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 )

Downloads

This item has the following downloads:


Full Text
TRY li | \

Pim blowin’ it

ar
LOW

pbb.

uF eo
.
By rt
=H =
ne

we

Volume: 106 No.135

aU a)

87F
76F



The Tribune



ANY TIME...ANY PLACE, WE’RE #1





Beauty:

AA E

Sa

Prone into Killer
lornade ordered



Government announces
‘intensive’ investigation

THE government has
announced it will launch an
independent and “intensive”
investigation into the condi-
tions surrounding the death
of three Freeport Container
Port workers when a violent
tornado struck Grand
Bahama on March 29.

In the wake of the disaster,
which left dozens injured and
caused millions of dollars of
damage, the finger pointing
commenced. The PLP blamed
the FNM for closing the
Meteorological Office in
Grand Bahama, while gov-
ernment sources said there is
no doubt “negligence” at the
Met Office in Nassau was at

least partially responsible for
the extent of the catastrophe.

Workers at the Container
Port called into question the
safety regulations put in place
by Hutchison Whampoa,
which owns the facility.

Now, according to Minister
of Labour and Social Devel-
opment Dion Foulkes,
Jacques Obadia, an indepen-
dent occupational safety and
health expert, will look into
the claims.

In a press statement issued
yesterday, Mr Foulkes
explained that Mr Obadia,
whose services were secured

SEE page 17

Sit Shridath Ramphal writes two-part series

“CARELESS with CARICOM”, the first
of a two-part series, written by Sir ‘Shridath
Ramphal, appears on page 8 of today’s Tri-

bune.

Sir Shridath — better known as “Sonny”
Ramphal— is a truly Caribbean man, who
recalls the days when “for all our size we
stood tall; we commanded respect, if not

always endearment.”

Sir Shridath, a national of Guyana, is a
recipient of numerous awards and honours

from several countries, international bodies SUESMMUEMMEN EL

and academic institutions, including a knight-

hood from the Queen. He has served with distinction the people of
his nation, the Region and the wider international community in a

multiplicity of roles.

Sir Shridath received the honour of membership of the Order
of the Caribbean Community in the first conferment of 1992.

¢ TURN TO PAGE 8 FOR HIS FIRST ARTICLE

“ orde are) la ss

3-TOPPING PIZZA





BAHAMAS EDITION

www.tribune242.com

TUESDAY, MAY 4, 2010

eS
al

SS
SUS ws

USA TODAY.





To A Cup Of
ns ee)









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

Legends
UTE

SEE PAGE EIGHTEEN



Police constable is
charged with murder



Carey.

Carey’s death.

SEE page 17



A POLICE Constable accused of murder was
arraigned in a Magistrate’s Court yesterday afternoon.
Constable Kenneth Gibson, 29, of Sandilands, Village
Road, was arraigned before Chief Magistrate Roger
Gomez yesterday, charged with the murder of George

According to court dockets, Gibson, between Satur-
day, April 24, and Tuesday, April 27, intentionally caused

Carey, 21, was the victim of a stabbing incident in the
Wulff Road area near Lockhart’s Bar. Carey, a resident
of Bamboo Town, died from his wounds last week Tues-





POTCAKE OUT OF ACTION

WITH his leg in
plaster and his
famous hub cap-filled
trolley safely parked,
find out why the
Bahamas’ most
famous urban
commentator is
temporarily off

the streets.

e FULL STORY
ON PAGE TWO















‘Former St Augustine’s
College headmaster dies

A FORMER headmas-
ter of St Augustine’s Col-
lege, Rev Burton Bloms,

OSB, died at Saint
Raphael Hall’s Retire-
ment Centre, St John’s
Abbey, Minnesota, yes-
terday. He was 90.

Fast Track your plans...
with a Fast Track Loan.

The funeral service is
scheduled for May 7, at
3.30pm at St John’s Abbey
Church in Minnesota.

Father Burton first took
over aS headmaster of St

SEE page 17

Fidelity Bank Fast Track Loan

Decisions Fast « Money Fast « Plus Visa Credit Card Fast

Nawiaar 356.7760

Freeport: 752.6677

Marsh Harbour: $67 9155

Jit



NASSAU AND BAHAM/

ISLANDS LEADING NEWSPAPER

Alfred Sears
‘consults with
constituents’ on
whether to seek
re-election

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

PLP MP for Fort Char-
lotte Alfred Sears is report-
edly in consultation with his
constituents as to whether
or not to offer for re-elec-
tion for the area, The Tri-
bune has been told.

As a working attorney
with three children who are
off to university, sources
close to the MP said that it
would be difficult for Mr
Sears to spend an inordinate
amount of time outside of
his law practice, considering
the financial responsibilities

SEE page 20

US oil spill ‘may not
affect contemplation of
Bahamas exploration’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE oil spill spreading
throughout the Gulf of Mex-
ico may not affect govern-
ment's contemplation of oil
exploration applications in
Bahamian waters, said Envi-
ronment Minister Earl
Deveaux.

With an April 22 spill still
leaking thousands of gallons
of oil into the Gulf of Mexi-
co daily — as clean up crews
scramble to contain it — con-
cerns have been raised both
locally and in the United
States over the practice of
offshore drilling.

When these concerns
were put to him, Mr
Deveaux said more atten-
tion on offshore drilling
safety measures coupled

SEE page 20

‘me, atte!

EDUCATIONAL LOAN





PAGE 2, TUESDAY, MAY 4, 2010

LOCAL NEWS

Negotiations between COB.
and union moving slowly |

By AVA TURNQUEST
aturnquest@tribunemedia.net

NEGOTIATIONS
between the Union of Ter-
tiary Educators of the
Bahamas and the College of
the Bahamas continue to
move slowly — with just 10
negotiating days left before
external arbitrators are
brought in to expedite an
industrial agreement.

Two more sub-clauses,
dealing with paid study leave
and management/union rela-
tions, were signed yesterday,
bringing the total number of
sub-clauses completed to
four.

However, because these
cover only outstanding issues
attached to previously signed
clauses, the actual number
of clauses left to be negoti-
ated has not changed.

The institution has
remained tight-lipped about
the negotiation process with
the faculty’s union since talks
resumed on April 26, after

he
JENNIFER ISAACS-DOTSON



a three and a half day strike
forced both parties to agree
to a completion deadline.

The union has repeatedly
voiced its skepticism that an
industrial agreement can be
agreed by May 14, arguing
that the college’s post-strike
actions have not demon-
strated “good faith”.

The union is seeking legal
advice on a number of mat-
ters surrounding their con-

troversial industrial action
which started on the first day
of exams last month — name-
ly communication to faculty
from the college before the
strike and the subsequent
pay cut imposed on union
members afterwards.

Union president Jennifer
Isaacs-Dotson has said these
issues would not affect the
union’s efforts to achieve an
agreement, but some ques-
tion the possibility of success
considering the increasingly
hostile atmosphere.

It had been previously dis-
closed by both parties that
the clauses which present the
most difficulty deal with
appointments, promotions,
duties and responsibilities,
performance assessments
and salaries.

However, another possi-
ble setback — which the col-
lege has not acknowledged
—is an apparent lack of
agreement on the number of
clauses that are left to be
negotiated.

Because the process allows :
both parties to submit claus- :
es for discussion, it is difficult :
to ascertain just how many :
clauses are under considera- :

tion.

ber is actually closer to 50,

with some clauses yet to be
addressed despite having :

been submitted last year.

Meanwhile, the college :
commenced its search fora :
new president yesterday, giv- :
ing possible candidates just :
over a month to submit :

applications.

The search is being man- :
aged by a US firm, Academ- :
ic Search Inc, however with :
faculty-administration rela- :
tions still unstable, it is :
uncertain how the ongoing :
negative atmosphere will :
affect the submission process :
and ultimately the new pres- :
ident’s relationship with the :

union.

Although the college has :
specified there are only :
around 32 clauses left, the :
union alleged that the num- :

Home invasion,

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net



FREEPORT- Grand Bahama police
are investigating a home invasion, armed
robbery and attempted shooting which
took place in the Lincoln Green area
on Sunday.

Asst Supt Loretta Mackey reported
that at around 12.45pm, police were
summoned to Ludford Drive.

A 46-year-old resident told responding
officers that he was at home with a fam-
ily member and some house guests when
two gunmen broke into the house and
ordered them to the floor.




The suspects were wearing dark cloth-
ing, ski masks and gloves.

Ms Mackey said that as the victims
ran for safety the culprits fired shots at
them, however no one was injured.

Before fleeing the scene, the suspects
stole laptops, cell phones and cash.

Officers of the Central Detective Unit
are investigating the incident.

e A Grand Bahama man was
arraigned on drug, firearm and ammu-
nition possession charges in the Freeport
Magistrates Court yesterday.

Kirk Andrew Haven, 35, of Hawksbill,
appeared in Court Two before Magis-
trate Andrew Forbes. He was charged

armed robbery, attempted shooting investigated

with possession of an unlicensed firearm,

possession of ammunition, and posses-

sion of dangerous drugs.

Haven pleaded not guilty to unli- }
censed firearm and ammunition posses- :

sion.

prison.

Haven was granted $3,500 bail with :
one surety on the firearm and ammuni- :

tion charges.

The matter was adjourned to Decem- }

ber 7 for trial.

FOR ALL YOUR DECORATING

“Lowest Prices On The Island”


















FREE DELIVERY ANY WHERE IN NASSAU AND TO THE MAIL BOAT

elias i eR ies i

STORE HOURS:
Monday - Saturday
8:30am - 5:30pm

BILLY’S DREAM
STILL ALIVE

¢ E-Z CREDIT TERMS AVAILABLE

Donald's Furniture
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

She washed with soap.

However, he pleaded guilty to pos- }
sessing drugs and was given a condi- :
tional discharge. The magistrate stipu- :
lated that he must be on good behavior :
for 12 months or serve one year in :

THE TRIBUNE





a re
POTCAKE takes time out to “suman EVI MNTSMcem INCRE



Street leeend
Potcake rests
after being
struck by car

By AVA TURNQUEST
aturnquest@tribunemedia.net

STREET philosopher and
mobile hub cap vendor Pot-
cake is being forced to take a
rest after being struck by a
swerving car.

The 56-year-old tourist icon
is confined to his home on
Balls Alley, off Shirley Street,
since an accident broke his
leg.

Potcake was travelling
along his customary east Bay
Street route, near the Depart-
ment of Agriculture, and had
stopped to take a break when
he said he felt a car slide into
his right leg.

Police are investigating the
incident.

Potcake was taken to
Princess Margaret Hospital
for treatment.

His leg was place in a plas-
ter cast and he is due to return
to PMH today for a surgical
procedure which will place a
screw in his knee to supple-
ment a bone displaced by the
accident.

The street legend claims the
enforced rest is costing him

an average of $700 in lost
income. He is also worried
about the cost of today’s med-
ical treatment.

“IT don’t know what the
future will hold,” he said. “Tl
find out when I get there.

“Tm losing all kind of mon-
ey, especially over the week-
end. Plenty people know
where I live though so when
they don’t see me on the
street they come to my house.

“T feel like I’m in prison,”
he said, “I used to go to the
beach every morning, but now
I can’t go anywhere.”

His hub cap-filled trolley
and social commentary mes-
sages written on cardboard
have become an active pres-
ence on East Bay Street and
Shirley Street, and though he
is currently unable to publicly
display his work, he admitted
that has not stopped creating
his messages.

He said: “I’ve been writing
since I came out of the hospi-
tal. All I do is sit on the porch
and write, listen to the radio
and read The Tribune news-
paper. As long as I’m keeping
busy time just flies.”







POTCAKE’ $ iconic hub cap- filled trolley is out of action while he

recovers from his injury.



See the difference?

Soap leaves scum.

Dove doesr''t.

ewiten to Dove Bar with
14 MoSwNZing Cream for
softer, smoother skin.



find Deve at your
TaVvOuribe food store.







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





THE TRIBUNE

LOCAL NEWS

TUESDAY, MAY 4, 2010, PAGE 3



0 In brief

Teacher accused
of indecently
assaulting

girl aged 10

A MALE Primary
School teacher accused of
indecently assaulting a 10-
year-old girl last year was
arraigned in a Magistrates
Court yesterday.

Marvin Sands, 32, of
Robinson Road, was
arraigned before Magis-
trate Subu Swain in Court
11, Nassau Street, accused
of “fondling” a sixth grade
student in December 2009.

Sands, a music teacher,
pleaded not guilty. He was
granted bail in the sum of
$7,000 with one surety. His
case has been adjourned to
October 14.

Rum Gay man, 37,
charged with rape

A 37-year-old Rum Cay
man was arraigned ina
Magistrates Court, charged
with raping a woman in
August of last year.

William Gaitor is
accused of committing the
offence on Tuesday,
August 18.

The accused, who was
arraigned before Magis-
trate Derrence Rolle-Davis
in Court Five, Bank Lane,
was not required to plead
to the charge.

Prosecutor Sergeant
Sean Thurston objected to
Gaitor being granted bail.
He is expected back in
court today.

Container ship carrying
hewsprint runs aground

A CONTAINER ship car-
rying rolls of newsprint for
The Nassau Guardian and
The Tribune has run
aground near Bimini.

According to the director
of corporate communica-
tions at Crowley Shipping,
Mark Miller, the Stat
Hanover vessel is under
charter by Crowley from its
German owner/operators.

Currently, the vessel has
66 containers onboard, and
according to Mr Miller, all
of the various customers
affected have been notified
of the situation.

While the ship remains
stranded near Bimini, Crow-
ley has already chartered
another vessel on a short
term basis to accommodate
its other clients.

As for the salvaging of the
materials and the Stat
Hanover itself, Mr Miller
said that this responsibility
will fall on the German own-
ers.

The Stat Hanover is not
considered a particularly
large ship by comparison to
today’s mammoth vessels
which can carry thousands
of containers.



q ‘ 1 i . =.
om ie | ‘ e

Take 20% OFF White:

Crepe Backed Satin, Lamour
Heavily Embroidered Eyelet, Lace,
Romie Linen, Poplin, Brocode & silk

* Red and White Cornations for Corsages _.
* White Gloves starting at - -

« New Pearl Neckloce Sets

* Giont Mother's Day Cords from

* Potted Orchids and Roses

(eo pian, pour have fo foul lieu

* New Candle sets, Mugs, Mother's Day bears

By TANEKA THOMPSON



Spanish Wells, added that the

the lobster season - a popular

Oil spill leads to poaching fears

Tribune Staff Reporter
tthompson@tribunemedia.net



THE massive oil spill spread-
ing in the Gulf of Mexico may
lead to an influx of American
poachers to Bahamian waters,
fears the chief of the Bahamas
Commercial Fishers Alliance.

BCFA president Adrian Lar-
oda said his organisation sent
out a warning notice to its mem-
ber fishermen to be on the look-
out for an increase in poachers
whose fishing beds have been
affected by the growing oil spill.

On Sunday the US govern-
ment placed a 10-day ban on
fishing from the Mississippi Riv-
er to the Florida Panhandle as
thousands of gallons of oil con-
tinues to flow from an oil well
which ruptured on April 22.

There are reports that Amer-
ican fishermen in Louisiana, one
of the top US seafood produc-
ing states, are already feeling
devastating effects from the
spill. According to Mr Laroda,
this is cause for heightened vig-
ilance. "Because of our fisheries
being open we are ripe for
exploitation - we can have a lot
of Gulf fishers coming to the
east coast," said Mr Laroda,
adding that the BCFA has not
yet seen any evidence of
increased poaching from Gulf.
"Most of the fishermen out







A PORTUGUESE Man-o- War is seen in Fr cluinbe of oil in the waters in Chan-

deleur Sound, La., Monday, May 3, 2010. Fish and wildlife are vulnerable

to the oil spill.

of the Gulf are deep water fish-
ermen and long line fishers
which is outlawed in the
Bahamas. But desperation dri-
ves people to do all sorts of
things,” he continued. "We are
watching, we put out a circular
to our fishers on Saturday espe-
cially those working the Great
Bahama Bank (area). It's too
early to tell but we'll see what
happens by the end of the
week.”

Fishing experts contend that
poachers plunder millions of
dollars worth of valuable marine
life from Bahamian waters
every year and is 90 per cent of
the fishing industry's complica-
tions. While Dominican poach-
ers are said to be the greatest
concern to industry regulators,
Mr Laroda said in the past, the
industry has suffered from

Cabbies concerned over |
possible limit on access to
Atlantis’ Royal Towers



By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



A PROPOSED policy
change that would limit taxi
access to the Atlantis’ Royal
Towers has some cab drivers
concerned they will lose income.

As of Friday, only private
vehicles and taxis carrying hotel
guests or those who purchased
hotel tour packages will be
allowed to pull up to the Royal
Towers entrance on weekends.
All other taxis will be directed
to the Coral Towers entrance
on Friday, Saturday and Sun-
day. The decision came after
negative feedback from guests
who complained of heavy foot
traffic in the resort's lobbies —
traffic the hotel attributes to an
increase in cruise ship passen-
gers to Nassau — said a company
notice obtained by The Tribune.

One irate taxi driver told The
Tribune that the shift will
undoubtedly slash cab drivers’
income explaining that many
cruise ship passengers opt for a
taxi city-wide tour — which
includes a stop at Atlantis —
over the hotel's official, and
more expensive, tour.

The driver feels the change
will dissuade cruise passengers
from purchasing taxi rides to
Atlantis leaving tourists who
want to see the Royal Towers'
attractions on the weekend with
the only option of buying a
hotel tour.

"This is going to kill us. A lot
of my passengers just want to
go to the hotel and take some
pictures. They don't want to
spend $100 and something dol-
lars per person to tour the hotel.

"They (Atlantis) are basical-
ly saying (non-guests) can go to
the casino and lose all their
money but they don't want

% OFF ENTIRE



them to look at their aquarium.
They're not making any money
off the taxi drivers because our
people are only taking pic-
tures,” said the 20-year taxi
operator who did not want to
be named. "What they are try-
ing to do is stop us from making
a living,” said another taxi dri-
ver who also chose to remain
anonymous. "We already feel
the recession and some of us
have mortgages and children in
private schools."

When contacted for comment
yesterday, Senior Vice-presi-
dent of Public Affairs Ed Fields
told The Tribune that hotel offi-
cials will be "having discussions
to address (taxi operators’) con-
cerns" early this week. He
reserved further comment.

The hotel's notice to public
service drivers said, "In an
effort to ensure the best possi-
ble experience for our hotel and
paying excursion guests Atlantis
will be restricting access to cer-
tain areas of the resort begin-
ning May 7".

The notice also says that as of
this date, non-hotel/non-excur-
sion guests will be able to access
the Marina Village shopping
area, the Coral and Beach Tow-
ers' lobbies and the casino —
but will not be allowed to enter
the Royal Towers lobby and its
Ruins exhibit between 7 am and
7 pm. According to the notice,
the restrictions will only apply
on Fridays, Saturdays and Sun-
days "in the beginning" to "cor-
respond to our higher occupan-
cy and check-in/out periods."

The notice adds that the hotel
will "monitor and evaluate the
impact of this change on our
business and guest services and
advise you if any adjustments
are required."

The letter also says the prop-
erty plans to reintroduce com-



STOCK OF WHITE FABRIC












Pe ean vali re De ae

ae Lae

EOC a POPUP O PARI UES CUR od Pwo LR a a vd) YY Ey



Hats off to the Ladies:
New white and pastel hats far
Mother's Day

Decorated and Undecorated

[



Americans as well. Meantime,
as environment stakeholders
monitor the spill's develop-
ments some fishing industry
insiders are doubtful the
Bahamas will be able to cap-
atalise on any possible increase
in demand for exported seafood
into the United States.

"The export of seafood from
the Bahamas is a very regulated
activity and it's not very simple
to get seafood legally exported
from the Bahamas. There are
lots of requirements that must
be met - first of all there has to
be an export license (granted
from the Ministry of Agricul-
ture) and the seafood has to be
of the required standard," said
Director of Marine Resources
Michael Braynen.

Abner Pinder, chief coun-
selor of fishing community

VERS Ci Eley

missions — at a rate of $3 per
passenger — to taxi drivers who
refer their passengers to an
Atlantis tour or day pass.

Messages left for Leon Grif-
fin, head of the Taxi Cab Union,
were not returned up to press
time.



eB Bose
Fertilizer, Fungicide,
Pest Control
Tropical Exterminators
hi ra aly |

Bahamas most likely would not
be able to supply any increased
demand for fish export.

"I don't think we Bahami-
ans are catching enough fish to
justify an export market when
(even our) hotels are importing
the fish," he said, adding that
































Now

MOM is SURE
to look
FANTASTIC

this

MOTHER'S DAY

ina sclection

by
Donna Morgan

lets
Arrivals
weekly



Established in 1936 by an old Bahamian family

export - is closed until August.

According to Mr Laroda
there are about six to seven
local companies that export
seafood into the United States.

@ SEE PAGE SIX:
What Tribune readers say



Parliament Street (near Boy St.) Tel: 3E2-8999 or SET (57
« Pan: gOS
Crystal Courd at Athantis, Paradise Istand Tel: 36341612



Lafond Cay (Harkour Geen Shops at Lytord Can)
Tel: 362-5253

e-mail: info enlesninaxsaucom
www.coleninaeesucom " PA), teas WIZ]



The Bahamas Electricity Corporation
invites the public to a

TOWN

MEETING

on

PROPOSED TARIFF
ADJUSTMENTS

Thursday, May 6, 2010 at 7:00pm
L.W. Young Junior High School,

Bernard Road

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





PAGE 4, TUESDAY, MAY 4, 2010

THE TRIBUNE

No animal has

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

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

Time to rethink oil drilling in the Bahamas

WORLD WAR I was supposed to have
been the “war to end all wars,” until 21 years
later the mistakes made around the negoti-
ating table of that war spawned World War
II. Since then the world has been involved in
many skirmishes of varying proportions.

A few minutes past midnight on March 24,
1989 the oil tanker Exxon Valdez struck a
reef in Alaska’s Prince William Sound,
spilling 11 million gallons of crude oil over
470 miles, leaving behind an environmen-
tal nightmare that the world had never seen
before — and hoped it would never see
again. The initial cleanup took three years
and cost more than $2.1 billion. The deadly
toll on wildlife will never be known.

As a result of the Valdez accident an
unsuspecting public would no longer believe
a corporation’s word that its operations are
completely safe.

The Alaskan disaster resulted in tighter
environmental regulations being imposed
on various industries. “The most important
regulation attempting to protect against a
repeat of the spill,” said one report after the
accident, “is the modern standard for tanker
ships, which now must be built with double
hulls, so that if the outer skin is punctured,
no oil will leak.”

Ostensibly the Valdez was an oil spill —
like World War I — that was to end all oil
spills of such magnitude. But then there was
April 22 — just 11 days ago — when BP’s oil
rig exploded in the Gulf of Mexico, spewing
out an estimated 200,000 gallons of oil a
day, with still no sign of letting up. Eleven
persons were killed. Ironically, the chaos
erupted as the world celebrated Earth Day.

According to reports BP hopes to deploy
a giant, 40-foot steel funnel within the next
few days to attempt to trap much of the
leaking oil at source. However, while the
technique has worked in shallow water, it has
never been done under a mile of ocean.

It is forecast that this spill will be far
worse than the Exxon Valdez tragedy and
will threaten even more extensive areas,
killing wildlife, destroying beaches, and anni-
hilating the livelihood of hundreds of fish-
ermen, and allied businesses. Bahamians are
holding their collective breath that the wind
currents don’t shift, sending the oil splashing
on our shores.

Although, now is not the time for finger-
pointing as every resource is being used to





Quality





Auto Sales
PRE-OWNED CARS

and TRUCKS

pt
CAR SALES ACCEPTED

Check Out Ihese Great Values

stop the flow and spread of the life threat-
ening oil, shortly after the explosion it was
suggested that BP’s oil rig did not have what
is known as a blow-out preventer. It was
claimed that cost was a consideration. How-
ever, as the news continued to flow as fast as
the oil, it was reported that although BP
had the preventer, the equipment had mal-
functioned.

Apparently, blow out preventers, which
would have capped the spill, are mandatory
in Norwegian and Brazilian offshore oil
drills, but not in oil drills off the United
States. It was claimed that regulation of
these drills are not sufficiently strict.

This was a spill that after the Valdez was
not meant to have happened. But it did.

In May last year it was predicted —
almost jubilantly — that the Bahamas could
be an oil producing company within 10 years.
As far back as we can remember oil compa-
nies have been poking around in our waters
prospecting for oil. So far nothing has been
found. In view of what is now happening in
the Gulf, it is probably a blessing, and could
be a warning that fate should not be tempt-
ed.

In March, when asked about the two
companies that have raised £2.4 million to
increase working capital to invest in deep
water drilling in the Bahamas, Phenton Ney-
mour, minister of state for the environment,
said the government was “proceeding cau-
tiously.”

In view of what is happening in the Gulf,
we suggest that government turn its back on
oil and think in terms of more environmen-
tally sustainable methods to provide our
needs.

Remember there has never — and will
never be a war — to end all wars, unless it is
the final war. Nor will there be an oil drilling
accident that will end all such accidents. But
if we don’t take heed and realise that no
matter what proud Man believes, it is Nature
that has the last word, an oil drilling accident
in these waters could be the final curtain on
a Bahamas that we once knew.

It is true, that an oil find in our waters
would mean tremendous wealth, but it could
also mean tremendous tragedy.

And as we should all know by now, mon-
ey is not everything — as a matter of fact one
wise man warned that it is “the root of all
evil.”







responsible for



ever been abused

or mistreated at
Noah’s Ark Zoo

EDITOR, The Tribune.

I would like to respond to
the letter in yesterday’s Tri-
bune written by “Hope for a
Change”, in which there
were a number of utter lies
regarding Noah’s Ark Zoo.

First of all, the zoo has
only been in existence for
five years, not 30 years as
erroneously suggested.
Noah’s Ark Zoo has been a
shelter and a haven for a
number of “over the hill”
animals during that period
of time. We have trained
and groomed pets and edu-
cated people on how to care
for their animals and treat
them with love.

Unfortunately there are
groups in this country who
think poor people cannot
show the same love that the
rich and elite can show and
would prefer to take away
animals from poor people,
to give to the high society in
Camperdown and Lyford
Cay rather than educate.

In defence of the Canine
Unit, we believe they do a
great job at performing their
duties with the resources
that are handed to them.
Who is this Canadian to
decides the standards by
which we should operate
our facilities on the
Bahamas? Do we accuse
someone of being cruel to
their children because they
cannot provide them with
million dollar homes, send
them to elite schools, feed
them caviar and dress them
in expensive clothing? Do
we expect a child whose par-
ents live in Bain Town to be
afforded the same privileges

LETTERS

letters@triounemedia.net



as the child who lives in
Lyford Cay? It’s the love
and attention that we give
our children and our animals
that counts!

The proper way to deal
with these situations is not
to try and take away, or put
animals to sleep (for reasons
other than serious medical
ailments) or to be prejudice
about where they live, but
to educate the public and to
put in place a strong neuter
programme.

I challenge the person
who wrote the letter to
prove that there has been
animal cruelty to any ani-
mal at Noah’s Ark Zoo. In
any zoo setting, there will
be animals who are well and
those who are not so well.
Many times animals when
brought in the country ini-
tially go through a period of
adjustment and stress to a
change in weather and feed,
and sometimes they even
loose weight. With the prop-
er treatment, they eventual-
ly get well and thrive. At no
time at Noah’s Ark Zoo has
any animal ever been mis-
treated or abused.

Noah’s Ark is a shelter
and a haven area for over
the hill animals. We often
get neglected animals, which
we rehabilitate and then we
educate people about how
to care for them, and return
them to their owners. We
comply with rules and regu-
lations regarding animal

imports. Our intention is
that Bahamian children over
the hill will be able to enjoy
the sights and sounds of
domestic and exotic animals,
the same privilege that any
child living on the Eastern
Road or Lyford Cay is
afforded.

The Canadian visitor
mentioned in the newspa-
per, came to the Noah’s Ark
Zoo during our renovation
period, with two ladies from
Camperdown. Business has
been slow, and they offered
to assist by providing spe-
cial feed that would put
weight back on a particular
horse (a coveted “painted
stallion”) that had under-
gone stress in transit to Nas-
sau, and when we went to
purchase the feed, they
refused to sell the feed to us
or answer the phone. In the
words of one of the ladies,
“What do you have this
horse for? Give me this
horse!”

We have worked very
closely with the Bahamas
Humane Society and The
Bahamas Agriculture
Department during the past
five years since we have
been open. I would love to
see The Bahamas Govern-
ment establish some basic
criteria by which we can be
guided, so that Noah’s Ark
Zoo can prove that we are
up to standard and are not
judged by some foreigner
who is clearly trying to
destroy what we have
worked so hard to achieve.

NOAR’S ARK ZOO
Nassau,
April 22, 2010.

Dr Andre Rollins is undoubtedly one of
the more qualified aspiring politicians

EDITOR, The Tribune.

I noted with interest an edi-
torial in the Saturday, April
10th edition of The Nassau
Guardian and would like to
offer my comments re: Young
Politicians Beware.

I came to know Dr Andre
Rollins some time ago when
he wrote an interesting and
provocative letter to the Edi-
tor. Since then, we have come
into contact with each other
on several occasions. I would

NOTICE

NOTICE is hereby given that
of SUNLIGHT VILLAGE OFF EAST STREET, P.O. BOX
SB-50243, NASSAU, BAHAMAS
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,
written and signed statement of the facts within twenty-
eight days from the 27 day of April, 2010 to the Minister
nationality and Citizenship,
N-7147, Nassau, Bahamas.

STEVENSON ROMEUS

is applying to the

should send a

P.O. Box



tell him, I have an application
for him to join the Free
National Movement and he
would say to me, he has an
application for me in St
Thomas More. One can easi-
ly argue that Dr Rollins has
done a pretty good job of pro-
moting himself during the lim-
ited time he has been on the
political scene. Obviously, he
possesses some potential and
he may have the wherewithal
to be a good politician in this
environment. The quality of
the character of today’s politi-
cians I believe is pale in com-
parison to those of yesteryear.
Ihave always maintained and
still do, that there is no future
in this country for a third par-
ty. You need only ask Dr
Bernard Nottage, Phenton
Neymour and Charles May-
nard. The Editorial questions
Dr Rollins’ integrity. The
question of integrity does not
arise. If he gets a nomination
with one of the major parties
in 2012 no one will remem-

To meet the challenge of operating our growing business, we wish to recruit a:

Chief Operating Officer

ber his harsh criticism of those
parties. This is sad because
you now have to question the
integrity of the voter. Does
the average voter possess any
integrity?

In my opinion, Dr Andre
Rollins is undoubtedly one of
the more qualified aspiring
politicians not sitting in par-
liament.

So, it does not surprise me
that the two major parties are
courting him.

I do not believe his integri-
ty will come into question
should he join one of them
nor do I believe he will have
to look over his shoulders in
the future. When one looks
at the political history you will
note that the politicians who
jump ship read like a who’s
who in politics, from Whit-
field to Bostwick, to Foulkes
to Ingraham.

PAT STRACHAN
Nassau
April 12, 2010.

06 HYUNDAI SONATA

01 HYUNDAI ELANTRA

05 HYUNDAI SANTA FE
"97 VOLKSWAGON BEETLE
"98 HYUNDAI COUPE

01 MAZDA MPV WAGON
"99 PLYMOUTH VOYAGER
03 DAIHATSU TERIOS

03 HYUNDAI H1 VAN

00 HYUNDAI ACCENT

a U to SD
i QUALITY: @
7 LIMITED i.

#1 AUTO DEALER IN THE BAHAMAS
EAST SHIRLEY STREET * 322-3775 ° 325-3079

Visit our showroom at Quality Auto Sales (Freeport) Lid for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd, 367-2916

OPEN: Mon to Fri 8:30am - 5:30pm e Sat 8:30am - 12:30pm

Main responsibilities: — Responsible for the daily operation of the Bank

Reports to the Managing Director

Support and advise the Managing Director in decision making
Running of all back office functions

Direct and administer all financial plans

Organizational reporting and monitoring

Oversee business policies and accounting practices
nformation technology












Ideal Profile: Strong operational and administrative experience; Ideally several
years experience as Chief Operating Officer

— Fluent in English and French; fluent in German an added benefit
— Higher Education

— Strong organizational and management Skills

— Ability to lead, plan, multi-task and manage change



What we offer: — A salary which is commensurate with the job,
a pension plan and medical insurance.

We will only reply to candidates that fully match our requirements listed above, please send your resume and reference to:
SYZ & CO Bank & Trust LTD. | Attention Jillian Ferguson (jillian.ferguson@syzbank.com) | Tel: (+1 242) 702 14 00
P.O. Box N —1089 | Bayside Executive Park | West Bay Street & Blake Road | Nassau, Bahamas







E>

SEER

www.syzbank.com

SYZ s& CO
BANK & TRUST







THE TRIBUNE

Large increase in tourists from
China ‘unlikely in near future’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

DESPITE a projected
annual growth of 10 to 15
per cent in the Chinese
outbound tourism market,
Chinese Embassy officials
in Nassau, say they do not
expect a large increase in
Chinese tourists to the
Bahamas in the near
future.

Jian Tan, chief of the
commercial section in the
Embassy of the People’s
Republic of China in Nas-



THIS JITNEY crashed

into a wall on Satur-
day afternoon on
Shirley Street. There
were passengers
onboard, however,
despite an ambulance
being called to the
scene, there were no
reports of any injuries.

























Chinese Embassy says high
cost of travel and lack of
direct flights are barriers



SOUL iea BL aa

Badash Crystal
Arc Glass & Crystal
Circle Glassware

sau, said the high cost of
travel between the
Bahamas and China and
the lack of direct flights
are two major barriers to
travel.

He said countries like
Thailand, Singapore, and
Indonesia have benefited
from the increase in Chi-
nese travel abroad.






“Of course the Chinese
people would like to trav-
el to this beautiful coun-
try. All Chinese people
know the Caribbean is one
of the most beautiful
regions in the world. Of
course, for some of the
rich Chinese people, it is
easy for them to come
here, but for most of the

































common Chinese people,
they are just at the begin-
ning stage of visiting the
countries near to China
because it costs must less,”
said Mr Tan.

Mr Tan said the lack of
direct flights between Chi-
na and the Bahamas is
another problem, because
Chinese visitors have to
apply for transit visas, usu-
ally to the United States
or the United Kingdom, in
addition to applying for
Bahamian visas.

Some progress was
made recently with the

“ Zion





Jewelry Boxes
Handbags
Picture Frames
Artificial Flowers
Gift Baskets

from Max's

TUESDAY, MAY 4, 2010, PAGE 5

LOCAL NEWS









(above) in the 2010 Shanghai
World Expo (right).

Bahamian visa application.
The recent opening of a
consular section at the
Bahamian Embassy in
Beijing reduced the wait
time for Bahamian visas
for people in the Asian
region to less than a week.

Previously, visa applica-
tions were made via the
United Kingdom's diplo-
matic mission in Beijing,
forwarded to the Bahamas
for processing, and sent
back to China.

“IT think maybe in the
future there will be some
change; the airlines will
talk about direct flights in
the future. And also after
the Baha Mar project is
done, we can expect they
will do an attractive job to
bring more Chinese
tourists. I think the infra-
structure of tourism will
be improved after they
have that especially on this
island,” said Mr Tan.

The Bahamas govern-
ment is implementing
measures to promote the
Bahamas to Chinese trav-
ellers, despite some of the
unfavourable realities.

Late last month, Wu
Bangguo, Chairman of the
Standing Committee of
the National People's
Congress of the People's
Republic of China, visited

THE BAHAMAS is participating







the Bahamas to sign sev-
eral agreements with
regard to roadwork,
investments and technical
cooperation with the
Bahamas government.

The increased coopera-
tion between both coun-
tries is expected by some
to produce positive results
in the tourism market.

The Bahamas’ participa-
tion in the 2010 Shanghai
World Expo is also expect-
ed to increase the coun-
try’s profile in the Asian
market and create new
opportunities for travel to
the Bahamas.

ie
EXTERMINATORS

etRH UE
PHONE: 822-2157



The Department of Statistics is conducting its Annual Business Establishment
Survey from May until the end of September, The survey requires

that businesses and institutions provide the following information;

|. Number of employees

2. Wages & salaries

3. Annual hours worked

4. Revenues & expenditures
5. Depreciation & acquisitions

The data generated fram the survey is used te measure each sector's
contribution of national output, and provide information essential to the
estimation of national ingore and the gross national product of The

Bahamas.

lf you are involved in the the production of goods and services, you can help
contribute to our national income by completing the Annual Business
Establishment Survey questionnaire accurately and in a timely fashion.










¢ Godinger Silver
¢ Gibson Dinnerware POPTONERIE NEW PROVIDENCE GRAND BAHAMA
¢ Studio Silversmiths questionnaires ee epee ae
° . ULE i Darling Highway ‘ he
Giftware April 30th-May 8th, 201 0 returned to the eee Li ee
erat | lassi, Balrarias Freeport, Grand Bahama

tae ia ee

Tek 325-2067 | Fax: 326-0379 Tek 352-7196 | Faxcd 52-6120



1G aan

elt
emu M RUE net i)
rtd PAUL Ab tony

Now open 7am

Se oe "Help Your Sector And Our Nation's Progress"

SCRE VZ-Va CL Cw 10 09
Fax: (242) 393-4096

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

BT
Sado ae eat)



PAGE 6, TUESDAY, MAY 4, 2010

THE TRIBUNE



New $4 million
power system
commissioned on
Grand Bahama

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The Grand
Bahama Power Company has
completed construction of new
69-kv line and Sub-Station in
East Grand Bahama at a cost of
some $4 million. The new
power system will significantly
improve the quality of electric-
ity in the area, especially for
the residents in East End.

Minster of National Insur-
ance and Housing Kenneth
Russell, MP for High Rock,
attended the official commis-
sioning on Friday of Sub-Sta-
tion 7, which is located near the
South Riding Point Oil Termi-
nal.

Minister Russell commend-
ed the Power Company for
making such a large, but neces-
sary investment in East Grand
Bahama, where there is great
potential for future develop-
ments.

“While this power system is
geared to satisfy the needs of
many customers, we want to
invite all new businesses
because East Grand Bahama,
from the Lucayan Waterway to
Sweeting’s Cay, is the new ter-
ritory for development in
Grand Bahama,” he said.

“We will see many new
developments in the days and
years ahead to come, and many
of them are already on the
books right now being consid-
ered.”

Mr Russell indicated that the
new system will greatly facili-
tate development at STATOIL,
the new owners of South Rid-
ing Point oil terminal.

He noted that residents in
the area experienced numerous
dips and spikes in electricity
due to increased operations at
South Riding Point. This, he
said, resulted in damage to
household appliances.

“Statoil is on its own switch-
es (now), so when they start up

Pid

LOCAL NEWS



WN NIN ‘

1)





A NEW 69KV LINE and
sub-station was com-
missioned on Friday in
East End Grand
Bahama by the Grand
Bahama Power Compa-
ny. The new system,
which cost some $4
million to construct,
will significantly
improve the quality of
electricity in the area.
Seen from left are Don-
ald McCartney, senior
official at the Public
Service; Bradley Arm-
brister, local govern-
ment representative for
the area; Senator David
Thompson, GBPC CEO
Alan Kelley, Minister
Kenneth Russell, MP
for High Rock; Paul
Lockhart, director of
transmission and dis-
tribution at GBPC; and
Rev lan Clarke.





their pumps residents will feel
no negative impacts as we did
before,” he said.

Achievement

The construction of the new
69,000 volt line and Sub-Sta-
tion was built entirely by the
all Bahamian work crew at the
GBPC — a significant achieve-
ment for the power company.

The 26-mile volt line runs
from Fortune Bay Drive in
Lucaya to the new sub-station
at South Riding Point.

Paul Lockhart, Director of
Transmission and Distribution,

said the sub-station was con-
structed at a cost of $1.2 mil-
lion, and volt line at a cost of
$3.2 million.

“This power system rivals the
best and is capable of providing
this entire region’s needs for
high quality power for years to
come,” he said.

Mr Lockhart noted that the
old distribution line was severe-
ly challenged in meeting the
area’s total demand, especial-
ly when the oil terminal was
operating at full capacity.

The Power Company, he
said, embarked on the project
for a new power system in East
Grand Bahama, in 2006.

“There are several notable
attributes to this: it is the
longest transmission line ever
built entirely by our construc-
tion crew.

“Secondly, it is the only high
voltage line in Grand Bahama
that has a submarine section
that dips out at the Grand
Lucayan Waterway and it
serves our most remote sub sta-
tion 7.”

CEO Alan Kelley said the
new system was built not only
to accommodate future growth
at SRP, but to also provide sup-
port for the new College of the
Bahamas campus, which is
expected to be completed in

August.“The campus will be
opening in August of this year
and one of our jobs was to
make sure this work was done
prior to that opening.

“It also provides for further
growth in East End and high
quality services for residents in
the East End of the island,” Mr
Kelley said.

Mr Kelly stated that Grand
Bahama Power Company has
a vision- “to be the leader in
the island-based energy indus-
try.”

“We don’t see ourselves
there yet, but in five years or so
that is where we would like to
be,” he said.



if
TEER OI Ca
TROT ACTS Tt i

NT TTS









(AP Photo/Michelle Rolls-Thomas)





CONTRACTORS move sand pumped in through a dredge pipe in
Little Lagoon Monday, May 3, 2010 in Gulf Shores, Ala. The sand
is being piled along side Little Lagoon Pass so it can be moved
into the pass keeping oil from moving into the lagoon.

