Citation
The Tribune

Material Information

Title:
The Tribune
Uniform Title:
Tribune (Nassau, Bahamas)
Portion of title:
Nassau tribune
Place of Publication:
Nassau, Bahamas
Publisher:
Tribune
Publication Date:
Frequency:
Daily, except Sunday
daily
normalized irregular
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

Genre:
newspaper ( sobekcm )
newspaper ( marcgt )
Spatial Coverage:
Bahamas

Notes

General Note:
Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item.
Resource Identifier:
09994850 ( OCLC )

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Volume: 106 No.138



The Tribune





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www.tribune242.com

FRIDAY, MAY 7, 2010





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‘My Son Is going
to hang nimself

Mum’s desperate bid
to save 21-year-old
ends in tragedy

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A MOTHER frantically
tried to prevent her son from
committing suicide shortly
before he was found hanging
from a tree in a graveyard
yesterday.

She rushed to Nassau Street
Police Station after confiscat-
ing a rope from her son who,
she said, was intent on killing
himself and needed psycho-
logical help.

Officers accompanied her
to her home in South Street
just after 9am but found her
son had gone.

About half an hour later he
was discovered hanging from
a large guinep tree in the
graveyard behind Bethel Bap-
tist Church, in Meeting Street.
It’s the church his mother reg-
ularly attends.

Last night, police had not
officially identified the
deceased, however neigh-
bours said he was 21-year-old
Trevon Williams, who was

unemployed and lived with
his mother.

Mona Etienne, of nearby
West Street, told The Tribune
how she discovered the body,

She said she called two
groundskeepers to cut him
free from the tree branch, but
it was too late.

“Tf he wasn’t dead I would
have helped him, I would
have given him CPR,” she
said.

Assistant Superintendent
of Police Philip Don Wilson,
who is in charge of the Nassau
Street Police Station, was at
the scene but was reluctant to
identify the deceased or draw
conclusions about how he
might have died yesterday.

He said: “The mother left
him at home prior to going to
the station and brought a
noose, a rope, she had taken
from him earlier in the morn-
ing.

“She told us he was going
to kill himself and officers
responded immediately.

SEE page 12

WHY ARE $0 MANY







re

te

One of es



capees acquitted of KP

pape, Kidnapping, armed robbery

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net



ONE of the two men, who
escaped from the Central Police Sta-

tion on Tuesday, was acquitted of

rape, kidnapping and armed rob-
bery charges yesterday.

After two-and-a-half hours of

deliberation, a jury of six women
and three men found Renardo Bas-



RENARDO
BASTIAN

tian, 20, not guilty on all seven of the charges against

SEE page 16







ASP Philip Don Wilson (above)
speaks to the media yesterday
from the scene (main photo)
| where the 21-year-old was
—| found hanged.












=








Stafford Sands on
$10 debate rages on

THE DEBATE continued earlier this
week over the government’s decision to
return the image of Sir Stafford Sands to the
Bahamas’ $10 banknote, replacing the
image of Queen Elizabeth I.

On ZNS’ Issues of the Day radio pro-
gramme hosted by Krissy Love, callers
voiced their support and condemnation of
the government’s idea as the show engaged
in a wider discussion on race relations in

SEE page 12







Alfred Sears

‘received no

money’ from
‘Ninety’ Knowles

By NOELLE NICOLLS
Tribune Staff
Reporter

nnicolls@
tribunemedia.net



ALFRED Sears, Fort
Charlotte Member of
Parliament, said yester-
day he has received no
money from convicted
drug trafficker Samuel
“Ninety” Knowles, who
operated businesses in
his constituency.

He made his declara-
tion during his contribu-
tion to the debate on the
Speech from the Throne.

Knowles was first
indicted in 2000 by a fed-
eral grand jury in Florida
for smuggling cocaine.
He was extradited by
Bahamian authorities in
2006 after spending six
years at Her Majesty’s
Prison fighting extradi-
tion.

Florida courts convict-
ed him in 2008 of con-
spiracy to import cocaine
and possession with the
intent to distribute
cocaine. He was sen-
tenced to just under 30
years behind bars.

Mr Sears disclosed the
information after stating

SEE page 16







MP calls for laws
against ‘secret
political contributions’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

“SECRET political contri-
butions” from foreign entities
could raise suspicion of cor-
ruption in the Bahamian polit-
ical process, Fort Charlotte MP
Alfred Sears said yesterday in
the House of Assembly.

He called for laws to be put
in place requiring disclosure of
all political contributions from
foreign entities to political par-
ties and individual politicians.

Mr Sears said financial con-
tributions to both political par-
ties from the Grand Bahama
Port Authority was an indica-
tion of contributions from a for-
eign entity. The Port Authority
is primarily owned by foreign-
ers and one of its principal own-
ers, Sir Jack Hayward, is non-
Bahamian.

Sea Breeze Member of Par-
liament Carl Bethel challenged
whether the Port Authority
should be described as a for-
eign entity, considering it has
been domesticated in the
Bahamas for 50 years and is a
municipal authority in Grand
Bahama.

According to Mr Sears, the

SEE page 16



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NASSAU AND BAHAM/

ISLANDS LEADING NEWSPAPER



PAGE 2, FRIDAY, MAY 7, 2010

THE TRIBUNE

LOCAL NEWS

CHEZ WILLIE RESTAURANT DEMOLISHED

a

DEMOLITION WORK at the Chez Willie Restaurant
yesterday.

By ALESHA CADET



BOTH wings of the Chez Willie Restaurant building on
West Bay Street were demolished yesterday.

Craig Flowers, who recently bought the building, told
The Tribune the original structure was compromised
when the restaurant was expanded some years ago.

He said: “I would like to put the old home structure
back there. [am comfortable and proud of restoring one
of the old home sites.

“We want to further improve the downtown Bay Street
appearance; a better face-lift for the downtown area.
We are doing our best to preserve what was there 60
years ago.”

Mr Flowers did not say how he plans to use the build-
ing once it has been restored.

Tim Clarke/Tribune staff







INDEX

MAIN/SPORTS SECTION
Local News
Editorial/Letters

BUSINESS SECTION

Business

CLASSIFIED SECTION 36 PAGES

USA TODAY MAIN/SPORTS 12 PAGES

Don't Miss the b
Book Signing Event!

Lady Pindling

will be with us )
Saturday May 8th
1]:00am - 1:00pm

©) to autograph her
latest book
“Al Biography of Lady

Marguerite Pindling" Q

By Gail Saunders

OPEN for Breakfast
Monday - Friday 7:30am, Saturday 9:00am

Harbour Bay Shopping Plaza
Telephone: 394-7040
www. logosbahamas.com

Check Our Facebook Page!



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



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Bishop Randy
Fraser retrial set
to continue today

BISHOP Randy Fraser is
expected back in court today as his
unlawful sex retrial continues.

The retrial, which began before
Magistrate Carolita Bethell last
May, is expected to continue
before the magistrate this morn-
ing.

Fraser, who is on $10,000 bail, is
accused of having a sexual rela-
tionship with a 16-year-old girl
between July 2005 and February
2006.

He is represented by attorney
Wayne Munroe.

Franklyn Williams, assistant
director of Legal Affairs, is prose-
cuting the case.

Gunmen attack man and woman outside their homes

POLICE are investigating the armed
robberies of a man and a woman — who
were attacked outside their homes by
gunmen during two separate early morn-
ing incidents.

The first occurred sometime around
9.04 am Wednesday at Herbert’s Way
in the South Beach area.

Police were told that a woman, while
sitting in her white 2003 Honda Accord,
which was parked in her yard, was
approached by a man armed with a hand-
gun.

The man demanded cash before rob-
bing the victim of her car, license plate
number 1915999, which contained her
handbag and other personal effects.

The culprit fled the area in an
unknown direction, said Press Liaison
Officer Sgt Chrislyn Skippings.

Later that day, around 11.30 am police
received information of an armed rob-
bery at Ludlow Street off Mount Royal
Avenue. Police were told that a 42-year-
old man, while outside his home, was
approached by another man, armed with
a handgun.

The culprit, wearing a black hat, white
t-shit and plaid shorts, robbed the vic-
tim of his jewellery, then jumped over a
western wall and fled in an unknown
direction.

Police investigations continue.





In other crime news, a man is in hos-
pital after being stabbed by another man
while standing with a friend in the Wilson
Track area.

According to Sgt Skippings, police
were called to the scene around 12.31
pm Wednesday and were told that two
men, ages 23 and 24, were in the Wilson
Track area when they were approached
by another man who attacked them.

At some point during the fray the two
men were stabbed. The victims were
taken to hospital. As of press time, one of
the victims was treated and discharged,
however the other remained in hospital
in stable condition.

FIREARM ARREST

A 28-year-old man is assisting police in
their investigations after officers found an
AK-47 rifle hidden in the ceiling of a
bathroom during a search of a home in
the Chippingham area.

Around 9.10 am Wednesday officers of
the Southern Division executed a search
warrant on a residence at Rose Bud
Street in Chippingham. They searched
the home and recovered the high pow-
ered assault rifle (AK47) in the ceiling of
the bathroom.

A 28-year-old male was taken into cus-
tody.

DRUG ARREST

POLICE found a quantity of suspect-
ed marijuana in an unlikely hiding place
—a toilet — while searching a home near
the East Street area.

Around 7.45 pm Tuesday, officers of
the Southern Division executed a search
warrant on a home at Plantol Street off
East Street. After searching the home
they found a quantity of suspected mar-
ijuana hidden in a toilet.

Three people were taken into custody,
a 40-year-old woman and a 45-year-old
man, both of Plantol Street, and a 22-
year-old man of Sea Breeze.

Investigations continue.

UNLICENSED FIREARM ARREST

THREE men are assisting police when
officers found a handgun and ammuni-
tion after searching a home on Soldier
Road.

Police said the search occurred around
2.30 pm Wednesday. Officers of the
Select Enforcement Team, acting on
information, executed a search warrant
on a residence at Soldier Road near Bail-
lou Hill Road. There they recovered a
handgun with ammunition. Three men,
two who are 29 years old, and the other
42 years, were taken into custody.

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THE TRIBUNE

Plan of action to be formed

in event of oil spill risk

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



LOCAL officials will meet
next week or earlier to form
a plan of action in the event
weather conditions push a
giant oil spill in the Gulf of
Mexico towards the Florida
Straits — putting the western
Bahamas at risk.

International scientists are
monitoring the slick's move-
ments to determine if it will
move along the eastern coast
of the United States through
the "loop current" - a warm
ocean current that moves
clockwise through the
Caribbean Basin to the Gulf
of Mexico and then the
Florida Straits.

Such a move could send
the spill around Florida and
into the Atlantic Ocean, pos-
sibly leading to oil covered
beaches and the death of
marine life in that area,
according to the Associated
Press.

This could also put Cay
Sal Bank, the Bimini chain,
the western side of Andros
and West End, Grand
Bahama at risk, said Com-
mander Patrick McNeil,
head of the National Oil
Spill Contingency Team.

Yt ARNT

Memorial Service for
SCLIB RE BET ATCT

A STATE-RECOG-
NISED memorial service
will be held for the late
Patricia, Lady Isaacs, for-
mer Deputy to the Gov-
ernor General, at 3pm at
the Parish Church of the
Most Holy Trinity, Staple-
don Gardens, Friday, May
14.

Lady Patricia, wife of
the late Sir Kendal Issacs,
former Leader of the Free
National Movement
(FNM), died on Monday,
April 26.

She was a former
matron of the Princess
Margaret Hospital where
she served for many years.
Later she became a train-
ing officer in the Bahamas
Public Service and assisted
with the development of
future senior public offi-
cers.

The public will be able
to sign the Book of Con-
dolence at the church on
Thursday, May 13, from
11.30 am to Spm. The ser-
vice will be carried live on
the radio.









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"The reason why we have
to watch out is one of the
important factors is whether
or not a system comes in and
changes the (slick's) flow. If
a system does come in and
change the flow and it travels
up the Florida Straights, it
would affect the western
Bahamas," he said.

Representatives of the
BEST Commission, the

National Geography Infor-
mation Agency, the Depart-
ment of Meteorology, the
National Emergency Man-
agement Agency along with
police and Defence Force
officers met on Tuesday to
discuss emergency strategies
should the massive spill head
our way.

"We will meet again carly
next week but we are still

Ship stranded on sand
bank freed and inspected

THE German container ship that became stranded on a
sand bank near Bimini earlier this week has been freed and
inspected, and is now back in service with Crowley Shipping.

According to Mark Miller, director of corporate communi-
cations at Crowley, the vessel has been freed by its owners, who
conducted an inspection of the craft and discovered that the ves-

sel had incurred no damage.

The Stadt Hannover has since been cleared to re-enter the
service of Crowley Shipping and is expected to off-load its

cargo some time this morning.

Following this procedure, Mr Miller said, the Stadt Han-
nover is expected leave Nassau and travel to Jacksonville,
Florida as it continues on its scheduled route.

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monitoring very closely the
situation as it develops in the
Gulf in terms of what the
engineers and scientists are
doing. In the event that
things turn for the worse and
it does come via the Florida
Straights, then we will meet
earlier," added Commander
McNeil.

Environment Minister
Earl Deveaux has said local
officials will appeal to the
international community and
oil industry stakeholders
doing business in the
Bahamas for help in the
event of a worse case sce-
nario.

The spill was a result of an
April 20 explosion and fire
on the drilling rig Deepwater
Horizon, which killed 11
workers.

Since then, oil has gushed
into the Gulf of Mexico at
an estimated rate of 210,000
gallons per day as clean-up
crews scramble to contain it.





FRIDAY, MAY 7, 2010, PAGE 3

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The ‘all-ai-Marsihen
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM







PAGE 4, FRIDAY, MAY 7, 2010

THE TRIBUNE

The ‘noise’ about

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

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

New clashes in Greece over austerity cuts

ATHENS, Greece — Greek lawmakers
approved drastic austerity cuts Thursday
needed to secure international rescue loans
worth $140 billion and clashes briefly erupt-
ed in the streets outside parliament, forcing
police to use tear gas.

In New York, the Dow Jones industrials
plunged 1,000 points in less than half an
hour on fears that Greece's debt problems
could halt the global economic recovery.
The Dow managed to recover two-thirds of
its losses and close down 347 at 10,520.

There were reports that the sudden drop
was caused by a trader who mistyped an
order to sell a large block of stock. The drop
in that stock's price was enough to trigger
"sell" orders across the market.

Still, the Dow was already down more
than 200 points as traders watched protests
in the streets of Athens on TV.

The new clashes came a day after violent
protests left three people dead after a bank
was firebombed in Athens.

Greek lawmakers voted 172-121 to
approve the austerity measures — worth
about $38.18 billion through 2012 — that
will slash pensions and civil servants' pay
and further hike consumer taxes.

The rescue loans are aimed at containing
the debt crisis and keeping Greece's troubles
from spreading to other countries with vul-
nerable state finances such as Portugal and
Spain. The money will come from the Inter-
national Monetary Fund and the 15 other
governments whose countries use the euro.

Fears of Greek default have undermined
the euro, and while the current package
should keep Greece from immediate bank-
ruptcy, its long-term prospects are unclear.
The country's growth prospects are weak,
and the population's willingness to accept
cutbacks may wane, leading some econo-
mists to predict an eventual debt restruc-
turing somewhere down the road.

Opposition parties lambasted the gov-
ernment for imposing measures that are too
harsh for the population to bear.

"The dose of the medicine you are admin-
istering is in danger of killing the patient,"
conservative opposition leader Antonis
Samaras said.

Clashes in Athens broke out at the end of
a main protest that drew tens of thousands of
people as police pushed back a few thou-
sand demonstrators outside parliament.

The violence was quickly contained with
riot police firing tear gas at the protesters,
who had earlier pelted them with stones,
oranges and bottles. Several small fires
burned in surrounding streets. No injuries or
arrests were reported.

Demonstrators banging drums and shout-
ing anti-government slogans through bull-
horns, unfurled a giant black banner out-

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side parliament earlier Thursday. More than
30,000 demonstrators filled downtown
streets, chanting: "They declared war. Now
fight back."

Prime Minister George Papandreou
expelled three Socialist deputies who dis-
sented in the vote, reducing the party's num-
ber of seats to 157 in the 300-member par-
lament.

"We have done what was necessary, not
what was easy," Finance Minister George
Papaconstantinou said after the vote. "With-
out these measures, we'd be thrown into the
deepest recession this country has ever
known."

Samaras also expelled a dissenting law-
maker, former Foreign Minister Dora
Bakoyannis, reducing his share of parlia-
mentary seats to 90.

The bulk of Thursday's protest — organ-
ised by the Greek Communist Party —
quickly dispersed, leaving about 5,000
demonstrators outside parliament before
police pushed them back.

Protester Thodoris Mougiakos said he
was angry the IMF would control Greek
finances.

"It's blackmail," the 32-year-old engi-
neer said. "There is money, but they spend it
on things like armaments and businesses.
The church has money too. If we had been
drawing money from all these sources, we
wouldn't be in this situation now.”

But the protest remained peaceful, in
contrast with Wednesday's rioting that left
three people dead, 59 injured and 25 people
arrested. Police said 50 stores, banks and
offices were damaged and seven vehicles
damaged or burned.

Papaconstantinou said Greece would
default on debt payments this month unless
it received the bailout loans from the Inter-
national Monetary Fund and 15 euro-zone
countries that had remained divided for
months on how to aid Athens.

"Today things are simple. Either we vote
and implement the deal, or we condemn
Greece to bankruptcy," Papandreou told
parliament before the vote.

"Some people want that, and are specu-
lating (on it), and hope that it will happen,"
he said, referring to speculative attacks that
have been blamed for raising Greece's bor-
rowing costs to unsustainable levels. "We, I,
will not allow that. We will not allow specu-
lation against our country, and bankruptcy to
happen.”

European governments are now scram-
bling to get parliamentary approval for the
Greek loans. European leaders will meet
on the issue in Brussels today.

(This article was written by Elena Beca-
toros, an Associated Press writer).





moves to legalise
numbers business

EDITOR, The Tribune.

With the illegality of the
local numbers business
about to become legalised,
many are asking what is all
the noise about. We do not
know the exact numbers as
to who is for or against this
legalisation, but we know
that there is great support
with special interest groups,
even the government, who
see legalisation or regula-
tion as a good way to get
into the very large cash
flows associated with this
activity.

Regulation, may be a bet-
ter description of what is
going to happen, because it
is doubtful that the govern-
ment would allow Bahami-
ans to gamble at any of the
local tourist resorts. This
also brings up the possibility
of legal challenges, by
Bahamians who see the law
in its present form as a bar-
rier to them exercising their
full rights in their own
nation.

The “noise” in the reli-
gious community has a pre-
emptive purpose. Accord-
ing to the historical social
text, it is those who can least
afford to gamble will be
drawn into it, and when this
happens people who are
looking for “hope” will have
a bigger problem. Ultimate-
ly, it will be social entities
within the government and
Church sponsored pro-
grammes that will have to
fill the gap created by per-
sons who will suffer. The
phrase “everybody wins”
cannot be substantiated in
any context, if those who
can least afford to are pay-
ing. There is an underlying
problem that is not seen by
many. When this regulation
kicks in and the numbers
market expands, it can be
likened to the creation of
new financial instruments;
the underlying problem will
be that these entities will
have a basis that cannot be
quantified because they will
be based on human greed
and perceived opportunity.
Did the government and
those responsible do their
homework regarding this
issue? I am doubtful. Many
of our leaders are old
enough to remember how
the Race Track on Cable
Beach almost closed down
work in Nassau every Tues-
day and Friday, I even
remember one of my broth-
ers skipping school on cer-
tain days. I know that the
modern technology and con-
veniences will allow many

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LETTERS

letters@tribunemedia.net



citizens to remain at work
and still indulge in what they
were doing previously
before legalisation/regula-
tion, and these persons are
among those who can
afford, but the government
will have to keep a close
account of how overall pro-
ductivity is affected as the
new era comes on stream. It
is also conceivable that there
will be a corresponding rise
in criminal activity, it is
being speculated that this
may cause the government
to rethink their decision.

The Prime Minister has
indicated that the decision
is yet to be made, and like
his mentor, “he knows his
people”, and he does not
need a crystal ball to see
what is ahead.

In 1992, his party achieved
victory because his former
party had left many things
undone and refused to fulfil
their own stated mandate of
moving the nation forward.
Instead they created a cli-
mate of fear and apprehen-
sion in which the question
of Bahamians having a work
ethic became an interna-
tional topic, but we showed
what we were able to do if
we wanted to. It is possible
that the legalisation/regula-
tion decision will create a
similar environment, in
which the work ethic of this
nation will come into ques-
tion again, but my primary
objection is more funda-
mental. In 1973, we estab-
lished a nation whose people
are on record as stating that
we will “have an abiding
respect for Christian val-
ues.” Even though the road
has been difficult we have
managed to keep a veneer
of that phrase in place, but if
we make the changes that
are being proposed, we
would have broken this

agreement since we are real-
ly stating in this amendment
or bill that we no longer rely
on a Sovereign God to meet
our needs. In effect we
would have broken the first
commandment and the God
that we claim to serve is no
longer obligated to protect a
chain of islands just above
sea level, out in the middle
of the Atlantic Ocean. Some
of us are of the opinion that
we have just been lucky over
the years, but I beg to differ.

EDWARD
HUTCHESON
Nassau,

May 2, 2010

PS: Some of us will still be
“lucky”, but I prefer to use
the words “blessed” or “for-
tunate”. Just yesterday (Sun-
day) a lady stopped by a
“web shop” to “put some-
thing down” and was in such
arush that she returned to a
locked vehicle. The keys
were in it, the windows were
up and there was a young
child trapped inside.
Onlookers were not suc-
cessful in trying to open the
vehicle and after a while it
was evident that the child
was going to have a prob-
lem. A policeman showed
up surveyed the scene and
smashed one of the win-
dows. The woman got very
noisy and upset about the
window being smashed.

Lucky child. Was she the
mother? Was it her vehicle?
I don’t know, but I do know
what she saw as being
important. “Woe unto you
who bring pain to one of
these little ones, in the name
of whatever......... ” (my
paraphrase). In the face of
what is going on in society,
and our pre-occupation with
stuff, one can accurately pre-
dict that our children and
those who are dependent
will become (more) expend-
able.

EDWARD
HUTCHESON

is Sir Arthur Foulkes the eighth

TULUM Cl UD STC Le

EDITOR, The Tribune.

BURTON HALL
The Hague,
The Netherlands.



The recent appointment of Sir Arthur Foulkes has revived
the question of the correct numerical references to holders
of that post. Whether he is the eighth or ninth is determined
by whether Sir John Paul, the last Royal Governor was sub-
stantively Governor General between 10 July 1973 and Sir
Milo Butler's assumption of office on 1 August.

T recall Sir Leonard Knowles, Chief Justice at the time,
having written that Sir John Paul was sworn in as the sub-
stantive holder of the post. However, some other sources
claim that he was only acting for that period.

It would be useful to learn what the official records reveal.

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THE TRIBUNE



70 per cent of Bahamians
are ‘overweight or obese’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



SIXTY per cent of the
population die from obesity
related chronic diseases, with
80 per cent of this number
attributed to persons living
in poverty, revealed Health
Minister Dr Hubert Minnis.

While giving his contribu-
tion to a resolution thank-
ing the Governor General
for his Speech from the
Throne in the House of
Assembly, Dr Minnis added
that 70 per cent of the
Bahamian population is
either overweight or obese,
an unhealthy lifestyle that
has become so prevalent that
some primary school stu-
dents have hypertension —
high blood pressure —
underscoring the need for
government intervention.

While not getting into
specifics the MP for Killar-
ney said a new Medical Act,
as promised in Sir Arthur
Foulkes’ April 14 Speech
from the Throne, will pro-
vide the foundation to help
Bahamians suffering from
such chronic diseases as dia-
betes and hypertension.

"In the Bahamas today, 60
per cent of our population
die from certain chronic non-
communicable diseases. But
when you look at those dis-
eases, 80 per cent of those
individuals who die belong
to the poor class. Should we
not do something to assist
that group or should we just
allow them to fall by the
wayside?

“As [reviewed certain
Statistics,” he said, “I was
more than shocked to find
out that individuals within
(the) sixth grade in the
Bahamas are suffering from
hypertension. The problem
that is causing it is because of
our obesity.

"Seventy per cent of our
population is either over-
weight or obese. Look at the
quality of life we will have

FRIDAY, MAY 7, 2010, PAGE 5

LOCAL NEWS

Health Minister tells MPs that 60 per cent of
population die from obesity-related diseases







“I was more than
shocked to find out
that individuals
within (the) sixth
grade in the Bahamas
are suffering from
hypertension.

The problem that is
causing it is because
of our obesity.”



sixth graders today are suf-
fering from hypertension, by
the time they reach 12th
grade or by the time they
reach 19, 20 we will have a
boom of individuals who are
suffering from strokes. Indi-
viduals 18, 19 needing renal
transplants, heart attacks,
etc, and therefore it is essen-
tial, this government recog-
nising that setting the foun-
dation to ensure that we
manage obesity, to ensure
that we manage hyperten-
sion."

In his contribution to the
debate, Blue Hills MP Sid-

for our young population if ney Collie told Parliament

Chinese jobs needed
to justify expenditure

NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



CARIBBEAN business mogul John Issa, executive chairman
of SuperClubs’ Breezes, said he understands why a large num-
ber of construction jobs at the Baha Mar development will go
to citizens of China, which is providing substantial funding for
the project.

He also expressed his confidence that the project will yield
many permanent jobs for Bahamians after the construction
phase is complete.

“How could the Chinese justify to their people that they
are investing all this money half way around the world without
ensuring the construction company is getting exposure and
work for the Chinese people?

“Otherwise, the Chinese people will tell their government to
build it on their beaches in China. I don’t see a problem with the
Chinese company and government wanting to create jobs,”
Mr Issasaid.

Economic experts say China is facing a labour surplus, so
their strategic investments abroad are an opportunity to create
jobs. The vast majority of the 4,920 work permits requested by
Baha Mar investors for the peak construction phase of the
project are for Chinese workers. There will also be more than
2,500 Bahamian construction workers on the job, and Baha Mar
officials say they will create 8,000 permanent positions.

SuperClubs Breezes Bahamas is one of the few major resorts
in the country with an all-Bahamian staff. There are 300 peo-
ple employed at Breezes, and Mr Issa emphasised that all of
them — including the eight executive team members and 13 man-
agers — are Bahamian.

Proud

“We are very proud of our record in terms of the Bahamian
executive team members and management team at Breezes
Bahamas. It is probably a unique case for a hotel of our size,”
said Mr Issa.

Jackson Weech, Breezes general manager, said: “From a
Bahamian perspective it is rather significant. There has been
over the years no shortage of questions about, a) Bahamians
being able to effectively manage, and b) being able to manage
at the highest level. Taking into consideration those points, I
think we have done something exceptional here.

“We have faced all the challenges the wider industry has
faced, the highs and lows, and in the main we have been able to
do a good job,” he said.

Breezes survived the economic downturn without having to
lay off workers or place them on rotation, unlike other resorts,
including the properties owned by Baha Mar. Mr Issa said this
was a result of “aggressive marketing and attractive pricing”.

Breezes sits on the edge of the Baha Mar development zone,
and the resort’s executives say they are looking forward to
the redevelopment of Cable Beach as it will enhance the
ambiance of the area and give New Providence a “great lift”.

Many Breezes guests make use of the Crystal Palace Casino,
owned by Baha Mar, and Mr Issa said they will benefit from the
planned expansion and upgrade.

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





that the promised package
of land reform Bills — a Land
Adjudication Bill, Law of
Property Act, Registered
Land Act and the Probate
of Estates Act — will simplify
land disputes and reduce
land fraud cases.

He also noted that
promised legislation to
amend the Parliamentary
Elections Act will overhaul
laws that allowed for the
"unholy fiasco" in the Par-
liamentary Registrar's
Department ahead of the
2007 national elections and
February's by-election.

Opposition MPs Philip
“Brave” Davis and Obie
Wilchcombe criticised Sir
Arthur's speech arguing that
it did not reflect current
social needs such as job cre-
ation or reducing the fear of
crime. Mr Davis, represen-
tative for Cat Island, Rum
Cay and San Salvador, also
chastised the Ingraham
administration for keeping
the public in the dark by not
explaining its reasons behind
its new legislative agenda
during the Speech from the
Throne arguing that most of
it rehashed unfulfilled
promises from 2007, when
the FNM assumed office for
its third non-consecutive
term.

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PAGE 6, FRIDAY, MAY 7, 2010
LOCAL NEWS

THE TRIBUNE



Potcake the ‘hood cap’ man



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IN the final part of The Tribune’s look at
the life of street philosopher Potcake, Tri-
bune242 Editor Jessica Robertson
discovered how a hit song led to the
creation of a Bahamian legend. And don’t
forget, starting next Wednesday The Tri-
bune will bring you a weekly selection of
Potcake’s writings for your enjoyment and
contemplation. If you miss him on the
street, you'll find him right here in your

favourite newspaper.





AFTER his descent into and
drink drugs, Potcake cleaned him-
self up ... and took to driving
around an old beat-up white
truck.

It was around the time Phil
Stubbs came out with his hit song
Cry of the Potcake, and since he
loved the song, he put the words
“Potcake for Hire” on the back of
the truck.

It didn't take long for people
in the street to start calling him
Potcake and the name stuck. He
doesn't like telling people his real
name saying: "When they ask, I
tell them Potcake will do. You
call me Potcake and I'll answer
to that.”

His small time bush mechanic
gig came to an end when the cars
that had piled up in the yard as
customer after customer was
unable to pay for parts were
towed off to the dump by the gov-
ernment in the lead up to an elec-
tion.

But this street-savvy man saw
opportunity on the side of the
road.

"One day I start to notice hood
caps (sic) laying in the road. I say
boy they look good and shiny. So
I start picking them up," he
explains.

This was when the Harbour
Bay Shopping Centre was under
construction, Potcake used to line
them up on the curbside and wait
for people to come and buy them.

He realised the real value in
hubcap sales when the man who
was building the plaza asked ‘boy,
you ain't get my Rolls Royce hub-
cap there?’

Potcake assured him he didn't,
but promised to keep an eye out.
Amazingly, someone he knew
brought him a Rolls Royce hub-
cap not long after.

"T took that hood cap and I car-
ried it to Mosko's house. He
looked at it good and he give me
$200 for that hood cap."

His mobile store as he likes to
call his trolley, is laden with hub-
caps and he has a large collection
at home just in case someone's
looking for something unusual.

Some he buys, others people
he's never even met collect and
bring to him to add to his inven-
tory.

He won't accept or buy used
hubcaps from just anybody
though. "I don't like to buy no
hood caps from jonesers when
they bring them because I believe
they steal them,” he says with con-
viction.

On a good week he says he can
make between $200 and $300 sell-
ing his merchandise and the worse
the roads are, the better he makes
out.

He was probably the only per-
son not elated with the recent re-
paving exercise on Shirley Street.
The way he sees it, the more pot-
holes there are, people are more
likely to seek him out.

"T like when BEC and BaTel-
Co and water works dig up this
road. I could sit right there by the
big hole they dig up and just pick
up hood caps as cars pass because
they just keep dropping off," he
chuckles.

In fact, his route in large part, is
dictated by people's driving habits.

"You see, what happens is a lot
of people speed around Montagu
and drop their wheel covers in the
night. Many times when I walk
through Montagu, not only do I
get some sales, but I find a few
hood caps on the ground."

For the past eight years, Pot-
cake's mobile store has been
adorned with his deep thoughts
about every-and anything written
on pieces of cardboard. While the
first signs were written in ball-
point pen, a fan brought him thick
black and red markers one day





and the signature look was creat-
ed.

Potcake writes things that many
people wish they could say. He
writes what comes to mind -
sometimes offering commentary
on the hot news topic covered in
the day's Tribune newspaper, and
sometimes his writings are based
on things he sees, hears or expe-
riences as he makes his way along
his route which covers Montagu to
Church Street.

There's no topic he won't
broach even though he's fully
aware that some people get
offended by some of his signs.

"People whose feelings get
hurt, I think they hurt other peo-
ple feelings too. Sometimes you
need to mash some people's corns
who mash other people's corn to
show them how it feel,” he says.

He often posts negative mes-
sages aimed at black people. But
he insists "it's not discrimination,
if that's what you think."

"T put plenty signs about black
people. I does make them pay.
You see black people they hurt
my feelings so much. Black people
does work ya and don't pay ya
and send you crazy. A lot of black
people come buy my things and
they always short me. The white
people pay me and tip me. And
when they stop they smile at me
when they buying things. So I put
a sign say ‘thank God for the
white man. The white man put
food on my table"

Every once in a while, though,
he realises that a particular sign
has struck a nerve and he changes
it faster than usual, not necessar-
ily to save hurt feelings, but to
avoid any possible trouble for
himself.

Over the years, the often bare-
backed sunglass-wearing man
pulling a shopping trolley covered
with hubcaps and curious signs
has caught the attention of Hol-
lywood producers.

His old Potcake for Hire truck
was featured in the movie 'Flip-
per’, he was paid $2,000 to push
his trolley on the set of ‘After the
Sunset! starring former James
Bond actor Pierce Brosnan, and
most recently, he had a cameo
appearance in the Nassau install-
ment of the Ministry of Touris-
m's 14 Islands Film Challenge.

