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:
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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Ministry te ecru
leachers from UK

Specialists to ‘improve Raia ee EVER YI

numeracy and literacy
in public schools’

By TANEKA
THOMPSON
Tribune Staff
Reporter
tthompson@
tribunemedia.net

SPECIALIST teach-
ers from the UK are to be
recruited to supplement
areas that Bahamian educa-
tors cannot adequately fill,
new Minister of Education
Desmond Bannister has
vowed.

Starting next month, min-
istry officials will cast their
net overseas hoping to con-
tract a "limited number" of
British teachers who spe-
cialise in mathematics, Eng-
lish language and literature.

The move is a short-term
bid to improve the literacy
and numeracy skills lacking
in many public school stu-
dents.

"We will start a recruit-
ment exercise for a limited
number of teachers from
England, and they're going
to be specialist teachers.
They will only be brought
in areas where we don't
have Bahamians to fit the



need," Mr Bannis-
ter told The Tri-
bune.

He would not
reveal how many
spots the govern-
ment hopes to fill

but said the successful
candidates must bring a
wealth of experience to the
table along with a passion
for teaching.

For years, the public
school system has been crit-
icised for producing a num-
ber of students who only
possess rudimentary knowl-
edge of reading and mathe-
matics skills, and enter the
job market ill equipped.

Mr Bannister believes the
problem may be due in part
to a lack of Bahamian
teachers who are willing to
specialise in mathematics
and language concentra-
tions.

"One of the problems is
that we've been graduating
lots of generalist teachers
from the College of the
Bahamas (COB). We have
to focus more now on teach-

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MP Adderley
‘contemplating
joining FNM’

Tribune Staff Reporter
pturnquest@tribunemedia.net

ELIZABETH MP Malcolm Adderley is
reportedly contemplating crossing the floor of

the House of Assembly to join the ranks of
the FNM, sources within the party have sug-
gested.

Initially it was believed Mr Adderley had
been wooed by the governing party to relin-

SEE page 11







“me

pA ‘oes

one





POLICE OFFICERS leave
the prison yesterday
after the accidental
shooting.

By ALISON LOWE
Tribune Staff
Reporter

alowe@
tribunemedia.net




















A PRISON officer
was accidentally shot
while on duty at Her
Majesty’s Prison yes-
terday.

Deputy Superinten-
dent of Prisons,
Charles Rolle, said the
guard was near the
prison armoury when
an attempt by a senior
officer to open a
“jammed” revolver
resulted in a bullet
being discharged.

The guard was left
nursing a gunshot
wound to the “flank”
area. He was rushed to

By MEGAN REYNOLDS
mreynolds@tribunemedia.net

found behind the Anglican
Church head office in Addington
House, Sands Road, was his.

Mr Farrington’s family had
been in daily communication with
police since he vanished without a
trace on November 24.

His sister Christine Ferguson
said he had told his father he was
going out for a short while at
around 5pm, and when there had

SEE page 12

FAMILY and friends of pop-
ular St Andrew’s School graduate
Francis Farrington are coming to
terms with his untimely death,
one month after his mysterious
disappearance.

Police confirmed their greatest
fear just days before Christmas
as the 27-year-old’s dental records
proved the decomposed body




Felipé Major/Tribune staff









Francis Farrington





Tiger Woods ‘spent Christmas in Exuma’






hospital.

The incident took
place shortly before
midday yesterday.

“The family has
been informed and
they are by his side,”
Mr Rolle said.

Last night, the police
issued a statement say-

SEE page 11

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RUMOURS swirled yes-
terday that troubled golf
superstar Tiger Woods spent
Christmas in George Town,
Exuma.

Up until Sunday, Woods
was reportedly seen soaking
up the sun on the island.

Woods, who turns 34 today,
is said to be sailing on a boat
in The Bahamas to escape the
scrutiny and media coverage.

Meanwhile the sex scandal

that has engulfed him may
have cost shareholders of
companies endorsed by the
world's No. 1 golfer up to $12
billion in losses, according to
a study by two economics pro-
fessors from the University of
California.

The study, released on
Monday by researchers Victor
Stango and Christopher Knit-
tel, gave an estimate of dam-
age to the market value of

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in a minor car accident out-
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November 27.

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PAGE 2, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



LOCAL NEWS



CUBA: Havana says all |
four Florida Senate =:
candidates will be had |
for relations with US
HAVANA

CUBA'S official media
lashed out at all four main
candidates to become
Florida's next senator —
Democrats and Republi-
cans alike — saying this
week they will do nothing
to improve relations
between Havana and
Washington, according to
Associated Press.

Republicans Marco
Rubio and Charlie Crist
and Democrats Kendrick
Meek and Maurice Ferre
all have voiced support
for continuing Washing-
ton's 47-year trade embar- }
go on the island, accord-
ing to an article Tuesday
in the Communist Party
newspaper Granma.

The paper called them
part of a "Miami mafia
machine that dominates ;
the city and North Ameri-
can policies toward :
Cuba."

Rubio, the son of
Cuban parents, is a con-
servative former Florida
House speaker who is
challenging Gov. Crist for
the Republican nomina-
tion.

Meek is a Democratic
Congressman, and Ferre
is a former mayor of Mia-
mi.

Each candidate
addressed the hardline
US-Cuba Democracy
Political Action Commit-
tee (PAC) last week,
arguing why he would be
the best to fight for
democracy in Cuba.

Florida is home to hun-
dreds of thousands of
Cuban exiles who have
left the communist-run
island since Fidel Castro's
1959 revolution. US-Cuba
policies are one of the
main issues that dominate
the state's politics.

While many Cuban-
Americans favor a hard-
line approach to the
island, polls indicate a
growing number support
efforts to improve rela-
tions.

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New minister: public

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE public school system is in the
middle of a crisis, the newly appoint-
ed minister of education admitted.

While acknowledging that his min-
istry cannot immediately solve the
complex issues which have developed
in the county's schools over the last 30
years, Desmond Bannister said it is
time to confront the challenges.

For years the government school
system has been plagued with student
violence and gang activity, com-
pounded with allegations of “social
promotion” of poor-performing stu-
dents.

"We do have a crisis in the public
educational system and it's an issue
that we as Bahamians have to address
and we have to address it head on.

Desmond Bannister says it is
time to confront challenges

“Over the past three decades or so,
we've created the kind of society
which is causing the kind of problems
that we are having now in our
schools," said Mr Bannister, who
insisted that there are many good
things happening in the public school
system as well.

"The ministry cannot solve it on its
own and there is no short-term fix.
The most you can do is start in the
right direction and so we have to start
concentrating on school children all
over again, we have to increase the
attention to literacy efforts, reading,
writing, and we have to concentrate
on issues like character development

and also social skills in young people,
improving conflict resolution.

"For too long we've just assumed
that things are going to get better —we
have to find ways to make it better —
we have too many kids coming out
of school who just can't read and
write.

"We have too many students who
are coming out of primary school who
are reading below grade level, they
have poor numeracy skills, they are
going into high schools and so these
young people are coming out of
school without the literacy skills which
are required by society. As a result,
many of them are frustrated and they

schools are in ‘crisis’

themselves are having problems," he
told The Tribune during a recent inter-
view at the Ministry of Education.

The ministry has plans to recruit a
number of specialist teachers from
the United Kingdom early next year
to help improve numeracy and litera-
cy skills in public school students (see
page 1).

It's an initiative that was envisioned
under the term of former education
minister Carl Bethel, who resigned in
November to commit full time to his
post as FNM chairman.

Education officials also hope to
expand a parenting skills programme
which was launched earlier this year as
a pilot study in Grand Bahama.

Mr Bannister said the programme
was met with lukewarm attendance
by parents on that island, but he hopes
that if the project is expanded, more
struggling parents will enroll.



Bannister inspects progress of
Anatol Rodgers High School

MINISTER of Education
Desmond Bannister visited
the Anatol Rodgers High
School on Faith Avenue
last week to inspect the
progress of the work being
carried out at the facility.

Mr Bannister said it is a
priority for him to see the
school fully operational and
free of construction activity
as early as possible in the
new school year.

Ran-Mar Construction is
carrying out the work, and
the company estimates that
the job should be finished
in early 2010.

The minister toured the
perimeter of the school,
inspecting the temporary
barriers in place to ensure
that students remain on the
campus and trespassers are
kept out.

Mr Bannister also
inspected the science and
home-economic labs as well
as the school’s gymnasium
to see the progress of the
work in those areas.

Since the last inspection

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Pa ty
822-2197





EDUCATION MINISTER DESMOND BANNISTER discusses the completion works at the Anatol Rodgers High School. (From left) Min-
ister Bannister and contractor Randy Penn.

of the school in November
2009, the entrance and the
front and side parking areas
have been paved and eight
of 12 wells have been dug
to prevent flooding on the

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grounds.

Lunch pavilions complete
with seating areas have also
been erected in the senior
and junior blocks.

Randy Penn, head of

Ran-Mar Construction,
assured the minister that
once certain changes to the
plans are approved by the
ministries of Education and
Works, the air-condition-

ing systems for the gymna-
sium and the remaining
work on the science labs
will be completed, as well
as any other outstanding
works.

Ministry to recruit
teachers from UK

FROM page one

ers who have very specific
skills that they can bring to
the table.

"We have to focus on
teachers who are not afraid
of mathematics, not afraid
of development of these
literacy skills in children,
because some teachers will
tell you, in all fairness to
them, that these are issues

that they are afraid of," he
said.

Mr Bannister revealed
that of the hundreds of stu-
dents expected to gradu-
ate from COB's teaching
programme next year, only
two teachers are registered
in the accounting concen-
tration, 31 in the mathe-
matics stream, and 18 in
language and literature.

By contrast, 172 students

INDEX

MAIN/SPORTS SECTION

CLASSIFIED SECTION 28 PAGES

USA TODAY MAIN SECTION 12 PAGES



are expected to graduate
from the primary educa-
tion concentration next
year, he said.

Mr Bannister said the
numbers expose the urgent
need for the Ministry to
find and develop more
Bahamian teachers who
are willing and able to spe-
cialise in daunting subject
areas,

"We get a lot of teach-
ers who are very good stu-
dents now but there are a
lot of people who are top
students in their schools
who are being told
‘become a lawyer, become
a doctor’ and we have to
make sure that some of
them also consider that
education is a wonderful,
rewarding and personally
enriching area," said Mr
Bannister, who assumed
the post of Minister of
Education on December 1.

Prior to this promotion,
Mr Bannister was the Min-
ister of Youth, Sports and
Culture and a former Min-
ister of Legal Affairs.

Mr Bannister, a senior
partner in the law firm
Evans and Co, has also lec-
tured part-time at the
Bahamas Institute of
Bankers and at COB.





THE TRIBUNE

WEDNESDAY, DECEMBER 30, 2009, PAGE 3



LOCAL NEWS



Boaters who
(lied in Exuma
are identified

THE BOATERS who
lost their lives when
their boat capsized in
Exuma have been iden-
tified by police as
brother and sister
Charles and Marilyn
Morley.

Charles Morley, 51,
of Grand Bahama and
his sister Marilyn, 45, a
resident of George
Town, Exuma, were out
fishing on a 12-foot
Carolina Skiff with
another woman when
their boat overturned in
the Fowl Cay area at
around 11.30am on Sat-
urday.

Passing boaters res-
cued the woman, who
has not been identified
by police, and the life-
less bodies of Mr and
Miss Morley were
found nearby.

Officers investigating
the incident say the trio
had set out on their
fishing trip from an
area known as the Cot-
tage in Exuma and
were capsized by swells
near Fowl! Cay.

Defence Force officers
warned over missing gun

Minister says all 14 onboard vessel could
be disciplined if no explanation given

SNOT WAUMC ele] toa



By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

AS POLICE continue their inves-
tigations into the disappearance of a
gun from a Defence Force vessel,
the Minister of National Security
has warned that all 14 officers
onboard at the time could be disci-
plined if no explanation of its where-
abouts is forthcoming.

The officers were confined to their
ship — the Guanahani — for several
days over the Christmas period,
before being placed on continued
lockdown at the Coral Harbour
base, as police were brought in as
part of an effort to locate the
weapon.

Yesterday a senior police officer
declined to comment on the status of
the Central Detective Unit’s inves-
tigation into the matter, adding only

that it is ongoing.

Minister of National Security
Tommy Turnquest said the officers
have “a certain time-frame in which
to answer” inquiries as to the loca-
tion of the gun or how it came to
disappear, or all will face discipli-
nary action.

Patrol

The gun was found to be unac-
counted for while the officers were
on patrol in the Ragged Island area
before Christmas.

Mr Turnquest said unlike police
guns, the weapon would not have
been assigned to a particular offi-
cer, but rather there would have
been a certain number of guns
signed out for that particular patrol
mission.

Asked yesterday if he is support-

ive of the decision to keep the offi-
cers confined while investigations
continue, Mr Turnquest said: “What
I am supportive of is all firearms
being accounted for.

“We have in place a management
team responsible for the RBDF and
they’re to follow established proce-
dure and when they don’t then we
know what to do.

“We have an unacceptable crime
level and we have large numbers of
illegal weapons out there so until
we find it we’re not satisfied,” said
the minister.

Asked exactly what type of gun
is missing, Mr Turnquest said he is
not sure. He said that he is not
aware of any other RBDF weapons
going missing in recent times.

“IT know it’s a firearm and from
my point of view that’s serious
enough that it has to be found,” he
said.

Mobile machines on track to
improve passport applications

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE distribution of mobile
finger-printing and electronic
signature machines will make it
easier for Family Island resi-
dents to apply for digital pass-
ports in the new year.

Minister of National Security,
Brent Symonette, said the gov-
ernment is on track to imple-
ment the mobile enrolment sys-
tem in the Family Islands begin-
ning in January.

The system will enable Fam-
ily Island residents to submit
passport application forms with
their fingerprints and digital sig-
natures remotely.

During several weeks of live
testing, Prime Minister Hubert
Ingraham served as a test sub-
ject, being enrolled for his new
passport using the mobile sys-
tem.

Once the system is on stream,

the government intends to send
passport officers to the Family
Islands, including those without
government offices, such as
Spanish Wells.

Also set to come on stream in
January are online applications,
said Mr Symonette. Bahamians
will be able to apply for their
passports over the Internet,
meaning the entire process will
require two visits to a passport
office instead of three.

Since the government initiat-
ed the change-over to digital
passports two years ago, more
than 20,000 people have been
processed. The government is
strongly encouraging Bahami-
ans to meet the May 2010 dead-
line. At that time, the govern-
ment will cease to renew the
old non-machine-readable pass-
ports — even in emergency cases.

“At this moment, the pass-
port office is doing very well.
We are happy with the delivery
time, even though some experi-

ence a few problems. As time
goes on, it will be more diffi-
cult for Bahamians to use the
old passport,” said Mr Symon-
ette.

“We are encouraging
Bahamians to use the opportu-
nity to apply early. Do not wait
until the summer, when there
will be a rush on the office,” he
said.

Once a new digital passport is
issued, the applicant’s old pass-
port is cancelled. All foreign
visas in the old passport remain
valid until their date of expiry.

Based on the international
system of machine readable
passports, international airports
will eventually stop accepting
the old Bahamian passports,
said Mr Symonette.

He pointed to the subtle
changes already occurring in
international airports, such as
those in the United States. Trav-
ellers are channeled into self
check-in lines that require a dig-

The Bahamas concludes TIEA
negotiations with 23 countries

THE Bahamas has successfully concluded Tax
Information Exchange Agreement negotiations
with 23 countries to-date, and the government
says it expects to exceed the OECD’s required
minimum of 12 signed agreements by the March

2010 deadline.

To-date, the Bahamas has signed 10 TIEAs
with the following countries: the United States of
America, Monaco, San Marino, the United King-
dom, New Zealand, the Netherlands, the Peo-
ple’s Republic of China, Argentina, Belgium

and France.

TIEA negotiations have been successfully
concluded with Germany, Canada, Spain, Mex-
ico, Australia, South Africa, South Korea, and
the seven Nordic countries of Norway, Sweden,
Finland, Denmark, Iceland, Greenland and the



Faroe Islands.

The government said these countries will for-
mally sign agreements once they complete the
internal procedures required for the signing of

vices.”

treaty instruments.

Said the government in a statement: “It is to
be noted that the Bahamas is actively partici-
pating in the international dialogue concerning
the regulation of international financial ser-

It noted that in September of this year, the
Bahamas was elected to membership of the
OECD Peer Review Group; a group comprising
members of a re-vamped OECD Global Forum.

The Peer Review Group is responsible for

developing a programme of peer reviews to mon-

itor progress of the implementation of the tax
information exchange standards among the 90-
plus members of the OECD Global Forum.

“The government is committed to safeguard-
ing this important segment of the Bahamian



economy by ensuring that the Bahamas remains

a well regulated jurisdiction which meets evolv-
ing standards for offering international finan-
cial services,” the statement said.



ital passport to be swiped and
read by a machine. Manual
check-in by agents is becom-
ing obsolete.

While old Bahamian pass-
ports will remain valid as long
as they have not expired, Mr
Symonette said governments
internationally are onboard
with the digital system and it
is at their discretion to choose
or refuse to accept non-
machine readable passports at
any time.

SO NNeIO

IN THE report on the stab-
bing death of Terrone Albury
as he tried to break up a fight at
an Eleuthera nightclub in the
early hours of Monday morn-
ing, The Tribune stated that Mr
Albury was the grandson of the
late Rev Cladwell Armbrister.
This is incorrect, including the
reverend’s name.

The man being held by
police for questioning in con-
nection with the stabbing death
of Mr Albury is the great
grandson of the late Rev Clad-
well Farrington, a well respect-
ed religious minister at
Eleuthera. Rev Farrington was
not related to the homicide vic-
tim.



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an
Na LY,

PAGE 4, WEDNESDAY, DECEMBER 30, 2009

EDITORIAL/LETTERS TO THE EDITOR

(_"\
Na DY,

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Commercial party in residential area

JUST AS fish vendors were allowed to
squat on the Montagu foreshore with no
one paying attention to them until they
became an undesirable problem, so also will
some property owners on the Eastern Road
devalue the area if their commercial prac-
tices are allowed to continue. Now is the
time for decisions to be made. Whatever
laws exist should be enforced and where
laws are still needed to plug the loopholes,
they should be drafted.

At one time our zoning by-laws were tak-
en seriously. Anything east of the Montagu
foreshore was residential.

An earlier generation of Bahamians
would laugh and say that the Eastern end of
the island — the healthier end — was
reserved for Bahamians while the swampy,
mosquito-infested west was sold to the
unsuspecting foreigner. Over time the
swamps were filled in; as a result there were
fewer mosquitoes. The west eventually
became as desirable as the east.

The late Sir George Roberts, president of
the Legislative Council, moved his family
from their Village Road residence, to a new
home that he had built on a magnificent hill-
top waterfront site on the Eastern Road.

It was next door to the late Sir Asa
Pritchard, Speaker of the House of Assem-
bly, who had as his neighbour the historic
Hermitage, built by Lord Dunmore as his
residence between 1787 and 1796, bought
in 1932 by Cardinal William O’Connell,
Archbishop of Boston, and now owned by
the Catholic Archdiocese. It is the residence
of Catholic Archbishop Patrick Pinder.

Sir George and Lady Robert’s home and
gardens were considered among the most
elegant on the Eastern Road, so much so
that the family had to put up iron gates to
prevent taxi drivers from including “Lucky
Hill” in their guided tours.

Since the death of Sir George and Lady
Roberts the estate has passed through many
hands.

It is now owned by a Londoner, and,
according to an advertising teaser on Face-
book, a peaceful residential area has turned
commercial.

Recently it was advertised as a one night
event of a Red Eye tour that claimed it took
in three cities, three parties, one event, one
night.

That one night was December 27th at
what was described as “Lucky Hill Man-
sion.” The one night stand shattered the
peaceful, upper class neighbourhood with
raucous music until after 4 o’clock in the
morning, leaving on the Eastern Road the
next day a wasteland of styro foam cups,
paper plates and offensive litter. To say res-
idents of the Montagu-Eastern Road fore-
shore are angry would be an understate-
ment. Not only are they angry, but they
intend to do something about it.

The police have been contacted. Their



ae : ‘
t J CASOMS



= a * ‘.
\ Greetings

Pease be advised that Executive Motors Ltd. and
Chuality Auto Sales Ltd. will be closed as follows

during the Christmas Holidays

MP has been notified and our e-mail is over-
loaded with residents’ complaints.

It is not clear what type of service is being
offered by the entertainment company, but
its advertisement says its flight takes off at
12.27, boarding time 9pm— however, it fails
to say where one is to board the aircraft. In
its video it sings of flying direct to South
Beach in Miami, taking in New York and
Kingston, and ending Sunday night with the
big event at “Lucky Hill Mansion.” Coach
class tickets for $25, as well as pre-sold class
tickets were available. The advertisement
listed Business Class and First Class. So
whatever it is, it is a money-making com-
mercial enterprise. Unfortunately the imag-
inative entrepreneur chose the wrong loca-
tion on which to establish his money-maker.
It succeeded in destroying a peaceful Sunday
evening with offensively loud music and
equally offensively loud party-goers.

Residents alerted their MP Loretta But-
ler-Turner on the eve of the event to try to
head it off before it started. Mrs Turner
wrote immediately to Asst Supt Ismella
Davis, Officer in Charge of the Fox Hill
Police Station, sending her the link that
advertised the event so that she would be
aware of “what one of the finest Bahamian
residences on the Eastern Road is being
used for.”

Her letter continued: “They plan to par-
ty until 4am and there is a cover fee begin-
ning at $25.

“This is a residential area not zoned for
commercial activity.

“This residence has been used for similar
events in the past and created quite a lot of
disturbing noises for the surrounding neigh-
bours and areas.

“T have already contacted the Fox Hill
Police to alert them and to see if they will
shut this down before it even starts,” Mrs
Turner’s letter continued. “This is a small
step in ensuring that laws are respected and
observed in our communities.”

Mrs Turner said yesterday that ASP
Davis told her that she had the party plan-
ners into the police station and told them
that if they violated the noise level and cre-
ated traffic congestion, the police would
close the party down. According to the e-
mails we have received residents claim that
both were violated.

Mrs Turner than asked ASP Davis to call
the owners of “Lucky Hill” to discuss their
plans for the property. Mrs Turner is now
concerned that she has heard no more from
ASP Davis.

It would be interesting to know if the
owners got a commercial licence to hold this
party on the Eastern Road, and if so who
would have been so slow-witted as to have
granted it. It is now up to residents and
their MP to end these parties if only to main-
tain the high standards of the eastern end of
the island.



BIFF film boldly

tackles emotionally
disturbing issue

EDITOR, The Tribune.

Amongst the fine selection
of international films the
Bahamas International Film
Festival (BIFF) had on offer
this year was a feature
Bahamian film written and
directed by Kareem Mortimer
(intriguingly entitled ‘Chil-
dren of God’) that drew the
larger audience at the Galle-
ria venue. Like many Bahami-
ans I wanted to see what this
film was all about — espe-
cially engaged as I was by the
write-up it received in the
brochure.

“Children of God is the
religious concept that human
beings are regarded by God
as His children and is used by
Christians to refer to human
divinity.” The first part of this
one might understand as the
way a genuine Christian
would view all true brothers
and sisters in Christ — we’re
all “children of God” if we
take Christ for our personal
Saviour. But the latter part of
that statement — the bit
about “human divinity” — is
not so much a Christian as a
New Ager’s claim.

We’re further told that the
film’s protagonists work
through their lives’ dilemmas
against “a backdrop of a
nation grappling with violent
homophobia (fear of homo-
sexuality)” by journeying to
freedom-promising Eleuthera
where the paths of the two
protagonists cross — signifi-
cantly in a church sponsored
townhall-type meeting.

The issue is the nascent if
not already rampant wave of
homosexuality becoming evi-
dent in the country as in much
of the dominant culture next
door (the US).

The feeling one has regard-
ing the youthful artist’s timid
“closeness” is that he’d have
been more at home dealing
with his dilemma in the 60s
in the US with its wildly care-
free ethos of sexual experi-

LETTERS

letters@triobunemedia.net



mentation and that his jour-
ney of self-exploration in
Eleuthera would reveal his
and his friend’s nascent
homosexuality.

The concern of the older
generation has two major
spokes-women — the middle
aged mother of a pubescent
lad whose husband has homo-
sexual liaisons which she’s
only just begun to suspect.
She sees the only way to try
and save her marriage is by
getting her husband to join
her in Eleuthera for the cam-
paign to bring this social prob-
lem to the Government’s
attention.

The other is the Nassau-
based mother of the other
Bahamian youth in Eleuthera
playing with a band but also
exploring the limits of rela-
tionships, uncertain as he is
of his relationship with his
girlfriend back in Nassau.

I hadn’t anticipated the
explicitness and courage with
which the “violent homopho-
bia” referred to in the write-
up would be dealt with by Mr
Mortimer but the homosexu-
ality-related murders that
occurred a year or two ago
have clearly put the phenom-
enon front-and-centre in the
minds of many concerned
Bahamians.

There was also explicit ref-
erence to the general Bahami-
an concern that the Bahamas
not become a prime destina-
tion for “alternative lifestyle”
(homosexual) tourism —
something that also was part
of the dawning national con-
sciousness of this problem a
few years ago.

The explicitness of its treat-
ment certainly accounted for
a significant percentage of the
audience (especially parents)
leaving quite early in the film
presumably anxious that their

children not be corrupted by
the goings on in the film.

It would seem that Mr
Mortimer intuits very realis-
tically how sensitive and emo-
tionally charged an issue he
has broached in this film by
having his timid “hero” get
enough courage by the end of
the film not merely to ques-
tion why people are making
so much of the whole matter
(homosexuality) at the town
hall meeting but to actually
confront one of the local bul-
lies and taunt him by allud-
ing to his homophobia.

To be called a “sissy” pub-
licly in front of his bully pack
of friends was the straw that
broke the camel’s back and
the pent-up emotion explodes
on him and to his terrible cost.
Mortimer’s film has some of
the quality of that taunt, chal-
lenging this society to look a
lot more closely at itself in its
self-examination.

All we can hope is that the
societal response to his chal-
lenge isn’t as violent.

BIFF has once again
demonstrated that it is the
film festival with a distinct dif-
ference — it includes films
(both short, documentary and
feature length) that boldly
focus on certain very emo-
tionally disturbing issues (a
few years ago the focus was
on the atrocious tradition of
female circumcision).

By focusing our attention
on these it is hoped that some
greater awareness and under-
standing (if not outright reso-
lutions) of these issues may
be achieved.

Ms Vanderpool has indeed
made a significant contribu-
tion to this society — not
merely its entertainment but
its edification.

CONCERNED
Nassau,
December 21, 2009.

Welcome to the Real World

EDITOR, The Tribune.

There is an article in the
Economist (December 12th)
about America’s public-sec-
tor workers being coddled
and spoiled.

This it points out is no
longer economically or polit-
ically acceptable and some-
thing has to be done.

This, of course, applies to
most countries and the
Bahamas is no exception.
There is a huge surfeit of
public sector employees in
most countries who are eat-

NASSAU GLASS
COMPANY'S

Vf] So OLIDAY

s 1 \\F« CLOSING DATES

WE WILL BE CLOSING AT

ing up the resources and
those who are the produc-
ers no longer have the abili-
ty to produce enough to pay
for the non-producers (ie
public-sector employees).

The unfortunate part
about this is that because the
public sector employees are
as it says, coddled and
spoiled, and unless politi-
cians have the will to cor-
rect this nothing will hap-
pen.

Public sector employees
generally have guaranteed
employment and guaranteed
pensions that the private
sector employees do not.

Yet their performance is
grossly inefficient and com-
plaints about their attitude
are legion and now I am
talking about the Bahamas.
Phones are not answered,
letters and faxes are not
answered and agreements
are not adhered to.

Of course there are always

oasis of efficiency among the
group but few.

Here for example we wit-
ness customs officers who
are indicted for fraud and of
course they may be innocent
but obviously the govern-
ment does not think but is
afraid to take them to court.
So instead they give a very
bad example to the others
as some are retired with full
pensions.

Where is the political will?
There are many examples
around the world of this and
it is about time that we all
collectively said enough is
enough and we would like
to welcome the public sector
employees to the Real
World — or cut bait and get
out of the boat, I think the
saying is.

PATRICK H
THOMSON
Nassau,

December 20, 2009.

A Bamboo Shack for COB

EDITOR, The Tribune.

Thursday, December 24, 2009 -
Christmas Eve








Closed at 1:00 pm

é Friday, December 25, 2009
f Christmas Day-Closed

Monday, December 28, 2009 -

Boxing Day Observed - CLOSED
Thursday, December 31, 2009 - { f
New Vear's Eve

( m 4 et January 1, 2010 - i
“a, = New Year's Day - CLOSED |
=

Closed at 1:00 p.m





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Thursday December 24
& Thursday December 31

PLEASE NOTE
WE WILL BE CLOSED
Saturday Dec 26,
Monday Dec 28
and Saturday January 2, 2010
in order to give our staff a
well-deserved rest.

OLS tins everyone a very Merry Christmas
& thanking you for your patronage
UEO)UF 4AM eels

Mackey Street 393-8165



To advertise in The Tribune

Call 502-2394



Bahamianizing The College of The Bahamas (Front Porch
By Simon Nassau Guardian, Tuesday, November 22, 2009)
provided food for both intellectual and, perhaps, future
gastronomic consumption.

Noting that both (Bahamian franchise-owned) Starbucks
— which “did not seem the right fit” — and Sbarro “retired”
from The College of The Bahamas before President Janyne
Hodder, Simon suggested that Bahamian entrepreneurs
such as Julie Hoffer (of Passion Tea and Coffee fame) and
Elaine Williams Pinder, the “extraordinarily entrepreneur-
ial spirit behind and owner of Bamboo Shack”, be per-
suaded to replace the “foreign implant(s).”

Acknowledging “legitimate questions as to whether Mrs
Hodder was the appropriate choice to head COB”— includ-
ing her not having a doctorate, which was “more than sym-
bolic ...especially with university status on the horizon” —
Simon said she could boast of a number of accomplish-
ments, and many were “grateful for her service and wish her
well in her future endeavours.”

During Mrs Hodder’s tenure, on May 26, 2009, following
a $3.3 million renovation of its Oakes Field Campus audi-
torium, COB opened a high-tech Performing Arts Centre.

Perhaps in the not-too-distant future, in light of the uncer-
emonious departure of the now-outgoing Mrs Hodder’s
predecessor, COB will get its own act together.

Merry Christmas.

SIMON ARTZI
Nassau,
December 22, 2009.



(hw

THE TRIBUNE

_

(Wn

WEDNESDAY, DECEMBER 30, 2009, PAGE 5



LOCAL NEWS



DAME IVY DUMONT
HOLDS BOOK SIGNING



SENATOR ALLISON MAYNARD-GIBSON talks with Dame Ivy
Dumont during the book signing .

A BRAND new Bahamian book has been launched this
holiday season and the distinguished author was on hand last
week to sign copies at Logos Bookstore in the Harbour
Bay Shopping Centre.

From Rose’s to Mount Fitzwilliam is the memoir of Dame
Ivy Dumont, seventh governor general of the Bahamas and
the first woman to occupy this elevated post.



. a |
CUSTOMERS stand in line to purchase former governor general
Dame Ivy Dumont’s book, Rose’s to Mount Fitzwilliam, at Logos
Bookstore.

r

Legacy of Thaddeus
McDonald lives on in
Kwanzaa celebration

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE legacy of Bahami-
an scholar and Pan-African
activist Thaddeus McDon-
ald is living on in the work
of young Bahamians, who
are organising a Kwanzaa
celebration this holiday
season.

Kwanzaa, the Swahili
word for “first fruits”, is a
cultural holiday celebrated
in the African Diaspora to
coincide with harvest cele-
brations in Africa during
the same season. It was
developed by the African
American community in
the United States during
the 1960s as a celebration
of family, community and
culture.

Festivities around the
globe run from December
26 to January 1. This year,
Rhonda Wright, Director
of Seedlings Place, a sup-
port group for persons liv-
ing vegan and vegetarian
lifestyles, is organising a
social event on December
31.

She is extending an invi-
tation to those who for-
merly participated in Dr
McDonald’s activities.

“T attended his event
about three years ago.
There was a feeling of uni-
ty. It was an uplifting feel-
ing to be able to experience
a part of our African her-
itage and culture in Nassau
at the first time, for me, at
that level. It was good to
see and experience our
elders in that leadership
role,” said Mrs Wright.

| MONTAGU GARDENS

NEW YEARS EVE 2009
SPECIAL MENU

DECEMBER 31, 2009

Menu

Baby Greens with dressing

Roast prime rib of beef with stuffed

Crawfish topped with a sauce
| Roasted Rosemary potatoes

Fresh glazed carrots
Baked cauliflower, with cheese

Dessert

Guava cheese cake

or
Carrot cake

Price $30.00 per person

15% Gratuity

menu, favors forall guest

You. canjalso order off the dinner |
d

Happy New Year
Tel: 394-6347

For reservations

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



“It was an uplifting feeling
to be able to experience a
part of our African heritage
and culture in Nassau at the
first time, for me, at that
level. It was good to see and
experience our elders in
that leadership roll.”



Rhonda Wright,

Director of Seedlings Place

For the past two years
Mrs Wright hosted a small
family event.

She said it was important
to her to bring together the
African community in the
Bahamas to carry on the
tradition championed by
Dr McDonald and others.
Her intention is to grow the
event into a nationally
recognised annual celebra-
tion.

Dr McDonald was bru-
tally murdered three years
ago, just two months before
his planned annual cere-
mony that involved drum-
ming, libation, and feast-
ing.

He was known for organ-
ising various activilics,
including pilgrimages to
Africa, in order to foster
African consciousness in
the Bahamas.

His brother, Madison

McDonald, said he was
happy to know Bahamians
were carrying on the tradi-
tion, knowing how enthu-
Siastic his brother was
about conducting the event
every year.

Rhonda Chipman-John-
son, Vice-president of Aca-
demic Affairs at the Col-
lege of the Bahamas, where
Dr McDonald worked, said
she was looking forward to
attending the event the
year Dr McDonald died.

“It was a celebration of
ourselves as black people:
The whole idea that we
have to be proud as black
people. I think that is what
he celebrated throughout
his life. It was a learning
experience for all and I
thoroughly enjoyed it. I was
planning to go the year he
died, but I guess it just was-
n’t meant to be,” said Dr

Chipman-Johnson.

Kwanzaa is not an Afro-
centric version of Christ-
mas, despite popular mis-
conceptions. It is a non-reli-
gious holiday celebrated by
over 40 million people of
African descent around the
world. This was the mes-
sage delivered in The Black
Candle: A Kwanzaa Cele-
bration, an award winning
new documentary directed
by 27-year-old MK Asante
Jr and narrated by Maya
Angelou. The documentary
highlights the meaning and
principles behind the festi-
val and how it is celebrated
around the globe, includ-
ing in the Caribbean.

Kwanzaa is centred
around seven core African
principles:
Umoja (Unity), Kujichagu-
lia (Self-Determina-
tion), Ujima (Collective
Work and Responsibility),
Ujamaa (Cooperative Eco-
nomics), Nia (Purpose), Ku
umba (Creativity),
and Imani (Faith).

“We want to continue the
celebration to be able to
bring our African brothers
and sisters in the Bahamas
together to celebrate on
common ground regardless
of your religious or spiritu-
al persuasion. It is an
acknowledgment and cele-
bration of our ancestry and
us as black people, recog-
nising what we have accom-
plished over the year, cele-
brating our harvest and
what we will reap in the
next cycle,” said Mrs
Wright. Interested individ-
uals can contact organisers
at seedlingsplace@gmail.com.

HL:
PRE ATU

CHRISTMAS & BOXING DAY
HOLIDAY HOURS

Thursday, December 24, 2009 - 9:30am - 1:00pm
Friday, December 25, 2009 CLOSED
Monday, December 28, 2009 CLOSED

Open for Business
Tuesday, December 29 - 9:30am - 3:00pm

Wednesday, December 30 - 9:30am - 3:00pm
Thursday, December 31 - 9:30am - 1:00pm

NEW YEARS HOLIDAY HOURS

Friday, January 1, 2010 CLOSED
Normal banking hours resume
Monday, January 4, 2010

CLEARING BANKS Bank of The Bahamas Limited
ASSOCIATION MEMBERS = citiBank, N.A. Bahamas
Commonwealth Bank Limited
Fidelity Bank Bahamas Limited
FirstCaribbean International Bank
RBC Royal Bank of Canada
Scotiabank (Bahamas) Limited







PAGE 6, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



LOCAL NEWS

Police probing two armed robberies

POLICE are investigating two
armed robberies that occurred in
New Providence yesterday.

Around 2.08 pm yesterday,
police received a report of an
armed robbery at Tippy's Liquor
Store in the Pinewood Gardens
subdivision.

An employee told responding
officers that two dark-skinned

males, dressed in dark clothing,
both armed with handguns, burst
into the store and demanded cash.

The liquor store and several
patrons, who were in the store at
the time, were robbed of an unde-
termined amount of cash.

The gunmen fled the scene trav-
elling east on Sapodilla Boulevard
in a white hatchback style Suzuki,

license plate number 85679. Hours
later, around 6.14 pm yesterday
police received information of an
armed robbery at the Oakes Field
Shopping Centre.

Gunpoint

Two employees of an undis-
closed business told police they

were about to make a company
night deposit at a bank in the shop-
ping centre when they were robbed
at gunpoint by two dark-skinned
men.

The men, dressed in dark cloth-
ing and wearing ski masks, were
armed with handguns.

The suspects managed to escape
with a company deposit bag con-

taining an undetermined amount
of cash.

The employees reported that the
gunmen fled the area in an old
model gold coloured Nissan Alti-
ma.

Last night police urged anyone
with information about these rob-
beries to come forward.

Police investigations continue.

BANK OF THE BARASTIAS LIMITED
® Bank of The Bahamas .

[IN TERNATIONAL

UNALINT ED COASOWATED STATEMENT OF CHANGES IN EQUI

Forthe tua, months oie Sapemhor 6,
with oon paratines Por che three mae period oneke dd Sopaconber 21, 3008
ibs pened @ Heber ditions

FINANCIAL PERFORMANCE FOR THE THREE-MOSTH PERIOD
ENDED SEPTEMBER 30, 2009



Shore Shore Tress Brtalaed

For the first quarter atthe new financial year the Bank achaeeed Net Income: of BS. millicn or





: Capital Preetians Shares Besnres Ea rabage Tod

$0.24 wenis per common share. Compared to the same period last year, these results represent

sound growgh of 20%, Toll Asses seuiled ar AST44 milli clightly bebo thee mark of AETSH Bualanoe at kaly | 060 5 eo TST . i MMO $ IS

maillion as at Jume 30, 2M4. Poor Einar aaannee LEB ZAI

Dividends on preference shares - - . {281 jo) a

During the review quarter the Bank changed the policy on general provisioning. This is reflected Vigbance an Se paornibas 30, 208s SW ST, Ey BT

m the recognition ot an allocation of Hetlained Earunge in the form of a General Reserve which

represents local regulatory guidelines in sapport of potential credit risk im the long berm. Bulonce at duly |_ on 5 HUTA TASTE B LDdd) & ae 5 ES Es |
. “ Hor Erato: tee at

- se : on . . ee 1 _ as, ot . . ‘graprouion af neta red ¢ arenes Lee

Equally significant is the Bank's conservative approach to short term ordi risk and the Mat galas on remouuurement ci

Chisequcital pecogruhon of new specitic peowsices for hia keaece im the amos of Wet veils eiorande wourtics io fair vole . . 543) : tat1

million. We are cautiously confident thal this tramsaction wall exiricabe the significant credit Balance ot Sept 4 KR) 5 SO © ISNT fC) ee fT SLT NI

wealoness in the Bank's loan poettelio for the corency of this fiseal period

Ay ie hight the Flank oordin@es to perform well we are copniznn af the bros ecomomic brelicacors
which suppest that the Bahamian economy remains weak. Declines in premier sectors across ihe
business lamckeape have caumed high kevela of unemployment which exert direct influence om
commerce Gopansion. Consegueniiy., loam delingwencies remain evsternically leech axl
negatively impacts revenue groeth and husiness oppeepunities.

BANK OF THE BAHAMAS LIMITED

UNAUDITED COSSOLIDATED STATEMEST OF CASH FLOWS

(Expressed in Bahamian dollars)



In light of constraints impesed by the current environment the Bank has moved to continue bo
Sirenathen as hokeee sheet pesulong in an iscreased rk adjusted capilal fal a¢ of Sepiember





40, 2008 of 24% well abowe the mew guideline of 14% to 17% recently introduced by The September 1, September OF,

Cann! Rack Further, the Bank's Liquidity ratio stands al 20% providkeag scund financial Sie pal J

resilience to combat the general eoonomk weakness. Such financial fortification enables ihe ae a . | eee feerveeee

Hank ky continue is ellorts ta eek viable horehing ard) mvesiment oppertunities and péenan CASH FLOWS FROM OPERATING ACTIVITES ; ; _

supportive of providing solutions to cudomers faced with financial challenges at this time. eek arora * 4d 495 # A221
Aad |uatieenis for:

The Bank continues to explore opportunities for future value creation and is therefore pleased to Pbciceraly Tiers (BE BOE L141 anz

Prepon the cuiccesstiel completeon af ihe tratster in-hoise of its credit card plationn Liver ome 2,7 SES +

this change i expected to significantly imprwe operating efficiency. This mitiative is a major Change in operating ssc and abilities OL A2T (2,422, 92T)

strategie milestone, which will allow che Bank to offer a mew range of innovative products cme
Serviggs,

Increase in loans ond athamoss 1 CLSMe rs, et
(Deertasc increase in deposits [rota custetiers id banks

Net cash (peed in prov kded by operating actieRive

(13,145,025)
(21275, 910)
(30444, 7871

(13,020,301)
73, 264,2Ht
. 2h 3,497
We enilinue Lo recognize (se ellectivencs of cur omploveds and mamagenenl Ue foresaght of
our Directors as they in comtinue oo guide us, amd the undiminished suppom of cur ever

- i in chee (CASH FLAWS FROM INVESTING ACTIVITIES:
cxpanding: cushanecrs, mdivadual aed institutional mca,

Aquisilion of property and cqpapineed 5 (S57 328) §

(PHO ath
(1,507 Cp

Porches: af investment spcrties

(337 328]



Net cash used in investing activities



CASH FLOWS FROM FINANCING ACTIVITIES:

Payal J. 1, Phe Weenie Dividends om prelereace shares 5 : Ss (281 250}
Managing Director Incresa: in enbenes! poryable on bonis Ol 1 30 -
Met cash provided beyijused in} financing activities ee) 10 (OBL 2Saip
BANK OF THE BAHAMAS LIMITED Net (decrease increase in cash and cash equivalents 14, bed, De
(Cash and cash oquivalents, beoeening of year 1a? Re
UNAUDITED CONSOLIDATED BALASCE SHEET Cash and cavk equivalents, cod ef period 5 a6 290 44



BASE OF THE BAHAMAS LIMITED
Sciocied Explanatory Notes to the Unaudited Conamidated Financial Statemcnts

(Expressed in Bakainian dol hers)



September 3, June 3b,
Dit 2iKNF For the perked ended September 30, 20s
(Expressed in Bakernian Dollars}
ASSETS Ll. General Information
Cash and asco wah The Centre! Rank T1BI LAR TU abs 1ST
Dese from banks 68,144.54 [IM 6 12, Sates

Bank of the Bahamas Lineted (ihe “Bank }, trading as Bamk of The Baharias
Incrmmional is incerporsted urder the laws of The Commenwealth af The
Bohomes, The Bank is licensed under the provisions of the Bank ancl Trust
Companies Regulations Act 2000), The Bamk is ako licersed os an authorized

Inwcstimbent securities
Loans and advances (0 cusiomers, net
[AEST prcperty

51), 704,054
STO0SH a 56
3,870,182

S679, 784
S556) 2 1k
3 RTH ALS?

Che : 0,163,931 5 Aa : ; : a :
—— i es i. iT dealer pursuant to the Exchange Control Regulations Act. The Bank is bolder of
open PTH, | Bf : c : os ae pe .

Prope Ty ae equIpmeTit 4, il ' - ‘ “lk a broker dealer license from the Secunties Commission.

Intangible sesets, met 4,266,573 a,37K 289

MOTAL 145TH TES TSH PP9, TFT

‘The Hank’s shares are publicly traded and listed on The Bahames Intemational
Secuntis Exchange. Uhe Gowemment of The Commonevalth of The Bahamas
andl The National lnsunmce Board aan S01 of the eed shares, The Perna Legs
shares arc owned by approximately 4000) Bahansian sharchedders. The Banks

LIABILITIES

Deposits from cescamer: and banks 566,815,268 SRE MIRO | Fe





Other borowed funds 37 (HHH 27 (HL head offies is located at Claughton House, Shirley aml Charkoite Siresis. The
Cheques and other items in traersit 0713, 116 7.661700 registered office is located at Sassoon House Shirley Street, Victoria Averue,
Qeher lidhilities 860,202 7,563,086 Nassau, The Bahamas,
Deferred loan fees 3,070,736 4,011,254
Total liabilities eas ae 2, ‘Signiffcant Accounting Palicies
en The Hitcant ac Ing policie d heds of ¢ ubkn followed im the
Share capital uyireee meres endeeration of news inueriny consolidated financial ‘anna ae ia Sia a
Share premium 28,587, B bf 2B, SET, Bo thease folleeed in the Php eral af the anna cemaslichted finanen| statements
Treasury shares (30,244) (S244) ot the Bank for the Wiener aided Jume 30, MM with the eption of those noted
Reserves 44M6,965 22,654 below. The annual consolidated financial statements are prepared in aceordanece
Retained camings 35,021,741 33,255, b8 with Internation! Financial Reperting Standards ("IFRS") and under the
Total eajuity 117642318 DABS 2 bt historical cost comvention, as modified by the revaluation of certain financial
TOTAL 745 TRO TES TSR 2OU, [TE assets and liabilities and investment property that are required do be remewsured ai
estimated fair value.
BANK OF THE BAHAMAS LIMITED
M48] Presentation of Finance! Statements
US ALINE CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME The revised stmdanl separates camer and non-owner changes in equity. The
Slater of changes int equity ne linches milly detasle ot Draations wrth (AATHETS,
For the three months ended September 30, 2009 with nom- wath comgeratives forthe thece asonth pericad ended September 30, 2008 companent of equity. In addition, the standard tnteduces the statement of
(Expreseed an Hahonian dollars) comprehensive income: it presents all items ef recopnized income and expense, in
He Me one singke statement,
Toul interest Income INIT 275 13,045,307 fener! Credit teserve
Tonal Interest Expense S08 1301 6 LOG 01 Prev iois |; the Bamk reaorded all credit reserves as a valuation allowance agninest
Met Inerest! Revenue &,793, 762 TS59,195 loins and advances to customers. During the first quarter the Bank established a
general credit reserve os an appropriation i retained eamings. Im circumstances
Feea eal exrrrira aac Pacer: o1 1,354 1tes 444 where the Central Bank guidelines and regulatory rules require provisions in
Fees and commission experse L33.008 24,952 excess of those calculated under IFRS, the difference is accounted for as an
Met fees amd commission imo ‘TSH Aah 100381 apprapmation of retamed camings amd is included in a mon-desiributeble credit
reser In retained earnings.
Onher Opera ling income ank, 172 L4sT 21h ~
Total operating income SAMLS20 10,036,790 i. Provision for Loan Losses
Credit loss expense, met 1281485 (396595) . ;
2M SNES
Met operating Income FT eS 42S At beginning of year O72 85 8,220, 745
Amount written-off (3th, 1825 C104 eS)
Operating Cap es 6 hh 220 670 244 Recoveries 5 Fad .
Pet Lancome Aft 3095 DAML Provision charged to expense 2655,753 500,585
Policy change reflecied in income statement Sl) S47 -
‘Other eomprehcasive income Provision at the end of period TER LOTR 5712645
Met gain on available-for-sale financial assets 24271
Tol comprehensive income for the period int aca LARA 4, Cash and Cash Equis alents
EARSISOS PER SHARE CALCULATION: 2009 SIME
BET DMOCEME £ ions gua & 2430921

PREFERENCE SHARE DPV IDEMD
SET IMOOME AW ALLABLE To

COMMON SUAREVOLDERS S
WELGHTED AVERAGE NUMBER OF

4) 1S
—— Cash & 6.604375 & 6,756,122

ha 144054 125 461,213
T4748 429 132,207,995

(hee from Bonks

Liis193 § :
Cosh and due from Bonks

L540,471

COMMON SHARES 14406 145 (S506, 045 Account Gi0h The Central Rak of The Aabeenas 25 207 314 54073 554)
FARNIMGS PER SHARE 5 a4 & 16 $99,954,742 S 186.291.4904



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&

THE TRIBUNE



LOCAL NEWS

&

WEDNESDAY, DECEMBER 30, 2009, PAGE 7



South Eleuthera’s Farmers
Market a huge success

TARPUM BAY,
ELEUTHERA - Saturday,
December 12 marked the
first ever Farmers Market in
South Eleuthera and all
involved agreed that the
event was a huge success.

The market was held at
the Emergency Operations
Centre of SEEP (South
Eleuthera Emergency Part-
ners) from 10am to 1pm and
more than 150 people
strolled through to shop dur-
ing the beautiful sunny day.

The goal of the market
was to showcase farm-grown
products and locally hand-
made crafts available in
Eleuthera. Known once as
the breadbasket of the
Bahamas, Eleuthera is pro-
ducing less and less produce
and relying more on
imports, which threatens
food security on the island.

The Island School part-
nered with two non-profit
organisations, the Cape
Eleuthera Institute and
Island Journeys/SEEP, to
change this trend.

“We are really thrilled
with the success of this first
market,” said Shaun Ingra-
ham, director of SEEP and
Island Journeys. “People are
already asking if we can
have one next week so there
is an obvious need and
opportunity here.”

The market celebrates the
production of “Made in
Eleuthera” food and crafts
and encourages the growth
of local sustainable agricul-
ture.

The individuals and busi-
nesses that participated
included: Bishop Dan
Nixon, Lucille’s Bakery,
Coco Plums, Rosey’s Cre-
ations, Gracefully Creations,
Nature Boys Nursery
Charles Strachan Straw
World, DJ’s Bottled Toma-







CHARLIE STRACHAN’S straw work.



toes, Debra Moxey’s
Ceramics, Philip McPhee
and Collective of Farmers
of Tarpum Bay.
Fundraising and aware-
ness activities included t-
shirts sold by SEEP and the
Cape Eleuthera Institute
(CED); and CFLs, fish poop
fertiliser and flyers about
conservation and saving
money at home, distributed
by The Island School.
“This farmer’s market is
a great opportunity for us to

SEE page 12

Photos by Andrea Whittle

LOCALLY grown pumpkins, ae
produce and bottles of sour. wey

ORNAMENTS on sale.

bahamas Cream of Asparagus Soup
Cr
Caesar Salad

Lobster Thermidar
Or

12 ox T-Bone steak

ed ween

Grilled Vegetable Medley
Herb Roasted Potatoes



Red Velvet Cake

Live Band & DJ
Great View of the Frrewarks
Champagne Toast at New Year's

$55.00 in advance
$75.00 at the Door

Tickets on Sale now!

Green Parrot East Bay St.
322-9248



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THE TRIBUNE



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PAGE 8

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WEDNESDAY, DECEMBER 30,

WA



ts

2009



LYNDRICK Storr evades the Cherubims defence with a mid-air pass in the Pacers 53-34 win yesterday
at the Providence Holiday Classic.



USA Select
tops Cobras

AS THE Providence Holi-
day Classic winds down and
moves into its final day, teams
made late surges toward
tonight’s title run.

The Pool Championships
will get started today at 9am
with the consolation third
place game at 7pm, followed
by the championship game at
8:30 pm.

USA SELECT - 62
CC SWEETING COBRAS - 48

e Featuring a duo of
Bahamian players in the
frontcourt and another with
Bahamian roots orchestrating
the action at the point, the
Houston, Texas-based squad
continued to plough their way
through the competition.

Danrad Knowles finished
with six points, nine rebounds
and four blocks, Eleuthera
native Alex Cooper added 10
points, seven rebounds and
two blocks and sensational
point guard added 16 points
and five assists to lead the
Select team.

Henry Riosco scored the
game’s opening basket for the
Select team, but the Cobras
responded with a 14-1 run to
take a commanding lead
before the Selected Squad
closed the quarter with a pair
of late field goals.

The Cobras’ lead grew to
as much as 14 in the second
quarter when Angelo Lock-

Pacers beat Teleos 53-34,
tourney moves into final day

hart dished an assist to Gabi
Laurent in traffic to give his
team a 20-8 lead with 2:43 left
to play in the half.

Riosco who finished with a
team high 17 points, fore-
shadowed what was to come
in the second half when he
scored the final six points of
the half to make the score 24-
16.

In the third, Rose, the son
of Bahamian basketball leg-
end Lynden Rose, and top
ranked point guard for the
recruiting class of 2012, assert-
ed himself on the offensive
end.

He opened the quarter with
a three, and his second shot
from long distance tied the
game at 24.

Andre Prince’s fast break
lay-up gave the US team their
first lead of the game.

Prince followed with a
three on the ensuing posses-
sion and Rose capped the run
with a highlight reel assist to
Knowles which thread the
needle between the legs of
two defenders.