Following the major oil spill in the Gulf of Mexico, Tribune
readers have voted in favour of the Bahamas rejecting all appli-
cations for exploratory drilling permits in local waters.

The latest poll on tribune242.com asked online readers how
they thought the government should react to the two or more
foreign companies hoping to find oil in the Bahamas.

Of the 172 readers who responded, 107 said the Bahamas
shouldn’t be getting into the oil business, while 65 said the
permits should be granted.

Commenting on the poll, Inquiring Mind said: “Tt is often said
that when entering a business, you should pick a profession that
you will enjoy. In this case, we will not enjoy any benefits in the
tourism sector of our economy if there was an oil spill, which can
take years before the damage is reversed. While I may like to
see a well-diversified Bahamian economy, we cannot bite the
hand that is feeding so many of us.”

Open Mind responded, saying oil is better than tourism, and
may bring in more investors.

The reader argued that the “hand” feeding the Bahamas is
only distributing “bread crumbs”.

“Tourism prospers the few Bahamians, not the many. The
majority get the trickle. So how can our economy really be
diversified with two industries — tourism and banking? No
wonder why some people turn to a life of crime as a career to
profit and prosper.

“If we have oil, that’s more money in the economy and an
additional career option to choose from instead of just the
main two. The overfow of the oil money can go into a fund for
emergency or oil spill prevention.”

However, according to Erasmus Folly, tourism is by far the
better choice, as oil is the epitome of an industry which con-
centrates wealth in the hands of a few — as demonstrated by
“10,000 Saudi princes, dictatorship in Venezuela, ethnic strife in
Nigeria, US occupation of Iraq, theocratic regime in Iran, dic-
tatorship in Russia, rife corruption in all oil producing states.”



I



284 Bay Street, Nassau, Bahamas
Telephone: (242) 302-2800
Palmdale ¢ Mall at Marathon













ee

a el ee

(AP Photo/Alex Brandon)
A PORTUGUESE MAN-0-WAR is seen in clumps of oil in the
waters of Chandeleur Sound, La., Monday, May 3, 2010.

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













THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 7

LOCAL NEWS

Woman starts

petition against

noise pollution
in the Bahamas

By AVA TURNQUEST
aturnquest@tribunemedia.net

A WOMAN, after she and
her neighbours suffered
another sleepless night
because of a loud and late-
running musical concert, has
started a petition for stronger
legislation against noise pol-
lution in the Bahamas.

Barbara Donathan-Hen-
derson, 49, of Killarney,
penned the petition early Sat-
urday morning as a Friday
night reggae and Bahamian
music concert held at Arawak
Cay — which reportedly con-
tinued until 6.22am on Satur-
day — left residents from “fish-
fry to Oakes Field, all the way
to Highland Park and all sur-
rounding areas” very upset.

Since then the petition has
collected more than 268 sig-
natures.

As a hotline operator in
the Killarney Constituency,
Ms Donathan-Henderson
explained that she routinely
receives noise complaints
from residents who express
their frustration at noise levels
from night clubs, beer festi-
vals, music concerts and pri-
vate residential parties.

She said that not only is
existing legislation governing
noise pollution inadequate, it
is not properly enforced or
adhered to and provides no
penalties for repeat offend-
ers.

The online petition read:
“Ts it necessary for people to
have a function that the entire
nation can hear? We know
that the island is small so can
someone at least insist on a
law that controls the level of
noise from these events? This
is not a first!

“Complaints have been
made to MP's in numerous
areas and the issue seems to
be getting worse and worse!”

Noise pollution is not reg-
ulated under the Ministry of
Environment, however, due
to the number of complaints
received, Environment Min-
ister Earl Deveaux said he
recently wrote the Commis-
sioner of Police with possible
solutions to what he considers
to be a problem of sensitivity,



not lack of legislation.

He advised the police to
establish zones with relevant
decibel level limits for each
zone, differentiating regula-
tions for public spaces and
neighbourhood areas. Limits
could then be further reduced
after a certain time period.

Current protocol for host-
ing a public event demands
that organisers must obtain
the relevant permit from the
licensing authority. The per-
mit would then stipulate the
time restrictions for the event,
however Royal Bahamas
Police Force Press Officer
Chrislyn Skippings confirmed
that it would not necessarily
stipulate the noise levels for
the duration of the event.

Mrs Donathan-Henderson
said: “They (police officers)
told me that they had
received numerous calls about
the noise but they couldn’t do
anything because the organ-
isers had a license and it does-
n’t specify what time they
have to close or how loud the
music can be — so basically
their hands were tied.

“Nobody seems to be able
to do anything about it. ’m
not saying that people should-
n’t have fun and enjoy them-
selves, but if I live three miles
away I shouldn’t have to hear
what’s going on. It’s not just
an annoyance, its a health
hazard.”

Interested persons can find
more on the petition online at
www.againstnoise.com.

Man gets a three-year

sentence after guilty plea

A 27-YEAR-OLD Andros man was given a three-year
prison sentence yesterday after pleading guilty to breaking
into a resort on that island and stealing from tourists.

Lancelot Green of Mangrove Cay was sentenced to three
years on a housebreaking charge and two one year sen-
tences on stealing charges in one case and another three year
sentence on another housebreaking charge along with two
one year sentences on stealing charges in another case. The
sentences will run concurrently.

According to court dockets, Green between 7.45 pm and
10 pm on Monday, April 26, while at Tiano Resort, Andros,
broke into the residence of Pennsylvania residents, Paul
and Susan Driver. There Green, according to court dockets,
stole $400 cash as well as credit cards and passports belong-
ing to the couple.

Court dockets also stated that between 7.15pm and
10.15pm on April 26, Green broke into the home of English
residents, Robert and Katie Donald and stole a $284 safe,
valued at $284, as well as $6,800 in cash, cellular phones and
other personal effects.

“Tam greatly sorry over the crime I have committed. I
would like to apologise to the Bahamas and people affect-
ed by the crime. I would like to apologise to my family,”
Green said.

Green asked that the court be lenient on him in view of
the fact that he had no previous convictions. Green admit-
ted that he threw some of the stolen contents into the sea,
but kept the cash for himself. He also admitted that the
money was in his bedroom.

Mild tremor shakes Haiti
but no damage reported

PORT-AU-PRINCE, Haiti Preliminary data from the

U.S. Geological Survey

PEOPLE ran screaming
from buildings Monday as
a mild tremor rattled a Hait-
ian capital still traumatized
by the deadly Jan. 12 earth-
quake, according to Associ-
ated Press.

There were no immediate
reports of damage or
injuries from the latest
tremor.

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

show the magnitude-4.4
earthquake struck in the
Caribbean Sea about 25
miles (40 kms) west of Port-
au-Prince.

Even minor tremors cause
panic in the Haitian capital
nearly four months after a
catastrophic 7.0 earthquake
that the government says
killed at 230,000 people.

AUG aaa
a 7 Ls xX







THIS backhoe has
been sitting on the beach
across from Orange Hill
near Traveller’s Rest
since last week Thursday.

Residents say they have
no idea where it came
from or who owns it.

One said: “I am not
sure what the intention is,
or whether the govern-
ment put it there, but I
would imagine that its not
a good thing to leave a
backhoe on the beach. It
also damaged the break-
water, and I am sure they
won't repair it.”









Store

Wide

Harbour Bay

Salie

afl, of

394-5767 aebahamas.com

Love your home?
Pay less for your
Insurance.

Join thousands of satisfied customers
who enjoy big savings on their home
insurance.

Home Options insurance offers lower
premiums, flexible cover to fit your lifestyle,
f \ interest-free installment payments and an

efficient claims service.

Call 326-7100 for an agent
or visit www.cgigroup.bm

SECURITY
& GENERAL

SECURITY & GENERAL INSURANCE CO. LTD.

Atlantic House, 2nd Terrace & Collins Avenue PO. Box N-3540 Nassau

bie COLONIAL GROUP
ld] INTERNATIONAL



Tel. 326-7100 www.cgigroup.bm

Colonial Group International is

A member of Colonial Group International:Insurance, Health, Pensions, Life rated A-(Excellent) by AM Best.





PAGE 8, TUESDAY, MAY 4, 2010

Careless with CARICOM - Part 1

By SIR SHRIDATH
RAMPHAL

(Sir Shridath has held the
positions of Commonwealth
Secretary-General, Chan-
cellor of the University of
the West Indies, Chairman
of the West Indian Com-

OPINION

(Today he writes the first



mission and Chief Negotia-

tor in the Caribbean of a two-part series entitled
Regional Negotiating “Careless with CARI-
Machinery. COM”).

Treat Mom to Mother’s Day
All-Day Brunch Buffet.

SUNDAY, MAY 9, NOON TO 4PM

Sheraton Nassau Beach Resort

$390 free

adults,
inclusive

children
4 & under

children
5-12

Free Buffet Brunch for Mom on Mother's Day with the purchase
of one full-price adult Brunch

Local Conch Chowder

Pea Soup with Mini Dumplings

Curry Crab Meat Salad
Three-Cheese Pasta Salad
Greek Salad

Raw Seafood Bar

Jerk Shrimp Pizza

Pigeon Peas ‘n’ Rice and Rosemary
Roasted Potatoes

Tropical Fruit Salad
Guava Duff and Rum Raisin Duff
Creme Caramel

Assorted Cheesecake

Top Round of Beef with Yorkshire Pudding

Rum Cake

Bahamian Grouper with Citrus Cream

Veal Osso Bucco

Chocolate Cake
Carrot Cake

Cornish Hen with a Wild Cherry Reduction

Seafood Penne with Basil Pesto

For hotel reservations call 327-6000
or visit sheratonnassau.com.






Lemon Meringue Pie

Sheraton
Nassau

BEACH RESORT

Introducing The All NEW

























ae

lf you are lOOKING for the

Drive one.

AS “West Indians”, as
“Caribbean people”, we
face a basic contradiction
of oneness and otherness,
a basic paradox of kinship
and alienation. Much of our
history is the interplay of
these contrarieties. But
they are not of equal
weight. The very notion of
being West Indian speaks
of identity, of oneness.
That identity is the prod-
uct of centuries of living
together and is itself a tri-
umph over the divisive
geography of an archipel-
ago which speaks to other-
ness. Today, CARICOM
and all it connotes, is the
hallmark of that triumph,
and it is well to remember
the processes which forged
it — lest we forget, and lose
it.

Throughout history our
geo-political region has
known that it is a kinship
in and around an enclosing
Sea. But, through most of
that time it suited local
elites - from white
planters, through successor
merchant groups, to estab-
lishment colonials — to
keep the Sea as a conve-
nient boundary against
encroachment on their
“local control.” Political
aspirants in our region jos-
tled for their Governor's
ear, not each other's arm.

Strategy

Times changed in the
nineteen twenties and thir-
ties — between the “world
wars.” The external eco-
nomic and political envi-
ronments changed; and the
internal environments
changed -— social, political
and most of all demo-
graphic. Local control
began to pass to the hands
of local creoles, mainly pro-
fessionals, later trade
unionists, and for a while
the new political class saw
value in a strategy of
regional unity. Maryshaw's
slogan “the West Indies
must be West Indian” car-
ried at the masthead of his
crusading newspaper was
evocative. For two genera-
tions, West Indian “unity”
was a progressive political
credo.

It was a strategy that was
to reach its apogee in the
Federation of The West
Indies: due to become
Independent in mid-1962.
It is often forgotten that the
“the” in the name of the
new nation was consciously
spelt with a capital “T” —
The West Indies — an insis-
tence on the oneness of the

an American Icon

Shop & Compare

All rane, a) ew, Boing [oo Hi ewaiably in The
Batanas, ive American Sports cardol Ve
with Aubomuric Transmdssios, cushom fT inch

Siow sheet, poe windows, looks end minors,

og Curtain oir age, pl a standard features,

PUIG 3 pear IO00 mall warrenty, 3 pears
medeuds aistaoce, 1 years mel giotection
eenes ad epaction $9 borthedagy, full lark of

a, loom rats, Heat thee marvin.

pest value available

You owe it to yourself co visi€ our showroom

2010

_prive one. FORD FUSION

(hop @ ‘Compare

2.0L, Tovar eyLinder engine Wilh) AULT ae Trees,
the mist fel eMicient vehicle in is chase, 6 disc od system,
power windows locks and manors, side custaim ait bags,
UT inch allow wheels, completely new aerodynamic body
design, all ofthis pli 2 year oCee) mk: warraey,
yours meulpele asses, 3 years rust protection, licence
and inspection tm birthday. full tank of pas, floor mats,

CU



first five services.

BOULEVARD

| 956-7100 © FAX: 328-6094

FRIENDLY MOTORS CO, LTD =

EMAL: friesdienotorstthoknad oon
WEBSITE: Rendyneirehahers con



federated region. But, by
then, that was verbal insis-
tence against a contrary
reality, already re-emerg-
ing. The new political elites
for whom “unity” offered
a pathway to political pow-
er through “independence”
had found by the 1960s that
that pathway was opening
up regardless.

Regional unity was no
longer a pre-condition to
“local control.” Hence, the
referendum in Jamaica; and
Trinidad's arithmetic that
'1' from '10' left '0'; even
“the agony of the eight.”
The century old impulse for
“local control” had pre-
vailed, and the separatist
instincts of a dividing sea
had resumed ascendancy.

But, as in the nineteen
twenties and thirties, so in
the sixties and seventies —
the environment changed
against separatism. Inde-
pendence on a separate
basis had secured “local
control”; but the old neme-
sis of colonialism was
replaced by the new
suzerainty of globalization.
Independence, particularly
for Caribbean micro states,
was not enough to deliver
Elysium. “Unity” no soon-
er discarded was back in
vogue; but less a matter of
the heart than of the head.

In an interdependent
world which in the name of
liberalization made no dis-
tinctions between rich and
poor, big and small, region-
al unity was compulsive.
Caribbean states needed
each other for survival;
“unity” was the only pro-
tective kit they could
afford. Only three years
after the rending “referen-
dum” came the first tenta-
tive steps to “unity” in 1965
with CARIFTA; “tenta-
tive”, because the old
obsession with “local con-
trol” continued to trump
oneness — certainly in Cab-
inet Rooms; but in drawing
rooms too; though less so
at street corners.

Despite the new exter-
nal compulsions the pursuit
of even economic unity,
which publics largely
accepted, has been a pas-
sage of attrition. It has tak-
en us from 1965 to 2010 —
45 years — to crawl
through CARIFTA and
CARICOM, through the
fractured promises of
Chaguaramas and Grand
Anse, and through innu-
merable Declarations and
Affirmations and Commit-
ments. Not surprisingly, we
have reached a moment of
widespread public disbelief
that our professed goal of a
“Single Market and Econ-
omy” will ever be attained.

In the acknowledged
quest for survival, the old
urge for “local control” has
not matured to provide real
space for the “unity” we
say we need. Like 19th cen-
tury colonists we still strug-
gle to keep our rocks in our
pockets - despite the
enhanced logic of pooling
our resources and the
enlarged danger of “state
capture” by unelected
groups and external forces
if we do not.

In the 21st century,
despite all we know in our
minds of the brutality of
the global environment and
the need for collective
action to survive it, the iso-
lationist claims of “local
control” still smother the
demands of unity of pur-

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.

THE TRIBUNE





S)inodnint AUN ta ean

“Our regionalism
inspired many in
the South who
also aspired to
strength through
unity. We have all
but withdrawn
from these roles,
and in some
areas like the EPA
with Europe we
have forsaken
our brothers in
the South.”



pose and action. It is puz-
zling that it should be so;
for we have assuredly made
large gains in what “unity”
most demands - “identi-
ty.”

There may be excep-
tions; but does not every
citizen of every CARICOM
country regard himself or
herself as a Caribbean per-
son — not first and fore-
most, of course, but after
his or her national “identi-
ty” -— amember of the
society we call “West Indi-
an.” There may be grous-
es, even anger, at not being
treated “properly” — espe-
cially at immigration coun-
ters — but that is because as
“West Indians” we expect
to be treated better. Our
anger hinges not on the
absence of identity but on
its assumed reality; on the
conviction that our com-
mon identity is not a garb
we wear outside but shed
when we come home.

Identity

Just recently, we lost one
of the Caribbean's most
illustrious sons — an “incan-
descent eagle” I called him.
The whole Caribbean
mourned him. And West
Indian diasporas — not just
Jamaican — mourned Rex
Nettleford as a Caribbean
person. We groan together
when West Indian cricket
grovels; and jump together
when it triumphs. What is
all this but identity?

It is not an identity crisis
that we face. We know we
are a family. But our fami-
ly values are less sturdy
than they should be — those
values that should move
regional unity from rhetoric
to reality; should make
integration an intuitive
process and the CSME a
natural bonding. Until we
live by these values so that
all the family prospers, we
degrade that identity.

We are also failing to
fulfil the promise we once
held out of being a light in
the darkness of the devel-
oping world. Our regional-
ism inspired many in the
South who also aspired to
strength through unity. We
have all but withdrawn
from these roles, and in
some areas like the EPA
with Europe we have for-
saken our brothers in the
South.

Recently, the former
President of Tanzania, Ben
Mkapa, who was our broth-
er in arms in the North-
South arena, was warning
Africa against the same
EPA of which we have
made Europe such a gift.
We have lost solidarity not
only with ourselves, but
collectively with our broth-
ers in the developing world.

And, perhaps, therein
lies the “rub.” Were we
making a reality of our own
regional unity we would
not be false to ourselves
and to others who look to
us for a vision of the future.
Instead, we are losing our
way both at home and
abroad.

(The second part of this
two-part series will be pub-
lished tomorrow).

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



i. Reluied party crankections

Total accounts recelvable declude S49 427 (2008 - §6.074) due from related parties Aa of
Tescemier 31, 2000, fees bdlled in advance includes 52.343 (2008 - $174,585) meecived from on
afilieied Ceespany umier the bem of the Adhinistrative Service Agreement with the affilisind
‘Company.

Persie

The Company portacipales in a nom-coninbuiory defined combution group pension plan Ger clipihke
employees. The Company's hability is restricted 1 the aterm of die Gontratartion

Geagraphical analysis af asiete and liabilities
The Companys aasets and lishilities werg concentrated in the following geographic location:
Ti:

Assets
§ Taos?

& L001 cel

DMB:

Asset:
Balunias
Linki lsties;
Falwmag. 1L01 064
Sexi trerkaned apd 57
7 1525261

T.0R Aas

Miarturtty af flnancial seoets andl Mb ities

The munities of fimaneial aeesets are lisbilimes ore curried! a4 [ollorms:

Agsoeta:
Ca anil dae deposits c 31126
Tine deyasit — alTiliate
Accounts recervable net

accrued liahilitios 357,18)
Due to atfilianes PSO bs
__ ‘Other liabilities 4, Sb}
532,209

Acme:
Crsh and demand. deposits
Time deposit — alibi
Accents receivable, net

Apoouris pawnbic ared
aoonied liahilitice _ J
Due io affiliates a ATE 07S
‘Ober eablhsea : 10, CoS
LOse 27

LiL Pair vale ieforma tin

The canrying values of fimanoia! dnetrusents appricicerts their Gair rakers due to their short-term bo
TTLALLiF at p'.

Li. Risk Management

The Company's inicting acivilies expose it to varices types of risk that are ssociated with the
financial Tetromests and markets im whieh it ives. The seal important (pes of financaal rik te
which the Compemy id expoand are merket osk, credit nak and Liquidity risk.

The retire and extent of the finanohal instrament culvlandisg af the reporting date and the risk
TMA policies emipleyed by the Compacry are dieciumssd below,

fan) Advert Mask

Pariet risk is chet fale hed futere changes m merket condiinens may make so ineroment less
valuable or more onerous. Market risk embodies the potential for bed loses and pains and inches
[irises Wisk, Peres pale rig anu! currency risk.

Orie FL

Prise migk it Whe risk thal te value of an inssumen wall Qouctesle as a resol of changes in market
Pricgs, whether caused by factors specific to om individual iwesiment, @ idauer or all facies
affecting al instraments traded in. the gaarket.

Ag the Company's Ginancel instruments are not subject io price charges, the Company is sat
expoced to price risk on its financial imtrumerta.

Faterer! rate risk

Interes!-bearing financal assets and inierest-bearing financtal lisbilities mevtere in the shoettens, no
longer than one maonth from the repieting die. Aa a reve, che Ceampany is eahject io lonited
exposure bp interest mabe risk doe to fuctuations m the prewailing levels of market interest rates.

Tienes) pahe pelt positions ape fecniloered by reagent, which eas lime deposita be meme the
overall position ankenp from Ube Company's non-treding activities.

Seveittally analysts

Aun inert im market interest retes by an average of LO) besis: points (bp) for the nest twelve
months [assaming a constant financial position) would increase equity and met income bby
appremimabely $70,730 (Me - 971250) A decrees inomarket interest rates by an everape of 100 be
for the next twelve months wooed have he equal bot opposte effect on equity and net income,
mesuming that other vanabkes remain pont.

Corrency rik

The Camipany nia ive at Geil insurers eee ooler ie boreections deneminaied in
currencies other than itt fimenonal comency. Consequently, the Company may al Gimes be exposed
bo risks that the exchemge pre of the: currency relatives to other foreign cerrenmes may change in
manner that hes am adwerse adfset on the value of that portion of the Companys msets or liabilities
denominated i curencies other than United States dollars. Substantially all of the Company's assets
and lisbahties ace denomoimeted in United States dollan. Accordingly, there is. minimal foreign
Gureey capoeure af dhe reporting dite.

hy Credin tek

‘Credit risk is the risk that a cousterparty to a financial imstroment will fail to discharge an obligation
er commitment that @ bes entered into with the Company, The Group's oredit policy is alan
applicable for the Company and the expasere to credet risk & mondtioeed off an tepeemp beerin

The mein amoont of credit eqposane is represented by the Gerying amounts of the assets on the
shaiement of (inaieied pareitiee

Conseninaliins of credit rod thet arise from fimamcial instranienis exist for groups of coonierparties
when they have similar economed characteristics thal would cause Geir ability to meet contractual
obligations: 86 be similarly affected by changes in economic or other conditions. The Company
Tinttors conceninions of risk by mecgrapiie: kacalion, af disclosed in note &.

fe} Siqualty nist
Liquidity risk is the risk that the Company nay encousber difficulty im meeting obligations from its
francial hiahilitie, Metunty infonmanon is diecleend in note 9,
12. Capital Managemen
There were no changes in the Company's approach to capital management during the year

The Central Haak of the Baharead equi: all financial institutions: io maintain a capital adequacy
ratio of at least & percent at afl tines. The aati: capital fer licenses trast companies is
$1,000,000, The capital mbapum-y cation is cabculated by dividing the Company's eligitte captial becs:
by its risk-weighted exgosuecs. The Company uses repelatory guidelines as the basis for the
ealoelation of the matic.

At December 3]. 2004and 2008, management belicecs the Company was in complianoe with capital
Peajuircsecrile,
us of Dasoember 3], D004, due Bankt’s eligible capital ii aa follina:

Ther 1 capital

Share capital
Aublitigreal perid-in capital
Retained eamings

| 00K O00)
LaLa

L O00
LOO
a1 6 41330

Total Eligable Capital __ §§ 6351908 4,303,614
Pisk-orsighina assets ee ROU 296

Capital ratios
Total regukviocy capital expressed 2x a percentage of

THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 11

LOCAL NEWS



First Grand Bahama
Agri-Business Expo
officially opened

MM Minister of National Insurance and Housing Kenneth Russell opens event
HB Locally grown vegetables, fruits, root crop, fish and handicrafts displayed
M5 ,000-plus acres of farm land conveyed so far to Grand Bahamians







KENNETH RUSSELL, Minister of National Insurance and Housing, and Edison Key, BAIC executive
chairman, pictured at the expo.

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - More than
5,000 acres of farm land
have been conveyed to
Grand Bahamians, it was
revealed on Friday during
the opening of the first
Grand Bahama Agri-Busi-
ness Expo.

Kenneth Russell, Minis-
ter of National Insurance
and Housing, officially
opened the expo on behalf
of Agriculture Minister Lar-
ry Cartwright.

Locally grown vegetables,
fruits and root crops, as well
as livestock, poultry, fish and
handicrafts were on display
at the Farmer’s Market site
at Goombay Park.

The Agri-Business Expo
was hosted by the Bahamas
Agricultural and Industrial
Corporation.

Edison Key, BAIC exec-
utive chairman, said he was
extremely impressed by the
quality of the produce
grown in Grand Bahama.

For the first time this year,
the expo was held outside
of New Providence in sev-
eral Family Islands, includ-
ing Eleuthera, Long Island,
Exuma, Cat Island, North
Andros, Mangrove Cay,
South Andros, Abaco and
Grand Bahama.

Mr Russell noted that the
government is doing its part
to promote, encourage and
stimulate the agriculture,
fishing and agri-business sec-
tors in an effort to enhance
food security.

He stated that 10,542

“It is hoped that
through this
programme, we
can nurture
minds that would
have even greater
vision for the
agriculture
industry in
Grand Bahama.”



Edison Key

acres of land have been pre-
served on Grand Bahama
for agricultural use.

Mr Russell reported that
5,366 acres have been con-
veyed to Grand Bahamians
so far, leaving just over 5,000
acres remaining.

He said that government
has allotted $15,000 for land
clearing purposes in the
2009/2010 budget.

Resource

“There are only two more
months left to tap into this
resource within the current
budgetary period,” said the
minister.

Minister Russell said gov-
ernment is strongly commit-
ted to the growth and devel-
opment of agriculture and
marine resources.

He said initiatives have
been put in place to provide
support and encouragement
to these sectors.

Mr Russell noted that
there are now closed sea-
sons on lobster, grouper and
stone crab, and that the pro-
gramme which allows regis-
tered farmers to buy sup-
plies from New Providence
on credit is going extremely
well.

“A total of 225 persons
throughout the Bahamas
have availed themselves of
this opportunity.

“This facility is also open
to you here in Grand
Bahama,” Mr Russell said.

He noted that several
backyard farming projects
have been launched and
have attracted strong sup-
port.

BAIC boss Edison Key
said increasing the involve-
ment of young Bahamians
in agriculture is critical for
the sustainability and future
growth of the industry.

The corporation has
donated four greenhouses
and made contributions of
cash and farming supplies to
schools in Grand Bahama,
including Eight Mile Rock
High, the Beacon School,
Jack Hayward High and St
Georges High.

“It is hoped that through
this programme, we can nur-
ture minds that would have
even greater vision for the
agriculture industry in
Grand Bahama,” said Mr
Key.

He said government has
been in discussion with the
Grand Bahama Port
Authority about developing
a further 500 acres of farm
land in Freeport.



a ¥



ll,







beta] risk-weipbted meats



KENNETH RUSSELL, Minister of National Insurance and Housing, and Edison Key, BAIC executive
chairman, pictured looking at some of the products. Locally grown vegetables, fruits and root crops,
as well as livestock, poultry, fish and handicrafts were displayed at the Farmer’s Market site at Goom-
bay Park.



The Homgkomg and Shanghai Banking Corporation Limited
Jecorperated in wie flog Alon SOLA wit Meee! fiobility
Mead Office: J Chee ’s toad Coumal, Heng Kong

Consolidated S4atement of Financial Position at 31 December Die

HKSm HK

ASSEDS
(Cash andi short-benm funds
lems in the come of collection from other banks
Alacings with banks maturing afer om month
‘Certificites of depaail
Hong Kop SAR Cowennent cerilicanes of

inde binds 15414
Uriding assets S22, 7351
Financial assets designated at faur vahoe 48.087
Derivatives 4IT1
Adhere fo Guskimers 144
Financial ines 2 6A
Jumownns due frome group companies 194.511
Lewes Bt OeCeS od poet wenture 50.083
Concdewilll and fmmangible mesets 239 16,081
Property, plant end eqn M327 5,585
Deferred tax. assets 28 1.609
Buclirerrest Perret aeeacty: 292 a4
Oher asset 61258 TG |
Total assets ai 703 4260156

H92,175
13,538
107,070
37,588

597,572
[3,049
45,569
S7\078

LLo,024
495,670
40,553
453,923
1.286, 145
46, 11
2M 662
40,250

LIABILITIES

Hong Kong SAR curacy mated in cerceblion
Dieses mm the course Of bets ee to Ghee bens
Degosirs by hanks

Customer acocumcs

Trading listilities

Financial leabilites desgnated ot fair value 7
Derivatives ExL Sa Sth il
Theht secerilics in ae ah be +E aK)
Retirement benetic liabilities 32 TAG
ASUS due to group companies SL e42 $1244
Other liabilities and provisions 55 a] £319
Liabilities under irearanoe contracts issued 144,975 L451
Current tax lisbalities a1iF F270
Deferred tax liabilities 7 ke 4433
Suberlinated liatilities £1,181 13,184
Preference: shares. 101, Dice Qz ETO
Total hinbilities 470,78 4,033,870

125414
TL Gib
112i
2,004 59
150308
Sh, Tie

119,004
21,4394
Pah
2,376
210587
Y526

EQUITY
Share cagutal Brana |
Oiler reserve 7a, 213
Retamted protics 139,231
Proposed fourth interim dividend HAsO
Total sharchealders’ mquity 245,788
Painority imerests 24,09
Tetall eqperiny ___ EM, FET
Total equity and liabilities ASMA

Secretary
Ml Seales
| lasek: 2010

Duran

Michael F Geoghegan
Alexander A Plockhart
Peter TS Wong

Consolidated Income Siateapend for the your ended 31 December 2008

Dn Did
HESm HKim

Iierest Income
Interest expense
Met imperest iniscwre
Feo come
Fee cupense
Met fee income 27a
Poet bepediomge inicsnemaz REI G
Met ice! [ loss) from financial merumencs designated al fir value 7254 Choe)
Cigens: fess losses from financial investenents: tin) (2.976)
Dividend inseme Sid a2
Met carted inane pronames 31,3945 26,866
Cither operating income ; 72K 4,076
Total Opting incom 1545581 139,05]
Met insurance claims incurred and moment i policyholders"

lintalities (14.787)

L24,3e4

S2ob
_ (24,119)

RADE

35.583
15 M5)

125404
(56,819)
e045
47,751
(694)
30,767
21,383

(7030)
Net operating iscome before loan impairment charges ame olber
ercdit risk previsiona Hi8, 25
_ (11.235)
107,005
(25.585)
(19527) (260)
(2a) (2, 60%)
(1,177) (Haz)

Lown impairment charges and other credit risk provisions
Net operatiog iaeome

Employee compensation and benelies

‘Ccneral aed] acmanistralive expenses

Depeaciation of property, plamt and equipment
Aronian of intangible asus

Total operating expenses (2,195) (a3, 281
‘Operating profit 5A e22 a
Share of profit in associaies and joint ventures ___ ara T.ea4
Profit before tax | ST .6a)
Tak expense (11919 (12,71
Predit for the year seat ee

(12, 00)
[D224
(28,132)

Poof! attnbulable to shareholders 4508 50,308
Peofil aitibutable io minority inerests 456 4,074

Sana

= Statement to the directors of The Hongkowg and Shanghai Banking Corporation
i

We have audited the accounts of The Hongbong and Shanghai Banking Corporation Limited for
the your ended 31 Deeember 2009, from which the summarised financial information set out
bhowe hus been extracted, in secordance with Hong Keng Standards of Auditing issued by the
Hong Kong Institute of Certified Public Accountants, In our repart dated 1 March 2010 we
exprogeod an onqualified opinion on these acount.

In cur opinion, the summariged financial information above is consistent, in all material
respects, WIth Che accounts from which it was extracted,

The summarised financial informetion does not comstirute the Bank's stututery scoaunts for the
year ended 31 Deccmber 2009. Fora better understanding of the Bank's financial position are
ihe resulls oF its operations for the year and of the scape of car audit, the summarised financial
Itormation should be read in conjunction with the accounts from which the summarised
Financial information was extracted and our audit report thereon.

K€

Certified Public Aceaiimtants

&ih Floor, Prince's Buikling,
10 Chater Read
Central

PAGE 12, TUESDAY, MAY 4, 2010

THE TRIBUNE



LOCAL NEWS

~—) na

i x i ne 5



iii 9
MEMBERS OF THE LADIES IN WHITE opposition group pray and protest outside Santa Rita church after
marching in Havana, Sunday, May 2, 2010. Cuba has allowed the organization of wives and mothers of jailed
opposition activists to hold a protest march after the country's top Roman Catholic clergyman negotiated
with authorities, ending three weeks of confrontations. (AP)

Cuban opposition allowed
to hold protest march

HAVANA

CUBA allowed a small
group of dissidents to hold a
protest march on Sunday after
the country's top Roman
Catholic clergyman negotiated
with authorities, ending three
straight weeks of ugly con-
frontations, according to Asso-
ciated Press.

The government's decision
was a victory for the Damas de
Blanco — or Ladies in White
— who had marched peaceful-
ly and with little fanfare down
Havana's Quinta Avenida
boulevard for seven years
before the government sud-
denly forbade the protests on
April 11. The group is com-
prised of the wives and mothers
of some 75 dissidents jailed in a
2003 crackdown, as well as sup-
porters who joined them later.

Sunday's march followed a
Mass at Santa Rita de Casia
Church presided over by Car-
dinal Jaime Ortega, who told
parishioners, including 13
Damas, that he had intervened
with authorities to allow the
women to resume their small
protests.

Ortega said he assured
authorities that the Damas
would not try to expand their
activities, but would return to
their normal Sunday routine.

"T gave a sort of guarantee
that they are going to do what
they have always done," and
no more, the cardinal told
reporters.

CREDIT SUISSE

The government's unusual
decision to negotiate, he said,
"is a slightly new way of act-
ing. Before, one was answered
with silence. Now, we have an
answer."

Laura Pollan, the Damas'
leader, said authorities have
agreed to let the women march
during the month of May, and
will review their decision after
that.

"For us, it is a little victory,"
Pollan said after the march.
"We feel partially satisfied
because we don't have to ask
for permission and we are going
to continue marching. But we
will be most satisfied only when
our relatives are freed."

No reason was given for the
government's about-face, just
as no reason was given for the
decision to stop the protests in
April.

Ortega did not say which
official he had talked with, but
the clergyman's intervention
clearly worked.

On the past three weekends,
as the women emerged from
church, waiting Cuban officials
told them not to march and
crowds of pro-government
counter-protesters surrounded
them. Last weekend, the
Damas stood under a large
ficus tree for seven hours while
the counter-protesters
screamed at them.

Cuba says the counter-
protests occur spontaneously
due to islanders’ hatred of the
opposition, but little effort is

made to hide coordination
between state agents and the
crowd.

Cuba's human rights record
has been in the spotlight since
the Feb. 23 death of a dissident
hunger striker. In March, the
Damas broke their routine of
weekly protests with seven
straight days of marches in var-
ious locations in Havana. Hun-
dreds of shouting pro-govern-
ment demonstrators turned out
at each of the marches and
security agents forcefully bun-
dled the women into a bus
when they refused to stop one
of the protests.

Cuban officials denounced
the sudden media attention as
part of a global campaign
against the island directed by
Washington. The government
considers the opposition,
including the Damas, to be paid
mercenaries and common crim-
inals.

Ortega recently said in an
April interview with a church
magazine that Cuba is in a deep
crisis and that its people are
hungry for political and eco-
nomic changes sooner rather
than later.

He said Sunday the Damas’
need to march was "very under-
standable and very human."

"These women are fighting
for the freedom of their hus-
bands and relatives," he said.
"No matter their cause, I think
that they are people that merit
respect and special considera-
tion.”

Credit Suisse AG, Nassau Branch

Private Banking

is presently considering applications for a
RELATIONSHIP MANAGER - EUROPEAN DESK

The Private Banking Business Area is accepting applications for a Relationship
Manager, covering the European Market:

Duties will include:

Acquisition and development of new offshore European based clients
Marketing of estate planning, private banking and portfolio management
services to prospective clianis along with additional services, such as, ihe
Sél-Lip of Companies and trusts together with administrative procedures

Advising clients on products, services and investment opportunities

Management of anoountsirelationships with clients originating fram Europe

Requirements:

Apolicants should possess a University Degree (or equivalent) in Banking &

Finance

Al leaat seven (7) years banking experience including relationship
management, trading, trade reconciliation, custody business and securities

markets

Marketing experience throughout Europe
Musi have established intemational client base with assets under management
In excess of USS100 Mic and a well developed network within the market

regions

Strong communication skills in Engli¢h and working knowledge of French,
German and tlalian is a requirement to facilitate marketing and relationship
management with clients and prospects

Good computer skills (Word, Excel, Power Point, Quilook & Bloornberg)
Willing ta travel extensively throughout Europe and utilize a network of
existing contacts and associates

Personal Qualities:

A conimilnent to service excellence
Ability to work under pressure and with minimum supervision

Excellent organizational and interpersonal skills
Ability to work Independently

Heng Kong

24 April 2010

Amaual Report ond Accoumls

Benefits provided include:
- Competitive salary and benefits

The caescliduied balance sheet and the consolidated Income statement printed wbowe are ewtmocied from
ihe 20H) Annual Report and Accounts of The Hongkong and Shanghai Bankieg Corporation Limited.
Copies of the 2008 Anneal Report and Accounts are available on request fieea The Hongkong and
Shanghai Banking Corporation Limited, Suite 306, Centre of Commerce, One Hay Street, FO. Baw Me
4917, Macsau, Bahamas Tel: (242) 502-2535.

Applications should be submitted to:
Human Resources Department
P.O, Box N-4928
Nassau, Bahamas
or via fax 356-6148

HSBC €&>

The workd's local bank

DEADLINE FOR RECEIPT OF APPLICATIONS IS: MAY 12, 2010





THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 13



LOCAL NEWS

© 70
Caribbean businesses invited to explore trade opportunities in US

BRIDGETOWN, BARBA-
DOS - Regional businesses
wanting to form solid relation-
ships with US buyers and sup-
pliers will be given the chance
to do so when a contingent from
the Caribbean participates in the
2010 TradeUSA mission to
Florida.

Representatives of various
US companies will be in Florida
between June 27 and July 1 to
meet with their Caribbean coun-
terparts in the host cities of Dor-
val and Hollywood. Conceptu-

alised by the Florida Foreign
Trade Association (FFTA), an
incorporated, non-profit organi-
sation, the Caribbean series of
trade missions began in 2007
through the US Commercial
Service and has met significant
success.

Participants in past missions
have said that the meetings
“exceeded expectations.”
Before leaving to go on the mis-
sions, they set out precise speci-
fications in terms of the types of
meetings they wanted to have

and in most cases the US com-
panies brought more to the table
than was requested.

In addition, the regional busi-
nesses were given the opportu-
nity to meet representatives from
national chains.

According to Malcolm Wood
of Coral Spring Vinters Ltd.,
who attended the 2008 Mission,
the trip was worth every penny
he invested.

“The strength of the mission
was, that it allowed me to tailor
the programme to meet my spe-

BABE OP AMINA TR UT AST BANS G iMAC ATION (BAAS) LMI

STATEMENT OF PIM AS CUAL IMSS

Ciepressed if. United States dollars)

ASSETS
Laat and ie fom banks (Minter 2 and 5)

Deiaadl ~ ies
Dimes - Coreg:
ACTS! idee eeceteah be are oder iimeete ~ Cirup:

Total ase

LIARILIMES
Acoma enpeniied and other liphileies = Crus

EXUITY
Shere capital (Mota T]
fuiboromal, jtd and folly paid:
L000 dares of TU). each and
10,000, 000 shares of L100 each
Reained simings

Total expity

Total Habits eed expiry

Signed an apgved on bekalf of tie Beard of Uirearora:

December i),
Aly

et ns Ba Oe
Lie?2071 1) 5 2
—jA i —limet
PLATS FLL
—ie JL
1 On OT 1000) tp
—ao LOLS
LLSS AZOLE

$a 7e $09 113

BANE OP AMERICA TRUST AND RANKING CORPORATION (2 AHARLAS) LIMITED

SOTES Th THE STATEMENT CHF FINAN CLAL POSITION
DEC RMB 31, oo

L 3 ‘at

Henk of America Trast and Bantieg Compenidicn (Beharrea) Loree (ike Hank" is incorporssed under the laws of
the Commenseeaith of The Maher, The Bank bo wholly-caned subiidiary af Bark of America Intermortonal
Pisce Coperaion MBIPO") a company eegiticesd in North Cancling 05.4, ehich i a Himately wiollycuned by

Bani of Aumericn Conponation.

On Desctriber (2, 005, interest in the Rank was transfered @ BIFC from Bank of America lalding Company 5.4

[apes 45 part of a reorgenizadion peocem}, Eumk of America Comporation i a bank holding company
oo peiicd on Delawcre |[Liniied Ses of ATE) Whee cxecetive nefices om lecoied in Charioge, Hoth

Lanhn

The Biank’s pegiatcred offer is leceted of Dotierfield Bank (Hahanias) Limited, Pa) Hex M-1243, Masswu, The

Ads The megerity of tha transactions comfucted by tha Bank are conducted by United Srates dollar, the reporting
Forency oi the financial Wiferecnis i United Sises dollars redher than the local currency of te Commeanwealtn of

This Baharia.
he Bank ceased operation: a@iective Kivesanser 2%, [O00

Gurigh the Strlior of the Mowk's ultimate wind op dade on December
Bienk be eound-up and lguidated by December 31, 201

Ls Summary ef aignificand aeceunting policies

Basis of preparation

Pha Tard il podtigoe i held o ecetricied ico:
31, 2010. 1 id tanagemcat's intention ches the

Bank is mdexgoing am erderhy wied dewn of ie operations (co: Note |) are Because there is ne feria
‘ine in ie a bec bash as applied ure: Intemational Financial Reportmg Slandards
(SURRE*} on a going coscern basis and ax weukl apply under a (iquadation basis, management does ni comaider il

cific needs... I was able to meet
supplier and buyers specific to
my industry (some coming in
from as far as New York),” Mr
Wood said.

