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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Full Text
Pm lovin’ it

HIGH
LOW

Volume: 106 No.119

‘Relative payments’

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SUNNY AND







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SSSI tt



Woman pleads not
guilty to charges

A PARENT accused of
assaulting and threatening a
public school teacher was
arraigned in a Magistrate’s
Court yesterday.

Police have charged Thalia
Vanessa Duncombe, 33, of
Faith Avenue with assaulting
Eloita Hamilton, a teacher at
Anatol Rodgers High School.

The incident is alleged to
have taken place on Tuesday,
April 13.

It is also alleged that on the
same day, Duncombe made
death threats to Hamilton and

caused damage to a $59 pink
necklace.

Duncombe, who appeared
quite subdued, was taken
under police escort from the
Central Police Station in East
Street to Court Six in Parlia-
ment Street yesterday after-
noon, where she appeared
before Magistrate Ancella
Williams and a courtroom
packed with spectators.

She pleaded not guilty to
the charges and opted to have

SEE page 11

COB and union no
closer to agreement

PUBLIC dialogue between the College of the Bahamas and
the Union of Tertiary Educators of the Bahamas towards
securing an industrial agreement has not improved today, the

last day of classes.

Although the two groups have continued to negotiate despite
UTEB’s ultimatum to withdraw labour, both continue to make
and refute claims against each other’s intentions and character
and are still without agreement on a number of critical items.

The College of the Bahamas has maintained that no salary
payments will be made to participating union members for

the duration of a strike.

Anticipating the union strike on Monday, the first day of final
exams, alternate invigilators have been established and students
are advised to attend all their scheduled examinations.

SEE page 11











USA TODAY aire

BAHAMAS EDITION



www.tribune242.com

FRIDAY, APRIL 16, 2010

y teacher

FIREFIGHTERS at the
scene of the fire on
Theliase" Boulevard.

By NOELLE
NICOLLS
Tribune Staff
Reporter
nnicolls@
tribunemedia.net

A FIRE destroyed
the entire Thompson
Boulevard factory of the
family owned business,
Imperial Mattress, yes-
terday.

An alarm system
alerted the proprietors
of the blaze. They con-
tacted the police shortly
before 3am Thursday.

“When the (fire ser-
vices) got there they met
the entire building
engulfed with flames.
They were able to con-
tain it within a relatively
short period of time,”
said Sergeant Chrislyn
Skippings, police press
liaison officer.

SEE page two

OT ae
ms

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BAHAMAS BIGGEST

Parent accused of



PRICE —75¢ (Abaco and Grand Bahama $1.25)



SEE PAGE NINE

Officer who shot
Brenton Smith
‘changed account
of the shooting’

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net





THE police officer who fatally shot Brenton



Smith came under fire yesterday for changing his
account of the shooting after hearing evidence in
court, an inquest heard.

Coroner William Campbell highlighted how
Detective Corporal Kelsie Munroe reported in his
written statement how he had first encountered the
teenager face to face at a break in the wall leading

SEE page eight















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Former Minister: more
detailed research needed
before land law changes

AS THE government prepares to amend a
number of laws relating to generation and com-
monage land, a former Minister with responsi-
bility for the area said that more “detailed”
research should first be conducted before any
amendments become law.

In yesterday’s Speech from the Throne, deliv-
ered by Governor General Sir Arthur Foulkes, it
was said that the government would be creating
a Land Adjudication Bill to permit the certifica-
tion of fee simple title to generation and com-
monage land.

The issue of how to deal with generation and
commonage land is a problem with which law-
makers have battled for years. And as George
Smith, the former Minister of Lands in the first
PLP government, said, any “new solutions” that
this government will be putting forward must
take into account not just this generation, but

SEE page eight

MARSHALLTOWN

The Premier Line





Volcanic ash forces BA
Nassau flights cancellation

BRITISH Airways, the only airline pro-
viding direct flights between the UK and
The Bahamas, has cancelled its flight to and
from Nassau today because of the volcanic
ash spreading across northern Europe after
the volcanic eruption in Iceland.

In an unprecedented move, British
National Air Traffic Services yesterday
grounded all but emergency flights in and
out of the UK — a step also taken in other
countries, including Ireland, Denmark, Nor-
way, Sweden and Finland and the Nether-
lands as a result of the eruption.

Yesterday evening a British Airways
(BA) spokesperson advised that all BA
flights scheduled to leave the UK before
noon today would be cancelled. This result-
ed in the cancellation of the BA0253 Lon-

SEE page eight





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PAGE 2, FRIDAY, APRIL 16, 2010 THE TRIBUNE

Tributes paid to late

former Chief Justice
at the Supreme Court



THE FAMILY of the late Sir Joaquim Gon-
salves-Sabola and members of the legal fraternity
gathered for a special sitting of the Supreme Court
yesterday to pay tribute to his memory.

Sir Joaquim, affectionately known as “Sir Joe”,
served as the country’s Chief Justice from 1989 to
1995 before being appointed as Court of Appeal
President — a post he held until his retirement in
1999. He also served as a consultant for the firm of
McKinney, Bancroft and Hughes.

Brian Moree, senior partner of the firm,
described Sir Joaquim as a man who he held in the
highest esteem.

"He was a man who possessed the rare combi-
nation of character and ability, he was the quin-
tessential judge. He was a man of quiet dignity,” Mr

Moree said. “He contributed greatly to the devel-
opment of jurisprudence in the Bahamas.

“He was one of the finest and most distinguished
jurists in the region.”

Chief Justice Sir Michael Barnett described Sir
Joaquim as a “scholar of the law.”

“He was a jurist not afraid to push the enve-
lope in the course of justice,” he said.

Sir Michael noted that Sir Joaquim was influ-
ential in the preparation of the Supreme Court
Act as well as the Judge’s Remuneration and Pen-
sions Act.

Also paying tribute to his memory yesterday
was Attorney General John Delaney, who
described Sir Joaquim as having “excellent judicial
temperament and demeanor”.





FIRE DESTROYS IMPERIAL
MATTRESS FACTORY

FROM page one

Police are still investigating
the cause of the fire.

“Tt is too early to tell how
much of a set back this is for
our business. We do not have
a temporary location to
assemble our manufactured
goods at this time and from
the extent of the fire we
doubt any of the machinery,
equipment or raw material
are salvageable,” said Ralph
Barnett, Imperial Mattress
owner.

While the building was
totally destroyed, police do
not suspect any injuries at this
time. “Our knowledge was
that no one was in the build-
ing,” said Sergeant Skippings.

Mr Barnett said inside the
factory were finished mat-
tresses, box springs, pillows,
raw material, machinery,
office furniture and other
equipment. The value of the
lost property has not been
determined as yet.

“We plan to fill outstand-
ing orders from supplies at
our warehouse. This is an
unfortunate and unexpected
situation in which we find our-
selves at this time. We would
like to thank all of our loyal
customers who have support-
ed us over the past 37 years
and hope they will continue

TROPICAL
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FOR PEST PROBLEMS
PHONE: 822-2157



to support us in the future,”
he said.

Around midday yesterday,
police were still trying to
extinguish fire that was burn-
ing in certain portions of the
interior. Their efforts during
the day were hampered when
the roof of the building caved
in.

Imperial Mattress started
as a small company with three
employees and one location
on Mackey Street. It now
employs over 30 people in
multiple locations, still retain-
ing two of the original
employees.

No disruptions are expect-
ed in the operations of other
locations, although the sup-
ply of new beds and furniture
may be hampered with the
lossof the manufacturing
plant.





A FIREFIGHTER tackles the
blaze at the Imperial Mattress
factory. The blaze destroyed the
entire factory on Thompson
Boulevard.

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Senior Manager,
Accounts














FAMILY GUARDIAN

INSURANCE COMPANY LIMITED ——=#3te_—

ms strongth inn

Sy RET Le SNC tov UVLO dO el SATO



















Beryn Neeley appointed S

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

Mr. Neeley achieved a Bachelor of Arts de award.

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

INDEX

MAIN/SPORTS SECTION

Accounts, at Family Guardian

Patricia Hermanns, President & C
Guardian has announced the appointm

Neeley to the position of Senior Manager,

Commerce and Economics atthe Universi
Toronto, Ontario, Canada; he is also a Ce
Accountant. Mr. Neeley has much ex
commercial and offshore banking in whic

various roles inthe accounting and fin

Family Guardian welcomes Mr. Neeley t

BUSINESS SECTION
Business

CLASSIFIED SECTION 32 PAGES

USA TODAY MAIN/SPORTS 12 PAGES



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



THE TRIBUNE

LOCAL NEWS

FRIDAY, APRIL 16, 2010, PAGE 3



Call on Christie
to pick ‘hest
and brightest’
for election

AS the Progressive
Liberal Party continues
to roll out its slate of
candidates for 2012 gen-
eral election, a former
PLP Cabinet minister is
calling on opposition
leader Perry Christie to
ensure that the party is
picking the “best and the
brightest” to offer to the
Bahamian public.

In a memorandum
issued to Mr Christie,
former MP for Exuma
George Smith said the
new candidates must
possess the qualities of
“patriotism, intelligence,
integrity, humility, com-
passion, passion, person-
ality, communicative
skills, commitment and
courage”.

“It would be perilous
to nominate anyone at
whose feet charges of
corruption, greed, self-
ishness, arrogance, aloof-
ness, ignorance, could be
justifiably laid.

“You must guide the
process to ensure that
the Bahamas gets a gov-
ernment worthy of the
people’s hopes and aspi-
rations. If we fail to do
so, we would evoke the
people’s wrath,” he said.

Mr Smith said “deci-
sive action” must be tak-
en with complete hon-
esty and transparency in
order to restore the
respect and goodwill of
the Bahamian people
towards the PLP.

“Re-commitment to
the core values of the
PLP is vital. This must be
done, first and foremost.
It must start with your
own self-examination
and renewal. You must
then require all party
leaders, operatives, and
supporters to follow your
lead. Each candidate
must pledge to promote
the principles of the par-
ty throughout the coun-
try.

“In this way we will
grow in solidarity with
each other, with our peo-
ple and we will deepen
our values and commit-
ment to the party and the
country,” Mr Smith said.

Two in hospital
after stabbing
incidents

POLICE are investi-
gating two stabbings
that took place on
Wednesday afternoon.

The first occurred at
4.20pm in Elizabeth
Estates when two broth-
ers, ages 21 and 25, got
into an altercation
which resulted in the
younger sibling being
stabbed in the back.

The victim was taken
to hospital by ambu-
lance. No information
on his condition was
available up to press
time.

About 20 minutes lat-
er, officers were called
to Thompson Lane off
East Street, where
another altercation led
to a 25-year-old man
being stabbed in the
stomach.

He was taken to hos-
pital and is listed in sta-
ble condition.

FIREARM/
DRUG ARREST

A 27-year-old man
and an 18-year-old
woman were arrested on
Wednesday in connec-
tion with a drug and gun
find in Elizabeth
Estates.

Officers executed a
search warrant ona
home in Cyprus Court
just before 10pm and
found a high-powered
rifle, two handguns, a
bullet proof vest and a
quantity of marijuana.

Police are investigat-
ing.



Anti-crime advocates, lawyers
react to bail limits proposal

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

ANTI-CRIME advocates
and lawyers are at odds over
the government’s proposal to
further restrict who can be
granted bail by the courts as a
means of addressing the crime
problem.

Invited guests applauded at
the opening of parliament on
Wednesday when Governor-
General Sir Arthur Foulkes
announced that the govern-
ment would amend the Bail
Act to further restrict the
right to bail for persons
charged with serious crimes
and limit the circumstances
under which bail can be grant-
ed.

The Speech from the
Throne, which outlines the
government’s legislative agen-
da ahead of a new session of
parliament, prefaced this
announcement by noting that
“a number of persons who
commit crimes do so whilst
on bail pending trial for other
offences.”

The granting of bail to peo-
ple charged with serious
crimes has long been a topic
of heated debate, especially
in cases where those individ-
uals go on to commit further
crimes or intimidate witnesses
or victims.

However, law practitioners
have noted that the Bail Act
already states that bail should
be denied to people charged
with murder and armed rob-
bery and expressed concern
about the extent to which it
is possible for the government
to successfully restrict the
granting of bail through
changes to the law, or with-
out a constitutional amend-
ment brought about through a
referendum vote.

Presently, Supreme Court
judges typically grant bail
notwithstanding the restric-
tions that exist in the Bail Act
on the basis that the consti-



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ae

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GOVERNOR GENERAL ei Antti sue ae oe the aaron ale amend the Bail Act

tution provides for the right
to bail for persons who cannot
get a trial in a “reasonable”
period of time, generally
deemed to be around two or
three years — a typical sce-
nario due to the backlogged
court system.

It is not yet apparent how
the proposed amendment
would “get around” the fact
that the constitution provides
for the release on bail of
defendants who cannot be
tried in a timely fashion.

Messages left for Minister
of National Security Tommy
Turnquest yesterday seeking
comment on the matter were
not returned up to press time.

Nevertheless, anti-crime
advocates such as Bishop
Simeon Hall, chairman of the
National Advisory Council on
Crime, welcomed the
announcement as a concrete
step towards addressing the
crime problem.

Bishop Hall commended

Mr Turnquest and said he
hopes the amendment will cut
down on the “havoc” being
wrought by a minority of
hardened criminals.

“When we did the crime
commission that was particu-
larly of concern to our com-
mission (the number of peo-
ple being released on bail who
go on to commit further
crimes). I am pleased to see
the government taking the
talk out of thin air and turn-
ing it into action as it relates
to the Bail Act,” said the
bishop.

“Draconian measures must
be taken in these times of
high criminality where crimi-
nals are wreaking havoc on
our society,” he added, not-
ing in response to concerns
about the constitutionality of
any amendments that he feels
the constitution “should serve
the people rather than the
people serving the constitu-
tion.”

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“Right now we have a cou-
ple hundred men wreaking
havoc on Bahamians and we
have to fix that,” said Bishop
Hall.

But given the stipulations
about bail in the constitution,
one prominent attorney with
many years of criminal law
experience suggested that the
matter is more a question for
judges than politicians.

He said the legal establish-
ment needs to have more con-
cern for what is happening to
society and stop granting bail

individuals who are
aie with serious crimes
or who appear likely to offend
while on bail.

The attorney, who wished
to remain anonymous, noted
that up until the early 1990s it
was “quite rare” for judges to
grant bail for people charged
with murder in particular.

He said judges need to
rethink what they are consid-
ering a “reasonable” period
of time “against the back-
ground of everything that’s
going on in society.”

“You have to see where the
line can properly be drawn
and given all factors prevail-
ing — including inescapable
evidence that much of the
serious crimes are being com-
mitted by people on bail hav-
ing been charged with serious
offences — and considering we
have this constitutional man-
date to make a judgment, as
to what is a reasonable time,”
said the attorney.

Lawyers whose clients are
asking for bail must stop try-
ing to persuade a judge if they
have good reason to consider
that the client may reoffend,
among other things, he added.

“Everyone needs to have a
little bit more concern about
the general good of the com-
munity. Your client is always
asking you to do this, do that
and the other. You have to
start off with what is right and
proper. If you think it is right
and proper that your client
should get bail, then go ahead
and try to persuade the
judge,” said the attorney.

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PAGE 4, FRIDAY, APRIL 16, 2010

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352

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

Wednesday’s Throne Speech not the shortest

YESTERDAY’S six-page Throne Speech,
read by newly-appointed Governor-general
Sir Arthur Foulkes at the opening of parlia-
ment Wednesday, was the shortest in living
memory. Or so said the commentators.

We can only conclude that “living memo-
ry” among Bahamians must be very short
these days as the shortest Throne Speech
that we can recall was delivered on October
24, 1988 during the Pindling administration.

That speech consisted of six short para-
graphs, including the salutation and prayerful
conclusion. It was so short that it was almost
lost on one page.

It was “delivered” at a tme when the late
Sir Henry Taylor, a very ill man, was gover-
nor-general.

He was incapable of reading anything.
Someone — again drawing on memory —
claimed that the government kept the speech
to a few short paragraphs so that Sir Henry
could memorise it. However, it was believed
that when delivery time came, Sir Henry had
to ad lib because he had forgotten what he
was programmed to say.

Whether this is true or not we do not know
without further checking Tribune files.

However, the minutes of the House reflect
that something must have gone wrong during
delivery because Hansard reported:

“The House accordingly attended, and
having returned, Mr Speaker reported that
His Excellency had been pleased to open the
Session with a (here there is a blank space) of
which to present mistakes he had obtained a
copy which he read from the Chair as fol-
lows —”

We believe that the word “present” is an
error and should have read “of which to pre-
vent mistakes he had obtained a copy which
he read from the Chair.” In other words the
Speaker was re-reading Sir Henry’s speech to
members of the House to prevent any mis-
understanding.

Here is what Sir Henry should have said
on Monday, October 24, 1988 in the Senate
chamber, where House members were sum-
moned to attend.

“Mr President and Honourable Senators,
Mr Speaker and Members of the Honourable
House of Assembly.

“My Government will continue to make
every effort to improve the quality of the life
of the Bahamian people.

“My Government will ask you to approve
the Parliamentary Pension Bill and the
Administration of Estates Bill.

“Legislation to modernize the company
laws, to provide incentives for Family Island
development and to enhance the interna-
tional reputation of The Bahamas as a finan-





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PRE-OWNED CARS & TRUCKS

cial centre as well as other measures will be
put before you.

“Mr President and Honourable Senators,
Mr Speaker and Members of the Honourable
House of Assembly:

“T pray that the blessing of Almighty God
may rest upon your counsels.”

And so ended what could possibly have
been the shortest Throne Speech in Bahami-
an legislative history.

Sir Arthur’s six pager was a marathon by
comparison, and, as Dionsio D’ Aguilar, for-
mer Chamber of Commerce president, point-
ed out — as an accountant he considered gov-
ernment’s attempt to deal with 35 Bills “an
ambitious agenda”, especially considering
that only 18 months were left to the life of the
current House.

However, like other critics, he would have
liked to have had government expand more
fully on the direction it was taking so that
there could be more input from the private
sector.

Philip Smith, a former High Commission-
er, who was one of a panel of three com-
mentating on the speech, was extremely dis-
appointed that government did not outline its
programmes so that businesses and others in
the community would know how to plan for
the future.

However, former House Speaker Italia
Johnson, saw it differently. She did not think
that such speeches should be long. She would
prefer to see less verbiage and more hard
work — in other words, settle down and get
the job done, don’t waste breath on saying
what you plan to do.

She pointed out that Wednesday’s six-
pager was certainly not the shortest that she
had seen as House Speaker. She recalled one
that was a few words on a page. She must
have been referring to Sir Henry’s Speech.

In one short paragraph the government
made it clear on Wednesday the path it was
taking: It was firmly “committed to the mod-
ernization of government and the delivery
of improved public services.”

To do this it has put before the House
“an ambitious legislative agenda of reform
and modernization.”

It has listed the 35 areas on which it plans
to focus its attention, one of which is the Bail
Act, which will be a popular item with the
public many of whom are concerned about
the number of persons with long criminal
records being released on bail by the courts
and who are continuing their life of crime
while awaiting trial.

And so on six pages much legislative work
has been outlined, which we expect both sides
of the House to come together to complete.





Action needed
now to address the

country’s problems
LETTERS

EDITOR, The Tribune.

Ordinarily I would not have
bothered to write and especial-
ly on the subject that I have,
over these many weeks, but
when the highest power wakes
me up in the middle of the
night with a story for His peo-
ple, it leaves me no choice but
to comply. Here’s His word to
the Commonwealth of The
Bahamas.

The world said to be in reces-
sion specific investments in the
Bahamas are now on the
decline: serious crimes at an
unacceptable level. To date,
there have been 22 murders, as
we come to the close of March
2010.

The declining levels of polit-
ical debates in our Parliament,
teenage pregnancies among
school age children are unac-
ceptable. Unemployment num-
bers also too high. Social deca-
dence all around. No clear
political direction. Neighbour-
hoods, now shanty towns. Pub-
lic transportation, in a state of
chaos.

The police being expected to
single handily resolve the prob-
lems of crime in our Bahamas,
when there must be a political
response in conjunction with
other agencies of government,
since it appears that parents
have failed.

The national debt of the
Bahamas pegged at four-billion
dollars (broken down is actu-
ally 4,000 million dollars).
These borrowings spans some
43 years — 1967-2010. Who will
pay this? Can it be paid? Where
will the money come from?
Have we been paying it? Do
we intend to pay it? Do we care
whether or not it is paid? Given
all of the talk among politicians
regarding fiscal discipline do
we know what it means? On
the one hand we talk about it,
but the truth is, the bare facts
bears out something complete-
ly opposite to what we’ve said.

Take for instance the
Bahamas Government and gov-
ernment related departments,
corporations and companies,
that are being housed in pri-
vately owned buildings and the
Bahamian tax payers having to
pick up the monthly/yearly tabs
for these arrangements made
by both political parties, Free
National Movement (FNM)
and the Progressive Liberal
Party (PLP) Why have we not
seen the wisdom to construct
our own buildings? While it
may be true that many of the
ministries are housed and/or
headquartered in Government
owned buildings, the truth of
the matter is that to a greater
extent very many of them are
not.

The Bahamian people
deserve to know what amounts
per month, the Public Treasury
pays out in rent? A perfect
example of the rich getting rich-
er, on the backs of struggling
Bahamian taxpayers.

God expects us to demon-

# Don Stainton (Protection) Ltd.

SERVING THE BAHAMAS SINCE 1978
HILLSIDE PLAZA, THOMPSON BOULEVARD
FREE ESTIMATES 322-8160/322-8219

letters@tribunemedia.net



strate good stewardship, as we
seek to manage his resources.
Both political parties negotiat-
ed these terms and accepted
the obligations apparently with-
out considering the long term
strain on the Public Treasury.

This reality leaves many to
wonder whether or not those
that were negotiating for and
on behalf of tax payers really
did have the people’s best inter-
est, and that of the Public Trea-
sury at heart? Evidenced by the
number of Government min-
istries, departments and corpo-
rations being operated from
leased premises: Here is a par-
tial list for New Providence,
only.

Listings for The Bahamas
Government and Government
related Departments Corpora-
tions and Companies

¢ Auditor General Office of
the Auditor General - 1st floor,
Norfolk House;

¢ Bahamas Electricity Cor-
poration — Mall-At-Marathon;

¢ Bahamas Environment Sci-
ence & Technology Commis-
sion — Nassau Court;

¢ Bahamas Information Ser-
vices - East Bay Street;

¢ Bahamas Telecommunica-
tions Company Limited —
Mall-At-Marathon;

¢ Cyberworld (Bahamas) Ltd
- The Old Mike’s Shoe Store
Bldg;

¢ Compliance Commission -
Charlotte House;

¢ Deputy Prime Minister
Office of the Ministry of For-
eign Affairs Goodman’s Bay
Corporate Centre;

¢ Consular Division - Min-
istry of Foreign Affairs, Nor-
folk House;

¢ Hotel Corporation of The
Bahamas - Marlborough &
Navy Lyon Road;

¢ Judiciary - British Ameri-
can Bank Bldg;

¢ Registrar of The Supreme
Court - Ansbacher House, East
Street and Bank Lane;

¢ Department of Meteorolo-
gy - Crawford Street, Oakes
Field;

¢ Public Utilities Commis-
sion - 4th Terrace East Centre-
ville;

e Registrar General’s
Department - Civil Registry,

Apfley House;

¢ Corporate Registry - 50
Shirley Street;

¢ Data Management Section
- British Colonial Hilton;

¢ Royal Bahamas Police
Traffic Division - Old Ware-
house Building;

¢ Royal Bahamas Police
Tourism Division - Old Bay
Street, Garage Building;

¢ Securities Commission of
the Bahamas - Charlotte
House;

¢ The Insurance Commission
of The Bahamas - Charlotte
House;

¢ Hotel Licensing - Nassau
Court;

¢ Industry Training Division
- Tourism Training Centre,
Norfolk House;

e Treasury Department -
British American House;

e Water & Sewerage Corpo-
ration - Mall-At-Marathon;

¢ Social Services Department
- Outreach Centre VB
Munnings Building, Pitt Road;

¢ Office of the Original
Opposition - Bayparl Building;

¢ Office of the Speaker of
the House of Assembly - Bay
and Parliament Streets.

There was one such arrange-
ment for which I was able to
get the figures: This particular
property values around
$600,000, but the lease was
pegged at $10,000 per month.
This arrangement has been
ongoing for 15 years plus.
Doing the math $10,000 x 12 =
$120,000 x 15 years =
$1,800,000.

Why have we not seen the
wisdom to construct our own
facilities?

Shifting gears, we cannot dis-
pel the variety of the serious
crime issues in the Common-
wealth of The Bahamas, and
the need to fix The Bail Act? If
no reparations are undertaken
expeditiously chances are the
killing and armed robberies
may continue unabated.

This, my fellow Bahamians,
will impact the national secu-
rity of the Bahamas. If we do
not believe or think so the Gov-
ernment of the United States
of America might.

The time is now, action must
be now. There is no waiting
until tomorrow, it must be done
now.

F GILBERT
Nassau,
April, 2010.

et AUT OT Cag

EDITOR, The Tribune.

in your paper.

and it would be done.

BILLY SANDS
April 14, 2010.



I would be grateful if you would allow me a couple of lines

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isn’t like you don’t know where they are. It is much like the
ramp at Montagu, it just needs someone with the will who is will-
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THE TRIBUNE

Policies to protect against child abuse |

numbering effort

FRIDAY, APRIL 16, 2010, PAGE 5

LOCAL NEWS

claims advised for daycare centres

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



DAYCARE centres and preschools
are being advised by their governing
association to put in place polices to
protect against claims of child abuse.

Kris Sandiford, president of the
Bahamas Childcare and Preschool Asso-
ciation (BCPA), said daycare centre
employees should always wake children
when they arrive, and again just before
returning them to their parents. “That
would resolve a lot,” said she said.

Ms Sandiford said there are often inci-
dents where a child has a scratch, bump
or a broken skin prior to its arrival at a
daycare centre.

If daycare workers do not make “a
quick examination” of the children they
accept, they expose themselves to lia-
bility, she said.

Ms Sandiford was speaking following
reports of the death of baby Joeshua
Tramaine Swaby, which the parents
allege took place at a New Providence
daycare centre.

Police are investigating the parents’
claim that they collected their three
month, three week old baby from the
daycare centre in an “unresponsive
state” on April 9. The infant was pro-
nounced dead on arrival at the Princess
Margaret Hospital.

Minister: Road
improvement
projects ‘are

a govt priority

The parents are raising questions
about the conduct of the daycare centre,
claiming no authorities were contacted
about the condition of their child.

“We both love God and believe in
the power of God and the power of for-
giveness. If the persons came honestly
and respectfully we may have accepted
it, forgiven and moved on, but none of
that has occurred as yet,” said Gary Swa-
by, Joeshua’s father.

“T am certain the people who operate
the nursery out of common courtesy
could have swiftly and immediately
made contact with the parents and a
physician at the nearby clinic.”

Police

The police have already questioned
the baby's family members and employ-
ees at the daycare centre. They are wait-
ing for an autopsy report to gain more
insight into the cause of death.

Officers have not indicated they sus-
pect foul play.

The nursery is not registered with the
Ministry of Education, although it is in
the process of being registered. It is not
a member of the BCPA.

The last high-profile infant death at a
daycare centre was the 2003 death of
baby Justin Aranha, who died at Hosana
House.

Eight-week-old Justin was suspected
to have suffocated after his feeding at
the nursery. The family was told of the
death nearly four hours after it hap-
pened.

This incident resulted in a coroner’s
inquest. The preschool in question is no
longer in operation.

More then 10 years ago there was a
death at the Infant Education Centre in
Centerville, now closed.

“The newspaper and media really just
slandered the school. When they did the
autopsy they found out that the dead
baby was brought to the school by the
parents,” said a source familiar with that
incident.

In 2004, the government passed the
Early Childhood Care Act to provide
for the regulation and management of
daycare centres and preschools.

The Early Childhood Care (National
Standards) Regulations, 2009 Bill is at
the attorney general’s office being
processed before it is presented to Cab-
inet.