Cooper scored the US
team’s sixth three pointer of
the quarter to give his team a
39-27 advantage.

With Lockhart penetrating
at will and Laurent, who fin-
ished with a game high 18
points dominating in the
paint.

The US team outscored the
Cobras 25-13 in the quarter
to take a 41-37 lead into the
final period.

Patrick Davis scored two of
his 10 points to open the quar-
ter and pull the Cobras with-
in two, but Riosco respond-
ed with a three pointer and
sparked another run.

Prince gave the Select team
a 52-42 lead on a breakaway
lay-up with 3:14 left to play.

Rose thrilled the crowd
over the game’s final few min-
utes, routinely dribbling
between full court traps and
making a trio of three point-
ers late in the game to pull
away for the final score.

RM BAILEY PACERS - 53
TELEOS - 34

Leading by just one at the
half, the Pacers dominated
the final two quarters to pull
away late for the lopsided
win.

SEE page 10

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TRIBUNE SPORTS



SPORTS

WEDNESDAY, DECEMBER 30, 2009, PAGE 9





ee

ss ° nore

Knowles is Tribune Sports’

MARK Knowles surges to the top of the chart as The Tribune’s Male Athlete of the Year.

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

A WIMBLEDON mixed
doubles title and appearances
in the final of the both the
men’s singles at the Aus-
tralian Open and the US
Open enabled Mark Knowles
to surge to the top of the chart
as The Tribune’s Male Ath-
lete of the Year.

Ina year that saw two track
and field athletes fall shy of
winning a medal at the 12th
TAAF World Championships
in Athletics and two profes-
sional boxers missed out on
their opportunities to win
major international titles,
Knowles was steady and con-
sistent in his performance on
the ATP tennis tour.

The highlight of the year
for Knowles came in July
when he and German Anna-
Lena Groenefeld teamed up
to win their first Wimbledon
mixed doubles title.

Knowles, 38, has now inked
his name on all four Grand
Slam titles, although he and
his men’s doubles partner
Mahesh Bhupathi from India
missed the opportunity to
cash in on another crown at
the Australian Open in Janu-
ary and the US Open in Sep-
tember.

In April, Knowles and Bhu-
pathi also reached the final in
Barcelona, but they were
unable to pull through. Their
only victory came at the
Rogers Cup in Montreal,
Canada.

As a result of failing to win
the big ones, Knowles and
Bhupathi have severed ties
after playing together for the
past two years. Knowles will
now team up with American
Mardy Fish, whom he part-
nered with to win a title in
Memphis.

ii. Fresh from winning the
Olympic Games’ bronze
medal a year ago, Leevan
‘Superman’ Sands came with-
in .4 inches of returning to the
podium at the 12th IAAF
World Championships in
Athletics in Berlin, Germany
in August.

Last year’s Male Athlete of
the Year slipped to number
two when he got dropped
from the bronze medal spot
by Cuban Alexis Copello in
the sixth and final round of
the final.

Sands, who celebrated his
28th birthday on the day he
qualified for the final,
bounced back at the
IAAF/VTB Bank World Ath-
letics Final in Thessaloniki,
Greece in September with a

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silver medal.

Sands eventually finished
the year with the tenth best
mark on the [AAF chart.

ii. Chris ‘Fireman’ Brown
painfully remembered how
American David Neville
dived across the finish line to
deny him a chance to cele-
brate with an Olympic bronze
medal last year.

At the World’s, Brown was
in an unique position to
redeem himself, only to once
again be shut out when he
ended up in fifth place in the
men’s 400 final.

Brown, 31, had to settle for
third place on this year’s Tri-
bune voting list, although he
too stormed back at the
World Athletics Final for a
silver medal.

The national record hold-
er and national champion had
the tenth best time all season
of 44.81 seconds.

iv. Ramon Miller closed out
his two-year sting at Dickin-
son State by repeating as the
NAJA Indoor 200/400 cham-
pion as well as the outdoor
champion to secure the fourth
spot.

Miller, 22, came home and
took Brown to the line in
placing second at the
BAAA’s Nationals before he
went to the World’s and was
just shy of reaching the final
of the 400 when he posted a
personal best of 44.99.

That time put Miller 16th
on the IAAF’s list, even
though he trailed newcomer
Latoy Williams (NJCAA
indoor bronze medallist and
outdoor champion), Brown
and Andrae Williams. Both
of the Williams from Grand
Bahama got injured and was
never able to show their true
colours.

v. Under new management,
Meacher ‘Pain’ Major round-
ed out the top five Tribune’s
list with the three fights he
had at the Convention Center
in Buffalo, New York.

The 28-year-old lightweight
opened up with a sixth round
technical knockout over
American Kevin Carmody on
February 20. Four months lat-
er, he returned to the Big
Apple where he and Ameri-
can Michael Clark ended up
with a “no contest” result.

Apparently, Clark was
unable to finish the bout for
the vacant NABA lightweight
title two minutes and 14 sec-
onds into the first round due
to an accidental foul.

But after a protest lodged
by his management team,
Major was awarded the title
and he was elevated to num-
ber 15 in the WBA ranking.



Then in November, Major
defended the title against
American Dorin Spivey, only
to be TKOed 52 seconds into
the fourth round.

Honourable mention goes
to NBA Developmental
League players Bennet Davis
and Mitchell Johnson; golfers
Lemon Gorospe and Keno
Turnquest; bodybuilders Joel
Stubbs and James ‘Jay’ Dar-
ling; Latoy Williams and
Andrae Williams; hurdler
Shamar Sands; boxers Jer-
maine “Choo Choo’ Mackey
and Sherman ‘the Tank’
Williams; Davis Cupper
Devin Mullings; swimmer
Vereance ‘Elvis’ Burrows;
softball pitcher Edney ‘the
Heat’ Bethel and volleyball
player Renaldo Knowles.

i ES SIL EEN ILM)
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PAGE 10, WEDNESDAY, DECEMBER 30, 2009

_

SPORTS

(ln

TRIBUNE SPORTS



Sportsability Bahamas
Set to become new
annual sports festival

By AVA TURNQUEST
aturnquest@tribunemedia.net

THE ACTIVE leisure com-
munity can look forward to a
new annual sports festival
promising to unite and sensi-
tise Bahamians towards the
disabled community.

Sportsability Bahamas will
be a joint venture between
Adventures Unlimited
Bahamas and the Florida Dis-
abled Outdoors Association.

The team officially present-
ed their intent to Minister of
State for Youth and Culture
Charles Maynard yesterday
and have been guaranteed
government support in their
endeavours.

President of Adventures
Unlimited Bahamas Jerome
Thompson was the first blind
Bahamian to sail around New
Providence. Mr Thompson
noted that it was this experi-
ence and those of its kind that
formed the ‘bedrock’ for his
organisation.

The event will feature
indoor and outdoor activities
such as art experience and
dancing, basketball, martial
arts and laser tag shooting,
combined with a resource
expo with information booths



PRESIDENT of Florida Outdoors Association David Jones (right)
and President of Advetures Unlimited Bahamas Jerome Thompson
meets with the press and the Minister of Youth Sports and Culture
yesterday to address some upcoming events.

on the latest products, active
leisure programmes and dis-
ability services.

Sportsability is a multi-day
event locale to Florida that is
tailored towards accessible
inclusive recreation and active
leisure for all persons. This will
be the first time the event will
be held internationally.

FDOA President David
Jones maintained: “People
with disabilities are just that-
people. They have the same
needs and desires. We are
extremely honoured to be a

Legal Notice

NOTICE
BAYANDA VISTANA INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
SILVERSTREAK HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PEARINGLY

INVESTMENTS PTE. LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

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

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part of this wonderful oppor- }
tunity. ” :
The festival is set for Sep- :
tember 2011 and will afford }
both the disabled and abled
community access to thera- :
peutic recreational pro- }
grammes. :
“We want to chop down }
some hills in the psyche of ; |
Bahamians,” added Mr }
Thompson. “I want to see us }
become more sensitive. This }
will not be a one time thing.”
The event welcomes both }

private and public sponsorship. : ANDREW Forbes loses the ball among a crowd of defenders

Legal Notice

NOTICE
TRAMPLWORTH

INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
YARMOUTH INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PLUTUS ENTERPRISES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)



USA Select
tons Cobras

FROM page eight

The Pacers led 22-21 at the
half but outscored the Cheru-
bims 31-13 in the second half
to advance.

RM Bailey opened the third
on an 8-2 run with an efficient
6-6 performance from the line
led by Stephen Strachan Jr.

After he sat half of the first
quarter and the entire second,
Strachan forced the issue in
the third and scored both at
the line and beyond the arch.

Strachan’s baseline three
pointer with just over a minute
left to play in the quarter gave
the Pacers a 38-30 lead headed
into the fourth and gave him
11 points in the quarter.

The Pacers took their first
lead of double figures on a
putback by Dshon Taylor for a
40-30 advantage.

With a defense that held the
Cherubims to just one field
goal in the quarter, the Pacers
forced a series of turnovers
which translated to easy bas-
kets and a balanced scoring
attack.

Strachan finished with a
game high 13, Andrew Forbes
added 11 and Taylor added 10.
Renaldo Smith led the Cheru-
bim’s with 10 and Spencer
Lewis added nine.

USC

For the stories behind
the news, read Insight
on Mondays



Legal Notice

NOTICE
YINLEYTON INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
TAMBERTON INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
JINZHOU VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)







&

THE TRIBUNE

WEDNESDAY, DECEMBER 30, 2009, PAGE 11



LOCAL NEWS





Tiger Wootls

FROM page one 2

wrote, adding that millions
of shareholders were affect- ;
ed. :

released with the study.

Woods, believed to be the }
world's wealthiest athlete }
who was estimated to earn }
about $100 million a year in }
endorsements before his }
confessed on }
December 11 to "infidelity" :
to his Swedish wife Elin
Nordegren. He announced }
he would take an indefinite }
break from golf to try tosave }

troubles,

his marriage.

Some of the star golfer's :
main commercial sponsors }
have backed away from him }
as a result of the scandal. }
Others, while standing by }
him, have said they are eval- }
uating their future relation- i

ship.

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.



fr! '

"Our analysis makes clear :
that while having a celebrity :
of Tiger Woods’ stature as :
an endorser has undeniable :
upside, the downside risk is :
substantial, too," Stango, a }
professor at the UC Davis :
Graduate School of Man- }
agement, said in a statement :

er 4%
wa At 15,

hea
ober Wet oma eS
3 hn ‘
L 5

MP Malcolm Adderley ‘is

FROM page one

quish his seat in favour of an appoint-
ment on the Bench.

However, as sources within the
FNM have pointed out, such a move
would not be politically empowering
for the party as it would still have to go
out and win the Elizabeth seat the MP
would have had to relinquish.

Therefore, the source said, it makes
profound sense for the MP to use the
political currency he has to barter for
whatever post the government can
make available to him in return for
his seat.

“The PLP is actively campaigning
an individual in Elizabeth so they can
hardly expect the man to believe that
they want to talk,” the source said.

“Leaving to go to the judiciary





















he '
ee |.

al

=

LIES 5 |

makes absolutely no sense
because the country is not
able to handle a by-election
at this time. And if he wants
to send a strong message to
some on his own side, what
better place to make it from
but the other side?” he
laughed.

Currently there is a com-
mittee that has been formed
by the PLP’s National Gen-
eral Council (NGC) to meet
and speak with Mr Adder-
ley to ascertain whether the
MP intends to leave the
party for the FNM.

MALCOLM ADDERLEY



Business Obie Wilchcombe
and former Senator Sean
McWeeney.

However, after numerous
attempts by committee
members to meet with the
MP, it is claimed that Mr
Davis has now had to for-
mally write to Mr Adder-
ley who up to this time was
“hard” to catch up with.

While this came as news
to some within Mr Adder-
ley’s camp, a source close
to the MP said he was quite
surprised that their efforts
had failed as the MP was

This committee, which is chaired by
PLP Deputy Leader Philip ‘Brave’
Davis, includes other party names such
as the PLP’s Leader of Opposition

quite “easy to access.”

As it is well known within in the
PLP, Mr Adderley has been very vocal
about the “mistreatment” he claimed

NU INE A

rs

ie

Pl

Because it lasts up to 6 times longer!*

*vs, Carbon Zinc Bateries

contemplating joining FNM’

he endured under party leader Perry
Christie.

At the time, it was reported that
Mr Adderley had been promised the
post of Attorney General prior to the
PLP’s 2002 election. However, upon
gaining the government, Mr Adderley
was reportedly called into the then
PM’s office and offered the post of
Speaker of the House of Assembly.

After an exchange of “heated”
words, it is alleged that Mr Adderley
was then offered the post of Chair-
man of the Water and Sewerage
Board — a position he also turned
down.

Following the PLP’s loss at the polls
in 2007, Mr Adderley took up the post
of Chairman of the Gaming Board
under the FNM government, a posi-
tion he continues to hold.

Prison officer
accidentally
Shot on duty

FROM page one

ing the officer in question is in
stable condition at the
Princess Margaret Hospital
and that the injury is not con-
sidered to be life threatening.
The police said the matter
“appears to be an accident
which occurred during a rou-
tine shift change” but added
that investigations continue.

POLICE LEAVE the prison
yesterday.

Felipé Major/
Tribune staff



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



(W) ©
LY

PAGE 12, WEDNESDAY, DECEMBER 30, 2009



LOCAL NEWS



South Eleuthera’s
Farmers Market
a huge success

FROM page seven

share more about our conservation goals and to encourage
people to eat and buy more locally,” said Karla Cosgriff of
CEI. “We hope the market expands to include more vendors

tainable food production in Eleuthera.” > ae. BS

and can be used to educate people on the possibilities of sus-

Currently the event is scheduled for the last Saturday of SHOPPERS at the market
each month with the goal of more markets during peak
agricultural seasons.

The Island School is a three-month semester leadership
programme for high school students. Participants come
from all over the world to learn about the tropical marine
environment and Bahamian culture.

The Cape Eleuthera Institute is a tropical ecology research
facility which hosts educational programmes and finds solu-
tions for resource management issues.

Island Journeys/South Eleuthera Emergency Partners
(SEEP) is a citizen led group committed to providing emer-
gency services to the citizens of South Eleuthera.

PS VART

‘Exercise safety and courtesy everyday"

IM PARTNERSHIP WITH

CALL BTC (225-5282) 3

: a
MiAeeceaeunerco MA Cum cece ee in sem aol ome

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



BISHOP NIXON and corn truck

Police confirm body























is that of missing man

FROM page one

been no word from him
the following day police
were informed and an
online campaign was
launched on social net-
working site Facebook to
help find him.

Nearly 1,000 people
pledged their support to
the cause, and rumours of
his death spread when the
body was discovered in
Sands Road.

But Mr Farrington’s
family did not lose hope
until police from the Cen-
tral Detective Unit con-
firmed the remains were
his on December 23.

Ms Ferguson said: “We
still really can’t believe it,
it is hard right now to
understand exactly how
this could happen

“We don’t know what
happened, we really don’t
and the police are still
investigating.

“It’s still a shock. Every
time I talk about it I just
break down.

“He was just so special.
He was family orientated,
he loved his friends, and
everybody just loved Fran-
cis.”

The youngest of
Rudolph and Rosalie Far-
rington’s six children
excelled in academics and
sports throughout his aca-
demic life and he moved
easily from CW Sawyer
Primary School, to AF
Adderley Junior High
School, and then the exclu-
sive St Andrew’s School
where the outstanding stu-
dent was awarded a full
scholarship and graduated
as deputy head boy and
Valedictorian in 1999,

Among the numerous
awards he received, Mr
Farrington became the
first Bahamian to win a full
scholarship at a Canadian
university.

He graduated from St
Thomas University in
Fredericton, New
Brunswick, Canada, with a
BA in Economics in 2003
and went on to earna
Masters degree in Business
Economics at the Wilfred
Laurier University in
Ontario, Canada, before
accepting a job as a trans-
fer pricing associate for
Pricewaterhouse Coopers
in Calgary.

The proud Bahamian
who had represented his
country in basketball dur-
ing his youth returned to
Nassau in 2005 to work as
an economist with the
Securities Commission and
then accepted a position at
Transfer Solutions
Providers Limited before
resigning in April to return
to Canada and study for

the Certified Financial
Analyst (CFA) exams.

It was during a short vis-
it with his family in Nas-
sau that he disappeared.

Ms Ferguson said:
“Francis was being sought
to fill job vacancies both
locally and in Canada right
up to the time when he
was discovered missing.
Words alone cannot
explain how much we love
and miss this special son,
brother, friend and human
being.”

All who knew Mr Far-
rington describe him as a
warm and loving, ambi-
tious and hardworking
individual who could not
help but succeed in all
areas of life.

They have flooded the
Facebook website created
to help find him with writ-
ten messages and pho-
tographs in tribute to their
friend since they learned
of his incomprehensible
death.

Tania Blanchette wrote:
“That smile, that laugh,
that face; I can't believe
that this world could take
away someone as beauti-
ful and wonderful as him, I
just can't.

“This is grater than a
tragedy, it's truly paralyz-
ing to think that I will nev-
er see or hear from him
again.”

Indira Beryl Martin
wrote: “Francis, beloved
brother and friend to me
and so many others: you
will always live on in my
memories and carry my
eternal admiration. I will
never forget your giant
laugh or your giant heart
that had space for so many
people. Live on brother as
I know you have not
departed, only transcend-
ed. Love and miss you.”

St Thomas University
(STU) student Tara
Maclsaac said: “I just want
to let his friends and fami-
ly know that my thoughts
and prayers are with you
all. Francis was an amaz-
ing person and I will
always remember his
smile.

“Tt has shocked those of
us who knew him from
STU to no end and we
hope in the future we will
have answers to this
tragedy.”

A funeral service will be
held at St John’s Native
Baptist Cathedral in Meet-
ing Street, Nassau, at 10am
on Tuesday, January 5.

Tributes to him can be
sent to the family for inclu-
sion in a memorial booklet
if submitted by noon
today. Please email your
memories to iriegyrl@hot-
mail.com or kevinj_Far-
rington@hotmail.com.





THE TRIBUNE



aU ETE Tit
HT
EL ETT tS
key to 2010
performance

* Arawak Homes
chairman says ‘two
material overhangs’
for Bahamas are fate
of $2.6bn Baha Mar
project and
government reining
in public spending

* Expects 2010 to be
better year for
housing developer,
although public policy
response to Cable
Beach work permits
critical

* S&P downgrade
raises ‘legitimate
questions’ about
internal Bahamas
focus





FRANKLYN WILSON

By NEIL HARTNELL
Tribune Business Editor

While Arawak Homes
expects to construct more
properties and enjoy a more
prosperous 2010 compared to
this year, the developer’s
chairman yesterday said there
were two “material over-
hangs” that could impact the
Bahamian economy’s near-
term performance - the fate
of the $2.6 billion Baha Mar
project and the need to rein in
Government spending.

Franklyn Wilson told Tri-
bune Business that Standard
& Poor’s (S&P) pre-Christ-
mas decision to downgrade
the Bahamas’ long-term sov-
ereign credit rating had raised
“legitimate questions” about
how well this country was
“managing its own affairs”,
suggesting that an internal
focus would be key to this
economy’s performance in
2010.

Emphasising that he was
“praying for better fiscal man-
agement”, Mr Wilson said
that regardless of the exter-
nal forces impacting the

SEE page 5B

Si

WEDNESDAY,



DECEMBER 30,

CSS

2009

SECTION B e business @tribunemedia.net



ROYAL 3 FIDELITY

Money at Work

RBC/ Fidelity Joint Venture Company

NASSAU
(242) 356-9801

FREEPORT
(242) 351-3010

MARSH HARBOUR
(242) 367-3135

royalfidelity.com



Bank considers New PLP Senator:
Year preference issue

* Bank of the Bahamas International sees profits up 29% in 2011
Q1, with capital base increasing by $15m on average over last

eight years

* Eves credit card platform for export, and expects to
commence talks with one credit card firm in 2010 first quarter
* ‘Fairly confident’ not have to take any further provisions
beyond initial $2.655m
* Expects headquarters construction to start in 2010

By NEIL HARTNELL
Tribune Business Editor

Bank of the Bahamas Inter-
national’s managing director
yesterday indicated the insti-
tution might launch a new
preference share issue in the
New Year to further fortify
its capital base, having
increased shareholder equity
by an average $15 million per
year over the last eight years.

Speaking after the BISX-
listed institution had experi-
enced a 29 per cent increase
in the fiscal 2011 first quar-
ter’s net income to $3.665 mil-
lion, compared to $2.83 mil-
lion the year before, Paul

McWeeney said Bank of the
Bahamas International was
assessing various strategies for
financing future growth/lend-
ing opportunities.

“We’re looking at various
options,” he told Tribune
Business yesterday. “We’d
like to reshape the funding
side of the balance sheet as
best we can. Preference shares
are not the best route to go,
but are the most attractive in
the current economic climate.

“T suspect there could be a
new offering in the New Year,
but preference shares are not
the ideal route for the bank to
go because it’s very expen-
sive. But right now, it’s the

Costs to rise $3.5-Sm from
Abaco plant's ‘fuel switch’

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia. net

Opponents of the Bahamas
Electricity Corporation’s
(BEC) $105 million Abaco
power plant are arguing that
the project’s Environmental
Impact Assessment (EIA), by
Florida-based KES Environ-
mental Services, contains
numerous inaccuracies and
inconsistencies.

President of Responsible
Development for Abaco
(RDA), Clint Kemp, said the
EIA, which is available on the
Bahamas Environment, Sci-
ence and Technology (BEST)
Commission, asserts that the
power plant construction site
was two miles from coastal
areas.

However, aerial pho-
tographs of the site and a fly
over conducted by RDA, on
which it was accompanied by
‘Tribune Business, showed the
coast to be only a few thou-
sand feet from the site of the
development.

“Tn addition, no impacts are
anticipated as a consequence
of the operations of the main
power plant facility based

Broker's $25m collapse
‘struck’ from indictment

By NEIL HARTNELL
Tribune Business Editor

An investor accused of
defrauding two Bahamian
brokerage houses out of a col-
lective $29 million has won a
partial victory in the US
courts, after a judge agreed
to strike out a part of the
indictment alleging that his
activities caused one of those
firms to collapse into liquida-
tion.

Justice Robert Kelly, sitting
in the US district court for
eastern Pennsylvania, ruled
that the US governments alle-
gations that George Geor-
giou’s activities caused the $25
million collapse of Caledonia
Corporate Management, the
Bahamian brokerage firm, be
“stricken” because they were
potentially prejudicial to the
Canadian investor’s defence.

The words ordered
removed from the indictment
stated that “because Caledo-
nia was unable to cover those
massive losses, the firm could

Investor accused of
defrauding two
Bahamian brokerages
of $29m, and causing
Caledonia slide into
insolvency, wins partial
pre-trial victory

no longer operate and was liq-
uidated”.

The judge made this order
in relation to various motions
filed by Georgiou in a bid to
dismiss the February 12, 2009,
case brought against him by
the US government and Fed-
eral Bureau of Investigation
(FBI), who had accused the
Canadian of “leading an inter-
national securities fraud con-
spiracy involving the manipu-
lation of the stocks of four
publicly traded companies

SEE page 6B

upon its distance (two miles)
from the coast,” the EIA said
under the general heading
“environmental acceptability
of the project”.

Tribune Business also
inquired about the environ-
mental consultant approval
letter attached to the EIA,
which stated that it was “RE:
Snake Cay Power Plant, Aba-
co - Pre-approval of Consul-
tants.”

Kevin Basden, BEC’s gen-
eral manager, said the EIA

SEE page 4B

best solution for the market-
place.

“Once we know the mar-

Ket is turning, and growth is
possible out there, we’d like
to support it with decent equi-
ty.”
Mr McWeeney emphasised
that a key goal for the bank
was “to fortify the long-term
capital base to withstand the
sort of shocks we’ve gone
through” with the current
recession, and correspond-
ingly sharp increase in non-
accrual loans.

Bank of the Bahamas Inter-
national’s current Tier I capi-

SEE page 2B

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



ROYAL FIDELITY

Money at Work

CLOW Ma else) MCT ett LN A

S devaluation
concerns rise

By NEIL HARTNELL
Tribune Business
Editor

The downgrade of
the Bahamas’ long-term
sovereign credit rating
is “the first step”
towards a potential
devaluation of the
Bahamian dollar’s
one:one peg with its US
currency counterpart, a
PLP Senator warned
yesterday, expressing
fears that “this could be
upon us in a year or
two” if corrective actions
were not implemented now.

Jerome Fitzgerald, who is also RND Holdings’
chairman, said Standard & Poor’s (S&P) concerns
over the composition of the national debt, part of the
reasons it cited for the downgrade to ‘BBB+’ invest-
ment grade, were directly related to the fact that
Bahamian foreign currency debt had doubled as a
percentage of the total - from 10 per cent to 20 per
cent - over the last two years.

With the downgrade meaning that any future inter-
national borrowings by the Bahamian government
were likely to require a higher interest rate to attract
investors, thereby raising the public sector’s borrow-
ing costs, Mr Fitzgerald said: “This downgrade, to
me, is the first step in our dollar coming under threat.

“What happened, and the reason why S&P
expressed concern about the US$ borrowings, is that
foreign currency borrowings have doubled in the last
two years and are now $1 billion. That’s the point
S&P are concerned about. They’re concerned that
the make-up of the debt has changed, and they’re
concerned that the foreign debt component has
increased.”

Arguing that the former Christie-led PLP adminis-
tration reduced the foreign currency component of the
national debt by about $100 million, from $500 million
to near $400 million, during its 2002-2007 tenure, Mr
Fitzgerald said the Ingraham administration’s
increased borrowing could produce balance of pay-
ments pressures.

The increased foreign currency debt component,
Mr Fitzgerald said, would “increase pressure on us to
find US dollars” to service principal and interest
repayments at a time when the main capital inflow
sources - tourism and foreign direct investment - were
severely reduced.

“Tf we can’t make payments on that US dollar debt

SEE page 5B

JEROME FITZGERALD



Last 12 Months

As at November 30, 2009

et2tet 5.70%

¢ Lower risk investment

¢ Ahigher, stable rate of return

¢ Monthly subscriptions & redemptions

EPPA EN
Nassau: 242.356.9801

Freeport: 242.351.3010

BARBADOS

St. Michael: 246.435.1955

eM AC)

Last 5 Years 5 et!
ies Annual A * 0

¢ Minimum initial investment $1,000
¢ Minimum additional investment $250
¢ No fees to purchase shares

How do | invest?
Call Royal Fidelity at 356-9801

Past performance is not indicative of future performance
and the investment return and performance value of an
investment in the Fund can go up or down.

ROYAL FIDELITY

Money at Work





PAGE 2B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE





overnment: 25
TIEAs in position

The Government last night said the
Bahamas has concluded Tax Infor-
mation Exchange Agreement (TIEA)
negotiations with 23 countries to-date,
with 10 signed, in a move to allay fears
that this nation might not meet the

Organisation for Economic Co-Oper-

ation and Development’s (OECD)

deadline for escaping its so-called ‘grey

list’.

Adding that it expects to exceed by
the OECD’s March 2010 deadline and
required minimum of 12 signed agree-



It added that TIEA negotiations
have been successfully concluded with
Germany, Canada, Spain, Mexico,
Australia, South Africa, South Korea,



ments, the Government said the 10
signed TIEAs were with the US,
Monaco, San Marino, the United King-
dom, New Zealand, the Netherlands,
the People’s Republic of China,
Argentina, Belgium, and France.

Negotiations

and the seven Nordic countries of Nor-
way, Sweden, Finland, Denmark, Ice-
land, Greenland and Faroe Islands.
The signature on agreements by
countries with whom the Bahamas has
concluded negotiations will follow the

completion of their relevant internal

procedures required for the signing of

treaty instruments. These internal pro-

Stocks slip to break

cedures, which have been fast tracked
by some countries, include the added
requirement of translating the agree-
ment into relevant native languages.

six-day winning streak

SARA LEPRO,

AP Business Writers
TIM PARADIS,

AP Business Writers
NEW YORK

The stock market edged
lower Tuesday, breaking a
six-day advance as reports on
home prices and consumer
confidence did little to excite
buyers.

Major indexes rose mod-
estly in the early going but
slipped as the dollar strength-
ened and tugged on com-
modities prices. A stronger
dolar makes commodities
more expensive for foreign
buyers.

Trading was quiet, as it has
been in recent days, and many



investors left at the end of the
day for a long New Year's
weekend. The low volume
held the Dow Jones industri-
al average to a 36-point range,
the narrowest in nearly three
years. The modest losses
came after stocks had risen
for six straight days.

Economic reports looked
stronger but failed to galva-
nize investors. The Confer-
ence Board said its index of
consumer confidence rose to
52.9 in December from 49.5
in November. That was slight-
ly better than economists had
forecast.

The index remains well
below what is considered
healthy. A reading of 90 or
more signals a solid economy.

LEGAL NOTICE
UKRNAFTA & OPPORTUNITY FUND LTD.

(In Voluntary Liquidation)






Notice is hereby given that the above-named Fund (“the Company’) is
in dissolution, commencing the 4* day of December 2009. Creditors
having debts or claims against the Company are required to send
particulars to Craig A. (Tony) Gomez, Liquidator of the said Company at
the offices of Baker Tilly Gomez, The Deanery, 28 Cumberland Street,
P.O. Box N-1991, Nassau, Bahamas and if so required by notice in
writing from the said Liquidator, to come in and prove the said debts
or claims at such time and place as shall be specified in such notice,
or in default thereof, they will be excluded from any distribution made
before such debts are proved or precluded from objecting to any such





















distribution.

Dated the 30" day of December, 2009




Craig A. (Tony) Gomez
Liquidator





However, the index has
jumped from a historic low of
25.3 in February.

Home prices also rose. The
Standard & Poor's/Case-
Shiller's home price index
rose for a fifth straight month
in October, edging up 0.4 per-
cent. The index was off 7.3
percent from October last
year, roughly in line with
expectations.

Analysts

Analysts said there were
few surprises in the economic
numbers to drive the market.

"The reports we're seeing
broadly reinforce the expec-
tations we've had," said Jim
Baird, partner and chief
investment strategist for
Plante Moran Financial Advi-
sors in Kalamazoo, Mich. "It's
slow and steady; It's not
explosive improvement.”

The Dow slipped 1.67, or
less than 0.1 percent, to
10,545.41.

The trading range was the
tightest since February 2007
and the fifth straight day
when the index has swung by
fewer than 70 points.

The Standard & Poor's 500
index fell 1.58, or 0.1 percent,
to 1,126.20, while the Nasdaq
composite index fell 2.68, or
0.1 percent, to 2,288.40.

Interest rates fell after a
successful auction of $42 bil-
lion of five-year notes. The
Treasury Department is issu-
ing $118 billion in debt this
week as part of its efforts to
fund its stimulus programs.
With so much debt flooding
the market, there's been con-
cern this year that demand

would diminish. Most auc-
tions though have been able
to attract decent demand.

The yield on the 10-year
Treasury note, which is used
as a benchmark for consumer
loans, fell to 3.80 percent from
3.85 percent late Monday.

The dollar reversed an ear-
ly slide and moved higher
against other currencies.

Oil rose 10 cents to settle
at $78.87 per barrel on the
New York Mercantile
Exchange. The stronger dollar
held oil below $79. Gold fell.

Tim Speiss, chairman of
Personal Wealth Advisors
practice at Eisner LLP in New
York, said he expects to see
the market build on its recent
gains at the start of the new
year and through the first
quarter.

"We're going to be build-
ing momentum," he said.

Falling stocks narrowly out-
paced those that rose on the
New York Stock Exchange,
where consolidated volume
came to a light 2.6 billion
shares, down from Monday's
2.8 billion.

In other trading, the Russell
2000 index of smaller compa-
nies fell 0.57, or 0.1 percent, to
633.18.

Overseas, Britain's FTSE
100 rose 0.7 percent, Ger-
many's DAX index added 0.1
percent, and France's CAC-
40 rose 0.3 percent. Japan's
Nikkei stock average inched
up less than 0.1 percent.

rade
UII Riles
New Year

preference
Ie

FROM page 1B



tal ratio, or risk adjusted capital, stood at 24 per cent, well
above the new ‘trigger’ threshold of 14 per cent set by the
Central Bank of the Bahamas.

The bank’s shareholder equity was “just shy” of $120 million,
Mr McWeeney adding: “When I took over eight years ago, it
was $17-$18 million. That was a major goal of mine, to increase
the capital base, so since I took over we’ve increased the cap-
ital base by $15 million a year.”

As for the expected fiscal 2011 bottom line performance, the
Bank of the Bahamas International managing director added:
“We don’t expect to be any less than we were last year. My view
is that if you’re on par with last year, you’re ahead of the
game.”

Mr McWeeney said Bank of the Bahamas International had
suffered in line with the rest of the industry when it came to
non-performing and past due loans as the economy spiralled
downwards, telling Tribune Business the institution was “hope-
fully slightly below” the 9 per cent average for non-performing
loans as a percentage of the total portfolio.

The Bank of the Bahamas International’s managing director
added that the rise in non-performing/non-accrual loans had
also been responsible for the drop in the bank’s first quarter
interest income to $12.775 million, compared to $13.645 million
a year ago - a fall of almost $900,000.

Still, as evidenced by the more than $14 million growth in
Bank of the Bahamas International’s loans and customer
advances during the three months to September 30, 2009,
reaching over $570 million, lending opportunities are still there.

“There’s still good demand out there,” Mr McWeeney said.
“Tt’s important the banks do lend to get the economy out of this,
and we still have a positive view on business expansion. Where
there are positive prospects, we will look at it. Hopefully, a lot
of the non-performing loans will correct themselves over the
next year.”

Following a “hard look” at its total loan portfolio by its
internal credit risk department, Bank of the Bahamas Inter-
national took a $2.655 million provision for specific loan loss-
es in the 2011 first quarter.

“We feel fairly confident that we will not have any significant
further provisions for the year,” Mr McWeeney said, adding
that to meet both the Central Bank’s and International Finan-
cial Reporting Standards (IFRS) requirements, specific provi-
sions were being recognised in the income statement, not the
balance sheet.

This helped to explain why Bank of the Bahamas Interna-
tional recorded a positive $1.8 million swing on its net credit loss
expense, the chief factor behind its improved net income per-
formance. The bank has also used a portion of its retained
earnings to create a general reserve.

Meanwhile, Mr McWeeney said Bank of the Bahamas Inter-
national “expects the return on investment to be significant”
from transferring its credit card processing platform in-house.

Pointing out that this was a service the bank planned to
export, Mr McWeeney said one credit card company, which cur-
rently used the same Panama-based processor it had done,
was interested in starting talks with Bank of the Bahamas
International in the 2010 first quarter about switching to its plat-
form.

“Tt has the ability to support credit card platforms from any
country in the world,” Mr McWeeney said. “Once we’re satis-
fied it’s functioning properly, we will be marketing that outside
the Bahamas. That’s a prime vehicle we can market outside the
country.”

Bank of the Bahamas International also expected to start the
first phase construction on its new West Bay Street headquar-
ters in 2010. That phase will involve the building that will
house the bank’s headquarters functions, the first phase of a
three-stage project.

‘All Xmas Items

even net xmas items

** original price only

=—

ty

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an
NaS,

THE TRIBUNE

(en)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 3B





Airlines set to incur
extra security costs

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

The increased costs from
enhanced security measures
at Lynden Pindling Interna-
tional Airport (LPIA) will
be incurred by the airlines
that use it, the Nassau Air-
port Development (NAD)
Company’s president said
yesterday.

Craig Richmond, who is
also NAD’s chief executive,
said the airport operator
could also face extra costs
because of the increase in
security due to the foiled
Christmas terror attack.
However, the additional
security will be seen at the
gate and not at pre-US Cus-
toms screening.

Mr Richmond said addi-
tional passenger screening
at the jetway gate has caused
delays for most of the air-
lines, and some passenger
malcontent.

However, he added that
most passengers understand
the increased security and
endure the longer boarding
processes.

“People generally realize
that measures are put in
place for their own safety,”
Mr Richmond said.

According to him, NAD
has not yet tallied the addi-
tional costs, but insisted that
it will be nominal. “We
don’t have to bring on any
more staff,” Mr Richmond
added.

On Christmas Day, a
Nigerian man aboard a

transatlantic Delta flight to
Detroit tried to ignite an
explosive or incendiary
device hidden in his under-
wear aboard the plane when
he was subdued by vigilant
passengers.

According to news organ-
isations, the new security
measures caused by this
event, labelled a terrorist
attack by US president
Barack Obama, have been
causing vast delays in flights
and angst among passengers.

Backlash

The Bahamas Hotel Asso-
ciation’s president, Robert
Sands, said that despite the
possible backlash for travel,
the paramount issue at the
airport is passenger safety.

“We cannot put anything
in front of that particular
issue, and the BHA supports
the initiatives to put in place
the procedures that will give
confidence to the travelling
public,” he said.

According to Mr Sands,
there is concern that travel
to the Bahamas could be
disrupted because of the
measures put in place at air-
ports. He further lamented
that this incident, coming
amid an economic recession
that stunted tourist arrivals
by air during the past year,
could be a double hit in
arrival numbers.

“It is regrettable that par-
ties continue to terrorise the
travelling public, which
could infer some additional
fear,” said Mr Sands.

This change in security
measures also comes after
the airport removed the
highly-contested second x-
ray screening at the entrance
to the departure lounge.
Many people considered the
second screening obsolete
and a nuisance.

Mr Sands said “there
would be a greater concern
if travellers did not feel the
appropriate screening is in
place”.

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.



Ansbacher (Bahamas) Limited, a specialist in private bank-
ing, fiduciary services and wealth management is seeking
candidates for the position of:

Senior Relationship Manager/Private Banker
The successful candidate will:

Manage and motivate a team of Relationship Officers
providing guidance, supervision, performance and
personal development

Develop new business and manage a portfolio of client

relationships

Market private banking, fiduciary and portfolio
management services

Cross-sell the Company's products and expand existing

relationships

Qualifications:

University Degree in Finance, Banking or Business
Administration and/or related professional designation

At least five year’s experience in the private banking sector
and have a thorough knowledge of private banking
products and services

Established record of new business development

Strong communication, analytical, interpersonal and
organizational skills

Proven excellent client relationship service

Fluency in a foreign language would be an asset

Applications should be submitted to:
Human Resource Department

P.O. Box N-7768
Nassau, Bahamas
Fax: 394-8898

E-mail: vacancies@ansbacher.bs

The deadline for all applications by hand, fax or e-mail Is
Thursday December 31, 2009.

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BIE Bank & Trust Bahamas Ltd.

Is seeking the services of a
SENIOR TRUST OFFICER

The successful applicant will assist in providing supervisory support to the Trust
Manager of the Fiduciary Department.

Key Responsibilities

* Maintain professional administration of high net worth Fiduciary accounts.

+ Liaise with clients and their advisors in the establishment of new Fiduciary
structures and the ongoing management and administration of existing
structures.

* Meet clients’ needs in a timeley , professional manner.

- Review existing accounts to assure the administration is conforming to the
terms of the instrument and that client expectations are met.

- Contribute towards operational strategies, financial planning and bank
policies and procedures.

* Ensure compliance with in-house procedures and relevant legislation with a
view to minimizing risks.

- Develop and implement training related to Fiduciary account administration
matters.

lification nd Experience:

- Relevant professional qualification such as STEP, LLB or advance degree.

- Comprehensive knowledge of fiduciary law and estate planning.

* Minimum of 5-10 years of successful experience in managing fiduciary
relationships with high net worth clients (or equivalent).

+ Proficiency in MS Office Suite (Word, Excel).

- Excellent interpersonal and communication skills.

- Comprehensive knowledge of due diligence requirements and anti-money
laundering legislation and regulatory provisions of the Bahamas.

* Detail-oriented, problem solving, analytical and organizational skills.

- Working knowledge of The Bahamas legislation and regulations and their
relationship to trust and corporate policies and procedures.

+ Portuguese or Spanish language a plus, but not required.

Salary will commensurate with qualifications and experience.

Interested applicants meeting the above qualifications should submit a recent
resume by January 5th, 2010 to:

Human Resources
P.O. Box N-3990
1st Floor, Charlotte House
Nassau, Bahamas
Fax: 242-328-2750

Security

Position Purpose
The purpose of this position is to promote, enforce, and regulate the highest security standards

and practices in the workplace and to investigate and respond to various types of emergencies
as required to ensure a safe and secure work environment.

Environment

This position exists in an ever-changing environment that requires flexibility and the ability to
embrace frequent change. It requires persons with strong, genuine passion for promoting and
enforcing high safety and security standards.

Duties:

¢ Provide continuous monitoring of entire facility (offshore and onshore) utilizing
CCTV systems.

¢ Ensure only authorized persons access facility following ISPS protocol.

¢ Provide written/ verbal Reports of /Security matters to Management.

¢ Maintain daily turn-over log of all activities on shift, including equipment status,
and any unusual or important happenings.

¢ Conduct regular patrols throughout Terminal facility

¢ Investigate and report on all suspicious circumstances and hazardous conditions on
shift.

¢ Conduct spot checks on Vehicles and personnel at Terminal checkpoints.

¢ Provide assistance during evacuation exercises.

¢ Control traffic within the Facility, checking for violations, and enforcing full
compliance of company rules and regulations regarding motorized equipment.

¢ Receive and transfer incoming calls throughout facility.

Experience:

No prior experience required, training will be provided in all area.

Job Requirements:
¢ High School graduate

¢ Age 25-30

e Experience in Security, Safety and Fire-Fighting a good asset but not mandatory.
Training will be provided in all areas.

¢ Good Verbal and written communication skills (mandatory)

¢ Good working knowledge computer skills an asset

¢ Prepared to work 12 hour shift cycle

¢ Good physical condition

e Passion for excellence and teamwork

Reporting Line:
This position reports to the Safety and Security Superintendent.

Applications should be submitted to the
SHEQ Manager
Bahamas Oil Refining Company International Limited
Dbs Vopak Terminal Bahamas
P. O. Box F-42435
Freeport, Grand Bahama, Bahamas
On or before December 31, 2009



PAGE 4B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

SOUTHERN POINT VENTURES LTD.

In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
SOUTHERN POINT VENTURES LIMITED. has been
dissolved and struck off the Register according to the Certifi-
cate of Dissolution issued by the Registrar General on the 5th
day of November, 2009.

Robert Roynon-Jones
Les Buissonets, Rue de la Hougette
St. Clement
Jersey, JE2 6LD

Liquidator



COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT

2008/CLE/qui/1322

Common Law and Equity Division

IN THE MATTER of three (3) pieces parcels or lots
of land situate on the Northwestern Side of the Queen’s
Highway approximately Two Thousand One Hundred
and Thirty-three (2,133) feet West of the Bridge to
Newton Cay in the Settlement of Seymours North
Long Island one of the Islands of the Commonwealth
of The Bahamas

AND

IN THE MATTER of the Quieting Titles Act, 1959
Chapter 393

AND

IN THE MATTER of the Petition of Eddington
Burrows

NOTICE OF PETITION
The Petition of Eddington Burrows of the Settlement

of Seymours North Long Island one of the Islands of
the Commonwealth of The Bahamas in respect:

FROM page 1B

did not require a second pre-
approval of the consultant
because it was the same pro-
ject but a different site.

RDA is alleging that the
Government, BEC and its
contractors began clearing the
site before the EIA was com-
plete. However, Mr Basden
insisted that Friends of the
Environment and other Aba-
co NGOs concerned about
the plant underwent a walk-
through of the property
before any construction
began. However, those NGOs
refute that claim.

Mr Kemp argued the road
to the present site of the $105
million power plant, which is
60 per cent complete, had
been pushed through before
the BEST Commission first
received the completed EIA.
Some EJA photographs show
some possible clearing may
have been done at the time
the pictures were taken.

Another concern raised by
the NGOs is the proximity of
the fuel pipeline and the pow-
er plant to a national park.
The EIA contends that the
facility is seven miles away
from the nearest settlement,
but small residential develop-
ments exist within three miles
of the plant as well as a sub-
stantial amount of farmland,
said to be the bread basket of
the island.

Mr Kemp said he suspects
this project was dreamt up in
a day, and carried out with-
out regard for a proper EIA
and public consultation.

According to the EIA:
“During the building permit
application and EJA review
process at the Town Planning
Committee meeting, should
the committee deem it neces-
sary and if there is strong pub-
lic objection to the project,

Costs to rise $3.5-$m from
Abaco plant's ‘fuel switch’

representatives or members
of the general public may be
invited to voice their views or
objections.

“Due notice is also taken
of any comments made by
NGOs such as Friends of the
Environment (FRIENDS).
With respect to FRIENDS,
there is a concern with regard
to potential impacts to Sea of
Abaco ecology, and specifi-
cally to the Pelican Cays Land
and Sea Park during the oper-
ation of the power plant.

Balance

“While this is an important
consideration in the power
generation dialogue, finding
the balance between the pow-
er generation needs of the
Abacos and the need to be
ecologically and environmen-
tally responsible are not
mutually exclusive and are
clearly acknowledged by
BEC.

“The importance for reli-
able and inexpensive electric-
ity, which provides the basis
for Abaco's continued and
improving standard of living
for all of its citizens, should
not be marginalised on the
basis of the ‘no development’
alternative. In addition, the
use of alternative fuels has
not yet developed to the util-
ity scale, although active
investigation into viable alter-
native technologies contin-
ues.”

Mr Kemp and the not-for-
profit group, Friends of the
Environment, have been rail-

NOTICE

RUCOL LIMITED

NOTICEIS HEREBY GIVEN as follows:

“ALL THOSE three (3) pieces parcels or lots of
land situate on the Northwestern Side of the
Queen’s Highway approximately Two Thousand
One Hundred and Thirty-three (2,133) feet West
of the Bridge to Newton Cay in the Settlement of
Seymours North Long Island one of the Islands
of the Commonwealth of The Bahamas containing
Fifty Seven Thousand Seven Hundred and Fifty-
five (57,755) square feet which said pieces parcels

RUCOL LIMITED is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

The Liquidator of the said company is Credit Suisse
Trust Ltd. Rue de Lausanne 17 bis, Geneva.

or lots of land are bounded on the North by
mangrove and running thereon One Hundred and
Forty-two and ninety-five hundredths (142.95)
feet on the East by land the property of John Smith
and running thereon Two Hundred and Ninety-
five and thirty-nine hundredths (295.39) feet on
the South by the Queen’s Highway and running
thereon One Hundred and Fifty-six and sixteen
hundredths (156.16) feet on the West by Land the
property of Hubert Smith and running thereon
Four Hundred and Fifty-eight and fifty-three
hundredths (458.53) feet which said pieces parcels
or lots have such position shape marks boundaries
and dimensions as are shown on the diagram or
plan attached hereto and thereon coloured pink.”

Eddington Burrows claims to be the owner of the
unincumbered fee simple estate in possession of the
said pieces parcels or lots of land and has made
application to the Supreme Court of the said
Commonwealth under Section 3 of the Quieting Titles
Act 1959 to have his title to the said pieces parcels or
lots of land investigated and the nature and extent
thereof determined and declared in a Certificate of
Title to be granted by the Court in accordance with
the Provisions of the said Act.

Copies of the plan of the said land may be inspected
during normal office hours at the following places:

a. The Registry of the Supreme Court Ansbacher
Building, East Street in the City of Nassau.

. The Chambers of Plakaris & Co., No. 16
Market Street, in the City of Nassau.

Notice is hereby given that any person having dower
or right of dower or an Adverse Claim or a claim not
recognized in the said Petition shall on or before the
30th day of December A.D., 2009 file in the Supreme
Court and serve on the Petitioner or the undersigned
a Statement of his Claim in the prescribed form,
verified by an Affidavit to be filed therewith. Failure
of any person to file and serve a Statement of his
Claim on or before the 30th day of December A.D.,
2009 will operate as a bar to such claim.

PLAKARIS & CO.
Chambers

No. 16 Market Street
Nassau, N.P.,

The Bahamas

Attorney for the Petitioner



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Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Ltd.
Liquidator

NOTICE

SORUVIND COMPANY LTD.
NOTIC EIS HEREBY GIVEN as follows:
SORUVIND COMPANY LTD. is in voluntary

dissolution under the provisions of Section 137
(4) of the International Business Companies Act

2000

The dissolution of the said company
commenced on the 24th December, 2009
when the Articles of Dissolution were submitted
to and registered by the Registrar General.

The Liquidator of the said company is CST
Administration (Bahamas) Limited, The Bahamas
Financial Centre, Shirley & Charlotte Streets,

Nassau, Bahamas

Dated this 29th day of December, A. D. 2009



CST Administration (Bahamas) Limited
Liquidator

NOTICE

MASSY LIMITED

NOTIC EIS HEREBY GIVEN as follows:

(a) MASSY LIMITED is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the

Registrar General.

(c) The Liquidator of the said company is Credit Suisse
Trust Limited Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Limited
Liquidator

ing against the Governmen-
t’s plans to build the Wilson
City plant, which could use
Bunker C heavy Fuel oil.

According to those agen-
cies, that particular heavy fuel
oil is one of the worst pollut-
ing agents to be burned to
produce power.

However, Mr Basden said
the twin generators that will
supply Abaco with its power
would be able to accommo-
date the more expensive auto-
motive diesel, which is a
cleaner option for power pro-
duction. And government has

not yet decided which fuel it
will use to generate power.

Mr Basden said the dispar-
ity in the cost of running the
cheaper Bunker C fuel oil and
diesel would be $3.5 to $4 mil-
lion in costs.

Prime Minister Hubert
Ingraham said recently that if
Abaco preferred the more
expensive Automotive Diesel
fuel, it would have to incur
the cost. Traditionally, Aba-
co’s fuel costs, because of its
power plant’s inefficiencies,
have been subsidised by tax-
payers in New Providence.

NOTICE

(Voluntary Liquidation)

In accordance with Section 249 Sub-Section (2)
of The Companies Act, 1992 NOTICE is hereby
given that an Extraordinary General Meeting of
RICHMOND CORPORATION LIMITED will be held
at the Registered Office of the Company, Bahamas
Financial Centre, Shirley and Charlott Streets,
Nassau, Bahamas on the 15th day of January 2010
for the purpose of considering and approving the
Report of the Liquidator on the manner in which the
winding up has been conducted and the property of

the Company disposed of.



Liquidator



NOTICE
(Voluntary Liquidation)

We, Credit Suisse Trust Limited, duly appointed Liquidator
of RICHMOND CORPORATION LIMITED hereby
CERTIFY that the following are true and exact copy of
Resolutions passed at an Extraordiary General Meeting of
the Company held on December 18, 2009.

RESOLVED

1. That this Company be placed into voluntary

Liquidation.

2. That Credit Suisse Trust Limited be appointed
Liquidator with the power to act alone for the
purpose of winding up the affairs of the Company.

IN WITNESS WHEREOF | hereunto set my hand and the
Common Seal of the Company this 30th day of December 2009.



Liquidator

NOTICE

WINDSMOOR LIMITED

NOTICE |S HEREBY GIVEN as follows:

(a) WINDSMOOR LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the

Registrar General.

(c) The Liquidator of the said company is Credit Suisse
Trust Limited Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Limited
Liquidator

NOTICE

CELIPO LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) CELIPO LIMITED is in voluntary dissolution under the
provisions of Section 137 (4) of the International Business

Companies Act 2000.

The dissolution of the said company commenced on the
24th December, 2009 when the Articles of Dissolution
were submitted to and registered by the Registrar

General.

The Liquidator of the said company is Credit Suisse Trust
Ltd. Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Ltd.
Liquidator







an
NEY,

THE TRIBUNE



(ew)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 5B



‘Managing our own affairs’ key to 2010 performance

FROM page 1B

Bahamian economy, this
nation needed to do a better
job of managing itself - some-
thing highlighted by the S&P
move.

“T have very little doubt
that the global economic situ-
ation will be more favourable
than in 2009,” Mr Wilson said
of the upcoming year. “I am
very confident of that.”

However, he added of the
S&P decision: “That’s a third
party saying: ‘Hold on,
change. You’re going down a
path that is very dangerous.’

“What it really boils down
to is the extent to which we
manage our own affairs more
prudently. It’s [the S&P
downgrade] calling into ques-
tion legitimately how well
we’ve been managing our
own affairs. That will have a
lot to do with how well the
economy does in 2010.”

The Arawak Homes and
Sunshine Holdings chairman
then told Tribune Business:
“My sense is that there are a
number of factors that will
play out in 2010. A material
factor will be the Baha Mar
project.

“My understanding is that
the parties, the Chinese and
the principals of Baha Mar,
have reached an understand-
ing subject to the granting of
thousands of work permits
[for Chinese workers].”

Tribune Business was told
last week that Baha Mar’s
potential agreement with the
two Chinese state-owned enti-
ties, China State Construction
and the China Export-Import
Bank, for the $2.6 billion
Cable Beach strip’s redevel-
opment was “90 per cent like-
ly to go” ahead, with just a
few commercial details
remaining to be worked out.

This newspaper was also
told at the time that the Chi-
nese were seeking 6,500 work
permits for their construction
and other personnel who
would work on the develop-
ment, although no more than
2,500 would be granted - and
their holders present in the
Bahamas - at any one time.

This figure was subse-
quently disputed by well-
placed Tribune Business
sources, some suggesting the
number of work permits
being sought by the Chinese
was higher and others lower,
and those close to Baha Mar

saying it was not even an
issue.

Still, Mr Wilson said yes-
terday in relation to the Baha
Mar work permits issue:
“Clearly, that’s a matter that I
would think would warrant a
lot of public negotiation. I’ve
heard of 4,000 work permits.