“The organization and exe-
cution of the mission ... was
seamless ... the FFTA staff
were knowledgeable, accommo-
dating and thorough ... (and)
timelines were met, communi-
cation facilities were available,
transportation and accommoda-
tion was excellent,” he added.

Because the FFTA represents

the most diverse group of indi-
viduals and companies in the for-
eign trade market, companies
from the Caribbean attending
this year’s mission will benefit
from meetings with deliberately
matched, qualified leads.

There will be possibilities for
negotiating reduced prices
directly with suppliers and the
expectation is that, just like in
the past, offers will be made and
opportunities will present them-
selves.

Another participant from the

2008 Trade Mission was Mar-
garet Lovemore of Lovemore
Juices, who was very excited to
meet representatives from a
leading price club who indicated
interest in her line of fruit juices.

The FFTA’s regional partner
since 2008 is GlobalHandShake,
a privately run company whose
sole mission is to facilitate cross-
border opportunities. The timing
of the mission is perfect given
the recent forecasts that the eco-
nomic recession will begin to lift
by year end.

Significandy all agers aed linbdhtor: ane denomineted in. Lineted Sivies dollars amd ai December 3], 3005 and
December 31, io all of che time deposits and all of the cash on demand were placed with Bark of Asierica, NA.,
Lomdon and North Carolina baanches.

Pair value of financial imstracieaes ined Pmanctal risk Mame pe men

The (Hank's finwacial intrements are abort cermin mature andl ane compren af deposits, cash and wiher leqoid
resources, Accordinghy, ihe eaimuted tair value is mot significantly different Grom the carryiag value for cach major
emegery of the Bank's financial anecti aad liabilriers

rise arising froen the Faeik’s financial instremests is ceedin cick. (Coeche ris is the risk thet a counkerparty
wl be witb or eating to meet a commitment thet 7 bo entered Into wah the Bank. The Bank's main
exporene ts eredit risk in the went the counlerpartios fail in perform their obligations al December 31, SMrP aad
December 71, 2008 in relation each class of recogreed financial aaiets, Is tae canrymg aunt of this: acta ad
indicred in che itatemem of financtl pecition. The Dank manages credit risk assccutied with depos assets bry
making placements primarily within the Henk of Ameren grep.

Liquidity rick in the eisk that che Donk will encounter difficulty in realizing msels and otherwise raking funds io
meet commilments. Interest reve risk im the risk that arises where there is an lebalance between rite ated non rate
sensitive sascla and Uahilickes ‘The Besnk bas 0 material exposure 6 either of these risks at Doorrmber 31, 2009 ard
Tecember 71, 2008, aitheugh the Dank is abject io declines in ieleredt insome should intercel sales 2omtinue to

decline.

i, Pain

The Buck's obisctiee when managing capinel, which isa broader condepe chan ‘equity’ om the Geos of the statement
of firaecial position, is in comply with the capital requirements sci by the Cenmal Blank of The Bahoras ithe
eréral Hank") theough to the date of the wareender of the Bank's nosnac.

Capital adequacy aad the use of regulatory capital are monitored by the Bask's rasepernent, ermeplirying:, Lecleadques
designed tn ermure compliance with guidelines eaubliched by the Central Aare

The Central Bank requires. cach entity wih a peblic bank and trust lence 6 maintain o ratio of total regulatory
capital to risk-welghied avers al er abort a minima of 8%

The tate below summarises the compesition of regulatory capital and shows the capiial adequacy ratio of te Bonk
as of the siement of financial position dave. During 2009 and 2006, che Bank has complied with all off the
ficraally impoaed capétel nequirementa fo which i was subject,

204 2a
q 5
Tier | cupatal
Shave capdial LL ote 11 oo
Retained earreangs TL LOLs
Total 1 Tho 12011103
Rikeweighted asots: 134M 2391 Iz
Capital adequacy mitio S0l% U2
Feed fei tie ogee
Prrvidttae Home
Beet Hill faeen
P.O. Bes KIO
Bm, Habarrsri

Bernd pret ee pas co
Telephone (Ct) Bee

i ialath 1 1 [finance position bas
ine to adopt: the lnqoidation bawia of ecoounting. Accordingly, the Bank's Fiabeescht a
eel in cmaforuty with IFRS oa goiag concen boa and ta stated in Lineterd States dollars

This matemert of financial peat bos been prepared under thr himerioal cont convention and in acoordance with
JERS. The preparation of w statement of finmecial position in conftematy mith [PRES required matagerent in make

eatieutes and gasurnptions chat affect the reported amounts of asec: and Uabibtees and discleure of conmmpcat
ares ail Habilities af the sutement of financial peaiten date, Actual rewelts could differ from thise estimates,

Reievant siasdards ond amendncets i existing stamlards effective January 1, 2009,
‘The Company has adopted the following new and amended IFRSs.a5 of loruary 1, 20S:
LAS 1 (revised) ‘Presentation of finameial statemente’ — 2fSective | Femeeary 2000. The revieed standard peeltibus the
presmistion ef tems of income atl expenses [that is, “non-ener Changes in equity | ta the saterment of changes: in
equity, requrig ‘nenewner changes if equity’ oo be presented separainly from. cemer changes in cqsity im &
siiement of comprehensive income. Aa a pevelt the Company peesents in the nla lene i of champes in equity all
cemer changes in equity, whereas all nen-vewer changes in equity ine presented in dhe stalemnent of comprehensive
lace, Comparative iafermation has been re-presented en chal alba is in confonmaty with the revised stondand.

i i hat became effective fre fiscal
The remaining siandards and amencments aad iaterpreione: to peblidied samiderde | i
pesieds beginning on of after | Janmeary UO wee mot relevant to The Bank's operations aad) wccordingly did net
impact the Hank's accouating policies of ttaiement of fisancial pomtinm

The: application of new stank and gered rreccin sad! Geerpretations do exciling standards that have been publehed
but ace not pet effective are net expected te have a oumlcrial impact on the Bank's accounting paliciea o@ financial
datemonia in te period off initial application.

The follrvang id a somememy of the material accounting pobre

Cath aad due free hooks

Cash ared dive frome bers inclodes cash and shert-lerm investments in fied deposits with original maturities of three
foils of leas

Accrued expenses and othe liabilities

Lanbilicie: classified aa accounts payable and wocrued lisbelities arc eared at cost which ia the fier value of the
connideealion to be perid in the fonure for goods andl services vecetved.

Share capital
Ordinary share capital is recognized at par value

Jools cider mana persat
Test were nn assets oe liabilities beimg admmanimered by the Hank as custodian, esier or nemiiaee for the years
creed Deceatber 31, S0FF and 208.

3,__Eielased party tramsect lone

A porton of the adminisrative aed gener expesscs of the Bank have been Bome by other grup coeepeanics during,
the period

Fall atte lai

The following, is an analyois of significant aeects ead bebilities based on the period remaining in maturity as of the
dalemest of Gaancel postion che:

Auwerage
Up ta 31 na ol ie Interesl
Mins a des LEG day Total __Furte,
December 3-1, 2005
Fused
Cash and due fron banks See Fs Ls | Ae li
Tecember 31, 2008:
Auoci
‘Cah and duc: fom banks LEDS) | is SLE LF ath

| Welle war pen

Pacoormde C42) 903-454

INDEPENDENT. ALI ORS" REPORT

Wwe hawe andited the aacompaying saiement of fmancial peoilion of Bank of America [resi aul Pandit,
Comporstion (Eahamas) Limited {ihe "Bank"â„¢) a5 of December #1, 200% and a summary of significant acccamling
policies and other explanatory notes.

Afonugimen 9) Reqponclbvuy for tbe Foner! Staten

Wimapement ia resporaible for the peeparation and Tair preuentation of this statement of fiaancial position in
accordance with Intemational Finacial Reporting Standards. This respossibility includes: designing, implementing
and muintzining intemal central relevant to the preparetion and fair presentation of financial statements thet are free
iron material mbsistement, whether due lo fraud or ereor; selecting and applying appropriate eccounting policies;
ard uukiing accounting estimeries thal are roamenable in the circumerances

doalifives "Alison (blige

Che responsibility is to express an opimioe oe this sulement of financial position based on eur aindiL We conducted
wer adil ia accordance with Intecretinal Standaeds on Auditing. Those standards reqeie that we comply with
ethical reyainstients and plan and perioem dae oacht to chiain reascaabbe assarance whether the wlaiemest of
Gane! paditian 1a free Groen material misrasement

Ag gedit inentecs performing procedures to abtvin gedit ewidemce about the amount and dischsenes in the financal
staltments. The peoosdures selecied depend on the audiices' judgieal, including the assessment of the rises of
maternal micitalemest of the fimancial statements, whether due io fraud er ere. In making those rick assesment,
the audios comader istereal centred relevant to the entity's preparsten and Gair presentation of the fancel
sgiemenis in ender te design wudir procedures that ae approprigic in the cireumlinocs, bul pot Boe the purpose of
aupreseng an opimedn oot the effsetivescss of the entity's iniemal conéel As audit who includes evaluating the
Ippropnatenes: of accounting policics uted and the peasonatlenes: of accountmg cotimetcs meade by mangement,
a5 welll as evalosting the everall pecsentation of the financial statements

We believe that the audit cwidenos we have obtained is cafTiient and approprate in penvide 2 besia Ger cur wudin
piri.

Onion

Le wer opinion, the accompanying staiement of fircancial pion pecseens fairly, in wll material respects, the
Gaanctal pooition. of the Bank as of Chpopeebser 30, 202, in accordance woh Intemational Financial Reporting
Sudands.

Era of dewcrs

Witheet qualifying our opiaion we draw amention to Migs | to the siaiement of financial postion As explained
thenen, proceedings have commenced which will ukimately lead 9 the voluntary liquicktion of the Hank.

We wn emphasine that the accompanying atalemea! of Tinwaclal position does mot compeise a complete oct of
financial sistements mm accordance ‘with Intentional Fiaancial Reporting Sundards, Information on results of
operons, cach flows and changes. in cquily i secesiary te obtain a complete undersamdmg of the financial
Pn, perenne gad changes nm firancial postion of Bask of Agere Trom and Barking Cnocporation
(Bahaaaas | Lirined.

Chartered Accrmssnts
Sanu, Bahamas

April 27, 2018

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



THE TRIBUNE

13, Financial risk management fcantinnedts

Foreien currency nik

Foreign currency isk is the risk that the value of a financial instrument will Quciuaie because
of changes in foragn cachange rates, The Hank's foreign exchange exposure arses from
providing services to-customers. The Bank's policy is to hedge against foreign exchange rinks
by matching currescy lighililies with cumency aes. Cunency exposure is monitored on a
daily basis and reviewed by management.

‘The currency exposure is stand below in SFr (in thousands;

Deere er 2, 20K;

Saw isa United States
Francs Eure dollars Oilers Total
O5877
RU, A327

13,325

4,731 93,797
14631 14, 4
1, WHE (2a 7)

453,017
BASSE
409

ii 12
26.251
(aH 50)

Fumeets
Lvaba lines

Decrmiasr 3, DIKE:

Swiss United! States

Fras: — Eure dodlars Others Total







4B AIG
23,408
22,84

62,452 128,26
68,275 121,01e

(2,823) 7248

27051
41343
(14292)

Asserts
| isbvilinies

Shh, 202

. (Caniilal tick nage ee

The Central Bank of the Bahamas requires oll public cargeries of Banks to malneain a
minimum capatal of ESS, 000000 and a capital adequacy rath of at keast & percent of risk

eligible capital base by its riskeweighted exposures. The Bank uses regulatory guidelines as
the basis for the calculation of he rato, There bawe been me material changes im the Hank's
management of capital during the year.
The Bank's ectusl capiinl ameund ond risk asset ratio at December 31, SKE) and 200K, os well
as the minimum regulatory requirements are as follows
ik 2
Minimum Acta hLininvam
requirement requirement

Actual

Capital CHE 22,726,364 5,168,670 LT AZT 269 5,321,990

Risk asset ratio lis 7%, 14% a,
_ooO-—>::??:? Ro —E—EOE———E—E2mq

1d. Capital management Scorned!

Banking operations are categorieed as either ining book or banking book and risk-weighted
assets are determina! scoording te specifed Teqjlwenents thm sack 1 reflect the wary [ih

levels of risk altached to assets and off-balance sheet exposures.

The Bonk"s policy is tbo maintain o strong capitol hase so ns to maininin investor, crediter and
re oneness dtl bo sustain Cutler dicho of ile basins. Tre ieapaeet of Ure bevel
of capaial om shareholder's return is also recognized amd the Hank reeognices the need to

mainldin a balce between the higher nebame thal might be possible with greater gearing and
the advantages and securiqy afforded bw a smind capital posirion

Phe Hank has complied with the pgulatory impeaed capital requirements chreughoas the

year.

TUESDAY, MAY 4, 2010, PAGE 17



Status of investigation
into allegations of money
laundering is unclear

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE status of local investigations into the
money laundering allegations made against
attorney Sidney Cambridge is unclear.

Statements released by Bahamian finan-
cial services regulators last year indicated they
would review the accusations to determine
whether or not a full blown investigation would
be undertaken.

Rowena Bethel, Executive Commissioner
at the Compliance Commission, said she would
review questions presented by The Tribune
to ensure any information disclosed did not
conflict with the confidentiality obligations
the Compliance Commission has to observe.

Attorney Lilly Ann Sanchez, who repre-
sents Mr Cambridge in Florida, said: “No
charges are being filed (in the Bahamas). The
Bahamian authorities have never, ever, ever
investigated or had any interest in filing any
kind of charges in this case at all.”

Last year, Bahamian financial services reg-
ulators released public statements indicating
they were reviewing the case because its sen-
sitive nature could “pose a potential threat” to
the integrity and reputation of the local finan-
cial services industry. The status of the review
is unclear.

The legal community was stunned last
November when Mr Cambridge was formally
indicted in a Florida court on one count of
conspiracy to commit money laundering and
five counts of money laundering. An arrest
warrant was issued for him at that time.

He did not go to the US to face charges,
and was declared a “fugitive from justice” by a
Florida judge.

His case file was “transferred to the sus-
pended/fugitive file until such time as he is
apprehended.” The judge also ordered the
Clerk of the Court to designate the file
“closed” for the time being in what has been
called a “routine” procedure.

Sources say Mr Cambridge, who is a prac-
tising attorney, is at Munroe and Associates
after resigning his post as an attorney and
partner with Callender’s & Co, and resigning
as treasurer of the Progressive Liberal Party

and the Bahamas Bar Association.

The Tribune was able to contact him at the
firm yesterday. He referred all comments to his
legal counsel Wayne Munroe, who is chief
partner at Munroe and Associates. Mr Munroe
could not be reached for comment.

US attorneys representing Mr Cambridge
said they are waiting for the United States
Attorneys’ Office to make its next move with
respect to a potential extradition request.

Ms Sanchez said nothing has happened since
she had initial conversations with attorneys
from the Florida Southern District of the US
Attorneys’ Office months ago. At that time
they stated their intention to request extradi-
tion.

“At this point there are no indications that
have been provided to myself or Mr Cam-
bridge on how they are going to proceed. The
US attorneys’ office has had no further con-
versations regarding the extradition. If they
are going to go forward and extradite at that
point we would resurrect the bond conversa-
tion,” she said.

After the initial extradition claim, Ms
Sanchez sought to negotiate a bond agree-
ment for Mr Cambridge that would allow him
to fly between South Florida and The Bahamas
where his wife and family live during the court
proceedings.

Ms Sanchez has previously said, her client
would “happily come to the United States at
the appropriate time under the appropriate
conditions and face the charges voluntarily.”

Mr Cambridge was co-accused with former
vice-mayor of Broward County and Broward
County Commissioner, Josephus Eggelleton,
along with Florida businessmen Ronald
Owens, and Joel Williams, who have all
appeared in Miami courts to answer to their
changes.

Two of the four defendants pleaded guilty to
charges filed against them. Mr Eggelletion
pleaded guilty to one count of conspiracy to
commit money laundering in December. Mr
Owens pleaded guilty in January and faces
sentencing in April.

The trial of Mr Williams was scheduled to
get under way yesterday. Mr Cambridge has
not been required to act as a witness for either
side.

CREDIT SUISSE

Credit Suisse AG, Nassau Branch

Private Banking
is presently considering applications for
BUSINESS DEVELOPMENT OFFICER - CENTRAL &
SOUTH AMERICAN DESK

The Private Banking Business Area is accepting applications for a Busaness
Development Officer covering Central and South Amarican Markets:

Applicanls should possess a University Degree (or equivalent) in Banking &
Finances|

Al least seven (7) years banking experience including relationship
Mmanagenent, irading, tage reconciliation, custocy business and secuntes
markets

Marketing experiance throughout Central and South America
Must have established international cient base wilh assets under management
in eacess of USS150 Mic and a well developed network within the market

Probe into killer tornado ordered

FROM page one

through the International
Labour Organisation (ILO),
will begin his investigation on
May 6.

The minister said: “Mr
Obadia, who has 30 years of
occupational safety and health
experience and expertise, will
conduct a fact finding mission
into all aspects of the events
surrounding the accident,
inclusive of interviewing those
persons involved in the acci-
dent, including emergency
response personnel.”

He said that after Mr Oba-
dia’s report has been com-
pleted it will be reviewed by
the government and made
public.

This comes just days after
Minister of State for Finance
Zhivargo Laing confirmed
that the government intends

to look into the safety con-
cerns of workers at the con-
tainer port.

He said inquiries will be
conducted "in the interest of
promoting worker safety at
the container port and any
industrial corporation in
Grand Bahama and the
Bahamas."

PLP MP Obie Wilchcombe
revealed that according to a
report he received, officials
at the nearby VOPAK oil
refinery had warned contain-
er port employees about the
tornado ahead of time.

The accuracy of this report
has yet to be verified, but Mr
Wilchcombe emphasised that
despite the lack of an official
tornado warning from the
Department of Meteorology,
the container port had a
responsibility to monitor the
weather independently.

F a

Denson ss



regions

Strang communication skills in Spanish’English is a raquirament to facilitate
marketing and relationship management with clients and prospects and a
third language would be beneficial

Good computer skills (Word, Exeel, Power Point, Qullook & Bloomberg}

Willing to travel extensively throughout Gantral and South America and utilize

a neiwork Of exishing comact and associates

Possess a confident and outgoing personality

Acquisition and development of new offshore Gentral and South American
based clients

Marketing of estalé planning, private banking and portiolia management
services to prospective clients along with additional services, such as, the
set-up of companies and trusts together with administrative procedures
Advising clients on products, services and investment opportunities
Management of accountsrelationships wilh clients originating from Central
and South America

Personal Qualities:
A. commilment io seanice excellance
Ability to work Linder pressure aind with minim supervision
Excellent organizational and interpersonal skills

" Ability to work independently

Police constable is
charged with murder

FROM page one

day. He was the country's 28th homicide vic-
tim.

Gibson, who was attached to the Wulff Road
Police Station, was not required to enter a
plea to the murder charge.

His attorney, Jomo Campbell, told the court
yesterday that his client had not yet been inter-
dicted and was still a member of the Royal
Bahamas Police Force.

He initially asked that Gibson be remand-
ed to Police Quarter guard. Mr Campbell
said that his client feared for his life and his

safety.

Inspector Clifford Daxon pointed out, how-
ever, that police usually wait until an officer is
charged before interdicting him.

Mr Campbell asked that his client not be
placed with the general prison population not-
ing that up to three weeks ago he had been
executing his duties as an officer.

Chief Magistrate Gomez ordered that Gib-
son be remanded to Her Majesty’s Prison and
said that he would request that prison offi-
cials place Gibson in his own cell or away from
the other inmates.

Gibson is expected back in court on May 12
in Court 6, Parliament Street.

Former St Augustine’s

* Competitive salary and benetits

APPUCATIONS MUST BE IN WAITING. Persons mat meeting ihe

Manin

apied.



Applications should ba submitted to:
Human Resources Department
PO. Bow N-4928
Nassau, Bahamas of via lax 356-8748

DEADLINE FOR RECEIPT OF APPLICATIONS IS: MAY 710, 2070



College headmaster dies

FROM page one

Augustine’s College in
December 1963 when the
late Very Rev Frederic
Frey, OSB resigned
because of ill-health.
During his three years as
headmaster, Father Bur-
ton developed and expand-
ed the facilities of the col-

lege and laid out plans for
future development.
Under his direction, new
classrooms were added
and for the first time in the
Bahamas he opened the
college to boarders in
1964.

Father Burton brought
22 years’ experience of
teaching in Catholic
schools in Mexico and

Latin America to his post
in the Bahamas.

Born in Minnesota,
Father Burton entered the
Benedictine Order in 1940
and was ordained a priest
in 1945.

His last assignment
before coming to the
Bahamas was as headmas-
ter of San Antonio Abad
in Puerto Rico.

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



PAGE 20, TUESDAY, MAY 4, 2010

Oil spill ‘may not
affect contemplation
of exploration

in the Bahamas’

FROM page one

with a well co-ordinated
response to spills is needed.

He continued: "We
haven't had an application
to drill an oil well, we had
applications to lease
(areas) for oil exploration.
Most of that is done on the
basis of digital mapping. So
I don't think it's warranted
to speculate to whether we
would (approve oil) drilling
or not,” Mr Deveaux told
The Tribune.

Opposition MP for Fox
Hill Fred Mitchell believes
the Gulf of Mexico spill
and others like it should be
heeded as warnings for the
Bahamas.

"This business of drilling
for oil as being a panacea
for all ills shows that there
are problems that come
with it. We have to be care-
ful thinking that this is
going to solve all our prob-
lems, drilling for oil, when
in fact it can lead to
tremendous issues for the
environment and the fish-
ing sector.

"Given the difficulty of
the economy it's hard for
a government to resist it. I
just believe that our envi-
ronment needs to be pro-
tected — we need to be
looking at renewable
(energy) instead of trying

to go after carbon based
fuels," said the former For-
eign Affairs Minister.

Recently, the govern-
ment published applica-
tions submitted by two
petroleum groups who
want to search parts of the
northern and southern
Bahamas for oil.

One of these applications
is from energy explorer
BPC and Norwegian oil
company StatoilHydro
have teamed up in to pos-
sibly search three locations
on the Bahamian side of
Cay Sal Bank.

Another seven locations
north of Grand Bahama
are subject to applications
covering five million acres
from a partnership
between Atlantic Petrole-
um Limited and Bahamas
Petroleum Limited. Seven
locations north of Grand
Bahama are also subject to
applications covering five
million acres from a part-
nership between Atlantic
Petroleum Limited and
Bahamas Petroleum Lim-
ited, according to pub-
lished reports.

The future of some of
these applications hinge on
ongoing maritime bound-
ary discussions with Cuba
and other neighbouring
countries.

It is reported than an oil

Bahama’ Health

Fee. Goop ABOUT

Your HEALTHPLAN

r nap)

discovery in Bahamian ter-
ritory could bring in an
estimated $12 billion in
revenue and create thou-
sands of jobs.

The spill — caused by an
exploding BP oil rig in the
Gulf of Mexico on April 22
— is estimated to have
spread to 3,500 square
miles, roughly the size of
Puerto Rico, with an esti-
mated tens of thousands of
gallons leaking every day.
More than 1.5 million gal-
lons of oil have leaked
since then.

It is expected to hit frag-
ile wetlands, marshlands,
wildlife and is a threat to
fishing and spawning spots
in the Gulf.

Added to this is the fear
that the slick will lead to
oil covered beaches in
coastal cities stretching
from Louisiana to Florida.

Earlier in the week, local
environment officials said
due to the direction of
wind and ocean currents
there was only a remote
possibility that the waters
of the Bahamas would be
affected by the oil. How-
ever a contingency is being
set up to form emergency
plans.

¢ SEE STORY ON PAGE

THREE AND POLL RESULTS
ON PAGE SIX.

A DIVISION OF







Eric Gay/AP

[1 customized group &
individual health plans

[uninterrupted coverage
[coverage after age 75

OW Neath plaNl ear srtnesnove



THE TRIBUNE

WORKERS PLACE OIL CONTAINMENT BOOMS around in the central marshes in St. Bernard Parish,
La. on Monday, May 3, 2010.

Alfred Sears
‘consults with
constituents’ on
whether to seek
re-election

FROM page one

that he has to meet at this
time.

“Mr Sears I would gather
would wish to devote the
next several years to edu-
cating his children and
focusing on his practice.
While we cannot say defini-
tively which way he might
go, you can understand his
desire if he wishes to take
this time to focus on his fam-
ily,” the source said.

While Mr Sears is con-
templating his next move in
his political career it is
understood that some resi-
dents of Fort Charlotte are
pushing to have their MP
returned to represent them
in the House of Assembly.

However, as sources close
to Mr Sears pointed out, it
would be difficult for him to
properly represent both the
interests of his constituents,
his clients, and his family all
at once.

“T believe he wishes to
contribute in other ways
other than as a Member of
Parliament; and he may be
willing to consider public
office at some future date.





ALFRED SEARS

But at this time that is not
one of his main priorities.
He would like to focus on
ensuring the education of his
children and to contribute
to the civic life of the com-
munity — other than as an
MP.”

Mr Sears ran successfully
against the FNM’s candidate
— the now Chief Justice Sir
Michael Barnett in 2007. Pri-
or to that election he served
as Minister of Education
and Attorney General under
the previous PLP govern-
ment from 2002 to 2007.





i CSpicy Wing Box

3 Spicy Wings & Fries $399

Snacker Deal

Chicken Box 2 Snacker Sandwiches

1 Pe. Chicken, Fries & Biscuit

CE

= wy
4 be
Fae eh

ey, oe Mini Bowl

Mini Famous Bow! & Biscuit

bd ait!
Int
Mii) ua



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





THE TRIBUNE
| US
AT ae pT



ine

TUESDAY,



MAY 4,



20-10

SECTION B ¢ business @tribunemedia.net

$6.6m revenues
from quarrying
on the Freeport
Concrete’s land

By NEIL HARTNELL
Tribune Business Editor

THE 127-acre tract of land
that BISX-listed Freeport Con-
crete is seeking to sell to ensure
its survival could generate $6.6
million in revenues per year if
used for a limestone aggregate
mine, an appraiser has forecast,
with production estimated at
495,000 tonnes per year.

A March 11, 2000, letter
from Wendell Grant, an
appraiser/engineer at W. Carv-
er Grant & Company, to
Freeport Concrete chief execu-
tive Ray Simpson, said that in
reaching the conclusion that the
land was worth $4.95 million,
based on an income valuation
method, it was determined that
the site could have a 15-year
lifespan based on excavating 70
per cent of the site.

Based on 90 acres of the
126.75 acre site being used for
limestone aggregate mining,
and using similar Freeport-
based operations as a bench-
mark, Mr Grant wrote: “Our
analysis found that an opera-
tion as outlined [here] could
generate approximately 495,000
tonnes of processed material

Use of BISX-listed firm’s 127
acres for quarrying could
generate $495,000 in net
operating income anually,
based on 495,000 tonnes

per annum and 70%
of site mines

per year.

“We expect that this could
return mean annualised rev-
enue of $6.6 million per year.
With adjustment for the cost of
operation and maintaining the
operation we forecast an annu-
al income of $4.95 million.
Weighing the risks associated
with the establishment and cap-
italisation of the operation, we
value the land at $4.95 million.

“With infrastructure rehabil-
itation in North America
increasing, the demand for the
product is not expected to
diminish, resulting in stable
return on investment for the
immediate future.”

Mr Grant’s letter estimated
that an aggregate mine on the
site, which is located north of

SEE page 2B

FamGuard general

insurance agency
on ‘frontburner’



By NEIL HARTNELL
Tribune Business Editor

FAM -
Guard
(Bahamas)
expects to
“end 2010 in
a more posi-
tive light” on
its health
insurance
business,
which swung
from a $4.663
million profit in 2008 toa
$1.942 million loss last year, as
it places the launch of its gen-
eral insurance agency on the
“frontburner” - targeting end-
June 2010.

Patricia Hermanns, president
of the BISX-listed insurer,
which operates as Family
Guardian, told Tribune Busi-
ness yesterday that the main
factor behind its 26.5 per cent
net income drop in 3009 was
the surge in claims experienced
by its BahamaHealth division.
These rose year-over-year by
50.9 per cent, increasing from
$25.176 million in 2008 to
$37.991 million in benefit pay-
outs.

“Our health claims have
been the major contributor to
the reduction in our profitabil-



HERMANNS

* Company plans to launch
agency by end-June

* Expects to end 2010 in
‘more positive light’ on
health business, following
negative $6.8m swing in ‘09

* Says A. M. Best outlook
downgrade caused by
mortgages accounting
for 1/3 of total assets,
plus use of inappropriate
model for ‘major metropolis’

”

ity,” Ms Hermanns said,
explaining that Family
Guardian was moving to
address this by working through
its portfolio one policy at a
time.

The life and health insurer is
now assessing the premium
pricing for all its Bahama-
Health policies and, based on
previous claims history, is look-
ing to bring premiums into line
with perceived risk - something
that will mean increases for
some.

The benefits from this exer-
cise, though, will take some

SEE page 6B

ROYAL FIDELITY

Uae LL g

RBC/ Fidelity Joint Venture Company

$65m port deal
sealed ‘this week’

By NEIL HARTNELL
Tribune Business Editor

he Government and
| private sector shipping
companies are work-
ing feverishly to try and con-
clude the agreement for the
new $60-$65 million Arawak
Cay port “this week”, multiple
sources told Tribune Business
yesterday, with the signing pos-
sibly coming as early as tomor-
row.

The 19 potential private sec-
tor investors in Arawak Port
Development Ltd met last
Wednesday to further discuss
the critical Memorandum of
Understanding (MoU) the
company is negotiating with the
Government for the project,

and sources familiar with the
situation said there was increas-
ing optimism that an agreement
could be sealed as early as this
week.

Jimmy Mosko, Arawak Port
Development Ltd ‘s chairman,
declined to comment when con-
tacted by Tribune Business yes-
terday, although he and the
other directors were said to be
in possession of the latest MoU
draft following its receipt from
the Prime Minister’s Office.

“The agreement is in hand,”
one shipping industry source
told Tribune Business on con-
dition of anonymity. “It came
late, but has been received. I
think there is a decision to go
ahead and sign off on it. It’s
close to being signed. After the

meeting on Wednesday, every-
one was extremely positive that
something was going to hap-
pen.”

Another source added:
“There are documents going
back and forth. There has been
considerable correspondence in
recent days with the
hope/expectation that a final
agreement could be reached
and signed this week.

“They are trying to get toa
position where a document, the
MoJU, could be finalised this
week.”

Tribune Business under-
stands that the Arawak Cay
port’s structure remains
unchanged, namely that the 19-

SEE page 2B

Bahamas spends $4m over climate change

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE BAHAMAS has thus
far spent more than $4 million
on learning about climate
change and how to combat its
effects, which could drive the
cost of living through the roof
in the future, the director of the
Bahamas Environmental, Sci-
ence and Technology (BEST)

Commission said yesterday.

Philip Weech said the Gov-
ernment has received much of
this money for major climate
change studies and alternative
energy reviews from entities
such as the Inter-American
Development Bank (IDB), plus
some private offerings. A large
majority of the grants and fund-
ing was only donated to the
Government over the past two
to three years.

According to Mr Weech
much of this money has been
pumped into finding ways to
decrease this country’s depen-
dence on fossil fuels for energy
production, through exploring
alternative energy options such
as wind and solar.

A large portion of grant
money from the IDB has also
been injected into finding ways

SEE page 2B

URCA defends 1.1% telecoms licensing fees

By NEIL HARTNELL
Tribune Business Editor

THE Utilities Regulation &
Competition Authority
(URCA) has defended the
annual communications licence
fee, equivalent to 1.1 per cent of
a carrier’s turnover, as “neither
unreasonable nor excessive”
when compared to regulatory
fees charged in other Caribbean
and small island states.

Responding to concerns
raised by sector operators that
its $4.8 million Budget for 2009-
2010 was “excessive”, with the
Bahamas Telecommunications
Company (BTC) and Systems
Resource Group (SRG) com-
plaining their licence fees would
“more than double” and rise

* Says increase ‘neither unreasonable nor excessive’
* Argues that comparison of $4.8m budget with lower
equivalents of regional counterparts not ‘like-for-like’ analysis
* Warns licensing fee may not always be 1.1% of
turnover, as charge determined by URCA budget
needs and sector’s financial performance
* $3m set aside to finance water, energy regulation

by 276 per cent, respectively,
to finance this, URCA said
added “responsibilities” had
contributed to the cost increase.

“URCA notes the comments
on the budget being excessive
and placing burdens on
licensees,” the communications
sector regulator said in its
response. “URCA is mindful
that it has to be an efficient and

ROYAL 3 FIDELITY

Money at Work

effective regulator, and offer
value for money.

“There is the addition of new
responsibilities (broadcasting,
competition), which adds to the
higher costs (through advisory
costs) during the first 16
months.

“Tn addition, URCA has out-

SEE page 6B



NASSAU
(242) 356-9801

FREEPORT
(242) 351-3010

MARSH HARBOUR
(242) 367-3135

royalfidelity.com

$100m industry's
shrinking danger
within 10-15 years

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE BAHAMIAN FISH-
ING industry could face severe
contraction in 10 to 15 years
due to ocean acidification and
ocean temperature increases,
brought on by the global warm-
ing that threatens to destroy
this country’s coral reefs, Tri-
bune Business understands.

Climate change expert, Dr
Peter Kouwenhoven, said ris-
ing ocean temperatures brought
on by climate change and an
increase in acidity are destroy-
ing coral reefs, and the
Bahamas is in danger of losing
an enormous chunk of its $100
million per annum fishing
industry if those fish habitats
collapse.

According to Dr Kouwen-
hoven, the rise in acidity occurs
as the ocean absorbs carbon
dioxide in the atmosphere,
which is released from burning
fossil fuels. Those emissions
change the acidity of the ocean
waters and destroy coral reefs.

Dr Kouwenhoven warned
that this effect is irreversible,
and is well into the first criti-
cal stages of acidification.

And rising ocean tempera-
tures are creating an effect on
coral known as bleaching,
which also destroys coral reefs.

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.





RBC/ Fidelity Joint Venture Company

Learn more at royalfidelity.com

Sort t=)

INTERNATIONAL REALTY

Damianos |

Sure you'll marry a millionaire!
Now what's Plan B?



FOR SALE BY SEALED BID

SANDYPORT, 14 CORAL BEACH #5276 Rare opportunity to
purchase a residential lot below market value in a superior family-
oriented environment. 6,450 sq. ft.with sandy beach and dock - ideal for a
dream home. Coral Beach Island is nicely developed with Colonial Style
residences,within walking distance to the newly built Phase 5 pool and
covered cabana. New Closing date for sealed bids: May 5th, 2010.
For viewing and bid package please call Lana Rademaker:
t 242.322.2305 or c 242.457.0406

Member of
SIRbahamas.com | 242.322.2305 | The Bahamas MLS | Booed

We can get you there. Royal Fidelity.

BAHAMAS
Nassau: 242.356.9801
Freeport: 242.351.3010

BARBADOS
St. Michael:

ROYAL 3 FIDELITY

Money at Work

246.435.1955









THE TRIBUNE

This consolidated balance sheet includes the following balances with related parties:

2009 2008
SFr SFr
(000) (000)
Assets
Due from banks — demand and call deposits 23,865 11,913
Loans and advances to customers 61 25
Derivative financial instruments 114 344
Investments at fair value through profit or loss 438 333
Management and advisory fees receivable 855 732
Accrued income and other assets 6 3

Liabilities

Deposits from banks

Customers’ deposits

Derivative financial instruments
Management and distribution fees payable
Accrued expenses and other liabilities

8. General Reserve

The general reserve is comprized of amounts appropriated from retained earnings for
capital needs including unforeseeable risks and future losses. Amounts transferred to the
general reserve account can only be distributed following approval by the shareholders in a
general meeting. In June 2009, the shareholders approved the transfer of SFr 1 Million
from retained earnings to the general reserve account (July 2008: SFr 1 Million).

9. Capital Management

The Bank’s objectives when managing capital, which is a broader concept than ‘equity’ on
the face of the consolidated balance sheet, are:

e To comply with the capital requirements set by the Central Bank of The Bahamas (the
Central Bank);
To safeguard the Bank’s ability to continue as a going concern so that it can continue to
provide returns for its shareholder and benefits for other stakeholders; and
To maintain a strong capital base to support the development of its business.

Capital adequacy and the use of regulatory capital are monitored by the Bank’s
management, employing techniques designed to ensure compliance with guidelines
established by the Central Bank. The required information is filed with the Central Bank
on a quarterly basis.

For the Bank, there is no difference between the composition of regulatory capital and the
components of equity as shown in the consolidated balance sheet. The Central Bank
requires each entity with a public bank and trust licence to maintain a ratio of total
regulatory capital to risk-weighted assets at or above a minimum of 8%. The Bank has
complied with all of the externally imposed capital requirements to which it is subject.

Commitments and Contingent Liabilities

(a) Lease commitments
In December 2006, the Group entered into a non-cancellable operating lease for the
rental of office space for the five-year period commencing 1 January 2007. In

addition, the Group also signed two lease agreements for the rental of two apartments
(one signed 2007 and renewed 1 November 2009 for one year, one signed 1 March

11.

TUESDAY, MAY 4, 2010, PAGE 5B

2009 2008
SFr SFr
(7000) (*000)
Commitments to purchase currencies
Parent Bank
Customers

4,513
3,102

16,906
17,374

7,615 34,280

Commitments to sell currencies
Parent Bank
Customers

4,449
3,168

16,762
17,514

7,617 34,276

The contract amounts of these instruments reflect the extent of the Group’s involvement
in forward currency contracts and do not represent the Group’s risk of loss due to
counterparty non-performance (credit risk). As of 31 December 2009, the Group’s
exposure to credit risk on forward currency contracts is limited to those contracts with a
positive fair value, which amounted to SFr 364 k (2008: SFr 382 k). All derivative
contracts are settled on a net basis.

Fair Value of Financial Instruments

Financial instruments utilized by the Group include recorded assets and liabilities, as well as
items that principally involve off-balance sheet risk. _ It is the Group’s policy not to take on
material exposure to the effects of fluctuations in prevailing foreign currency exchange
rates on its financial position and cash flows. As the Group has no significant unmatched
foreign currency positions, change in interest rates is the main cause of changes in the fair
value of the Group’s financial instruments. The majority of the Group’s financial

instruments are either short-term in nature or have interest rates that automatically reset to
market on a periodic basis. Accordingly, the estimated fair value is not significantly different
from the carrying value for each major category of the Group’s recorded assets and liabilities,

IFRS 7 specifies the hierarchy of valuation techniques based on whether inputs to those
valuation techniques are observable or unobservable. Observable inputs reflect market data
obtained from independent sources; unobservable inputs reflect the Group’s market
assumptions. These two types of inputs have created the following fair value hierarchy:

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities. This
level includes listed equity securities and debt instruments on exchanges (for example,
London Stock Exchange, Frankfurt Stock Exchange, New York Stock Exchange) and
exchange traded derivatives like futures (for example, Nasdaq, S&P 500).

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).
This level includes the majority of the OTC derivative contracts, traded loans and issued
structured debt. The sources of input parameters like LIBOR yield curve or counterparty
credit risk are Bloomberg and Reuters.

Level 3 — Inputs for the asset or liability that are not based on observable market data
(unobservable inputs). This level includes equity investments and debt instruments with
significant unobservable components.

The hierarchy requires the use of observable market data when available. The Group
considers relevant and observable market prices in its valuations where possible. The table

2008 for a period of two years). As of 31 December 2009, the future minimum lease
payments under these agreements are as follows:

Not later than 1 year
1—5 years

(b) Computer upgrade and module commitment

SFr 122k
SFr 87k

The Group has entered into a contractual agreement to purchase computer operating
system upgrades and software modules to assist with statistics, risk management, and
consolidation. As of 31 December 2009, future minimum payments due under the
agreement total SFr 162 k (2008: SFr 160 k).

Guarantees

As of 31 December 2009, the Group was contingently liable to the Parent Bank in
respect of guarantees issued on behalf of its customers totalling SFr 11.3 Million

(2008: SFr 6.6 Million).

concerned collateralize these guarantees.

Derivative financial instruments

Assets held by the Group on behalf of the customers

The Group enters into forward currency contracts solely as part of its client-related
Forward currency contracts are contracts to purchase and sell
foreign currencies at specific rates of exchange on specific dates in the future. Risk
arises from the potential inability of counterparties to perform under the terms of the
contracts (credit risk) and from fluctuations in the foreign exchange rates (market
risk). The Group manages the market risk of client-related positions by taking
offsetting positions with the Parent Bank, resulting in minimal market exposure. The
credit risk of client-related positions is managed by applying uniform credit standards
maintained for all activities with credit risk. Collateral held generally includes cash,
cash equivalents, and investment securities.

trading activities.

As of 31 December 2009, the Group had notional contractual commitments under
open forward currency contracts as follows:

below shows the fair value hierarchy levels for financial assets and liabilities.

As of December 31, 2009

Financial assets designated at fair

value
~ Debt securities
~ Equity securities

~ Derivative financial instruments

Total assets

Financial liabilities designated at

fair value

+ Derivative financial instruments

Total liabilities

As of December 31, 2008

Financial assets designated at fair

value
- Debt securities
- Equity securities

~ Derivative financial instruments

Total assets

Financial liabilities designated at

fair value

- Derivative financial instruments

Total liabilities

Ensuring we do not ‘court’ election woe

FROM page 1B

model of governance. One of
the most basic and fundamental
tenets of that model is that the
Prime Minister can go to the
electorate at any time for a
fresh mandate.

