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.173



The Tribune



THE PEOPLE’S PAPER - BIGGEST AND BEST





A Te

SY

does the
future hold?

SEE PAGE 1C

PLP: Murder case

Dacniog far worse

Opposition hits
out at minister

THE Progressive Liberal
Party claims there are far more
than 257 murder cases pending
before the courts, despite what
was stated last week by Nation-
al Security Minister Tommy
Turnquest in the House of
Assembly.

Party chiefs last night said
Mr Turnquest must hold his
head in shame for what it calls
“lack of understanding and
capacity to understand matters
relating to crime and national
security”.

In a statement, the PLP
claimed the Free National
Movement administration has
produced no plausible initia-
tives to effectively deal with the
challenges affecting the country
as it relates to crime.

The opposition is demand-
ing an “immediate explanation
from the Minister of National
Security Tommy Turnquest as
to the reasons for the disparity
in the numbers of murder cases
pending”.

The statement claims: “First,
it cannot be correct that there
are only 257 cases pending. This
number is actually much higher.

“Between 2000 and 2010, 650
murders occurred in The
Bahamas, most of which

occurred under the inept
administration of the FNM. Of
this number, the police were
able to solve 466 murders and
place these cases before the
criminal courts.

“Tf the Minister is saying that
257 murder cases are pending,
it means that between 2000 and
the current, 209 cases were con-
cluded. This means that
between 2000 and 2010, at least
21 murder cases had to be con-
cluded each year either through
the court process or the case
was stopped for one reason or
another.

“This has not been the case —
what then is the true overall
figure of murder cases that are
actually pending before the
courts?”

Last week, Minister Turn-
quest revealed that up to April
30, there were 257 murder cas-
es in the system of which 130
persons are on bail and 127
were on remand. The PLP is
also questioning the status of
the audit which Attorney Gen-
eral John Delaney said he was
undertaking when he assumed
office.

“Minister Tommy Turnquest
must hang his head in shame

SEE page eight



USA TODAY.

BAHAMAS EDITION

www.tribune242.com

MONDAY, JUNE 21,

SETA

os

= : =
a aed

THESE YOUNGSTE

‘Legal talents’ reviewing
planned challenge to Public

Prosecutions appointment

By AVA TURNQUEST
Tribune Staff Reporter
aturngest@tribunemedia.net

LEGAL action chal-
lenging the Judicial and
Legal Services Commis-
sion's appointment of a
Jamaican national as
Director of Public Prose-
cutions could materialise
in less than two days.

A body of external
“legal talents” is currently
reviewing and providing feedback on the
document by which former Deputy Direc-
tor of Public Prosecutions Cheryl Grant-
Bethel plans to question the decision to

SEE page eight





CHERYL
GRANT BETHEL

erin signee nm beach cnn nie

2010

Ua ais

es



Scientists to investigate
suspected oil sightings
in Bahamian waters



By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net



SCIENTISTS and volunteers are
expected to set out today ona
five-day expedition to Cay Sal and
Bimini to investigate sightings of
suspected oil in the seas around the
Bahamas from the oil spill in the
Gulf of Mexico.

The International Maritime
Organisation (IMO) scientists and
volunteers will take sediment sam-
ples and test them on the Defence
Force vessel HMS Bahamas to con-

SEE page 15







ee 41

EN Yg



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

Vie a Cel
hoping to reach
‘the next level’

SEE PAGE TWELVE



COB defends
search for
president

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net





THE nation’s leading tertiary
institution has defended the
integrity of its presidential search
process against claims by its facul-
ty union of “conflicts of interest”
within the appointed search com-
mittee and the college’s council.

In a press statement yesterday,
the College of the Bahamas
(COB) called criticisms as “base-
less” and maintained its Advisory

SEE page eight

Dy









ah al

across the nation were out and about in the sunshine to celebrate Father’s Day.

MP says PM’s public
service actions are
‘procedurally flawed’

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net



THE actions of the Prime Minister
Hubert Ingraham, as Minister of the Public
Service, are “procedurally flawed”, accord-
ing to an opposition member.

MP for Fox Hill Fred Mitchell was com-
menting on the PM’s recent public state-
ments concerning the discipline of custom
officers and his comments concering the
former Deputy Director of Public Prosecu-
tions Cheryl Grant-Bethel.

“From the start, the matter seemed pro-
cedurally flawed with the Minister for the
Public Service the Prime Minister making
pronouncements in public about the fate of

SEE page eight



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PAGE 2, MONDAY, JUNE 21, 2010 THE TRIBUNE

LOCAL NEWS







wi ities & biscuit



ABOVE: Minister of National Secu-
rity Tommy Turnquest inspects the
guard along with Trinidad and
Tobago Commissioner of Prisons
John Rougier yesterday in front of
the Church God of Prophecy dur-
ing the Fourth Annual Conference
of the Association of Caribbean
Heads of Corrections and Prison
Services.
















See Stee al eel eel

aceboo : RIGHT: Superintendent of Pris-

4 ee ons Elliston Rahming speaks to
the Minister of National Security
Tommy Turnquest.





Create your future with our experience.

Renée Moore rises to
meet the challenge.

Renée Moore remembers playing and winning at Monopoly as a child. The thrill of
being the banker in a board game a5 an eight yearaold, led to a preference for working
In the banking Industry as an adult,

firs. Moore, who is a Fellow of the Association of Chartered Certified Accountants
(FOCA), fills the new position of Senior Manager, Forel Exchange Trading and Treasiry
at RBC. She has come full circle to REC, having started her banking career trading
foreign exchange at a company that was recently acquired by REC, RBTT Holdings,
in Trinidad in 1997.

Moore has held a Successive number of Senior positions in inwsury trading and liquidity
management. She was recently the country treasurer for a local bank, with responsibility
for the Bahamas, Cayman blands, Turks and Caicos, and the British Virgin Islands.

"| like the dynamic, fast-paced environment of Treasury, but more importantly helping
customers manage their exposure to foreign exchange risk,” she says. “I also love a
challenge and look forward to working with the team at RBC te ensure the bank
receives optimal retums on it funds and maximizes its revenue fron trading foreign
tachange,”

hirs. Moore is an Awana leader at her church and loves spending time with her family.

She is married ta Sean Moore and is the proud mother of a daughter, Danielle, with
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PHONE: 22-2157 eee

Felipé Major/Tribune staff

INDEX

MAIN/SPORTS SECTION

Local News

Local News

Editorial/Letters
P10,16,23
eae

CLASSIFIED SECTION 36 PAGES

REAL ESTATE GUIDE 20 PAGES

USA TODAY MAIN/SPORTS 12 PAGES

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



THE TRIBUNE

LOCAL NEWS

MONDAY, JUNE 21, 2010, PAGE 3



CTA

A TEAM of officers from
the traffic division in New
Providence have been flown

to Long Island to assist with :
the investigations surround- :
ing a traffic fatality that :
occurred shortly after 2am on :

Saturday.

Police at Long Island :
received information of a :
white Cherokee Jeep over- :
turning on Queens Highway :
in the settlement of Alligator :
Bay, near Roberts Hardware. :

The driver, David Adder- :
ley, 45, of Oneil’s, Long :
Island, was taken to a local :
clinic but died of his injuries a :

short time later.

¢ POLICE confiscated }
more than $60,000 worth of :
marijuana on Friday and }
arrested a 32-year-old resident :

of Hampton Ridge.

At 1.15pm, the Drug:
Enforcement Unit executed a ;
search warrant on a residence :

at West Ridge Estates.

Officers discovered a total
of 48lbs of marijuana witha :

street value of $67, 200.

Police are continuing their

investigations.

¢ POLICE are searching }
for two men who robbed a :
woman at Tyler Street, off :
Boyd Road, sometime around :

9.30pm on Friday.
The woman

was:

approached by man, one of :
whom was allegedly armed :

with a handgun.

It is reported the pair
robbed the woman of her :
handbag containing cash and :

personal items.

¢ POLICE are questioning :
a 29-year-old man of East :
Street in connection with a:
stabbing at Woodes Rogers ;

Walk.

At about 5.15pm on Satur- :
day, two men got into an ;
altercation which resulted in a :
46-year-old man of Pastel :
Gardens being stabbed multi- :

ple times.

The man is reportedly in }

serious condition.

¢ POLICE are investigat- :
ing a suspected drowning :
which occurred at Woodes :
Rogers Walk sometime }

around 10am on Saturday.

A man, in his 20s, was
found unresponsive floating :

in the waters.

It is believed :

he was diving when the inci- :

dent occurred.

Pest control in
the rainy season

THE rainy season is upon

us again, bringing with it chal- :
lenges of more pest control :
issues and contributing to off :
scheduled services such as :

garbage collection.

Together with the warm :
summer temperatures, pests :
such as flies, mosquitoes and :
rats are likely to produce in ;

larger numbers.

However residents can do :
their part by ensuring that their :
garbage is properly container- :
ised and that bins are cleaned :
and disinfected after being :

emptied.

This is also crab season, and
vendors must practice good :
sanitation by making available :
garbage receptacles during :
operation and that all of the :
waste generated is taken away
and disposed of properly. This :
will help to minimise fly nui- :
sances by reducing odour and;

food sources.

The more food, shelter and :
harbourage we provide for :
rats, the more success they :
would have in surviving in :
large numbers. Kitchen waste, :
discarded appliances and fur- :
niture, derelict vehicles and :
other debris provide the envi- }

ronment for this to occur.

Individuals, private and pub- :
lic entities and communities at :
large, are asked to shoulder :
their responsibilities by ensur- :
ing that their premises and :
places of occupancy and their :
communities are clean and that :
good garbage storage and dis- :
posal practices are carried out. :
Good sanitation habits will :
assist in controlling the rat pop-
ulation and other pests but :
unkept surroundings and indis- :
criminate dumping would do ;

the opposite.

TOSHIBA

Leading Innovation °>>

PM to be FIFA guest at World Cup

PRIME Minister Hubert
Ingraham left for South
Africa yesterday to attend
the World Cup in South
Africa at the invitation of
the International Football
Association (FIFA) and The
Bahamas Football Associa-
tion (BFA).

While in South Africa, Mr
Ingraham will be the guest
of FIFA. He returns to the
Bahamas on July 2.

Last year, The Bahamas
hosted the 59th FIFA Con-
gress. Since then the world
organisation has expanded
its collaboration with BFA
to assist in the improvement
of various facilities, as well
aS raise awareness of the
sport in The Bahamas.

The Bahamas Football
Association, with funding
from FIFA, is collaborating
with the Ministry of
Tourism, the Ministry of
Environmental Affairs and
the private sector Coastal
Awareness Committee in
cleaning up Malcolm Park
and installing recreational



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Ingraham is off to South
Africa, where teams such as
Brazil (right) are competing
for the FIFA World Cup.

facilities for the public,
including football facilities.
The Prime Minister is
accompanied by the Minis-
ter of National Security,
Tommy Turnquest and Min-
ister of Youth Sports and
Culture Charles Maynard.
Minister Maynard is trav-
elling officially. Prime Min-

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transformation of the Queen
Elizabeth Sports Centre into
a State of the art athletic
complex, including the
building of the new national
stadium.

During the Prime Minis-
ter’s absence from the coun-
try the Brent Symonette will
act as Prime Minister, and
Zhivago Laing, will act as
Minister of Finance, Sena-
tor John Delaney will act as
Minister of National Secu-
rity and Desmond Bannis-
ter will act as Minister of
Youth Sports and Culture.

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THE TRIBUNE

LOCAL NEWS

MONDAY, JUNE 21, 2010, PAGE 5



High visitor numbers
in first half of 2010

‘One of best ever quarters
in middle of a recession’



THE Bahamas has seen extraordinarily high
numbers of visitor arrivals in the first half of
2010, due in part to the innovative marketing
and promotion strategies of the Ministry of
Tourism & Aviation, Minister Vincent Vander-
pool-Wallace told participants of the tourism
apprentice programme.

“The first quarter of this year is one of the
best quarters we’ve ever had in the middle of a
recession,” he said.

“For the first six months of this year, the num-
bers are obviously not in yet, but in terms of air
arrivals, it is going to be one of the best six
months we’ve ever had in terms of Nassau/Par-
adise Island in particular. In terms of cruise pas-
sengers, the numbers are off the charts because
that volume of business continues to grow.”

Minister Vincent Vanderpool-Wallace was
addressing tourism apprentices, who had gone
through training postings that lasted for six
months. Now that the talented young Bahamians
had come to the end of their formal job training
and experience programme, Minister Vander-
pool-Wallace encouraged them to help make the
Bahamas to further develop.

In a few years, he said, the Bahamas would
develop to the point where many Bahamians
would be commuting from Family Islands to
work in Nassau.

“That’s the way grown up countries that are
archipelagos function,” he said. “There’s not this
business of somehow everybody is crowding in
one place because we have opportunities to begin
to expand and spread to a degree that is extra-
ordinary.”

Minister Vanderpool-Wallace emphasised that
the apprentices were selected based on their abil-
ities and not based on political patronage or
some other consideration. As a result of their
exemplary work, both the Ministry of Tourism &
Aviation and the Bahamas Hotel Association,
which partnered to create the programme, were






MINISTER OF
Tourism Vincent
Vanderpool-Wallace



devoted to looking to the young Bahamians for
future opportunities, he said.

More than 600 individuals applied for accep-
tance into the apprentice programme. After a
testing and interview process, the top candidates
were chosen. This means that the apprentices
were chosen above more than 500 other appli-
cants, Minister Vandrepool-Wallace said.

“Everybody in this room has proven them-
selves in some very special ways,” he said. “And
you have a commitment from the hotel sector in
particular and from the Ministry of Tourism that
the first place we look for employing anybody for
anything at anytime from this day forward is
from you.”

Robert Sands, president of the Bahamas Hotel
Association, was pleased that some of the more
than 100 apprentices accepted into the pro-
gramme were hired by various companies for
permanent employment.

“We were thrilled to know that a number of
you have already secured employment from this
programme or are in the process of being con-
sidered for employment,” he said. “We congrat-
ulate you and urge you to turn to this life-chang-
ing opportunity. I do not expect that all of you
would be employed as a result of this programme
but we knew that some of you would and that this
program was in fact meaningful and beneficial.”

Mr Sands said that those who have not yet
secured permanent employment should not give
up. He said they are now more marketable
prospective employees, and he urged them to
draw upon the knowledge, skills and contacts
they have earned through the programme.



PUSHIN’ DA ENVELOP



Educators set for lesson on preparing
young people for tourism opportunities

ONE HUNDRED of the
nation's educators will spend a
week in industry this summer
learning about the range of
careers and businesses in the
tourism industry and how to
better prepare young people for
its many opportunities.

The scheme is part of the
Bahamas Hotel Association's
seventh annual summer educa-
tor internship programme, in
collaboration with the Ministry
of Education (MOB), the Min-
istry of Tourism and Aviation
(MOTA) and COB's Culinary
Hospitality Management Insti-
tute (CHMI).

Public and private school
teachers, principals, counsellors,
and subject specialists will align
with local business partners to
get a hands-on"snapshot" of the
tourism industry and better
understand how critical their
roles are in preparing the future
workforce to make a meaning-
ful difference in our nation's
largest industry.

"We are thrilled to be able
to one again create this oppor-
tunity to strengthen and build
on the relationship we have with
the Ministry of Education and

educators throughout The
Bahamas. While tourism is the
lifeblood of our economy,
teachers are its soul which
touches and influences our
potential employees in pro-
found ways,” said Beverly Saun-
ders, of the Bahamas Hotel
Association.

With more than 1,000 classi-
fications of jobs within the
tourism industry in The
Bahamas, and countless entre-
preneurial possibilities, the
internship program presents a
powerful professional develop-
ment opportunity for educators
to enhance their understanding
of the industry and the oppor-
tunities it presents to young
people.

According to the programme
organisers, it is stimulating edu-
cators to explore new and inno-
vative teaching strategies to
bring tourism into the class-
room.

The internship program will
be held on Grand Bahama later
in the summer.

Approximately 50 educators
participated last year and organ-
isers expect to exceed that num-
ber this year.

The private sector is partici-
pating at several levels, con-
ducting workshops following an
opening ceremony on the
changing workplace, and a 'con-
versation with industry leaders’
on the opening day.

Approximately 15 hotels and
tourism-related businesses will
operate as placement and train-









ing sites for interns for three
days, and the internship experi-
ence will culminate with a final
day feedback and brainstorm-
ing session on strengthening the
partnership between education
and industry.

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THE TRIBUNE

FROM page six

A meeting of its National
Executive Committee, to
which I referred in my last
commentary, did not agree
to rotate its leadership from
Raphael Trotman to Ram-
jattan as expected.

Instead, the meeting
“reaffirmed its commitment
to the principle of rotation
of its top two candidates for
the 2011 election bid” and
deferred the matter to its
national convention later
this year.

Among the disaffected
leadership of the PNC, there
are those who appear con-
vinced that the PNC can win
the election on its own. The
only problem they see is
Corbin’s continued leader-
ship of the Party. As they
view it, if Corbin would step
aside and allow the party to
be reenergised and refo-
cused under its former
Chairman, Winston Murray,
the party would be a viable
contestant for both the glit-
tering prize of the Presiden-
cy and the government, both
of which have eluded them
since 1992.

Against this background
it is understandable why

MONDAY, JUNE 21, 2010, PAGE 7
2 of Guyana and its Presidency



=
*







SIR RONALD SANDERS

some of the leaders of the
opposition parties consider
it desirable to form a grand
coalition in advance of the
elections to jointly fight the
PPP. For, if the PPP does
not win an overall majority,
it would need a much small-
er number of votes to take it
over 50 per cent than would
the PNC, and doing that
deal would be considerably
easier than trying to cobble
together a coalition of 10
parties (9 opposition parties
that contested the last elec-

Minister assures
Parliament over Family

Island mail services



PUBLIC Works and
Transport Minister Neko
C Grant has assured Par-
liamentarians that his min-
istry will ensure to the
“greatest extent possible”
that mail and freight ser-
vices to Family Islands are
not “adversely” affected as
aresult of the reduction in
subsidies.

The reduction is one of
the measures outlined in
the 2010/2011 Budget
Communication to assist in
containing public spend-
ing.