The Bill will establish a Preschool and
Daycare Centre Council and set out the
requirements for licensing and registra-
tion.

“This Act was first requested to be
developed by the now prime minister
from 1997. In years past there was a
proliferation of preschools and as a
result there needed to be some moni-

toring and some regulation. We wanted
to see persons that are trained taking
care of children,” said Agatha Archer,
senior education officer for early child-
hood education in the Ministry of Edu-
cation.

There are about 300 preschools reg-
istered with the Ministry of Education,
although across the Bahamas there are
probably about 2,000 facilities in total,
according to Ms Archer.

“We wanted to know (preschools)
were complying with heath and safety
standards and that they had a good,
sound curriculum. Those are some of
the parameters as to where it came
from,” said Ms Archer.

Ministry

Although the Ministry of Education is
looking into the recent infant death, Ms
Archer said the matter is ultimately the
responsibility of the police.

She said parents are advised to select
preschools carefully and should make
sure they use registered centres.

The Ministry of Education called an
emergency meeting to discuss the recent
incident.

“Tt is a tragic loss but it is an oppor-
tunity now for caregivers to be more
professional and to change the policies in
their centres,” said Ms Sandiford.



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FOLLOWING com-
plaints about the length of
time it is taking to complete
the new Saunders Beach
roundabout, Minister of
Works and Transport Neko
Grant emphasised that the
ongoing road improvement
projects are a priority for
the government.

“We are conscientious of
the fact that traffic needs
to flow and that persons
need to get to places where
work is being done, so traf-
fic management is a major
component of this exer-
cise,” he said.

“We wish to assure the
public that we do not seek
to inconvenience them and
we seek to keep inconve-
nience to a minimum.”

Following a presentation
on April 9 outlining the
progress of the New Provi-
dence Road Improvement
Project (NPRIP), Mr Grant
toured sites including Saun-
ders Beach, Bethel
Avenue, Market Street and
Baillou Hill Road where
works are being carried
out.

Also on the tour were
representatives of the Min-
istry of Works, the Inter-
American Development
Bank and Jose Cartellone
Constructiones Civiles, the
contractors.

The NPRIP is a major
component of the New
Providence Transport Pro-
gramme and is funded by
the Inter-American Devel-
opment Bank and the gov-
ernment. The Project Exe-
cution Unit of the Ministry
of Public Works and Trans-
port manages the project.

Mr Grant said the round-
about at Saunders Beach is
progressing quite well and
all indications are that it is
going to improve the traffic
flow in that area consider-
ably.

“Within the next week to
10 days we should begin
planting the grape trees
that will replace the trees
that have been taken out,”
he said.

Work on the corridor
between Thompson Boule-
vard and Saunders Beach
is also progressing well and
could be finished ahead of
the schedule, Mr Grant
said.

“We also looked at Mar-
ket Street and contrary to
reports of some radio
announcers that signs were
in the wrong direction, hav-
ing inspected them person-
ally today, we know that is

not the case. All signs are
in place at all the junctions.
We also seek to improve
the conditions by putting
down road markings,” Mr
Grant said.

He said the 14 side







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Call for public's
help in building

THE government is asking

: for the public’s support and
; co-operation as the effort to
: number all houses and build-
: ings in New Providence con-
: tinues.

The Ministry of Works and

: Transport, which is carrying
: out the project, is asking home
: and business owners to grant
: its agents access to all proper-
: ties for the installation of
: plaques bearing the assigned
: numbers.

In a statement issued yes-

: terday, the ministry empha-
: sised that the workers assigned
: this task will be carrying prop-
: er identification and that “due
: care will be taken not to dam-
? age the owners’ property”.

Each person installing the

? numbers on homes or build-
: ings has been instructed to
: produce an ID card that clear-
: ly indicates he or she is part
: of the Ministry of Public
: Works and Transport’s house
: numbering team, the state-
; ment said.

The Ministry said it has now

: completed the necessary field
: surveys in areas where there
: were buildings have not yet
: been numbered or were
: wrongly numbered in the past
: and commenced installing the
; numbers on Monday, April
: 15.

Phase 1 for the house num-

: bering exercise will cover the
: southeastern portion of New
: Providence that is bounded by
: Robinson
: Charles Drive in the north;
: East Street in the west, Fox
: Hill Road in the east and the
? sea in the south.

Road/Prince

“The historic exercise of

: correctly numbering the hous-
: es along with the street nam-
? ing project, when completed,
: would make it easier to locate
: streets, businesses and hous-
: es throughout the island of
: New Providence,” said the
} ministry’s statement.

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PAGE 6, FRIDAY, APRIL 16, 2010

NEWBOLD BROTHERS
CHAPEL

#10 Palmetto Avenue & Acklins Street
P.O. Box N-3572
Nassau, Bahamas
Tel: (242) 326-5773

FUNERAL SERVICE FOR

Ethmore Grace Newbold Seymour, 83

\ of Orange Creek, Cat Island
who died on April 10th, 2010,
will be held on Saturday,
April 17th, 2010, at 11:00
a.m., at St. Agnes Anglican
Church, Orange Creek, Cat
Island. Officiating will be Fr.
Chester Burton. Interment
follows in the Church’s
Cemetery, Orange Creek.

Left to cherish her memories
are: her son and daughter-in-law: Charles and
Madlyn Campbell; grandchildren: Kerry A.
Campbell, Lynette and Brian Conliffe; great
grandchildren: Jehovan Stubbs, Branette and
Brandon Conliffe; sister: Carrie Stubbs; brothers:
Arthur and Revis Stubbs; sisters-in-law: Althea
Stubbs, Betty Stubbs, Vernal Stubbs, Shirley Stubbs,
Lavada Larimore, Eleanor Stubbs, Norma Stubbs and
Evelyn Seymour; nieces and nephews: Barry Miller,
Jackie McDonald, Alma, Wendal, Trevor and Sheldon
Stubbs, Jeff, Mark, Deborah, Patty, Clarice, Kendra,
Nicole, Shawn, Keith, Neil, Eleanor, Elizabeth,
Charlene and Beryl; other relatives and friends:
Joshua and Melanie Stubbs, Maudlene Newbold,
Elsiemae Higgs, Cheryl Seymour, Keva Cartwright,
Byron, Keith, Dr. Winston Campbell, Samuel
Campbell, Mavis Thompson, Janice Munnings,
Christine, Sharon, James, Christopher, Patricia,
Eleanor and Rev. Carl Campbell, Nadene Beneby,
Brenda Simms, Rev. Sebastian Campbell and family,
Zilpha Campbell and family, Bishop Teuton Stubbs,
Christopher and Wentworth Stubbs and family, Virdell
Pinder and family, Ann, Sharon, Angie, Ashley, Roland
Brown and the Brown family, the McDonald,
Newbold, and King families, Helen Thurston and
family, Fr. Chester Burton and the Anglican family,
Eulamae Hepburn and family, Roland Seymour and
family, Arabella Stubbs and family, the Forbes family
and the entire Orange Creek Community.

Relatives and friends may pay their last respects at
the church in Orange Creek, Cat Island, Saturday



THE TRIBUNE

Sir Arthur Foulkes: an
ever present statesman

By ADRIAN GIBSON
ajbahama@hotmail.com

THERE is none more
deserving of the appointment
as the Bahamas’ eighth Gover-
nor General than Sir Arthur
Foulkes. Through all of the
changing scenes of our nation’s
life, Sir Arthur has been an ever
present statesman—in the truest
sense of the word.

Sir Arthur’s growing legacy
and influence has been, and
continues to be, indelibly cast
upon our country’s life as one of
the most remarkable figures in
the history of the local political
landscape and one of the archi-
tects of the modern Bahamas.
That said, I am elated to see
that this nation builder—this
great force of progressivism, to
whom I have long griped about
having his contributions under-
rated—has finally received the
recognition that he deserves.

Tam ecstatic to see that one
of the best kept secrets of
Inagua—indeed, of the
Bahamas—is being shared with
generations of Bahamians.

His Excellency Sir Arthur
Foulkes is one of the founding
fathers of our nation, who tire-
lessly fought in the struggle for
Majority Rule and played lead-
ing roles in elevating our nation-
al stature.

He is a great Bahamian who
has contributed significantly to
public service for most of his
life and, unlike many, has paid
the price of public life.

A first-class politician, Sir
Arthur has paid his dues in the
struggle, admittedly making sac-
rifices, so much so that there
were instances when he went
without a pay cheque, which
unfavourably affected his
household.

However, he endured several
setbacks in the name of his
country, standing strong on the
frontlines for empowerment
and a majority rule that he
doesn’t merely blabber about,
but one where—in some
instances— he paid a great
price.

My first encounter with this
journalist extraordinaire was in
2005. Upon reading his column

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ADRIAN

one morning, I realised that he
had mentioned a letter I had
written to the editor of The Tri-
bune —long before I had writ-
ten the first column for the
same newspaper.

A young college student at
the time, I must have called
every friend and family mem-
ber—between New Providence,
Long Island and elsewhere—
whooping and hollering about
how Sir Arthur had mentioned
me. I still have the clipping of
that column to this day. Shortly
thereafter, Sir Arthur and I
made contact and he and his
lovely wife Lady Joan Foulkes
invited me to dinner. The rest is
history.

Over the years, Sir Arthur
has taken a paternal interest in
me, establishing clear expecta-
tions of me while at times serv-
ing as my chief adviser and
mentor, offering advice from
issues related to my studies or
work to giving relationship
advice.

T have been entranced by Sir
Arthur’s personal success sto-
ry, his recollection of his early
life on Inagua and the early
years of the PLP and our vivid
discussions about life in the
political trenches. When I began
writing this column, he would
at times chide me for what
should have been easily identi-
fiable grammatical errors, urged
that I never overly rely upon an
editor to spot my errors, advised
me on the best approach to
addressing subjects of stature
in my columns and has excited-
ly offered praise—whether he
shared my perspective or not.

All-in-all, he has been one
of my greatest supporters and a
most sincere critic whose advice
has always been welcomed.

The new Governor General
was at the vanguard when the
FNM began as a small break-
away troop from the PLP,
standing strong and walking tall

Ola & ON

when being an FNM wasn’t in-
style.

He fought for the FNM to
become a formidable opposi-
tion and, today, a credible gov-
ernment.

The groundwork for the
FNM was laid in 1970 when Sir
Arthur, and seven other mem-
bers of the famed Dissident
Eight—led by Sir Cecil Wal-
lace-Whitfield—left the then
governing PLP, essentially tak-
ing the brain trust of that party
to form the Free PLP.

These non-conformists main-
tained that they broke away
because of the PLP’s fiscal mis-
management, governmental
impropriety and the creation of
circumstances that they felt
would increase joblessness.

In 1971, the Free PLP and
the UBP unified to form the
Free National Movement,
which became the official oppo-
sition in 1972. Early on, all was
not glossy within the FNM as
the organisation was confronted
by the inter-party splits, infight-
ing and instability that is typi-
cally associated with new polit-
ical parties during their forma-
tive years.

Many Bahamians are
unaware of the fact that Sir
Arthur initially advanced the
idea of establishing a national
airline although the execution
of this plan was botched when
he left the PLP.

Sir Arthur is no political
benchwarmer and he has never
been mired in the odorous mess
and skullduggery that has
enshrouded so many of his
political peers.

I have greatly admired His
Excellency’s phenomenal work
ethic, humility and quiet ele-
gance. He has always been a lis-
tener—never one to ride in on
his high horse and lecture. Pos-
sessing at times a quite humor-
ous and down-to-earth persona,
he speaks his truth quietly and

STEP



SIR ARTHUR FOULKES



clearly and is the embodiment
of class and virtuous living. He
is an honest broker.

Today, although Sir Arthur
in his early 80s, after witness-
ing him strolling around Parlia-
ment Square during Wednes-
day’s ceremonies, a friend said
she had no choice but to
describe him as “perpetually,
one cool brother.”

Undoubtedly, Sir Arthur
would not mind if I note that
in numerous conversations
we’ve shared, he has expressed
his disaffection for the appar-
ent adoption of a culture where
there continues to be little to
no accountability in government
departments and a public ser-
vice that is bloated with idlers
and malcontents who have a
poor attitude and only seem
interested in being on the pay-
roll. His social outlook is not
only noble but has professed a
genuine love for our country
and a strong interest in its
youth.

Arthur Foulkes has shown
fortitude during the countless
hours of toiling in the struggle
and, this island boy, has risen
to the pinnacle of holding our
nation’s highest office. He
brings a broadminded, interna-
tionally-exposed perspective to
the office and no doubt will do a
sterling job.

Sir Arthur is a giant of our
times and is continuing to have
an impact on our nation’s his-
tory. lam beaming with pride.

Sir Arthur—my dear friend
and father-like mentor — con-
gratulations, Your Excellency!

Society of Trust & Estate Practitioners (Bahamas)

In conjunction with

The Bahamas Financial Services Board (BFSB)

Will present a one day

Trust & Estate Planning Immersion Seminar

Topic coverage:

Trust Fundamentals-Sean McWeeney QC, Graham, Thompson & Co.

Indemnities in Deeds of Retirement & Appointment-Heather Thompson, Higgs & Johnson

Update on Industry Proposed Amendments to the Trustee Act, 1998 and the Perpetuities Act,
1995 -David Brownbill, QC, 24 Old Buildings, London (joining by video conference)

Reputation and Brand Management-Kerry Harris, CrossCap, Ontario, Canada

Developments in Matrimonial Law in the Context of Trust and Estate Planning-Metta

McMillan-Hughes, Lennox Paton

Foundations and the proposed Bahamas Executive Entity: Alternative Estate Planning Tools-
Aliya Allen, Graham, Thompson & Co.

Time: 8:30 am to 4:00pm
Date: Tuesday, April 20, 2010

Venue: **SUPERCLUBS BREEZES**

Session price: $150.00 per person

RSVP by: Monday, April 19, 2010
To: BFSB Tel: 326-7001
Or info@bfsb-bahamas.com

* Response is required by deadline stated above as accommodations will be limited.

Disclaimer

The views and opinions expressed by presenters at STEP-sponsored events or in STEP-sponsored publications are not
necessarily the views and opinions of STEP, its officers, or any of its constituent members. In particular, the fact that STEP
may provide a forum for, or may otherwise facilitate the expression of, such views and opinions should not be interpreted to
mean or imply that STEP accepts, adopts, or encourages the acceptance or adoption of any of such views and opinions either

wholly or in part.

ms
Ss ITE P YA

J BAHAMAS
FINANCIAL

SERVICES BOARD

STEP BAHAMAS, Goodman's Bay Corporate Centre, Ist Fl., P.O. Box N-1764, Nassau, Bahamas
Tel: (242) 323-6612 * Fax: (242) 326-7007 * robyn@stepbahamas.org

ROR RR OK OK KK OK KOK



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



PAGE 8, FRIDAY, APRIL 16, 2010

LOCAL NEWS

THE TRIBUNE



FROM page one

from the Village Road City
Market parking lot to Barber
Street, a residential area off
Kemp Road.

However, DC Munroe has
since testified in court how Mr
Smith was in an ambush posi-
tion, concealed and ready to
attack with his back pressed

Brenton Smith

against the perpendicular wall,
and then “came at him” with
his arm raised, putting him in
fear for his life.

Mr Campbell said: “If this
person was in an ambush posi-
tion it would have been critical
to say that before.

“This is critical because this



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seems to be what triggered you
to believe that you were in dan-
ger and had to use lethal force.”

DC Munroe was responding
to an armed robbery at City
Market at around 8pm on July 9
when he parked his Fox Hill
division police car near the wall
and got out with his firearm
drawn.

The court heard how 44 sec-
onds later his partner DC Dar-
rington Sands called for an
ambulance from his handheld
radio reporting Mr Smith had
been shot.

DC Munroe maintains Mr
Smith fit a police description of
one of the robbers as he was
wearing a white T-shirt.

However he also admitted
the description was inconclu-
sive and that he was equally
likely to encounter a civilian
using the break in the wall as a
shortcut as he was an armed
robber.

The police officer with 11
years experience who received
firearms training in 2002 then
fired a single shot, and claims
he then fell back believing he
had been shot.

Mr Campbell said: “You
have the white T-shirt, which
you admit cannot say much
about who was the robber, so
why should that perturb you to
the point that you are so
unnerved; devastated to the
point where you thought that
you were shot?”

The coroner argued that the
version of events DC Munroe
presented in court was more
consistent with the testimony
submitted by Leshad Thomp-

—
r SMOKE AND STEAM

|| hangs over the volcano
under the Eyjafjallajokull
glacier in Iceland,
Wednesday April 14,
2010, which has erupted
for the second time in
less than a month, melt-
ing ice, shooting smoke
and steam into the air
and forcing hundreds of
people to flee rising
floodwaters. Volcanic
ash drifting across the
Atlantic forced the can-
cellation of flights in
Britain and disrupted air

|| traffic across northern

|_| Europe, stranding thou-

| | sands of passengers.

=| (AP)

son, who was with Mr Smith
when he was shot, and the
pathologist's report, than it is
with his own written statement,
which DC Munroe argued was
only a synopsis of the shooting.

The coroner said the inquest,
expected to draw to a close on
April 29, comes down to the
two versions of events submit-
ted by Mr Thompson and DC
Munroe, along with the pathol-
ogist and ballistics reports.

As the last witness to take
the stand since the inquest
opened in November, DC
Munroe has argued he believed
his life was in danger when he
shot the 18 year old, as he per-
ceived him to be one of the
armed robbers who had raided
City Market earlier.

As no suspects have yet been
apprehended for the armed rob-

FROM page one

bery he continues to argue that
Mr Smith may have raided the
supermarket despite seeing
video footage of the robbers,
and hearing statements from
several witnesses describing
them as having darker skin than
Mr Smith and wearing differ-
ent clothing.

There was no weapon or
stolen cash found on Mr Smith
or Mr Thompson after the
shooting.

Counsel for the Attorney
General’s office Cheryl Grant-
Bethel suggested DC Munroe
had fabricated his version of
events.

She said: “I’m suggesting
that the account you are giving
to this court is not truthful, and
that you shot the man at very
close range, into his arm
because he was flattened against

the wall, that material portions
of your evidence given here are
not included in your report
because it’s a recent fabrication
made up in direct response to
the evidence that you have
heard and that the purpose of
your lies is to justify the actions
that you took on the evening in
question when you rushed to
judgment and shot that young
man.

“The reason you have not
put the ambush position in your
report is because it is a recent
fabrication. I’m also suggesting
that the young man never came
at you on the evening in ques-
tion as you described.”

Counsel will present their
closing submissions on April 29,
anticipated to be the last day of
the inquest.

Former Minister

future generations of Bahamians who would have
claim to generation property.

“T think if the government is going to do any-
thing a study has to be done. I applaud looking for
a solution, but it has to go beyond the current
ancestors and think of the future. In addition, I
think the government should truly examine the
report of the Land’s Committee prepared by Fred
Mitchell and adopt the report as it was not fully
adopted before Parliament was prorogued,” he
said.

Serving as the Member of Parliament for Exuma
for a number of years, Mr Smith has intimate
knowledge of the issue of commonage and gener-
ation land, as there are more than five such com-
munities in that constituency.

“The properties that are generation land, com-
monage land, land in dispute, the land that belongs

with the passage of one bill. A major study ought
to be conducted as expeditiously as possible prior
to the passage of legislation.”

Mr Smith added that there needs to be some
“imaginative and innovative” approaches to deal
with the issue of commonage or generation prop-
erty. He pleaded with the government not to
attempt to use a band-aid approach in dealing with
something that can have “far reaching ramifica-
tions.”

“See it has to benefit the present and the future
generations of the property. You can’t disfran-
chise the future generations because that could
have some serious legal ramifications. I had thought
that the Select Committee on Crown Land would
spark a national debate on the matter of land and
how it is handled, but because the report was nev-
er adopted it died a natural death with the House,”

to the Crown, etc, all of these things have to be
examined. And I don’t know if this all will be done

he said.





YOUR CONNECTION#TO THE WORLD

PUBLIC NOTICE

TENDER FOR STRUCTURED
WIRING, POINCIANA DRIVE
TECHNICAL CENTER

The Bahamas Telecommunications Company Lid.
(BTC), is pleased to invite Tenders to provide struc-
tured wiring service for it’s Poinciana Drive Technical

Center.

Interested companies/firms may collect a Tender
Specification from the Security's Desk located in the
Administrative building on John F. Kennedy Drive, on
or before Tuesday, April 20th, 2010, between the
hours of 9:00 a.m. and 5:00 p.m.

The deadline for submission of tenders is on or before
5:00 pm Friday, April 23rd, 2010. Tenders should be
sealed and marked “Tender for Structured Wiring,
P/D”, and should be delivered to the attention of
“Mr. |. Kirk Griffin, Acting President and CEO.”

BIC reserves the right to reject any or all Tenders.

www.btcbahamas.com « www.facebook.com/mybtc
ee

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



FROM page one

don to Nassau flight and its
return flight to London at 9.40
tonight.

Exactly how long the air-
space restrictions in the UK
and elsewhere in Europe
will continue is unclear.

British National Air Traf-
fic Services cautioned at 8
o’clock UK time last night
that the “situation cannot
be said to be improving with
any certainty” as the ash
rapidly spread into large



Volcanic ash forces BA
Nassau flights cancellation

areas of northern Europe as
the Eyjafjallajokull volcano
itself continued to erupt.
As of 8 o’clock last night
British time, British Nation-
al Air Traffic Services was
advising that the cloud of

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ash “continues to cover
much of the UK.”

It has advised preliminar-
ily that UK airspace will
remain closed — with no
flights coming or going —
until lpm, or 7am Eastern
Standard Time, today at the
earliest.

Meanwhile, France and
Germany were last night
also considering shutting
down flights as the cloud of
ash spread further south
across Europe.

Thousands of passengers
have been left stranded
globally as they await flights
in and out of the affected
parts of the continent.

British National Air Traf-
fic Services said the vol-
canic ash represents a “sig-
nificant threat to air safe-
ty.”

A mixture of rock, sand
and glass, the tiny particles
of ash the cloud carries
from the volcano can jam
aircraft engines, potential-
ly causing them to fail.

A release from British
Airways advised that cus-
tomers booked to travel on
a cancelled BA flight can
claim a full refund or
rebook their flight for a lat-
er date.

It urged customers to
check their flight details on
the company’s website,
ba.com.

According to a source
with knowledge of Virgin
Airline’s operations, Virgin
Airlines was forced to can-
cel its London to Orlando
flight yesterday which was
due to bring a number of
Bahamas visitors with it,
while its London to Orlando
flight arrived as planned.

A small group of tourists
who had been visiting
Freeport left for Miami yes-
terday to catch a Virgin
flight back to the UK, but
have now been accommo-
dated by their holiday com-
pany in the U.S. after their
flight home was cancelled
due to the flight shutdown.

A message left for the
Ministry of Tourism was not
returned up to presstime.



THE TRIBUNE

Spo

FRIDAY, APRIL 16,

By RENALDO DORSETT
Tribune Sports Reporter
rdorsett@tribunemedia.net



ENTERING the Monte Carlo
Rolex Masters, Mark Knowles
expected the tournament to be the
first step in putting an injury-riddled
season behind him, however the set-
backs continued in Spain yesterday.

Mark Knowles and newfound
partner Bruno Soares of Brazil were
forced out of the second round of
the tournament as they suffered an
early exit via walkover.

The Bahamian-Brazilian duo fell
to French Wild Cards team of
Richard Gasquet and Jo-Wilfried
Tsonga.

In ATP tour events a walkover is
granted as an unopposed victory
when one opponent fails to start a
match for any reason, such as injury.

PAGE 9



2010

Forced out of
second round
via walkover

Gasquet and Tsonga will advance
to face the tournament’s top seeded
team, Knowles’ former partner,
Daniel Nestor of Canada and Nenad
Zimonjic of Serbia.

Nestor and Zimonjic defeated the
team of Jurgen Melzer of Austria
and Mikhail Youzhny of Russia (6-
3, 7-6).

Other doubles matches yesterday
included the second seeded Bryan
Brothers over Ross Hutchins and
Andy Murray of Great Britain (6-7,
6-2, 10-2); Simon Aspelin of Swe-
den and Paul Hanley of Australia



over Eric Butorac of the United
States and Michael Kohlmann of
Germany (5-7, 6-2, 10-6); Lukasz
Kubot of Poland and Oliver Marach
of Austria over Nicolas Almagro of
Spain and Ivan Ljubicic of Crotia
(6-4, 6-7, 10-4).

The injury bug has bitten Knowles
and his partnership on several occa-
sions early this season on the ATP
tour.

Knowles’ original partner on the
year, American Mardy Fish, suffered
a hip injury and will be forced out of
action until the Australian Open.

Knowles and Fish have played in
four tournaments on the year,
including the Medibank Interna-
tional, the Regions Morgan Keegan
Classic, the Sony Ericsson Open and
the U.S. Men's Clay Court Champi-
onships. Fish first sustained his hip
injury at the U.S. Men's Clay Court







Championships, earlier this month in
Houston, Texas.

The duo has experienced a num-
ber of setbacks during the season
due to injury.

Knowles missed the entire Aus-
tralian hard-court season on the
sidelines and re-aggravated a calf
injury in his return to the court in
Memphis.

After Fish’s injury just before the
main draw, Knowles was forced to |
search for a partner at the 11th hour
and was able to team with Soares, a
former semifinalist at the doubles
draw at the French Open.

When they were able to take the
court, Knowles and Fish were
ranked eighth on the tour's doubles
rankings.

They have reached a record of 3-
3, with their best finish, a semifinal
lost in Memphis on March 15th.





International Star Class Western Hemisphere Championships get started



a aad De

nt

a



- tai

; = =
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See





CANADIANS Richard
Clarke and Tyler Bjorn bat-
tled sustained 20-25 knot
winds in Montagu Harbour
to finish day one at the top of
the leader board in the Inter-
national Star Class Western
Hemisphere Championship
2010.

Sailing was postponed
Wednesday and delayed
Thursday by an hour due to
strong winds.

Clarke and Bjorn placed
second in the first of two
races and finished first in
race number two. American
Augie Diaz and his Brazil-
ian crewmate Bruno Prada
were first in race number
one, but an 8th place finish in
race number two set them
back into 4th place at the end
of day one.

Finishing second was the
team of George Szabo and
crew Mark Strube and third
was the team of Mark
Mendelblatt and John
von Schwarz.

The only Bahamians sail-
ing in this year's champi-
onships, brothers Mark and
William Holowesko, finished
day one in 17th position.

Sailing continues in Mon-
tagu Harbour on Friday and
Saturday.

The prestigious event is
being supported by the
Bahamas Ministry of
Tourism and the Nassau
branch of private banking
firm Lombard Odier Darier
Hentsch.

The Bahamas and the Nas-
sau Yacht Club last hosted
the Star Class Western
Hemisphere Championships
in 2005.











| gara Knights
| Rashad Morkley. He turned out to be

DUT

Knowles, Soares eliminated

STH

TCT
yo TW CTI



_ By ALPHEUS FINLAYSON

BAAA's Public Relations Officer



FORMER national record holder

_ in the high jump and Commonwealth

Games silver medallist Stephen Wray
went missing on a fishing trip last
December.

A Memorial Service will be held

_ this Friday morning, April 16th at

10:00am at Christ Church Cathedral,
George St.

Wray was the second Bahamian to
clear 7ft in the High Jump and the
first to do so on Bahamian soil. The
first was Winston Strachan, who
achieved this feat in Miami in 1978.
Wray achieved this milestone at St.
Augustine’s College in 1980. Later
that year he won the event in the
CAC Jr. Championships held in
August of 1980, clearing 7°3” in the
process.

Wray’s crowning glory came at the
Commonwealth Games two years lat-
er, 1982. in Brisbane, Australia when
he set another Bahamian record,

| jumping 7°7-1/4"(2.31m) for the Sil-

ver medal.
Troy Kemp broke Wray’s record in

| the late eighties.

Wray attended Government High
School and won a scholarship to
Southern [linois University. Wray
won the Silver medal at the Central
American and Caribbean Games in
Havana in 1982. He competed in the

| inaugural IAAF World Champi-

onships in Helsinki in 1983 and the
Olympic Games in Los Angeles in
1984.