Therefore, if there is a crisis
in February and the fixed date
is November, there is a prob-
lem. In reality, this is not an
option unless we change to a
republican political model of
governance.

Financial Disclosure —

If we are serious about deep-
ening democracy and chipping
away at the entrenched influ-
ence of special interest groups,
we would have to put in place
laws requiring disclosure of
political contributions.

This is a very easy fix but one
that we can’t seem to get done.
Interestingly enough, this con-
cept gains traction with oppo-
sition parties, but the moment
they gain power their interest in
implementing change rapidly
fades away.

There is a growing view that
disclosure should not just be
limited to political contribu-
tions, but also that registered
parties should be required to
publish their accounts.

Boundaries Commission -

A Boundaries Commission
meets every five years and
makes recommendations to the

Governor-General as to how
many seats should be in the
House of Assembly. In densely
populated areas they would
consider the number of persons
in each constituency and try to
create a population balance. In
sparsely populated areas the
geographical make-up and
expanse of the area is also tak-
en into consideration.

The commission as constitu-
tionally mandated, and is
chaired by the speaker of Par-
liament. Other members are:

(i) A Justice of the Supreme
Court recommended by the
Chief Justice

(ii) Two members of Parlia-
ment recommended by the
Prime Minister

(iii) One Member of Par-
liament recommended by the
Leader of the Opposition.

In theory, the Commission is
independent, but in reality most
persons do not believe this to
be the case. While there is gen-
eral confidence in the indepen-
dence of the Justice, the other
four members are rank and file
card-carrying members of the
main political parties, while the
Government side has the
majority.

Further, some persons have
also expressed concern that if a
member of the judiciary goes
to the bench, having previously
offered as a candidate for a
political party, or having been a

member of the Cabinet through
a senatorial appointment, espe-
cially as Attorney-General,
would the public feel he/she is
impartial when it comes to a
matter such as boundary
changes, which could, by its
nature, have a significant
impact on the upcoming elec-
tions?

Are we mature enough to
take this to the next level and
make the majority of the mem-
bers independent? This is what
we need to do, but no govern-
ment has demonstrated the
political will to do so.

Technology —

The work of the PRD is sup-
posed to be ongoing, at least
that is the law. It is amazing
how ‘low tech’ their system
seem sto be. It does not appear
that the current system has any
audit trail function that can
record when changes are made
to entries and by whom. The
official Register should be
linked to the Register of Births
and Deaths at a minimum.

It is my understanding that
the Government has a GPS
mapping system where one can
go online and confirm the loca-
tion of houses and apartments.
In fact, they can do a lot of
work just using ‘Google Earth’.
This is not rocket science stuff.
Let’s put some young ‘techies’
in the PRD and they will get it
sorted quickly. We must move
with the times.

Independence of

Parliamentary Registrar —

I listened to the Prime Min-
ister recently speaking to the
independence of the Parlia-
mentary Commissioner as it
relates to the structure of the
position. Certainly, in theory,
he is independent but should
we consider setting up that
office as a separate statutory
entity?

Conclusion

We must challenge ourselves
to fix the current system imme-
diately, if not sooner. The way
things are currently being done
is woefully inadequate and
threatens to undermine our
fledgling democracy.

Until next week...

NB: Larry R. Gibson, a char-
tered financial analyst, is vice-
president - pensions, Colonial
Pensions Services (Bahamas), a
wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to rlgibson@atlantic-
house.com.bs

Level 1
(000)

Level 2
(000)

Level 3
(£000)

Total
(‘000)

2,995 2,995
438 438

- 364
3,433 3,797



Level 1
(£000)

Level 3
(*000)

Total

a) (*000)

2,309 2,309
333 333

- 382
3,024











NOTICE

NOTICE is hereby given that EDLINE OSCAR of COOPER’S
TERRACE OFF KEMP ROAD, NASSAU BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement of the
facts within twenty-eight days from the 3'¢ day of MAY, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box N-7147,
Nassau, Bahamas.

Legal Notice
NOTICE

NOTICE IS HEREBY GIVEN as follows:

(a) THE LUXURY FUND LTD. is in dissolution under the provisions of
the International Business Companies Act 2000.

(b) The Dissolution of said Company commenced on May 3, 2010
when its Articles of Dissolution were submitted and registered by
the Registrar General.

The Liquidator of the said company is Zakrit Services Ltd. of 2nd
Terrace West, Centreville, Nassau, Bahamas.

All persons having Claims against the above-named Company are
required on or before the 21st day of May, 2010 to send their names and
addresses and particulars of their debts or claims to the Liquidator of the
company or, in default thereof, they may be excluded from the benefit of
any distribution made before such debts are proved.

MAY 3, 2010
ZAKRIT SERVICES LTD.

LIQUIDATOR OF THE ABOVE-NAMED COMPANY



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



PAGE 6B, TUESDAY, MAY 4, 2010
[Sa
FamGuard on ‘frontburner’

FROM page 1B

time to be felt, as Family
Guardian can only re-price
policies once they become due
for renewal, forcing it to work
through the issue on a daily,
weekly, monthly and even
quarterly basis.

“It’s something that has to
be worked through on an indi-
vidual account basis as we
move through the year,” Ms
Hermanns said. “We have con-
tinued challenges in the health
portfolio, which we continue to
manage, and as we work
through the quarters we expect
to see that improve.

“We expect to end the year
in a more positive light as it
relates to health.”

There was a role reversal
when it came to the key drivers
of Family Guardian’s business
in 2009, as compared to 2008.
Last year, it was the company’s
life insurance business that
picked up the slack, with net
premium income - plus annuity
deposits and investment income
- up 15.6 per cent at $45.643
million, compared to $39.469
million in 2008.

With policyholder benefits
essentially flat at $22.907 mil-
lion, compared to $22.166 mil-

PURO BET AMEN
Paralegal
Positions Available

2-5 years experience

lh tae PAPAL)

eh
LIVIN Tice bilecdamco nit



lion in 2008, Family Guardian’s
life division generated $6.145
million in net income compared
to just $521,000 the year before.
That helped to counter the
more than $6.6 million nega-
tive swing on the company’s
health portfolio.

“We have seen an increase
in the life business, and the
annuity business as well,” Ms
Hermanns told Tribune Busi-
ness. “There has been an
increase in premium related to
renewal sales, as well as related
to new business in life and
annuities. We had strong
growth in both blocks of busi-
ness in 2010, with premium
growth in excess of 15 per
cent.”

While Family Guardian was
not planning to launch any new
products in 2010 due to the
weak state of the Bahamian
economy, it was gearing up
towards the launch of its whol-
ly-owned general insurance
agency subsidiary.

“That is very much on the
frontburner, and we are making
great progress towards having
that launched, we hope, in the
next month or certainly by the
end of June, and having it fully
functional and operational,” Ms
Hermanns added.

Family Guardian General
Insurance Agency, which has
been on the launch pad for
many years, will operate
through the company’s existing
sales force and agency network.
The insurer’s capital markets
business was also seeing the
expansion of its client base.

Ms Hermanns, meanwhile,
declined to go into detail on the
proposed holding company
merger between Bahamas First
Holdings and FamGuard Cor-
poration, and the status of
negotiations, telling Tribune
Business: “We are finalising our
position on that, and should be

LEGAL NOTICE

making a comment on that in
the near future.”

The Family Guardian presi-
dent declined to compare and
contrast the different positions
A. M. Best took on her com-
pany and Colina Holdings
(Bahamas), the other listed life
and health insurer.

The international insurance
credit rating agency downgrad-
ed the outlook on Family
Guardian to ‘negative’, while
maintaining the one for Colina
Holdings (Bahamas) at ‘stable’,
despite expressing concerns
about the level of defaults in
both companies’ mortgage
portfolios.

Ms Hermanns said compar-
isons were difficult unless some-
one knew the composition of
both companies’ balance sheets
“beneath the surface”.

She added, though, that A.
M. Best’s concerns with regard
to Family Guardian had always
been the “size of the mortgage
portfolio as a percentage of the
total asset base”. With $61.305
million in net mortgage loans
on the books at December 31,
2009, these constituted some 32
per cent - just under one-third -
of the company’s $189.152 mil-
lion total assets.

This percentage, though, had
not changed since discussions
with A. M. Best began, and Ms
Hermanns suggested the rating
agency was employing an inap-
propriate model for analysing
Family Guardian and the
Bahamian market, namely one
that was more consistent with a
“major metropolis” such as
New York and the US.

Unlike the securitised US
mortgage market, Bahamian
insurers were directly tied to
their borrowers, and also had
to cope with the constraints of a
relatively illiquid stock market,
unlike the US, Ms Hermanns
said.



URCA, from 1B

lined an ambitious agenda,
reflecting the concerns of many
licensees to address long-stand-
ing regulatory issues as quickly
as possible - infrastructure shar-
ing and number portability are
examples of this.”

SRG, though had com-
plained that URCA’s budget
was “excessive compared to
other regional communications
and utility regulators”, a com-
ment echoed by its fixed-line
competitor, BTC.

The 100 per cent state-owned
incumbent, which is in the
midst of a privatisation exer-
cise, went further, pointing out
that its “fees to URCA have
more than doubled compared
to the fees paid to” the regula-
tor’s predecessor.

“In BTC’s view, URCA’s
fees are excessive by interna-
tional standards and make it
difficult for BTC to operate a
profitable business,” the sector
regulator said in its review.
“BTC infers that high fees are
likely to discourage investment
in the sector, and that it is still
required to make significant
other payments in the normal
course of operations (customs
duties, taxes, etc).”

Yet, in a robust defence of
its fee position, URCA said it
had provided a comparison to
the sector in previous consul-
tation documents.

And it added: “This showed
that the annualised URCA fee
of 1.1 per cent [of a licensee’s
annual turnover] was neither
unreasonable nor excessive
compared with either regional
or other small-island regula-
tors.”

URCA, though, spent much
time rebutting the comments
of SRG, which operates as Indi-
Go Networks. The carrier had
compared URCA’s $4.8 million
budget for 2009-2010 with the
$3.8 million allocated for the
Barbados utility regulator,

LEGAL NOTICE

while counterparts in the Cay-
man Islands, Jamaica and the
Turks & Caicos had budgets of
$1.3 million, $3.1 million and
$1.3 million respectively.

SRG said the utilities regu-
lators in Barbados, Jamaica and
the Cayman Islands all regulat-
ed more sectors than URCA,
such as electricity, water, nat-
ural gas and transportation, and
had to cope with more industry
players as a result of liberalisa-
tion being more advanced in
those countries.

“By any measure, SRG takes
the respectful view that
URCA's budget is dispropor-
tionate. The Bahamas is the
least competitive of these juris-
dictions, with only a small num-
ber of operators,” the company
said.

Responsible

"URCA is responsible for
regulation of only a limited
number of sectors. URCA's
budget is 26 per cent greater
than the next highest jurisdic-
tion of Barbados, which also
regulates electricity and natur-
al gas, and 269 per cent greater
than the lowest cost jurisdic-
tion that regulates the same sec-
tors."

However, URCA said SRG’s
research was “not a like-for-
like” analysis, pointing out that
“no other regulator is in its first
year of liberalisation of the
communications sector in addi-
tion to dealing with a new and
different regime”.

“Experience from newly lib-
eralised markets suggests that
regulators typically experience
a higher set of costs, and there-
fore correspondingly set a high-
er level of licence/regulatory
fees in comparison with latter
years of liberalisations,” the
regulator added.

“Therefore, comparing the
level of URCA fees for 2010
with the level of licence fees in
other regional markets now
sends the wrong signal; what

THE TRIBUNE

would be more appropriate is
to analyse licence/regulatory
fees from other jurisdictions
during year one of liberalisa-
tion and change in the regula-
tory regime.”

URCA added that it was
responsible for licensing, spec-
trum matters and broadcasting,
all areas not covered by its Bar-
badian counterpart. And the
Jamaican regulator did not
have responsibility for the latter
two areas or competition con-
cerns.

“As this is a transition period
for URCA, the costs for advi-
sory services, and overall costs,
are likely to be high, due to the
change in regulatory regime,”
the regulator said. “URCA
anticipates that with knowledge
transfer and experience, its
budget will stabilise and costs
will decrease in real terms over
the medium term.”

BTC, meanwhile, had pro-
posed implementing a cap on
URCA’s fees, so that its rev-
enue/licensing fee demands did
“not become limitless”.

The regulator, though,
described such a cap as “inap-
propriate”. It added: “The
URCA budget is determined
annually, then using the esti-
mated turnover for all licensees
(using latest available financial
information), a licence fee is
estimated.

“The licence fee may not be
the equivalent of 1.104 per cent
each year, as it is driven by
URCA’s budget, and also the
estimated turnover for all rele-
vant licensees.

“Therefore, there are no pro-
visions to bill and collect on a
defined percentage licence fee
regardless of what URCA’s
budgetary needs are from year-
to-year.”

URCA’s Board has also
approved allocating $3 million
from its contributed surplus to a
separate reserve that will
finance preparations for it to
regulate the Bahamian energy
and water sectors.

NOW ACCEPTING

NOTICE
OSAMUTRA COMPANY LTD.

N OTIC E IS HEREBY GIVEN as follows:

NOTICE
DLEBTA LIMITED

N OTIC EIS HEREBY GIVEN as follows:

immediate applications:

An established marketing company requires a marketing
manager with good communication skills, sales

(2) OSAMUTRA COMPANY LTD. is in voluntary experience, drivers license, and personal transportation.

dissolution under the provisions of Section 137 (4)
of the International Business Companies Act 2000.

(a) DLEBTA LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the

International Business Companies Act 2000. We are looking for energetic, career minded individuals

to aid us with our expansion goals. Must be able to
create, educate, train, develop and motivate by following
company policies and maximizing sales and profits

(b) The dissolution of the said company commenced on : : :
the 27th April, 2010 when the Articles of Dissolution (b) ey ene igure dea rr ai

were submitted to and registered by the Registrar
General.

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

Dated this 4th day of May, A. D. 2010

CST Administration (Bahamas) Limited
Liquidator

Legal Notice

NOTICE
FANTEC VISTA

INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

LIVINGSTONE ENTERPRISE LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Dissolution were submitted to and registered by
the Registrar General.

(c) The Liquidator of the said company is Peter
Leppard of c/o 1 Raffles Link #05-02 Singapore
039393.

Dated this 04th day of May A. D. 2010

Peter Leppard
Liquidator

Legal Notice

NOTICE
GARSON PLAINES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

ZACAPA INTERNATIONAL LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

through our earning opportunity.

Should possess strong team building and development

skills.

Excellent base salary plus bonus.

lf you are motivated by directly influencing the success
of others, please e-mail
marketingsales2010 @hotmail.com

Legal Notice

NOTICE
KOBALT HOLDINGS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., PR O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

PENHURST INVESTMENTS PTE. LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named

Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., PR O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)



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



THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 11B



WOMAN





The Tribune

©



ith





The importance of wearing sunglasses

By REUBEN SHEARER
Tribune Features Reporter
rshearer@tribunemedia.net



Bahamians protect their eyes
from damaging ultra-violet
light, a leading opthamologist

stressed yesterday.

Dr Jonathan Rodgers, of Pearle
Vision in Harbor Bay Shopping
Plaza told Tribune Health of a
recent study done years ago that
an estimated two weeks worth of
sunlight in the Bahamas works out
to a year of sun exposure in Cana-
da.

"It behooves Bahamians not to
leave home without sunglasses, and
to wear them every time they go
outside," he said. Dr Rodgers said
it is important for persons to start
wearing sunglasses from an early
age, since persistent exposure to
sunlight over the years causes the
onset of eye conditions.

According to www.preventblind-
ness.org, UV-A rays can hurt your
central vision. It can damage the
macula, the oval-shaped yellow
spot near the center of the retina of
the human eye.

UV-B rays, which may cause
even more damage to your eyes are
absorbed mostly by the front part
of your eye (the cornea and the
lens), the site explained.

Wearing protective sunglasses,
with 100 per cent protection from
UV-A and UV-B rays will take
care of the harmful ultra-violet light
rays, and preserve your vision.

While your budget will determine
the brand and style of lenses you
choose, it is imperative that you
purchase a brand that provides 100
per cent UVA/UVB protection.

@x

t is extremely important that

Long-term exposure to UV rays
can lead to cataracts, macular
degeneration, or skin cancer
around the eyelids.

Cataracts is the clouding of the
normally clear lens of your eye, and
can be caused from direct, strong
UV rays hitting the eyes over the
years.

“But If you live long enough you
are destined to get a cataract,” said
Dr Rodgers.

UVA light is still a major con-
cern in old age, especially if you
have light colored eyes, which may
predispose you to developing this
eye condition.

Macular degeneration is a dis-
ease caused by looking directly in
the sunlight, which can burn your
retina. Excessive sun exposure can
also lead to photokeratitis -sunburn
of the cornea, which is quite
painful, but reversible.

Corneal burns can occur in those
who visit the beach. Bright land-
scape-like sand can reflect up to 80
per cent of UV radiation. This
painful condition can result in tem-
porary loss of vision.

Dr Rodgers says patients don’t
often request prescription sun-
glasses, but when they do come in,
he recommends “Transitions” lens-
es or another brand which darkens
as you go outside, and lightens
when you enter a room.

Everyone is susceptible to eye
damage from the sun year-round,
doctors say. And the greatest risk
period of negative sun exposure is
from about 10am to 4pm. Frequent
beach-goers, fishermen, farmers,
and others who spend time in the
sun for extended periods are said to
be the highest at-risk groups. It is
recommended that those persons
wear shades that wrap straight
around the eyes.

LOVING RELATIONSHIPS















WEARING protective sunglasses, with 100 per cent protection from UV-A and UV-B rays will take care of the harmful ultra-

violet light rays, and preserve your vision.



Men and Sex: What really attracts men?



IT REALLY does not take a degree
in Human Sexuality to determine that
men are visual people. Not only is the
topic widely discussed, but as women we
have grown up witnessing it. We only
have to observe men’s eyes following an
attractive woman walking down the
road. Some are discreet and let their
eyes do the talking, whilst others allow
their whole body to communicate their
interest. To acknowledge their appre-
ciation, they may even include a ‘cat
whistle’ or ‘seek. ‘As long as there are
no crude or derogatory comments
attached, then an added spring can usu-
ally be seen in her step. But, does every
woman have such an affect, or is it just
a certain type of woman?

Taste preferences play a prominent
role in the first impression look. Love
types are imbedded in our subconscious
from an early age and we continually
pull on memories to see if someone fits.
This is usually not a conscious decision,
but an ‘Tlike that’ thought. At times, we
may veer off the path but over time we
find ourselves returning to our original
map. What may be considered attractive
to one man may not to another, and
the old adage ‘Beauty is in the eye of
the beholder’ is certainly true.

Putting aside our individual leaning
towards a certain look, men are unques-
tionably drawn to feminine curves.
Their desire and imagination is tweaked
by the silhouette, and the eyes will
return for more if the ‘Love Map’ has
been triggered. The intrigue continues
when eyes meet and an instant connec-
tion is made. Physical and sexual ener-
gy can ignite at this point and an imme-
diate attraction has started.

The opening conversations are impor-
tant to a man to assess real interest.
Light flirting is useful to ‘test the waters’
without investing too much time and
energy. It is also effective in establishing
personality, intellect, temperament and
approachability. For things then to
move forward, men need encouraging
feedback and mutual curiosity.

The power of a relaxed smile can not
be underestimated. A positive self
assured aura portrays sexual confidence,
which is alluring to all those in close
proximity. Add a sense of humour and



the overall sex appeal becomes mag- ity.

netic and hard to resist.



Men look for the same level of inter-
est and enthusiasm when a woman
becomes their sexual partner. Equal
participation and a steady flow of ener-
gy add to the ease of communication. In
order to reach maximum arousal, and to
stimulate all our senses, women should
not forget the visual and touch appeal of
lingerie.

Male societal pressure is often hard
for women to fully appreciate. Women
are used to being pursued and seduced.
They have the power to choose to sur-
render and it is this that many men
envy. Men are excited by the idea of
being seduced by an attentive and con-
fident woman. To be desired, taken,
and overcome by their lover’s passion
fuels the image of exquisite vulnerabil-

If we took the time to question a cross
section of men we would probably hear
similar qualities expressed by women.
Both genders are looking for the ‘full
package’: Sex appeal, intelligence,
thoughtfulness, dependability, and
devoted love. Understanding this lets
us know that ‘beauty is only skin deep’.
If we work on ourselves and develop
good self confidence and respect, then
this will be reflected in our passion for
life.

¢ Listen to ~ Love on the Rock ' with Mag-
gie Bain every Thursday 5-6pm on Island
FM 102.9 For appointments . call 364
7230 , email relatebahamas@yahoo.com
or www.relatebahamas.blogspot.com.



Pee eeereesceseseseeseeseeseeesaoesed

eee ecccseeseesercsecesseces

eeeceeseecceccessecseesees

ereescceseecceve

Pregnancy and
Chiropractic Care

IF YOU are pregnant,
one of the best things you
can do for yourself and
your baby is to see a doctor
of chiropractic. Yes, chiro-
practic adjustments are safe
during pregnancy. Doctors
of Chiropractic make alter-
ations in technique and
patient positioning to
accommodate for the
increase in belly and breast
size. Many Chiropractic
adjusting tables are special-
ly designed with abdominal
pieces that ‘drop-away'’,
allowing the pregnant
woman to lay face down.

During pregnancy, a
women’s body secretes hor-
mones that help to relax
her ligaments. Without
these hormones, her pelvis
would not expand enough
to allow the birth of the
baby. When you add the
increase in weight, shift in
center of gravity and the
change in biomechanics
(due to the weight--all out
in front!), it is no wonder
that pregnant women are
prone to back pain. Most
often, during pregnancy,
low back pain is a result of
vertebral subluxations and
muscle spasm. A vertebral
subluxation is the misalign-
ment of a bone in your
spine. Subluxations cause
muscle spasm and stress on
the spine which causes pos-
tural distortions which in
turn affect nerves, muscles,
and mobility of joints.
Gentle chiropractic adjust-
ments help ease the low
back pain and keep your
body (nerves, muscles,
organs, etc.) functioning at
their optimum.

Low back pain is the most
common reason that preg-
nant women seek Chiro-
practic care. The degree of
pain ranges from barely
noticeable to debilitating,
with stabbing or shooting
pain into the legs and but-
tocks.

Pain in the mid-back
becomes more frequent as

the breasts become denser
from milk gland produc-
tion. Increases of hormones
also contribute to headache
occurrence. Women, who
suffer migraines and were
taking medication prior to
becoming pregnant, often
look to Chiropractic for
relief, since they can no
longer take the medication.
Many patients actually find
that the adjustments are
more effective than the
medications.

Aside from 'symptom
relief’, receiving Chiro-
practic care during preg-
nancy has other benefits to
mother, baby and upcom-
ing labour. The uterus is
supported by ligaments that
attach to the pelvis. If the
bones in your pelvis are
subluxated, it can put ten-
sion on those ligaments.
This can cause a decrease
in space in the uterus, as
well as, in the pelvis ring.

It is important to ensure
that the pelvis is aligned
properly to allow optimal
opening during labor.
Women, who have under-
gone Chiropractic adjust-
ments during their preg-
nancy, report that their
labors are easier and less
stressful on their bodies.

Many ‘side effects’ of
pregnancy can be reduced
with Chiropractic adjust-
ments ... low back pain,
leg cramps, mid-back pain,
neck pain, headaches,
carpal tunnel symptoms,
and even nausea. Don’t
just grin and bear it, find a
chiropractor who is trained
in caring for pregnant
women and start enjoying
your pregnancy. Chiro-
practic care through preg-
nancy is not only safe, it is
essential!

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



THE TRIBUNE





PAGE 18
ir :

TUESDAY, MAY 4,



2010



Mayweather
knocks ‘sugar’

off Shane...
See page 19



Slatter, Smith win titles a
Legends Bowling Classi

SPORTS

INBRIEF

TENNIS



MATCHES in the
World Junior Tennis com-
petition are slated to get
underway March 29 in the
North/Central America and
The Caribbean Regional
Pre-Qualification event in
Trinidad and Tobago with
the No.6 seed Bahamas
Girls U14 team taking on
Aruba at 12:30pm.

The Bahamas team is led
by Erin Strachan playing the
No.1 singles, Gabriella
Bowe No.2 singles and
Dominique Mortier the
No.3 player on the team.

The girls’ team plays in
Pool 3 with Honduras, El
Salvador and Aruba.
Bahamas girls play El Sal-
vador on Tuesday and No. 3
seed Honduras on Wednes-
day. The captain of the girls’
team is Artie Johnson of
Eleuthera.

The Bahamas Boys U14
team is seeded No.2 and
plays out of Pool 6 with
Antigua and Barbuda and
the Netherland Antilles.
Boys’ team is led by Justin
Roberts playing the No. 1
singles, with Philip Major
playing No. 2 singles and
Treajh Ferguson in the No.3
singles position.

The team has a bye in
the first round and begins
play 8:30am Tuesday
against the Netherland
Antilles. The final match in
the round robin format will
be against Antigua and Bar-
buda 8:30am Wednesday.

The winner of Pool 6 will
advance to the main draw
on Thursday with a chance
to play for the champi-
onship. Bradley Bain, Nas-
sau, will captain the boys’
team.

There are 18 boys U14
teams from around the
Caribbean and Central
America, the Dominican
Republic is seeded No.1,
Bahamas No.2, Guatemala
No.3 and Puerto Rico No. 4.

On the girls’ side there
are 17 teams with Puerto
Rico and Guatemala No. 1
and No. 2 respectively.

The World Junior Tennis
Competition ends April 3
with the overall winners in
the boys and girls division
going on to compete in the
World Junior Tennis Qual-
ification event against the
US, Canada, and Mexico
April 30 — May 1, 2010, in
Florida.

BASEBALL
JBLN RESULTS

RESULTS of games
played over the weekend in
the Junior Baseball League
of Nassau at the St
Andrew’s Field of Dreams
are as follows:

TEE BALL

Raptors def. Blue Claws
17-16; Sidewinders def.
Grasshoppers 21-8; Knights
def. Sand Gnats 20-17.

COACH PITCH

Padres def. Pirates 17-7;
Cubs def. Athletics 13-9;
Angels def. Diamondbacks
10-4.

MINOR LEAGUE

Royals def. Brewers 10-
8; Rockies def. Red Sox 9-3;
Orioles def. Mets 8-6.

MAJOR LEAGUE

Reds def. Marlins 17-14;
Indians def. Mariners 23-5.

JUNIOR LEAGUE

Dodgers def. Rays 11-1;
Yankees def. Twins 12-11.

SENIOR LEAGUE

Phillies def. Giants 15-6;
Nationals and Tigers played
to 6-6 tie game.





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

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

Ithough it was

originally

designed for

competitors

aged 50 and
over, two slightly younger vet-
eran players emerged as cham-
pions of the first Legends BowIl-
ing Classic.

The week-long competition
concluded Sunday night at Mar-
io’s Bowling and Family Enter-
tainment Palace with David
Slatter and Angela Smith win-
ning the men’s and women’s
titles respectively.

It was the first major bowling
tournament held in New Prov-
idence in more than a decade,
due to the fact that the Village
Bowling Lanes was sold out to
a furniture store and Mario’s
Bowling just recently opened
its doors to the world-class 50-
lane facility.

Slatter, a 46-year-old former
champion in the Bahamas Fed-
eration of Amateur Bowlers’
prestigious Rothmans National
Championships that was a hall-
mark at the Village Bowling
Lanes, had a scratch total of
236 to finish 13 pinfalls ahead of
his nearest rival, Mario Brown,
with 223.

Rounding out the top five
were Dave Moxey with 191,
Sonith Lockhart with 161 and
Johann Pyfrom with 181.

Slatter completely dominated
the competition in the men’s
division as he went on to post
the highest set of 1,479 and the
highest game of 289.

At the end of the qualifying
round, Slatter led the field of
33 competitors with a total
scratch of 4,069 from 18 games
bowled for an average of 226.

Moxey, 42, trailed with 3,915
and a 218 average, while
Pyfrom sat in third with 3,812
and a 212 average. Lockhart
was fourth with 3,799 and a 211
average and Pyfrom ended up
fifth with 3,799 and a 210 aver-
age.

Smith, a 47-year-old former









national female champion,
turned in a scratch total of 191
to top her field. She was fol-











es

BOwWYLPING CLASSIC







lowed by Joanne Woodside-
Powell with 187, Janice Hoyte
with 168, Cheryl Rolle 148 and
Petrina Cartwright with 145.

However, Woodside-Powell,
52, produced the highest set of
1,219 and the highest game of
254.

Just seven women partici-
pated in the female segment
with Woodside-Powell taking
the qualifying round with a
total of 3,346 pinfalls for an
average of 186.

In order of finish were Janice
Hoyte with 3,184 and a 177
average, Angela Smith with
2,752 with a 153 average,
Cheryl Rolle with 2,745 and a
153 average, Cynthia Saunders
with 2,649 and a 147 average,
Petrina Cartwright with 2,627
and a 146 average and Marion

VO10O



MEET THE WINNERS and organisers of the Legends Bowling Classic...

Photos by Felipé Major/Tribune staff



Jolly with 2,428 and a 135 aver-
age.

Gregory Wilkinson, the assis-
tant director of marketing and
special events at Mario’s, said
despite the fact that the num-
bers were not as significant as
they originally planned, the
tournament was still a success.

“We anticipate a greater par-
ticipation in the future when
we hold an International Open
Tournament,” Wilkinson said.

“But we were very pleased
to get this one off. Hopefully,
the interest will slowly get back
to where it used to be.”

Exciting

finish in

making
for BAISS
volleyball
playolis

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

AS the Bahamas Association
of Independent Secondary
School’s athletic calendar
comes to an end, the final sport
on the association’s schedule
gears toward an exciting finish.

After yesterday’s single elim-
ination playoffs, championship
matchups in the BAISS senior
division volleyball league are
all set.

In senior boys play, the
Queen’s College Comets and
Kingsway Saints will square off
in a matchup of the league’s
top two teams all season long.

The Saints were the first to
advance when they topped
Bahamas Academy 17-15, 17-
16 and the Comets followed
suit shortly thereafter with a
win over the Westminster
Diplomats, 17-11, 17-16.

Both teams finished the reg-
ular season with identical
records of 7-1, however, the
Comets held the tie breaker
and entered as the No.1 seed.

Both the Stars and Diplo-
mats finished the season at 5-3.

In the senior girls division,
the St Andrew’s Hurricanes is
slated to face the St Augustine’s
College Big Red Machine.

The Hurricanes finished as
the league’s pennant winners
with a record of 7-1, while the
Big Red Machine were one of
three teams to finish at 6-2.

Although the top-seeded
team, the Hurricanes had the
most difficult road to the cham-
pionship, but outlasted the
Comets in a three-set thriller.

St Andrew’s won the match
17-16, 10-17, 15-13, while the
Big Red machine cruised to the
championship with a 17-10, 17-
9 win over the Saints.

The format of the champi-
onship game will be the best
two out of three sets to 25
points, no cap, with two clear
points.

If a third set is needed it will
be played to 15 points with no
cap, two clear points. The
games are scheduled to begin at
the St Augustine’s College cam-
pus at 4pm.

The volleyball season for
juniors begins on May 10 with
girls games scheduled for Mon-
day, Wednesday and Friday
while boys will play Tuesday
and Thursday.













TRIBUNE SPORTS



Bolt wins
200 in
19.56s in
Jamaica
meet

KINGSTON,
Jamaica (AP) —
Usain Bolt won
the 200 meters
in the Jamaica
International
Invitational in
19.56 seconds,
the fourth-
fastest time ever.

Bolt's time
Saturday at
National Stadium was 0.37 sec-
onds off the world record of
19.19 that he set last year in the
world championships in Berlin.

The Olympic star also ran a
19.30 in the Beijing Olympics,
and has run 19.57 twice.
Michael Johnson has the third-
best time at 19.32.

Bolt, who also holds the
world record in the 100, said he
is not trying to break records
this season and "just wanted to
come out here and give Jamaica
a good show."

American Wallace Spearmon
was second in 19.98.

Veronica Campbell-Brown
won the women's event in
22.60. Also, Bolt rival Tyson
Gay won the men's 400 in
45.05.



BOLT

A COANANKemOrM Aes
in 3, Braves
sweep Astros



ATLANTA (AP) — Jason
Heyward knows the Atlanta
Braves can’t dwell on their
three-game sweep of slumping
Houston.

Heyward said the Braves,
like the Astros, “are still in last
place and still have some work
to do.”

Heyward and Melky Cabr-
era each drove in three runs
and the Braves beat Houston

Hull relegated,
Arsenal loses
at Blackburn

By ROBERT MILLWARD
AP Soccer Writer

LONDON (AP) — Steve
Gohouri’s stoppage-time equal-
izer for Wigan relegated Hull
from the Premier League after
a 2-2 draw on Monday while
Arsenal lost 2-1 at Blackburn
for its fifth game without a win.

Leading 2-1 after goals by
Will Atkinson and Mark
Cullen, Hull looked set to take
its relegation fight down to the
final round of games before
Gohouri scored with an acro-
batic, overhead kick from close
range.

The result means that Hull,
promoted two seasons ago, can-
not catch 17th-place West Ham
and is relegated to the League
Championship, along with
Portsmouth and Burnley.

Arsenal chased a victory at
Blackburn to guarantee finish-
ing third, which would have
sent it straight into the group
phase of next season's Cham-
pions League, avoiding the
qualifying rounds.

Striker

Arsenal striker Carlos Vela
missed an open goal after only
two minutes when he pulled a
cross from Theo Walcott wide
of the far post but the visitor
went ahead through Robin van
Persie's close-range header
from Samir Nasri's cross.

David Dunn equalized in the
44th minute when a low cross
by Keith Andrews was deflect-
ed into the path of the
unmarked midfielder, who
tapped the ball home for his
10th goal of the season.

Arsenal 'keeper Lukasz
Fabianski made top-quality
saves to keep out shots from
Morten Gamst Pedersen and
David Hoilett while Mikael Sil-
vestre almost turned a flicked-
on, long-range throw by Ped-
ersen into his own net,

From the corner, however,
Fabianski failed to get to the
ball and Christopher Samba
headed home from close range
in the 68th minute.

While Blackburn's victory
sent the team up three places to
10th, Arsenal can still be caught
for third by either Tottenham
or Manchester City, which each
have a game in hand but play
each other on Wednesday.

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





HISTORY repeats itself as,
for the second year running,
the St Andrew’s School Hur-
ricanes had all four teams
make it to the Bahamas Asso-
ciation of Independent Sec-
ondary Schools (BAISS) soc-
cer finals. And, for the second
year in a row, three of those
four teams took home the
championship.

The senior girls defeated
Temple Christian 3-0, the



7-1 on Sunday, handing the
Astros their sixth straight loss.

“Let’s keep it going,” Hey-
ward said. Heyward, the rook-
ie sensation who had homers
in three straight games before
Sunday, had two hits. He ranks
among the NL leaders with sev-
en homers and 23 RBIs and has



FLOYD MAYWEATHER JR (right), connects with a punch against
Shane Mosley during their WBA welterweight match in Las Vegas

SPORTS

senior boys beat St John’s 2-0,
and the junior boys swept
Queen’s College 8-0.

Pennants

All four pennants were won
by the Hurricanes soccer
teams, and they had a com-
bined record of 24 wins and
no losses, only conceding one
goal.

In this year’s BAISS soft-

demonstrated a flair for key hits
in his first month in the major
leagues.

“T think what makes it most
impressive is when he gets his
hits and RBIs,” Braves starter
Derek Lowe said. “You know
it’s not by accident he’s having
the success he’s having.”





Saturday. Mayweather won in a unanimous decision.

LAS VEGAS (AP) — In
recent months, with emphat-
ic victory after emphatic vic-
tory, Floyd Mayweather Jr
and Manny Pacquiao each
staked their claim to being
boxing’s best. But their
dream bout remains uncer-
tain, even unlikely.

The pendulum swung
back toward Mayweather
after his thorough destruc-
tion of Shane Mosley on Sat-
urday night. Mayweather
proved he could overcome
two shots that buckled him,
and silenced critics with an
onslaught of righteous right
hands.

But Mayweather’s latest
boxing clinic only served to
harden the stances of two
sides that remain as far apart
as their current locations,
here and in the Philippines.

Pacquiao is still opposed
to blood testing and is run-
ning for political office back
home. Mayweather is still
demanding blood testing
and running his ever-active





Mayweather
knocks ‘sugar’
off Shane

(AP Photo)

‘Dream’ bout
with Pacquiao
uncertain



mouth.

“T paved the way,” he
said. “All roads lead to
Floyd Mayweather.”

Boxing being boxing, the
fight that makes the most
sense, the only welterweight
fight that really makes any
sense at all, remains in jeop-
ardy.

In November, Pacquiao’s
brutal beating of Miguel
Cotto shot his stock sky-
ward, but the PPV numbers
and interest in this fight only
bolstered Mayweather’s
claim to being boxing’s
biggest draw.

Both sides insist they want
to deliver a bout between
Mayweather and Pacquiao,
but what both really mean
is they want to make that
fight happen on their terms.








JUNIOR BOYS (top left), junior girls (top right), senior boys (above left) and senior girls (above right) soccer teams...

St Andrew’s Hurricanes

soccer teams victorious

ball, basketball, and soccer, St
Andrew’s has brought seven
teams to the championships
and won four.

Their senior boys softball
team, and the junior boys and
senior girls soccer teams all
won for the third year run-
ning, with their senior boys
team winning for the fourth
consecutive year.

Also, amazingly for a school
its size, the Hurricanes fin-

The Braves outscored the
Astros 21-4 in their first three-
game sweep of Houston since
2003. The modest winning
streak followed nine straight
losses, Atlanta’s longest skid in
almost four years. The losing
streak was capped by an 0-7
road trip.



Multi-





1






TUESDAY, MAY 4, 2010, PAGE 19





ished fifth in the BAISS track
& field competition, despite
lacking for numbers in certain
age categories.

Said Frank Coyle, head of
secondary at St Andrew’s:
“Like with academic results,
the true quality of our stu-
dents is realized due to the
work of excellent teachers and
coaches. The greatest resource
in a school is the teacher or
coach.”



“We needed to get on track,
we needed to get back to win-
ning games,” said Braves catch-
er Brian McCann, who scored
two runs. “That road trip wasn’t
us. We need to make sure it
was just a bump in the road.

“This was a big series for us.
Big, big series.”

Australia beats
Pakistan by
34 runs at
World T20

__ CRICKET



CASTRIES, St Lucia (AP)
— Shane Watson lashed 81
off 49 balls and Australia’s
pace attack followed up with
some incisive spells Sunday
to lead their team to a 34-run
victory over Pakistan at the
World Twenty20.

The 28-year-old Watson
slammed seven fours and
four sixes to anchor Australia
to 191 all out off 20 overs.
David Hussey provided an
explosive 53 off 29 deliver-
ies, containing two fours and
five sixes.

Left-arm fast bowler
Mohammad claimed 3-23 and
provided a dramatic final
over in which five wickets fell
for no runs to keep Australia
under 200. Off-spinner Saeed
Ajmal took 3-34.

Shaun Tait took 3-20, Dirk
Nannes claimed 3-41 and
Mitchell Johnson picked up
2-21 as Australia undermined
Pakistan’s chase, which end-
ed limply to be bowled out
for 157 in the 20th over.

Misbah-ul-Haq topscored
with 41, while captain Shahid
Afridi compiled 33 off 24
balls.

Pakistan, which beat
Bangladesh on Saturday,
ended the preliminary stages
with one win and one loss.

The final match in Group
A pits the Australians against
Bangladesh on Wednesday
in Barbados.

Earlier, Watson and David
Warner set the tone in an
opening stand of 51 off 5.4
overs after the Aussies won
the toss and batted.

Even when Warner fell for
26 off 18 balls and captain
Michael Clarke was gone for
2 at 64-2, Australia main-
tained its surge.

Watson, who survived two
difficult chances to Misbah,
passed fifty off 31 balls with
successive sixes off Moham-
mad Hafeez.



iscount Furniture

Whiens:

EXTRAVAGANZA

WEE K
Mondav Mav 3rd - Saturdav May 8th

15% Off Storewide
10% Off Appliances

Regular Discounted Prices Only



ON L Y



Shipment
of Linens
Arriving Daily

/

Rous
TO GO»



E

MULTI DISCOUNT FURNITURE AND APPLIANCES






YOU
CANNOT
BEAT OUR
PRICES NOT
EVEN IN MIAMI!




APPLIANCES BY FRIGIDAIRE
WE ACCEPT ALL MAJOR CREDIT CARDS

Montrose Avenue

Phone:

R@@MS
iKerees

(Just North of Bahamas Bus & Truck Co)

322-2536 ° 325-2040 ° 323-7756 ° 326-7494











Full Text


TRY li | \

Pim blowin’ it

ar
LOW

pbb.

uF eo
.
By rt
=H =
ne

we

Volume: 106 No.135

aU a)

87F
76F



The Tribune



ANY TIME...ANY PLACE, WE’RE #1





Beauty:

AA E

Sa

Prone into Killer
lornade ordered



Government announces
‘intensive’ investigation

THE government has
announced it will launch an
independent and “intensive”
investigation into the condi-
tions surrounding the death
of three Freeport Container
Port workers when a violent
tornado struck Grand
Bahama on March 29.

In the wake of the disaster,
which left dozens injured and
caused millions of dollars of
damage, the finger pointing
commenced. The PLP blamed
the FNM for closing the
Meteorological Office in
Grand Bahama, while gov-
ernment sources said there is
no doubt “negligence” at the
Met Office in Nassau was at

least partially responsible for
the extent of the catastrophe.