During his contribution
to the debate, Mr Grant
acknowledged with grati-
tude the contributions of
mail boat operators to
nation building.

Challenges

“While there are certain
perceived challenges asso-
ciated with this subsidy
reduction, we do not con-
sider these challenges
insurmountable,” he said.

Mr Grant described the
10 per cent reduction in
mail boat subsidies as one
of the most “significant”
under his portfolio.

He said the reduction
would range from $526.99
per week at the lower end
of the subsidy scale to
$1,707.50 at the higher end
of the scale.

He committed to meet-

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.



ing with mail boat opera-
tors to resolve any diffi-
culties they may encounter
in operating within the lim-
its of the revised subsidy.

tions plus the WPA that did-
n't).

Putting together such a
grand coalition is by no
means easy. Agreeing ona
Presidential candidate may
be the least of the problems
which will include settling
the distribution of parlia-
mentary seats, ministerial
portfolios and a set of
agreed priority policies and
programmes to move the
country forward.

While the manoeuvrings
within political parties are
going on, policies have not
risen to the top of debates
within the country, but the
issues are becoming obvi-
ous, among them: a huge
gap between “haves” and
“have nots”; the need for
racial balance in public
appointments and crime.

Guyana’s recent eco-
nomic advancement under
Jagdeo has to be developed
to provide tangible benefits
for all the people. And, the
people — particularly the
young — will want to hear
how and when this will be
achieved.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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PAGE 8, MONDAY, JUNE 21, 2010

THE TRIBUNE

LOCAL NEWS

‘Legal talents’ reviewing
planned challenge to Public

Prosecutions appointment
FROM page one

choose a foreigner instead of appointing her to the Director's
post.

While the process may prove lengthier, Mrs Grant-
Bethel’s attorney and former bar president Wayne Munroe
said it would only be an increased benefit to take advantage
of the wealth of experience and expertise available before
finalising legal action.

The document will question whether or not Mrs Grant-
Bethel’s application was given due and fair consideration by
the commission and also the process by which all applica-
tions were considered.

The expected filing date is still set for on or before
Wednesday.

It was led by Mr Munroe that Mrs Grant-Bethel, who has
served as acting DPP in her role as Deputy Director, is
more qualified than the chosen candidate, Vinette Gra-
ham-Allen.

Ms Graham-Allen was a former Director of Public Pros-
ecutions in Bermuda and head of the Justice Training Insti-
tute in Jamaica.

Last week, while defending the decision of the Judicial and
Legal Services Commission (JLSC) in Parliament, Prime
Minister Hubert Ingraham hinted there were deeper issues
that prevented him from supporting Mrs Grant-Bethel’s
appointment. He had earlier identified her as a worthy can-
didate.

This admission has spawned much speculation over
whether or not Mr Ingraham had any influence in the
JLSC’s selection, and some opposition members have
demanded the PM disclose the information that influenced
his opinion.

FROM page one

Search Committee adheres to
standards established by inter-
national institutions. main-
tained the process was “open,
transparent and inclusive of all
core College community con-
stituent groups”.

The statement continued:
“The search committee was
established following consulta-
tion with respective College
community groups including
the various unions and associa-
tions. Decisions carried by this
search committee will be reflec-
tive of the collective and well
considered decision of its full
membership.”

Last week, following the
appointment of COB’s new
president Dr Earla Carey-
Baines and the retirement of
its Executive Director Dr
Rhonda Chipman-Johnson, the
Union of Tertiary Educators of
the Bahamas (UTEB) called
for the resignation of the Chair
and Vice-Chair of the college's
Advisory Search Committee.

UTEB identifed the college’s
actions, and the resulting cir-
cumstances, earlier this month
as evident of political influence.
The union also argued it was a
conflict of intrest for the two

COB defends

people, T Baswell Donaldson,
Chairman of the College Coun-
cil and Deputy Chair, Judith
Whitehead, directly responsi-
ble for hiring the next president
to also head the screening
process.

The institution did not ref-
erence UTEB’s argument,
however the statement high-
lighted the committee was
approved by the Council,
which includes the union’s
President Jennifer Isaacs-Dot-
son; and added the committee’s
faculty representative was
appointed on recommendation
from the union.

The Advisory Search Com-
mittee also includes: Dr Kreim-
ild Saunders, Faculty Repre-
sentative; Miriam Sands, Staff
Representative; Antonio But-
ler, Student Representative;
Wendy Warren, Alumni Rep-
resentative; Kenwood Kerr,
Alumni Representative; Cheryl
Simms, College Administrator;
Dr Timothy McCartney, Exter-
nal Academic; and former
Attorney General Sean
McWeeney QC, Community
Representative.

The committee is also sup-
ported by COB’s associate vice









president of External Affairs
Gabriella Fraser, who serves as
an Executive Secretary and
Search Coordinator.

The inistitution went on to
reveal it was currently in its
recruitment stage, the fourth
step in a detailed seven-step
process.

After a preliminary cadidate
list has been established, and
references verified, the com-
mittee will commence a two-
phase evaluation process.

The first phase features the
development of a short list of
candidates who will be inter-
viewed and culled to no more
than three candidates.

The second phase of the
evaluation process will engage
the remaining candidates sepa-

rately with the college commu-
nity for individual feedback.
The committee, after review-
ing community feedback, will
then make a reccomendation
to the College Council, who will
in turn seek the approval of the
Minister of Education.

The public is encouraged to
keep abreast of the search
process by visiting COB’s web-
site: http://www.cob.edu.bs/
Administration/Presi-
dentSearch.

The website continued: “Dis-
cussions with the preferred can-
didate will be held to ensure
provisional acceptance of an
offer should one be made. The
final recommendation will be
presented for final approval by
Council.”



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PLP: Murder case backlog far worse

FROM page one

for also misleading the Bahamian public regarding the Witness
Protection Programme (WPP). The FNM Government halted
the Programme and cut its funding when it first came to office
without scrutinizing the Programme and determining why it was
brought into existence,” the PLP stated.

The opposition also criticised Mr Turnquest for his remarks
regarding community policing. The minister recently stated
that community policing will not stop violent crime, although it
will have a dramatic impact on crimes such as house break-ins
and armed robberies. According to the PLP, more murders
have occurred during the commission of armed robberies since
2007 to the present than at any other point in Bahamian history.

“But this lack of understanding on the part of the minister is
much deeper as the Minister fails to understand that ‘the Police
are the community and the community is the Police’. This is how
crime is solved and is community policing at work. More mur-
ders and violent crimes are prevented and solved because of
community policing,” the PLP stated.

Mr Turnquest and FNM Chairman Carl Bethell could not be
contacted for comment.







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Applications are invited from suitably qualified candidates for two
(2) RHODES SCHOLARSHIPS to be awarded as follows:

(a) The Jamaica Rhodes Scholarship available to candidates from
Jamabta only; and

(b) The Commonwealth Caribbean Rhodes Scholarship, available to
all Caribbean candidates, excluding Jamaicans.

Candidates. must have undertaken academic training sufficiently
advanced to assure the completion of a Bachelor's degree by ist
October, 20171.

Manied candidates can now apply.

The criteria for selection by the Committees are as folbows:-



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RHODES SCHOLARSHIPS 2011



21 East Street, Kingston, Jamaica. Te/: 876-922-5960
orfrom www.rhodes-caribbean.com www.rhodeshouse.ox.ac.uk

MP: PI's public service actions ‘procedurally flawett'
FROM page one

the officers about whom in law he has no say. This is the same error
into which he has fallen with regard to Cheryl Grant Bethel whom
he now seeks to hound out of the public service,” Mr Mitchell.

Responding to the Public Service Board of Appeal ruling last
week, which reinstated veteran customs officer Adrian Smith, Mr
Mitchell advised officers to seek orders from court if decisions made
are not followed immediately.

“Sometimes, the response of the government is to ignore the
decisions of panels. The officers should know that in cases like these
if steps are not taken immediately to follow the decision made by
the Board, Mr Smith ought to proceed to court to get an order of
mandamus ordering the crown to follow the order,” he said.

Mr Smith’s dismissal, which came more than five years after he
was notified of disciplinary intent, was categorized as “unfair” by
the Public Service Board of Appeal.

Mr Mitchell noted the “Department of Customs under its new
leadership, the Public Service Commission under its new leadership
and the Department of Public Service” neglected to observe ele-
mentary points of public law concerning the rights of the public ser-
vant.

“It is heartening to see that the Public Service Board of Appeal
has reaffirmed the following: disciplinary action must be taken
proximate to the offense against discipline taking place; the officer
must be given the full facts and an opportunity to be heard; where
there are complex issues of fact there ought to be a hearing of the
matter and not as happened in Mr Smith's case a simple decision
on documents alone; if an individual has already been punished,
you cannot punish that officer a second time for the same offense,”
Mr Mitchell

The MP added the ruling should serve as a lesson to all leader-
ship of the public service.

“This must be a lesson to the leadership of the public service
from the Prime Minister to the Head of Customs that it is unseem-
ly to engage in high profile so called anti corruption exercises and
then fire people as if to some predetermined script. This is a coun-
try that supports and believes in the rule of law,” Mr Mitchell

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Proven Intellectual and Academic Achiewement of a high standard is
the first quality required of applicants, but they wal also be required to
show integrity of character, sympathy far and protection af the weak,
fhe ability ta lead and the energy to use their talent to the full

The closing date for Jamaican and Commonwealth Caribbean Rhodes
Scholarships 2011 application is September 20, 2070 by which date
all completed entry forms must be received by the Secretary.

The Memorandum which contains Details of the Scholarships as
well a the Application Form may be obtained from:-

THE SECRETARY

RHODES SCHOLARSHIP SELECTION COMMITTEE



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



THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 11

LOCAL NEWS











Letisha Henderson/BIS



AGRICULTURE AND FISHERIES cooperatives stakeholders attend the National Cooperative Congress
Forum at the British Colonial Hilton. The event, held under the theme “Overcoming Crisis in Challeng-
ing Times — The Way Forward” spans two days and brings together the leaders of the Cooperative
Movement to examine and define the path, the roadmap for the development of the sector.

Bahamian cooperatives
in ‘strategic position’

By ERIC ROSE
Bahamas Information
Services

COOPERATIVES in The
Bahamas are in a Strategic
position to utilise the oppor-
tunities of a more open
Bahamian economy to the
advantage of its membership,
claims Minister of Agriculture
and Marine Resources the
Hon Lawrence Cartwright.

“At a time when some peo-
ple feel that they are too small
to take advantage of the
investment potential in the
economy, cooperatives offer
these individuals strength
through the amalgamation of
their investment efforts,” Min-
ister Cartwright said.

He was addressing the sec-
ond National Cooperative
Congress Forum, held at the
British Colonial Hilton. The
event brought together the
leaders of the Cooperative
Movement to examine and
“define the path, the
roadmap” for development of
the sector, Minister
Cartwright said.

The liberalisation of trade
in the agriculture and fisheries
sectors will present enormous
opportunities for fishermen
and farmers that go beyond
catching fish or producing a
crop, he added.



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“The Cooperative organi-
sation for the agriculture and
fisheries sectors in 2010 has to
go beyond joint purchases of
fertiliser, feed and freezer
space,” Minister Cartwright
said. “From a strategic per-
spective the Cooperative of
2010 must be involved in the
marketing, warehousing and
manufacture of farm and fish-
eries products.

“Processing, packaging,
labeling and distribution net-
work components are integral
parts in these sectors and
those communities that can
organise themselves to
address the demands of the
new marketplace will reap the
benefits.”

Minister Cartwright said
that the small group of banana
or onion farmers in Abaco,
Long Island, Grand Bahama
or Andros, for example, that
grow those crops indepen-
dently, but use common ripen-
ing, drying and shipping facil-
ities into New Providence is
the beginning of the type of
cooperative organisation that
needs to be developed in all
Bahamian islands.

“The benefits from cooper-
atives are obvious — produc-
tion costs are lower through
the joint purchase of inputs,
the capacity of the ripening
machinery is effectively

ultilised, making the cost of
gassing a box of bananas
cheaper than if the unit was
used by a single individual at
half of its capacity,” he said.

Minister Cartwright pointed
out that perhaps the most
important of that is distribu-
tion.

He said that efforts made
at the field level to ensure
quality, pays dividends to the
individual farmer who demon-
strates to the buyer that, joint-
ly, the cooperative can deliver
a large volume of a consis-
tently good quality product.
This “fits in nicely” with the
cluster concept and is ideal for
supplying hotels, restaurants
and wholesalers, Minister
Cartwright added.

“This type of cooperative
effort at the major junctures of
production, marketing and
distribution can be repeated
in the livestock, handicraft,
fisheries and service sectors,”
Minister Cartwright said.

“This is particularly urgent
when the monetary benefits
to be gained of local seafood,
mutton, handicraft and horti-
culture are being lost to
imports due to the lack of
organisation and the need for
small investments in equip-
ment to guarantee a product
of consistent quality to the
consumer.”

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THE TRIBUNE



Cyclists
pedal up a
storm for

48-miles

ON Saturday, the New Prov-
idence Cycling Association and
Jeff's Auto Cycling Club hosted
a 48-mile road race in the South
Ocean loop of the island.

Youngsters Laurence Jupp
Jr and Jay Major displayed
great sportsmanship as they
competed against the strong
men’s field. Even though none
of them won, they provided
some stiff challenge for the top
contenders.

With two laps left in the
eight-lap race, Stefan
Krauskopf made a move as he
took the lead and Tracy Sweet-
ing tried to catch him. But both
Jupp Jr and Major stayed with
him and they made it an excit-
ing showdown.

In the end, however,
Krauskopf was just a little too
strong and he managed to surge
out front for the victory in two
hours, five minutes and 1.88
seconds.

Sweeting was able to hold off
the young stallions to finish sec-
ond in 2:05:36.32. Major ended
up in third place in 2:05:36.85
and Jupp Jr got fourth in
2:06:27.35.

Here’s a look at the final
results:

48 miles

Stefan Krauskopf —

2:05:01.88

Tracy Sweeting — 2:05:36.32

Jay Major — 2:05:36.85

Laurence Jupp Jr -

2:06:27.35

Van Demeritte — 2:06:57.38

Barron Musgrove —

2:07:25 .03

Robert Bethell — 2:22:42.53

Juniors 4-laps or 24 miles
Justin Minnis — 1:06:50.72
Rahiame Colebrook —
1:13:23.79

Antinece Simmons —
1:13:24.50

Roy Colebrook Jr -
1:18:45.79

Petron Lightbourn —
1:27:42.79

MONDAY, JUNE 21,





PAGE

0



2010

12
a r



PAGE 14 ¢ International sports news







Davis Cup team hopes to take
Bahamas ‘to the next level’

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net



he Bahamas Lawn Tennis

Association (BLTA) will be

sending the quartet of Devin

Mullings, Timothy Neilly,

Marvin Rolle and Justin Lunn

to represent the Bahamas at the Ameri-
can Zone II Davis Cup tie in Puerto Rico.
The team, captained once again by John

Farrington, will compete in the tie from
July 7-11 at the Parque Central de San
Juan, Calle Cerra Final in San Juan against
six other nations divided into two pools.

“We have a team that we are looking
forward to getting us to the next level,”
said BLTA’s president Stephen Turnquest.
“It’s going to be difficult, but we have a
good slate of players, so we should do very
well.

“The good thing is that at this level,
everybody is on an even keel, so I think we

stand a good chance of advancing. Most
of our young players have that desire to
get us back to Zone II and eventually to
Zone 1."

The top two nations in each pool will
compete in the “promotion” round-robin
pool July 10-11. Previous results against
nations in this pool are counted. The top
two nations will then be promoted to
Americas Zone Group II.

SEE page 14

Seminar warns athletes of dangers of
using performance enhancing drugs

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

BAHAMIAN athletes
should be aware of the dangers
of taking performance enhanc-
ing drugs to advance their
sporting careers after a one-day
seminar over the weekend.

Members of the World Anti-
Doping Organisation
(WADO), the Caribbean
Regional Anti-Doping Organi-
sation (RADO) and the
Bahamas Anti-Doping Com-
mission spent the entire day on
Saturday giving the stakehold-
ers in local sports the reasons
why they should refine from
doing so.

The one-day seminar, facili-
tated by both the Bahamas
Olympic Committee and the
Ministry of Youth, Sports and
Culture, was hosted at the Sher-
aton Cable Beach resort and
attracted a number of adminis-
trators, coaches, athletes and
officials from a number of
sporting disciplines.





DR ADRIAN LORDE speaks as Bahamas Anti-Doping Commission chairman Dr Jerome Lightbourne looks on...

"Being the first anti-doping
seminar ever held in the
Bahamas, I think it was suc-

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cessful," said David ‘Stretch’
Morley, the local co-ordinator
and Bahamian representative
on the Caribbean RADO
board.

"T didn't expect that many
young athletes to come out, but
they were the ones we were tar-
geting. So we are happy that
they came.”

Morley, however, said they
were a little disappointed that
more of the physical education
teachers, who have a direct
responsibility for the younger
athletes in the school system,
didn't take advantage of the
seminar.

"T think it was very success-
ful. They got the information
and the young athletes now
understand what we are talk-
ing about as it relates to testing,
banned substances and all the
rest of it,” he said. "We now
have the anti-doping commis-
sion that was appointed by the
government in 2009, so we just
have to piggy back on this and
go into the school systems and
the Family Islands to a wider
group of athletes."

Addressing the opening pro-
ceedings was Minister of Youth,
Sports and Culture Charles
Maynard, who praised the
Bahamas Anti-Doping Com-
mission, headed by chairman

Photo by Felipe Major

Dr Jerome Lightbourne, for the
work they've done so far in the
awareness of drug prevention
in sports in the country.

BOC president Wellington
Miller also addressed the audi-
ence. He said: “We are dedi-
cated to fulfilling our obliga-
tions as responsible members
of the international sporting
community and we are eager
to play our part in helping the
world of sports to get rid of any
cheaters that are out there.

“Let us remember that this is
more important than a few bad
apples or ignorance about the
effects of performance enhanc-
ing drugs. What is at stake here
is the very nature of sports and
its ability to help everyone to
build a better life for them-
selves and a better society for
us all.”