The third Bahamian to clear 7ft was
Dennis Richards from Greencastle,
Eleuthera.

Wray worked at the Ministry of
Tourism for many years and was
responsible for the Student Spring
Break Program.

No Bull wins two
out of three games

By NICK BEDARD
Niagara News Staff Writer



The Bahamas are proving to Cana-
dian ballers that Bahamian basketball
is No Bull.

On April 5, the No. 1-ranked 17-
member Bahamian club team No Bull

| played a controlled scrimmage against
| nine players of the Niagara Knights

men’s basketball team as part of its
annual Canadian tour.

During the Knights three-
game scrimmage, No Bull won two
of three games played to 11.

| The Knights seemed to struggle

with the physical play of the Bahami-
an club team as they were forced

| to adjust to unusual contact.

On hand were the Niagara Knights
coaching staff as well as Ridley College
men’s basketball head coach Walt
Szpilewski.

“It’s a great thing for a team from
the Bahamas to come here and get the
possibility to showcase their skills to
various coaches and scouts,” says
Szpilewski.

“Ridley College has a long histo-
ry of having students from all over the
world, so we thrive on keeping that

| reputation.”

Ridley College recruit Geno Bullard
Jr. is a former player of No Bull. He

| | played as No Bull’s starting point

guard during the scrimmage.

Bullard Jr. says, “The
basketball transition was tough
because in the Bahamas there is a lot
of one on one. In Canada, basketball is
played with set offences and swinging
the ball around the perimeter to get
open.”

Various colleges throughout

| the province including Niagara Col-

lege allow No Bull an opportunity to
showcase their talent for
possible scholarship opportunities.
In 2009, that resulted the Nia-
recruiting

one of the top freshmen in the
Ontario Colleges Athletic Associa-
tion.

Morkley says it feels good “to see
and play” against his old teammates.

“T grew up playing with No Bull. I
miss the chemistry with that team, but
I like where I am now,” says Morkley.

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



PAGE 10, FRIDAY, APRIL 16, 2010

SPORTS

Poor publicity marred CFO martial arts event

HE organisers of the
[| certian fight

Order should be
commended for their ini-
tial professional kickbox-
ing and boxing show
held on Sunday night at
the Kendal GL Isaacs

Gymnasium.

But as stated to former
journalist Denez Jones, the
chief operating officer at the
weigh-in on Friday at the Cor-
ner Motel Hotel, the show
lacked the publicity that could
have certainly generated a lot
more people in the arena.

Many people have never
seen a live kickboxing show
and because it was new terri-
tory that Jones and the other
organisers were venturing into
it, it was obvious that a little
more promotion could have
gone a long way in attracting
alot more people.

The fact is, the names of
such fighters as Ronald
‘Smokey’ Martin, Emmanuel
Reckley, James ‘the Dragon’
Walkine, Dewitt'DC' Pratt
and Justin 'Pyscho' Sawyer,
as not as popular as Meacher
‘Pain’ Major, who was fea-
tured in the main event in the

lone boxing match.

To add to it, radio person-
ality and entertainer Bodine
Johnson was another attrac-
tion to the sporting arena. But
nobody really knew who she
was fighting in the women's
exhibition until the 11th hour
when it was learnt that for-
mer distance runner Ashanti
Eneas was going to be her
opponent.

It was a story within itself as
Johnson has had no prior
sporting background and
Eneas was switching over
from one sport to the other.

The point is, there were so
many interesting aspects of
the show that would have
made a quite a point of inter-
est for the general public as
they geared up for the first
joint venture of the two sport-
ing organisations.

Pro boxing has certainly
suffered a blow with the
Bahamas Boxing Commission
clamping down on First Class
Promotions, who have been
in operation since May 30,
2009 when Jermaine 'Choo
Choo' Mackey stopped Emil-
iano Cayetano for the WBC
Caribbean Boxing Federa-
tion's CABOFE super mid-
dleweight title in the fourth

round of their scheduled 12-
round affair.

Meacher ‘Pain” Major has
since signed a contract with
X-Cel Worldwide Promo-
tions, based in Buffalo, New
York. So he was a welcome
addition as he made his return
to the local scene.

Not taking anything from
the organisers, the hard hit-
ting and thunderous kicking
show was certainly an exciting
one and J think Caribbean
Fight Order should be com-
mended. Like those in atten-
dance at the show on Sunday,
we're just looking forward to
their next show in the near
future.

ANGELS PREVAIL
AGAIN

Bommer George should be
in seventh heaven right now.

After watching his Bommer
G Swingers falter in the New
Providence Softball Associa-
tion, the die-hard sponsor
breathed a sigh of relief as he
celebrated with his Bommer
G Lady Angels on Tuesday
night at the DW Davis Gym-
nasium when they regained
the New Providence Wom-
en's Basketball Association
title.



BAMIF

Da OME

ISTERSATIONAL BANK LIMITED

INCOME STATEMENT

Year ended December 31, 20008

Interest! Income om cepts and loge

Ines epee on deposits and loan

Set de reet lee ci

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EXPRESSES



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SET IS CADE



pie a Geer walua throm prit or loss

Approved By The Board:

JOAQUIM FILIPE DOS SANTOS

CARLOS DAVED DUARTE DE ALMEIDA Executive Diredtpr
ee

The Balance Sheet and the Auditor's Report were published

previously,

A complete set of the Financial atatements is available at
the Bank's office lecated at Centre o£ Commerce, 1

Suite 201, Massau,.



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The pictures during the
awards presentation after the
Lady Angels put a cap on the
best-of-five series with an
impressive 89-60 victory in
game four said it all. George
finally got to puff his cigar
and pop the champagne as
the Lady Angels and their
fans danced the night away.

There have been many
sponsors who have made their
contribution to the sporting
community. George and Sher-
man Johnson of the Johnson's
Lady Truckers are just two of
the latest who have impacted
the sporting associations, but
rarely ever look for any recog-
nition.

It's obvious that in order
for sports to survive in the
country today, the contribu-
tions of persons like Bom-
mer George and Sherman
Johnson will be vital.

What’s interesting to note
that both gentlemen are in
attendance at all of their
games and spend a lot of time
in each other’s company,
althought the bottomline is
they both want to win.

For the last four years, it
was Johnson who had the last
laugh as his Lady Truckers
stood tall as the NPWBA's
champions. This year, it's
George and his Lady Angels,
who are reigning supreme.

Next month, George's
sponsored Swingers are
expected to rebound from
their dismal season last year

when the NPSA season get
underway. Later this year,
Johnson's sponsored Lady
Truckers will be campaigning
in the New Providence Vol-
leyball Association. It will be
interesting to see if any of
them can achieve the success
that they both enjoyed in bas-
ketball.

SUPPORT FOR
SEA WOLF

While we reminisce on the
success and failure of two not-
ed sponsors, we want to pay
close attention to the medical
condition of veteran skipper
Sir Durward ‘Sea Wolf’
Knowles, who has made a
tremendous impact in all
aspects of sports in the coun-
try, either as a competitor,
mentor, coach, executive or
sponsor.

Known for his conquests on
the water as a seven-time
Olympian, who won both a
gold and silver medal in two
separate Olympic Games,
Knowles is resting in Doctor's
Hospital as he recuperates
from a near fatal traffic acci-
dent on Monday morning just
as he was preparing to go
back on the waters to com-
pete in one more race in the
warm up for the Internation-
al Star Class Western Hemi-
sphere Championship.

The 92-year-old Knowles,
who has made sufficient con-
tributions to society, is now





TRIBUNE SPORTS

in need of the public help as a
plea has gone out for blood
donation. There's no reason
why anybody who has bene-
fited from Knowles’ contri-
bution to sports and society
in general, should not rally
around and lend him their
support.

Best wishes to Knowles in
his recovery.

lorres/AP Photo

ALMERIA'S Michel Macedo of Brazil, left, controls the ball as Real Madrid Gonzalo Higuain of
Argentina, right, follows play during their Spanish La Liga soccer match at the Mediterraneo sta-
dium in Almeria, Spain, on Thursday, April 15, 2010.

Real Madrid
beat Almeria 2-1



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~ Bally Total Fitness

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SOCCER
MADRID
Assocated Press

REAL Madrid's 2-1 win at
Almeria kept alive its hopes
of catching league leader
Barcelona in the Spanish
league on Thursday.

Elsewhere, Valencia boost-
ed its chances of securing a
Champions League berth next
season when it beat Athletic
Bilbao 2-0.

Barcelona has 83 points,
three more than second-placed
Real Madrid. Valencia was
third on 59 and Mallorca
fourth on 52. Another point
behind was Sevilla.

Madrid began the match in
combative form, pressing
Almeria's defense early. Strik-
er Rafael van der Vaart con-
nected powerfully with Alvaro
Arbeloa's pass to force goal-
keeper Diego Alves to save
with his feet in the fourth
minute.

Alves had to save a long-
range shot by Van der Vaart
four minutes later and then
parried a Cristiano Ronaldo
free kick in the ninth.

Slowly, Almeria began to
win more possession and in a
rapid attacking move up the
right flank which beat
Madrid's offside trap, Kalu
Uche made a precise cross into
the goalmouth where Albert
Crusat dispatched his fifth goal
of the season in the 14th.

Madrid goalkeeper Iker
Casillas had to save a free kick
taken by Domingo Cisma with
an athletic jump in the 22nd.

Ronaldo leveled with his
19th goal of the season with
moves including a trademark

bicycle shuffle over the ball
which wrong-footed Almeria
defender Michel Macedo in
the 27th minute.

Madrid midfielder Jose
Maria "“Guti" Gutierrez,
whom coach Manuel Pellegri-
ni started, hit the post and Van
der Vaart volleyed the
rebound just wide of the left
post on the half-hour mark.

Three minutes later Uche
avoided Madrid defender Ser-
gio Ramos and forced a goal-
line save from Casillas.

Madrid came close to scor-
ing in the 56th when Macedo
cleared Gonzalo Higuain's
shot off the goal-line. Alme-
ria counterattacked instantly
and Uche shot just over the
bar a minute later.

Van der Vaart scored
Madrid's second in the 68th
when he caught Alves going
the wrong way as he hit a pow-
erful shot from just inside the
area in the middle.

David Silva scored for
Valencia in the 35th minute,
capitalizing on a goalmouth
scramble after teammate
Alexis Ruano miskicked an
incoming corner.

A minute later Valencia's
Spain striker David Villa fell
heavily on his left shoulder
while challenging for a ball but
although in obvious pain he
later seemed to recover.

Silva's second goal came
after he controlled a precise
pass from Joaquin Sanchez,
subtly tapped the ball forward
and then hit a powerful left-
footed shot that beat Athletic
goalkeeper Gorka Iraizoz in
the 62nd.

Villa was substituted by
Alejandro Jimenez in the 79th
to fans’ applause in Mestalla
Stadium.

On Wednesday, it was:
Barcelona 3, Deportivo La
Coruna 0; Osasuna 2, Malaga
2; Xerez 2, Atletico Madrid 1;
Racing Santander 3, Espanyol
1; and Zaragoza 1, Mallorca
1.

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







PAGE 12, FRIDAY, APRIL 16, 2010

THE TRIBUNE
LOCAL NEWS



Hats fantastic!

Apparel turns heads at Opening of Parliament





THERE WERE MANY GLORIOUS HATS on display at Wednesday’s
Opening of Parliament in Nassau.

Senator Jacinta Higgs (above); Bernadette Christie, wife of PLP
Leader Perry Christie (at right of main picture); Senator Hope Strachan
(third picture from right); Lady Joan Foulkes, wife of Governor Gen-
eral Sir Arthur Foulkes (second picture from right); and Loretta But-
ler-Turner, Minister of State for Social Services (bottom right), were
among those attending the day’s events.

BIS Photos

a be es Ps} ;
Ware « &
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ree ;
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at
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NA TTBS NO tl te OC UT Ue ae tld TU EO CC SMe



THE TRIBUNE







HSE
Haas

AS CI
HTT



By NEIL HARTNELL
Tribune Business Editor

The former managing/gen-
eral partner for the New
South Ocean Development
yesterday pledged that he and
his company would attempt
to “vacate” the Arbitration
Tribunal decision that ousted
them, arguing that the deci-
sion was “fundamentally
flawed and will not survive
judicial review”.

Roger Stein, principal of
RHS Ventures, in a statement
e-mailed to Tribune Business,
said: “We are naturally dis-
appointed in the arbitrators’
decision, which we believe is
fundamentally flawed and will
not survive judicial review by
the New York courts. We
intend to seek to vacate the
decision, as well as to explore
every possible option to
establish the truth."

He was responding after an
International Arbitration Tri-
bunal panel comprehensive-
ly ruled in favour of the New
Providence resort develop-
ment’s financing partner,
Connecticut-based hedge
fund Plainfield Asset Man-
agement and its Seaside
Heights investment vehicle,
finding that they should
replace Mr Stein after shoot-
ing down all his arguments.

The tribunal ruling, a copy
of which has been seen by Tri-
bune Business, backed Plain-
field/Seaside Heights’ posi-
tion that it had invested $100
million into the southwestern
New Providence resort pro-
ject “even though there was
no progress on the develop-
ment - not a single shovel hit
the ground”. The tribunal
found that while just 3 per
cent of the South Ocean infra-
structure budget had been

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





isine

FRIDAY,



APRIL

TsO,



2010

SECTION B ¢ business@tribunemedia.net

‘Relative payments’
broke corruption law

* Claims payments by resort developer ‘for the benefit of relatives of

Bahamian government officials’ breached US Foreign Corrupt Practices Act

* Tribunal ruling on South Ocean dispute rejects notion that impressing Bahamian
government ‘can only be successfully done aboard $150,000 yachts’

* Claim $4m in tax saved by impressing officials with luxury is ‘shot down’

* Ruling finds former managing partner should not have removed $250,000 held in
escrow at Grimes law firm for Stamp Tax payments, and questions fate of $1.5m held
to buy-out South Ocean homeowners

By NEIL HARTNELL
Tribune Business Editor

Payments allegedly made
by a resort developer “for
the benefit of relatives of
Bahamian government offi-
cials” were claimed to have
breached US anti-corruption
laws, a ruling on the battle
for control of the project has
revealed.

The allegations were con-
tained in an International
Arbitration Tribunal ruling
on the battle for control of
the southwestern New Prov-
idence-based South Ocean
resort, which found that
Connecticut-based hedge
fund, Plainfield Asset Man-
agement, was fully within its

rights to remove Roger
Stein and his RHS Ventures
vehicle as the development’s
managing/general partner.
Referring to allegations
made by Plainfield Asset
Management against Mr
Stein and RHS Ventures,
the New York-based tri-
bunal found that payments
made to these Bahamian
“relatives” by the New
South Ocean Development
Company were among a
number of different payouts
that were “disguised” and

placed “into other cate-
gories” on the expenses
sheet.

“Payments made for the
benefit of relatives of
Bahamian government offi-

cials were similarly han-
dled,” the tribunal noted in
the footnotes to its main rul-
ing, a copy of which has
been obtained by Tribune
Business.

Plainfield also made a
series of other allegations
about expenses incurred pri-
or to the formalisation of its
partnership with Mr Stein in
2007, including “payments
made to or on behalf of rel-
atives of Bahamian govern-
mental officials in violation
of the Foreign Corrupt Prac-
tices Act”.

The Tribunal made no
findings on these allegations,

SEE page 7B

Aircraft could shave $8.64m



per year off airline’s costs

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

BOMBARDIER’S Q400
model could shave $8.64
million per year off
Bahamasair’s operating
costs, should the Govern-
ment decide to go with the
world’s third-ranked aircraft
manufacturer in restructur-
ing the national flag carri-
er’s fleet, company officials
said yesterday.

Bombardier flew one of
its Q400 Turboprops to Nas-
sau from Toronto yesterday
to give government and
Bahamasair officials the
opportunity to take a test
flight in a model that came
off the manufacturing line
only days before.

According to Bom-
bardier’s vice-president of
sales, Kevin Smith, the air-
craft, with its 360mph top
speed and 70-90 seat varia-
tions, could replace
Bahamasair’s less fuel effi-
cient Boeing 737 jets on the
airline’s Nassau to Miami
leg. According to him, the
Q400 burns three times’ less

SEE page 2B

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City Markets
like-for-likes
improve to
just 9% down



programme

publication

By NEIL HARTNELL

* But ‘big factor’ behind woes is 6-6.5% shrink levels,
over three times’ higher than global average and much
greater than 1% in other Caribbean states

* Supermarket chain ‘half-way there’ on direct import

* Company settles Securities Commission complaint
with $25,000 fine and pledge for 2009 audited financial

Tribune Business Editor



cent in February.

SEE page 3B



City Markets has continued to see improvement in
its same-store sales to the point where they are now
only 9 per cent down year-over-year, its chief execu-
tive told Tribune Business yesterday, as the 11-store
grocery chain moves to combat shrinkage levels that
are three times’ higher than the global average.

Derek Winford confirmed to this newspaper that
while sales from same-store space had been down
year-over-year by up to 18 per cent for the period to
December 31, 2009, City Markets had “continued on
that trend” that had seen this gap narrow to just 10 per

“It’s down to 9 per cent and getting even better,” Mr
Winford said for ‘period 10’ of City Markets’ 13-peri-
od fiscal year, encompassing most of March. He attrib-
uted this to “a number of changes, especially in the





$25m broker wind-up
reaches ‘pivotal point’

By NEIL HARTNELL
Tribune Business Editor

The court-supervised
winding-up of a Bahamas-
based broker/dealer that col-
lapsed with a $25 million
black hole has reached “a
pivotal point”, its liquidator
revealing that he is likely to
seck an Order allowing him
to retain a further 2.5 per
cent of client assets - rough-
ly $1.675 million - to meet
the liquidation’s costs.

SEE page 8B

A DIVISION OF

* Caledonia liquidator
to seek court order to
use further 2.5% of
client assets, some
$1.675m, to fund
liquidation

* Many clients said to be
unhappy over extra costs
* Set to ask Court to
force broker’s former
management and
technology consultants
to ‘explain their actions’
and help clients recover
lost assets

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PAGE 2B, FRIDAY, APRIL 16, 2010

THE TRIBUNE



New fleet required to cut flag carrier’s losses

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE Minister responsible
for Bahamasair said yester-
day that the airline will
require a new fleet of air-
craft as a long-term cost cut-
ting solution for a company
that has cost the Govern-
ment almost $500 million
since its 1973 inception.

Neko Grant said revamp-
ing Bahamasair’s ageing
fleet was one possible solu-
tion to easing the taxpayer
burden of financing an air-
line that has never proven
to be profitable, costing up

During a showing of third-
seeded aircraft manufactur-
er, Bombardier’s, Q400,
which Bahamasair is con-
sidering taking receipt of, its
chairman J. Barrie Farring-
ton, echoed the need to
renew the fleet.

“The useful life of the jets
will expire and we will need
to be in a position to have an
alternative,” Mr Farrington
said.

“So there will have to be a
period of transition from the
fleet composition today to
the one that hopefully we
will be able to have in effect.

“We are looking for
greater flexibility, we need

to $25 million per annum. to be able to be more effi-

cient and cost effective to
reduce the operating losses
of Bahamasair.

“It has been an enormous
drain on the public purse
and the tax payers should
be given relief. Therefore, it
is our hope and vision to be
able to transform Bahama-
sair.”

Replacement

Mr Grant said Bahama-
sair had seriously looked at
the Bombardier Q400 as a
replacement to renew its
fleet, as the aircraft would
be able to replace the air-
line’s Miami route, which is

often serviced by a Boeing
737 jet aircraft.

The Turboprop aircraft
with dual Pratt and Whitney
PW150A engines can make
near the same time to South
Florida as the 737, but is
much more fuel efficient.

“We have looked at the
Bombardier Q400 as a
replacement, as we seek to
renew our fleet," said Mr
Grant.

He added that the age of
the Bahamasair fleet keeps
operating costs high on the
maintenance side and keeps
fuels costs high, as the older
airplanes are not as fuel effi-
cient as the newer models.

According to him, discus-

Aircraft could shave $8.64m
per year off airline’s costs

COMMONWEALTH OF THE BAUSLAS ant
IN THE SUPREME COLBT CLE pnt Be. 108)
Cenmon Law & hqaity Dera
BETWEEN
TS THE MOAT TER of Whe Chuetang of Tikes Act, 1959
AMT
IN THE MATTER of Lit 4 Bleck 1 on Kool Acres
Subdivision situa: in the Easem District of the ieland of
New Providence: one of the Idands of the Commonuealih
of The: Haharess
ANTI
ON THE MATTER of the Pettion of AMBERT (0M
OTICE
THE PETITION of Robert fox an respect of

“ALL THAT pacer parcel if ket ef bed dora act Looe 4

Bleck 0 in Koon) Acres Subdividon in the Fame Diener af



the Ishi of New Prwidence one of the Usheds of the
Commcnvvcalih of The Tahwmas sad hounded on rhe
NORTH bi Lot No. 5 in the said Sebdiewion and Pantene
tesco’ Che Hotdnad and Varo: aad bighy-peae brendtedite
(WES) boat om eae WEST br La Ma Soin thre ead
Sahdeimon and canreng theron One Humdred ond Pour
Hunted and Faghry-one bundredihs (104.81) feet on the
SOUTH by a Mobb Head known ao FERNBURY
AVENUE sad runeing thereon Sevenny-[re (73,00) beet to
& poier and coanming moan ar Twenty and Sevenry-ine
Hondredits (2a. feer on the EAST by a Thar (MN fen
wike mad peservanice and PUfeL ig Coctecel Eigthary ine and

Eighty hutdrediha (20.60) fee, rare particularly shown ard



ded ia the Deparmenr of Land

4

ddigsined oi a Pa

afal Survers a3 TAS 43
Rober Coo chums to be the owner of the unencombered fre soph: emie in posseuion of
the sod Lond ond bes ode apphotce tote Supreme Court of the Commameeaith of The
Paha eri unde: Sectana Theor) of rhe CQobedng Votles Ace, 1959 00 have bas ride ro the said
lined invesigated and dhe natere and exter thereof determuned and declared in a Certficae

of Tithe to be granted bp the Court in aacondaace with the promeaicen of the wad Act

Copuet of the: Petition and the Phin of the sand bind may be inspected dunng nosrel affine
hours an the fnlivaang planes
1, The Rogistre of the Sepeeme Court, Exat Saree Morih in the ‘City of Masnain,
Techamnas; and
2 The Chambers of Lockhart & Go, #15 Bem Retro Bowl, off Shidkey Seon,
Marisa, Bahasnic.
NOTICE os beselyy given that ade permet having doer ot yeah to divert of at Advent
(Chins oe a claim ast resngmzed in che: Petiion stall oa.or eines the expiranoa of Thirty
(3) days ales the: Ena) publican of these pocsetts, Mle ix the Supeente Court and serve on
the Peanioner of the undersigned a Seaternent of bes clacre oni the prescobed form verted bry
an affidevt tobe filed cheneech
Failure: of any sock pecson ie: file amd serve a Stuement of bes Chom om. or betose the
expantioa of Tharty 0) dave after dhe Gal publicacion of these present: will operate ai.
bie ta wach chim.

Dated the: yu day of Febouary, ALD. 20L0

LOCKHART & CO.
(Chambers

#55 Damen Reta Riad
all Starkey Steen
Magan, The Tuharas

Ationmveps Go the Peationer



FROM page 1B

fuel than the 737.
Bombardier’s crew sought
yesterday to convince the
Government and Bahama-
sair officials that the Q400
would be the best refleeting
solution for the airline, argu-
ing that it was more envi-
ronmentally friendly and can
service all current routes
with better fuel economy
than the current aircraft.
“The Q400 NextGen air-
craft’s operational flexibility,
low-cost operation, reduced
environmental impact and
passenger comfort are ide-
ally suited to the needs of
the people of the Bahamas
and the neighbouring
region,” said Mr Smith.
According to Bombardier
marketing manager for the
Caribbean region, Kevin
Clarke, Bahamasair could
save $720,000 per month in
operating costs if it renewed
its fleet using the Q400.
He intimated that the
plane’s range could also

as far as Cancun, Mexico.

Bahamasair’s chairman, J.
Barrie Farrington, said the
airline had been looking at
several other manufactur-
ers in order to source the
best one to refleet the com-
pany.

According to him, they
hope to have chosen a com-
pany by summer, and the
Bahamas could possibly see
a new fleet of aircraft as ear-
ly as 2012.

“In our development plan,
we have looked with our
consultants at what it would
require to acquire the kind
of aircraft we would need.
That final decision hasn’t
been made, and we know
what the schedule would be
in order to take currently
operating planes out of ser-
vice and introduce new
planes,” he said.

“Our window of opportu-
nity is that this has to be fin-
ished by early 2012.

“Having Bombardier here
means that we have been
looking seriously at using



sions are ongoing within
government as to how best
to solve the airline’s debt
woes, but for now those dis-
cussions remain at the table
while numbers are being
“crunched”.

“Tt is an exercise (refleet-
ing Bahamasair) we are con-
sidering at the Cabinet lev-
el,” said Mr Grant.

Mr Farrington went as far
as to say a plan has been
developed but has not yet
been approved, while Mr
Grant said other initiatives

“It has been an
enormous drain on
the public purse and
the tax payers
should be given
relief. Therefore, it
is our hope and
vision to be able to
transform Bahama-
sair.”

tively writing-off more than

are being mulled that he

could not discuss publicly.
The Government has

moved to clean up Bahama-

$40 million that the flag car-
rier owed to it and other
public sector agencies,

potentially open new routes their aircraft.

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.

NOTICE

NOTICE is hereby given that EDLINE DECIUS of Mackey
Street, Nassau, Bahamas is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/
naturalization should not be granted, should send a
written and signed statement of the facts within twenty-
eight days from the 16 day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.















HALSBURY
CHAMBERS

Counsel-and-Attorneys-at-Law

Employment Opportunity

Established Law Firm is seeking to employ
an attorney who specializes in litigious work,
personal injury, family law and probate with
a minimum of five (5) years practical and
professional experience.

Applicants should be organized, diligent, a
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Successful applicants will be eligible to
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including almost $15 million
in ticket taxes.

Ousted developer
seeks to ‘vacate’

sair’s balance sheet by effec-

TT ETUC

FROM page 1B



spent, some 29 per cent of the travel and expenses budget had
been used.

While Mr Stein and RHS Ventures had alleged that they
were fraudulently induced into entering a partnership agree-
ment with Plainfield/Seaside to develop South Ocean, they
and their affiliates holding 49 per cent, the ruling completely
rejected this assertion.

“Mr Stein’s assertion that Seaside Heights committed to
‘find or fund’ the proceeds for the entire project, including
vertical construction estimated at a cost of $857 million ($235
million for the infrastructure phase, plus the $622 million pro-
jected for vertical construction) was contradicted by his own
statements and by his own testimony during the course of the
proceeding,” the Tribunal found.

Plainfield/Seaside had no obligation to fund the South Ocean
project beyond their initial $42.7 million equity contribution, the
Tribunal found, also rejecting the RHS Ventures allegation that
Plainfield “targeted Mr Stein and his companies as presenting
an opportunity to steal his investment from him..... Claimants
contend that Seaside Heights and Plainfield, from the very
beginning, wanted full control of Mr Stein’s $41 million equity
in the project”.

Such a claim was not supported by the evidence, the Tribunal
found, pointing out that Plainfield/Seaside’s $57 million loan to
the South Ocean development was ranked behind the $85 mil-
lion mortgage debentures that the Canadian Commercial
Workers Industry Pension Plan (CCWIPP) held on the project’s
real estate.

“Not surprisingly, nowhere do [Mr Stein and RHS Ven-
tures] point to a vulture fund that first makes a substantial
equity investment, here a $43 million equity investment by
Seaside Heights, and then lends another significant sum, which
is subordinated to other massive debt, here a $57 million Sea-
side Heights’ loan junior to [CCWIPP’s] $85 million debt,”
the ruling found.