Workers at the Container
Port called into question the
safety regulations put in place
by Hutchison Whampoa,
which owns the facility.

Now, according to Minister
of Labour and Social Devel-
opment Dion Foulkes,
Jacques Obadia, an indepen-
dent occupational safety and
health expert, will look into
the claims.

In a press statement issued
yesterday, Mr Foulkes
explained that Mr Obadia,
whose services were secured

SEE page 17

Sit Shridath Ramphal writes two-part series

“CARELESS with CARICOM”, the first
of a two-part series, written by Sir ‘Shridath
Ramphal, appears on page 8 of today’s Tri-

bune.

Sir Shridath — better known as “Sonny”
Ramphal— is a truly Caribbean man, who
recalls the days when “for all our size we
stood tall; we commanded respect, if not

always endearment.”

Sir Shridath, a national of Guyana, is a
recipient of numerous awards and honours

from several countries, international bodies SUESMMUEMMEN EL

and academic institutions, including a knight-

hood from the Queen. He has served with distinction the people of
his nation, the Region and the wider international community in a

multiplicity of roles.

Sir Shridath received the honour of membership of the Order
of the Caribbean Community in the first conferment of 1992.

¢ TURN TO PAGE 8 FOR HIS FIRST ARTICLE

“ orde are) la ss

3-TOPPING PIZZA





BAHAMAS EDITION

www.tribune242.com

TUESDAY, MAY 4, 2010

eS
al

SS
SUS ws

USA TODAY.





To A Cup Of
ns ee)









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

Legends
UTE

SEE PAGE EIGHTEEN



Police constable is
charged with murder



Carey.

Carey’s death.

SEE page 17



A POLICE Constable accused of murder was
arraigned in a Magistrate’s Court yesterday afternoon.
Constable Kenneth Gibson, 29, of Sandilands, Village
Road, was arraigned before Chief Magistrate Roger
Gomez yesterday, charged with the murder of George

According to court dockets, Gibson, between Satur-
day, April 24, and Tuesday, April 27, intentionally caused

Carey, 21, was the victim of a stabbing incident in the
Wulff Road area near Lockhart’s Bar. Carey, a resident
of Bamboo Town, died from his wounds last week Tues-





POTCAKE OUT OF ACTION

WITH his leg in
plaster and his
famous hub cap-filled
trolley safely parked,
find out why the
Bahamas’ most
famous urban
commentator is
temporarily off

the streets.

e FULL STORY
ON PAGE TWO















‘Former St Augustine’s
College headmaster dies

A FORMER headmas-
ter of St Augustine’s Col-
lege, Rev Burton Bloms,

OSB, died at Saint
Raphael Hall’s Retire-
ment Centre, St John’s
Abbey, Minnesota, yes-
terday. He was 90.

Fast Track your plans...
with a Fast Track Loan.

The funeral service is
scheduled for May 7, at
3.30pm at St John’s Abbey
Church in Minnesota.

Father Burton first took
over aS headmaster of St

SEE page 17

Fidelity Bank Fast Track Loan

Decisions Fast « Money Fast « Plus Visa Credit Card Fast

Nawiaar 356.7760

Freeport: 752.6677

Marsh Harbour: $67 9155

Jit



NASSAU AND BAHAM/

ISLANDS LEADING NEWSPAPER

Alfred Sears
‘consults with
constituents’ on
whether to seek
re-election

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

PLP MP for Fort Char-
lotte Alfred Sears is report-
edly in consultation with his
constituents as to whether
or not to offer for re-elec-
tion for the area, The Tri-
bune has been told.

As a working attorney
with three children who are
off to university, sources
close to the MP said that it
would be difficult for Mr
Sears to spend an inordinate
amount of time outside of
his law practice, considering
the financial responsibilities

SEE page 20

US oil spill ‘may not
affect contemplation of
Bahamas exploration’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE oil spill spreading
throughout the Gulf of Mex-
ico may not affect govern-
ment's contemplation of oil
exploration applications in
Bahamian waters, said Envi-
ronment Minister Earl
Deveaux.

With an April 22 spill still
leaking thousands of gallons
of oil into the Gulf of Mexi-
co daily — as clean up crews
scramble to contain it — con-
cerns have been raised both
locally and in the United
States over the practice of
offshore drilling.

When these concerns
were put to him, Mr
Deveaux said more atten-
tion on offshore drilling
safety measures coupled

SEE page 20

‘me, atte!

EDUCATIONAL LOAN


PAGE 2, TUESDAY, MAY 4, 2010

LOCAL NEWS

Negotiations between COB.
and union moving slowly |

By AVA TURNQUEST
aturnquest@tribunemedia.net

NEGOTIATIONS
between the Union of Ter-
tiary Educators of the
Bahamas and the College of
the Bahamas continue to
move slowly — with just 10
negotiating days left before
external arbitrators are
brought in to expedite an
industrial agreement.

Two more sub-clauses,
dealing with paid study leave
and management/union rela-
tions, were signed yesterday,
bringing the total number of
sub-clauses completed to
four.

However, because these
cover only outstanding issues
attached to previously signed
clauses, the actual number
of clauses left to be negoti-
ated has not changed.

The institution has
remained tight-lipped about
the negotiation process with
the faculty’s union since talks
resumed on April 26, after

he
JENNIFER ISAACS-DOTSON



a three and a half day strike
forced both parties to agree
to a completion deadline.

The union has repeatedly
voiced its skepticism that an
industrial agreement can be
agreed by May 14, arguing
that the college’s post-strike
actions have not demon-
strated “good faith”.

The union is seeking legal
advice on a number of mat-
ters surrounding their con-

troversial industrial action
which started on the first day
of exams last month — name-
ly communication to faculty
from the college before the
strike and the subsequent
pay cut imposed on union
members afterwards.

Union president Jennifer
Isaacs-Dotson has said these
issues would not affect the
union’s efforts to achieve an
agreement, but some ques-
tion the possibility of success
considering the increasingly
hostile atmosphere.

It had been previously dis-
closed by both parties that
the clauses which present the
most difficulty deal with
appointments, promotions,
duties and responsibilities,
performance assessments
and salaries.

However, another possi-
ble setback — which the col-
lege has not acknowledged
—is an apparent lack of
agreement on the number of
clauses that are left to be
negotiated.

Because the process allows :
both parties to submit claus- :
es for discussion, it is difficult :
to ascertain just how many :
clauses are under considera- :

tion.

ber is actually closer to 50,

with some clauses yet to be
addressed despite having :

been submitted last year.

Meanwhile, the college :
commenced its search fora :
new president yesterday, giv- :
ing possible candidates just :
over a month to submit :

applications.

The search is being man- :
aged by a US firm, Academ- :
ic Search Inc, however with :
faculty-administration rela- :
tions still unstable, it is :
uncertain how the ongoing :
negative atmosphere will :
affect the submission process :
and ultimately the new pres- :
ident’s relationship with the :

union.

Although the college has :
specified there are only :
around 32 clauses left, the :
union alleged that the num- :

Home invasion,

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net



FREEPORT- Grand Bahama police
are investigating a home invasion, armed
robbery and attempted shooting which
took place in the Lincoln Green area
on Sunday.

Asst Supt Loretta Mackey reported
that at around 12.45pm, police were
summoned to Ludford Drive.

A 46-year-old resident told responding
officers that he was at home with a fam-
ily member and some house guests when
two gunmen broke into the house and
ordered them to the floor.




The suspects were wearing dark cloth-
ing, ski masks and gloves.

Ms Mackey said that as the victims
ran for safety the culprits fired shots at
them, however no one was injured.

Before fleeing the scene, the suspects
stole laptops, cell phones and cash.

Officers of the Central Detective Unit
are investigating the incident.

e A Grand Bahama man was
arraigned on drug, firearm and ammu-
nition possession charges in the Freeport
Magistrates Court yesterday.

Kirk Andrew Haven, 35, of Hawksbill,
appeared in Court Two before Magis-
trate Andrew Forbes. He was charged

armed robbery, attempted shooting investigated

with possession of an unlicensed firearm,

possession of ammunition, and posses-

sion of dangerous drugs.

Haven pleaded not guilty to unli- }
censed firearm and ammunition posses- :

sion.

prison.

Haven was granted $3,500 bail with :
one surety on the firearm and ammuni- :

tion charges.

The matter was adjourned to Decem- }

ber 7 for trial.

FOR ALL YOUR DECORATING

“Lowest Prices On The Island”


















FREE DELIVERY ANY WHERE IN NASSAU AND TO THE MAIL BOAT

elias i eR ies i

STORE HOURS:
Monday - Saturday
8:30am - 5:30pm

BILLY’S DREAM
STILL ALIVE

¢ E-Z CREDIT TERMS AVAILABLE

Donald's Furniture
And Appliance Centre

SIXTH TERRACE CENTREVILLE TEL: 322-1731 OR 322-3875

She washed with soap.

However, he pleaded guilty to pos- }
sessing drugs and was given a condi- :
tional discharge. The magistrate stipu- :
lated that he must be on good behavior :
for 12 months or serve one year in :

THE TRIBUNE





a re
POTCAKE takes time out to “suman EVI MNTSMcem INCRE



Street leeend
Potcake rests
after being
struck by car

By AVA TURNQUEST
aturnquest@tribunemedia.net

STREET philosopher and
mobile hub cap vendor Pot-
cake is being forced to take a
rest after being struck by a
swerving car.

The 56-year-old tourist icon
is confined to his home on
Balls Alley, off Shirley Street,
since an accident broke his
leg.

Potcake was travelling
along his customary east Bay
Street route, near the Depart-
ment of Agriculture, and had
stopped to take a break when
he said he felt a car slide into
his right leg.

Police are investigating the
incident.

Potcake was taken to
Princess Margaret Hospital
for treatment.

His leg was place in a plas-
ter cast and he is due to return
to PMH today for a surgical
procedure which will place a
screw in his knee to supple-
ment a bone displaced by the
accident.

The street legend claims the
enforced rest is costing him

an average of $700 in lost
income. He is also worried
about the cost of today’s med-
ical treatment.

“IT don’t know what the
future will hold,” he said. “Tl
find out when I get there.

“Tm losing all kind of mon-
ey, especially over the week-
end. Plenty people know
where I live though so when
they don’t see me on the
street they come to my house.

“T feel like I’m in prison,”
he said, “I used to go to the
beach every morning, but now
I can’t go anywhere.”

His hub cap-filled trolley
and social commentary mes-
sages written on cardboard
have become an active pres-
ence on East Bay Street and
Shirley Street, and though he
is currently unable to publicly
display his work, he admitted
that has not stopped creating
his messages.

He said: “I’ve been writing
since I came out of the hospi-
tal. All I do is sit on the porch
and write, listen to the radio
and read The Tribune news-
paper. As long as I’m keeping
busy time just flies.”







POTCAKE’ $ iconic hub cap- filled trolley is out of action while he

recovers from his injury.



See the difference?

Soap leaves scum.

Dove doesr''t.

ewiten to Dove Bar with
14 MoSwNZing Cream for
softer, smoother skin.



find Deve at your
TaVvOuribe food store.







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


THE TRIBUNE

LOCAL NEWS

TUESDAY, MAY 4, 2010, PAGE 3



0 In brief

Teacher accused
of indecently
assaulting

girl aged 10

A MALE Primary
School teacher accused of
indecently assaulting a 10-
year-old girl last year was
arraigned in a Magistrates
Court yesterday.

Marvin Sands, 32, of
Robinson Road, was
arraigned before Magis-
trate Subu Swain in Court
11, Nassau Street, accused
of “fondling” a sixth grade
student in December 2009.

Sands, a music teacher,
pleaded not guilty. He was
granted bail in the sum of
$7,000 with one surety. His
case has been adjourned to
October 14.

Rum Gay man, 37,
charged with rape

A 37-year-old Rum Cay
man was arraigned ina
Magistrates Court, charged
with raping a woman in
August of last year.

William Gaitor is
accused of committing the
offence on Tuesday,
August 18.

The accused, who was
arraigned before Magis-
trate Derrence Rolle-Davis
in Court Five, Bank Lane,
was not required to plead
to the charge.

Prosecutor Sergeant
Sean Thurston objected to
Gaitor being granted bail.
He is expected back in
court today.

Container ship carrying
hewsprint runs aground

A CONTAINER ship car-
rying rolls of newsprint for
The Nassau Guardian and
The Tribune has run
aground near Bimini.

According to the director
of corporate communica-
tions at Crowley Shipping,
Mark Miller, the Stat
Hanover vessel is under
charter by Crowley from its
German owner/operators.

Currently, the vessel has
66 containers onboard, and
according to Mr Miller, all
of the various customers
affected have been notified
of the situation.

While the ship remains
stranded near Bimini, Crow-
ley has already chartered
another vessel on a short
term basis to accommodate
its other clients.

As for the salvaging of the
materials and the Stat
Hanover itself, Mr Miller
said that this responsibility
will fall on the German own-
ers.

The Stat Hanover is not
considered a particularly
large ship by comparison to
today’s mammoth vessels
which can carry thousands
of containers.



q ‘ 1 i . =.
om ie | ‘ e

Take 20% OFF White:

Crepe Backed Satin, Lamour
Heavily Embroidered Eyelet, Lace,
Romie Linen, Poplin, Brocode & silk

* Red and White Cornations for Corsages _.
* White Gloves starting at - -

« New Pearl Neckloce Sets

* Giont Mother's Day Cords from

* Potted Orchids and Roses

(eo pian, pour have fo foul lieu

* New Candle sets, Mugs, Mother's Day bears

By TANEKA THOMPSON



Spanish Wells, added that the

the lobster season - a popular

Oil spill leads to poaching fears

Tribune Staff Reporter
tthompson@tribunemedia.net



THE massive oil spill spread-
ing in the Gulf of Mexico may
lead to an influx of American
poachers to Bahamian waters,
fears the chief of the Bahamas
Commercial Fishers Alliance.

BCFA president Adrian Lar-
oda said his organisation sent
out a warning notice to its mem-
ber fishermen to be on the look-
out for an increase in poachers
whose fishing beds have been
affected by the growing oil spill.

On Sunday the US govern-
ment placed a 10-day ban on
fishing from the Mississippi Riv-
er to the Florida Panhandle as
thousands of gallons of oil con-
tinues to flow from an oil well
which ruptured on April 22.

There are reports that Amer-
ican fishermen in Louisiana, one
of the top US seafood produc-
ing states, are already feeling
devastating effects from the
spill. According to Mr Laroda,
this is cause for heightened vig-
ilance. "Because of our fisheries
being open we are ripe for
exploitation - we can have a lot
of Gulf fishers coming to the
east coast," said Mr Laroda,
adding that the BCFA has not
yet seen any evidence of
increased poaching from Gulf.
"Most of the fishermen out







A PORTUGUESE Man-o- War is seen in Fr cluinbe of oil in the waters in Chan-

deleur Sound, La., Monday, May 3, 2010. Fish and wildlife are vulnerable

to the oil spill.

of the Gulf are deep water fish-
ermen and long line fishers
which is outlawed in the
Bahamas. But desperation dri-
ves people to do all sorts of
things,” he continued. "We are
watching, we put out a circular
to our fishers on Saturday espe-
cially those working the Great
Bahama Bank (area). It's too
early to tell but we'll see what
happens by the end of the
week.”

Fishing experts contend that
poachers plunder millions of
dollars worth of valuable marine
life from Bahamian waters
every year and is 90 per cent of
the fishing industry's complica-
tions. While Dominican poach-
ers are said to be the greatest
concern to industry regulators,
Mr Laroda said in the past, the
industry has suffered from

Cabbies concerned over |
possible limit on access to
Atlantis’ Royal Towers



By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



A PROPOSED policy
change that would limit taxi
access to the Atlantis’ Royal
Towers has some cab drivers
concerned they will lose income.

As of Friday, only private
vehicles and taxis carrying hotel
guests or those who purchased
hotel tour packages will be
allowed to pull up to the Royal
Towers entrance on weekends.
All other taxis will be directed
to the Coral Towers entrance
on Friday, Saturday and Sun-
day. The decision came after
negative feedback from guests
who complained of heavy foot
traffic in the resort's lobbies —
traffic the hotel attributes to an
increase in cruise ship passen-
gers to Nassau — said a company
notice obtained by The Tribune.

One irate taxi driver told The
Tribune that the shift will
undoubtedly slash cab drivers’
income explaining that many
cruise ship passengers opt for a
taxi city-wide tour — which
includes a stop at Atlantis —
over the hotel's official, and
more expensive, tour.

The driver feels the change
will dissuade cruise passengers
from purchasing taxi rides to
Atlantis leaving tourists who
want to see the Royal Towers'
attractions on the weekend with
the only option of buying a
hotel tour.

"This is going to kill us. A lot
of my passengers just want to
go to the hotel and take some
pictures. They don't want to
spend $100 and something dol-
lars per person to tour the hotel.

"They (Atlantis) are basical-
ly saying (non-guests) can go to
the casino and lose all their
money but they don't want

% OFF ENTIRE



them to look at their aquarium.
They're not making any money
off the taxi drivers because our
people are only taking pic-
tures,” said the 20-year taxi
operator who did not want to
be named. "What they are try-
ing to do is stop us from making
a living,” said another taxi dri-
ver who also chose to remain
anonymous. "We already feel
the recession and some of us
have mortgages and children in
private schools."

When contacted for comment
yesterday, Senior Vice-presi-
dent of Public Affairs Ed Fields
told The Tribune that hotel offi-
cials will be "having discussions
to address (taxi operators’) con-
cerns" early this week. He
reserved further comment.

The hotel's notice to public
service drivers said, "In an
effort to ensure the best possi-
ble experience for our hotel and
paying excursion guests Atlantis
will be restricting access to cer-
tain areas of the resort begin-
ning May 7".

The notice also says that as of
this date, non-hotel/non-excur-
sion guests will be able to access
the Marina Village shopping
area, the Coral and Beach Tow-
ers' lobbies and the casino —
but will not be allowed to enter
the Royal Towers lobby and its
Ruins exhibit between 7 am and
7 pm. According to the notice,
the restrictions will only apply
on Fridays, Saturdays and Sun-
days "in the beginning" to "cor-
respond to our higher occupan-
cy and check-in/out periods."

The notice adds that the hotel
will "monitor and evaluate the
impact of this change on our
business and guest services and
advise you if any adjustments
are required."

The letter also says the prop-
erty plans to reintroduce com-



STOCK OF WHITE FABRIC












Pe ean vali re De ae

ae Lae

EOC a POPUP O PARI UES CUR od Pwo LR a a vd) YY Ey



Hats off to the Ladies:
New white and pastel hats far
Mother's Day

Decorated and Undecorated

[



Americans as well. Meantime,
as environment stakeholders
monitor the spill's develop-
ments some fishing industry
insiders are doubtful the
Bahamas will be able to cap-
atalise on any possible increase
in demand for exported seafood
into the United States.

"The export of seafood from
the Bahamas is a very regulated
activity and it's not very simple
to get seafood legally exported
from the Bahamas. There are
lots of requirements that must
be met - first of all there has to
be an export license (granted
from the Ministry of Agricul-
ture) and the seafood has to be
of the required standard," said
Director of Marine Resources
Michael Braynen.

Abner Pinder, chief coun-
selor of fishing community

VERS Ci Eley

missions — at a rate of $3 per
passenger — to taxi drivers who
refer their passengers to an
Atlantis tour or day pass.

Messages left for Leon Grif-
fin, head of the Taxi Cab Union,
were not returned up to press
time.



eB Bose
Fertilizer, Fungicide,
Pest Control
Tropical Exterminators
hi ra aly |

Bahamas most likely would not
be able to supply any increased
demand for fish export.

"I don't think we Bahami-
ans are catching enough fish to
justify an export market when
(even our) hotels are importing
the fish," he said, adding that
































Now

MOM is SURE
to look
FANTASTIC

this

MOTHER'S DAY

ina sclection

by
Donna Morgan

lets
Arrivals
weekly



Established in 1936 by an old Bahamian family

export - is closed until August.

According to Mr Laroda
there are about six to seven
local companies that export
seafood into the United States.

@ SEE PAGE SIX:
What Tribune readers say



Parliament Street (near Boy St.) Tel: 3E2-8999 or SET (57
« Pan: gOS
Crystal Courd at Athantis, Paradise Istand Tel: 36341612



Lafond Cay (Harkour Geen Shops at Lytord Can)
Tel: 362-5253

e-mail: info enlesninaxsaucom
www.coleninaeesucom " PA), teas WIZ]



The Bahamas Electricity Corporation
invites the public to a

TOWN

MEETING

on

PROPOSED TARIFF
ADJUSTMENTS

Thursday, May 6, 2010 at 7:00pm
L.W. Young Junior High School,

Bernard Road

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


PAGE 4, TUESDAY, MAY 4, 2010

THE TRIBUNE

No animal has

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

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

Time to rethink oil drilling in the Bahamas

WORLD WAR I was supposed to have
been the “war to end all wars,” until 21 years
later the mistakes made around the negoti-
ating table of that war spawned World War
II. Since then the world has been involved in
many skirmishes of varying proportions.

A few minutes past midnight on March 24,
1989 the oil tanker Exxon Valdez struck a
reef in Alaska’s Prince William Sound,
spilling 11 million gallons of crude oil over
470 miles, leaving behind an environmen-
tal nightmare that the world had never seen
before — and hoped it would never see
again. The initial cleanup took three years
and cost more than $2.1 billion. The deadly
toll on wildlife will never be known.

As a result of the Valdez accident an
unsuspecting public would no longer believe
a corporation’s word that its operations are
completely safe.

The Alaskan disaster resulted in tighter
environmental regulations being imposed
on various industries. “The most important
regulation attempting to protect against a
repeat of the spill,” said one report after the
accident, “is the modern standard for tanker
ships, which now must be built with double
hulls, so that if the outer skin is punctured,
no oil will leak.”

Ostensibly the Valdez was an oil spill —
like World War I — that was to end all oil
spills of such magnitude. But then there was
April 22 — just 11 days ago — when BP’s oil
rig exploded in the Gulf of Mexico, spewing
out an estimated 200,000 gallons of oil a
day, with still no sign of letting up. Eleven
persons were killed. Ironically, the chaos
erupted as the world celebrated Earth Day.

According to reports BP hopes to deploy
a giant, 40-foot steel funnel within the next
few days to attempt to trap much of the
leaking oil at source. However, while the
technique has worked in shallow water, it has
never been done under a mile of ocean.

It is forecast that this spill will be far
worse than the Exxon Valdez tragedy and
will threaten even more extensive areas,
killing wildlife, destroying beaches, and anni-
hilating the livelihood of hundreds of fish-
ermen, and allied businesses. Bahamians are
holding their collective breath that the wind
currents don’t shift, sending the oil splashing
on our shores.

Although, now is not the time for finger-
pointing as every resource is being used to





Quality





Auto Sales
PRE-OWNED CARS

and TRUCKS

pt
CAR SALES ACCEPTED

Check Out Ihese Great Values

stop the flow and spread of the life threat-
ening oil, shortly after the explosion it was
suggested that BP’s oil rig did not have what
is known as a blow-out preventer. It was
claimed that cost was a consideration. How-
ever, as the news continued to flow as fast as
the oil, it was reported that although BP
had the preventer, the equipment had mal-
functioned.

Apparently, blow out preventers, which
would have capped the spill, are mandatory
in Norwegian and Brazilian offshore oil
drills, but not in oil drills off the United
States. It was claimed that regulation of
these drills are not sufficiently strict.

This was a spill that after the Valdez was
not meant to have happened. But it did.

In May last year it was predicted —
almost jubilantly — that the Bahamas could
be an oil producing company within 10 years.
As far back as we can remember oil compa-
nies have been poking around in our waters
prospecting for oil. So far nothing has been
found. In view of what is now happening in
the Gulf, it is probably a blessing, and could
be a warning that fate should not be tempt-
ed.

In March, when asked about the two
companies that have raised £2.4 million to
increase working capital to invest in deep
water drilling in the Bahamas, Phenton Ney-
mour, minister of state for the environment,
said the government was “proceeding cau-
tiously.”

In view of what is happening in the Gulf,
we suggest that government turn its back on
oil and think in terms of more environmen-
tally sustainable methods to provide our
needs.

Remember there has never — and will
never be a war — to end all wars, unless it is
the final war. Nor will there be an oil drilling
accident that will end all such accidents. But
if we don’t take heed and realise that no
matter what proud Man believes, it is Nature
that has the last word, an oil drilling accident
in these waters could be the final curtain on
a Bahamas that we once knew.

It is true, that an oil find in our waters
would mean tremendous wealth, but it could
also mean tremendous tragedy.

And as we should all know by now, mon-
ey is not everything — as a matter of fact one
wise man warned that it is “the root of all
evil.”







responsible for



ever been abused

or mistreated at
Noah’s Ark Zoo

EDITOR, The Tribune.

I would like to respond to
the letter in yesterday’s Tri-
bune written by “Hope for a
Change”, in which there
were a number of utter lies
regarding Noah’s Ark Zoo.

First of all, the zoo has
only been in existence for
five years, not 30 years as
erroneously suggested.
Noah’s Ark Zoo has been a
shelter and a haven for a
number of “over the hill”
animals during that period
of time. We have trained
and groomed pets and edu-
cated people on how to care
for their animals and treat
them with love.

Unfortunately there are
groups in this country who
think poor people cannot
show the same love that the
rich and elite can show and
would prefer to take away
animals from poor people,
to give to the high society in
Camperdown and Lyford
Cay rather than educate.

In defence of the Canine
Unit, we believe they do a
great job at performing their
duties with the resources
that are handed to them.
Who is this Canadian to
decides the standards by
which we should operate
our facilities on the
Bahamas? Do we accuse
someone of being cruel to
their children because they
cannot provide them with
million dollar homes, send
them to elite schools, feed
them caviar and dress them
in expensive clothing? Do
we expect a child whose par-
ents live in Bain Town to be
afforded the same privileges

LETTERS

letters@triounemedia.net



as the child who lives in
Lyford Cay? It’s the love
and attention that we give
our children and our animals
that counts!

The proper way to deal
with these situations is not
to try and take away, or put
animals to sleep (for reasons
other than serious medical
ailments) or to be prejudice
about where they live, but
to educate the public and to
put in place a strong neuter
programme.

I challenge the person
who wrote the letter to
prove that there has been
animal cruelty to any ani-
mal at Noah’s Ark Zoo. In
any zoo setting, there will
be animals who are well and
those who are not so well.
Many times animals when
brought in the country ini-
tially go through a period of
adjustment and stress to a
change in weather and feed,
and sometimes they even
loose weight. With the prop-
er treatment, they eventual-
ly get well and thrive. At no
time at Noah’s Ark Zoo has
any animal ever been mis-
treated or abused.

Noah’s Ark is a shelter
and a haven area for over
the hill animals. We often
get neglected animals, which
we rehabilitate and then we
educate people about how
to care for them, and return
them to their owners. We
comply with rules and regu-
lations regarding animal

imports. Our intention is
that Bahamian children over
the hill will be able to enjoy
the sights and sounds of
domestic and exotic animals,
the same privilege that any
child living on the Eastern
Road or Lyford Cay is
afforded.

The Canadian visitor
mentioned in the newspa-
per, came to the Noah’s Ark
Zoo during our renovation
period, with two ladies from
Camperdown. Business has
been slow, and they offered
to assist by providing spe-
cial feed that would put
weight back on a particular
horse (a coveted “painted
stallion”) that had under-
gone stress in transit to Nas-
sau, and when we went to
purchase the feed, they
refused to sell the feed to us
or answer the phone. In the
words of one of the ladies,
“What do you have this
horse for? Give me this
horse!”

We have worked very
closely with the Bahamas
Humane Society and The
Bahamas Agriculture
Department during the past
five years since we have
been open. I would love to
see The Bahamas Govern-
ment establish some basic
criteria by which we can be
guided, so that Noah’s Ark
Zoo can prove that we are
up to standard and are not
judged by some foreigner
who is clearly trying to
destroy what we have
worked so hard to achieve.

NOAR’S ARK ZOO
Nassau,
April 22, 2010.

Dr Andre Rollins is undoubtedly one of
the more qualified aspiring politicians

EDITOR, The Tribune.

I noted with interest an edi-
torial in the Saturday, April
10th edition of The Nassau
Guardian and would like to
offer my comments re: Young
Politicians Beware.

I came to know Dr Andre
Rollins some time ago when
he wrote an interesting and
provocative letter to the Edi-
tor. Since then, we have come
into contact with each other
on several occasions. I would

NOTICE

NOTICE is hereby given that
of SUNLIGHT VILLAGE OFF EAST STREET, P.O. BOX
SB-50243, NASSAU, BAHAMAS
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,
written and signed statement of the facts within twenty-
eight days from the 27 day of April, 2010 to the Minister
nationality and Citizenship,
N-7147, Nassau, Bahamas.

STEVENSON ROMEUS

is applying to the

should send a

P.O. Box



tell him, I have an application
for him to join the Free
National Movement and he
would say to me, he has an
application for me in St
Thomas More. One can easi-
ly argue that Dr Rollins has
done a pretty good job of pro-
moting himself during the lim-
ited time he has been on the
political scene. Obviously, he
possesses some potential and
he may have the wherewithal
to be a good politician in this
environment. The quality of
the character of today’s politi-
cians I believe is pale in com-
parison to those of yesteryear.
Ihave always maintained and
still do, that there is no future
in this country for a third par-
ty. You need only ask Dr
Bernard Nottage, Phenton
Neymour and Charles May-
nard. The Editorial questions
Dr Rollins’ integrity. The
question of integrity does not
arise. If he gets a nomination
with one of the major parties
in 2012 no one will remem-

To meet the challenge of operating our growing business, we wish to recruit a:

Chief Operating Officer

ber his harsh criticism of those
parties. This is sad because
you now have to question the
integrity of the voter. Does
the average voter possess any
integrity?

In my opinion, Dr Andre
Rollins is undoubtedly one of
the more qualified aspiring
politicians not sitting in par-
liament.

So, it does not surprise me
that the two major parties are
courting him.

I do not believe his integri-
ty will come into question
should he join one of them
nor do I believe he will have
to look over his shoulders in
the future. When one looks
at the political history you will
note that the politicians who
jump ship read like a who’s
who in politics, from Whit-
field to Bostwick, to Foulkes
to Ingraham.

PAT STRACHAN
Nassau
April 12, 2010.

06 HYUNDAI SONATA

01 HYUNDAI ELANTRA

05 HYUNDAI SANTA FE
"97 VOLKSWAGON BEETLE
"98 HYUNDAI COUPE

01 MAZDA MPV WAGON
"99 PLYMOUTH VOYAGER
03 DAIHATSU TERIOS

03 HYUNDAI H1 VAN

00 HYUNDAI ACCENT

a U to SD
i QUALITY: @
7 LIMITED i.

#1 AUTO DEALER IN THE BAHAMAS
EAST SHIRLEY STREET * 322-3775 ° 325-3079

Visit our showroom at Quality Auto Sales (Freeport) Lid for similar deals, Queens Hwy, 352-6122
or Abaco Motor Mall, Don MacKay Blvd, 367-2916

OPEN: Mon to Fri 8:30am - 5:30pm e Sat 8:30am - 12:30pm

Main responsibilities: — Responsible for the daily operation of the Bank

Reports to the Managing Director

Support and advise the Managing Director in decision making
Running of all back office functions

Direct and administer all financial plans

Organizational reporting and monitoring

Oversee business policies and accounting practices
nformation technology












Ideal Profile: Strong operational and administrative experience; Ideally several
years experience as Chief Operating Officer

— Fluent in English and French; fluent in German an added benefit
— Higher Education

— Strong organizational and management Skills

— Ability to lead, plan, multi-task and manage change



What we offer: — A salary which is commensurate with the job,
a pension plan and medical insurance.

We will only reply to candidates that fully match our requirements listed above, please send your resume and reference to:
SYZ & CO Bank & Trust LTD. | Attention Jillian Ferguson (jillian.ferguson@syzbank.com) | Tel: (+1 242) 702 14 00
P.O. Box N —1089 | Bayside Executive Park | West Bay Street & Blake Road | Nassau, Bahamas







E>

SEER

www.syzbank.com

SYZ s& CO
BANK & TRUST




THE TRIBUNE

Large increase in tourists from
China ‘unlikely in near future’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

DESPITE a projected
annual growth of 10 to 15
per cent in the Chinese
outbound tourism market,
Chinese Embassy officials
in Nassau, say they do not
expect a large increase in
Chinese tourists to the
Bahamas in the near
future.

Jian Tan, chief of the
commercial section in the
Embassy of the People’s
Republic of China in Nas-



THIS JITNEY crashed

into a wall on Satur-
day afternoon on
Shirley Street. There
were passengers
onboard, however,
despite an ambulance
being called to the
scene, there were no
reports of any injuries.

























Chinese Embassy says high
cost of travel and lack of
direct flights are barriers



SOUL iea BL aa

Badash Crystal
Arc Glass & Crystal
Circle Glassware

sau, said the high cost of
travel between the
Bahamas and China and
the lack of direct flights
are two major barriers to
travel.

He said countries like
Thailand, Singapore, and
Indonesia have benefited
from the increase in Chi-
nese travel abroad.






“Of course the Chinese
people would like to trav-
el to this beautiful coun-
try. All Chinese people
know the Caribbean is one
of the most beautiful
regions in the world. Of
course, for some of the
rich Chinese people, it is
easy for them to come
here, but for most of the

































common Chinese people,
they are just at the begin-
ning stage of visiting the
countries near to China
because it costs must less,”
said Mr Tan.

Mr Tan said the lack of
direct flights between Chi-
na and the Bahamas is
another problem, because
Chinese visitors have to
apply for transit visas, usu-
ally to the United States
or the United Kingdom, in
addition to applying for
Bahamian visas.

Some progress was
made recently with the

“ Zion





Jewelry Boxes
Handbags
Picture Frames
Artificial Flowers
Gift Baskets

from Max's

TUESDAY, MAY 4, 2010, PAGE 5

LOCAL NEWS









(above) in the 2010 Shanghai
World Expo (right).

Bahamian visa application.
The recent opening of a
consular section at the
Bahamian Embassy in
Beijing reduced the wait
time for Bahamian visas
for people in the Asian
region to less than a week.

Previously, visa applica-
tions were made via the
United Kingdom's diplo-
matic mission in Beijing,
forwarded to the Bahamas
for processing, and sent
back to China.

“IT think maybe in the
future there will be some
change; the airlines will
talk about direct flights in
the future. And also after
the Baha Mar project is
done, we can expect they
will do an attractive job to
bring more Chinese
tourists. I think the infra-
structure of tourism will
be improved after they
have that especially on this
island,” said Mr Tan.

The Bahamas govern-
ment is implementing
measures to promote the
Bahamas to Chinese trav-
ellers, despite some of the
unfavourable realities.

Late last month, Wu
Bangguo, Chairman of the
Standing Committee of
the National People's
Congress of the People's
Republic of China, visited

THE BAHAMAS is participating







the Bahamas to sign sev-
eral agreements with
regard to roadwork,
investments and technical
cooperation with the
Bahamas government.

The increased coopera-
tion between both coun-
tries is expected by some
to produce positive results
in the tourism market.

The Bahamas’ participa-
tion in the 2010 Shanghai
World Expo is also expect-
ed to increase the coun-
try’s profile in the Asian
market and create new
opportunities for travel to
the Bahamas.

ie
EXTERMINATORS

etRH UE
PHONE: 822-2157



The Department of Statistics is conducting its Annual Business Establishment
Survey from May until the end of September, The survey requires

that businesses and institutions provide the following information;

|. Number of employees

2. Wages & salaries

3. Annual hours worked

4. Revenues & expenditures
5. Depreciation & acquisitions

The data generated fram the survey is used te measure each sector's
contribution of national output, and provide information essential to the
estimation of national ingore and the gross national product of The

Bahamas.

lf you are involved in the the production of goods and services, you can help
contribute to our national income by completing the Annual Business
Establishment Survey questionnaire accurately and in a timely fashion.










¢ Godinger Silver
¢ Gibson Dinnerware POPTONERIE NEW PROVIDENCE GRAND BAHAMA
¢ Studio Silversmiths questionnaires ee epee ae
° . ULE i Darling Highway ‘ he
Giftware April 30th-May 8th, 201 0 returned to the eee Li ee
erat | lassi, Balrarias Freeport, Grand Bahama

tae ia ee

Tek 325-2067 | Fax: 326-0379 Tek 352-7196 | Faxcd 52-6120



1G aan

elt
emu M RUE net i)
rtd PAUL Ab tony

Now open 7am

Se oe "Help Your Sector And Our Nation's Progress"

SCRE VZ-Va CL Cw 10 09
Fax: (242) 393-4096

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

BT
Sado ae eat)
PAGE 6, TUESDAY, MAY 4, 2010

THE TRIBUNE



New $4 million
power system
commissioned on
Grand Bahama

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - The Grand
Bahama Power Company has
completed construction of new
69-kv line and Sub-Station in
East Grand Bahama at a cost of
some $4 million. The new
power system will significantly
improve the quality of electric-
ity in the area, especially for
the residents in East End.

Minster of National Insur-
ance and Housing Kenneth
Russell, MP for High Rock,
attended the official commis-
sioning on Friday of Sub-Sta-
tion 7, which is located near the
South Riding Point Oil Termi-
nal.

Minister Russell commend-
ed the Power Company for
making such a large, but neces-
sary investment in East Grand
Bahama, where there is great
potential for future develop-
ments.

“While this power system is
geared to satisfy the needs of
many customers, we want to
invite all new businesses
because East Grand Bahama,
from the Lucayan Waterway to
Sweeting’s Cay, is the new ter-
ritory for development in
Grand Bahama,” he said.

“We will see many new
developments in the days and
years ahead to come, and many
of them are already on the
books right now being consid-
ered.”

Mr Russell indicated that the
new system will greatly facili-
tate development at STATOIL,
the new owners of South Rid-
ing Point oil terminal.

He noted that residents in
the area experienced numerous
dips and spikes in electricity
due to increased operations at
South Riding Point. This, he
said, resulted in damage to
household appliances.

“Statoil is on its own switch-
es (now), so when they start up

Pid

LOCAL NEWS



WN NIN ‘

1)





A NEW 69KV LINE and
sub-station was com-
missioned on Friday in
East End Grand
Bahama by the Grand
Bahama Power Compa-
ny. The new system,
which cost some $4
million to construct,
will significantly
improve the quality of
electricity in the area.
Seen from left are Don-
ald McCartney, senior
official at the Public
Service; Bradley Arm-
brister, local govern-
ment representative for
the area; Senator David
Thompson, GBPC CEO
Alan Kelley, Minister
Kenneth Russell, MP
for High Rock; Paul
Lockhart, director of
transmission and dis-
tribution at GBPC; and
Rev lan Clarke.





their pumps residents will feel
no negative impacts as we did
before,” he said.

Achievement

The construction of the new
69,000 volt line and Sub-Sta-
tion was built entirely by the
all Bahamian work crew at the
GBPC — a significant achieve-
ment for the power company.

The 26-mile volt line runs
from Fortune Bay Drive in
Lucaya to the new sub-station
at South Riding Point.

Paul Lockhart, Director of
Transmission and Distribution,

said the sub-station was con-
structed at a cost of $1.2 mil-
lion, and volt line at a cost of
$3.2 million.

“This power system rivals the
best and is capable of providing
this entire region’s needs for
high quality power for years to
come,” he said.

Mr Lockhart noted that the
old distribution line was severe-
ly challenged in meeting the
area’s total demand, especial-
ly when the oil terminal was
operating at full capacity.

The Power Company, he
said, embarked on the project
for a new power system in East
Grand Bahama, in 2006.

“There are several notable
attributes to this: it is the
longest transmission line ever
built entirely by our construc-
tion crew.

“Secondly, it is the only high
voltage line in Grand Bahama
that has a submarine section
that dips out at the Grand
Lucayan Waterway and it
serves our most remote sub sta-
tion 7.”

CEO Alan Kelley said the
new system was built not only
to accommodate future growth
at SRP, but to also provide sup-
port for the new College of the
Bahamas campus, which is
expected to be completed in

August.“The campus will be
opening in August of this year
and one of our jobs was to
make sure this work was done
prior to that opening.

“It also provides for further
growth in East End and high
quality services for residents in
the East End of the island,” Mr
Kelley said.

Mr Kelly stated that Grand
Bahama Power Company has
a vision- “to be the leader in
the island-based energy indus-
try.”

“We don’t see ourselves
there yet, but in five years or so
that is where we would like to
be,” he said.



if
TEER OI Ca
TROT ACTS Tt i

NT TTS









(AP Photo/Michelle Rolls-Thomas)





CONTRACTORS move sand pumped in through a dredge pipe in
Little Lagoon Monday, May 3, 2010 in Gulf Shores, Ala. The sand
is being piled along side Little Lagoon Pass so it can be moved
into the pass keeping oil from moving into the lagoon.

Following the major oil spill in the Gulf of Mexico, Tribune
readers have voted in favour of the Bahamas rejecting all appli-
cations for exploratory drilling permits in local waters.

The latest poll on tribune242.com asked online readers how
they thought the government should react to the two or more
foreign companies hoping to find oil in the Bahamas.

Of the 172 readers who responded, 107 said the Bahamas
shouldn’t be getting into the oil business, while 65 said the
permits should be granted.

Commenting on the poll, Inquiring Mind said: “Tt is often said
that when entering a business, you should pick a profession that
you will enjoy. In this case, we will not enjoy any benefits in the
tourism sector of our economy if there was an oil spill, which can
take years before the damage is reversed. While I may like to
see a well-diversified Bahamian economy, we cannot bite the
hand that is feeding so many of us.”