“Clearly, whatever the
number is it’s a very material
amount. That’s a matter that
goes beyond just economics.
That’s a matter any govern-
ment will think about very
hard before making a deci-
sion. My understanding is it’s
the intention of the Govern-
ment to think very long and
hard.

“That is an overhang for
the economy,” Mr Wilson
said. “The second overhang
is that the Government has
to, has to, has to be more pru-
dent with its expenditure.

“T don’t care they take in,
what’s going on, but the rate
at which they are spending is
a very serious concern. Those
are the two overhangs for
me..... What will be the public
policy response to the Baha
Mar project and more pru-
dent fiscal management. We
are praying for better fiscal
management, improved fiscal

management.”

Still, despite these variables,
Mr Wilson said Arawak
Homes expected 2010 to be
better than the current year.

He explained: “I think, by
and large, a rising tide lifts all
ships and we expect 2010 to
be a rising tide. We do expect
the economic climate to be
more favourable, and the
management team we have in
place [at Arawak Homes] is
increasingly on top of their
game, so to speak.

“Arawak Homes has a
management team that has
been very creative, and the
fact it’s part of a financially
strong group of companies
makes it able to do some
things that allows it to differ-
entiate itself.

“We are being able to be
selective in terms of identify-
ing those with the capacity to
buy housing, and are targeting
them in a more specific way
than in the past.”

Mr Wilson said other group
companies, such as Sunshine
Finance, were able to assist
clients in restructuring their
financial affairs “so as to
maintain their standing in the
housing market”.

PLP Senator: § devaluation concerns rise

FROM page 1B

in the future, it puts the peg under pres-
sure,” the PLP Senator told Tribune
Business. “This downgrade is the first
step in that threat.

“This is the first step in the chain of
events that, if not addressed in an urgent
manner and not taken seriously - and
the Government has been lackadaisical in
its approach to these issues - and if we do
not come up with strategies and policies
to address this, I fear this thing will be
upon us in a year or two.

“Long-term, this is the most serious
thing happening to us. This is the first
threat to the Bahamian dollar, take it
from me.”

Arguing that the Ingraham adminis-
tration’s economic borrowing to date had
produced no tangible economic benefits,
Mr Fitzgerald said any foreign debt

reduction strategy needed to work ‘hand-
in-glove’ with an import substitution and
economic diversification strategy.

Yet he argued that there had been no
attempt to achieve this through the
growth of a Bahamian manufacturing or
production capacity, something that bor-
rowed foreign currency dollars should
be used for, Mr Fitzgerald said.

Imports

By developing such industries and
reducing the Bahamas’ reliance on
imports, the foreign currency debt pres-
sures would be alleviated as the outflow
of US dollars would be reduced.

When Tribune Business asked whether
it was the fiscal profligacy of both PLP
and FNM administrations that had
placed the Bahamas into its current fiscal
situation, Mr Fitzgerald responded by
arguing that the Christie administration

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financial process

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commend KL and ifs

BACHELORS DEGREE FROGRAMMES

# University of Wales - £4 (eons) Business
specialisms in Marketing,

(top up}
Finance, Banking

» Liniversity of Sunderland = BA (Hons)
Business & Management (top upl, BA

(Hons) Accountancy & Financial
Management (top up)
Liniversity of Derty - B5¢ (Home)

Psychology (commencing January 2010)
University of Teesside - LLB, BSc [Hors]

Business Computing (top up)

Sheffield Hallam University - BSc (Hons)
International Hospitality & Tourism

(lop wpe

Higher National Diploma (entry to top up
Degrees through 2-year HND) in Business

and Management, information
Technology, Travel and Tourism,
Marketing, Finance

reduced foreign borrowings, despite itself
borrowing a collective $540 million over
five years.

Instead, Mr Fitzgerald argued that the
Ingraham administration had borrowed
$750 million in its two-and-a-half years in
office, and was likely to breach the $1
billion mark in its third year in office,
taking the national debt through the $3
billion mark and towards $4 billion.

When asked by Tribune Business
about whether this administration and
future governments needed to cut spend-
ing, Mr Fitzgerald said that because the
public sector had to provide essential
services, the Bahamas instead needed to
look at reforming its tax structure.

“We have to look at revising our tax
structure. This cannot be maintained,”
he added. “The Government has to come
up with a comprehensive policy position
moving forward, communicate it to the
country and let us get our act together.”

JAMES B. GOMEZ @ Co.

CHARTERED ACCOUNTANTS AND CONSULTANTS

AUDIT SENIOR

James B. Gomez & Co. requires an Audit Senior with a
minimum of four (4) years post qualifying experience. The
successful applicant should possess a qualification that
makes them eligible for membership in The Bahamas
Institute of Chartered Accountants.

Suitable applicants should respond in writing to:

The Manager
P.O. Box SS-6229
Nassau, Bahamas

James B. Gomez & Co. is a member firm of DFK
International, a worldwide association of independent
accounting firms and business advisors.

rk

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.46 of 2000)

MOUNTJOY SERVICES LIMITED
IBC N° 152800B

(In Voluntary Liquidation)

NOTICE is hereby given in accordance with Section 131 (2)(a)
of the International Business Companies Act, (No. 46 of 2000),
MOUNTJOY SERVICES LIMITED is in Dissolution.

Any person having a Claim against the above-named Company is re-
quired on or before 15th February 2010 to send their name, address
and particulars of their debt or claim to the Liquidator of the Com-
pany, or in default thereof they may be excluded from the benefit of
any distribution made before such claim is approved

Mr. Nathan Santos of Suite 2B Mansion House 143 Main Street

Gibraltar is the Liquidator of MOUNTJOY SERVICES
LIMITED.

Aquidator



VOPAK TERMINAL BAHAMAS

Safety Officer/ Fireman

The purpose of this position is to promote, enforce, and regulate the highest safety standards and practices
in the workplace and to investigate and respond to various types of emergencies as required to ensure a

safe work environment.

Environment.

This position exists in an ever-changing environment that requires flexibility and the ability to embrace

frequent change. It requires persons with strong, genuine passion for promoting and enforcing high safety

standards.

Duties:

* Provide writter/ verbal Reports of Safety/Security matters to Mgmt.
« Maintain daily turn-over log of all activities on shift, including equipment status, and any unusual or impor-

tant happenings.

* Conduct regular patrols throughout Terminal facility

* Investigate and report on all suspicious circumstances and hazardous conditions on shift.

* Provide assistance during evacuation exercises.

+ Responding with Fire Trucks to onsite incidents and operate same as directed.
* Perform routine inspection of the firehouse, fire trucks, ambulance, and other ancillary equipment located

in the firehouse.

* Assist in training of shift fire crew as required,

+ Monitor job sites on daily basis and take note and correct unsafe acts/ unsafe conditions.
+ Ensure emergency response equipment is maintained in a constant state of readiness.

* Control traffic within the Facility, checking for violations, and enforcing full compliance of company rules

eee mma bat) ; ; : .
Py sorb! and regulations regarding motorized equipment.

* Tutor and student support included
* Free membership of International

Management Academy plus benefits
# No attendance requirement

MASTERS DEGREE PROGRAMMES

@ MBA - University of Bradford (AMBA,
EGMUIS accredited), University of
Sunderland, University of Wales

« MSc in Public Administration &
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«MSc Marketing & Management - University
of Bradford (commencing January 2010)

« MS¢ Finance, Accounting & Management —

University of {commencing January 2010)

MS¢ Information Techaalogy - University

of Teesside

Experience in Security, Safety and Fire-Fighting a good asset but not mandatory. Training will be provided
in all areas.

Featured Programme:
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ee eee
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* High School graduate

* Age 25-35

* Experience in Security, Safety and Fire-Fighting a good asset but not mandatory. Training will be provided
in all areas,

* Good Verbal and written communication skills (mandatory)

* Good working knowledge computer skills an asset

* Prepared to work 12 hour shift cycle

* Good physical condition

+ Passion for excellence and teamwork

MSc Telecommunications - Birmingham

City University

MSc international Hoapitality Management

- Sheffield Hallam Uniwersity

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Wales (pre-MBA for non-degree heiders}
« Certificate in Management

- University of Wales

Fett ee
age) Bie aoe eh
(CORP eie Geta mel mes els

- - This position reports to the Safety and Security Superintendent.
www.rdicaribbean.com
Applications should be submitted to the
SHEQ Manager
Bahamas Oil Refining Company International Limited
Dbs Vopak Terminal Bahamas
P. O. Box F-42435
Freeport, Grand Bahama, Bahamas
On or before December 31, 2009

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

RDI (Regional Office)

Riverview Center Boulevard , oF

A .
eo] kam







PAGE 6B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



Broker's $25m collapse ‘struck’ from indictment

FROM page 1B

from 2004 through 2008”.

The four companies in
question were thinly-traded
stocks on the over-the-
counter bulletin board, which
Georgiou and his co-conspir-
ators were alleged to have
manipulated by artificially
increasing the demand for,
and prices, of the shares. The
artificially inflated stock prices
were also used as collateral
to obtain margin loans from
the two Bahamian
broker/dealers.

“The indictment further
asserts that Georgiou and his
co-conspirators obtained the
loans from two Bahamian



brokerage firms, Caledonia
Corporate Management
Group and Accuvest,” Justice
Kelly said.

“Regarding Caledonia,
paragraph 11 of counts six
through eight of the indict-
ment states: “As a result of
the false representations of
defendant George Georgiou
and his co-schemers concern-
ing the collateral for the Cale-
donia account and their fail-
ure to provide additional
assets, Caledonia was unable
to cover the substantial
deficits in the [Ron Wyles]
account. Defendant Georgiou
and his co-schemers caused
Caledonia to suffer approxi-
mately $25 million in losses’.”

That part will remain in the

Legal Notice

NOTICE





indictment when Georgiou’s
case eventually goes to trial,
and Justice Kelly added:
“Regarding Accuvest, para-
graph eight of count nine
states that Georgiou ‘and his
co-schemers did not repay the
money that they had bor-
rowed on margin and in cash
loans from Accuvest, and
their artificially inflated stock
did not cover the loans. As a
result, defendant Georgiou
and his co-schemers caused
Accuvest to lose at least $4
million’.”

In addition, the judge not-
ed: “Specifically, the indict-
ment alleges that Georgiou
used wire communications in
interstate and foreign com-
merce to defraud Caledonia

and Accuvest.”

While Accuvest is still firm-
ly in business, Caledonia has
been in court-supervised liq-
uidation since February 2008,
a process that has not been
controversy-free.

Complained

Several clients and their
advisers have privately com-
plained about the fees being
charged by the liquidator,
Deloitte & Touche
(Bahamas) partner Anthony
Kikivarakis, and his attorney,
Alfred Sears, and the time
taken to return their assets to
them.

Caledonia collapsed into

Legal Notice

NOTICE

LARK VENTURES LTD.

(In Voluntary Liquidation)

DILLONPRO LTD.

(In Voluntary Liquidation)











Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator




is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,












Bahamas.

ARGOSA CORP. INC.
(Liquidator)





Legal Notice

NOTICE
HICKORY LANE

INVESTMENTS HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PLYMOUTH VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PICKWICK INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

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

is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
SCHLESWISER HOLDINGS CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
WILDERNESS LONE CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PALACIN INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

liquidation after suffering the
Georgiou-inspired $25 million
trading loss, which resulted
when Jitney, its Canadian cor-
respondent broker, sold off
assets to cover an overdrawn
margin loan balance that was
not collateralised by Geor-
giou, who had created the
‘hole’ in question.

That overdrawn balance
was in an account operated
nominally by a Ron Wyles,
whose trading activities were
directed by Georgiou. Jitney
ended up selling off assets
belonging to Caledonia clients
other than Wyles/Georgiou
because they were all pooled
in one omnibus account with
it, with no segregation.

In his last report on the liq-
uldation to the Bahamian
Supreme Court, Mr Kiki-
varakis alleged that Caledo-
nia “allowed clients to use
other clients’ assets" in their
trading activities to cover
overdrawn cash balances.
These assets totalled $1.05
million, but some $468,000
used as collateral for this had
been sold by Jitney.

Some $575,000 had been
recovered from former Cale-
donia clients with overdrawn
cash balances in the Jitney
account, Mr Kikivarakis said.
He added that 12 Caledonia
clients had been allowed to
Operate margin accounts, and
while four had “substantial
overdrawn balances", only
one did not have sufficient
collateral - the Ron Wyles
account.

Still, progress has been
made in returning Caledonia
clients’ assets. As at July 31,
2009, Mr Kikivarakis said he
had issued instructions to

transfer $55.896 million worth
of assets, out of a total $67.035
million, to the 80 Caledonia
clients that accounted for an
estimated 89 per cent of the
company’s business.

Initially, Mr Kikivarakis
said it was estimated that a
total $81.188 million was due
to 220 Caledonia clients as at
September 30, 2008. Howev-
er, this was subsequently
revised to $75.332 million,
largely because it was discov-
ered that $6.27 million worth
of assets had been returned
to four clients prior to the liq-
uidation.

Out of the $11.139 million
that had not been transferred
to Caledonia's 80 most signif-
icant clients, as at the July 31,
2009, date, Mr Kikivarakis
said some $5.439 million of
this amount was transferred
subsequently once instruc-
tions were received from the
clients. A further $3.481 mil-
lion had been returned to
another five clients.

As for the remainder, the
liquidator said six had yet to
provide him with the correct
or necessary instructions to
transfer $2.381 million worth
of assets; five clients had
authorised him to sell $1.235
million worth of assets and
return the cash proceeds to
them; and another $850,440
was being held up because
two clients had yet to comply
with the Supreme Court's
order to pay 2 per cent of
their assets into escrow to
cover the liquidator's costs.

However, Mr Kikivarakis
said $4.388 million belonged
to 126 Caledonia clients who
had not given him instructions
to transfer their assets.

Legal Notice

NOTICE
EXMOOR HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
KIARA GROUP HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PANTANEIRO HOLDINGS CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)





an
WY

THE TRIBUNE

(en
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 7B



INTERNATIONAL BUSINESS



Consumer confidence rises in Dec, but still weak

ANNE D'INNOCENZIO,
AP Business Writer
NEW YORK

Americans are ending 2009
feeling better about the econ-
omy than when the year
began, buoyed by optimism
that job prospects will
improve in the first half of
2010.

Consumer expectations for
the job market reached their
highest level in two years, but
most people remain down-
beat about their current
prospects, according to a
monthly survey released
Tuesday. The survey also
showed fewer people plan to
buy automobiles and homes
in the next six months com-
pared with November.

"This doesn't mean that the
economy isn't getting better,
but it does raise doubts on
how much actual improve-
ment in the economy we've
actually seen,” said Mark Vit-
ner, senior economist for
Wells Fargo Securities in
Charlotte, North Carolina.

If past recoveries from
recession are a guide, the
rebound of confidence will
take many more months.

The Conference Board's

Consumer Confidence Index
rose in December for the sec-
ond month in a row, to 52.9,
from a revised 50.6 in Novem-
ber. That's slightly higher
than the 52.0 prediction of
economists surveyed by
Thomson Reuters, but still far
short of the 90 that would sig-
nify a solid economy.

Economists watch the con-
fidence numbers closely
because consumer spending
on goods and _ services
accounts for about 70 percent
of U.S. economic activity as
measured by the federal gov-
ernment. Without a marked
turnaround in the job market,
consumers will continue to
"hunker down" and confi-
dence will remain low, Vitner
said. The unemployment rate
dipped in November to 10
percent, from a 26-year high
of 10.2 percent in October.
Some analysts worry it will
start climbing again in com-
ing months, perhaps rising as
high as 10.5 percent next sum-
mer.

An uneven housing market
is unlikely to help. The close-
ly watched Case-Shiller home
price index released Tuesday
showed that a national index
of home prices rose for the



(AP Photo/Jim Prisching, file)

IN THIS DEC. 19, 2009 FILE PHOTO, shoppers jam Michigan Ave., as
they rush to find last minute deals in Chicago. A monthly survey said
Tuesday, Dec. 29, 2009, consumers’ confidence in the economy

rose again in December.

fifth month in a row in Octo-
ber, but only 11 of the 20
metro areas tracked showed
gains.

The consumer confidence
index hit a historic low of 25.3
in February after registering
37.4 in January and enjoyed a
three-month climb from
March through May, fueled
by signs that the economy
might be stabilizing. Since
June, it has bounced along
anemically between 47 and 55
as rising unemployment has
taken a toll.

The bright spot in Decem-
ber's confidence index was
consumers’ six-month out-
look, which rose from 70.3 to
75.6, the highest level since
December 2007. But the oth-
er main component, which
measures shoppers’ current
assessment, fell to 18.8 from
21.2. That level remains at a
26-year low.

"Regarding income, how-
ever, consumers remain
rather pessimistic about their
short-term prospects, and this
will likely continue to play a

key role in spending decisions
in early 2010," Lynn Franco,
director of The Conference
Board Consumer Research
Center.

The survey revealed that
the proportion of consumers
anticipating an increase in
their incomes declined from
10.9 percent to 10.3 percent.

The economy's health is
riding on consumers. The
overall economy as measured
by the gross domestic prod-
uct grew at an annual rate of
2.2 percent in the July-Sep-
tember quarter. That was the
first positive performance for
GDP after four consecutive
quarters of decreases, and it
marked the strongest sign to
date that the recession that
started in December 2007 has
ended. Economists expect
GDP to show even stronger
growth in the current Octo-
ber-December quarter, but
the recovery could sputter in
coming months if consumers,
worried about jobs, decide to
cut spending.

The problem is that it can
take a long time for confi-
dence to rebound. During the
last recession in 2001, it took
about two years for confi-
dence to climb back to a

healthier level of 90. The
index peaked at 144.7.

In the early 1990s, it took
three years for confidence to
rebound to healthier levels
because the economy was in a
jobless recovery, similar to
what's currently playing out.

The slight improvement in
consumer sentiment could be
seen in holiday shopping
trends. Shoppers spent a bit
more than expected when
adjusting for the extra selling
day between Thanksgiving
and Christmas this year,
according to MasterCard
Advisors’ SpendingPulse,
which track all forms of pay-
ment, including cash.

However, shoppers focused
on practical items and
bypassed gift cards, opting for
discounted items instead.

Michelle Baran of Atlanta
said the economy hit her hard
because her boyfriend's pay
was cut by 50 percent. The
43-year-old was at Atlanta's
Lenox Square Mall on Tues-
day returning clothes she had
bought for herself.

"T feel like the economy is
getting better,” she said. "But
the effects of the economy are
still with me. I'm still being
careful."

NOTICE

NOTICE is hereby given that GEORGE A. MILATOS of WEST
BAY STREET, P.O BOX N3579, 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 23'" day
of December, 2009 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Legal Notice

NOTICE
LOKAI HOLDINGS INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
ASPERA OVERSEAS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
VIBRANT INVESTMENTS

GROUP LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator

Legal Notice

NOTICE

JENDALE FENNS HOLDINGS LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., PR O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
IMBIAH INVESTMENTS PTE. LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,

Legal Notice

NOTICE
HANNAFORT

INVESTMENTS PTE. LTD.

is Argosa Corp. Inc., P O. Box N-7757 Nassau, Bahamas.

Bahamas.

(In Voluntary Liquidation)

ARGOSA CORP. INC.
(Liquidator)

ARGOSA CORP. INC.
(Liquidator)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

EJ PG CAPITAL MARKETS
s BROKERAGE & ADVISORY SERVICES

cray Pca Nt AX LT

ROYAL = FIDELITY

Money 2: Work

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 29 DECEMBER 2009
BISX ALL SHARE INDEX: CLOSE 1,560.35 | CHG 7.36 | %CHG 0.47 | YTD -152.01 | YTD % -8.88
FINDEX: CLOSE 000.00 | YTD 00.00% | 2008 -12.31%
WWW_.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
52wk-Low Securit y Previous Close Today's Close Daily Vol. EPS $ Div $
1.03 AML Foods Limited 1.17 1617
9.90 Bahamas Property Fund 10.74 10.74
5.90 Bank of Bahamas 5.90 5.90
0.63 Benchmark 0.63 0.63
SA5 Bahamas Waste 16 B18
2.14 Fidelity Bank 2.37 2.37
9.92 Cable Bahamas 9.98
2.72 Colina Holdings aA72
S26 Commonwealth Bank (S1) 6.76
1.27 Consolidated Water BDRs 2.61
1.32 Doctor's Hospital 255
. 6.28 Famguard
Legal Notice 880. Finco
9.86 FirstCaribbean Bank 9.99 9.99

NOTICE é #0
LAZENTON INVESTMENTS PTE. LTD.
(In Voluntary Liquidation)

Change Yield
O.127
0.992
0.244

-0.877
0.125
0.055
1.406
0.249
0.419
0.114
0.625

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.14
0.27
0.00
0.00
0.00
0.00
0.00
0.00
0.00

ARGOSA CORP. INC.
(Liquidator)

9.98
2.72
6.90
2.88
2.
6.49
9.28

6.49
9.28

0.420
0.322
0.631
0.326
0.000
0.035
0.407
0.952
0.156
ases)
Interest

Focol (S) ATT A.77
Focol Class B Preference 1.00 1.00
Freeport Concrete 0.27 0.27
ICD Utilities
J. S. Johnson 9.95 9.95 0.00
Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Symbol Last Sale Change Daily Vol.
FBB17 100.00 0.00 T%
FBB22 100.00 0.00 Prime + 1.75%
FBB13 100.00 0.00 7%
FBB15 100.00 0.00 Prime + 1.75%
Fidelity Over-The-Counter Securities
Bid & Ask & Last Price
10.06 11.06 14.00
2.00 6.25 4.00
0.35 0.40 0.35
Colina Over-The-Counter Securities
30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months
1.4160 4.62 5.53
2.8552 -2.88 -3.92
1.5061 5.05 5.20
2.9618 -12.52 -15.21
13.2400
103.0956
99.4177

5.49
9.95
10.00

5.59 5.59 0.00

52wk-Hi 52wk-Low
1000.00
1000.00
1000.00

1000.00

Securi
Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

19 October 2017
19 October 2022
30 May 2013
29 May 2015

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

52wk-Low Symbol EPS $ Divs P/E
Bahamas Supermarkets
Caribbean Crossings (Pref)

RND Holdings

Weekly Val.

ABDAB
RND Holdings
Fund Name Div $

CFAL Bond Fund
CFAL MSI Preferred Fund

1.4316 CFAL Money Market Fund

2.9343 Royal Fidelity Bahamas G & | Fund
12.5597 Royal Fidelity Prime Income Fund
100.0000 CFAL Global Bond Fund

99.4177 CFAL Global Equity Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

1.3419
2.8266

31-Oct-09
30-Nov-09
18-Dec-09
31-Oct-09
4.93
3.10
3.12
4.32
-0.59
3.56
4.17

5.90
2.52
2.76
5.26
-0.19
4.42
4.18

31-Oct-09
30-Sep-09
30-Sep-09
31-Oct-09
31-Oct-09
31-Oct-09
31-Oct-09

1.0000
1.0000
1.0000
9.0775

1.0804
1.0269
1.0742
Royal Fidelity Bah Int'l Investment Fund 9.4740

Principal Protected TIGRS, Series 1
10.0000 10.6301 6.30

6.30 31-Oct-09

4.8105 7.4613 35.40
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Royal Fidelity Int'l Fund - Equities Sub Fund 29.64 31-Oct-09
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks

Weekly Vol. -

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

ARGOSA CORP. INC.
(Liquidator)

KS) - 4for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525

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THE TRIBUNE

(en)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 9B



eS



ST Deli staff - (from | to r) Lashea Bullard and Maggie Cartwright.

Studio

By REUBEN SHEARER
Tribune Features
Reporter
rshearer@tribunemedia.net _

4 TUDIO Deli’
is the name
of the new

kid on the culinary
block in downtown

Nassau.

This cozy establishment not
only provides healthy alterna-
tives to the usual fare to be
had in the downtown area, it
also strives to operate the
most environmentally friend-
ly restaurant on the island.

Studio Deli is housed in a
small circa 1930s building for-
merly used as a food store and
sandwich shop.

It has been continuous
operation for the past 70
years, run by the TJ Knowles
and later the Chase families.

In fact, many Bahamians
know the shop as the old
Chase’s Deli, which was open
until 2007.

The new deli on the corner
of Dowdeswell and Deveaux
Streets has been highly antic-
ipated by persons who fre-
quent the area.

Deli supervisor Maggie
Cartwright and employee
Lashea Bullard told Tribune
Taste that it's usual for cus-
tomers to walk into Studio
Deli exclaiming, “Finally, P’ve
been waiting for this place to
open!”

"They like the taste of the
food, and have been spreading
by word of mouth the praise
of how wonderful the food is
boasting of its endless menu
options,” Ms Cartwright said.

The deli offers healthy
breakfast and lunch choices
which are becoming more and
more popular these days with
persons looking to make
changes to their diets.

For breakfast there are an
array of cereal choices. But if
you want something more sol-
id, try their freshly baked corn,
blueberry, banana nut and
bran muffins.

On the morning menu are
also sausage, bacon, ham, egg
and cheese sandwiches, made
on wheat, white, or rye bread,
and they even come in a pita
wrap.

Get an early morning cup
0’ joe to wake up or just
choose from a variety of hot
drinks like regular coffee, café
latte, espresso, cappuccino,

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on the

French vanilla, hazel nut, hot
chocolate, and regular tea that
are brewed each morning.

Studio Deli’s quiche lor-
raine has been selling like hot-
cakes, the staff said.

And the other quiches,
panini sandwiches and salads
are also real favourites with
the customers.

The deli also carries a veg-
etarian spinach and cheese
quiche.

The small restaurant has
now started its daily soup
options - low fat garden veg-
etable and tomato basil soups,
chicken and corn chowder,
cream of asparagus, lobster
bisque and conch chili are all
on the menu.

Fridays is the day for conch
chili. It’s hot and spicy in
flavour, and is simmered
down with pinto and kidney
beans, paprika chili season-
ings and fresh tenderised
conch.

And even if you want
something from the menu
that has sold out for that day,
Chef Keshlah Smith said she
will whip up a new batch.

The Italian panini is a def-
inite hit, and the roast beef
and provolone cheese on
wheat bread is delicious.

This panini, made with cia-
batta bread, is based with
home-made spaghetti sauce,
Genoa salami, with ham and
spicy pepperoni, and is grilled
using olive oil.

The deli’s seasoned house
wings have also proven to be
a hit, perhaps this is because
they're grilled and not fried.

Seasoned lightly with basil,
salt, and other spices, they are
served with a sweet sauce
made from basil, chopped
nuts, and molasses.

The wings are Studio Deli's
signature dish, staff told 77i-
bune Taste.

And to accompany the
food, you can treat yourself
to a cool ginger peach, red
current, pomegranate or
vanilla iced tea.

Chef Keshlah is the one
who came up with the unique
iced tea recipes.

The citrus punch and the
ginger lemonade are also very
popular.

Satisfy your sweet tooth
with home made desserts like
lemon meringue and cheese
cake. Oatmeal, guava duff,
and cranberry coconut cook-
ies are also available. Cus-
tomer favourites are the Swiss
mocha chocolate and rum
cake.

Deli hits downtown Nassau

Customers are particularly
excited that Studio Deli is
doing it’s part in the ‘green
movement’.

Studio Deli is the first
restaurant in Nassau to offi-
cially use materials which are
environmentally friendly.

It’s more expensive, but
"the benefits are innumer-
able," said Studio Deli owner
Michael Moss.

All of Studio Deli’s pack-
aging is made from corn, and
other vegetables. The food
containers, forks, spoons, nap-
kins, straws, drinking cups
and other utensils are all
made from various natural
materials.

The deli also uses eco-
friendly bags that decompose
over the period of month as
they are made from bio-
degradable material.

“Green packaging is
becoming industry standard,”
Mr Moss said.

Studio Deli is cozy sit-in
bistro with a unique atmos-
phere, where everything is in
keeping with the wellness
theme.

The restaurant is outfitted
with colorful antique bottles
from the 1920s, and customers

love its retro feel.

Mr Moss said he brought
the bottles over as souvenirs
from Argentina.

He has also decorated the
restaurant with an assortment
of African baskets.

“Studio Deli is a mod-
ernistic interpretation of tra-
ditional Bahamian style,” said
Mr Moss. "When you walk in
here you notice a different
but familiar feel all at the
same time,” he said.

Patrons can also enjoy Wi-

STUDIO Deli

Fi access on their laptops dur-
ing store hours.

But at the end of the day, a
restaurant’s success depends
its quality of service and food,
and people are already
responding quite positively to
the new bistro.

Chef Keshlah of Essence
Catering prepares all of the
food. A very talented cook,
she prepares food for resi-
dents in the Ocean Club
Estates, and several other
local food establishments,

INSIDE Studio Deli





including Logos Bookstore.

And don’t be surprised if
you see a small care plastered
with Studio Deli parapherna-
lia zooming down your street
next year. Plans are in motion
for Studio Deli to start its
delivery service soon.

The delivery route will cov-
er the eastern edge of down-
town, targetting the four
zones around Scotiabank
East, First Caribbean West,
Shirley Street and Bay
Streets.





PAGE 10B, WEDNESDAY, DECEMBER 30, 2009



THE TRIBUNE



The Tribune







‘Children of God’

By JEFFARAH GIBSON

KAREEM Mortimer’s
movie ‘Children of God’,
which tells the story of a
gay Bahamian man in a
homophobic society, has
received nothing but posi-
tive responses from audi-
ence members, the filmmak-

er said.

Sitting down with Tribune Enter-
tainment, Mr Mortimer said that
because ‘Children of God’ tells the
story of a gay white Bahamian and his
struggles, some people label it as con-
troversial, but the filmmaker himself
said the only thing he did was tell a
human story.

“Sexuality is a big deal in the film,
and this is one of the things that we as
a people don’t like to talk about. It is
not a film to shock the audience, and it
might be controversial to some, but I
don’t find anything controversial about
what is discussed in the film,” he said.

Hawkeye
getting

ready to |
drop debut
reggae

album

REGGAE artist Christopher Smith, more
popularly known as ‘Hawkeye’, is getting ready
to release his debut album entitled ‘Hawk
Extra’. This album will feature tracks produced
by some of the best in the reggae industry such
as Grammy winning Sly and Robbie; Shane
Browne; Winston “Wee Pow” Powell; Richard
Brownie, and Ernie Wilks, to name just a few.

The album’s title track is called ‘Damn’, a
song which speaks of modern reality that affects

people on a daily basis.

The track was produced by Shane Browne.

The concept for the whole album, the artist
said, is to produce a more mature album with a
cultural vibe, uplifting people and addressing
social issues as well as denouncing violence.

Three of the tracks on the album are about
respect, appreciation and love for women.

Hawkeye is now putting the final touches on
‘Hawk Extra’, an album that will showcase a dif-
ferent aspect of this talented artist. The expecta-
tions for this album are great and fans world-
wide are anxiously awaiting the release. The
exact release date has not yet been determined,
but the album will be available internationally
within the first quarter of 2010.

Swing Sang Productions and Hawkeye are
consistently working towards the release of
‘Hawk Extra’. Swing Sang Productions are
supervising the process, organising the promo-
tion and dealing with the business aspects such

as distribution.

1 i
hotate

By REUBEN SHEARER
Tribune Features Reporter
rshearer@tribunemedia.net

THE stately Collins House on
Shirley was the site of the highly antic-
ipated ‘Rotate’ spectacle featuring six
events in one place at the same time
earlier this month.

Over 500 persons celebrated on the
beautifully landscaped grounds
belonging to the historical edifice.

“This is the first event held there
since it’s last occupants,” said Ranard
Henfield, Rotate organiser and also
CEO of the 242 People Clothing Line.

“They have been renovating for a
few years, restoring the inside of the
building the way it was first built. We
plan to put a five star restaurant on
the first floor, and turn a portion of it
into a museum.”

Two Saturdays ago, the grounds of
Collins House were transformed into
a scene like out of the movies, as

Mr Mortimer said that ever since
the film’s premiere he has been getting
nothing but positive responses from
people.

“People were overwhelmingly posi-
tive. I have had numerous phone calls
and e-mails from people telling me
what they took from the film and what
it meant to them. I never imagined
that people would be able to identify
with the storyline.

“The movie doesn’t alienate any-
one, it’s a movie for straight people,
gay people, it’s a movie for Christians,
and at the end of the day I made a
honest film that captures a human sto-
ry,” he said.

While sexuality is the prevalent sub-
ject throughout the film, hypocrisy,
Mr Mortimer said, is the most impor-
tant theme that makes the movie uni-
versal.

And now fresh off the success of his
movie ‘Children of God’, the Bahami-
an director and filmmaker is already
hard at work creating, as well as co-
directing new films that are expected to
make their debut in 2010.

The gratifying success of the *Chil-

h

attendees were treated like high pro-
file celebrities and greeted by a red
carpet similar to the Grammy of
Academy Awards.

At sunset, a spotlight lit the sky,
moving east, west, north and south
as hundreds of people of all ages
made their way to the Rotate event.

Bernadette Christie, wife of former
Prime Minister Perry Christie, opened
the event with Chef Jamal Petty in a
live taping of his JCN ‘Island Flare
Celebrity Cooking Show’.

After whipping up a few dishes, he
and Mrs Christie served up their food
to attendees at the event.

Novie and Tim “Shiraz” Rodland
gave live performances at the fash-
ion show as the 242 People Clothing
Company debuted their new designs.

Fifty models strutted down the run-
way in sports, smart-casual, winter
and urban designs.

The hoodies were a special high-
light in winter clothing.

They come in eight colours, includ-
ing the company’s staple colours of
black, aquamarine and gold.

It was a high class fashion show,
and attendees lined up along the run-
way to applaud the models as they

dren of God’ , Mr Mortimer told 77i-
bune Entertainment, has inspired him
to continue to take on new and excit-
ing projects.

“T have a number of undertakings
for next year. I have already begun
working on a film for 2010/2011,” he
said.

Mr Mortimer has joined forces with
another director, a foreign national
who resides in the Bahamas, to devel-
op the film “Wind Jammers’.

When two talented artists collabo-
rate, it allows for the exchange of great
and unique ideas, and possibly amaz-
ing results.

“T have also collaborated with Rick
Vonamur where we both direct this
film. Even though it is a joint effort,
it’s all about him and I am just excited
to be working with him on this pro-
ject,” he said.

‘Wind Jammers’, set in the
Bahamas, is a comedy that tells the
story of a young American girl who
moves to the Bahamas with her father.
During her time in the Bahamas she
learns a number of valuable life
lessons.

walked by.

None of the merchandise was sold
on-site, and attendees were directed
to the Sports Centre to purchase items
from the 242 People Clothing line.

A booth was set up for interviews
with Sammi Starr, who talked about
his new album, signed autographs,
and gave out new CDs. He later per-
formed on stage with Visage.

Scharad Lightbourne hosted part
four of his ‘CLICK’ art series, featur-
ing present and past exhibits.

Mr. Henfield walked through
‘CLICK’ to get feedback from the
onlookers.

“All of Scharad’s works were on
display,” he said. “I walked through
‘CLICK’ to see how it went and peo-
ple loved it.”

Also in another one of the six des-
ignated areas at the event, Rotate fea-
tured the year-end networking event
for the local business fraternity
Bahamas Dinner Network.

“The foreman of Collins House was
so impressed to see what was done
at the venue that he arranged an
emergency meeting this week to dis-
cuss working with us to do events now
at Collins House,” Mr Henfield said.

“This is a ‘coming of age’ story, and
it is just simply about growing up,”
the filmmaker said.

The film is targetted towards teens
who should be able to easily identify
with the movie’s storyline.

Major work for the project has
already been completed.

“We have already shot the movie,
and we are doing the post production
right now,” he said.

Mr Mortimer said he is not sure
whether ‘Wind Jammers’ will be fea-
tured in next year’s Bahamas Inter-
national Film Festival (BIFF).

As for his next solo project, Mr
Mortimer said he is still in the devel-
opment phase, but expects that it will
be just as intriguing and successful as
‘Children of God’.

“*Children of God’ was a beautiful
story, and this film will be as success-
ful as “Children of God’. I am also not
sure if this one will be a feature in the
film festival, but I am thinking of get-
ting it on Netflix,” he said.

For those who did not get a chance
to see ‘Children of God’ during BIFF,
they will be able to view the movie
on DVD sometime next year.

“We are trying to secure distribu-
tion by summer so that the movie can
be accessible to all who did not get a
chance to see it,” he said.



Ralph G Collins, in his lifetime a
prominent citizen, politician and busi-
nessman in the Bahamas, built the
mansion shortly after the 1929 hurri-
cane on his large estate that stretched
from Shirley Street to Wulff Road.

The building has had many owners
over the years.

St Andrew’s School Limited
acquired a portion of the property
from the Collins Estate in 1950. It
was purchased by the government in
1970 and has been occupied by the
Ministry of Education since June
1972.

The great response to this year’s
event has definitely made it a ‘must’
for 2010, organisers said.

And Chef Jamal Petty’s show was
received so well by the audience that
plans are in motion for a new season
of his ‘Island Flare Celebrity Cooking
Show’ to be taped in the front of a
live audience every week.

The Rotate Event was organised
by six enterprising young Bahamian
men. Team members included
Ranard Henfield, Sammi Starr,
Scharad Lightbourne, Jason Fergu-
son, Cameron Smith and Chef Jamal
Petty.

¢ New Year’s Eve Parties

ATLANTIS, PARADISE ISLAND
In addition to a special
junkanoo parade and fire-
works at a Marina Village,
Atlantis is hosting the follow-
ing parties:

- For children, Atlantis is
offering the New Year’s Eve
Non-Stop Party at Atlantis
Kids Adventures.

For kids aged three to eight,
Atlantis Kids Adventures pre-
sents Renee Adams, an inter-
active entertainer who will
keep all the little ones
engaged. The party starts at
6.30pm and reservations are
required. Call 363-3000 for
more information.

- For teenagers (13-17),
Atlantis is putting on the ‘Cel-
ebrate Like Celebrities New
Year’s Eve Party’.

Teens are encouraged to
dress up like their favourite
celebrity for the ultra-lounge
dance party. Complimentary
apple ciders are offered lead-
ing up to the countdown at
midnight.

Call 363-3000 for more infor-
mation.

- For Adults, Aura Nightclub
presents the New Year’s Eve
Gala 2009

with DJ Rashida from Ameri-
ca's Best Dance Crew

There is complimentary
champagne for the toast at
midnight. For table reserva-
tions contact Jason Kushel at
424-8746.

aa

Green Parrot celebrates New
a Ace lesm eM NMC M em ecUne mcs
DJ.

Guests can enjoy a great
view of fireworks over the
harbour and three course
dinner with a glass of cham-
pagne for $55 per person.
Call 322-9248 or visit Green
Parrot on East Bay Street for
ely

SENOR FROG’S

New Year’s celebrations start
at 8pm. It’s $60 for open bar,
dinner costs extra and reser-
vations are required for din-
ner.

Guests can ring in the New
Year on the waterfront and
then enjoy the junkanoo
parade!

Parking is available at the
British Colonial Hilton. Call
323-1777 for more informa-
tion.

ON tome

The restaurant’s special New
a GlatsaleM OU AN ALUM eHIU Ceci)
A(o)U/meolUlesxeMe LINN TVMNUINNMAaLsOLe
selections, a champagne
toast, live band, fireworks
and a junkanoo rush-out.
The party starts at 7pm and
tickets are $125 per person.
Call 327-4500 for more infor-
mation.

VILLAGIO

The Italian restaurant in the
Caves Village is offering a
five course dinner, music,
dancing and cocktails for
New Year’s.

Dinner is $160; $210 with
unlimited beverages; the par-
ty of dinner is $100 per per-
son.

Call 327-0962/5 for reserva-
tions.

BAHAMAS HARVEST CHURCH
The church is ringing in the
new year with a special
countdown celebration at the
Sheraton Nassau Beach
Resort Convention Centre.
Doors open at 9.30pm.
Pastor Mario Moxey will
deliver his prophetic mes-
sage for 2010 during the
VCUIIG



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THE TRIBUNE

WEDNESDAY, DECEMBER 30, 2009, PAGE 11B



ARTS



Mr Beeds

making strides

NOW that he has firmly
established himself on the
local music scene, hip hop
artist ‘Mr Beeds’ is making
strides towards his interna-
tional break-through while
working on his sophomore

album.

Mr Beeds, born Ricardo
Wellington Forbes, has been keep-
ing busy, and after having released
the video for his single “Aaa-
Choo” he is already working on
his next video.

He says his long-term goal as
an artist is to “travel the world
and inspire people to make this
world a better place.”

So far, he has already per-
formed in the Cayman Islands and
in Florida.

His debut album, “Peak State”,
has been described as “a socially

Influenced and inspired by a
variety of artists such as Marvin
Winans, Wyclef Jean, Outkast, P
Diddy, Gnarls Barkley, Capleton,
Jonathan Butler and Michael
Jackson, just to name a few, Mr
Beeds has created his very own
style.

The artist’s fun, honest and
eccentric personality translates
into what he calls “inspirational
music with a touch of comedy.”

Born and raised in Nassau, the
32-year-old hip hop artist attend-
ed C C Sweeting secondary high
school and the College of the
Bahamas where he obtained a
degree in agriculture.

His father supported his choice
to enter the music industry and
his mother encouraged Ricardo to
join the church choir so he started
singing from an early age.

Ricardo explained how he
came by the alias ‘Mr
Beeds’: “I had a

wore a lot when I was much
younger. A friend started 4
calling me Supabeeds then ,
it evolved into Mr Beeds.
Some people still call me
Supabeeds today.”

Mr Beeds said he is
always inspired by his fans,
especially when he hears
about his music helping to
change lives for the better.

He aims to bring across a mes-
sage of hope and utilises his
Bahamian dialect to do this, while
still making his songs accessible to
international listeners.

Mr Beeds says music is his life and
his life experiences make his music,
always coming straight
from the heart.
























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actor, script writer and director
who has done work in the
Bahamian film industry.

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INSURANCE MANAGEMENT
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INSURANCE BROKERS & AGENTS

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Mr Beets

making strides
see page 11

New Kid on
the block

see page nine



=

WEDNESDAY, DECEMBER 30.2009

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*












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“If you go into the Sistine Chapel
you will see Michaelangelo’s the
“Creation of Man,’ the individual
featured is nude. If you look at a
lot of biblical images used in church-
es, many of them reflect nudity
which is the essence of man.”

“am intentionally not being spe-
cilic or trying to be illustrative,
because it is important for other
people to add their voices,” said Mr
Roberts.

“Where you are, whatever your
experiences are, you should bring
them with you when you see my
work.”

When asked to break down his
vision for the pieces, he declined.

“You interpret what you see.
Bach piece should be surveyed
based on your experience and what
you bring to the work.”

The whole idea is to have exhibits
that will get the public’s attention
and help them see art in a different
light, he said.

“\ try to make something inter-
esting out of the things people dis-
card.”

While all pieces show women
doing different things in the nude,
none of Mr Roberts’ paintings are
erotic in nature.

Mr Roberts’ desire is to have the
art experience become meaningful
at every level, intellectually, aes-
thetically, emotionally and spiritu-

ie |

By REUBEN SHEARER
Tribune Features
Reporter
rshearer@tribunemedia.net

NUDITY is depicted
in art pieces in gal-
leries all around the
world. And now this
particular subject,
which often attracts
controversy in the art
world, is coming to
Nassau.

Next month, Antonius
Roberts is sure to cause a stir
when opens his new exhibition,
entitled ‘The Naked Truth’,
which will feature paintings and
sculptures of naked women in
various degrees of exposure.

Some people who see the
pieces will be completely

“turned off” by them, Mr
Roberts told Tribune Art.

But he feels that this exhibi-
tion is something that has to be
done in order to start a dialogue
on pertinent issues in Bahami-
an’s minds.

Mr Roberts approaches his
sculptures and paintings with the
intent of having fun - splashing,
scraping, pushing, pulling, drip-
ping, wiping and carving his way
into a state of animation.

Intuition and his visual sensi-
bilities click in, then the dialogue
begins.

One of the Bahamas’ most
noted artists and sculptors, Mr











Roberts said he is motivated by
a personal philosophy that can
be briefly described as ‘conser-
vation, transformation and
preservation’.

These words are well illus-
trated by his famous Sacred
Space concept.

‘Sacred’ is a word he uses a
lot and it is a word intended to
reflect his spiritual inspiration,
his own creative freedom of
expression and his desire to
inspire others to preserve those
things that should be left intact
to bear witness to their cultural
heritage.

Ata preview of his latest exhi-
bition in a studio and gallery on
Prospect Ridge, Tribune Art got
to see that Mr Roberts is not
tiptoeing around the issue of
nudity in any way.

And he quickly explained
his reasons for creating his
nude art:








A a lh oh ee te

4 i
ally.

“T’ve used a lot of women in my
work,” he said.

“This whole image of the perfect
woman, or this essence of beauty is
what sells and captures people’s
attention.”

‘The Naked Truth’ exhibition will
be on display in the lobby at the
Central Bank of the Bahamas from
January 11 to February 12, 2010.

And while there’s no official

‘This whole image of the perfect woman, or this essence
of beauty is what sells and captures people’s attention,

opening, Mr Roberts looks forward
to the day the public will be able to
view his latest work.

The exhibition seeks to touch on
hot button issues in the community.

“Such issues are the marital rape
law, capital punishment, gender
identity and the position of the
church in all of this,’ Mr Roberts
said.

He questions whether we as a
people are comfortable talking
about the state of affairs in our
country and globally.

And this upcoming exhibition
isn’t the first time he’s dealt with

nudity.

“This body of work is not for sale,
it is just my response and reaction to
what is happening in the communi-
ty today,” he said.

“As a citizen of the Bahamas, I’m
just lending my voice to it, not mak-
ing any judgment call.”

Mr Roberts said he doesn’t want
to pass the blame on anybody. He
promotes his works to continue the
public dialogue so he can get to the

- Antonius Roberts —

core of how to debate these issues,
and find a solution.

“Most of my exhibits are about
making a social statement,” he said.

“All of us need to use whatever
talents and/or resources that we
have to deal with the concerns that
are prevalent in our society today.”

The pieces of in ‘The Naked
Truth’ exhibition will have individ-
ual titles and Mr Roberts expects
people to also react to those.

“A lot of these things are hap-
pening behind closed doors and we
are not talking about them,” he said.

Explained on of the paintings,







which depicts a bap-
tism, featuring a
woman with her bare
breast, the artist said:

“For me it was the
whole image of an
innocent young lady in
an archway, that sort of
mirrors the holy arch-
ways that you see in
churches.”

Behind this woman

there’s an older man holding a
Bible, reading the Psalms. Shes
standing within the space, and
they’re both within close proximity.

“There’s a connection and dia-
logue that is happening here. That
relationship and dialogue that is
happening in society between older
men and younger women.”

Mr Roberts said that because he
as an “artist’s license”, he can take
as many liberties as he likes to
express through the brush and
paint a unique vision about cur-
rent issues that are not openly spo-
ken of as often as they should be:



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Po a

a esa)

Ministry te ecru
leachers from UK

Specialists to ‘improve Raia ee EVER YI

numeracy and literacy
in public schools’

By TANEKA
THOMPSON
Tribune Staff
Reporter
tthompson@
tribunemedia.net

SPECIALIST teach-
ers from the UK are to be
recruited to supplement
areas that Bahamian educa-
tors cannot adequately fill,
new Minister of Education
Desmond Bannister has
vowed.

Starting next month, min-
istry officials will cast their
net overseas hoping to con-
tract a "limited number" of
British teachers who spe-
cialise in mathematics, Eng-
lish language and literature.

The move is a short-term
bid to improve the literacy
and numeracy skills lacking
in many public school stu-
dents.

"We will start a recruit-
ment exercise for a limited
number of teachers from
England, and they're going
to be specialist teachers.
They will only be brought
in areas where we don't
have Bahamians to fit the



need," Mr Bannis-
ter told The Tri-
bune.

He would not
reveal how many
spots the govern-
ment hopes to fill

but said the successful
candidates must bring a
wealth of experience to the
table along with a passion
for teaching.

For years, the public
school system has been crit-
icised for producing a num-
ber of students who only
possess rudimentary knowl-
edge of reading and mathe-
matics skills, and enter the
job market ill equipped.

Mr Bannister believes the
problem may be due in part
to a lack of Bahamian
teachers who are willing to
specialise in mathematics
and language concentra-
tions.

"One of the problems is
that we've been graduating
lots of generalist teachers
from the College of the
Bahamas (COB). We have
to focus more now on teach-

SEE page two

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MP Adderley
‘contemplating
joining FNM’

Tribune Staff Reporter
pturnquest@tribunemedia.net

ELIZABETH MP Malcolm Adderley is
reportedly contemplating crossing the floor of

the House of Assembly to join the ranks of
the FNM, sources within the party have sug-
gested.

Initially it was believed Mr Adderley had
been wooed by the governing party to relin-

SEE page 11







“me

pA ‘oes

one





POLICE OFFICERS leave
the prison yesterday
after the accidental
shooting.

By ALISON LOWE
Tribune Staff
Reporter

alowe@
tribunemedia.net




















A PRISON officer
was accidentally shot
while on duty at Her
Majesty’s Prison yes-
terday.

Deputy Superinten-
dent of Prisons,
Charles Rolle, said the
guard was near the
prison armoury when
an attempt by a senior
officer to open a
“jammed” revolver
resulted in a bullet
being discharged.

The guard was left
nursing a gunshot
wound to the “flank”
area. He was rushed to

By MEGAN REYNOLDS
mreynolds@tribunemedia.net

found behind the Anglican
Church head office in Addington
House, Sands Road, was his.

Mr Farrington’s family had
been in daily communication with
police since he vanished without a
trace on November 24.

His sister Christine Ferguson
said he had told his father he was
going out for a short while at
around 5pm, and when there had

SEE page 12

FAMILY and friends of pop-
ular St Andrew’s School graduate
Francis Farrington are coming to
terms with his untimely death,
one month after his mysterious
disappearance.

Police confirmed their greatest
fear just days before Christmas
as the 27-year-old’s dental records
proved the decomposed body




Felipé Major/Tribune staff









Francis Farrington





Tiger Woods ‘spent Christmas in Exuma’






hospital.

The incident took
place shortly before
midday yesterday.

“The family has
been informed and
they are by his side,”
Mr Rolle said.

Last night, the police
issued a statement say-

SEE page 11

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RUMOURS swirled yes-
terday that troubled golf
superstar Tiger Woods spent
Christmas in George Town,
Exuma.

Up until Sunday, Woods
was reportedly seen soaking
up the sun on the island.

Woods, who turns 34 today,
is said to be sailing on a boat
in The Bahamas to escape the
scrutiny and media coverage.

Meanwhile the sex scandal

that has engulfed him may
have cost shareholders of
companies endorsed by the
world's No. 1 golfer up to $12
billion in losses, according to
a study by two economics pro-
fessors from the University of
California.

The study, released on
Monday by researchers Victor
Stango and Christopher Knit-
tel, gave an estimate of dam-
age to the market value of

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Woods’ main sponsors caused
by revelations of alleged
extramarital affairs that sur-
faced after he was involved
in a minor car accident out-
side his Florida home on
November 27.

"We estimate that share-
holders of Tiger Woods’ spon-
sors lost $5-12 billion after his
car accident," the researchers

SEE page 11

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PAGE 2, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



LOCAL NEWS



CUBA: Havana says all |
four Florida Senate =:
candidates will be had |
for relations with US
HAVANA

CUBA'S official media
lashed out at all four main
candidates to become
Florida's next senator —
Democrats and Republi-
cans alike — saying this
week they will do nothing
to improve relations
between Havana and
Washington, according to
Associated Press.

Republicans Marco
Rubio and Charlie Crist
and Democrats Kendrick
Meek and Maurice Ferre
all have voiced support
for continuing Washing-
ton's 47-year trade embar- }
go on the island, accord-
ing to an article Tuesday
in the Communist Party
newspaper Granma.

The paper called them
part of a "Miami mafia
machine that dominates ;
the city and North Ameri-
can policies toward :
Cuba."

Rubio, the son of
Cuban parents, is a con-
servative former Florida
House speaker who is
challenging Gov. Crist for
the Republican nomina-
tion.

Meek is a Democratic
Congressman, and Ferre
is a former mayor of Mia-
mi.

Each candidate
addressed the hardline
US-Cuba Democracy
Political Action Commit-
tee (PAC) last week,
arguing why he would be
the best to fight for
democracy in Cuba.

Florida is home to hun-
dreds of thousands of
Cuban exiles who have
left the communist-run
island since Fidel Castro's
1959 revolution. US-Cuba
policies are one of the
main issues that dominate
the state's politics.

While many Cuban-
Americans favor a hard-
line approach to the
island, polls indicate a
growing number support
efforts to improve rela-
tions.

sing Thread:
Dress Pants from

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ur Mol a enn tr

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

New minister: public

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE public school system is in the
middle of a crisis, the newly appoint-
ed minister of education admitted.

While acknowledging that his min-
istry cannot immediately solve the
complex issues which have developed
in the county's schools over the last 30
years, Desmond Bannister said it is
time to confront the challenges.

For years the government school
system has been plagued with student
violence and gang activity, com-
pounded with allegations of “social
promotion” of poor-performing stu-
dents.

"We do have a crisis in the public
educational system and it's an issue
that we as Bahamians have to address
and we have to address it head on.