The presenters were Dr
Lightbourne, Neil Murrell,
regional director for RADO,
Dr Adrian Lorde, chairman of
Caribbean RADO, Tom May,
WADO’s senior manager for
programme development and
Maria Jose Pesce, director for
WADO's Latin America office.

They dealt with a wide range
of topics such as anti-doping

SEE page 14



BOXING

BRONZE FOR KNOWLES

THE Bahamas’ three-man
team to the Elite Boxing Cham-
pionships returned home over
the weekend with a bronze
medal.

Valentino Knowles, who last
year made history when he won
the country's first medal at the
World Championships, did it
again when he picked up the
bronze in Ecuador after he lost
his semifinal match to Juan
Romero of Mexico.

Knowles clinched his berth
into the semis after he defeated
Juan Abreu of the Dominican
Republic. Had he won his
match against Romero, he
would have gone on to fight for
the gold or the silver.

The other member of the
team, Carl Hield, lost his open-
ing bout to Myke Carvalho of
Brazil.

The two boxers were accom-
panied by coach Andre Sey-
mour. They are now preparing
for the Central American and
Caribbean Games that is slated
to take place in Puerto Rico
next month.

SPORTS
INBRIEF

TENNIS

KNOWLES/FISH

AT WIMBLEDON

MARK Knowles and Amer-
ican Mardy Fish are hoping that
they will have the success they
haven't gotten all year when
they play in the third Grand
Slam Tournament for the year
at Wimbledon. The tournament
is all set to get underway today
at the All England Club.

Knowles and Fish are the
No.13 seeds in the tournament
and will play their first match
against the team of Philipp
Marx of Germany and Igor
Zelenay of Slovakia. Daniel
Nestor and Nenad Zimonjic,
the defending champions, are
the top seeds. Last year's run-
ners-up, Bob and Mike Bryan



Italy held to
another WCup
draw, Brazil

advances...
See page 14

TAB seminar
set for next
Monday

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

BAHAMIAN track and field
enthusiasts often witness the
results and celebrate the suc-
cess of our elite athletes, how-
ever, one entrepreneur looks
to shed greater light on revo-
lutionizing training and recov-
ery.
Henry Butler, magnetic prac-
titioner and CEO of HAB
Enterprises, will introduce a
device that promises to assist
athletes with more effective
recovery and in shorter time-
frames.

Butler is scheduled to host a
seminar next week Monday
(June 28) at the Bahamas Hotel
Training College to unveil and
lecture on the Therapeutic
Apparatus for the Body
(TAB).

“Over the years, the
Bahamas has been fortunate to
be blessed with athletic talents
in numerous sporting disci-
plines that have resulted in us
being competitive in sports in
the region and internationally
for many years,” Butler said.

“As in any area, evolution is
a process that is constant, and
therefore it is imperative that
we stay on the cutting edge to
provide our athletes with the
best possible opportunity to be
successful. In this vein, I would
wish to introduce to you a
device that will assist athletes
with their recovery. Therapeu-
tic Apparatus for the Body
(TAB) is a proven device that
assists persons to recover in a
shorter period of time.”

Butler will be aided by some
of the Bahamas’ premier quar-
ter milers who have had posi-
tive experiences with the TAB
and vouch for its efficiency.

Former NCAA Indoor/Out-
door Champion and Olympic
1600m relay silver medallist,
Andretti Bain, fellow 1600m
relay silver medallist Ramon
Miller, and two time 1600m
relay medallist Nathaniel McK-
inney will share their experi-
ences regarding the use of the
technology.

"Presently there are Bahami-
an elite track and field, basket-
ball and volleyball athletes
using the device. I would like
therefore an opportunity to
demonstrate to coaches, ath-
letes and parents how this
device can be beneficial to ath-
letes during training and com-
petition,” Butler said.

"We have a great deal of
confidence that your athletes
will experience positive results
while using this device. If, after
the presentation you are still
uncertain about the device, we
are prepared to offer one free
visit to your athlete."

According to Butler, some
of TAB’s benefits include, a
reduction in the chance of
injury, shorter recovery peri-
ods, improved motor control,
improved range of motion and
flexibility, improved motor con-
trol, improved supply of oxy-
gen and nutrients, helps elimi-
nate the by products of exer-
cise, reduces pain and allows
deeper sleep periods.

All interested coaches, ath-
letes and parents are especially
invited to attend the seminar
which is slated to begin at
6:30pm.

are seeded No.2. Wimbledon is
the only Grand Slam title
Knowles hasn’t won. He
teamed with Nestor to win the
Australian, French and US
Open titles when they enjoyed
an 11-year partnership.

VOLLEYBALL

CONYERS CAMP

FOR another year, Jackie
Conyers will conduct her annu-
al Summer Volleyball Camp at
the Kendal Isaacs Gymnasium.
The camp for boys and girls is
scheduled to begin 9am today
and run through Friday.

Conyers will have returning
as instructors the husband and
wife team of Dell and Arlene
Hughes of Atlanta, Georgia, as
well as Bahamian coach Vanes-
sa Johnson-Henry. They will be
joined by a cadet of local coach-
es led by Glen Rolle.

SEE NEXT page

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TRIBUNE SPORTS

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

RETIRED American bas-
ketball coach Sam Nichols is
back in the Bahamas to host
his 11th version of Basketball
Smiles.

Scheduled to start today and
run through Friday at the C I
Gibson Gymnasium, the camp
will be divided into two sections
with the girls in action from
Yam to 12:30pm and the boys
will follow 1-4pm.

Patricia ‘Patti’? Johnson, the
most successful female and
junior high school coach in the
country, will be assisting
Nichols and coach Randy
Thompson, the vice president
of Basketball Smiles. A num-
ber of local coaches will also
be participating.

“With the increased staffing,
we’re going to be able to serve
more children than ever before
ad we’re excited about that
opportunity,” said Nichols, who
arrived in town over the week-
end. “We have the children of
the Bahamas in our hearts and
made a commitment 11 years
ago serve them through the
avenue of basketball.”

Johnson, who has ran an
impeccable girls basketball pro-
gramme at H O Nash for more
than two decades, said every
year Nichols has volunteered
his time to come to the
Bahamas and share his exper-
tise, not just with the players,

MONDAY, JUNE 21, 2010, PAGE 13

Coach ‘Patti’ to assist

11th Basketball Smiles











PATRICIA JOHNSON

but the coaches as well.

“For the kids, he keeps
preaching to them that basket-
ball could be their ticket to a
higher education, if they apply
themselves and he will do what-
ever he can to help them fulfil
their dreams,” Johnson said.

At present, Johnson said
Nichols assisted them in getting
four players to the Texas Chris-
tian University (TCU) basket-
ball camp. From there, the play-
ers will be going on to Tampa
to participate in another camp
before they return home.

“Since he has been coming
here, Sam Nichols has gone to
Eleuthera, Long Island, Andros
sharing the message that bas-
ketball is a positive thing if you
use it right,” Johnson said.

Once at the camp, which is
geared towards players in

grades 6-12, Johnson said they
hope to teach them the basic
skills, but more importantly,
she noted that they are look-
ing forward to the local coach-
es coming out and gaining the
knowledge to assist them in the
development of their own pro-
grammes.

After 32 years of coaching,
Nichols retired in May, 2007.
He spent his last 12 years as the
head women’s coach at
McMurray University where he
went on to become the all-time
winningest women’s basketball
coach.

Under his direction, Murray
made four NCAA post-season
appearances, including the
‘Sweet 16' in 2000. In 2006, they
were the American Southwest
Conference champions.

Nichols developed four All-
Americans, his players set 33
school records and he had 100
per cent graduation among his
players.

In 2006, Nichols was inducted
into the Women's Basketball
Coaches Association's 600 vic-
tory club, having posted a 70
per cent career winning per-
centage during his 32 years on
the bench.

For his success, Nichols was
inducted into the Women's
Basketball Coaches Associa-
tion's Hall of Honour in 1999.

Johnson is hoping that the
Bahamas will continue to be
the recipient of Nichols’ wealth
of knowledge for the 11th con-
secutive year this week.



IN BRIEF, from page 12

GYMNASTICS
STAR GYMNASTICS
OPEN HOUSE

BAHAMAS Star Gymnastics, the newest club
on the local scene, is scheduled to host an Open
House from noon to 3pm on Saturday at the
Source River Centre, formerly Bacardi plant.

During the opening, interested persons can
learn more about the club, meet the local coach-

ing staff and families.

In July, 2010, the newest gymnastics school
will launch its Bahamas Summer Camp-StarMa-
nia. On Saturday, interested persons can get their
application forms for the camp.

It is expected that the US Coach Partners from
New Mexico, Michigan, and Illinois will be in

Fi lefe) ate)



town to assist the organisers as they stage the

summer camp that is open to competitors
between the ages of 4-16.

Road.

BASKETBALL

SMITH SUMMER CAMP

THE second annual Sherman Smith Summer
Sporting Camp is set to take place from today
through July 23 at the Carlton E Francis Prima-
ty School on Faith United Way, off Blue Hill

The camp is slated to run 9am to 1pm for boys
and girls between the ages of 5-17 years. They will
get the opportunity to participate in basketball,

volleyball and soccer.

ANDS OF THE

mas

Camp director is coach Sherman Smith. Inter-
ested persons can contact him @ 341-6601.

TL ewes

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PAGE 14, MONDAY, JUNE 21, 2010

TRIBUNE SPORTS



INTERNATIONAL SPORTS



Italy held to another WCup
draw,

By CHRIS LEHOURITES
AP Sports Writer

JOHANNESBURG (AP)
— Four-time champion Italy
was on the wrong end of the
latest surprising result at this
year's World Cup, held to a 1-1
draw Sunday by New Zealand.
Brazil had no such trouble,
advancing to the round of 16
with a 3-1 win over Ivory Coast.

The defending champion
Italians got their only goal in
the Group F match in Nelspruit
from the penalty spot, further
exposing the team's lack of fin-
ishing power up front.

In the other group match,
Paraguay beat Slovakia 2-0 in
Bloemfontein.

New Zealand took the early
lead against Italy when Shane
Smeltz tapped in a ball that had
glanced off defender Fabio
Cannavaro. It was New
Zealand's only shot on goal the
entire match.

Vincenzo Iaquinta equalized
in the 29th from the penalty
spot after Tommy Smith
brought down Daniele De
Rossi in the area.

"Once again the opponent
scored on their first chance,"
Italy coach Marcello Lippi said.
"We were able to control the
game after that, but this was a
match we should have won."

New Zealand is playing at
only its second World Cup. The
Kiwis lost all three matches in
1982, but have two points from
two matches this time — the
same as Italy.

"I think that stopped the
nation," New Zealand coach
Ricki Herbert said. "It's the
most incredible result we've
had across the board. As a foot-

E10 CRO COR

tek



if

REFEREE Stephane Lannoy of France (center) shows a yellow card to Brazil's Kaka (right) during the World Cup
group G match between Brazil and lvory Coast at Soccer City in Johannesburg, South Africa, yesterday...

ball coach, it's way above any-
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possession for most of the
match.

Luis Fabiano gave Brazil the
lead in the 25th minute with a
hard shot from close range that
easily beat Ivory Coast goal-
keeper Boubacar Barry. He

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(AP Photo)

added another in the 50th, but
television replays showed that
the Brazil striker handled the
ball at least once, maybe twice.

"It's difficult to deal with
Fabiano, but it's even more dif-
ficult if he's allowed to use his

hands," Ivory Coast coach
Sven-Goran Eriksson said.
"They got a goal free. That's a
2-nil goal — that changed
everything.”

Luis Fabiano later admitted
that it bounced off his hand.

"It's true, the ball really
touched my hand and then my
shoulder," Luis Fabiano said.
"But it was involuntary. It was
one of the greatest goals I've
scored in my career.”

Elano scored the third goal in
the 62nd, but Ivory Coast strik-
er Didier Drogba pulled one
back in the 79th with a header.
Elano was carried off on a
stretcher just a few minutes lat-
er with an ankle injury after a
tough tackle.

Drogba was playing in his
second match since breaking
his right arm in a warmup
match on June 4. He came on
as a late substitute in Ivory
Coast's 0-0 draw with Portugal
on Tuesday.

Kaka was sent off with two
yellow cards, the second coming
in the 88th minute after Kader
Keita ran into the Brazil play-
maker and then fell to the
ground clutching his face.

"The red card was complete-
ly unfair," Brazil coach Dunga
said.

Enrique Vera and Cristian
Riveros each scored for
Paraguay, which leads the
group with four points after an
opening 1-1 with the Italians.

Vera scored the first goal in
the 27th minute, taking a pass
from Lucas Barrios and slip-
ping it past Slovakia goalkeep-
er Jan Mucha. "It was lucky
that I could score," said Vera,
who was named man of the
match. "The first goal came at

Brazil advances

the best moment in the first half
and then we wanted to keep
possession of the ball and the
second goal made us calm.”

Riveros added the second
goal in the 86th with a left-foot-
ed shot.

In France's camp, chaos
erupted again as the players
refused to train in protest
against Nicolas Anelka's expul-
sion from the squad.

Anelka directed a a profani-
ty-laced tirade at coach Ray-
mond Domenech, and after
refusing to apologize, was boot-
ed from the team.

The players said in a state-
ment read by Domenech that
the French federation did not
try to protect the group.

"As a consequence and to
show our opposition to the
decision taken by officials of
the federation, all the players
decided not to take part in
today's training session,"
Domenech read from the state-
ment.

France team director Jean-
Louis Valentin resigned amid
the trouble.

"Tt's a scandal for the French,
for the young people here. It's a
scandal for the federation and
the French team," Valentin
said. "They don't want to train.
It's unacceptable.

"As for me, it's over. I'm
leaving the federation. I'm sick-
ened and disgusted," said
Valentin, who walked away
from the training field, got into
a car and drove off.

Also, the man who allegedly
intruded on the England team's
dressing room after a World
Cup match was released on bail
and ordered to appear in a
Cape Town court on Monday.

Seminar warns athletes of dangers of
using performance enhancing drugs

FROM page 12

roles and responsibilities, test-
ing by RADO, athletes’ where-
abouts, doping control proce-
dure, the prohibited list and
therapeutic use exemptions and
WADO's education and infor-
mation programmes.

Swimming sensation Dioni-
sio Carey, one of the youngest
athletes in attendance, said he
was quite pleased with the
information he received.

“Tt was very informative and
I’m glad that it's coming into
effect in the Bahamas,” said the
13-year-old Queen's College
student, who hopes to repre-
sent the Bahamas at the 2012
Olympic Games in London,
England.

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to deal with all this. It’s better
to know it now than find out
about it five minutes before I
have to go through the
process."

If there was any aspect of the
seminar that left Carey amazed,
he said it was the whole process
which the athletes have to go
through to take their doping
test. But he admitted that with
a first hand experience of what
to expect, he feels confident
that he can handle it.

Murrell, the regional admin-
istrator for the Caribbean
RADO, said what they saw was
similar to a doping seminar held
recently in his home country of
Barbados.

“T believe that with the impe-
tus that has happened over the
last few weeks with Pauline
Davis-Thompson receiving a
gold medal from the 2000
Olympic Games in Sydney,
Australia, the educational
aspect of it, going into the
schools, will only benefit the
Bahamas in the long term,”
Murrell said.

As for the Caribbean region,
Murrell said collectively, “we
have received a great deal of
success in the past decade, espe-

cially the Bahamas.

“That success has had per-
sons looking at us at our ath-
letic programme, so it is impor-
tant for the Caribbean to get
all of its anti-doping pro-
grammes in place so that they
won't be able to point at us for
any infringements."

And May, the senior manag-
er of programme development
for WADA, said the seminar
was a great first step in the
introduction of anti-doping in
the Bahamas.

"It's quite evident from the
turnout here today, especially
with the young athletes, is a
sign that the Bahamas is head-
ing in the right direction," May
said. "So once the Bahamas can
educate all of its athletes and
coaches, they should continue
to have a rewarding athletic
programme."

But May said it's going to be
important for the stakeholders
to disseminate as much of the
information to all of its athletes
who didn't attend, and for the
sporting bodies to work closely
with the Bahamas Anti-Dop-
ing Commission to ensure that
they limit the amount of “drug
cheaters” in the future.

Davis Cup team hopes to take
Bahamas ‘to the next level’

FROM page 12

The bottom nation(s) in each
pool will compete in the “rele-
gation” round-robin pool July
10-11. Previous results against
nations in this pool are also
counted. The two losing nations
will be relegated to Americas
Zone Group IV.

Joining the Bahamas in the
round robin are Aruba, Bermu-
da, Costa Rica, Haiti, Jamaica
and Puerto Rico.

Making up the opposing
teams are:

Aruba: Clifford Giel,
Mitchell de Jong, Ricardo
Velazquez, Gian Hodgson
(playing captain).

Bermuda: Gavin Manders,
David Thomas, Neal Towlson,
Na’Im Azhar, Steve Bean (cap-
tain).

Costa Rica: Pablo Nunez,
Ignaci Roca, Federico Chavar-
ria, Fernando Martinez, Jose
Carlos Hidalgo (captain).

Haiti: Olivier Sajous, Joel
Allen, Jean-Marc Bazanne,
Nicolas Etienne, Louis Iphton
(captain).

Jamaica: Dominic Pagon,
Cadren Todd, Yussuf Migoko,
Damion Johnson (playing cap-
tain).

Puerto Rico: Alexander
Llompart, Eduardo Pavio-
Suarez, Jose Perdomo, Ricar-
do Gonzalez —Diaz, Jorge Gon-
zalez (captain).

Scheduling problems would
not allow the players to remain
in Puerto Rico for the Central
American and Caribbean
Games that are slated to begin
a week later.

So once the team returns
from Davis Cup, three of the
players will head back to Puer-
to Rico for the CAC Games set
for July 17 to August 1.

They are Mullings, Neilly and
Rolle, who will be joined by
Grand Bahamian Rodney
Carey. The team will be cap-
tained by Sean Cartwright.

On the women’s side, nation-
al champion Nikitta Fountain
will head the team that will also
comprise of Kerrie Cartwright
and Elanqua Griffin.

The BLTA is also hoping to
include Grand Bahamian
Larikah Russell on the team
that will be captained by Der-
ron Donaldson.