Open Mind responded, saying oil is better than tourism, and
may bring in more investors.

The reader argued that the “hand” feeding the Bahamas is
only distributing “bread crumbs”.

“Tourism prospers the few Bahamians, not the many. The
majority get the trickle. So how can our economy really be
diversified with two industries — tourism and banking? No
wonder why some people turn to a life of crime as a career to
profit and prosper.

“If we have oil, that’s more money in the economy and an
additional career option to choose from instead of just the
main two. The overfow of the oil money can go into a fund for
emergency or oil spill prevention.”

However, according to Erasmus Folly, tourism is by far the
better choice, as oil is the epitome of an industry which con-
centrates wealth in the hands of a few — as demonstrated by
“10,000 Saudi princes, dictatorship in Venezuela, ethnic strife in
Nigeria, US occupation of Iraq, theocratic regime in Iran, dic-
tatorship in Russia, rife corruption in all oil producing states.”



I



284 Bay Street, Nassau, Bahamas
Telephone: (242) 302-2800
Palmdale ¢ Mall at Marathon













ee

a el ee

(AP Photo/Alex Brandon)
A PORTUGUESE MAN-0-WAR is seen in clumps of oil in the
waters of Chandeleur Sound, La., Monday, May 3, 2010.

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










THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 7

LOCAL NEWS

Woman starts

petition against

noise pollution
in the Bahamas

By AVA TURNQUEST
aturnquest@tribunemedia.net

A WOMAN, after she and
her neighbours suffered
another sleepless night
because of a loud and late-
running musical concert, has
started a petition for stronger
legislation against noise pol-
lution in the Bahamas.

Barbara Donathan-Hen-
derson, 49, of Killarney,
penned the petition early Sat-
urday morning as a Friday
night reggae and Bahamian
music concert held at Arawak
Cay — which reportedly con-
tinued until 6.22am on Satur-
day — left residents from “fish-
fry to Oakes Field, all the way
to Highland Park and all sur-
rounding areas” very upset.

Since then the petition has
collected more than 268 sig-
natures.

As a hotline operator in
the Killarney Constituency,
Ms Donathan-Henderson
explained that she routinely
receives noise complaints
from residents who express
their frustration at noise levels
from night clubs, beer festi-
vals, music concerts and pri-
vate residential parties.

She said that not only is
existing legislation governing
noise pollution inadequate, it
is not properly enforced or
adhered to and provides no
penalties for repeat offend-
ers.

The online petition read:
“Ts it necessary for people to
have a function that the entire
nation can hear? We know
that the island is small so can
someone at least insist on a
law that controls the level of
noise from these events? This
is not a first!

“Complaints have been
made to MP's in numerous
areas and the issue seems to
be getting worse and worse!”

Noise pollution is not reg-
ulated under the Ministry of
Environment, however, due
to the number of complaints
received, Environment Min-
ister Earl Deveaux said he
recently wrote the Commis-
sioner of Police with possible
solutions to what he considers
to be a problem of sensitivity,



not lack of legislation.

He advised the police to
establish zones with relevant
decibel level limits for each
zone, differentiating regula-
tions for public spaces and
neighbourhood areas. Limits
could then be further reduced
after a certain time period.

Current protocol for host-
ing a public event demands
that organisers must obtain
the relevant permit from the
licensing authority. The per-
mit would then stipulate the
time restrictions for the event,
however Royal Bahamas
Police Force Press Officer
Chrislyn Skippings confirmed
that it would not necessarily
stipulate the noise levels for
the duration of the event.

Mrs Donathan-Henderson
said: “They (police officers)
told me that they had
received numerous calls about
the noise but they couldn’t do
anything because the organ-
isers had a license and it does-
n’t specify what time they
have to close or how loud the
music can be — so basically
their hands were tied.

“Nobody seems to be able
to do anything about it. ’m
not saying that people should-
n’t have fun and enjoy them-
selves, but if I live three miles
away I shouldn’t have to hear
what’s going on. It’s not just
an annoyance, its a health
hazard.”

Interested persons can find
more on the petition online at
www.againstnoise.com.

Man gets a three-year

sentence after guilty plea

A 27-YEAR-OLD Andros man was given a three-year
prison sentence yesterday after pleading guilty to breaking
into a resort on that island and stealing from tourists.

Lancelot Green of Mangrove Cay was sentenced to three
years on a housebreaking charge and two one year sen-
tences on stealing charges in one case and another three year
sentence on another housebreaking charge along with two
one year sentences on stealing charges in another case. The
sentences will run concurrently.

According to court dockets, Green between 7.45 pm and
10 pm on Monday, April 26, while at Tiano Resort, Andros,
broke into the residence of Pennsylvania residents, Paul
and Susan Driver. There Green, according to court dockets,
stole $400 cash as well as credit cards and passports belong-
ing to the couple.

Court dockets also stated that between 7.15pm and
10.15pm on April 26, Green broke into the home of English
residents, Robert and Katie Donald and stole a $284 safe,
valued at $284, as well as $6,800 in cash, cellular phones and
other personal effects.

“Tam greatly sorry over the crime I have committed. I
would like to apologise to the Bahamas and people affect-
ed by the crime. I would like to apologise to my family,”
Green said.

Green asked that the court be lenient on him in view of
the fact that he had no previous convictions. Green admit-
ted that he threw some of the stolen contents into the sea,
but kept the cash for himself. He also admitted that the
money was in his bedroom.

Mild tremor shakes Haiti
but no damage reported

PORT-AU-PRINCE, Haiti Preliminary data from the

U.S. Geological Survey

PEOPLE ran screaming
from buildings Monday as
a mild tremor rattled a Hait-
ian capital still traumatized
by the deadly Jan. 12 earth-
quake, according to Associ-
ated Press.

There were no immediate
reports of damage or
injuries from the latest
tremor.

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

show the magnitude-4.4
earthquake struck in the
Caribbean Sea about 25
miles (40 kms) west of Port-
au-Prince.

Even minor tremors cause
panic in the Haitian capital
nearly four months after a
catastrophic 7.0 earthquake
that the government says
killed at 230,000 people.

AUG aaa
a 7 Ls xX







THIS backhoe has
been sitting on the beach
across from Orange Hill
near Traveller’s Rest
since last week Thursday.

Residents say they have
no idea where it came
from or who owns it.

One said: “I am not
sure what the intention is,
or whether the govern-
ment put it there, but I
would imagine that its not
a good thing to leave a
backhoe on the beach. It
also damaged the break-
water, and I am sure they
won't repair it.”









Store

Wide

Harbour Bay

Salie

afl, of

394-5767 aebahamas.com

Love your home?
Pay less for your
Insurance.

Join thousands of satisfied customers
who enjoy big savings on their home
insurance.

Home Options insurance offers lower
premiums, flexible cover to fit your lifestyle,
f \ interest-free installment payments and an

efficient claims service.

Call 326-7100 for an agent
or visit www.cgigroup.bm

SECURITY
& GENERAL

SECURITY & GENERAL INSURANCE CO. LTD.

Atlantic House, 2nd Terrace & Collins Avenue PO. Box N-3540 Nassau

bie COLONIAL GROUP
ld] INTERNATIONAL



Tel. 326-7100 www.cgigroup.bm

Colonial Group International is

A member of Colonial Group International:Insurance, Health, Pensions, Life rated A-(Excellent) by AM Best.


PAGE 8, TUESDAY, MAY 4, 2010

Careless with CARICOM - Part 1

By SIR SHRIDATH
RAMPHAL

(Sir Shridath has held the
positions of Commonwealth
Secretary-General, Chan-
cellor of the University of
the West Indies, Chairman
of the West Indian Com-

OPINION

(Today he writes the first



mission and Chief Negotia-

tor in the Caribbean of a two-part series entitled
Regional Negotiating “Careless with CARI-
Machinery. COM”).

Treat Mom to Mother’s Day
All-Day Brunch Buffet.

SUNDAY, MAY 9, NOON TO 4PM

Sheraton Nassau Beach Resort

$390 free

adults,
inclusive

children
4 & under

children
5-12

Free Buffet Brunch for Mom on Mother's Day with the purchase
of one full-price adult Brunch

Local Conch Chowder

Pea Soup with Mini Dumplings

Curry Crab Meat Salad
Three-Cheese Pasta Salad
Greek Salad

Raw Seafood Bar

Jerk Shrimp Pizza

Pigeon Peas ‘n’ Rice and Rosemary
Roasted Potatoes

Tropical Fruit Salad
Guava Duff and Rum Raisin Duff
Creme Caramel

Assorted Cheesecake

Top Round of Beef with Yorkshire Pudding

Rum Cake

Bahamian Grouper with Citrus Cream

Veal Osso Bucco

Chocolate Cake
Carrot Cake

Cornish Hen with a Wild Cherry Reduction

Seafood Penne with Basil Pesto

For hotel reservations call 327-6000
or visit sheratonnassau.com.






Lemon Meringue Pie

Sheraton
Nassau

BEACH RESORT

Introducing The All NEW

























ae

lf you are lOOKING for the

Drive one.

AS “West Indians”, as
“Caribbean people”, we
face a basic contradiction
of oneness and otherness,
a basic paradox of kinship
and alienation. Much of our
history is the interplay of
these contrarieties. But
they are not of equal
weight. The very notion of
being West Indian speaks
of identity, of oneness.
That identity is the prod-
uct of centuries of living
together and is itself a tri-
umph over the divisive
geography of an archipel-
ago which speaks to other-
ness. Today, CARICOM
and all it connotes, is the
hallmark of that triumph,
and it is well to remember
the processes which forged
it — lest we forget, and lose
it.

Throughout history our
geo-political region has
known that it is a kinship
in and around an enclosing
Sea. But, through most of
that time it suited local
elites - from white
planters, through successor
merchant groups, to estab-
lishment colonials — to
keep the Sea as a conve-
nient boundary against
encroachment on their
“local control.” Political
aspirants in our region jos-
tled for their Governor's
ear, not each other's arm.

Strategy

Times changed in the
nineteen twenties and thir-
ties — between the “world
wars.” The external eco-
nomic and political envi-
ronments changed; and the
internal environments
changed -— social, political
and most of all demo-
graphic. Local control
began to pass to the hands
of local creoles, mainly pro-
fessionals, later trade
unionists, and for a while
the new political class saw
value in a strategy of
regional unity. Maryshaw's
slogan “the West Indies
must be West Indian” car-
ried at the masthead of his
crusading newspaper was
evocative. For two genera-
tions, West Indian “unity”
was a progressive political
credo.

It was a strategy that was
to reach its apogee in the
Federation of The West
Indies: due to become
Independent in mid-1962.
It is often forgotten that the
“the” in the name of the
new nation was consciously
spelt with a capital “T” —
The West Indies — an insis-
tence on the oneness of the

an American Icon

Shop & Compare

All rane, a) ew, Boing [oo Hi ewaiably in The
Batanas, ive American Sports cardol Ve
with Aubomuric Transmdssios, cushom fT inch

Siow sheet, poe windows, looks end minors,

og Curtain oir age, pl a standard features,

PUIG 3 pear IO00 mall warrenty, 3 pears
medeuds aistaoce, 1 years mel giotection
eenes ad epaction $9 borthedagy, full lark of

a, loom rats, Heat thee marvin.

pest value available

You owe it to yourself co visi€ our showroom

2010

_prive one. FORD FUSION

(hop @ ‘Compare

2.0L, Tovar eyLinder engine Wilh) AULT ae Trees,
the mist fel eMicient vehicle in is chase, 6 disc od system,
power windows locks and manors, side custaim ait bags,
UT inch allow wheels, completely new aerodynamic body
design, all ofthis pli 2 year oCee) mk: warraey,
yours meulpele asses, 3 years rust protection, licence
and inspection tm birthday. full tank of pas, floor mats,

CU



first five services.

BOULEVARD

| 956-7100 © FAX: 328-6094

FRIENDLY MOTORS CO, LTD =

EMAL: friesdienotorstthoknad oon
WEBSITE: Rendyneirehahers con



federated region. But, by
then, that was verbal insis-
tence against a contrary
reality, already re-emerg-
ing. The new political elites
for whom “unity” offered
a pathway to political pow-
er through “independence”
had found by the 1960s that
that pathway was opening
up regardless.

Regional unity was no
longer a pre-condition to
“local control.” Hence, the
referendum in Jamaica; and
Trinidad's arithmetic that
'1' from '10' left '0'; even
“the agony of the eight.”
The century old impulse for
“local control” had pre-
vailed, and the separatist
instincts of a dividing sea
had resumed ascendancy.

But, as in the nineteen
twenties and thirties, so in
the sixties and seventies —
the environment changed
against separatism. Inde-
pendence on a separate
basis had secured “local
control”; but the old neme-
sis of colonialism was
replaced by the new
suzerainty of globalization.
Independence, particularly
for Caribbean micro states,
was not enough to deliver
Elysium. “Unity” no soon-
er discarded was back in
vogue; but less a matter of
the heart than of the head.

In an interdependent
world which in the name of
liberalization made no dis-
tinctions between rich and
poor, big and small, region-
al unity was compulsive.
Caribbean states needed
each other for survival;
“unity” was the only pro-
tective kit they could
afford. Only three years
after the rending “referen-
dum” came the first tenta-
tive steps to “unity” in 1965
with CARIFTA; “tenta-
tive”, because the old
obsession with “local con-
trol” continued to trump
oneness — certainly in Cab-
inet Rooms; but in drawing
rooms too; though less so
at street corners.

Despite the new exter-
nal compulsions the pursuit
of even economic unity,
which publics largely
accepted, has been a pas-
sage of attrition. It has tak-
en us from 1965 to 2010 —
45 years — to crawl
through CARIFTA and
CARICOM, through the
fractured promises of
Chaguaramas and Grand
Anse, and through innu-
merable Declarations and
Affirmations and Commit-
ments. Not surprisingly, we
have reached a moment of
widespread public disbelief
that our professed goal of a
“Single Market and Econ-
omy” will ever be attained.

In the acknowledged
quest for survival, the old
urge for “local control” has
not matured to provide real
space for the “unity” we
say we need. Like 19th cen-
tury colonists we still strug-
gle to keep our rocks in our
pockets - despite the
enhanced logic of pooling
our resources and the
enlarged danger of “state
capture” by unelected
groups and external forces
if we do not.

In the 21st century,
despite all we know in our
minds of the brutality of
the global environment and
the need for collective
action to survive it, the iso-
lationist claims of “local
control” still smother the
demands of unity of pur-

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.

THE TRIBUNE





S)inodnint AUN ta ean

“Our regionalism
inspired many in
the South who
also aspired to
strength through
unity. We have all
but withdrawn
from these roles,
and in some
areas like the EPA
with Europe we
have forsaken
our brothers in
the South.”



pose and action. It is puz-
zling that it should be so;
for we have assuredly made
large gains in what “unity”
most demands - “identi-
ty.”

There may be excep-
tions; but does not every
citizen of every CARICOM
country regard himself or
herself as a Caribbean per-
son — not first and fore-
most, of course, but after
his or her national “identi-
ty” -— amember of the
society we call “West Indi-
an.” There may be grous-
es, even anger, at not being
treated “properly” — espe-
cially at immigration coun-
ters — but that is because as
“West Indians” we expect
to be treated better. Our
anger hinges not on the
absence of identity but on
its assumed reality; on the
conviction that our com-
mon identity is not a garb
we wear outside but shed
when we come home.

Identity

Just recently, we lost one
of the Caribbean's most
illustrious sons — an “incan-
descent eagle” I called him.
The whole Caribbean
mourned him. And West
Indian diasporas — not just
Jamaican — mourned Rex
Nettleford as a Caribbean
person. We groan together
when West Indian cricket
grovels; and jump together
when it triumphs. What is
all this but identity?

It is not an identity crisis
that we face. We know we
are a family. But our fami-
ly values are less sturdy
than they should be — those
values that should move
regional unity from rhetoric
to reality; should make
integration an intuitive
process and the CSME a
natural bonding. Until we
live by these values so that
all the family prospers, we
degrade that identity.

We are also failing to
fulfil the promise we once
held out of being a light in
the darkness of the devel-
oping world. Our regional-
ism inspired many in the
South who also aspired to
strength through unity. We
have all but withdrawn
from these roles, and in
some areas like the EPA
with Europe we have for-
saken our brothers in the
South.

Recently, the former
President of Tanzania, Ben
Mkapa, who was our broth-
er in arms in the North-
South arena, was warning
Africa against the same
EPA of which we have
made Europe such a gift.
We have lost solidarity not
only with ourselves, but
collectively with our broth-
ers in the developing world.

And, perhaps, therein
lies the “rub.” Were we
making a reality of our own
regional unity we would
not be false to ourselves
and to others who look to
us for a vision of the future.
Instead, we are losing our
way both at home and
abroad.

(The second part of this
two-part series will be pub-
lished tomorrow).

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
i. Reluied party crankections

Total accounts recelvable declude S49 427 (2008 - §6.074) due from related parties Aa of
Tescemier 31, 2000, fees bdlled in advance includes 52.343 (2008 - $174,585) meecived from on
afilieied Ceespany umier the bem of the Adhinistrative Service Agreement with the affilisind
‘Company.

Persie

The Company portacipales in a nom-coninbuiory defined combution group pension plan Ger clipihke
employees. The Company's hability is restricted 1 the aterm of die Gontratartion

Geagraphical analysis af asiete and liabilities
The Companys aasets and lishilities werg concentrated in the following geographic location:
Ti:

Assets
§ Taos?

& L001 cel

DMB:

Asset:
Balunias
Linki lsties;
Falwmag. 1L01 064
Sexi trerkaned apd 57
7 1525261

T.0R Aas

Miarturtty af flnancial seoets andl Mb ities

The munities of fimaneial aeesets are lisbilimes ore curried! a4 [ollorms:

Agsoeta:
Ca anil dae deposits c 31126
Tine deyasit — alTiliate
Accounts recervable net

accrued liahilitios 357,18)
Due to atfilianes PSO bs
__ ‘Other liabilities 4, Sb}
532,209

Acme:
Crsh and demand. deposits
Time deposit — alibi
Accents receivable, net

Apoouris pawnbic ared
aoonied liahilitice _ J
Due io affiliates a ATE 07S
‘Ober eablhsea : 10, CoS
LOse 27

LiL Pair vale ieforma tin

The canrying values of fimanoia! dnetrusents appricicerts their Gair rakers due to their short-term bo
TTLALLiF at p'.

Li. Risk Management

The Company's inicting acivilies expose it to varices types of risk that are ssociated with the
financial Tetromests and markets im whieh it ives. The seal important (pes of financaal rik te
which the Compemy id expoand are merket osk, credit nak and Liquidity risk.

The retire and extent of the finanohal instrament culvlandisg af the reporting date and the risk
TMA policies emipleyed by the Compacry are dieciumssd below,

fan) Advert Mask

Pariet risk is chet fale hed futere changes m merket condiinens may make so ineroment less
valuable or more onerous. Market risk embodies the potential for bed loses and pains and inches
[irises Wisk, Peres pale rig anu! currency risk.

Orie FL

Prise migk it Whe risk thal te value of an inssumen wall Qouctesle as a resol of changes in market
Pricgs, whether caused by factors specific to om individual iwesiment, @ idauer or all facies
affecting al instraments traded in. the gaarket.

Ag the Company's Ginancel instruments are not subject io price charges, the Company is sat
expoced to price risk on its financial imtrumerta.

Faterer! rate risk

Interes!-bearing financal assets and inierest-bearing financtal lisbilities mevtere in the shoettens, no
longer than one maonth from the repieting die. Aa a reve, che Ceampany is eahject io lonited
exposure bp interest mabe risk doe to fuctuations m the prewailing levels of market interest rates.

Tienes) pahe pelt positions ape fecniloered by reagent, which eas lime deposita be meme the
overall position ankenp from Ube Company's non-treding activities.

Seveittally analysts

Aun inert im market interest retes by an average of LO) besis: points (bp) for the nest twelve
months [assaming a constant financial position) would increase equity and met income bby
appremimabely $70,730 (Me - 971250) A decrees inomarket interest rates by an everape of 100 be
for the next twelve months wooed have he equal bot opposte effect on equity and net income,
mesuming that other vanabkes remain pont.

Corrency rik

The Camipany nia ive at Geil insurers eee ooler ie boreections deneminaied in
currencies other than itt fimenonal comency. Consequently, the Company may al Gimes be exposed
bo risks that the exchemge pre of the: currency relatives to other foreign cerrenmes may change in
manner that hes am adwerse adfset on the value of that portion of the Companys msets or liabilities
denominated i curencies other than United States dollars. Substantially all of the Company's assets
and lisbahties ace denomoimeted in United States dollan. Accordingly, there is. minimal foreign
Gureey capoeure af dhe reporting dite.

hy Credin tek

‘Credit risk is the risk that a cousterparty to a financial imstroment will fail to discharge an obligation
er commitment that @ bes entered into with the Company, The Group's oredit policy is alan
applicable for the Company and the expasere to credet risk & mondtioeed off an tepeemp beerin

The mein amoont of credit eqposane is represented by the Gerying amounts of the assets on the
shaiement of (inaieied pareitiee

Conseninaliins of credit rod thet arise from fimamcial instranienis exist for groups of coonierparties
when they have similar economed characteristics thal would cause Geir ability to meet contractual
obligations: 86 be similarly affected by changes in economic or other conditions. The Company
Tinttors conceninions of risk by mecgrapiie: kacalion, af disclosed in note &.

fe} Siqualty nist
Liquidity risk is the risk that the Company nay encousber difficulty im meeting obligations from its
francial hiahilitie, Metunty infonmanon is diecleend in note 9,
12. Capital Managemen
There were no changes in the Company's approach to capital management during the year

The Central Haak of the Baharead equi: all financial institutions: io maintain a capital adequacy
ratio of at least & percent at afl tines. The aati: capital fer licenses trast companies is
$1,000,000, The capital mbapum-y cation is cabculated by dividing the Company's eligitte captial becs:
by its risk-weighted exgosuecs. The Company uses repelatory guidelines as the basis for the
ealoelation of the matic.

At December 3]. 2004and 2008, management belicecs the Company was in complianoe with capital
Peajuircsecrile,
us of Dasoember 3], D004, due Bankt’s eligible capital ii aa follina:

Ther 1 capital

Share capital
Aublitigreal perid-in capital
Retained eamings

| 00K O00)
LaLa

L O00
LOO
a1 6 41330

Total Eligable Capital __ §§ 6351908 4,303,614
Pisk-orsighina assets ee ROU 296

Capital ratios
Total regukviocy capital expressed 2x a percentage of

THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 11

LOCAL NEWS



First Grand Bahama
Agri-Business Expo
officially opened

MM Minister of National Insurance and Housing Kenneth Russell opens event
HB Locally grown vegetables, fruits, root crop, fish and handicrafts displayed
M5 ,000-plus acres of farm land conveyed so far to Grand Bahamians







KENNETH RUSSELL, Minister of National Insurance and Housing, and Edison Key, BAIC executive
chairman, pictured at the expo.

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - More than
5,000 acres of farm land
have been conveyed to
Grand Bahamians, it was
revealed on Friday during
the opening of the first
Grand Bahama Agri-Busi-
ness Expo.

Kenneth Russell, Minis-
ter of National Insurance
and Housing, officially
opened the expo on behalf
of Agriculture Minister Lar-
ry Cartwright.

Locally grown vegetables,
fruits and root crops, as well
as livestock, poultry, fish and
handicrafts were on display
at the Farmer’s Market site
at Goombay Park.

The Agri-Business Expo
was hosted by the Bahamas
Agricultural and Industrial
Corporation.

Edison Key, BAIC exec-
utive chairman, said he was
extremely impressed by the
quality of the produce
grown in Grand Bahama.

For the first time this year,
the expo was held outside
of New Providence in sev-
eral Family Islands, includ-
ing Eleuthera, Long Island,
Exuma, Cat Island, North
Andros, Mangrove Cay,
South Andros, Abaco and
Grand Bahama.

Mr Russell noted that the
government is doing its part
to promote, encourage and
stimulate the agriculture,
fishing and agri-business sec-
tors in an effort to enhance
food security.

He stated that 10,542

“It is hoped that
through this
programme, we
can nurture
minds that would
have even greater
vision for the
agriculture
industry in
Grand Bahama.”



Edison Key

acres of land have been pre-
served on Grand Bahama
for agricultural use.

Mr Russell reported that
5,366 acres have been con-
veyed to Grand Bahamians
so far, leaving just over 5,000
acres remaining.

He said that government
has allotted $15,000 for land
clearing purposes in the
2009/2010 budget.

Resource

“There are only two more
months left to tap into this
resource within the current
budgetary period,” said the
minister.

Minister Russell said gov-
ernment is strongly commit-
ted to the growth and devel-
opment of agriculture and
marine resources.

He said initiatives have
been put in place to provide
support and encouragement
to these sectors.

Mr Russell noted that
there are now closed sea-
sons on lobster, grouper and
stone crab, and that the pro-
gramme which allows regis-
tered farmers to buy sup-
plies from New Providence
on credit is going extremely
well.

“A total of 225 persons
throughout the Bahamas
have availed themselves of
this opportunity.

“This facility is also open
to you here in Grand
Bahama,” Mr Russell said.

He noted that several
backyard farming projects
have been launched and
have attracted strong sup-
port.

BAIC boss Edison Key
said increasing the involve-
ment of young Bahamians
in agriculture is critical for
the sustainability and future
growth of the industry.

The corporation has
donated four greenhouses
and made contributions of
cash and farming supplies to
schools in Grand Bahama,
including Eight Mile Rock
High, the Beacon School,
Jack Hayward High and St
Georges High.

“It is hoped that through
this programme, we can nur-
ture minds that would have
even greater vision for the
agriculture industry in
Grand Bahama,” said Mr
Key.

He said government has
been in discussion with the
Grand Bahama Port
Authority about developing
a further 500 acres of farm
land in Freeport.



a ¥



ll,







beta] risk-weipbted meats



KENNETH RUSSELL, Minister of National Insurance and Housing, and Edison Key, BAIC executive
chairman, pictured looking at some of the products. Locally grown vegetables, fruits and root crops,
as well as livestock, poultry, fish and handicrafts were displayed at the Farmer’s Market site at Goom-
bay Park.
The Homgkomg and Shanghai Banking Corporation Limited
Jecorperated in wie flog Alon SOLA wit Meee! fiobility
Mead Office: J Chee ’s toad Coumal, Heng Kong

Consolidated S4atement of Financial Position at 31 December Die

HKSm HK

ASSEDS
(Cash andi short-benm funds
lems in the come of collection from other banks
Alacings with banks maturing afer om month
‘Certificites of depaail
Hong Kop SAR Cowennent cerilicanes of

inde binds 15414
Uriding assets S22, 7351
Financial assets designated at faur vahoe 48.087
Derivatives 4IT1
Adhere fo Guskimers 144
Financial ines 2 6A
Jumownns due frome group companies 194.511
Lewes Bt OeCeS od poet wenture 50.083
Concdewilll and fmmangible mesets 239 16,081
Property, plant end eqn M327 5,585
Deferred tax. assets 28 1.609
Buclirerrest Perret aeeacty: 292 a4
Oher asset 61258 TG |
Total assets ai 703 4260156

H92,175
13,538
107,070
37,588

597,572
[3,049
45,569
S7\078

LLo,024
495,670
40,553
453,923
1.286, 145
46, 11
2M 662
40,250

LIABILITIES

Hong Kong SAR curacy mated in cerceblion
Dieses mm the course Of bets ee to Ghee bens
Degosirs by hanks

Customer acocumcs

Trading listilities

Financial leabilites desgnated ot fair value 7
Derivatives ExL Sa Sth il
Theht secerilics in ae ah be +E aK)
Retirement benetic liabilities 32 TAG
ASUS due to group companies SL e42 $1244
Other liabilities and provisions 55 a] £319
Liabilities under irearanoe contracts issued 144,975 L451
Current tax lisbalities a1iF F270
Deferred tax liabilities 7 ke 4433
Suberlinated liatilities £1,181 13,184
Preference: shares. 101, Dice Qz ETO
Total hinbilities 470,78 4,033,870

125414
TL Gib
112i
2,004 59
150308
Sh, Tie

119,004
21,4394
Pah
2,376
210587
Y526

EQUITY
Share cagutal Brana |
Oiler reserve 7a, 213
Retamted protics 139,231
Proposed fourth interim dividend HAsO
Total sharchealders’ mquity 245,788
Painority imerests 24,09
Tetall eqperiny ___ EM, FET
Total equity and liabilities ASMA

Secretary
Ml Seales
| lasek: 2010

Duran

Michael F Geoghegan
Alexander A Plockhart
Peter TS Wong

Consolidated Income Siateapend for the your ended 31 December 2008

Dn Did
HESm HKim

Iierest Income
Interest expense
Met imperest iniscwre
Feo come
Fee cupense
Met fee income 27a
Poet bepediomge inicsnemaz REI G
Met ice! [ loss) from financial merumencs designated al fir value 7254 Choe)
Cigens: fess losses from financial investenents: tin) (2.976)
Dividend inseme Sid a2
Met carted inane pronames 31,3945 26,866
Cither operating income ; 72K 4,076
Total Opting incom 1545581 139,05]
Met insurance claims incurred and moment i policyholders"

lintalities (14.787)

L24,3e4

S2ob
_ (24,119)

RADE

35.583
15 M5)

125404
(56,819)
e045
47,751
(694)
30,767
21,383

(7030)
Net operating iscome before loan impairment charges ame olber
ercdit risk previsiona Hi8, 25
_ (11.235)
107,005
(25.585)
(19527) (260)
(2a) (2, 60%)
(1,177) (Haz)

Lown impairment charges and other credit risk provisions
Net operatiog iaeome

Employee compensation and benelies

‘Ccneral aed] acmanistralive expenses

Depeaciation of property, plamt and equipment
Aronian of intangible asus

Total operating expenses (2,195) (a3, 281
‘Operating profit 5A e22 a
Share of profit in associaies and joint ventures ___ ara T.ea4
Profit before tax | ST .6a)
Tak expense (11919 (12,71
Predit for the year seat ee

(12, 00)
[D224
(28,132)

Poof! attnbulable to shareholders 4508 50,308
Peofil aitibutable io minority inerests 456 4,074

Sana

= Statement to the directors of The Hongkowg and Shanghai Banking Corporation
i

We have audited the accounts of The Hongbong and Shanghai Banking Corporation Limited for
the your ended 31 Deeember 2009, from which the summarised financial information set out
bhowe hus been extracted, in secordance with Hong Keng Standards of Auditing issued by the
Hong Kong Institute of Certified Public Accountants, In our repart dated 1 March 2010 we
exprogeod an onqualified opinion on these acount.

In cur opinion, the summariged financial information above is consistent, in all material
respects, WIth Che accounts from which it was extracted,

The summarised financial informetion does not comstirute the Bank's stututery scoaunts for the
year ended 31 Deccmber 2009. Fora better understanding of the Bank's financial position are
ihe resulls oF its operations for the year and of the scape of car audit, the summarised financial
Itormation should be read in conjunction with the accounts from which the summarised
Financial information was extracted and our audit report thereon.

K€

Certified Public Aceaiimtants

&ih Floor, Prince's Buikling,
10 Chater Read
Central

PAGE 12, TUESDAY, MAY 4, 2010

THE TRIBUNE



LOCAL NEWS

~—) na

i x i ne 5



iii 9
MEMBERS OF THE LADIES IN WHITE opposition group pray and protest outside Santa Rita church after
marching in Havana, Sunday, May 2, 2010. Cuba has allowed the organization of wives and mothers of jailed
opposition activists to hold a protest march after the country's top Roman Catholic clergyman negotiated
with authorities, ending three weeks of confrontations. (AP)

Cuban opposition allowed
to hold protest march

HAVANA

CUBA allowed a small
group of dissidents to hold a
protest march on Sunday after
the country's top Roman
Catholic clergyman negotiated
with authorities, ending three
straight weeks of ugly con-
frontations, according to Asso-
ciated Press.

The government's decision
was a victory for the Damas de
Blanco — or Ladies in White
— who had marched peaceful-
ly and with little fanfare down
Havana's Quinta Avenida
boulevard for seven years
before the government sud-
denly forbade the protests on
April 11. The group is com-
prised of the wives and mothers
of some 75 dissidents jailed in a
2003 crackdown, as well as sup-
porters who joined them later.

Sunday's march followed a
Mass at Santa Rita de Casia
Church presided over by Car-
dinal Jaime Ortega, who told
parishioners, including 13
Damas, that he had intervened
with authorities to allow the
women to resume their small
protests.

Ortega said he assured
authorities that the Damas
would not try to expand their
activities, but would return to
their normal Sunday routine.

"T gave a sort of guarantee
that they are going to do what
they have always done," and
no more, the cardinal told
reporters.

CREDIT SUISSE

The government's unusual
decision to negotiate, he said,
"is a slightly new way of act-
ing. Before, one was answered
with silence. Now, we have an
answer."

Laura Pollan, the Damas'
leader, said authorities have
agreed to let the women march
during the month of May, and
will review their decision after
that.

"For us, it is a little victory,"
Pollan said after the march.
"We feel partially satisfied
because we don't have to ask
for permission and we are going
to continue marching. But we
will be most satisfied only when
our relatives are freed."

No reason was given for the
government's about-face, just
as no reason was given for the
decision to stop the protests in
April.

Ortega did not say which
official he had talked with, but
the clergyman's intervention
clearly worked.

On the past three weekends,
as the women emerged from
church, waiting Cuban officials
told them not to march and
crowds of pro-government
counter-protesters surrounded
them. Last weekend, the
Damas stood under a large
ficus tree for seven hours while
the counter-protesters
screamed at them.

Cuba says the counter-
protests occur spontaneously
due to islanders’ hatred of the
opposition, but little effort is

made to hide coordination
between state agents and the
crowd.

Cuba's human rights record
has been in the spotlight since
the Feb. 23 death of a dissident
hunger striker. In March, the
Damas broke their routine of
weekly protests with seven
straight days of marches in var-
ious locations in Havana. Hun-
dreds of shouting pro-govern-
ment demonstrators turned out
at each of the marches and
security agents forcefully bun-
dled the women into a bus
when they refused to stop one
of the protests.

Cuban officials denounced
the sudden media attention as
part of a global campaign
against the island directed by
Washington. The government
considers the opposition,
including the Damas, to be paid
mercenaries and common crim-
inals.

Ortega recently said in an
April interview with a church
magazine that Cuba is in a deep
crisis and that its people are
hungry for political and eco-
nomic changes sooner rather
than later.

He said Sunday the Damas’
need to march was "very under-
standable and very human."

"These women are fighting
for the freedom of their hus-
bands and relatives," he said.
"No matter their cause, I think
that they are people that merit
respect and special considera-
tion.”

Credit Suisse AG, Nassau Branch

Private Banking

is presently considering applications for a
RELATIONSHIP MANAGER - EUROPEAN DESK

The Private Banking Business Area is accepting applications for a Relationship
Manager, covering the European Market:

Duties will include:

Acquisition and development of new offshore European based clients
Marketing of estate planning, private banking and portfolio management
services to prospective clianis along with additional services, such as, ihe
Sél-Lip of Companies and trusts together with administrative procedures

Advising clients on products, services and investment opportunities

Management of anoountsirelationships with clients originating fram Europe

Requirements:

Apolicants should possess a University Degree (or equivalent) in Banking &

Finance

Al leaat seven (7) years banking experience including relationship
management, trading, trade reconciliation, custody business and securities

markets

Marketing experience throughout Europe
Musi have established intemational client base with assets under management
In excess of USS100 Mic and a well developed network within the market

regions

Strong communication skills in Engli¢h and working knowledge of French,
German and tlalian is a requirement to facilitate marketing and relationship
management with clients and prospects

Good computer skills (Word, Excel, Power Point, Quilook & Bloornberg)
Willing ta travel extensively throughout Europe and utilize a network of
existing contacts and associates

Personal Qualities:

A conimilnent to service excellence
Ability to work under pressure and with minimum supervision

Excellent organizational and interpersonal skills
Ability to work Independently

Heng Kong

24 April 2010

Amaual Report ond Accoumls

Benefits provided include:
- Competitive salary and benefits

The caescliduied balance sheet and the consolidated Income statement printed wbowe are ewtmocied from
ihe 20H) Annual Report and Accounts of The Hongkong and Shanghai Bankieg Corporation Limited.
Copies of the 2008 Anneal Report and Accounts are available on request fieea The Hongkong and
Shanghai Banking Corporation Limited, Suite 306, Centre of Commerce, One Hay Street, FO. Baw Me
4917, Macsau, Bahamas Tel: (242) 502-2535.

Applications should be submitted to:
Human Resources Department
P.O, Box N-4928
Nassau, Bahamas
or via fax 356-6148

HSBC €&>

The workd's local bank

DEADLINE FOR RECEIPT OF APPLICATIONS IS: MAY 12, 2010


THE TRIBUNE

TUESDAY, MAY 4, 2010, PAGE 13



LOCAL NEWS

© 70
Caribbean businesses invited to explore trade opportunities in US

BRIDGETOWN, BARBA-
DOS - Regional businesses
wanting to form solid relation-
ships with US buyers and sup-
pliers will be given the chance
to do so when a contingent from
the Caribbean participates in the
2010 TradeUSA mission to
Florida.

Representatives of various
US companies will be in Florida
between June 27 and July 1 to
meet with their Caribbean coun-
terparts in the host cities of Dor-
val and Hollywood. Conceptu-

alised by the Florida Foreign
Trade Association (FFTA), an
incorporated, non-profit organi-
sation, the Caribbean series of
trade missions began in 2007
through the US Commercial
Service and has met significant
success.

Participants in past missions
have said that the meetings
“exceeded expectations.”
Before leaving to go on the mis-
sions, they set out precise speci-
fications in terms of the types of
meetings they wanted to have

and in most cases the US com-
panies brought more to the table
than was requested.

In addition, the regional busi-
nesses were given the opportu-
nity to meet representatives from
national chains.

According to Malcolm Wood
of Coral Spring Vinters Ltd.,
who attended the 2008 Mission,
the trip was worth every penny
he invested.

“The strength of the mission
was, that it allowed me to tailor
the programme to meet my spe-

BABE OP AMINA TR UT AST BANS G iMAC ATION (BAAS) LMI

STATEMENT OF PIM AS CUAL IMSS

Ciepressed if. United States dollars)

ASSETS
Laat and ie fom banks (Minter 2 and 5)

Deiaadl ~ ies
Dimes - Coreg:
ACTS! idee eeceteah be are oder iimeete ~ Cirup:

Total ase

LIARILIMES
Acoma enpeniied and other liphileies = Crus

EXUITY
Shere capital (Mota T]
fuiboromal, jtd and folly paid:
L000 dares of TU). each and
10,000, 000 shares of L100 each
Reained simings

Total expity

Total Habits eed expiry

Signed an apgved on bekalf of tie Beard of Uirearora:

December i),
Aly

et ns Ba Oe
Lie?2071 1) 5 2
—jA i —limet
PLATS FLL
—ie JL
1 On OT 1000) tp
—ao LOLS
LLSS AZOLE

$a 7e $09 113

BANE OP AMERICA TRUST AND RANKING CORPORATION (2 AHARLAS) LIMITED

SOTES Th THE STATEMENT CHF FINAN CLAL POSITION
DEC RMB 31, oo

L 3 ‘at

Henk of America Trast and Bantieg Compenidicn (Beharrea) Loree (ike Hank" is incorporssed under the laws of
the Commenseeaith of The Maher, The Bank bo wholly-caned subiidiary af Bark of America Intermortonal
Pisce Coperaion MBIPO") a company eegiticesd in North Cancling 05.4, ehich i a Himately wiollycuned by

Bani of Aumericn Conponation.

On Desctriber (2, 005, interest in the Rank was transfered @ BIFC from Bank of America lalding Company 5.4

[apes 45 part of a reorgenizadion peocem}, Eumk of America Comporation i a bank holding company
oo peiicd on Delawcre |[Liniied Ses of ATE) Whee cxecetive nefices om lecoied in Charioge, Hoth

Lanhn

The Biank’s pegiatcred offer is leceted of Dotierfield Bank (Hahanias) Limited, Pa) Hex M-1243, Masswu, The

Ads The megerity of tha transactions comfucted by tha Bank are conducted by United Srates dollar, the reporting
Forency oi the financial Wiferecnis i United Sises dollars redher than the local currency of te Commeanwealtn of

This Baharia.
he Bank ceased operation: a@iective Kivesanser 2%, [O00

Gurigh the Strlior of the Mowk's ultimate wind op dade on December
Bienk be eound-up and lguidated by December 31, 201

Ls Summary ef aignificand aeceunting policies

Basis of preparation

Pha Tard il podtigoe i held o ecetricied ico:
31, 2010. 1 id tanagemcat's intention ches the

Bank is mdexgoing am erderhy wied dewn of ie operations (co: Note |) are Because there is ne feria
‘ine in ie a bec bash as applied ure: Intemational Financial Reportmg Slandards
(SURRE*} on a going coscern basis and ax weukl apply under a (iquadation basis, management does ni comaider il

cific needs... I was able to meet
supplier and buyers specific to
my industry (some coming in
from as far as New York),” Mr
Wood said.

“The organization and exe-
cution of the mission ... was
seamless ... the FFTA staff
were knowledgeable, accommo-
dating and thorough ... (and)
timelines were met, communi-
cation facilities were available,
transportation and accommoda-
tion was excellent,” he added.

Because the FFTA represents

the most diverse group of indi-
viduals and companies in the for-
eign trade market, companies
from the Caribbean attending
this year’s mission will benefit
from meetings with deliberately
matched, qualified leads.