A few years ago, Bahamian
artist Blue Curry bought Pot-
cake’s original trolley and the hub
caps on it at the time, made a doc-
umentary that was featured in the
National Art Gallery of The
Bahamas.

People have blogged about
him, fan clubs have cropped up
on social networking sites and a
picture with Potcake or pushing
his trolley has become a must-
have souvenir for many tourists.

He had no idea when he
penned that first sign that his
thoughts would gain him such
notoriety, but enjoys the atten-
tion and little bit of power he
wields.

His most dedicated fans get
upset if he doesn't have some-
thing new posted on his trolley
each afternoon, and if you look
closely at some of his signs, you
realise he's hardly at a loss for
things to write. As he wanders the
streets each day, he scribbles sign
ideas on his pieces of cardboard,
many of them witty as ever, but
never written in black and red
marker and displayed for all to
see.

Potcake doesn't feel pressured
to keep doing what he does, but
enjoys coming up with things to
make people think and talk. As
long as people are reading, he
intends to keep on writing.

Don’t miss Potcake’s weekly
musings, starting next Wednes-
day only in your Tribune.

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





THE TRIBUNE FRIDAY, MAY 7, 2010, PAGE 7

LOCAL NEWS

Bahamian festivities climax with a Colours junkanoo performance at star-studded event

Bahamas HMC T.CELLULAR
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PICTURED (left-right) VINCENT Vanderpool-Wallace, Minister of Tourism and Aviation; Jackie
Edwards, Bahamian long jumper; Eureka Glinton, Bahamas Film and Television commissioner manager
in Los Angeles; Rick Fox, former Los Angeles Laker and actor; Vernice Walkine, Tourism Director Gen-
eral, and Anita Johnson-Patty, general manager of communications with the Bahamas Tourist Office.

THE Bahamas relocated
to the US west coast for one
star-studded night to entice
high-profile Los Angeles
residents to travel to the
islands for vacations and
investments.

The Ministry of Tourism
and Aviation presented
“Bahamas in LA” at the
Beverly Hills home of music
and film producer Tracey
Edmonds.

More than 200 guests
attended the event which
was filled with Bahamian
treats and festivities, cli- mes a ®
maxing with a Colours ey AF ee
junkanoo performance. Sieh! BEF

Among the guests were ye eo
Bahamian athletes, includ- PICTURED: (left to right) VERNICE Walkine, Director General of the
ing actor and former NBA Bahamas Ministry of Tourism and Aviation; Vincent Vanderpool-
star Rick Fox and Olympic Wallace, Minister of the Bahamas Ministry of Tourism and Aviation;
long jumper Jackie US Ambassador to the Bahamas Nicole Avant, and film and TV pro-
Edwards. ducer Tracey Edmonds.





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They mingled with other
celebrities such as actors
Tyrese Gibson, Vivica A
Fox and Kenya Moore.

Nicole Avant, United
States Ambassador to the
Bahamas, was honoured as
the special guest of the
event. “Bahamas in LA
brought the flavour of the
Bahama islands to some of
the influential people in
entertainment in Los Ange-
les,” said Anita Johnson-
Patty, general manager for
offshore communications in
the Ministry of Tourism and

Aviation. “This especially
focused on African Ameri-
can entertainment, which is
important because the
African American travel
market is estimated to be
worth $4 billion annually.”

Ministry of Tourism offi-
cials also drew guests’ atten-
tion to the many film mak-
ing opportunities available
in the Bahamas. Most
recently, a large portion of
Tyler Perry’s ‘Why Did I
Get Married Too’ was
filmed on location in
Eleuthera.

Ms Johnson-Patty said the
Bahamas in LA event whet-

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PAGE 8, FRIDAY, MAY 7, 2010

LOCAL NEWS

Deputy PM leads the Bahamas’
delegation to Caribbean conference

By BAHAMAS
INFORMATION
SERVICES

THE ongoing topics of a
earthquake-stricken Haiti,
climate change and the shift-
ing geopolitical dynamics in
the Hemisphere were on the
agenda for the 13th Regu-
lar Meeting of the Council
for Foreign and Community
Relations (COFCOR) of
the Caribbean Community
in Roseau, Dominica, this
week.

Deputy Prime Minister

and Minister of Foreign
Affairs Brent Symonette led
the Bahamas delegation to
the two-day conference
which began on Wednesday.
He was accompanied by
Eugene Torchon-Newry,
first assistant secretary in the
Ministry of Foreign Affairs.
This annual meeting of
the Council brings together
community foreign ministers
to review and address cur-
rent issues of import to the
region. The current chair of
COFCOR is Dominica.
Senior officials of CARI-

COM member states met in
preparatory sessions at the
headquarters of the Secre-
tariat in Georgetown,
Guyana, on April 8-9 to
review the agenda to be con-
sidered by the Foreign Min-
isters in Dominica.

Earthquake

Salient among the items
are: CARICOM’s response
to the catastrophic Haitian
earthquake; the changing
geopolitical dynamics in the
Hemisphere; climate

change; CARICOM’s role
in other hemispheric and
international organisations,
for example the United
Nations, the Organisation of
American States, and the
Association of Caribbean
States; CARICOM’s rela-
tions with other regions and
countries, and the roles of
Caribbean parliamentarians
and civil society in the
Caribbean Community.
With respect to Haiti, the
foreign ministers will follow
up developments since the
establishment of the Interim

Haiti Reconstruction Com-
mittee and the launch of the
Action Plan for the Recon-
struction and National
Development of Haiti.

The dialogue on the
geopolitical dynamics will
address a broad range of
issues confronting the region
and will review the recom-
mendations of the Unity
Summit of the Heads of
State and Government of
Latin American and
Caribbean countries, which
met in February 2010 in
Cancun Mexico

THE TRIBUNE







ety
BRENT SYMONETTE



With respect to the issue
of climate change, foreign
ministers will review the out-
come of the 15th meeting of
Conference of the Parties of
the United Nations Frame-
work Convention on Cli-
mate Change held in Copen-
hagen, Denmark, in Decem-

ber 2009 and preparations

PM says collaborative effort needed
to restore Bahamian value system

THREE decades of “rapid mod-
ernisation” has distorted so much of
the Bahamian value system that it will
take a collaborative effort involving
government, church and community
organisations to restore them, Prime
Minister Hubert Ingraham said.

Mr Ingraham said the result of this
erosion of traditions has been an
increase in crime and most alarming-
ly, rising domestic violence which con-
tinues to mar the country’s social
landscape.

Addressing members and patrons
attending the first annual Most Wor-
shipful Prince Hall Grand Lodge
White Tie Gala Ball recently, Prime
Minister Ingraham said:

“There is an urgent need for all the
various social partners — government,
the church and community associa-
tions, including fraternal organisa-
tions — to collaborate in addressing
these challenges, independently and
together, acting so as to meet the
needs of the most vulnerable and
needy in the community.”

“Many of our young people, par-
ticularly our young men, are in need
of wholesome direction and guidance.
Some feel overwhelmed and could
benefit from learning better coping

skills and improving their
communication skills so
that disagreements are
not so easily escalated
into violence,” Mr Ingra-
ham added.

The Prime Minister
said he has always had a
special admiration “for
those Bahamians who
spend so much time and
effort in the work and
witness of Freemasonry”
in the Bahamas.

He said Freemasonry,
in addition to building
character in men, by
extension, helps to build
the moral and spiritual
character of the wider
community.

Mr Ingraham said that unlike in
earlier times, many young people are
not the beneficiaries of a stable home
life in which two parents, or other
supportive family members, are com-
mitted to their upbringing, and where
discipline and instruction for life are
easily available.

The Prime Minister encouraged
members of the Prince Hall Masonic
Order to continue to increase their

THE GARDENS

Math INGRAHAM



activities within the vari-
ous communities “so that
we may together begin to
correct the social anom-
alies threatening our
communities today.”

“Lodges have played a
significant role in the
lives of thousands of
Bahamians all over our
islands,” Mr Ingraham
said. “Like our churches,
lodges and friendly soci-
eties have served both to
bind people together and
as instruments of com-
munity among people.

“The Masonic Order,
in particular, based on
fundamental Christian
principles, has promoted
severe discipline amongst its mem-
bers, the great majority of whom I
am told, attempt in their ordinary,
daily lives to practice high morality
and spiritual principles.

“T encourage you to review your
agenda and programmes so as to
include an even stronger stand in sup-
port of our young people,” Mr Ingra-
ham added.

The Gala White Tie Ball was held

at the Wyndham Nassau Resort to
honour the contributions to Bahami-
an society of three of the country’s
nation-builders and sons — Arthur
Hanna and Sir Clifford Darling (both
former Governors-General) and Sir
Clement Maynard, a former Deputy
Prime Minister who held several min-
isterial posts.

Lady Zoe Maynard received the
plaque on behalf of her late husband
who was honored posthumously,
while Rev Dr C B Moss received the
plaque on behalf of Sir Clifford Dar-
ling.

Mr Hanna and Sir Clement both
received the highest honorary award
conferred by the Prince Hall Grand
Lodge, Past Grand Master status,
while Sir Clifford received the highest
honorary award that can be conferred
by a Lodge — Past Master.

All three were active members of
Prince Hall Lodges before duty to
country called them to serve the
Bahamas.

“These three men represent some
of the best of the Bahamas and it is
most appropriate that they are being
held up as role models for the gener-
ations of Bahamians who follow
them,” Mr Ingraham said.

for COP-16 to be held in
Cancun, Mexico, in Decem-
ber 2010.

Piracy

The Bahamas proposed
several items for the consid-
eration of the meeting,
including Maritime piracy,
in light of the acts of piracy
perpetrated against mar-
itime shipping and the
importance of this matter to
the Bahamas Maritime Reg-
istry as well as Global Mar-
itime interests; and the scale
of assessment for United
Nations Peacekeeping
Operations (PKO), which
must find a formula that is
fair and equitable and must
take into account a member
state‘s vulnerability and
capacity to pay.

An important feature of
the meeting will be a retreat
of foreign ministers during
which they will review the
rules of procedure and func-
tioning of the COFCOR
itself, with a view to improv-
ing its efficiency and effec-
tiveness, as well as to deter-
mine the strategic direction
of the region’s foreign policy
in the face of global chal-
lenges and opportunities.

NURSERY

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to live life to the full.

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comes to mind at the most random of times - during 6 Nations
rugby internationals, whenever Marshall Crenshaw comes on

the radio, at the mention of anything to do with Jamaica.

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he entered the room. Those of us who continue co frequent his
old haunts still Fere=| his Prscnoe and derive ger eaat comfort and
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Tel: 242-326-3401 - 12 St. Albans Drive, Nassau

(Opposite Premier Importers)

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We all miss you!

Ultvd Jones & Friends.







Share your news

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award.

If so, call us on 322-1986
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Notice is hereby given that the Thirtieth (30th)
Annual General Meeting of THE PUBLIC
WORKERS’ CO-OPERATIVE CREDIT UNION
LIMITED, will be held at the British Colonial
Hilton Hotel, Bay Street, on Friday, May 21,
2010, commencing at 6:30 p.m. for the following
purposes:

* To receive the report of The Board of
Directors.
* To receive the Audited Report for 2009

* To elect members of The Board of Directors,
Supervisory Committee and Credit Committee

* To discuss and approve the budget for 2011

All eligible members, wishing to run for a
position on the Board of Directors, Supervisory
Committee or Credit Committee, are asked to
submit their names to the Credit Union’s Offices
in Nassau or Freeport, no later than Monday,
May 17th, 2010, by 4 p.m.

ALL MEMBERS ARE URGED TO ATTEND

REFRESHMENTS WILL BE SERVED!



ATLANTIS

PARADISE. ISLANDn

PAGE 12, FRIDAY, MAY 7, 2010

THE TRIBUNE



LOCAL NEWS



Sir Stafford Sands on
$10 debate rages on

FROM page one

the Bahamas.

One caller, identified as Eric said that
Sir Stafford should not have been taken
off the $10 bill in the first place by the
PLP as he did more for the Bahamas in
tourism than any other one person.

Another caller said that he did not
see why the debate is continuing to be
waged as Sir Stafford clearly had done
much for the Bahamas.

Early in the week, opposition
spokesman for Foreign Affairs, Fred
Mitchell condemned the FNM’s deci-
sion to return the image of Sir Stafford
to the $10 bill after it has been taken
off during the PLP administration.

Although generally recognised as the
“principal architect” of the modern
Bahamas economy, Mr Mitchell said
that if the PLP were to regain the gov-
ernment in 2012, this decision would be
one that would be reversed once again.

“T think it’s an inappropriate tempting
of fate in the face of the earlier dispute,

and my position is the same; he should
not be on the $10 bill, and that it should
be removed if there is an opportunity
for the PLP to do so at some future
point,” the Fox Hill MP said.

However, another caller on Issues of
the Day said that if persons have con-
tributed to the building of the nation —
post 1973 — they should be the ones
who are considered for being placed on
the nation’s currency.

“Now as far as it pertains to Sir
Stafford and his legacy to the entire
Bahamas, his contribution is massive.
So if they want to erect a bust of him
over at the Treasury Department, the
Central Bank, or the Ministry of
Tourism, or whatever other areas where
he played a significant role; name build-
ings after him,” he said.

Another caller, identified as Pauper
said that Bahamians need to mature and
understand that while Sir Stafford was
not a perfect man, he, like Sir Lynden
Pindling, had made a tremendous con-
tribution to the Bahamas and should be

honoured as such.

“T think we need to grow up and be
politically more mature. I don’t know
the reason, Krissy, like you said why
they took him off the bill. I didn’t have a
problem when they put him on it. See.
Krissy, I understand this to be us cele-
brating the good about Sir Stafford
Sands.

“Sir Stafford Sands wasn’t perfect. Sir
Lynden wasn’t perfect, but he is still on
the dollar bill.

“So let’s celebrate, grow up and be
mature.

“Don’t worry about all the bad things
that Sir Stafford Sands did, and how the
majority of us might be black and some
of them was white. Let’s think about the
good that Sir Stafford do and the good
what Sir Lynden do. That is why we put
them there,” he said.

The well-known caller continued to
plead for Bahamians to move away from
the black and white issue as the racism
“baggage” needs to be dropped so that
the populace can be “mentally freed.”

‘My son is going
to hang himself’

FROM page one

“Then we found the life-
less body of a young man
about 6ft tall, 180lbs, wear-
ing a grey T-shirt and
beige trousers, lying on the
ground with a rope near-
by.”
Members of the commu-
nity flocked to the grave-
yard, crying in disbelief, at
the loss of the young man.

“It wasn’t supposed to
be like that, he wasn’t sup-

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posed to go like that,”
cried Ms Etienne.

“His brother just came
to him and cried; he would
not let him go.”

The young man’s mother
was too distraught to
speak to the press yester-
day morning.

ASP Wilson said she
told police her son had
been a patient at Sandi-
lands Rehabilitation Cen-
tre and wanted police to
take him there.

But neighbours were

unaware he had any psy-
chological issues and say
he seemed well when
socialising with them ear-
lier yesterday morning.

“He was a friendly per-
son, everybody knew him,”
a local man said.

“This is a real shock to
the community.”

ASP Wilson said the
death would not be classi-
fied until the investigation
is complete, and an autop-
sy has determined the
cause of his death.

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THE TRIBUNE PAGE 13

Spor



ts

FRIDAY, MAY 7, 2010

INSIDE ¢ Pauline to get her gold — finally





SHIRE)
SETIEUIL

Nassau ‘Nastic’s Savannah
Brady makes history as
youngest Bahamian to win all
around gymnastics award







SPORTING HISTORY: Savannah Brady



BY ARTHIA NIXON,
The Ambassador Agency



Jupiter, Florida... At an age when most children
are caught up watching Spongebob Squarepants or
struggling with third grade lessons, Savannah Brady
has been busy on sealing her name in Bahamian sports
history by becoming the youngest gymnast from her
country to win an all around award at a tournament —
and she’s done it at the ripe old age of eight!

Brady, who has trained with Coach Lavette Saun-
ders for nearly three years has proven that Nassau
‘Nastics is pushing out some potential Olympians by
beating athletes much older than her during the two-
day CATS Beach Blast Tournament in Jupiter, Florida
last week.

“T don’t feel any pressure,” said Brady when asked
if she is overwhelmed by putting her nation on the map
in gymnastics. “I tried my best and gave it my all and
so now I have to work even harder.”

Working hard is something Brady will have to
continue doing especially now that she has moved up
from Level 4 to Level 5. She admits that her favorite
event is the balance beam and that she struggles some-
times on her least favorite event, the bars.

At the CATS tournament, Brady got first place on
vault and floor. She got second place on the beam and
third place on the bars.

“Savannah has certainly made Nassau ‘Nastics
proud,” said Head Coach Trevor Ramsey. “There are
so many doors open for gymnasts including scholar-
ships. Savannah has already attended the International
Gymnastics Camp in the Poconos, Pennsylvania. She
has the drive and dedication and certainly the potential
to make it to the Olympics. She certainly has the tro-
phies and medals to attest to efforts in the sport.”
Despite the winning the highest honor at the CATS
Beach Blast, Brady’s promise from her mother
Michelle is what she considers her more valued prize.

“Based on her training sessions at Nassau ‘Nastics
in Oakes Field I had a feeling that she was going to
outperform herself and we agreed that I would get her

SEE page 14







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Myron Rolle
negins NFL stint

Starts orientation practices with the Tennessee Titans

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

With minicamps for rook-
ies underway around the
National Football League,
the league's newest recruits
shift from training, combine
and draft mode, back to
football.

Myron Rolle officially
began his stint into the NFL
and professional football
when he began orientation
practices with the Tennessee
Titans last weekend in
Nashville, Tennessee.

Each member of the
Titans’ rookie class, which
included 24 players in all,
and nine draft picks, went
on an early season introduc-
tion to the team’s training
facility in MetroCenter.

They also had an oppor-
tunity to meet with their
respective position coaches,
got fitted for helmets and
shoulder pads, underwent
physicals and went through
a host of other administra-
tive requirements to become
official members of the
Titans.

The two-day orientation
also included meetings on
team policies and proce-
dures, workouts, went
through the teams’most
basic aspects of its play-
books in the classroom and
practiced together for the
first time as professional
football players.

Rolle took the field with
the Titans’ nine draft picks
and 14 other undrafted
rookies as part of the team's
orientation.

The 2010 rookie class is
filled with big name players
such as defensive end Der-
rick Morgan, the 16th pick
overall, LaGarette Blount,
the controversial former
Oregon running back who
was suspended eight games
for punching an opposing
player and went and
undrafted, and Southern
California running back Sta-
fon Johnson, who also went
undrafted after his larynx
was crushed last year in a
weightlifting accident.

Rolle’s decision to leave
football for a year to pursue
his Rhodes Scholarship in
England was heavily scruti-
nized by analysts, scouts and
coaches across the country,
however, Rolle was granted
an opportunity to prove crit-
ics wrong when the Titans
made the selection with the
207th pick.

Rolle was one of the
Titans’ six defensive selec-
tions in the 2010 draft, and
one of nine in total.

Rolle will join a secondary
which includes former Pro
Bowlers Michael Griffin and
Courtland Finnegan and a
defense which ranked 28th
in the league last season.

Other members of the
draft class includes wide
receiver Damian Williams,
linebacker Rennie Curran,
cornerback Alterraun Vern-
er, safety Robert Johnson,
quarterback Rusty Smith,
wide receiver Marc Mariani,
and defensive tackle David
Howard.

SEE page 14









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PAGE 14, FRIDAY, MAY 7, 2010

SPORTS

BAAA | Bahamas Bodybuilding and Fitness
Federation to begin 2010 season

24th Annual BBFF Novice Championships scheduled for May 22

turns 58

On Wednesday, May
oth, the Bahamas Associa-
tion of Athletic Associa-
tions (BAAA) turned fifty-
eight years of age.

On May 6th, 1952 a
group of men met at the
office of Alfred Francis
Adderley. In addition to
Adderley, who was elected
president, the men includ-
ed were;

Cecil. V. Bethel, Gerald
Cash, Edwin Davies, Regi-
nald Farrington, Randol
Fawkes, Joseph Garfunkle,
Kendal Isaacs, Edward
Mitchell, Fred Moultrie,
Cyril Richardson, and
Reginald John Robertson.

One day later, May 7th,
1952, the Bahamas
Olympic Association was
formed.

Requirement

It pays to note that there
was a Bahamas Athletic
Association in 1952 but in
order to satisfy the IOC
requirement for National
Olympic Committees, it
was necessary to have
national amateur federa-
tions associated to their
international governing
bodies.

The BAAA was one of
those federations and
became associated with the
International Amateur
Athletic Association.

With several other feder-
ations thee BOA became
affiliated with the Interna-
tional Olympic Committee
(lOc).

Winning its first interna-
tional medal in 1987 at the
IAAF World Indoor
Championships with Frank
Rutherford’s Bronze
medal in the Triple Jump,
the Bahamas has won
medals in every IAAF
competition it has partici-
pated in.

The current president is
Mike Sands.

Myron Rolle
hegins NFL stint




h fF Ft
A NOVEMBER 1, 2009, FILE
PHOTO of the Tennessee Titans

in action against Jacksonville
Jaguars.

FROM page 13

Rolle was the 16th safety
selected and second for the
Titans after they took John-
son in the fifth round.

Rolle is the second player
of Bahamian descent to suit
up for the Titans after dis-
tant cousin Samari Rolle
spent the bulk of his career
with the franchise.

NURSE tL

FROM page 13

an iTouch if she did well,”
said Ms. Brady. “So I went
ahead and got the iTouch
based on how well she was
practicing. When the
scores came in and then
the All Around Award,
she came running and
reminded me that I
promised her the iTouch. I
reached in my pocket and
told her I knew she was
going to do well. The look
on her face was just classic.
Iam so proud of her
because she worked hard
and she truly deserved it.”

“T was so surprised when
she gave it to me,” recalled
Brady. “I was so happy and
excited and I thought I was
going to cry. But I have to
thank my mom because
she comes on the floor to
support me and my coach-
es too for encouraging me
to work hard. Like I was a
little scared of the competi-
tion on this trip and
thought I was going to lose
or something like that, but
Iam glad they all keep
pushing me to try my
best.”

Brady’s next tournament
is set for October.

The Bahamas Bodybuilding and Fitness Fed-
eration will begin its 2010 season with its 24th
Annual BBFF Novice Championships.

Scheduled for May 22 at the National Centre
for the Performing Arts it will feature about 15-
20 competitors in men's bodybuilding, women's
bodybuilding, and fitness.

The event serves as a showcase to the sport’s
newcomers and gives the federation a sound
impression of its future stars.

In men's bodybuilding, athletes will be placed
into several categories including lightweight, wel-
terweight, middleweight, light heavyweight and
heavyweight, whereas, women will have light-
weight and heavyweight divisions.

Aside from weight classes, height will also play
a factor in the body fitness category. The A cat-



egory will feature competitors up to 5'3"and B for
those taller than 5'3".

The Novice Championships also provides an
opportunity for the federation to showcase its
junior program — entrants under the age of 21.

Registration

Registration begins, May 8th at Mystical Fitness
Gym in Palmdale at 1pm.

Weigh-ins in all divisions will take place May
21st at Mystical Fitness Gym at 6pm.

The second event on the BBFF will be the
Grand Bahama Bodybuilding Association Body-
building and Fitness Championships, June 26th.

The 37th Annual BBFF National Champi-

THE TRIBUNE

onships takes place July 3rd in the capital.

The Federation hopes to build upon an influ-
ential 2009 Novice Championships where new
buddig stars in the sport were crowned.

Delroy Dennis was named men's overall cham-
pion and was the sole competitor in the mid-
dleweight division while Donna Williams won
the women's overall crown.

Dawnitta Fry won the overall fitness title along
with the Body Fitness 'D' division.

The High School body fitness title was claimed
by Deangela Johnson, Body Fitness ‘A’ -
Shenique Hanna, Body Fitness 'B' - Angelique
Williamson, Fitness Tall - Alexandra Deal.

Other divisional winners included Ashwood
Turnquest in the men's lightweight and heavy-
weight division by Philmore Poitier.

Ga TE TC LS UTS eC ee tT

Pauline
tH OU
Wael |
her gold
Hair)











The decision by the Inter-
national Olympic Committee
to strip Marion Jones of her
Olympic Gold Medal (due to
doping) meant that the
Bahamas’ own “Golden Girl”,
Pauline Davis-Thompson,
became the Olympic Gold
Medal Winner of the 200-metre
sprint in the 2000 Olympic
Games in Sydney, Australia.

In a joint effort, the
Bahamas Olympic Committee
and the Bahamas Ministry of a
Youth, Sports & Culture, sup-
ported by the Ministry of
Tourism & Aviation, are plan-

2
i

PAULINE DAVIS-THOMPSON pictured hugging Debbie Ferguson.



I.

ning a “Gold Medal Presenta-
tion Ceremony” at Govern-
ment House on June 10th 2010
for Pauline to finally receive
her medal from the Interna-
tional Olympic Committee in
the presence of the Hubert A.
Ingraham, Prime Minister, her
family & friends, senior gov-
ernment leaders, her fellow
IAAF Board Members,
numerous well wishers and
heads of sports federations -
under the auspices of Sir
Arthur A. Foulkes, Governor-



General of The Common-
wealth of The Bahamas. Stat-
ed Charles Maynard, Minister
of Youth, Sports & Culture,
“Pauline’s numerous achieve-
ments culminating in her Gold
Medal have touched each and
every Bahamian in a special
way.

Therefore, this event and the
events leading up to it are
intended to be a fitting tribute
by a grateful nation.”

The following events are
(tentatively) planned:

Monday, 31st May, 2010 —

Wednesday, 2nd June, 2010 —



Press Conference to announce
the event to the public, Hon.
Charles Maynard, Minister of
Youth, Sports & Culture
(MOYS&C), MOYS&C Con-
ference Room.

Tuesday, Ist June, 2010 —
Pauline visits Abaco (9:00 a.m.

— 11:30 a.m.) and Grand
Bahama Island (1:00 p.m. -
5:00 p.m.) — special assemblies
with school children

Pauline visits Long Island
(9:00 a.m. — 11:30 a.m.) and
Exuma (1:00 p.m. — 5:00 p.m.)
— special assemblies with
school children

Thursday, 3rd June, 2010 —
Pauline visits Andros (9:00

a.m. — 11:30 a.m.) and
Eleuthera (1:00 p.m. — 5:00
p.m.) — special assemblies
with school children

Thursday, 10th June, 2010 —

School Assembly/Rally,
Kendal G.L. Isaacs Gym
(11:00 a.m. — 1:00 p.m.), pre-
sentation to most outstanding
student-athletes

Thursday, 10th June, 2010 —
“Gold Medal Presentation”

at Government House (Live
T.V./Radio Coverage)
Reading of Proclamation
Gold Medal Presentation to
Pauline by IOC

Remarks & Response
Reception





Argentina defeat

Haiti 4-0 in friendly



BUENOS AIRES, Argentina

ARGENTINA’S
coach Diego
Maradona, right,
looks on prior to
a friendly soccer
game against
Haiti in Cutral
Co, southern
Argentina,
Wednesday,
May 5, 2010.



Argentina easily defeated Haiti 4-0 in an international friendly
Wednesday, one of the last warm-ups for the South Americans
before they head to the World Cup in South Africa, according to

Associated Press.

Argentina played without its Europe-based stars, with coach
Diego Maradona taking a look at local players who may make his

23-man squad.

Boca Juniors’ Martin Palermo, the club's all-time leading scor-
er, helped his chances with a goal. Facundo Bertoglio scored two
and Sebastian Blanco added the other.

Many of the Haitian players lost loved ones in the devastating
earthquake on Jan. 12. The highlight for many of the team
appeared to have been lining up at halftime to snap a photo with

Maradona.

Palermo is looking to force a place in the World Cup squad,
which includes top Europe-based strikers Lionel Messi (Barcelona),
Gonzalo Higuain (Real Madrid) and Diego Milito (Inter Milan).

Two-time champion Argentina opens its World Cup campaign
on June 12 against Nigeria in Group B, which also includes South
Korea and Greece. The top two teams in each group advance to the

final 16 knockout stage.

Lineups:

ARGENTINA — Diego Pozo, Ariel Garce, Paolo Goltz, Juan
Insaurralde, Cristian Villagra, Patricio Toranzo, Juan Mercier,
Sebastian Blanco, Facundo Bertoglio, Ariel Ortega, Martin Paler-

mo.

HAITI — Jean Zephirin, Pierre Richard, Paulin Jean, Vaniel
Sirin, Jerome Mechack, Jean Marc Alexander, James Marcelin,
Kenell Pierre Louis, Frantz Gilles, Angelot Dieujuste, Fritzon

Jean-Baptiste.



(AP Photo/Fotobaires)

ARGENTINA’S MARTIN PALERMO, right, celebrates with teammate Ariel Garce after scoring during
a friendly soccer game against Haiti in Cutral Co, southern Argentina, Wednesday, May 5, 2010.



PAGE 16, FRIDAY, MAY 7, 2010

LOCAL NEWS

THE TRIBUNE



FROM page one

him.

Bastian had been charged with three counts
of armed robbery, one count of rape, one
count of kidnapping and two counts of receiv-
ing. The jury found him not guilty on the first
two counts of armed robbery by a unanimous
decision and not guilty on the third count by
a vote of six to three. The jury was unani-
mous in its not guilty verdict on the rape
charge and found Bastian not guilty by a
count of six to three on the kidnapping charge
and the first count of receiving. The jury was
also unanimous in its decision on the second
receiving charge.

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One of two escapees

Bastian and Ricardo Knowles, 22, were
accused of accosting a couple at gunpoint in
September 2008. Prosecutors had also alleged
that the men had forced the woman's
boyfriend, who was robbed, into the trunk
of his car, placed the woman in the back seat
of the vehicle and later raped her.

The pair reportedly made their escape from
Central Police Station during a bathroom
break around 3am Tuesday.

Knowles was shot by police as he attempt-
ed to evade them in the Kemp Road area. He
was pronounced dead at the Princess Mar-

garet Hospital at 11.44am Tuesday. Bastian
was apprehended a short time later at Potter's
Cay dock.

Senior Justice Jon Isaacs, who presided
over the trial, told Bastian after the verdicts
were handed down that he should consider
himself “fortunate.”

Bastian, who was represented by attorney
Willie Moss, was escorted back to the Central
Police Station after the decisions were hand-
ed down.

The Tribune understands he will remain
in custody as he has other matters pending
before the courts.

Police have not yet charged him in con-
nection with Tuesday’s alleged escape.

WINDOWS

MP calls for laws

FROM page one

official 2007 Hansard quoted Mr Ingra-
ham as confirming the Free National
Movement received contributions from
the Grand Bahama Port Authority, to
the tune of the same amount received by
the Progressive Liberal Party. It also
quoted Mr Ingraham as saying the FNM
received money from Sir Jack, although
he was unaware if the PLP received the
same.

Mr Sears brought up the 1984 Royal
Commission of Inquiry which investigat-
ed allegations against then Prime Minis-
ter, Sir Lynden Pindling.

Archbishop Drexel Gomez, who was
one of the Commissioners, issued a
minority report that spoke about the $3.5 million in the personal
bank account of Sir Lynden that was accounted for in such a way
that it did not remove all doubt that it might have been tied to
unsavoury transactions.

Some of the funds were said to come from contributions by
foreign business executives, loans, and mortgages.

Archbishop Gomez concluded that “none of the known sources
of funds... appear to have been drug-related.”

However, he also said: “The circumstances raise great suspicions,
and it is impossible to say that the payments were all non drug-relat-
ed.”

Mr Sears said he did not want the political process in the
Bahamas to be “suspect internationally” based on the practice of
politicians receiving secret contributions from foreign entities.

He also referred to the 1967 Bahamas Commission of Inquiry
that was formed to investigate payoffs by Freeport casino interests
to Bahamian government officials.

In that commission, Sir Stafford Sands was implicated. The
inquiry found Sir Stafford received more than $1.8 million in con-
sultancy fees from the Grand Bahama Port Authority between 1962
and 1966 at the time he was Minister of Finance and Minister of
Tourism with the former United Bahamian Party (UBP).

Mr Sears said the inquiry found Sir Stafford made certain
exemptions to casino operators that favoured business interests. In
1963, a foreign casino operator was granted exemption, allowing it
to operate in Grand Bahama based on certain minimum conditions.
The license fee charged by the Ministry of Finance was said to be
significantly lower than neighbouring countries.

Alfred Sears ‘received no money’



ALFRED SEARS

FROM page one referred to comments made by

Prime Minister Hubert Ingra-
ham on the House floor on a
previous occasion that implied
that Knowles may have funded
certain politicians.

According to Mr Sears, the
official 2007 Hansard quoted
Mr Ingraham as confirming the
Free National Movement

in the House of Assembly yes-
terday that he was prepared to
disclose financial contributions
to his political affairs.

He also called for legal
reform, requiring politicians
and political parties to disclose
financial contributions from for-

received contributions from the
Grand Bahama Port Authority,
to the tune of the same amount
received by the Progressive
Liberal Party. It also quoted
Mr Ingraham declaring he
received no money from
Knowles.

eign entities.

“T am prepared to disclose,
but let us do it in a way
Bahamians can be proud,” said
Mr Sears.

