.2 3 :30 p.m.2.69:53 p.m.0.9 4:03 a.m.2.610:16 a.m.1.0 4:16 p.m.2.610:34 p.m.0.7 MARINEFORECAST WINDSWAVESVISIBILITYWATER TEMPS. ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU SAN SALVADOR RAGGED ISLAND Today:E at 12-25 Knots6-10 Feet10 Miles81F Saturday:S at 20-30 Knots6-10 Feet5 Miles81F Today:NE at 8-16 Knots2-4 Feet10 Miles83F Saturday:SW at 4-8 Knots1-2 Feet10 Miles83F Today:SE at 12-25 Knots6-10 Feet3 Miles84F Saturday:SE at 8-16 Knots3-5 Feet10 Miles84F Today:S at 8-16 Knots2-4 Feet3 Miles84F Saturday:ESE at 8-16 Knots2-4 Feet6 Miles84F Today:E at 15-25 Knots8-12 Feet4 Miles83F Saturday:SSE at 10-20 Knots3-8 Feet10 Miles83F Today:ENE at 10-20 Knots2-4 Feet10 Miles82F Saturday:SW at 7-14 Knots1-3 Feet5 Miles82F Today:N at 8-16 Knots1-3 Feet5 Miles83F Saturday:SSE at 8-16 Knots1-3 Feet5 Miles83F Today:S at 7-14 Knots2-4 Feet5 Miles84F Saturday:ESE at 7-14 Knots2-4 Feet6 Miles84F Today:SSW at 10-20 Knots1-3 Feet3 Miles84F Saturday:SE at 8-16 Knots1-3 Feet10 Miles84F Today:SSE at 10-20 Knots4-8 Feet4 Miles84F Saturday:ESE at 10-20 Knots4-7 Feet6 Miles84F Today:ENE at 12-25 Knots3-5 Feet10 Miles83F Saturday:S at 10-20 Knots2-4 Feet10 Miles83F Today:SW at 7-14 Knots1-2 Feet10 Miles84F Saturday:SE at 7-14 Knots1-3 Feet10 Miles84F Today:SE at 12-25 Knots3-6 Feet4 Miles84F Saturday:SSE at 8-16 Knots2-4 Feet10 Miles84F UV IN DEXTO DAYT he higher the AccuWeather UV IndexTMn umber, the greater the need for eye and skin protection.Forecasts and graphics provided by AccuWeather, Inc. AccuWeather.com L L L H Atlanta A t l a n t a Highs: 72F/22C H i g h s : 7 2 F / 2 2 C Kingston K i n g s t o n Highs: 87F/31C H i g h s : 8 7 F / 3 1 C Caracas C a r a c a s Highs: 90F/32C H i g h s : 9 0 F / 3 2 C Panama City P a n a m a C i t y Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Limon L i m o n Highs: 83F/28C H i g h s : 8 3 F / 2 8 C Managua Ma n a g u a Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Cozumel C o z u m e l Highs: 90F/32C H i g h s : 9 0 F / 3 2 C Belize B e l i z e Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Charlotte C h a r l o t t e Highs: 72F/22C H i g h s : 7 2 F / 2 2 C Charleston C h a r l e s t o n Highs: 82F/28C H i g h s : 8 2 F / 2 8 C Savannah S a v a n n a h Highs: 82F/28C H i g h s : 8 2 F / 2 8 C Pensacola P e n s a c o l a Highs: 78F/26C H i g h s : 7 8 F / 2 6 C Daytona Beach D a y t o n a B e a c h Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Tampa T a m p a Highs: 87F/31C H i g h s : 8 7 F / 3 1 C Freeport F r e e p o r t Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Miami Mi a m i Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Nassau N a s s a u Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Havana H a v a n a Highs: 88F/31C H i g h s : 8 8 F / 3 1 C Santiago de Cuba S a n t i a g o d e C u b a Highs: 85F/29C H i g h s : 8 5 F / 2 9 C San Juan S a n J u a n Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Santa S a n t a Domingo D o mi n g o Highs: 84F/29C H i g h s : 8 4 F / 2 9 C Trinidad T r i n i d a d Tobago T o b a g o Highs: 89F/32C H i g h s : 8 9 F / 3 2 C Port-au-Prince P o r t a u P r i n c e Highs: 88F/31C H i g h s : 8 8 F / 3 1 C C ape Hatteras C a p e H a t t e r a s Highs: 74F/23C H i g h s : 7 4 F / 2 3 C Aruba Curacao A r u b a C u r a c a o Highs: 90F/32C H i g h s : 9 0 F / 3 2 C Antigua A n t i g u a Highs: 87F/31C H i g h s : 8 7 F / 3 1 C Barbados B a r b a d o s Highs: 86F/30C H i g h s : 8 6 F / 3 0 C Bermuda B e r m u d a Highs: 77F/25C H i g h s : 7 7 F / 2 5 C Atlanta Highs: 72F/22C Kingston Highs: 87F/31C Caracas Highs: 90F/32C Panama City Highs: 88F/31C Limon Highs: 83F/28C Managua Highs: 89F/32C Cozumel Highs: 90F/32C Belize Highs: 89F/32C Charlotte Highs: 72F/22C Charleston Highs: 82F/28C Savannah Highs: 82F/28C Pensacola Highs: 78F/26C Daytona Beach Highs: 86F/30C Tampa Highs: 87F/31C Freeport Highs: 86F/30C Miami Highs: 88F/31C Nassau Highs: 86F/30C Havana Highs: 88F/31C Santiago de Cuba Highs: 85F/29C San Juan Highs: 89F/32C Santa Domingo Highs: 84F/29C Trinidad Tobago Highs: 89F/32C Port-au-Prince Highs: 88F/31C Cape Hatteras Highs: 74F/23C Aruba Curacao Highs: 90F/32C Antigua Highs: 87F/31C Barbados Highs: 86F/30C Bermuda Highs: 77F/25C INSURANCEMANAGMENTTRACKINGMAP Showers Warm Cold Stationary Rain T-storms Flurries Snow IceS hown is today's weather. Temperatures a re today's highs and t onight's lows. N S EW E E