Both Fountain and Russell
were cut from the Fed Cup
team after they opted not to
play in the December Invita-
tional for various reasons.

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



THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 15
LOCAL NEWS



Scientists to
investigate
suspected
oil sightings

FROM page one

firm or deny the presence
of oil in Bahamian waters.

The scientists include
leading marine ecologist Dr
Ethan Freid and marine
biologist Kathleen Sealy
from the IMO.

Environment Minister
Earl Deveaux said: “The
group going to Cay Sal will
continue any pre-impact
assessment. This group will
do a more detailed assess-
ment than the first group.

“We are doing it to
ensure that we have docu-

mented proof of the condi-
tions that existed prior to
the impact of the Deepwa-
ter Horizon oil spill.

“The likelihood of fresh
oil coming to the Bahamas
is indeed remote. The oil is
approaching 60 days old
from the first spill. We are,
according to all the best sci-
entific information, likely
to get oil that is weathered
in the form of tar balls.
What we do not know
about is the expanse of the
dispersense and what
impact they would have and
that’s why we want to doc-
ument the conditions in
advance of any impact from
the Deepwater Horizon oil
spill so we can measure it
going forward.”

According to Mr
Deveaux, all the initial
expenses for the pre-impact
assessment is being handled
through NEMA.

“The companies in Grand
Bahama have in stock more
than 30 per cent of any nec-
essary equipment that we
would use if we were
required to respond to say,
Cay Sal, Bimini, Freeport
Harbor or West End. These
are the proximate areas
where the likelihood of
land fall would first occur,”
Mr Deveaux said.

More than 1,000 people
have volunteered to assist
in the oil spill clean-up
effort, said Mr Deveaux.

“T think the issue we
would have would not be
the number of persons will-
ing to assist but how we
would coordinate the level
of preparedness to assist to
make it most effective,” Mr
Deveaux said.

The Attorney General’s
office is exploring all legal
options in the event the
government has to seek rec-
ompense from any impact
the BP oil disaster has on
the Bahamas.

“We have taken the
information we have to
date, and the Attorney
General’s office is explor-
ing all of legal options with
respects to British Petrole-
um and the United King-
dom in the event we seek
recompose from any disas-
ter that hits the Bahamas.
We hope that none does,”
the Minister added.



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THE TRIBUNE

uUSINeSS

2010

MONDAY,

UnCeNgEoe 2 ies

SECTION B « business @tribunemedia.net



40% group fall ‘big bugaboo’ for hotels

By NEIL HARTNELL
Tribune Business Editor

* Group market, accounting for 25-30% of business, unlikely to rebound until late 2011



he “big bugaboo” for the
Bahamian hotel indus-
try’s turnaround is the
depressed group market,
a leading Bahamas Hotel
Association (BHA) executive has said,

that category - which accounts for 25-

30 per cent of business at many resorts
- having dropped by around 40 per

cent during 2009.

Frank Comito, the BHA’s execu-
tive vice-president, told Tribune Busi-
ness that while the hotel industry had

BISX hopes ‘milestone’
can open $3bn market

By NEIL HARTNELL
Tribune Business Editor

T H €E
Bahamas
International
Securities
Exchange
(BISX) is
“looking for-
ward to getting
more direct |
[primary] list-
ings in the
future” from
the Govern-
ment after last week completing
the secondary listing of the lat-
ter’s $300 million bond, hoping
to provide listing and trading
services for a market potential-
ly worth $3 billion.

Keith Davies, BISX’s chief
executive, told Tribune Busi-
ness that the exchange would
continue to promote its avail-
ability and ability to list all gov-
ernment-issued securities,
including Bahamas Govern-
ment Registered Stock (BGRS)
and Treasury Bill issues, fol-
lowing the listing of the $300
million bond that the Ingraham
administration placed with
international investors late last
year.

This is the first government-
related listing since the first
Ingraham administration, more
than 10 years ago, pledged to
use BISX in this manner for all
its debt securities issues, and
Mr Davies acknowledged it
would be “advantageous and
beneficial to all to have the
largest issuer of securities
involved” in the Bahamian cap-

DAVIES



* ‘Looking forward’ to
future listings and trading
of all government securities
issues, following secondary
listing of government’s
$300m bond

* BISX chief says Bahamas’
largest issuer, government,
‘must be involved’ to
develop capital markets

* Exchange awaiting listing of
RoyalFidelity fund, more
international recognitions
and approval of new Rules

ital markets.

Describing the $300 million
bond’s secondary listing as
“another milestone” in BISX’s
development, Mr Davies said:
“This is the first formal inter-
action with a government secu-
rity based on their decision to
list. It is a milestone in terms
of our future.

“It is the first of this type of
security to list in our market.
We are excited and pleased that
the Government saw fit to
place it on our market at this
time, and look forward to get-
ting more direct listings in the
future.”

Acknowledging that there
had been “discussion and talk”
about the Government, and all
its corporations and agencies,
listing and trading their respec-
tive debt securities via BISX,

SEE page 3B

Tax rises put truck import
costs above purchase price

By NEIL HARTNELL
Tribune Business Editor

CONSTRUCTION industry
costs will increase as a result of
the Government’s decision to
increase taxes on commercial
vehicle imports, the Bahamian
Contractors Association’s
(BCA) president telling Tri-
bune Business that this, com-
bined with all other import-
related costs, could be worth
more than the vehicle’s pur-
chase price.

Stephen Wrinkle, who heads
Wrinkle Development Compa-
ny, told this newspaper that the
2010-2011 Budget’s move to
raise the Excise Tax for com-
mercial vehicles from 60 per

Budget may
‘put brake on’
government

By NEIL HARTNELL
Tribune Business Editor

A LEADING businessman
believes some good may come
from the 2010-2011 Budget by
“putting a brake on the size of
government”, although he
acknowledged that the painful
austerity measures would fur-
ther prolong the Bahamian
economy’s recovery from one
of the deepest recessions ever
seen.

Franklyn Wilson, the Royal-
Star Assurance and Sunshine
Group chairman, told Tribune
Business that while the Bud-
get’s tax increases would

SEE page 5B

Absence of Budget incentives
means business sector will have
hard time getting out of recession,
says Contractors’ chief

cent to 85 per cent would
increase costs throughout the
construction industry, and fail
to achieve the Government’s
environmental objectives as
companies were likely to keep
high-polluting trucks on the
road for longer.

“It’s going to raise the cost
of doing business in the sector,
and force people to keep those
old trucks on the road,” Mr
Wrinkle told Tribune Business.

SEE page 4B

‘Lazy Budget’
under attack

By NEIL HARTNELL
Tribune Business Editor

A FORMER Chamber of
Commerce president has criti-
cised the Government for pro-
ducing “a lazy Budget” that
failed to display innovation in
creativity, instead imposing a
further burden on industries
that were already heavily taxed.

Dionisio D’Aguilar, who is
also Superwash’s president, told
Tribune Business that the 2010-
2011 Budget should have
imposed new tax regimes on
the local numbers/gaming
industry and telephone calls,
arguing that the Government
should have spread the burden
of some $100 million in tax
increases over a wider number

SEE page 4B

seen “positive movement in the right
direction” during the 2010 first quarter,
consistent with a 5.4 per cent rise in air
arrivals nationwide for the three
months of the year, group business
was unlikely to rebound fully until the

2011 second half.

“That’s the big bugaboo at the — ry
moment; the group business,” Mr
Comito told this newspaper. “When
you look at the contribution of what
we’ve been able to capture on the

* BHA executive says ‘a number of group negotiations in play now at a higher level
than we’ve seen for a few years’, but Bahamas in real fight to maintain market share

* Bahamas air arrivals up 5.4% for 2010 Q1, with cruise business ahead by 10.5%

* ‘Every dollar can make or break a deal’

leisure side, it’s been a very good sto-

“The group business represents 25-
30 per cent of business, and if we’re
not able to capture a good slice of that
because the market is not coming back

very strongly yet, we’re going to strug-
gle to capture the share on the other
side of it.”

Mr Comito added that he had “been
told by several hotels that group busi-
ness in 2009 dropped by roughly 40
per cent”, and the Bahamas was now

facing an increasingly competitive mar-
ket as it fought with numerous other
destinations to both maintain - and

increase - its share of a shrinking mar-
ket.

“Because of the fiercely competi-
tive nature of the group business, with

SEE page 6B

Car dealers: ‘We can’t give the house away’

By NEIL HARTNELL
Tribune Business Editor

THE 2010-2011 Budget tax
increases imposed on the auto
industry have already made
their presence felt prior to com-
ing into effect, forcing Bahamas
Motor Dealers Association
(BMDA) members to abandon
plans to “buy down” auto loan
interest rates as part of a five-
week promotion with Scotia-
bank.

Rick Lowe, operations man-
ager at Nassau Motor Company
(NMC), one of three partici-
pating dealers along with Exec-
utive Motors and Quality Auto,
told Tribune Business that the
companies had been forced to
ditch plans to “buy down” the
original 7 per cent rate being

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





Budget tax increases force motor dealers to abandon plans to
‘buy down’ interest rates on loans in promotion with Scotiabank

offered by the bank to potential
purchasers, because they would
effectively have “given away
the house”.

“We were going to buy it
down,” Mr Lowe said of the
original plans for the interest
rates, “but to give away all prof-
it with inventory as low as it is
and prices increasing dramati-
cally, we didn’t see the sense in
buying it down. It just wasn’t
practical.”

Originally, Mr Lowe said the
plan had been for the dealers to
effectively “buy down” the
interest rates attached to the
Scotiabank loans to as low as
4 per cent or 5 per cent, giving
new car purchasers extremely
low repayment rates for the
loan’s duration.

Yet, with the 2010-2011 Bud-
get’s increased rates and
amended Excise Tax structure
set to increase the price of all
autos sold in the Bahamas, Mr
Lowe explained to Tribune
Business: “We can’t give the
house away. We’ve got employ-
ees to worry about, salaries to
pay and bills to pay.”

He added that NMC’s sales-
persons had been disappoint-
ed with the outcome of the pro-
motion’s first week, but the
company and other dealers are
all going to “stick it out”.

“The people are coming, the
sales people had a few expres-
sions of interest, but it’s like
the Car Show. You have the
enthusiasm, but then people
have to get the loan,” Mr Lowe
said. “There wasn’t the amount
of interest in the cars that we’d



hoped, but it’s a good way to
promote the product. People
can see, touch and feel it, it
saves them going to several dif-
ferent places and we’re in busi-
ness, SO we’ve got to be there.”
He explained that Scotia-
bank was opening a different
branch each weekend to facili-
tate the lending requirements
of potential purchasers, in addi-
tion to showcasing its line of
mortgage and savings products.
The Government had origi-
nally planned to consolidate the
auto vehicle Excise Tax regime
down to two rates, 65 per cent
and 85 per cent, with the appro-
priate rate determined by
engine capacity. All vehicles
with less than 2,000 cc capacity
would have attracted the lower
rate, with the higher one
applied to all others.
Following representations
made by the Bahamas Motor
Dealers Association (BMDA),
Prime Minister Hubert Ingra-
ham amended his plans slightly,

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introducing a 75 per cent rate
for vehicles with engine capac-
ity between 2,000-2,500 cc - a
move he said would aid some
Honda, Mazda, Ford and
Hyundai models. All those
below 2,000 cc will still pay a
65 per cent duty rate, and those
above 2,500 cc, 85 per cent.

The former duty regime had
arate of 55 per cent levied on
vehicles with a value of $0-
$9,999. For vehicles valued at
$10,000-$19,999, the duty rate
was 60 per cent, and for those
valued between $20,000-
$24,999, 75 per cent. Only vehi-
cles worth more than $25,000
would carry a duty rate of 85
per cent. Commercial vehicles
were taxed at 60 per cent.

Mr Ingraham said this
change was not expected to
impact the Government's rev-
enue projections in any way,
and it would still stimulate con-
sumers to switch their buying
habits to smaller, more fuel-
efficient vehicles.

He acknowledged that there
were likely to be questions as to
why the Government had not
sought extra revenue by
increasing taxes on gasoline,
which were easily collectible at
the Bahamas’ borders.

Pointing out that a $0.01 per
galloon increase in taxes could
have generated an extra
$780,000 in revenue for the
Government, the Prime Minis-
ter said his administration had
decided that reducing the
Bahamas’ annual 78 million gal-
lons of gasoline consumption
was the way to go.





PAGE 2B, MONDAY, JUNE 21, 2010

THE TRIBUNE

@ ROYAL FIDELITY MARKET WRAP



market.

Investors traded in five out of
the 24 listed securities, with one
decliner and the other securities
remaining unchanged.

By RoyalFidelity Capital
Markets

IT WAS a moderate week of
trading in the Bahamian stock

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EQUITY MARKET

A total of 141,868 shares
changed hands, representing an
increase 109,525 shares com-
pared to last week's trading vol-
ume of 32,343 shares.

Doctors Hospital Healthcare
Systems (DHS) was the volume
leader and big decliner, trad-
ing 90,060 shares to see its stock
close the week down by $0.50 at
$2.

Commonwealth Bank (CBL)
followed, trading 49,000 shares
to close the week unchanged at
$6.30.

BOND MARKET

There was no activity in the
Bahamian bond market last
week.

COMPANY NEWS

Earnings Releases:

There were no earnings
releases from any of the listed
companies last week.

Dividend Notes:

Doctors Hospital Healthcare
Systems (DHS) declared an
extraordinary dividend of $0.02
per share, payable on June 22,
2010, to all shareholders of
record date June 15, 2010.

Commonwealth Bank (CBL)
has declared a dividend of $0.05
per share, payable on June 30,
2010, to all shareholders of
record date June 17, 2010.

Cable Bahamas (CAB) has
declared a dividend of $0.08 per
share, payable on June 30, 2010,
to all shareholders of record
date as at June 24, 2010.

Premier Commercial Real
Estate Investment Corporation
(PRE) has declared a dividend
of $0.20 per share, payable on
July 5, 2010, to all sharehold-
ers of record date June 4, 2010.





International Markets

FOREX Rates

CAD$
GBP
EUR

Commodities

Crude Oil
Gold

International Stock Market Indexes:

DJTA

S & P 500
NASDAQ
Nikkei

Weekly % Change
0.9798 1.36
1.4832 1.92
1.2387 2.30
Weekly % Change
$78.41 4.07
$1,257.10 2.43
Weekly % Change
10,450.64 2.35
1,117.51 2.37
2,309.80 2.95
9,995.02 2.99







To advertise in The Tritune -
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The Bahamian Stock Market

BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE CHANGE
AML $1.05 $- 208 -10.26%
BBL $0.30 $- 0 -52.38%
BOB $5.20 $- 500 -11.86%
BSL $9.42 $- 0 -6.36%
BWL $3.15 $- 0 0.00%
CAB $11.95 $- 0 19.74%
CBL $6.30 $- 49,000 -10.00%
CHL $2.60 $- 0 4.41%
CIB $9.81 $- 0 -1.80%
DHS $2.00 -$-0.50 90,060 -21.57%
FAM $6.07 $- 0 -6.47%
FBB $2.17 $- 0 -8.44%
FCC $0.27 $- 0 0.00%
FCL $4.58 $- 2,100 -3.98%
FCLB $1.00 $- 0 0.00%
FIN $8.90 $- 0 4.09%
ICD $5.59 $- 0 0.00%
JSJ $9.95 $- 0 0.00%
PRE $10.00 $- 0 0.00%

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THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 3B



Se =
Ministry of Tourism’s ‘new Dawn of Hope’

By NEIL HARTNELL
Tribune Business Editor

THE Ministry of Tourism is
hoping that 2010 first quarter
arrivals figures represent “a

Acknowledges Bahamians ‘in dire need of inspiration’, as youth
unemployment hits 26.2% or more than one in four

Cruise’s Costa Atlantica and
Costa Fortuna were the next
big contributors to the increase
in cruise passenger arrivals to
the Bahamas.

In 2009, Costa Atlantica did

Bahamas during the first quar-
ter. In first quarter 2010, Costa
Cruises brought in 348.5 per
cent more cruise passengers
than in the same period of 2009.
Carnival is the parent company

new Dawn of Hope”, acknowl-
edging that Bahamians are “in
dire need of inspiration” as a
result of the recession that has
battered this economy for
almost two years now.

With cruise arrivals for Nas-
sau/Paradise Island and Grand
Bahama as first ports of call up
by 22.9 per cent and 41.8 per
cent for the three months of
2010, the Ministry of Tourism,
in its latest market update,
acknowledged that while the
2010 first quarter performance
promised “new light” for the
largest private sector industry,
continued improvement
depended on the respective
strengths of the US, Canadian
and European economies.

“In the 2010 first quarter
arrivals to the Bahamas began
to see new light, as the per-
centage growth in arrivals con-
tinued their upward trek. At
the end of the 2010 first quar-
ter, foreign air and sea arrivals
to the Bahamas were up by 9
per cent (air arrivals were up
5.4 per cent and sea arrivals
were up 10.5 per cent),” the
Ministry of Tourism said.

“Stopover visitors to the des-
tination were up from the US
(primarily in March), Canada,
Europe, Latin America and
other parts of the world in gen-
eral. The only primary market
to the Bahamas that faltered in
first quarter 2010 was stopovers
from the Caribbean.

“March 2010 was really fruit-
ful this year and helped to pro-
pel first quarter arrivals up sig-
nificantly. In March and April
of each year, thousands of
spring-breakers converge on
the islands of the Bahamas as is
tradition.”

While US consumer spend-
ing had increased by 7 per cent
during the 2010 first quarter,
the Ministry of Tourism
acknowledged that whether the
improving trends continued
depended on if economic recov-
eries there and in Canada and
Europe could be maintained.

Charting the recession’s
impact on the Bahamas, the
Ministry’s update noted that
youth unemployment in this
nation had soared by more than
eight percentage points in one
year, hitting 26.2 per cent in

2009 as opposed to 17.6 per
cent the year before. The for-
mer figure means that one in
four young Bahamians cannot
find work.

In addition, household
income fell from $43,459 in
2008 to $38,314 in 2009, as the
recession took hold.