Mr Sears said some people
were engaged in “salacious
rumour mongering.” He

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THE TRIBUNE



FRIDAY,

SECTION B « business@tribunemedia.net

Telecoms ‘ripe’

for more taxes



By NEIL HARTNELL
Tribune Business Editor

Telecommunications is an
industry “ripe” for increased
taxation, a former Chamber of
Commerce president yesterday
urging the Government to
“come up with innovative
ways” to raise revenue by
increasing fees on industries
that paid “negligible taxes”,
such as banks/trust companies
and the numbers business.

Suggesting that the Govern-
ment impose a 1-2 per cent tax
on making/receiving telephone
calls, which is effectively a
Bahamian national pasttime,
Dionisio D’ Aguilar said that if
the Ingraham administration
sought to raise revenues in its
2010-2011 Budget, it needed to
look at fee increases that had
the “least effect on the average
person in the street”.

Urging the Government to
“come up with innovative ways
to raise additional revenues”,
Mr D’Aguilar, who is also
Superwash’s president, told Tri-
bune Business: “There are sec-
tors of our economy that pay
negligible taxes. Telecoms,
that’s a ripe one. Everyone pays

* Ex-Chamber chief urges
government to focus on
‘undertaxed’ industries
and be ‘innovative’,
imposing taxes on phone
calls and focusing
on the likes of banks

* Says 2010-2011 Budget
must focus on taxes that
are easily to collect and
have least impact on
‘average man in the street’

* Urges government to
‘tackle generous and
lucrative’ public sector
pensions and benefits

a tax on their incoming calls.
That’s a totally undertaxed sec-
tor.”

Mr D’ Aguilar said such tele-
coms taxes were already levied
in many other countries, and
said a 1-2 per cent tax on tele-
phone calls was “negligible to

SEE page 4B

‘What a tangled web!’

By NEIL HARTNELL
Tribune Business Editor

KERZNER International
told the Water & Sewerage
Corporation that it was “bet-
ter to blush once now rather
than twice later” over whether
it would be able to deliver the
water supply pledged as part of
the $1 billion Phase III Heads
of Agreement, a review of the
latter’s efforts branding its
negotiations with the Atlantis
and One & Only Ocean Club
owner as “poor and ineffec-
tive”.

A huge bundle of documents
detailing the bungled Arawak
Cay reverse osmosis plant saga,
which played out under the for-
mer Christie administration in
2005-2006, reveals the Paradise
Island resort developer’s
increasing concerns that the
Water & Sewerage Corpora-
tion would be unable to deliver
on its contractual obligations
as a result of in-fighting
between the Board and man-
agement.

A January 13, 2006, e-mail
from Kerzner executive
Richard Watkins to then-min-
ister of works, Bradley Roberts,
laid out the developers con-
cerns thus: “This, as we at
Kerzner have always stated, is a

* Kerzner told Water Corp
‘better to blush once now
rather than twice later’
over Arawak Cay reverse
osmosis plant
ultimately shelved

* Corporation committed
to supplying Kerzner
with water inside 13
months, although plant
would take longer to build

* Perpall Tract location,
which government now
considering, would have
cost $10m more to build
over life of contract

one-time, ‘no fail’ opportunity
for Water & Sewerage Corpo-
ration to supply potable water
to Paradise Island, and supplies
have to be guaranteed to be
delivered in the quantities out-
lined in the agreement to sup-
ply the Atlantis Phase III oper-
ation.

“Tf there is now any risk to
this agreement failing, then it

SEE page 6B

Food needs hit 25 per
cent of population

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

FOOD deprivation in New
Providence has reached a 25
per cent level, a well-known
doctor and businessman said
yesterday, arguing that this
nation has to change its tax
regime, dollar costs and utility
costs to bring down the cost of
living.

Dr Jonathan Rodgers, speak-
ing at the Rotary Club of West
Nassau’s weekly meeting, said
four fundamental changes to
the Bahamian economy could
greatly reduce the high costs of
everyday items crucial to a
comfortable life.

He argued that the Govern-
ment has to consider doing
away with import duties and
adopting a sales and services
tax, decrease the cost of money,
lower the cost of utilities, and
eliminate exchange controls.

He said that without these
changes the cost of living will
continue to inflate, imposing
increasing strain on the aver-
age Bahamian family.

“We need to try to stabilise
the economy before we can
rebuild it or restructure it,” said
Dr Rodgers. “We need to bring
down the cost of living.”

He added that his daughter,
Alanna Rodgers, who estab-
lished the philanthropic food
assistance programme, Hands
for Hunger, found that the lev-
el of food deprivation across

New Providence was around 25
per cent. He believes that num-
ber could be higher.

Dr Rodgers said Hands for
Hunger serves up more than
10,000 meals per weak, which
has still proven to be insuffi-
cient.

“There is a big need,” he
said. “And the same way there
is hunger, there is financial
hunger. People can’t afford to
live.”

Dr Rodgers said the econo-
my had been failing before the
economic crisis, and has to be
reformed by the Government
changing certain economic
functions.

He argued that the introduc-
tion of a sales tax, in lieu of
importat taxes, could decrease
the cost of living by 100 per
cent at the outset.

According to him, items that
the Bahamas imports are often
marked up 100 to 200 per cent,
while the consumer price index
spread creates the appearance
of only a 2 to 3 per cent price
hike.

“We have to compare it
(item costs) to the cost from its
source, which is the US,” he
said.

Dr Rodgers also asserted
that government has to bring
down the cost of borrowing
money through creating more
competition in the banking sec-
tor, and moving the Central
Bank of the Bahamas to apply

SEE page 4B

MAY 7,



2010





FAMILY GUARDIAN

INSURANCE COMPANY LIMITED





‘Dash’ for new fleet’s
Savings at B’air
eer

O%

By NEIL HARTNELL
Tribune Business Edito

ahamasair will slash

operating costs by

almost 50 per cent

per hour if it
switches from its existing Dash-
800 fleet to the planned Saab-
340s, saving some $10 million
per year, its chairman telling
Tribune Business yesterday that
the economics were “blinding-
ly favourable for making the
change”.

J Barrie Farrington, in an
exclusive interview, said the
national flag carrier’s fleet
restructuring would take 18-24
months to implement once the
Government approved the
company’s plans, which are tar-
geting “positive margins” and
the elimination of the $25 mil-
lion-plus subsidy it receives
annually in nine to 10 years’
time.

Emphasising that Bahama-
sair’s Board and management
did not want to be adversarial
towards the Bahamas Airline
Pilots Association (BALPA),
which had criticised the pro-
posed restructuring, Mr Far-
rington outlined the economic
case for replacing the airline’s
existing five Dash-8s with eight
leased Saab-340s.





RAUL LA

“The Dash-8s operating cost
per hour is $2,200. The opera-
tional costs for the Saab is
about 50 per cent less at $1,200
per hour, give or take. It’s
under $1,200,” Mr Farrington
told Tribune Business.

This newspaper’s calcula-
tions, based on those figures,
show a cost savings of almost
46 per cent, which is still signif-
icant.

Mr Farrington added that
based on 10,000 hours of block
flying time in Bahamasair’s
2008-2009 financial year, the
total operating costs for the
company’s Dash-8 fleet were
$21.4 million.

“If we had the same number
of operating hours for the
equivalent number of Saabs, it
would be $11.5 million,” Mr

A BAHAMASAIR Dash-8 waits for departure...

Farrington added. “Apples to
apples, our savings would be
$10 million. That’s scientifical-
ly calculated by our operations
people in management at
Bahamasair.

“The numbers are
irrefutable. The economics of
it would suggest that it makes
sense to switch to an aircraft
that has much lower operating
costs, gives you much more
flexibility in frequent flights and
the like.”

Emil Saunders, BALPA’s
president, had criticised the
fleet restructuring for being
incompatible with Bahamasair’s
stated aim of increasing tourist
market share to around 30 per
cent. However, Mr Farrington
effectively indicated that the
pilots appeared to be trying to

BISX Index ‘on track’ for 8% annual growth

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas International
Securities Exchange’s (BISX)
All-Share is “on track” to expe-
rience an 8 per cent apprecia-
tion during 2010, a leading
financial analyst said yesterday,
telling Tribune Business that
the arrival of new investment
opportunities - Heineken/Burns
House and the Arawak Cay
port - could “drive renewed
investor interest”.

Unveiling its performance for
the 2010 first quarter, the
Bahamian stock exchange said
its All-Share Index had experi-
enced a 2 per cent year-to-date
increase to 1,569.62, as nor-

* Analysts says ‘substantial’ recovery to
occur in 2011, but ‘neutral to slight bump
up’ will be an accomplishment in 2010

* First quarter trading volumes and values up by 16.3%
and 61.6% respectively, even without Cable trade

* Heineken and Arawak Port deal to drive ‘renewed
interest and demand’ for Bahamian equities

malised trading volumes and
the value of shares traded rose
year-over-year by 16.3 per cent
and 61.6 per cent respectively.

Kenwood Kerr, Providence
Advisors’ chief executive, told
Tribune Business that it would
be an “accomplishment” for the
BISX All-Share Index to end

the year in a neutral or slightly
improved position, given the
uncertainties over the Bahami-
an and global economy’s recov-
eries, highlighted by events in
Greece and fears of sovereign
debt defaults.

SEE page 7B

* Chair says switch from
Dash-8s to Saab-340s to
lower operating costs by
$10m, from $21.4m to
$11.5m, with per hour
costs 46% lower

* Board's plan, submitted
to government, envisages
‘positive margins’ and end
to $25m-plus subsidies
by nine to 10 years’ time

* Fleet restructure likely
to take 18-24 months

* ‘Economics blindingly in
favour of feet restructure’

‘run before they can walk’, as
the fleet restructuring was
required to “stabilise” the
national flag carrier in the first
instance.

That was the first phase of
the plan submitted to the Gov-
ernment by the airline’s Board
and Cabinet, with the second
phase involving the exploration
of new international routes and
the tourism market.

Adding that the Board want-

SEE page 4B

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, E











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PAGE 2B, FRIDAY, MAY 7, 2010

THE TRIBUNE



Questions that protect your firm from crime

HAVE you ever wondered
why some stores are selected
and others not when it comes to
robbery and stealing? Maybe
it is random selection, but I
think not.

You and your business have
been targeted, and for the most
part your actions or inaction
create, on a daily basis, the
opportunity for criminals to
steal and commit robberies. It
may be a harsh pill to swallow,
but the blame for your business
being targeted and robbed is
partially yours. On numerous
occasions we hear the police
giving tips on how to set up
your store or business, where
to place the cash register, lim-
iting the amount of cash that is
on site, or reducing the amount
of advertisements covering the
windows.

Unfortunately, this advice
goes in one ear and out the oth-
er for the sake of increasing the
potential for sales and making
the shopping experience more
convenient. Really, the ques-
tion is: are these recommenda-
tions sound and will they actu-
ally work. Well, as I have said
numerous times in this column,
security must be seen as a mul-
ti-layered initiative, as no one
method or strategy can work in

isolation. There is no sense in
fortifying your front door with
the best locks, yet your back
door is mage of composite
wood.

When giving lectures on
crime prevention I regularly ask
my audience questions that
attempt to heighten and
increase their awareness. It also
helps them, in answering those
questions, to realise how much
in control they really are. By
allowing the participants to
become crime analysts of sorts,
I am better able to assist them
in developing strategies for pro-
tection that are more real and
personnel to them. I remind
them in these discussions to not
use the media as the only mea-
suring stick, especially when it
comes to crime that affects
them directly. In many
instances, the only reliable mea-
suring stick is what is happening
in their own neighbourhoods
and industry. You, too, can par-
ticipate in this exercise and
answer these questions.

Note these questions make
no reference to the police
response time; how long will
the matter take before it is dis-
posed of before the courts; and
how long will the suspect be
incarcerated. Those questions





Safe &
Secure

lV ACrIEl ON aay







speak to another area of crime
prevention that requires a col-
lective approach to have these
responses and wait times
reduced.

* How would you rate the
current crime trends in the
Bahamas?

High Medium Low

The crime rate in the
Bahamas is not exclusive to
New Providence, and thus all
the Family Islands must be fac-
tored in. Too often we become
Nassau centric, and believe the
country lives and dies by New
Providence. This questions begs
the reader to step out of their
reality, as their community may
be facing high instances of
crime, but in Salina Point, Ack-
lins, crime is only heard of dur-
ing the evening news

* What is the crime rate
where your business is locat-
ed?*

High Medium Low

This question brings the real-



i hs
UJ ts

FAMGUARD AND BAHAMAS FIRST AGREE
TO DISCONTINUE DISCUSSIONS TO
CONSOLIDATE COMPANIES





Norbert Boissiere, Chairman of FamGuard Corporation Limited
(FamGuard) and Ian Fair, Chairman of Bahamas First Holdings Limited
(Bahamas First) are today announcing that FamGuard and Bahamas
First have jointly agreed not to pursue further discussions with respect to
consolidating their two holding companies.

Following initial discussions and preliminary due diligence exercises
both parties agree that while consolidation of the holding companies is
not feasible at this time they will seek alternative ways to pursue joint
commercial activities both now and in the future where such activities
are likely to bring mutual benefit.

Bahamas First and FamGuard share a similar history with both entities
having been established as holding companies for their home grown
insurance subsidiaries, Bahamas First General Insurance Company and
Family Guardian Insurance Company which were established in 1982
and 1965 respectively.

FamGuard became a publicly traded company in 1998 and began
the process of restructuring its insurance operations in 2001 with the
merger with Star Insurance Company (Bahamas) and the acquisition
of the remaining 50% portfolio of BahamaHealth Insurance Brokers &
Benefit Consultants Limited in 2002. In 2006 FamGuard entered into
a strategic alliance with Sagicor Financial Corporation with that entity
acquiring 20% of its shares. In 2008 FamGuard launched its pensions
and wealth management subsidiaries, FG Financial Limited and FG

Capital Markets Limited.

Since its creation 28 years ago, Bahamas First has taken a lead position
in the general insurance market and was the first local general insurance
company to exceed $100 million in premium income in 2007. Also
in 2007, the company entered into a strategic arrangement with the
Economical Insurance Group (EIG) of Canada with that entity acquiring
20% of its shares.

The insurance subsidiaries of both companies are currently rated
A-Excellent by international rating agency A.M. Best.



ity of crime closer to home by
asking you to count the number
of businesses in your shopping
center/mall/plaza that are being
robbed etc.

* What types of business are
experiencing high crime rates?*

Retail

Wholesale

Food Service

Corporate Entities

Banks

Web Shops

Hospitals

Some businesses have a very
low possibility of violent crime
because of what they are, while
others are very prone to vio-
lent events.

*Has your business been a
victim of crime?*

Yes/No

If crime has not touched your
business for whatever reason,
there may be several factors
why. They can range from loca-
tion, operating hours, honest
staff, etc.

*Where are violent crimes
occurring?*

Home

Work

Play

This has a lot to do with loca-
tion, but also business type.
Often it has to do with percep-
tion.

*When are violent crimes
occurring?

Morning

Day

Night

Weekdays

Weekends

Knowing when, or having a
good idea of when, you or your
business are vulnerable is very
important. This information can
help with the allocation of the
necessary security measures at
the appropriate time. Too many
crimes happen when insuffi-
cient tactics are in place to deal
with the threat.

*Who are committing these
offenses?*

Men

Women

Adults

Teens

If you know who the most
likely suspects are, you can bet-
ter defend against them. This
may sound like profiling, and
maybe it is, but the real ques-
tion is: It is necessary? The dif-
ficulty lies with balancing your
ethics with your survival.

There are possibly thousands
of motivating factors for why
someone commits a crime, but
this should be left to the crim-
inologist and the court. Don’t
worry too much about motive
at this point.

These are simple questions
you should take a moment to
think about, as the answers will
play an important part in what
you do. Essentially, it is the first
and, in my opinion, the most
important part of any crime
prevention strategy. It is my
opinion that reducing crime is
not rocket science, but rather
a simple look at causation fac-
tors and reducing the likelihood
they will happen.

Easier said than done, you
may say, but if you have taken
the time to answer the above
questions you have taken the
first step in this process. Does
this process alone make you an
expert? No, you were expert
long before this. I am only try-
ing to help you organise your
experience. This approach, I
hope, will assist you in selecting
the appropriate counter-mea-
sures to reduce your exposure
to crime.

NB: Gamal Newry is the
president of Preventative Mea-
sures, a loss prevention and
asset protection training and
consulting company, specialis-
ing in policy and procedure
development, business securi-
ty reviews and audits, and
emergency and crisis manage-
ment. Comments can be sent
to PO Box N-3154 Nassau,
Bahamas, or e-mail
gnewry@gmail.com or visit us
at www.preventativemea-
sures.net





CHRISTEL SANDS-FEASTE

Higgs & Johnson
partner wins
award for
M&A work

A HIGGS & Johnson
partner, Christel Sands-
Feaste, has been awarded
the title of Recommended
Attorney in Mergers &
Acquisitions for the
Bahamas by Global Law
Experts (GLE).

GLE is the premier guide
and referral service to lead-
ing legal professionals
throughout the world, and
is a valuable tool for busi-
ness leaders, in-house coun-
sel, high net-worth individu-
als, operations directors,
investors, accountants, banks
and persons looking for
quality legal advice in all rel-
evant fields. They now rec-
ommend nearly 2,000
lawyers from 140 countries
in 30 practice areas.

Mrs Sands-Feaste is a
member of Higgs & John-
son’s commercial law, secu-
rities and private client and
wealth management practice
groups, with extensive legal
experience in corporate and
commercial law, and inter-
national trust and company
administration. She has act-
ed in all aspects of commer-
cial transactions, including
mergers and acquisitions,
asset financing, private
placements of offshore secu-
rities, investment fund struc-
turing and creation and
estate planning.

Oil settles near $77 a barrel

NEW YORK (AP) — Oil prices on Thursday
dropped to levels not seen since February, as the

stock market plummeted.

Benchmark crude lost $2.86 to settle at $77.11
a barrel on the New York Mercantile Exchange.

Oil hit $73.71 on February 16.

Crude was lower at midday and the price
slide picked up speed as the stock market
tanked. Investors flew to safer havens in gold
and bonds. The Dow Jones Industrial Average

plunged almost a thousand points, about nine
per cent, before recovering some ground. The

Dow was down about 400 points an hour before

the close.

Europe’s debt problems got much of the

blame. The ongoing crisis also has undermined

lar rises.

the euro and strengthened the dollar. Com-
modities priced in dollars, like oil, become more
expensive for investors holding euros as the dol-





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VARIOUS LOCATIONS, MAY 22-30, 2010

Night at Jacaranda Gala Event

JACARANDA HOUSE, PARLIAMENT 5T., FRIDAY, MAY 28, 2010

Festival Day

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For ticket information, call tel: 326-0997.

Or visit our website at: www.downtownnassau.org/seafoodfestival





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





THE TRIBUNE

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

A BAHAMIAN online
shopping website wants to help
Bahamians distribute their
locally-made products across
global markets by leveraging
the e-commerce bug that has
bitten the developed world.

ShopBVM.com executive,
Ricardo Berris, told Tribunes
Business yesterday that there
are not “enough authentically
Bahamian made products
online”.

According to Mr Berris, the
Internet has condensed global
markets, and brought access to
material goods and services lit-
erally to the fingertips of any-
one with a computer accessing
the Internet.

He said Bahamian products
could become a virtual com-
modity if more individuals con-
sidered starting an online store,
where their wares are no longer
visible to a limited few but
accessed at a global level.

“Tt’s 2010 and the world gets
even smaller with globalisation
made possible by the Internet,”
Mr Berris said.

“There are millions of visi-
tors who grace our shores year-
ly for the sun, sand, sea and
something Bahamian, but

Internet site’s
platform plan
for authentic

Bahamas goods

access to Bahamian products is
still poor.

“There could be such a phe-
nomenal effect for the Bahamas
when a tourist cannot only go
back to their homeland and
show-off an item from
Bahamas, but point others who
want it to an online store that
sells that same item.”

Mr Berris said shopbym.com
could allow Bahamian products
to be hosted online in one loca-
tion for the rest of the world to
access, purchase and have
shipped to almost any address
worldwide.

“Our vision is to maintain a
one-stop web portal that will
be a household name for find-
ing authentic products,” he
added.

“Even agricultural products
can be sold in online stores to
further extend the access and
visibility of locally-grown pro-
duce to be sold to the rest of
the world.

“Tf the Chinese can come
here and see potential in grow-
ing crops for export and the
local market, then why can’t
the existing farmer or producer
use the Internet as the main
medium to expose what they
have to the same markets the
Chinese have plans for?”

Mr Berris said that although
the Bahamas is not as populous

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as other nations, Bahamians
reside throught the globe, so a
market exists to make it easy
for them to access products pro-
duced locally.

“The world keeps looking for
authentically Bahamian prod-
ucts because they are hungry
for something Bahamian,”
said Mr Berris. “The Bahami-
an diaspora thirst for home-
made products they can
indulge in and keep their spir-
its alive.”

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.

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EMPLOYMENT OPPORTUNITY
SECURITIES COMMISSION OF THE BAHAMAS

The Securities Commission of The Bahamas, a statutory agency responsible for
the oversight, supervision and regulation of the Investment Funds, Securities
and Capital Markets in or from The Bahamas, as well as the supervision of
Financial and Corporate Service Providers, invites applications from qualified
Bahamians for the following position:

Deputy Manager Corporate Affairs
Responsibilities:

Providing strong support to the Manager, Corporate Affairs and the
Executive Director in the execution of Human

Resource planning and HR benefit administration for the Commission
Assisting with managing training, human resource development,
compensation, benefits programs, ensuring compliance to policies and
procedures for the Commission.

Building and sustaining effective relationships with employees thereby
enhancing and strengthening the Commission's performance
Assisting with managing the general office administration of the
Commission

Competencies:

Sound knowledge of Compensation and benefits programs

Sound knowledge and understanding of HR management practices
Knowledge of labour legislation in the region

Developed negotiation skills

Well developed interpersonal and leadership skills

Good training delivery and facilitation skills

Must respect confidentiality

Excellent analytical skills

Proficient computer skills (Microsoft Office applications, and HRIS)

Qualifications and Experience:

A Bachelor's degree with professional Human Resources certification
3-5 years experience in all aspects of Human Resource Management

A competitive salary and benefits are being offered. To apply, please write
attaching a resume to:

MANAGER HUMAN RESOURCES
SECURITIES COMMISSION OF THE BAHAMAS
P. O. BOX N-8347
NASSAU, BAHAMAS
Fax: 356-7530

E-Mail: info@scb.gov.bs

Applications should be submitted no later than May 14, 2010

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PAGE 4B, FRIDAY, MAY 7, 2010

THE TRIBUNE



=) >
Making city centre revival a ‘Festival’ Telecoms ‘ripe’

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net



DOWNTOWN Nassau’s revitalisation
is being taken one festival at a time, tailor-
ing them to lure Bahamians and visitors
back to the area as government gradually
seeks to improve its appearance and allure.
The latest is the Great Bahamian Seafood
and Wine Festival.

Managing director of the Downtown
Nassau Partnership (DNP), Vaughn
Roberts, told Tribune Business that the
festivals are designed to build the DNP’s
coffers to fund more activities aimed at
attracting locals to the city cente.

It has been the public/private partner-
ship’s mandate to create a Business
Improvement District (BID) to govern the
redevelopment of the Downtown area. And
while some upgrades have begun, the leg-

islation to create the BID has not been put
before Parliament and was not mentioned
in the latest Speech to the Throne.

However, Mr Roberts is betting on gar-
nering more public support for the city’s
revitalisation by creating events that would
be appealing to all sections of the Bahami-
an community.

“We are really trying to capture a wide
segment of the population,” he said. “Even
people who don’t go to festivals and kids as
well.

“The idea behind the festival is it is an
important part of brining the city back, led
by our office, to bring innovation and cre-
ativity to it. We chose seafood and wine
because there is an opportunity for it to
become an international hit.”

Mr Roberts said he hopes the festival
could become an iconic hit, similar to the
South Beach Wine and Food Festival,
which draws thousands of visitors to Miami

from across the globe and features world-
class celebrity chefs.

Many agencies have come together to
shape the Seafood Festival, including the
Ministry of Tourism, the Culinary Associ-
ation and the Bahamas Commercial Fishing
Association. The festival is also hoping to
highlight some of the listed properties in the
city that hold, for Nassau, historical and
aesthetic value.

Mr Roberts said Jacaranda house will
be used to host a gala event for the festival
that will remind its patrons that those prop-
erties still exist and can be leveraged.

The Seafood Festival is scheduled to
begin on May 22 and continue until the
end of the month. It will be held on vacant
property owned by the British Colonial
Hilton called Junkanoo Beach East.

The DNP is also plans to undertake a
mural painting campaign and walking tour
that could start as early as next week.



DASH, from 1B

ed to foster a “total team
effort”, involving the pilots, to
turn the national flag carrier
around, Mr Farrington said:
“It’s indisputable that there was
no way we could remain as we
were, with a fleet that was age-
ing, that was contracting, and

unsuitable for the network of
services and routes that we’re
engaged in flying.

“The bottom line was that
we could not stand still and do
nothing. It will be patently obvi-
ous to all those who understand
how businesses function. The
next step was to look at an
operational model suitable for
today’s environment and econ-

CLIFTON HERITAGE AUTHORITY
Clifton Heritage National Fark
South Wiost Bora
Nassau Bahamas
Tel: 1024209624368 oF M242 7F62-5121 of Fax:
362-317
Email: park clifton yahoo oom.

EMPLOYAIENT OFPORTUSITY

omy.”

The re-designed operating
model for Bahamasair, the
chairman added, was designed
to “stop the hemorrhaging, and
create a mix of aircraft and
operating models that get us to
a degree of success”.

Mr Farrington said it would
take 18-24 months from the
date of government approval
for Bahamasair to restructure
its fleet, transitioning from the
existing two Boeing 737-200s
and five Dash-8s to four Q-400
Bombardiers and the eight
Saab 340s.

The “useful lives” of
Bahamasait’s two existing jets,
Mr Farrington said, would
“come to an end by the 2010
third quarter”. He added that,
as a result, their maintenance
and re-certification costs were
becoming “exorbitant”.

It was now costing $1.2 mil-

lion to get the two Boeing 737-
20s through their annual safety
checks, he added, when the net
value of both aircraft was
around “a couple of hundred
thousand”. Maintenance and
safety check costs had been half
that in 2006, standing at
$600,000, and Mr Farrington
said: “It’s an exercise in dimin-
ishing returns.

“What we’re doing with the
re-fleeting plan is in essence
keeping open routes we cur-
rently serve. The Q-400s are
very fast, fuel efficient and have
much lower maintenance
costs.”

Tribune Business had previ-
ously reported that each Bom-
bardier would cost $8.64 mil-
lion per year less to operate,
and Mr Farrington added: “The
economics are blindingly
favourable to making the
change to the Q-400.”

Clillon Herilage National Park, which is one of the
country’s most beaotiful and historic locations, i sacking
an ideal camfidat: for the position of ASSISTANT
ACCOUNTANT.

PRIMARY DUTIES'RESPONSIBILITIES

* Eneore the integrity and accuracy of all finaweial
anni aft madatained ihrongh the mainicaance of
the general ledger journal vouchers, accounts payable
documentation asd other financial records

* Compile slalisical, accounting reports and lables
perlaming be cash receipla, capendilures, accounts
payable and receivables

. Prepare meathly financial slatements for managers
and monthly forecasting

® Assist with the preparation of ihe Annual Aidpet

® Review and prooces all financial transactions

* Prepare requisitions for office and other routine aupply
purchases for the park

* Lease with external audio to produce the annwal
Amiited Maaicial Statements

REQUIREMENTS

* Advanced proficiency in QeickHooks
Thorough knewledpe of accounting practices ane
procedures, accounting regulations and legislation im
The: Bahamas
Poses strong quantitative and problem solving skills
Ability to keep syatematic and detailed records.
Must be proficient in the Microsoft Office suites,
especially Excel and Word
Be diaciplined to heep company information strictly
confidential

QUALIFICATIONS

© Completion of an Assieciaie’s degree in Accounting with
a minimam of five pears experience or a Diphema in
Accounting or a related depree with a minimum of three:
Years Copernic.

Application forms are available at the Clifton Heritage
Authority's Office, Soath Weet Road, amd most be sobmit-
ted by 14th May, 2010.



eS

en
ee

KINGSWAY ACADEMY

Teacher Vacancies for September 2010

Kingsway Academy invites applicants from qualified and
experienced candidates for teaching positions at the:

High School level

* Technical Drawing and Woodwork (Grades 7 to 9)

* Music (Grades 8 to 12)

* Information Technology (Grades 7 to 12 and
Advanced Placement level)

* Physics (Grades 10 to 12 and Advanced Placement
level)

The successful candidates should have the following:
* An academic degree in the area of specialization

* A teaching certificate

* Excellent communication skills

* A love for children and learning

* High standards of morality

* Be a born-again Christian

Acomplete application package consists of:
(a) completed and signed Kingsway Academy application form
- available at the school’s Administration building or on the website

www.kingswayacademy.com (See Document Downloads)

(b) detailed resume with cover letter

(c) recent photograph

(d) three (3) reference letters, one (1) being from your church’s
minister

(e) legible e-mail address and working telephone contacts

Note: All documents should be submitted
at the same time.

Please forward to:

Kingsway Academy Employment Application

Kingsway Academy

Box N-4378

Bernard Road

Nassau, The Bahamas
e-mail:jbethell@kingswayacademy.com

Deadline: To ensure consideration, complete
application materials must be received by
Friday, May 14", 2010



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

Chief Operating Officer

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
Information 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

www.syzbank.com

SYZs& CO
BANK & TRUST

for more taxes

FROM page 1B

the consumer”, especially since
many Bahamians treated their
cellular phones as a luxury.

Adding that he disagreed
with fellow businessman
Franklyn Wilson, who yester-
day told Tribune Business that
legalising gaming would result
in net outflows from the Public
Treasury, as a result of “gam-
bling breeding poverty” and
other adverse social conse-
quences, Mr D’ Aguilar said
taxing the numbers business
would raise millions of dollars
per year in government rev-
enue.

“Banks tend to be under-
taxed compared to other busi-
nesses,” he added. “It’s a heav-
ily under-taxed industry” com-
pared to the income that
Bahamian banks and trust com-
panies generated per annum.

Mr D’ Aguilar also pointed
out that the Government was
“not taxing services one bit”,
even though this was the sec-
tor accounting for the largest
amount of economic activity in
the Bahamas. He suggested,
though, that the Ingraham
administration was unlikely to
do anything about this in the
2010-2011 Budget, and was like-
ly to save it for a more com-
prehensive introduction of Val-
ue Added Tax (VAT).

“All you’re looking at are
fees, raising revenues from
avenues that have the least
effect on the average person in
the street,” Mr D’ Aguilar said
of the Government’s efforts to
plug the fiscal deficit and
reduce the national debt.

“Look at the whole fee struc-
ture. There’s a whole host of
fees that are charged, but have
not been amended, for four mil-
lion years.

“They have to look at taxes
that are easy to collect. Gaso-

line taxes are easy to collect
because they are paid at the
border when the fuel comes in.
But property taxes are a night-
mare to collect. Increasing
property taxes could increase
revenue, but not the Govern-
ment’s cash flow. And that’s
what we need to increase.

“The Government will not
be able to get increased taxes
from its traditional sources.
Import duties are already high
enough.”

While all Bahamian govern-
ments were reluctant to cut
spending and reduce the size
of government, the former
Chamber president suggested
that the Ingraham administra-
tion now had to seize the
moment offered by a public
mood that was more prepared
for austerity measures, and set
the public finances back on
track.

Arguing that the Govern-
ment would find it impossible
to accommodate the wishes of
the likes of the Nassau Insti-
tute, which would like to see
departments closed down and
employees released, Mr
D’Aguilar suggested that the
administration “tackle” the
generous pensions and benefits
civil servants/public sector
employees enjoyed.

Emphasising that this did not
involve changes to basic
salaries, the former Chamber
president said: “They’ve got to
get their house back in order.
We don’t want to go the way
of the Greeks.

“The Government needs to
look at the generous benefits it
gives its employees. Salaries are
one thing, but those generous
and lucrative defined benefit
pension plans for public sector
workers and civil servants have
to be tackled. That whole issue
has to be tackled, as it will come
home to roost one day.”

Food needs hit 25 per
cent of population

FROM page 1B

monetary policy.

“We seem to be the only
country in the world not using
monetary policy,” he said.

Dr Rodgers also insisted that
the Government stem high util-
ity costs, starting with electrici-
ty, by investing in nuclear ener-
gy and promoting electric vehi-
cles capable of long distance
before needing to be recharged.

That, he said, would estab-
lish clean energy and green liv-
ing, while decreasing individu-
als costs. He added that high
electricity costs were making

the Bahamas tourism sector
uncompetitive in the region.
Dr Rodgers also contended
that the dollarisation of the
economy and the elimination
of exchange controls will go a
long way in strengthening it.
He said Bahamians have to
demand these changes from
their government in order to
see the economy become a sus-
tainable, debt-reduced one.
“It requires a change of
mindset. It requires change and
change is painful for people,”
said Dr Rodgers. “We are at a
point now that if we don’t rock
the boat, the boat will sink.”

Oru

Will be holding its

ANNUAL
GENERAL
MEETING

Friday, May 21st, 2010
Location: B.C.P.0.U. Hall Farrington Road

Time: 7 p.m.