E E W 8-16 knots N S EW E E E E W 12-25 knots N S EW S E 10-20 knots N S EW S E 12-25 knots N S EW N S 8-16 knots N S EW N S S S 8-16 knots N S EW S E 7-14 knots N S EW S E 8-16 knots C M Y K C M Y K INTERNATIONAL BUSINESS THE TRIBUNE FRIDAY, OCTOBER 23, 2009, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ELAINE KURTENBACH AP Business Writer SHANGHAI (AP ernment spending and bank lending helped China’s growth rate accelerate to an 8.9 per cent pace in the third quarter, far outstripping expansions elsewhere around the globe and raising questions about whether the rapid rebound can be sustained. China also announced Thursday that industrial production and investment spending are growing at a faster pace. That seemingly good news unsettled local stock investors, however, on fears Beijing may need to rein in its stimulus policies to avoid asset bubbles and inflation. Companies, central bankers and p olitical leaders around the world a re increasingly counting on growing d emand from Chinese producers and consumers to offset sluggish home markets. Corporations from Coke to Caterpillar are seeing their strongest sales in Asia, particularly China. So far, the growth is coming mostly from government-backed spending on construction and other projects, but demand from China’s traditionally frugal, still relatively poor consumers is also rising. The world’s third-largest econo my began to falter in late 2008 ase xports plunged and thousands of factories shut down, throwing millions out of jobs. China fought back with a four trillion yuan ($586 billion) stimulus plan involving massive spending and bank lending for construction of infrastructure such as railways and roads to pump up the domestic economy. Growth fell to a low of 6.1 per cent in the first quarter, but rebounded to 7.9 per cent in the second quarter, hitting 8.9 per cent in the third quarter compared with a year earlier. That puts the economy on track to at least meet the official target of an eight per cent expansion for 2009. With China in the forefront, “Asia appears to be leading the global recovery,” Federal Reserve chairman Ben Bernanke said earlier this week. “Recent data from the region suggest that a strong rebound is, in fact, under way.” Yet sustaining the upswing beyond a few quarters hinges on stronger demand for exports from important markets such as the US, Europe and Japan which are emerging only slowly from the worst global recession since World War II. “We’ll see strong growth from China for the next six months, possibly another year,” said Standard Chartered Bank economist Stephen Green. “The problem is what hap pens after another year and a half. What will be the growth driver then?” he said. Signaling another set of concerns, China’s top leaders said Wednesday that policies will increasingly focus on countering inflation a problem that had seemed below the horizon with consumer prices down 1.1 per cent so far this year. They also resolved to clamp down on waste, industrial overcapacity and other imbalances brought on by the rapid resurgence in growth. Still, the announcement that growth continued to accelerate in the third quarter contained a hint of jubilation over Beijing’s progress in mending damage from the global economic crisis. “We can say we have made obvious and remarkable achievements in our economic growth,” National Statistics Bureau spokesman Li Xiaochao told reporters in Beijing. “We have quickly reversed the economic slowdown. The momen tum of the recovery is solid and overall, our economic performance is showing signs of improvement,” Li said. Industrial output rose 8.7 per cent in the first three quarters of the year, and 12.4 per cent in July-September signaling accelerating demand for steel and other industrial goods. While China’s imports still fall far short of its exports, its recovery is playing a stabilizing role for other, harder-hit economies, said David Cohen, director of Asian economic forecasting for the consultancy Action Economics in Singapore. “The Chinese are the biggest customers for many countries around the world,” he said. “They matter like never before.” Surging purchases of coal, iron ore and other minerals have aided global miners BHP Billiton and Rio Tinto. Automakers such as Ford Motor Co. and General Motors Co. are increasingly reliant on China with its auto market surging ahead of the US to become the