Desmond Bannister says it is
time to confront challenges

“Over the past three decades or so,
we've created the kind of society
which is causing the kind of problems
that we are having now in our
schools," said Mr Bannister, who
insisted that there are many good
things happening in the public school
system as well.

"The ministry cannot solve it on its
own and there is no short-term fix.
The most you can do is start in the
right direction and so we have to start
concentrating on school children all
over again, we have to increase the
attention to literacy efforts, reading,
writing, and we have to concentrate
on issues like character development

and also social skills in young people,
improving conflict resolution.

"For too long we've just assumed
that things are going to get better —we
have to find ways to make it better —
we have too many kids coming out
of school who just can't read and
write.

"We have too many students who
are coming out of primary school who
are reading below grade level, they
have poor numeracy skills, they are
going into high schools and so these
young people are coming out of
school without the literacy skills which
are required by society. As a result,
many of them are frustrated and they

schools are in ‘crisis’

themselves are having problems," he
told The Tribune during a recent inter-
view at the Ministry of Education.

The ministry has plans to recruit a
number of specialist teachers from
the United Kingdom early next year
to help improve numeracy and litera-
cy skills in public school students (see
page 1).

It's an initiative that was envisioned
under the term of former education
minister Carl Bethel, who resigned in
November to commit full time to his
post as FNM chairman.

Education officials also hope to
expand a parenting skills programme
which was launched earlier this year as
a pilot study in Grand Bahama.

Mr Bannister said the programme
was met with lukewarm attendance
by parents on that island, but he hopes
that if the project is expanded, more
struggling parents will enroll.



Bannister inspects progress of
Anatol Rodgers High School

MINISTER of Education
Desmond Bannister visited
the Anatol Rodgers High
School on Faith Avenue
last week to inspect the
progress of the work being
carried out at the facility.

Mr Bannister said it is a
priority for him to see the
school fully operational and
free of construction activity
as early as possible in the
new school year.

Ran-Mar Construction is
carrying out the work, and
the company estimates that
the job should be finished
in early 2010.

The minister toured the
perimeter of the school,
inspecting the temporary
barriers in place to ensure
that students remain on the
campus and trespassers are
kept out.

Mr Bannister also
inspected the science and
home-economic labs as well
as the school’s gymnasium
to see the progress of the
work in those areas.

Since the last inspection

Ee sins
OTL LaLa
eM iO

Pa ty
822-2197





EDUCATION MINISTER DESMOND BANNISTER discusses the completion works at the Anatol Rodgers High School. (From left) Min-
ister Bannister and contractor Randy Penn.

of the school in November
2009, the entrance and the
front and side parking areas
have been paved and eight
of 12 wells have been dug
to prevent flooding on the

8 Pc. Chicken

oe Eom Busey

1 Lg. Mashed
Potato w/Gravy
RHUL ES



grounds.

Lunch pavilions complete
with seating areas have also
been erected in the senior
and junior blocks.

Randy Penn, head of

Ran-Mar Construction,
assured the minister that
once certain changes to the
plans are approved by the
ministries of Education and
Works, the air-condition-

ing systems for the gymna-
sium and the remaining
work on the science labs
will be completed, as well
as any other outstanding
works.

Ministry to recruit
teachers from UK

FROM page one

ers who have very specific
skills that they can bring to
the table.

"We have to focus on
teachers who are not afraid
of mathematics, not afraid
of development of these
literacy skills in children,
because some teachers will
tell you, in all fairness to
them, that these are issues

that they are afraid of," he
said.

Mr Bannister revealed
that of the hundreds of stu-
dents expected to gradu-
ate from COB's teaching
programme next year, only
two teachers are registered
in the accounting concen-
tration, 31 in the mathe-
matics stream, and 18 in
language and literature.

By contrast, 172 students

INDEX

MAIN/SPORTS SECTION

CLASSIFIED SECTION 28 PAGES

USA TODAY MAIN SECTION 12 PAGES



are expected to graduate
from the primary educa-
tion concentration next
year, he said.

Mr Bannister said the
numbers expose the urgent
need for the Ministry to
find and develop more
Bahamian teachers who
are willing and able to spe-
cialise in daunting subject
areas,

"We get a lot of teach-
ers who are very good stu-
dents now but there are a
lot of people who are top
students in their schools
who are being told
‘become a lawyer, become
a doctor’ and we have to
make sure that some of
them also consider that
education is a wonderful,
rewarding and personally
enriching area," said Mr
Bannister, who assumed
the post of Minister of
Education on December 1.

Prior to this promotion,
Mr Bannister was the Min-
ister of Youth, Sports and
Culture and a former Min-
ister of Legal Affairs.

Mr Bannister, a senior
partner in the law firm
Evans and Co, has also lec-
tured part-time at the
Bahamas Institute of
Bankers and at COB.


THE TRIBUNE

WEDNESDAY, DECEMBER 30, 2009, PAGE 3



LOCAL NEWS



Boaters who
(lied in Exuma
are identified

THE BOATERS who
lost their lives when
their boat capsized in
Exuma have been iden-
tified by police as
brother and sister
Charles and Marilyn
Morley.

Charles Morley, 51,
of Grand Bahama and
his sister Marilyn, 45, a
resident of George
Town, Exuma, were out
fishing on a 12-foot
Carolina Skiff with
another woman when
their boat overturned in
the Fowl Cay area at
around 11.30am on Sat-
urday.

Passing boaters res-
cued the woman, who
has not been identified
by police, and the life-
less bodies of Mr and
Miss Morley were
found nearby.

Officers investigating
the incident say the trio
had set out on their
fishing trip from an
area known as the Cot-
tage in Exuma and
were capsized by swells
near Fowl! Cay.

Defence Force officers
warned over missing gun

Minister says all 14 onboard vessel could
be disciplined if no explanation given

SNOT WAUMC ele] toa



By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

AS POLICE continue their inves-
tigations into the disappearance of a
gun from a Defence Force vessel,
the Minister of National Security
has warned that all 14 officers
onboard at the time could be disci-
plined if no explanation of its where-
abouts is forthcoming.

The officers were confined to their
ship — the Guanahani — for several
days over the Christmas period,
before being placed on continued
lockdown at the Coral Harbour
base, as police were brought in as
part of an effort to locate the
weapon.

Yesterday a senior police officer
declined to comment on the status of
the Central Detective Unit’s inves-
tigation into the matter, adding only

that it is ongoing.

Minister of National Security
Tommy Turnquest said the officers
have “a certain time-frame in which
to answer” inquiries as to the loca-
tion of the gun or how it came to
disappear, or all will face discipli-
nary action.

Patrol

The gun was found to be unac-
counted for while the officers were
on patrol in the Ragged Island area
before Christmas.

Mr Turnquest said unlike police
guns, the weapon would not have
been assigned to a particular offi-
cer, but rather there would have
been a certain number of guns
signed out for that particular patrol
mission.

Asked yesterday if he is support-

ive of the decision to keep the offi-
cers confined while investigations
continue, Mr Turnquest said: “What
I am supportive of is all firearms
being accounted for.

“We have in place a management
team responsible for the RBDF and
they’re to follow established proce-
dure and when they don’t then we
know what to do.

“We have an unacceptable crime
level and we have large numbers of
illegal weapons out there so until
we find it we’re not satisfied,” said
the minister.

Asked exactly what type of gun
is missing, Mr Turnquest said he is
not sure. He said that he is not
aware of any other RBDF weapons
going missing in recent times.

“IT know it’s a firearm and from
my point of view that’s serious
enough that it has to be found,” he
said.

Mobile machines on track to
improve passport applications

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE distribution of mobile
finger-printing and electronic
signature machines will make it
easier for Family Island resi-
dents to apply for digital pass-
ports in the new year.

Minister of National Security,
Brent Symonette, said the gov-
ernment is on track to imple-
ment the mobile enrolment sys-
tem in the Family Islands begin-
ning in January.

The system will enable Fam-
ily Island residents to submit
passport application forms with
their fingerprints and digital sig-
natures remotely.

During several weeks of live
testing, Prime Minister Hubert
Ingraham served as a test sub-
ject, being enrolled for his new
passport using the mobile sys-
tem.

Once the system is on stream,

the government intends to send
passport officers to the Family
Islands, including those without
government offices, such as
Spanish Wells.

Also set to come on stream in
January are online applications,
said Mr Symonette. Bahamians
will be able to apply for their
passports over the Internet,
meaning the entire process will
require two visits to a passport
office instead of three.

Since the government initiat-
ed the change-over to digital
passports two years ago, more
than 20,000 people have been
processed. The government is
strongly encouraging Bahami-
ans to meet the May 2010 dead-
line. At that time, the govern-
ment will cease to renew the
old non-machine-readable pass-
ports — even in emergency cases.

“At this moment, the pass-
port office is doing very well.
We are happy with the delivery
time, even though some experi-

ence a few problems. As time
goes on, it will be more diffi-
cult for Bahamians to use the
old passport,” said Mr Symon-
ette.

“We are encouraging
Bahamians to use the opportu-
nity to apply early. Do not wait
until the summer, when there
will be a rush on the office,” he
said.

Once a new digital passport is
issued, the applicant’s old pass-
port is cancelled. All foreign
visas in the old passport remain
valid until their date of expiry.

Based on the international
system of machine readable
passports, international airports
will eventually stop accepting
the old Bahamian passports,
said Mr Symonette.

He pointed to the subtle
changes already occurring in
international airports, such as
those in the United States. Trav-
ellers are channeled into self
check-in lines that require a dig-

The Bahamas concludes TIEA
negotiations with 23 countries

THE Bahamas has successfully concluded Tax
Information Exchange Agreement negotiations
with 23 countries to-date, and the government
says it expects to exceed the OECD’s required
minimum of 12 signed agreements by the March

2010 deadline.

To-date, the Bahamas has signed 10 TIEAs
with the following countries: the United States of
America, Monaco, San Marino, the United King-
dom, New Zealand, the Netherlands, the Peo-
ple’s Republic of China, Argentina, Belgium

and France.

TIEA negotiations have been successfully
concluded with Germany, Canada, Spain, Mex-
ico, Australia, South Africa, South Korea, and
the seven Nordic countries of Norway, Sweden,
Finland, Denmark, Iceland, Greenland and the



Faroe Islands.

The government said these countries will for-
mally sign agreements once they complete the
internal procedures required for the signing of

vices.”

treaty instruments.

Said the government in a statement: “It is to
be noted that the Bahamas is actively partici-
pating in the international dialogue concerning
the regulation of international financial ser-

It noted that in September of this year, the
Bahamas was elected to membership of the
OECD Peer Review Group; a group comprising
members of a re-vamped OECD Global Forum.

The Peer Review Group is responsible for

developing a programme of peer reviews to mon-

itor progress of the implementation of the tax
information exchange standards among the 90-
plus members of the OECD Global Forum.

“The government is committed to safeguard-
ing this important segment of the Bahamian



economy by ensuring that the Bahamas remains

a well regulated jurisdiction which meets evolv-
ing standards for offering international finan-
cial services,” the statement said.



ital passport to be swiped and
read by a machine. Manual
check-in by agents is becom-
ing obsolete.

While old Bahamian pass-
ports will remain valid as long
as they have not expired, Mr
Symonette said governments
internationally are onboard
with the digital system and it
is at their discretion to choose
or refuse to accept non-
machine readable passports at
any time.

SO NNeIO

IN THE report on the stab-
bing death of Terrone Albury
as he tried to break up a fight at
an Eleuthera nightclub in the
early hours of Monday morn-
ing, The Tribune stated that Mr
Albury was the grandson of the
late Rev Cladwell Armbrister.
This is incorrect, including the
reverend’s name.

The man being held by
police for questioning in con-
nection with the stabbing death
of Mr Albury is the great
grandson of the late Rev Clad-
well Farrington, a well respect-
ed religious minister at
Eleuthera. Rev Farrington was
not related to the homicide vic-
tim.



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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
an
Na LY,

PAGE 4, WEDNESDAY, DECEMBER 30, 2009

EDITORIAL/LETTERS TO THE EDITOR

(_"\
Na DY,

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

Commercial party in residential area

JUST AS fish vendors were allowed to
squat on the Montagu foreshore with no
one paying attention to them until they
became an undesirable problem, so also will
some property owners on the Eastern Road
devalue the area if their commercial prac-
tices are allowed to continue. Now is the
time for decisions to be made. Whatever
laws exist should be enforced and where
laws are still needed to plug the loopholes,
they should be drafted.

At one time our zoning by-laws were tak-
en seriously. Anything east of the Montagu
foreshore was residential.

An earlier generation of Bahamians
would laugh and say that the Eastern end of
the island — the healthier end — was
reserved for Bahamians while the swampy,
mosquito-infested west was sold to the
unsuspecting foreigner. Over time the
swamps were filled in; as a result there were
fewer mosquitoes. The west eventually
became as desirable as the east.

The late Sir George Roberts, president of
the Legislative Council, moved his family
from their Village Road residence, to a new
home that he had built on a magnificent hill-
top waterfront site on the Eastern Road.

It was next door to the late Sir Asa
Pritchard, Speaker of the House of Assem-
bly, who had as his neighbour the historic
Hermitage, built by Lord Dunmore as his
residence between 1787 and 1796, bought
in 1932 by Cardinal William O’Connell,
Archbishop of Boston, and now owned by
the Catholic Archdiocese. It is the residence
of Catholic Archbishop Patrick Pinder.

Sir George and Lady Robert’s home and
gardens were considered among the most
elegant on the Eastern Road, so much so
that the family had to put up iron gates to
prevent taxi drivers from including “Lucky
Hill” in their guided tours.

Since the death of Sir George and Lady
Roberts the estate has passed through many
hands.

It is now owned by a Londoner, and,
according to an advertising teaser on Face-
book, a peaceful residential area has turned
commercial.

Recently it was advertised as a one night
event of a Red Eye tour that claimed it took
in three cities, three parties, one event, one
night.

That one night was December 27th at
what was described as “Lucky Hill Man-
sion.” The one night stand shattered the
peaceful, upper class neighbourhood with
raucous music until after 4 o’clock in the
morning, leaving on the Eastern Road the
next day a wasteland of styro foam cups,
paper plates and offensive litter. To say res-
idents of the Montagu-Eastern Road fore-
shore are angry would be an understate-
ment. Not only are they angry, but they
intend to do something about it.

The police have been contacted. Their



ae : ‘
t J CASOMS



= a * ‘.
\ Greetings

Pease be advised that Executive Motors Ltd. and
Chuality Auto Sales Ltd. will be closed as follows

during the Christmas Holidays

MP has been notified and our e-mail is over-
loaded with residents’ complaints.

It is not clear what type of service is being
offered by the entertainment company, but
its advertisement says its flight takes off at
12.27, boarding time 9pm— however, it fails
to say where one is to board the aircraft. In
its video it sings of flying direct to South
Beach in Miami, taking in New York and
Kingston, and ending Sunday night with the
big event at “Lucky Hill Mansion.” Coach
class tickets for $25, as well as pre-sold class
tickets were available. The advertisement
listed Business Class and First Class. So
whatever it is, it is a money-making com-
mercial enterprise. Unfortunately the imag-
inative entrepreneur chose the wrong loca-
tion on which to establish his money-maker.
It succeeded in destroying a peaceful Sunday
evening with offensively loud music and
equally offensively loud party-goers.

Residents alerted their MP Loretta But-
ler-Turner on the eve of the event to try to
head it off before it started. Mrs Turner
wrote immediately to Asst Supt Ismella
Davis, Officer in Charge of the Fox Hill
Police Station, sending her the link that
advertised the event so that she would be
aware of “what one of the finest Bahamian
residences on the Eastern Road is being
used for.”

Her letter continued: “They plan to par-
ty until 4am and there is a cover fee begin-
ning at $25.

“This is a residential area not zoned for
commercial activity.

“This residence has been used for similar
events in the past and created quite a lot of
disturbing noises for the surrounding neigh-
bours and areas.

“T have already contacted the Fox Hill
Police to alert them and to see if they will
shut this down before it even starts,” Mrs
Turner’s letter continued. “This is a small
step in ensuring that laws are respected and
observed in our communities.”

Mrs Turner said yesterday that ASP
Davis told her that she had the party plan-
ners into the police station and told them
that if they violated the noise level and cre-
ated traffic congestion, the police would
close the party down. According to the e-
mails we have received residents claim that
both were violated.

Mrs Turner than asked ASP Davis to call
the owners of “Lucky Hill” to discuss their
plans for the property. Mrs Turner is now
concerned that she has heard no more from
ASP Davis.

It would be interesting to know if the
owners got a commercial licence to hold this
party on the Eastern Road, and if so who
would have been so slow-witted as to have
granted it. It is now up to residents and
their MP to end these parties if only to main-
tain the high standards of the eastern end of
the island.



BIFF film boldly

tackles emotionally
disturbing issue

EDITOR, The Tribune.

Amongst the fine selection
of international films the
Bahamas International Film
Festival (BIFF) had on offer
this year was a feature
Bahamian film written and
directed by Kareem Mortimer
(intriguingly entitled ‘Chil-
dren of God’) that drew the
larger audience at the Galle-
ria venue. Like many Bahami-
ans I wanted to see what this
film was all about — espe-
cially engaged as I was by the
write-up it received in the
brochure.

“Children of God is the
religious concept that human
beings are regarded by God
as His children and is used by
Christians to refer to human
divinity.” The first part of this
one might understand as the
way a genuine Christian
would view all true brothers
and sisters in Christ — we’re
all “children of God” if we
take Christ for our personal
Saviour. But the latter part of
that statement — the bit
about “human divinity” — is
not so much a Christian as a
New Ager’s claim.

We’re further told that the
film’s protagonists work
through their lives’ dilemmas
against “a backdrop of a
nation grappling with violent
homophobia (fear of homo-
sexuality)” by journeying to
freedom-promising Eleuthera
where the paths of the two
protagonists cross — signifi-
cantly in a church sponsored
townhall-type meeting.

The issue is the nascent if
not already rampant wave of
homosexuality becoming evi-
dent in the country as in much
of the dominant culture next
door (the US).

The feeling one has regard-
ing the youthful artist’s timid
“closeness” is that he’d have
been more at home dealing
with his dilemma in the 60s
in the US with its wildly care-
free ethos of sexual experi-

LETTERS

letters@triobunemedia.net



mentation and that his jour-
ney of self-exploration in
Eleuthera would reveal his
and his friend’s nascent
homosexuality.

The concern of the older
generation has two major
spokes-women — the middle
aged mother of a pubescent
lad whose husband has homo-
sexual liaisons which she’s
only just begun to suspect.
She sees the only way to try
and save her marriage is by
getting her husband to join
her in Eleuthera for the cam-
paign to bring this social prob-
lem to the Government’s
attention.

The other is the Nassau-
based mother of the other
Bahamian youth in Eleuthera
playing with a band but also
exploring the limits of rela-
tionships, uncertain as he is
of his relationship with his
girlfriend back in Nassau.

I hadn’t anticipated the
explicitness and courage with
which the “violent homopho-
bia” referred to in the write-
up would be dealt with by Mr
Mortimer but the homosexu-
ality-related murders that
occurred a year or two ago
have clearly put the phenom-
enon front-and-centre in the
minds of many concerned
Bahamians.

There was also explicit ref-
erence to the general Bahami-
an concern that the Bahamas
not become a prime destina-
tion for “alternative lifestyle”
(homosexual) tourism —
something that also was part
of the dawning national con-
sciousness of this problem a
few years ago.

The explicitness of its treat-
ment certainly accounted for
a significant percentage of the
audience (especially parents)
leaving quite early in the film
presumably anxious that their

children not be corrupted by
the goings on in the film.

It would seem that Mr
Mortimer intuits very realis-
tically how sensitive and emo-
tionally charged an issue he
has broached in this film by
having his timid “hero” get
enough courage by the end of
the film not merely to ques-
tion why people are making
so much of the whole matter
(homosexuality) at the town
hall meeting but to actually
confront one of the local bul-
lies and taunt him by allud-
ing to his homophobia.

To be called a “sissy” pub-
licly in front of his bully pack
of friends was the straw that
broke the camel’s back and
the pent-up emotion explodes
on him and to his terrible cost.
Mortimer’s film has some of
the quality of that taunt, chal-
lenging this society to look a
lot more closely at itself in its
self-examination.

All we can hope is that the
societal response to his chal-
lenge isn’t as violent.

BIFF has once again
demonstrated that it is the
film festival with a distinct dif-
ference — it includes films
(both short, documentary and
feature length) that boldly
focus on certain very emo-
tionally disturbing issues (a
few years ago the focus was
on the atrocious tradition of
female circumcision).

By focusing our attention
on these it is hoped that some
greater awareness and under-
standing (if not outright reso-
lutions) of these issues may
be achieved.

Ms Vanderpool has indeed
made a significant contribu-
tion to this society — not
merely its entertainment but
its edification.

CONCERNED
Nassau,
December 21, 2009.

Welcome to the Real World

EDITOR, The Tribune.

There is an article in the
Economist (December 12th)
about America’s public-sec-
tor workers being coddled
and spoiled.

This it points out is no
longer economically or polit-
ically acceptable and some-
thing has to be done.

This, of course, applies to
most countries and the
Bahamas is no exception.
There is a huge surfeit of
public sector employees in
most countries who are eat-

NASSAU GLASS
COMPANY'S

Vf] So OLIDAY

s 1 \\F« CLOSING DATES

WE WILL BE CLOSING AT

ing up the resources and
those who are the produc-
ers no longer have the abili-
ty to produce enough to pay
for the non-producers (ie
public-sector employees).

The unfortunate part
about this is that because the
public sector employees are
as it says, coddled and
spoiled, and unless politi-
cians have the will to cor-
rect this nothing will hap-
pen.

Public sector employees
generally have guaranteed
employment and guaranteed
pensions that the private
sector employees do not.

Yet their performance is
grossly inefficient and com-
plaints about their attitude
are legion and now I am
talking about the Bahamas.
Phones are not answered,
letters and faxes are not
answered and agreements
are not adhered to.

Of course there are always

oasis of efficiency among the
group but few.

Here for example we wit-
ness customs officers who
are indicted for fraud and of
course they may be innocent
but obviously the govern-
ment does not think but is
afraid to take them to court.
So instead they give a very
bad example to the others
as some are retired with full
pensions.

Where is the political will?
There are many examples
around the world of this and
it is about time that we all
collectively said enough is
enough and we would like
to welcome the public sector
employees to the Real
World — or cut bait and get
out of the boat, I think the
saying is.

PATRICK H
THOMSON
Nassau,

December 20, 2009.

A Bamboo Shack for COB

EDITOR, The Tribune.

Thursday, December 24, 2009 -
Christmas Eve








Closed at 1:00 pm

é Friday, December 25, 2009
f Christmas Day-Closed

Monday, December 28, 2009 -

Boxing Day Observed - CLOSED
Thursday, December 31, 2009 - { f
New Vear's Eve

( m 4 et January 1, 2010 - i
“a, = New Year's Day - CLOSED |
=

Closed at 1:00 p.m





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Thursday December 24
& Thursday December 31

PLEASE NOTE
WE WILL BE CLOSED
Saturday Dec 26,
Monday Dec 28
and Saturday January 2, 2010
in order to give our staff a
well-deserved rest.

OLS tins everyone a very Merry Christmas
& thanking you for your patronage
UEO)UF 4AM eels

Mackey Street 393-8165



To advertise in The Tribune

Call 502-2394



Bahamianizing The College of The Bahamas (Front Porch
By Simon Nassau Guardian, Tuesday, November 22, 2009)
provided food for both intellectual and, perhaps, future
gastronomic consumption.

Noting that both (Bahamian franchise-owned) Starbucks
— which “did not seem the right fit” — and Sbarro “retired”
from The College of The Bahamas before President Janyne
Hodder, Simon suggested that Bahamian entrepreneurs
such as Julie Hoffer (of Passion Tea and Coffee fame) and
Elaine Williams Pinder, the “extraordinarily entrepreneur-
ial spirit behind and owner of Bamboo Shack”, be per-
suaded to replace the “foreign implant(s).”

Acknowledging “legitimate questions as to whether Mrs
Hodder was the appropriate choice to head COB”— includ-
ing her not having a doctorate, which was “more than sym-
bolic ...especially with university status on the horizon” —
Simon said she could boast of a number of accomplish-
ments, and many were “grateful for her service and wish her
well in her future endeavours.”

During Mrs Hodder’s tenure, on May 26, 2009, following
a $3.3 million renovation of its Oakes Field Campus audi-
torium, COB opened a high-tech Performing Arts Centre.

Perhaps in the not-too-distant future, in light of the uncer-
emonious departure of the now-outgoing Mrs Hodder’s
predecessor, COB will get its own act together.

Merry Christmas.

SIMON ARTZI
Nassau,
December 22, 2009.
(hw

THE TRIBUNE

_

(Wn

WEDNESDAY, DECEMBER 30, 2009, PAGE 5



LOCAL NEWS



DAME IVY DUMONT
HOLDS BOOK SIGNING



SENATOR ALLISON MAYNARD-GIBSON talks with Dame Ivy
Dumont during the book signing .

A BRAND new Bahamian book has been launched this
holiday season and the distinguished author was on hand last
week to sign copies at Logos Bookstore in the Harbour
Bay Shopping Centre.

From Rose’s to Mount Fitzwilliam is the memoir of Dame
Ivy Dumont, seventh governor general of the Bahamas and
the first woman to occupy this elevated post.



. a |
CUSTOMERS stand in line to purchase former governor general
Dame Ivy Dumont’s book, Rose’s to Mount Fitzwilliam, at Logos
Bookstore.

r

Legacy of Thaddeus
McDonald lives on in
Kwanzaa celebration

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE legacy of Bahami-
an scholar and Pan-African
activist Thaddeus McDon-
ald is living on in the work
of young Bahamians, who
are organising a Kwanzaa
celebration this holiday
season.

Kwanzaa, the Swahili
word for “first fruits”, is a
cultural holiday celebrated
in the African Diaspora to
coincide with harvest cele-
brations in Africa during
the same season. It was
developed by the African
American community in
the United States during
the 1960s as a celebration
of family, community and
culture.

Festivities around the
globe run from December
26 to January 1. This year,
Rhonda Wright, Director
of Seedlings Place, a sup-
port group for persons liv-
ing vegan and vegetarian
lifestyles, is organising a
social event on December
31.

She is extending an invi-
tation to those who for-
merly participated in Dr
McDonald’s activities.

“T attended his event
about three years ago.
There was a feeling of uni-
ty. It was an uplifting feel-
ing to be able to experience
a part of our African her-
itage and culture in Nassau
at the first time, for me, at
that level. It was good to
see and experience our
elders in that leadership
role,” said Mrs Wright.

| MONTAGU GARDENS

NEW YEARS EVE 2009
SPECIAL MENU

DECEMBER 31, 2009

Menu

Baby Greens with dressing

Roast prime rib of beef with stuffed

Crawfish topped with a sauce
| Roasted Rosemary potatoes

Fresh glazed carrots
Baked cauliflower, with cheese

Dessert

Guava cheese cake

or
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Price $30.00 per person

15% Gratuity

menu, favors forall guest

You. canjalso order off the dinner |
d

Happy New Year
Tel: 394-6347

For reservations

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



“It was an uplifting feeling
to be able to experience a
part of our African heritage
and culture in Nassau at the
first time, for me, at that
level. It was good to see and
experience our elders in
that leadership roll.”



Rhonda Wright,

Director of Seedlings Place

For the past two years
Mrs Wright hosted a small
family event.

She said it was important
to her to bring together the
African community in the
Bahamas to carry on the
tradition championed by
Dr McDonald and others.
Her intention is to grow the
event into a nationally
recognised annual celebra-
tion.

Dr McDonald was bru-
tally murdered three years
ago, just two months before
his planned annual cere-
mony that involved drum-
ming, libation, and feast-
ing.

He was known for organ-
ising various activilics,
including pilgrimages to
Africa, in order to foster
African consciousness in
the Bahamas.

His brother, Madison

McDonald, said he was
happy to know Bahamians
were carrying on the tradi-
tion, knowing how enthu-
Siastic his brother was
about conducting the event
every year.

Rhonda Chipman-John-
son, Vice-president of Aca-
demic Affairs at the Col-
lege of the Bahamas, where
Dr McDonald worked, said
she was looking forward to
attending the event the
year Dr McDonald died.

“It was a celebration of
ourselves as black people:
The whole idea that we
have to be proud as black
people. I think that is what
he celebrated throughout
his life. It was a learning
experience for all and I
thoroughly enjoyed it. I was
planning to go the year he
died, but I guess it just was-
n’t meant to be,” said Dr

Chipman-Johnson.

Kwanzaa is not an Afro-
centric version of Christ-
mas, despite popular mis-
conceptions. It is a non-reli-
gious holiday celebrated by
over 40 million people of
African descent around the
world. This was the mes-
sage delivered in The Black
Candle: A Kwanzaa Cele-
bration, an award winning
new documentary directed
by 27-year-old MK Asante
Jr and narrated by Maya
Angelou. The documentary
highlights the meaning and
principles behind the festi-
val and how it is celebrated
around the globe, includ-
ing in the Caribbean.

Kwanzaa is centred
around seven core African
principles:
Umoja (Unity), Kujichagu-
lia (Self-Determina-
tion), Ujima (Collective
Work and Responsibility),
Ujamaa (Cooperative Eco-
nomics), Nia (Purpose), Ku
umba (Creativity),
and Imani (Faith).

“We want to continue the
celebration to be able to
bring our African brothers
and sisters in the Bahamas
together to celebrate on
common ground regardless
of your religious or spiritu-
al persuasion. It is an
acknowledgment and cele-
bration of our ancestry and
us as black people, recog-
nising what we have accom-
plished over the year, cele-
brating our harvest and
what we will reap in the
next cycle,” said Mrs
Wright. Interested individ-
uals can contact organisers
at seedlingsplace@gmail.com.

HL:
PRE ATU

CHRISTMAS & BOXING DAY
HOLIDAY HOURS

Thursday, December 24, 2009 - 9:30am - 1:00pm
Friday, December 25, 2009 CLOSED
Monday, December 28, 2009 CLOSED

Open for Business
Tuesday, December 29 - 9:30am - 3:00pm

Wednesday, December 30 - 9:30am - 3:00pm
Thursday, December 31 - 9:30am - 1:00pm

NEW YEARS HOLIDAY HOURS

Friday, January 1, 2010 CLOSED
Normal banking hours resume
Monday, January 4, 2010

CLEARING BANKS Bank of The Bahamas Limited
ASSOCIATION MEMBERS = citiBank, N.A. Bahamas
Commonwealth Bank Limited
Fidelity Bank Bahamas Limited
FirstCaribbean International Bank
RBC Royal Bank of Canada
Scotiabank (Bahamas) Limited




PAGE 6, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



LOCAL NEWS

Police probing two armed robberies

POLICE are investigating two
armed robberies that occurred in
New Providence yesterday.

Around 2.08 pm yesterday,
police received a report of an
armed robbery at Tippy's Liquor
Store in the Pinewood Gardens
subdivision.

An employee told responding
officers that two dark-skinned

males, dressed in dark clothing,
both armed with handguns, burst
into the store and demanded cash.

The liquor store and several
patrons, who were in the store at
the time, were robbed of an unde-
termined amount of cash.

The gunmen fled the scene trav-
elling east on Sapodilla Boulevard
in a white hatchback style Suzuki,

license plate number 85679. Hours
later, around 6.14 pm yesterday
police received information of an
armed robbery at the Oakes Field
Shopping Centre.

Gunpoint

Two employees of an undis-
closed business told police they

were about to make a company
night deposit at a bank in the shop-
ping centre when they were robbed
at gunpoint by two dark-skinned
men.

The men, dressed in dark cloth-
ing and wearing ski masks, were
armed with handguns.

The suspects managed to escape
with a company deposit bag con-

taining an undetermined amount
of cash.

The employees reported that the
gunmen fled the area in an old
model gold coloured Nissan Alti-
ma.

Last night police urged anyone
with information about these rob-
beries to come forward.

Police investigations continue.

BANK OF THE BARASTIAS LIMITED
® Bank of The Bahamas .

[IN TERNATIONAL

UNALINT ED COASOWATED STATEMENT OF CHANGES IN EQUI

Forthe tua, months oie Sapemhor 6,
with oon paratines Por che three mae period oneke dd Sopaconber 21, 3008
ibs pened @ Heber ditions

FINANCIAL PERFORMANCE FOR THE THREE-MOSTH PERIOD
ENDED SEPTEMBER 30, 2009



Shore Shore Tress Brtalaed

For the first quarter atthe new financial year the Bank achaeeed Net Income: of BS. millicn or





: Capital Preetians Shares Besnres Ea rabage Tod

$0.24 wenis per common share. Compared to the same period last year, these results represent

sound growgh of 20%, Toll Asses seuiled ar AST44 milli clightly bebo thee mark of AETSH Bualanoe at kaly | 060 5 eo TST . i MMO $ IS

maillion as at Jume 30, 2M4. Poor Einar aaannee LEB ZAI

Dividends on preference shares - - . {281 jo) a

During the review quarter the Bank changed the policy on general provisioning. This is reflected Vigbance an Se paornibas 30, 208s SW ST, Ey BT

m the recognition ot an allocation of Hetlained Earunge in the form of a General Reserve which

represents local regulatory guidelines in sapport of potential credit risk im the long berm. Bulonce at duly |_ on 5 HUTA TASTE B LDdd) & ae 5 ES Es |
. “ Hor Erato: tee at

- se : on . . ee 1 _ as, ot . . ‘graprouion af neta red ¢ arenes Lee

Equally significant is the Bank's conservative approach to short term ordi risk and the Mat galas on remouuurement ci

Chisequcital pecogruhon of new specitic peowsices for hia keaece im the amos of Wet veils eiorande wourtics io fair vole . . 543) : tat1

million. We are cautiously confident thal this tramsaction wall exiricabe the significant credit Balance ot Sept 4 KR) 5 SO © ISNT fC) ee fT SLT NI

wealoness in the Bank's loan poettelio for the corency of this fiseal period

Ay ie hight the Flank oordin@es to perform well we are copniznn af the bros ecomomic brelicacors
which suppest that the Bahamian economy remains weak. Declines in premier sectors across ihe
business lamckeape have caumed high kevela of unemployment which exert direct influence om
commerce Gopansion. Consegueniiy., loam delingwencies remain evsternically leech axl
negatively impacts revenue groeth and husiness oppeepunities.

BANK OF THE BAHAMAS LIMITED

UNAUDITED COSSOLIDATED STATEMEST OF CASH FLOWS

(Expressed in Bahamian dollars)



In light of constraints impesed by the current environment the Bank has moved to continue bo
Sirenathen as hokeee sheet pesulong in an iscreased rk adjusted capilal fal a¢ of Sepiember





40, 2008 of 24% well abowe the mew guideline of 14% to 17% recently introduced by The September 1, September OF,

Cann! Rack Further, the Bank's Liquidity ratio stands al 20% providkeag scund financial Sie pal J

resilience to combat the general eoonomk weakness. Such financial fortification enables ihe ae a . | eee feerveeee

Hank ky continue is ellorts ta eek viable horehing ard) mvesiment oppertunities and péenan CASH FLOWS FROM OPERATING ACTIVITES ; ; _

supportive of providing solutions to cudomers faced with financial challenges at this time. eek arora * 4d 495 # A221
Aad |uatieenis for:

The Bank continues to explore opportunities for future value creation and is therefore pleased to Pbciceraly Tiers (BE BOE L141 anz

Prepon the cuiccesstiel completeon af ihe tratster in-hoise of its credit card plationn Liver ome 2,7 SES +

this change i expected to significantly imprwe operating efficiency. This mitiative is a major Change in operating ssc and abilities OL A2T (2,422, 92T)

strategie milestone, which will allow che Bank to offer a mew range of innovative products cme
Serviggs,

Increase in loans ond athamoss 1 CLSMe rs, et
(Deertasc increase in deposits [rota custetiers id banks

Net cash (peed in prov kded by operating actieRive

(13,145,025)
(21275, 910)
(30444, 7871

(13,020,301)
73, 264,2Ht
. 2h 3,497
We enilinue Lo recognize (se ellectivencs of cur omploveds and mamagenenl Ue foresaght of
our Directors as they in comtinue oo guide us, amd the undiminished suppom of cur ever

- i in chee (CASH FLAWS FROM INVESTING ACTIVITIES:
cxpanding: cushanecrs, mdivadual aed institutional mca,

Aquisilion of property and cqpapineed 5 (S57 328) §

(PHO ath
(1,507 Cp

Porches: af investment spcrties

(337 328]



Net cash used in investing activities



CASH FLOWS FROM FINANCING ACTIVITIES:

Payal J. 1, Phe Weenie Dividends om prelereace shares 5 : Ss (281 250}
Managing Director Incresa: in enbenes! poryable on bonis Ol 1 30 -
Met cash provided beyijused in} financing activities ee) 10 (OBL 2Saip
BANK OF THE BAHAMAS LIMITED Net (decrease increase in cash and cash equivalents 14, bed, De
(Cash and cash oquivalents, beoeening of year 1a? Re
UNAUDITED CONSOLIDATED BALASCE SHEET Cash and cavk equivalents, cod ef period 5 a6 290 44



BASE OF THE BAHAMAS LIMITED
Sciocied Explanatory Notes to the Unaudited Conamidated Financial Statemcnts

(Expressed in Bakainian dol hers)



September 3, June 3b,
Dit 2iKNF For the perked ended September 30, 20s
(Expressed in Bakernian Dollars}
ASSETS Ll. General Information
Cash and asco wah The Centre! Rank T1BI LAR TU abs 1ST
Dese from banks 68,144.54 [IM 6 12, Sates

Bank of the Bahamas Lineted (ihe “Bank }, trading as Bamk of The Baharias
Incrmmional is incerporsted urder the laws of The Commenwealth af The
Bohomes, The Bank is licensed under the provisions of the Bank ancl Trust
Companies Regulations Act 2000), The Bamk is ako licersed os an authorized

Inwcstimbent securities
Loans and advances (0 cusiomers, net
[AEST prcperty

51), 704,054
STO0SH a 56
3,870,182

S679, 784
S556) 2 1k
3 RTH ALS?

Che : 0,163,931 5 Aa : ; : a :
—— i es i. iT dealer pursuant to the Exchange Control Regulations Act. The Bank is bolder of
open PTH, | Bf : c : os ae pe .

Prope Ty ae equIpmeTit 4, il ' - ‘ “lk a broker dealer license from the Secunties Commission.

Intangible sesets, met 4,266,573 a,37K 289

MOTAL 145TH TES TSH PP9, TFT

‘The Hank’s shares are publicly traded and listed on The Bahames Intemational
Secuntis Exchange. Uhe Gowemment of The Commonevalth of The Bahamas
andl The National lnsunmce Board aan S01 of the eed shares, The Perna Legs
shares arc owned by approximately 4000) Bahansian sharchedders. The Banks

LIABILITIES

Deposits from cescamer: and banks 566,815,268 SRE MIRO | Fe





Other borowed funds 37 (HHH 27 (HL head offies is located at Claughton House, Shirley aml Charkoite Siresis. The
Cheques and other items in traersit 0713, 116 7.661700 registered office is located at Sassoon House Shirley Street, Victoria Averue,
Qeher lidhilities 860,202 7,563,086 Nassau, The Bahamas,
Deferred loan fees 3,070,736 4,011,254
Total liabilities eas ae 2, ‘Signiffcant Accounting Palicies
en The Hitcant ac Ing policie d heds of ¢ ubkn followed im the
Share capital uyireee meres endeeration of news inueriny consolidated financial ‘anna ae ia Sia a
Share premium 28,587, B bf 2B, SET, Bo thease folleeed in the Php eral af the anna cemaslichted finanen| statements
Treasury shares (30,244) (S244) ot the Bank for the Wiener aided Jume 30, MM with the eption of those noted
Reserves 44M6,965 22,654 below. The annual consolidated financial statements are prepared in aceordanece
Retained camings 35,021,741 33,255, b8 with Internation! Financial Reperting Standards ("IFRS") and under the
Total eajuity 117642318 DABS 2 bt historical cost comvention, as modified by the revaluation of certain financial
TOTAL 745 TRO TES TSR 2OU, [TE assets and liabilities and investment property that are required do be remewsured ai
estimated fair value.
BANK OF THE BAHAMAS LIMITED
M48] Presentation of Finance! Statements
US ALINE CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME The revised stmdanl separates camer and non-owner changes in equity. The
Slater of changes int equity ne linches milly detasle ot Draations wrth (AATHETS,
For the three months ended September 30, 2009 with nom- wath comgeratives forthe thece asonth pericad ended September 30, 2008 companent of equity. In addition, the standard tnteduces the statement of
(Expreseed an Hahonian dollars) comprehensive income: it presents all items ef recopnized income and expense, in
He Me one singke statement,
Toul interest Income INIT 275 13,045,307 fener! Credit teserve
Tonal Interest Expense S08 1301 6 LOG 01 Prev iois |; the Bamk reaorded all credit reserves as a valuation allowance agninest
Met Inerest! Revenue &,793, 762 TS59,195 loins and advances to customers. During the first quarter the Bank established a
general credit reserve os an appropriation i retained eamings. Im circumstances
Feea eal exrrrira aac Pacer: o1 1,354 1tes 444 where the Central Bank guidelines and regulatory rules require provisions in
Fees and commission experse L33.008 24,952 excess of those calculated under IFRS, the difference is accounted for as an
Met fees amd commission imo ‘TSH Aah 100381 apprapmation of retamed camings amd is included in a mon-desiributeble credit
reser In retained earnings.
Onher Opera ling income ank, 172 L4sT 21h ~
Total operating income SAMLS20 10,036,790 i. Provision for Loan Losses
Credit loss expense, met 1281485 (396595) . ;
2M SNES
Met operating Income FT eS 42S At beginning of year O72 85 8,220, 745
Amount written-off (3th, 1825 C104 eS)
Operating Cap es 6 hh 220 670 244 Recoveries 5 Fad .
Pet Lancome Aft 3095 DAML Provision charged to expense 2655,753 500,585
Policy change reflecied in income statement Sl) S47 -
‘Other eomprehcasive income Provision at the end of period TER LOTR 5712645
Met gain on available-for-sale financial assets 24271
Tol comprehensive income for the period int aca LARA 4, Cash and Cash Equis alents
EARSISOS PER SHARE CALCULATION: 2009 SIME
BET DMOCEME £ ions gua & 2430921

PREFERENCE SHARE DPV IDEMD
SET IMOOME AW ALLABLE To

COMMON SUAREVOLDERS S
WELGHTED AVERAGE NUMBER OF

4) 1S
—— Cash & 6.604375 & 6,756,122

ha 144054 125 461,213
T4748 429 132,207,995

(hee from Bonks

Liis193 § :
Cosh and due from Bonks

L540,471

COMMON SHARES 14406 145 (S506, 045 Account Gi0h The Central Rak of The Aabeenas 25 207 314 54073 554)
FARNIMGS PER SHARE 5 a4 & 16 $99,954,742 S 186.291.4904



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&

THE TRIBUNE



LOCAL NEWS

&

WEDNESDAY, DECEMBER 30, 2009, PAGE 7



South Eleuthera’s Farmers
Market a huge success

TARPUM BAY,
ELEUTHERA - Saturday,
December 12 marked the
first ever Farmers Market in
South Eleuthera and all
involved agreed that the
event was a huge success.

The market was held at
the Emergency Operations
Centre of SEEP (South
Eleuthera Emergency Part-
ners) from 10am to 1pm and
more than 150 people
strolled through to shop dur-
ing the beautiful sunny day.

The goal of the market
was to showcase farm-grown
products and locally hand-
made crafts available in
Eleuthera. Known once as
the breadbasket of the
Bahamas, Eleuthera is pro-
ducing less and less produce
and relying more on
imports, which threatens
food security on the island.

The Island School part-
nered with two non-profit
organisations, the Cape
Eleuthera Institute and
Island Journeys/SEEP, to
change this trend.

“We are really thrilled
with the success of this first
market,” said Shaun Ingra-
ham, director of SEEP and
Island Journeys. “People are
already asking if we can
have one next week so there
is an obvious need and
opportunity here.”

The market celebrates the
production of “Made in
Eleuthera” food and crafts
and encourages the growth
of local sustainable agricul-
ture.

The individuals and busi-
nesses that participated
included: Bishop Dan
Nixon, Lucille’s Bakery,
Coco Plums, Rosey’s Cre-
ations, Gracefully Creations,
Nature Boys Nursery
Charles Strachan Straw
World, DJ’s Bottled Toma-







CHARLIE STRACHAN’S straw work.



toes, Debra Moxey’s
Ceramics, Philip McPhee
and Collective of Farmers
of Tarpum Bay.
Fundraising and aware-
ness activities included t-
shirts sold by SEEP and the
Cape Eleuthera Institute
(CED); and CFLs, fish poop
fertiliser and flyers about
conservation and saving
money at home, distributed
by The Island School.
“This farmer’s market is
a great opportunity for us to

SEE page 12

Photos by Andrea Whittle

LOCALLY grown pumpkins, ae
produce and bottles of sour. wey

ORNAMENTS on sale.

bahamas Cream of Asparagus Soup
Cr
Caesar Salad

Lobster Thermidar
Or

12 ox T-Bone steak

ed ween

Grilled Vegetable Medley
Herb Roasted Potatoes



Red Velvet Cake

Live Band & DJ
Great View of the Frrewarks
Champagne Toast at New Year's

$55.00 in advance
$75.00 at the Door

Tickets on Sale now!

Green Parrot East Bay St.
322-9248



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THE TRIBUNE



ba
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eat)
wn
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233
5
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PAGE 8

or

e
ie
WEDNESDAY, DECEMBER 30,

WA



ts

2009



LYNDRICK Storr evades the Cherubims defence with a mid-air pass in the Pacers 53-34 win yesterday
at the Providence Holiday Classic.



USA Select
tops Cobras

AS THE Providence Holi-
day Classic winds down and
moves into its final day, teams
made late surges toward
tonight’s title run.

The Pool Championships
will get started today at 9am
with the consolation third
place game at 7pm, followed
by the championship game at
8:30 pm.

USA SELECT - 62
CC SWEETING COBRAS - 48

e Featuring a duo of
Bahamian players in the
frontcourt and another with
Bahamian roots orchestrating
the action at the point, the
Houston, Texas-based squad
continued to plough their way
through the competition.

Danrad Knowles finished
with six points, nine rebounds
and four blocks, Eleuthera
native Alex Cooper added 10
points, seven rebounds and
two blocks and sensational
point guard added 16 points
and five assists to lead the
Select team.

Henry Riosco scored the
game’s opening basket for the
Select team, but the Cobras
responded with a 14-1 run to
take a commanding lead
before the Selected Squad
closed the quarter with a pair
of late field goals.

The Cobras’ lead grew to
as much as 14 in the second
quarter when Angelo Lock-

Pacers beat Teleos 53-34,
tourney moves into final day

hart dished an assist to Gabi
Laurent in traffic to give his
team a 20-8 lead with 2:43 left
to play in the half.

Riosco who finished with a
team high 17 points, fore-
shadowed what was to come
in the second half when he
scored the final six points of
the half to make the score 24-
16.

In the third, Rose, the son
of Bahamian basketball leg-
end Lynden Rose, and top
ranked point guard for the
recruiting class of 2012, assert-
ed himself on the offensive
end.

He opened the quarter with
a three, and his second shot
from long distance tied the
game at 24.

Andre Prince’s fast break
lay-up gave the US team their
first lead of the game.

Prince followed with a
three on the ensuing posses-
sion and Rose capped the run
with a highlight reel assist to
Knowles which thread the
needle between the legs of
two defenders.

Cooper scored the US
team’s sixth three pointer of
the quarter to give his team a
39-27 advantage.

With Lockhart penetrating
at will and Laurent, who fin-
ished with a game high 18
points dominating in the
paint.

The US team outscored the
Cobras 25-13 in the quarter
to take a 41-37 lead into the
final period.

Patrick Davis scored two of
his 10 points to open the quar-
ter and pull the Cobras with-
in two, but Riosco respond-
ed with a three pointer and
sparked another run.

Prince gave the Select team
a 52-42 lead on a breakaway
lay-up with 3:14 left to play.

Rose thrilled the crowd
over the game’s final few min-
utes, routinely dribbling
between full court traps and
making a trio of three point-
ers late in the game to pull
away for the final score.

RM BAILEY PACERS - 53
TELEOS - 34

Leading by just one at the
half, the Pacers dominated
the final two quarters to pull
away late for the lopsided
win.

SEE page 10

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TRIBUNE SPORTS



SPORTS

WEDNESDAY, DECEMBER 30, 2009, PAGE 9





ee

ss ° nore

Knowles is Tribune Sports’

MARK Knowles surges to the top of the chart as The Tribune’s Male Athlete of the Year.

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

A WIMBLEDON mixed
doubles title and appearances
in the final of the both the
men’s singles at the Aus-
tralian Open and the US
Open enabled Mark Knowles
to surge to the top of the chart
as The Tribune’s Male Ath-
lete of the Year.

Ina year that saw two track
and field athletes fall shy of
winning a medal at the 12th
TAAF World Championships
in Athletics and two profes-
sional boxers missed out on
their opportunities to win
major international titles,
Knowles was steady and con-
sistent in his performance on
the ATP tennis tour.

The highlight of the year
for Knowles came in July
when he and German Anna-
Lena Groenefeld teamed up
to win their first Wimbledon
mixed doubles title.

Knowles, 38, has now inked
his name on all four Grand
Slam titles, although he and
his men’s doubles partner
Mahesh Bhupathi from India
missed the opportunity to
cash in on another crown at
the Australian Open in Janu-
ary and the US Open in Sep-
tember.

In April, Knowles and Bhu-
pathi also reached the final in
Barcelona, but they were
unable to pull through. Their
only victory came at the
Rogers Cup in Montreal,
Canada.

As a result of failing to win
the big ones, Knowles and
Bhupathi have severed ties
after playing together for the
past two years. Knowles will
now team up with American
Mardy Fish, whom he part-
nered with to win a title in
Memphis.

ii. Fresh from winning the
Olympic Games’ bronze
medal a year ago, Leevan
‘Superman’ Sands came with-
in .4 inches of returning to the
podium at the 12th IAAF
World Championships in
Athletics in Berlin, Germany
in August.

Last year’s Male Athlete of
the Year slipped to number
two when he got dropped
from the bronze medal spot
by Cuban Alexis Copello in
the sixth and final round of
the final.

Sands, who celebrated his
28th birthday on the day he
qualified for the final,
bounced back at the
IAAF/VTB Bank World Ath-
letics Final in Thessaloniki,
Greece in September with a

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silver medal.

Sands eventually finished
the year with the tenth best
mark on the [AAF chart.

ii. Chris ‘Fireman’ Brown
painfully remembered how
American David Neville
dived across the finish line to
deny him a chance to cele-
brate with an Olympic bronze
medal last year.

At the World’s, Brown was
in an unique position to
redeem himself, only to once
again be shut out when he
ended up in fifth place in the
men’s 400 final.

Brown, 31, had to settle for
third place on this year’s Tri-
bune voting list, although he
too stormed back at the
World Athletics Final for a
silver medal.

The national record hold-
er and national champion had
the tenth best time all season
of 44.81 seconds.

iv. Ramon Miller closed out
his two-year sting at Dickin-
son State by repeating as the
NAJA Indoor 200/400 cham-
pion as well as the outdoor
champion to secure the fourth
spot.

Miller, 22, came home and
took Brown to the line in
placing second at the
BAAA’s Nationals before he
went to the World’s and was
just shy of reaching the final
of the 400 when he posted a
personal best of 44.99.

That time put Miller 16th
on the IAAF’s list, even
though he trailed newcomer
Latoy Williams (NJCAA
indoor bronze medallist and
outdoor champion), Brown
and Andrae Williams. Both
of the Williams from Grand
Bahama got injured and was
never able to show their true
colours.

v. Under new management,
Meacher ‘Pain’ Major round-
ed out the top five Tribune’s
list with the three fights he
had at the Convention Center
in Buffalo, New York.

The 28-year-old lightweight
opened up with a sixth round
technical knockout over
American Kevin Carmody on
February 20. Four months lat-
er, he returned to the Big
Apple where he and Ameri-
can Michael Clark ended up
with a “no contest” result.

Apparently, Clark was
unable to finish the bout for
the vacant NABA lightweight
title two minutes and 14 sec-
onds into the first round due
to an accidental foul.

But after a protest lodged
by his management team,
Major was awarded the title
and he was elevated to num-
ber 15 in the WBA ranking.



Then in November, Major
defended the title against
American Dorin Spivey, only
to be TKOed 52 seconds into
the fourth round.

Honourable mention goes
to NBA Developmental
League players Bennet Davis
and Mitchell Johnson; golfers
Lemon Gorospe and Keno
Turnquest; bodybuilders Joel
Stubbs and James ‘Jay’ Dar-
ling; Latoy Williams and
Andrae Williams; hurdler
Shamar Sands; boxers Jer-
maine “Choo Choo’ Mackey
and Sherman ‘the Tank’
Williams; Davis Cupper
Devin Mullings; swimmer
Vereance ‘Elvis’ Burrows;
softball pitcher Edney ‘the
Heat’ Bethel and volleyball
player Renaldo Knowles.

i ES SIL EEN ILM)
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PAGE 10, WEDNESDAY, DECEMBER 30, 2009

_

SPORTS

(ln

TRIBUNE SPORTS



Sportsability Bahamas
Set to become new
annual sports festival

By AVA TURNQUEST
aturnquest@tribunemedia.net

THE ACTIVE leisure com-
munity can look forward to a
new annual sports festival
promising to unite and sensi-
tise Bahamians towards the
disabled community.