“The hotel sector in the
Bahamas was not the only area
affected by this economic reces-
sion that had begun in the Unit-
ed States,” the Ministry of
Tourism said. “Job losses in the
Bahamas began to occur in oth-
er industries as well.

“In 2009, industries in the
Bahamas such as: construction,
manufacturing (15 per cent
decline), transportation/stor-
age/communication sector (-22
per cent),
community/social/personal ser-
vice industry (this sector
includes the civil service, police
and domestic service), skilled
agricultural and fishery workers
(-26 per cent), the profession-
als/technicians/associate pro-
fessionals (-12 per cent) and
elementary occupation (-11 per
cent) all contributed to an

increased unemployment rate
in the Bahamas.”

Assessing the reasons behind
the increase in cruise passen-
ger arrivals, the Ministry of
Tourism said: “Most of the
increase by first port of entry
to the Bahamas overall came
from Royal Caribbean Inter-
national’s Oasis of the Seas.
Royal Caribbean’s Freedom of
the Seas helped to push the
increase in cruise arrivals even
higher. With the introduction
of the Oasis of the Seas and the
Freedom of the Seas to the
Bahamas itinerary, it increased
the number of passengers
brought in by Royal Caribbean
by 68.3 per cent.

“Carnival Cruise line’s Car-
nival Dream, Carnival Liberty,
Carnival Pride and Sensation,
together were the next big con-
tributors to the increase of
cruise passengers to the desti-
nation. Carnival Cruise lines
(by itself not including their
other cruise lines) brought in
17.7 per cent more passengers
in the 2010 first quarter than in
the same period of 2009.

“The combination of Costa



BISX, from page 1B

Mr Davies said the exchange’s focus was to
show it had the ability to facilitate all this.

“T have no doubt in my mind that even-
tually, in the future of the capital markets of
the Bahamas, that those [government] secu-
rities mentioned will be listed and traded on
the exchange,” he added.

Acknowledging that the Government
was likely to be focused on other issues,
the BISX chief said “that in the greater
scheme of things, look at the benefits” the
listing and trading of its securities via the
exchange would bring, in terms of greater
efficiency, better price discovery, more
investment options and enhanced trans-
parency and accountability for the capital
markets.

Mr Davies said the government securities
market could potentially be worth about $3
billion, with more than 100 BGRS and
Treasury bill tranches outstanding in the
market every year, new issues arriving and
others being retired.

“It is advantageous and beneficial to all
parties to have the largest issuer of securi-
ties involved,” Mr Davies said. “To the

extent that the Government of the
Bahamas can use the market to list, trade
and ultimately issue its securities ties in
directly to how quickly we will develop a
securities market for similar securities and
other securities in the marketplace. We
must have the largest issuer involved.”

Because it is a secondary listing, the $300
million bond, which carries a 6.95 per cent
interest coupon and is due to mature in
2029, will not add to BISX’s $3 billion mar-
ket capitalisation.

In this case, the $300 million bond’s pri-
mary listing is on the Luxembourg Stock
Exchange, meaning that exchange had pri-
mary responsibility for maintaining regu-
latory oversight of the security, ensuring
it adhered to reporting and due diligence
requirements.

Mr Davies said he would see if arrange-
ments to trade the $300 million bond could
be implemented in the Bahamas, given that
“some local elements” had invested in it.

He added: “TI believe that our Secondary
Listing Facility is an interesting option for
a certain type of security, specifically secu-
rities that are listed on another exchange
but that wish to retain ties to the Bahamas.

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

FINANCE CLERK Il - ACCOUNTS PAYABLE
FINANCE DIVISION

Securities listed in this fashion would be
primarily regulated by their primary
exchange, the securities would not be trad-
ed over the exchange, but BISX would
report the securities’ closing price from
their primary listed exchange.

“One of the things that we have tried to
develop at BISX is offering a variety of
listing options that meet the varied needs of
issuers in our market. We are excited by
this first ever debt listing by the Govern-
ment of the Commonwealth of the
Bahamas, and we eagerly await the day
when all Bahamian Government debt is
listed and traded in the Bahamas on BISX.”

Elsewhere, Mr Davies said BISX was
looking forward to another listing, that of
RoyalFidelity’s TIGRS II commodities
sub-fund. The exchange, he added, was
also looking to secure more ‘international
recognitions’, following on from the one
received from the UK’s Revenue and Cus-
toms authority.

“We have some recognitions that we are
focusing on,” Mr Davies said, adding that
BISX was also looking to advance and
implement new Rules for listing and issuers’
continuing obligations.

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(Accounts, Business Administration);
A minimum of 2-3 year experience;
Thorough working knowledge of the Disbursement Processing module
within the HTE environment;

Ability to operate the Call Accounting System and to post invoice data

for processing of payment;

1-Mlam, Coffee Brwak

10-Klam. Prewentation:

The Role of the Firaneceal Expert in | itigatiqn

fr. Ed Rahiming. Managing Director, Krys Rahening & Associates

1am. Pare

Diseyriesian:

“Wadoll Goes Oélchore; Gross order Insgheency saves”

fdoderatgr
Honorable Blzabeth 5S. Stong, U5. Baniruptcy Court, Basten District of New York

Panalets
“Mir, Bennett 1. erys, CEO and Rounder Krys & doce
Wis. Margot Micininis, Managing Director, kya & Associates

150 a.m. Closing Remarks

fir. Mennath W. Krys, CEQ) and Founder, Krys & associates









Computer skills and the use of related software (e.g., Cash Management

Software) and computerized spreadsheet tools to prepare reconciliation

and bank transfer schedules; and
Verbal and written communication skills to interact effectively with staff

and the general public.

Cast: $75 [includes registration, brealfest, and material)

Kindly RSVP to Sandra Carling, Krys Qabrning & Associates at sandra.darling@lkrysandassoc.com ar call (ade) $27-1ad?

Cheques payable to Krys Rahming & Associates

Tels evant haw been apne by

tht Bahiartars Bar Assocation) aed the Baharrias bettute of Chanened Accoustanes lor CLEP E credit

Interested persons should apply by completing and returning an Application

Form to: The Manager-Human Resources & Training Department, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau Bahamas

on or before: Friday, June 25, 2010.

About the Company

Ere he Aockatis hia firm dediorted io Corporate Recowery, Incheon, hones Accounting and Busnes Adwtiory Services, The firm
Currently bare offices in the Corian lands, the British Viegin dans, andthe Botamas. The Krys 5 Assoclries network & curently the

Mngt iid operiden group a! fine ia Whi Cavibbaan fost on inmcheiniey, hana rik: ackeunbig ind Ligaen duppO Mirch More
Morrrartion on the firm can be tound on ite website of way kre een: COM

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





PAGE 4B, MONDAY, JUNE 21, 2010

THE TRIBUNE



=
Tax rises put truck import costs above purchase price

FROM page 1B

“That is a catastrophe, because
we will have a lot of high pol-








































THE BAHAMAS SOCIETY OF ENGINEERS

Tite Public ic Condiolty Inurted Th attend
THE MONTHLY LUCE PRESENTATIONS
Hhisted hy The Baling: Society of Engineers

Vue bab
I uit ‘Thien
Proudly
Sypuniieereal
ley

(in

Wednesday, June 23, 2010

Guest Speaker

MR. KIRK GRIFFIN
Acting President & CEO

The Bahai Teleonmninications Coanpuny

Topir
"The Future of Teleconmmunications in the Bahamas
and the Role of Bahamian Engineers.”
PLACE:

GRAYCLIFF HOTEL AND RESTAURANT
Fast Hill Sirinet

Time: 12:00 pam. - [2:15
Registration aod Networking
12:15 - 1:15 Lonecheon

Flnwecal Members: S201
Stodlent Venere: $15.18)
Pablie : $25.00

luting trucks on the roads.”

Typically, specialist trucks
purchased for use in the con-
struction industry cost between
$50-$60,000, the BCA president
said, with the big Mack trucks
costing up to even $100,000.

“Tf you buy a $100,000 truck,
and add on duty, insurance,
freight and handling, that could
well be 100 per cent of the pur-
chase price,” Mr Wrinkle
added.

“You’ve got to recoup
$200,000, $220,000 on the vehi-
cle, which is more difficult to
do. The cost of sand, the cost of
fill, delivery costs across the
industry are going to go up.
Contractors and truckers are
not able to absorb these costs.
Any time these changes hap-
pen, you have to increase the

‘Lazy Budget’

FROM page 1B

price of the product.”

Assessing the Budget over-
all, Mr Wrinkle said that while
the Government had to tackle
the nation’s fiscal problems,
which included a rising nation-
al debt and fiscal deficit, it had
contained nothing to stimulate
growth in the Bahamian pri-
vate sector.

With firms in the construc-
tion industry “taking work
below costs to keep their doors
open”, the BCA president said:
“All in all, it’s not good news
for our industry.

“We are very cognisant of
the fact that the Budget needs
to be reviewed in accordance
with the debt burden the nation
is carrying, but the problem we
see in our industry is that there
is no incentive for corporate

the Government should not
have shied away from legalis-
ing, regulating and taxing the
numbers business.

He added that the Ingraham
administration should also have
taxed telephone calls, pointing
to the 5-6 per cent federal and
state levies attached to bills in
the US. However, he acknowl-
edged that the Government
might not want to tackle this
given the ongoing Bahamas
Telecommunications Compa-
ny’s (BTC) privatisation.

of industries.

“In my opinion, it was a lazy
Budget,” Mr D’ Aguilar told
this newspaper, “and it didn’t
look to be creative in taxing
other areas of the economy that
are coming up with new areas
to tax.”

Describing the Budget as “‘a
shock” to businesses in the
auto, liquor production and
light manufacturing industries,
the former Chamber chief said

growth, and with no incentive
for growth in the business sec-
tor, I don’t see how we will
move out of this stagnation
we’re in.

“Unless we put some incen-
tives in place that enable busi-
nesses to grow, we will have a
difficult time working our way
out of this recession. You can
only tax so much out of the
business community, suck so
much out of them, until they
start falling over one by one,
and they you will have no activ-
ity.

“It’s a very difficult scenario
we’ve got ourselves into, and
we just can’t load up on the
back of business and expect the
economy to grow.”

Mr Wrinkle urged the Gov-
ernment to focus on revitalising

the housing market, telling Tri-
bune Business that “without the
housing sector moving forward
we'll be very hard-pressed to
resurrect this economy inter-
nally”.

The BCA president added
that this nation appeared to be
“hitching the wagon to two
horses” in the shape of “big
guns” Kerzner International,
with its planned $100 million
Atlantis expansion, and Baha
Mar’s $2.6 billion Cable Beach
project.

“There’s commercial space
available all over Nassau, so
there’s very little commercial
work going on, and the housing
market is flat,’ Mr Wrinkle
said, pointing to the numerous
foreclosed properties being
advertised in the newspaper.

under attack

Pointing out that apart from
the hotel industry “the whole
service sector is undertaxed”,
Mr D’Aguilar told Tribune
Business: “It would have been
better for him [Mr Ingraham]
to spread a higher burden over
a greater number of people as
opposed to a heavier burden
over a smaller group of people.

“He hit hard the hotels, an
area in distress right now, and
the motor vehicle people. He
hit those two sectors very, very
hard, and I think a little bit
more could have gone some-
where else and exacted more
revenue.

“T understand the need to

come up with more revenue,
but a little more thought could
have gone into raising addi-
tional taxes from other sectors
of the economy. The services
sector is completely under-
taxed. They should have
reformed the Business Licence
Tax to yield a little more from
those companies that are better
able to afford it.”

Mr D’ Aguilar said the num-
bers business, telephone calls
and high profit, low sales com-
panies in the services industry,
especially law firms and
accountants, were the sectors
the Government “could have
exacted taxes from”.

Ua S/T
RMR BRC
US eT are A



If posable please confirm your attendance by email

Tres eee ee |leciitin milano

United Bahamas Prison Ministries

Brand New House

Raffle - June 26th, 2010
Get Your Tickets Now-2 for $100.00

Ticket Outlets

4. How Seo, Nose, Beals
Tels 22-40-3344

wow) bu laniseneineers re

. Scotiabank Main Branch, Rawson Square

. Let's Talk Wireless, Independence Shopping Center
Tonique Darling Highway / Formally Harold Road

NOTICE

The Public is advised that Clifton Heritage National Park
and its Administrative Office

Will Be Closed

from

Wednesday, June 23, 2010 To Friday, June 25, 2010 for
grounds maintenance and staff training.

. R.N.D Quality Convenience Store, R.N.D Plaza
J.F. Kennedy Drive

VICE PRINCIPAL NEEDED

The Anglican Central Education Authority
invites applications from qualified Bahamians
for the position of VICE PRINCIPAL of
St. John’s College High School beginning
September 2010.

TheApplicant must have a Degree in Education
from a recognized University, with at least 5
years accumulative experience. The applicant
must also be computer literate.

We will re-open for business at
9am on Monday, June 28, 2010.

Key job functions and

include:

responsibilities

We Regret Any Inconvenience Caused.

- Assisting with staff supervision and
evaluation

- Admissions and student orientation

- Scheduling (Timetables; examinations,
invigilations)

- Assisting with discipline

- Assisting with supervision of academic
programmes

- Assisting with Curriculum Development

- Administration of School and External
examinations

- Oversee Inventory

- Oversee Requisitions

- Share responsibility for sustaining culture
of excellence throughout the school

- Share responsibility for providing a
climate that fully develop the concept of
teamwork.

= FG

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES
rs

C2] 1 Aw TT.

ROYAL FIDELITY

rey an iaek
crc} T.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 18 JUNE 2010
BISX ALL SHARE INDEX: CLOSE 1,513.39 | CHG -0.04 | %CHG 0.00 | YTD -51.99 | YTD % -3.32
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
52wk-Low Daily Vol. EPS $ Div$

1.00 0.00 0.250

9.67 0.00 0.050

5.20 0.00 0.598

0.30 0.00 -0.877

3.15 0.00 0.168
0.055
1.408
0.511
0.460
0.111
0.627
-0.003
0.168
0.678
0.366
0.000
0.035
0.407
0.952
0.156 64.1

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste

Previous Close Today's Close
1.05 1.05
10.63 10.63
5.20
0.30
3.15
2.17
11.95
2.60

Change

5.20
0.30
3.15
2.17
11.95
2.60

2.14
9.62
2.56
5.00
2.23
1.60

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital

0.00
0.00
0.00
0.00
-0.04
0.00

6.30
2.47
2.00 2.00
Famguard 6.07 6.07
Finco 8.90 8.90
FirstCaribbean Bank 9.81 9.81
Focol (S) 4.58 4.58
Focol Class B Preference 1.00 1.00
Freeport Concrete 0.27 0.27
ICD Utilities 5.59
J. S. Johnson 9.95 9.95 0.00
Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Security Symbol Last Sale Change Daily Vol.
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
52wk Low Symbol Bid & Ask & Last Price. Daily Val.
7.92 Bahamas Supermarkets 10.06 11.06 14.00
6.00 Caribbean Crossings (Pref) 2.00 6.25 4.00
0.40 RND Holdings 0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)
29.00 ABDAB 30.13 31.59
0.40 RND Holdings 0.45 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months %
1.4752 2.54 7.00
2.9020 0.52 -0.11
1.5352 1.86 4.63
3.0368 2.57 -4.99
13.6388 2.03 5.56
107.5706 3.45
105.7706 3.99
1.1127 2.10
2.22
2.23
1.78

6.30
2.43

5.94
8.75
9.50
S75
1.00
0.27
5.00
9.95
10.00

0.00
0.00
0.00
0.00
0.00
0.00

5.59 0.00

5S2wk-Hi 52wk-Low
1000.00
1000.00
1000.00
1000.00

Interest Maturity

19 October 2017

19 October 2022
30 May 2013

29 May 2015

Application forms are available from
the Anglican Diocese office on Sands
Road off East Street. The completed
application together with a cover letter,
statement of educational philosophy and
a recent photograph must be sent to:

EPS $
“2.945
0.000
0.001

Div & P/E
0.000
0.480
0.000

4.540
0.002

0.000

0.55 0.000

52wk-Low
1.3787
2.8266

NAV 3MTH
1.452500
2.886947
1.518097

NAV 6MTH
1.419947
2.830013
1.505009

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund

1.4672 CFAL Money Market Fund

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
FG Financial Growth Fund
FG Financial Diversified Fund
Royal Fidelity Bah Int'l Investment Fund
Principal Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund
Principal Protected TIGRS, Series 2
Royal Fidelity Int'l Fund - Equities Sub Fund

THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION Authority
P. O. BOX N-656
NASSAU, BAHAMAS

6.99
13.50
5.19

103.987340
101.725415

103.095570
99.417680

1.0000
1.0000
9.1005

1.0917
1.1150
9.5078

6.29
5.65
6.39

10.0000 10.2744 -4.61 8.15

4.8105 7.9664 3.23
MARKET TERMS

YIELD - last 12 month dividends divided by closing price
cl Fi

58.37

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
ghted price for daily volume

ted price for daily volume
m day to day

The Deadline for Applications is
Friday, June 25th, 2010.

Weekly Vol. - Trading volume of the prior week
Change - Chang: EPS $ - A company's reported earnings per share for the last 12 mths
Daily Vol. - Number
DIV § - Dividends p:
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

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

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

NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100



THE TRIBUNE

FROM page 1B

inevitably depress the Bahami-
an private sector and economy
further, the Government’s fiscal
plans might halt the public sec-
tor’s uncontrolled and, some
would argue, unsustainable
annual expansion.

“In everything there’s poten-
tial good, and what it [the Bud-
get] might do is put a brake on
the size of government,” Mr
Wilson told this newspaper.

He recalled how, in 1992, the
first Ingraham government had
focused on two key pledges -
job creation and reducing the
size of government, so as not
to crowd out the creativity and
ingenuity of the Bahamian pri-
vate sector.

Questioning whether this
goal had been achieved, Mr
Wilson said: “Don’t forget, in
1992 it was ‘jobs, jobs, jobs’,
and to reduce the size of gov-
ernment so as to unleash the
full power of the private sec-
tor. They were his [Prime Min-
ister Hubert Ingraham’s] two
most repeated and sacred
promises to the country in 1992.