world’s biggest this year. Caterpillar Inc., which makes heavy equipment, raised its earnings forecast for the year because of performance in Asia, its best-performing region. Deliveries of its products in China were higher than they had ever been for the third quarter. Coca-Cola Co. plans a $2 billion investment along with its bottlers in China in the next three years to meet the growing popularity of fizzy drinks. Even as China’s rapid recovery sees it loom ever larger for companies in the West, it is grappling with problems that could undermine that progress. Heavy reliance on spending on public works and other investments has raised worries that wasteful and redundant outlays on new factories and unneeded construction will worsen gluts, while inviting financial problems as projects fail to pay off. Record bank lending has also helped spur potentially unhealthy run-ups in property and share prices. On Wednesday, top bank regulator Liu Mingkang ordered banks to show more caution in lending in coming months. The government this week also outlined fresh curbs on investments in steelmaking and other industries plagued by massive overcapacity. China’s planners are seeking to widen the sources of growth beyond exports and investment in state-dominated industries by channeling spending to areas of the economy expected to spur more consumer spending and improve productivity. While China’s domestic consumption remains low compared with other major economies, it is rising. Retail sales grew 15.1 per cent in the first three quarters, the statistics bureau said. Housing sales have been rising and new housing starts are also picking up. “I never trusted what the economists were saying on TV about the recovery until our orders doubled last month. Now I’m convinced,” said Zhang Yizheng, general manager of Shanghai Rising, a trading company that deals in plastic pipes used mainly in vehicles. “Our orders from car makers, electric equipment makers and construction companies tell me that their business is returning to normal, too.” China’s economy expands 8.9 per cent in third quarter A VENDOR sleeps surrounded by his vegetables at a market in Suining in southwest China’s Sichuan province. (AP Photo

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By RUSTY MILLER AP Sports Writer COLUMBUS, Ohio (AP The Boston Celtics rested two-thirds of their Big Three.E verybody else was up to the task. Eddie House scored 21 points as the Celtics rolled to a 96-82 victory over the Cleveland Cavaliers in a preseason game Wednesday night. "We got a win. We closed the preseason out right," said House, who hit 8 of 14 shots from the field including three 3-pointers. Kevin Garnett and Ray Allen didn't play for the Celtics, coach Doc Rivers saying before the game that he had also asked Paul Pierce to rest. Pierce, however, started and played just over 13 minutes and scored 11 points. "I was just trying to stay sharp," Pierce said. "We've got five, six days before we play again. I thought it was good for me to go out there." The two teams meet again in the season opener on Tuesday in Cleveland. "I don't care where it is when you play the Cavs," Pierce said. "They're a team that we probably are going to have to go through in the Eastern Conference. They're going to be right up there at the top if they stay healthy. It'd be great to get a win in that building." Marquis Daniels scored 17 points, Kendrick Perkins 13 and Rasheed Wallace 10 for the Celtics (6-2 on top 32-22 after a quarter and never trailed again, leading by as many as 21 points in the third quarter. LeBron James scored 18 points, Shaquille O'Neal 16 and Anderson Varejao had 10 for the Cavaliers (3-4 Stern hopeful on Nets sale, return of refs C M Y K C M Y K INTERNATIONAL SPORTS TRIBUNE SPORTS FRIDAY, OCTOBER 23, 2009, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By BRIAN MAHONEY AP Basketball Writer NEW YORK (AP David Stern says the sale of the New Jersey Nets to Russia’s richest man could be approved by the end of the year. Stern said Thursday that Mikhail Prokhorov, who has a deal to buy 80 per cent of the team, had a positive introduction with NBA owners during their two-day Board of Governors meetings. Prokhorov’s application is currently under review and the sale must be approved by three-fourths of the league’s owners. Stern also says he’s hopeful the referees will approve a new