Sportsability Bahamas will
be a joint venture between
Adventures Unlimited
Bahamas and the Florida Dis-
abled Outdoors Association.

The team officially present-
ed their intent to Minister of
State for Youth and Culture
Charles Maynard yesterday
and have been guaranteed
government support in their
endeavours.

President of Adventures
Unlimited Bahamas Jerome
Thompson was the first blind
Bahamian to sail around New
Providence. Mr Thompson
noted that it was this experi-
ence and those of its kind that
formed the ‘bedrock’ for his
organisation.

The event will feature
indoor and outdoor activities
such as art experience and
dancing, basketball, martial
arts and laser tag shooting,
combined with a resource
expo with information booths



PRESIDENT of Florida Outdoors Association David Jones (right)
and President of Advetures Unlimited Bahamas Jerome Thompson
meets with the press and the Minister of Youth Sports and Culture
yesterday to address some upcoming events.

on the latest products, active
leisure programmes and dis-
ability services.

Sportsability is a multi-day
event locale to Florida that is
tailored towards accessible
inclusive recreation and active
leisure for all persons. This will
be the first time the event will
be held internationally.

FDOA President David
Jones maintained: “People
with disabilities are just that-
people. They have the same
needs and desires. We are
extremely honoured to be a

Legal Notice

NOTICE
BAYANDA VISTANA INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
SILVERSTREAK HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PEARINGLY

INVESTMENTS PTE. LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

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

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part of this wonderful oppor- }
tunity. ” :
The festival is set for Sep- :
tember 2011 and will afford }
both the disabled and abled
community access to thera- :
peutic recreational pro- }
grammes. :
“We want to chop down }
some hills in the psyche of ; |
Bahamians,” added Mr }
Thompson. “I want to see us }
become more sensitive. This }
will not be a one time thing.”
The event welcomes both }

private and public sponsorship. : ANDREW Forbes loses the ball among a crowd of defenders

Legal Notice

NOTICE
TRAMPLWORTH

INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
YARMOUTH INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PLUTUS ENTERPRISES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)



USA Select
tons Cobras

FROM page eight

The Pacers led 22-21 at the
half but outscored the Cheru-
bims 31-13 in the second half
to advance.

RM Bailey opened the third
on an 8-2 run with an efficient
6-6 performance from the line
led by Stephen Strachan Jr.

After he sat half of the first
quarter and the entire second,
Strachan forced the issue in
the third and scored both at
the line and beyond the arch.

Strachan’s baseline three
pointer with just over a minute
left to play in the quarter gave
the Pacers a 38-30 lead headed
into the fourth and gave him
11 points in the quarter.

The Pacers took their first
lead of double figures on a
putback by Dshon Taylor for a
40-30 advantage.

With a defense that held the
Cherubims to just one field
goal in the quarter, the Pacers
forced a series of turnovers
which translated to easy bas-
kets and a balanced scoring
attack.

Strachan finished with a
game high 13, Andrew Forbes
added 11 and Taylor added 10.
Renaldo Smith led the Cheru-
bim’s with 10 and Spencer
Lewis added nine.

USC

For the stories behind
the news, read Insight
on Mondays



Legal Notice

NOTICE
YINLEYTON INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
TAMBERTON INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
JINZHOU VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)




&

THE TRIBUNE

WEDNESDAY, DECEMBER 30, 2009, PAGE 11



LOCAL NEWS





Tiger Wootls

FROM page one 2

wrote, adding that millions
of shareholders were affect- ;
ed. :

released with the study.

Woods, believed to be the }
world's wealthiest athlete }
who was estimated to earn }
about $100 million a year in }
endorsements before his }
confessed on }
December 11 to "infidelity" :
to his Swedish wife Elin
Nordegren. He announced }
he would take an indefinite }
break from golf to try tosave }

troubles,

his marriage.

Some of the star golfer's :
main commercial sponsors }
have backed away from him }
as a result of the scandal. }
Others, while standing by }
him, have said they are eval- }
uating their future relation- i

ship.

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.



fr! '

"Our analysis makes clear :
that while having a celebrity :
of Tiger Woods’ stature as :
an endorser has undeniable :
upside, the downside risk is :
substantial, too," Stango, a }
professor at the UC Davis :
Graduate School of Man- }
agement, said in a statement :

er 4%
wa At 15,

hea
ober Wet oma eS
3 hn ‘
L 5

MP Malcolm Adderley ‘is

FROM page one

quish his seat in favour of an appoint-
ment on the Bench.

However, as sources within the
FNM have pointed out, such a move
would not be politically empowering
for the party as it would still have to go
out and win the Elizabeth seat the MP
would have had to relinquish.

Therefore, the source said, it makes
profound sense for the MP to use the
political currency he has to barter for
whatever post the government can
make available to him in return for
his seat.

“The PLP is actively campaigning
an individual in Elizabeth so they can
hardly expect the man to believe that
they want to talk,” the source said.

“Leaving to go to the judiciary





















he '
ee |.

al

=

LIES 5 |

makes absolutely no sense
because the country is not
able to handle a by-election
at this time. And if he wants
to send a strong message to
some on his own side, what
better place to make it from
but the other side?” he
laughed.

Currently there is a com-
mittee that has been formed
by the PLP’s National Gen-
eral Council (NGC) to meet
and speak with Mr Adder-
ley to ascertain whether the
MP intends to leave the
party for the FNM.

MALCOLM ADDERLEY



Business Obie Wilchcombe
and former Senator Sean
McWeeney.

However, after numerous
attempts by committee
members to meet with the
MP, it is claimed that Mr
Davis has now had to for-
mally write to Mr Adder-
ley who up to this time was
“hard” to catch up with.

While this came as news
to some within Mr Adder-
ley’s camp, a source close
to the MP said he was quite
surprised that their efforts
had failed as the MP was

This committee, which is chaired by
PLP Deputy Leader Philip ‘Brave’
Davis, includes other party names such
as the PLP’s Leader of Opposition

quite “easy to access.”

As it is well known within in the
PLP, Mr Adderley has been very vocal
about the “mistreatment” he claimed

NU INE A

rs

ie

Pl

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contemplating joining FNM’

he endured under party leader Perry
Christie.

At the time, it was reported that
Mr Adderley had been promised the
post of Attorney General prior to the
PLP’s 2002 election. However, upon
gaining the government, Mr Adderley
was reportedly called into the then
PM’s office and offered the post of
Speaker of the House of Assembly.

After an exchange of “heated”
words, it is alleged that Mr Adderley
was then offered the post of Chair-
man of the Water and Sewerage
Board — a position he also turned
down.

Following the PLP’s loss at the polls
in 2007, Mr Adderley took up the post
of Chairman of the Gaming Board
under the FNM government, a posi-
tion he continues to hold.

Prison officer
accidentally
Shot on duty

FROM page one

ing the officer in question is in
stable condition at the
Princess Margaret Hospital
and that the injury is not con-
sidered to be life threatening.
The police said the matter
“appears to be an accident
which occurred during a rou-
tine shift change” but added
that investigations continue.

POLICE LEAVE the prison
yesterday.

Felipé Major/
Tribune staff



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(W) ©
LY

PAGE 12, WEDNESDAY, DECEMBER 30, 2009



LOCAL NEWS



South Eleuthera’s
Farmers Market
a huge success

FROM page seven

share more about our conservation goals and to encourage
people to eat and buy more locally,” said Karla Cosgriff of
CEI. “We hope the market expands to include more vendors

tainable food production in Eleuthera.” > ae. BS

and can be used to educate people on the possibilities of sus-

Currently the event is scheduled for the last Saturday of SHOPPERS at the market
each month with the goal of more markets during peak
agricultural seasons.

The Island School is a three-month semester leadership
programme for high school students. Participants come
from all over the world to learn about the tropical marine
environment and Bahamian culture.

The Cape Eleuthera Institute is a tropical ecology research
facility which hosts educational programmes and finds solu-
tions for resource management issues.

Island Journeys/South Eleuthera Emergency Partners
(SEEP) is a citizen led group committed to providing emer-
gency services to the citizens of South Eleuthera.

PS VART

‘Exercise safety and courtesy everyday"

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



BISHOP NIXON and corn truck

Police confirm body























is that of missing man

FROM page one

been no word from him
the following day police
were informed and an
online campaign was
launched on social net-
working site Facebook to
help find him.

Nearly 1,000 people
pledged their support to
the cause, and rumours of
his death spread when the
body was discovered in
Sands Road.

But Mr Farrington’s
family did not lose hope
until police from the Cen-
tral Detective Unit con-
firmed the remains were
his on December 23.

Ms Ferguson said: “We
still really can’t believe it,
it is hard right now to
understand exactly how
this could happen

“We don’t know what
happened, we really don’t
and the police are still
investigating.

“It’s still a shock. Every
time I talk about it I just
break down.

“He was just so special.
He was family orientated,
he loved his friends, and
everybody just loved Fran-
cis.”

The youngest of
Rudolph and Rosalie Far-
rington’s six children
excelled in academics and
sports throughout his aca-
demic life and he moved
easily from CW Sawyer
Primary School, to AF
Adderley Junior High
School, and then the exclu-
sive St Andrew’s School
where the outstanding stu-
dent was awarded a full
scholarship and graduated
as deputy head boy and
Valedictorian in 1999,

Among the numerous
awards he received, Mr
Farrington became the
first Bahamian to win a full
scholarship at a Canadian
university.

He graduated from St
Thomas University in
Fredericton, New
Brunswick, Canada, with a
BA in Economics in 2003
and went on to earna
Masters degree in Business
Economics at the Wilfred
Laurier University in
Ontario, Canada, before
accepting a job as a trans-
fer pricing associate for
Pricewaterhouse Coopers
in Calgary.

The proud Bahamian
who had represented his
country in basketball dur-
ing his youth returned to
Nassau in 2005 to work as
an economist with the
Securities Commission and
then accepted a position at
Transfer Solutions
Providers Limited before
resigning in April to return
to Canada and study for

the Certified Financial
Analyst (CFA) exams.

It was during a short vis-
it with his family in Nas-
sau that he disappeared.

Ms Ferguson said:
“Francis was being sought
to fill job vacancies both
locally and in Canada right
up to the time when he
was discovered missing.
Words alone cannot
explain how much we love
and miss this special son,
brother, friend and human
being.”

All who knew Mr Far-
rington describe him as a
warm and loving, ambi-
tious and hardworking
individual who could not
help but succeed in all
areas of life.

They have flooded the
Facebook website created
to help find him with writ-
ten messages and pho-
tographs in tribute to their
friend since they learned
of his incomprehensible
death.

Tania Blanchette wrote:
“That smile, that laugh,
that face; I can't believe
that this world could take
away someone as beauti-
ful and wonderful as him, I
just can't.

“This is grater than a
tragedy, it's truly paralyz-
ing to think that I will nev-
er see or hear from him
again.”

Indira Beryl Martin
wrote: “Francis, beloved
brother and friend to me
and so many others: you
will always live on in my
memories and carry my
eternal admiration. I will
never forget your giant
laugh or your giant heart
that had space for so many
people. Live on brother as
I know you have not
departed, only transcend-
ed. Love and miss you.”

St Thomas University
(STU) student Tara
Maclsaac said: “I just want
to let his friends and fami-
ly know that my thoughts
and prayers are with you
all. Francis was an amaz-
ing person and I will
always remember his
smile.

“Tt has shocked those of
us who knew him from
STU to no end and we
hope in the future we will
have answers to this
tragedy.”

A funeral service will be
held at St John’s Native
Baptist Cathedral in Meet-
ing Street, Nassau, at 10am
on Tuesday, January 5.

Tributes to him can be
sent to the family for inclu-
sion in a memorial booklet
if submitted by noon
today. Please email your
memories to iriegyrl@hot-
mail.com or kevinj_Far-
rington@hotmail.com.


THE TRIBUNE



aU ETE Tit
HT
EL ETT tS
key to 2010
performance

* Arawak Homes
chairman says ‘two
material overhangs’
for Bahamas are fate
of $2.6bn Baha Mar
project and
government reining
in public spending

* Expects 2010 to be
better year for
housing developer,
although public policy
response to Cable
Beach work permits
critical

* S&P downgrade
raises ‘legitimate
questions’ about
internal Bahamas
focus





FRANKLYN WILSON

By NEIL HARTNELL
Tribune Business Editor

While Arawak Homes
expects to construct more
properties and enjoy a more
prosperous 2010 compared to
this year, the developer’s
chairman yesterday said there
were two “material over-
hangs” that could impact the
Bahamian economy’s near-
term performance - the fate
of the $2.6 billion Baha Mar
project and the need to rein in
Government spending.

Franklyn Wilson told Tri-
bune Business that Standard
& Poor’s (S&P) pre-Christ-
mas decision to downgrade
the Bahamas’ long-term sov-
ereign credit rating had raised
“legitimate questions” about
how well this country was
“managing its own affairs”,
suggesting that an internal
focus would be key to this
economy’s performance in
2010.

Emphasising that he was
“praying for better fiscal man-
agement”, Mr Wilson said
that regardless of the exter-
nal forces impacting the

SEE page 5B

Si

WEDNESDAY,



DECEMBER 30,

CSS

2009

SECTION B e business @tribunemedia.net



ROYAL 3 FIDELITY

Money at Work

RBC/ Fidelity Joint Venture Company

NASSAU
(242) 356-9801

FREEPORT
(242) 351-3010

MARSH HARBOUR
(242) 367-3135

royalfidelity.com



Bank considers New PLP Senator:
Year preference issue

* Bank of the Bahamas International sees profits up 29% in 2011
Q1, with capital base increasing by $15m on average over last

eight years

* Eves credit card platform for export, and expects to
commence talks with one credit card firm in 2010 first quarter
* ‘Fairly confident’ not have to take any further provisions
beyond initial $2.655m
* Expects headquarters construction to start in 2010

By NEIL HARTNELL
Tribune Business Editor

Bank of the Bahamas Inter-
national’s managing director
yesterday indicated the insti-
tution might launch a new
preference share issue in the
New Year to further fortify
its capital base, having
increased shareholder equity
by an average $15 million per
year over the last eight years.

Speaking after the BISX-
listed institution had experi-
enced a 29 per cent increase
in the fiscal 2011 first quar-
ter’s net income to $3.665 mil-
lion, compared to $2.83 mil-
lion the year before, Paul

McWeeney said Bank of the
Bahamas International was
assessing various strategies for
financing future growth/lend-
ing opportunities.

“We’re looking at various
options,” he told Tribune
Business yesterday. “We’d
like to reshape the funding
side of the balance sheet as
best we can. Preference shares
are not the best route to go,
but are the most attractive in
the current economic climate.

“T suspect there could be a
new offering in the New Year,
but preference shares are not
the ideal route for the bank to
go because it’s very expen-
sive. But right now, it’s the

Costs to rise $3.5-Sm from
Abaco plant's ‘fuel switch’

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia. net

Opponents of the Bahamas
Electricity Corporation’s
(BEC) $105 million Abaco
power plant are arguing that
the project’s Environmental
Impact Assessment (EIA), by
Florida-based KES Environ-
mental Services, contains
numerous inaccuracies and
inconsistencies.

President of Responsible
Development for Abaco
(RDA), Clint Kemp, said the
EIA, which is available on the
Bahamas Environment, Sci-
ence and Technology (BEST)
Commission, asserts that the
power plant construction site
was two miles from coastal
areas.

However, aerial pho-
tographs of the site and a fly
over conducted by RDA, on
which it was accompanied by
‘Tribune Business, showed the
coast to be only a few thou-
sand feet from the site of the
development.

“Tn addition, no impacts are
anticipated as a consequence
of the operations of the main
power plant facility based

Broker's $25m collapse
‘struck’ from indictment

By NEIL HARTNELL
Tribune Business Editor

An investor accused of
defrauding two Bahamian
brokerage houses out of a col-
lective $29 million has won a
partial victory in the US
courts, after a judge agreed
to strike out a part of the
indictment alleging that his
activities caused one of those
firms to collapse into liquida-
tion.

Justice Robert Kelly, sitting
in the US district court for
eastern Pennsylvania, ruled
that the US governments alle-
gations that George Geor-
giou’s activities caused the $25
million collapse of Caledonia
Corporate Management, the
Bahamian brokerage firm, be
“stricken” because they were
potentially prejudicial to the
Canadian investor’s defence.

The words ordered
removed from the indictment
stated that “because Caledo-
nia was unable to cover those
massive losses, the firm could

Investor accused of
defrauding two
Bahamian brokerages
of $29m, and causing
Caledonia slide into
insolvency, wins partial
pre-trial victory

no longer operate and was liq-
uidated”.

The judge made this order
in relation to various motions
filed by Georgiou in a bid to
dismiss the February 12, 2009,
case brought against him by
the US government and Fed-
eral Bureau of Investigation
(FBI), who had accused the
Canadian of “leading an inter-
national securities fraud con-
spiracy involving the manipu-
lation of the stocks of four
publicly traded companies

SEE page 6B

upon its distance (two miles)
from the coast,” the EIA said
under the general heading
“environmental acceptability
of the project”.

Tribune Business also
inquired about the environ-
mental consultant approval
letter attached to the EIA,
which stated that it was “RE:
Snake Cay Power Plant, Aba-
co - Pre-approval of Consul-
tants.”

Kevin Basden, BEC’s gen-
eral manager, said the EIA

SEE page 4B

best solution for the market-
place.

“Once we know the mar-

Ket is turning, and growth is
possible out there, we’d like
to support it with decent equi-
ty.”
Mr McWeeney emphasised
that a key goal for the bank
was “to fortify the long-term
capital base to withstand the
sort of shocks we’ve gone
through” with the current
recession, and correspond-
ingly sharp increase in non-
accrual loans.

Bank of the Bahamas Inter-
national’s current Tier I capi-

SEE page 2B

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



ROYAL FIDELITY

Money at Work

CLOW Ma else) MCT ett LN A

S devaluation
concerns rise

By NEIL HARTNELL
Tribune Business
Editor

The downgrade of
the Bahamas’ long-term
sovereign credit rating
is “the first step”
towards a potential
devaluation of the
Bahamian dollar’s
one:one peg with its US
currency counterpart, a
PLP Senator warned
yesterday, expressing
fears that “this could be
upon us in a year or
two” if corrective actions
were not implemented now.

Jerome Fitzgerald, who is also RND Holdings’
chairman, said Standard & Poor’s (S&P) concerns
over the composition of the national debt, part of the
reasons it cited for the downgrade to ‘BBB+’ invest-
ment grade, were directly related to the fact that
Bahamian foreign currency debt had doubled as a
percentage of the total - from 10 per cent to 20 per
cent - over the last two years.

With the downgrade meaning that any future inter-
national borrowings by the Bahamian government
were likely to require a higher interest rate to attract
investors, thereby raising the public sector’s borrow-
ing costs, Mr Fitzgerald said: “This downgrade, to
me, is the first step in our dollar coming under threat.

“What happened, and the reason why S&P
expressed concern about the US$ borrowings, is that
foreign currency borrowings have doubled in the last
two years and are now $1 billion. That’s the point
S&P are concerned about. They’re concerned that
the make-up of the debt has changed, and they’re
concerned that the foreign debt component has
increased.”

Arguing that the former Christie-led PLP adminis-
tration reduced the foreign currency component of the
national debt by about $100 million, from $500 million
to near $400 million, during its 2002-2007 tenure, Mr
Fitzgerald said the Ingraham administration’s
increased borrowing could produce balance of pay-
ments pressures.

The increased foreign currency debt component,
Mr Fitzgerald said, would “increase pressure on us to
find US dollars” to service principal and interest
repayments at a time when the main capital inflow
sources - tourism and foreign direct investment - were
severely reduced.

“Tf we can’t make payments on that US dollar debt

SEE page 5B

JEROME FITZGERALD



Last 12 Months

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ROYAL FIDELITY

Money at Work


PAGE 2B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE





overnment: 25
TIEAs in position

The Government last night said the
Bahamas has concluded Tax Infor-
mation Exchange Agreement (TIEA)
negotiations with 23 countries to-date,
with 10 signed, in a move to allay fears
that this nation might not meet the

Organisation for Economic Co-Oper-

ation and Development’s (OECD)

deadline for escaping its so-called ‘grey

list’.

Adding that it expects to exceed by
the OECD’s March 2010 deadline and
required minimum of 12 signed agree-



It added that TIEA negotiations
have been successfully concluded with
Germany, Canada, Spain, Mexico,
Australia, South Africa, South Korea,



ments, the Government said the 10
signed TIEAs were with the US,
Monaco, San Marino, the United King-
dom, New Zealand, the Netherlands,
the People’s Republic of China,
Argentina, Belgium, and France.

Negotiations

and the seven Nordic countries of Nor-
way, Sweden, Finland, Denmark, Ice-
land, Greenland and Faroe Islands.
The signature on agreements by
countries with whom the Bahamas has
concluded negotiations will follow the

completion of their relevant internal

procedures required for the signing of

treaty instruments. These internal pro-

Stocks slip to break

cedures, which have been fast tracked
by some countries, include the added
requirement of translating the agree-
ment into relevant native languages.

six-day winning streak

SARA LEPRO,

AP Business Writers
TIM PARADIS,

AP Business Writers
NEW YORK

The stock market edged
lower Tuesday, breaking a
six-day advance as reports on
home prices and consumer
confidence did little to excite
buyers.

Major indexes rose mod-
estly in the early going but
slipped as the dollar strength-
ened and tugged on com-
modities prices. A stronger
dolar makes commodities
more expensive for foreign
buyers.

Trading was quiet, as it has
been in recent days, and many



investors left at the end of the
day for a long New Year's
weekend. The low volume
held the Dow Jones industri-
al average to a 36-point range,
the narrowest in nearly three
years. The modest losses
came after stocks had risen
for six straight days.

Economic reports looked
stronger but failed to galva-
nize investors. The Confer-
ence Board said its index of
consumer confidence rose to
52.9 in December from 49.5
in November. That was slight-
ly better than economists had
forecast.

The index remains well
below what is considered
healthy. A reading of 90 or
more signals a solid economy.

LEGAL NOTICE
UKRNAFTA & OPPORTUNITY FUND LTD.

(In Voluntary Liquidation)






Notice is hereby given that the above-named Fund (“the Company’) is
in dissolution, commencing the 4* day of December 2009. Creditors
having debts or claims against the Company are required to send
particulars to Craig A. (Tony) Gomez, Liquidator of the said Company at
the offices of Baker Tilly Gomez, The Deanery, 28 Cumberland Street,
P.O. Box N-1991, Nassau, Bahamas and if so required by notice in
writing from the said Liquidator, to come in and prove the said debts
or claims at such time and place as shall be specified in such notice,
or in default thereof, they will be excluded from any distribution made
before such debts are proved or precluded from objecting to any such





















distribution.

Dated the 30" day of December, 2009




Craig A. (Tony) Gomez
Liquidator





However, the index has
jumped from a historic low of
25.3 in February.

Home prices also rose. The
Standard & Poor's/Case-
Shiller's home price index
rose for a fifth straight month
in October, edging up 0.4 per-
cent. The index was off 7.3
percent from October last
year, roughly in line with
expectations.

Analysts

Analysts said there were
few surprises in the economic
numbers to drive the market.

"The reports we're seeing
broadly reinforce the expec-
tations we've had," said Jim
Baird, partner and chief
investment strategist for
Plante Moran Financial Advi-
sors in Kalamazoo, Mich. "It's
slow and steady; It's not
explosive improvement.”

The Dow slipped 1.67, or
less than 0.1 percent, to
10,545.41.

The trading range was the
tightest since February 2007
and the fifth straight day
when the index has swung by
fewer than 70 points.

The Standard & Poor's 500
index fell 1.58, or 0.1 percent,
to 1,126.20, while the Nasdaq
composite index fell 2.68, or
0.1 percent, to 2,288.40.

Interest rates fell after a
successful auction of $42 bil-
lion of five-year notes. The
Treasury Department is issu-
ing $118 billion in debt this
week as part of its efforts to
fund its stimulus programs.
With so much debt flooding
the market, there's been con-
cern this year that demand

would diminish. Most auc-
tions though have been able
to attract decent demand.

The yield on the 10-year
Treasury note, which is used
as a benchmark for consumer
loans, fell to 3.80 percent from
3.85 percent late Monday.

The dollar reversed an ear-
ly slide and moved higher
against other currencies.

Oil rose 10 cents to settle
at $78.87 per barrel on the
New York Mercantile
Exchange. The stronger dollar
held oil below $79. Gold fell.

Tim Speiss, chairman of
Personal Wealth Advisors
practice at Eisner LLP in New
York, said he expects to see
the market build on its recent
gains at the start of the new
year and through the first
quarter.

"We're going to be build-
ing momentum," he said.

Falling stocks narrowly out-
paced those that rose on the
New York Stock Exchange,
where consolidated volume
came to a light 2.6 billion
shares, down from Monday's
2.8 billion.

In other trading, the Russell
2000 index of smaller compa-
nies fell 0.57, or 0.1 percent, to
633.18.

Overseas, Britain's FTSE
100 rose 0.7 percent, Ger-
many's DAX index added 0.1
percent, and France's CAC-
40 rose 0.3 percent. Japan's
Nikkei stock average inched
up less than 0.1 percent.

rade
UII Riles
New Year

preference
Ie

FROM page 1B



tal ratio, or risk adjusted capital, stood at 24 per cent, well
above the new ‘trigger’ threshold of 14 per cent set by the
Central Bank of the Bahamas.

The bank’s shareholder equity was “just shy” of $120 million,
Mr McWeeney adding: “When I took over eight years ago, it
was $17-$18 million. That was a major goal of mine, to increase
the capital base, so since I took over we’ve increased the cap-
ital base by $15 million a year.”

As for the expected fiscal 2011 bottom line performance, the
Bank of the Bahamas International managing director added:
“We don’t expect to be any less than we were last year. My view
is that if you’re on par with last year, you’re ahead of the
game.”

Mr McWeeney said Bank of the Bahamas International had
suffered in line with the rest of the industry when it came to
non-performing and past due loans as the economy spiralled
downwards, telling Tribune Business the institution was “hope-
fully slightly below” the 9 per cent average for non-performing
loans as a percentage of the total portfolio.

The Bank of the Bahamas International’s managing director
added that the rise in non-performing/non-accrual loans had
also been responsible for the drop in the bank’s first quarter
interest income to $12.775 million, compared to $13.645 million
a year ago - a fall of almost $900,000.

Still, as evidenced by the more than $14 million growth in
Bank of the Bahamas International’s loans and customer
advances during the three months to September 30, 2009,
reaching over $570 million, lending opportunities are still there.

“There’s still good demand out there,” Mr McWeeney said.
“Tt’s important the banks do lend to get the economy out of this,
and we still have a positive view on business expansion. Where
there are positive prospects, we will look at it. Hopefully, a lot
of the non-performing loans will correct themselves over the
next year.”

Following a “hard look” at its total loan portfolio by its
internal credit risk department, Bank of the Bahamas Inter-
national took a $2.655 million provision for specific loan loss-
es in the 2011 first quarter.

“We feel fairly confident that we will not have any significant
further provisions for the year,” Mr McWeeney said, adding
that to meet both the Central Bank’s and International Finan-
cial Reporting Standards (IFRS) requirements, specific provi-
sions were being recognised in the income statement, not the
balance sheet.

This helped to explain why Bank of the Bahamas Interna-
tional recorded a positive $1.8 million swing on its net credit loss
expense, the chief factor behind its improved net income per-
formance. The bank has also used a portion of its retained
earnings to create a general reserve.

Meanwhile, Mr McWeeney said Bank of the Bahamas Inter-
national “expects the return on investment to be significant”
from transferring its credit card processing platform in-house.

Pointing out that this was a service the bank planned to
export, Mr McWeeney said one credit card company, which cur-
rently used the same Panama-based processor it had done,
was interested in starting talks with Bank of the Bahamas
International in the 2010 first quarter about switching to its plat-
form.

“Tt has the ability to support credit card platforms from any
country in the world,” Mr McWeeney said. “Once we’re satis-
fied it’s functioning properly, we will be marketing that outside
the Bahamas. That’s a prime vehicle we can market outside the
country.”

Bank of the Bahamas International also expected to start the
first phase construction on its new West Bay Street headquar-
ters in 2010. That phase will involve the building that will
house the bank’s headquarters functions, the first phase of a
three-stage project.

‘All Xmas Items

even net xmas items

** original price only

=—

ty

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an
NaS,

THE TRIBUNE

(en)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 3B





Airlines set to incur
extra security costs

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

The increased costs from
enhanced security measures
at Lynden Pindling Interna-
tional Airport (LPIA) will
be incurred by the airlines
that use it, the Nassau Air-
port Development (NAD)
Company’s president said
yesterday.

Craig Richmond, who is
also NAD’s chief executive,
said the airport operator
could also face extra costs
because of the increase in
security due to the foiled
Christmas terror attack.
However, the additional
security will be seen at the
gate and not at pre-US Cus-
toms screening.

Mr Richmond said addi-
tional passenger screening
at the jetway gate has caused
delays for most of the air-
lines, and some passenger
malcontent.

However, he added that
most passengers understand
the increased security and
endure the longer boarding
processes.

“People generally realize
that measures are put in
place for their own safety,”
Mr Richmond said.

According to him, NAD
has not yet tallied the addi-
tional costs, but insisted that
it will be nominal. “We
don’t have to bring on any
more staff,” Mr Richmond
added.

On Christmas Day, a
Nigerian man aboard a

transatlantic Delta flight to
Detroit tried to ignite an
explosive or incendiary
device hidden in his under-
wear aboard the plane when
he was subdued by vigilant
passengers.

According to news organ-
isations, the new security
measures caused by this
event, labelled a terrorist
attack by US president
Barack Obama, have been
causing vast delays in flights
and angst among passengers.

Backlash

The Bahamas Hotel Asso-
ciation’s president, Robert
Sands, said that despite the
possible backlash for travel,
the paramount issue at the
airport is passenger safety.

“We cannot put anything
in front of that particular
issue, and the BHA supports
the initiatives to put in place
the procedures that will give
confidence to the travelling
public,” he said.

According to Mr Sands,
there is concern that travel
to the Bahamas could be
disrupted because of the
measures put in place at air-
ports. He further lamented
that this incident, coming
amid an economic recession
that stunted tourist arrivals
by air during the past year,
could be a double hit in
arrival numbers.

“It is regrettable that par-
ties continue to terrorise the
travelling public, which
could infer some additional
fear,” said Mr Sands.

This change in security
measures also comes after
the airport removed the
highly-contested second x-
ray screening at the entrance
to the departure lounge.
Many people considered the
second screening obsolete
and a nuisance.

Mr Sands said “there
would be a greater concern
if travellers did not feel the
appropriate screening is in
place”.

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.



Ansbacher (Bahamas) Limited, a specialist in private bank-
ing, fiduciary services and wealth management is seeking
candidates for the position of:

Senior Relationship Manager/Private Banker
The successful candidate will:

Manage and motivate a team of Relationship Officers
providing guidance, supervision, performance and
personal development

Develop new business and manage a portfolio of client

relationships

Market private banking, fiduciary and portfolio
management services

Cross-sell the Company's products and expand existing

relationships

Qualifications:

University Degree in Finance, Banking or Business
Administration and/or related professional designation

At least five year’s experience in the private banking sector
and have a thorough knowledge of private banking
products and services

Established record of new business development

Strong communication, analytical, interpersonal and
organizational skills

Proven excellent client relationship service

Fluency in a foreign language would be an asset

Applications should be submitted to:
Human Resource Department

P.O. Box N-7768
Nassau, Bahamas
Fax: 394-8898

E-mail: vacancies@ansbacher.bs

The deadline for all applications by hand, fax or e-mail Is
Thursday December 31, 2009.

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

















































BIE Bank & Trust Bahamas Ltd.

Is seeking the services of a
SENIOR TRUST OFFICER

The successful applicant will assist in providing supervisory support to the Trust
Manager of the Fiduciary Department.

Key Responsibilities

* Maintain professional administration of high net worth Fiduciary accounts.

+ Liaise with clients and their advisors in the establishment of new Fiduciary
structures and the ongoing management and administration of existing
structures.

* Meet clients’ needs in a timeley , professional manner.

- Review existing accounts to assure the administration is conforming to the
terms of the instrument and that client expectations are met.

- Contribute towards operational strategies, financial planning and bank
policies and procedures.

* Ensure compliance with in-house procedures and relevant legislation with a
view to minimizing risks.

- Develop and implement training related to Fiduciary account administration
matters.

lification nd Experience:

- Relevant professional qualification such as STEP, LLB or advance degree.

- Comprehensive knowledge of fiduciary law and estate planning.

* Minimum of 5-10 years of successful experience in managing fiduciary
relationships with high net worth clients (or equivalent).

+ Proficiency in MS Office Suite (Word, Excel).

- Excellent interpersonal and communication skills.

- Comprehensive knowledge of due diligence requirements and anti-money
laundering legislation and regulatory provisions of the Bahamas.

* Detail-oriented, problem solving, analytical and organizational skills.

- Working knowledge of The Bahamas legislation and regulations and their
relationship to trust and corporate policies and procedures.

+ Portuguese or Spanish language a plus, but not required.

Salary will commensurate with qualifications and experience.

Interested applicants meeting the above qualifications should submit a recent
resume by January 5th, 2010 to:

Human Resources
P.O. Box N-3990
1st Floor, Charlotte House
Nassau, Bahamas
Fax: 242-328-2750

Security

Position Purpose
The purpose of this position is to promote, enforce, and regulate the highest security standards

and practices in the workplace and to investigate and respond to various types of emergencies
as required to ensure a safe and secure work environment.

Environment

This position exists in an ever-changing environment that requires flexibility and the ability to
embrace frequent change. It requires persons with strong, genuine passion for promoting and
enforcing high safety and security standards.

Duties:

¢ Provide continuous monitoring of entire facility (offshore and onshore) utilizing
CCTV systems.

¢ Ensure only authorized persons access facility following ISPS protocol.

¢ Provide written/ verbal Reports of /Security matters to Management.

¢ Maintain daily turn-over log of all activities on shift, including equipment status,
and any unusual or important happenings.

¢ Conduct regular patrols throughout Terminal facility

¢ Investigate and report on all suspicious circumstances and hazardous conditions on
shift.

¢ Conduct spot checks on Vehicles and personnel at Terminal checkpoints.

¢ Provide assistance during evacuation exercises.

¢ Control traffic within the Facility, checking for violations, and enforcing full
compliance of company rules and regulations regarding motorized equipment.

¢ Receive and transfer incoming calls throughout facility.

Experience:

No prior experience required, training will be provided in all area.

Job Requirements:
¢ High School graduate

¢ Age 25-30

e Experience in Security, Safety and Fire-Fighting a good asset but not mandatory.
Training will be provided in all areas.

¢ Good Verbal and written communication skills (mandatory)

¢ Good working knowledge computer skills an asset

¢ Prepared to work 12 hour shift cycle

¢ Good physical condition

e Passion for excellence and teamwork

Reporting Line:
This position reports to the Safety and Security Superintendent.

Applications should be submitted to the
SHEQ Manager
Bahamas Oil Refining Company International Limited
Dbs Vopak Terminal Bahamas
P. O. Box F-42435
Freeport, Grand Bahama, Bahamas
On or before December 31, 2009
PAGE 4B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

SOUTHERN POINT VENTURES LTD.

In Voluntary liquidation

Notice is hereby given that in accordance with Section 137 (4)
of the International Business Companies Act (No. 45 of 2000),
SOUTHERN POINT VENTURES LIMITED. has been
dissolved and struck off the Register according to the Certifi-
cate of Dissolution issued by the Registrar General on the 5th
day of November, 2009.

Robert Roynon-Jones
Les Buissonets, Rue de la Hougette
St. Clement
Jersey, JE2 6LD

Liquidator



COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT

2008/CLE/qui/1322

Common Law and Equity Division

IN THE MATTER of three (3) pieces parcels or lots
of land situate on the Northwestern Side of the Queen’s
Highway approximately Two Thousand One Hundred
and Thirty-three (2,133) feet West of the Bridge to
Newton Cay in the Settlement of Seymours North
Long Island one of the Islands of the Commonwealth
of The Bahamas

AND

IN THE MATTER of the Quieting Titles Act, 1959
Chapter 393

AND

IN THE MATTER of the Petition of Eddington
Burrows

NOTICE OF PETITION
The Petition of Eddington Burrows of the Settlement

of Seymours North Long Island one of the Islands of
the Commonwealth of The Bahamas in respect:

FROM page 1B

did not require a second pre-
approval of the consultant
because it was the same pro-
ject but a different site.

RDA is alleging that the
Government, BEC and its
contractors began clearing the
site before the EIA was com-
plete. However, Mr Basden
insisted that Friends of the
Environment and other Aba-
co NGOs concerned about
the plant underwent a walk-
through of the property
before any construction
began. However, those NGOs
refute that claim.

Mr Kemp argued the road
to the present site of the $105
million power plant, which is
60 per cent complete, had
been pushed through before
the BEST Commission first
received the completed EIA.
Some EJA photographs show
some possible clearing may
have been done at the time
the pictures were taken.

Another concern raised by
the NGOs is the proximity of
the fuel pipeline and the pow-
er plant to a national park.
The EIA contends that the
facility is seven miles away
from the nearest settlement,
but small residential develop-
ments exist within three miles
of the plant as well as a sub-
stantial amount of farmland,
said to be the bread basket of
the island.

Mr Kemp said he suspects
this project was dreamt up in
a day, and carried out with-
out regard for a proper EIA
and public consultation.

According to the EIA:
“During the building permit
application and EJA review
process at the Town Planning
Committee meeting, should
the committee deem it neces-
sary and if there is strong pub-
lic objection to the project,

Costs to rise $3.5-$m from
Abaco plant's ‘fuel switch’

representatives or members
of the general public may be
invited to voice their views or
objections.

“Due notice is also taken
of any comments made by
NGOs such as Friends of the
Environment (FRIENDS).
With respect to FRIENDS,
there is a concern with regard
to potential impacts to Sea of
Abaco ecology, and specifi-
cally to the Pelican Cays Land
and Sea Park during the oper-
ation of the power plant.

Balance

“While this is an important
consideration in the power
generation dialogue, finding
the balance between the pow-
er generation needs of the
Abacos and the need to be
ecologically and environmen-
tally responsible are not
mutually exclusive and are
clearly acknowledged by
BEC.

“The importance for reli-
able and inexpensive electric-
ity, which provides the basis
for Abaco's continued and
improving standard of living
for all of its citizens, should
not be marginalised on the
basis of the ‘no development’
alternative. In addition, the
use of alternative fuels has
not yet developed to the util-
ity scale, although active
investigation into viable alter-
native technologies contin-
ues.”

Mr Kemp and the not-for-
profit group, Friends of the
Environment, have been rail-

NOTICE

RUCOL LIMITED

NOTICEIS HEREBY GIVEN as follows:

“ALL THOSE three (3) pieces parcels or lots of
land situate on the Northwestern Side of the
Queen’s Highway approximately Two Thousand
One Hundred and Thirty-three (2,133) feet West
of the Bridge to Newton Cay in the Settlement of
Seymours North Long Island one of the Islands
of the Commonwealth of The Bahamas containing
Fifty Seven Thousand Seven Hundred and Fifty-
five (57,755) square feet which said pieces parcels

RUCOL LIMITED is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

The Liquidator of the said company is Credit Suisse
Trust Ltd. Rue de Lausanne 17 bis, Geneva.

or lots of land are bounded on the North by
mangrove and running thereon One Hundred and
Forty-two and ninety-five hundredths (142.95)
feet on the East by land the property of John Smith
and running thereon Two Hundred and Ninety-
five and thirty-nine hundredths (295.39) feet on
the South by the Queen’s Highway and running
thereon One Hundred and Fifty-six and sixteen
hundredths (156.16) feet on the West by Land the
property of Hubert Smith and running thereon
Four Hundred and Fifty-eight and fifty-three
hundredths (458.53) feet which said pieces parcels
or lots have such position shape marks boundaries
and dimensions as are shown on the diagram or
plan attached hereto and thereon coloured pink.”

Eddington Burrows claims to be the owner of the
unincumbered fee simple estate in possession of the
said pieces parcels or lots of land and has made
application to the Supreme Court of the said
Commonwealth under Section 3 of the Quieting Titles
Act 1959 to have his title to the said pieces parcels or
lots of land investigated and the nature and extent
thereof determined and declared in a Certificate of
Title to be granted by the Court in accordance with
the Provisions of the said Act.

Copies of the plan of the said land may be inspected
during normal office hours at the following places:

a. The Registry of the Supreme Court Ansbacher
Building, East Street in the City of Nassau.

. The Chambers of Plakaris & Co., No. 16
Market Street, in the City of Nassau.

Notice is hereby given that any person having dower
or right of dower or an Adverse Claim or a claim not
recognized in the said Petition shall on or before the
30th day of December A.D., 2009 file in the Supreme
Court and serve on the Petitioner or the undersigned
a Statement of his Claim in the prescribed form,
verified by an Affidavit to be filed therewith. Failure
of any person to file and serve a Statement of his
Claim on or before the 30th day of December A.D.,
2009 will operate as a bar to such claim.

PLAKARIS & CO.
Chambers

No. 16 Market Street
Nassau, N.P.,

The Bahamas

Attorney for the Petitioner



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Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Ltd.
Liquidator

NOTICE

SORUVIND COMPANY LTD.
NOTIC EIS HEREBY GIVEN as follows:
SORUVIND COMPANY LTD. is in voluntary

dissolution under the provisions of Section 137
(4) of the International Business Companies Act

2000

The dissolution of the said company
commenced on the 24th December, 2009
when the Articles of Dissolution were submitted
to and registered by the Registrar General.

The Liquidator of the said company is CST
Administration (Bahamas) Limited, The Bahamas
Financial Centre, Shirley & Charlotte Streets,

Nassau, Bahamas

Dated this 29th day of December, A. D. 2009



CST Administration (Bahamas) Limited
Liquidator

NOTICE

MASSY LIMITED

NOTIC EIS HEREBY GIVEN as follows:

(a) MASSY LIMITED is in voluntary dissolution under
the provisions of Section 137 (4) of the International
Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the

Registrar General.

(c) The Liquidator of the said company is Credit Suisse
Trust Limited Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Limited
Liquidator

ing against the Governmen-
t’s plans to build the Wilson
City plant, which could use
Bunker C heavy Fuel oil.

According to those agen-
cies, that particular heavy fuel
oil is one of the worst pollut-
ing agents to be burned to
produce power.

However, Mr Basden said
the twin generators that will
supply Abaco with its power
would be able to accommo-
date the more expensive auto-
motive diesel, which is a
cleaner option for power pro-
duction. And government has

not yet decided which fuel it
will use to generate power.

Mr Basden said the dispar-
ity in the cost of running the
cheaper Bunker C fuel oil and
diesel would be $3.5 to $4 mil-
lion in costs.

Prime Minister Hubert
Ingraham said recently that if
Abaco preferred the more
expensive Automotive Diesel
fuel, it would have to incur
the cost. Traditionally, Aba-
co’s fuel costs, because of its
power plant’s inefficiencies,
have been subsidised by tax-
payers in New Providence.

NOTICE

(Voluntary Liquidation)

In accordance with Section 249 Sub-Section (2)
of The Companies Act, 1992 NOTICE is hereby
given that an Extraordinary General Meeting of
RICHMOND CORPORATION LIMITED will be held
at the Registered Office of the Company, Bahamas
Financial Centre, Shirley and Charlott Streets,
Nassau, Bahamas on the 15th day of January 2010
for the purpose of considering and approving the
Report of the Liquidator on the manner in which the
winding up has been conducted and the property of

the Company disposed of.



Liquidator



NOTICE
(Voluntary Liquidation)

We, Credit Suisse Trust Limited, duly appointed Liquidator
of RICHMOND CORPORATION LIMITED hereby
CERTIFY that the following are true and exact copy of
Resolutions passed at an Extraordiary General Meeting of
the Company held on December 18, 2009.

RESOLVED

1. That this Company be placed into voluntary

Liquidation.

2. That Credit Suisse Trust Limited be appointed
Liquidator with the power to act alone for the
purpose of winding up the affairs of the Company.

IN WITNESS WHEREOF | hereunto set my hand and the
Common Seal of the Company this 30th day of December 2009.



Liquidator

NOTICE

WINDSMOOR LIMITED

NOTICE |S HEREBY GIVEN as follows:

(a) WINDSMOOR LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

The dissolution of the said company commenced
on the 24th December, 2009 when the Articles of
Dissolution were submitted to and registered by the

Registrar General.

(c) The Liquidator of the said company is Credit Suisse
Trust Limited Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Limited
Liquidator

NOTICE

CELIPO LIMITED

NOTICE IS HEREBY GIVEN as follows:

(a) CELIPO LIMITED is in voluntary dissolution under the
provisions of Section 137 (4) of the International Business

Companies Act 2000.

The dissolution of the said company commenced on the
24th December, 2009 when the Articles of Dissolution
were submitted to and registered by the Registrar

General.

The Liquidator of the said company is Credit Suisse Trust
Ltd. Rue de Lausanne 17 bis, Geneva.

Dated this 29th day of December, A. D. 2009

Credit Suisse Trust Ltd.
Liquidator




an
NEY,

THE TRIBUNE



(ew)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 5B



‘Managing our own affairs’ key to 2010 performance

FROM page 1B

Bahamian economy, this
nation needed to do a better
job of managing itself - some-
thing highlighted by the S&P
move.

“T have very little doubt
that the global economic situ-
ation will be more favourable
than in 2009,” Mr Wilson said
of the upcoming year. “I am
very confident of that.”

However, he added of the
S&P decision: “That’s a third
party saying: ‘Hold on,
change. You’re going down a
path that is very dangerous.’

“What it really boils down
to is the extent to which we
manage our own affairs more
prudently. It’s [the S&P
downgrade] calling into ques-
tion legitimately how well
we’ve been managing our
own affairs. That will have a
lot to do with how well the
economy does in 2010.”

The Arawak Homes and
Sunshine Holdings chairman
then told Tribune Business:
“My sense is that there are a
number of factors that will
play out in 2010. A material
factor will be the Baha Mar
project.

“My understanding is that
the parties, the Chinese and
the principals of Baha Mar,
have reached an understand-
ing subject to the granting of
thousands of work permits
[for Chinese workers].”

Tribune Business was told
last week that Baha Mar’s
potential agreement with the
two Chinese state-owned enti-
ties, China State Construction
and the China Export-Import
Bank, for the $2.6 billion
Cable Beach strip’s redevel-
opment was “90 per cent like-
ly to go” ahead, with just a
few commercial details
remaining to be worked out.

This newspaper was also
told at the time that the Chi-
nese were seeking 6,500 work
permits for their construction
and other personnel who
would work on the develop-
ment, although no more than
2,500 would be granted - and
their holders present in the
Bahamas - at any one time.

This figure was subse-
quently disputed by well-
placed Tribune Business
sources, some suggesting the
number of work permits
being sought by the Chinese
was higher and others lower,
and those close to Baha Mar

saying it was not even an
issue.

Still, Mr Wilson said yes-
terday in relation to the Baha
Mar work permits issue:
“Clearly, that’s a matter that I
would think would warrant a
lot of public negotiation. I’ve
heard of 4,000 work permits.

“Clearly, whatever the
number is it’s a very material
amount. That’s a matter that
goes beyond just economics.
That’s a matter any govern-
ment will think about very
hard before making a deci-
sion. My understanding is it’s
the intention of the Govern-
ment to think very long and
hard.

“That is an overhang for
the economy,” Mr Wilson
said. “The second overhang
is that the Government has
to, has to, has to be more pru-
dent with its expenditure.

“T don’t care they take in,
what’s going on, but the rate
at which they are spending is
a very serious concern. Those
are the two overhangs for
me..... What will be the public
policy response to the Baha
Mar project and more pru-
dent fiscal management. We
are praying for better fiscal
management, improved fiscal

management.”

Still, despite these variables,
Mr Wilson said Arawak
Homes expected 2010 to be
better than the current year.

He explained: “I think, by
and large, a rising tide lifts all
ships and we expect 2010 to
be a rising tide. We do expect
the economic climate to be
more favourable, and the
management team we have in
place [at Arawak Homes] is
increasingly on top of their
game, so to speak.

“Arawak Homes has a
management team that has
been very creative, and the
fact it’s part of a financially
strong group of companies
makes it able to do some
things that allows it to differ-
entiate itself.

“We are being able to be
selective in terms of identify-
ing those with the capacity to
buy housing, and are targeting
them in a more specific way
than in the past.”

Mr Wilson said other group
companies, such as Sunshine
Finance, were able to assist
clients in restructuring their
financial affairs “so as to
maintain their standing in the
housing market”.

PLP Senator: § devaluation concerns rise

FROM page 1B

in the future, it puts the peg under pres-
sure,” the PLP Senator told Tribune
Business. “This downgrade is the first
step in that threat.

“This is the first step in the chain of
events that, if not addressed in an urgent
manner and not taken seriously - and
the Government has been lackadaisical in
its approach to these issues - and if we do
not come up with strategies and policies
to address this, I fear this thing will be
upon us in a year or two.

“Long-term, this is the most serious
thing happening to us. This is the first
threat to the Bahamian dollar, take it
from me.”

Arguing that the Ingraham adminis-
tration’s economic borrowing to date had
produced no tangible economic benefits,
Mr Fitzgerald said any foreign debt

reduction strategy needed to work ‘hand-
in-glove’ with an import substitution and
economic diversification strategy.

Yet he argued that there had been no
attempt to achieve this through the
growth of a Bahamian manufacturing or
production capacity, something that bor-
rowed foreign currency dollars should
be used for, Mr Fitzgerald said.

Imports

By developing such industries and
reducing the Bahamas’ reliance on
imports, the foreign currency debt pres-
sures would be alleviated as the outflow
of US dollars would be reduced.

When Tribune Business asked whether
it was the fiscal profligacy of both PLP
and FNM administrations that had
placed the Bahamas into its current fiscal
situation, Mr Fitzgerald responded by
arguing that the Christie administration

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BACHELORS DEGREE FROGRAMMES

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specialisms in Marketing,

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Finance, Banking

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Business & Management (top upl, BA

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reduced foreign borrowings, despite itself
borrowing a collective $540 million over
five years.

Instead, Mr Fitzgerald argued that the
Ingraham administration had borrowed
$750 million in its two-and-a-half years in
office, and was likely to breach the $1
billion mark in its third year in office,
taking the national debt through the $3
billion mark and towards $4 billion.

When asked by Tribune Business
about whether this administration and
future governments needed to cut spend-
ing, Mr Fitzgerald said that because the
public sector had to provide essential
services, the Bahamas instead needed to
look at reforming its tax structure.

“We have to look at revising our tax
structure. This cannot be maintained,”
he added. “The Government has to come
up with a comprehensive policy position
moving forward, communicate it to the
country and let us get our act together.”

JAMES B. GOMEZ @ Co.

CHARTERED ACCOUNTANTS AND CONSULTANTS

AUDIT SENIOR

James B. Gomez & Co. requires an Audit Senior with a
minimum of four (4) years post qualifying experience. The
successful applicant should possess a qualification that
makes them eligible for membership in The Bahamas
Institute of Chartered Accountants.

Suitable applicants should respond in writing to:

The Manager
P.O. Box SS-6229
Nassau, Bahamas

James B. Gomez & Co. is a member firm of DFK
International, a worldwide association of independent
accounting firms and business advisors.

rk

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.46 of 2000)

MOUNTJOY SERVICES LIMITED
IBC N° 152800B

(In Voluntary Liquidation)

NOTICE is hereby given in accordance with Section 131 (2)(a)
of the International Business Companies Act, (No. 46 of 2000),
MOUNTJOY SERVICES LIMITED is in Dissolution.

Any person having a Claim against the above-named Company is re-
quired on or before 15th February 2010 to send their name, address
and particulars of their debt or claim to the Liquidator of the Com-
pany, or in default thereof they may be excluded from the benefit of
any distribution made before such claim is approved

Mr. Nathan Santos of Suite 2B Mansion House 143 Main Street

Gibraltar is the Liquidator of MOUNTJOY SERVICES
LIMITED.

Aquidator



VOPAK TERMINAL BAHAMAS

Safety Officer/ Fireman

The purpose of this position is to promote, enforce, and regulate the highest safety standards and practices
in the workplace and to investigate and respond to various types of emergencies as required to ensure a

safe work environment.

Environment.

This position exists in an ever-changing environment that requires flexibility and the ability to embrace

frequent change. It requires persons with strong, genuine passion for promoting and enforcing high safety

standards.

Duties:

* Provide writter/ verbal Reports of Safety/Security matters to Mgmt.
« Maintain daily turn-over log of all activities on shift, including equipment status, and any unusual or impor-

tant happenings.

* Conduct regular patrols throughout Terminal facility

* Investigate and report on all suspicious circumstances and hazardous conditions on shift.

* Provide assistance during evacuation exercises.

+ Responding with Fire Trucks to onsite incidents and operate same as directed.
* Perform routine inspection of the firehouse, fire trucks, ambulance, and other ancillary equipment located

in the firehouse.

* Assist in training of shift fire crew as required,

+ Monitor job sites on daily basis and take note and correct unsafe acts/ unsafe conditions.
+ Ensure emergency response equipment is maintained in a constant state of readiness.