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



PAGE 6B, FRIDAY, MAY 7, 2010

THE TRIBUNE



FROM page 1B

should not proceed for Kerzner
has other opportunities for its
requirements and just cannot
be exposed to the current
uncertainty of the agreement
being fulfilled timeously.”

The e-mail, which was also
sent to Water & Sewerage Cor-
poration acting deputy general
manager, Glen Laville, urged
him to consult Mr Roberts for





‘What a tangled web!’

his commitment to the water
supply agreement, “for it is bet-
ter to blush once now rather
than twice later, and I cannot
on behalf of Kerzner fail to
recognise there is a growing risk
of these critical supplies being
in jeopardy”.

A financial analysis of the
shambles that surrounded the
Arawak Cay osmosis plant con-
tract, which was conducted for
former Prime Minister Perry
Christie by consultant Deepak
Bhatnagar, noted that the plant

would have taken 14 months to
construct and get operational.

Yet the Memorandum of
Understanding (MoU) that the
Water & Sewerage Corpora-
tion signed with Kerzner Inter-
national in May 2005 commit-
ted it to begin supplying water
to Phase III by June 2006 -
some 13 months away. In other
words, the Water & Sewerage
Corporation committed to sup-
plying water one month before
the Arawak Cay plant could
have been built.

The Long Islanders’ Association

Annual Raffle 2010 WINNERS LIST

Maria Campbell, Quail Roost Ridge
P.O. Box N-9180

David Gape
















2010 Chevy Aveo Sedan

Whirlpool Washing
Machine - Anonymous

GE 7 Cubic Chest Freezer
- Geoffrey Jones & Co

Two Round Trip Tickets

Sharie Knowles, Weymss, Long Island

Luckie, Grays, Long Island

To Ft.Lauderdale, Anonymous

3 Days, 2 Nights Stay-
Cape Santa Maria

3 Days, 2 Nights Stay-
Stella Maris Inn

Two Round Trip Tickets

Julian, Malcom Road

Dexter Wilson, Winton Meadows
PO. Box N-9893

Stephen H.C. Storr, P.O. Box N-945

to Long Island - Keith Carroll

Two Round Trip Tickets
to Long Island-

Slow N’ Steady, P.O. Box SS-5945

Neil Knowles, Four Seasons

Crane Rental

$300.00 Gift Card-
Commonwealth Building
Supplies

. $300.00 Cellular Phone - Island Cellular

. Two Round Trip Tickets
on R/O R/O Boat with Car
to Eleuthera Or Andros-
Bahamas Sea Road

19” Color Television
Mr & Mrs Al Harding

. Two Round Trip Tickets

Lil Angie

St Andrew’s Beach Estates
P.O. Box N-8659

Cathy Lorandos

Nature’s Way Landscaping
P.O. Box CB-11382

Gelize Ferguson, 124 Mt. Royal Avenue
P.O. Box GT-2213

Tony Cartwright

on the Bohengy To Eleuthera-

Bahamas Fast Ferries

. Gents & Ladies Wrist
Watch - Crown Jewellers

. Lawn Mower -J.B.R. Building Supplies
. Bicycle - Mr & Mrs Carl Treco
. $150.00 Gift Certificate - (A.LD.)

. $100.00 Gift Certificate -
Centreville Food Store

. $100.00 Gift Certificate -

Irmath Munroe, Windsor Avenue,
P.O. Box SS-5255

George Johnson, Staniel Cay, Exuma
Danielle Bascombe, Ritchieville Dr.
KRC, P.O. Box EX-29212, Exuma

Caven McIntosh, Lot 10, Firetrail,
P.O. Box N-8804

Caden Smith, Garden Hills #1,

Early Bird Food Store

. $100.00 Gift Certificate, Shayne’s Dept.

Store

. $100.00 Gift Certificate-

The Prescription Centre Pharmacy

. Ceiling Fan - Henry F. Storr

Electric Co. Ltd.

. Ceiling Fan - Mr & Mrs Leslie Bowe
. Vacuum Cleaner-Careful Pest Control

. Portable Cassette/CD Player -

Lickety Split Ice Cream & Deli

P.O. Box FH-14353

Whitney Clarke, P.O. Box F-43029,
Freeport

Cahya Smith, Garden Hills #1,
P.O. Box FH-14353

Donavon Bullard

Olivia Fox, Salt Pond, Long Island

Terrance Simmons, Abaco

Emily Smith, Seymours, Long Island

Please contact Gina Coakley @ 325-8666 to collect your prize.
All prizes must be collected by November 30th, 2010.

ROYAL FIDELITY

Money at Wark

CcrAL

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 6 MAY 2010

FG CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

Clerlci nA) AL.

BISX ALL SHARE INDEX: CLOSE 1,561.38 | CHG 2.87 | %CHG 0.18 | YTD -4.00 | YTD % -0.26

FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

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

52wk-Low Security
1.00 AML Foods Limited

9.67 Bahamas Property Fund
5.23 Bank of Bahamas

0.44 ~~ Benchmark

3.15 Bahamas Waste

244 Fidelity Bank

9.62 Cable Bahamas

2.69 Colina Holdings

5.00 Commonwealth Bank ($1)
2.21 Consolidated Water BDRs
1.32 Doctor's Hospital

5.94 Famguard

8.75 Finco

9.50 FirstCaribbean Bank
3.75 Focol (S)

1.00 Focol Class B Preference
0.27 Freeport Concrete

5.00 ICD Utilities

9.95 J. 8. Johnson

10.00 Premier Real Estate

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Daily Vol.

i__52wk-Low
1000.00
1000.00
1000.00
1000.00

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

Previous Close Today's Close Change
1.05 1.04 -0.01
10.63 10.63 0.00
5.24 5.24 0.00
0.44 0.44 0.00
3.15 3.15 0.00
247 247 0.00
12.07 12.07 0.00
2.84 2.84 0.00
5.84 5.90 0.06
2.81 2.70 -0.11
2.54 2.54 0.00
6.07 6.07 0.00
9.08 9.08 0.00
10.60 10.60 0.00
5.08 5.08 0.00
1.00 1.00 0.00
0.27 0.27 0.00
5.59 5.59 0.00
9.95 9.95 0.00
10.00 10.00 0.00

Last Sale
100.00
100.00
100.00
100.00

Symbol
FBB17
FBB22
FBB13
FBB15

Change

Daily Vol.

EPS $ Div $ P/E

0.250 i 4.2

0.050 212.6

0.598 F 8.8

0.877 E N/M

0.168 i 18.8

0.055 i 39.5

1.406 5 8.6

0.249 i 11.4

0.460 E 12.8

0.111 i 24.3

0.627 : 41

-0.003 E N/M

0.168 F 54.0

0.678 4 15.6

0.366 5 13.9

0.000 x N/M

0.035 x 77

0.407 I. 13.7

0.952 : 10.5

0.156 A 64.1

ases)
Interest Maturity

7% 19 October 2017
Prime + 1.75% 19 October 2022
7% 30 May 2013
Prime + 1.75% 29 May 2015

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

52wk-Low Symbol
7.92 Bahamas Supermarkets
6.00 Caribbean Crossings (Pref}
0.40 RND Holdings

Bid & Ask & Last Price.
10.06 11.06 14.00
2.00 6.25 4.00
0.35 0.40 0.55

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

29.00 ABDAB
0.40 RND Holdings

52wk-Low Fund Name

30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds

NAV YTD%. Last 12 Months %

Daily Volk.

NAV 3MTH

EPS $
72.945
0.000
0.004

Div & PIE
0.000 N/M
0.480 N/M
0.000 256.6

4.540
0.002

0.000 9.03
0.000 = 261.90

NAV 6MTH NAV Date

1.3702
2.8266
1.5127

CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund

1.4602
2.9020
1.5289

6.57
0.11
4.75

1.438700
2.886947
1.507147

1.407626
2.830013
1.491956

31-Mar-10
30-Apr-10
30-Apr-10

2.9343 Royal Fidelity Bahamas G & | Fund
12.6816 Royal Fidelity Prime Income Fund
100.5448 CFAL Global Bond Fund
93.1998 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 — Royal Fidelity Bah Int! Investment Fund
Principal Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Int! Investment Fund
Principal Protected TIGRS, Series 2
4.8105 Royal Fidelity Int'| Fund - Equities Sub Fund
BISX ALL SHARE INDEX -19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month eamings
- 4-for-1 Stock Split - Effective Date 8/8/2007
- 3-or-1 Stock Split - Effective Date 7/11/2007

3.2025 - 3.54
13.4986 ‘ 5.44
107.5706 ; 6.99
105.7706 13.50
1.1034 i 5.25
1.0764 5 437
1.1041 4 5.34
9.5795 : 5.33
10.5417 -2.13 10.96

7.6928 -0.31
MARKET TERMS

47.51

103.987340
101.725415

31-Jan-00
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Dec-09

103.095570
99.417680

31-Mar-10

31-Dec-09

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported eamings per share for the last 12 mths

NAV - Net Asset Value
N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525

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

“Therefore, as far as I can
see, despite the poor planning
of the project and the chaos
which ensued, Water & Sewer-
age Corporation committed to
something which was clearly
not achievable,” Mr Bhatnagar
concluded.

His report found that
between August 31, 2006, and
March 31, 2007, Kerzner
expected to be supplied with
between 500,000 and one mil-
lion gallons of water per day,
with a minimum purchase
increasing to two million gal-
lons per day by December
2007.

Failing to perform, the Bhat-
nagar report said, could have
exposed the Water & Sewer-
age Corporation to a maximum
$1.17 million penalty over an
18-month period to December
2007, with the penalties rising to
$10 per thousand gallons from
2008 onwards.

Kerzner International’s com-
mitment was $6.2 million per
year, based on a minimum use
of 1.7 million gallons per day,
and Mr Bhatnagar’s report
alluded to “the threat” as to

(CREDIT SUISSE

whether or not the company
might put Phase ITI on hold.

“It is also my view that
Water & Sewerage Corpora-
tion’s negotiations with Kerzn-
er International have been poor
and ineffective,” Mr Bhatnagar
concluded in his report to Mr
Christie. “With Heads of
Agreement signed with Kerzn-
er, it took one year for Water &
Sewerage Corporation to sign
the Memorandum of Under-
standing. Further, the MoU did
not stipulate the amount of the
penalties and the security
deposit.”

Kerzner International had
also committed to loaning $2.4
million to the Water & Sewer-
age Corporation, payable
between 2011 and 2017, and Mr
Bhatnagar’s financial report
instead recommended that the
developer lodge a $5 million
bond to secure its commitment
to take $6.5 million worth of
water over 25 years.

The Arawak Cay plant never
proceeded under the former
Christie administration, after
the then-government decided
the area should become a cul-

tural and touristic area. Perpall
Tract was eyed as a new loca-
tion for the reverse osmosis
plant, but concerns raised over
this site at the time are still rel-
evant today, given that the
Government is looking at reviv-
ing the project.

A May 23, 2005, e-mail from
Mr Laville said that given that
the Perpall Tract site was 1.5-2
miles from the one initially pro-
posed, “this means a higher cost
and (possibly) longer construc-
tion”.

He added: “PS: What a tan-
gled web..... again.”

And in a July 20, 2005, e-
mail, Mr Laville fleshed out his
concerns, saying: “A new site
at the Perpalls Wellfield will
cost up to $5 million extra for
the additional pipework, pump-
ing station, and other activi-
ties/issues.

“This will mean an addition-
al $0.46 per 1,000 imperial gal-
lons of water or $0.5 million per
year, and $10 million over the
life of the contract. Not to men-
tion the increased construction
time, which will threaten our
success with Sun [Kerzner].”

Credit Suisse AG, Nassau Branch - Wealth Management

is presently considering applications for a

Temporary Entry Level Position in the Compliance and Risk Management Department

Coreclit — AG is ane of the world's premier banking institutions

Our dedication and highly qualified

shell prevides our chantaa with compeghanshe solutiore in indhidual meinen! coundeling and profes
sional portlolo management. Gur fatal commitment is always to our chents and we focus without

compenmise on their financal well-being and their peroneal vahues

The position is open to candidates with the following minimum requirements:

Qualifications:

* Recent graduate of an accredited University/College
* PC Literacy (MS Word and Excel)
* Excellent compuiaiional and analytical skills

Guties;

The

sandal will be expected to:

Assist with ensuring requested documents are received and processed on a timely basis
Agalst in creating management neports
relevant policies are observed and controls maintained
Maintain chent databases

Assis

| Quai

* Excellent organizational x
« Good work ethic and

tin ensuring tad

1d communication Skils

comMmidmernt to service excellence

* Ability to work under pressure and wih minim sugerisior

Applications must be in writing. Persons not meeting the minimum requirement need

not apply.

Applications should be submitted by fax to: (242) 202-8380

Or by mall te; P.O, Boo N-4801
Nassau, Bahamas

DEADLINE FOR RECEIPT OF APPLICATIONS IS MAY 21, 2010

Taha CMG eae

: Tel: 502 2356 |

for ad rates




We Ua MC tt 7 el



THE TRIBUNE FRIDAY, MAY 7, 2010, PAGE 7B
BISX Index ‘on track’
for 8% annual growth

NOTICE

NOTICE is hereby given that AGNES MARIE TRINCARD
of GREAT HARBOUR CAY, BERRY ISLANDS, THE
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 7â„¢ DAY of
MAY, 2010 to the Minister responsible for nationality and Citizenship,
P.O. Box N-7147, Nassau, Bahamas.



FROM page 1B

“T’ve always predicted that
at best the market would fin-
ish the year in a neutral posi-
tion, maybe a slight bump up,”
Mr Kerr told Tribune Business,
“but I don’t think we will see a
substantial pick up until 2011.”

Mr Kerr said that a 10 per
cent year-over-year apprecia-
tion in the value of the BISX
All-Share Index, a market cap-
italisation-weighted index, was
“an outside optimistic perspec-
tive, but certainly a neutral to
positive story would be an
accomplishment, all things con-
sidered”.

He added that, based on the
2010 first quarter performance,
the All-Share Index “was on
track, at that clip, to do 8 per
cent, if we do 2 per cent per
quarter.

“The demand will come from
new potential opportunities
that drive the market,
Heineken and the Arawak Cay
port deal. That could create

compared to the 103.35 or 5 per
cent decrease it suffered dur-
ing the 2009 first quarter.

The All-Share Index’s 2 per
cent first quarter improvement
was in line with some major
global stock market indices.
The MSCI Emerging Market
Index rose by 2.1 per cent in
the three months to March 31,
2010, with the S&P 500 Index
and FTSE 100 Index both up
by 4.9 per cent.

The 2010 first quarter data
was skewed by the $80 million
buyout of Cable Bahamas’ con-
trolling shareholder, Columbus
Communications, which saw
30.2 per cent of the company’s
outstanding ordinary shares -
some 5,954,600 shares - change
hands. This gave a total trad-
ing volume of 6,673,918 shares,
worth a collective $85.392 mil-
lion.

“Removing this transaction
from the first quarter, 2010 sta-
tistics results in 719,318 shares
trading for a value of $5.421
million,” BISX’s report said.

“By comparison, trading vol-
ume for the three-month period
ending March 31, 2009, was
618,337 shares for a value of
$3.355 million. Excluding the
Cable Bahamas trade, trading
volume for the 2010 first quar-
ter increased by 100,981 shares
or 16.3 per cent over the same
period of 2009, while the value
of shares traded for the 2010
first quarter period increased
by $2.067 million or 61.6 per
cent.”

BISX reported that the aver-
age daily trading volume during
the 2010 first quarter was 10,924
shares, with a daily value of
$84,460.

“During this three month
period, March 2010 saw the
highest average daily trading
volume and value with 18,226
shares and $90,706 trading val-
ue, respectively,” BISX said.
“By comparison, the three-
month period ended March 31,
2009, saw an average daily trad-
ing volume of 9,815 shares,
which equated to an average

daily trading value of $53,251.”

For January 2010, the aver-
age daily trading volume was
9,182 shares valued at $82,195,
a decline on the 13,390 average
for the same month in 2009.
However, January 2009's daily
average value was less at
$67,447.

And for February, the aver-
age daily volume traded was
5,365 compared to 5,309, with
the average value of $80,480
exceeding the $34,373 average
from last year.

NOTICE

NOTICE is hereby given that JEAN SIRRA of WEST BAY
STREET, P.O. BOX AP-59223, 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 30‘ day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



a 147

MINISTRY OF LABOUR & SOCIAL DEVELOPMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 338

THE PRICE CONTROL
(GASOLINE & DIESEL OL)
[AMENDMENT] ( ) REGULATIONS, 2002

some renewed interest in the
market.”

Mr Kerr told Tribune Busi-
ness that investor confidence
in Bahamian equities had start-
ed to return “at the corporate
and institutional level, and in
select pockets at the retail lev-
el”, but many individual
investors were sitting on the
sidelines “waiting to see signs of
economic improvement” before
actively entering the market
again.

“I don’t think the market is
going to slide much from here,”
the Providence Advisors’ chief
executive added, “which is why
I say a neutral to slightly posi-
tive would be a good position
for us to be in.”

He was “sufficiently com-
forted” that the Bahamian
equities market was on the road
to recovery.

BISX’s market capitalisation
remained in excess of $3 bil-
lion, its 24 primary listings hav-
ing a collective worth of $3.079
billion. The All-Share Index’s 2
per cent, or 31.24 point increase
to 1,569.62 at end-March 2010,

Legal Notice

NOTICE

KRONE PREMIER
INVESTMENTS LTD.

(In Voluntary Liquidation)

The Public 6 advised thal prices as shown in the Schedule for Lead Free ( 37) Gapedine old
be Freeport Oil Company Lid will become cfectivs on Wednesday, May $". 2010

SCHEDULE

MAXIMUM WHOLESALE SELLING PRICE |
PER U.S. GALL CM WOOMUM RETAIL |

SELLING PRICE
MAXIMUM | PERU. GALLON

| Wei
| SUPPLIERS’ PRICE

DISTRIBUTORS’
PRICE
i | 5 | 5

Pursuant to Section 137 (4) of the International
Business Companies Act, 2000, notice is hereby

| BART 8

| FREEPORT INCLUDING SEA FREIGHT

given that the above named Company is in
dissolution, which commenced on the 5th day of
May, 2010. The Liquidator is BdS Corporate Services
Limited, George House, George Street, P.O. Box N-
8159, Nassau, Bahamas.

Freeport Oil Company | Lead Free (a7| | 48 4oH | 4.47
Limited | |

ra fh
: Lr th
BARBARA BURROWS
PERMANENT SECRETARY



BdS Corporate Services Ltd.
(Liquidator)





$





We Take
Any Trade-ins

a

Sheraton
Nassau

BEACH RESORT



The new 70) room Sheraton Cable Beach Resort, Nassau, The Bahamas is looking
for

Banquet Manager





Effectively monitor the daily operations of the Banquet Department, including pro-
viding support and guidance to fellow banquet personnel to ensure a sucecssful and
cifoective operation cnding in a positive gucsl cxapericnce.

Fesential Functions

* Review all written communication, 1.¢., resumes, dulyiweekly, Banquet Event
Orders te determine appraperiabe sia fing levels, room station assignments, ba lfet
décor and enhancements as they relate lo banquets and melting rom sel-ups.

* Responsible for maintaining a strong client relationship and ensuring that all
convention specifications are communicated to and executed by all hotel operating
departments. Maintain constant and timely communication with the Convention
Service/Catering Sales Manager ae it applics to the client at hand.



* Responsible for the appropriate and timely act up of all functions and mectings
while maintaining standards of fond, beverage and meeting specifications.

SWwifT

So, you want everything in life.

Skills & Abilities

Must be able to speak, read, write and understand the English Language.
Requires good communication skills, both verbal and written.
Must possess basic computer skills and computational ability.
Must have a working knowledge of types of room set-ups and capacttees im
Telation to type of event, etc.
Must have excellent interpersonal and ealea-related skills.
* Must have exceptional organizational, supervisory skills.
* Most be able to preparc and analyze data and figures, and transcriptions prepared
on and pencrated by computer.
* Must have exceptional food and beverage knowledge and pricing.

Why not? It’s quite alright to be a bit greedy when it comes to
the Suzuki Swift. Fun, funky, and yes, practical. All rolled
into one tight package.With its nimble moves and handling,
you'll jump right into a whole new world of exhilaration.

Watch out, you may have friends out the door asking you for
a ride. Or the keys. Suzuki Swift. Just what you need. And want.

Crualifications & Eaperence
Price includes rustproofing, licensing and inspection to birthday, full tank of fuel,
24,000 miles/24 months warranty and emergency roadside assistance.

QUALITY:

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

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

* High School or equivalent education required, Bachelor's Degree preferred,
© One to two years of food and beverage service background and prior hospitality
expenicnce required,



Qualified applicants are invited to visit our website or email resumes to:
anbrjobat! sheraton.com

Note: All information will be held in strictest of confidence
Deadline for all applicants is June 7, 2010







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





THE TRIBUNE

FRIDAY, MAY 7, 2010, PAGE 9B



By The Associated Press

A LOOK at economic devel-
opments and activity in major
stock markets around the world
Thursday:

European Central Bank’s

benchmark interest

rate unchanged at 1%

LISBON, Portugal — The
European Central Bank left its
benchmark interest rate

fee g[ey 3

NOTICE is hereby given that CEREMY KESIA of MARSH
HARBOUR, ABACO, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person
who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the tacts
within twenty-eight days trom the 7â„¢ DAY of MAY, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box N-
7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that GERALDINE PAUL of 2206
ADAMS STREET, APT. #3, HOLLYWOOD, FLORIDA 33020
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 30 day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MARCELLIN PIERRE of TALL
PINE OFF GLADSTONE ROAD, NASSAU, BAHAMAS
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 30‘ day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that FRITZ PIERRE of COLLINS
AVENUE, 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 30 day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DANIEL JUSLENE of
MARATHON 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 30‘ day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



INTERNATIONAL BUSINESS

a X05) 50100, 001 >) =
A look at global economic developments

unchanged at one per cent in a
widely expected decision, and
did not unveil any new mea-
sures to ease the debt crisis
engulfing the eurozone.

Bank President Jean-Claude
Trichet said Europe’s economy
was recovering and downplayed
risks that Greece’s crisis would
infect Spain or Portugal. He dis-
missed suggestions that Greece
will end up defaulting on its
debt even after getting bailout
money. He also said the bank’s
governing council did not dis-
cuss buying government bonds
— one anti-crisis measure some
economists are calling for —
nor the need to create an order-
ly default mechanism for the
eurozone.

Chancellor: Market

speculation on Greek

financial crisis exaggerating

eurozone’s problems

BERLIN — German Chan-
cellor Angela Merkel said mar-
ket speculation on the Greek
financial crisis has been exag-
gerating the eurozone’s prob-
lems and should be controlled
in the future. The German par-
liament is debating legislation
that would provide the go-
ahead for euro22.4 billion
($28.6 billion) in credit for
Athens. It passed the lower
house’s budget committee. The
full house will vote tomorrow.

Merkel lashed out at banks
for driving the world into a
financial crisis by racking up
debt through costly stimulus
programmes and then specu-
lating against the states’ debt.
She argued the eurozone
should work as a bloc and han-
dle such crises itself in order to
give more confidence to the
markets.

UN: Asian governments
should maintain stimulus
spending, low interest rates
SINGAPORE — Asian gov-
ernments should maintain stim-
ulus spending and low interest
rates, even at the risk of higher
inflation and despite expected
growth of 9.5 per cent this year
in China and 8.3 per cent in
India, the United Nations said.

Premature withdrawal of
stimulus spending could have
severe consequences for the
region’s growth and for the
livelihoods of its poorest peo-
ple.

Gross domestic product in
developing Asia — the region’s
37 countries excluding Japan,
Australia and New Zealand —
will likely grow seven per cent
this year, up from four per cent
last year, as export demand

INSIGHT

For the stories
behind the news,
to L [ole T a
on Mondays

Premier Commercial Real Estate Investment Corporation Ltd.

We report that the company’s net assets per share were 11.72 per share compared to 12.32 per

share for the same quarter last year.

An interim dividend was not declared for the quarter ending December 31, 2009

Ivyln Cassar

Director Director

Hannes Babak

Premier Commercial Real Estate Investment Corporation Ltd.

Abbreviated Unaudited Balance Sheet & Income Statement

At December 31, 2009 and December 31, 2008

(Expressed in Bahamian dollars)

Balance Sheet
As of:

December 31,
2009
$

16,043,314
3,346,802
12,696,512
11.72

Total Assets

Total Liabilities
Total Net Assets
Net Assets per Share

Income Statement
Quarter ending: December 31,

2009

$
342,391
73,093
269,298

Total Income
Total Expenses
Net Income

December 31,
2008

$
17,188,761
3,844,706
13,344,056
12.32

December 31,
2008

$
231,772
89,406
142,366



rebounds, the UN said.

World stocks slide again

LONDON — World stocks
slid again as worries linger that
Greece’s debt woes will spread
to other parts of Europe.

In Europe, Britain’s FTSE
100 index tumbled 80.94 points,
or 1.5 per cent, to close at
5,260.99 while Germany’s DAX
fell 50.19 points, or 0.8 per cent,
to 5,908.26. The CAC-40 in
France was 79.92 points, or 2.2
per cent, lower at 3,556.11.

The euro fell further against
the dollar, hitting a new 14-
month low. The pound also
took a battering ahead of
Britain’s general election result,
dropping 1.4 per cent to
$1.4887. No relief was provided
by Wall Street — the Dow
Jones industrial average was
down 156.06 points, or 1.4 per
cent, at 10,712.06 in New York
afternoon trading while the
broader Standard & Poor’s 500
index fell 20.16 points, or 1.7
per cent, to 1,145.71. The Nas-
daq composite dropped nearly
two per cent to 2,355.93.

Asian stocks had also tum-
bled earlier, with Japan’s
Nikkei 225 stock average diving
3.3 per cent to 10,695.69 for its
biggest one-day fall in over a
year while China’s Shanghai
benchmark sank 4.1 per cent.
Japanese markets were closed
Monday through Wednesday
for holidays.

South Korea’s Kospi
dropped two per cent to
1,684.71, Hong Kong’s Hang
Seng retreated one per cent to
20,133.41, Australia’s bench-
mark lost 2.2 per cent and
Indonesia sank two per cent in
a regionwide rout. Benchmarks
in Singapore, Taiwan, India,
Malaysia and Thailand also slid.

Moody’s warns Greece

debt crisis could spread

LONDON — Leading cred-
it ratings agency Moody’s
Investor Service warned the
debt crisis enveloping Greece
could spread to hurt the bank-
ing systems in Portugal, Italy,
Spain, Ireland and Britain.

Moody’s said that although
banks in some countries, such
as Portugal and Italy, were not
heavily affected by the past
years’ financial crisis, they could
be impacted by the fiscal crisis
if it spreads outside of Greece.
Contagion risk will hinge on
the market’s view of the Inter-
national Monetary Fund and
European Union support pack-
age for Greece, the agency said.

National Australia Bank

reports 21.4% drop in

first half net profit

SYDNEY — National Aus-
tralia Bank, one of the coun-
try’s largest lenders, reported
a 214 per cent drop in first half
net profit, following customer
fee cuts, lower revenue from its
treasury division and the whole-
sale banking arm’s activities in
global financial markets.

The bank’s wholesale bank-
ing division said revenue from
its global markets and treasury
businesses was abnormally high
in the previous half-year due
to market volatility. The bank
has the lowest home loan rates
of the country’s four major
banks.

French bank reports

46.5% jump in Q1 profit

PARIS — French bank BNP
Paribas SA reported a 46.5 per
cent jump in profit for the first
quarter, thanks to gains on its
purchase of assets in Belgium’s
Fortis and a gradual recovery in
economic conditions.

The largest banking group in
the eurozone by deposits said it
had “limited” exposure of
about euroS billion ($6.46 bil-










lion) to Greece’s debt, with
another euro3 billion in com-
mercial investments, primarily
in the shipping sector. BNP
Paribas insisted overall fallout
from the Greek crisis was “neg-
ligible” in the quarter.

Net profit for the first quarter
was euro2.28 billion ($2.95 bil-
lion), up from euro1.56 billion
in the first quarter of 2009.

Poland’s government

considering asking IMF to

extend $20.6m credit line

WARSAW, Poland — In
view of the financial meltdown
in Greece, Poland’s govern-
ment says it is considering ask-
ing the International Monetary
Fund to extend it a $20.6 mil-
lion flexible credit line for
another year. The Finance Min-
istry said it will ask the Nation-
al Bank of Poland to support
the request.

The deputy head of the bank,
Witold Kozinski, said the bank
sees no need for the move due
to sufficient currency reserves,
but will support the motion. A
deal that Poland concluded
with the IMF last year in view
of the global crisis expired on
Wednesday without Poland
having drawn any loans.

Czech Republic’s central

bank cuts its key interest rate

PRAGUE — The Czech
Republic’s central bank cut its
key interest rate by a quarter
of a percentage point to 0.75
per cent — its new lowest rate
since the country was created in
1993 out of the former Czecho-
slovakia. It’s aimed at helping
the country’s export-oriented
economy recover from the
global economic crisis.

The Czech economy con-
tracted by 4.2 per cent last year
and the European Union pre-
dicts a grow of 1.6 per cent this
year, followed by 2.4 per cent in
2011.

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

German government’s

tax income will be lower

than expected this year,

several years to come

BERLIN — The German
government’s tax income will
be lower than expected this
year and for several years to
come, the Finance Ministry
said, raising questions about
whether Chancellor Angela
Merkel’s center-right coalition
will be able to fulfill the vague
pledges of tax relief it made
when it took office last Octo-
ber.

The Finance Ministry said a
regular meeting of experts esti-
mated this year’s tax take at
euro510.3 billion ($658.4 bil-
lion) — euro1.2 billion short of
their previous forecast in
November.

Last year’s total income for
Europe’s biggest economy was
euro524 million.

Spain’s borrowing costs

rise significantly in its

first debt auction

MADRID — Spain’s bor-
rowing costs rose significantly
in its first debt auction since its
credit rating was downgraded
last week by Standard & Poor's
amid concerns it might be hit
by a Greek-style debt crisis.

The Spanish Treasury said it
issued euro2.345 billion in 5-
year bonds at an interest rate of
3.58 percent, up from 2.84 per-
cent in the last auction in
March.

The Treasury's target was to
issue between euro2 billion and
euro3 billion in 5-year bonds,
well below the euro4.5 billion
issued in March.

A Finance Ministry official
downplayed the government's
decision to scale back its debt
issuance and played up the fact
that the auction was oversub-
scribed, saying it showed
investors still have a strong
appetite for Spanish debt.

2009
CLE/gen/No.01884

COMMON LAW and EQUITY DIVISION

BETWEEN

COASTAL SYSTEMS DEVELOPMENT, INC.

Plaintiff

ROOSEVLT NONOME
(trading as BELLO’S CONSTRUCTION)

Defendant

NOTICE

To: The Defendant

NOTICE
TO ALL SAFFRON HILL
PROPERTY OWNERS

Please be advised that the registered office of Saffron Hill
Property Owners Association Limited (SHPOAL) has been
changed to Catsan and Chipman Limited located 2nd Floor,
Martime House, Frederick Street, Nassau, Bahamas. All
Members are asked to urgently contact Catsan and Chipman
at 325-7585 for further information.

Signed, Saffron Hill Property Owners Association
Limited (SHPOAL), Board of Directors.

Pursuant to the Order ofMr. Emie Wallace, Deputy Registrar of
the Supreme Court, made herein on the 19th day of April, A. D.,
2010, granting the Plaintiff leave to effect substituted service on
you, TAKE NOTICE that this action has been commenced by the
Plaintiff against you by way of a Writ of Summons filed on the 2nd
day of December, A. D., 2009 claiming the following relief:

a. The sum of US$95,932.02 as the cost of recovery and
repairs to the Komatsu PC400C, plus interest at such rate
and for such period as to the Court might seem just pursuant
to the Civil Procedure Act, Chapter 66 of the Statute Laws of
The Bahamas; and

b. Costs;

c. Such further or other relief as to the Court might seem just.

AND FURTHER TAKE NOTICE that unless you the Defendant
enter an appearance by filing the same at the Registry of the
Supreme Court within 14 days of the final publication hereof the
Court may proceed in this action in your absence and make such
order as it deems just.

CLARITA V. LOCKHART
CHAMBERS

NO. 90 SHIRLEY STREET
NASSAU, BAHAMAS
Attorney for the Plaintiff











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THE TRIBUNE

FRIDAY, MAY 7, 2010, PAGE 11B



DirecTV Q1 profit almost triples as revenue rises

By DEBORAH YAO
AP Business Writer

DIRECTV Ince., the
nation’s largest satellite TV
provider, reported Thursday
that its net income nearly
tripled after it added new
video customers principally at
the expense of rival cable
companies. But growth
appears to be slowing.

The El Segundo, California,
company added 100,000 net
new US customers in the
quarter, down from last year’s
460,000, which was inflated by
long holdouts to subscription
TV service finally signing up
as the country switched to
digital broadcasting from ana-
log.

‘DirecTV, rival satellite TV
company Dish Network Corp.
and phone companies offering
video service have been chip-
ping away at cable’s two-
thirds market share of the
subscription TV market.