“The investments and loans that Seaside Heights made
demonstrate a long-term commitment and intention to support
the project in order to benefit in its long-term success. Such
investments and loans cannot form a vulture fund strategy, as
they leave such a fund completely vulnerable to the senior
debt.”

In addition, the value of the 383-acre South Ocean real
estate was unlikely to exceed the amount of CCWIPP’s mort-
gage debt in value, with the latter having had the site appraised
at a cost much lower than $85 million.

“Thus, because of its commitment to the project, Seaside
Heights stands to lose its entire $100 million investment, a
result that demonstrates precisely why this is not the way vul-
ture funds play.”

And in a summary of the background that led Seaside
Heights/Plainfield to remove RHS Ventures as the general
partner, the Tribunal said: “Having infused New South Ocean
Development Company with over approximately $100 million
in a matter of months, having seen very little progress on the
project, seeing no prospect for long-term financing arrange-
ments on the horizon, knowing a $7.5 million principal payment
was due to [CCWIPP] to avoid a default at the end of August
2008, and that two additional $7.5 million principal payments
would be due to [CCWIPP] soon thereafter to avoid foreclo-
sure, and that the golf course and other operations required con-
tinued funding of hundreds of thousands of dollars, the Seaside
Heights team held a series of meeting in the summer of 2008 to
discuss how to proceed.”

This led to another bridging loan payment being made to
CCWIPP in August 2008 to avoid foreclosure, and an injection
of “short-term working capital” into New South Ocean Devel-
opment Company.

NOTICE

NOTICE is hereby given that JOANEL PETIT-BEAU
of Marsh Harbour, Abaco, 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 16" day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.

NOTICE is hereby given that ALBERT JOSEPH of
ALLEN DRIVE, P.O. BOX CB-12627, 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 16" day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.



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



THE TRIBUNE

FRIDAY, APRIL 16, 2010, PAGE 3B



Twitter: Four years old and still growing

BY CLAIRE CAIN MILLER
c.2010 New York Times
News Service@

Twitter's first developer
conference, held this week
in San Francisco, served as a
coming-out party for the 4-
year-old service.

Twitter the startup is
becoming Twitter the big
company, with more polish,
controversy, competition
and revenue.

At the conference, called
Chirp, Twitter announced
several new features that
will make it more useful,
including geo-location ser-
vices, a database of places
and additional metadata for
posts.

It also offered details
about (AT)anywhere, a new
service that lets people gain
access to Twitter from else-
where on the Web.

These new features could
expand Twitter's reach, but
it also pits the company
against other popular Web
companies, including Face-
book and Foursquare.

"They've gone from a
data play to a platform
play," said Jeremiah
Owyang, a partner at
Altimeter Group, a digital
strategy consulting firm.
"You're seeing the same
behavior that Facebook,
Google and other online
communities have done.
This is a natural evolution
of a Web company."

As evidence of its growth,
Twitter revealed some pre-
viously undisclosed num-
bers.

It has 106 million regis-
tered users and is adding
new users at the rate of
300,000 a day. Those cus-
tomers write 55 million dai-
ly posts, and 180 million
people log on _ to
Twitter.com each month to
read them.

Despite the growth, Twit-
ter has a pressing need to
make the service easier to
understand for new users,
said Evan Williams, its chief
executive. "It's amazing it's
grown so fast given how
hard it is to use."

One of the new features
Twitter announced is called
points of interest.

People on Twitter have
been able to include their
general location. But now
they will be able to reveal
exactly where they are. Peo-
ple will be able to search for
a certain location, like a con-
cert hall or hotel, and see all
the posts written from that
spot.

This is similar to the
check-ins on Foursquare,
Gowalla and other services
that people use to share
their location. Williams said
that Twitter was not trying
to duplicate those services
but rather provide Twitter
users with more relevant
content.

"Where you are defines
what you're interested in,"
he said.

Twitter and its developers
will build a database of
places — parks, restaurants,
hospitals and the like —
across the world so people
can refer to them in posts.

Another new tool is called

annotations. Already, indi-
vidual posts show which app
someone used to write the
post and the date, time and
(if users choose to make it
public) location. With anno-
tations, software developers
will be able to add other
material, which Twitter calls
metadata, to Twitter posts.

This could significantly
expand the amount of infor-
mation a post includes,
beyond its 140 characters,
and could enhance the way
Twitter is used.

Posts could include the
name of the restaurant
where a post was written
and its star rating on Yelp,
for instance. Then, someone
could find Twitter posts
about restaurants nearby
with five stars. Or develop-
ers could add a way to make
a payment and purchase, so
retailers could sell items
from within a post.

Twitter does not know
what developers will decide
to do with the tool, said
Ryan Sarver, who manages
the Twitter platform. "The

City Markets like-for-likes improve to just 9% down

FROM page 1B

area of customer service”,
with staff, including cashiers,
interacting with shoppers
much more and ensuring all
their grocery needs were
met.

While City Markets,
which suffered a $6.069 mil-
lion net loss for its last com-
pleted financial year to June
24, 2009, is still some way
from regaining profitability,
Mr Winford said “a really
big factor” impacting its per-
formance - especially in a
down economy - was the rel-
atively high level of shrink-
age (losses due to stealing,
broken and sour produce) it
was suffering.

“Globally, shrinkage is at
2 per cent, and in the
Bahamas it’s 6-6.5 per cent
[of sales],” Mr Winford told
Tribune Business. “When
shrinkage reaches 2 per cent,
that’s a big red flag and the
buttons go off everywhere.

“This is not a City Mar-
kets problem; all Bahamian
retailers are affected. We’ve
measured it very carefully,
because all the Neal &





Massey systems are in place.
In an economy like this, it
creates a problem.”

While support from the
Trinidadian conglomerate
that has control at City Mar-
kets’ majority shareholder,
BSL Holdings, has proven
welcome, Mr Winford said
that in other Caribbean
retail markets in which he
has worked, shrinkage has
been as low as 1 per cent -
placing the Bahamas near
the top, some five to six
times’ worse.

He added that when
Bahamas Supermarkets was
majority-owned by Florida
grocery chain Winn-Dixie,
shrinkage levels were
thought to be even higher
at just under 7 per cent, but
“they were able to cover it
up because sales were high-
er”.

Still, Mr Winford told Tri-
bune Business that Bahamas
Supermarkets’ 700-strong
workforce was “on board”
with management plans and
strategy, adding: “The
employees are full of life
and bringing life to our cus-

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.

NOTICE

NOTICE is hereby given that TONY LOUIS of
CARMICHAEL ROAD, P.O. BOX CB-12627, 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 16'* day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JUNATA ANEE of P.O.
Box AB - 20554, Marsh Harbour, Abaco, 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 16" day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, BERNADETTE
TANYA MCPHEE of Silver Gates, Subdivision in the
Western District of the Island of New Providence,
intend to change my name to BERNADETTE TANYA
BURROWS. If there are any objections to this change of
name by Deed Poll, you may write such objections to the
Chief Passport Officer, PO.Box N-742, Nassau, Bahamas
no later than thirty (30) days after the date of publication
of this notice.

tomers.”

City Markets’ direct
import programme would
be “balanced very careful-
ly” with the company’s rela-
tionships with Bahamas-
based suppliers, Mr Winford
telling this newspaper that
the company was “maybe
half-way there with every-
thing” relating to this initia-
tive. “That is one of the
areas where we can pass sav-
ings on to our customers and
improve margins,” he
added. “It works for both
customers and sharehold-
ers.”

Asked when City Markets
would regain profitability,
Mr Winford said: “I wish it
were yesterday. I don’t have
a crystal ball, but we’re
doing everything we can.”

Mr Winford also told this
newspaper that it had been
“very important” for the
supermarket chain and its
parent, Bahamas Supermar-
kets, to settle for $25,000 a
formal complaint filed
against it by capital markets
regulator, the Securities
Commission of the
Bahamas, over the late filing
of its audited financial state-
ments for the 2008 and 2009
fiscal years. The regulator
had alleged that Bahamas
Supermarkets had breached
Section 65 of the Securities
Industry Act by failing to
file its certified annual
results in a timely manner,
with the audited statements
for fiscal 2008 only submit-
ted on October 27, 2009,
some 16 months after the
year-end.

While not “admitting or
denying” the allegations, as
part of the settlement agree-
ment Bahamas Supermar-

kets agreed to pay a $15,000
fine over the complaint, with
a further $10,000 payable as
a result of failing to produce
its 2009 audited financial
statements.

Bahamas Supermarkets
also agreed to publish the
2009 audited financial state-
ments “on or before May 31,
2010”, and submit to the
Securities Commission and
publish its quarterly man-
agement accounts on its
website within 30 days of
period end. Hillary
Deveaux, the Securities
Commission’s executive
director, said: “This matter
had presented the Commis-
sion with various challenges
in exercising its disciplinary
authority. However, many
valuable lessons have been
learnt in this exercise, which
can only enhance the Com-
mission’s execution of its
disciplinary responsibilities
in the future.”

Exactly what the “valu-
able lessons” are was not
divulged, and many minori-
ty shareholders are likely to
consider the $25,000 collec-
tive fine nothing more than
a ‘slap on the wrist’ for
Bahamas Supermarkets. Yet
it was key for the company
to bring this chapter in its
life to a close.

Still, Basil Sands,
Bahamas Supermarkets’
chairman, told Tribune
Business: “It’s very impor-
tant that we’re not dealing
now with any matters with
the regulators.

“We're trying to address
questions of increasing sales
and satisfying customers,
getting more customers in
and trying to generate prof-
its.”

ROYAL = FIDELI

Money 2: Woek

underlying idea is think big,
push yourself."

Dick Costolo, Twitter's
chief operating officer, gave
details about (AT)any-
where, which was first
announced at the South by
Southwest conference. (Ini-
tial partners include more
than a dozen news sites,
including The New York
Times Co.) Similar to Face-
book Connect, (AT)any-
where will allow people to
log in to Twitter from other
Web sites.

When visiting a magazine
Web site, for instance, a user
could sign in to Twitter, hov-
er the cursor over a writer's
byline and follow the writer
on Twitter or write a post
without leaving the page.
The magazine could also
suggest other writers that
the reader should follow on
Twitter.

Twitter also said it would
incorporate more outside
services — including an
Android app and a link
shortener — into its own
service, either by acquiring

startups or building its own
tools.

This added to the unease
that many software devel-
opers have felt since last
week, when Twitter
announced its own iPhone
and BlackBerry apps.
Developers who make these
types of apps worry that
Twitter could put them out
of business.

Twitter tried to reassure
developers, by emphasizing
how crucial they have been
to Twitter's success.

Developers have built
more than 100,000 Twitter
apps, and 75 percent of
Twitter's traffic comes from
people using these apps
instead of Twitter.com.

INSIGHT

For the stories

behind the news,
read Insight
on Mondays



NOTICE

ACQUA SMERALDA LIMITED

N OTIC EIS HEREBY GIVEN as follows:

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

(b) The dissolution of the said company commenced
on the 3rd March, 2010 when the Articles of Dissolution
were submitted to and registered by the Registrar

General.

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

Bahamas

Limited, The Bahamas

Dated this 9th day of March, A. D. 2010



CST Administration (Bahamas) Limited
Liquidator



NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.46 of 2000)

MINING EQUIP & SPARES LTD.
IBC N° 100599B

(In Voluntary Liquidation)
NOTICE is hereby given in accordance with Section 131 (2)(a) of

the International Business Companies Act, No. 46 of 2000, MIN-
ING EQUIP & SPARES LTD. is in Dissolution.

Any person having a Claim against the above-named Company is
required on or before 9th May 2010 to send their name, address and
particulars of the debt or claim to the Liquidator of the Company,
or in default thereof they may be excluded from the benefit of any

distribution made before such claim is approved

Mr. Marinos Peslikas of Photos Arestis & Co. Harmonia Building
3rd and 4th floor 12 Chrysanthou Mylona Street CY-3030 Limas-
sol Cyrus is the Liquidator of MINING EQUIP & SPARES LTD.



FG CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

TY

BISX LISTED & TRADED SECURITIES AS OF:

THURSDAY,

15 APRIL 2010

BISX ALL SHARE INDEX: CLOSE 1,557.61 | CHG -0.53 | %CHG -0.03 | YTD -7.77 | YTD % -0.50

FINDEX: CLOSE 000.00 |

YTD 00.00% | 2009 -12.31%

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

52wk-Low

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Commonwealth Bank ($1)
Consolidated Water BDRs

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

Focol Class B Preference
Freeport Concrete

ICD Utilities
J. S. Johnson

Premier Real Estate
BISX LISTED DEBT SECURITIES -

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

1000.00
1000.00
1000.00
1000.00

52wk-Low

RND Holdings

ABDAB
RND Holdings

Fund Name

1.3664
2.8266
1.4467
2.9343
12.6816
100.5606
96.4070
1.0000

CFAL Bond Fund

1.0000
1.0000
9.1005

Securit y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Symbol
Bahamas Supermarkets
Caribbean Crossings (Pref)

CFAL MSI Preferred Fund
CFAL Money Market Fund

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

CFAL Global Equity Fund

FG Financial Preferred Income Fund
FG Financial Growth Fund

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund

7.02

10.63

5.30

0.53

3.15

2.37

12.20

2.72

6.00

2.94

2.54

6.07

9.08

10.43

5.00

1.00

0.27

5.59

9.95

10.00

Symbol Last
FBB17
FBB22
FBB13
FBB15

Previous Close Today's Close

(Bonds trade on a Percentage Pricing b

Change Daily Vol.
0.00
0.00

-0.07
0.00
0.00
0.00
0.00
0.00
0.00
0.03
0.00
0.00

1.02
10.63
5.23
0.53
3.15
2.37
12.20
2.72
6.00
2.97
2.54
6.07
9.08
10.43
5.00

0.00
0.00
0.00
0.00
0.00
0.00

1.00
0.27
5.59
9.95
10.00

0.00
0.00

250

Sale
100.00
100.00
100.00
100.00

Change
0.00
0.00
0.00
0.00

Daily Vol.

RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)

Bid &
10.06
2.00
0.35

Ask & Last Price

Daily Yak.
11.06 74.00
4.00

0.55

6.25
0.40

CFAL Securities Ltd. (Over-The-Counter Securities)

30.13

0.45
BISX Listed

NAV

1.4525
2.9116
1.5254
3.2025
13.4986
107.5706
101.7254
1.1034
1.0764
1.1041
9.5795

Principal Protected TIGRS, Series 1

10.0000

Royal Fidelity Bah Int'l Investment Fund

11.2361

Principal Protected TIGRS, Series 2

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

P/E - Closing price divided by the last 12 month earnings

KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

Royal Fidelity Intl Fund - Equities Sub Fund

7.6928

YTD%

31.59

0.55
Mutual Funds

0.55

NAV 3MTH
1.419947
2.855227
1.504794

Last 12 Months %
6.30
0.19
5.14
-3.54
5.44

0.96
0.85
1.19
2.F 3S
0.98
3.45
5.52
1.25
0.79
1.23
5.33

6.97
BAe
Ssh
4.37
5.34
5.33

103.095570
99.417680

12.36 12.36

-0.31 47.51

MARKET TERMS

YIELD

- last 12 month dividends divided by closing price

EPS $

Div $
0.283
0.992
0.598

-0.877

0.168
0.055
1.406
0.249
0.419
0.111

0.627

-0.003

T%

Prime + 1.75%

T%

Prime + 1.75%

EPS $
-2.945

0.168
0.678
0.366
0.000
0.035
0.407
0.952
0.156

ases)

Interest

19 October 2017

19 October 2022
30 May 2013
29 May 2015

DivS
0.000
0.480
0.000

P/E
N/M
N/M

256.6

0.000
0.001

4.540
0.002

0.000
0.000

9.03
261.90

NAV 6MTH
1.403783
2.898993
1.489232

NAV Date

28-Feb-10
9-Apr-10
31-Jan-00
31-Mar-10
31-Mar-10
31-Dec-09
31-Mar-10
31-Mar-10
31-Mar-10
31-Dec-09

101.669300
96.739830

31-Dec-09

31-Dec-09

Pp
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

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

FRIDAY, APRIL 16, 2010, PAGE 7B



‘Relative payments’
broke corruption law

FROM page 1B

being concerned with other issues,
and the “relatives” were not identi-
fied by name. It is unclear whether
they are related to politicians or civ-
il servants, and if these alleged pay-
ments took place under the current
FNM administration or former PLP
government.

Yet given that Plainfield and its
Seaside Heights investment vehicle
only formalised their partnership
with Mr Stein to develop the South
Ocean project in August 2007, it
appears more likely that the alleged
payments - if they occurred at all -
were made when the former Christie
government was in office.

The Tribunal ruling also painted a
somewhat unflattering picture of
what foreign investors believe it
takes to win Bahamian government
approval for their projects, the thrust
of its content being that some feel
extravagant spending and ‘flashing
the cash’ is what it takes.

Responding to Plainfield’s allega-
tions that the New South Ocean
development was “charged hun-
dreds of thousands of dollars to sup-
port Mr Stein’s extravagant
lifestyle”, he and RHS Ventures
defended their spending by “stating
that such expenditures were neces-
sary to impress the Bahamian

authorities, with whom they were
negotiating, with their gravitas and
commitment to the project”.

With mild understatement, the
ruling found: “The Tribunal rejects
this suggestion that business can
only be successfully done aboard
$150,000 yachts.

“Mr Peter Venison, who had
developed the Atlantis hotel pro-
ject, a very large and successful
resort project in the Bahamas, work-
ing with the same individual as
prime minister now [Hubert Ingra-
ham] as a decade earlier, conducted
all of his meetings in the Prime Min-
ister’s Office and stayed at a hotel.

“It was his view that it would be
counterproductive to have meetings
with government personnel in
extravagant quarters, as it would
make the officials think that you
were ‘wasting money rather than
conserving it for the real purpose’.”

Then, Mr Stein and RHS Ven-
tures alleged that “by impressing
the governmental authorities with
the luxurious premises in which they
were received, a tax saving of $4
million was achieved”.

This claim, though, was quickly
shot down by the Tribunal. “Mr
Stein conceded at the hearing that
the tax saving was the result of capa-
ble work by Bahamian lawyers.

“In any case, it strains credulity
that entertaining on a yacht rather

than meeting in an office would
result in a governmental represen-
tative foregoing a $4 million tax col-
lection,” it found.

Elsewhere, Mr Stein was criticised
for allegedly transferring $250,000
held in escrow at the Bahamian law
firm of Valentine Grimes, which had
been earmarked to pay Stamp Tax
on land acquired at South Ocean,
to his own bank account in March
2008.

Transfer

This transfer, the Tribunal found,
was not disclosed to Plainfield/Sea-
side Heights, and caused the hedge
fund to pay the full Stamp Tax
amount from its own pocket instead.
There is nothing to suggest Mr
Grimes or his law firm did anything
wrong.

“Mr Stein attempted to explain
that this transfer of the $250,000
escrowed sum was proper because
he had transferred a similar sum of
$235,000 to the same law firm before
the formation of the partnership,
arguing that accordingly these were
monies for which he should be reim-
bursed,” the Tribunal recalled.

“However, the schedule showing
the substantiation for Mr Stein’s pre-
formation expenses contained a line
item for the $235,000 delivered to

that law firm.

“Thus, Mr Stein received equity
credit in his capital account for this
$235,000 pre-formation expenditure
in 2006, and was not entitled to
receive the escrowed sum of
$250,000 in 2008. Mr Stein conceded
that it would not be proper to be
paid twice.”

Another dispute arose over the
$1.5 million that had been ear-
marked as deposits in transactions to
buy-out the existing homeowners at
South Ocean, who live adjacent to -
and in the middle - of the proposed
development site.

“The acquisition of these homes,
which were located in an area that
was viewed as problematic for the
project development, was urged by
Seaside Heights representatives, and
was important to them,” the Tri-
bunal found. “Seaside Heights pro-
vided the $1.5 million for the specific
purpose for which it was earmarked
because of its interest in correcting
what was seen as a defect in the land
assemblage.”

No deposits were ever paid,
though, and the Tribunal ruled that
despite claims by RHS Ventures
that the $1.5 million had been used
to pay Stamp Taxes, and
Seaside/Plainfield was informed,
there was no documentation to sup-
port this. The latter denied it, too.

ATT
profit rises 37%

UB By ay

SAN FRANCISCO —
Google Inc. is thriving again,
and feeling so good about the
economy that it's spooking
investors, according to Assoct-
ated Press.

The company's first-quarter
earnings exceeded analyst esti-
mates and its revenue growth
accelerated for the third con-
secutive quarter. More people
clicked on Internet ads pow-
ered by its dominant search
engine. But the results released
Thursday didn't impress
investors, who appeared wor-
ried that the strengthening
economy may cause Google to
abandon some of the financial
discipline that it exerted dur-
ing the recession. The compa-
ny's shares tumbled almost 5
percent in extended trading.

Investors also might have
been unnerved to see a decline
from the previous quarter in
the prices paid for Google's ads.
The average first-quarter price
fell 4 percent from the fourth
quarter. But it was 7 percent
above the average rate at the
same time last year.

The architect of Google's
cost cutting, Chief Financial
Officer Patrick Pichette, left lit-
tle doubt the company is loos-
ening its pursestrings again.

"We are continuing to invest
heavily in people, products and
acquisitions,” Pichette told ana-
lysts in a Thursday conference
call. Pichette, who joined
Google in 2008, steered the
conference call, filling Google
CEO Eric Schmidt's usual role.
It marked the first time that
Schmidt hasn't been on
Google's earnings conference
call since the company went
public in August 2004.

The decision to have Schmidt
sit out the call was disclosed to
The Associated Press several
weeks ago.







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PAGE 8B, FRIDAY, APRIL 16, 2010

FROM page 1B

In his latest report to the
Bahamian Supreme Court, Antho-
ny Kikivarakis, the Deloitte &
Touche (Bahamas) partner
responsible for liquidating Cale-
donia Corporate Management,
warned that the 2 per cent of client
assets already paid into a security
account was “insufficient to cov-
er the current costs incurred in the
company’s liquidation”.

As a result, the Deloitte &
Touche (Bahamas) partner said he
was planning to approach the
Supreme Court for an Order that
he use a further 2.5 per cent of the
client assets that Caledonia for-
merly held on trust to fund the liq-
uidation, given that the broker’s
insolvency prevented it from fund-
ing the wind-up itself.

This 2.5 per cent would come
from a further 8 per cent of client
assets Mr Kikivarakis had already
been authorised to hold in escrow,
to cover potential liquidation costs.

“Due to the complexity of the
company’s liquidation process and
the challenges encountered in exe-
cuting my duties as the company’s
official liquidator, I believe that
[Caledonia’s] liquidation process
has come to a pivotal point, and I
will require directions from the
Supreme Court to ascertain the
most efficient and effective way to
execute my duties,” Mr Kiki-
varakis alleged in his report to the
Supreme Court.

He will now seek a Supreme
Court order for “the use of an



eee

THE TRIBUNE

$25m broker wind-up reaches ‘pivotal point’

assets to cover the company’s liq-
uidation costs”, plus a ruling “to
transfer the remainder of the
clients’ 8 per cent to them, after
the deduction of an additional 2.5
per cent as mentioned above”.

Mr Kikivarakis’s report said he
and his attorneys had not been
paid their liquidation fees -
totalling some $1.06 million - for
some 15 months, from January 1,
2009, to end-March 2010. Of this
sum, $830,000 was due to Deloitte
& Touche (Bahamas); $155,000
due to Alfred Sears, his attorney,
at Sears & Co; and $73,000 due to
his US attorneys, Borden Gervais
LLP.

However, the report said just
$53,393 was left in the Clients’
Security Account from the 2 per
cent originally paid over, a sum
that amounted to $1.338 million.

Mr Kikivarakis said only
$120,143 of the 2 per cent sum
remained to be collected, and with
$1.06 million in fees allegedly out-
standing, he concluded: “The 2 per
cent ordered by the Supreme
Court is insufficient to cover the
current costs incurred in [Caledo-
nia’s] liquidation.”

Well-placed sources told Tribune
Business yesterday that Caledo-
nia’s clients, desperate to recover
their remaining assets more than
two years after the company was
placed into court-supervised liqui-
dation, are less than pleased that
the liquidator wants more money

to finance the liquidation. This
newspaper was told that clients
were especially concerned that the
liquidation team had incurred
another $1 million-plus costs at a
time when no judge had been
appointed to oversee the Caledo-
nia liquidation. The liquidation has
been without judicial supervision
since Justice Lyons resigned.

Meeting

Tribune Business was told that
these were concerns were sup-
posed to have been raised at a
meeting between the Clients’
Committee and Mr Kikivarakis
scheduled for yesterday, but this
is understood to have been can-
celled.

Meanwhile, Mr Kikivarakis said
he would also seck a Court Order
requiring Caledonia’s “former
management, shareholders and
certain employees”, plus Marcus
Cheetham, president of South-
worth Consultants, the company’s
information and technology con-
sultants, to give depositions on
“their actions prior” to the liqui-
dation.

The liquidator alleged that Mr
Cheetham had sought a meeting
with him “to discuss issues” men-
tioned in his last Supreme Court
report, “concerning the removal
of [Caledonia’s] information and
records”.

“T agreed to meet with the pres-
ident, but was later advised that
he was no longer interested in
meeting with me. My request for a
subsequent meeting was not fruit-
ful,” Mr Kikivarakis alleged.

Mr Kikivarakis had previously
alleged he had uncovered evidence
of a plan to delete Caledonia’s
records prior to the liquidation,
although Southworth Consultants
said it was unaware how these had
been erased.

“(Caledonia’s| former manage-
ment appears to have acted irre-
sponsibly in exercising its fiduciary
responsibility, which has impact-
ed if not all, most of the company’s
clients,” Mr Kikivarakis alleged.

“From an analysis of my find-
ings thus far in the company’s liq-
uidation process, I verily believe
that the company’s management,
shareholders and certain employ-
ees should be deposed to assist the
affected clients in recovering their
assets that were lost, and to explain
their actions.”

Caledonia collapsed into liqui-
dation after suffering an almost-
$25 million trading loss, which
resulted when Jitney, its Canadian
correspondent broker, sold off
assets to cover an overdrawn mar-
gin loan balance that was not col-
lateralised by the client who had
created the ‘hole’ in question.

That overdrawn balance was in
an account operated nominally by
a Ron Wyles, whose trading activ-

ities were directed by George
Georgiou, a Canadian who has
since been of securities fraud in.

Much of the fraudulent activity
was allegedly directed from the
Caledonia account.

Jitney ended up selling off assets
belonging to Caledonia clients oth-
er than Wyles/Georgiou because
they were all pooled in one
omnibus account with it, with no
segregation. The duo had alleged-
ly been engaged in short-selling, a
high-risk trading strategy suppos-
edly collateralised by so-called
‘penny stocks’, and incurred sub-
stantial losses that eventually sunk
Caledonia.

In his latest Supreme Court
report, Mr Kikivarakis alleged that
he had uncovered a $500,000 short-
fall at a FirstCaribbean Interna-
tional Bank (Bahamas) account
operated by Caledonia.

He alleged that “some clients’
assets were removed from their
accounts, and we were unable to
ascertain why the funds were
removed or trace where the funds
went”.

“Clients were allowed to obtain
overdrawn balances at First-
Caribbean, using other clients’
assets, without their knowledge or
consent.

“As a result of this, clients with
positive cash balances may incur
losses if overdrawn balances are
not recovered,” Mr Kikivarakis
alleged.







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Volume: 106 No.119

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Woman pleads not
guilty to charges

A PARENT accused of
assaulting and threatening a
public school teacher was
arraigned in a Magistrate’s
Court yesterday.

Police have charged Thalia
Vanessa Duncombe, 33, of
Faith Avenue with assaulting
Eloita Hamilton, a teacher at
Anatol Rodgers High School.

The incident is alleged to
have taken place on Tuesday,
April 13.

It is also alleged that on the
same day, Duncombe made
death threats to Hamilton and

caused damage to a $59 pink
necklace.

Duncombe, who appeared
quite subdued, was taken
under police escort from the
Central Police Station in East
Street to Court Six in Parlia-
ment Street yesterday after-
noon, where she appeared
before Magistrate Ancella
Williams and a courtroom
packed with spectators.