* Control traffic within the Facility, checking for violations, and enforcing full compliance of company rules

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* Free membership of International

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# No attendance requirement

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Experience in Security, Safety and Fire-Fighting a good asset but not mandatory. Training will be provided
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* Good Verbal and written communication skills (mandatory)

* Good working knowledge computer skills an asset

* Prepared to work 12 hour shift cycle

* Good physical condition

+ Passion for excellence and teamwork

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- - This position reports to the Safety and Security Superintendent.
www.rdicaribbean.com
Applications should be submitted to the
SHEQ Manager
Bahamas Oil Refining Company International Limited
Dbs Vopak Terminal Bahamas
P. O. Box F-42435
Freeport, Grand Bahama, Bahamas
On or before December 31, 2009

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

RDI (Regional Office)

Riverview Center Boulevard , oF

A .
eo] kam




PAGE 6B, WEDNESDAY, DECEMBER 30, 2009

THE TRIBUNE



Broker's $25m collapse ‘struck’ from indictment

FROM page 1B

from 2004 through 2008”.

The four companies in
question were thinly-traded
stocks on the over-the-
counter bulletin board, which
Georgiou and his co-conspir-
ators were alleged to have
manipulated by artificially
increasing the demand for,
and prices, of the shares. The
artificially inflated stock prices
were also used as collateral
to obtain margin loans from
the two Bahamian
broker/dealers.

“The indictment further
asserts that Georgiou and his
co-conspirators obtained the
loans from two Bahamian



brokerage firms, Caledonia
Corporate Management
Group and Accuvest,” Justice
Kelly said.

“Regarding Caledonia,
paragraph 11 of counts six
through eight of the indict-
ment states: “As a result of
the false representations of
defendant George Georgiou
and his co-schemers concern-
ing the collateral for the Cale-
donia account and their fail-
ure to provide additional
assets, Caledonia was unable
to cover the substantial
deficits in the [Ron Wyles]
account. Defendant Georgiou
and his co-schemers caused
Caledonia to suffer approxi-
mately $25 million in losses’.”

That part will remain in the

Legal Notice

NOTICE





indictment when Georgiou’s
case eventually goes to trial,
and Justice Kelly added:
“Regarding Accuvest, para-
graph eight of count nine
states that Georgiou ‘and his
co-schemers did not repay the
money that they had bor-
rowed on margin and in cash
loans from Accuvest, and
their artificially inflated stock
did not cover the loans. As a
result, defendant Georgiou
and his co-schemers caused
Accuvest to lose at least $4
million’.”

In addition, the judge not-
ed: “Specifically, the indict-
ment alleges that Georgiou
used wire communications in
interstate and foreign com-
merce to defraud Caledonia

and Accuvest.”

While Accuvest is still firm-
ly in business, Caledonia has
been in court-supervised liq-
uidation since February 2008,
a process that has not been
controversy-free.

Complained

Several clients and their
advisers have privately com-
plained about the fees being
charged by the liquidator,
Deloitte & Touche
(Bahamas) partner Anthony
Kikivarakis, and his attorney,
Alfred Sears, and the time
taken to return their assets to
them.

Caledonia collapsed into

Legal Notice

NOTICE

LARK VENTURES LTD.

(In Voluntary Liquidation)

DILLONPRO LTD.

(In Voluntary Liquidation)











Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator




is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,












Bahamas.

ARGOSA CORP. INC.
(Liquidator)





Legal Notice

NOTICE
HICKORY LANE

INVESTMENTS HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PLYMOUTH VENTURES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PICKWICK INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. 0. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

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

is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
SCHLESWISER HOLDINGS CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
WILDERNESS LONE CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PALACIN INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

liquidation after suffering the
Georgiou-inspired $25 million
trading loss, which resulted
when Jitney, its Canadian cor-
respondent broker, sold off
assets to cover an overdrawn
margin loan balance that was
not collateralised by Geor-
giou, who had created the
‘hole’ in question.

That overdrawn balance
was in an account operated
nominally by a Ron Wyles,
whose trading activities were
directed by Georgiou. Jitney
ended up selling off assets
belonging to Caledonia clients
other than Wyles/Georgiou
because they were all pooled
in one omnibus account with
it, with no segregation.

In his last report on the liq-
uldation to the Bahamian
Supreme Court, Mr Kiki-
varakis alleged that Caledo-
nia “allowed clients to use
other clients’ assets" in their
trading activities to cover
overdrawn cash balances.
These assets totalled $1.05
million, but some $468,000
used as collateral for this had
been sold by Jitney.

Some $575,000 had been
recovered from former Cale-
donia clients with overdrawn
cash balances in the Jitney
account, Mr Kikivarakis said.
He added that 12 Caledonia
clients had been allowed to
Operate margin accounts, and
while four had “substantial
overdrawn balances", only
one did not have sufficient
collateral - the Ron Wyles
account.

Still, progress has been
made in returning Caledonia
clients’ assets. As at July 31,
2009, Mr Kikivarakis said he
had issued instructions to

transfer $55.896 million worth
of assets, out of a total $67.035
million, to the 80 Caledonia
clients that accounted for an
estimated 89 per cent of the
company’s business.

Initially, Mr Kikivarakis
said it was estimated that a
total $81.188 million was due
to 220 Caledonia clients as at
September 30, 2008. Howev-
er, this was subsequently
revised to $75.332 million,
largely because it was discov-
ered that $6.27 million worth
of assets had been returned
to four clients prior to the liq-
uidation.

Out of the $11.139 million
that had not been transferred
to Caledonia's 80 most signif-
icant clients, as at the July 31,
2009, date, Mr Kikivarakis
said some $5.439 million of
this amount was transferred
subsequently once instruc-
tions were received from the
clients. A further $3.481 mil-
lion had been returned to
another five clients.

As for the remainder, the
liquidator said six had yet to
provide him with the correct
or necessary instructions to
transfer $2.381 million worth
of assets; five clients had
authorised him to sell $1.235
million worth of assets and
return the cash proceeds to
them; and another $850,440
was being held up because
two clients had yet to comply
with the Supreme Court's
order to pay 2 per cent of
their assets into escrow to
cover the liquidator's costs.

However, Mr Kikivarakis
said $4.388 million belonged
to 126 Caledonia clients who
had not given him instructions
to transfer their assets.

Legal Notice

NOTICE
EXMOOR HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
KIARA GROUP HOLDINGS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
PANTANEIRO HOLDINGS CORP.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P.O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)


an
WY

THE TRIBUNE

(en
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 7B



INTERNATIONAL BUSINESS



Consumer confidence rises in Dec, but still weak

ANNE D'INNOCENZIO,
AP Business Writer
NEW YORK

Americans are ending 2009
feeling better about the econ-
omy than when the year
began, buoyed by optimism
that job prospects will
improve in the first half of
2010.

Consumer expectations for
the job market reached their
highest level in two years, but
most people remain down-
beat about their current
prospects, according to a
monthly survey released
Tuesday. The survey also
showed fewer people plan to
buy automobiles and homes
in the next six months com-
pared with November.

"This doesn't mean that the
economy isn't getting better,
but it does raise doubts on
how much actual improve-
ment in the economy we've
actually seen,” said Mark Vit-
ner, senior economist for
Wells Fargo Securities in
Charlotte, North Carolina.

If past recoveries from
recession are a guide, the
rebound of confidence will
take many more months.

The Conference Board's

Consumer Confidence Index
rose in December for the sec-
ond month in a row, to 52.9,
from a revised 50.6 in Novem-
ber. That's slightly higher
than the 52.0 prediction of
economists surveyed by
Thomson Reuters, but still far
short of the 90 that would sig-
nify a solid economy.

Economists watch the con-
fidence numbers closely
because consumer spending
on goods and _ services
accounts for about 70 percent
of U.S. economic activity as
measured by the federal gov-
ernment. Without a marked
turnaround in the job market,
consumers will continue to
"hunker down" and confi-
dence will remain low, Vitner
said. The unemployment rate
dipped in November to 10
percent, from a 26-year high
of 10.2 percent in October.
Some analysts worry it will
start climbing again in com-
ing months, perhaps rising as
high as 10.5 percent next sum-
mer.

An uneven housing market
is unlikely to help. The close-
ly watched Case-Shiller home
price index released Tuesday
showed that a national index
of home prices rose for the



(AP Photo/Jim Prisching, file)

IN THIS DEC. 19, 2009 FILE PHOTO, shoppers jam Michigan Ave., as
they rush to find last minute deals in Chicago. A monthly survey said
Tuesday, Dec. 29, 2009, consumers’ confidence in the economy

rose again in December.

fifth month in a row in Octo-
ber, but only 11 of the 20
metro areas tracked showed
gains.

The consumer confidence
index hit a historic low of 25.3
in February after registering
37.4 in January and enjoyed a
three-month climb from
March through May, fueled
by signs that the economy
might be stabilizing. Since
June, it has bounced along
anemically between 47 and 55
as rising unemployment has
taken a toll.

The bright spot in Decem-
ber's confidence index was
consumers’ six-month out-
look, which rose from 70.3 to
75.6, the highest level since
December 2007. But the oth-
er main component, which
measures shoppers’ current
assessment, fell to 18.8 from
21.2. That level remains at a
26-year low.

"Regarding income, how-
ever, consumers remain
rather pessimistic about their
short-term prospects, and this
will likely continue to play a

key role in spending decisions
in early 2010," Lynn Franco,
director of The Conference
Board Consumer Research
Center.

The survey revealed that
the proportion of consumers
anticipating an increase in
their incomes declined from
10.9 percent to 10.3 percent.

The economy's health is
riding on consumers. The
overall economy as measured
by the gross domestic prod-
uct grew at an annual rate of
2.2 percent in the July-Sep-
tember quarter. That was the
first positive performance for
GDP after four consecutive
quarters of decreases, and it
marked the strongest sign to
date that the recession that
started in December 2007 has
ended. Economists expect
GDP to show even stronger
growth in the current Octo-
ber-December quarter, but
the recovery could sputter in
coming months if consumers,
worried about jobs, decide to
cut spending.

The problem is that it can
take a long time for confi-
dence to rebound. During the
last recession in 2001, it took
about two years for confi-
dence to climb back to a

healthier level of 90. The
index peaked at 144.7.

In the early 1990s, it took
three years for confidence to
rebound to healthier levels
because the economy was in a
jobless recovery, similar to
what's currently playing out.

The slight improvement in
consumer sentiment could be
seen in holiday shopping
trends. Shoppers spent a bit
more than expected when
adjusting for the extra selling
day between Thanksgiving
and Christmas this year,
according to MasterCard
Advisors’ SpendingPulse,
which track all forms of pay-
ment, including cash.

However, shoppers focused
on practical items and
bypassed gift cards, opting for
discounted items instead.

Michelle Baran of Atlanta
said the economy hit her hard
because her boyfriend's pay
was cut by 50 percent. The
43-year-old was at Atlanta's
Lenox Square Mall on Tues-
day returning clothes she had
bought for herself.

"T feel like the economy is
getting better,” she said. "But
the effects of the economy are
still with me. I'm still being
careful."

NOTICE

NOTICE is hereby given that GEORGE A. MILATOS of WEST
BAY STREET, P.O BOX N3579, 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 23'" day
of December, 2009 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

Legal Notice

NOTICE
LOKAI HOLDINGS INC.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P. O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
ASPERA OVERSEAS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
VIBRANT INVESTMENTS

GROUP LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator

Legal Notice

NOTICE

JENDALE FENNS HOLDINGS LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., PR O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE
IMBIAH INVESTMENTS PTE. LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,

Legal Notice

NOTICE
HANNAFORT

INVESTMENTS PTE. LTD.

is Argosa Corp. Inc., P O. Box N-7757 Nassau, Bahamas.

Bahamas.

(In Voluntary Liquidation)

ARGOSA CORP. INC.
(Liquidator)

ARGOSA CORP. INC.
(Liquidator)

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 30th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

EJ PG CAPITAL MARKETS
s BROKERAGE & ADVISORY SERVICES

cray Pca Nt AX LT

ROYAL = FIDELITY

Money 2: Work

BISX LISTED & TRADED SECURITIES AS OF:
TUESDAY, 29 DECEMBER 2009
BISX ALL SHARE INDEX: CLOSE 1,560.35 | CHG 7.36 | %CHG 0.47 | YTD -152.01 | YTD % -8.88
FINDEX: CLOSE 000.00 | YTD 00.00% | 2008 -12.31%
WWW_.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
52wk-Low Securit y Previous Close Today's Close Daily Vol. EPS $ Div $
1.03 AML Foods Limited 1.17 1617
9.90 Bahamas Property Fund 10.74 10.74
5.90 Bank of Bahamas 5.90 5.90
0.63 Benchmark 0.63 0.63
SA5 Bahamas Waste 16 B18
2.14 Fidelity Bank 2.37 2.37
9.92 Cable Bahamas 9.98
2.72 Colina Holdings aA72
S26 Commonwealth Bank (S1) 6.76
1.27 Consolidated Water BDRs 2.61
1.32 Doctor's Hospital 255
. 6.28 Famguard
Legal Notice 880. Finco
9.86 FirstCaribbean Bank 9.99 9.99

NOTICE é #0
LAZENTON INVESTMENTS PTE. LTD.
(In Voluntary Liquidation)

Change Yield
O.127
0.992
0.244

-0.877
0.125
0.055
1.406
0.249
0.419
0.114
0.625

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.14
0.27
0.00
0.00
0.00
0.00
0.00
0.00
0.00

ARGOSA CORP. INC.
(Liquidator)

9.98
2.72
6.90
2.88
2.
6.49
9.28

6.49
9.28

0.420
0.322
0.631
0.326
0.000
0.035
0.407
0.952
0.156
ases)
Interest

Focol (S) ATT A.77
Focol Class B Preference 1.00 1.00
Freeport Concrete 0.27 0.27
ICD Utilities
J. S. Johnson 9.95 9.95 0.00
Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Symbol Last Sale Change Daily Vol.
FBB17 100.00 0.00 T%
FBB22 100.00 0.00 Prime + 1.75%
FBB13 100.00 0.00 7%
FBB15 100.00 0.00 Prime + 1.75%
Fidelity Over-The-Counter Securities
Bid & Ask & Last Price
10.06 11.06 14.00
2.00 6.25 4.00
0.35 0.40 0.35
Colina Over-The-Counter Securities
30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months
1.4160 4.62 5.53
2.8552 -2.88 -3.92
1.5061 5.05 5.20
2.9618 -12.52 -15.21
13.2400
103.0956
99.4177

5.49
9.95
10.00

5.59 5.59 0.00

52wk-Hi 52wk-Low
1000.00
1000.00
1000.00

1000.00

Securi
Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

19 October 2017
19 October 2022
30 May 2013
29 May 2015

Notice is hereby given that the above-named
Company is in dissolution, which commenced on
the 24th day of December 2009. The Liquidator
is Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

52wk-Low Symbol EPS $ Divs P/E
Bahamas Supermarkets
Caribbean Crossings (Pref)

RND Holdings

Weekly Val.

ABDAB
RND Holdings
Fund Name Div $

CFAL Bond Fund
CFAL MSI Preferred Fund

1.4316 CFAL Money Market Fund

2.9343 Royal Fidelity Bahamas G & | Fund
12.5597 Royal Fidelity Prime Income Fund
100.0000 CFAL Global Bond Fund

99.4177 CFAL Global Equity Fund
FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

1.3419
2.8266

31-Oct-09
30-Nov-09
18-Dec-09
31-Oct-09
4.93
3.10
3.12
4.32
-0.59
3.56
4.17

5.90
2.52
2.76
5.26
-0.19
4.42
4.18

31-Oct-09
30-Sep-09
30-Sep-09
31-Oct-09
31-Oct-09
31-Oct-09
31-Oct-09

1.0000
1.0000
1.0000
9.0775

1.0804
1.0269
1.0742
Royal Fidelity Bah Int'l Investment Fund 9.4740

Principal Protected TIGRS, Series 1
10.0000 10.6301 6.30

6.30 31-Oct-09

4.8105 7.4613 35.40
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Royal Fidelity Int'l Fund - Equities Sub Fund 29.64 31-Oct-09
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks

Weekly Vol. -

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

ARGOSA CORP. INC.
(Liquidator)

KS) - 4for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
TO TRADE CALL: CFAL 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

(en)
Na LY,

WEDNESDAY, DECEMBER 30, 2009, PAGE 9B



eS



ST Deli staff - (from | to r) Lashea Bullard and Maggie Cartwright.

Studio

By REUBEN SHEARER
Tribune Features
Reporter
rshearer@tribunemedia.net _

4 TUDIO Deli’
is the name
of the new

kid on the culinary
block in downtown

Nassau.

This cozy establishment not
only provides healthy alterna-
tives to the usual fare to be
had in the downtown area, it
also strives to operate the
most environmentally friend-
ly restaurant on the island.

Studio Deli is housed in a
small circa 1930s building for-
merly used as a food store and
sandwich shop.

It has been continuous
operation for the past 70
years, run by the TJ Knowles
and later the Chase families.

In fact, many Bahamians
know the shop as the old
Chase’s Deli, which was open
until 2007.

The new deli on the corner
of Dowdeswell and Deveaux
Streets has been highly antic-
ipated by persons who fre-
quent the area.

Deli supervisor Maggie
Cartwright and employee
Lashea Bullard told Tribune
Taste that it's usual for cus-
tomers to walk into Studio
Deli exclaiming, “Finally, P’ve
been waiting for this place to
open!”

"They like the taste of the
food, and have been spreading
by word of mouth the praise
of how wonderful the food is
boasting of its endless menu
options,” Ms Cartwright said.

The deli offers healthy
breakfast and lunch choices
which are becoming more and
more popular these days with
persons looking to make
changes to their diets.

For breakfast there are an
array of cereal choices. But if
you want something more sol-
id, try their freshly baked corn,
blueberry, banana nut and
bran muffins.

On the morning menu are
also sausage, bacon, ham, egg
and cheese sandwiches, made
on wheat, white, or rye bread,
and they even come in a pita
wrap.

Get an early morning cup
0’ joe to wake up or just
choose from a variety of hot
drinks like regular coffee, café
latte, espresso, cappuccino,

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

on the

French vanilla, hazel nut, hot
chocolate, and regular tea that
are brewed each morning.

Studio Deli’s quiche lor-
raine has been selling like hot-
cakes, the staff said.

And the other quiches,
panini sandwiches and salads
are also real favourites with
the customers.

The deli also carries a veg-
etarian spinach and cheese
quiche.

The small restaurant has
now started its daily soup
options - low fat garden veg-
etable and tomato basil soups,
chicken and corn chowder,
cream of asparagus, lobster
bisque and conch chili are all
on the menu.

Fridays is the day for conch
chili. It’s hot and spicy in
flavour, and is simmered
down with pinto and kidney
beans, paprika chili season-
ings and fresh tenderised
conch.

And even if you want
something from the menu
that has sold out for that day,
Chef Keshlah Smith said she
will whip up a new batch.

The Italian panini is a def-
inite hit, and the roast beef
and provolone cheese on
wheat bread is delicious.

This panini, made with cia-
batta bread, is based with
home-made spaghetti sauce,
Genoa salami, with ham and
spicy pepperoni, and is grilled
using olive oil.

The deli’s seasoned house
wings have also proven to be
a hit, perhaps this is because
they're grilled and not fried.

Seasoned lightly with basil,
salt, and other spices, they are
served with a sweet sauce
made from basil, chopped
nuts, and molasses.

The wings are Studio Deli's
signature dish, staff told 77i-
bune Taste.

And to accompany the
food, you can treat yourself
to a cool ginger peach, red
current, pomegranate or
vanilla iced tea.

Chef Keshlah is the one
who came up with the unique
iced tea recipes.

The citrus punch and the
ginger lemonade are also very
popular.

Satisfy your sweet tooth
with home made desserts like
lemon meringue and cheese
cake. Oatmeal, guava duff,
and cranberry coconut cook-
ies are also available. Cus-
tomer favourites are the Swiss
mocha chocolate and rum
cake.

Deli hits downtown Nassau

Customers are particularly
excited that Studio Deli is
doing it’s part in the ‘green
movement’.

Studio Deli is the first
restaurant in Nassau to offi-
cially use materials which are
environmentally friendly.

It’s more expensive, but
"the benefits are innumer-
able," said Studio Deli owner
Michael Moss.

All of Studio Deli’s pack-
aging is made from corn, and
other vegetables. The food
containers, forks, spoons, nap-
kins, straws, drinking cups
and other utensils are all
made from various natural
materials.

The deli also uses eco-
friendly bags that decompose
over the period of month as
they are made from bio-
degradable material.

“Green packaging is
becoming industry standard,”
Mr Moss said.

Studio Deli is cozy sit-in
bistro with a unique atmos-
phere, where everything is in
keeping with the wellness
theme.

The restaurant is outfitted
with colorful antique bottles
from the 1920s, and customers

love its retro feel.

Mr Moss said he brought
the bottles over as souvenirs
from Argentina.

He has also decorated the
restaurant with an assortment
of African baskets.

“Studio Deli is a mod-
ernistic interpretation of tra-
ditional Bahamian style,” said
Mr Moss. "When you walk in
here you notice a different
but familiar feel all at the
same time,” he said.

Patrons can also enjoy Wi-

STUDIO Deli

Fi access on their laptops dur-
ing store hours.

But at the end of the day, a
restaurant’s success depends
its quality of service and food,
and people are already
responding quite positively to
the new bistro.

Chef Keshlah of Essence
Catering prepares all of the
food. A very talented cook,
she prepares food for resi-
dents in the Ocean Club
Estates, and several other
local food establishments,

INSIDE Studio Deli





including Logos Bookstore.

And don’t be surprised if
you see a small care plastered
with Studio Deli parapherna-
lia zooming down your street
next year. Plans are in motion
for Studio Deli to start its
delivery service soon.

The delivery route will cov-
er the eastern edge of down-
town, targetting the four
zones around Scotiabank
East, First Caribbean West,
Shirley Street and Bay
Streets.


PAGE 10B, WEDNESDAY, DECEMBER 30, 2009



THE TRIBUNE



The Tribune







‘Children of God’

By JEFFARAH GIBSON

KAREEM Mortimer’s
movie ‘Children of God’,
which tells the story of a
gay Bahamian man in a
homophobic society, has
received nothing but posi-
tive responses from audi-
ence members, the filmmak-

er said.

Sitting down with Tribune Enter-
tainment, Mr Mortimer said that
because ‘Children of God’ tells the
story of a gay white Bahamian and his
struggles, some people label it as con-
troversial, but the filmmaker himself
said the only thing he did was tell a
human story.

“Sexuality is a big deal in the film,
and this is one of the things that we as
a people don’t like to talk about. It is
not a film to shock the audience, and it
might be controversial to some, but I
don’t find anything controversial about
what is discussed in the film,” he said.

Hawkeye
getting

ready to |
drop debut
reggae

album

REGGAE artist Christopher Smith, more
popularly known as ‘Hawkeye’, is getting ready
to release his debut album entitled ‘Hawk
Extra’. This album will feature tracks produced
by some of the best in the reggae industry such
as Grammy winning Sly and Robbie; Shane
Browne; Winston “Wee Pow” Powell; Richard
Brownie, and Ernie Wilks, to name just a few.

The album’s title track is called ‘Damn’, a
song which speaks of modern reality that affects

people on a daily basis.

The track was produced by Shane Browne.

The concept for the whole album, the artist
said, is to produce a more mature album with a
cultural vibe, uplifting people and addressing
social issues as well as denouncing violence.

Three of the tracks on the album are about
respect, appreciation and love for women.

Hawkeye is now putting the final touches on
‘Hawk Extra’, an album that will showcase a dif-
ferent aspect of this talented artist. The expecta-
tions for this album are great and fans world-
wide are anxiously awaiting the release. The
exact release date has not yet been determined,
but the album will be available internationally
within the first quarter of 2010.

Swing Sang Productions and Hawkeye are
consistently working towards the release of
‘Hawk Extra’. Swing Sang Productions are
supervising the process, organising the promo-
tion and dealing with the business aspects such

as distribution.

1 i
hotate

By REUBEN SHEARER
Tribune Features Reporter
rshearer@tribunemedia.net

THE stately Collins House on
Shirley was the site of the highly antic-
ipated ‘Rotate’ spectacle featuring six
events in one place at the same time
earlier this month.

Over 500 persons celebrated on the
beautifully landscaped grounds
belonging to the historical edifice.

“This is the first event held there
since it’s last occupants,” said Ranard
Henfield, Rotate organiser and also
CEO of the 242 People Clothing Line.

“They have been renovating for a
few years, restoring the inside of the
building the way it was first built. We
plan to put a five star restaurant on
the first floor, and turn a portion of it
into a museum.”

Two Saturdays ago, the grounds of
Collins House were transformed into
a scene like out of the movies, as

Mr Mortimer said that ever since
the film’s premiere he has been getting
nothing but positive responses from
people.

“People were overwhelmingly posi-
tive. I have had numerous phone calls
and e-mails from people telling me
what they took from the film and what
it meant to them. I never imagined
that people would be able to identify
with the storyline.

“The movie doesn’t alienate any-
one, it’s a movie for straight people,
gay people, it’s a movie for Christians,
and at the end of the day I made a
honest film that captures a human sto-
ry,” he said.

While sexuality is the prevalent sub-
ject throughout the film, hypocrisy,
Mr Mortimer said, is the most impor-
tant theme that makes the movie uni-
versal.

And now fresh off the success of his
movie ‘Children of God’, the Bahami-
an director and filmmaker is already
hard at work creating, as well as co-
directing new films that are expected to
make their debut in 2010.

The gratifying success of the *Chil-

h

attendees were treated like high pro-
file celebrities and greeted by a red
carpet similar to the Grammy of
Academy Awards.

At sunset, a spotlight lit the sky,
moving east, west, north and south
as hundreds of people of all ages
made their way to the Rotate event.

Bernadette Christie, wife of former
Prime Minister Perry Christie, opened
the event with Chef Jamal Petty in a
live taping of his JCN ‘Island Flare
Celebrity Cooking Show’.

After whipping up a few dishes, he
and Mrs Christie served up their food
to attendees at the event.

Novie and Tim “Shiraz” Rodland
gave live performances at the fash-
ion show as the 242 People Clothing
Company debuted their new designs.

Fifty models strutted down the run-
way in sports, smart-casual, winter
and urban designs.

The hoodies were a special high-
light in winter clothing.

They come in eight colours, includ-
ing the company’s staple colours of
black, aquamarine and gold.

It was a high class fashion show,
and attendees lined up along the run-
way to applaud the models as they

dren of God’ , Mr Mortimer told 77i-
bune Entertainment, has inspired him
to continue to take on new and excit-
ing projects.

“T have a number of undertakings
for next year. I have already begun
working on a film for 2010/2011,” he
said.

Mr Mortimer has joined forces with
another director, a foreign national
who resides in the Bahamas, to devel-
op the film “Wind Jammers’.

When two talented artists collabo-
rate, it allows for the exchange of great
and unique ideas, and possibly amaz-
ing results.

“T have also collaborated with Rick
Vonamur where we both direct this
film. Even though it is a joint effort,
it’s all about him and I am just excited
to be working with him on this pro-
ject,” he said.

‘Wind Jammers’, set in the
Bahamas, is a comedy that tells the
story of a young American girl who
moves to the Bahamas with her father.
During her time in the Bahamas she
learns a number of valuable life
lessons.

walked by.

None of the merchandise was sold
on-site, and attendees were directed
to the Sports Centre to purchase items
from the 242 People Clothing line.

A booth was set up for interviews
with Sammi Starr, who talked about
his new album, signed autographs,
and gave out new CDs. He later per-
formed on stage with Visage.

Scharad Lightbourne hosted part
four of his ‘CLICK’ art series, featur-
ing present and past exhibits.

Mr. Henfield walked through
‘CLICK’ to get feedback from the
onlookers.

“All of Scharad’s works were on
display,” he said. “I walked through
‘CLICK’ to see how it went and peo-
ple loved it.”

Also in another one of the six des-
ignated areas at the event, Rotate fea-
tured the year-end networking event
for the local business fraternity
Bahamas Dinner Network.

“The foreman of Collins House was
so impressed to see what was done
at the venue that he arranged an
emergency meeting this week to dis-
cuss working with us to do events now
at Collins House,” Mr Henfield said.

“This is a ‘coming of age’ story, and
it is just simply about growing up,”
the filmmaker said.

The film is targetted towards teens
who should be able to easily identify
with the movie’s storyline.

Major work for the project has
already been completed.

“We have already shot the movie,
and we are doing the post production
right now,” he said.

Mr Mortimer said he is not sure
whether ‘Wind Jammers’ will be fea-
tured in next year’s Bahamas Inter-
national Film Festival (BIFF).

As for his next solo project, Mr
Mortimer said he is still in the devel-
opment phase, but expects that it will
be just as intriguing and successful as
‘Children of God’.

“*Children of God’ was a beautiful
story, and this film will be as success-
ful as “Children of God’. I am also not
sure if this one will be a feature in the
film festival, but I am thinking of get-
ting it on Netflix,” he said.

For those who did not get a chance
to see ‘Children of God’ during BIFF,
they will be able to view the movie
on DVD sometime next year.

“We are trying to secure distribu-
tion by summer so that the movie can
be accessible to all who did not get a
chance to see it,” he said.



Ralph G Collins, in his lifetime a
prominent citizen, politician and busi-
nessman in the Bahamas, built the
mansion shortly after the 1929 hurri-
cane on his large estate that stretched
from Shirley Street to Wulff Road.

The building has had many owners
over the years.

St Andrew’s School Limited
acquired a portion of the property
from the Collins Estate in 1950. It
was purchased by the government in
1970 and has been occupied by the
Ministry of Education since June
1972.

The great response to this year’s
event has definitely made it a ‘must’
for 2010, organisers said.

And Chef Jamal Petty’s show was
received so well by the audience that
plans are in motion for a new season
of his ‘Island Flare Celebrity Cooking
Show’ to be taped in the front of a
live audience every week.

The Rotate Event was organised
by six enterprising young Bahamian
men. Team members included
Ranard Henfield, Sammi Starr,
Scharad Lightbourne, Jason Fergu-
son, Cameron Smith and Chef Jamal
Petty.

¢ New Year’s Eve Parties

ATLANTIS, PARADISE ISLAND
In addition to a special
junkanoo parade and fire-
works at a Marina Village,
Atlantis is hosting the follow-
ing parties:

- For children, Atlantis is
offering the New Year’s Eve
Non-Stop Party at Atlantis
Kids Adventures.

For kids aged three to eight,
Atlantis Kids Adventures pre-
sents Renee Adams, an inter-
active entertainer who will
keep all the little ones
engaged. The party starts at
6.30pm and reservations are
required. Call 363-3000 for
more information.

- For teenagers (13-17),
Atlantis is putting on the ‘Cel-
ebrate Like Celebrities New
Year’s Eve Party’.

Teens are encouraged to
dress up like their favourite
celebrity for the ultra-lounge
dance party. Complimentary
apple ciders are offered lead-
ing up to the countdown at
midnight.

Call 363-3000 for more infor-
mation.

- For Adults, Aura Nightclub
presents the New Year’s Eve
Gala 2009

with DJ Rashida from Ameri-
ca's Best Dance Crew

There is complimentary
champagne for the toast at
midnight. For table reserva-
tions contact Jason Kushel at
424-8746.

aa

Green Parrot celebrates New
a Ace lesm eM NMC M em ecUne mcs
DJ.

Guests can enjoy a great
view of fireworks over the
harbour and three course
dinner with a glass of cham-
pagne for $55 per person.
Call 322-9248 or visit Green
Parrot on East Bay Street for
ely

SENOR FROG’S

New Year’s celebrations start
at 8pm. It’s $60 for open bar,
dinner costs extra and reser-
vations are required for din-
ner.

Guests can ring in the New
Year on the waterfront and
then enjoy the junkanoo
parade!

Parking is available at the
British Colonial Hilton. Call
323-1777 for more informa-
tion.

ON tome

The restaurant’s special New
a GlatsaleM OU AN ALUM eHIU Ceci)
A(o)U/meolUlesxeMe LINN TVMNUINNMAaLsOLe
selections, a champagne
toast, live band, fireworks
and a junkanoo rush-out.
The party starts at 7pm and
tickets are $125 per person.
Call 327-4500 for more infor-
mation.

VILLAGIO

The Italian restaurant in the
Caves Village is offering a
five course dinner, music,
dancing and cocktails for
New Year’s.

Dinner is $160; $210 with
unlimited beverages; the par-
ty of dinner is $100 per per-
son.

Call 327-0962/5 for reserva-
tions.

BAHAMAS HARVEST CHURCH
The church is ringing in the
new year with a special
countdown celebration at the
Sheraton Nassau Beach
Resort Convention Centre.
Doors open at 9.30pm.
Pastor Mario Moxey will
deliver his prophetic mes-
sage for 2010 during the
VCUIIG



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

WEDNESDAY, DECEMBER 30, 2009, PAGE 11B



ARTS



Mr Beeds

making strides

NOW that he has firmly
established himself on the
local music scene, hip hop
artist ‘Mr Beeds’ is making
strides towards his interna-
tional break-through while
working on his sophomore

album.

Mr Beeds, born Ricardo
Wellington Forbes, has been keep-
ing busy, and after having released
the video for his single “Aaa-
Choo” he is already working on
his next video.

He says his long-term goal as
an artist is to “travel the world
and inspire people to make this
world a better place.”

So far, he has already per-
formed in the Cayman Islands and
in Florida.

His debut album, “Peak State”,
has been described as “a socially

Influenced and inspired by a
variety of artists such as Marvin
Winans, Wyclef Jean, Outkast, P
Diddy, Gnarls Barkley, Capleton,
Jonathan Butler and Michael
Jackson, just to name a few, Mr
Beeds has created his very own
style.

The artist’s fun, honest and
eccentric personality translates
into what he calls “inspirational
music with a touch of comedy.”

Born and raised in Nassau, the
32-year-old hip hop artist attend-
ed C C Sweeting secondary high
school and the College of the
Bahamas where he obtained a
degree in agriculture.

His father supported his choice
to enter the music industry and
his mother encouraged Ricardo to
join the church choir so he started
singing from an early age.

Ricardo explained how he
came by the alias ‘Mr
Beeds’: “I had a

wore a lot when I was much
younger. A friend started 4
calling me Supabeeds then ,
it evolved into Mr Beeds.
Some people still call me
Supabeeds today.”

Mr Beeds said he is
always inspired by his fans,
especially when he hears
about his music helping to
change lives for the better.

He aims to bring across a mes-
sage of hope and utilises his
Bahamian dialect to do this, while
still making his songs accessible to
international listeners.

Mr Beeds says music is his life and
his life experiences make his music,
always coming straight
from the heart.
























conscious tour de force of culture favourite pair of
and faith.” beads that I didn | oe
In his singles such as “Hands flac) tae
Up”, “Life”, “Aaa-Cho” and Ae eel ae
“Never Knew”, Mr Beeds uses his
parable style story-telling skills Teta
and comedic commentary to buyer Hace
express his reflections on life.
Mr Beeds has also been devel- faith
oping his other creative skills. ay i
He is a guitarist as well as an Ath
actor, script writer and director
who has done work in the
Bahamian film industry.

i





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


Mr Beets

making strides
see page 11

New Kid on
the block

see page nine



=

WEDNESDAY, DECEMBER 30.2009

reer

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*












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“If you go into the Sistine Chapel
you will see Michaelangelo’s the
“Creation of Man,’ the individual
featured is nude. If you look at a
lot of biblical images used in church-
es, many of them reflect nudity
which is the essence of man.”

“am intentionally not being spe-
cilic or trying to be illustrative,
because it is important for other
people to add their voices,” said Mr
Roberts.

“Where you are, whatever your
experiences are, you should bring
them with you when you see my
work.”

When asked to break down his
vision for the pieces, he declined.

“You interpret what you see.
Bach piece should be surveyed
based on your experience and what
you bring to the work.”

The whole idea is to have exhibits
that will get the public’s attention
and help them see art in a different
light, he said.

“\ try to make something inter-
esting out of the things people dis-
card.”

While all pieces show women
doing different things in the nude,
none of Mr Roberts’ paintings are
erotic in nature.

Mr Roberts’ desire is to have the
art experience become meaningful
at every level, intellectually, aes-
thetically, emotionally and spiritu-

ie |

By REUBEN SHEARER
Tribune Features
Reporter
rshearer@tribunemedia.net

NUDITY is depicted
in art pieces in gal-
leries all around the
world. And now this
particular subject,
which often attracts
controversy in the art
world, is coming to
Nassau.

Next month, Antonius
Roberts is sure to cause a stir
when opens his new exhibition,
entitled ‘The Naked Truth’,
which will feature paintings and
sculptures of naked women in
various degrees of exposure.

Some people who see the
pieces will be completely

“turned off” by them, Mr
Roberts told Tribune Art.

But he feels that this exhibi-
tion is something that has to be
done in order to start a dialogue
on pertinent issues in Bahami-
an’s minds.

Mr Roberts approaches his
sculptures and paintings with the
intent of having fun - splashing,
scraping, pushing, pulling, drip-
ping, wiping and carving his way
into a state of animation.

Intuition and his visual sensi-
bilities click in, then the dialogue
begins.

One of the Bahamas’ most
noted artists and sculptors, Mr











Roberts said he is motivated by
a personal philosophy that can
be briefly described as ‘conser-
vation, transformation and
preservation’.

These words are well illus-
trated by his famous Sacred
Space concept.

‘Sacred’ is a word he uses a
lot and it is a word intended to
reflect his spiritual inspiration,
his own creative freedom of
expression and his desire to
inspire others to preserve those
things that should be left intact
to bear witness to their cultural
heritage.

Ata preview of his latest exhi-
bition in a studio and gallery on
Prospect Ridge, Tribune Art got
to see that Mr Roberts is not
tiptoeing around the issue of
nudity in any way.

And he quickly explained
his reasons for creating his
nude art:








A a lh oh ee te

4 i
ally.

“T’ve used a lot of women in my
work,” he said.

“This whole image of the perfect
woman, or this essence of beauty is
what sells and captures people’s
attention.”

‘The Naked Truth’ exhibition will
be on display in the lobby at the
Central Bank of the Bahamas from
January 11 to February 12, 2010.

And while there’s no official

‘This whole image of the perfect woman, or this essence
of beauty is what sells and captures people’s attention,

opening, Mr Roberts looks forward
to the day the public will be able to
view his latest work.

The exhibition seeks to touch on
hot button issues in the community.

“Such issues are the marital rape
law, capital punishment, gender
identity and the position of the
church in all of this,’ Mr Roberts
said.

He questions whether we as a
people are comfortable talking
about the state of affairs in our
country and globally.

And this upcoming exhibition
isn’t the first time he’s dealt with

nudity.

“This body of work is not for sale,
it is just my response and reaction to
what is happening in the communi-
ty today,” he said.

“As a citizen of the Bahamas, I’m
just lending my voice to it, not mak-
ing any judgment call.”

Mr Roberts said he doesn’t want
to pass the blame on anybody. He
promotes his works to continue the
public dialogue so he can get to the

- Antonius Roberts —

core of how to debate these issues,
and find a solution.

“Most of my exhibits are about
making a social statement,” he said.

“All of us need to use whatever
talents and/or resources that we
have to deal with the concerns that
are prevalent in our society today.”

The pieces of in ‘The Naked
Truth’ exhibition will have individ-
ual titles and Mr Roberts expects
people to also react to those.

“A lot of these things are hap-
pening behind closed doors and we
are not talking about them,” he said.

Explained on of the paintings,







which depicts a bap-
tism, featuring a
woman with her bare
breast, the artist said:

“For me it was the
whole image of an
innocent young lady in
an archway, that sort of
mirrors the holy arch-
ways that you see in
churches.”

Behind this woman

there’s an older man holding a
Bible, reading the Psalms. Shes
standing within the space, and
they’re both within close proximity.

“There’s a connection and dia-
logue that is happening here. That
relationship and dialogue that is
happening in society between older
men and younger women.”

Mr Roberts said that because he
as an “artist’s license”, he can take
as many liberties as he likes to
express through the brush and
paint a unique vision about cur-
rent issues that are not openly spo-
ken of as often as they should be:




PAGE 1

N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R Ministry to recruit teachers from UK C M Y K C M Y K V olume: 106 No.31WEDNESDAY, DECEMBER 30, 2009 PRICE – 75 (Abaco and Grand Bahama $1.25 WEATHER PARTLYSUNNY, ANDBREEZY HIGH 76F LOW 64F F E A T U R E S SEE ‘THEARTS’ SECTION S P O R T S ‘The Naked Truth’ SPORTSSTARTSONPAGEEIGHT USASelect tops Cobras B y TANEKA THOMPSON Tribune Staff Reporter t thompson@ t ribunemedia.net SPECIALIST teach e rs from the UK are to be r ecruited to supplement areas that Bahamian educators cannot adequately fill, new Minister of Education Desmond Bannister has vowed. Starting next month, min istry officials will cast their net overseas hoping to contract a "limited number" of British teachers who specialise in mathematics, English language and literature. The move is a short-term bid to improve the literacy and numeracy skills lacking in many public school students. "We will start a recruit ment exercise for a limited number of teachers from England, and they're going to be specialist teachers. They will only be brought in areas where we don't have Bahamians to fit the n eed," Mr Bannis ter told The Tri bune . He would not r eveal how many spots the govern ment hopes to fill b ut said the successful candidates must bring a wealth of experience to the table along with a passion f or teaching. F or years, the public school system has been criticised for producing a numb er of students who only p ossess rudimentary knowledge of reading and mathe matics skills, and enter the job market ill equipped. Mr Bannister believes the problem may be due in part to a lack of Bahamian teachers who are willing to specialise in mathematics and language concentrations. "One of the problems is that we've been graduating lots of generalist teachers from the College of the Bahamas (COB to focus more now on teach The Tribune ANY TIME...ANY PLACE, WE’RE #1 BAHAMASEDITION TINGS TOUGH McDOUBLE FOR $3.79 www.tribune242.com BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page two Specialists to ‘improve numeracy and literacy in public schools’ B y PAUL G TURNQUEST Tribune Staff Reporter pturnquest@tribunemedia.net ELIZABETH MP Malcolm Adderley is r eportedly contemplating crossing the floor of t he House of Assembly to join the ranks of t he FNM, sources within the party have suggested. Initially it was believed Mr Adderley had b een wooed by the governing party to relin MPAdderley ‘contemplating joining FNM’ SEE page 11 By ALISON LOWE Tribune Staff Reporter alowe@ tribunemedia.net A PRISON officer was accidentally shot while on duty at Her Majesty’s Prison yesterday. Deputy Superinten dent of Prisons, Charles Rolle, said the guard was near the prison armoury when an attempt by a senior officer to open a “jammed” revolver resulted in a bullet being discharged. The guard was left nursing a gunshot wound to the “flank” area. He was rushed to hospital. The incident took place shortly before midday yesterday. “The family has been informed and they are by his side,” Mr Rolle said. Last night, the police issued a statement sayPRISON OFFICER A CCIDENTALLYSHOT SEE page 11 P OLICE OFFICERS l eave the prison yesterday after the accidental shooting. F e l i p M a j o r / T r i b u n e s t a f f By MEGAN REYNOLDS mreynolds@tribunemedia.net FAMILY and friends of pop ular St Andrew’s School graduate Francis Farrington are coming to terms with his untimely death, one month after his mysterious disappearance. Police confirmed their greatest fear just days before Christmas as the 27-year-old’s dental records proved the decomposed body found behind the Anglican Church head office in Addington House, Sands Road, was his. Mr Farrington’s family had been in daily communication with police since he vanished without a trace on November 24. His sister Christine Ferguson said he had told his father he was going out for a short while at around 5pm, and when there had Police confirm body is that of missing man SEE page 12 RUMOURS swirled yesterday that troubled golf superstar Tiger Woods spent Christmas in George Town, Exuma. Up until Sunday, Woods was reportedly seen soaking up the sun on the island. Woods, who turns 34 today, is said to be sailing on a boat in The Bahamas to escape the scrutiny and media coverage. Meanwhile the sex scandal that has engulfed him may have cost shareholders of companies endorsed by the world's No. 1 golfer up to $12 billion in losses, according to a study by two economics professors from the University of California. The study, released on Monday by researchers Victor Stango and Christopher Knit tel, gave an estimate of damage to the market value of Woods' main sponsors caused by revelations of alleged extramarital affairs that sur faced after he was involved in a minor car accident outside his Florida home on November 27. "We estimate that share holders of Tiger Woods' spon sors lost $5-12 billion after his car accident," the researchers T iger W oods ‘spent Christmas in Exuma’ SEE page 11 Francis Farrington

PAGE 2

M INISTERof Education D esmond Bannister visited t he Anatol Rodgers High School on Faith Avenue last week to inspect thep rogress of the work being carried out at the facility. Mr Bannister said it is a priority for him to see thes chool fully operational and free of construction activity as early as possible in the new school year. R an-Mar Construction is c arrying out the work, and the company estimates thatt he job should be finished i n early 2010. The minister toured the perimeter of the school, inspecting the temporaryb arriers in place to ensure that students remain on the campus and trespassers are kept out. Mr Bannister also inspected the science and home-economic labs as wella s the school’s gymnasium t o see the progress of the w ork in those areas. Since the last inspection o f the school in November 2009, the entrance and the front and side parking areas have been paved and eight of 12 wells have been dug to prevent flooding on the g rounds. Lunch pavilions complete with seating areas have also been erected in the senior and junior blocks. Randy Penn, head of R an-Mar Construction, assured the minister that once certain changes to the plans are approved by the ministries of Education and Works, the air-conditioni ng systems for the gymnasium and the remaining work on the science labs will be completed, as well as any other outstanding works. ers who have very specific skills that they can bring to the table. "We have to focus on teachers who are not afraid of mathematics, not afraid of development of these literacy skills in children, because some teachers will tell you, in all fairness to them, that these are issues that they are afraid of," he said. Mr Bannister revealed that of the hundreds of stu dents expected to graduate from COB's teaching programme next year, only two teachers are registered in the accounting concen tration, 31 in the mathe matics stream, and 18 in language and literature. By contrast, 172 students are expected to graduate from the primary education concentration next year, he said. Mr Bannister said the numbers expose the urgent need for the Ministry to find and develop more Bahamian teachers who are willing and able to spe cialise in daunting subject areas. "We get a lot of teachers who are very good students now but there are a lot of people who are top students in their schools who are being told 'become a lawyer, become a doctor' and we have to make sure that some of them also consider that education is a wonderful, rewarding and personally enriching area," said Mr Bannister, who assumed the post of Minister of Education on December 1. Prior to this promotion, Mr Bannister was the Min ister of Youth, Sports and Culture and a former Minister of Legal Affairs. Mr Bannister, a senior partner in the law firm Evans and Co, has also lec tured part-time at the Bahamas Institute of Bankers and at COB. Bannister inspects progress of Anatol Rodgers High School C M Y K C M Y K LOCAL NEWS PAGE 2, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM INDEX MAIN/SPORTS SECTION Local News.....................P1,2,3,5,6,7,11,12 Editorial/Letters........................................P4 Sports............................................... P8,9,10 BUSINESS/AR TS SECTION Business.................................P1,2,3,4,5,6,7 Comics....................................................P8 Taste....................................................P9,10 Arts....................................................P11,12 CLASSIFIED SECTION 28 PAGES USA TODAY MAIN SECTION 12 PAGES By TANEKA THOMPSON T ribune Staff Reporter t thompson@tribunemedia.net THE public school system is in the middle of a crisis, the newly appointed minister of education admitted. While acknowledging that his ministry cannot immediately solve the c omplex issues which have developed i n the county's schools over the last 30 y ears, Desmond Bannister said it is time to confront the challenges. For years the government school system has been plagued with student v iolence and gang activity, comp ounded with allegations of “social p romotion” of poor-performing stud ents. " We do have a crisis in the public e ducational system and it's an issue that we as Bahamians have to address and we have to address it head on. “Over the past three decades or so, we've created the kind of society which is causing the kind of problems that we are having now in our schools," said Mr Bannister, who insisted that there are many good things happening in the public school system as well. "The ministry cannot solve it on its own and there is no short-term fix. The most you can do is start in the right direction and so we have to start c oncentrating on school children all o ver again, we have to increase the attention to literacy efforts, reading, w riting, and we have to concentrate o n issues like character development and also social skills in young people, improving conflict resolution. "For too long we've just assumed that things are going to get better – we have to find ways to make it better – we have too many kids coming out of school who just can't read and write. "We have too many students who are coming out of primary school who are reading below grade level, they have poor numeracy skills, they are g oing into high schools and so these y oung people are coming out of school without the literacy skills which a re required by society. As a result, m any of them are frustrated and they themselves are having problems," he told The Tribune during a recent interview at the Ministry of Education. The ministry has plans to recruit a n umber of specialist teachers from t he United Kingdom early next year t o help improve numeracy and literacy skills in public school students (see page 1). It's an initiative that was envisioned under the term of former education minister Carl Bethel, who resigned inN ovember to commit full time to his p ost as FNM chairman. E ducation officials also hope to e xpand a parenting skills programme w hich was launched earlier this year as a pilot study in Grand Bahama. Mr Bannister said the programme w as met with lukewarm attendance b y parents on that island, but he hopes that if the project is expanded, more s truggling parents will enroll. New minister: public schools are in ‘crisis’ FROM page one Ministry to recruit teachers from UK E DUCATION MINISTER DESMOND BANNISTER d iscusses the completion works at the Anatol Rodgers High School. (From left i ster Bannister and contractor Randy Penn. Desmond Bannister says it is time to confront challenges HAVANA CUBA'Sofficial media lashed out at all four main candidates to become Florida's next senator Democrats and Republicans alike saying thisw eek they will do nothing t o improve relations between Havana and Washington, according to Associated Press. Republicans Marco R ubio and Charlie Crist a nd Democrats Kendrick M eek and Maurice Ferre all have voiced support for continuing Washington's 47-year trade embargo on the island, accord-i ng to an article Tuesday i n the Communist Party newspaper Granma. The paper called them part of a "Miami mafia machine that dominatest he city and North American policies toward Cuba." R ubio, the son of C uban parents, is a cons ervative former Florida House speaker who is challenging Gov. Crist for the Republican nomination. M eek is a Democratic Congressman, and Ferre is a former mayor of Mia-m i. Each candidate addressed the hardline U S-Cuba Democracy P olitical Action Committee (PAC arguing why he would bet he best to fight for democracy in Cuba. Florida is home to hund reds of thousands of C uban exiles who have left the communist-run i sland since Fidel Castro's 1 959 revolution. US-Cuba policies are one of the main issues that dominatet he state's politics. While many CubanAmericans favor a hard l ine approach to the island, polls indicate a growing number support efforts to improve rela t ions. C UBA: Havana says all four Florida Senate candidates will be badf or relations with US