On Thursday, Cablevision
Systems Corp. reported a 900
subscriber gain in the first
quarter from the prior quar-

Wu Mie





A DIRECTV satellite dish is shown at a home in California. DirecTV Inc., the nation’s largest satellite TV
provider, said Thursday that its net income nearly tripled after it added new video customers principally at the
(AP Photo)

expense of rival cable companies...

ter, but it was down 37,900
year-over-year. Comcast
Corp. lost 82,000 video cus-
tomers sequentially while
Time Warner Cable Inc. lost
42,000 compared with the pri-
or quarter.

But the number of new cus-
tomers that signed up with
DirecTV in the quarter was
the company’s smallest gain
ever, according to Sanford
Bernstein analyst Craig Mof-
fett.

Shares fell 37 cents to
$34.86 in afternoon trading.

DirecTV earned $558 mil-
lion, or 59 cents per share, in
the quarter ended March 31,
up from $201 million, or 20
cents per share, a year ago.

Revenue rose 14 per cent to
$5.6 billion from $4.9 billion a
year ago.

The results beat analysts’
forecast for earnings of 45
cents a share and revenue of
$5.4 billion.

“Customers do appear
more willing to purchase
additional content and premi-
um services,” said Michael
White, DirecIV’s chief exec-

utive, in a conference call
with analysts.

Free cash flow, a key metric
of subscription TV companies
because they tend to have
massive debt burdens, more
than doubled to $1 billion.

DirecTV said the average
monthly revenue per US sub-
scriber came to $85.47, up 6.4
per cent. That’s due to price
increases, higher high-defini-
tion TV and digital video
recorder fees, higher advertis-
ing sales and an extra week of
revenue for its NFL Sunday
Ticket package.

DirecTV's Latin American
operations saw revenue rise
by 30 per cent to $779 million.
It added 221,000 customers in
the quarter, up from 148,000.

Jeffrey Wlodarezak, an
analyst at Pivotal Research
Group, said in a research note
that free cash flow came in
much better than expected.

He expects DirecTV to ini-
tiate a dividend once it releas-
es second-quarter earnings in
August, a way to return cash
to shareholders since growth
is slowing.











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INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

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Volume: 106 No.138



The Tribune





ANY TIME...ANY PLACE, WE’RE #1



www.tribune242.com

FRIDAY, MAY 7, 2010





Steak Is Back

Time e









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













‘My Son Is going
to hang nimself

Mum’s desperate bid
to save 21-year-old
ends in tragedy

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A MOTHER frantically
tried to prevent her son from
committing suicide shortly
before he was found hanging
from a tree in a graveyard
yesterday.

She rushed to Nassau Street
Police Station after confiscat-
ing a rope from her son who,
she said, was intent on killing
himself and needed psycho-
logical help.

Officers accompanied her
to her home in South Street
just after 9am but found her
son had gone.

About half an hour later he
was discovered hanging from
a large guinep tree in the
graveyard behind Bethel Bap-
tist Church, in Meeting Street.
It’s the church his mother reg-
ularly attends.

Last night, police had not
officially identified the
deceased, however neigh-
bours said he was 21-year-old
Trevon Williams, who was

unemployed and lived with
his mother.

Mona Etienne, of nearby
West Street, told The Tribune
how she discovered the body,

She said she called two
groundskeepers to cut him
free from the tree branch, but
it was too late.

“Tf he wasn’t dead I would
have helped him, I would
have given him CPR,” she
said.

Assistant Superintendent
of Police Philip Don Wilson,
who is in charge of the Nassau
Street Police Station, was at
the scene but was reluctant to
identify the deceased or draw
conclusions about how he
might have died yesterday.

He said: “The mother left
him at home prior to going to
the station and brought a
noose, a rope, she had taken
from him earlier in the morn-
ing.

“She told us he was going
to kill himself and officers
responded immediately.

SEE page 12

WHY ARE $0 MANY







re

te

One of es



capees acquitted of KP

pape, Kidnapping, armed robbery

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net



ONE of the two men, who
escaped from the Central Police Sta-

tion on Tuesday, was acquitted of

rape, kidnapping and armed rob-
bery charges yesterday.

After two-and-a-half hours of

deliberation, a jury of six women
and three men found Renardo Bas-



RENARDO
BASTIAN

tian, 20, not guilty on all seven of the charges against

SEE page 16







ASP Philip Don Wilson (above)
speaks to the media yesterday
from the scene (main photo)
| where the 21-year-old was
—| found hanged.












=








Stafford Sands on
$10 debate rages on

THE DEBATE continued earlier this
week over the government’s decision to
return the image of Sir Stafford Sands to the
Bahamas’ $10 banknote, replacing the
image of Queen Elizabeth I.

On ZNS’ Issues of the Day radio pro-
gramme hosted by Krissy Love, callers
voiced their support and condemnation of
the government’s idea as the show engaged
in a wider discussion on race relations in

SEE page 12







Alfred Sears

‘received no

money’ from
‘Ninety’ Knowles

By NOELLE NICOLLS
Tribune Staff
Reporter

nnicolls@
tribunemedia.net



ALFRED Sears, Fort
Charlotte Member of
Parliament, said yester-
day he has received no
money from convicted
drug trafficker Samuel
“Ninety” Knowles, who
operated businesses in
his constituency.

He made his declara-
tion during his contribu-
tion to the debate on the
Speech from the Throne.

Knowles was first
indicted in 2000 by a fed-
eral grand jury in Florida
for smuggling cocaine.
He was extradited by
Bahamian authorities in
2006 after spending six
years at Her Majesty’s
Prison fighting extradi-
tion.

Florida courts convict-
ed him in 2008 of con-
spiracy to import cocaine
and possession with the
intent to distribute
cocaine. He was sen-
tenced to just under 30
years behind bars.

Mr Sears disclosed the
information after stating

SEE page 16







MP calls for laws
against ‘secret
political contributions’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

“SECRET political contri-
butions” from foreign entities
could raise suspicion of cor-
ruption in the Bahamian polit-
ical process, Fort Charlotte MP
Alfred Sears said yesterday in
the House of Assembly.

He called for laws to be put
in place requiring disclosure of
all political contributions from
foreign entities to political par-
ties and individual politicians.

Mr Sears said financial con-
tributions to both political par-
ties from the Grand Bahama
Port Authority was an indica-
tion of contributions from a for-
eign entity. The Port Authority
is primarily owned by foreign-
ers and one of its principal own-
ers, Sir Jack Hayward, is non-
Bahamian.

Sea Breeze Member of Par-
liament Carl Bethel challenged
whether the Port Authority
should be described as a for-
eign entity, considering it has
been domesticated in the
Bahamas for 50 years and is a
municipal authority in Grand
Bahama.

According to Mr Sears, the

SEE page 16



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NASSAU AND BAHAM/

ISLANDS LEADING NEWSPAPER
PAGE 2, FRIDAY, MAY 7, 2010

THE TRIBUNE

LOCAL NEWS

CHEZ WILLIE RESTAURANT DEMOLISHED

a

DEMOLITION WORK at the Chez Willie Restaurant
yesterday.

By ALESHA CADET



BOTH wings of the Chez Willie Restaurant building on
West Bay Street were demolished yesterday.

Craig Flowers, who recently bought the building, told
The Tribune the original structure was compromised
when the restaurant was expanded some years ago.

He said: “I would like to put the old home structure
back there. [am comfortable and proud of restoring one
of the old home sites.

“We want to further improve the downtown Bay Street
appearance; a better face-lift for the downtown area.
We are doing our best to preserve what was there 60
years ago.”

Mr Flowers did not say how he plans to use the build-
ing once it has been restored.

Tim Clarke/Tribune staff







INDEX

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OPEN for Breakfast
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Bishop Randy
Fraser retrial set
to continue today

BISHOP Randy Fraser is
expected back in court today as his
unlawful sex retrial continues.

The retrial, which began before
Magistrate Carolita Bethell last
May, is expected to continue
before the magistrate this morn-
ing.

Fraser, who is on $10,000 bail, is
accused of having a sexual rela-
tionship with a 16-year-old girl
between July 2005 and February
2006.

He is represented by attorney
Wayne Munroe.

Franklyn Williams, assistant
director of Legal Affairs, is prose-
cuting the case.

Gunmen attack man and woman outside their homes

POLICE are investigating the armed
robberies of a man and a woman — who
were attacked outside their homes by
gunmen during two separate early morn-
ing incidents.

The first occurred sometime around
9.04 am Wednesday at Herbert’s Way
in the South Beach area.

Police were told that a woman, while
sitting in her white 2003 Honda Accord,
which was parked in her yard, was
approached by a man armed with a hand-
gun.

The man demanded cash before rob-
bing the victim of her car, license plate
number 1915999, which contained her
handbag and other personal effects.

The culprit fled the area in an
unknown direction, said Press Liaison
Officer Sgt Chrislyn Skippings.

Later that day, around 11.30 am police
received information of an armed rob-
bery at Ludlow Street off Mount Royal
Avenue. Police were told that a 42-year-
old man, while outside his home, was
approached by another man, armed with
a handgun.

The culprit, wearing a black hat, white
t-shit and plaid shorts, robbed the vic-
tim of his jewellery, then jumped over a
western wall and fled in an unknown
direction.

Police investigations continue.





In other crime news, a man is in hos-
pital after being stabbed by another man
while standing with a friend in the Wilson
Track area.

According to Sgt Skippings, police
were called to the scene around 12.31
pm Wednesday and were told that two
men, ages 23 and 24, were in the Wilson
Track area when they were approached
by another man who attacked them.

At some point during the fray the two
men were stabbed. The victims were
taken to hospital. As of press time, one of
the victims was treated and discharged,
however the other remained in hospital
in stable condition.

FIREARM ARREST

A 28-year-old man is assisting police in
their investigations after officers found an
AK-47 rifle hidden in the ceiling of a
bathroom during a search of a home in
the Chippingham area.

Around 9.10 am Wednesday officers of
the Southern Division executed a search
warrant on a residence at Rose Bud
Street in Chippingham. They searched
the home and recovered the high pow-
ered assault rifle (AK47) in the ceiling of
the bathroom.

A 28-year-old male was taken into cus-
tody.

DRUG ARREST

POLICE found a quantity of suspect-
ed marijuana in an unlikely hiding place
—a toilet — while searching a home near
the East Street area.

Around 7.45 pm Tuesday, officers of
the Southern Division executed a search
warrant on a home at Plantol Street off
East Street. After searching the home
they found a quantity of suspected mar-
ijuana hidden in a toilet.

Three people were taken into custody,
a 40-year-old woman and a 45-year-old
man, both of Plantol Street, and a 22-
year-old man of Sea Breeze.

Investigations continue.

UNLICENSED FIREARM ARREST

THREE men are assisting police when
officers found a handgun and ammuni-
tion after searching a home on Soldier
Road.

Police said the search occurred around
2.30 pm Wednesday. Officers of the
Select Enforcement Team, acting on
information, executed a search warrant
on a residence at Soldier Road near Bail-
lou Hill Road. There they recovered a
handgun with ammunition. Three men,
two who are 29 years old, and the other
42 years, were taken into custody.

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THE TRIBUNE

Plan of action to be formed

in event of oil spill risk

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



LOCAL officials will meet
next week or earlier to form
a plan of action in the event
weather conditions push a
giant oil spill in the Gulf of
Mexico towards the Florida
Straits — putting the western
Bahamas at risk.

International scientists are
monitoring the slick's move-
ments to determine if it will
move along the eastern coast
of the United States through
the "loop current" - a warm
ocean current that moves
clockwise through the
Caribbean Basin to the Gulf
of Mexico and then the
Florida Straits.

Such a move could send
the spill around Florida and
into the Atlantic Ocean, pos-
sibly leading to oil covered
beaches and the death of
marine life in that area,
according to the Associated
Press.

This could also put Cay
Sal Bank, the Bimini chain,
the western side of Andros
and West End, Grand
Bahama at risk, said Com-
mander Patrick McNeil,
head of the National Oil
Spill Contingency Team.

Yt ARNT

Memorial Service for
SCLIB RE BET ATCT

A STATE-RECOG-
NISED memorial service
will be held for the late
Patricia, Lady Isaacs, for-
mer Deputy to the Gov-
ernor General, at 3pm at
the Parish Church of the
Most Holy Trinity, Staple-
don Gardens, Friday, May
14.

Lady Patricia, wife of
the late Sir Kendal Issacs,
former Leader of the Free
National Movement
(FNM), died on Monday,
April 26.

She was a former
matron of the Princess
Margaret Hospital where
she served for many years.
Later she became a train-
ing officer in the Bahamas
Public Service and assisted
with the development of
future senior public offi-
cers.

The public will be able
to sign the Book of Con-
dolence at the church on
Thursday, May 13, from
11.30 am to Spm. The ser-
vice will be carried live on
the radio.









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il Asheen of oil as eS
the eye can see, the Joe Griffin
arrives at the i explosion site
carrying the containment ves-
sel which will be used to try to
contain the Deepwater Horizon
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"The reason why we have
to watch out is one of the
important factors is whether
or not a system comes in and
changes the (slick's) flow. If
a system does come in and
change the flow and it travels
up the Florida Straights, it
would affect the western
Bahamas," he said.

Representatives of the
BEST Commission, the

National Geography Infor-
mation Agency, the Depart-
ment of Meteorology, the
National Emergency Man-
agement Agency along with
police and Defence Force
officers met on Tuesday to
discuss emergency strategies
should the massive spill head
our way.

"We will meet again carly
next week but we are still

Ship stranded on sand
bank freed and inspected

THE German container ship that became stranded on a
sand bank near Bimini earlier this week has been freed and
inspected, and is now back in service with Crowley Shipping.

According to Mark Miller, director of corporate communi-
cations at Crowley, the vessel has been freed by its owners, who
conducted an inspection of the craft and discovered that the ves-

sel had incurred no damage.

The Stadt Hannover has since been cleared to re-enter the
service of Crowley Shipping and is expected to off-load its

cargo some time this morning.

Following this procedure, Mr Miller said, the Stadt Han-
nover is expected leave Nassau and travel to Jacksonville,
Florida as it continues on its scheduled route.

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monitoring very closely the
situation as it develops in the
Gulf in terms of what the
engineers and scientists are
doing. In the event that
things turn for the worse and
it does come via the Florida
Straights, then we will meet
earlier," added Commander
McNeil.

Environment Minister
Earl Deveaux has said local
officials will appeal to the
international community and
oil industry stakeholders
doing business in the
Bahamas for help in the
event of a worse case sce-
nario.

The spill was a result of an
April 20 explosion and fire
on the drilling rig Deepwater
Horizon, which killed 11
workers.

Since then, oil has gushed
into the Gulf of Mexico at
an estimated rate of 210,000
gallons per day as clean-up
crews scramble to contain it.





FRIDAY, MAY 7, 2010, PAGE 3

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Une your e-card bo naserve tckebs at SE+-3649 or visit us at
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To All The Mothers In
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PAGE 4, FRIDAY, MAY 7, 2010

THE TRIBUNE

The ‘noise’ about

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

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

New clashes in Greece over austerity cuts

ATHENS, Greece — Greek lawmakers
approved drastic austerity cuts Thursday
needed to secure international rescue loans
worth $140 billion and clashes briefly erupt-
ed in the streets outside parliament, forcing
police to use tear gas.

In New York, the Dow Jones industrials
plunged 1,000 points in less than half an
hour on fears that Greece's debt problems
could halt the global economic recovery.
The Dow managed to recover two-thirds of
its losses and close down 347 at 10,520.

There were reports that the sudden drop
was caused by a trader who mistyped an
order to sell a large block of stock. The drop
in that stock's price was enough to trigger
"sell" orders across the market.

Still, the Dow was already down more
than 200 points as traders watched protests
in the streets of Athens on TV.

The new clashes came a day after violent
protests left three people dead after a bank
was firebombed in Athens.

Greek lawmakers voted 172-121 to
approve the austerity measures — worth
about $38.18 billion through 2012 — that
will slash pensions and civil servants' pay
and further hike consumer taxes.

The rescue loans are aimed at containing
the debt crisis and keeping Greece's troubles
from spreading to other countries with vul-
nerable state finances such as Portugal and
Spain. The money will come from the Inter-
national Monetary Fund and the 15 other
governments whose countries use the euro.

Fears of Greek default have undermined
the euro, and while the current package
should keep Greece from immediate bank-
ruptcy, its long-term prospects are unclear.
The country's growth prospects are weak,
and the population's willingness to accept
cutbacks may wane, leading some econo-
mists to predict an eventual debt restruc-
turing somewhere down the road.

Opposition parties lambasted the gov-
ernment for imposing measures that are too
harsh for the population to bear.

"The dose of the medicine you are admin-
istering is in danger of killing the patient,"
conservative opposition leader Antonis
Samaras said.

Clashes in Athens broke out at the end of
a main protest that drew tens of thousands of
people as police pushed back a few thou-
sand demonstrators outside parliament.

The violence was quickly contained with
riot police firing tear gas at the protesters,
who had earlier pelted them with stones,
oranges and bottles. Several small fires
burned in surrounding streets. No injuries or
arrests were reported.

Demonstrators banging drums and shout-
ing anti-government slogans through bull-
horns, unfurled a giant black banner out-

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side parliament earlier Thursday. More than
30,000 demonstrators filled downtown
streets, chanting: "They declared war. Now
fight back."

Prime Minister George Papandreou
expelled three Socialist deputies who dis-
sented in the vote, reducing the party's num-
ber of seats to 157 in the 300-member par-
lament.

"We have done what was necessary, not
what was easy," Finance Minister George
Papaconstantinou said after the vote. "With-
out these measures, we'd be thrown into the
deepest recession this country has ever
known."

Samaras also expelled a dissenting law-
maker, former Foreign Minister Dora
Bakoyannis, reducing his share of parlia-
mentary seats to 90.

The bulk of Thursday's protest — organ-
ised by the Greek Communist Party —
quickly dispersed, leaving about 5,000
demonstrators outside parliament before
police pushed them back.

Protester Thodoris Mougiakos said he
was angry the IMF would control Greek
finances.

"It's blackmail," the 32-year-old engi-
neer said. "There is money, but they spend it
on things like armaments and businesses.
The church has money too. If we had been
drawing money from all these sources, we
wouldn't be in this situation now.”

But the protest remained peaceful, in
contrast with Wednesday's rioting that left
three people dead, 59 injured and 25 people
arrested. Police said 50 stores, banks and
offices were damaged and seven vehicles
damaged or burned.

Papaconstantinou said Greece would
default on debt payments this month unless
it received the bailout loans from the Inter-
national Monetary Fund and 15 euro-zone
countries that had remained divided for
months on how to aid Athens.

"Today things are simple. Either we vote
and implement the deal, or we condemn
Greece to bankruptcy," Papandreou told
parliament before the vote.

"Some people want that, and are specu-
lating (on it), and hope that it will happen,"
he said, referring to speculative attacks that
have been blamed for raising Greece's bor-
rowing costs to unsustainable levels. "We, I,
will not allow that. We will not allow specu-
lation against our country, and bankruptcy to
happen.”

European governments are now scram-
bling to get parliamentary approval for the
Greek loans. European leaders will meet
on the issue in Brussels today.

(This article was written by Elena Beca-
toros, an Associated Press writer).





moves to legalise
numbers business

EDITOR, The Tribune.

With the illegality of the
local numbers business
about to become legalised,
many are asking what is all
the noise about. We do not
know the exact numbers as
to who is for or against this
legalisation, but we know
that there is great support
with special interest groups,
even the government, who
see legalisation or regula-
tion as a good way to get
into the very large cash
flows associated with this
activity.

Regulation, may be a bet-
ter description of what is
going to happen, because it
is doubtful that the govern-
ment would allow Bahami-
ans to gamble at any of the
local tourist resorts. This
also brings up the possibility
of legal challenges, by
Bahamians who see the law
in its present form as a bar-
rier to them exercising their
full rights in their own
nation.

The “noise” in the reli-
gious community has a pre-
emptive purpose. Accord-
ing to the historical social
text, it is those who can least
afford to gamble will be
drawn into it, and when this
happens people who are
looking for “hope” will have
a bigger problem. Ultimate-
ly, it will be social entities
within the government and
Church sponsored pro-
grammes that will have to
fill the gap created by per-
sons who will suffer. The
phrase “everybody wins”
cannot be substantiated in
any context, if those who
can least afford to are pay-
ing. There is an underlying
problem that is not seen by
many. When this regulation
kicks in and the numbers
market expands, it can be
likened to the creation of
new financial instruments;
the underlying problem will
be that these entities will
have a basis that cannot be
quantified because they will
be based on human greed
and perceived opportunity.
Did the government and
those responsible do their
homework regarding this
issue? I am doubtful. Many
of our leaders are old
enough to remember how
the Race Track on Cable
Beach almost closed down
work in Nassau every Tues-
day and Friday, I even
remember one of my broth-
ers skipping school on cer-
tain days. I know that the
modern technology and con-
veniences will allow many

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LETTERS

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citizens to remain at work
and still indulge in what they
were doing previously
before legalisation/regula-
tion, and these persons are
among those who can
afford, but the government
will have to keep a close
account of how overall pro-
ductivity is affected as the
new era comes on stream. It
is also conceivable that there
will be a corresponding rise
in criminal activity, it is
being speculated that this
may cause the government
to rethink their decision.

The Prime Minister has
indicated that the decision
is yet to be made, and like
his mentor, “he knows his
people”, and he does not
need a crystal ball to see
what is ahead.

In 1992, his party achieved
victory because his former
party had left many things
undone and refused to fulfil
their own stated mandate of
moving the nation forward.
Instead they created a cli-
mate of fear and apprehen-
sion in which the question
of Bahamians having a work
ethic became an interna-
tional topic, but we showed
what we were able to do if
we wanted to. It is possible
that the legalisation/regula-
tion decision will create a
similar environment, in
which the work ethic of this
nation will come into ques-
tion again, but my primary
objection is more funda-
mental. In 1973, we estab-
lished a nation whose people
are on record as stating that
we will “have an abiding
respect for Christian val-
ues.” Even though the road
has been difficult we have
managed to keep a veneer
of that phrase in place, but if
we make the changes that
are being proposed, we
would have broken this

agreement since we are real-
ly stating in this amendment
or bill that we no longer rely
on a Sovereign God to meet
our needs. In effect we
would have broken the first
commandment and the God
that we claim to serve is no
longer obligated to protect a
chain of islands just above
sea level, out in the middle
of the Atlantic Ocean. Some
of us are of the opinion that
we have just been lucky over
the years, but I beg to differ.

EDWARD
HUTCHESON
Nassau,

May 2, 2010

PS: Some of us will still be
“lucky”, but I prefer to use
the words “blessed” or “for-
tunate”. Just yesterday (Sun-
day) a lady stopped by a
“web shop” to “put some-
thing down” and was in such
arush that she returned to a
locked vehicle. The keys
were in it, the windows were
up and there was a young
child trapped inside.
Onlookers were not suc-
cessful in trying to open the
vehicle and after a while it
was evident that the child
was going to have a prob-
lem. A policeman showed
up surveyed the scene and
smashed one of the win-
dows. The woman got very
noisy and upset about the
window being smashed.

Lucky child. Was she the
mother? Was it her vehicle?
I don’t know, but I do know
what she saw as being
important. “Woe unto you
who bring pain to one of
these little ones, in the name
of whatever......... ” (my
paraphrase). In the face of
what is going on in society,
and our pre-occupation with
stuff, one can accurately pre-
dict that our children and
those who are dependent
will become (more) expend-
able.

EDWARD
HUTCHESON

is Sir Arthur Foulkes the eighth

TULUM Cl UD STC Le

EDITOR, The Tribune.

BURTON HALL
The Hague,
The Netherlands.



The recent appointment of Sir Arthur Foulkes has revived
the question of the correct numerical references to holders
of that post. Whether he is the eighth or ninth is determined
by whether Sir John Paul, the last Royal Governor was sub-
stantively Governor General between 10 July 1973 and Sir
Milo Butler's assumption of office on 1 August.

T recall Sir Leonard Knowles, Chief Justice at the time,
having written that Sir John Paul was sworn in as the sub-
stantive holder of the post. However, some other sources
claim that he was only acting for that period.

It would be useful to learn what the official records reveal.

Thank you for your assistance.







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THE TRIBUNE



70 per cent of Bahamians
are ‘overweight or obese’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net



SIXTY per cent of the
population die from obesity
related chronic diseases, with
80 per cent of this number
attributed to persons living
in poverty, revealed Health
Minister Dr Hubert Minnis.

While giving his contribu-
tion to a resolution thank-
ing the Governor General
for his Speech from the
Throne in the House of
Assembly, Dr Minnis added
that 70 per cent of the
Bahamian population is
either overweight or obese,
an unhealthy lifestyle that
has become so prevalent that
some primary school stu-
dents have hypertension —
high blood pressure —
underscoring the need for
government intervention.

While not getting into
specifics the MP for Killar-
ney said a new Medical Act,
as promised in Sir Arthur
Foulkes’ April 14 Speech
from the Throne, will pro-
vide the foundation to help
Bahamians suffering from
such chronic diseases as dia-
betes and hypertension.

"In the Bahamas today, 60
per cent of our population
die from certain chronic non-
communicable diseases. But
when you look at those dis-
eases, 80 per cent of those
individuals who die belong
to the poor class. Should we
not do something to assist
that group or should we just
allow them to fall by the
wayside?

“As [reviewed certain
Statistics,” he said, “I was
more than shocked to find
out that individuals within
(the) sixth grade in the
Bahamas are suffering from
hypertension. The problem
that is causing it is because of
our obesity.

"Seventy per cent of our
population is either over-
weight or obese. Look at the
quality of life we will have

FRIDAY, MAY 7, 2010, PAGE 5

LOCAL NEWS

Health Minister tells MPs that 60 per cent of
population die from obesity-related diseases







“I was more than
shocked to find out
that individuals
within (the) sixth
grade in the Bahamas
are suffering from
hypertension.

The problem that is
causing it is because
of our obesity.”



sixth graders today are suf-
fering from hypertension, by
the time they reach 12th
grade or by the time they
reach 19, 20 we will have a
boom of individuals who are
suffering from strokes. Indi-
viduals 18, 19 needing renal
transplants, heart attacks,
etc, and therefore it is essen-
tial, this government recog-
nising that setting the foun-
dation to ensure that we
manage obesity, to ensure
that we manage hyperten-
sion."

In his contribution to the
debate, Blue Hills MP Sid-

for our young population if ney Collie told Parliament

Chinese jobs needed
to justify expenditure

NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



CARIBBEAN business mogul John Issa, executive chairman
of SuperClubs’ Breezes, said he understands why a large num-
ber of construction jobs at the Baha Mar development will go
to citizens of China, which is providing substantial funding for
the project.

He also expressed his confidence that the project will yield
many permanent jobs for Bahamians after the construction
phase is complete.

“How could the Chinese justify to their people that they
are investing all this money half way around the world without
ensuring the construction company is getting exposure and
work for the Chinese people?

“Otherwise, the Chinese people will tell their government to
build it on their beaches in China. I don’t see a problem with the
Chinese company and government wanting to create jobs,”
Mr Issasaid.

Economic experts say China is facing a labour surplus, so
their strategic investments abroad are an opportunity to create
jobs. The vast majority of the 4,920 work permits requested by
Baha Mar investors for the peak construction phase of the
project are for Chinese workers. There will also be more than
2,500 Bahamian construction workers on the job, and Baha Mar
officials say they will create 8,000 permanent positions.

SuperClubs Breezes Bahamas is one of the few major resorts
in the country with an all-Bahamian staff. There are 300 peo-
ple employed at Breezes, and Mr Issa emphasised that all of
them — including the eight executive team members and 13 man-
agers — are Bahamian.

Proud

“We are very proud of our record in terms of the Bahamian
executive team members and management team at Breezes
Bahamas. It is probably a unique case for a hotel of our size,”
said Mr Issa.

Jackson Weech, Breezes general manager, said: “From a
Bahamian perspective it is rather significant. There has been
over the years no shortage of questions about, a) Bahamians
being able to effectively manage, and b) being able to manage
at the highest level. Taking into consideration those points, I
think we have done something exceptional here.

“We have faced all the challenges the wider industry has
faced, the highs and lows, and in the main we have been able to
do a good job,” he said.

Breezes survived the economic downturn without having to
lay off workers or place them on rotation, unlike other resorts,
including the properties owned by Baha Mar. Mr Issa said this
was a result of “aggressive marketing and attractive pricing”.

Breezes sits on the edge of the Baha Mar development zone,
and the resort’s executives say they are looking forward to
the redevelopment of Cable Beach as it will enhance the
ambiance of the area and give New Providence a “great lift”.

Many Breezes guests make use of the Crystal Palace Casino,
owned by Baha Mar, and Mr Issa said they will benefit from the
planned expansion and upgrade.

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





that the promised package
of land reform Bills — a Land
Adjudication Bill, Law of
Property Act, Registered
Land Act and the Probate
of Estates Act — will simplify
land disputes and reduce
land fraud cases.

He also noted that
promised legislation to
amend the Parliamentary
Elections Act will overhaul
laws that allowed for the
"unholy fiasco" in the Par-
liamentary Registrar's
Department ahead of the
2007 national elections and
February's by-election.

Opposition MPs Philip
“Brave” Davis and Obie
Wilchcombe criticised Sir
Arthur's speech arguing that
it did not reflect current
social needs such as job cre-
ation or reducing the fear of
crime. Mr Davis, represen-
tative for Cat Island, Rum
Cay and San Salvador, also
chastised the Ingraham
administration for keeping
the public in the dark by not
explaining its reasons behind
its new legislative agenda
during the Speech from the
Throne arguing that most of
it rehashed unfulfilled
promises from 2007, when
the FNM assumed office for
its third non-consecutive
term.

ig
Us)
He ti
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PAGE 6, FRIDAY, MAY 7, 2010
LOCAL NEWS

THE TRIBUNE



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IN the final part of The Tribune’s look at
the life of street philosopher Potcake, Tri-
bune242 Editor Jessica Robertson
discovered how a hit song led to the
creation of a Bahamian legend. And don’t
forget, starting next Wednesday The Tri-
bune will bring you a weekly selection of
Potcake’s writings for your enjoyment and
contemplation. If you miss him on the
street, you'll find him right here in your

favourite newspaper.





AFTER his descent into and
drink drugs, Potcake cleaned him-
self up ... and took to driving
around an old beat-up white
truck.

It was around the time Phil
Stubbs came out with his hit song
Cry of the Potcake, and since he
loved the song, he put the words
“Potcake for Hire” on the back of
the truck.

It didn't take long for people
in the street to start calling him
Potcake and the name stuck. He
doesn't like telling people his real
name saying: "When they ask, I
tell them Potcake will do. You
call me Potcake and I'll answer
to that.”

His small time bush mechanic
gig came to an end when the cars
that had piled up in the yard as
customer after customer was
unable to pay for parts were
towed off to the dump by the gov-
ernment in the lead up to an elec-
tion.

But this street-savvy man saw
opportunity on the side of the
road.

"One day I start to notice hood
caps (sic) laying in the road. I say
boy they look good and shiny. So
I start picking them up," he
explains.

This was when the Harbour
Bay Shopping Centre was under
construction, Potcake used to line
them up on the curbside and wait
for people to come and buy them.

He realised the real value in
hubcap sales when the man who
was building the plaza asked ‘boy,
you ain't get my Rolls Royce hub-
cap there?’

Potcake assured him he didn't,
but promised to keep an eye out.
Amazingly, someone he knew
brought him a Rolls Royce hub-
cap not long after.

"T took that hood cap and I car-
ried it to Mosko's house. He
looked at it good and he give me
$200 for that hood cap."

His mobile store as he likes to
call his trolley, is laden with hub-
caps and he has a large collection
at home just in case someone's
looking for something unusual.

Some he buys, others people
he's never even met collect and
bring to him to add to his inven-
tory.

He won't accept or buy used
hubcaps from just anybody
though. "I don't like to buy no
hood caps from jonesers when
they bring them because I believe
they steal them,” he says with con-
viction.

On a good week he says he can
make between $200 and $300 sell-
ing his merchandise and the worse
the roads are, the better he makes
out.

He was probably the only per-
son not elated with the recent re-
paving exercise on Shirley Street.
The way he sees it, the more pot-
holes there are, people are more
likely to seek him out.

"T like when BEC and BaTel-
Co and water works dig up this
road. I could sit right there by the
big hole they dig up and just pick
up hood caps as cars pass because
they just keep dropping off," he
chuckles.

In fact, his route in large part, is
dictated by people's driving habits.

"You see, what happens is a lot
of people speed around Montagu
and drop their wheel covers in the
night. Many times when I walk
through Montagu, not only do I
get some sales, but I find a few
hood caps on the ground."

For the past eight years, Pot-
cake's mobile store has been
adorned with his deep thoughts
about every-and anything written
on pieces of cardboard. While the
first signs were written in ball-
point pen, a fan brought him thick
black and red markers one day





and the signature look was creat-
ed.

Potcake writes things that many
people wish they could say. He
writes what comes to mind -
sometimes offering commentary
on the hot news topic covered in
the day's Tribune newspaper, and
sometimes his writings are based
on things he sees, hears or expe-
riences as he makes his way along
his route which covers Montagu to
Church Street.

There's no topic he won't
broach even though he's fully
aware that some people get
offended by some of his signs.

"People whose feelings get
hurt, I think they hurt other peo-
ple feelings too. Sometimes you
need to mash some people's corns
who mash other people's corn to
show them how it feel,” he says.