She pleaded not guilty to
the charges and opted to have

SEE page 11

COB and union no
closer to agreement

PUBLIC dialogue between the College of the Bahamas and
the Union of Tertiary Educators of the Bahamas towards
securing an industrial agreement has not improved today, the

last day of classes.

Although the two groups have continued to negotiate despite
UTEB’s ultimatum to withdraw labour, both continue to make
and refute claims against each other’s intentions and character
and are still without agreement on a number of critical items.

The College of the Bahamas has maintained that no salary
payments will be made to participating union members for

the duration of a strike.

Anticipating the union strike on Monday, the first day of final
exams, alternate invigilators have been established and students
are advised to attend all their scheduled examinations.

SEE page 11











USA TODAY aire

BAHAMAS EDITION



www.tribune242.com

FRIDAY, APRIL 16, 2010

y teacher

FIREFIGHTERS at the
scene of the fire on
Theliase" Boulevard.

By NOELLE
NICOLLS
Tribune Staff
Reporter
nnicolls@
tribunemedia.net

A FIRE destroyed
the entire Thompson
Boulevard factory of the
family owned business,
Imperial Mattress, yes-
terday.

An alarm system
alerted the proprietors
of the blaze. They con-
tacted the police shortly
before 3am Thursday.

“When the (fire ser-
vices) got there they met
the entire building
engulfed with flames.
They were able to con-
tain it within a relatively
short period of time,”
said Sergeant Chrislyn
Skippings, police press
liaison officer.

SEE page two

OT ae
ms

Sy
BAHAMAS BIGGEST

Parent accused of



PRICE —75¢ (Abaco and Grand Bahama $1.25)



SEE PAGE NINE

Officer who shot
Brenton Smith
‘changed account
of the shooting’

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net





THE police officer who fatally shot Brenton



Smith came under fire yesterday for changing his
account of the shooting after hearing evidence in
court, an inquest heard.

Coroner William Campbell highlighted how
Detective Corporal Kelsie Munroe reported in his
written statement how he had first encountered the
teenager face to face at a break in the wall leading

SEE page eight















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Former Minister: more
detailed research needed
before land law changes

AS THE government prepares to amend a
number of laws relating to generation and com-
monage land, a former Minister with responsi-
bility for the area said that more “detailed”
research should first be conducted before any
amendments become law.

In yesterday’s Speech from the Throne, deliv-
ered by Governor General Sir Arthur Foulkes, it
was said that the government would be creating
a Land Adjudication Bill to permit the certifica-
tion of fee simple title to generation and com-
monage land.

The issue of how to deal with generation and
commonage land is a problem with which law-
makers have battled for years. And as George
Smith, the former Minister of Lands in the first
PLP government, said, any “new solutions” that
this government will be putting forward must
take into account not just this generation, but

SEE page eight

MARSHALLTOWN

The Premier Line





Volcanic ash forces BA
Nassau flights cancellation

BRITISH Airways, the only airline pro-
viding direct flights between the UK and
The Bahamas, has cancelled its flight to and
from Nassau today because of the volcanic
ash spreading across northern Europe after
the volcanic eruption in Iceland.

In an unprecedented move, British
National Air Traffic Services yesterday
grounded all but emergency flights in and
out of the UK — a step also taken in other
countries, including Ireland, Denmark, Nor-
way, Sweden and Finland and the Nether-
lands as a result of the eruption.

Yesterday evening a British Airways
(BA) spokesperson advised that all BA
flights scheduled to leave the UK before
noon today would be cancelled. This result-
ed in the cancellation of the BA0253 Lon-

SEE page eight





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NASSAU AND BAHAM/

ISLANDS LEADING NEWSPAPER
PAGE 2, FRIDAY, APRIL 16, 2010 THE TRIBUNE

Tributes paid to late

former Chief Justice
at the Supreme Court



THE FAMILY of the late Sir Joaquim Gon-
salves-Sabola and members of the legal fraternity
gathered for a special sitting of the Supreme Court
yesterday to pay tribute to his memory.

Sir Joaquim, affectionately known as “Sir Joe”,
served as the country’s Chief Justice from 1989 to
1995 before being appointed as Court of Appeal
President — a post he held until his retirement in
1999. He also served as a consultant for the firm of
McKinney, Bancroft and Hughes.

Brian Moree, senior partner of the firm,
described Sir Joaquim as a man who he held in the
highest esteem.

"He was a man who possessed the rare combi-
nation of character and ability, he was the quin-
tessential judge. He was a man of quiet dignity,” Mr

Moree said. “He contributed greatly to the devel-
opment of jurisprudence in the Bahamas.

“He was one of the finest and most distinguished
jurists in the region.”

Chief Justice Sir Michael Barnett described Sir
Joaquim as a “scholar of the law.”

“He was a jurist not afraid to push the enve-
lope in the course of justice,” he said.

Sir Michael noted that Sir Joaquim was influ-
ential in the preparation of the Supreme Court
Act as well as the Judge’s Remuneration and Pen-
sions Act.

Also paying tribute to his memory yesterday
was Attorney General John Delaney, who
described Sir Joaquim as having “excellent judicial
temperament and demeanor”.





FIRE DESTROYS IMPERIAL
MATTRESS FACTORY

FROM page one

Police are still investigating
the cause of the fire.

“Tt is too early to tell how
much of a set back this is for
our business. We do not have
a temporary location to
assemble our manufactured
goods at this time and from
the extent of the fire we
doubt any of the machinery,
equipment or raw material
are salvageable,” said Ralph
Barnett, Imperial Mattress
owner.

While the building was
totally destroyed, police do
not suspect any injuries at this
time. “Our knowledge was
that no one was in the build-
ing,” said Sergeant Skippings.

Mr Barnett said inside the
factory were finished mat-
tresses, box springs, pillows,
raw material, machinery,
office furniture and other
equipment. The value of the
lost property has not been
determined as yet.

“We plan to fill outstand-
ing orders from supplies at
our warehouse. This is an
unfortunate and unexpected
situation in which we find our-
selves at this time. We would
like to thank all of our loyal
customers who have support-
ed us over the past 37 years
and hope they will continue

TROPICAL
aS

FOR PEST PROBLEMS
PHONE: 822-2157



to support us in the future,”
he said.

Around midday yesterday,
police were still trying to
extinguish fire that was burn-
ing in certain portions of the
interior. Their efforts during
the day were hampered when
the roof of the building caved
in.

Imperial Mattress started
as a small company with three
employees and one location
on Mackey Street. It now
employs over 30 people in
multiple locations, still retain-
ing two of the original
employees.

No disruptions are expect-
ed in the operations of other
locations, although the sup-
ply of new beds and furniture
may be hampered with the
lossof the manufacturing
plant.





A FIREFIGHTER tackles the
blaze at the Imperial Mattress
factory. The blaze destroyed the
entire factory on Thompson
Boulevard.

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Senior Manager,
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FAMILY GUARDIAN

INSURANCE COMPANY LIMITED ——=#3te_—

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Sy RET Le SNC tov UVLO dO el SATO



















Beryn Neeley appointed S

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

Mr. Neeley achieved a Bachelor of Arts de award.

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

INDEX

MAIN/SPORTS SECTION

Accounts, at Family Guardian

Patricia Hermanns, President & C
Guardian has announced the appointm

Neeley to the position of Senior Manager,

Commerce and Economics atthe Universi
Toronto, Ontario, Canada; he is also a Ce
Accountant. Mr. Neeley has much ex
commercial and offshore banking in whic

various roles inthe accounting and fin

Family Guardian welcomes Mr. Neeley t

BUSINESS SECTION
Business

CLASSIFIED SECTION 32 PAGES

USA TODAY MAIN/SPORTS 12 PAGES



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THE TRIBUNE

LOCAL NEWS

FRIDAY, APRIL 16, 2010, PAGE 3



Call on Christie
to pick ‘hest
and brightest’
for election

AS the Progressive
Liberal Party continues
to roll out its slate of
candidates for 2012 gen-
eral election, a former
PLP Cabinet minister is
calling on opposition
leader Perry Christie to
ensure that the party is
picking the “best and the
brightest” to offer to the
Bahamian public.

In a memorandum
issued to Mr Christie,
former MP for Exuma
George Smith said the
new candidates must
possess the qualities of
“patriotism, intelligence,
integrity, humility, com-
passion, passion, person-
ality, communicative
skills, commitment and
courage”.

“It would be perilous
to nominate anyone at
whose feet charges of
corruption, greed, self-
ishness, arrogance, aloof-
ness, ignorance, could be
justifiably laid.

“You must guide the
process to ensure that
the Bahamas gets a gov-
ernment worthy of the
people’s hopes and aspi-
rations. If we fail to do
so, we would evoke the
people’s wrath,” he said.

Mr Smith said “deci-
sive action” must be tak-
en with complete hon-
esty and transparency in
order to restore the
respect and goodwill of
the Bahamian people
towards the PLP.

“Re-commitment to
the core values of the
PLP is vital. This must be
done, first and foremost.
It must start with your
own self-examination
and renewal. You must
then require all party
leaders, operatives, and
supporters to follow your
lead. Each candidate
must pledge to promote
the principles of the par-
ty throughout the coun-
try.

“In this way we will
grow in solidarity with
each other, with our peo-
ple and we will deepen
our values and commit-
ment to the party and the
country,” Mr Smith said.

Two in hospital
after stabbing
incidents

POLICE are investi-
gating two stabbings
that took place on
Wednesday afternoon.

The first occurred at
4.20pm in Elizabeth
Estates when two broth-
ers, ages 21 and 25, got
into an altercation
which resulted in the
younger sibling being
stabbed in the back.

The victim was taken
to hospital by ambu-
lance. No information
on his condition was
available up to press
time.

About 20 minutes lat-
er, officers were called
to Thompson Lane off
East Street, where
another altercation led
to a 25-year-old man
being stabbed in the
stomach.

He was taken to hos-
pital and is listed in sta-
ble condition.

FIREARM/
DRUG ARREST

A 27-year-old man
and an 18-year-old
woman were arrested on
Wednesday in connec-
tion with a drug and gun
find in Elizabeth
Estates.

Officers executed a
search warrant ona
home in Cyprus Court
just before 10pm and
found a high-powered
rifle, two handguns, a
bullet proof vest and a
quantity of marijuana.

Police are investigat-
ing.



Anti-crime advocates, lawyers
react to bail limits proposal

By ALISON LOWE
Tribune Staff Reporter
alowe@tribunemedia.net

ANTI-CRIME advocates
and lawyers are at odds over
the government’s proposal to
further restrict who can be
granted bail by the courts as a
means of addressing the crime
problem.

Invited guests applauded at
the opening of parliament on
Wednesday when Governor-
General Sir Arthur Foulkes
announced that the govern-
ment would amend the Bail
Act to further restrict the
right to bail for persons
charged with serious crimes
and limit the circumstances
under which bail can be grant-
ed.

The Speech from the
Throne, which outlines the
government’s legislative agen-
da ahead of a new session of
parliament, prefaced this
announcement by noting that
“a number of persons who
commit crimes do so whilst
on bail pending trial for other
offences.”

The granting of bail to peo-
ple charged with serious
crimes has long been a topic
of heated debate, especially
in cases where those individ-
uals go on to commit further
crimes or intimidate witnesses
or victims.

However, law practitioners
have noted that the Bail Act
already states that bail should
be denied to people charged
with murder and armed rob-
bery and expressed concern
about the extent to which it
is possible for the government
to successfully restrict the
granting of bail through
changes to the law, or with-
out a constitutional amend-
ment brought about through a
referendum vote.

Presently, Supreme Court
judges typically grant bail
notwithstanding the restric-
tions that exist in the Bail Act
on the basis that the consti-



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ae

a



GOVERNOR GENERAL ei Antti sue ae oe the aaron ale amend the Bail Act

tution provides for the right
to bail for persons who cannot
get a trial in a “reasonable”
period of time, generally
deemed to be around two or
three years — a typical sce-
nario due to the backlogged
court system.

It is not yet apparent how
the proposed amendment
would “get around” the fact
that the constitution provides
for the release on bail of
defendants who cannot be
tried in a timely fashion.

Messages left for Minister
of National Security Tommy
Turnquest yesterday seeking
comment on the matter were
not returned up to press time.

Nevertheless, anti-crime
advocates such as Bishop
Simeon Hall, chairman of the
National Advisory Council on
Crime, welcomed the
announcement as a concrete
step towards addressing the
crime problem.

Bishop Hall commended

Mr Turnquest and said he
hopes the amendment will cut
down on the “havoc” being
wrought by a minority of
hardened criminals.

“When we did the crime
commission that was particu-
larly of concern to our com-
mission (the number of peo-
ple being released on bail who
go on to commit further
crimes). I am pleased to see
the government taking the
talk out of thin air and turn-
ing it into action as it relates
to the Bail Act,” said the
bishop.

“Draconian measures must
be taken in these times of
high criminality where crimi-
nals are wreaking havoc on
our society,” he added, not-
ing in response to concerns
about the constitutionality of
any amendments that he feels
the constitution “should serve
the people rather than the
people serving the constitu-
tion.”

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“Right now we have a cou-
ple hundred men wreaking
havoc on Bahamians and we
have to fix that,” said Bishop
Hall.

But given the stipulations
about bail in the constitution,
one prominent attorney with
many years of criminal law
experience suggested that the
matter is more a question for
judges than politicians.

He said the legal establish-
ment needs to have more con-
cern for what is happening to
society and stop granting bail

individuals who are
aie with serious crimes
or who appear likely to offend
while on bail.

The attorney, who wished
to remain anonymous, noted
that up until the early 1990s it
was “quite rare” for judges to
grant bail for people charged
with murder in particular.

He said judges need to
rethink what they are consid-
ering a “reasonable” period
of time “against the back-
ground of everything that’s
going on in society.”

“You have to see where the
line can properly be drawn
and given all factors prevail-
ing — including inescapable
evidence that much of the
serious crimes are being com-
mitted by people on bail hav-
ing been charged with serious
offences — and considering we
have this constitutional man-
date to make a judgment, as
to what is a reasonable time,”
said the attorney.

Lawyers whose clients are
asking for bail must stop try-
ing to persuade a judge if they
have good reason to consider
that the client may reoffend,
among other things, he added.

“Everyone needs to have a
little bit more concern about
the general good of the com-
munity. Your client is always
asking you to do this, do that
and the other. You have to
start off with what is right and
proper. If you think it is right
and proper that your client
should get bail, then go ahead
and try to persuade the
judge,” said the attorney.

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PAGE 4, FRIDAY, APRIL 16, 2010

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986
Advertising Manager - (242) 502-2352

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

Wednesday’s Throne Speech not the shortest

YESTERDAY’S six-page Throne Speech,
read by newly-appointed Governor-general
Sir Arthur Foulkes at the opening of parlia-
ment Wednesday, was the shortest in living
memory. Or so said the commentators.

We can only conclude that “living memo-
ry” among Bahamians must be very short
these days as the shortest Throne Speech
that we can recall was delivered on October
24, 1988 during the Pindling administration.

That speech consisted of six short para-
graphs, including the salutation and prayerful
conclusion. It was so short that it was almost
lost on one page.

It was “delivered” at a tme when the late
Sir Henry Taylor, a very ill man, was gover-
nor-general.

He was incapable of reading anything.
Someone — again drawing on memory —
claimed that the government kept the speech
to a few short paragraphs so that Sir Henry
could memorise it. However, it was believed
that when delivery time came, Sir Henry had
to ad lib because he had forgotten what he
was programmed to say.

Whether this is true or not we do not know
without further checking Tribune files.

However, the minutes of the House reflect
that something must have gone wrong during
delivery because Hansard reported:

“The House accordingly attended, and
having returned, Mr Speaker reported that
His Excellency had been pleased to open the
Session with a (here there is a blank space) of
which to present mistakes he had obtained a
copy which he read from the Chair as fol-
lows —”

We believe that the word “present” is an
error and should have read “of which to pre-
vent mistakes he had obtained a copy which
he read from the Chair.” In other words the
Speaker was re-reading Sir Henry’s speech to
members of the House to prevent any mis-
understanding.

Here is what Sir Henry should have said
on Monday, October 24, 1988 in the Senate
chamber, where House members were sum-
moned to attend.

“Mr President and Honourable Senators,
Mr Speaker and Members of the Honourable
House of Assembly.

“My Government will continue to make
every effort to improve the quality of the life
of the Bahamian people.

“My Government will ask you to approve
the Parliamentary Pension Bill and the
Administration of Estates Bill.

“Legislation to modernize the company
laws, to provide incentives for Family Island
development and to enhance the interna-
tional reputation of The Bahamas as a finan-





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cial centre as well as other measures will be
put before you.

“Mr President and Honourable Senators,
Mr Speaker and Members of the Honourable
House of Assembly:

“T pray that the blessing of Almighty God
may rest upon your counsels.”

And so ended what could possibly have
been the shortest Throne Speech in Bahami-
an legislative history.

Sir Arthur’s six pager was a marathon by
comparison, and, as Dionsio D’ Aguilar, for-
mer Chamber of Commerce president, point-
ed out — as an accountant he considered gov-
ernment’s attempt to deal with 35 Bills “an
ambitious agenda”, especially considering
that only 18 months were left to the life of the
current House.

However, like other critics, he would have
liked to have had government expand more
fully on the direction it was taking so that
there could be more input from the private
sector.

Philip Smith, a former High Commission-
er, who was one of a panel of three com-
mentating on the speech, was extremely dis-
appointed that government did not outline its
programmes so that businesses and others in
the community would know how to plan for
the future.

However, former House Speaker Italia
Johnson, saw it differently. She did not think
that such speeches should be long. She would
prefer to see less verbiage and more hard
work — in other words, settle down and get
the job done, don’t waste breath on saying
what you plan to do.

She pointed out that Wednesday’s six-
pager was certainly not the shortest that she
had seen as House Speaker. She recalled one
that was a few words on a page. She must
have been referring to Sir Henry’s Speech.

In one short paragraph the government
made it clear on Wednesday the path it was
taking: It was firmly “committed to the mod-
ernization of government and the delivery
of improved public services.”

To do this it has put before the House
“an ambitious legislative agenda of reform
and modernization.”

It has listed the 35 areas on which it plans
to focus its attention, one of which is the Bail
Act, which will be a popular item with the
public many of whom are concerned about
the number of persons with long criminal
records being released on bail by the courts
and who are continuing their life of crime
while awaiting trial.

And so on six pages much legislative work
has been outlined, which we expect both sides
of the House to come together to complete.





Action needed
now to address the

country’s problems
LETTERS

EDITOR, The Tribune.

Ordinarily I would not have
bothered to write and especial-
ly on the subject that I have,
over these many weeks, but
when the highest power wakes
me up in the middle of the
night with a story for His peo-
ple, it leaves me no choice but
to comply. Here’s His word to
the Commonwealth of The
Bahamas.

The world said to be in reces-
sion specific investments in the
Bahamas are now on the
decline: serious crimes at an
unacceptable level. To date,
there have been 22 murders, as
we come to the close of March
2010.

The declining levels of polit-
ical debates in our Parliament,
teenage pregnancies among
school age children are unac-
ceptable. Unemployment num-
bers also too high. Social deca-
dence all around. No clear
political direction. Neighbour-
hoods, now shanty towns. Pub-
lic transportation, in a state of
chaos.

The police being expected to
single handily resolve the prob-
lems of crime in our Bahamas,
when there must be a political
response in conjunction with
other agencies of government,
since it appears that parents
have failed.

The national debt of the
Bahamas pegged at four-billion
dollars (broken down is actu-
ally 4,000 million dollars).
These borrowings spans some
43 years — 1967-2010. Who will
pay this? Can it be paid? Where
will the money come from?
Have we been paying it? Do
we intend to pay it? Do we care
whether or not it is paid? Given
all of the talk among politicians
regarding fiscal discipline do
we know what it means? On
the one hand we talk about it,
but the truth is, the bare facts
bears out something complete-
ly opposite to what we’ve said.

Take for instance the
Bahamas Government and gov-
ernment related departments,
corporations and companies,
that are being housed in pri-
vately owned buildings and the
Bahamian tax payers having to
pick up the monthly/yearly tabs
for these arrangements made
by both political parties, Free
National Movement (FNM)
and the Progressive Liberal
Party (PLP) Why have we not
seen the wisdom to construct
our own buildings? While it
may be true that many of the
ministries are housed and/or
headquartered in Government
owned buildings, the truth of
the matter is that to a greater
extent very many of them are
not.

The Bahamian people
deserve to know what amounts
per month, the Public Treasury
pays out in rent? A perfect
example of the rich getting rich-
er, on the backs of struggling
Bahamian taxpayers.

God expects us to demon-

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strate good stewardship, as we
seek to manage his resources.
Both political parties negotiat-
ed these terms and accepted
the obligations apparently with-
out considering the long term
strain on the Public Treasury.

This reality leaves many to
wonder whether or not those
that were negotiating for and
on behalf of tax payers really
did have the people’s best inter-
est, and that of the Public Trea-
sury at heart? Evidenced by the
number of Government min-
istries, departments and corpo-
rations being operated from
leased premises: Here is a par-
tial list for New Providence,
only.

Listings for The Bahamas
Government and Government
related Departments Corpora-
tions and Companies

¢ Auditor General Office of
the Auditor General - 1st floor,
Norfolk House;

¢ Bahamas Electricity Cor-
poration — Mall-At-Marathon;

¢ Bahamas Environment Sci-
ence & Technology Commis-
sion — Nassau Court;

¢ Bahamas Information Ser-
vices - East Bay Street;

¢ Bahamas Telecommunica-
tions Company Limited —
Mall-At-Marathon;

¢ Cyberworld (Bahamas) Ltd
- The Old Mike’s Shoe Store
Bldg;

¢ Compliance Commission -
Charlotte House;

¢ Deputy Prime Minister
Office of the Ministry of For-
eign Affairs Goodman’s Bay
Corporate Centre;

¢ Consular Division - Min-
istry of Foreign Affairs, Nor-
folk House;

¢ Hotel Corporation of The
Bahamas - Marlborough &
Navy Lyon Road;

¢ Judiciary - British Ameri-
can Bank Bldg;

¢ Registrar of The Supreme
Court - Ansbacher House, East
Street and Bank Lane;

¢ Department of Meteorolo-
gy - Crawford Street, Oakes
Field;

¢ Public Utilities Commis-
sion - 4th Terrace East Centre-
ville;

e Registrar General’s
Department - Civil Registry,

Apfley House;

¢ Corporate Registry - 50
Shirley Street;

¢ Data Management Section
- British Colonial Hilton;

¢ Royal Bahamas Police
Traffic Division - Old Ware-
house Building;

¢ Royal Bahamas Police
Tourism Division - Old Bay
Street, Garage Building;

¢ Securities Commission of
the Bahamas - Charlotte
House;

¢ The Insurance Commission
of The Bahamas - Charlotte
House;

¢ Hotel Licensing - Nassau
Court;

¢ Industry Training Division
- Tourism Training Centre,
Norfolk House;

e Treasury Department -
British American House;

e Water & Sewerage Corpo-
ration - Mall-At-Marathon;

¢ Social Services Department
- Outreach Centre VB
Munnings Building, Pitt Road;

¢ Office of the Original
Opposition - Bayparl Building;

¢ Office of the Speaker of
the House of Assembly - Bay
and Parliament Streets.

There was one such arrange-
ment for which I was able to
get the figures: This particular
property values around
$600,000, but the lease was
pegged at $10,000 per month.
This arrangement has been
ongoing for 15 years plus.
Doing the math $10,000 x 12 =
$120,000 x 15 years =
$1,800,000.

Why have we not seen the
wisdom to construct our own
facilities?

Shifting gears, we cannot dis-
pel the variety of the serious
crime issues in the Common-
wealth of The Bahamas, and
the need to fix The Bail Act? If
no reparations are undertaken
expeditiously chances are the
killing and armed robberies
may continue unabated.

This, my fellow Bahamians,
will impact the national secu-
rity of the Bahamas. If we do
not believe or think so the Gov-
ernment of the United States
of America might.

The time is now, action must
be now. There is no waiting
until tomorrow, it must be done
now.

F GILBERT
Nassau,
April, 2010.

et AUT OT Cag

EDITOR, The Tribune.

in your paper.

and it would be done.

BILLY SANDS
April 14, 2010.



I would be grateful if you would allow me a couple of lines

The prime minister has declared that his government cannot
control the illegal numbers business (shame on you). However
he thinks he can control these houses if they make gambling
legal, I ask where is the logic in this?

I submit it can be controlled if there is the will to do so, and
all you need do is raid these places once a week, I mean it
isn’t like you don’t know where they are. It is much like the
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Policies to protect against child abuse |

numbering effort

FRIDAY, APRIL 16, 2010, PAGE 5

LOCAL NEWS

claims advised for daycare centres

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



DAYCARE centres and preschools
are being advised by their governing
association to put in place polices to
protect against claims of child abuse.

Kris Sandiford, president of the
Bahamas Childcare and Preschool Asso-
ciation (BCPA), said daycare centre
employees should always wake children
when they arrive, and again just before
returning them to their parents. “That
would resolve a lot,” said she said.

Ms Sandiford said there are often inci-
dents where a child has a scratch, bump
or a broken skin prior to its arrival at a
daycare centre.

If daycare workers do not make “a
quick examination” of the children they
accept, they expose themselves to lia-
bility, she said.

Ms Sandiford was speaking following
reports of the death of baby Joeshua
Tramaine Swaby, which the parents
allege took place at a New Providence
daycare centre.

Police are investigating the parents’
claim that they collected their three
month, three week old baby from the
daycare centre in an “unresponsive
state” on April 9. The infant was pro-
nounced dead on arrival at the Princess
Margaret Hospital.

Minister: Road
improvement
projects ‘are

a govt priority

The parents are raising questions
about the conduct of the daycare centre,
claiming no authorities were contacted
about the condition of their child.

“We both love God and believe in
the power of God and the power of for-
giveness. If the persons came honestly
and respectfully we may have accepted
it, forgiven and moved on, but none of
that has occurred as yet,” said Gary Swa-
by, Joeshua’s father.

“T am certain the people who operate
the nursery out of common courtesy
could have swiftly and immediately
made contact with the parents and a
physician at the nearby clinic.”

Police

The police have already questioned
the baby's family members and employ-
ees at the daycare centre. They are wait-
ing for an autopsy report to gain more
insight into the cause of death.

Officers have not indicated they sus-
pect foul play.

The nursery is not registered with the
Ministry of Education, although it is in
the process of being registered. It is not
a member of the BCPA.

The last high-profile infant death at a
daycare centre was the 2003 death of
baby Justin Aranha, who died at Hosana
House.

Eight-week-old Justin was suspected
to have suffocated after his feeding at
the nursery. The family was told of the
death nearly four hours after it hap-
pened.

This incident resulted in a coroner’s
inquest. The preschool in question is no
longer in operation.

More then 10 years ago there was a
death at the Infant Education Centre in
Centerville, now closed.

“The newspaper and media really just
slandered the school. When they did the
autopsy they found out that the dead
baby was brought to the school by the
parents,” said a source familiar with that
incident.

In 2004, the government passed the
Early Childhood Care Act to provide
for the regulation and management of
daycare centres and preschools.

The Early Childhood Care (National
Standards) Regulations, 2009 Bill is at
the attorney general’s office being
processed before it is presented to Cab-
inet.

The Bill will establish a Preschool and
Daycare Centre Council and set out the
requirements for licensing and registra-
tion.

“This Act was first requested to be
developed by the now prime minister
from 1997. In years past there was a
proliferation of preschools and as a
result there needed to be some moni-

toring and some regulation. We wanted
to see persons that are trained taking
care of children,” said Agatha Archer,
senior education officer for early child-
hood education in the Ministry of Edu-
cation.

There are about 300 preschools reg-
istered with the Ministry of Education,
although across the Bahamas there are
probably about 2,000 facilities in total,
according to Ms Archer.

“We wanted to know (preschools)
were complying with heath and safety
standards and that they had a good,
sound curriculum. Those are some of
the parameters as to where it came
from,” said Ms Archer.