There will be possibilities for
negotiating reduced prices
directly with suppliers and the
expectation is that, just like in
the past, offers will be made and
opportunities will present them-
selves.

Another participant from the

2008 Trade Mission was Mar-
garet Lovemore of Lovemore
Juices, who was very excited to
meet representatives from a
leading price club who indicated
interest in her line of fruit juices.

The FFTA’s regional partner
since 2008 is GlobalHandShake,
a privately run company whose
sole mission is to facilitate cross-
border opportunities. The timing
of the mission is perfect given
the recent forecasts that the eco-
nomic recession will begin to lift
by year end.

Significandy all agers aed linbdhtor: ane denomineted in. Lineted Sivies dollars amd ai December 3], 3005 and
December 31, io all of che time deposits and all of the cash on demand were placed with Bark of Asierica, NA.,
Lomdon and North Carolina baanches.

Pair value of financial imstracieaes ined Pmanctal risk Mame pe men

The (Hank's finwacial intrements are abort cermin mature andl ane compren af deposits, cash and wiher leqoid
resources, Accordinghy, ihe eaimuted tair value is mot significantly different Grom the carryiag value for cach major
emegery of the Bank's financial anecti aad liabilriers

rise arising froen the Faeik’s financial instremests is ceedin cick. (Coeche ris is the risk thet a counkerparty
wl be witb or eating to meet a commitment thet 7 bo entered Into wah the Bank. The Bank's main
exporene ts eredit risk in the went the counlerpartios fail in perform their obligations al December 31, SMrP aad
December 71, 2008 in relation each class of recogreed financial aaiets, Is tae canrymg aunt of this: acta ad
indicred in che itatemem of financtl pecition. The Dank manages credit risk assccutied with depos assets bry
making placements primarily within the Henk of Ameren grep.

Liquidity rick in the eisk that che Donk will encounter difficulty in realizing msels and otherwise raking funds io
meet commilments. Interest reve risk im the risk that arises where there is an lebalance between rite ated non rate
sensitive sascla and Uahilickes ‘The Besnk bas 0 material exposure 6 either of these risks at Doorrmber 31, 2009 ard
Tecember 71, 2008, aitheugh the Dank is abject io declines in ieleredt insome should intercel sales 2omtinue to

decline.

i, Pain

The Buck's obisctiee when managing capinel, which isa broader condepe chan ‘equity’ om the Geos of the statement
of firaecial position, is in comply with the capital requirements sci by the Cenmal Blank of The Bahoras ithe
eréral Hank") theough to the date of the wareender of the Bank's nosnac.

Capital adequacy aad the use of regulatory capital are monitored by the Bask's rasepernent, ermeplirying:, Lecleadques
designed tn ermure compliance with guidelines eaubliched by the Central Aare

The Central Bank requires. cach entity wih a peblic bank and trust lence 6 maintain o ratio of total regulatory
capital to risk-welghied avers al er abort a minima of 8%

The tate below summarises the compesition of regulatory capital and shows the capiial adequacy ratio of te Bonk
as of the siement of financial position dave. During 2009 and 2006, che Bank has complied with all off the
ficraally impoaed capétel nequirementa fo which i was subject,

204 2a
q 5
Tier | cupatal
Shave capdial LL ote 11 oo
Retained earreangs TL LOLs
Total 1 Tho 12011103
Rikeweighted asots: 134M 2391 Iz
Capital adequacy mitio S0l% U2
Feed fei tie ogee
Prrvidttae Home
Beet Hill faeen
P.O. Bes KIO
Bm, Habarrsri

Bernd pret ee pas co
Telephone (Ct) Bee

i ialath 1 1 [finance position bas
ine to adopt: the lnqoidation bawia of ecoounting. Accordingly, the Bank's Fiabeescht a
eel in cmaforuty with IFRS oa goiag concen boa and ta stated in Lineterd States dollars

This matemert of financial peat bos been prepared under thr himerioal cont convention and in acoordance with
JERS. The preparation of w statement of finmecial position in conftematy mith [PRES required matagerent in make

eatieutes and gasurnptions chat affect the reported amounts of asec: and Uabibtees and discleure of conmmpcat
ares ail Habilities af the sutement of financial peaiten date, Actual rewelts could differ from thise estimates,

Reievant siasdards ond amendncets i existing stamlards effective January 1, 2009,
‘The Company has adopted the following new and amended IFRSs.a5 of loruary 1, 20S:
LAS 1 (revised) ‘Presentation of finameial statemente’ — 2fSective | Femeeary 2000. The revieed standard peeltibus the
presmistion ef tems of income atl expenses [that is, “non-ener Changes in equity | ta the saterment of changes: in
equity, requrig ‘nenewner changes if equity’ oo be presented separainly from. cemer changes in cqsity im &
siiement of comprehensive income. Aa a pevelt the Company peesents in the nla lene i of champes in equity all
cemer changes in equity, whereas all nen-vewer changes in equity ine presented in dhe stalemnent of comprehensive
lace, Comparative iafermation has been re-presented en chal alba is in confonmaty with the revised stondand.

i i hat became effective fre fiscal
The remaining siandards and amencments aad iaterpreione: to peblidied samiderde | i
pesieds beginning on of after | Janmeary UO wee mot relevant to The Bank's operations aad) wccordingly did net
impact the Hank's accouating policies of ttaiement of fisancial pomtinm

The: application of new stank and gered rreccin sad! Geerpretations do exciling standards that have been publehed
but ace not pet effective are net expected te have a oumlcrial impact on the Bank's accounting paliciea o@ financial
datemonia in te period off initial application.

The follrvang id a somememy of the material accounting pobre

Cath aad due free hooks

Cash ared dive frome bers inclodes cash and shert-lerm investments in fied deposits with original maturities of three
foils of leas

Accrued expenses and othe liabilities

Lanbilicie: classified aa accounts payable and wocrued lisbelities arc eared at cost which ia the fier value of the
connideealion to be perid in the fonure for goods andl services vecetved.

Share capital
Ordinary share capital is recognized at par value

Jools cider mana persat
Test were nn assets oe liabilities beimg admmanimered by the Hank as custodian, esier or nemiiaee for the years
creed Deceatber 31, S0FF and 208.

3,__Eielased party tramsect lone

A porton of the adminisrative aed gener expesscs of the Bank have been Bome by other grup coeepeanics during,
the period

Fall atte lai

The following, is an analyois of significant aeects ead bebilities based on the period remaining in maturity as of the
dalemest of Gaancel postion che:

Auwerage
Up ta 31 na ol ie Interesl
Mins a des LEG day Total __Furte,
December 3-1, 2005
Fused
Cash and due fron banks See Fs Ls | Ae li
Tecember 31, 2008:
Auoci
‘Cah and duc: fom banks LEDS) | is SLE LF ath

| Welle war pen

Pacoormde C42) 903-454

INDEPENDENT. ALI ORS" REPORT

Wwe hawe andited the aacompaying saiement of fmancial peoilion of Bank of America [resi aul Pandit,
Comporstion (Eahamas) Limited {ihe "Bank"â„¢) a5 of December #1, 200% and a summary of significant acccamling
policies and other explanatory notes.

Afonugimen 9) Reqponclbvuy for tbe Foner! Staten

Wimapement ia resporaible for the peeparation and Tair preuentation of this statement of fiaancial position in
accordance with Intemational Finacial Reporting Standards. This respossibility includes: designing, implementing
and muintzining intemal central relevant to the preparetion and fair presentation of financial statements thet are free
iron material mbsistement, whether due lo fraud or ereor; selecting and applying appropriate eccounting policies;
ard uukiing accounting estimeries thal are roamenable in the circumerances

doalifives "Alison (blige

Che responsibility is to express an opimioe oe this sulement of financial position based on eur aindiL We conducted
wer adil ia accordance with Intecretinal Standaeds on Auditing. Those standards reqeie that we comply with
ethical reyainstients and plan and perioem dae oacht to chiain reascaabbe assarance whether the wlaiemest of
Gane! paditian 1a free Groen material misrasement

Ag gedit inentecs performing procedures to abtvin gedit ewidemce about the amount and dischsenes in the financal
staltments. The peoosdures selecied depend on the audiices' judgieal, including the assessment of the rises of
maternal micitalemest of the fimancial statements, whether due io fraud er ere. In making those rick assesment,
the audios comader istereal centred relevant to the entity's preparsten and Gair presentation of the fancel
sgiemenis in ender te design wudir procedures that ae approprigic in the cireumlinocs, bul pot Boe the purpose of
aupreseng an opimedn oot the effsetivescss of the entity's iniemal conéel As audit who includes evaluating the
Ippropnatenes: of accounting policics uted and the peasonatlenes: of accountmg cotimetcs meade by mangement,
a5 welll as evalosting the everall pecsentation of the financial statements

We believe that the audit cwidenos we have obtained is cafTiient and approprate in penvide 2 besia Ger cur wudin
piri.

Onion

Le wer opinion, the accompanying staiement of fircancial pion pecseens fairly, in wll material respects, the
Gaanctal pooition. of the Bank as of Chpopeebser 30, 202, in accordance woh Intemational Financial Reporting
Sudands.

Era of dewcrs

Witheet qualifying our opiaion we draw amention to Migs | to the siaiement of financial postion As explained
thenen, proceedings have commenced which will ukimately lead 9 the voluntary liquicktion of the Hank.

We wn emphasine that the accompanying atalemea! of Tinwaclal position does mot compeise a complete oct of
financial sistements mm accordance ‘with Intentional Fiaancial Reporting Sundards, Information on results of
operons, cach flows and changes. in cquily i secesiary te obtain a complete undersamdmg of the financial
Pn, perenne gad changes nm firancial postion of Bask of Agere Trom and Barking Cnocporation
(Bahaaaas | Lirined.

Chartered Accrmssnts
Sanu, Bahamas

April 27, 2018

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

13, Financial risk management fcantinnedts

Foreien currency nik

Foreign currency isk is the risk that the value of a financial instrument will Quciuaie because
of changes in foragn cachange rates, The Hank's foreign exchange exposure arses from
providing services to-customers. The Bank's policy is to hedge against foreign exchange rinks
by matching currescy lighililies with cumency aes. Cunency exposure is monitored on a
daily basis and reviewed by management.

‘The currency exposure is stand below in SFr (in thousands;

Deere er 2, 20K;

Saw isa United States
Francs Eure dollars Oilers Total
O5877
RU, A327

13,325

4,731 93,797
14631 14, 4
1, WHE (2a 7)

453,017
BASSE
409

ii 12
26.251
(aH 50)

Fumeets
Lvaba lines

Decrmiasr 3, DIKE:

Swiss United! States

Fras: — Eure dodlars Others Total







4B AIG
23,408
22,84

62,452 128,26
68,275 121,01e

(2,823) 7248

27051
41343
(14292)

Asserts
| isbvilinies

Shh, 202

. (Caniilal tick nage ee

The Central Bank of the Bahamas requires oll public cargeries of Banks to malneain a
minimum capatal of ESS, 000000 and a capital adequacy rath of at keast & percent of risk

eligible capital base by its riskeweighted exposures. The Bank uses regulatory guidelines as
the basis for the calculation of he rato, There bawe been me material changes im the Hank's
management of capital during the year.
The Bank's ectusl capiinl ameund ond risk asset ratio at December 31, SKE) and 200K, os well
as the minimum regulatory requirements are as follows
ik 2
Minimum Acta hLininvam
requirement requirement

Actual

Capital CHE 22,726,364 5,168,670 LT AZT 269 5,321,990

Risk asset ratio lis 7%, 14% a,
_ooO-—>::??:? Ro —E—EOE———E—E2mq

1d. Capital management Scorned!

Banking operations are categorieed as either ining book or banking book and risk-weighted
assets are determina! scoording te specifed Teqjlwenents thm sack 1 reflect the wary [ih

levels of risk altached to assets and off-balance sheet exposures.

The Bonk"s policy is tbo maintain o strong capitol hase so ns to maininin investor, crediter and
re oneness dtl bo sustain Cutler dicho of ile basins. Tre ieapaeet of Ure bevel
of capaial om shareholder's return is also recognized amd the Hank reeognices the need to

mainldin a balce between the higher nebame thal might be possible with greater gearing and
the advantages and securiqy afforded bw a smind capital posirion

Phe Hank has complied with the pgulatory impeaed capital requirements chreughoas the

year.

TUESDAY, MAY 4, 2010, PAGE 17



Status of investigation
into allegations of money
laundering is unclear

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE status of local investigations into the
money laundering allegations made against
attorney Sidney Cambridge is unclear.

Statements released by Bahamian finan-
cial services regulators last year indicated they
would review the accusations to determine
whether or not a full blown investigation would
be undertaken.

Rowena Bethel, Executive Commissioner
at the Compliance Commission, said she would
review questions presented by The Tribune
to ensure any information disclosed did not
conflict with the confidentiality obligations
the Compliance Commission has to observe.

Attorney Lilly Ann Sanchez, who repre-
sents Mr Cambridge in Florida, said: “No
charges are being filed (in the Bahamas). The
Bahamian authorities have never, ever, ever
investigated or had any interest in filing any
kind of charges in this case at all.”

Last year, Bahamian financial services reg-
ulators released public statements indicating
they were reviewing the case because its sen-
sitive nature could “pose a potential threat” to
the integrity and reputation of the local finan-
cial services industry. The status of the review
is unclear.

The legal community was stunned last
November when Mr Cambridge was formally
indicted in a Florida court on one count of
conspiracy to commit money laundering and
five counts of money laundering. An arrest
warrant was issued for him at that time.

He did not go to the US to face charges,
and was declared a “fugitive from justice” by a
Florida judge.

His case file was “transferred to the sus-
pended/fugitive file until such time as he is
apprehended.” The judge also ordered the
Clerk of the Court to designate the file
“closed” for the time being in what has been
called a “routine” procedure.

Sources say Mr Cambridge, who is a prac-
tising attorney, is at Munroe and Associates
after resigning his post as an attorney and
partner with Callender’s & Co, and resigning
as treasurer of the Progressive Liberal Party

and the Bahamas Bar Association.

The Tribune was able to contact him at the
firm yesterday. He referred all comments to his
legal counsel Wayne Munroe, who is chief
partner at Munroe and Associates. Mr Munroe
could not be reached for comment.

US attorneys representing Mr Cambridge
said they are waiting for the United States
Attorneys’ Office to make its next move with
respect to a potential extradition request.

Ms Sanchez said nothing has happened since
she had initial conversations with attorneys
from the Florida Southern District of the US
Attorneys’ Office months ago. At that time
they stated their intention to request extradi-
tion.

“At this point there are no indications that
have been provided to myself or Mr Cam-
bridge on how they are going to proceed. The
US attorneys’ office has had no further con-
versations regarding the extradition. If they
are going to go forward and extradite at that
point we would resurrect the bond conversa-
tion,” she said.

After the initial extradition claim, Ms
Sanchez sought to negotiate a bond agree-
ment for Mr Cambridge that would allow him
to fly between South Florida and The Bahamas
where his wife and family live during the court
proceedings.

Ms Sanchez has previously said, her client
would “happily come to the United States at
the appropriate time under the appropriate
conditions and face the charges voluntarily.”

Mr Cambridge was co-accused with former
vice-mayor of Broward County and Broward
County Commissioner, Josephus Eggelleton,
along with Florida businessmen Ronald
Owens, and Joel Williams, who have all
appeared in Miami courts to answer to their
changes.

Two of the four defendants pleaded guilty to
charges filed against them. Mr Eggelletion
pleaded guilty to one count of conspiracy to
commit money laundering in December. Mr
Owens pleaded guilty in January and faces
sentencing in April.

The trial of Mr Williams was scheduled to
get under way yesterday. Mr Cambridge has
not been required to act as a witness for either
side.

CREDIT SUISSE

Credit Suisse AG, Nassau Branch

Private Banking
is presently considering applications for
BUSINESS DEVELOPMENT OFFICER - CENTRAL &
SOUTH AMERICAN DESK

The Private Banking Business Area is accepting applications for a Busaness
Development Officer covering Central and South Amarican Markets:

Applicanls should possess a University Degree (or equivalent) in Banking &
Finances|

Al least seven (7) years banking experience including relationship
Mmanagenent, irading, tage reconciliation, custocy business and secuntes
markets

Marketing experiance throughout Central and South America
Must have established international cient base wilh assets under management
in eacess of USS150 Mic and a well developed network within the market

Probe into killer tornado ordered

FROM page one

through the International
Labour Organisation (ILO),
will begin his investigation on
May 6.

The minister said: “Mr
Obadia, who has 30 years of
occupational safety and health
experience and expertise, will
conduct a fact finding mission
into all aspects of the events
surrounding the accident,
inclusive of interviewing those
persons involved in the acci-
dent, including emergency
response personnel.”

He said that after Mr Oba-
dia’s report has been com-
pleted it will be reviewed by
the government and made
public.

This comes just days after
Minister of State for Finance
Zhivargo Laing confirmed
that the government intends

to look into the safety con-
cerns of workers at the con-
tainer port.

He said inquiries will be
conducted "in the interest of
promoting worker safety at
the container port and any
industrial corporation in
Grand Bahama and the
Bahamas."

PLP MP Obie Wilchcombe
revealed that according to a
report he received, officials
at the nearby VOPAK oil
refinery had warned contain-
er port employees about the
tornado ahead of time.

The accuracy of this report
has yet to be verified, but Mr
Wilchcombe emphasised that
despite the lack of an official
tornado warning from the
Department of Meteorology,
the container port had a
responsibility to monitor the
weather independently.

F a

Denson ss



regions

Strang communication skills in Spanish’English is a raquirament to facilitate
marketing and relationship management with clients and prospects and a
third language would be beneficial

Good computer skills (Word, Exeel, Power Point, Qullook & Bloomberg}

Willing to travel extensively throughout Gantral and South America and utilize

a neiwork Of exishing comact and associates

Possess a confident and outgoing personality

Acquisition and development of new offshore Gentral and South American
based clients

Marketing of estalé planning, private banking and portiolia management
services to prospective clients along with additional services, such as, the
set-up of companies and trusts together with administrative procedures
Advising clients on products, services and investment opportunities
Management of accountsrelationships wilh clients originating from Central
and South America

Personal Qualities:
A. commilment io seanice excellance
Ability to work Linder pressure aind with minim supervision
Excellent organizational and interpersonal skills

" Ability to work independently

Police constable is
charged with murder

FROM page one

day. He was the country's 28th homicide vic-
tim.

Gibson, who was attached to the Wulff Road
Police Station, was not required to enter a
plea to the murder charge.

His attorney, Jomo Campbell, told the court
yesterday that his client had not yet been inter-
dicted and was still a member of the Royal
Bahamas Police Force.

He initially asked that Gibson be remand-
ed to Police Quarter guard. Mr Campbell
said that his client feared for his life and his

safety.

Inspector Clifford Daxon pointed out, how-
ever, that police usually wait until an officer is
charged before interdicting him.

Mr Campbell asked that his client not be
placed with the general prison population not-
ing that up to three weeks ago he had been
executing his duties as an officer.

Chief Magistrate Gomez ordered that Gib-
son be remanded to Her Majesty’s Prison and
said that he would request that prison offi-
cials place Gibson in his own cell or away from
the other inmates.

Gibson is expected back in court on May 12
in Court 6, Parliament Street.

Former St Augustine’s

* Competitive salary and benetits

APPUCATIONS MUST BE IN WAITING. Persons mat meeting ihe

Manin

apied.



Applications should ba submitted to:
Human Resources Department
PO. Bow N-4928
Nassau, Bahamas of via lax 356-8748

DEADLINE FOR RECEIPT OF APPLICATIONS IS: MAY 710, 2070



College headmaster dies

FROM page one

Augustine’s College in
December 1963 when the
late Very Rev Frederic
Frey, OSB resigned
because of ill-health.
During his three years as
headmaster, Father Bur-
ton developed and expand-
ed the facilities of the col-

lege and laid out plans for
future development.
Under his direction, new
classrooms were added
and for the first time in the
Bahamas he opened the
college to boarders in
1964.

Father Burton brought
22 years’ experience of
teaching in Catholic
schools in Mexico and

Latin America to his post
in the Bahamas.

Born in Minnesota,
Father Burton entered the
Benedictine Order in 1940
and was ordained a priest
in 1945.

His last assignment
before coming to the
Bahamas was as headmas-
ter of San Antonio Abad
in Puerto Rico.

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 20, TUESDAY, MAY 4, 2010

Oil spill ‘may not
affect contemplation
of exploration

in the Bahamas’

FROM page one

with a well co-ordinated
response to spills is needed.

He continued: "We
haven't had an application
to drill an oil well, we had
applications to lease
(areas) for oil exploration.
Most of that is done on the
basis of digital mapping. So
I don't think it's warranted
to speculate to whether we
would (approve oil) drilling
or not,” Mr Deveaux told
The Tribune.

Opposition MP for Fox
Hill Fred Mitchell believes
the Gulf of Mexico spill
and others like it should be
heeded as warnings for the
Bahamas.

"This business of drilling
for oil as being a panacea
for all ills shows that there
are problems that come
with it. We have to be care-
ful thinking that this is
going to solve all our prob-
lems, drilling for oil, when
in fact it can lead to
tremendous issues for the
environment and the fish-
ing sector.

"Given the difficulty of
the economy it's hard for
a government to resist it. I
just believe that our envi-
ronment needs to be pro-
tected — we need to be
looking at renewable
(energy) instead of trying

to go after carbon based
fuels," said the former For-
eign Affairs Minister.

Recently, the govern-
ment published applica-
tions submitted by two
petroleum groups who
want to search parts of the
northern and southern
Bahamas for oil.

One of these applications
is from energy explorer
BPC and Norwegian oil
company StatoilHydro
have teamed up in to pos-
sibly search three locations
on the Bahamian side of
Cay Sal Bank.

Another seven locations
north of Grand Bahama
are subject to applications
covering five million acres
from a partnership
between Atlantic Petrole-
um Limited and Bahamas
Petroleum Limited. Seven
locations north of Grand
Bahama are also subject to
applications covering five
million acres from a part-
nership between Atlantic
Petroleum Limited and
Bahamas Petroleum Lim-
ited, according to pub-
lished reports.

The future of some of
these applications hinge on
ongoing maritime bound-
ary discussions with Cuba
and other neighbouring
countries.

It is reported than an oil

Bahama’ Health

Fee. Goop ABOUT

Your HEALTHPLAN

r nap)

discovery in Bahamian ter-
ritory could bring in an
estimated $12 billion in
revenue and create thou-
sands of jobs.

The spill — caused by an
exploding BP oil rig in the
Gulf of Mexico on April 22
— is estimated to have
spread to 3,500 square
miles, roughly the size of
Puerto Rico, with an esti-
mated tens of thousands of
gallons leaking every day.
More than 1.5 million gal-
lons of oil have leaked
since then.

It is expected to hit frag-
ile wetlands, marshlands,
wildlife and is a threat to
fishing and spawning spots
in the Gulf.

Added to this is the fear
that the slick will lead to
oil covered beaches in
coastal cities stretching
from Louisiana to Florida.

Earlier in the week, local
environment officials said
due to the direction of
wind and ocean currents
there was only a remote
possibility that the waters
of the Bahamas would be
affected by the oil. How-
ever a contingency is being
set up to form emergency
plans.

¢ SEE STORY ON PAGE

THREE AND POLL RESULTS
ON PAGE SIX.

A DIVISION OF







Eric Gay/AP

[1 customized group &
individual health plans

[uninterrupted coverage
[coverage after age 75

OW Neath plaNl ear srtnesnove



THE TRIBUNE

WORKERS PLACE OIL CONTAINMENT BOOMS around in the central marshes in St. Bernard Parish,
La. on Monday, May 3, 2010.

Alfred Sears
‘consults with
constituents’ on
whether to seek
re-election

FROM page one

that he has to meet at this
time.

“Mr Sears I would gather
would wish to devote the
next several years to edu-
cating his children and
focusing on his practice.
While we cannot say defini-
tively which way he might
go, you can understand his
desire if he wishes to take
this time to focus on his fam-
ily,” the source said.

While Mr Sears is con-
templating his next move in
his political career it is
understood that some resi-
dents of Fort Charlotte are
pushing to have their MP
returned to represent them
in the House of Assembly.

However, as sources close
to Mr Sears pointed out, it
would be difficult for him to
properly represent both the
interests of his constituents,
his clients, and his family all
at once.

“T believe he wishes to
contribute in other ways
other than as a Member of
Parliament; and he may be
willing to consider public
office at some future date.





ALFRED SEARS

But at this time that is not
one of his main priorities.
He would like to focus on
ensuring the education of his
children and to contribute
to the civic life of the com-
munity — other than as an
MP.”

Mr Sears ran successfully
against the FNM’s candidate
— the now Chief Justice Sir
Michael Barnett in 2007. Pri-
or to that election he served
as Minister of Education
and Attorney General under
the previous PLP govern-
ment from 2002 to 2007.





i CSpicy Wing Box

3 Spicy Wings & Fries $399

Snacker Deal

Chicken Box 2 Snacker Sandwiches

1 Pe. Chicken, Fries & Biscuit

CE

= wy
4 be
Fae eh

ey, oe Mini Bowl

Mini Famous Bow! & Biscuit

bd ait!
Int
Mii) ua



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


THE TRIBUNE
| US
AT ae pT



ine

TUESDAY,



MAY 4,



20-10

SECTION B ¢ business @tribunemedia.net

$6.6m revenues
from quarrying
on the Freeport
Concrete’s land

By NEIL HARTNELL
Tribune Business Editor

THE 127-acre tract of land
that BISX-listed Freeport Con-
crete is seeking to sell to ensure
its survival could generate $6.6
million in revenues per year if
used for a limestone aggregate
mine, an appraiser has forecast,
with production estimated at
495,000 tonnes per year.

A March 11, 2000, letter
from Wendell Grant, an
appraiser/engineer at W. Carv-
er Grant & Company, to
Freeport Concrete chief execu-
tive Ray Simpson, said that in
reaching the conclusion that the
land was worth $4.95 million,
based on an income valuation
method, it was determined that
the site could have a 15-year
lifespan based on excavating 70
per cent of the site.

Based on 90 acres of the
126.75 acre site being used for
limestone aggregate mining,
and using similar Freeport-
based operations as a bench-
mark, Mr Grant wrote: “Our
analysis found that an opera-
tion as outlined [here] could
generate approximately 495,000
tonnes of processed material

Use of BISX-listed firm’s 127
acres for quarrying could
generate $495,000 in net
operating income anually,
based on 495,000 tonnes

per annum and 70%
of site mines

per year.

“We expect that this could
return mean annualised rev-
enue of $6.6 million per year.
With adjustment for the cost of
operation and maintaining the
operation we forecast an annu-
al income of $4.95 million.
Weighing the risks associated
with the establishment and cap-
italisation of the operation, we
value the land at $4.95 million.

“With infrastructure rehabil-
itation in North America
increasing, the demand for the
product is not expected to
diminish, resulting in stable
return on investment for the
immediate future.”

Mr Grant’s letter estimated
that an aggregate mine on the
site, which is located north of

SEE page 2B

FamGuard general

insurance agency
on ‘frontburner’



By NEIL HARTNELL
Tribune Business Editor

FAM -
Guard
(Bahamas)
expects to
“end 2010 in
a more posi-
tive light” on
its health
insurance
business,
which swung
from a $4.663
million profit in 2008 toa
$1.942 million loss last year, as
it places the launch of its gen-
eral insurance agency on the
“frontburner” - targeting end-
June 2010.

Patricia Hermanns, president
of the BISX-listed insurer,
which operates as Family
Guardian, told Tribune Busi-
ness yesterday that the main
factor behind its 26.5 per cent
net income drop in 3009 was
the surge in claims experienced
by its BahamaHealth division.
These rose year-over-year by
50.9 per cent, increasing from
$25.176 million in 2008 to
$37.991 million in benefit pay-
outs.

“Our health claims have
been the major contributor to
the reduction in our profitabil-



HERMANNS

* Company plans to launch
agency by end-June

* Expects to end 2010 in
‘more positive light’ on
health business, following
negative $6.8m swing in ‘09

* Says A. M. Best outlook
downgrade caused by
mortgages accounting
for 1/3 of total assets,
plus use of inappropriate
model for ‘major metropolis’

”

ity,” Ms Hermanns said,
explaining that Family
Guardian was moving to
address this by working through
its portfolio one policy at a
time.

The life and health insurer is
now assessing the premium
pricing for all its Bahama-
Health policies and, based on
previous claims history, is look-
ing to bring premiums into line
with perceived risk - something
that will mean increases for
some.

The benefits from this exer-
cise, though, will take some

SEE page 6B

ROYAL FIDELITY

Uae LL g

RBC/ Fidelity Joint Venture Company

$65m port deal
sealed ‘this week’

By NEIL HARTNELL
Tribune Business Editor

he Government and
| private sector shipping
companies are work-
ing feverishly to try and con-
clude the agreement for the
new $60-$65 million Arawak
Cay port “this week”, multiple
sources told Tribune Business
yesterday, with the signing pos-
sibly coming as early as tomor-
row.

The 19 potential private sec-
tor investors in Arawak Port
Development Ltd met last
Wednesday to further discuss
the critical Memorandum of
Understanding (MoU) the
company is negotiating with the
Government for the project,

and sources familiar with the
situation said there was increas-
ing optimism that an agreement
could be sealed as early as this
week.

Jimmy Mosko, Arawak Port
Development Ltd ‘s chairman,
declined to comment when con-
tacted by Tribune Business yes-
terday, although he and the
other directors were said to be
in possession of the latest MoU
draft following its receipt from
the Prime Minister’s Office.

“The agreement is in hand,”
one shipping industry source
told Tribune Business on con-
dition of anonymity. “It came
late, but has been received. I
think there is a decision to go
ahead and sign off on it. It’s
close to being signed. After the

meeting on Wednesday, every-
one was extremely positive that
something was going to hap-
pen.”

Another source added:
“There are documents going
back and forth. There has been
considerable correspondence in
recent days with the
hope/expectation that a final
agreement could be reached
and signed this week.

“They are trying to get toa
position where a document, the
MoJU, could be finalised this
week.”

Tribune Business under-
stands that the Arawak Cay
port’s structure remains
unchanged, namely that the 19-

SEE page 2B

Bahamas spends $4m over climate change

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE BAHAMAS has thus
far spent more than $4 million
on learning about climate
change and how to combat its
effects, which could drive the
cost of living through the roof
in the future, the director of the
Bahamas Environmental, Sci-
ence and Technology (BEST)

Commission said yesterday.

Philip Weech said the Gov-
ernment has received much of
this money for major climate
change studies and alternative
energy reviews from entities
such as the Inter-American
Development Bank (IDB), plus
some private offerings. A large
majority of the grants and fund-
ing was only donated to the
Government over the past two
to three years.

According to Mr Weech
much of this money has been
pumped into finding ways to
decrease this country’s depen-
dence on fossil fuels for energy
production, through exploring
alternative energy options such
as wind and solar.

A large portion of grant
money from the IDB has also
been injected into finding ways

SEE page 2B

URCA defends 1.1% telecoms licensing fees

By NEIL HARTNELL
Tribune Business Editor

THE Utilities Regulation &
Competition Authority
(URCA) has defended the
annual communications licence
fee, equivalent to 1.1 per cent of
a carrier’s turnover, as “neither
unreasonable nor excessive”
when compared to regulatory
fees charged in other Caribbean
and small island states.

Responding to concerns
raised by sector operators that
its $4.8 million Budget for 2009-
2010 was “excessive”, with the
Bahamas Telecommunications
Company (BTC) and Systems
Resource Group (SRG) com-
plaining their licence fees would
“more than double” and rise

* Says increase ‘neither unreasonable nor excessive’
* Argues that comparison of $4.8m budget with lower
equivalents of regional counterparts not ‘like-for-like’ analysis
* Warns licensing fee may not always be 1.1% of
turnover, as charge determined by URCA budget
needs and sector’s financial performance
* $3m set aside to finance water, energy regulation

by 276 per cent, respectively,
to finance this, URCA said
added “responsibilities” had
contributed to the cost increase.

“URCA notes the comments
on the budget being excessive
and placing burdens on
licensees,” the communications
sector regulator said in its
response. “URCA is mindful
that it has to be an efficient and

ROYAL 3 FIDELITY

Money at Work

effective regulator, and offer
value for money.

“There is the addition of new
responsibilities (broadcasting,
competition), which adds to the
higher costs (through advisory
costs) during the first 16
months.

“Tn addition, URCA has out-

SEE page 6B



NASSAU
(242) 356-9801

FREEPORT
(242) 351-3010

MARSH HARBOUR
(242) 367-3135

royalfidelity.com

$100m industry's
shrinking danger
within 10-15 years

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

THE BAHAMIAN FISH-
ING industry could face severe
contraction in 10 to 15 years
due to ocean acidification and
ocean temperature increases,
brought on by the global warm-
ing that threatens to destroy
this country’s coral reefs, Tri-
bune Business understands.

Climate change expert, Dr
Peter Kouwenhoven, said ris-
ing ocean temperatures brought
on by climate change and an
increase in acidity are destroy-
ing coral reefs, and the
Bahamas is in danger of losing
an enormous chunk of its $100
million per annum fishing
industry if those fish habitats
collapse.

According to Dr Kouwen-
hoven, the rise in acidity occurs
as the ocean absorbs carbon
dioxide in the atmosphere,
which is released from burning
fossil fuels. Those emissions
change the acidity of the ocean
waters and destroy coral reefs.

Dr Kouwenhoven warned
that this effect is irreversible,
and is well into the first criti-
cal stages of acidification.

And rising ocean tempera-
tures are creating an effect on
coral known as bleaching,
which also destroys coral reefs.

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.





RBC/ Fidelity Joint Venture Company

Learn more at royalfidelity.com

Sort t=)

INTERNATIONAL REALTY

Damianos |

Sure you'll marry a millionaire!
Now what's Plan B?



FOR SALE BY SEALED BID

SANDYPORT, 14 CORAL BEACH #5276 Rare opportunity to
purchase a residential lot below market value in a superior family-
oriented environment. 6,450 sq. ft.with sandy beach and dock - ideal for a
dream home. Coral Beach Island is nicely developed with Colonial Style
residences,within walking distance to the newly built Phase 5 pool and
covered cabana. New Closing date for sealed bids: May 5th, 2010.
For viewing and bid package please call Lana Rademaker:
t 242.322.2305 or c 242.457.0406

Member of
SIRbahamas.com | 242.322.2305 | The Bahamas MLS | Booed

We can get you there. Royal Fidelity.

BAHAMAS
Nassau: 242.356.9801
Freeport: 242.351.3010

BARBADOS
St. Michael:

ROYAL 3 FIDELITY

Money at Work

246.435.1955






THE TRIBUNE

This consolidated balance sheet includes the following balances with related parties:

2009 2008
SFr SFr
(000) (000)
Assets
Due from banks — demand and call deposits 23,865 11,913
Loans and advances to customers 61 25
Derivative financial instruments 114 344
Investments at fair value through profit or loss 438 333
Management and advisory fees receivable 855 732
Accrued income and other assets 6 3

Liabilities

Deposits from banks

Customers’ deposits

Derivative financial instruments
Management and distribution fees payable
Accrued expenses and other liabilities

8. General Reserve

The general reserve is comprized of amounts appropriated from retained earnings for
capital needs including unforeseeable risks and future losses. Amounts transferred to the
general reserve account can only be distributed following approval by the shareholders in a
general meeting. In June 2009, the shareholders approved the transfer of SFr 1 Million
from retained earnings to the general reserve account (July 2008: SFr 1 Million).

9. Capital Management

The Bank’s objectives when managing capital, which is a broader concept than ‘equity’ on
the face of the consolidated balance sheet, are:

e To comply with the capital requirements set by the Central Bank of The Bahamas (the
Central Bank);
To safeguard the Bank’s ability to continue as a going concern so that it can continue to
provide returns for its shareholder and benefits for other stakeholders; and
To maintain a strong capital base to support the development of its business.

Capital adequacy and the use of regulatory capital are monitored by the Bank’s
management, employing techniques designed to ensure compliance with guidelines
established by the Central Bank. The required information is filed with the Central Bank
on a quarterly basis.

For the Bank, there is no difference between the composition of regulatory capital and the
components of equity as shown in the consolidated balance sheet. The Central Bank
requires each entity with a public bank and trust licence to maintain a ratio of total
regulatory capital to risk-weighted assets at or above a minimum of 8%. The Bank has
complied with all of the externally imposed capital requirements to which it is subject.

Commitments and Contingent Liabilities

(a) Lease commitments
In December 2006, the Group entered into a non-cancellable operating lease for the
rental of office space for the five-year period commencing 1 January 2007. In

addition, the Group also signed two lease agreements for the rental of two apartments
(one signed 2007 and renewed 1 November 2009 for one year, one signed 1 March

11.

TUESDAY, MAY 4, 2010, PAGE 5B

2009 2008
SFr SFr
(7000) (*000)
Commitments to purchase currencies
Parent Bank
Customers

4,513
3,102

16,906
17,374

7,615 34,280

Commitments to sell currencies
Parent Bank
Customers

4,449
3,168

16,762
17,514

7,617 34,276

The contract amounts of these instruments reflect the extent of the Group’s involvement
in forward currency contracts and do not represent the Group’s risk of loss due to
counterparty non-performance (credit risk). As of 31 December 2009, the Group’s
exposure to credit risk on forward currency contracts is limited to those contracts with a
positive fair value, which amounted to SFr 364 k (2008: SFr 382 k). All derivative
contracts are settled on a net basis.

Fair Value of Financial Instruments

Financial instruments utilized by the Group include recorded assets and liabilities, as well as
items that principally involve off-balance sheet risk. _ It is the Group’s policy not to take on
material exposure to the effects of fluctuations in prevailing foreign currency exchange
rates on its financial position and cash flows. As the Group has no significant unmatched
foreign currency positions, change in interest rates is the main cause of changes in the fair
value of the Group’s financial instruments. The majority of the Group’s financial

instruments are either short-term in nature or have interest rates that automatically reset to
market on a periodic basis. Accordingly, the estimated fair value is not significantly different
from the carrying value for each major category of the Group’s recorded assets and liabilities,

IFRS 7 specifies the hierarchy of valuation techniques based on whether inputs to those
valuation techniques are observable or unobservable. Observable inputs reflect market data
obtained from independent sources; unobservable inputs reflect the Group’s market
assumptions. These two types of inputs have created the following fair value hierarchy:

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities. This
level includes listed equity securities and debt instruments on exchanges (for example,
London Stock Exchange, Frankfurt Stock Exchange, New York Stock Exchange) and
exchange traded derivatives like futures (for example, Nasdaq, S&P 500).

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the
asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices).
This level includes the majority of the OTC derivative contracts, traded loans and issued
structured debt. The sources of input parameters like LIBOR yield curve or counterparty
credit risk are Bloomberg and Reuters.

Level 3 — Inputs for the asset or liability that are not based on observable market data
(unobservable inputs). This level includes equity investments and debt instruments with
significant unobservable components.

The hierarchy requires the use of observable market data when available. The Group
considers relevant and observable market prices in its valuations where possible. The table

2008 for a period of two years). As of 31 December 2009, the future minimum lease
payments under these agreements are as follows:

Not later than 1 year
1—5 years

(b) Computer upgrade and module commitment

SFr 122k
SFr 87k

The Group has entered into a contractual agreement to purchase computer operating
system upgrades and software modules to assist with statistics, risk management, and
consolidation. As of 31 December 2009, future minimum payments due under the
agreement total SFr 162 k (2008: SFr 160 k).

Guarantees

As of 31 December 2009, the Group was contingently liable to the Parent Bank in
respect of guarantees issued on behalf of its customers totalling SFr 11.3 Million

(2008: SFr 6.6 Million).

concerned collateralize these guarantees.

Derivative financial instruments

Assets held by the Group on behalf of the customers

The Group enters into forward currency contracts solely as part of its client-related
Forward currency contracts are contracts to purchase and sell
foreign currencies at specific rates of exchange on specific dates in the future. Risk
arises from the potential inability of counterparties to perform under the terms of the
contracts (credit risk) and from fluctuations in the foreign exchange rates (market
risk). The Group manages the market risk of client-related positions by taking
offsetting positions with the Parent Bank, resulting in minimal market exposure. The
credit risk of client-related positions is managed by applying uniform credit standards
maintained for all activities with credit risk. Collateral held generally includes cash,
cash equivalents, and investment securities.

trading activities.

As of 31 December 2009, the Group had notional contractual commitments under
open forward currency contracts as follows:

below shows the fair value hierarchy levels for financial assets and liabilities.

As of December 31, 2009

Financial assets designated at fair

value
~ Debt securities
~ Equity securities

~ Derivative financial instruments

Total assets

Financial liabilities designated at

fair value

+ Derivative financial instruments

Total liabilities

As of December 31, 2008

Financial assets designated at fair

value
- Debt securities
- Equity securities

~ Derivative financial instruments

Total assets

Financial liabilities designated at

fair value

- Derivative financial instruments

Total liabilities

Ensuring we do not ‘court’ election woe

FROM page 1B

model of governance. One of
the most basic and fundamental
tenets of that model is that the
Prime Minister can go to the
electorate at any time for a
fresh mandate.

Therefore, if there is a crisis
in February and the fixed date
is November, there is a prob-
lem. In reality, this is not an
option unless we change to a
republican political model of
governance.

Financial Disclosure —

If we are serious about deep-
ening democracy and chipping
away at the entrenched influ-
ence of special interest groups,
we would have to put in place
laws requiring disclosure of
political contributions.