“We didn’t get to where we
are overnight. Maybe this Bud-
get might be an opportunity for
a new beginning to correct
some of the errors going on
from 1992, where the size of
government has been growing
at this exponential rate, even
though it was recognised in
1992 that what was happening
was not the right course.

“The Government said in
1992 it had a key goal. The key
goal was to reduce the size of
government. Eighteen years lat-
er, we should all ask the ques-
tion: Has that goal been met,
or are we on target to meet it?”

The businessman added: “If
you subscribe to the view that
our government is too big,
which was the view espoused
by the current political party in
1992, if it was too big then, what
about today? That’s the ques-
tion.”

Mr Wilson’s views corre-
spond to those of the Nassau
Institute think-tank and others,
who have argued that the
Bahamas has a public expendi-
ture problem at the root of its
persistent fiscal deficits and ris-
ing national debt, rather than
a revenue issue.

The 2010-2011 Budget focus-

MONDAY, JUNE 21, 2010, PAGE 5B
aS ee
Budget may ‘put brake on’ government

es almost exclusively on rev-
enue measures, seeking to
increase the Government’s
income by almost $200 million
year-over-year compared to the
2009-2010 fiscal year. The
Prime Minister told Tribune
Business he expected tax
increases, such as the rise in
hotel room tax from 6 per cent
to 10 per cent, to raise some
$100 million or 50 per cent of
this revenue increase.

Revenue

Indeed, Mr Ingraham’s post-
Budget presentation focused
almost exclusively on revenue,
comparing this nation’s 2008-
2009 government revenues as
a percentage of GDP, which
stood at 18 per cent, to the
higher yields generated by the
likes of Barbados, St Lucia, Sin-
gapore and Trinidad & Tobago.

Yet while the Government’s
projected recurrent revenues of
$1.492 billion for fiscal 2010-
2011 represent a rebound to
19.7 per cent of GDP, com-
pared to an estimated 17.5 per
cent of GDP in the current
year, the Bahamas will still run
a $62 million recurrent deficit.
The GFS deficit for the present
fiscal year is projected at 3 per
cent of GDP, even though

spending has been held con-
stant in nominal terms.

Meanwhile, Mr Wilson said
he would find it “very difficult
to argue against” those who
suggested that the Budget’s tax
increases on the private sector
would further depress the econ-
omy, and prolong recovery.

“All the theories I’ve ever
read, all the experts I’ve lis-
tened to, tell me a Budget like
this will have a depressing effect
on this economy,” he told Tri-
bune Business.

“All T can say is that whatev-
er the recovery estimate was
the day before the Budget was
announced, it [recovery] is
going to be further away than it
was that day.”

And he added: “Right now,
the country’s consumers are in
a foul mood, because today
they know their light bill is
going up, NIB payments are
going up, many civil servants
know income at best will be
flat, and for some it’s going
down.

“Many people employed in
these days must be asking
themselves whether they will
have a job in a few months.
Once people are in that mood,
it’s very difficult to make any
long-term capital investment
decisions.”

NOTICE

CHISWICK HOLDINGS LTD.
IBC NO. 140673 B

In Voluntary Liquidation

Notice is hereby given that the above-named Company
is in dissolution, commencing on the 18th day of June,
2010. Articles of dissolution have been duly registered by
the Registrar. The Liquidator is Kyrene Kelty of Nassau,

Bahamas. All persons

having claims

against the

above-named Company are required on or before the 18th
day of July, 2010 to send their names and addresses and
particulars of their debts or claims to the Liquidator of the
Company, or in default thereof they may be excluded from the
benefit of any distribution made before such debts are

proved.

Dated this 18th day of June, 2010

Kyrene Kelty
Liquidator



ie
———, ea
a eo Te

VACANCY

ARIA, he : mH ; At

A leading communications company has the requirement fora
Marketing & Sales Executive to lead these functions. This person will
be required to create an integrated strategy and realistic business
plans for all customer market seqments, products, pricing and sales
programs. Timely implementation of the plans is essential as the
objectives of new service launches, revenue and profitability are

demanding.

This person will be results focused and have proven achievements
including protecting existing revenues and growing new ones ina
communications company; training and organizing a multi-channel
sales and marketing team to deliver results on time and to budget;
innovation in services marketing, product quality and customer
value; and demonstrating that the marketing concept works at all
levels.

This appointment require a Masters degree qualification, plus a
minimum of 10 years’ experience In the international telecoms
industry including executive level decision making and awareness of
requiatory aspects. Experience of working in an overseas
environment with empathy to develop skills and local management
succession is also a requirement. This person will also have
extensive knowledge of the international communications market
and global expertise of other multi national communications
companies.

Resumes to be sent electronically to
rbadderleya@cablebahamas.com to arrive by Tuesday, June 22, 2010.

Cable Bahamas Ltd, Nassau Baha
Robinson Bd.at Marathon

re ge pe,
ae ee eye 4
Pe me at eter taeda

JOB OPPORTUNITY

Marketing Manager

The successful candidate must possess the following:

A creative thinker with a knack for advertising and a history of creating
bie ideas,

A proven track record of driving sales and significant organizational
impact.

Must be adaptable to a changing, fast-paced environment.

Able to deal with a va rieby at personalities and situations with energy
and enthusiasm.

Able to work ina culture/environment that promotes an entrepreneu-
rial spirit and a “let's get it done now" attitude.

Focus on possibilities rather than problems.

Strong customer orientation.

RESPONSIBILITIES:

Develop and execute effective local marketing plans that support
annual key initiatives.

Lead efforts to effectively plan, execute, measure and evaluate local
market activities.

Direct media planning and graphic design.

Establish and cultivate PR/media relationships.

Develop and Manage budgets.

Customer Relations and management of complaint process.

Build community poodwill and manage relahonships with influential
Organizations.

Serve as the bocal steward of the brand, ensuring all local marketing
activities are aligned with established brand standards.

REQUIREMENTS:

Bachelors degree in Communications, Marketing or a closely related
held or equivalent work experience.
Minimum tive years protessional related experience

COMPETITIVE SALARY & ATTRACTIVE BENEFIT

Send resumé to: marketinemanagerwantedi@email.com

Deadline for application is Wednesday, June 28th, 2010



KL. Hen. Hubert A. Ingraham

PROCLAMATION

WHEREAS, the Secunties Commission of The Bahamas is a quas governmental agency,
which exercises statulory powers under the Securities Legisaion (the Securities Indwsiry Art,
1995; Secunties Indusiry Resquiations, 2000; the Investment Funds Act 2003; the Investment
Funds Regulations, 2003 and the Financial and Corporate Service Providers Act, 2000};

AND WHEREAS, the Secunties Commission of The Bahamas was established to maintain
surveillance aver the securities markel so as to ensure thal orderly, fair and equitable dealings
prevail within the secior.and among indusiry professionals, and 0 creale and promote conditions
ho ensure the orderly growih and develooment of the capital markets;

AND WHEREAS, the Securities Commission of The Bahamas ig responsible for regulating the
Bahamian securiies industry, including market inlermedianes, secondary markels and
inwesinnant funds:

AND WHEREAS, in support of its objectives The Commission proposes fo set aside a week to
engage in aciviies which serve fo inform the public of the importance of its role as a securiles
regulator,

NOW, THEREFORE, |, Hubert A. Ingraham, Prime Minister of The Commonweath of The
Bahamas, do hereby proclaim the weak beginning Monday, 21" June, 2110 and ending Sunday,
27 June, 2010 as “SECURITIES COMMISSION WEEK™

IN WITNESS WHEREOF, | hava
hereunin sed my Hand and Seal

this 11 day ol shine, 2040

HUBERT A, GRAHAM
PRIME MINISTER =~

a



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



PAGE 6B, MONDAY, JUNE 21, 2010

THE TRIBUNE



O% group fall ‘big bugaboo’ for hotels

FROM page 1B

every destination clamouring
for a share of it, every dollar
may make or break securing
the business,” the BHA execu-
tive told Tribune Business.
“We’re hoping the group
business side will show some
positive signs. There’s a signif-
icant interest in the Bahamas
as an option. There are a num-
ber of group negotiations in
play now at a higher level than
we’ve seen for a few years, but
we’re competing in a highly

competitive market for busi-
ness.

“We'll hopefully see some of
those groups translate into
increased business, and antici-
pate that if they can be finalised
in the coming months we will
see the fruits early next year,
with a stronger rebound later
in the year.”

Mr Comito’s comments back
those of George Markantonis,
Kerzner International
(Bahamas) managing director,
who last month said group busi-
ness levels for many Bahami-
an resorts were unlikely to

To Our Valued Customers:

The Tommy Hilfiger Store in the Mall at
Marathon and Fab Finds Gift Shop in the
Harbour Bay and Lyford Cay shopping

return to pre-Lehman Broth-
ers collapse levels until “late
2011”.

Increase

While Atlantis had seen a 35
per cent increase in its leisure
travel bookings for 2010 year-
to-date, the same did not apply
to its groups/conventions/meet-
ings business.

"We have not seen the same
upturn in groups and conven-
tions. That business remains
flat," Mr Markantonis said,
conceding that previous esti-
mates of an early 2011 recovery
in this market were unlikely to
hold true.

"I think we were probably
too optimistic as an industry,"
he added, emphasising that he
could not speak for the sector
as a whole. "If it's going to
come back, it will probably be
in the latter half of 2011. We
have a lot of tentative groups
for next year, people who have

not signed contracts. I'd feel a
lot better if we could get those
thousands of tentative room
nights signed.”

Mr Markantonis said many
meeting planners, who directed
where conventions business
went, were biding their time to
exploit the number of deals cur-
rently in the market.

Group bookings are critical
to Bahamian hotels because
they represent a big chunk of
business that is often booked
months/years in advance, thus
giving them a base around
which to structure and arrange
leisure bookings.

However, due to the credit
crunch and global recession,
budgets for overseas meet-
ings/conventions are among the
first to be cut by major corpo-
rations. In addition, there is still
much stigma attached, with
companies not wanting to be
seen to be treating executives to
a tropical paradise getaway
amid so much unemployment

and suffering, especially if they
received taxpayer funds from
a US government bailout.
Still, there have been some
glimmers of hope for the
Bahamas, with Ministry of
Tourism data released last
week showing that air arrivals
to the Bahamas were up 5.4 per
cent year-over-year for the 2010
first quarter, standing at 344,248
compared to 326,569 last year.

Period

For the same period, cruise
arrivals were up by 10.5 per
cent at 1.039 million, compared
to 939,541 last year, and for
March they were 17.3 per cent
up on March 2009 compara-
tives.

Overall, total visitor arrivals
to the Bahamas for the first
three months of 2010 stood at
1.383 million, some 9.2 per cent
ahead of 2009s 1.266 million.

“Tt bears out what we’re see-
ing for the first three quarters
of the year on occupancy levels,
and it’s showing some move-

ment in a positive direction,
which is a good sign,” Mr
Comito told Tribune Business
of the Ministry’s arrivals fig-
ures.

He acknowledged, though,
that the Bahamian hotel indus-
try’s performance was still some
way down on 2008 figures prior
to the Lehman Brothers col-
lapse, and said: “We’ve got a
little ways to go to catch up
with 2008, but we’re moving in
the right direction. We’re about
where we thought we would be.

“We’re capturing, in large
part due to the Companion Fly
Free programme, a good mar-
ket share of the leisure mar-
ket.”

Mr Comito said the “last
minute booking environment”
meant it was still difficult for
the hotel industry to predict
long-term business levels “with
any real degree of confidence,
but added that early indications
showed that for the next two
months there would “hopefully
be some growth over last year
on occupancy and arrivals”.

centres will be closed for

STAFF FUN DAY

on Wednesday 23" June 2010.

We apologize for any inconvenience. We
will reopen with normal hours as of
Thursday 24" June 2010. We thank you for
your understanding and continued support.

COOMAADNTETULL TH. OTHE BARU pees pe: COURT aida

IN THE SUPREME COURT Mir 12 ano TE qa)
iL



Common Lew atl Eqaig Divieion =|
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NOTICE is hereby given that VINCENT ROBERTO
KNIGHT of ST. ANDREWS DR. #15, P.O.BOX-SS6311,
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 14" day of JUNE, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



LEGAL NOTICE

KENOVA HOLDINGS LTD.

International Business Companies Act
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given in accordance with Section 138 (4) of the
International Business Companies Act, (N° 45 of 2000), KENOVA
HOLDINGS LTD. is in dissolution. Michella Callender is the Lig-
uidator and can be contacted at La Toscana, Calle Palladium, Casa
24-E, Corregimiento de Juan Diaz, Panama City, Panama. All persons
having claims against the above-named company are required to send
their names, addresses and particulars of their debts or claims to the
Liquidator before July 16th, 2010.

a : fi
Michela Callender
Lispaidasar

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT. 2000
No. 45 of 2000

was)












DREAMS HOLDINGS LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act,
(No. 45 of 2000), DREAMS HOLDINGS LIMITED.
has been completed, a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Registrar. The date of completion of the dissolution was
June 11th, 2010.

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LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4) of the
International Business Companies Act, (No. 45 of 2000), MATRIX
INVESTMENT FUND LIMITED is in dissolution. Mrs. Alrena
Moxey is in the Liquidator and can be contacted at Winterbotham
Place, Marlborough & Queen Streets, Nassau, New Providence, P.O.
Box N-3026, Bahamas.

All persons having claims against the above-named company are
required to send their names addresses and particulars of their debts

or claims to the liquidator before July 6th, 2010.

Alrena Moxey
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4) of the
International Business Companies Act, (No. 45 of 2000),
LMA INVESTMENT FUND LTD. (IBC No. 157581 B) is in
dissolution. Mrs. Alrena Moxey is inthe Liquidator and can becontact-
ed at The Winterbotham Trust Company Limited, Marlborough
& Queen Streets, P.O. Box N-3026, Nassau, Bahamas. All persons
having claims against the above-named company are required to send
their names addresses and particulars of their debts or claims to the
liquidator before June 24th, 2010.

Alrena Moxey
Liquidator

POSITIONS AVAILABLE

Concierge for Office Building
Candidate must have excellent
customer service skills, and be
computer literate. Must have
experience in a customer service
related role. Candidate should
be well groomed, mature and
self-motivated.

Security Officer for
Office Building
Candidate must be mature, have a
minimum of two years experience,
possess a clean Police record, and
have excellent verbal and written
communication skills. Candidate
must be willing to work weekends
and extended hours and have own

transportation.

Interested applicants should
respond by sending their resume to:
DA# 87780, c/o

The Tribune,

P.O. Box N-.3027,

Nassau, Bahamas



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



THE TRIBUNE

By CHRISTOPHER
BODEEN
Associated Press Writer

BEIJING (AP) — Currency
markets will closely watch Chi-
nese exchange rates Monday to
see how far Beijing will allow
the yuan to rise after announc-
ing the end of its two-year-old
peg to the dollar.

A stronger yuan would make
Chinese exports more expen-
sive and bring relief to foreign
manufacturers that have been
struggling to compete. But Bei-
jing plans to disappoint them,
saying Sunday there will be no
dramatic rise.

Beijing has long refused to
allow the yuan to float and

denied accusations that it is
unfairly undervalued.

But the Communist leader-
ship finally acceded to foreign
pressure to increase the
exchange rate's flexibility on
Saturday, a week ahead of a G-
20 summit at which President
Hu Jintao was likely to have
been hammered by critics of
the currency policy.

China, however, is still steer-
ing a path to economic recov-
ery, and with workers at home
demanding wage hikes —
which would also increase the
price of exports — the central
bank sought to curb specula-
tion of a major rise in the value
of the yuan, also called the ren-
minbi.

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"There is at present no basis
for major fluctuation or change
in the renminbi exchange rate,"
the People's Bank of China said
in a lengthy commentary Sun-
day on its decision a day earlier.

The statement implied that
China considers the current
exchange rate to be roughly
where it ought to be, and econ-
omists said they don't antici-
pate big swings in the yuan's
value.

Keeping it at a "reasonable,
balanced level" would con-
tribute to economic stability
and help restructure the Chi-
nese economy to put greater
emphasis on services and
domestic consumption instead
of exports, the statement said.

S

It said China will rely more
on a basket of currencies that
includes the US dollar to deter-
mine the exchange rate, rather
than the dollar alone.

China allowed the yuan to
rise by about 20 per cent begin-
ning in 2005, but halted that
two years ago to help Chinese
manufacturers weather the
global financial crisis.

Since then, the yuan's value
has been pegged to the dollar at
an exchange rate of roughly
6.83 to $1. The government sets
the rate each day before the
start of trading and retains pow-
erful tools to control its move-
ment.

Any sudden rise in the yuan
could ruin businesses already

MONDAY, JUNE 21, 2010, PAGE 7B
Markets to scrutinize China exchange rate

operating on razor-thin mar-
gins and cost job losses. It could
also drive down the value of
China's $2.4 trillion in foreign
exchange reserves.

Because of China's large
trade surpluses, the central
bank intervenes heavily in the
exchange market, buying up
excess foreign exchange earn-
ings to keep the yuan's value
from rising.

Although it mentioned few
specific steps and set no targets,
Saturday's announcement gen-
erally won praise overseas —
along with some criticism.

President Barack Obama
said the move would help pro-
tect the economic recovery,
while the European Commis-

sion said it would benefit "both
the Chinese economy and the
global economy."

But with China's economy
growing at double-digit rates,
boosted by four trillion yuan
($586 billion) in stimulus spend-
ing and record bank lending to
finance construction projects,
Beijing can afford to move
faster, some say.

"Just a day after there was
much hoopla about the Chinese
finally changing their policy,
they are already backing off,"
US Senator Charles Schumer, a
New York Democrat, said Sun-
day, adding that he plans to
move forward with a bill that
would punish Beijing for its cur-
rency policies.

BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

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PricewaterhouseCoopers has vacancies for qualified Senior Associates FINANCE DIVISION

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financial reporting process, including business process and information Bank Reconciliation, in the Finance Division.

technol t controls. ere Sas 8 is :
eennotosy management conor Responsibilities of the position include, but are not limited to the following:

Requirements . Preparing bank reconciliation for assigned bank accounts;

Preparing journal entries for accounting adjustments and banking
transactions (e.g., transfers between bank accounts, bank charges, re
turned checks);

¢ Proven experience in identifying, evaluating and testing information
technology and or business process controls, having worked in

the accountancy profession for a minimum of three (3) years. ; ; oo, ; .
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¢ A strong academic record and has a professional accountancy the general ledger:

qualification and/or the CISA qualification.