He often posts negative mes-
sages aimed at black people. But
he insists "it's not discrimination,
if that's what you think."

"T put plenty signs about black
people. I does make them pay.
You see black people they hurt
my feelings so much. Black people
does work ya and don't pay ya
and send you crazy. A lot of black
people come buy my things and
they always short me. The white
people pay me and tip me. And
when they stop they smile at me
when they buying things. So I put
a sign say ‘thank God for the
white man. The white man put
food on my table"

Every once in a while, though,
he realises that a particular sign
has struck a nerve and he changes
it faster than usual, not necessar-
ily to save hurt feelings, but to
avoid any possible trouble for
himself.

Over the years, the often bare-
backed sunglass-wearing man
pulling a shopping trolley covered
with hubcaps and curious signs
has caught the attention of Hol-
lywood producers.

His old Potcake for Hire truck
was featured in the movie 'Flip-
per’, he was paid $2,000 to push
his trolley on the set of ‘After the
Sunset! starring former James
Bond actor Pierce Brosnan, and
most recently, he had a cameo
appearance in the Nassau install-
ment of the Ministry of Touris-
m's 14 Islands Film Challenge.

A few years ago, Bahamian
artist Blue Curry bought Pot-
cake’s original trolley and the hub
caps on it at the time, made a doc-
umentary that was featured in the
National Art Gallery of The
Bahamas.

People have blogged about
him, fan clubs have cropped up
on social networking sites and a
picture with Potcake or pushing
his trolley has become a must-
have souvenir for many tourists.

He had no idea when he
penned that first sign that his
thoughts would gain him such
notoriety, but enjoys the atten-
tion and little bit of power he
wields.

His most dedicated fans get
upset if he doesn't have some-
thing new posted on his trolley
each afternoon, and if you look
closely at some of his signs, you
realise he's hardly at a loss for
things to write. As he wanders the
streets each day, he scribbles sign
ideas on his pieces of cardboard,
many of them witty as ever, but
never written in black and red
marker and displayed for all to
see.

Potcake doesn't feel pressured
to keep doing what he does, but
enjoys coming up with things to
make people think and talk. As
long as people are reading, he
intends to keep on writing.

Don’t miss Potcake’s weekly
musings, starting next Wednes-
day only in your Tribune.

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


THE TRIBUNE FRIDAY, MAY 7, 2010, PAGE 7

LOCAL NEWS

Bahamian festivities climax with a Colours junkanoo performance at star-studded event

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i I i

PICTURED (left-right) VINCENT Vanderpool-Wallace, Minister of Tourism and Aviation; Jackie
Edwards, Bahamian long jumper; Eureka Glinton, Bahamas Film and Television commissioner manager
in Los Angeles; Rick Fox, former Los Angeles Laker and actor; Vernice Walkine, Tourism Director Gen-
eral, and Anita Johnson-Patty, general manager of communications with the Bahamas Tourist Office.

THE Bahamas relocated
to the US west coast for one
star-studded night to entice
high-profile Los Angeles
residents to travel to the
islands for vacations and
investments.

The Ministry of Tourism
and Aviation presented
“Bahamas in LA” at the
Beverly Hills home of music
and film producer Tracey
Edmonds.

More than 200 guests
attended the event which
was filled with Bahamian
treats and festivities, cli- mes a ®
maxing with a Colours ey AF ee
junkanoo performance. Sieh! BEF

Among the guests were ye eo
Bahamian athletes, includ- PICTURED: (left to right) VERNICE Walkine, Director General of the
ing actor and former NBA Bahamas Ministry of Tourism and Aviation; Vincent Vanderpool-
star Rick Fox and Olympic Wallace, Minister of the Bahamas Ministry of Tourism and Aviation;
long jumper Jackie US Ambassador to the Bahamas Nicole Avant, and film and TV pro-
Edwards. ducer Tracey Edmonds.





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They mingled with other
celebrities such as actors
Tyrese Gibson, Vivica A
Fox and Kenya Moore.

Nicole Avant, United
States Ambassador to the
Bahamas, was honoured as
the special guest of the
event. “Bahamas in LA
brought the flavour of the
Bahama islands to some of
the influential people in
entertainment in Los Ange-
les,” said Anita Johnson-
Patty, general manager for
offshore communications in
the Ministry of Tourism and

Aviation. “This especially
focused on African Ameri-
can entertainment, which is
important because the
African American travel
market is estimated to be
worth $4 billion annually.”

Ministry of Tourism offi-
cials also drew guests’ atten-
tion to the many film mak-
ing opportunities available
in the Bahamas. Most
recently, a large portion of
Tyler Perry’s ‘Why Did I
Get Married Too’ was
filmed on location in
Eleuthera.

Ms Johnson-Patty said the
Bahamas in LA event whet-

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PAGE 8, FRIDAY, MAY 7, 2010

LOCAL NEWS

Deputy PM leads the Bahamas’
delegation to Caribbean conference

By BAHAMAS
INFORMATION
SERVICES

THE ongoing topics of a
earthquake-stricken Haiti,
climate change and the shift-
ing geopolitical dynamics in
the Hemisphere were on the
agenda for the 13th Regu-
lar Meeting of the Council
for Foreign and Community
Relations (COFCOR) of
the Caribbean Community
in Roseau, Dominica, this
week.

Deputy Prime Minister

and Minister of Foreign
Affairs Brent Symonette led
the Bahamas delegation to
the two-day conference
which began on Wednesday.
He was accompanied by
Eugene Torchon-Newry,
first assistant secretary in the
Ministry of Foreign Affairs.
This annual meeting of
the Council brings together
community foreign ministers
to review and address cur-
rent issues of import to the
region. The current chair of
COFCOR is Dominica.
Senior officials of CARI-

COM member states met in
preparatory sessions at the
headquarters of the Secre-
tariat in Georgetown,
Guyana, on April 8-9 to
review the agenda to be con-
sidered by the Foreign Min-
isters in Dominica.

Earthquake

Salient among the items
are: CARICOM’s response
to the catastrophic Haitian
earthquake; the changing
geopolitical dynamics in the
Hemisphere; climate

change; CARICOM’s role
in other hemispheric and
international organisations,
for example the United
Nations, the Organisation of
American States, and the
Association of Caribbean
States; CARICOM’s rela-
tions with other regions and
countries, and the roles of
Caribbean parliamentarians
and civil society in the
Caribbean Community.
With respect to Haiti, the
foreign ministers will follow
up developments since the
establishment of the Interim

Haiti Reconstruction Com-
mittee and the launch of the
Action Plan for the Recon-
struction and National
Development of Haiti.

The dialogue on the
geopolitical dynamics will
address a broad range of
issues confronting the region
and will review the recom-
mendations of the Unity
Summit of the Heads of
State and Government of
Latin American and
Caribbean countries, which
met in February 2010 in
Cancun Mexico

THE TRIBUNE







ety
BRENT SYMONETTE



With respect to the issue
of climate change, foreign
ministers will review the out-
come of the 15th meeting of
Conference of the Parties of
the United Nations Frame-
work Convention on Cli-
mate Change held in Copen-
hagen, Denmark, in Decem-

ber 2009 and preparations

PM says collaborative effort needed
to restore Bahamian value system

THREE decades of “rapid mod-
ernisation” has distorted so much of
the Bahamian value system that it will
take a collaborative effort involving
government, church and community
organisations to restore them, Prime
Minister Hubert Ingraham said.

Mr Ingraham said the result of this
erosion of traditions has been an
increase in crime and most alarming-
ly, rising domestic violence which con-
tinues to mar the country’s social
landscape.

Addressing members and patrons
attending the first annual Most Wor-
shipful Prince Hall Grand Lodge
White Tie Gala Ball recently, Prime
Minister Ingraham said:

“There is an urgent need for all the
various social partners — government,
the church and community associa-
tions, including fraternal organisa-
tions — to collaborate in addressing
these challenges, independently and
together, acting so as to meet the
needs of the most vulnerable and
needy in the community.”

“Many of our young people, par-
ticularly our young men, are in need
of wholesome direction and guidance.
Some feel overwhelmed and could
benefit from learning better coping

skills and improving their
communication skills so
that disagreements are
not so easily escalated
into violence,” Mr Ingra-
ham added.

The Prime Minister
said he has always had a
special admiration “for
those Bahamians who
spend so much time and
effort in the work and
witness of Freemasonry”
in the Bahamas.

He said Freemasonry,
in addition to building
character in men, by
extension, helps to build
the moral and spiritual
character of the wider
community.

Mr Ingraham said that unlike in
earlier times, many young people are
not the beneficiaries of a stable home
life in which two parents, or other
supportive family members, are com-
mitted to their upbringing, and where
discipline and instruction for life are
easily available.

The Prime Minister encouraged
members of the Prince Hall Masonic
Order to continue to increase their

THE GARDENS

Math INGRAHAM



activities within the vari-
ous communities “so that
we may together begin to
correct the social anom-
alies threatening our
communities today.”

“Lodges have played a
significant role in the
lives of thousands of
Bahamians all over our
islands,” Mr Ingraham
said. “Like our churches,
lodges and friendly soci-
eties have served both to
bind people together and
as instruments of com-
munity among people.

“The Masonic Order,
in particular, based on
fundamental Christian
principles, has promoted
severe discipline amongst its mem-
bers, the great majority of whom I
am told, attempt in their ordinary,
daily lives to practice high morality
and spiritual principles.

“T encourage you to review your
agenda and programmes so as to
include an even stronger stand in sup-
port of our young people,” Mr Ingra-
ham added.

The Gala White Tie Ball was held

at the Wyndham Nassau Resort to
honour the contributions to Bahami-
an society of three of the country’s
nation-builders and sons — Arthur
Hanna and Sir Clifford Darling (both
former Governors-General) and Sir
Clement Maynard, a former Deputy
Prime Minister who held several min-
isterial posts.

Lady Zoe Maynard received the
plaque on behalf of her late husband
who was honored posthumously,
while Rev Dr C B Moss received the
plaque on behalf of Sir Clifford Dar-
ling.

Mr Hanna and Sir Clement both
received the highest honorary award
conferred by the Prince Hall Grand
Lodge, Past Grand Master status,
while Sir Clifford received the highest
honorary award that can be conferred
by a Lodge — Past Master.

All three were active members of
Prince Hall Lodges before duty to
country called them to serve the
Bahamas.

“These three men represent some
of the best of the Bahamas and it is
most appropriate that they are being
held up as role models for the gener-
ations of Bahamians who follow
them,” Mr Ingraham said.

for COP-16 to be held in
Cancun, Mexico, in Decem-
ber 2010.

Piracy

The Bahamas proposed
several items for the consid-
eration of the meeting,
including Maritime piracy,
in light of the acts of piracy
perpetrated against mar-
itime shipping and the
importance of this matter to
the Bahamas Maritime Reg-
istry as well as Global Mar-
itime interests; and the scale
of assessment for United
Nations Peacekeeping
Operations (PKO), which
must find a formula that is
fair and equitable and must
take into account a member
state‘s vulnerability and
capacity to pay.

An important feature of
the meeting will be a retreat
of foreign ministers during
which they will review the
rules of procedure and func-
tioning of the COFCOR
itself, with a view to improv-
ing its efficiency and effec-
tiveness, as well as to deter-
mine the strategic direction
of the region’s foreign policy
in the face of global chal-
lenges and opportunities.

NURSERY

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perro CME AAPA Mam UIT Con To)

infectious good cheer lives on in a worldwide family of friends
and relatives who think fondly of him often and are reminded

to live life to the full.

Everyone has his or her own memories of Hywel, For me Hywel
comes to mind at the most random of times - during 6 Nations
rugby internationals, whenever Marshall Crenshaw comes on

the radio, at the mention of anything to do with Jamaica.

Others remember his laugh or his exuberant greeting whenever
he entered the room. Those of us who continue co frequent his
old haunts still Fere=| his Prscnoe and derive ger eaat comfort and
Z : joy from it.

WEIN AI COP ETI mee HN
Tel: 242-326-3401 - 12 St. Albans Drive, Nassau

(Opposite Premier Importers)

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We all miss you!

Ultvd Jones & Friends.




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Notice is hereby given that the Thirtieth (30th)
Annual General Meeting of THE PUBLIC
WORKERS’ CO-OPERATIVE CREDIT UNION
LIMITED, will be held at the British Colonial
Hilton Hotel, Bay Street, on Friday, May 21,
2010, commencing at 6:30 p.m. for the following
purposes:

* To receive the report of The Board of
Directors.
* To receive the Audited Report for 2009

* To elect members of The Board of Directors,
Supervisory Committee and Credit Committee

* To discuss and approve the budget for 2011

All eligible members, wishing to run for a
position on the Board of Directors, Supervisory
Committee or Credit Committee, are asked to
submit their names to the Credit Union’s Offices
in Nassau or Freeport, no later than Monday,
May 17th, 2010, by 4 p.m.

ALL MEMBERS ARE URGED TO ATTEND

REFRESHMENTS WILL BE SERVED!



ATLANTIS

PARADISE. ISLANDn

PAGE 12, FRIDAY, MAY 7, 2010

THE TRIBUNE



LOCAL NEWS



Sir Stafford Sands on
$10 debate rages on

FROM page one

the Bahamas.

One caller, identified as Eric said that
Sir Stafford should not have been taken
off the $10 bill in the first place by the
PLP as he did more for the Bahamas in
tourism than any other one person.

Another caller said that he did not
see why the debate is continuing to be
waged as Sir Stafford clearly had done
much for the Bahamas.

Early in the week, opposition
spokesman for Foreign Affairs, Fred
Mitchell condemned the FNM’s deci-
sion to return the image of Sir Stafford
to the $10 bill after it has been taken
off during the PLP administration.

Although generally recognised as the
“principal architect” of the modern
Bahamas economy, Mr Mitchell said
that if the PLP were to regain the gov-
ernment in 2012, this decision would be
one that would be reversed once again.

“T think it’s an inappropriate tempting
of fate in the face of the earlier dispute,

and my position is the same; he should
not be on the $10 bill, and that it should
be removed if there is an opportunity
for the PLP to do so at some future
point,” the Fox Hill MP said.

However, another caller on Issues of
the Day said that if persons have con-
tributed to the building of the nation —
post 1973 — they should be the ones
who are considered for being placed on
the nation’s currency.

“Now as far as it pertains to Sir
Stafford and his legacy to the entire
Bahamas, his contribution is massive.
So if they want to erect a bust of him
over at the Treasury Department, the
Central Bank, or the Ministry of
Tourism, or whatever other areas where
he played a significant role; name build-
ings after him,” he said.

Another caller, identified as Pauper
said that Bahamians need to mature and
understand that while Sir Stafford was
not a perfect man, he, like Sir Lynden
Pindling, had made a tremendous con-
tribution to the Bahamas and should be

honoured as such.

“T think we need to grow up and be
politically more mature. I don’t know
the reason, Krissy, like you said why
they took him off the bill. I didn’t have a
problem when they put him on it. See.
Krissy, I understand this to be us cele-
brating the good about Sir Stafford
Sands.

“Sir Stafford Sands wasn’t perfect. Sir
Lynden wasn’t perfect, but he is still on
the dollar bill.

“So let’s celebrate, grow up and be
mature.

“Don’t worry about all the bad things
that Sir Stafford Sands did, and how the
majority of us might be black and some
of them was white. Let’s think about the
good that Sir Stafford do and the good
what Sir Lynden do. That is why we put
them there,” he said.

The well-known caller continued to
plead for Bahamians to move away from
the black and white issue as the racism
“baggage” needs to be dropped so that
the populace can be “mentally freed.”

‘My son is going
to hang himself’

FROM page one

“Then we found the life-
less body of a young man
about 6ft tall, 180lbs, wear-
ing a grey T-shirt and
beige trousers, lying on the
ground with a rope near-
by.”
Members of the commu-
nity flocked to the grave-
yard, crying in disbelief, at
the loss of the young man.

“It wasn’t supposed to
be like that, he wasn’t sup-

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posed to go like that,”
cried Ms Etienne.

“His brother just came
to him and cried; he would
not let him go.”

The young man’s mother
was too distraught to
speak to the press yester-
day morning.

ASP Wilson said she
told police her son had
been a patient at Sandi-
lands Rehabilitation Cen-
tre and wanted police to
take him there.

But neighbours were

unaware he had any psy-
chological issues and say
he seemed well when
socialising with them ear-
lier yesterday morning.

“He was a friendly per-
son, everybody knew him,”
a local man said.

“This is a real shock to
the community.”

ASP Wilson said the
death would not be classi-
fied until the investigation
is complete, and an autop-
sy has determined the
cause of his death.

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THE TRIBUNE PAGE 13

Spor



ts

FRIDAY, MAY 7, 2010

INSIDE ¢ Pauline to get her gold — finally





SHIRE)
SETIEUIL

Nassau ‘Nastic’s Savannah
Brady makes history as
youngest Bahamian to win all
around gymnastics award







SPORTING HISTORY: Savannah Brady



BY ARTHIA NIXON,
The Ambassador Agency



Jupiter, Florida... At an age when most children
are caught up watching Spongebob Squarepants or
struggling with third grade lessons, Savannah Brady
has been busy on sealing her name in Bahamian sports
history by becoming the youngest gymnast from her
country to win an all around award at a tournament —
and she’s done it at the ripe old age of eight!

Brady, who has trained with Coach Lavette Saun-
ders for nearly three years has proven that Nassau
‘Nastics is pushing out some potential Olympians by
beating athletes much older than her during the two-
day CATS Beach Blast Tournament in Jupiter, Florida
last week.

“T don’t feel any pressure,” said Brady when asked
if she is overwhelmed by putting her nation on the map
in gymnastics. “I tried my best and gave it my all and
so now I have to work even harder.”

Working hard is something Brady will have to
continue doing especially now that she has moved up
from Level 4 to Level 5. She admits that her favorite
event is the balance beam and that she struggles some-
times on her least favorite event, the bars.

At the CATS tournament, Brady got first place on
vault and floor. She got second place on the beam and
third place on the bars.

“Savannah has certainly made Nassau ‘Nastics
proud,” said Head Coach Trevor Ramsey. “There are
so many doors open for gymnasts including scholar-
ships. Savannah has already attended the International
Gymnastics Camp in the Poconos, Pennsylvania. She
has the drive and dedication and certainly the potential
to make it to the Olympics. She certainly has the tro-
phies and medals to attest to efforts in the sport.”
Despite the winning the highest honor at the CATS
Beach Blast, Brady’s promise from her mother
Michelle is what she considers her more valued prize.

“Based on her training sessions at Nassau ‘Nastics
in Oakes Field I had a feeling that she was going to
outperform herself and we agreed that I would get her

SEE page 14







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Myron Rolle
negins NFL stint

Starts orientation practices with the Tennessee Titans

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

With minicamps for rook-
ies underway around the
National Football League,
the league's newest recruits
shift from training, combine
and draft mode, back to
football.

Myron Rolle officially
began his stint into the NFL
and professional football
when he began orientation
practices with the Tennessee
Titans last weekend in
Nashville, Tennessee.

Each member of the
Titans’ rookie class, which
included 24 players in all,
and nine draft picks, went
on an early season introduc-
tion to the team’s training
facility in MetroCenter.

They also had an oppor-
tunity to meet with their
respective position coaches,
got fitted for helmets and
shoulder pads, underwent
physicals and went through
a host of other administra-
tive requirements to become
official members of the
Titans.

The two-day orientation
also included meetings on
team policies and proce-
dures, workouts, went
through the teams’most
basic aspects of its play-
books in the classroom and
practiced together for the
first time as professional
football players.

Rolle took the field with
the Titans’ nine draft picks
and 14 other undrafted
rookies as part of the team's
orientation.

The 2010 rookie class is
filled with big name players
such as defensive end Der-
rick Morgan, the 16th pick
overall, LaGarette Blount,
the controversial former
Oregon running back who
was suspended eight games
for punching an opposing
player and went and
undrafted, and Southern
California running back Sta-
fon Johnson, who also went
undrafted after his larynx
was crushed last year in a
weightlifting accident.

Rolle’s decision to leave
football for a year to pursue
his Rhodes Scholarship in
England was heavily scruti-
nized by analysts, scouts and
coaches across the country,
however, Rolle was granted
an opportunity to prove crit-
ics wrong when the Titans
made the selection with the
207th pick.

Rolle was one of the
Titans’ six defensive selec-
tions in the 2010 draft, and
one of nine in total.

Rolle will join a secondary
which includes former Pro
Bowlers Michael Griffin and
Courtland Finnegan and a
defense which ranked 28th
in the league last season.

Other members of the
draft class includes wide
receiver Damian Williams,
linebacker Rennie Curran,
cornerback Alterraun Vern-
er, safety Robert Johnson,
quarterback Rusty Smith,
wide receiver Marc Mariani,
and defensive tackle David
Howard.

SEE page 14









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(AP Photo/Jeff Roberson)
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PAGE 14, FRIDAY, MAY 7, 2010

SPORTS

BAAA | Bahamas Bodybuilding and Fitness
Federation to begin 2010 season

24th Annual BBFF Novice Championships scheduled for May 22

turns 58

On Wednesday, May
oth, the Bahamas Associa-
tion of Athletic Associa-
tions (BAAA) turned fifty-
eight years of age.

On May 6th, 1952 a
group of men met at the
office of Alfred Francis
Adderley. In addition to
Adderley, who was elected
president, the men includ-
ed were;

Cecil. V. Bethel, Gerald
Cash, Edwin Davies, Regi-
nald Farrington, Randol
Fawkes, Joseph Garfunkle,
Kendal Isaacs, Edward
Mitchell, Fred Moultrie,
Cyril Richardson, and
Reginald John Robertson.

One day later, May 7th,
1952, the Bahamas
Olympic Association was
formed.

Requirement

It pays to note that there
was a Bahamas Athletic
Association in 1952 but in
order to satisfy the IOC
requirement for National
Olympic Committees, it
was necessary to have
national amateur federa-
tions associated to their
international governing
bodies.

The BAAA was one of
those federations and
became associated with the
International Amateur
Athletic Association.

With several other feder-
ations thee BOA became
affiliated with the Interna-
tional Olympic Committee
(lOc).

Winning its first interna-
tional medal in 1987 at the
IAAF World Indoor
Championships with Frank
Rutherford’s Bronze
medal in the Triple Jump,
the Bahamas has won
medals in every IAAF
competition it has partici-
pated in.

The current president is
Mike Sands.

Myron Rolle
hegins NFL stint




h fF Ft
A NOVEMBER 1, 2009, FILE
PHOTO of the Tennessee Titans

in action against Jacksonville
Jaguars.

FROM page 13

Rolle was the 16th safety
selected and second for the
Titans after they took John-
son in the fifth round.

Rolle is the second player
of Bahamian descent to suit
up for the Titans after dis-
tant cousin Samari Rolle
spent the bulk of his career
with the franchise.

NURSE tL

FROM page 13

an iTouch if she did well,”
said Ms. Brady. “So I went
ahead and got the iTouch
based on how well she was
practicing. When the
scores came in and then
the All Around Award,
she came running and
reminded me that I
promised her the iTouch. I
reached in my pocket and
told her I knew she was
going to do well. The look
on her face was just classic.
Iam so proud of her
because she worked hard
and she truly deserved it.”

“T was so surprised when
she gave it to me,” recalled
Brady. “I was so happy and
excited and I thought I was
going to cry. But I have to
thank my mom because
she comes on the floor to
support me and my coach-
es too for encouraging me
to work hard. Like I was a
little scared of the competi-
tion on this trip and
thought I was going to lose
or something like that, but
Iam glad they all keep
pushing me to try my
best.”

Brady’s next tournament
is set for October.

The Bahamas Bodybuilding and Fitness Fed-
eration will begin its 2010 season with its 24th
Annual BBFF Novice Championships.

Scheduled for May 22 at the National Centre
for the Performing Arts it will feature about 15-
20 competitors in men's bodybuilding, women's
bodybuilding, and fitness.

The event serves as a showcase to the sport’s
newcomers and gives the federation a sound
impression of its future stars.

In men's bodybuilding, athletes will be placed
into several categories including lightweight, wel-
terweight, middleweight, light heavyweight and
heavyweight, whereas, women will have light-
weight and heavyweight divisions.

Aside from weight classes, height will also play
a factor in the body fitness category. The A cat-



egory will feature competitors up to 5'3"and B for
those taller than 5'3".

The Novice Championships also provides an
opportunity for the federation to showcase its
junior program — entrants under the age of 21.

Registration

Registration begins, May 8th at Mystical Fitness
Gym in Palmdale at 1pm.

Weigh-ins in all divisions will take place May
21st at Mystical Fitness Gym at 6pm.

The second event on the BBFF will be the
Grand Bahama Bodybuilding Association Body-
building and Fitness Championships, June 26th.

The 37th Annual BBFF National Champi-

THE TRIBUNE

onships takes place July 3rd in the capital.

The Federation hopes to build upon an influ-
ential 2009 Novice Championships where new
buddig stars in the sport were crowned.

Delroy Dennis was named men's overall cham-
pion and was the sole competitor in the mid-
dleweight division while Donna Williams won
the women's overall crown.

Dawnitta Fry won the overall fitness title along
with the Body Fitness 'D' division.

The High School body fitness title was claimed
by Deangela Johnson, Body Fitness ‘A’ -
Shenique Hanna, Body Fitness 'B' - Angelique
Williamson, Fitness Tall - Alexandra Deal.

Other divisional winners included Ashwood
Turnquest in the men's lightweight and heavy-
weight division by Philmore Poitier.

Ga TE TC LS UTS eC ee tT

Pauline
tH OU
Wael |
her gold
Hair)











The decision by the Inter-
national Olympic Committee
to strip Marion Jones of her
Olympic Gold Medal (due to
doping) meant that the
Bahamas’ own “Golden Girl”,
Pauline Davis-Thompson,
became the Olympic Gold
Medal Winner of the 200-metre
sprint in the 2000 Olympic
Games in Sydney, Australia.

In a joint effort, the
Bahamas Olympic Committee
and the Bahamas Ministry of a
Youth, Sports & Culture, sup-
ported by the Ministry of
Tourism & Aviation, are plan-

2
i

PAULINE DAVIS-THOMPSON pictured hugging Debbie Ferguson.



I.

ning a “Gold Medal Presenta-
tion Ceremony” at Govern-
ment House on June 10th 2010
for Pauline to finally receive
her medal from the Interna-
tional Olympic Committee in
the presence of the Hubert A.
Ingraham, Prime Minister, her
family & friends, senior gov-
ernment leaders, her fellow
IAAF Board Members,
numerous well wishers and
heads of sports federations -
under the auspices of Sir
Arthur A. Foulkes, Governor-



General of The Common-
wealth of The Bahamas. Stat-
ed Charles Maynard, Minister
of Youth, Sports & Culture,
“Pauline’s numerous achieve-
ments culminating in her Gold
Medal have touched each and
every Bahamian in a special
way.

Therefore, this event and the
events leading up to it are
intended to be a fitting tribute
by a grateful nation.”

The following events are
(tentatively) planned:

Monday, 31st May, 2010 —

Wednesday, 2nd June, 2010 —



Press Conference to announce
the event to the public, Hon.
Charles Maynard, Minister of
Youth, Sports & Culture
(MOYS&C), MOYS&C Con-
ference Room.

Tuesday, Ist June, 2010 —
Pauline visits Abaco (9:00 a.m.

— 11:30 a.m.) and Grand
Bahama Island (1:00 p.m. -
5:00 p.m.) — special assemblies
with school children

Pauline visits Long Island
(9:00 a.m. — 11:30 a.m.) and
Exuma (1:00 p.m. — 5:00 p.m.)
— special assemblies with
school children

Thursday, 3rd June, 2010 —
Pauline visits Andros (9:00

a.m. — 11:30 a.m.) and
Eleuthera (1:00 p.m. — 5:00
p.m.) — special assemblies
with school children

Thursday, 10th June, 2010 —

School Assembly/Rally,
Kendal G.L. Isaacs Gym
(11:00 a.m. — 1:00 p.m.), pre-
sentation to most outstanding
student-athletes

Thursday, 10th June, 2010 —
“Gold Medal Presentation”

at Government House (Live
T.V./Radio Coverage)
Reading of Proclamation
Gold Medal Presentation to
Pauline by IOC

Remarks & Response
Reception





Argentina defeat

Haiti 4-0 in friendly



BUENOS AIRES, Argentina

ARGENTINA’S
coach Diego
Maradona, right,
looks on prior to
a friendly soccer
game against
Haiti in Cutral
Co, southern
Argentina,
Wednesday,
May 5, 2010.



Argentina easily defeated Haiti 4-0 in an international friendly
Wednesday, one of the last warm-ups for the South Americans
before they head to the World Cup in South Africa, according to

Associated Press.

Argentina played without its Europe-based stars, with coach
Diego Maradona taking a look at local players who may make his

23-man squad.

Boca Juniors’ Martin Palermo, the club's all-time leading scor-
er, helped his chances with a goal. Facundo Bertoglio scored two
and Sebastian Blanco added the other.

Many of the Haitian players lost loved ones in the devastating
earthquake on Jan. 12. The highlight for many of the team
appeared to have been lining up at halftime to snap a photo with

Maradona.

Palermo is looking to force a place in the World Cup squad,
which includes top Europe-based strikers Lionel Messi (Barcelona),
Gonzalo Higuain (Real Madrid) and Diego Milito (Inter Milan).

Two-time champion Argentina opens its World Cup campaign
on June 12 against Nigeria in Group B, which also includes South
Korea and Greece. The top two teams in each group advance to the

final 16 knockout stage.

Lineups:

ARGENTINA — Diego Pozo, Ariel Garce, Paolo Goltz, Juan
Insaurralde, Cristian Villagra, Patricio Toranzo, Juan Mercier,
Sebastian Blanco, Facundo Bertoglio, Ariel Ortega, Martin Paler-

mo.

HAITI — Jean Zephirin, Pierre Richard, Paulin Jean, Vaniel
Sirin, Jerome Mechack, Jean Marc Alexander, James Marcelin,
Kenell Pierre Louis, Frantz Gilles, Angelot Dieujuste, Fritzon

Jean-Baptiste.



(AP Photo/Fotobaires)

ARGENTINA’S MARTIN PALERMO, right, celebrates with teammate Ariel Garce after scoring during
a friendly soccer game against Haiti in Cutral Co, southern Argentina, Wednesday, May 5, 2010.
PAGE 16, FRIDAY, MAY 7, 2010

LOCAL NEWS

THE TRIBUNE



FROM page one

him.

Bastian had been charged with three counts
of armed robbery, one count of rape, one
count of kidnapping and two counts of receiv-
ing. The jury found him not guilty on the first
two counts of armed robbery by a unanimous
decision and not guilty on the third count by
a vote of six to three. The jury was unani-
mous in its not guilty verdict on the rape
charge and found Bastian not guilty by a
count of six to three on the kidnapping charge
and the first count of receiving. The jury was
also unanimous in its decision on the second
receiving charge.

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One of two escapees

Bastian and Ricardo Knowles, 22, were
accused of accosting a couple at gunpoint in
September 2008. Prosecutors had also alleged
that the men had forced the woman's
boyfriend, who was robbed, into the trunk
of his car, placed the woman in the back seat
of the vehicle and later raped her.

The pair reportedly made their escape from
Central Police Station during a bathroom
break around 3am Tuesday.

Knowles was shot by police as he attempt-
ed to evade them in the Kemp Road area. He
was pronounced dead at the Princess Mar-

garet Hospital at 11.44am Tuesday. Bastian
was apprehended a short time later at Potter's
Cay dock.

Senior Justice Jon Isaacs, who presided
over the trial, told Bastian after the verdicts
were handed down that he should consider
himself “fortunate.”

Bastian, who was represented by attorney
Willie Moss, was escorted back to the Central
Police Station after the decisions were hand-
ed down.

The Tribune understands he will remain
in custody as he has other matters pending
before the courts.

Police have not yet charged him in con-
nection with Tuesday’s alleged escape.

WINDOWS

MP calls for laws

FROM page one

official 2007 Hansard quoted Mr Ingra-
ham as confirming the Free National
Movement received contributions from
the Grand Bahama Port Authority, to
the tune of the same amount received by
the Progressive Liberal Party. It also
quoted Mr Ingraham as saying the FNM
received money from Sir Jack, although
he was unaware if the PLP received the
same.

Mr Sears brought up the 1984 Royal
Commission of Inquiry which investigat-
ed allegations against then Prime Minis-
ter, Sir Lynden Pindling.

Archbishop Drexel Gomez, who was
one of the Commissioners, issued a
minority report that spoke about the $3.5 million in the personal
bank account of Sir Lynden that was accounted for in such a way
that it did not remove all doubt that it might have been tied to
unsavoury transactions.

Some of the funds were said to come from contributions by
foreign business executives, loans, and mortgages.

Archbishop Gomez concluded that “none of the known sources
of funds... appear to have been drug-related.”

However, he also said: “The circumstances raise great suspicions,
and it is impossible to say that the payments were all non drug-relat-
ed.”

Mr Sears said he did not want the political process in the
Bahamas to be “suspect internationally” based on the practice of
politicians receiving secret contributions from foreign entities.

He also referred to the 1967 Bahamas Commission of Inquiry
that was formed to investigate payoffs by Freeport casino interests
to Bahamian government officials.