PAGE 3

By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net THE distribution of mobile finger-printing and electronic signature machines will make it easier for Family Island resi dents to apply for digital pass ports in the new year. Minister of National Security, Brent Symonette, said the government is on track to implement the mobile enrolment sys-tem in the Family Islands begin ning in January. The system will enable Fam ily Island residents to submit passport application forms with their fingerprints and digital sig natures remotely. During several weeks of live testing, Prime Minister Hubert Ingraham served as a test subject, being enrolled for his new passport using the mobile system. Once the system is on stream, the government intends to send passport officers to the Family Islands, including those without government offices, such as Spanish Wells. Also set to come on stream in January are online applications, said Mr Symonette. Bahamians will be able to apply for their passports over the Internet, meaning the entire process willr equire two visits to a passport office instead of three. Since the government initiated the change-over to digital passports two years ago, more than 20,000 people have been processed. The government is strongly encouraging Bahami ans to meet the May 2010 dead-l ine. At that time, the govern ment will cease to renew the old non-machine-readable passports – even in emergency cases. “At this moment, the pass port office is doing very well. We are happy with the delivery time, even though some experience a few problems. As time goes on, it will be more difficult for Bahamians to use the old passport,” said Mr Symon ette. “We are encouraging Bahamians to use the opportunity to apply early. Do not wait until the summer, when there will be a rush on the office,” he said. O nce a new digital passport is issued, the applicant’s old passport is cancelled. All foreign visas in the old passport remain valid until their date of expiry. Based on the international system of machine readable passports, international airports will eventually stop acceptingt he old Bahamian passports, said Mr Symonette. He pointed to the subtle changes already occurring in international airports, such as those in the United States. Trav ellers are channeled into self check-in lines that require a digital passport to be swiped and read by a machine. Manual check-in by agents is becoming obsolete. While old Bahamian pass ports will remain valid as long as they have not expired, Mr Symonette said governments internationally are onboard with the digital system and it is at their discretion to chooseo r refuse to accept nonmachine readable passports at any time. C M Y K C M Y K L OCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Mobile machines on track to improve passport applications By ALISON LOWE T ribune Staff Reporter alowe@tribunemedia.net A S POLICEcontinue their investigations into the disappearance of ag un from a Defence Force vessel, t he Minister of National Security has warned that all 14 officers onboard at the time could be disciplined if no explanation of its whereabouts is forthcoming. The officers were confined to their ship – the Guanahani – for several d ays over the Christmas period, b efore being placed on continued l ockdown at the Coral Harbour b ase, as police were brought in as p art of an effort to locate the w eapon. Yesterday a senior police officer declined to comment on the status of the Central Detective Unit’s investigation into the matter, adding only that it is ongoing. Minister of National Security Tommy Turnquest said the officers h ave “a certain time-frame in which to answer” inquiries as to the location of the gun or how it came to d isappear, or all will face disciplinary action. Patrol T he gun was found to be unacc ounted for while the officers were o n patrol in the Ragged Island area before Christmas. Mr Turnquest said unlike police g uns, the weapon would not have been assigned to a particular officer, but rather there would have been a certain number of guns s igned out for that particular patrol mission. Asked yesterday if he is supportive of the decision to keep the officers confined while investigations continue, Mr Turnquest said: “What I am supportive of is all firearms being accounted for. “We have in place a management t eam responsible for the RBDF and they’re to follow established procedure and when they don’t then we k now what to do. We have an unacceptable crime l evel and we have large numbers of illegal weapons out there so until we find it we’re not satisfied,” said t he minister. Asked exactly what type of gun i s missing, Mr Turnquest said he is not sure. He said that he is not aware of any other RBDF weapons g oing missing in recent times. “I know it’s a firearm and from m y point of view that’s serious enough that it has to be found,” he said. Defence Force officers warned over missing gun T HE BOATERS who l ost their lives when t heir boat capsized in Exuma have been identified by police as brother and sister Charles and Marilyn Morley. C harles Morley, 51, o f Grand Bahama and his sister Marilyn, 45, a resident of George Town, Exuma, were out fishing on a 12-foot C arolina Skiff with a nother woman when their boat overturned in the Fowl Cay area at around 11.30am on Saturday. Passing boaters rescued the woman, who h as not been identified b y police, and the lifeless bodies of Mr and M iss Morley were f ound nearby. O fficers investigating the incident say the trio had set out on their f ishing trip from an area known as the Cott age in Exuma and were capsized by swells near Fowl Cay. Boaters who died in Exuma are identified IN THE report on the stabbing death of Terrone Albury as he tried to break up a fight at an Eleuthera nightclub in the early hours of Monday morn ing, The Tribune stated that Mr Albury was the grandson of the late Rev Cladwell Armbrister. This is incorrect, including the reverend’s name. The man being held by police for questioning in connection with the stabbing death of Mr Albury is the great grandson of the late Rev Cladwell Farrington, a well respected religious minister at Eleuthera. Rev Farrington was not related to the homicide vic tim. CORRECTION THE Bahamas has successfully concluded Tax Information Exchange Agreement negotiations with 23 countries to-date, and the governmentsays it expects to exceed the OECD’s required minimum of 12 signed agreements by the March 2010 deadline. To-date, the Bahamas has signed 10 TIEAs with the following countries: the United States of America, Monaco, San Marino, the United Kingdom, New Zealand, the Netherlands, the People’s Republic of China, Argentina, Belgium and France. TIEA negotiations have been successfully concluded with Germany, Canada, Spain, Mex ico, Australia, South Africa, South Korea, and the seven Nordic countries of Norway, Sweden, Finland, Denmark, Iceland, Greenland and the Faroe Islands. The government said these countries will formally sign agreements once they complete the internal procedures required for the signing of treaty instruments. Said the government in a statement: “It is to be noted that the Bahamas is actively partici pating in the international dialogue concerning the regulation of international financial services.” It noted that in September of this year, the Bahamas was elected to membership of the OECD Peer Review Group; a group comprising members of a re-vamped OECD Global Forum. The Peer Review Group is responsible for developing a programme of peer reviews to monitor progress of the implementation of the tax information exchange standards among the 90plus members of the OECD Global Forum. “The government is committed to safeguarding this important segment of the Bahamian economy by ensuring that the Bahamas remains a well regulated jurisdiction which meets evolving standards for offering international finan cial services,” the statement said. The Bahamas concludes TIEA negotiations with 23 countries Minister says all 14 onboard vessel could be disciplined if no explanation given TOMMYTURNQUEST

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EDITOR, The Tribune. There is an article in the Economist (December 12tha bout America’s public-sector workers being coddled and spoiled. T his it points out is no longer economically or politically acceptable and some thing has to be done. This, of course, applies to most countries and the Bahamas is no exception. There is a huge surfeit of public sector employees in most countries who are eating up the resources and those who are the producers no longer have the abili ty to produce enough to pay f or the non-producers (ie public-sector employees). The unfortunate part a bout this is that because the public sector employees are as it says, coddled and spoiled, and unless politicians have the will to correct this nothing will hap pen. Public sector employees generally have guaranteed employment and guaranteed pensions that the private sector employees do not. Yet their performance is grossly inefficient and complaints about their attitude are legion and now I am talking about the Bahamas. Phones are not answered, letters and faxes are not answered and agreements are not adhered to. Of course there are always oasis of efficiency among the group but few. Here for example we wit ness customs officers who a re indicted for fraud and of course they may be innocent but obviously the govern m ent does not think but is afraid to take them to court. So instead they give a very bad example to the others as some are retired with full pensions. Where is the political will? There are many examples around the world of this and it is about time that we all collectively said enough is enough and we would like to welcome the public sector employees to the Real World – or cut bait and get out of the boat, I think the saying is. PATRICK H THOMSON Nassau, December 20, 2009. EDITOR, The Tribune. Amongst the fine selection of international films the Bahamas International Film Festival (BIFF this year was a feature Bahamian film written and directed by Kareem Mortimer (intriguingly entitled ‘Children of God’) that drew the larger audience at the Galleria venue. Like many Bahamians I wanted to see what this film was all about especially engaged as I was by the write-up it received in the brochure. “Children of God is the religious concept that human beings are regarded by God as His children and is used by Christians to refer to human divinity.” The first part of this one might understand as the way a genuine Christian would view all true brothers and sisters in Christ we’re all “children of God” if we take Christ for our personal Saviour. But the latter part of that statement the bit about “human divinity” – is not so much a Christian as a New Ager’s claim. We’re further told that the film’s protagonists work through their lives’ dilemmas against “a backdrop of a nation grappling with violent homophobia (fear of homo sexuality)” by journeying to freedom-promising Eleuthera where the paths of the two protagonists cross significantly in a church sponsored townhall-type meeting. The issue is the nascent if not already rampant wave of homosexuality becoming evi dent in the country as in much of the dominant culture next door (the US The feeling one has regard ing the youthful artist’s timid “closeness” is that he’d have been more at home dealing with his dilemma in the 60s in the US with its wildly care free ethos of sexual experim entation and that his journey of self-exploration in Eleuthera would reveal his and his friend’s nascent homosexuality. The concern of the older generation has two majors pokes-women the middle aged mother of a pubescent lad whose husband has homo-s exual liaisons which she’s only just begun to suspect. She sees the only way to try and save her marriage is by getting her husband to join her in Eleuthera for the campaign to bring this social problem to the Government’sa ttention. The other is the Nassaubased mother of the other Bahamian youth in Eleuthera playing with a band but also exploring the limits of relationships, uncertain as he is of his relationship with his girlfriend back in Nassau. I hadn’t anticipated the explicitness and courage with which the “violent homophobia” referred to in the writeup would be dealt with by Mr Mortimer but the homosexu ality-related murders that occurred a year or two ago have clearly put the phenomenon front-and-centre in the minds of many concerned Bahamians. There was also explicit reference to the general Bahamian concern that the Bahamas not become a prime destina tion for “alternative lifestyle” (homosexual something that also was part of the dawning national consciousness of this problem a few years ago. The explicitness of its treatment certainly accounted for a significant percentage of the audience (especially parents leaving quite early in the film presumably anxious that their children not be corrupted by the goings on in the film. It would seem that Mr Mortimer intuits very realistically how sensitive and emotionally charged an issue he has broached in this film by having his timid “hero” get enough courage by the end of the film not merely to question why people are making so much of the whole matter (homosexuality hall meeting but to actually confront one of the local bullies and taunt him by alluding to his homophobia. To be called a “sissy” publicly in front of his bully pack of friends was the straw that broke the camel’s back and the pent-up emotion explodes on him and to his terrible cost. Mortimer’s film has some of the quality of that taunt, chal-l enging this society to look a lot more closely at itself in its self-examination. All we can hope is that the societal response to his challenge isn’t as violent. B IFF has once again demonstrated that it is the film festival with a distinct difference it includes films (both short, documentary and feature length) that boldlyf ocus on certain very emotionally disturbing issues (a few years ago the focus was on the atrocious tradition of female circumcision). By focusing our attention on these it is hoped that some greater awareness and understanding (if not outright resolutions) of these issues may be achieved. Ms Vanderpool has indeed made a significant contribu tion to this society not merely its entertainment but its edification. CONCERNED Nassau, December 21, 2009. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, WEDNESDAY, DECEMBER 30, 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 JUST AS fish vendors were allowed to s quat on the Montagu foreshore with no one paying attention to them until they became an undesirable problem, so also will s ome property owners on the Eastern Road d evalue the area if their commercial practices are allowed to continue. Now is the time for decisions to be made. Whatever laws exist should be enforced and where l aws are still needed to plug the loopholes, they should be drafted. At one time our zoning by-laws were taken seriously. Anything east of the Montaguf oreshore was residential. An earlier generation of Bahamians would laugh and say that the Eastern end of the island the healthier end was reserved for Bahamians while the swampy,m osquito-infested west was sold to the unsuspecting foreigner. Over time thes wamps were filled in; as a result there were fewer mosquitoes. The west eventually became as desirable as the east. The late Sir George Roberts, president of the Legislative Council, moved his family f rom their Village Road residence, to a new home that he had built on a magnificent hill t op waterfront site on the Eastern Road. It was next door to the late Sir Asa P ritchard, Speaker of the House of Assem bly, who had as his neighbour the historic Hermitage, built by Lord Dunmore as his residence between 1787 and 1796, bought in 1932 by Cardinal William O’Connell, A rchbishop of Boston, and now owned by the Catholic Archdiocese. It is the residenceo f Catholic Archbishop Patrick Pinder. Sir George and Lady Robert’s home and g ardens were considered among the most elegant on the Eastern Road, so much so that the family had to put up iron gates to prevent taxi drivers from including “Lucky Hill” in their guided tours. Since the death of Sir George and Lady Roberts the estate has passed through many h ands. It is now owned by a Londoner, and, a ccording to an advertising teaser on Face book, a peaceful residential area has turned commercial. Recently it was advertised as a one night event of a Red Eye tour that claimed it took in three cities, three parties, one event, one night. T hat one night was December 27th at what was described as “Lucky Hill Man s ion.” The one night stand shattered the peaceful, upper class neighbourhood with r aucous music until after 4 o’clock in the morning, leaving on the Eastern Road the n ext day a wasteland of styro foam cups, paper plates and offensive litter. To say residents of the Montagu-Eastern Road foreshore are angry would be an understatement. Not only are they angry, but they intend to do something about it. The police have been contacted. Their MP has been notified and our e-mail is overl oaded with residents’ complaints. It is not clear what type of service is being offered by the entertainment company, but i ts advertisement says its flight takes off at 1 2.27, boarding time 9pm however, it fails to say where one is to board the aircraft. In its video it sings of flying direct to South Beach in Miami, taking in New York and K ingston, and ending Sunday night with the big event at “Lucky Hill Mansion.” Coach class tickets for $25, as well as pre-sold class tickets were available. The advertisementl isted Business Class and First Class. So whatever it is, it is a money-making com mercial enterprise. Unfortunately the imaginative entrepreneur chose the wrong location on which to establish his money-maker.I t succeeded in destroying a peaceful Sunday evening with offensively loud music ande qually offensively loud party-goers. Residents alerted their MP Loretta Butler-Turner on the eve of the event to try to head it off before it started. Mrs Turner wrote immediately to Asst Supt Ismella D avis, Officer in Charge of the Fox Hill Police Station, sending her the link thata dvertised the event so that she would be aware of “what one of the finest Bahamian r esidences on the Eastern Road is being used for.” Her letter continued: “They plan to party until 4am and there is a cover fee begin ning at $25. This is a residential area not zoned for commercial activity. This residence has been used for similar events in the past and created quite a lot of d isturbing noises for the surrounding neigh bours and areas. “I have already contacted the Fox Hill Police to alert them and to see if they will shut this down before it even starts,” Mrs Turner’s letter continued. “This is a small step in ensuring that laws are respected and o bserved in our communities.” Mrs Turner said yesterday that ASP D avis told her that she had the party plan ners into the police station and told them that if they violated the noise level and cre ated traffic congestion, the police would close the party down. According to the emails we have received residents claim that both were violated. M rs Turner than asked ASP Davis to call the owners of “Lucky Hill” to discuss their p lans for the property. Mrs Turner is now concerned that she has heard no more from A SP Davis. It would be interesting to know if the o wners got a commercial licence to hold this party on the Eastern Road, and if so who would have been so slow-witted as to have granted it. It is now up to residents and their MP to end these parties if only to maintain the high standards of the eastern end of the island. BIFF film boldly tackles emotionally disturbing issue LETTERS letters@tribunemedia.net Commercial party in residential area WE WILL BE CLOSING AT2:00pm Thursday December 24 & Thursday December 31PLEASE NOTE WE WILL BE CLOSED Saturday Dec 26, Monday Dec 28 and Saturday January 2, 2010 in order to give our sta a well-deserved rest.Wishing everyone a very Merry Christmas & thanking you for your patronage throughout the yearMackey Street 393-8165 To advertise in The Tribune Call 502-2394 W elcome to the Real W orld EDITOR, The Tribune. Bahamianizing The College of The Bahamas (Front Porch By Simon Nassau Guardian, Tuesday, November 22, 2009) provided food for both intellectual and, perhaps, future gastronomic consumption. Noting that both (Bahamian franchise-owned which “did not seem the right fit” and Sbarro “retired” from The College of The Bahamas before President Janyne Hodder, Simon suggested that Bahamian entrepreneurs such as Julie Hoffer (of Passion Tea and Coffee fame Elaine Williams Pinder, the “extraordinarily entrepreneurial spirit behind and owner of Bamboo Shack”, be per suaded to replace the “foreign implant(s Acknowledging “legitimate questions as to whether Mrs Hodder was the appropriate choice to head COB” includ ing her not having a doctorate, which was “more than sym bolic ...especially with university status on the horizon” Simon said she could boast of a number of accomplish ments, and many were “grateful for her service and wish her well in her future endeavours.” During Mrs Hodder’s tenure, on May 26, 2009, following a $3.3 million renovation of its Oakes Field Campus audi torium, COB opened a high-tech Performing Arts Centre. Perhaps in the not-too-distant future, in light of the uncer emonious departure of the now-outgoing Mrs Hodder’s predecessor, COB will get its own act together. Merry Christmas. SIMON ARTZI Nassau, December 22, 2009. A Bamboo Shack for COB

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C M Y K C M Y K L OCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net THE legacy of Bahamia n scholar and Pan-African a ctivist Thaddeus McDona ld is living on in the work of young Bahamians, who are organising a Kwanzaa celebration this holiday s eason. K wanzaa, the Swahili w ord for “first fruits”, is a c ultural holiday celebrated i n the African Diaspora to c oincide with harvest celeb rations in Africa during the same season. It was developed by the African A merican community in the United States during t he 1960s as a celebration of family, community and c ulture. F estivities around the globe run from December 2 6 to January 1. This year, Rhonda Wright, Director o f Seedlings Place, a support group for persons living vegan and vegetarian l ifestyles, is organising a social event on December 3 1. She is extending an invitation to those who for-m erly participated in Dr McDonald’s activities. I attended his event about three years ago. There was a feeling of unit y. It was an uplifting feeling to be able to experiencea part of our African her itage and culture in Nassau a t the first time, for me, at t hat level. It was good to see and experience our elders in that leadershipr ole,” said Mrs Wright. F or the past two years M rs Wright hosted a small family event. S he said it was important t o her to bring together the A frican community in the Bahamas to carry on the tradition championed byD r McDonald and others. Her intention is to grow the event into a nationally recognised annual celebration. Dr McDonald was brutally murdered three years a go, just two months before h is planned annual cerem ony that involved drumming, libation, and feast i ng. He was known for organising various activities, including pilgrimages toA frica, in order to foster A frican consciousness in the Bahamas. His brother, Madison M cDonald, said he was h appy to know Bahamians were carrying on the tradit ion, knowing how enthus iastic his brother was a bout conducting the event every year. Rhonda Chipman-John s on, Vice-president of Academic Affairs at the College of the Bahamas, where Dr McDonald worked, said she was looking forward to attending the event the year Dr McDonald died. It was a celebration of o urselves as black people: T he whole idea that we have to be proud as black p eople. I think that is what he celebrated throughout his life. It was a learning experience for all and It horoughly enjoyed it. I was p lanning to go the year he died, but I guess it just wasn’t meant to be,” said Dr Chipman-Johnson. K wanzaa is not an Afroc entric version of Christm as, despite popular misconceptions. It is a non-religious holiday celebrated by over 40 million people of African descent around the world. This was the mes-s age delivered in T he Black C andle: A Kwanzaa Celeb ration, a n award winning n ew documentary directed by 27-year-old MK Asante Jr and narrated by Maya Angelou. The documentary highlights the meaning and principles behind the festival and how it is celebrated a round the globe, includi ng in the Caribbean. Kwanzaa is centred a round seven core African p rinciples: U moja(UnityKujichagulia(Self-Determination), U jima(Collective W ork and Responsibility), Ujamaa (Cooperative Economics), N ia(PurposeKu umba(Creativity andImani(Faith “We want to continue the celebration to be able to b ring our African brothers a nd sisters in the Bahamas t ogether to celebrate on common ground regardlesso f your religious or spiritu a l persuasion. It is an acknowledgment and celebration of our ancestry andu s as black people, recog nising what we have accomplished over the year, cele brating our harvest and w hat we will reap in the next cycle,” said Mrs Wright. Interested individ u als can contact organisers a t s eedlingsplace@gmail.com. Legacy of Thaddeus McDonald lives on in Kwanzaa celebration A BRAND new Bahamian book has been launched this holiday season and the distinguished author was on hand last w eek to sign copies at Logos Bookstore in the Harbour Bay Shopping Centre. From Rose’s to Mount Fitzwilliam is the memoir of Dame I vy Dumont, seventh governor general of the Bahamas and the first woman to occupy this elevated post. DAME IVY DUMONT HOLDS BOOK SIGNING CUSTOMERS stand in line to purchase former governor general Dame Ivy Dumont’s book, Rose’s to Mount Fitzwilliam, at Logos B ookstore. SENATOR ALLISON MAYNARD-GIBSON talks with Dame Ivy Dumont during the book signing . I I t t w w a a s s a a n n u u p p l l i i f f t t i i n n g g f f e e e e l l i i n n g g t t o o b b e e a a b b l l e e t t o o e e x x p p e e r r i i e e n n c c e e a a p p a a r r t t o o f f o o u u r r A A f f r r i i c c a a n n h h e e r r i i t t a a g g e e a a n n d d c c u u l l t t u u r r e e i i n n N N a a s s s s a a u u a a t t t t h h e e f f i i r r s s t t t t i i m m e e , , f f o o r r m m e e , , a a t t t t h h a a t t l l e e v v e e l l . . I I t t w w a a s s g g o o o o d d t t o o s s e e e e a a n n d d e e x x p p e e r r i i e e n n c c e e o o u u r r e e l l d d e e r r s s i i n n t t h h a a t t l l e e a a d d e e r r s s h h i i p p r r o o l l l l . . R honda Wright, Director of Seedlings Place

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C M Y K C M Y K LOCAL NEWS PAGE 6, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM POLICE are investigating two armed robberies that occurred in New Providence yesterday. Around 2.08 pm yesterday, police received a report of an armed robbery at Tippy's Liquor Store in the Pinewood Gardens subdivision. An employee told responding officers that two dark-skinned males, dressed in dark clothing, both armed with handguns, burst into the store and demanded cash. The liquor store and several patrons, who were in the store at the time, were robbed of an undetermined amount of cash. The gunmen fled the scene travelling east on Sapodilla Boulevard in a white hatchback style Suzuki, license plate number 85679. Hours later, around 6.14 pm yesterday police received information of an a rmed robbery at the Oakes Field Shopping Centre. Gunpoint Two employees of an undisclosed business told police they were about to make a company night deposit at a bank in the shopping centre when they were robbed at gunpoint by two dark-skinned men. The men, dressed in dark clothing and wearing ski masks, were armed with handguns. The suspects managed to escape with a company deposit bag containing an undetermined amount of cash. The employees reported that the gunmen fled the area in an old model gold coloured Nissan Altima. Last night police urged anyone with information about these robberies to come forward. Police investigations continue. Police probing two armed robberies

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TARPUM BAY, ELEUTHERA– Saturday, December 12 marked the first ever Farmers Market in S outh Eleuthera and all i nvolved agreed that the e vent was a huge success. The market was held at the Emergency Operations Centre of SEEP (South Eleuthera Emergency Partners) from 10am to 1pm and more than 150 people s trolled through to shop during the beautiful sunny day. T he goal of the market was to showcase farm-grown products and locally handmade crafts available in E leuthera. Known once as the breadbasket of the Bahamas, Eleuthera is prod ucing less and less produce a nd relying more on i mports, which threatens food security on the island. T he Island School partn ered with two non-profit organisations, the Cape Eleuthera Institute and Island Journeys/SEEP, to change this trend. “We are really thrilled with the success of this first m arket,” said Shaun Ingrah am, director of SEEP and Island Journeys. “People are a lready asking if we can h ave one next week so there i s an obvious need and opportunity here.” The market celebrates the production of “Made in Eleuthera” food and crafts and encourages the growth of local sustainable agriculture. The individuals and busi nesses that participated included: Bishop DanN ixon, Lucille’s Bakery, Coco Plums, Rosey’s Creations, Gracefully Creations,N ature Boys Nursery Charles Strachan Straw World, DJ’s Bottled Toma toes, Debra Moxey’s Ceramics, Philip McPhee and Collective of Farmers of Tarpum Bay. F undraising and awareness activities included tshirts sold by SEEP and the C ape Eleuthera Institute ( CEI); and CFLs, fish poop fertiliser and flyers about conservation and saving money at home, distributedb y The Island School. “This farmer’s market is a great opportunity for us to C M Y K C M Y K L OCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM South Eleuthera’s Farmers Market a huge success CHARLIE STRACHAN’S straw work. SEE page 12 ORNAMENTS on sale. LOCALLY grown pumpkins, p roduce and bottles of sour. P h o t o s b y A n d r e a W h i t t l e

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C M Y K C M Y K WEDNESDAY, DECEMBER 30, 2009 THETRIBUNE PAGE 8 INSIDE Sportsability Bahamas TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM LYNDRICK Storr evades the Cherubims defence with a mid-air pass in the Pacers 53-34 win yesterday at the Providence Holiday Classic. A S THE Providence Holid ay Classic winds down and moves into its final day, teams made late surges toward tonight’s title run. The Pool Championships w ill get started today at 9am with the consolation third place game at 7pm, followed b y the championship game at 8 :30 pm. U SA SELECT – 62 CC SWEETING COBRAS – 48 Featuring a duo of B ahamian players in the f rontcourt and another with Bahamian roots orchestrating the action at the point, the H ouston, Texas-based squad continued to plough their way through the competition. D anrad Knowles finished with six points, nine rebounds and four blocks, Eleuthera native Alex Cooper added 10 points, seven rebounds and two blocks and sensational point guard added 16 pointsa nd five assists to lead the Select team. Henry Riosco scored the g ame’s opening basket for the S elect team, but the Cobras responded with a 14-1 run to take a commanding leadb efore the Selected Squad closed the quarter with a pair of late field goals. T he Cobras’ lead grew to as much as 14 in the second quarter when Angelo Lockhart dished an assist to Gabi L aurent in traffic to give his t eam a 20-8 lead with 2:43 left t o play in the half. Riosco who finished with a team high 17 points, foreshadowed what was to come in the second half when hes cored the final six points of the half to make the score 241 6. I n the third, Rose, the son of Bahamian basketball legend Lynden Rose, and top r anked point guard for the r ecruiting class of 2012, asserted himself on the offensive end. H e opened the quarter with a three, and his second shot from long distance tied the g ame at 24. A ndre Prince’s fast break l ay-up gave the US team their first lead of the game. P rince followed with a three on the ensuing possession and Rose capped the runw ith a highlight reel assist to Knowles which thread the needle between the legs oft wo defenders. Cooper scored the US team’s sixth three pointer of the quarter to give his team a 3 9-27 advantage. With Lockhart penetrating a t will and Laurent, who fini shed with a game high 18 p oints dominating in the paint. The US team outscored the Cobras 25-13 in the quarter to take a 41-37 lead into thef inal period. Patrick Davis scored two of h is 10 points to open the quart er and pull the Cobras within two, but Riosco responded with a three pointer and s parked another run. P rince gave the Select team a 52-42 lead on a breakaway lay-up with 3:14 left to play. R ose thrilled the crowd over the game’s final few minutes, routinely dribbling b etween full court traps and m aking a trio of three pointe rs late in the game to pull away for the final score. RM B AILEY P A CERS – 53 TELEOS – 34 Leading by just one at the h alf, the Pacers dominated the final two quarters to pull away late for the lopsided win. USASelect tops Cobras SEE page 10 Pacers beat Teleos 53-34, tourney moves into final day T i m C l a r k e / T r i b u n e s t a f f

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By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net A WIMBLEDONmixed doubles title and appearances i n the final of the both the men’s singles at the Aus tralian Open and the US O pen enabled Mark Knowles t o surge to the top of the chart as The Tribune’s Male Athlete of the Year. I n a year that saw two track and field athletes fall shy of winning a medal at the 12th IAAF World Championships i n Athletics and two professional boxers missed out on their opportunities to winm ajor international titles, Knowles was steady and con sistent in his performance on t he ATP tennis tour. The highlight of the year for Knowles came in July when he and German AnnaLena Groenefeld teamed up to win their first Wimbledon mixed doubles title. Knowles, 38, has now inked his name on all four Grand Slam titles, although he and his men’s doubles partner Mahesh Bhupathi from India missed the opportunity to cash in on another crown at the Australian Open in Janu ary and the US Open in September. In April, Knowles and Bhupathi also reached the final in Barcelona, but they were unable to pull through. Their only victory came at the Rogers Cup in Montreal, Canada. As a result of failing to win the big ones, Knowles and Bhupathi have severed ties after playing together for thepast two years. Knowles will now team up with American Mardy Fish, whom he part nered with to win a title in Memphis. ii. Fresh from winning the Olympic Games’ bronze medal a year ago, Leevan ‘Superman’ Sands came within .4 inches of returning to the podium at the 12th IAAF World Championships in Athletics in Berlin, Germany in August. Last year’s Male Athlete of the Year slipped to number two when he got dropped from the bronze medal spotby Cuban Alexis Copello in the sixth and final round of the final. Sands, who celebrated his 28th birthday on the day he qualified for the final, bounced back at the IAAF/VTB Bank World Athletics Final in Thessaloniki, Greece in September with a silver medal. S ands eventually finished the year with the tenth best mark on the IAAF chart. iii. Chris ‘Fireman’ Brown p ainfully remembered how American David Neville dived across the finish line to d eny him a chance to celebrate with an Olympic bronze medal last year. A t the World’s, Brown was i n an unique position to redeem himself, only to once again be shut out when he e nded up in fifth place in the men’s 400 final. Brown, 31, had to settle for t hird place on this year’s Tribune voting list, although he too stormed back at theW orld Athletics Final for a silver medal. The national record hold er and national champion had the tenth best time all season of 44.81 seconds. iv. Ramon Miller closed out his two-year sting at Dickin son State by repeating as the NAIA Indoor 200/400 champion as well as the outdoor champion to secure the fourth spot. Miller, 22, came home and took Brown to the line in placing second at the BAAA’s Nationals before he went to the World’s and was just shy of reaching the final of the 400 when he posted a personal best of 44.99. That time put Miller 16th on the IAAF’s list, even though he trailed newcomer Latoy Williams (NJCAA indoor bronze medallist and outdoor champion), Brown and Andrae Williams. Both of the Williams from Grand Bahama got injured and was never able to show their true colours. v. Under new management, Meacher ‘Pain’ Major round ed out the top five Tribune’s list with the three fights he had at the Convention Center in Buffalo, New York. The 28-year-old lightweight opened up with a sixth round technical knockout over American Kevin Carmody on February 20. Four months later, he returned to the Big Apple where he and Ameri can Michael Clark ended up with a “no contest” result. Apparently, Clark was unable to finish the bout for the vacant NABA lightweight title two minutes and 14 seconds into the first round due to an accidental foul. But after a protest lodged by his management team, Major was awarded the title and he was elevated to num ber 15 in the WBA ranking. Then in November, Major d efended the title against American Dorin Spivey, only to be TKOed 52 seconds into the fourth round. H onourable mention goes to NBA Developmental League players Bennet Davis a nd Mitchell Johnson; golfers Lemon Gorospe and Keno Turnquest; bodybuilders JoelS tubbs and James ‘Jay’ Darl ing; Latoy Williams and Andrae Williams; hurdler Shamar Sands; boxers Jerm aine ‘Choo Choo’ Mackey and Sherman ‘the Tank’ Williams; Davis CupperD evin Mullings; swimmer Vereance ‘Elvis’ Burrows; softball pitcher Edney ‘theH eat’ Bethel and volleyball player Renaldo Knowles. C M Y K C M Y K SPORTS TRIBUNE SPORTS WEDNESDAY, DECEMBER 30, 2009, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Knowles is Tribune Sports’ Male Athlete of the Year MARK Knowles surges to the top of the chart as The Tribune’s Male Athlete of the Year.

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C M Y K C M Y K SPORTS PAGE 10, WEDNESDAY, DECEMBER 30, 2009 TRIBUNE SPORTS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 1 27,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 1 27,&( ROXQWDU\/LTXLGDWLRQf 1 RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ W GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX % DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf B y AVA TURNQUEST aturnquest@tribunemedia.net THE ACTIVE leisure community can look forward to an ew annual sports festival promising to unite and sensitise Bahamians towards the disabled community. Sportsability Bahamas will be a joint venture between A dventures Unlimited B ahamas and the Florida Disa bled Outdoors Association. T he team officially presented their intent to Minister of S tate for Youth and Culture Charles Maynard yesterday and have been guaranteed government support in their endeavours. P resident of Adventures U nlimited Bahamas Jerome T hompson was the first blind Bahamian to sail around New Providence. Mr Thompson n oted that it was this experience and those of its kind that formed the ‘bedrock’ for hiso rganisation. The event will feature indoor and outdoor activities such as art experience and dancing, basketball, martial a rts and laser tag shooting, combined with a resource e xpo with information booths on the latest products, active l eisure programmes and disa bility services. Sportsability is a multi-day event locale to Florida that is tailored towards accessible inclusive recreation and active leisure for all persons. This willb e the first time the event will be held internationally. FDOA President David Jones maintained: “People with disabilities are just thatpeople. They have the same n eeds and desires. We are e xtremely honoured to be a part of this wonderful oppor t unity. ” T he festival is set for September 2011 and will afford both the disabled and abled community access to therapeutic recreational programmes. We want to chop down some hills in the psyche of Bahamians,” added Mr Thompson. “I want to see us become more sensitive. This will not be a one time thing.” T he event welcomes both p rivate and public sponsorship. Sportsability Bahamas set to become new annual sports festival PRESIDENT of Florida Outdoors Association David Jones (right and President of Advetures Unlimited Bahamas Jerome Thompson m eets with the press and the Minister of Youth Sports and Culture y esterday to address some upcoming events. T i m C l a r k e / T r i b u n e s t a f f ANDREW Forbes loses the ball among a crowd of defenders The Pacers led 22-21 at the half but outscored the Cheru-b ims 31-13 in the second half t o advance. RM Bailey opened the third on an 8-2 run with an efficient 6-6 performance from the line led by Stephen Strachan Jr. After he sat half of the first q uarter and the entire second, S trachan forced the issue in the third and scored both at the line and beyond the arch. Strachan’s baseline three pointer with just over a minute left to play in the quarter gavet he Pacers a 38-30 lead headed into the fourth and gave him 11 points in the quarter. The Pacers took their first lead of double figures on a putback by Dshon Taylor for a 4 0-30 advantage. With a defense that held the C herubims to just one field g oal in the quarter, the Pacers f orced a series of turnovers w hich translated to easy baskets and a balanced scoring attack. Strachan finished with a g ame high 13, Andrew Forbes a dded 11 and Taylor added 10. Renaldo Smith led the Cheru bim’s with 10 and Spencer L ewis added nine. USASelect tops Cobras FROM page eight T i m C l a r k e / T r i b u n e s t a f f I I N N S S I I G G H H T T For the stories behind t he news, read I nsight o n Mondays

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C M Y K C M Y K L OCAL NEWS T HE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM quish his seat in favour of an appointment on the Bench. However, as sources within the FNM have pointed out, such a movew ould not be politically empowering f or the party as it would still have to go o ut and win the Elizabeth seat the MP would have had to relinquish. Therefore, the source said, it makes profound sense for the MP to use the political currency he has to barter for whatever post the government canm ake available to him in return for h is seat. “The PLP is actively campaigning an individual in Elizabeth so they can hardly expect the man to believe thatt hey want to talk,” the source said. Leaving to go to the judiciary makes absolutely no sense because the country is not able to handle a by-election at this time. And if he wantst o send a strong message to some on his own side, what better place to make it from but the other side?” he laughed. Currently there is a committee that has been formedb y the PLP’s National General Council (NGC and speak with Mr Adderley to ascertain whether the MP intends to leave the party for the FNM. This committee, which is chaired by P LP Deputy Leader Philip ‘Brave’ D avis, includes other party names such a s the PLP’s Leader of Opposition Business Obie Wilchcombe and former Senator Sean McWeeney. However, after numerous a ttempts by committee members to meet with the MP, it is claimed that Mr Davis has now had to formally write to Mr Adderley who up to this time was “hard” to catch up with. W hile this came as news to some within Mr Adderley’s camp, a source close to the MP said he was quite surprised that their efforts had failed as the MP was quite “easy to access.” A s it is well known within in the P LP, Mr Adderley has been very vocal a bout the “mistreatment” he claimed he endured under party leader Perry Christie. At the time, it was reported that Mr Adderley had been promised thep ost of Attorney General prior to the PLP’s 2002 election. However, upon gaining the government, Mr Adderley was reportedly called into the then PM’s office and offered the post of Speaker of the House of Assembly. After an exchange of “heated” w ords, it is alleged that Mr Adderley was then offered the post of Chairman of the Water and Sewerage Board a position he also turned down. Following the PLP’s loss at the polls in 2007, Mr Adderley took up the posto f Chairman of the Gaming Board u nder the FNM government, a posit ion he continues to hold. ing the officer in question is in stable condition at the Princess Margaret Hospital and that the injury is not cons idered to be life threatening. T he police said the matter “appears to be an accident which occurred during a rou-t ine shift change” but added that investigations continue. P OLICELEAVE t he prison yesterday. Felip Major / Tribune staff wrote, adding that millions o f shareholders were affected. " Our analysis makes clear that while having a celebrity of Tiger Woods' stature as an endorser has undeniable upside, the downside risk iss ubstantial, too," Stango, a professor at the UC Davis G raduate School of Management, said in a statement released with the study. Woods, believed to be the world's wealthiest athlete who was estimated to earn about $100 million a year ine ndorsements before his t roubles, confessed on December 11 to "infidelity" to his Swedish wife Elin N ordegren. He announced h e would take an indefinite break from golf to try to save h is marriage. Some of the star golfer's main commercial sponsors have backed away from him as a result of the scandal. O thers, while standing by him, have said they are eval u ating their future relationship. Tiger Woods FROM page one Share your news T he Tribune wants to hear from people who are making news in theirn eighbourhoods. P erhaps you are raising funds for a good cause, campaigning fori mprovements in the area or have won an award. If so, call us on 322-1986a nd share your story. ( AP) MPMalcolm Adderley ‘is contemplating joining FNM’ F ROM page one Prison officer accidentally shot on duty FROM page one MALCOLMADDERLEY

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C M Y K C M Y K LOCAL NEWS PAGE 12, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM share more about our conservation goals and to encourage people to eat and buy more locally,” said Karla Cosgriff of CEI. “We hope the market expands to include more vendors and can be used to educate people on the possibilities of sustainable food production in Eleuthera.” Currently the event is scheduled for the last Saturday of each month with the goal of more markets during peak agricultural seasons. The Island School is a three-month semester leadership programme for high school students. Participants come f rom all over the world to learn about the tropical marine e nvironment and Bahamian culture. The Cape Eleuthera Institute is a tropical ecology research f acility which hosts educational programmes and finds solut ions for resource management issues. Island Journeys/South Eleuthera Emergency Partners ( SEEP) is a citizen led group committed to providing emerg ency services to the citizens of South Eleuthera. PICTUREDRIGHTIS Megan at CEI’s Education Display BISHOP NIXON and corn truck SHOPPERS at the market been no word from him the following day police were informed and an online campaign was launched on social net w orking site Facebook to help find him. Nearly 1,000 people p ledged their support to the cause, and rumours of his death spread when the body was discovered inS ands Road. B ut Mr Farrington’s family did not lose hope until police from the Cen t ral Detective Unit con firmed the remains were his on December 23. Ms Ferguson said: “We s till really can’t believe it, it is hard right now to understand exactly how this could happen We don’t know what happened, we really don’t and the police are still investigating. “It’s still a shock. Every time I talk about it I just break down. “He was just so special. He was family orientated, he loved his friends, and everybody just loved Francis.” The youngest of Rudolph and Rosalie Farrington’s six children excelled in academics and sports throughout his academic life and he moved easily from CW Sawyer Primary School, to AF Adderley Junior High School, and then the exclu sive St Andrew’s School where the outstanding student was awarded a full scholarship and graduated as deputy head boy and Valedictorian in 1999. Among the numerous awards he received, Mr Farrington became the first Bahamian to win a full scholarship at a Canadian university. He graduated from St Thomas University in Fredericton, New Brunswick, Canada, with a BA in Economics in 2003 and went on to earn a Masters degree in Business Economics at the Wilfred Laurier University in Ontario, Canada, before accepting a job as a transfer pricing associate for Pricewaterhouse Coopers in Calgary. The proud Bahamian who had represented his country in basketball during his youth returned to Nassau in 2005 to work as an economist with the Securities Commission and then accepted a position at Transfer Solutions Providers Limited before resigning in April to return to Canada and study for the Certified Financial A nalyst (CFA It was during a short visit with his family in Nas-s au that he disappeared. Ms Ferguson said: Francis was being sought to fill job vacancies both locally and in Canada rightu p to the time when he was discovered missing. Words alone cannot explain how much we lovea nd miss this special son, b rother, friend and human being.” All who knew Mr Far r ington describe him as a warm and loving, ambitious and hardworking individual who could noth elp but succeed in all areas of life. They have flooded the Facebook website created to help find him with writ ten messages and photographs in tribute to their friend since they learned of his incomprehensible death. Tania Blanchette wrote: That smile, that laugh, that face; I can't believe that this world could take away someone as beautiful and wonderful as him, I just can't. “This is grater than a tragedy, it's truly paralyz ing to think that I will nev er see or hear from him again.” Indira Beryl Martin wrote: “Francis, beloved brother and friend to me and so many others: you will always live on in my memories and carry my eternal admiration. I will never forget your giant laugh or your giant heart that had space for so many people. Live on brother as I know you have not departed, only transcend ed. Love and miss you.” St Thomas University (STU MacIsaac said: “I just want to let his friends and family know that my thoughts and prayers are with you all. Francis was an amazing person and I will always remember his smile. “It has shocked those of us who knew him from STU to no end and we hope in the future we will have answers to this tragedy.” A funeral service will be held at St John’s Native Baptist Cathedral in Meeting Street, Nassau, at 10am on Tuesday, January 5. Tributes to him can be sent to the family for inclu sion in a memorial booklet if submitted by noon today. Please email your memories to iriegyrl@hot mail.com or kevinj_Farrington@hotmail.com. Police confirm body is that of missing man FROM page one South Eleuthera’s Farmers Market a huge success F ROM page seven

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By CHESTER ROBARDS B usiness Reporter crobards@tribunemedia.net Opponents of the Bahamas Electricity Corporation’s (BEC power plant are arguing thatt he project’s Environmental I mpact Assessment (EIA Florida-based KES Environ mental Services, contains numerous inaccuracies and inconsistencies. President of Responsible Development for Abaco (RDA EIA, which is available on the Bahamas Environment, Sci ence and Technology (BEST Commission, asserts that the power plant construction site was two miles from coastal areas. However, aerial photographs of the site and a fly over conducted by RDA, on which it was accompanied by Tribune Business, showed the coast to be only a few thousand feet from the site of the development. “In addition, no impacts are anticipated as a consequence of the operations of the main power plant facility based upon its distance (two miles from the coast,” the EIA said under the general heading “environmental acceptability of the project”. Tribune Business also inquired about the environmental consultant approval letter attached to the EIA, which stated that it was “RE: Snake Cay Power Plant, Aba co Pre-approval of Consul tants.” Kevin Basden, BEC’s general manager, said the EIA PLP Senator: $ devaluation concerns rise C M Y K C M Y K SECTIONB business@tribunemedia.net WEDNESDAY, DECEMBER 30, 2009 THETRIBUNE $4. 68 $4. 51 $4. 69The 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 $4.29T he information contained is from a third party and The T ribune can not be held responsible for errors and/or omission from the daily report. $4.05 $4.21 $4.21 RBC / Fidelity Joint Venture Company PrimeIncomeFund5.90% Past performance is not indicative of future performance and the investment return and performance value of an investment in the Fund can go up or down. How do I invest? Call Royal Fidelity at 356-9801• Lower risk investment • A higher, stable rate of return • Monthly subscriptions & redemptions • Minimum initial investment $1,000 • Minimum additional investment $250 • No fees to purchase shares Last12MonthsAs at November 30, 2009Last 3 YearsAverageAnnualReturnsAs at November 30, 20095.70% 5.39% Last 5 YearsAverageAnnualReturnsAs at November 30, 2009 By NEIL HARTNELL Tribune Business Editor An investor accused of defrauding two Bahamian brokerage houses out of a collective $29 million has won a partial victory in the US courts, after a judge agreed to strike out a part of the indictment alleging that his activities caused one of those firms to collapse into liquidation. Justice Robert Kelly, sitting in the US district court for eastern Pennsylvania, ruled that the US governments alle gations that George Geor giou’s activities caused the $25 million collapse of Caledonia Corporate Management, the Bahamian brokerage firm, be “stricken” because they were potentially prejudicial to the Canadian investor’s defence. The words ordered removed from the indictment stated that “because Caledonia was unable to cover those massive losses, the firm could no longer operate and was liq uidated”. The judge made this order in relation to various motions filed by Georgiou in a bid to dismiss the February 12, 2009, case brought against him by the US government and Fed eral Bureau of Investigation (FBI Canadian of “leading an international securities fraud conspiracy involving the manipulation of the stocks of four publicly traded companies Broker’ s $25m collapse ‘struck’ from indictment Investor accused of defrauding two Bahamian brokerages of $29m, and causing Caledonia slide into insolvency , wins partial pre-trial victory SEE page 6B By NEIL HARTNELL Tribune Business Editor While Arawak Homes expects to construct more properties and enjoy a more prosperous 2010 compared to this year, the developer’s chairman yesterday said there were two “material overhangs” that could impact the Bahamian economy’s nearterm performance the fate of the $2.6 billion Baha Mar project and the need to rein in Government spending. Franklyn Wilson told Tribune Business that Standard & Poor’s (S&P mas decision to downgrade the Bahamas’ long-term sov ereign credit rating had raised “legitimate questions” about how well this country was “managing its own affairs”, suggesting that an internal focus would be key to this economy’s performance in 2010. Emphasising that he was “praying for better fiscal management”, Mr Wilson said that regardless of the exter nal forces impacting the ‘Managing our own affairs’ is key to 2010 performance * Arawak Homes chairman says ‘two material overhangs’ for Bahamas are fate of $2.6bn Baha Mar p roject and gover nment reining in public spending * Expects 2010 to be better year for housing developer, although public policy response to Cable Beach work permits critical * S&P downgrade raises ‘legitimate questions’ about inter nal Bahamas focus FRANKLYNWILSON SEE page 5B By NEIL HARTNELL Tribune Business Editor The downgrade of the Bahamas’ long-term sovereign credit rating is “the first step” towards a potential devaluation of the Bahamian dollar’s one:one peg with its US currency counterpart, a PLP Senator warned yesterday, expressing fears that “this could be upon us in a year or two” if corrective actions were not implemented now. Jerome Fitzgerald, who is also RND Holdings’ chairman, said Standard & Poor’s (S&P over the composition of the national debt, part of the reasons it cited for the downgrade to ‘BBB+’ investment grade, were directly related to the fact that Bahamian foreign currency debt had doubled as a percentage of the total from 10 per cent to 20 per cent over the last two years. With the downgrade meaning that any future international borrowings by the Bahamian government were likely to require a higher interest rate to attract investors, thereby raising the public sector’s borrowing costs, Mr Fitzgerald said: “This downgrade, to me, is the first step in our dollar coming under threat. “What happened, and the reason why S&P expressed concern about the US$ borrowings, is that foreign currency borrowings have doubled in the last two years and are now $1 billion. That’s the point S&P are concerned about. They’re concerned that the make-up of the debt has changed, and they’re concerned that the foreign debt component has increased.” Arguing that the former Christie-led PLP adminis tration reduced the foreign currency component of the national debt by about $100 million, from $500 million to near $400 million, during its 2002-2007 tenure, Mr Fitzgerald said the Ingraham administration’s increased borrowing could produce balance of pay ments pressures. The increased foreign currency debt component, Mr Fitzgerald said, would “increase pressure on us to find US dollars” to service principal and interest repayments at a time when the main capital inflow sources tourism and foreign direct investment were severely reduced. “If we can’t make payments on that US dollar debt SEE page 5B JEROMEFITZGERALD By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International’s managing director yesterday indicated the institution might launch a new preference share issue in the New Year to further fortify its capital base, having increased shareholder equity by an average $15 million per year over the last eight years. Speaking after the BISXlisted institution had experienced a 29 per cent increase in the fiscal 2011 first quar ter’s net income to $3.665 mil lion, compared to $2.83 million the year before, Paul McWeeney said Bank of the Bahamas International was assessing various strategies for financing future growth/lending opportunities. “We’re looking at various options,” he told Tribune B usiness yesterday. “We’d like to reshape the funding side of the balance sheet as best we can. Preference shares are not the best route to go, but are the most attractive in the current economic climate. “I suspect there could be a new offering in the New Year, but preference shares are not the ideal route for the bank to go because it’s very expen sive. But right now, it’s the best solution for the marketplace. “Once we know the market is turning, and growth is possible out there, we’d like to support it with decent equi ty.” M r McWeeney emphasised that a key goal for the bank was “to fortify the long-term capital base to withstand the sort of shocks we’ve gone through” with the current recession, and correspond ingly sharp increase in nonaccrual loans. Bank of the Bahamas Inter national’s current Tier I capi Bank considers New Year preference issue * Bank of the Bahamas International sees profits up 29% in 2011 Q1, with capital base increasing by $15m on average over last eight years * Eyes credit card platform for export, and expects to commence talks with one credit card firm in 2010 first quarter * ‘Fairly confident’ not have to take any further provisions beyond initial $2.655m * Expects headquarters construction to start in 2010 SEE page 2B Costs to rise $3.5-$m from Abaco plant’ s ‘fuel switch’ SEE page 4B

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SARA LEPRO, AP Business Writers TIM PARADIS, AP Business Writers NEW YORK T he stock market edged lower Tuesday, breaking a six-day advance as reports on home prices and consumer confidence did little to excite buyers. Major indexes rose modestly in the early going but slipped as the dollar strengthened and tugged on com modities prices. A stronger dollar makes commodities more expensive for foreign buyers. Trading was quiet, as it has been in recent days, and many investors left at the end of the day for a long New Year's weekend. The low volume held the Dow Jones industrial average to a 36-point range, the narrowest in nearly three years. The modest losses came after stocks had risen for six straight days. Economic reports looked stronger but failed to galvanize investors. The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November. That was slightly better than economists had forecast. The index remains well below what is considered healthy. A reading of 90 or more signals a solid economy. However, the index has jumped from a historic low of 25.3 in February. H ome prices also rose. The Standard & Poor's/CaseShiller's home price index rose for a fifth straight month in October, edging up 0.4 percent. The index was off 7.3 percent from October last year, roughly in line with expectations. Anal ysts Analysts said there were few surprises in the economic numbers to drive the market. "The reports we're seeing broadly reinforce the expec tations we've had," said Jim Baird, partner and chief investment strategist for Plante Moran Financial Advisors in Kalamazoo, Mich. "It's slow and steady; It's not explosive improvement." The Dow slipped 1.67, or less than 0.1 percent, to 10,545.41. The trading range was the tightest since February 2007 and the fifth straight day when the index has swung by fewer than 70 points. The Standard & Poor's 500 index fell 1.58, or 0.1 percent, to 1,126.20, while the Nasdaq composite index fell 2.68, or 0.1 percent, to 2,288.40. Interest rates fell after a successful auction of $42 bil lion of five-year notes. The Treasury Department is issuing $118 billion in debt this week as part of its efforts to fund its stimulus programs. With so much debt flooding the market, there's been concern this year that demand would diminish. Most auctions though have been able to attract decent demand. The yield on the 10-year Treasury note, which is used as a benchmark for consumer loans, fell to 3.80 percent from 3.85 percent late Monday. The dollar reversed an early slide and moved higher against other currencies. Oil rose 10 cents to settle at $78.87 per barrel on the New York Mercantile Exchange. The stronger dollar held oil below $79. Gold fell. Tim Speiss, chairman of Personal Wealth Advisors practice at Eisner LLP in New York, said he expects to see the market build on its recent gains at the start of the new year and through the first quarter. "We're going to be build ing momentum," he said. Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to a light 2.6 billion shares, down from Monday's 2.8 billion. In other trading, the Russell 2000 index of smaller companies fell 0.57, or 0.1 percent, to 633.18. Overseas, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index added 0.1 percent, and France's CAC40 rose 0.3 percent. Japan's Nikkei stock average inched up less than 0.1 percent. C M Y K C M Y K BUSINESS PAGE 2B, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /(*$/,&(8.51$)7$t,7<)81'/7'ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG)XQG&RPSDQ\fLV L Q GLVVROXWLRQFRPPHQFLQJWKHWKG RI'HFHPEHU&UHGLWRUV KDYLQJGHEWVRUFODLPVDJDLQVWWKH&RPSDQ\DUHUHTXLUHGWRVHQG SDUWLFXODUVWR&UDLJRQ\f*RPH]/LTXLGDWRURIWKHVDLG&RPSDQ\DW WKHRIILFHVRI%DNHU7LOO\*RPH]7KH'HDQHU\&XPEHUODQG6WUHHW3 %R[1DVVDX%DKDPDVDQGLIVRUHTXLUHGQRWLFHLQ ZULWLQJIURPWKHVDLG/LTXLGDWRUWRFRPHLQDQGSURYHWKHVDLGGHEWV RUFODLPVDWVXFKWLPHDQGSODFHDVVKDOOEHVSHFLILHGLQVXFKQRWLFH RULQGHIDXOWWKHUHRIWKH\ZLOOEHH[FOXGHGIURPDQ\GLVWULEXWLRQPDGH EHIRUHVXFKGHEWVDUHSURYHGRUSUHFOXGHGIURPREMHFWLQJWRDQ\VXFK GLVWULEXWLRQ 'DWHGWKHWKGD\RI'HFHPEHU &UDLJRQ\f*RPH] /LTXLGDWRU Bank considers New Year preference issue tal ratio, or risk adjusted capital, stood at 24 per cent, well above the new ‘trigger’ threshold of 14 per cent set by the Central Bank of the Bahamas. The bank’s shareholder equity was “just shy” of $120 million, Mr McWeeney adding: “When I took over eight years ago, it was $17-$18 million. That was a major goal of mine, to increase the capital base, so since I took over we’ve increased the capital base by $15 million a year.” As for the expected fiscal 2011 bottom line performance, the Bank of the Bahamas International managing director added: “We don’t expect to be any less than we were last year. My view is that if you’re on par with last year, you’re ahead of the game.” Mr McWeeney said Bank of the Bahamas International had suffered in line with the rest of the industry when it came to non-performing and past due loans as the economy spiralled downwards, telling Tribune Business the institution was “hope f ully slightly below” the 9 per cent average for non-performing loans as a percentage of the total portfolio. The Bank of the Bahamas International’s managing director added that the rise in non-performing/non-accrual loans had also been responsible for the drop in the bank’s first quarter interest income to $12.775 million, compared to $13.645 milliona year ago a fall of almost $900,000. S till, as evidenced by the more than $14 million growth in Bank of the Bahamas International’s loans and customer advances during the three months to September 30, 2009, reaching over $570 million, lending opportunities are still there. “There’s still good demand out there,” Mr McWeeney said. “It’s important the banks do lend to get the economy out of this, and we still have a positive view on business expansion. Wheret here are positive prospects, we will look at it. Hopefully, a lot of the non-performing loans will correct themselves over the next year.” Following a “hard look” at its total loan portfolio by its internal credit risk department, Bank of the Bahamas International took a $2.655 million provision for specific loan loss es in the 2011 first quarter. “We feel fairly confident that we will not have any significant further provisions for the year,” Mr McWeeney said, adding that to meet both the Central Bank’s and International Financial Reporting Standards (IFRS sions were being recognised in the income statement, not the balance sheet. This helped to explain why Bank of the Bahamas International recorded a positive $1.8 million swing on its net credit loss expense, the chief factor behind its improved net income per formance. The bank has also used a portion of its retained earnings to create a general reserve. Meanwhile, Mr McWeeney said Bank of the Bahamas International “expects the return on investment to be significant” from transferring its credit card processing platform in-house. Pointing out that this was a service the bank planned to export, Mr McWeeney said one credit card company, which currently used the same Panama-based processor it had done, was interested in starting talks with Bank of the Bahamas International in the 2010 first quarter about switching to its platform. “It has the ability to support credit card platforms from any country in the world,” Mr McWeeney said. “Once we’re satisfied it’s functioning properly, we will be marketing that outside the Bahamas. That’s a prime vehicle we can market outside the country.” Bank of the Bahamas International also expected to start the first phase construction on its new West Bay Street headquar ters in 2010. That phase will involve the building that will house the bank’s headquarters functions, the first phase of a three-stage project. FROM page 1B The Government last night said the Bahamas has concluded Tax Information Exchange Agreement (TIEA negotiations with 23 countries to-date, with 10 signed, in a move to allay fears that this nation might not meet the Organisation for Economic Co-Opera tion and Development’s (OECD d eadline for escaping its so-called ‘grey l ist’. Adding that it expects to exceed by the OECD’s March 2010 deadline and required minimum of 12 signed agreements, the Government said the 10 s igned TIEAs were with the US, M onaco, San Marino, the United Kingdom, New Zealand, the Netherlands, the People’s Republic of China, Argentina, Belgium, and France. Negotiations I t added that TIEA negotiations h ave been successfully concluded with Germany, Canada, Spain, Mexico, Australia, South Africa, South Korea, and the seven Nordic countries of Norway, Sweden, Finland, Denmark, Iceland, Greenland and Faroe Islands. The signature on agreements by countries with whom the Bahamas has concluded negotiations will follow the completion of their relevant internal p rocedures required for the signing of t reaty instruments. These internal proc edures, which have been fast tracked by some countries, include the added requirement of translating the agreement into relevant native languages. Government: 23 TIEAs in position Stocks slip to break six-day winning streak WALLSTREET

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C M Y K C M Y K BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM SecurityPosition PurposeThe purpose of this position is to promote, enforce, and regulate the highest security standards and practices in the workplace and to investigate and respond to various types of emergencies as required to ensure a safe and secure work environment.Environment enforcing high safety and security standards.Duties: CCTV systems. and any unusual or important happenings. shift. Experience: Job Requirements: Reporting Line: Applications should be submitted to the SHEQ Manager Dbs Vopak Terminal Bahamas P. O. Box F-42435 Freeport, Grand Bahama, Bahamas On or before December 31, 2009 By CHESTER ROBARDS Business Reporter crobards@tribunemedia.net The increased costs from enhanced security measuresa t Lynden Pindling International Airport (LPIA b e incurred by the airlines that use it, the Nassau Airport Development (NADC ompany’s president said yesterday. C raig Richmond, who is also NAD’s chief executive, said the airport operatorc ould also face extra costs because of the increase in security due to the foiledC hristmas terror attack. However, the additional s ecurity will be seen at the gate and not at pre-US Customs screening. M r Richmond said additional passenger screening a t the jetway gate has caused delays for most of the airlines, and some passengerm alcontent. However, he added that m ost passengers understand the increased security and endure the longer boarding processes. “People generally realize that measures are put inp lace for their own safety,” Mr Richmond said. According to him, NAD h as not yet tallied the additional costs, but insisted that i t will be nominal. “We don’t have to bring on any more staff,” Mr Richmonda dded. On Christmas Day, a N igerian man aboard a transatlantic Delta flight to Detroit tried to ignite an explosive or incendiaryd evice hidden in his underwear aboard the plane when h e was subdued by vigilant passengers. A ccording to news organisations, the new security measures caused by thise vent, labelled a terrorist attack by US president B arack Obama, have been causing vast delays in flights and angst among passengers. Backlash The Bahamas Hotel Association’s president, RobertS ands, said that despite the possible backlash for travel, t he paramount issue at the airport is passenger safety. “We cannot put anything i n front of that particular issue, and the BHA supports the initiatives to put in place the procedures that will give confidence to the travellingp ublic,” he said. According to Mr Sands, there is concern that travel to the Bahamas could bed isrupted because of the measures put in place at airp orts. He further lamented that this incident, coming a mid an economic recession that stunted tourist arrivals by air during the past year,c ould be a double hit in arrival numbers. It is regrettable that parties continue to terrorise the travelling public, whichc ould infer some additional fear,” said Mr Sands. T his change in security measures also comes after the airport removed theh ighly-contested second xray screening at the entrance to the departure lounge. Many people considered the second screening obsoletea nd a nuisance. Mr Sands said “there would be a greater concerni f travellers did not feel the appropriate screening is in p lace”. Airlines set to incur extra security costs Shar e your news T he Tribune wants to hear from people who arem aking news in their neighbour h oods. Per haps you are raising funds for a good cause, campaigning for impr o vements in the ar ea or have won an a ward. I f so, call us on 322-1986 and share your story.