Providing source data with regards to employee and other returned

¢ Sound business awareness, excellent communication skills and
checks;

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¢ The ability to build and manage internal and external relationships. listings of returned cheques; and

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The positions offer challenging work in the financial services industry
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and other areas of industry and commerce. The salary scale, which

recognizes different levels of experience and skill, is designed to reward

high performance. In addition, the Firm provides excellent medical

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insurance and provident fund benefits. (
and the general public.

Please submit an application letter with your Curriculum Vitae to:

Interested persons should apply by completing and returning an Application
Form to: The Manager-Human Resources & Training Department, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau Bahamas on

or before: Friday, June 25, 2010.

Human Resources Partner

PricewaterhouseCoopers
P.O. Box N-3910
Nassau, The Bahamas

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







MONDAY, JUNE 21, 2010







By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



NO ONE wants to face the possi-
bility of unemployment, but at some
point we have to stop kidding our-
selves. I am willing to bet that the
employees at ZNS TV themselves
are desperate for ZNS to survive
primarily because they want to guar-
antee their future employment —
safeguard their ability to pay school
fees and mortgages — not because
they feel ZNS is something worth
fighting for.

Most of the employees at ZNS
have probably been frustrated into
bitterness over years of stagnation or
have accepted the fact that their
commitment to ZNS comes at the
expense of their physical and mental
health. Otherwise, they are new and
possibly oblivious of the rude awak-
ening in store for them.

In its present state, ZNS is a top-
heavy, gas-guzzling drain on the pub-
lic purse, important primarily for the
purpose of feeding our sense of
national pride. Iam wondering: Are
we so starved of a national identity
that ZNS is indispensable to who we
are?

Air Jamaica lost out on that
debate several months ago when the
government caved in to good sense
and sold the airline. Bahamasair may
eventually follow suit, with private
airlines now proving they can out-
compete Bahamas Air.

I am all for national pride. The
idea of a commercially competitive
national station sounds great, but
does it really work and is it sustain-
able? If ZNS is anything to judge by
the answer is obvious. A public
broadcasting system (PBS) sounds
good, which is where the govern-
ment says it wants to go, but unless it
works in reality and is not just a fig-
ment of someone’s imagination, then
at some point we need to muster the
courage to say, it’s time to call it
quits. And the question must be
asked: Can the same people who
have carried ZNS this far, carry it
into the future?

For much of its existence, ZNS
was the only player in the market.
Fortunately, today, there is an entire
Bahamian film and television indus-
try, complete with trained profes-
sionals and private enterprises. The
government needs to take a serious
look at whether it should still be in
the business of television. At the
very least, it needs to clearly redefine
the role of the government owned
television station and prove its rele-
vancy.

With almost a 50-year head start,
ZNS is still in a struggling position to
keep pace with private television sta-
tions that have emerged over the
past 10 years. At the rate of growth
in private TV, ZNS is on a collision
course with obsolescence.

It gives me no pleasure to say
that, but it is a fair conclusion drawn
from an objective analysis of the
actual television market place. In
1966 an anonymous government
official was quoted in a special Tri-



INSIGHT

The stories behind the news

INS: what does
the future hold’?



bune survey as saying, “If a poll were
taken, it would show that given a
choice, the average man on the street
would prefer to see American tele-
vision.”

This was at a time when TV
reception was considered “spotty”,
black and white was the order of the
day, and Bahamian television was a
mere proposition — its birth was
rushed in 1977 to accommodate an
election. Thirty-three years later, the
situation for ZNS TV has not
changed. There are more than 500
international television channels
available to Bahamians by way of
cable or satellite and a sufficient per-
centage of them are better than
ZNS.

In fact, if a Florida television sta-
tion decided to get into the business
of producing Bahamian news, ZNS
would probably lose some of its
viewers. This is not because ZNS
news reporters are not talented or
are not competent in presenting the
news; neither is it because Bahami-
ans lack national pride; this is



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because television viewers are gen-
erally more inclined to go for better
visual quality.

The digital era is decades away
from ZNS; it is still using analogue
equipment. This might not sound
like much, but look at it this way: If
you are dreaming of ZNS looking
like CNN, it is physically impossi-
ble by the very nature of the equip-
ment they use. With the govern-
ment’s recent budget cut, the dream
of modernization just slipped fur-
ther away, because new equipment
will inevitably be shelved to save
more jobs.

The outdated equipment at ZNS
is matched, in some instances, by its
outdated employees. The average
age of a ZNS employee is said to be
in the early 40s. Those who have not
been independently engaged in the
industry’s evolution, or participated
in professional development, are
likely to be out of touch with digital
advancements, much less the con-
verged media environment that now
exists.

No one should feel disillusioned.
The government knew from day one
that ZNS would not be financially
viable. It commissioned a study in
the 1970s to determine the feasibili-
ty of establishing a television station
in the Bahamian market. A team of
Bahamians, including Calsey John-
son, who was to become the first
general manager, travelled the world
looking at television models.
According to Mr Johnson, the con-
clusion of the study was: “In a small
market like the Bahamas the station
would not sustain itself; it would
need a government subsidy to get
on air and remain on air. From day
one we knew that would be a prob-
lem.”

If the government is going to have
to subsidise ZNS for the rest of its
life, I think it’s fair to ask that the
subsidies should work for the people
who want to create programmes that
market research indicates Bahamian
people want to watch. Let the subsi-
dies go towards making ZNS’ cur-
rent production facilities more acces-





sible to Bahamian producers and
film makers; towards making access
to production crews more afford-
able. Let the subsidies go toward
producing good television.

T also think it is fair to expect that
if the government is going to have to
subsidise ZNS for the rest of its life,
then ZNS should provide a service
that is indispensable. As it currently
exists, it simply does not.

With its abundance of religious
programming, the church commu-
nity might disagree, but perhaps it
could construct a good argument for
the profitability of a cable channel
called, Bible TV Bahamas. Church
people pay to play, so it is com-
pletely understandable for ZNS to
design its programming schedule
around paying customers, but it
leaves a lot to be desired for its over-
all programming schedule.

Few could argue that ZNS radio
is not an essential service, profitable
at that, but few could prove the same
applies to ZNS TV. If ZNS shut
down its TV broadcast station, most
people would simply have an emo-
tional reaction. They would long for
their daily routine of watching the 7
o’clock news. That is until they got
over it and switched to News Break
on Cable 12 at 7.30pm, which many
viewers already do.

There is very little by way of news
and current affairs programming that
is produced by ZNS that ZNS
reporters could not produce at other
private stations. In fact, they could
do so with more independence and
more resources.

Executives of the Bahamas Broad-
casting Corporation (BCB) got a
kick out of the outcry the other day,
when an episode of the current
affairs programme, Press Pass, was
cut from the roster. Observers pre-
sumed it was blatant censorship,
because the recorded show had
views that were sharply critical of
the BCB. Executives said the out-
cry was a sign that people actually
watch ZNS. But I am not so sure
they should be patting themselves
on the back.

The people most upset about the
failure to air the show were probably
the people who were actually on the
show. Given the fact that they are
media personalities themselves, they
would have had a readily available
public platform to express the per-
ceived public outcry. In fairness to
the commentators, the incident is
indicative of the Corporation’s his-
tory of censorship and politicization.
From the time ZNS became a mere
proposition, this was a concern.
Throughout its entire lifetime, this
has been its curse. Politicians them-
selves admit this is in ZNS’s DNA.

“Politicians have used ZNS as a
conduit for their information. Politi-
cians are concerned about one
aspect, the News. They aren’t con-
cerned about programming, because
most of the politicians only want to
see themselves on TV. They are not
interested in the other components
needed for national development,”

SEE page 2C



2009 COROLLA

Features include: Driver front airbag & front passenger airbag
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PAGE 2C, MONDAY, JUNE 21, 2010

ZNS: what does the future hold?

FROM page one

said Obie Wilchcombe, oppo-
sition spokesman on business.

I have good friends who
work at ZNS, who are going
to have my head for this arti-
cle, but for all the good that is
going on at ZNS today by tal-
ented, hard working journal-
ists, technicians and support
staff, ZNS should be the
undisputed leader in televi-
sion, and there should be no
need to justify the govern-
ment’s spending.

So what is the point of a
televisions station if a handful
of people are watching it, and
no one is making money from
it?

Unfortunately, the employ-
ees who are trying to trans-
form ZNS are building on a
compromised foundation. The
root problems are not of their
making and are largely

beyond their control. As hard
as it may be to swallow, I
believe the only sure fix is to
tear down the structure and
rebuild. Perhaps there is a sil-
ver lining in the $4 million
budget cut.

At this point, to restore my
faith in ZNS; to inspire me to
fight for its survival, someone
has to articulate a vision for
the national station that
makes sense for the twenty-
first century and beyond.
Short of that, I am prepared
for ZNS to die a natural
death.

This is not to say I do not
understand the importance of
a Bahamian film and televi-
sion industry. The Bahamas,
as with the entire developing
world, has suffered greatly
under the weight of Western

media imperialism. Our cul-
tural development has been
greatly stifled by the long-
standing influence of Ameri-
can TV in the Bahamas.
African people across the
globe lack power in their own
self definition, because they
lack media control.

The Broadcasting Act says
it is the duty of the BCB to
“maintain broadcasting and
televising services as a means
of information, education and
entertainment.”

The purpose Bahamian
television goes deeper than
this. Bahamian television is
essential for constructing our
own view of the world; telling
Bahamian stories and defin-
ing ourselves and the world
through our own eyes.

The programmes we pro-

duce reflect the way we see
the world.

A government owned tele-
vision station is only one vehi-
cle by which this objective is
achieved. And I could very
well envision a National Insti-
tute of Film and Television
with a $4 million budget serv-
ing this function more effec-
tively.

“Tbelieve as ZNS grows in
full maturity it could be a
viable entity.

“But do we have any sit-
coms on ZNS? No. Do we
have any sustainable local
programming? No. We have
up to this day not been able to
do so; to fill the hours and
hours of airtime with local
programming. There are no
documentaries, no features,
no sitcoms, no movies. There
is still nothing being done,”
said Mr Wilchombe.

“T believe the BCB has a



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role to play. (It) has always
been a vehicle for national
development. We have many
things to do to build this
country. We still do not have
a sustained number of televi-
sion documentaries, on the
people, on the environment
that is unique to the Bahamas.
We don’t have a production
unit producing sitcoms,
movies, or any programming
that allows for an absolute
total fulfilment of local tele-
vision needs,” he said.

Mr Wilchcombe, probably
unwittingly, placed the bur-
den of an entire industry on
the shoulders of one under-
funded government agency
with a questionable history.
When Lincoln Bain, the co-
host of Controversy TV,
a talk show aired on Channel
12, announced the launch of a
new Bahamian television
channel, VTV, earlier this
year, he said some of the very
same things with respect to
the new channel.

“Our focus is to be the
home of Bahamian sitcoms,
drama series, soap operas,
game shows, reality TV
shows, and investigative
reporting with or without the
Freedom of Information
Act," he said.

Bahamians needed to start
looking beyond ZNS and cre-
ate a vision for the Bahamian
film and television industry
for the twenty-first century
and beyond.

The role of ZNS in all of
that should be clearly defined
and its market specifically
stated.

It should not be competing
as a commercial entity, and if
it operates as a public broad-
casting station, it still needs a
mandate that is relevant and
essential.

That mandate needs to be
driven by a programming
vision for the future, guided
by market research. Person-
alities and programmes drive
television viewership.

Without local programming
that people want to consume,
neither a national television
entity, nor a Bahamian film
and television industry, will
be able to generate the critical
mass of viewers or the level of
profitability needed to stay
relevant and to survive.

Bahamian television does
not mean programmes that
are all about our national
identity, as it has been in the
past. It does not mean pro-
grammes that feature our
nation builders, the national
achievers, and all things that
make us proud to be Bahami-
an. Bahamian television
means good Bahamian pro-
duced programmes that peo-
ple want to consume.

Artificially creating a sense
of community by pushing
information on the public that
it does not want to consume
in that format does not work.
People usually love to feed
their egos, but in the case of
television, the public would
much rather choose from one
of the over 500-stations on
cable or satellite to be edu-
cated and entertained.

THE TRIBUNE

Our old vision of television
programming has run its
course.

My vision is for the gov-
ernment to use the $4 million
allocated to ZNS to build the
Bahamian film and television
industry, by supporting
Bahamians interested in pro-
ducing quality local pro-
grammes, and to create incen-
tives for the continued growth
of private television enter-
prises.

In material terms, ZNS
could become more of a
financier or production house,
where independent produc-
ers, with an understanding of
modern technology and mod-
ern tastes would have access
to the facilities and the
resources of ZNS to produce
programmes that could be
aired on ZNS’s broadcast
channel or sold to private sta-
tions.

The Parliamentary Chan-
nel could evolve to feature
political news and other polit-
ical programming from all the
islands in addition to show-
ing sessions on the House and
the Senate. This would satisfy
the desire for the politicians to
be seen on TV, and serve an
important information dis-
semination function.

A possible small in-house
team of journalists and pro-
ducers at ZNS would focus
on three to four core pro-
grammes, in different pro-
gramming categories, so that
during at least three or four
programming time slots a sig-
nature ZNS programme
would be aired.

These programmes would
have a clearly defined audi-
ence, and a clearly defined
objective. Private stations
could be mandated as a
requirement of their broad-
cast license to air at least one
ZNS produced programme
during a designated national
broadcast hour.

Perhaps I am giving the
private stations too much
credit; perhaps I am underes-
timating the level of profes-
sional interest amongst
Bahamians in the film and
television sector, but perhaps
not.

The bottom line is this: We
need to take on a greater
vision for the film and televi-
sion industry in the Bahamas.
The survival of ZNS is less
important than the actual
work that needs to be done
to achieve the industry’s
objectives. ZNS does not have
to shoulder the responsibili-
ty on its own, and it does not
have to be the entity to fulfil
the mandate.

Going forward, there could
be a role for a national televi-
sion body, but it is not the cur-
rent role ZNS is trying to
play. What is clear is that ZNS
has to radically, not incre-
mentally, change its vision,
structure and way of operat-
ing. Fortunately for us, the
industry has matured to a
point where we can now
speak of the mantle being
passed from ZNS to a new
era of television in the
Bahamas.









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THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 3C

INSIGHT

TORONTO

CANADA thinks it can
teach the world a thing or
two about dodging financial
meltdowns, according to
Associated Press.

The 20 world leaders at
an economic summit in
Toronto next weekend will
find themselves in a coun-
try that has avoided a bank-
ing crisis where others have
floundered, and whose econ-
omy grew at a 6.1 percent
annual rate in the first three
months of this year. The
housing market is hot and
three-quarters of the 400,000
jobs lost during the reces-
sion have been recovered.

World leaders have
noticed: President Barack
Obama says the U.S. should
take note of Canada's bank-
ing system, and Britain's
Treasury chief is looking to
emulate the Ottawa way on
cutting deficits.

The land of a thousand
stereotypes — from Moun-
ties and ice hockey to lan-
guage wars and lousy weath-
er — is feeling entitled to
do a bit of crowing as it
hosts the G-20 summit of
wealthy and developing
nations.

"We should be proud of
the performance of our
financial system during the
crisis,” said Finance Minister
Jim Flaherty in an interview
with The Associated Press.

He recalled visiting Chi-
na in 2007 and hearing sug-
gestions "that the Canadian
banks were perhaps boring
and too risk-adverse. And
when I was there two weeks
ago some of my same coun-
terparts were saying to me,
"You have a very solid, sta-
ble banking system in Cana-
da,’ and emphasizing that.
There wasn't anything about
being sufficiently risk-ori-
ented."

The banks are stable
because, in part, they're
more regulated. As the U.S.
and Europe loosened regu-

Canada’s economy suddenly envy of the world

IN THIS PHOTO taken June 7, 2010, workers install fences around the Toronto Metro Convention Cen-
tre that will host the G20 summit later this month, in Toronto. Canada thinks it can teach the world a
thing or two about dodging financial meltdowns. (AP)



lations on their financial
industries over the last 15
years, Canada refused to do
so. The banks also aren't as
leveraged as their U.S. or
European peers.

There was no mortgage
meltdown or subprime crisis
in Canada. Banks don't
package mortgages and sell
them to the private market,
so they need to be sure their
borrowers can pay back the
loans.

In Canada's concentrated
banking system, five major
banks dominate the market
and regulators know each of
the top bank executives per-
sonally.

"Our banks were just bet-
ter managed and we had
better regulation,” says for-
mer Prime Minister Paul

Martin, the man credited
with killing off a massive
government deficit in the
1990s when he was finance
minister, leading to 12
straight years of budget sur-
pluses.

"Iwas absolutely amazed
at senior bankers in the
United States and Europe
who didn't know the extent
of the problem or they did-
n't know that people in
some far-flung division were
doing these kinds of things.
It's just beyond belief," he
told the AP.

The Conservative Party
government of Stephen
Harper that took over from
Martin's Liberals in 2006
broadly stuck to his prede-

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(3) THE COLLEGE OF THE BAHAMAS

Visit our website aft wew.cob.edu.bs

Staff Vacancy

Applications are invited from suitably qualified persons for the following
position:

Director of Development, Alumni Relations & Development, who will
work closely with the AVP External Affairs and the President in facilitat-
ing, coordinating and providing leadership for the identification, cultiva-
tion, solicitation and stewardship of donors and management of volun-

teers. Internally, the Director of Development provides coordination,

guidance and support for fundraising activities across The College.

Specific duties and responsibilities include, but are not limited to, coor-
dinating and guiding College fundraising activities to ensure mtegrated
and consistent efforts to advance The College’s mission and objectives:
providing leadership and coordination in identifying, cultivating and
soliciting major donations and prospects; maintaining The College's
prospect management database and other institutional resources; con-
ducting proactive research to identify prospects and creating strategies to
match prospects’ interests to the priorities of The College.