Ministry

Although the Ministry of Education is
looking into the recent infant death, Ms
Archer said the matter is ultimately the
responsibility of the police.

She said parents are advised to select
preschools carefully and should make
sure they use registered centres.

The Ministry of Education called an
emergency meeting to discuss the recent
incident.

“Tt is a tragic loss but it is an oppor-
tunity now for caregivers to be more
professional and to change the policies in
their centres,” said Ms Sandiford.



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FOLLOWING com-
plaints about the length of
time it is taking to complete
the new Saunders Beach
roundabout, Minister of
Works and Transport Neko
Grant emphasised that the
ongoing road improvement
projects are a priority for
the government.

“We are conscientious of
the fact that traffic needs
to flow and that persons
need to get to places where
work is being done, so traf-
fic management is a major
component of this exer-
cise,” he said.

“We wish to assure the
public that we do not seek
to inconvenience them and
we seek to keep inconve-
nience to a minimum.”

Following a presentation
on April 9 outlining the
progress of the New Provi-
dence Road Improvement
Project (NPRIP), Mr Grant
toured sites including Saun-
ders Beach, Bethel
Avenue, Market Street and
Baillou Hill Road where
works are being carried
out.

Also on the tour were
representatives of the Min-
istry of Works, the Inter-
American Development
Bank and Jose Cartellone
Constructiones Civiles, the
contractors.

The NPRIP is a major
component of the New
Providence Transport Pro-
gramme and is funded by
the Inter-American Devel-
opment Bank and the gov-
ernment. The Project Exe-
cution Unit of the Ministry
of Public Works and Trans-
port manages the project.

Mr Grant said the round-
about at Saunders Beach is
progressing quite well and
all indications are that it is
going to improve the traffic
flow in that area consider-
ably.

“Within the next week to
10 days we should begin
planting the grape trees
that will replace the trees
that have been taken out,”
he said.

Work on the corridor
between Thompson Boule-
vard and Saunders Beach
is also progressing well and
could be finished ahead of
the schedule, Mr Grant
said.

“We also looked at Mar-
ket Street and contrary to
reports of some radio
announcers that signs were
in the wrong direction, hav-
ing inspected them person-
ally today, we know that is

not the case. All signs are
in place at all the junctions.
We also seek to improve
the conditions by putting
down road markings,” Mr
Grant said.

He said the 14 side







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Call for public's
help in building

THE government is asking

: for the public’s support and
; co-operation as the effort to
: number all houses and build-
: ings in New Providence con-
: tinues.

The Ministry of Works and

: Transport, which is carrying
: out the project, is asking home
: and business owners to grant
: its agents access to all proper-
: ties for the installation of
: plaques bearing the assigned
: numbers.

In a statement issued yes-

: terday, the ministry empha-
: sised that the workers assigned
: this task will be carrying prop-
: er identification and that “due
: care will be taken not to dam-
? age the owners’ property”.

Each person installing the

? numbers on homes or build-
: ings has been instructed to
: produce an ID card that clear-
: ly indicates he or she is part
: of the Ministry of Public
: Works and Transport’s house
: numbering team, the state-
; ment said.

The Ministry said it has now

: completed the necessary field
: surveys in areas where there
: were buildings have not yet
: been numbered or were
: wrongly numbered in the past
: and commenced installing the
; numbers on Monday, April
: 15.

Phase 1 for the house num-

: bering exercise will cover the
: southeastern portion of New
: Providence that is bounded by
: Robinson
: Charles Drive in the north;
: East Street in the west, Fox
: Hill Road in the east and the
? sea in the south.

Road/Prince

“The historic exercise of

: correctly numbering the hous-
: es along with the street nam-
? ing project, when completed,
: would make it easier to locate
: streets, businesses and hous-
: es throughout the island of
: New Providence,” said the
} ministry’s statement.

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


PAGE 6, FRIDAY, APRIL 16, 2010

NEWBOLD BROTHERS
CHAPEL

#10 Palmetto Avenue & Acklins Street
P.O. Box N-3572
Nassau, Bahamas
Tel: (242) 326-5773

FUNERAL SERVICE FOR

Ethmore Grace Newbold Seymour, 83

\ of Orange Creek, Cat Island
who died on April 10th, 2010,
will be held on Saturday,
April 17th, 2010, at 11:00
a.m., at St. Agnes Anglican
Church, Orange Creek, Cat
Island. Officiating will be Fr.
Chester Burton. Interment
follows in the Church’s
Cemetery, Orange Creek.

Left to cherish her memories
are: her son and daughter-in-law: Charles and
Madlyn Campbell; grandchildren: Kerry A.
Campbell, Lynette and Brian Conliffe; great
grandchildren: Jehovan Stubbs, Branette and
Brandon Conliffe; sister: Carrie Stubbs; brothers:
Arthur and Revis Stubbs; sisters-in-law: Althea
Stubbs, Betty Stubbs, Vernal Stubbs, Shirley Stubbs,
Lavada Larimore, Eleanor Stubbs, Norma Stubbs and
Evelyn Seymour; nieces and nephews: Barry Miller,
Jackie McDonald, Alma, Wendal, Trevor and Sheldon
Stubbs, Jeff, Mark, Deborah, Patty, Clarice, Kendra,
Nicole, Shawn, Keith, Neil, Eleanor, Elizabeth,
Charlene and Beryl; other relatives and friends:
Joshua and Melanie Stubbs, Maudlene Newbold,
Elsiemae Higgs, Cheryl Seymour, Keva Cartwright,
Byron, Keith, Dr. Winston Campbell, Samuel
Campbell, Mavis Thompson, Janice Munnings,
Christine, Sharon, James, Christopher, Patricia,
Eleanor and Rev. Carl Campbell, Nadene Beneby,
Brenda Simms, Rev. Sebastian Campbell and family,
Zilpha Campbell and family, Bishop Teuton Stubbs,
Christopher and Wentworth Stubbs and family, Virdell
Pinder and family, Ann, Sharon, Angie, Ashley, Roland
Brown and the Brown family, the McDonald,
Newbold, and King families, Helen Thurston and
family, Fr. Chester Burton and the Anglican family,
Eulamae Hepburn and family, Roland Seymour and
family, Arabella Stubbs and family, the Forbes family
and the entire Orange Creek Community.

Relatives and friends may pay their last respects at
the church in Orange Creek, Cat Island, Saturday



THE TRIBUNE

Sir Arthur Foulkes: an
ever present statesman

By ADRIAN GIBSON
ajbahama@hotmail.com

THERE is none more
deserving of the appointment
as the Bahamas’ eighth Gover-
nor General than Sir Arthur
Foulkes. Through all of the
changing scenes of our nation’s
life, Sir Arthur has been an ever
present statesman—in the truest
sense of the word.

Sir Arthur’s growing legacy
and influence has been, and
continues to be, indelibly cast
upon our country’s life as one of
the most remarkable figures in
the history of the local political
landscape and one of the archi-
tects of the modern Bahamas.
That said, I am elated to see
that this nation builder—this
great force of progressivism, to
whom I have long griped about
having his contributions under-
rated—has finally received the
recognition that he deserves.

Tam ecstatic to see that one
of the best kept secrets of
Inagua—indeed, of the
Bahamas—is being shared with
generations of Bahamians.

His Excellency Sir Arthur
Foulkes is one of the founding
fathers of our nation, who tire-
lessly fought in the struggle for
Majority Rule and played lead-
ing roles in elevating our nation-
al stature.

He is a great Bahamian who
has contributed significantly to
public service for most of his
life and, unlike many, has paid
the price of public life.

A first-class politician, Sir
Arthur has paid his dues in the
struggle, admittedly making sac-
rifices, so much so that there
were instances when he went
without a pay cheque, which
unfavourably affected his
household.

However, he endured several
setbacks in the name of his
country, standing strong on the
frontlines for empowerment
and a majority rule that he
doesn’t merely blabber about,
but one where—in some
instances— he paid a great
price.

My first encounter with this
journalist extraordinaire was in
2005. Upon reading his column

KRIS ALLEN

Saturday, April 17th

9:30PM

Grand Ballroom

Winner of American Idol
Season 8, Kris will entertain
guests with songs from his

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Saturday, May 29th
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Imperial Ballroom

Grammy-winner and
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Saturday, June 12th

8:50PM

Imperial Ballroom

Teen Pop/R&B sensation
Justin Bieber returns to the
Atlantis Live stage with songs
from his smash debut album,
such as ‘Baby’, One Time’
and “One Less Lonely Girl’.

FOR TICKET INFORMATION CALL 363-6601

ATLANTIS

PARADISE ISLAND:

YOUNG MAN’S VIEW

ADRIAN

one morning, I realised that he
had mentioned a letter I had
written to the editor of The Tri-
bune —long before I had writ-
ten the first column for the
same newspaper.

A young college student at
the time, I must have called
every friend and family mem-
ber—between New Providence,
Long Island and elsewhere—
whooping and hollering about
how Sir Arthur had mentioned
me. I still have the clipping of
that column to this day. Shortly
thereafter, Sir Arthur and I
made contact and he and his
lovely wife Lady Joan Foulkes
invited me to dinner. The rest is
history.

Over the years, Sir Arthur
has taken a paternal interest in
me, establishing clear expecta-
tions of me while at times serv-
ing as my chief adviser and
mentor, offering advice from
issues related to my studies or
work to giving relationship
advice.

T have been entranced by Sir
Arthur’s personal success sto-
ry, his recollection of his early
life on Inagua and the early
years of the PLP and our vivid
discussions about life in the
political trenches. When I began
writing this column, he would
at times chide me for what
should have been easily identi-
fiable grammatical errors, urged
that I never overly rely upon an
editor to spot my errors, advised
me on the best approach to
addressing subjects of stature
in my columns and has excited-
ly offered praise—whether he
shared my perspective or not.

All-in-all, he has been one
of my greatest supporters and a
most sincere critic whose advice
has always been welcomed.

The new Governor General
was at the vanguard when the
FNM began as a small break-
away troop from the PLP,
standing strong and walking tall

Ola & ON

when being an FNM wasn’t in-
style.

He fought for the FNM to
become a formidable opposi-
tion and, today, a credible gov-
ernment.

The groundwork for the
FNM was laid in 1970 when Sir
Arthur, and seven other mem-
bers of the famed Dissident
Eight—led by Sir Cecil Wal-
lace-Whitfield—left the then
governing PLP, essentially tak-
ing the brain trust of that party
to form the Free PLP.

These non-conformists main-
tained that they broke away
because of the PLP’s fiscal mis-
management, governmental
impropriety and the creation of
circumstances that they felt
would increase joblessness.

In 1971, the Free PLP and
the UBP unified to form the
Free National Movement,
which became the official oppo-
sition in 1972. Early on, all was
not glossy within the FNM as
the organisation was confronted
by the inter-party splits, infight-
ing and instability that is typi-
cally associated with new polit-
ical parties during their forma-
tive years.

Many Bahamians are
unaware of the fact that Sir
Arthur initially advanced the
idea of establishing a national
airline although the execution
of this plan was botched when
he left the PLP.

Sir Arthur is no political
benchwarmer and he has never
been mired in the odorous mess
and skullduggery that has
enshrouded so many of his
political peers.

I have greatly admired His
Excellency’s phenomenal work
ethic, humility and quiet ele-
gance. He has always been a lis-
tener—never one to ride in on
his high horse and lecture. Pos-
sessing at times a quite humor-
ous and down-to-earth persona,
he speaks his truth quietly and

STEP



SIR ARTHUR FOULKES



clearly and is the embodiment
of class and virtuous living. He
is an honest broker.

Today, although Sir Arthur
in his early 80s, after witness-
ing him strolling around Parlia-
ment Square during Wednes-
day’s ceremonies, a friend said
she had no choice but to
describe him as “perpetually,
one cool brother.”

Undoubtedly, Sir Arthur
would not mind if I note that
in numerous conversations
we’ve shared, he has expressed
his disaffection for the appar-
ent adoption of a culture where
there continues to be little to
no accountability in government
departments and a public ser-
vice that is bloated with idlers
and malcontents who have a
poor attitude and only seem
interested in being on the pay-
roll. His social outlook is not
only noble but has professed a
genuine love for our country
and a strong interest in its
youth.

Arthur Foulkes has shown
fortitude during the countless
hours of toiling in the struggle
and, this island boy, has risen
to the pinnacle of holding our
nation’s highest office. He
brings a broadminded, interna-
tionally-exposed perspective to
the office and no doubt will do a
sterling job.

Sir Arthur is a giant of our
times and is continuing to have
an impact on our nation’s his-
tory. lam beaming with pride.

Sir Arthur—my dear friend
and father-like mentor — con-
gratulations, Your Excellency!

Society of Trust & Estate Practitioners (Bahamas)

In conjunction with

The Bahamas Financial Services Board (BFSB)

Will present a one day

Trust & Estate Planning Immersion Seminar

Topic coverage:

Trust Fundamentals-Sean McWeeney QC, Graham, Thompson & Co.

Indemnities in Deeds of Retirement & Appointment-Heather Thompson, Higgs & Johnson

Update on Industry Proposed Amendments to the Trustee Act, 1998 and the Perpetuities Act,
1995 -David Brownbill, QC, 24 Old Buildings, London (joining by video conference)

Reputation and Brand Management-Kerry Harris, CrossCap, Ontario, Canada

Developments in Matrimonial Law in the Context of Trust and Estate Planning-Metta

McMillan-Hughes, Lennox Paton

Foundations and the proposed Bahamas Executive Entity: Alternative Estate Planning Tools-
Aliya Allen, Graham, Thompson & Co.

Time: 8:30 am to 4:00pm
Date: Tuesday, April 20, 2010

Venue: **SUPERCLUBS BREEZES**

Session price: $150.00 per person

RSVP by: Monday, April 19, 2010
To: BFSB Tel: 326-7001
Or info@bfsb-bahamas.com

* Response is required by deadline stated above as accommodations will be limited.

Disclaimer

The views and opinions expressed by presenters at STEP-sponsored events or in STEP-sponsored publications are not
necessarily the views and opinions of STEP, its officers, or any of its constituent members. In particular, the fact that STEP
may provide a forum for, or may otherwise facilitate the expression of, such views and opinions should not be interpreted to
mean or imply that STEP accepts, adopts, or encourages the acceptance or adoption of any of such views and opinions either

wholly or in part.

ms
Ss ITE P YA

J BAHAMAS
FINANCIAL

SERVICES BOARD

STEP BAHAMAS, Goodman's Bay Corporate Centre, Ist Fl., P.O. Box N-1764, Nassau, Bahamas
Tel: (242) 323-6612 * Fax: (242) 326-7007 * robyn@stepbahamas.org

ROR RR OK OK KK OK KOK



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8, FRIDAY, APRIL 16, 2010

LOCAL NEWS

THE TRIBUNE



FROM page one

from the Village Road City
Market parking lot to Barber
Street, a residential area off
Kemp Road.

However, DC Munroe has
since testified in court how Mr
Smith was in an ambush posi-
tion, concealed and ready to
attack with his back pressed

Brenton Smith

against the perpendicular wall,
and then “came at him” with
his arm raised, putting him in
fear for his life.

Mr Campbell said: “If this
person was in an ambush posi-
tion it would have been critical
to say that before.

“This is critical because this



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seems to be what triggered you
to believe that you were in dan-
ger and had to use lethal force.”

DC Munroe was responding
to an armed robbery at City
Market at around 8pm on July 9
when he parked his Fox Hill
division police car near the wall
and got out with his firearm
drawn.

The court heard how 44 sec-
onds later his partner DC Dar-
rington Sands called for an
ambulance from his handheld
radio reporting Mr Smith had
been shot.

DC Munroe maintains Mr
Smith fit a police description of
one of the robbers as he was
wearing a white T-shirt.

However he also admitted
the description was inconclu-
sive and that he was equally
likely to encounter a civilian
using the break in the wall as a
shortcut as he was an armed
robber.

The police officer with 11
years experience who received
firearms training in 2002 then
fired a single shot, and claims
he then fell back believing he
had been shot.

Mr Campbell said: “You
have the white T-shirt, which
you admit cannot say much
about who was the robber, so
why should that perturb you to
the point that you are so
unnerved; devastated to the
point where you thought that
you were shot?”

The coroner argued that the
version of events DC Munroe
presented in court was more
consistent with the testimony
submitted by Leshad Thomp-

—
r SMOKE AND STEAM

|| hangs over the volcano
under the Eyjafjallajokull
glacier in Iceland,
Wednesday April 14,
2010, which has erupted
for the second time in
less than a month, melt-
ing ice, shooting smoke
and steam into the air
and forcing hundreds of
people to flee rising
floodwaters. Volcanic
ash drifting across the
Atlantic forced the can-
cellation of flights in
Britain and disrupted air

|| traffic across northern

|_| Europe, stranding thou-

| | sands of passengers.

=| (AP)

son, who was with Mr Smith
when he was shot, and the
pathologist's report, than it is
with his own written statement,
which DC Munroe argued was
only a synopsis of the shooting.

The coroner said the inquest,
expected to draw to a close on
April 29, comes down to the
two versions of events submit-
ted by Mr Thompson and DC
Munroe, along with the pathol-
ogist and ballistics reports.

As the last witness to take
the stand since the inquest
opened in November, DC
Munroe has argued he believed
his life was in danger when he
shot the 18 year old, as he per-
ceived him to be one of the
armed robbers who had raided
City Market earlier.

As no suspects have yet been
apprehended for the armed rob-

FROM page one

bery he continues to argue that
Mr Smith may have raided the
supermarket despite seeing
video footage of the robbers,
and hearing statements from
several witnesses describing
them as having darker skin than
Mr Smith and wearing differ-
ent clothing.

There was no weapon or
stolen cash found on Mr Smith
or Mr Thompson after the
shooting.

Counsel for the Attorney
General’s office Cheryl Grant-
Bethel suggested DC Munroe
had fabricated his version of
events.

She said: “I’m suggesting
that the account you are giving
to this court is not truthful, and
that you shot the man at very
close range, into his arm
because he was flattened against

the wall, that material portions
of your evidence given here are
not included in your report
because it’s a recent fabrication
made up in direct response to
the evidence that you have
heard and that the purpose of
your lies is to justify the actions
that you took on the evening in
question when you rushed to
judgment and shot that young
man.

“The reason you have not
put the ambush position in your
report is because it is a recent
fabrication. I’m also suggesting
that the young man never came
at you on the evening in ques-
tion as you described.”

Counsel will present their
closing submissions on April 29,
anticipated to be the last day of
the inquest.

Former Minister

future generations of Bahamians who would have
claim to generation property.

“T think if the government is going to do any-
thing a study has to be done. I applaud looking for
a solution, but it has to go beyond the current
ancestors and think of the future. In addition, I
think the government should truly examine the
report of the Land’s Committee prepared by Fred
Mitchell and adopt the report as it was not fully
adopted before Parliament was prorogued,” he
said.

Serving as the Member of Parliament for Exuma
for a number of years, Mr Smith has intimate
knowledge of the issue of commonage and gener-
ation land, as there are more than five such com-
munities in that constituency.

“The properties that are generation land, com-
monage land, land in dispute, the land that belongs

with the passage of one bill. A major study ought
to be conducted as expeditiously as possible prior
to the passage of legislation.”

Mr Smith added that there needs to be some
“imaginative and innovative” approaches to deal
with the issue of commonage or generation prop-
erty. He pleaded with the government not to
attempt to use a band-aid approach in dealing with
something that can have “far reaching ramifica-
tions.”

“See it has to benefit the present and the future
generations of the property. You can’t disfran-
chise the future generations because that could
have some serious legal ramifications. I had thought
that the Select Committee on Crown Land would
spark a national debate on the matter of land and
how it is handled, but because the report was nev-
er adopted it died a natural death with the House,”

to the Crown, etc, all of these things have to be
examined. And I don’t know if this all will be done

he said.





YOUR CONNECTION#TO THE WORLD

PUBLIC NOTICE

TENDER FOR STRUCTURED
WIRING, POINCIANA DRIVE
TECHNICAL CENTER

The Bahamas Telecommunications Company Lid.
(BTC), is pleased to invite Tenders to provide struc-
tured wiring service for it’s Poinciana Drive Technical

Center.

Interested companies/firms may collect a Tender
Specification from the Security's Desk located in the
Administrative building on John F. Kennedy Drive, on
or before Tuesday, April 20th, 2010, between the
hours of 9:00 a.m. and 5:00 p.m.

The deadline for submission of tenders is on or before
5:00 pm Friday, April 23rd, 2010. Tenders should be
sealed and marked “Tender for Structured Wiring,
P/D”, and should be delivered to the attention of
“Mr. |. Kirk Griffin, Acting President and CEO.”

BIC reserves the right to reject any or all Tenders.

www.btcbahamas.com « www.facebook.com/mybtc
ee

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



FROM page one

don to Nassau flight and its
return flight to London at 9.40
tonight.

Exactly how long the air-
space restrictions in the UK
and elsewhere in Europe
will continue is unclear.

British National Air Traf-
fic Services cautioned at 8
o’clock UK time last night
that the “situation cannot
be said to be improving with
any certainty” as the ash
rapidly spread into large



Volcanic ash forces BA
Nassau flights cancellation

areas of northern Europe as
the Eyjafjallajokull volcano
itself continued to erupt.
As of 8 o’clock last night
British time, British Nation-
al Air Traffic Services was
advising that the cloud of

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ash “continues to cover
much of the UK.”

It has advised preliminar-
ily that UK airspace will
remain closed — with no
flights coming or going —
until lpm, or 7am Eastern
Standard Time, today at the
earliest.

Meanwhile, France and
Germany were last night
also considering shutting
down flights as the cloud of
ash spread further south
across Europe.

Thousands of passengers
have been left stranded
globally as they await flights
in and out of the affected
parts of the continent.

British National Air Traf-
fic Services said the vol-
canic ash represents a “sig-
nificant threat to air safe-
ty.”

A mixture of rock, sand
and glass, the tiny particles
of ash the cloud carries
from the volcano can jam
aircraft engines, potential-
ly causing them to fail.

A release from British
Airways advised that cus-
tomers booked to travel on
a cancelled BA flight can
claim a full refund or
rebook their flight for a lat-
er date.

It urged customers to
check their flight details on
the company’s website,
ba.com.

According to a source
with knowledge of Virgin
Airline’s operations, Virgin
Airlines was forced to can-
cel its London to Orlando
flight yesterday which was
due to bring a number of
Bahamas visitors with it,
while its London to Orlando
flight arrived as planned.

A small group of tourists
who had been visiting
Freeport left for Miami yes-
terday to catch a Virgin
flight back to the UK, but
have now been accommo-
dated by their holiday com-
pany in the U.S. after their
flight home was cancelled
due to the flight shutdown.

A message left for the
Ministry of Tourism was not
returned up to presstime.
THE TRIBUNE

Spo

FRIDAY, APRIL 16,

By RENALDO DORSETT
Tribune Sports Reporter
rdorsett@tribunemedia.net



ENTERING the Monte Carlo
Rolex Masters, Mark Knowles
expected the tournament to be the
first step in putting an injury-riddled
season behind him, however the set-
backs continued in Spain yesterday.

Mark Knowles and newfound
partner Bruno Soares of Brazil were
forced out of the second round of
the tournament as they suffered an
early exit via walkover.

The Bahamian-Brazilian duo fell
to French Wild Cards team of
Richard Gasquet and Jo-Wilfried
Tsonga.

In ATP tour events a walkover is
granted as an unopposed victory
when one opponent fails to start a
match for any reason, such as injury.

PAGE 9



2010

Forced out of
second round
via walkover

Gasquet and Tsonga will advance
to face the tournament’s top seeded
team, Knowles’ former partner,
Daniel Nestor of Canada and Nenad
Zimonjic of Serbia.

Nestor and Zimonjic defeated the
team of Jurgen Melzer of Austria
and Mikhail Youzhny of Russia (6-
3, 7-6).

Other doubles matches yesterday
included the second seeded Bryan
Brothers over Ross Hutchins and
Andy Murray of Great Britain (6-7,
6-2, 10-2); Simon Aspelin of Swe-
den and Paul Hanley of Australia



over Eric Butorac of the United
States and Michael Kohlmann of
Germany (5-7, 6-2, 10-6); Lukasz
Kubot of Poland and Oliver Marach
of Austria over Nicolas Almagro of
Spain and Ivan Ljubicic of Crotia
(6-4, 6-7, 10-4).

The injury bug has bitten Knowles
and his partnership on several occa-
sions early this season on the ATP
tour.

Knowles’ original partner on the
year, American Mardy Fish, suffered
a hip injury and will be forced out of
action until the Australian Open.

Knowles and Fish have played in
four tournaments on the year,
including the Medibank Interna-
tional, the Regions Morgan Keegan
Classic, the Sony Ericsson Open and
the U.S. Men's Clay Court Champi-
onships. Fish first sustained his hip
injury at the U.S. Men's Clay Court







Championships, earlier this month in
Houston, Texas.

The duo has experienced a num-
ber of setbacks during the season
due to injury.

Knowles missed the entire Aus-
tralian hard-court season on the
sidelines and re-aggravated a calf
injury in his return to the court in
Memphis.

After Fish’s injury just before the
main draw, Knowles was forced to |
search for a partner at the 11th hour
and was able to team with Soares, a
former semifinalist at the doubles
draw at the French Open.

When they were able to take the
court, Knowles and Fish were
ranked eighth on the tour's doubles
rankings.

They have reached a record of 3-
3, with their best finish, a semifinal
lost in Memphis on March 15th.





International Star Class Western Hemisphere Championships get started



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CANADIANS Richard
Clarke and Tyler Bjorn bat-
tled sustained 20-25 knot
winds in Montagu Harbour
to finish day one at the top of
the leader board in the Inter-
national Star Class Western
Hemisphere Championship
2010.

Sailing was postponed
Wednesday and delayed
Thursday by an hour due to
strong winds.

Clarke and Bjorn placed
second in the first of two
races and finished first in
race number two. American
Augie Diaz and his Brazil-
ian crewmate Bruno Prada
were first in race number
one, but an 8th place finish in
race number two set them
back into 4th place at the end
of day one.

Finishing second was the
team of George Szabo and
crew Mark Strube and third
was the team of Mark
Mendelblatt and John
von Schwarz.

The only Bahamians sail-
ing in this year's champi-
onships, brothers Mark and
William Holowesko, finished
day one in 17th position.

Sailing continues in Mon-
tagu Harbour on Friday and
Saturday.

The prestigious event is
being supported by the
Bahamas Ministry of
Tourism and the Nassau
branch of private banking
firm Lombard Odier Darier
Hentsch.

The Bahamas and the Nas-
sau Yacht Club last hosted
the Star Class Western
Hemisphere Championships
in 2005.











| gara Knights
| Rashad Morkley. He turned out to be

DUT

Knowles, Soares eliminated

STH

TCT
yo TW CTI



_ By ALPHEUS FINLAYSON

BAAA's Public Relations Officer



FORMER national record holder

_ in the high jump and Commonwealth

Games silver medallist Stephen Wray
went missing on a fishing trip last
December.

A Memorial Service will be held

_ this Friday morning, April 16th at

10:00am at Christ Church Cathedral,
George St.

Wray was the second Bahamian to
clear 7ft in the High Jump and the
first to do so on Bahamian soil. The
first was Winston Strachan, who
achieved this feat in Miami in 1978.
Wray achieved this milestone at St.
Augustine’s College in 1980. Later
that year he won the event in the
CAC Jr. Championships held in
August of 1980, clearing 7°3” in the
process.

Wray’s crowning glory came at the
Commonwealth Games two years lat-
er, 1982. in Brisbane, Australia when
he set another Bahamian record,

| jumping 7°7-1/4"(2.31m) for the Sil-

ver medal.
Troy Kemp broke Wray’s record in

| the late eighties.

Wray attended Government High
School and won a scholarship to
Southern [linois University. Wray
won the Silver medal at the Central
American and Caribbean Games in
Havana in 1982. He competed in the

| inaugural IAAF World Champi-

onships in Helsinki in 1983 and the
Olympic Games in Los Angeles in
1984.

The third Bahamian to clear 7ft was
Dennis Richards from Greencastle,
Eleuthera.