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did not require a second preapproval of the consultant because it was the same project but a different site. RDA is alleging that the Government, BEC and its contractors began clearing the site before the EIA was complete. However, Mr Basden insisted that Friends of the Environment and other Abaco NGOs concerned about the plant underwent a walkthrough of the property before any construction began. However, those NGOs refute that claim. Mr Kemp argued the road to the present site of the $105 million power plant, which is 60 per cent complete, had been pushed through before the BEST Commission first received the completed EIA. Some EIA photographs show some possible clearing may have been done at the time the pictures were taken. Another concern raised by the NGOs is the proximity of the fuel pipeline and the power plant to a national park. The EIA contends that the facility is seven miles away from the nearest settlement, but small residential developments exist within three miles of the plant as well as a substantial amount of farmland, said to be the bread basket of the island. Mr Kemp said he suspects this project was dreamt up ina day, and carried out without regard for a proper EIA and public consultation. According to the EIA: “During the building permit application and EIA review process at the Town Planning Committee meeting, should the committee deem it necessary and if there is strong public objection to the project, representatives or members o f the general public may be i nvited to voice their views or o bjections. “Due notice is also taken of any comments made by NGOs such as Friends of the Environment (FRIENDS With respect to FRIENDS, there is a concern with regard to potential impacts to Sea of Abaco ecology, and specifically to the Pelican Cays Land and Sea Park during the operation of the power plant. Balance “While this is an important consideration in the power generation dialogue, finding the balance between the power generation needs of the Abacos and the need to be ecologically and environmentally responsible are not mutually exclusive and are clearly acknowledged by BEC. “The importance for reliable and inexpensive electricity, which provides the basis for Abaco's continued and i mproving standard of living f or all of its citizens, should n ot be marginalised on the basis of the ‘no development’ alternative. In addition, the use of alternative fuels has not yet developed to the utility scale, although active investigation into viable alternative technologies continues.” Mr Kemp and the not-forprofit group, Friends of the Environment, have been railing against the Government ’s plans to build the Wilson C ity plant, which could use B unker C heavy Fuel oil. According to those agencies, that particular heavy fuel oil is one of the worst polluting agents to be burned to produce power. However, Mr Basden said the twin generators that will supply Abaco with its power would be able to accommodate the more expensive automotive diesel, which is a cleaner option for power prod uction. And government has not yet decided which fuel it w ill use to generate power. M r Basden said the dispari ty in the cost of running the cheaper Bunker C fuel oil and diesel would be $3.5 to $4 million in costs. Prime Minister Hubert Ingraham said recently that if Abaco preferred the more expensive Automotive Diesel fuel, it would have to incur the cost. Traditionally, Abaco’s fuel costs, because of its power plant’s inefficiencies, have been subsidised by taxp ayers in New Providence. C M Y K C M Y K BUSINESS PAGE 4B, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 1 2 7 , & (58&2//,0,7(' 1 2 7 , & ( ,6 +(5(%< *,9(1 DVIROORZV 58&2//,0,7('LVLQYROXQWDU\GLVVROXWLRQXQGHU WKHSURYLVLRQVRI6HFWLRQRIWKH,QWHUQDWLRQDO %XVLQHVV&RPSDQLHV 7KHGLVVROXWLRQRIWKHVDLGFRPSDQ\FRPPHQFHG RQWKH'HFHPEHUZKHQWKH$UWLFOHVRI 'LVVROXWLRQZHUHVXEPLWWHGWRDQGUHJLVWHUHGWKH 5HJLVWUDU*HQHUDO 7KH/LTXLGDWRURIWKHVDLGFRPSDQ\LV&UHGLW6XLVVH 7 'DWHGWKLVWKGD\RI'HFHPEHU BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB &UHGLWXLVVH7UXVW/WG /LTXLGDWRU 1 2 7 , & (0$66
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Bahamian economy, this nation needed to do a better job of managing itself something highlighted by the S&P move. have very little doubt that the global economic situation will be more favourable than in 2009,” Mr Wilson saidof the upcoming year. “I am very confident of that.” However, he added of the S&P decision: “That’s a third party saying: ‘Hold on, change. You’re going down a path that is very dangerous.’ “What it really boils down to is the extent to which we manage our own affairs more prudently. It’s [the S&P downgrade] calling into question legitimately how well we’ve been managing our own affairs. That will have a lot to do with how well the economy does in 2010.” The Arawak Homes and Sunshine Holdings chairman then told Tribune Business: “My sense is that there are a number of factors that will play out in 2010. A materialf actor will be the Baha Mar project. “My understanding is that the parties, the Chinese and the principals of Baha Mar, have reached an understanding subject to the granting of t housands of work permits [for Chinese workers].” Tribune Business was told last week that Baha Mar’s potential agreement with the two Chinese state-owned entities, China State Construction and the China Export-Import Bank, for the $2.6 billionC able Beach strip’s redevelo pment was per cent likely to go” ahead, with just a few commercial details remaining to be worked out. This newspaper was also told at the time that the Chinese were seeking 6,500 work permits for their construction and other personnel whow ould work on the developm ent, although no more than 2,500 would be granted and their holders present in the Bahamas at any one time. This figure was subsequently disputed by wellplaced Tribune Business sources, some suggesting the number of work permits being sought by the Chinese was higher and others lower, and those close to Baha Mar saying it was not even an issue. Still, Mr Wilson said yesterday in relation to the Baha Mar work permits issue: Clearly, that’s a matter that I would think would warrant a lot of public negotiation. I’ve heard of 4,000 work permits. “Clearly, whatever the number is it’s a very material amount. That’s a matter that goes beyond just economics. That’s a matter any govern-m ent will think about very h ard before making a decision. My understanding is it’s the intention of the Government to think very long and hard. “That is an overhang for the economy,” Mr Wilson said. “The second overhang is that the Government hast o, has to, has to be more prud ent with its expenditure. “I don’t care they take in, what’s going on, but the rate at which they are spending is a very serious concern. Those are the two overhangs for me..... What will be the public policy response to the Baha Mar project and more prudent fiscal management. We are praying for better fiscal management, improved fiscal management.” Still, despite these variables, Mr Wilson said Arawak Homes expected 2010 to be better than the current year. He explained: “I think, by and large, a rising tide lifts all ships and we expect 2010 to be a rising tide. We do expect the economic climate to be more favourable, and the management team we have in place [at Arawak Homes] is increasingly on top of theirg ame, so to speak. “Arawak Homes has a management team that has been very creative, and the fact it’s part of a financially strong group of companies makes it able to do some things that allows it to differentiate itself. “We are being able to be selective in terms of identifying those with the capacity to buy housing, and are targeting them in a more specific way than in the past.” Mr Wilson said other group companies, such as Sunshine Finance, were able to assist clients in restructuring their financial affairs “so as to maintain their standing in the housing market”. C M Y K C M Y K BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM AUDIT SENIOR J ames B. Gomez & Co. requires an Audit Senior with a minimum of four (4The s uccessful applicant should possess a qualication that makes them eligible for membership in The Bahamas I nstitute of Chartered Accountants. Suitable applicants should respond in writing to: The Manager P .O. Box SS-6229 Nassau, Bahamas J ames B. Gomez & Co. is a member rm of DFK International, a worldwide association of independent a ccounting rms and business advisors. 923$.(50,1$/%$+$0$6 6DIHW\IILFHU)LUHPDQ3RVLWLRQXUSRVH7KHSXUSRVHRIWKLVSRVLWLRQLVWRSURPRWHHQIRUFHDQGUHJXODWHWKHKLJKHVWVDIHW\VWDQGDUGVDQGSUDFWLFHV LQWKHZRUNSODFHDQGWRLQYHVWLJDWHDQGUHVSRQGWRYDULRXVW\SHVRIHPHUJHQFLHVDVUHTXLUHGWRHQVXUH VDIHZRUNHQYLURQPHQW(QYLURQPHQW7KLVSRVLWLRQH[LVWVLQDQHYHUFKDQJLQJHQYLURQPHQWWKDWUHTXLUHVIOH[LELOLW\DQGWKHDELOLW\WRHPEUDFH IUHTXHQWFKDQJH,WUHTXLUHVSHUVRQVZLWKVWURQJJHQXLQHSDVVLRQIRUSURPRWLQJDQGHQIRUFLQJKLJKVDIHW\ VWDQGDUGV'XWLHVf 3URYLGHZULWWHQYHUEDOHSRUWVRIDIHW\–HFXULW\PDWWHUVWRJPW f 0DLQWDLQGDLO\WXUQRYHUORJRIDOODFWLYLWLHVRQVKLIWLQFOXGLQJHTXLSPHQVWDWXVDQGDQ\XQXVXDORULPSRU WDQWKDSSHQLQJV f &RQGXFWUHJXODUSDWUROVWKURXJKRXWHUPLQDOIDFLOLW\ f ,QYHVWLJDWHDQGUHSRUWRQDOOVXVSLFLRXVFLUFXPVWDQFHVDQGKD]DUGRXVFRQGLWLRQVRQVKLIW f 3URYLGHDVVLVWDQFHGXULQJHYDFXDWLRQH[HUFLVHV f 5HVSRQGLQJZLWK)LUHUXFNVWRRQVLWHLQFLGHQWVDQGRSHUDWHVDPHDVGLUHFWHG f 3HUIRUPURXWLQHLQVSHFWLRQRIWKHILUHKRXVHILUHWUXFNVDPEXODQFHDQGRWKHUDQFLOODU\HTXLSPHQWORFDWHG LQWKHILUHKRXVHf $VVLVWLQWUDLQLQJRIVKLIWILUHFUHZDVUHTXLUHG f 0RQLWRUMREVLWHVRQGDLO\EDVLVDQGWDNHQRWHDQGFRUUHFWXQVDIHDFWVXQVDIHFRQGLWLRQV f (QVXUHHPHUJHQF\UHVSRQVHHTXLSPHQWLVPDLQWDLQHGLQDFRQVWDQWVWDWHRIUHDGLQHVV f &RQWUROWUDIILFZLWKLQWKH)DFLOLW\FKHFNLQJIRUYLRODWLRQVDQGHQIRUFLQJIXOOFRPSOLDQFHRIFRPSDQ\UXOHV DQGUHJXODWLRQVUHJDUGLQJPRWRUL]HGHTXLSPHQW([SHULHQFH([SHULHQFHLQ6HFXULW\6DIHW\DQG)LUH)LJKWLQJJRRGDVVHWEXWQRWPDQGDWRU\7UDLQLQJZLOOEHSURYLGHG LQDOODUHDV-REHTXLUHPHQWVf +LJKFKRROJUDGXDWH f f ([SHULHQFHLQ6HFXULW\6DIHW\DQG)LUH)LJKWLQJJRRGDVVHWEXWQRWPDQGDWRU\7UDLQLQJZLOOEHSURYLGHG LQDOODUHDVf *RRGHUEDODQGZULWWHQFRPPXQLFDWLRQVNLOOVPDQGDWRU\f f *RRGZRUNLQJNQRZOHGJHFRPSXWHUVNLOOVDQDVVHW f 3UHSDUHGWRZRUNKRXUVKLIWF\FOH f *RRGSK\VLFDOFRQGLWLRQ f 3DVVLRQIRUH[FHOOHQFHDQGWHDPZRUN5HSRUWLQJ/LQH7KLVSRVLWLRQUHSRUWVWRWKHDIHW\DQGHFXULW\XSHULQWHQGHQW Applications should be submitted to the SHEQ Manager Bahamas Oil Rening Company International Limited Dbs Vopak Terminal Bahamas P. O. Box F-42435 Freeport, Grand Bahama, Bahamas On or before December 31, 2009 ‘Managing our own affairs’ key to 2010 performance FROM page 1B in the future, it puts the peg under pressure,” the PLP Senator told Tribune Business. “This downgrade is the first step in that threat. “This is the first step in the chain of events that, if not addressed in an urgent manner and not taken seriously and the Government has been lackadaisical in its approach to these issues and if we do not come up with strategies and policies to address this, I fear this thing will be upon us in a year or two. “Long-term, this is the most serious thing happening to us. This is the first threat to the Bahamian dollar, take it from me.” Arguing that the Ingraham administration’s economic borrowing to date had produced no tangible economic benefits, Mr Fitzgerald said any foreign debt reduction strategy needed to work ‘handin-glove’ with an import substitution and economic diversification strategy. Yet he argued that there had been no attempt to achieve this through the growth of a Bahamian manufacturing or production capacity, something that borrowed foreign currency dollars should be used for, Mr Fitzgerald said. Imports By developing such industries and reducing the Bahamas’ reliance on imports, the foreign currency debt pressures would be alleviated as the outflow of US dollars would be reduced. When Tribune Business asked whether it was the fiscal profligacy of both PLP and FNM administrations that had placed the Bahamas into its current fiscal situation, Mr Fitzgerald responded by arguing that the Christie administration reduced foreign borrowings, despite itself borrowing a collective $540 million over five years. Instead, Mr Fitzgerald argued that the Ingraham administration had borrowed $750 million in its two-and-a-half years in office, and was likely to breach the $1 billion mark in its third year in office, taking the national debt through the $3 billion mark and towards $4 billion. When asked by Tribune Business about whether this administration and future governments needed to cut spend ing, Mr Fitzgerald said that because the public sector had to provide essential services, the Bahamas instead needed to look at reforming its tax structure. “We have to look at revising our tax structure. This cannot be maintained,” he added. “The Government has to come up with a comprehensive policy position moving forward, communicate it to the country and let us get our act together.” PLP Senator: $ devaluation concerns rise FROM page 1B

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from 2004 through 2008”. The four companies in question were thinly-traded stocks on the over-thecounter bulletin board, which Georgiou and his co-conspirators were alleged to have manipulated by artificially increasing the demand for, and prices, of the shares. The artificially inflated stock prices were also used as collateral to obtain margin loans from the two Bahamian broker/dealers. “The indictment further asserts that Georgiou and his c o-conspirators obtained the l oans from two Bahamian brokerage firms, Caledonia Corporate Management Group and Accuvest,” Justice Kelly said. “Regarding Caledonia, paragraph 11 of counts six through eight of the indictment states: ‘As a result of the false representations of defendant George Georgiou a nd his co-schemers concerni ng the collateral for the Caledonia account and their failure to provide additional assets, Caledonia was unable to cover the substantial deficits in the [Ron Wyles] account. Defendant Georgiou and his co-schemers caused Caledonia to suffer approximately $25 million in losses’.” That part will remain in the indictment when Georgiou’s case eventually goes to trial, and Justice Kelly added: “Regarding Accuvest, paragraph eight of count nine states that Georgiou ‘and his co-schemers did not repay the money that they had borrowed on margin and in cash loans from Accuvest, and t heir artificially inflated stock d id not cover the loans. As a result, defendant Georgiou and his co-schemers caused Accuvest to lose at least $4 million’.” In addition, the judge noted: “Specifically, the indictment alleges that Georgiou used wire communications in interstate and foreign commerce to defraud Caledonia and Accuvest.” While Accuvest is still firmly in business, Caledonia has been in court-supervised liquidation since February 2008,a process that has not been controversy-free. Complained Several clients and their advisers have privately complained about the fees being charged by the liquidator, Deloitte & Touche (Bahamas Kikivarakis, and his attorney, Alfred Sears, and the time taken to return their assets to them. Caledonia collapsed into liquidation after suffering the Georgiou-inspired $25 million trading loss, which resulted when Jitney, its Canadian correspondent broker, sold off assets to cover an overdrawn margin loan balance that was not collateralised by Georgiou, who had created the 'hole' in question. T hat overdrawn balance w as in an account operated nominally by a Ron Wyles, whose trading activities were directed by Georgiou. Jitney ended up selling off assets belonging to Caledonia clients other than Wyles/Georgiou because they were all pooled in one omnibus account with it, with no segregation. In his last report on the liquidation to the Bahamian Supreme Court, Mr Kikivarakis alleged that Caledonia "allowed clients to use other clients' assets" in their trading activities to cover overdrawn cash balances. T hese assets totalled $1.05 m illion, but some $468,000 u sed as collateral for this had been sold by Jitney. Some $575,000 had been recovered from former Caledonia clients with overdrawn cash balances in the Jitney account, Mr Kikivarakis said. He added that 12 Caledonia clients had been allowed to operate margin accounts, and while four had "substantial o verdrawn balances", only o ne did not have sufficient c ollateral the Ron Wyles account. Still, progress has been made in returning Caledonia clients' assets. As at July 31, 2009, Mr Kikivarakis said he had issued instructions to transfer $55.896 million worth of assets, out of a total $67.035 million, to the 80 Caledonia clients that accounted for an estimated 89 per cent of the company's business. Initially, Mr Kikivarakis said it was estimated that a total $81.188 million was due to 220 Caledonia clients as at S eptember 30, 2008. Howeve r, this was subsequently revised to $75.332 million, largely because it was discovered that $6.27 million worth of assets had been returned to four clients prior to the liquidation. Out of the $11.139 million that had not been transferred to Caledonia's 80 most significant clients, as at the July 31, 2009, date, Mr Kikivarakis said some $5.439 million of this amount was transferred subsequently once instructions were received from the clients. A further $3.481 million had been returned to a nother five clients. A s for the remainder, the l iquidator said six had yet to provide him with the correct or necessary instructions to transfer $2.381 million worth of assets; five clients had authorised him to sell $1.235 million worth of assets and return the cash proceeds to them; and another $850,440 was being held up because two clients had yet to comply w ith the Supreme Court's o rder to pay 2 per cent of t heir assets into escrow to cover the liquidator's costs. However, Mr Kikivarakis said $4.388 million belonged to 126 Caledonia clients who had not given him instructions to transfer their assets. C M Y K C M Y K BUSINESS PAGE 6B, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ,QROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH127,&( ROXQWDU\/LTXLGDWLRQf1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253/LTXLGDWRUf / HJDORWLFH127,&( ROXQWDU\/LTXLGDWLRQf1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU7KH/LTXLGDWRUL V $UJRVD&RUS1DVVDX % DKDPDV $5*26$&253/LTXLGDWRUf Broker’s $25m collapse ‘struck’ from indictment FROM page 1B

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C M Y K C M Y K INTERNATIONAL BUSINESS THE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.711.03AML Foods Limited1.171.170.000.1270.0009.20.00% 11.809.90Bahamas Property Fund10.7410.740.000.9920.20010.81.86% 9.305.90Bank of Bahamas5.905.900.000.2440.26024.24.41% 0.890.63Benchmark0.630.630.00-0.8770.000N/M0.00% 3.493.15Bahamas Waste3.153.150.000.1250.09025.22.86% 2.372.14Fidelity Bank2.372.370.000.0550.04043.11.69% 14.049.92Cable Bahamas9.989.980.001.4060.2507.12.51% 2.882.72Colina Holdings2.722.720.000.2490.04010.91.47% 7.195.26Commonwealth Bank (S1)6.766.900.141,6690.4190.30016.54.35% 3.851.27Consolidated Water BDRs2.612.880.270.1110.05225.91.81% 2 .851.32Doctor's Hospital2.552.550.000.6250.0804.13.14% 8.206.28Famguard6.496.490.000.4200.24015.53.70% 11.878.80Finco9.289.280.000.3220.52028.85.60% 11.719.86FirstCaribbean Bank9.999.990.000.6310.35015.83.50% 5 .534.11Focol (S)4.774.770.000.3260.15014.63.14% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 0.450.27Freeport Concrete0.270.270.000.0350.0007.70.00% 9.025.49ICD Utilities5.595.590.000.4070.50013.78.94%1 2.009.95J. S. Johnson9.959.950.000.9520.64010.56.43% 10.0010.00Premier Real Estate10.0010.000.000.1560.00064.10.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 1 000.001000.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 1000.001000.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1000.001000.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1000.001000.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice WeeklyVol. EPS$ Div$ P/E Yield FINDEX: CLOSE 000.00 | YTD 00.00% | 2008 -12.31%BISX LISTED & TRADED SECURITIES AS OF: Fidelity Over-The-Counter Securities30 May 2013 29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 7%TUESDAY, 29 DECEMBER 2009BISX ALL SHARE INDEX: CLOSE 1,560.35 | CHG 7.36 | %CHG 0.47 | YTD -152.01 | YTD % -8.88BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing bases)Maturity 19 October 2017 7% Interest 52wk-Hi 52wk-Low Symbol Bid $ Ask $ Last Price Weekly Vol . EPS $ Div $ P/E Yield 14.607.92Bahamas Supermarkets10.0611.0614.00-2.2460.000N/M0.00% 8.006.00Caribbean Crossings (Pref2.006.254.000.0000.480N/M7.80% 0.540.20RND Holdings0.350.400.350.0010.000256.60.00% 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 % 1.41601.3419CFAL Bond Fund1.41604.625.53 3.03512.8266CFAL MSI Preferred Fund2.8552-2.88-3.92 1.50611.4316CFAL Money Market Fund1.50615.055.20 3.38562.9343Royal Fidelity Bahamas G & I Fund2.9618-12.52-15.21 13.240012.5597Royal Fidelity Prime Income Fund13.24004.935.90 103.0956100.0000CFAL Global Bond Fund103.09563.102.52 100.000099.4177CFAL Global Equity Fund99.41773.122.76 1.08041.0000FG Financial Preferred Income Fund1.08044.325.26 1.03641.0000FG Financial Growth Fund1.0269-0.59-0.19 1.07421.0000FG Financial Diversified Fund1.07423.564.42 9.47409.0775Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.47404.174.18 10.630110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.63016.306.30 7.46134.8105Royal Fidelity Int'l Fund Equities Sub Fund7.461335.4029.64 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 7/11/200731-Oct-09 31-Oct-09TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Oct-09 30-Sep-09 30-Nov-09 18-Dec-09 31-Oct-09MARKET TERMS Colina Over-The-Counter Securities BISX Listed Mutual Funds31-Oct-09 30-Sep-09 31-Oct-09 NAV Date 31-Oct-09 31-Oct-09 31-Oct-09 127,&(LVKHUHE\JLYHQWKDW *(25*(0,/$726 RI :(67 % $<675((73%2;1DVVDX%DKDPDV L V DSSO\LQJ WRWKH0LQLVWHUUHVSRQVLEOHIRU1DWLRQDOLW\DQG&LWL]HQVKLSIRU UHJLVWUDWLRQQDWXUDOL]DWLRQDVFLWL]HQRI7KH%DKDPDVDQGWKDW D Q\ SHUVRQZKRNQRZVDQ\UHDVRQZK\UHJLVWUDWLRQQDWXUDOL]DWLRQ VKRXOGQRWEHJUDQWHGVKRXOGVHQGZULWWHQDQGVLJQHG V WDWHPHQWRIWKHIDFWVZLWKLQWZHQW\HLJKWGD\VIURPWKH W K G RI'HFHPEHUWRWKH0LQLVWHUUHVSRQVLEOHIRUQDWLRQDOLW\DQG &LWL]HQVKLS /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 1 27,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ,QROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH 1 27,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf /HJDORWLFH 127,&( ROXQWDU\/LTXLGDWLRQf 1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU 7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253 /LTXLGDWRUf / HJDORWLFH127,&( ,QROXQWDU\/LTXLGDWLRQf1RWLFHLVKHUHE\JLYHQWKDWWKHDERYHQDPHG &RPSDQ\LVLQGLVVROXWLRQZKLFKFRPPHQFHGRQ GD\RI'HFHPEHU7KH/LTXLGDWRU $UJRVD&RUS1DVVDX %DKDPDV $5*26$&253/LTXLGDWRUf ANNE D'INNOCENZIO, AP Business Writer NEW YORK Americans are ending 2009 feeling better about the economy than when the year began, buoyed by optimism that job prospects will improve in the first half of 2010. Consumer expectations for the job market reached their highest level in two years, but most people remain downbeat about their current prospects, according to a monthly survey released Tuesday. The survey also showed fewer people plan to buy automobiles and homes in the next six months compared with November. "This doesn't mean that the economy isn't getting better, but it does raise doubts on how much actual improvement in the economy we'vea ctually seen," said Mark Vitner, senior economist for Wells Fargo Securities in Charlotte, North Carolina. If past recoveries from recession are a guide, the rebound of confidence will take many more months. The Conference Board's Consumer Confidence Index rose in December for the second month in a row, to 52.9, from a revised 50.6 in November. That's slightly higher than the 52.0 prediction of economists surveyed by Thomson Reuters, but still far short of the 90 that would signify a solid economy. Economists watch the confidence numbers closely because consumer spending on goods and services accounts for about 70 percent of U.S. economic activity as measured by the federal government. Without a marked turnaround in the job market, consumers will continue to "hunker down" and confidence will remain low, Vitner said. The unemployment rate dipped in November to 10 percent, from a 26-year high of 10.2 percent in October. Some analysts worry it will start climbing again in coming months, perhaps rising as high as 10.5 percent next summer. An uneven housing market is unlikely to help. The closely watched Case-Shiller home price index released Tuesday showed that a national index of home prices rose for the fifth month in a row in October, but only 11 of the 20 metro areas tracked showed gains. The consumer confidence index hit a historic low of 25.3 in February after registering 37.4 in January and enjoyed a three-month climb from March through May, fueled by signs that the economy might be stabilizing. Since June, it has bounced along anemically between 47 and 55 as rising unemployment has taken a toll. The bright spot in December's confidence index was consumers' six-month outlook, which rose from 70.3 to 75.6, the highest level since December 2007. But the other main component, which measures shoppers' current assessment, fell to 18.8 from 21.2. That level remains at a 26-year low. "Regarding income, however, consumers remain rather pessimistic about their short-term prospects, and this will likely continue to play a key role in spending decisions in early 2010," Lynn Franco, director of The Conference Board Consumer Research Center. The survey revealed that the proportion of consumers anticipating an increase in their incomes declined from 10.9 percent to 10.3 percent. The economy's health is riding on consumers. The overall economy as measured by the gross domestic product grew at an annual rate of 2.2 percent in the July-September quarter. That was the first positive performance for GDP after four consecutive quarters of decreases, and it marked the strongest sign to date that the recession that started in December 2007 has ended. Economists expect GDP to show even stronger growth in the current October-December quarter, but the recovery could sputter in coming months if consumers, worried about jobs, decide to cut spending. The problem is that it can take a long time for confidence to rebound. During the last recession in 2001, it took about two years for confi dence to climb back to a healthier level of 90. The index peaked at 144.7. In the early 1990s, it took three years for confidence to rebound to healthier levels b ecause the economy was in a jobless recovery, similar to what's currently playing out. The slight improvement in consumer sentiment could be seen in holiday shopping trends. Shoppers spent a bit more than expected when adjusting for the extra selling day between Thanksgiving and Christmas this year, according to MasterCard Advisors' SpendingPulse, which track all forms of payment, including cash. However, shoppers focused on practical items and bypassed gift cards, opting for discounted items instead. Michelle Baran of Atlanta said the economy hit her hard because her boyfriend's payw as cut by 50 percent. The 43-year-old was at Atlanta's Lenox Square Mall on Tuesday returning clothes she had bought for herself. " I feel like the economy is getting better," she said. "But the effects of the economy are still with me. I'm still being careful." Consumer confidence rises in Dec, but still weak ( AP Photo /Jim Prisching, file) IN THIS DEC. 19, 2009 FILE PHOTO , shoppers jam Michigan Ave., as they rush to find last minute deals in Chicago. A monthly survey said Tuesday, Dec. 29, 2009, consumers’ confidence in the economy rose again in December.

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love its retro feel. Mr Moss said he brought the bottles over as souvenirs from Argentina. He has also decorated the restaurant with an assortment of African baskets. “Studio Deli is a modernistic interpretation of traditional Bahamian style," said Mr Moss. "When you walk in here you notice a different but familiar feel all at the same time,” he said. Patrons can also enjoy WiFi access on their laptops during store hours. But at the end of the day, a restaurant’s success depends its quality of service and food, and people are already responding quite positively to the new bistro. Chef Keshlah of Essence Catering prepares all of the food. A very talented cook, she prepares food for residents in the Ocean Club Estates, and several other local food establishments, including Logos Bookstore. And don’t be surprised if you see a small care plastered with Studio Deli parapherna lia zooming down your street next year. Plans are in motion for Studio Deli to start its delivery service soon. The delivery route will cover the eastern edge of downtown, targetting the four zones around Scotiabank East, First Caribbean West, Shirley Street and Bay Streets. C M Y K C M Y K TASTE THE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T h e T r i b u n e By REUBEN SHEARER Tribune FeaturesR eporter rshearer@tribunemedia.net TUDIO Deli’ is the name of t he ne w kid on the culinary bloc k in downtown Nassau. This cozy establishment not only provides healthy alternatives to the usual fare to be had in the downtown area, it also strives to operate the most environmentally friendly restaurant on the island. Studio Deli is housed in a small circa 1930s building formerly used as a food store and sandwich shop. It has been continuous operation for the past 70 years, run by the TJ Knowles and later the Chase families. In fact, many Bahamians know the shop as the old Chase’s Deli, which was open until 2007. The new deli on the corner of Dowdeswell and Deveaux Streets has been highly anticipated by persons who fre quent the area. Deli supervisor Maggie Cartwright and employee Lashea Bullard told Tribune Taste that it's usual for cus tomers to walk into Studio Deli exclaiming, “Finally, I’ve been waiting for this place to open!” "They like the taste of the food, and have been spreading by word of mouth the praise of how wonderful the food is boasting of its endless menu options," Ms Cartwright said. The deli offers healthy breakfast and lunch choices which are becoming more and more popular these days with persons looking to make changes to their diets. For breakfast there are an array of cereal choices. But if you want something more solid, try their freshly baked corn, blueberry, banana nut and bran muffins. On the morning menu are also sausage, bacon, ham, egg and cheese sandwiches, made on wheat, white, or rye bread, and they even come in a pita wrap. Get an early morning cup o’ joe to wake up or just choose from a variety of hot drinks like regular coffee, caf latte, espresso, cappuccino, French vanilla, hazel nut, hot chocolate, and regular tea thata re brewed each morning. Studio Deli’s quiche lorraine has been selling like hot cakes, the staff said. And the other quiches, panini sandwiches and salads are also real favourites witht he customers. T he deli also carries a vegetarian spinach and cheese quiche. The small restaurant has now started its daily soup options low fat garden vegetable and tomato basil soups, chicken and corn chowder, cream of asparagus, lobster bisque and conch chili are all on the menu. Fridays is the day for conch chili. It’s hot and spicy in flavour, and is simmered down with pinto and kidney beans, paprika chili seasonings and fresh tenderised conch. And even if you want something from the menu that has sold out for that day, Chef Keshlah Smith said she will whip up a new batch. The Italian panini is a definite hit, and the roast beef and provolone cheese on wheat bread is delicious. This panini, made with cia batta bread, is based with home-made spaghetti sauce, Genoa salami, with ham and spicy pepperoni, and is grilled using olive oil. The deli’s seasoned house wings have also proven to be a hit, perhaps this is because they're grilled and not fried. Seasoned lightly with basil, salt, and other spices, they are served with a sweet sauce made from basil, chopped nuts, and molasses. The wings are Studio Deli's signature dish, staff told Tri bune Taste . And to accompany the food, you can treat yourself to a cool ginger peach, red current, pomegranate or vanilla iced tea. Chef Keshlah is the one who came up with the unique iced tea recipes. The citrus punch and the ginger lemonade are also very popular. Satisfy your sweet tooth with home made desserts like lemon meringue and cheese cake. Oatmeal, guava duff, and cranberry coconut cookies are also available. Cus tomer favourites are the Swiss mocha chocolate and rum cake. Customers are particularly excited that Studio Deli isd oing it’s part in the ‘green movement’. Studio Deli is the first restaurant in Nassau to offi cially use materials which are environmentally friendly. It’s more expensive, but " the benefits are innumera ble," said Studio Deli owner Michael Moss. All of Studio Deli’s pack aging is made from corn, and other vegetables. The food containers, forks, spoons, napkins, straws, drinking cups and other utensils are all made from various natural materials. The deli also uses ecofriendly bags that decompose over the period of month as they are made from biodegradable material. “Green packaging is becoming industry standard,” Mr Moss said. Studio Deli is cozy sit-in bistro with a unique atmos phere, where everything is in keeping with the wellness theme. The restaurant is outfitted with colorful antique bottles from the 1920s, and customers New on the kid block Studio Deli hits downtown Nassau STUDIO Deli staff (from l to r STUDIO Deli INSIDE Studio Deli

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C M Y K C M Y K TASTE PAGE 10B, WEDNESDAY, DECEMBER 30, 2009 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T h e T r i b u n e New Year’s Eve Parties ATLANTIS, PARADISE ISLAND In addition to a special junkanoo parade and fireworks at a Marina Village, Atlantis is hosting the following parties: For children, Atlantis is offering the New Year’s Eve Non-Stop Party at Atlantis Kids Adventures. For kids aged three to eight, Atlantis Kids Adventures presents Renee Adams, an interactive entertainer who will keep all the little ones engaged. The party starts at 6.30pm and reservations are required. Call 363-3000 for more information. For teenagers (13-17 Atlantis is putting on the ‘Celebrate Like Celebrities New Year’s Eve Party’. Teens are encouraged to dress up like their favourite celebrity for the ultra-lounge dance party. Complimentary apple ciders are offered leading up to the countdown at midnight. Call 363-3000 for more infor mation. For Adults, Aura Nightclub presents the New Year’s Eve Gala 2009 with DJ Rashida from Ameri ca's Best Dance Crew There is complimentary champagne for the toast at midnight. For table reserva tions contact Jason Kushel at 424-8746. GREEN PARROT Green Parrot celebrates New Year's Eve with a live band & DJ. Guests can enjoy a great view of fireworks over the harbour and three course dinner with a glass of cham pagne for $55 per person. Call 322-9248 or visit Green Parrot on East Bay Street for tickets. SENOR FROG’S New Year’s celebrations start at 8pm. It’s $60 for open bar, dinner costs extra and reservations are required for dinner. Guests can ring in the New Year on the waterfront and then enjoy the junkanoo parade! Parking is available at the British Colonial Hilton. Call 323-1777 for more informa tion. COMPASS POINT The restaurant’s special New Year’s Eve party includes a four course dinner with menu selections, a champagne toast, live band, fireworks and a junkanoo rush-out. The party starts at 7pm and tickets are $125 per person. Call 327-4500 for more information. VILLAGIO The Italian restaurant in the Caves Village is offering a five course dinner, music, dancing and cocktails for New Year’s. Dinner is $160; $210 with unlimited beverages; the par ty of dinner is $100 per per son. Call 327-0962/5 for reservations. BAHAMAS HARVEST CHURCH The church is ringing in the new year with a special countdown celebration at the Sheraton Nassau Beach Resort Convention Centre. Doors open at 9.30pm. Pastor Mario Moxey will deliver his prophetic mes sage for 2010 during the evening. things 2 DO REGGAE artist Christopher Smith, more popularly known as ‘Hawkeye’, is getting ready to release his debut album entitled ‘Hawk Extra’. This album will feature tracks produced by some of the best in the reggae industry such as Grammy winning Sly and Robbie; Shane Browne; Winston “Wee Pow” Powell; Richard Brownie, and Ernie Wilks, to name just a few. The album’s title track is called ‘Damn’, a song which speaks of modern reality that affects people on a daily basis. The track was produced by Shane Browne. The concept for the whole album, the artist said, is to produce a more mature album with a cultural vibe, uplifting people and addressing social issues as well as denouncing violence. Three of the tracks on the album are about respect, appreciation and love for women. Hawkeye is now putting the final touches on ‘Hawk Extra’, an album that will showcase a dif ferent aspect of this talented artist. The expecta tions for this album are great and fans worldwide are anxiously awaiting the release. The exact release date has not yet been determined, but the album will be available internationally within the first quarter of 2010. Swing Sang Productions and Hawkeye are consistently working towards the release of ‘Hawk Extra’. Swing Sang Productions are supervising the process, organising the promotion and dealing with the business aspects such as distribution. Hawkeye getting ready to drop debut reggae album By JEFFARAH GIBSON KAREEM Mortimer’s movie ‘Children of God’, which tells the story of a gay Bahamian man in a homophobic society, has received nothing but posi-t ive responses from audience members, the filmmaker said. Sitting down with Tribune Entertainment, Mr Mortimer said that because ‘Children of God’ tells the story of a gay white Bahamian and his struggles, some people label it as controversial, but the filmmaker himself said the only thing he did was tell a human story. “Sexuality is a big deal in the film, and this is one of the things that we as a people don’t like to talk about. It is not a film to shock the audience, and it might be controversial to some, but I don’t find anything controversial about what is discussed in the film,” he said. Mr Mortimer said that ever since the film’s premiere he has been getting nothing but positive responses from people. “People were overwhelmingly positive. I have had numerous phone calls and e-mails from people telling me what they took from the film and what it meant to them. I never imagined that people would be able to identify w ith the storyline. The movie doesn’t alienate anyone, it’s a movie for straight people, gay people, it’s a movie for Christians, and at the end of the day I made a honest film that captures a human story,” he said. While sexuality is the prevalent subject throughout the film, hypocrisy, Mr Mortimer said, is the most important theme that makes the movie universal. And now fresh off the success of his movie ‘Children of God’, the Bahamia n director and filmmaker is already hard at work creating, as well as codirecting new films that are expected to make their debut in 2010. The gratifying success of the ‘Children of God , Mr Mortimer told Tribune Entertainment , has inspired him to continue to take on new and exciting projects. “I have a number of undertakings for next year. I have already begun working on a film for 2010/2011,” he said. Mr Mortimer has joined forces with another director, a foreign national w ho resides in the Bahamas, to develo p the film ‘Wind Jammers’. When two talented artists collaborate, it allows for the exchange of great and unique ideas, and possibly amazing results. “I have also collaborated with Rick Vonamur where we both direct this film. Even though it is a joint effort, it’s all about him and I am just excited to be working with him on this project,” he said. ‘Wind Jammers’, set in the Bahamas, is a comedy that tells the s tory of a young American girl who moves to the Bahamas with her father. During her time in the Bahamas she learns a number of valuable life lessons. “This is a ‘coming of age’ story, and it is just simply about growing up,” the filmmaker said. The film is targetted towards teens who should be able to easily identify with the movie’s storyline. Major work for the project has already been completed. “We have already shot the movie, and we are doing the post production right now,” he said. Mr Mortimer said he is not sure whether ‘Wind Jammers’ will be featured in next year’s Bahamas International Film Festival (BIFF As for his next solo project, Mr Mortimer said he is still in the development phase, but expects that it will be just as intriguing and successful as ‘Children of God’. “ ‘Children of God’ was a beautiful story, and this film will be as success ful as ‘Children of God’. I am also not sure if this one will be a feature in the film festival, but I am thinking of getting it on Netflix,” he said. For those who did not get a chance to see ‘Children of God’ during BIFF, they will be able to view the movie on DVD sometime next year. “We are trying to secure distribution by summer so that the movie can be accessible to all who did not get a chance to see it,” he said. ‘Children of God’ By REUBEN SHEARER Tribune Features Reporter rshearer@tribunemedia.net THE stately Collins House on Shirley was the site of the highly antic ipated ‘Rotate’ spectacle featuring six events in one place at the same time earlier this month. Over 500 persons celebrated on the beautifully landscaped grounds belonging to the historical edifice. “This is the first event held there since it’s last occupants,” said Ranard Henfield, Rotate organiser and also CEO of the 242 People Clothing Line. “They have been renovating for a few years, restoring the inside of the building the way it was first built. We plan to put a five star restaurant on the first floor, and turn a portion of it into a museum.” Two Saturdays ago, the grounds of Collins House were transformed into a scene like out of the movies, as attendees were treated like high profile celebrities and greeted by a red carpet similar to the Grammy of Academy Awards. At sunset, a spotlight lit the sky, moving east, west, north and south as hundreds of people of all ages made their way to the Rotate event. Bernadette Christie, wife of former Prime Minister Perry Christie, opened the event with Chef Jamal Petty in a live taping of his JCN ‘Island Flare Celebrity Cooking Show’. After whipping up a few dishes, he and Mrs Christie served up their food to attendees at the event. Novie and Tim “Shiraz” Rodland gave live performances at the fash ion show as the 242 People Clothing Company debuted their new designs. Fifty models strutted down the runway in sports, smart-casual, winter and urban designs. The hoodies were a special high light in winter clothing. They come in eight colours, including the company’s staple colours of black, aquamarine and gold. It was a high class fashion show, and attendees lined up along the runway to applaud the models as they walked by. None of the merchandise was sold on-site, and attendees were directed to the Sports Centre to purchase items from the 242 People Clothing line. A booth was set up for interviews with Sammi Starr, who talked about his new album, signed autographs, and gave out new CDs. He later per formed on stage with Visage. Scharad Lightbourne hosted part four of his ‘CLICK’ art series, featuring present and past exhibits. Mr. Henfield walked through ‘CLICK’ to get feedback from the onlookers. “All of Scharad’s works were on display,” he said. “I walked through ‘CLICK’ to see how it went and people loved it.” Also in another one of the six designated areas at the event, Rotate featured the year-end networking event for the local business fraternity Bahamas Dinner Network. “The foreman of Collins House was so impressed to see what was done at the venue that he arranged an emergency meeting this week to discuss working with us to do events now at Collins House,” Mr Henfield said. Ralph G Collins, in his lifetime a prominent citizen, politician and busi nessman in the Bahamas, built the mansion shortly after the 1929 hurricane on his large estate that stretched from Shirley Street to Wulff Road. The building has had many owners over the years. St Andrew’s School Limited acquired a portion of the property from the Collins Estate in 1950. It was purchased by the government in 1970 and has been occupied by the Ministry of Education since June 1972. The great response to this year’s event has definitely made it a ‘must’ for 2010, organisers said. And Chef Jamal Petty’s show was received so well by the audience that plans are in motion for a new season of his ‘Island Flare Celebrity Cooking Show’ to be taped in the front of a live audience every week. The Rotate Event was organised by six enterprising young Bahamian men. Team members included Ranard Henfield, Sammi Starr, Scharad Lightbourne, Jason Ferguson, Cameron Smith and Chef Jamal Petty. ‘Rotate’

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C M Y K C M Y K ARTS THE TRIBUNE WEDNESDAY, DECEMBER 30, 2009, PAGE 11B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM N OW that he has firmly established himself on the local music scene, hip hop artist ‘Mr Beeds’ is making strides towards his international break-through whilew orking on his sophomore album. Mr Beeds, born Ricardo Wellington Forbes, has been keeping busy, and after having released t he video for his single “AaaC hoo” he is already working on h is next video. He says his long-term goal as an artist is to “travel the world and inspire people to make this world a better place.” So far, he has already performed in the Cayman Islands and in Florida. His debut album, “Peak State”, has been described as “a socially conscious tour de force of culture and faith.” In his singles such as “Hands Up”, “Life”, “Aaa-Cho” and “Never Knew”, Mr Beeds uses his parable style story-telling skills and comedic commentary to express his reflections on life. Mr Beeds has also been developing his other creative skills. He is a guitarist as well as an actor, script writer and director who has done work in the Bahamian film industry. Influenced and inspired by a variety of artists such as Marvin Winans, Wyclef Jean, Outkast, P Diddy, Gnarls Barkley, Capleton, Jonathan Butler and Michael Jackson, just to name a few, Mr Beeds has created his very own style. The artist’s fun, honest and eccentric personality translates into what he calls “inspirational music with a touch of comedy.” Born and raised in Nassau, the 32-year-old hip hop artist attended C C Sweeting secondary high school and the College of the Bahamas where he obtained a degree in agriculture. His father supported his choice to enter the music industry and his mother encouraged Ricardo to join the church choir so he started singing from an early age. Ricardo explained how he came by the alias ‘Mr Beeds’: “I had a favourite pair of beads that I wore a lot when I was much younger. A friend started calling me Supabeeds then it evolved into Mr Beeds. Some people still call me Supabeeds today.” Mr Beeds said he is always inspired by his fans, especially when he hears about his music helping to change lives for the better. He aims to bring across a message of hope and utilises his Bahamian dialect to do this, while still making his songs accessible to international listeners. Mr Beeds says music is his life and his life experiences make his music, always coming straight from the heart. Mr Beeds making strides

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C M Y K C M Y K I N S I D E New kid on the block See page nine Mr Beeds making strides See page 11 By REUBEN SHEARER Tribune FeaturesR eporter r shearer@tribunemedia.net NUDITY is depicted in ar t pieces in gal l eries all around the w or l d. And no w this par ticular subject, w hich often attracts controversy in the artw o r ld, is coming t o Nassau. Next month, Antonius R oberts is sure to cause a stir when opens his new exhibition,e ntitled ‘The Naked Truth’, which will feature paintings and sculptures of naked women in various degrees of exposure. Some people who see the pieces will be completely “turned off” by them, Mr Roberts told Tribune Art . But he feels that this exhibition is something that has to be done in order to start a dialogue on pertinent issues in Bahami-a n’s minds. Mr Roberts approaches his sculptures and paintings with the intent of having fun splashing,s craping, pushing, pulling, dripping, wiping and carving his wayi nto a state of animation. Intuition and his visual sensibilities click in, then the dialogue begins. One of the Bahamas’ most noted artists and sculptors, Mr Roberts said he is motivated by a personal philosophy that can be briefly described as ‘conservation, transformation and preservation’. These words are well illust rated by his famous Sacred Space concept. ‘Sacred’ is a word he uses a lot and it is a word intended tor eflect his spiritual inspiration, his own creative freedom ofe xpression and his desire to inspire others to preserve those things that should be left intact to bear witness to their cultural heritage. At a preview of his latest exhibition in a studio and gallery on Prospect Ridge, Tribune Art got to see that Mr Roberts is not t iptoeing around the issue of nudity in any way. And he quickly explained his reasons for creating his n ude art: ‘the truth’ D k N a e The Tribune SECTIONB “If you go into the Sistine Chapel you will see Michaelangelo’s the ‘Creation of Man,’ the individual featured is nude. If you look at a lot of biblical images used in church es, many of them reflect nudity which is the essence of man.” “I am intentionally not being specific or trying to be illustrative, because it is important for other people to add their voices,” said Mr Roberts. “Where you are, whatever your experiences are, you should bring them with you when you see my work.” When asked to break down his vision for the pieces, he declined. “You interpret what you see. Each piece should be surveyed based on your experience and what you bring to the work.” The whole idea is to have exhibits that will get the public’s attention and help them see art in a different light, he said. “I try to make something interesting out of the things people discard.” While all pieces show women doing different things in the nude, none of Mr Roberts’ paintings are erotic in nature. Mr Roberts’ desire is to have the art experience become meaningful at every level, intellectually, aesthetically , emotionally and spiritu ally. “I’ve used a lot of women in my work,” he said. “This whole image of the perfect woman, or this essence of beauty is what sells and captures people’s attention.” ‘The Naked Truth’ exhibition will be on display in the lobby at the Central Bank of the Bahamas from January 11 to February 12, 2010. And while there’s no official opening, Mr Roberts looks forward to the day the public will be able to view his latest work. The exhibition seeks to touch on hot button issues in the community. “Such issues are the marital rape law, capital punishment, gender identity and the position of the church in all of this,” Mr Roberts said. He questions whether we as a people are comfortable talking about the state of affairs in our country and globally. And this upcoming exhibition isn’t the first time he’s dealt with nudity. “This body of work is not for sale, it is just my response and reaction to what is happening in the communi ty today,” he said. “As a citizen of the Bahamas, I’m just lending my voice to it, not mak ing any judgment call.” Mr Roberts said he doesn’t want to pass the blame on anybody. He promotes his works to continue the public dialogue so he can get to the core of how to debate these issues, and find a solution. “Most of my exhibits are about making a social statement,” he said. “All of us need to use whatever talents and/or resources that we have to deal with the concerns that are prevalent in our society today.” The pieces of in ‘The Naked Truth’ exhibition will have individ ual titles and Mr Roberts expects people to also react to those. “A lot of these things are happening behind closed doors and we are not talking about them,” he said. Explained on of the paintings, which depicts a bap tism, featuring a woman with her bare breast, the artist said: “For me it was the whole image of an innocent young lady in an archway, that sort of mirrors the holy archways that you see in churches.” Behind this woman there’s an older man holding a Bible, reading the Psalms. She’s standing within the space, and they’re both within close proximity. “There’s a connection and dialogue that is happening here. That relationship and dialogue that is happening in society between older men and younger women.” Mr Roberts said that because he as an “artist’s license”, he can take as many liberties as he likes to express through the brush and paint a unique vision about cur rent issues that are not openly spoken of as often as they should be. WEDNESDAY, DECEMBER 30, 2009 ‘This whole image of the perfect woman, or this essence of beauty is what sells and captures people’s attention.’ – Antonius Roberts – CONDEMNED WITHOUT WINGS ANTONIUS ROBERTS DISCUSSES HIS 'BAPTISM' PIECE.