In that commission, Sir Stafford Sands was implicated. The
inquiry found Sir Stafford received more than $1.8 million in con-
sultancy fees from the Grand Bahama Port Authority between 1962
and 1966 at the time he was Minister of Finance and Minister of
Tourism with the former United Bahamian Party (UBP).

Mr Sears said the inquiry found Sir Stafford made certain
exemptions to casino operators that favoured business interests. In
1963, a foreign casino operator was granted exemption, allowing it
to operate in Grand Bahama based on certain minimum conditions.
The license fee charged by the Ministry of Finance was said to be
significantly lower than neighbouring countries.

Alfred Sears ‘received no money’



ALFRED SEARS

FROM page one referred to comments made by

Prime Minister Hubert Ingra-
ham on the House floor on a
previous occasion that implied
that Knowles may have funded
certain politicians.

According to Mr Sears, the
official 2007 Hansard quoted
Mr Ingraham as confirming the
Free National Movement

in the House of Assembly yes-
terday that he was prepared to
disclose financial contributions
to his political affairs.

He also called for legal
reform, requiring politicians
and political parties to disclose
financial contributions from for-

received contributions from the
Grand Bahama Port Authority,
to the tune of the same amount
received by the Progressive
Liberal Party. It also quoted
Mr Ingraham declaring he
received no money from
Knowles.

eign entities.

“T am prepared to disclose,
but let us do it in a way
Bahamians can be proud,” said
Mr Sears.

Mr Sears said some people
were engaged in “salacious
rumour mongering.” He

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THE TRIBUNE



FRIDAY,

SECTION B « business@tribunemedia.net

Telecoms ‘ripe’

for more taxes



By NEIL HARTNELL
Tribune Business Editor

Telecommunications is an
industry “ripe” for increased
taxation, a former Chamber of
Commerce president yesterday
urging the Government to
“come up with innovative
ways” to raise revenue by
increasing fees on industries
that paid “negligible taxes”,
such as banks/trust companies
and the numbers business.

Suggesting that the Govern-
ment impose a 1-2 per cent tax
on making/receiving telephone
calls, which is effectively a
Bahamian national pasttime,
Dionisio D’ Aguilar said that if
the Ingraham administration
sought to raise revenues in its
2010-2011 Budget, it needed to
look at fee increases that had
the “least effect on the average
person in the street”.

Urging the Government to
“come up with innovative ways
to raise additional revenues”,
Mr D’Aguilar, who is also
Superwash’s president, told Tri-
bune Business: “There are sec-
tors of our economy that pay
negligible taxes. Telecoms,
that’s a ripe one. Everyone pays

* Ex-Chamber chief urges
government to focus on
‘undertaxed’ industries
and be ‘innovative’,
imposing taxes on phone
calls and focusing
on the likes of banks

* Says 2010-2011 Budget
must focus on taxes that
are easily to collect and
have least impact on
‘average man in the street’

* Urges government to
‘tackle generous and
lucrative’ public sector
pensions and benefits

a tax on their incoming calls.
That’s a totally undertaxed sec-
tor.”

Mr D’ Aguilar said such tele-
coms taxes were already levied
in many other countries, and
said a 1-2 per cent tax on tele-
phone calls was “negligible to

SEE page 4B

‘What a tangled web!’

By NEIL HARTNELL
Tribune Business Editor

KERZNER International
told the Water & Sewerage
Corporation that it was “bet-
ter to blush once now rather
than twice later” over whether
it would be able to deliver the
water supply pledged as part of
the $1 billion Phase III Heads
of Agreement, a review of the
latter’s efforts branding its
negotiations with the Atlantis
and One & Only Ocean Club
owner as “poor and ineffec-
tive”.

A huge bundle of documents
detailing the bungled Arawak
Cay reverse osmosis plant saga,
which played out under the for-
mer Christie administration in
2005-2006, reveals the Paradise
Island resort developer’s
increasing concerns that the
Water & Sewerage Corpora-
tion would be unable to deliver
on its contractual obligations
as a result of in-fighting
between the Board and man-
agement.

A January 13, 2006, e-mail
from Kerzner executive
Richard Watkins to then-min-
ister of works, Bradley Roberts,
laid out the developers con-
cerns thus: “This, as we at
Kerzner have always stated, is a

* Kerzner told Water Corp
‘better to blush once now
rather than twice later’
over Arawak Cay reverse
osmosis plant
ultimately shelved

* Corporation committed
to supplying Kerzner
with water inside 13
months, although plant
would take longer to build

* Perpall Tract location,
which government now
considering, would have
cost $10m more to build
over life of contract

one-time, ‘no fail’ opportunity
for Water & Sewerage Corpo-
ration to supply potable water
to Paradise Island, and supplies
have to be guaranteed to be
delivered in the quantities out-
lined in the agreement to sup-
ply the Atlantis Phase III oper-
ation.

“Tf there is now any risk to
this agreement failing, then it

SEE page 6B

Food needs hit 25 per
cent of population

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

FOOD deprivation in New
Providence has reached a 25
per cent level, a well-known
doctor and businessman said
yesterday, arguing that this
nation has to change its tax
regime, dollar costs and utility
costs to bring down the cost of
living.

Dr Jonathan Rodgers, speak-
ing at the Rotary Club of West
Nassau’s weekly meeting, said
four fundamental changes to
the Bahamian economy could
greatly reduce the high costs of
everyday items crucial to a
comfortable life.

He argued that the Govern-
ment has to consider doing
away with import duties and
adopting a sales and services
tax, decrease the cost of money,
lower the cost of utilities, and
eliminate exchange controls.

He said that without these
changes the cost of living will
continue to inflate, imposing
increasing strain on the aver-
age Bahamian family.

“We need to try to stabilise
the economy before we can
rebuild it or restructure it,” said
Dr Rodgers. “We need to bring
down the cost of living.”

He added that his daughter,
Alanna Rodgers, who estab-
lished the philanthropic food
assistance programme, Hands
for Hunger, found that the lev-
el of food deprivation across

New Providence was around 25
per cent. He believes that num-
ber could be higher.

Dr Rodgers said Hands for
Hunger serves up more than
10,000 meals per weak, which
has still proven to be insuffi-
cient.

“There is a big need,” he
said. “And the same way there
is hunger, there is financial
hunger. People can’t afford to
live.”

Dr Rodgers said the econo-
my had been failing before the
economic crisis, and has to be
reformed by the Government
changing certain economic
functions.

He argued that the introduc-
tion of a sales tax, in lieu of
importat taxes, could decrease
the cost of living by 100 per
cent at the outset.

According to him, items that
the Bahamas imports are often
marked up 100 to 200 per cent,
while the consumer price index
spread creates the appearance
of only a 2 to 3 per cent price
hike.

“We have to compare it
(item costs) to the cost from its
source, which is the US,” he
said.

Dr Rodgers also asserted
that government has to bring
down the cost of borrowing
money through creating more
competition in the banking sec-
tor, and moving the Central
Bank of the Bahamas to apply

SEE page 4B

MAY 7,



2010





FAMILY GUARDIAN

INSURANCE COMPANY LIMITED





‘Dash’ for new fleet’s
Savings at B’air
eer

O%

By NEIL HARTNELL
Tribune Business Edito

ahamasair will slash

operating costs by

almost 50 per cent

per hour if it
switches from its existing Dash-
800 fleet to the planned Saab-
340s, saving some $10 million
per year, its chairman telling
Tribune Business yesterday that
the economics were “blinding-
ly favourable for making the
change”.

J Barrie Farrington, in an
exclusive interview, said the
national flag carrier’s fleet
restructuring would take 18-24
months to implement once the
Government approved the
company’s plans, which are tar-
geting “positive margins” and
the elimination of the $25 mil-
lion-plus subsidy it receives
annually in nine to 10 years’
time.

Emphasising that Bahama-
sair’s Board and management
did not want to be adversarial
towards the Bahamas Airline
Pilots Association (BALPA),
which had criticised the pro-
posed restructuring, Mr Far-
rington outlined the economic
case for replacing the airline’s
existing five Dash-8s with eight
leased Saab-340s.





RAUL LA

“The Dash-8s operating cost
per hour is $2,200. The opera-
tional costs for the Saab is
about 50 per cent less at $1,200
per hour, give or take. It’s
under $1,200,” Mr Farrington
told Tribune Business.

This newspaper’s calcula-
tions, based on those figures,
show a cost savings of almost
46 per cent, which is still signif-
icant.

Mr Farrington added that
based on 10,000 hours of block
flying time in Bahamasair’s
2008-2009 financial year, the
total operating costs for the
company’s Dash-8 fleet were
$21.4 million.

“If we had the same number
of operating hours for the
equivalent number of Saabs, it
would be $11.5 million,” Mr

A BAHAMASAIR Dash-8 waits for departure...

Farrington added. “Apples to
apples, our savings would be
$10 million. That’s scientifical-
ly calculated by our operations
people in management at
Bahamasair.

“The numbers are
irrefutable. The economics of
it would suggest that it makes
sense to switch to an aircraft
that has much lower operating
costs, gives you much more
flexibility in frequent flights and
the like.”

Emil Saunders, BALPA’s
president, had criticised the
fleet restructuring for being
incompatible with Bahamasair’s
stated aim of increasing tourist
market share to around 30 per
cent. However, Mr Farrington
effectively indicated that the
pilots appeared to be trying to

BISX Index ‘on track’ for 8% annual growth

By NEIL HARTNELL
Tribune Business Editor

THE Bahamas International
Securities Exchange’s (BISX)
All-Share is “on track” to expe-
rience an 8 per cent apprecia-
tion during 2010, a leading
financial analyst said yesterday,
telling Tribune Business that
the arrival of new investment
opportunities - Heineken/Burns
House and the Arawak Cay
port - could “drive renewed
investor interest”.

Unveiling its performance for
the 2010 first quarter, the
Bahamian stock exchange said
its All-Share Index had experi-
enced a 2 per cent year-to-date
increase to 1,569.62, as nor-

* Analysts says ‘substantial’ recovery to
occur in 2011, but ‘neutral to slight bump
up’ will be an accomplishment in 2010

* First quarter trading volumes and values up by 16.3%
and 61.6% respectively, even without Cable trade

* Heineken and Arawak Port deal to drive ‘renewed
interest and demand’ for Bahamian equities

malised trading volumes and
the value of shares traded rose
year-over-year by 16.3 per cent
and 61.6 per cent respectively.

Kenwood Kerr, Providence
Advisors’ chief executive, told
Tribune Business that it would
be an “accomplishment” for the
BISX All-Share Index to end

the year in a neutral or slightly
improved position, given the
uncertainties over the Bahami-
an and global economy’s recov-
eries, highlighted by events in
Greece and fears of sovereign
debt defaults.

SEE page 7B

* Chair says switch from
Dash-8s to Saab-340s to
lower operating costs by
$10m, from $21.4m to
$11.5m, with per hour
costs 46% lower

* Board's plan, submitted
to government, envisages
‘positive margins’ and end
to $25m-plus subsidies
by nine to 10 years’ time

* Fleet restructure likely
to take 18-24 months

* ‘Economics blindingly in
favour of feet restructure’

‘run before they can walk’, as
the fleet restructuring was
required to “stabilise” the
national flag carrier in the first
instance.

That was the first phase of
the plan submitted to the Gov-
ernment by the airline’s Board
and Cabinet, with the second
phase involving the exploration
of new international routes and
the tourism market.

Adding that the Board want-

SEE page 4B

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, E











FG FINANCIAL

PENSIONS & INVESTMENTS

call us today at 396-4080

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

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PAGE 2B, FRIDAY, MAY 7, 2010

THE TRIBUNE



Questions that protect your firm from crime

HAVE you ever wondered
why some stores are selected
and others not when it comes to
robbery and stealing? Maybe
it is random selection, but I
think not.

You and your business have
been targeted, and for the most
part your actions or inaction
create, on a daily basis, the
opportunity for criminals to
steal and commit robberies. It
may be a harsh pill to swallow,
but the blame for your business
being targeted and robbed is
partially yours. On numerous
occasions we hear the police
giving tips on how to set up
your store or business, where
to place the cash register, lim-
iting the amount of cash that is
on site, or reducing the amount
of advertisements covering the
windows.

Unfortunately, this advice
goes in one ear and out the oth-
er for the sake of increasing the
potential for sales and making
the shopping experience more
convenient. Really, the ques-
tion is: are these recommenda-
tions sound and will they actu-
ally work. Well, as I have said
numerous times in this column,
security must be seen as a mul-
ti-layered initiative, as no one
method or strategy can work in

isolation. There is no sense in
fortifying your front door with
the best locks, yet your back
door is mage of composite
wood.

When giving lectures on
crime prevention I regularly ask
my audience questions that
attempt to heighten and
increase their awareness. It also
helps them, in answering those
questions, to realise how much
in control they really are. By
allowing the participants to
become crime analysts of sorts,
I am better able to assist them
in developing strategies for pro-
tection that are more real and
personnel to them. I remind
them in these discussions to not
use the media as the only mea-
suring stick, especially when it
comes to crime that affects
them directly. In many
instances, the only reliable mea-
suring stick is what is happening
in their own neighbourhoods
and industry. You, too, can par-
ticipate in this exercise and
answer these questions.

Note these questions make
no reference to the police
response time; how long will
the matter take before it is dis-
posed of before the courts; and
how long will the suspect be
incarcerated. Those questions





Safe &
Secure

lV ACrIEl ON aay







speak to another area of crime
prevention that requires a col-
lective approach to have these
responses and wait times
reduced.

* How would you rate the
current crime trends in the
Bahamas?

High Medium Low

The crime rate in the
Bahamas is not exclusive to
New Providence, and thus all
the Family Islands must be fac-
tored in. Too often we become
Nassau centric, and believe the
country lives and dies by New
Providence. This questions begs
the reader to step out of their
reality, as their community may
be facing high instances of
crime, but in Salina Point, Ack-
lins, crime is only heard of dur-
ing the evening news

* What is the crime rate
where your business is locat-
ed?*

High Medium Low

This question brings the real-



i hs
UJ ts

FAMGUARD AND BAHAMAS FIRST AGREE
TO DISCONTINUE DISCUSSIONS TO
CONSOLIDATE COMPANIES





Norbert Boissiere, Chairman of FamGuard Corporation Limited
(FamGuard) and Ian Fair, Chairman of Bahamas First Holdings Limited
(Bahamas First) are today announcing that FamGuard and Bahamas
First have jointly agreed not to pursue further discussions with respect to
consolidating their two holding companies.

Following initial discussions and preliminary due diligence exercises
both parties agree that while consolidation of the holding companies is
not feasible at this time they will seek alternative ways to pursue joint
commercial activities both now and in the future where such activities
are likely to bring mutual benefit.

Bahamas First and FamGuard share a similar history with both entities
having been established as holding companies for their home grown
insurance subsidiaries, Bahamas First General Insurance Company and
Family Guardian Insurance Company which were established in 1982
and 1965 respectively.

FamGuard became a publicly traded company in 1998 and began
the process of restructuring its insurance operations in 2001 with the
merger with Star Insurance Company (Bahamas) and the acquisition
of the remaining 50% portfolio of BahamaHealth Insurance Brokers &
Benefit Consultants Limited in 2002. In 2006 FamGuard entered into
a strategic alliance with Sagicor Financial Corporation with that entity
acquiring 20% of its shares. In 2008 FamGuard launched its pensions
and wealth management subsidiaries, FG Financial Limited and FG

Capital Markets Limited.

Since its creation 28 years ago, Bahamas First has taken a lead position
in the general insurance market and was the first local general insurance
company to exceed $100 million in premium income in 2007. Also
in 2007, the company entered into a strategic arrangement with the
Economical Insurance Group (EIG) of Canada with that entity acquiring
20% of its shares.

The insurance subsidiaries of both companies are currently rated
A-Excellent by international rating agency A.M. Best.



ity of crime closer to home by
asking you to count the number
of businesses in your shopping
center/mall/plaza that are being
robbed etc.

* What types of business are
experiencing high crime rates?*

Retail

Wholesale

Food Service

Corporate Entities

Banks

Web Shops

Hospitals

Some businesses have a very
low possibility of violent crime
because of what they are, while
others are very prone to vio-
lent events.

*Has your business been a
victim of crime?*

Yes/No

If crime has not touched your
business for whatever reason,
there may be several factors
why. They can range from loca-
tion, operating hours, honest
staff, etc.

*Where are violent crimes
occurring?*

Home

Work

Play

This has a lot to do with loca-
tion, but also business type.
Often it has to do with percep-
tion.

*When are violent crimes
occurring?

Morning

Day

Night

Weekdays

Weekends

Knowing when, or having a
good idea of when, you or your
business are vulnerable is very
important. This information can
help with the allocation of the
necessary security measures at
the appropriate time. Too many
crimes happen when insuffi-
cient tactics are in place to deal
with the threat.

*Who are committing these
offenses?*

Men

Women

Adults

Teens

If you know who the most
likely suspects are, you can bet-
ter defend against them. This
may sound like profiling, and
maybe it is, but the real ques-
tion is: It is necessary? The dif-
ficulty lies with balancing your
ethics with your survival.

There are possibly thousands
of motivating factors for why
someone commits a crime, but
this should be left to the crim-
inologist and the court. Don’t
worry too much about motive
at this point.

These are simple questions
you should take a moment to
think about, as the answers will
play an important part in what
you do. Essentially, it is the first
and, in my opinion, the most
important part of any crime
prevention strategy. It is my
opinion that reducing crime is
not rocket science, but rather
a simple look at causation fac-
tors and reducing the likelihood
they will happen.

Easier said than done, you
may say, but if you have taken
the time to answer the above
questions you have taken the
first step in this process. Does
this process alone make you an
expert? No, you were expert
long before this. I am only try-
ing to help you organise your
experience. This approach, I
hope, will assist you in selecting
the appropriate counter-mea-
sures to reduce your exposure
to crime.

NB: Gamal Newry is the
president of Preventative Mea-
sures, a loss prevention and
asset protection training and
consulting company, specialis-
ing in policy and procedure
development, business securi-
ty reviews and audits, and
emergency and crisis manage-
ment. Comments can be sent
to PO Box N-3154 Nassau,
Bahamas, or e-mail
gnewry@gmail.com or visit us
at www.preventativemea-
sures.net





CHRISTEL SANDS-FEASTE

Higgs & Johnson
partner wins
award for
M&A work

A HIGGS & Johnson
partner, Christel Sands-
Feaste, has been awarded
the title of Recommended
Attorney in Mergers &
Acquisitions for the
Bahamas by Global Law
Experts (GLE).

GLE is the premier guide
and referral service to lead-
ing legal professionals
throughout the world, and
is a valuable tool for busi-
ness leaders, in-house coun-
sel, high net-worth individu-
als, operations directors,
investors, accountants, banks
and persons looking for
quality legal advice in all rel-
evant fields. They now rec-
ommend nearly 2,000
lawyers from 140 countries
in 30 practice areas.

Mrs Sands-Feaste is a
member of Higgs & John-
son’s commercial law, secu-
rities and private client and
wealth management practice
groups, with extensive legal
experience in corporate and
commercial law, and inter-
national trust and company
administration. She has act-
ed in all aspects of commer-
cial transactions, including
mergers and acquisitions,
asset financing, private
placements of offshore secu-
rities, investment fund struc-
turing and creation and
estate planning.

Oil settles near $77 a barrel

NEW YORK (AP) — Oil prices on Thursday
dropped to levels not seen since February, as the

stock market plummeted.

Benchmark crude lost $2.86 to settle at $77.11
a barrel on the New York Mercantile Exchange.

Oil hit $73.71 on February 16.

Crude was lower at midday and the price
slide picked up speed as the stock market
tanked. Investors flew to safer havens in gold
and bonds. The Dow Jones Industrial Average

plunged almost a thousand points, about nine
per cent, before recovering some ground. The

Dow was down about 400 points an hour before

the close.

Europe’s debt problems got much of the

blame. The ongoing crisis also has undermined

lar rises.

the euro and strengthened the dollar. Com-
modities priced in dollars, like oil, become more
expensive for investors holding euros as the dol-





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


THE TRIBUNE

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

A BAHAMIAN online
shopping website wants to help
Bahamians distribute their
locally-made products across
global markets by leveraging
the e-commerce bug that has
bitten the developed world.

ShopBVM.com executive,
Ricardo Berris, told Tribunes
Business yesterday that there
are not “enough authentically
Bahamian made products
online”.

According to Mr Berris, the
Internet has condensed global
markets, and brought access to
material goods and services lit-
erally to the fingertips of any-
one with a computer accessing
the Internet.

He said Bahamian products
could become a virtual com-
modity if more individuals con-
sidered starting an online store,
where their wares are no longer
visible to a limited few but
accessed at a global level.

“Tt’s 2010 and the world gets
even smaller with globalisation
made possible by the Internet,”
Mr Berris said.

“There are millions of visi-
tors who grace our shores year-
ly for the sun, sand, sea and
something Bahamian, but

Internet site’s
platform plan
for authentic

Bahamas goods

access to Bahamian products is
still poor.

“There could be such a phe-
nomenal effect for the Bahamas
when a tourist cannot only go
back to their homeland and
show-off an item from
Bahamas, but point others who
want it to an online store that
sells that same item.”

Mr Berris said shopbym.com
could allow Bahamian products
to be hosted online in one loca-
tion for the rest of the world to
access, purchase and have
shipped to almost any address
worldwide.

“Our vision is to maintain a
one-stop web portal that will
be a household name for find-
ing authentic products,” he
added.

“Even agricultural products
can be sold in online stores to
further extend the access and
visibility of locally-grown pro-
duce to be sold to the rest of
the world.

“Tf the Chinese can come
here and see potential in grow-
ing crops for export and the
local market, then why can’t
the existing farmer or producer
use the Internet as the main
medium to expose what they
have to the same markets the
Chinese have plans for?”

Mr Berris said that although
the Bahamas is not as populous

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as other nations, Bahamians
reside throught the globe, so a
market exists to make it easy
for them to access products pro-
duced locally.

“The world keeps looking for
authentically Bahamian prod-
ucts because they are hungry
for something Bahamian,”
said Mr Berris. “The Bahami-
an diaspora thirst for home-
made products they can
indulge in and keep their spir-
its alive.”

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.

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"P THE BAH AME

EMPLOYMENT OPPORTUNITY
SECURITIES COMMISSION OF THE BAHAMAS

The Securities Commission of The Bahamas, a statutory agency responsible for
the oversight, supervision and regulation of the Investment Funds, Securities
and Capital Markets in or from The Bahamas, as well as the supervision of
Financial and Corporate Service Providers, invites applications from qualified
Bahamians for the following position:

Deputy Manager Corporate Affairs
Responsibilities:

Providing strong support to the Manager, Corporate Affairs and the
Executive Director in the execution of Human

Resource planning and HR benefit administration for the Commission
Assisting with managing training, human resource development,
compensation, benefits programs, ensuring compliance to policies and
procedures for the Commission.

Building and sustaining effective relationships with employees thereby
enhancing and strengthening the Commission's performance
Assisting with managing the general office administration of the
Commission

Competencies:

Sound knowledge of Compensation and benefits programs

Sound knowledge and understanding of HR management practices
Knowledge of labour legislation in the region

Developed negotiation skills

Well developed interpersonal and leadership skills

Good training delivery and facilitation skills

Must respect confidentiality

Excellent analytical skills

Proficient computer skills (Microsoft Office applications, and HRIS)

Qualifications and Experience:

A Bachelor's degree with professional Human Resources certification
3-5 years experience in all aspects of Human Resource Management

A competitive salary and benefits are being offered. To apply, please write
attaching a resume to:

MANAGER HUMAN RESOURCES
SECURITIES COMMISSION OF THE BAHAMAS
P. O. BOX N-8347
NASSAU, BAHAMAS
Fax: 356-7530

E-Mail: info@scb.gov.bs

Applications should be submitted no later than May 14, 2010

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PAGE 4B, FRIDAY, MAY 7, 2010

THE TRIBUNE



=) >
Making city centre revival a ‘Festival’ Telecoms ‘ripe’

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net



DOWNTOWN Nassau’s revitalisation
is being taken one festival at a time, tailor-
ing them to lure Bahamians and visitors
back to the area as government gradually
seeks to improve its appearance and allure.
The latest is the Great Bahamian Seafood
and Wine Festival.

Managing director of the Downtown
Nassau Partnership (DNP), Vaughn
Roberts, told Tribune Business that the
festivals are designed to build the DNP’s
coffers to fund more activities aimed at
attracting locals to the city cente.

It has been the public/private partner-
ship’s mandate to create a Business
Improvement District (BID) to govern the
redevelopment of the Downtown area. And
while some upgrades have begun, the leg-

islation to create the BID has not been put
before Parliament and was not mentioned
in the latest Speech to the Throne.

However, Mr Roberts is betting on gar-
nering more public support for the city’s
revitalisation by creating events that would
be appealing to all sections of the Bahami-
an community.

“We are really trying to capture a wide
segment of the population,” he said. “Even
people who don’t go to festivals and kids as
well.

“The idea behind the festival is it is an
important part of brining the city back, led
by our office, to bring innovation and cre-
ativity to it. We chose seafood and wine
because there is an opportunity for it to
become an international hit.”

Mr Roberts said he hopes the festival
could become an iconic hit, similar to the
South Beach Wine and Food Festival,
which draws thousands of visitors to Miami

from across the globe and features world-
class celebrity chefs.

Many agencies have come together to
shape the Seafood Festival, including the
Ministry of Tourism, the Culinary Associ-
ation and the Bahamas Commercial Fishing
Association. The festival is also hoping to
highlight some of the listed properties in the
city that hold, for Nassau, historical and
aesthetic value.

Mr Roberts said Jacaranda house will
be used to host a gala event for the festival
that will remind its patrons that those prop-
erties still exist and can be leveraged.

The Seafood Festival is scheduled to
begin on May 22 and continue until the
end of the month. It will be held on vacant
property owned by the British Colonial
Hilton called Junkanoo Beach East.

The DNP is also plans to undertake a
mural painting campaign and walking tour
that could start as early as next week.



DASH, from 1B

ed to foster a “total team
effort”, involving the pilots, to
turn the national flag carrier
around, Mr Farrington said:
“It’s indisputable that there was
no way we could remain as we
were, with a fleet that was age-
ing, that was contracting, and

unsuitable for the network of
services and routes that we’re
engaged in flying.

“The bottom line was that
we could not stand still and do
nothing. It will be patently obvi-
ous to all those who understand
how businesses function. The
next step was to look at an
operational model suitable for
today’s environment and econ-

CLIFTON HERITAGE AUTHORITY
Clifton Heritage National Fark
South Wiost Bora
Nassau Bahamas
Tel: 1024209624368 oF M242 7F62-5121 of Fax:
362-317
Email: park clifton yahoo oom.

EMPLOYAIENT OFPORTUSITY

omy.”

The re-designed operating
model for Bahamasair, the
chairman added, was designed
to “stop the hemorrhaging, and
create a mix of aircraft and
operating models that get us to
a degree of success”.

Mr Farrington said it would
take 18-24 months from the
date of government approval
for Bahamasair to restructure
its fleet, transitioning from the
existing two Boeing 737-200s
and five Dash-8s to four Q-400
Bombardiers and the eight
Saab 340s.

The “useful lives” of
Bahamasait’s two existing jets,
Mr Farrington said, would
“come to an end by the 2010
third quarter”. He added that,
as a result, their maintenance
and re-certification costs were
becoming “exorbitant”.

It was now costing $1.2 mil-

lion to get the two Boeing 737-
20s through their annual safety
checks, he added, when the net
value of both aircraft was
around “a couple of hundred
thousand”. Maintenance and
safety check costs had been half
that in 2006, standing at
$600,000, and Mr Farrington
said: “It’s an exercise in dimin-
ishing returns.

“What we’re doing with the
re-fleeting plan is in essence
keeping open routes we cur-
rently serve. The Q-400s are
very fast, fuel efficient and have
much lower maintenance
costs.”

Tribune Business had previ-
ously reported that each Bom-
bardier would cost $8.64 mil-
lion per year less to operate,
and Mr Farrington added: “The
economics are blindingly
favourable to making the
change to the Q-400.”

Clillon Herilage National Park, which is one of the
country’s most beaotiful and historic locations, i sacking
an ideal camfidat: for the position of ASSISTANT
ACCOUNTANT.

PRIMARY DUTIES'RESPONSIBILITIES

* Eneore the integrity and accuracy of all finaweial
anni aft madatained ihrongh the mainicaance of
the general ledger journal vouchers, accounts payable
documentation asd other financial records

* Compile slalisical, accounting reports and lables
perlaming be cash receipla, capendilures, accounts
payable and receivables

. Prepare meathly financial slatements for managers
and monthly forecasting

® Assist with the preparation of ihe Annual Aidpet

® Review and prooces all financial transactions

* Prepare requisitions for office and other routine aupply
purchases for the park

* Lease with external audio to produce the annwal
Amiited Maaicial Statements

REQUIREMENTS

* Advanced proficiency in QeickHooks
Thorough knewledpe of accounting practices ane
procedures, accounting regulations and legislation im
The: Bahamas
Poses strong quantitative and problem solving skills
Ability to keep syatematic and detailed records.
Must be proficient in the Microsoft Office suites,
especially Excel and Word
Be diaciplined to heep company information strictly
confidential

QUALIFICATIONS

© Completion of an Assieciaie’s degree in Accounting with
a minimam of five pears experience or a Diphema in
Accounting or a related depree with a minimum of three:
Years Copernic.

Application forms are available at the Clifton Heritage
Authority's Office, Soath Weet Road, amd most be sobmit-
ted by 14th May, 2010.



eS

en
ee

KINGSWAY ACADEMY

Teacher Vacancies for September 2010

Kingsway Academy invites applicants from qualified and
experienced candidates for teaching positions at the:

High School level

* Technical Drawing and Woodwork (Grades 7 to 9)

* Music (Grades 8 to 12)

* Information Technology (Grades 7 to 12 and
Advanced Placement level)

* Physics (Grades 10 to 12 and Advanced Placement
level)

The successful candidates should have the following:
* An academic degree in the area of specialization

* A teaching certificate

* Excellent communication skills

* A love for children and learning

* High standards of morality

* Be a born-again Christian

Acomplete application package consists of:
(a) completed and signed Kingsway Academy application form
- available at the school’s Administration building or on the website

www.kingswayacademy.com (See Document Downloads)

(b) detailed resume with cover letter

(c) recent photograph

(d) three (3) reference letters, one (1) being from your church’s
minister

(e) legible e-mail address and working telephone contacts

Note: All documents should be submitted
at the same time.

Please forward to:

Kingsway Academy Employment Application

Kingsway Academy

Box N-4378

Bernard Road

Nassau, The Bahamas
e-mail:jbethell@kingswayacademy.com

Deadline: To ensure consideration, complete
application materials must be received by
Friday, May 14", 2010



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

Chief Operating Officer

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
Information 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

www.syzbank.com

SYZs& CO
BANK & TRUST

for more taxes

FROM page 1B

the consumer”, especially since
many Bahamians treated their
cellular phones as a luxury.

Adding that he disagreed
with fellow businessman
Franklyn Wilson, who yester-
day told Tribune Business that
legalising gaming would result
in net outflows from the Public
Treasury, as a result of “gam-
bling breeding poverty” and
other adverse social conse-
quences, Mr D’ Aguilar said
taxing the numbers business
would raise millions of dollars
per year in government rev-
enue.

“Banks tend to be under-
taxed compared to other busi-
nesses,” he added. “It’s a heav-
ily under-taxed industry” com-
pared to the income that
Bahamian banks and trust com-
panies generated per annum.

Mr D’ Aguilar also pointed
out that the Government was
“not taxing services one bit”,
even though this was the sec-
tor accounting for the largest
amount of economic activity in
the Bahamas. He suggested,
though, that the Ingraham
administration was unlikely to
do anything about this in the
2010-2011 Budget, and was like-
ly to save it for a more com-
prehensive introduction of Val-
ue Added Tax (VAT).

“All you’re looking at are
fees, raising revenues from
avenues that have the least
effect on the average person in
the street,” Mr D’ Aguilar said
of the Government’s efforts to
plug the fiscal deficit and
reduce the national debt.

“Look at the whole fee struc-
ture. There’s a whole host of
fees that are charged, but have
not been amended, for four mil-
lion years.

“They have to look at taxes
that are easy to collect. Gaso-

line taxes are easy to collect
because they are paid at the
border when the fuel comes in.
But property taxes are a night-
mare to collect. Increasing
property taxes could increase
revenue, but not the Govern-
ment’s cash flow. And that’s
what we need to increase.

“The Government will not
be able to get increased taxes
from its traditional sources.
Import duties are already high
enough.”

While all Bahamian govern-
ments were reluctant to cut
spending and reduce the size
of government, the former
Chamber president suggested
that the Ingraham administra-
tion now had to seize the
moment offered by a public
mood that was more prepared
for austerity measures, and set
the public finances back on
track.

Arguing that the Govern-
ment would find it impossible
to accommodate the wishes of
the likes of the Nassau Insti-
tute, which would like to see
departments closed down and
employees released, Mr
D’Aguilar suggested that the
administration “tackle” the
generous pensions and benefits
civil servants/public sector
employees enjoyed.

Emphasising that this did not
involve changes to basic
salaries, the former Chamber
president said: “They’ve got to
get their house back in order.
We don’t want to go the way
of the Greeks.