This is a very easy fix but one
that we can’t seem to get done.
Interestingly enough, this con-
cept gains traction with oppo-
sition parties, but the moment
they gain power their interest in
implementing change rapidly
fades away.

There is a growing view that
disclosure should not just be
limited to political contribu-
tions, but also that registered
parties should be required to
publish their accounts.

Boundaries Commission -

A Boundaries Commission
meets every five years and
makes recommendations to the

Governor-General as to how
many seats should be in the
House of Assembly. In densely
populated areas they would
consider the number of persons
in each constituency and try to
create a population balance. In
sparsely populated areas the
geographical make-up and
expanse of the area is also tak-
en into consideration.

The commission as constitu-
tionally mandated, and is
chaired by the speaker of Par-
liament. Other members are:

(i) A Justice of the Supreme
Court recommended by the
Chief Justice

(ii) Two members of Parlia-
ment recommended by the
Prime Minister

(iii) One Member of Par-
liament recommended by the
Leader of the Opposition.

In theory, the Commission is
independent, but in reality most
persons do not believe this to
be the case. While there is gen-
eral confidence in the indepen-
dence of the Justice, the other
four members are rank and file
card-carrying members of the
main political parties, while the
Government side has the
majority.

Further, some persons have
also expressed concern that if a
member of the judiciary goes
to the bench, having previously
offered as a candidate for a
political party, or having been a

member of the Cabinet through
a senatorial appointment, espe-
cially as Attorney-General,
would the public feel he/she is
impartial when it comes to a
matter such as boundary
changes, which could, by its
nature, have a significant
impact on the upcoming elec-
tions?

Are we mature enough to
take this to the next level and
make the majority of the mem-
bers independent? This is what
we need to do, but no govern-
ment has demonstrated the
political will to do so.

Technology —

The work of the PRD is sup-
posed to be ongoing, at least
that is the law. It is amazing
how ‘low tech’ their system
seem sto be. It does not appear
that the current system has any
audit trail function that can
record when changes are made
to entries and by whom. The
official Register should be
linked to the Register of Births
and Deaths at a minimum.

It is my understanding that
the Government has a GPS
mapping system where one can
go online and confirm the loca-
tion of houses and apartments.
In fact, they can do a lot of
work just using ‘Google Earth’.
This is not rocket science stuff.
Let’s put some young ‘techies’
in the PRD and they will get it
sorted quickly. We must move
with the times.

Independence of

Parliamentary Registrar —

I listened to the Prime Min-
ister recently speaking to the
independence of the Parlia-
mentary Commissioner as it
relates to the structure of the
position. Certainly, in theory,
he is independent but should
we consider setting up that
office as a separate statutory
entity?

Conclusion

We must challenge ourselves
to fix the current system imme-
diately, if not sooner. The way
things are currently being done
is woefully inadequate and
threatens to undermine our
fledgling democracy.

Until next week...

NB: Larry R. Gibson, a char-
tered financial analyst, is vice-
president - pensions, Colonial
Pensions Services (Bahamas), a
wholly-owned subsidiary of
Colonial Group International,
which owns Atlantic Medical
Insurance and is a major share-
holder of Security & General
Insurance Company in the
Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to rlgibson@atlantic-
house.com.bs

Level 1
(000)

Level 2
(000)

Level 3
(£000)

Total
(‘000)

2,995 2,995
438 438

- 364
3,433 3,797



Level 1
(£000)

Level 3
(*000)

Total

a) (*000)

2,309 2,309
333 333

- 382
3,024











NOTICE

NOTICE is hereby given that EDLINE OSCAR of COOPER’S
TERRACE OFF KEMP ROAD, NASSAU BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship, for
registration/naturalization as a citizen of The Bahamas, and that any
person who knows any reason why registration/naturalization should
not be granted, should send a written and signed statement of the
facts within twenty-eight days from the 3'¢ day of MAY, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box N-7147,
Nassau, Bahamas.

Legal Notice
NOTICE

NOTICE IS HEREBY GIVEN as follows:

(a) THE LUXURY FUND LTD. is in dissolution under the provisions of
the International Business Companies Act 2000.

(b) The Dissolution of said Company commenced on May 3, 2010
when its Articles of Dissolution were submitted and registered by
the Registrar General.

The Liquidator of the said company is Zakrit Services Ltd. of 2nd
Terrace West, Centreville, Nassau, Bahamas.

All persons having Claims against the above-named Company are
required on or before the 21st day of May, 2010 to send their names and
addresses and particulars of their debts or claims to the Liquidator of the
company or, in default thereof, they may be excluded from the benefit of
any distribution made before such debts are proved.

MAY 3, 2010
ZAKRIT SERVICES LTD.

LIQUIDATOR OF THE ABOVE-NAMED COMPANY



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6B, TUESDAY, MAY 4, 2010
[Sa
FamGuard on ‘frontburner’

FROM page 1B

time to be felt, as Family
Guardian can only re-price
policies once they become due
for renewal, forcing it to work
through the issue on a daily,
weekly, monthly and even
quarterly basis.

“It’s something that has to
be worked through on an indi-
vidual account basis as we
move through the year,” Ms
Hermanns said. “We have con-
tinued challenges in the health
portfolio, which we continue to
manage, and as we work
through the quarters we expect
to see that improve.

“We expect to end the year
in a more positive light as it
relates to health.”

There was a role reversal
when it came to the key drivers
of Family Guardian’s business
in 2009, as compared to 2008.
Last year, it was the company’s
life insurance business that
picked up the slack, with net
premium income - plus annuity
deposits and investment income
- up 15.6 per cent at $45.643
million, compared to $39.469
million in 2008.

With policyholder benefits
essentially flat at $22.907 mil-
lion, compared to $22.166 mil-

PURO BET AMEN
Paralegal
Positions Available

2-5 years experience

lh tae PAPAL)

eh
LIVIN Tice bilecdamco nit



lion in 2008, Family Guardian’s
life division generated $6.145
million in net income compared
to just $521,000 the year before.
That helped to counter the
more than $6.6 million nega-
tive swing on the company’s
health portfolio.

“We have seen an increase
in the life business, and the
annuity business as well,” Ms
Hermanns told Tribune Busi-
ness. “There has been an
increase in premium related to
renewal sales, as well as related
to new business in life and
annuities. We had strong
growth in both blocks of busi-
ness in 2010, with premium
growth in excess of 15 per
cent.”

While Family Guardian was
not planning to launch any new
products in 2010 due to the
weak state of the Bahamian
economy, it was gearing up
towards the launch of its whol-
ly-owned general insurance
agency subsidiary.

“That is very much on the
frontburner, and we are making
great progress towards having
that launched, we hope, in the
next month or certainly by the
end of June, and having it fully
functional and operational,” Ms
Hermanns added.

Family Guardian General
Insurance Agency, which has
been on the launch pad for
many years, will operate
through the company’s existing
sales force and agency network.
The insurer’s capital markets
business was also seeing the
expansion of its client base.

Ms Hermanns, meanwhile,
declined to go into detail on the
proposed holding company
merger between Bahamas First
Holdings and FamGuard Cor-
poration, and the status of
negotiations, telling Tribune
Business: “We are finalising our
position on that, and should be

LEGAL NOTICE

making a comment on that in
the near future.”

The Family Guardian presi-
dent declined to compare and
contrast the different positions
A. M. Best took on her com-
pany and Colina Holdings
(Bahamas), the other listed life
and health insurer.

The international insurance
credit rating agency downgrad-
ed the outlook on Family
Guardian to ‘negative’, while
maintaining the one for Colina
Holdings (Bahamas) at ‘stable’,
despite expressing concerns
about the level of defaults in
both companies’ mortgage
portfolios.

Ms Hermanns said compar-
isons were difficult unless some-
one knew the composition of
both companies’ balance sheets
“beneath the surface”.

She added, though, that A.
M. Best’s concerns with regard
to Family Guardian had always
been the “size of the mortgage
portfolio as a percentage of the
total asset base”. With $61.305
million in net mortgage loans
on the books at December 31,
2009, these constituted some 32
per cent - just under one-third -
of the company’s $189.152 mil-
lion total assets.

This percentage, though, had
not changed since discussions
with A. M. Best began, and Ms
Hermanns suggested the rating
agency was employing an inap-
propriate model for analysing
Family Guardian and the
Bahamian market, namely one
that was more consistent with a
“major metropolis” such as
New York and the US.

Unlike the securitised US
mortgage market, Bahamian
insurers were directly tied to
their borrowers, and also had
to cope with the constraints of a
relatively illiquid stock market,
unlike the US, Ms Hermanns
said.



URCA, from 1B

lined an ambitious agenda,
reflecting the concerns of many
licensees to address long-stand-
ing regulatory issues as quickly
as possible - infrastructure shar-
ing and number portability are
examples of this.”

SRG, though had com-
plained that URCA’s budget
was “excessive compared to
other regional communications
and utility regulators”, a com-
ment echoed by its fixed-line
competitor, BTC.

The 100 per cent state-owned
incumbent, which is in the
midst of a privatisation exer-
cise, went further, pointing out
that its “fees to URCA have
more than doubled compared
to the fees paid to” the regula-
tor’s predecessor.

“In BTC’s view, URCA’s
fees are excessive by interna-
tional standards and make it
difficult for BTC to operate a
profitable business,” the sector
regulator said in its review.
“BTC infers that high fees are
likely to discourage investment
in the sector, and that it is still
required to make significant
other payments in the normal
course of operations (customs
duties, taxes, etc).”

Yet, in a robust defence of
its fee position, URCA said it
had provided a comparison to
the sector in previous consul-
tation documents.

And it added: “This showed
that the annualised URCA fee
of 1.1 per cent [of a licensee’s
annual turnover] was neither
unreasonable nor excessive
compared with either regional
or other small-island regula-
tors.”

URCA, though, spent much
time rebutting the comments
of SRG, which operates as Indi-
Go Networks. The carrier had
compared URCA’s $4.8 million
budget for 2009-2010 with the
$3.8 million allocated for the
Barbados utility regulator,

LEGAL NOTICE

while counterparts in the Cay-
man Islands, Jamaica and the
Turks & Caicos had budgets of
$1.3 million, $3.1 million and
$1.3 million respectively.

SRG said the utilities regu-
lators in Barbados, Jamaica and
the Cayman Islands all regulat-
ed more sectors than URCA,
such as electricity, water, nat-
ural gas and transportation, and
had to cope with more industry
players as a result of liberalisa-
tion being more advanced in
those countries.

“By any measure, SRG takes
the respectful view that
URCA's budget is dispropor-
tionate. The Bahamas is the
least competitive of these juris-
dictions, with only a small num-
ber of operators,” the company
said.

Responsible

"URCA is responsible for
regulation of only a limited
number of sectors. URCA's
budget is 26 per cent greater
than the next highest jurisdic-
tion of Barbados, which also
regulates electricity and natur-
al gas, and 269 per cent greater
than the lowest cost jurisdic-
tion that regulates the same sec-
tors."

However, URCA said SRG’s
research was “not a like-for-
like” analysis, pointing out that
“no other regulator is in its first
year of liberalisation of the
communications sector in addi-
tion to dealing with a new and
different regime”.

“Experience from newly lib-
eralised markets suggests that
regulators typically experience
a higher set of costs, and there-
fore correspondingly set a high-
er level of licence/regulatory
fees in comparison with latter
years of liberalisations,” the
regulator added.

“Therefore, comparing the
level of URCA fees for 2010
with the level of licence fees in
other regional markets now
sends the wrong signal; what

THE TRIBUNE

would be more appropriate is
to analyse licence/regulatory
fees from other jurisdictions
during year one of liberalisa-
tion and change in the regula-
tory regime.”

URCA added that it was
responsible for licensing, spec-
trum matters and broadcasting,
all areas not covered by its Bar-
badian counterpart. And the
Jamaican regulator did not
have responsibility for the latter
two areas or competition con-
cerns.

“As this is a transition period
for URCA, the costs for advi-
sory services, and overall costs,
are likely to be high, due to the
change in regulatory regime,”
the regulator said. “URCA
anticipates that with knowledge
transfer and experience, its
budget will stabilise and costs
will decrease in real terms over
the medium term.”

BTC, meanwhile, had pro-
posed implementing a cap on
URCA’s fees, so that its rev-
enue/licensing fee demands did
“not become limitless”.

The regulator, though,
described such a cap as “inap-
propriate”. It added: “The
URCA budget is determined
annually, then using the esti-
mated turnover for all licensees
(using latest available financial
information), a licence fee is
estimated.

“The licence fee may not be
the equivalent of 1.104 per cent
each year, as it is driven by
URCA’s budget, and also the
estimated turnover for all rele-
vant licensees.

“Therefore, there are no pro-
visions to bill and collect on a
defined percentage licence fee
regardless of what URCA’s
budgetary needs are from year-
to-year.”

URCA’s Board has also
approved allocating $3 million
from its contributed surplus to a
separate reserve that will
finance preparations for it to
regulate the Bahamian energy
and water sectors.

NOW ACCEPTING

NOTICE
OSAMUTRA COMPANY LTD.

N OTIC E IS HEREBY GIVEN as follows:

NOTICE
DLEBTA LIMITED

N OTIC EIS HEREBY GIVEN as follows:

immediate applications:

An established marketing company requires a marketing
manager with good communication skills, sales

(2) OSAMUTRA COMPANY LTD. is in voluntary experience, drivers license, and personal transportation.

dissolution under the provisions of Section 137 (4)
of the International Business Companies Act 2000.

(a) DLEBTA LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the

International Business Companies Act 2000. We are looking for energetic, career minded individuals

to aid us with our expansion goals. Must be able to
create, educate, train, develop and motivate by following
company policies and maximizing sales and profits

(b) The dissolution of the said company commenced on : : :
the 27th April, 2010 when the Articles of Dissolution (b) ey ene igure dea rr ai

were submitted to and registered by the Registrar
General.

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

Dated this 4th day of May, A. D. 2010

CST Administration (Bahamas) Limited
Liquidator

Legal Notice

NOTICE
FANTEC VISTA

INVESTMENTS LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

LIVINGSTONE ENTERPRISE LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P.O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Dissolution were submitted to and registered by
the Registrar General.

(c) The Liquidator of the said company is Peter
Leppard of c/o 1 Raffles Link #05-02 Singapore
039393.

Dated this 04th day of May A. D. 2010

Peter Leppard
Liquidator

Legal Notice

NOTICE
GARSON PLAINES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

ZACAPA INTERNATIONAL LIMITED
(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., P O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)

through our earning opportunity.

Should possess strong team building and development

skills.

Excellent base salary plus bonus.

lf you are motivated by directly influencing the success
of others, please e-mail
marketingsales2010 @hotmail.com

Legal Notice

NOTICE
KOBALT HOLDINGS LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., PR O. Box N-7757 Nassau,

Bahamas.

ARGOSA CORP. INC.
(Liquidator)

Legal Notice

NOTICE

PENHURST INVESTMENTS PTE. LTD.
(In Voluntary Liquidation)

Notice is hereby given that the above-named

Company is in dissolution, which commenced
on the 30th day of April 2010. The Liquidator is
Argosa Corp. Inc., PR O. Box N-7757 Nassau,
Bahamas.

ARGOSA CORP. INC.
(Liquidator)



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

TUESDAY, MAY 4, 2010, PAGE 11B



WOMAN





The Tribune

©



ith





The importance of wearing sunglasses

By REUBEN SHEARER
Tribune Features Reporter
rshearer@tribunemedia.net



Bahamians protect their eyes
from damaging ultra-violet
light, a leading opthamologist

stressed yesterday.

Dr Jonathan Rodgers, of Pearle
Vision in Harbor Bay Shopping
Plaza told Tribune Health of a
recent study done years ago that
an estimated two weeks worth of
sunlight in the Bahamas works out
to a year of sun exposure in Cana-
da.

"It behooves Bahamians not to
leave home without sunglasses, and
to wear them every time they go
outside," he said. Dr Rodgers said
it is important for persons to start
wearing sunglasses from an early
age, since persistent exposure to
sunlight over the years causes the
onset of eye conditions.

According to www.preventblind-
ness.org, UV-A rays can hurt your
central vision. It can damage the
macula, the oval-shaped yellow
spot near the center of the retina of
the human eye.

UV-B rays, which may cause
even more damage to your eyes are
absorbed mostly by the front part
of your eye (the cornea and the
lens), the site explained.

Wearing protective sunglasses,
with 100 per cent protection from
UV-A and UV-B rays will take
care of the harmful ultra-violet light
rays, and preserve your vision.

While your budget will determine
the brand and style of lenses you
choose, it is imperative that you
purchase a brand that provides 100
per cent UVA/UVB protection.

@x

t is extremely important that

Long-term exposure to UV rays
can lead to cataracts, macular
degeneration, or skin cancer
around the eyelids.

Cataracts is the clouding of the
normally clear lens of your eye, and
can be caused from direct, strong
UV rays hitting the eyes over the
years.

“But If you live long enough you
are destined to get a cataract,” said
Dr Rodgers.

UVA light is still a major con-
cern in old age, especially if you
have light colored eyes, which may
predispose you to developing this
eye condition.

Macular degeneration is a dis-
ease caused by looking directly in
the sunlight, which can burn your
retina. Excessive sun exposure can
also lead to photokeratitis -sunburn
of the cornea, which is quite
painful, but reversible.

Corneal burns can occur in those
who visit the beach. Bright land-
scape-like sand can reflect up to 80
per cent of UV radiation. This
painful condition can result in tem-
porary loss of vision.

Dr Rodgers says patients don’t
often request prescription sun-
glasses, but when they do come in,
he recommends “Transitions” lens-
es or another brand which darkens
as you go outside, and lightens
when you enter a room.

Everyone is susceptible to eye
damage from the sun year-round,
doctors say. And the greatest risk
period of negative sun exposure is
from about 10am to 4pm. Frequent
beach-goers, fishermen, farmers,
and others who spend time in the
sun for extended periods are said to
be the highest at-risk groups. It is
recommended that those persons
wear shades that wrap straight
around the eyes.

LOVING RELATIONSHIPS















WEARING protective sunglasses, with 100 per cent protection from UV-A and UV-B rays will take care of the harmful ultra-

violet light rays, and preserve your vision.



Men and Sex: What really attracts men?



IT REALLY does not take a degree
in Human Sexuality to determine that
men are visual people. Not only is the
topic widely discussed, but as women we
have grown up witnessing it. We only
have to observe men’s eyes following an
attractive woman walking down the
road. Some are discreet and let their
eyes do the talking, whilst others allow
their whole body to communicate their
interest. To acknowledge their appre-
ciation, they may even include a ‘cat
whistle’ or ‘seek. ‘As long as there are
no crude or derogatory comments
attached, then an added spring can usu-
ally be seen in her step. But, does every
woman have such an affect, or is it just
a certain type of woman?

Taste preferences play a prominent
role in the first impression look. Love
types are imbedded in our subconscious
from an early age and we continually
pull on memories to see if someone fits.
This is usually not a conscious decision,
but an ‘Tlike that’ thought. At times, we
may veer off the path but over time we
find ourselves returning to our original
map. What may be considered attractive
to one man may not to another, and
the old adage ‘Beauty is in the eye of
the beholder’ is certainly true.

Putting aside our individual leaning
towards a certain look, men are unques-
tionably drawn to feminine curves.
Their desire and imagination is tweaked
by the silhouette, and the eyes will
return for more if the ‘Love Map’ has
been triggered. The intrigue continues
when eyes meet and an instant connec-
tion is made. Physical and sexual ener-
gy can ignite at this point and an imme-
diate attraction has started.

The opening conversations are impor-
tant to a man to assess real interest.
Light flirting is useful to ‘test the waters’
without investing too much time and
energy. It is also effective in establishing
personality, intellect, temperament and
approachability. For things then to
move forward, men need encouraging
feedback and mutual curiosity.

The power of a relaxed smile can not
be underestimated. A positive self
assured aura portrays sexual confidence,
which is alluring to all those in close
proximity. Add a sense of humour and



the overall sex appeal becomes mag- ity.

netic and hard to resist.



Men look for the same level of inter-
est and enthusiasm when a woman
becomes their sexual partner. Equal
participation and a steady flow of ener-
gy add to the ease of communication. In
order to reach maximum arousal, and to
stimulate all our senses, women should
not forget the visual and touch appeal of
lingerie.

Male societal pressure is often hard
for women to fully appreciate. Women
are used to being pursued and seduced.
They have the power to choose to sur-
render and it is this that many men
envy. Men are excited by the idea of
being seduced by an attentive and con-
fident woman. To be desired, taken,
and overcome by their lover’s passion
fuels the image of exquisite vulnerabil-

If we took the time to question a cross
section of men we would probably hear
similar qualities expressed by women.
Both genders are looking for the ‘full
package’: Sex appeal, intelligence,
thoughtfulness, dependability, and
devoted love. Understanding this lets
us know that ‘beauty is only skin deep’.
If we work on ourselves and develop
good self confidence and respect, then
this will be reflected in our passion for
life.

¢ Listen to ~ Love on the Rock ' with Mag-
gie Bain every Thursday 5-6pm on Island
FM 102.9 For appointments . call 364
7230 , email relatebahamas@yahoo.com
or www.relatebahamas.blogspot.com.



Pee eeereesceseseseeseeseeseeesaoesed

eee ecccseeseesercsecesseces

eeeceeseecceccessecseesees

ereescceseecceve

Pregnancy and
Chiropractic Care

IF YOU are pregnant,
one of the best things you
can do for yourself and
your baby is to see a doctor
of chiropractic. Yes, chiro-
practic adjustments are safe
during pregnancy. Doctors
of Chiropractic make alter-
ations in technique and
patient positioning to
accommodate for the
increase in belly and breast
size. Many Chiropractic
adjusting tables are special-
ly designed with abdominal
pieces that ‘drop-away'’,
allowing the pregnant
woman to lay face down.

During pregnancy, a
women’s body secretes hor-
mones that help to relax
her ligaments. Without
these hormones, her pelvis
would not expand enough
to allow the birth of the
baby. When you add the
increase in weight, shift in
center of gravity and the
change in biomechanics
(due to the weight--all out
in front!), it is no wonder
that pregnant women are
prone to back pain. Most
often, during pregnancy,
low back pain is a result of
vertebral subluxations and
muscle spasm. A vertebral
subluxation is the misalign-
ment of a bone in your
spine. Subluxations cause
muscle spasm and stress on
the spine which causes pos-
tural distortions which in
turn affect nerves, muscles,
and mobility of joints.
Gentle chiropractic adjust-
ments help ease the low
back pain and keep your
body (nerves, muscles,
organs, etc.) functioning at
their optimum.

Low back pain is the most
common reason that preg-
nant women seek Chiro-
practic care. The degree of
pain ranges from barely
noticeable to debilitating,
with stabbing or shooting
pain into the legs and but-
tocks.

Pain in the mid-back
becomes more frequent as

the breasts become denser
from milk gland produc-
tion. Increases of hormones
also contribute to headache
occurrence. Women, who
suffer migraines and were
taking medication prior to
becoming pregnant, often
look to Chiropractic for
relief, since they can no
longer take the medication.
Many patients actually find
that the adjustments are
more effective than the
medications.

Aside from 'symptom
relief’, receiving Chiro-
practic care during preg-
nancy has other benefits to
mother, baby and upcom-
ing labour. The uterus is
supported by ligaments that
attach to the pelvis. If the
bones in your pelvis are
subluxated, it can put ten-
sion on those ligaments.
This can cause a decrease
in space in the uterus, as
well as, in the pelvis ring.

It is important to ensure
that the pelvis is aligned
properly to allow optimal
opening during labor.
Women, who have under-
gone Chiropractic adjust-
ments during their preg-
nancy, report that their
labors are easier and less
stressful on their bodies.

Many ‘side effects’ of
pregnancy can be reduced
with Chiropractic adjust-
ments ... low back pain,
leg cramps, mid-back pain,
neck pain, headaches,
carpal tunnel symptoms,
and even nausea. Don’t
just grin and bear it, find a
chiropractor who is trained
in caring for pregnant
women and start enjoying
your pregnancy. Chiro-
practic care through preg-
nancy is not only safe, it is
essential!

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





PAGE 18
ir :

TUESDAY, MAY 4,



2010



Mayweather
knocks ‘sugar’

off Shane...
See page 19



Slatter, Smith win titles a
Legends Bowling Classi

SPORTS

INBRIEF

TENNIS



MATCHES in the
World Junior Tennis com-
petition are slated to get
underway March 29 in the
North/Central America and
The Caribbean Regional
Pre-Qualification event in
Trinidad and Tobago with
the No.6 seed Bahamas
Girls U14 team taking on
Aruba at 12:30pm.

The Bahamas team is led
by Erin Strachan playing the
No.1 singles, Gabriella
Bowe No.2 singles and
Dominique Mortier the
No.3 player on the team.

The girls’ team plays in
Pool 3 with Honduras, El
Salvador and Aruba.
Bahamas girls play El Sal-
vador on Tuesday and No. 3
seed Honduras on Wednes-
day. The captain of the girls’
team is Artie Johnson of
Eleuthera.

The Bahamas Boys U14
team is seeded No.2 and
plays out of Pool 6 with
Antigua and Barbuda and
the Netherland Antilles.
Boys’ team is led by Justin
Roberts playing the No. 1
singles, with Philip Major
playing No. 2 singles and
Treajh Ferguson in the No.3
singles position.

The team has a bye in
the first round and begins
play 8:30am Tuesday
against the Netherland
Antilles. The final match in
the round robin format will
be against Antigua and Bar-
buda 8:30am Wednesday.

The winner of Pool 6 will
advance to the main draw
on Thursday with a chance
to play for the champi-
onship. Bradley Bain, Nas-
sau, will captain the boys’
team.

There are 18 boys U14
teams from around the
Caribbean and Central
America, the Dominican
Republic is seeded No.1,
Bahamas No.2, Guatemala
No.3 and Puerto Rico No. 4.

On the girls’ side there
are 17 teams with Puerto
Rico and Guatemala No. 1
and No. 2 respectively.

The World Junior Tennis
Competition ends April 3
with the overall winners in
the boys and girls division
going on to compete in the
World Junior Tennis Qual-
ification event against the
US, Canada, and Mexico
April 30 — May 1, 2010, in
Florida.

BASEBALL
JBLN RESULTS

RESULTS of games
played over the weekend in
the Junior Baseball League
of Nassau at the St
Andrew’s Field of Dreams
are as follows:

TEE BALL

Raptors def. Blue Claws
17-16; Sidewinders def.
Grasshoppers 21-8; Knights
def. Sand Gnats 20-17.

COACH PITCH

Padres def. Pirates 17-7;
Cubs def. Athletics 13-9;
Angels def. Diamondbacks
10-4.

MINOR LEAGUE

Royals def. Brewers 10-
8; Rockies def. Red Sox 9-3;
Orioles def. Mets 8-6.

MAJOR LEAGUE

Reds def. Marlins 17-14;
Indians def. Mariners 23-5.

JUNIOR LEAGUE

Dodgers def. Rays 11-1;
Yankees def. Twins 12-11.

SENIOR LEAGUE

Phillies def. Giants 15-6;
Nationals and Tigers played
to 6-6 tie game.





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

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

Ithough it was

originally

designed for

competitors

aged 50 and
over, two slightly younger vet-
eran players emerged as cham-
pions of the first Legends BowIl-
ing Classic.

The week-long competition
concluded Sunday night at Mar-
io’s Bowling and Family Enter-
tainment Palace with David
Slatter and Angela Smith win-
ning the men’s and women’s
titles respectively.

It was the first major bowling
tournament held in New Prov-
idence in more than a decade,
due to the fact that the Village
Bowling Lanes was sold out to
a furniture store and Mario’s
Bowling just recently opened
its doors to the world-class 50-
lane facility.

Slatter, a 46-year-old former
champion in the Bahamas Fed-
eration of Amateur Bowlers’
prestigious Rothmans National
Championships that was a hall-
mark at the Village Bowling
Lanes, had a scratch total of
236 to finish 13 pinfalls ahead of
his nearest rival, Mario Brown,
with 223.

Rounding out the top five
were Dave Moxey with 191,
Sonith Lockhart with 161 and
Johann Pyfrom with 181.

Slatter completely dominated
the competition in the men’s
division as he went on to post
the highest set of 1,479 and the
highest game of 289.

At the end of the qualifying
round, Slatter led the field of
33 competitors with a total
scratch of 4,069 from 18 games
bowled for an average of 226.

Moxey, 42, trailed with 3,915
and a 218 average, while
Pyfrom sat in third with 3,812
and a 212 average. Lockhart
was fourth with 3,799 and a 211
average and Pyfrom ended up
fifth with 3,799 and a 210 aver-
age.

Smith, a 47-year-old former









national female champion,
turned in a scratch total of 191
to top her field. She was fol-











es

BOwWYLPING CLASSIC







lowed by Joanne Woodside-
Powell with 187, Janice Hoyte
with 168, Cheryl Rolle 148 and
Petrina Cartwright with 145.

However, Woodside-Powell,
52, produced the highest set of
1,219 and the highest game of
254.

Just seven women partici-
pated in the female segment
with Woodside-Powell taking
the qualifying round with a
total of 3,346 pinfalls for an
average of 186.

In order of finish were Janice
Hoyte with 3,184 and a 177
average, Angela Smith with
2,752 with a 153 average,
Cheryl Rolle with 2,745 and a
153 average, Cynthia Saunders
with 2,649 and a 147 average,
Petrina Cartwright with 2,627
and a 146 average and Marion

VO10O



MEET THE WINNERS and organisers of the Legends Bowling Classic...

Photos by Felipé Major/Tribune staff



Jolly with 2,428 and a 135 aver-
age.

Gregory Wilkinson, the assis-
tant director of marketing and
special events at Mario’s, said
despite the fact that the num-
bers were not as significant as
they originally planned, the
tournament was still a success.

“We anticipate a greater par-
ticipation in the future when
we hold an International Open
Tournament,” Wilkinson said.

“But we were very pleased
to get this one off. Hopefully,
the interest will slowly get back
to where it used to be.”

Exciting

finish in

making
for BAISS
volleyball
playolis

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

AS the Bahamas Association
of Independent Secondary
School’s athletic calendar
comes to an end, the final sport
on the association’s schedule
gears toward an exciting finish.

After yesterday’s single elim-
ination playoffs, championship
matchups in the BAISS senior
division volleyball league are
all set.

In senior boys play, the
Queen’s College Comets and
Kingsway Saints will square off
in a matchup of the league’s
top two teams all season long.

The Saints were the first to
advance when they topped
Bahamas Academy 17-15, 17-
16 and the Comets followed
suit shortly thereafter with a
win over the Westminster
Diplomats, 17-11, 17-16.

Both teams finished the reg-
ular season with identical
records of 7-1, however, the
Comets held the tie breaker
and entered as the No.1 seed.

Both the Stars and Diplo-
mats finished the season at 5-3.

In the senior girls division,
the St Andrew’s Hurricanes is
slated to face the St Augustine’s
College Big Red Machine.

The Hurricanes finished as
the league’s pennant winners
with a record of 7-1, while the
Big Red Machine were one of
three teams to finish at 6-2.

Although the top-seeded
team, the Hurricanes had the
most difficult road to the cham-
pionship, but outlasted the
Comets in a three-set thriller.

St Andrew’s won the match
17-16, 10-17, 15-13, while the
Big Red machine cruised to the
championship with a 17-10, 17-
9 win over the Saints.

The format of the champi-
onship game will be the best
two out of three sets to 25
points, no cap, with two clear
points.

If a third set is needed it will
be played to 15 points with no
cap, two clear points. The
games are scheduled to begin at
the St Augustine’s College cam-
pus at 4pm.

The volleyball season for
juniors begins on May 10 with
girls games scheduled for Mon-
day, Wednesday and Friday
while boys will play Tuesday
and Thursday.










TRIBUNE SPORTS



Bolt wins
200 in
19.56s in
Jamaica
meet

KINGSTON,
Jamaica (AP) —
Usain Bolt won
the 200 meters
in the Jamaica
International
Invitational in
19.56 seconds,
the fourth-
fastest time ever.

Bolt's time
Saturday at
National Stadium was 0.37 sec-
onds off the world record of
19.19 that he set last year in the
world championships in Berlin.

The Olympic star also ran a
19.30 in the Beijing Olympics,
and has run 19.57 twice.
Michael Johnson has the third-
best time at 19.32.

Bolt, who also holds the
world record in the 100, said he
is not trying to break records
this season and "just wanted to
come out here and give Jamaica
a good show."

American Wallace Spearmon
was second in 19.98.

Veronica Campbell-Brown
won the women's event in
22.60. Also, Bolt rival Tyson
Gay won the men's 400 in
45.05.



BOLT

A COANANKemOrM Aes
in 3, Braves
sweep Astros



ATLANTA (AP) — Jason
Heyward knows the Atlanta
Braves can’t dwell on their
three-game sweep of slumping
Houston.

Heyward said the Braves,
like the Astros, “are still in last
place and still have some work
to do.”

Heyward and Melky Cabr-
era each drove in three runs
and the Braves beat Houston

Hull relegated,
Arsenal loses
at Blackburn

By ROBERT MILLWARD
AP Soccer Writer

LONDON (AP) — Steve
Gohouri’s stoppage-time equal-
izer for Wigan relegated Hull
from the Premier League after
a 2-2 draw on Monday while
Arsenal lost 2-1 at Blackburn
for its fifth game without a win.

Leading 2-1 after goals by
Will Atkinson and Mark
Cullen, Hull looked set to take
its relegation fight down to the
final round of games before
Gohouri scored with an acro-
batic, overhead kick from close
range.

The result means that Hull,
promoted two seasons ago, can-
not catch 17th-place West Ham
and is relegated to the League
Championship, along with
Portsmouth and Burnley.

Arsenal chased a victory at
Blackburn to guarantee finish-
ing third, which would have
sent it straight into the group
phase of next season's Cham-
pions League, avoiding the
qualifying rounds.

Striker

Arsenal striker Carlos Vela
missed an open goal after only
two minutes when he pulled a
cross from Theo Walcott wide
of the far post but the visitor
went ahead through Robin van
Persie's close-range header
from Samir Nasri's cross.

David Dunn equalized in the
44th minute when a low cross
by Keith Andrews was deflect-
ed into the path of the
unmarked midfielder, who
tapped the ball home for his
10th goal of the season.

Arsenal 'keeper Lukasz
Fabianski made top-quality
saves to keep out shots from
Morten Gamst Pedersen and
David Hoilett while Mikael Sil-
vestre almost turned a flicked-
on, long-range throw by Ped-
ersen into his own net,

From the corner, however,
Fabianski failed to get to the
ball and Christopher Samba
headed home from close range
in the 68th minute.

While Blackburn's victory
sent the team up three places to
10th, Arsenal can still be caught
for third by either Tottenham
or Manchester City, which each
have a game in hand but play
each other on Wednesday.

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





HISTORY repeats itself as,
for the second year running,
the St Andrew’s School Hur-
ricanes had all four teams
make it to the Bahamas Asso-
ciation of Independent Sec-
ondary Schools (BAISS) soc-
cer finals. And, for the second
year in a row, three of those
four teams took home the
championship.

The senior girls defeated
Temple Christian 3-0, the



7-1 on Sunday, handing the
Astros their sixth straight loss.

“Let’s keep it going,” Hey-
ward said. Heyward, the rook-
ie sensation who had homers
in three straight games before
Sunday, had two hits. He ranks
among the NL leaders with sev-
en homers and 23 RBIs and has



FLOYD MAYWEATHER JR (right), connects with a punch against
Shane Mosley during their WBA welterweight match in Las Vegas

SPORTS

senior boys beat St John’s 2-0,
and the junior boys swept
Queen’s College 8-0.

Pennants

All four pennants were won
by the Hurricanes soccer
teams, and they had a com-
bined record of 24 wins and
no losses, only conceding one
goal.

In this year’s BAISS soft-

demonstrated a flair for key hits
in his first month in the major
leagues.

“T think what makes it most
impressive is when he gets his
hits and RBIs,” Braves starter
Derek Lowe said. “You know
it’s not by accident he’s having
the success he’s having.”





Saturday. Mayweather won in a unanimous decision.

LAS VEGAS (AP) — In
recent months, with emphat-
ic victory after emphatic vic-
tory, Floyd Mayweather Jr
and Manny Pacquiao each
staked their claim to being
boxing’s best. But their
dream bout remains uncer-
tain, even unlikely.

The pendulum swung
back toward Mayweather
after his thorough destruc-
tion of Shane Mosley on Sat-
urday night. Mayweather
proved he could overcome
two shots that buckled him,
and silenced critics with an
onslaught of righteous right
hands.

But Mayweather’s latest
boxing clinic only served to
harden the stances of two
sides that remain as far apart
as their current locations,
here and in the Philippines.

Pacquiao is still opposed
to blood testing and is run-
ning for political office back
home. Mayweather is still
demanding blood testing
and running his ever-active





Mayweather
knocks ‘sugar’
off Shane

(AP Photo)

‘Dream’ bout
with Pacquiao
uncertain



mouth.

“T paved the way,” he
said. “All roads lead to
Floyd Mayweather.”

Boxing being boxing, the
fight that makes the most
sense, the only welterweight
fight that really makes any
sense at all, remains in jeop-
ardy.

In November, Pacquiao’s
brutal beating of Miguel
Cotto shot his stock sky-
ward, but the PPV numbers
and interest in this fight only
bolstered Mayweather’s
claim to being boxing’s
biggest draw.

Both sides insist they want
to deliver a bout between
Mayweather and Pacquiao,
but what both really mean
is they want to make that
fight happen on their terms.








JUNIOR BOYS (top left), junior girls (top right), senior boys (above left) and senior girls (above right) soccer teams...

St Andrew’s Hurricanes

soccer teams victorious

ball, basketball, and soccer, St
Andrew’s has brought seven
teams to the championships
and won four.

Their senior boys softball
team, and the junior boys and
senior girls soccer teams all
won for the third year run-
ning, with their senior boys
team winning for the fourth
consecutive year.

Also, amazingly for a school
its size, the Hurricanes fin-

The Braves outscored the
Astros 21-4 in their first three-
game sweep of Houston since
2003. The modest winning
streak followed nine straight
losses, Atlanta’s longest skid in
almost four years. The losing
streak was capped by an 0-7
road trip.



Multi-





1






TUESDAY, MAY 4, 2010, PAGE 19





ished fifth in the BAISS track
& field competition, despite
lacking for numbers in certain
age categories.

Said Frank Coyle, head of
secondary at St Andrew’s:
“Like with academic results,
the true quality of our stu-
dents is realized due to the
work of excellent teachers and
coaches. The greatest resource
in a school is the teacher or
coach.”



“We needed to get on track,
we needed to get back to win-
ning games,” said Braves catch-
er Brian McCann, who scored
two runs. “That road trip wasn’t
us. We need to make sure it
was just a bump in the road.

“This was a big series for us.
Big, big series.”

Australia beats
Pakistan by
34 runs at
World T20

__ CRICKET



CASTRIES, St Lucia (AP)
— Shane Watson lashed 81
off 49 balls and Australia’s
pace attack followed up with
some incisive spells Sunday
to lead their team to a 34-run
victory over Pakistan at the
World Twenty20.

The 28-year-old Watson
slammed seven fours and
four sixes to anchor Australia
to 191 all out off 20 overs.
David Hussey provided an
explosive 53 off 29 deliver-
ies, containing two fours and
five sixes.

Left-arm fast bowler
Mohammad claimed 3-23 and
provided a dramatic final
over in which five wickets fell
for no runs to keep Australia
under 200. Off-spinner Saeed
Ajmal took 3-34.

Shaun Tait took 3-20, Dirk
Nannes claimed 3-41 and
Mitchell Johnson picked up
2-21 as Australia undermined
Pakistan’s chase, which end-
ed limply to be bowled out
for 157 in the 20th over.

Misbah-ul-Haq topscored
with 41, while captain Shahid
Afridi compiled 33 off 24
balls.

Pakistan, which beat
Bangladesh on Saturday,
ended the preliminary stages
with one win and one loss.

The final match in Group
A pits the Australians against
Bangladesh on Wednesday
in Barbados.

Earlier, Watson and David
Warner set the tone in an
opening stand of 51 off 5.4
overs after the Aussies won
the toss and batted.

Even when Warner fell for
26 off 18 balls and captain
Michael Clarke was gone for
2 at 64-2, Australia main-
tained its surge.

Watson, who survived two
difficult chances to Misbah,
passed fifty off 31 balls with
successive sixes off Moham-
mad Hafeez.



iscount Furniture

Whiens:

EXTRAVAGANZA

WEE K
Mondav Mav 3rd - Saturdav May 8th

15% Off Storewide
10% Off Appliances

Regular Discounted Prices Only



ON L Y



Shipment
of Linens
Arriving Daily

/

Rous
TO GO»



E

MULTI DISCOUNT FURNITURE AND APPLIANCES






YOU
CANNOT
BEAT OUR
PRICES NOT
EVEN IN MIAMI!




APPLIANCES BY FRIGIDAIRE
WE ACCEPT ALL MAJOR CREDIT CARDS

Montrose Avenue

Phone:

R@@MS
iKerees

(Just North of Bahamas Bus & Truck Co)

322-2536 ° 325-2040 ° 323-7756 ° 326-7494











xml version 1.0 encoding UTF-8
REPORT xmlns http:www.fcla.edudlsmddaitss xmlns:xsi http:www.w3.org2001XMLSchema-instance xsi:schemaLocation http:www.fcla.edudlsmddaitssdaitssReport.xsd
INGEST IEID EQDBKRNKS_9QTL3Y INGEST_TIME 2011-07-26T20:11:34Z PACKAGE UF00084249_01563
AGREEMENT_INFO ACCOUNT UF PROJECT UFDC
FILES