Wray worked at the Ministry of
Tourism for many years and was
responsible for the Student Spring
Break Program.

No Bull wins two
out of three games

By NICK BEDARD
Niagara News Staff Writer



The Bahamas are proving to Cana-
dian ballers that Bahamian basketball
is No Bull.

On April 5, the No. 1-ranked 17-
member Bahamian club team No Bull

| played a controlled scrimmage against
| nine players of the Niagara Knights

men’s basketball team as part of its
annual Canadian tour.

During the Knights three-
game scrimmage, No Bull won two
of three games played to 11.

| The Knights seemed to struggle

with the physical play of the Bahami-
an club team as they were forced

| to adjust to unusual contact.

On hand were the Niagara Knights
coaching staff as well as Ridley College
men’s basketball head coach Walt
Szpilewski.

“It’s a great thing for a team from
the Bahamas to come here and get the
possibility to showcase their skills to
various coaches and scouts,” says
Szpilewski.

“Ridley College has a long histo-
ry of having students from all over the
world, so we thrive on keeping that

| reputation.”

Ridley College recruit Geno Bullard
Jr. is a former player of No Bull. He

| | played as No Bull’s starting point

guard during the scrimmage.

Bullard Jr. says, “The
basketball transition was tough
because in the Bahamas there is a lot
of one on one. In Canada, basketball is
played with set offences and swinging
the ball around the perimeter to get
open.”

Various colleges throughout

| the province including Niagara Col-

lege allow No Bull an opportunity to
showcase their talent for
possible scholarship opportunities.
In 2009, that resulted the Nia-
recruiting

one of the top freshmen in the
Ontario Colleges Athletic Associa-
tion.

Morkley says it feels good “to see
and play” against his old teammates.

“T grew up playing with No Bull. I
miss the chemistry with that team, but
I like where I am now,” says Morkley.

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 10, FRIDAY, APRIL 16, 2010

SPORTS

Poor publicity marred CFO martial arts event

HE organisers of the
[| certian fight

Order should be
commended for their ini-
tial professional kickbox-
ing and boxing show
held on Sunday night at
the Kendal GL Isaacs

Gymnasium.

But as stated to former
journalist Denez Jones, the
chief operating officer at the
weigh-in on Friday at the Cor-
ner Motel Hotel, the show
lacked the publicity that could
have certainly generated a lot
more people in the arena.

Many people have never
seen a live kickboxing show
and because it was new terri-
tory that Jones and the other
organisers were venturing into
it, it was obvious that a little
more promotion could have
gone a long way in attracting
alot more people.

The fact is, the names of
such fighters as Ronald
‘Smokey’ Martin, Emmanuel
Reckley, James ‘the Dragon’
Walkine, Dewitt'DC' Pratt
and Justin 'Pyscho' Sawyer,
as not as popular as Meacher
‘Pain’ Major, who was fea-
tured in the main event in the

lone boxing match.

To add to it, radio person-
ality and entertainer Bodine
Johnson was another attrac-
tion to the sporting arena. But
nobody really knew who she
was fighting in the women's
exhibition until the 11th hour
when it was learnt that for-
mer distance runner Ashanti
Eneas was going to be her
opponent.

It was a story within itself as
Johnson has had no prior
sporting background and
Eneas was switching over
from one sport to the other.

The point is, there were so
many interesting aspects of
the show that would have
made a quite a point of inter-
est for the general public as
they geared up for the first
joint venture of the two sport-
ing organisations.

Pro boxing has certainly
suffered a blow with the
Bahamas Boxing Commission
clamping down on First Class
Promotions, who have been
in operation since May 30,
2009 when Jermaine 'Choo
Choo' Mackey stopped Emil-
iano Cayetano for the WBC
Caribbean Boxing Federa-
tion's CABOFE super mid-
dleweight title in the fourth

round of their scheduled 12-
round affair.

Meacher ‘Pain” Major has
since signed a contract with
X-Cel Worldwide Promo-
tions, based in Buffalo, New
York. So he was a welcome
addition as he made his return
to the local scene.

Not taking anything from
the organisers, the hard hit-
ting and thunderous kicking
show was certainly an exciting
one and J think Caribbean
Fight Order should be com-
mended. Like those in atten-
dance at the show on Sunday,
we're just looking forward to
their next show in the near
future.

ANGELS PREVAIL
AGAIN

Bommer George should be
in seventh heaven right now.

After watching his Bommer
G Swingers falter in the New
Providence Softball Associa-
tion, the die-hard sponsor
breathed a sigh of relief as he
celebrated with his Bommer
G Lady Angels on Tuesday
night at the DW Davis Gym-
nasium when they regained
the New Providence Wom-
en's Basketball Association
title.



BAMIF

Da OME

ISTERSATIONAL BANK LIMITED

INCOME STATEMENT

Year ended December 31, 20008

Interest! Income om cepts and loge

Ines epee on deposits and loan

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Approved By The Board:

JOAQUIM FILIPE DOS SANTOS

CARLOS DAVED DUARTE DE ALMEIDA Executive Diredtpr
ee

The Balance Sheet and the Auditor's Report were published

previously,

A complete set of the Financial atatements is available at
the Bank's office lecated at Centre o£ Commerce, 1

Suite 201, Massau,.



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The pictures during the
awards presentation after the
Lady Angels put a cap on the
best-of-five series with an
impressive 89-60 victory in
game four said it all. George
finally got to puff his cigar
and pop the champagne as
the Lady Angels and their
fans danced the night away.

There have been many
sponsors who have made their
contribution to the sporting
community. George and Sher-
man Johnson of the Johnson's
Lady Truckers are just two of
the latest who have impacted
the sporting associations, but
rarely ever look for any recog-
nition.

It's obvious that in order
for sports to survive in the
country today, the contribu-
tions of persons like Bom-
mer George and Sherman
Johnson will be vital.

What’s interesting to note
that both gentlemen are in
attendance at all of their
games and spend a lot of time
in each other’s company,
althought the bottomline is
they both want to win.

For the last four years, it
was Johnson who had the last
laugh as his Lady Truckers
stood tall as the NPWBA's
champions. This year, it's
George and his Lady Angels,
who are reigning supreme.

Next month, George's
sponsored Swingers are
expected to rebound from
their dismal season last year

when the NPSA season get
underway. Later this year,
Johnson's sponsored Lady
Truckers will be campaigning
in the New Providence Vol-
leyball Association. It will be
interesting to see if any of
them can achieve the success
that they both enjoyed in bas-
ketball.

SUPPORT FOR
SEA WOLF

While we reminisce on the
success and failure of two not-
ed sponsors, we want to pay
close attention to the medical
condition of veteran skipper
Sir Durward ‘Sea Wolf’
Knowles, who has made a
tremendous impact in all
aspects of sports in the coun-
try, either as a competitor,
mentor, coach, executive or
sponsor.

Known for his conquests on
the water as a seven-time
Olympian, who won both a
gold and silver medal in two
separate Olympic Games,
Knowles is resting in Doctor's
Hospital as he recuperates
from a near fatal traffic acci-
dent on Monday morning just
as he was preparing to go
back on the waters to com-
pete in one more race in the
warm up for the Internation-
al Star Class Western Hemi-
sphere Championship.

The 92-year-old Knowles,
who has made sufficient con-
tributions to society, is now





TRIBUNE SPORTS

in need of the public help as a
plea has gone out for blood
donation. There's no reason
why anybody who has bene-
fited from Knowles’ contri-
bution to sports and society
in general, should not rally
around and lend him their
support.

Best wishes to Knowles in
his recovery.

lorres/AP Photo

ALMERIA'S Michel Macedo of Brazil, left, controls the ball as Real Madrid Gonzalo Higuain of
Argentina, right, follows play during their Spanish La Liga soccer match at the Mediterraneo sta-
dium in Almeria, Spain, on Thursday, April 15, 2010.

Real Madrid
beat Almeria 2-1



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SOCCER
MADRID
Assocated Press

REAL Madrid's 2-1 win at
Almeria kept alive its hopes
of catching league leader
Barcelona in the Spanish
league on Thursday.

Elsewhere, Valencia boost-
ed its chances of securing a
Champions League berth next
season when it beat Athletic
Bilbao 2-0.

Barcelona has 83 points,
three more than second-placed
Real Madrid. Valencia was
third on 59 and Mallorca
fourth on 52. Another point
behind was Sevilla.

Madrid began the match in
combative form, pressing
Almeria's defense early. Strik-
er Rafael van der Vaart con-
nected powerfully with Alvaro
Arbeloa's pass to force goal-
keeper Diego Alves to save
with his feet in the fourth
minute.

Alves had to save a long-
range shot by Van der Vaart
four minutes later and then
parried a Cristiano Ronaldo
free kick in the ninth.

Slowly, Almeria began to
win more possession and in a
rapid attacking move up the
right flank which beat
Madrid's offside trap, Kalu
Uche made a precise cross into
the goalmouth where Albert
Crusat dispatched his fifth goal
of the season in the 14th.

Madrid goalkeeper Iker
Casillas had to save a free kick
taken by Domingo Cisma with
an athletic jump in the 22nd.

Ronaldo leveled with his
19th goal of the season with
moves including a trademark

bicycle shuffle over the ball
which wrong-footed Almeria
defender Michel Macedo in
the 27th minute.

Madrid midfielder Jose
Maria "“Guti" Gutierrez,
whom coach Manuel Pellegri-
ni started, hit the post and Van
der Vaart volleyed the
rebound just wide of the left
post on the half-hour mark.

Three minutes later Uche
avoided Madrid defender Ser-
gio Ramos and forced a goal-
line save from Casillas.

Madrid came close to scor-
ing in the 56th when Macedo
cleared Gonzalo Higuain's
shot off the goal-line. Alme-
ria counterattacked instantly
and Uche shot just over the
bar a minute later.

Van der Vaart scored
Madrid's second in the 68th
when he caught Alves going
the wrong way as he hit a pow-
erful shot from just inside the
area in the middle.

David Silva scored for
Valencia in the 35th minute,
capitalizing on a goalmouth
scramble after teammate
Alexis Ruano miskicked an
incoming corner.

A minute later Valencia's
Spain striker David Villa fell
heavily on his left shoulder
while challenging for a ball but
although in obvious pain he
later seemed to recover.

Silva's second goal came
after he controlled a precise
pass from Joaquin Sanchez,
subtly tapped the ball forward
and then hit a powerful left-
footed shot that beat Athletic
goalkeeper Gorka Iraizoz in
the 62nd.

Villa was substituted by
Alejandro Jimenez in the 79th
to fans’ applause in Mestalla
Stadium.

On Wednesday, it was:
Barcelona 3, Deportivo La
Coruna 0; Osasuna 2, Malaga
2; Xerez 2, Atletico Madrid 1;
Racing Santander 3, Espanyol
1; and Zaragoza 1, Mallorca
1.

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




PAGE 12, FRIDAY, APRIL 16, 2010

THE TRIBUNE
LOCAL NEWS



Hats fantastic!

Apparel turns heads at Opening of Parliament





THERE WERE MANY GLORIOUS HATS on display at Wednesday’s
Opening of Parliament in Nassau.

Senator Jacinta Higgs (above); Bernadette Christie, wife of PLP
Leader Perry Christie (at right of main picture); Senator Hope Strachan
(third picture from right); Lady Joan Foulkes, wife of Governor Gen-
eral Sir Arthur Foulkes (second picture from right); and Loretta But-
ler-Turner, Minister of State for Social Services (bottom right), were
among those attending the day’s events.

BIS Photos

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24 Wings

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FAMILY GUARDIAN (as

INSURANCE COMPANY LIMITED ===

strength iN

Necka Wells appointed Senic



Operations, at Family Guardian

Patricia Hermanns, President & CEO of Famil




has announced the appointment of Necke




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Mrs. Wells holds a Master's of Business Admi




degree from the University of Miami alo!

numerous insurance designations including t





which she achieved with distinction, the A

ACS in addition to a number of underwriting ar






examinations she has also completed with di




Family Guardian welcomes Mrs. Wells to th



Necka Wells, usa, FLMI
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NA TTBS NO tl te OC UT Ue ae tld TU EO CC SMe
THE TRIBUNE







HSE
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HTT



By NEIL HARTNELL
Tribune Business Editor

The former managing/gen-
eral partner for the New
South Ocean Development
yesterday pledged that he and
his company would attempt
to “vacate” the Arbitration
Tribunal decision that ousted
them, arguing that the deci-
sion was “fundamentally
flawed and will not survive
judicial review”.

Roger Stein, principal of
RHS Ventures, in a statement
e-mailed to Tribune Business,
said: “We are naturally dis-
appointed in the arbitrators’
decision, which we believe is
fundamentally flawed and will
not survive judicial review by
the New York courts. We
intend to seek to vacate the
decision, as well as to explore
every possible option to
establish the truth."

He was responding after an
International Arbitration Tri-
bunal panel comprehensive-
ly ruled in favour of the New
Providence resort develop-
ment’s financing partner,
Connecticut-based hedge
fund Plainfield Asset Man-
agement and its Seaside
Heights investment vehicle,
finding that they should
replace Mr Stein after shoot-
ing down all his arguments.

The tribunal ruling, a copy
of which has been seen by Tri-
bune Business, backed Plain-
field/Seaside Heights’ posi-
tion that it had invested $100
million into the southwestern
New Providence resort pro-
ject “even though there was
no progress on the develop-
ment - not a single shovel hit
the ground”. The tribunal
found that while just 3 per
cent of the South Ocean infra-
structure budget had been

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





isine

FRIDAY,



APRIL

TsO,



2010

SECTION B ¢ business@tribunemedia.net

‘Relative payments’
broke corruption law

* Claims payments by resort developer ‘for the benefit of relatives of

Bahamian government officials’ breached US Foreign Corrupt Practices Act

* Tribunal ruling on South Ocean dispute rejects notion that impressing Bahamian
government ‘can only be successfully done aboard $150,000 yachts’

* Claim $4m in tax saved by impressing officials with luxury is ‘shot down’

* Ruling finds former managing partner should not have removed $250,000 held in
escrow at Grimes law firm for Stamp Tax payments, and questions fate of $1.5m held
to buy-out South Ocean homeowners

By NEIL HARTNELL
Tribune Business Editor

Payments allegedly made
by a resort developer “for
the benefit of relatives of
Bahamian government offi-
cials” were claimed to have
breached US anti-corruption
laws, a ruling on the battle
for control of the project has
revealed.

The allegations were con-
tained in an International
Arbitration Tribunal ruling
on the battle for control of
the southwestern New Prov-
idence-based South Ocean
resort, which found that
Connecticut-based hedge
fund, Plainfield Asset Man-
agement, was fully within its

rights to remove Roger
Stein and his RHS Ventures
vehicle as the development’s
managing/general partner.
Referring to allegations
made by Plainfield Asset
Management against Mr
Stein and RHS Ventures,
the New York-based tri-
bunal found that payments
made to these Bahamian
“relatives” by the New
South Ocean Development
Company were among a
number of different payouts
that were “disguised” and

placed “into other cate-
gories” on the expenses
sheet.

“Payments made for the
benefit of relatives of
Bahamian government offi-

cials were similarly han-
dled,” the tribunal noted in
the footnotes to its main rul-
ing, a copy of which has
been obtained by Tribune
Business.

Plainfield also made a
series of other allegations
about expenses incurred pri-
or to the formalisation of its
partnership with Mr Stein in
2007, including “payments
made to or on behalf of rel-
atives of Bahamian govern-
mental officials in violation
of the Foreign Corrupt Prac-
tices Act”.

The Tribunal made no
findings on these allegations,

SEE page 7B

Aircraft could shave $8.64m



per year off airline’s costs

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

BOMBARDIER’S Q400
model could shave $8.64
million per year off
Bahamasair’s operating
costs, should the Govern-
ment decide to go with the
world’s third-ranked aircraft
manufacturer in restructur-
ing the national flag carri-
er’s fleet, company officials
said yesterday.

Bombardier flew one of
its Q400 Turboprops to Nas-
sau from Toronto yesterday
to give government and
Bahamasair officials the
opportunity to take a test
flight in a model that came
off the manufacturing line
only days before.

According to Bom-
bardier’s vice-president of
sales, Kevin Smith, the air-
craft, with its 360mph top
speed and 70-90 seat varia-
tions, could replace
Bahamasair’s less fuel effi-
cient Boeing 737 jets on the
airline’s Nassau to Miami
leg. According to him, the
Q400 burns three times’ less

SEE page 2B

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City Markets
like-for-likes
improve to
just 9% down



programme

publication

By NEIL HARTNELL

* But ‘big factor’ behind woes is 6-6.5% shrink levels,
over three times’ higher than global average and much
greater than 1% in other Caribbean states

* Supermarket chain ‘half-way there’ on direct import

* Company settles Securities Commission complaint
with $25,000 fine and pledge for 2009 audited financial

Tribune Business Editor



cent in February.

SEE page 3B



City Markets has continued to see improvement in
its same-store sales to the point where they are now
only 9 per cent down year-over-year, its chief execu-
tive told Tribune Business yesterday, as the 11-store
grocery chain moves to combat shrinkage levels that
are three times’ higher than the global average.

Derek Winford confirmed to this newspaper that
while sales from same-store space had been down
year-over-year by up to 18 per cent for the period to
December 31, 2009, City Markets had “continued on
that trend” that had seen this gap narrow to just 10 per

“It’s down to 9 per cent and getting even better,” Mr
Winford said for ‘period 10’ of City Markets’ 13-peri-
od fiscal year, encompassing most of March. He attrib-
uted this to “a number of changes, especially in the





$25m broker wind-up
reaches ‘pivotal point’

By NEIL HARTNELL
Tribune Business Editor

The court-supervised
winding-up of a Bahamas-
based broker/dealer that col-
lapsed with a $25 million
black hole has reached “a
pivotal point”, its liquidator
revealing that he is likely to
seck an Order allowing him
to retain a further 2.5 per
cent of client assets - rough-
ly $1.675 million - to meet
the liquidation’s costs.

SEE page 8B

A DIVISION OF

* Caledonia liquidator
to seek court order to
use further 2.5% of
client assets, some
$1.675m, to fund
liquidation

* Many clients said to be
unhappy over extra costs
* Set to ask Court to
force broker’s former
management and
technology consultants
to ‘explain their actions’
and help clients recover
lost assets

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PAGE 2B, FRIDAY, APRIL 16, 2010

THE TRIBUNE



New fleet required to cut flag carrier’s losses

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE Minister responsible
for Bahamasair said yester-
day that the airline will
require a new fleet of air-
craft as a long-term cost cut-
ting solution for a company
that has cost the Govern-
ment almost $500 million
since its 1973 inception.

Neko Grant said revamp-
ing Bahamasair’s ageing
fleet was one possible solu-
tion to easing the taxpayer
burden of financing an air-
line that has never proven
to be profitable, costing up

During a showing of third-
seeded aircraft manufactur-
er, Bombardier’s, Q400,
which Bahamasair is con-
sidering taking receipt of, its
chairman J. Barrie Farring-
ton, echoed the need to
renew the fleet.

“The useful life of the jets
will expire and we will need
to be in a position to have an
alternative,” Mr Farrington
said.

“So there will have to be a
period of transition from the
fleet composition today to
the one that hopefully we
will be able to have in effect.

“We are looking for
greater flexibility, we need

to $25 million per annum. to be able to be more effi-

cient and cost effective to
reduce the operating losses
of Bahamasair.

“It has been an enormous
drain on the public purse
and the tax payers should
be given relief. Therefore, it
is our hope and vision to be
able to transform Bahama-
sair.”

Replacement

Mr Grant said Bahama-
sair had seriously looked at
the Bombardier Q400 as a
replacement to renew its
fleet, as the aircraft would
be able to replace the air-
line’s Miami route, which is

often serviced by a Boeing
737 jet aircraft.

The Turboprop aircraft
with dual Pratt and Whitney
PW150A engines can make
near the same time to South
Florida as the 737, but is
much more fuel efficient.

“We have looked at the
Bombardier Q400 as a
replacement, as we seek to
renew our fleet," said Mr
Grant.

He added that the age of
the Bahamasair fleet keeps
operating costs high on the
maintenance side and keeps
fuels costs high, as the older
airplanes are not as fuel effi-
cient as the newer models.

According to him, discus-

Aircraft could shave $8.64m
per year off airline’s costs

COMMONWEALTH OF THE BAUSLAS ant
IN THE SUPREME COLBT CLE pnt Be. 108)
Cenmon Law & hqaity Dera
BETWEEN
TS THE MOAT TER of Whe Chuetang of Tikes Act, 1959
AMT
IN THE MATTER of Lit 4 Bleck 1 on Kool Acres
Subdivision situa: in the Easem District of the ieland of
New Providence: one of the Idands of the Commonuealih
of The: Haharess
ANTI
ON THE MATTER of the Pettion of AMBERT (0M
OTICE
THE PETITION of Robert fox an respect of

“ALL THAT pacer parcel if ket ef bed dora act Looe 4

Bleck 0 in Koon) Acres Subdividon in the Fame Diener af



the Ishi of New Prwidence one of the Usheds of the
Commcnvvcalih of The Tahwmas sad hounded on rhe
NORTH bi Lot No. 5 in the said Sebdiewion and Pantene
tesco’ Che Hotdnad and Varo: aad bighy-peae brendtedite
(WES) boat om eae WEST br La Ma Soin thre ead
Sahdeimon and canreng theron One Humdred ond Pour
Hunted and Faghry-one bundredihs (104.81) feet on the
SOUTH by a Mobb Head known ao FERNBURY
AVENUE sad runeing thereon Sevenny-[re (73,00) beet to
& poier and coanming moan ar Twenty and Sevenry-ine
Hondredits (2a. feer on the EAST by a Thar (MN fen
wike mad peservanice and PUfeL ig Coctecel Eigthary ine and

Eighty hutdrediha (20.60) fee, rare particularly shown ard



ded ia the Deparmenr of Land

4

ddigsined oi a Pa

afal Survers a3 TAS 43
Rober Coo chums to be the owner of the unencombered fre soph: emie in posseuion of
the sod Lond ond bes ode apphotce tote Supreme Court of the Commameeaith of The
Paha eri unde: Sectana Theor) of rhe CQobedng Votles Ace, 1959 00 have bas ride ro the said
lined invesigated and dhe natere and exter thereof determuned and declared in a Certficae

of Tithe to be granted bp the Court in aacondaace with the promeaicen of the wad Act

Copuet of the: Petition and the Phin of the sand bind may be inspected dunng nosrel affine
hours an the fnlivaang planes
1, The Rogistre of the Sepeeme Court, Exat Saree Morih in the ‘City of Masnain,
Techamnas; and
2 The Chambers of Lockhart & Go, #15 Bem Retro Bowl, off Shidkey Seon,
Marisa, Bahasnic.
NOTICE os beselyy given that ade permet having doer ot yeah to divert of at Advent
(Chins oe a claim ast resngmzed in che: Petiion stall oa.or eines the expiranoa of Thirty
(3) days ales the: Ena) publican of these pocsetts, Mle ix the Supeente Court and serve on
the Peanioner of the undersigned a Seaternent of bes clacre oni the prescobed form verted bry
an affidevt tobe filed cheneech
Failure: of any sock pecson ie: file amd serve a Stuement of bes Chom om. or betose the
expantioa of Tharty 0) dave after dhe Gal publicacion of these present: will operate ai.
bie ta wach chim.

Dated the: yu day of Febouary, ALD. 20L0

LOCKHART & CO.
(Chambers

#55 Damen Reta Riad
all Starkey Steen
Magan, The Tuharas

Ationmveps Go the Peationer



FROM page 1B

fuel than the 737.
Bombardier’s crew sought
yesterday to convince the
Government and Bahama-
sair officials that the Q400
would be the best refleeting
solution for the airline, argu-
ing that it was more envi-
ronmentally friendly and can
service all current routes
with better fuel economy
than the current aircraft.
“The Q400 NextGen air-
craft’s operational flexibility,
low-cost operation, reduced
environmental impact and
passenger comfort are ide-
ally suited to the needs of
the people of the Bahamas
and the neighbouring
region,” said Mr Smith.
According to Bombardier
marketing manager for the
Caribbean region, Kevin
Clarke, Bahamasair could
save $720,000 per month in
operating costs if it renewed
its fleet using the Q400.
He intimated that the
plane’s range could also

as far as Cancun, Mexico.

Bahamasair’s chairman, J.
Barrie Farrington, said the
airline had been looking at
several other manufactur-
ers in order to source the
best one to refleet the com-
pany.

According to him, they
hope to have chosen a com-
pany by summer, and the
Bahamas could possibly see
a new fleet of aircraft as ear-
ly as 2012.

“In our development plan,
we have looked with our
consultants at what it would
require to acquire the kind
of aircraft we would need.
That final decision hasn’t
been made, and we know
what the schedule would be
in order to take currently
operating planes out of ser-
vice and introduce new
planes,” he said.

“Our window of opportu-
nity is that this has to be fin-
ished by early 2012.

“Having Bombardier here
means that we have been
looking seriously at using



sions are ongoing within
government as to how best
to solve the airline’s debt
woes, but for now those dis-
cussions remain at the table
while numbers are being
“crunched”.

“Tt is an exercise (refleet-
ing Bahamasair) we are con-
sidering at the Cabinet lev-
el,” said Mr Grant.

Mr Farrington went as far
as to say a plan has been
developed but has not yet
been approved, while Mr
Grant said other initiatives

“It has been an
enormous drain on
the public purse and
the tax payers
should be given
relief. Therefore, it
is our hope and
vision to be able to
transform Bahama-
sair.”

tively writing-off more than

are being mulled that he

could not discuss publicly.
The Government has

moved to clean up Bahama-

$40 million that the flag car-
rier owed to it and other
public sector agencies,

potentially open new routes their aircraft.

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.

NOTICE

NOTICE is hereby given that EDLINE DECIUS of Mackey
Street, Nassau, Bahamas is applying to the Minister
responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/
naturalization should not be granted, should send a
written and signed statement of the facts within twenty-
eight days from the 16 day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.















HALSBURY
CHAMBERS

Counsel-and-Attorneys-at-Law

Employment Opportunity

Established Law Firm is seeking to employ
an attorney who specializes in litigious work,
personal injury, family law and probate with
a minimum of five (5) years practical and
professional experience.

Applicants should be organized, diligent, a
team player and have the ability to work with
minimum supervision.

Successful applicants will be eligible to
participate in the company’s medical insurance
plan, pension plan and profit-sharing scheme.
Salary will commensurate with experience.

All applicants will be held in the strictest confidence
their

Interested should deliver

applications
curriculum vitae to our office situate on Village
Road North, or mail at P.O. Box CR-56766,
Suite 548, Nassau, The Bahamas.



including almost $15 million
in ticket taxes.

Ousted developer
seeks to ‘vacate’

sair’s balance sheet by effec-

TT ETUC

FROM page 1B



spent, some 29 per cent of the travel and expenses budget had
been used.

While Mr Stein and RHS Ventures had alleged that they
were fraudulently induced into entering a partnership agree-
ment with Plainfield/Seaside to develop South Ocean, they
and their affiliates holding 49 per cent, the ruling completely
rejected this assertion.

“Mr Stein’s assertion that Seaside Heights committed to
‘find or fund’ the proceeds for the entire project, including
vertical construction estimated at a cost of $857 million ($235
million for the infrastructure phase, plus the $622 million pro-
jected for vertical construction) was contradicted by his own
statements and by his own testimony during the course of the
proceeding,” the Tribunal found.

Plainfield/Seaside had no obligation to fund the South Ocean
project beyond their initial $42.7 million equity contribution, the
Tribunal found, also rejecting the RHS Ventures allegation that
Plainfield “targeted Mr Stein and his companies as presenting
an opportunity to steal his investment from him..... Claimants
contend that Seaside Heights and Plainfield, from the very
beginning, wanted full control of Mr Stein’s $41 million equity
in the project”.

Such a claim was not supported by the evidence, the Tribunal
found, pointing out that Plainfield/Seaside’s $57 million loan to
the South Ocean development was ranked behind the $85 mil-
lion mortgage debentures that the Canadian Commercial
Workers Industry Pension Plan (CCWIPP) held on the project’s
real estate.