“The Government needs to
look at the generous benefits it
gives its employees. Salaries are
one thing, but those generous
and lucrative defined benefit
pension plans for public sector
workers and civil servants have
to be tackled. That whole issue
has to be tackled, as it will come
home to roost one day.”

Food needs hit 25 per
cent of population

FROM page 1B

monetary policy.

“We seem to be the only
country in the world not using
monetary policy,” he said.

Dr Rodgers also insisted that
the Government stem high util-
ity costs, starting with electrici-
ty, by investing in nuclear ener-
gy and promoting electric vehi-
cles capable of long distance
before needing to be recharged.

That, he said, would estab-
lish clean energy and green liv-
ing, while decreasing individu-
als costs. He added that high
electricity costs were making

the Bahamas tourism sector
uncompetitive in the region.
Dr Rodgers also contended
that the dollarisation of the
economy and the elimination
of exchange controls will go a
long way in strengthening it.
He said Bahamians have to
demand these changes from
their government in order to
see the economy become a sus-
tainable, debt-reduced one.
“It requires a change of
mindset. It requires change and
change is painful for people,”
said Dr Rodgers. “We are at a
point now that if we don’t rock
the boat, the boat will sink.”

Oru

Will be holding its

ANNUAL
GENERAL
MEETING

Friday, May 21st, 2010
Location: B.C.P.0.U. Hall Farrington Road

Time: 7 p.m.



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6B, FRIDAY, MAY 7, 2010

THE TRIBUNE



FROM page 1B

should not proceed for Kerzner
has other opportunities for its
requirements and just cannot
be exposed to the current
uncertainty of the agreement
being fulfilled timeously.”

The e-mail, which was also
sent to Water & Sewerage Cor-
poration acting deputy general
manager, Glen Laville, urged
him to consult Mr Roberts for





‘What a tangled web!’

his commitment to the water
supply agreement, “for it is bet-
ter to blush once now rather
than twice later, and I cannot
on behalf of Kerzner fail to
recognise there is a growing risk
of these critical supplies being
in jeopardy”.

A financial analysis of the
shambles that surrounded the
Arawak Cay osmosis plant con-
tract, which was conducted for
former Prime Minister Perry
Christie by consultant Deepak
Bhatnagar, noted that the plant

would have taken 14 months to
construct and get operational.

Yet the Memorandum of
Understanding (MoU) that the
Water & Sewerage Corpora-
tion signed with Kerzner Inter-
national in May 2005 commit-
ted it to begin supplying water
to Phase III by June 2006 -
some 13 months away. In other
words, the Water & Sewerage
Corporation committed to sup-
plying water one month before
the Arawak Cay plant could
have been built.

The Long Islanders’ Association

Annual Raffle 2010 WINNERS LIST

Maria Campbell, Quail Roost Ridge
P.O. Box N-9180

David Gape
















2010 Chevy Aveo Sedan

Whirlpool Washing
Machine - Anonymous

GE 7 Cubic Chest Freezer
- Geoffrey Jones & Co

Two Round Trip Tickets

Sharie Knowles, Weymss, Long Island

Luckie, Grays, Long Island

To Ft.Lauderdale, Anonymous

3 Days, 2 Nights Stay-
Cape Santa Maria

3 Days, 2 Nights Stay-
Stella Maris Inn

Two Round Trip Tickets

Julian, Malcom Road

Dexter Wilson, Winton Meadows
PO. Box N-9893

Stephen H.C. Storr, P.O. Box N-945

to Long Island - Keith Carroll

Two Round Trip Tickets
to Long Island-

Slow N’ Steady, P.O. Box SS-5945

Neil Knowles, Four Seasons

Crane Rental

$300.00 Gift Card-
Commonwealth Building
Supplies

. $300.00 Cellular Phone - Island Cellular

. Two Round Trip Tickets
on R/O R/O Boat with Car
to Eleuthera Or Andros-
Bahamas Sea Road

19” Color Television
Mr & Mrs Al Harding

. Two Round Trip Tickets

Lil Angie

St Andrew’s Beach Estates
P.O. Box N-8659

Cathy Lorandos

Nature’s Way Landscaping
P.O. Box CB-11382

Gelize Ferguson, 124 Mt. Royal Avenue
P.O. Box GT-2213

Tony Cartwright

on the Bohengy To Eleuthera-

Bahamas Fast Ferries

. Gents & Ladies Wrist
Watch - Crown Jewellers

. Lawn Mower -J.B.R. Building Supplies
. Bicycle - Mr & Mrs Carl Treco
. $150.00 Gift Certificate - (A.LD.)

. $100.00 Gift Certificate -
Centreville Food Store

. $100.00 Gift Certificate -

Irmath Munroe, Windsor Avenue,
P.O. Box SS-5255

George Johnson, Staniel Cay, Exuma
Danielle Bascombe, Ritchieville Dr.
KRC, P.O. Box EX-29212, Exuma

Caven McIntosh, Lot 10, Firetrail,
P.O. Box N-8804

Caden Smith, Garden Hills #1,

Early Bird Food Store

. $100.00 Gift Certificate, Shayne’s Dept.

Store

. $100.00 Gift Certificate-

The Prescription Centre Pharmacy

. Ceiling Fan - Henry F. Storr

Electric Co. Ltd.

. Ceiling Fan - Mr & Mrs Leslie Bowe
. Vacuum Cleaner-Careful Pest Control

. Portable Cassette/CD Player -

Lickety Split Ice Cream & Deli

P.O. Box FH-14353

Whitney Clarke, P.O. Box F-43029,
Freeport

Cahya Smith, Garden Hills #1,
P.O. Box FH-14353

Donavon Bullard

Olivia Fox, Salt Pond, Long Island

Terrance Simmons, Abaco

Emily Smith, Seymours, Long Island

Please contact Gina Coakley @ 325-8666 to collect your prize.
All prizes must be collected by November 30th, 2010.

ROYAL FIDELITY

Money at Wark

CcrAL

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 6 MAY 2010

FG CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

Clerlci nA) AL.

BISX ALL SHARE INDEX: CLOSE 1,561.38 | CHG 2.87 | %CHG 0.18 | YTD -4.00 | YTD % -0.26

FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

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

52wk-Low Security
1.00 AML Foods Limited

9.67 Bahamas Property Fund
5.23 Bank of Bahamas

0.44 ~~ Benchmark

3.15 Bahamas Waste

244 Fidelity Bank

9.62 Cable Bahamas

2.69 Colina Holdings

5.00 Commonwealth Bank ($1)
2.21 Consolidated Water BDRs
1.32 Doctor's Hospital

5.94 Famguard

8.75 Finco

9.50 FirstCaribbean Bank
3.75 Focol (S)

1.00 Focol Class B Preference
0.27 Freeport Concrete

5.00 ICD Utilities

9.95 J. 8. Johnson

10.00 Premier Real Estate

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Daily Vol.

i__52wk-Low
1000.00
1000.00
1000.00
1000.00

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

Previous Close Today's Close Change
1.05 1.04 -0.01
10.63 10.63 0.00
5.24 5.24 0.00
0.44 0.44 0.00
3.15 3.15 0.00
247 247 0.00
12.07 12.07 0.00
2.84 2.84 0.00
5.84 5.90 0.06
2.81 2.70 -0.11
2.54 2.54 0.00
6.07 6.07 0.00
9.08 9.08 0.00
10.60 10.60 0.00
5.08 5.08 0.00
1.00 1.00 0.00
0.27 0.27 0.00
5.59 5.59 0.00
9.95 9.95 0.00
10.00 10.00 0.00

Last Sale
100.00
100.00
100.00
100.00

Symbol
FBB17
FBB22
FBB13
FBB15

Change

Daily Vol.

EPS $ Div $ P/E

0.250 i 4.2

0.050 212.6

0.598 F 8.8

0.877 E N/M

0.168 i 18.8

0.055 i 39.5

1.406 5 8.6

0.249 i 11.4

0.460 E 12.8

0.111 i 24.3

0.627 : 41

-0.003 E N/M

0.168 F 54.0

0.678 4 15.6

0.366 5 13.9

0.000 x N/M

0.035 x 77

0.407 I. 13.7

0.952 : 10.5

0.156 A 64.1

ases)
Interest Maturity

7% 19 October 2017
Prime + 1.75% 19 October 2022
7% 30 May 2013
Prime + 1.75% 29 May 2015

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

52wk-Low Symbol
7.92 Bahamas Supermarkets
6.00 Caribbean Crossings (Pref}
0.40 RND Holdings

Bid & Ask & Last Price.
10.06 11.06 14.00
2.00 6.25 4.00
0.35 0.40 0.55

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

29.00 ABDAB
0.40 RND Holdings

52wk-Low Fund Name

30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds

NAV YTD%. Last 12 Months %

Daily Volk.

NAV 3MTH

EPS $
72.945
0.000
0.004

Div & PIE
0.000 N/M
0.480 N/M
0.000 256.6

4.540
0.002

0.000 9.03
0.000 = 261.90

NAV 6MTH NAV Date

1.3702
2.8266
1.5127

CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund

1.4602
2.9020
1.5289

6.57
0.11
4.75

1.438700
2.886947
1.507147

1.407626
2.830013
1.491956

31-Mar-10
30-Apr-10
30-Apr-10

2.9343 Royal Fidelity Bahamas G & | Fund
12.6816 Royal Fidelity Prime Income Fund
100.5448 CFAL Global Bond Fund
93.1998 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 — Royal Fidelity Bah Int! Investment Fund
Principal Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Int! Investment Fund
Principal Protected TIGRS, Series 2
4.8105 Royal Fidelity Int'| Fund - Equities Sub Fund
BISX ALL SHARE INDEX -19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month eamings
- 4-for-1 Stock Split - Effective Date 8/8/2007
- 3-or-1 Stock Split - Effective Date 7/11/2007

3.2025 - 3.54
13.4986 ‘ 5.44
107.5706 ; 6.99
105.7706 13.50
1.1034 i 5.25
1.0764 5 437
1.1041 4 5.34
9.5795 : 5.33
10.5417 -2.13 10.96

7.6928 -0.31
MARKET TERMS

47.51

103.987340
101.725415

31-Jan-00
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Mar-10
31-Dec-09

103.095570
99.417680

31-Mar-10

31-Dec-09

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity
Ask § - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported eamings per share for the last 12 mths

NAV - Net Asset Value
N/M - Not Meaningful

FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-7525

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

“Therefore, as far as I can
see, despite the poor planning
of the project and the chaos
which ensued, Water & Sewer-
age Corporation committed to
something which was clearly
not achievable,” Mr Bhatnagar
concluded.

His report found that
between August 31, 2006, and
March 31, 2007, Kerzner
expected to be supplied with
between 500,000 and one mil-
lion gallons of water per day,
with a minimum purchase
increasing to two million gal-
lons per day by December
2007.

Failing to perform, the Bhat-
nagar report said, could have
exposed the Water & Sewer-
age Corporation to a maximum
$1.17 million penalty over an
18-month period to December
2007, with the penalties rising to
$10 per thousand gallons from
2008 onwards.

Kerzner International’s com-
mitment was $6.2 million per
year, based on a minimum use
of 1.7 million gallons per day,
and Mr Bhatnagar’s report
alluded to “the threat” as to

(CREDIT SUISSE

whether or not the company
might put Phase ITI on hold.

“It is also my view that
Water & Sewerage Corpora-
tion’s negotiations with Kerzn-
er International have been poor
and ineffective,” Mr Bhatnagar
concluded in his report to Mr
Christie. “With Heads of
Agreement signed with Kerzn-
er, it took one year for Water &
Sewerage Corporation to sign
the Memorandum of Under-
standing. Further, the MoU did
not stipulate the amount of the
penalties and the security
deposit.”

Kerzner International had
also committed to loaning $2.4
million to the Water & Sewer-
age Corporation, payable
between 2011 and 2017, and Mr
Bhatnagar’s financial report
instead recommended that the
developer lodge a $5 million
bond to secure its commitment
to take $6.5 million worth of
water over 25 years.

The Arawak Cay plant never
proceeded under the former
Christie administration, after
the then-government decided
the area should become a cul-

tural and touristic area. Perpall
Tract was eyed as a new loca-
tion for the reverse osmosis
plant, but concerns raised over
this site at the time are still rel-
evant today, given that the
Government is looking at reviv-
ing the project.

A May 23, 2005, e-mail from
Mr Laville said that given that
the Perpall Tract site was 1.5-2
miles from the one initially pro-
posed, “this means a higher cost
and (possibly) longer construc-
tion”.

He added: “PS: What a tan-
gled web..... again.”

And in a July 20, 2005, e-
mail, Mr Laville fleshed out his
concerns, saying: “A new site
at the Perpalls Wellfield will
cost up to $5 million extra for
the additional pipework, pump-
ing station, and other activi-
ties/issues.

“This will mean an addition-
al $0.46 per 1,000 imperial gal-
lons of water or $0.5 million per
year, and $10 million over the
life of the contract. Not to men-
tion the increased construction
time, which will threaten our
success with Sun [Kerzner].”

Credit Suisse AG, Nassau Branch - Wealth Management

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We Ua MC tt 7 el
THE TRIBUNE FRIDAY, MAY 7, 2010, PAGE 7B
BISX Index ‘on track’
for 8% annual growth

NOTICE

NOTICE is hereby given that AGNES MARIE TRINCARD
of GREAT HARBOUR CAY, BERRY ISLANDS, THE
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 7â„¢ DAY of
MAY, 2010 to the Minister responsible for nationality and Citizenship,
P.O. Box N-7147, Nassau, Bahamas.



FROM page 1B

“T’ve always predicted that
at best the market would fin-
ish the year in a neutral posi-
tion, maybe a slight bump up,”
Mr Kerr told Tribune Business,
“but I don’t think we will see a
substantial pick up until 2011.”

Mr Kerr said that a 10 per
cent year-over-year apprecia-
tion in the value of the BISX
All-Share Index, a market cap-
italisation-weighted index, was
“an outside optimistic perspec-
tive, but certainly a neutral to
positive story would be an
accomplishment, all things con-
sidered”.

He added that, based on the
2010 first quarter performance,
the All-Share Index “was on
track, at that clip, to do 8 per
cent, if we do 2 per cent per
quarter.

“The demand will come from
new potential opportunities
that drive the market,
Heineken and the Arawak Cay
port deal. That could create

compared to the 103.35 or 5 per
cent decrease it suffered dur-
ing the 2009 first quarter.

The All-Share Index’s 2 per
cent first quarter improvement
was in line with some major
global stock market indices.
The MSCI Emerging Market
Index rose by 2.1 per cent in
the three months to March 31,
2010, with the S&P 500 Index
and FTSE 100 Index both up
by 4.9 per cent.

The 2010 first quarter data
was skewed by the $80 million
buyout of Cable Bahamas’ con-
trolling shareholder, Columbus
Communications, which saw
30.2 per cent of the company’s
outstanding ordinary shares -
some 5,954,600 shares - change
hands. This gave a total trad-
ing volume of 6,673,918 shares,
worth a collective $85.392 mil-
lion.

“Removing this transaction
from the first quarter, 2010 sta-
tistics results in 719,318 shares
trading for a value of $5.421
million,” BISX’s report said.

“By comparison, trading vol-
ume for the three-month period
ending March 31, 2009, was
618,337 shares for a value of
$3.355 million. Excluding the
Cable Bahamas trade, trading
volume for the 2010 first quar-
ter increased by 100,981 shares
or 16.3 per cent over the same
period of 2009, while the value
of shares traded for the 2010
first quarter period increased
by $2.067 million or 61.6 per
cent.”

BISX reported that the aver-
age daily trading volume during
the 2010 first quarter was 10,924
shares, with a daily value of
$84,460.

“During this three month
period, March 2010 saw the
highest average daily trading
volume and value with 18,226
shares and $90,706 trading val-
ue, respectively,” BISX said.
“By comparison, the three-
month period ended March 31,
2009, saw an average daily trad-
ing volume of 9,815 shares,
which equated to an average

daily trading value of $53,251.”

For January 2010, the aver-
age daily trading volume was
9,182 shares valued at $82,195,
a decline on the 13,390 average
for the same month in 2009.
However, January 2009's daily
average value was less at
$67,447.

And for February, the aver-
age daily volume traded was
5,365 compared to 5,309, with
the average value of $80,480
exceeding the $34,373 average
from last year.

NOTICE

NOTICE is hereby given that JEAN SIRRA of WEST BAY
STREET, P.O. BOX AP-59223, 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 30‘ day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



a 147

MINISTRY OF LABOUR & SOCIAL DEVELOPMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 338

THE PRICE CONTROL
(GASOLINE & DIESEL OL)
[AMENDMENT] ( ) REGULATIONS, 2002

some renewed interest in the
market.”

Mr Kerr told Tribune Busi-
ness that investor confidence
in Bahamian equities had start-
ed to return “at the corporate
and institutional level, and in
select pockets at the retail lev-
el”, but many individual
investors were sitting on the
sidelines “waiting to see signs of
economic improvement” before
actively entering the market
again.

“I don’t think the market is
going to slide much from here,”
the Providence Advisors’ chief
executive added, “which is why
I say a neutral to slightly posi-
tive would be a good position
for us to be in.”

He was “sufficiently com-
forted” that the Bahamian
equities market was on the road
to recovery.

BISX’s market capitalisation
remained in excess of $3 bil-
lion, its 24 primary listings hav-
ing a collective worth of $3.079
billion. The All-Share Index’s 2
per cent, or 31.24 point increase
to 1,569.62 at end-March 2010,

Legal Notice

NOTICE

KRONE PREMIER
INVESTMENTS LTD.

(In Voluntary Liquidation)

The Public 6 advised thal prices as shown in the Schedule for Lead Free ( 37) Gapedine old
be Freeport Oil Company Lid will become cfectivs on Wednesday, May $". 2010

SCHEDULE

MAXIMUM WHOLESALE SELLING PRICE |
PER U.S. GALL CM WOOMUM RETAIL |

SELLING PRICE
MAXIMUM | PERU. GALLON

| Wei
| SUPPLIERS’ PRICE

DISTRIBUTORS’
PRICE
i | 5 | 5

Pursuant to Section 137 (4) of the International
Business Companies Act, 2000, notice is hereby

| BART 8

| FREEPORT INCLUDING SEA FREIGHT

given that the above named Company is in
dissolution, which commenced on the 5th day of
May, 2010. The Liquidator is BdS Corporate Services
Limited, George House, George Street, P.O. Box N-
8159, Nassau, Bahamas.

Freeport Oil Company | Lead Free (a7| | 48 4oH | 4.47
Limited | |

ra fh
: Lr th
BARBARA BURROWS
PERMANENT SECRETARY



BdS Corporate Services Ltd.
(Liquidator)





$





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a

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THE TRIBUNE

FRIDAY, MAY 7, 2010, PAGE 9B



By The Associated Press

A LOOK at economic devel-
opments and activity in major
stock markets around the world
Thursday:

European Central Bank’s

benchmark interest

rate unchanged at 1%

LISBON, Portugal — The
European Central Bank left its
benchmark interest rate

fee g[ey 3

NOTICE is hereby given that CEREMY KESIA of MARSH
HARBOUR, ABACO, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person
who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the tacts
within twenty-eight days trom the 7â„¢ DAY of MAY, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box N-
7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that GERALDINE PAUL of 2206
ADAMS STREET, APT. #3, HOLLYWOOD, FLORIDA 33020
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 30 day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that MARCELLIN PIERRE of TALL
PINE OFF GLADSTONE ROAD, NASSAU, BAHAMAS
is applying to the Minister responsible for Nationality and
Citizenship, for registration/naturalization as a citizen of The
Bahamas, and that any person who knows any reason why
registration/naturalization should not be granted, should
send a written and signed statement of the facts within
twenty-eight days from the 30‘ day of April, 2010 to the
Minister responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that FRITZ PIERRE of COLLINS
AVENUE, 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 30 day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that DANIEL JUSLENE of
MARATHON 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 30‘ day of April, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



INTERNATIONAL BUSINESS

a X05) 50100, 001 >) =
A look at global economic developments

unchanged at one per cent in a
widely expected decision, and
did not unveil any new mea-
sures to ease the debt crisis
engulfing the eurozone.

Bank President Jean-Claude
Trichet said Europe’s economy
was recovering and downplayed
risks that Greece’s crisis would
infect Spain or Portugal. He dis-
missed suggestions that Greece
will end up defaulting on its
debt even after getting bailout
money. He also said the bank’s
governing council did not dis-
cuss buying government bonds
— one anti-crisis measure some
economists are calling for —
nor the need to create an order-
ly default mechanism for the
eurozone.

Chancellor: Market

speculation on Greek

financial crisis exaggerating

eurozone’s problems

BERLIN — German Chan-
cellor Angela Merkel said mar-
ket speculation on the Greek
financial crisis has been exag-
gerating the eurozone’s prob-
lems and should be controlled
in the future. The German par-
liament is debating legislation
that would provide the go-
ahead for euro22.4 billion
($28.6 billion) in credit for
Athens. It passed the lower
house’s budget committee. The
full house will vote tomorrow.

Merkel lashed out at banks
for driving the world into a
financial crisis by racking up
debt through costly stimulus
programmes and then specu-
lating against the states’ debt.
She argued the eurozone
should work as a bloc and han-
dle such crises itself in order to
give more confidence to the
markets.

UN: Asian governments
should maintain stimulus
spending, low interest rates
SINGAPORE — Asian gov-
ernments should maintain stim-
ulus spending and low interest
rates, even at the risk of higher
inflation and despite expected
growth of 9.5 per cent this year
in China and 8.3 per cent in
India, the United Nations said.

Premature withdrawal of
stimulus spending could have
severe consequences for the
region’s growth and for the
livelihoods of its poorest peo-
ple.

Gross domestic product in
developing Asia — the region’s
37 countries excluding Japan,
Australia and New Zealand —
will likely grow seven per cent
this year, up from four per cent
last year, as export demand

INSIGHT

For the stories
behind the news,
to L [ole T a
on Mondays

Premier Commercial Real Estate Investment Corporation Ltd.

We report that the company’s net assets per share were 11.72 per share compared to 12.32 per

share for the same quarter last year.

An interim dividend was not declared for the quarter ending December 31, 2009

Ivyln Cassar

Director Director

Hannes Babak

Premier Commercial Real Estate Investment Corporation Ltd.

Abbreviated Unaudited Balance Sheet & Income Statement

At December 31, 2009 and December 31, 2008

(Expressed in Bahamian dollars)

Balance Sheet
As of:

December 31,
2009
$

16,043,314
3,346,802
12,696,512
11.72

Total Assets

Total Liabilities
Total Net Assets
Net Assets per Share

Income Statement
Quarter ending: December 31,

2009

$
342,391
73,093
269,298

Total Income
Total Expenses
Net Income

December 31,
2008

$
17,188,761
3,844,706
13,344,056
12.32

December 31,
2008

$
231,772
89,406
142,366



rebounds, the UN said.

World stocks slide again

LONDON — World stocks
slid again as worries linger that
Greece’s debt woes will spread
to other parts of Europe.

In Europe, Britain’s FTSE
100 index tumbled 80.94 points,
or 1.5 per cent, to close at
5,260.99 while Germany’s DAX
fell 50.19 points, or 0.8 per cent,
to 5,908.26. The CAC-40 in
France was 79.92 points, or 2.2
per cent, lower at 3,556.11.

The euro fell further against
the dollar, hitting a new 14-
month low. The pound also
took a battering ahead of
Britain’s general election result,
dropping 1.4 per cent to
$1.4887. No relief was provided
by Wall Street — the Dow
Jones industrial average was
down 156.06 points, or 1.4 per
cent, at 10,712.06 in New York
afternoon trading while the
broader Standard & Poor’s 500
index fell 20.16 points, or 1.7
per cent, to 1,145.71. The Nas-
daq composite dropped nearly
two per cent to 2,355.93.

Asian stocks had also tum-
bled earlier, with Japan’s
Nikkei 225 stock average diving
3.3 per cent to 10,695.69 for its
biggest one-day fall in over a
year while China’s Shanghai
benchmark sank 4.1 per cent.
Japanese markets were closed
Monday through Wednesday
for holidays.

South Korea’s Kospi
dropped two per cent to
1,684.71, Hong Kong’s Hang
Seng retreated one per cent to
20,133.41, Australia’s bench-
mark lost 2.2 per cent and
Indonesia sank two per cent in
a regionwide rout. Benchmarks
in Singapore, Taiwan, India,
Malaysia and Thailand also slid.

Moody’s warns Greece

debt crisis could spread

LONDON — Leading cred-
it ratings agency Moody’s
Investor Service warned the
debt crisis enveloping Greece
could spread to hurt the bank-
ing systems in Portugal, Italy,
Spain, Ireland and Britain.

Moody’s said that although
banks in some countries, such
as Portugal and Italy, were not
heavily affected by the past
years’ financial crisis, they could
be impacted by the fiscal crisis
if it spreads outside of Greece.
Contagion risk will hinge on
the market’s view of the Inter-
national Monetary Fund and
European Union support pack-
age for Greece, the agency said.

National Australia Bank

reports 21.4% drop in

first half net profit

SYDNEY — National Aus-
tralia Bank, one of the coun-
try’s largest lenders, reported
a 214 per cent drop in first half
net profit, following customer
fee cuts, lower revenue from its
treasury division and the whole-
sale banking arm’s activities in
global financial markets.

The bank’s wholesale bank-
ing division said revenue from
its global markets and treasury
businesses was abnormally high
in the previous half-year due
to market volatility. The bank
has the lowest home loan rates
of the country’s four major
banks.

French bank reports

46.5% jump in Q1 profit

PARIS — French bank BNP
Paribas SA reported a 46.5 per
cent jump in profit for the first
quarter, thanks to gains on its
purchase of assets in Belgium’s
Fortis and a gradual recovery in
economic conditions.

The largest banking group in
the eurozone by deposits said it
had “limited” exposure of
about euroS billion ($6.46 bil-










lion) to Greece’s debt, with
another euro3 billion in com-
mercial investments, primarily
in the shipping sector. BNP
Paribas insisted overall fallout
from the Greek crisis was “neg-
ligible” in the quarter.

Net profit for the first quarter
was euro2.28 billion ($2.95 bil-
lion), up from euro1.56 billion
in the first quarter of 2009.

Poland’s government

considering asking IMF to

extend $20.6m credit line

WARSAW, Poland — In
view of the financial meltdown
in Greece, Poland’s govern-
ment says it is considering ask-
ing the International Monetary
Fund to extend it a $20.6 mil-
lion flexible credit line for
another year. The Finance Min-
istry said it will ask the Nation-
al Bank of Poland to support
the request.

The deputy head of the bank,
Witold Kozinski, said the bank
sees no need for the move due
to sufficient currency reserves,
but will support the motion. A
deal that Poland concluded
with the IMF last year in view
of the global crisis expired on
Wednesday without Poland
having drawn any loans.

Czech Republic’s central

bank cuts its key interest rate

PRAGUE — The Czech
Republic’s central bank cut its
key interest rate by a quarter
of a percentage point to 0.75
per cent — its new lowest rate
since the country was created in
1993 out of the former Czecho-
slovakia. It’s aimed at helping
the country’s export-oriented
economy recover from the
global economic crisis.

The Czech economy con-
tracted by 4.2 per cent last year
and the European Union pre-
dicts a grow of 1.6 per cent this
year, followed by 2.4 per cent in
2011.

COMMONWEALTH OF THE BAHAMAS

IN THE SUPREME COURT

German government’s

tax income will be lower

than expected this year,

several years to come

BERLIN — The German
government’s tax income will
be lower than expected this
year and for several years to
come, the Finance Ministry
said, raising questions about
whether Chancellor Angela
Merkel’s center-right coalition
will be able to fulfill the vague
pledges of tax relief it made
when it took office last Octo-
ber.

The Finance Ministry said a
regular meeting of experts esti-
mated this year’s tax take at
euro510.3 billion ($658.4 bil-
lion) — euro1.2 billion short of
their previous forecast in
November.

Last year’s total income for
Europe’s biggest economy was
euro524 million.

Spain’s borrowing costs

rise significantly in its

first debt auction

MADRID — Spain’s bor-
rowing costs rose significantly
in its first debt auction since its
credit rating was downgraded
last week by Standard & Poor's
amid concerns it might be hit
by a Greek-style debt crisis.

The Spanish Treasury said it
issued euro2.345 billion in 5-
year bonds at an interest rate of
3.58 percent, up from 2.84 per-
cent in the last auction in
March.

The Treasury's target was to
issue between euro2 billion and
euro3 billion in 5-year bonds,
well below the euro4.5 billion
issued in March.

A Finance Ministry official
downplayed the government's
decision to scale back its debt
issuance and played up the fact
that the auction was oversub-
scribed, saying it showed
investors still have a strong
appetite for Spanish debt.

2009
CLE/gen/No.01884

COMMON LAW and EQUITY DIVISION

BETWEEN

COASTAL SYSTEMS DEVELOPMENT, INC.

Plaintiff

ROOSEVLT NONOME
(trading as BELLO’S CONSTRUCTION)

Defendant

NOTICE

To: The Defendant

NOTICE
TO ALL SAFFRON HILL
PROPERTY OWNERS

Please be advised that the registered office of Saffron Hill
Property Owners Association Limited (SHPOAL) has been
changed to Catsan and Chipman Limited located 2nd Floor,
Martime House, Frederick Street, Nassau, Bahamas. All
Members are asked to urgently contact Catsan and Chipman
at 325-7585 for further information.

Signed, Saffron Hill Property Owners Association
Limited (SHPOAL), Board of Directors.

Pursuant to the Order ofMr. Emie Wallace, Deputy Registrar of
the Supreme Court, made herein on the 19th day of April, A. D.,
2010, granting the Plaintiff leave to effect substituted service on
you, TAKE NOTICE that this action has been commenced by the
Plaintiff against you by way of a Writ of Summons filed on the 2nd
day of December, A. D., 2009 claiming the following relief:

a. The sum of US$95,932.02 as the cost of recovery and
repairs to the Komatsu PC400C, plus interest at such rate
and for such period as to the Court might seem just pursuant
to the Civil Procedure Act, Chapter 66 of the Statute Laws of
The Bahamas; and

b. Costs;

c. Such further or other relief as to the Court might seem just.

AND FURTHER TAKE NOTICE that unless you the Defendant
enter an appearance by filing the same at the Registry of the
Supreme Court within 14 days of the final publication hereof the
Court may proceed in this action in your absence and make such
order as it deems just.

CLARITA V. LOCKHART
CHAMBERS

NO. 90 SHIRLEY STREET
NASSAU, BAHAMAS
Attorney for the Plaintiff











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THE TRIBUNE

FRIDAY, MAY 7, 2010, PAGE 11B



DirecTV Q1 profit almost triples as revenue rises

By DEBORAH YAO
AP Business Writer

DIRECTV Ince., the
nation’s largest satellite TV
provider, reported Thursday
that its net income nearly
tripled after it added new
video customers principally at
the expense of rival cable
companies. But growth
appears to be slowing.

The El Segundo, California,
company added 100,000 net
new US customers in the
quarter, down from last year’s
460,000, which was inflated by
long holdouts to subscription
TV service finally signing up
as the country switched to
digital broadcasting from ana-
log.

‘DirecTV, rival satellite TV
company Dish Network Corp.
and phone companies offering
video service have been chip-
ping away at cable’s two-
thirds market share of the
subscription TV market.

On Thursday, Cablevision
Systems Corp. reported a 900
subscriber gain in the first
quarter from the prior quar-

Wu Mie





A DIRECTV satellite dish is shown at a home in California. DirecTV Inc., the nation’s largest satellite TV
provider, said Thursday that its net income nearly tripled after it added new video customers principally at the
(AP Photo)

expense of rival cable companies...

ter, but it was down 37,900
year-over-year. Comcast
Corp. lost 82,000 video cus-
tomers sequentially while
Time Warner Cable Inc. lost
42,000 compared with the pri-
or quarter.

But the number of new cus-
tomers that signed up with
DirecTV in the quarter was
the company’s smallest gain
ever, according to Sanford
Bernstein analyst Craig Mof-
fett.

Shares fell 37 cents to
$34.86 in afternoon trading.

DirecTV earned $558 mil-
lion, or 59 cents per share, in
the quarter ended March 31,
up from $201 million, or 20
cents per share, a year ago.

Revenue rose 14 per cent to
$5.6 billion from $4.9 billion a
year ago.

The results beat analysts’
forecast for earnings of 45
cents a share and revenue of
$5.4 billion.

“Customers do appear
more willing to purchase
additional content and premi-
um services,” said Michael
White, DirecIV’s chief exec-

utive, in a conference call
with analysts.

Free cash flow, a key metric
of subscription TV companies
because they tend to have
massive debt burdens, more
than doubled to $1 billion.

DirecTV said the average
monthly revenue per US sub-
scriber came to $85.47, up 6.4
per cent. That’s due to price
increases, higher high-defini-
tion TV and digital video
recorder fees, higher advertis-
ing sales and an extra week of
revenue for its NFL Sunday
Ticket package.

DirecTV's Latin American
operations saw revenue rise
by 30 per cent to $779 million.
It added 221,000 customers in
the quarter, up from 148,000.

Jeffrey Wlodarezak, an
analyst at Pivotal Research
Group, said in a research note
that free cash flow came in
much better than expected.

He expects DirecTV to ini-
tiate a dividend once it releas-
es second-quarter earnings in
August, a way to return cash
to shareholders since growth
is slowing.











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INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

INSURANCE BROKERS & AGENTS

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