contract with the league that would put them back to work for the start of the regular season. The commissioner also says owners voted to give the league office emergency powers to determine what happens if teams can’t field the minimum eight players because of illness. Wallace helps Celtics beat Shaq and Cavs R ASHEED WALLACE s hoots during the first quarter of a preseason game against the New Jersey Nets... (AP Photo: Bill Kostroun By ANNE M PETERSON AP Sports Writer PORTLAND, Ore. (AP a dominating preseason win over the Portland Trail Blazers, Carlos Boozer feels like the Utah Jazz are ready for the regular season. "We've got to tighten up some stuff," he said. "We've got to take care of that full-court press a little better at the end of the game, I'm sure we'll get over it tomorrow. But for the most part, I think we did a good job defensively, especially in the half court. We did a good job of helping each other." Deron Williams had 27 points and Boozer and Ronnie Brewer each added 16 in Utah's 108-97 preseason victory over Portland on Tuesday night. The Jazz (4-2 er and C.J. Miles because of injuries, led by as many as 25 points. "I don't have all our players here, that's the thing that's always diffi cult," coach Jerry Sloan said about the impending season. "But we're going to play anyway, and I've always believed that if you come and play hard as a team, you always have a chance." Jerryd Bayless had 16 points for the Blazers (3-4 seemed both tired and out of sorts. Brandon Roy had 15 points and Travis Outlaw added 10, all in the first quarter. "We just looked like we hadn't seen each other today," Roy said. "It's almost like a quarterback play ing with a receiver he's never played with before." Utah center Mehmet Okur returned after missing Sunday's vic tory over Charlotte with a sore back and contributed five points. The Blazers made a surprise move when Juwan Howard started at forward instead of LaMarcus Aldridge, who had a left shin contusion and was a last-second scratch. Howard was acquired by Portland as a free agent in the offseason. Portland lost forward Nicolas Batum early in the game with a hip injury. The Blazers were already without center Greg Oden, who bruised his thigh on Sunday in Portland's comefrom-behind victory over Denver. Blazers swingman Rudy Fernandez missed the game because of a bad back, and coach Nate McMillan said he's unlikely to play in the preseason finale Thursday against Phoenix in Vancouver, British Columbia. The Jazz led by as many as 13 points in the first quarter, jumping on the dazed Blazers. About the only spark for Portland was Outlaw, but even that was short-lived. Utah's dominance continued as Kyrylo Fesenko's running jumper extended the lead to 40-26. The Jazz led 59-40 at halftime, and Boozer's tip-in stretched the lead to 85-61 at the end of the third quarter. Both teams pretty much sat their starters for the final quarter. The officials drew the ire of fans who chanted their displeasure with a few questionable calls, but there was word earlier Tuesday that the NBA's labor dispute with the referees' union may be drawing to a close. A person familiar with the nego tiations told The Associated Press that the league has made a new pro posal. The person, who requested anonymity because the negotiations are ongoing, said it's "highly likely" the referees will be back for the opening of the season. The Jazz, who went 48-34 last sea son before falling to the eventual NBA champion Los Angeles Lakers in the first round of the playoffs, vis it the Sacramento Kings for the preseason finale before opening at Denver on Oct. 28. Portland won 54 games last season but fell to the Rockets in the first round of the playoffs. After wrap ping up the season against the Suns, the Blazers open at home against Houston next Tuesday. Portland tried to acquire Utah forward Paul Millsap in the offseason, signing the restricted free agent to an offer sheet. But the Jazz matched the offer. Jazz pounce on Blazers, 108-97 CARLOS BOOZER dunks in the first quarter of their preseason game... (AP Photo: Rick Bowmer GREG ODEN can be seen during media day. After an inconsistent debut season, Oden reinvented himself during the summer by shedding 15 pounds, adding a couple of new moves and changing his attitude... (AP Photo: Don Ryan After inconsistent debut season, Oden sheds pounds, adds new moves, changes attitude