“Not surprisingly, nowhere do [Mr Stein and RHS Ven-
tures] point to a vulture fund that first makes a substantial
equity investment, here a $43 million equity investment by
Seaside Heights, and then lends another significant sum, which
is subordinated to other massive debt, here a $57 million Sea-
side Heights’ loan junior to [CCWIPP’s] $85 million debt,”
the ruling found.

“The investments and loans that Seaside Heights made
demonstrate a long-term commitment and intention to support
the project in order to benefit in its long-term success. Such
investments and loans cannot form a vulture fund strategy, as
they leave such a fund completely vulnerable to the senior
debt.”

In addition, the value of the 383-acre South Ocean real
estate was unlikely to exceed the amount of CCWIPP’s mort-
gage debt in value, with the latter having had the site appraised
at a cost much lower than $85 million.

“Thus, because of its commitment to the project, Seaside
Heights stands to lose its entire $100 million investment, a
result that demonstrates precisely why this is not the way vul-
ture funds play.”

And in a summary of the background that led Seaside
Heights/Plainfield to remove RHS Ventures as the general
partner, the Tribunal said: “Having infused New South Ocean
Development Company with over approximately $100 million
in a matter of months, having seen very little progress on the
project, seeing no prospect for long-term financing arrange-
ments on the horizon, knowing a $7.5 million principal payment
was due to [CCWIPP] to avoid a default at the end of August
2008, and that two additional $7.5 million principal payments
would be due to [CCWIPP] soon thereafter to avoid foreclo-
sure, and that the golf course and other operations required con-
tinued funding of hundreds of thousands of dollars, the Seaside
Heights team held a series of meeting in the summer of 2008 to
discuss how to proceed.”

This led to another bridging loan payment being made to
CCWIPP in August 2008 to avoid foreclosure, and an injection
of “short-term working capital” into New South Ocean Devel-
opment Company.

NOTICE

NOTICE is hereby given that JOANEL PETIT-BEAU
of Marsh Harbour, Abaco, 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 16" day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.

NOTICE is hereby given that ALBERT JOSEPH of
ALLEN DRIVE, P.O. BOX CB-12627, 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 16" day of April, 2010 to the Minister
responsible for nationality and Citizenship, PO. Box
N-7147, Nassau, Bahamas.



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

FRIDAY, APRIL 16, 2010, PAGE 3B



Twitter: Four years old and still growing

BY CLAIRE CAIN MILLER
c.2010 New York Times
News Service@

Twitter's first developer
conference, held this week
in San Francisco, served as a
coming-out party for the 4-
year-old service.

Twitter the startup is
becoming Twitter the big
company, with more polish,
controversy, competition
and revenue.

At the conference, called
Chirp, Twitter announced
several new features that
will make it more useful,
including geo-location ser-
vices, a database of places
and additional metadata for
posts.

It also offered details
about (AT)anywhere, a new
service that lets people gain
access to Twitter from else-
where on the Web.

These new features could
expand Twitter's reach, but
it also pits the company
against other popular Web
companies, including Face-
book and Foursquare.

"They've gone from a
data play to a platform
play," said Jeremiah
Owyang, a partner at
Altimeter Group, a digital
strategy consulting firm.
"You're seeing the same
behavior that Facebook,
Google and other online
communities have done.
This is a natural evolution
of a Web company."

As evidence of its growth,
Twitter revealed some pre-
viously undisclosed num-
bers.

It has 106 million regis-
tered users and is adding
new users at the rate of
300,000 a day. Those cus-
tomers write 55 million dai-
ly posts, and 180 million
people log on _ to
Twitter.com each month to
read them.

Despite the growth, Twit-
ter has a pressing need to
make the service easier to
understand for new users,
said Evan Williams, its chief
executive. "It's amazing it's
grown so fast given how
hard it is to use."

One of the new features
Twitter announced is called
points of interest.

People on Twitter have
been able to include their
general location. But now
they will be able to reveal
exactly where they are. Peo-
ple will be able to search for
a certain location, like a con-
cert hall or hotel, and see all
the posts written from that
spot.

This is similar to the
check-ins on Foursquare,
Gowalla and other services
that people use to share
their location. Williams said
that Twitter was not trying
to duplicate those services
but rather provide Twitter
users with more relevant
content.

"Where you are defines
what you're interested in,"
he said.

Twitter and its developers
will build a database of
places — parks, restaurants,
hospitals and the like —
across the world so people
can refer to them in posts.

Another new tool is called

annotations. Already, indi-
vidual posts show which app
someone used to write the
post and the date, time and
(if users choose to make it
public) location. With anno-
tations, software developers
will be able to add other
material, which Twitter calls
metadata, to Twitter posts.

This could significantly
expand the amount of infor-
mation a post includes,
beyond its 140 characters,
and could enhance the way
Twitter is used.

Posts could include the
name of the restaurant
where a post was written
and its star rating on Yelp,
for instance. Then, someone
could find Twitter posts
about restaurants nearby
with five stars. Or develop-
ers could add a way to make
a payment and purchase, so
retailers could sell items
from within a post.

Twitter does not know
what developers will decide
to do with the tool, said
Ryan Sarver, who manages
the Twitter platform. "The

City Markets like-for-likes improve to just 9% down

FROM page 1B

area of customer service”,
with staff, including cashiers,
interacting with shoppers
much more and ensuring all
their grocery needs were
met.

While City Markets,
which suffered a $6.069 mil-
lion net loss for its last com-
pleted financial year to June
24, 2009, is still some way
from regaining profitability,
Mr Winford said “a really
big factor” impacting its per-
formance - especially in a
down economy - was the rel-
atively high level of shrink-
age (losses due to stealing,
broken and sour produce) it
was suffering.

“Globally, shrinkage is at
2 per cent, and in the
Bahamas it’s 6-6.5 per cent
[of sales],” Mr Winford told
Tribune Business. “When
shrinkage reaches 2 per cent,
that’s a big red flag and the
buttons go off everywhere.

“This is not a City Mar-
kets problem; all Bahamian
retailers are affected. We’ve
measured it very carefully,
because all the Neal &





Massey systems are in place.
In an economy like this, it
creates a problem.”

While support from the
Trinidadian conglomerate
that has control at City Mar-
kets’ majority shareholder,
BSL Holdings, has proven
welcome, Mr Winford said
that in other Caribbean
retail markets in which he
has worked, shrinkage has
been as low as 1 per cent -
placing the Bahamas near
the top, some five to six
times’ worse.

He added that when
Bahamas Supermarkets was
majority-owned by Florida
grocery chain Winn-Dixie,
shrinkage levels were
thought to be even higher
at just under 7 per cent, but
“they were able to cover it
up because sales were high-
er”.

Still, Mr Winford told Tri-
bune Business that Bahamas
Supermarkets’ 700-strong
workforce was “on board”
with management plans and
strategy, adding: “The
employees are full of life
and bringing life to our cus-

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.

NOTICE

NOTICE is hereby given that TONY LOUIS of
CARMICHAEL ROAD, P.O. BOX CB-12627, 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 16'* day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that JUNATA ANEE of P.O.
Box AB - 20554, Marsh Harbour, Abaco, 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 16" day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL
The Public is hereby advised that |, BERNADETTE
TANYA MCPHEE of Silver Gates, Subdivision in the
Western District of the Island of New Providence,
intend to change my name to BERNADETTE TANYA
BURROWS. If there are any objections to this change of
name by Deed Poll, you may write such objections to the
Chief Passport Officer, PO.Box N-742, Nassau, Bahamas
no later than thirty (30) days after the date of publication
of this notice.

tomers.”

City Markets’ direct
import programme would
be “balanced very careful-
ly” with the company’s rela-
tionships with Bahamas-
based suppliers, Mr Winford
telling this newspaper that
the company was “maybe
half-way there with every-
thing” relating to this initia-
tive. “That is one of the
areas where we can pass sav-
ings on to our customers and
improve margins,” he
added. “It works for both
customers and sharehold-
ers.”

Asked when City Markets
would regain profitability,
Mr Winford said: “I wish it
were yesterday. I don’t have
a crystal ball, but we’re
doing everything we can.”

Mr Winford also told this
newspaper that it had been
“very important” for the
supermarket chain and its
parent, Bahamas Supermar-
kets, to settle for $25,000 a
formal complaint filed
against it by capital markets
regulator, the Securities
Commission of the
Bahamas, over the late filing
of its audited financial state-
ments for the 2008 and 2009
fiscal years. The regulator
had alleged that Bahamas
Supermarkets had breached
Section 65 of the Securities
Industry Act by failing to
file its certified annual
results in a timely manner,
with the audited statements
for fiscal 2008 only submit-
ted on October 27, 2009,
some 16 months after the
year-end.

While not “admitting or
denying” the allegations, as
part of the settlement agree-
ment Bahamas Supermar-

kets agreed to pay a $15,000
fine over the complaint, with
a further $10,000 payable as
a result of failing to produce
its 2009 audited financial
statements.

Bahamas Supermarkets
also agreed to publish the
2009 audited financial state-
ments “on or before May 31,
2010”, and submit to the
Securities Commission and
publish its quarterly man-
agement accounts on its
website within 30 days of
period end. Hillary
Deveaux, the Securities
Commission’s executive
director, said: “This matter
had presented the Commis-
sion with various challenges
in exercising its disciplinary
authority. However, many
valuable lessons have been
learnt in this exercise, which
can only enhance the Com-
mission’s execution of its
disciplinary responsibilities
in the future.”

Exactly what the “valu-
able lessons” are was not
divulged, and many minori-
ty shareholders are likely to
consider the $25,000 collec-
tive fine nothing more than
a ‘slap on the wrist’ for
Bahamas Supermarkets. Yet
it was key for the company
to bring this chapter in its
life to a close.

Still, Basil Sands,
Bahamas Supermarkets’
chairman, told Tribune
Business: “It’s very impor-
tant that we’re not dealing
now with any matters with
the regulators.

“We're trying to address
questions of increasing sales
and satisfying customers,
getting more customers in
and trying to generate prof-
its.”

ROYAL = FIDELI

Money 2: Woek

underlying idea is think big,
push yourself."

Dick Costolo, Twitter's
chief operating officer, gave
details about (AT)any-
where, which was first
announced at the South by
Southwest conference. (Ini-
tial partners include more
than a dozen news sites,
including The New York
Times Co.) Similar to Face-
book Connect, (AT)any-
where will allow people to
log in to Twitter from other
Web sites.

When visiting a magazine
Web site, for instance, a user
could sign in to Twitter, hov-
er the cursor over a writer's
byline and follow the writer
on Twitter or write a post
without leaving the page.
The magazine could also
suggest other writers that
the reader should follow on
Twitter.

Twitter also said it would
incorporate more outside
services — including an
Android app and a link
shortener — into its own
service, either by acquiring

startups or building its own
tools.

This added to the unease
that many software devel-
opers have felt since last
week, when Twitter
announced its own iPhone
and BlackBerry apps.
Developers who make these
types of apps worry that
Twitter could put them out
of business.

Twitter tried to reassure
developers, by emphasizing
how crucial they have been
to Twitter's success.

Developers have built
more than 100,000 Twitter
apps, and 75 percent of
Twitter's traffic comes from
people using these apps
instead of Twitter.com.

INSIGHT

For the stories

behind the news,
read Insight
on Mondays



NOTICE

ACQUA SMERALDA LIMITED

N OTIC EIS HEREBY GIVEN as follows:

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

(b) The dissolution of the said company commenced
on the 3rd March, 2010 when the Articles of Dissolution
were submitted to and registered by the Registrar

General.

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

Bahamas

Limited, The Bahamas

Dated this 9th day of March, A. D. 2010



CST Administration (Bahamas) Limited
Liquidator



NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.46 of 2000)

MINING EQUIP & SPARES LTD.
IBC N° 100599B

(In Voluntary Liquidation)
NOTICE is hereby given in accordance with Section 131 (2)(a) of

the International Business Companies Act, No. 46 of 2000, MIN-
ING EQUIP & SPARES LTD. is in Dissolution.

Any person having a Claim against the above-named Company is
required on or before 9th May 2010 to send their name, address and
particulars of the debt or claim to the Liquidator of the Company,
or in default thereof they may be excluded from the benefit of any

distribution made before such claim is approved

Mr. Marinos Peslikas of Photos Arestis & Co. Harmonia Building
3rd and 4th floor 12 Chrysanthou Mylona Street CY-3030 Limas-
sol Cyrus is the Liquidator of MINING EQUIP & SPARES LTD.



FG CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

TY

BISX LISTED & TRADED SECURITIES AS OF:

THURSDAY,

15 APRIL 2010

BISX ALL SHARE INDEX: CLOSE 1,557.61 | CHG -0.53 | %CHG -0.03 | YTD -7.77 | YTD % -0.50

FINDEX: CLOSE 000.00 |

YTD 00.00% | 2009 -12.31%

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

52wk-Low

Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings

Commonwealth Bank ($1)
Consolidated Water BDRs

Doctor's Hospital
Famguard
Finco

FirstCaribbean Bank

Focol (S)

Focol Class B Preference
Freeport Concrete

ICD Utilities
J. S. Johnson

Premier Real Estate
BISX LISTED DEBT SECURITIES -

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

1000.00
1000.00
1000.00
1000.00

52wk-Low

RND Holdings

ABDAB
RND Holdings

Fund Name

1.3664
2.8266
1.4467
2.9343
12.6816
100.5606
96.4070
1.0000

CFAL Bond Fund

1.0000
1.0000
9.1005

Securit y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas

Symbol
Bahamas Supermarkets
Caribbean Crossings (Pref)

CFAL MSI Preferred Fund
CFAL Money Market Fund

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

CFAL Global Equity Fund

FG Financial Preferred Income Fund
FG Financial Growth Fund

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund

7.02

10.63

5.30

0.53

3.15

2.37

12.20

2.72

6.00

2.94

2.54

6.07

9.08

10.43

5.00

1.00

0.27

5.59

9.95

10.00

Symbol Last
FBB17
FBB22
FBB13
FBB15

Previous Close Today's Close

(Bonds trade on a Percentage Pricing b

Change Daily Vol.
0.00
0.00

-0.07
0.00
0.00
0.00
0.00
0.00
0.00
0.03
0.00
0.00

1.02
10.63
5.23
0.53
3.15
2.37
12.20
2.72
6.00
2.97
2.54
6.07
9.08
10.43
5.00

0.00
0.00
0.00
0.00
0.00
0.00

1.00
0.27
5.59
9.95
10.00

0.00
0.00

250

Sale
100.00
100.00
100.00
100.00

Change
0.00
0.00
0.00
0.00

Daily Vol.

RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)

Bid &
10.06
2.00
0.35

Ask & Last Price

Daily Yak.
11.06 74.00
4.00

0.55

6.25
0.40

CFAL Securities Ltd. (Over-The-Counter Securities)

30.13

0.45
BISX Listed

NAV

1.4525
2.9116
1.5254
3.2025
13.4986
107.5706
101.7254
1.1034
1.0764
1.1041
9.5795

Principal Protected TIGRS, Series 1

10.0000

Royal Fidelity Bah Int'l Investment Fund

11.2361

Principal Protected TIGRS, Series 2

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

P/E - Closing price divided by the last 12 month earnings

KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007

Royal Fidelity Intl Fund - Equities Sub Fund

7.6928

YTD%

31.59

0.55
Mutual Funds

0.55

NAV 3MTH
1.419947
2.855227
1.504794

Last 12 Months %
6.30
0.19
5.14
-3.54
5.44

0.96
0.85
1.19
2.F 3S
0.98
3.45
5.52
1.25
0.79
1.23
5.33

6.97
BAe
Ssh
4.37
5.34
5.33

103.095570
99.417680

12.36 12.36

-0.31 47.51

MARKET TERMS

YIELD

- last 12 month dividends divided by closing price

EPS $

Div $
0.283
0.992
0.598

-0.877

0.168
0.055
1.406
0.249
0.419
0.111

0.627

-0.003

T%

Prime + 1.75%

T%

Prime + 1.75%

EPS $
-2.945

0.168
0.678
0.366
0.000
0.035
0.407
0.952
0.156

ases)

Interest

19 October 2017

19 October 2022
30 May 2013
29 May 2015

DivS
0.000
0.480
0.000

P/E
N/M
N/M

256.6

0.000
0.001

4.540
0.002

0.000
0.000

9.03
261.90

NAV 6MTH
1.403783
2.898993
1.489232

NAV Date

28-Feb-10
9-Apr-10
31-Jan-00
31-Mar-10
31-Mar-10
31-Dec-09
31-Mar-10
31-Mar-10
31-Mar-10
31-Dec-09

101.669300
96.739830

31-Dec-09

31-Dec-09

Pp
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

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

FRIDAY, APRIL 16, 2010, PAGE 7B



‘Relative payments’
broke corruption law

FROM page 1B

being concerned with other issues,
and the “relatives” were not identi-
fied by name. It is unclear whether
they are related to politicians or civ-
il servants, and if these alleged pay-
ments took place under the current
FNM administration or former PLP
government.

Yet given that Plainfield and its
Seaside Heights investment vehicle
only formalised their partnership
with Mr Stein to develop the South
Ocean project in August 2007, it
appears more likely that the alleged
payments - if they occurred at all -
were made when the former Christie
government was in office.

The Tribunal ruling also painted a
somewhat unflattering picture of
what foreign investors believe it
takes to win Bahamian government
approval for their projects, the thrust
of its content being that some feel
extravagant spending and ‘flashing
the cash’ is what it takes.

Responding to Plainfield’s allega-
tions that the New South Ocean
development was “charged hun-
dreds of thousands of dollars to sup-
port Mr Stein’s extravagant
lifestyle”, he and RHS Ventures
defended their spending by “stating
that such expenditures were neces-
sary to impress the Bahamian

authorities, with whom they were
negotiating, with their gravitas and
commitment to the project”.

With mild understatement, the
ruling found: “The Tribunal rejects
this suggestion that business can
only be successfully done aboard
$150,000 yachts.

“Mr Peter Venison, who had
developed the Atlantis hotel pro-
ject, a very large and successful
resort project in the Bahamas, work-
ing with the same individual as
prime minister now [Hubert Ingra-
ham] as a decade earlier, conducted
all of his meetings in the Prime Min-
ister’s Office and stayed at a hotel.

“It was his view that it would be
counterproductive to have meetings
with government personnel in
extravagant quarters, as it would
make the officials think that you
were ‘wasting money rather than
conserving it for the real purpose’.”

Then, Mr Stein and RHS Ven-
tures alleged that “by impressing
the governmental authorities with
the luxurious premises in which they
were received, a tax saving of $4
million was achieved”.

This claim, though, was quickly
shot down by the Tribunal. “Mr
Stein conceded at the hearing that
the tax saving was the result of capa-
ble work by Bahamian lawyers.

“In any case, it strains credulity
that entertaining on a yacht rather

than meeting in an office would
result in a governmental represen-
tative foregoing a $4 million tax col-
lection,” it found.

Elsewhere, Mr Stein was criticised
for allegedly transferring $250,000
held in escrow at the Bahamian law
firm of Valentine Grimes, which had
been earmarked to pay Stamp Tax
on land acquired at South Ocean,
to his own bank account in March
2008.

Transfer

This transfer, the Tribunal found,
was not disclosed to Plainfield/Sea-
side Heights, and caused the hedge
fund to pay the full Stamp Tax
amount from its own pocket instead.
There is nothing to suggest Mr
Grimes or his law firm did anything
wrong.

“Mr Stein attempted to explain
that this transfer of the $250,000
escrowed sum was proper because
he had transferred a similar sum of
$235,000 to the same law firm before
the formation of the partnership,
arguing that accordingly these were
monies for which he should be reim-
bursed,” the Tribunal recalled.

“However, the schedule showing
the substantiation for Mr Stein’s pre-
formation expenses contained a line
item for the $235,000 delivered to

that law firm.

“Thus, Mr Stein received equity
credit in his capital account for this
$235,000 pre-formation expenditure
in 2006, and was not entitled to
receive the escrowed sum of
$250,000 in 2008. Mr Stein conceded
that it would not be proper to be
paid twice.”

Another dispute arose over the
$1.5 million that had been ear-
marked as deposits in transactions to
buy-out the existing homeowners at
South Ocean, who live adjacent to -
and in the middle - of the proposed
development site.

“The acquisition of these homes,
which were located in an area that
was viewed as problematic for the
project development, was urged by
Seaside Heights representatives, and
was important to them,” the Tri-
bunal found. “Seaside Heights pro-
vided the $1.5 million for the specific
purpose for which it was earmarked
because of its interest in correcting
what was seen as a defect in the land
assemblage.”

No deposits were ever paid,
though, and the Tribunal ruled that
despite claims by RHS Ventures
that the $1.5 million had been used
to pay Stamp Taxes, and
Seaside/Plainfield was informed,
there was no documentation to sup-
port this. The latter denied it, too.

ATT
profit rises 37%

UB By ay

SAN FRANCISCO —
Google Inc. is thriving again,
and feeling so good about the
economy that it's spooking
investors, according to Assoct-
ated Press.

The company's first-quarter
earnings exceeded analyst esti-
mates and its revenue growth
accelerated for the third con-
secutive quarter. More people
clicked on Internet ads pow-
ered by its dominant search
engine. But the results released
Thursday didn't impress
investors, who appeared wor-
ried that the strengthening
economy may cause Google to
abandon some of the financial
discipline that it exerted dur-
ing the recession. The compa-
ny's shares tumbled almost 5
percent in extended trading.

Investors also might have
been unnerved to see a decline
from the previous quarter in
the prices paid for Google's ads.
The average first-quarter price
fell 4 percent from the fourth
quarter. But it was 7 percent
above the average rate at the
same time last year.

The architect of Google's
cost cutting, Chief Financial
Officer Patrick Pichette, left lit-
tle doubt the company is loos-
ening its pursestrings again.

"We are continuing to invest
heavily in people, products and
acquisitions,” Pichette told ana-
lysts in a Thursday conference
call. Pichette, who joined
Google in 2008, steered the
conference call, filling Google
CEO Eric Schmidt's usual role.
It marked the first time that
Schmidt hasn't been on
Google's earnings conference
call since the company went
public in August 2004.

The decision to have Schmidt
sit out the call was disclosed to
The Associated Press several
weeks ago.







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


PAGE 8B, FRIDAY, APRIL 16, 2010

FROM page 1B

In his latest report to the
Bahamian Supreme Court, Antho-
ny Kikivarakis, the Deloitte &
Touche (Bahamas) partner
responsible for liquidating Cale-
donia Corporate Management,
warned that the 2 per cent of client
assets already paid into a security
account was “insufficient to cov-
er the current costs incurred in the
company’s liquidation”.

As a result, the Deloitte &
Touche (Bahamas) partner said he
was planning to approach the
Supreme Court for an Order that
he use a further 2.5 per cent of the
client assets that Caledonia for-
merly held on trust to fund the liq-
uidation, given that the broker’s
insolvency prevented it from fund-
ing the wind-up itself.

This 2.5 per cent would come
from a further 8 per cent of client
assets Mr Kikivarakis had already
been authorised to hold in escrow,
to cover potential liquidation costs.

“Due to the complexity of the
company’s liquidation process and
the challenges encountered in exe-
cuting my duties as the company’s
official liquidator, I believe that
[Caledonia’s] liquidation process
has come to a pivotal point, and I
will require directions from the
Supreme Court to ascertain the
most efficient and effective way to
execute my duties,” Mr Kiki-
varakis alleged in his report to the
Supreme Court.

He will now seek a Supreme
Court order for “the use of an



eee

THE TRIBUNE

$25m broker wind-up reaches ‘pivotal point’

assets to cover the company’s liq-
uidation costs”, plus a ruling “to
transfer the remainder of the
clients’ 8 per cent to them, after
the deduction of an additional 2.5
per cent as mentioned above”.

Mr Kikivarakis’s report said he
and his attorneys had not been
paid their liquidation fees -
totalling some $1.06 million - for
some 15 months, from January 1,
2009, to end-March 2010. Of this
sum, $830,000 was due to Deloitte
& Touche (Bahamas); $155,000
due to Alfred Sears, his attorney,
at Sears & Co; and $73,000 due to
his US attorneys, Borden Gervais
LLP.

However, the report said just
$53,393 was left in the Clients’
Security Account from the 2 per
cent originally paid over, a sum
that amounted to $1.338 million.

Mr Kikivarakis said only
$120,143 of the 2 per cent sum
remained to be collected, and with
$1.06 million in fees allegedly out-
standing, he concluded: “The 2 per
cent ordered by the Supreme
Court is insufficient to cover the
current costs incurred in [Caledo-
nia’s] liquidation.”

Well-placed sources told Tribune
Business yesterday that Caledo-
nia’s clients, desperate to recover
their remaining assets more than
two years after the company was
placed into court-supervised liqui-
dation, are less than pleased that
the liquidator wants more money

to finance the liquidation. This
newspaper was told that clients
were especially concerned that the
liquidation team had incurred
another $1 million-plus costs at a
time when no judge had been
appointed to oversee the Caledo-
nia liquidation. The liquidation has
been without judicial supervision
since Justice Lyons resigned.

Meeting

Tribune Business was told that
these were concerns were sup-
posed to have been raised at a
meeting between the Clients’
Committee and Mr Kikivarakis
scheduled for yesterday, but this
is understood to have been can-
celled.

Meanwhile, Mr Kikivarakis said
he would also seck a Court Order
requiring Caledonia’s “former
management, shareholders and
certain employees”, plus Marcus
Cheetham, president of South-
worth Consultants, the company’s
information and technology con-
sultants, to give depositions on
“their actions prior” to the liqui-
dation.

The liquidator alleged that Mr
Cheetham had sought a meeting
with him “to discuss issues” men-
tioned in his last Supreme Court
report, “concerning the removal
of [Caledonia’s] information and
records”.

“T agreed to meet with the pres-
ident, but was later advised that
he was no longer interested in
meeting with me. My request for a
subsequent meeting was not fruit-
ful,” Mr Kikivarakis alleged.

Mr Kikivarakis had previously
alleged he had uncovered evidence
of a plan to delete Caledonia’s
records prior to the liquidation,
although Southworth Consultants
said it was unaware how these had
been erased.

“(Caledonia’s| former manage-
ment appears to have acted irre-
sponsibly in exercising its fiduciary
responsibility, which has impact-
ed if not all, most of the company’s
clients,” Mr Kikivarakis alleged.

“From an analysis of my find-
ings thus far in the company’s liq-
uidation process, I verily believe
that the company’s management,
shareholders and certain employ-
ees should be deposed to assist the
affected clients in recovering their
assets that were lost, and to explain
their actions.”

Caledonia collapsed into liqui-
dation after suffering an almost-
$25 million trading loss, which
resulted when Jitney, its Canadian
correspondent broker, sold off
assets to cover an overdrawn mar-
gin loan balance that was not col-
lateralised by the client who had
created the ‘hole’ in question.

That overdrawn balance was in
an account operated nominally by
a Ron Wyles, whose trading activ-

ities were directed by George
Georgiou, a Canadian who has
since been of securities fraud in.

Much of the fraudulent activity
was allegedly directed from the
Caledonia account.

Jitney ended up selling off assets
belonging to Caledonia clients oth-
er than Wyles/Georgiou because
they were all pooled in one
omnibus account with it, with no
segregation. The duo had alleged-
ly been engaged in short-selling, a
high-risk trading strategy suppos-
edly collateralised by so-called
‘penny stocks’, and incurred sub-
stantial losses that eventually sunk
Caledonia.

In his latest Supreme Court
report, Mr Kikivarakis alleged that
he had uncovered a $500,000 short-
fall at a FirstCaribbean Interna-
tional Bank (Bahamas) account
operated by Caledonia.

He alleged that “some clients’
assets were removed from their
accounts, and we were unable to
ascertain why the funds were
removed or trace where the funds
went”.

“Clients were allowed to obtain
overdrawn balances at First-
Caribbean, using other clients’
assets, without their knowledge or
consent.

“As a result of this, clients with
positive cash balances may incur
losses if overdrawn balances are
not recovered,” Mr Kikivarakis
alleged.







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