Applicants should possess a bachelor’s degree with at least 7 years of post
degree experience; development and fundraising experience: strong
supervisory and planning skills and strong interpersonal and general
communication skills. For a detailed job deseription, visit
www.cob.edu.bs/hrapply.

Interested candidates should submit a detailed resume and cover letter
of interest no later than Friday, June 25th, 20/10 to:

Associate Vice President

Human Resources Department

The College of The Bahamas

Qakes Field Campus

PAO. Box N-4912

Nassau, Bahamas OR hrapply@coh.edu.hs

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THE TRIBUNE

GN 1071

SUPREME COURT

COMMON WE 40TH OF THE BARAMAS
THE SUPREME COMIRT
PROBATE BIVISHON

ho 20 PR ns prt

Wherus HHA WAWAE MLE of Mare Faria Reo of Ube Eastern District
of the Island of Mew Providers one of the Lalands of dhe Caneeiaccallh af The Babameae
bas make apolicalion te ihe Supreme Cioert of Uhe Gatames. for eters of adinasictiraaem of the
Beal ao! Posonal Esiatk of WILLLAM MILLER a.k.a. WILLIE MULLER aka
WOLLIART CAMPBELL, WIILLEOR late of Persis Rogers Home im the Wester Disines al

ihe Island of New Providence, one of the Islands of the Commonwealth of Qhe Bubenias.

ceceatecd.

Bogie: i hereby citer (hed gaach applicainoes vill be head) by the coil Cord al the

eqpiration of 4 dass fee the date heres

Nicoue

(foc) Registrar

COMMONWEALTH OF THE BAR AMLAS
THE SUPREME COURT
PROBATE DPW ISI

Mo 201 PROV 1 petisas

Wheres LCA LYNETTE RUSSELL of Mo. Lo Angel Read. Eastvrend
Subdiodsion in Ue Faster Dearest of the Island of Kew Prevkkonee di of the Islands of tee
Commamnwalth ot The Bahomas has mace application bo the Supreme Cseert of The Blatuarras.
for letters of aimiitcadion of the Reel and Personal Esta: of LIST FE. BSS ELL oko
LINDA ELIZABETH RUSSELL aka. LINDA RUSSELL bie of Ne. 1 Agel Mond
Easteae) Subdivision lia the Easter District of the Jelaind of Saew Providence, one of ihe
flan: of tee to ommonveealeh of The Bahamas. deceased.

Slolice is hereby given dhe such applications will be heal be the said Cour at Be

expiration of U4 daves from the dane beereced.

(for) Regiesirar

OMNIS WEALTH CH THE BALAMAS
THE SUPREME COURT
PROBATE DY LN

Bio SP Oper HST

Whereas IDELL RUTH SMITH of Sea Beach Estes in thee Ginnd of Mew
Providence one of the Ishads af the Commonwealth of Thee Tatoos has. made epplocetiom eo
the Supreme Court of The Bahamas, for betes of administrator of the Peal and Peranal Esteve
of MELSON PL SRT late of Sea Beach Estas fn dhe lala of New Providence, one of
the Islands. of the Commoanveeali of The Bebaoied, deceorcel.

Nanice is hereby given that such applications will be Beard by che eaid Court at the

expiration of §4 days from the dabe hereof

(for) Regisior

COMMONWEALTH OF THE BANAMAS
THE SUPREME COURT
PROBATE DIVISION

Where (LASSIETIA 2 MCINTOSH, of the City of Freeport on the Islnd of
Gran’ Bahama, one of ihe lends of dhe Commenwealth of The Aokomes, the Adionmey by
Dead of Power of for Theado Mcintosh, the lawful widow of the decemeed bas made
Spliscation to the Sepecme: Court of The Bahamas, for Lemers of Adenia of ihe Ren! andl
Penonal awaits of SEAN DELANO MCINTOSH, late of #5 Sandecebe Cree im the (City af
Freeport cn the Isiond of (romd Bahama, ome of the Islands of The Comeeniacalth of The
Bealeaitas

Natio: is here given thal sich agplieitiions will be heard by the sxid Court at the

expiration of 2) days from the detec heres
-



MONDAY, JUNE 21, 2010, PAGE 5C
INSIGHT



Canada’s

economy

is suddenly the
envy of the world

FROM page 3C

cessor's approach, though he cut taxes and,
when recession struck, pumped stimulus
money into the economy, with the result
that Canada again has a large deficit.

But it is recovering from the recession
faster than others, and although its deficit is
currently at a record high, the International
Monetary Fund expects Canada to be the
only one of the seven major industrialized
democracies to return to surplus by 2015.

This month Canada became the first
among them to raise interest rates since the
global financial crisis began.

George Osborne, Britain's Treasury chief,
has vowed to follow Canada's example on
deficit reduction.

"They brought together the best brains
both inside and outside government to car-
ry out a fundamental reassessment of the
role of the state," Osborne said in a speech.

It's a remarkable turnaround from 1993,
when the Liberals took office facing a $30
billion deficit. Moody's downgraded
Canada's credit rating twice. About 36 per-
cent of the government's revenue went
toward servicing debt.

"Our situation was dire. Canada was ina
lot of trouble at that point,” Martin said.
"If we were going to preserve our health
care and our education system we had to
do it."

As finance minister, he slashed spending.
A weak currency and a booming U.S. econ-
omy also helped Martin balance the books.
In the 1998 budget the government esti-
mated that about 55 percent of the deficit
reduction came from economic growth and
35 percent from spending cuts.

"The rest of the world certainly thinks
we're the model to follow," said Martin,
who was prime minister from 2003 to 2006.
"T've been asked by a lot of countries as to
how to go about it."

am.)







IN THIS MAY 2, 2009 FILE PHOTO, former prime
minister Paul Martin casts his ballot for the new
leader and national party executives at the Liberal
Leadership Convention in Vancouver, British Colum-
bia. Canada thinks it can teach the world a thing or
two about dodging financial meltdowns. (AP)

Don Drummond, Martin's budget chief
at the time, says the U.S. and Europe won't
have it that easy, because the economic cli-
mate was better in the late 1990s than it is
now, with large trade gains and falling inter-
est rates.

"There's a lot to learn from Canada but
their starting conditions are worse,” he said.
"Even though we were on the precipice of a
crisis we weren't in as bad a shape as many
of them are."

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

SENIOR MANAGER, ACCOUNTS
FINANCE DIVISION

A vacancy exists in the Corporation for a Senior Manager, Accounts in the Finance

Division.

The Senior Manager - Accounts oversees the functions of the Accounting, Budget &
Management Reports and Finance Department to ensure the efficient and effective

delivery of accounting services.

Responsibilities of the position include, but are not limited to, the following:

Compilation of the corporate budget;

Coordination the op annual budget and project budgets;

Preparation of month

y management statements;

Revision of the General Ledger Control Accounts reconciliation;
Preparation of performance reports for division ,department and sections;
Overseeing of the job costing system and sundry receivables

(capital contributions, rechargeable);

Overseeing the accounting aspect of the Abaco and Eleuthera offices;
Liaison with internal and external audits;

Preparation and submission of monthly financial statements to the Chief
Financial Officer for the Board of Directors;

Provision of regular reports to the Chief Financial Officer as required;
Preparation of the business plan for the department;

Establishing and maintaining written procedures for the department;
Ensuring the filing and assessing of the BEC’s insurance claims;
Overseeing the Cash Flow Management;

Ensuring timely posting of invoices for payment;

Overseeing the Payroll Office and ensuring relevant deductions form

employee’s salaries;

Performing reconciliations of Trade/Sundry Accounts Payable;
Monitoring and reviewing all other Liability Accounts;
Ensuring timely disbursement of all Loans interest and principle

repayments,

Performing reconciliations for Long-term Debt Schedule;
Calculating exchange gains and losses on long-term loans;
Monitoring of daily transfer of funds to various bank accounts to
ensure adequate availability of funds for payment to vendors;
Managing the status of local and foreign vendors;

Liaising with and granting requests as required by Internal and

External Auditors;

Managing subordinate staff and administering discipline.

Conducting performance appraisals; and

Maintaining an effective system of two-way communication with staff,
manage and promotes sound based and harmonious industrial relations.

Job requirements include:

A minimum of a Bachelors degree with a certification in Accounting

ACCA/CPA or equivalent qua

ifications;

A minimum of 8+ years of experience in a financial environment or in a

similar management position;

Sound knowledge of Generally Accepted Accounting Practices;
Sound knowledge of Financial Accounting Software and spreadsheet

applications;

ound knowledge of project management and related job costing

systems;

Ability to analyze financial reports;

Ability to trouble shoot accounting processes as they relate to financial
software and the system of internal control;

Good judgment and sound reasoning ability;

Ability to communicate effectively both orally and in writing; and

Good time management skills.

Interested persons should apply by completing and_ returning an Application Form to:
The Manager-Human Resources & Training Department, Bahamas Electricity
Corporation, Blue Hill & Tucker, P. O. Box N-7509 Nassau Bahamas on or before:



Friday, June 25, 2010.

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



THE TRIBUNE MONDAY, JUNE 21, 2010, PAGE 7C



INSIGHT



Crews are drilling |
deeper into Gulf of |
Mexico to halt leak



ON THE GULF OF BP spokespeople rushed to 8,000 feet (2,400 meters) to
MEXICO defend Hayward, who has _ go.
drawn biting criticism as the The other well is deeper,

DRILLING crews are public face of BP's halting but drilling superintendent
grinding ever deeper to build efforts to stop the spill. BP is | Wendell Guidry says it's any-
the relief wells that are the responsible for the cleanup one's guess which team will
best hope of stopping the because it was leasing the rig intersect the damaged well

massive oil leak at the bot- when it blew up. first.

tom of the Gulf of Mexico, "He's spending a few hours "The main thing is, you
according to Associated Press. with his family ata weekend," _ know, we try to keep the guys

The crew of Transocean said BP spokesman Robert focused," Guidry said.

Ltd.'s Development Driller I Wine. "I'm sure that every- "We're just treating this
was on track to pour cement one would understand that." like we treat any other well
starting early Sunday to firm The public relations gaffe that we drill."

up a section of metal casing — yet another in a series by Once a relief well intersects
lining one of two relief wells. | Hayward and the company— with the damaged well, BP

BP and government offi- | ended what could have beena plans to shoot heavy drilling
cials say the wells are the best good week for BP. About 50 mud down the well bore, then
option for cutting off the miles (80 kilometers) off plug it with cement.
gusher that has spilled as Louisiana's coast, a newly Meanwhile, Democratic
much as 125 million gallons expanded containment sys- Sens. Barbara Boxer of Cali-
(473 million liters) into the | temis capturing or incinerat- fornia and Bill Nelson of
Gulf since the Transocean ing more than 1 million gal- Florida said on CBS televi-
drilling rig Deepwater Hori- —_lons (3.8 million liters) of oil — sion's "Face the Nation" Sun-
zon exploded April 20, killing daily, the first time it has day that they have asked

11 workers. approached its peak capaci- President Barack Obama to
Back on land, coastal resi- ty, according to the Coast give the Navy a bigger role in
dents were infuriated by news Guard. the efforts to clean up the

that BP PLC CEO Tony Hay- BP hopes that by late June — spill, which are now being
ward was taking a break from it will keep nearly 90 percent overseen by the Coast
overseeing efforts tostop the of the flow from the broken Guard.
leak to watch his 52-foot (16- pipe from hitting the ocean. But asked on "Fox News
meter) yacht, "Bob," compete It will likely be August Sunday" if the Pentagon
in a race around the Isle of before crews finish drilling the could be doing more to help
Wight off southern England. relief wells. stop the leak or keep oil from
"Man, that ain't right. None On the Development washing up on shore, Defense
of us can even go out fishing, Driller I, one of two rigs Secretary Robert Gates said
and he’s at the yacht races," working on the effort, BP no.
said Bobby Pitre, 33, who wellsite leader Mickey Fruge "We have offered whatever
runs a tattoo shop in Larose, said the well has reached a capabilities we have," he said.



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get a day off from the oil, (1,500 meters) below the equipment or particular a relief well, at the site of the Deepwater Horizon oil spill in the Gulf of Mexico. (AP)

too." seafloor. There's still another expertise."





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Volume: 106 No.173



The Tribune



THE PEOPLE’S PAPER - BIGGEST AND BEST





A Te

SY

does the
future hold?

SEE PAGE 1C

PLP: Murder case

Dacniog far worse

Opposition hits
out at minister

THE Progressive Liberal
Party claims there are far more
than 257 murder cases pending
before the courts, despite what
was stated last week by Nation-
al Security Minister Tommy
Turnquest in the House of
Assembly.

Party chiefs last night said
Mr Turnquest must hold his
head in shame for what it calls
“lack of understanding and
capacity to understand matters
relating to crime and national
security”.

In a statement, the PLP
claimed the Free National
Movement administration has
produced no plausible initia-
tives to effectively deal with the
challenges affecting the country
as it relates to crime.

The opposition is demand-
ing an “immediate explanation
from the Minister of National
Security Tommy Turnquest as
to the reasons for the disparity
in the numbers of murder cases
pending”.

The statement claims: “First,
it cannot be correct that there
are only 257 cases pending. This
number is actually much higher.

“Between 2000 and 2010, 650
murders occurred in The
Bahamas, most of which

occurred under the inept
administration of the FNM. Of
this number, the police were
able to solve 466 murders and
place these cases before the
criminal courts.

“Tf the Minister is saying that
257 murder cases are pending,
it means that between 2000 and
the current, 209 cases were con-
cluded. This means that
between 2000 and 2010, at least
21 murder cases had to be con-
cluded each year either through
the court process or the case
was stopped for one reason or
another.

“This has not been the case —
what then is the true overall
figure of murder cases that are
actually pending before the
courts?”

Last week, Minister Turn-
quest revealed that up to April
30, there were 257 murder cas-
es in the system of which 130
persons are on bail and 127
were on remand. The PLP is
also questioning the status of
the audit which Attorney Gen-
eral John Delaney said he was
undertaking when he assumed
office.

“Minister Tommy Turnquest
must hang his head in shame

SEE page eight



USA TODAY.

BAHAMAS EDITION

www.tribune242.com

MONDAY, JUNE 21,

SETA

os

= : =
a aed

THESE YOUNGSTE

‘Legal talents’ reviewing
planned challenge to Public

Prosecutions appointment

By AVA TURNQUEST
Tribune Staff Reporter
aturngest@tribunemedia.net

LEGAL action chal-
lenging the Judicial and
Legal Services Commis-
sion's appointment of a
Jamaican national as
Director of Public Prose-
cutions could materialise
in less than two days.

A body of external
“legal talents” is currently
reviewing and providing feedback on the
document by which former Deputy Direc-
tor of Public Prosecutions Cheryl Grant-
Bethel plans to question the decision to

SEE page eight





CHERYL
GRANT BETHEL

erin signee nm beach cnn nie

2010

Ua ais

es



Scientists to investigate
suspected oil sightings
in Bahamian waters



By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net



SCIENTISTS and volunteers are
expected to set out today ona
five-day expedition to Cay Sal and
Bimini to investigate sightings of
suspected oil in the seas around the
Bahamas from the oil spill in the
Gulf of Mexico.

The International Maritime
Organisation (IMO) scientists and
volunteers will take sediment sam-
ples and test them on the Defence
Force vessel HMS Bahamas to con-

SEE page 15







ee 41

EN Yg



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

Vie a Cel
hoping to reach
‘the next level’

SEE PAGE TWELVE



COB defends
search for
president

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net





THE nation’s leading tertiary
institution has defended the
integrity of its presidential search
process against claims by its facul-
ty union of “conflicts of interest”
within the appointed search com-
mittee and the college’s council.

In a press statement yesterday,
the College of the Bahamas
(COB) called criticisms as “base-
less” and maintained its Advisory

SEE page eight

Dy









ah al

across the nation were out and about in the sunshine to celebrate Father’s Day.

MP says PM’s public
service actions are
‘procedurally flawed’

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net



THE actions of the Prime Minister
Hubert Ingraham, as Minister of the Public
Service, are “procedurally flawed”, accord-
ing to an opposition member.

MP for Fox Hill Fred Mitchell was com-
menting on the PM’s recent public state-
ments concerning the discipline of custom
officers and his comments concering the
former Deputy Director of Public Prosecu-
tions Cheryl Grant-Bethel.

“From the start, the matter seemed pro-
cedurally flawed with the Minister for the
Public Service the Prime Minister making
pronouncements in public about the fate of

SEE page eight



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PAGE 2, MONDAY, JUNE 21, 2010 THE TRIBUNE

LOCAL NEWS







wi ities & biscuit



ABOVE: Minister of National Secu-
rity Tommy Turnquest inspects the
guard along with Trinidad and
Tobago Commissioner of Prisons
John Rougier yesterday in front of
the Church God of Prophecy dur-
ing the Fourth Annual Conference
of the Association of Caribbean
Heads of Corrections and Prison
Services.
















See Stee al eel eel

aceboo : RIGHT: Superintendent of Pris-

4 ee ons Elliston Rahming speaks to
the Minister of National Security
Tommy Turnquest.





Create your future with our experience.

Renée Moore rises to
meet the challenge.

Renée Moore remembers playing and winning at Monopoly as a child. The thrill of
being the banker in a board game a5 an eight yearaold, led to a preference for working
In the banking Industry as an adult,

firs. Moore, who is a Fellow of the Association of Chartered Certified Accountants
(FOCA), fills the new position of Senior Manager, Forel Exchange Trading and Treasiry
at RBC. She has come full circle to REC, having started her banking career trading
foreign exchange at a company that was recently acquired by REC, RBTT Holdings,
in Trinidad in 1997.

Moore has held a Successive number of Senior positions in inwsury trading and liquidity
management. She was recently the country treasurer for a local bank, with responsibility
for the Bahamas, Cayman blands, Turks and Caicos, and the British Virgin Islands.

"| like the dynamic, fast-paced environment of Treasury, but more importantly helping
customers manage their exposure to foreign exchange risk,” she says. “I also love a
challenge and look forward to working with the team at RBC te ensure the bank
receives optimal retums on it funds and maximizes its revenue fron trading foreign
tachange,”

hirs. Moore is an Awana leader at her church and loves spending time with her family.

She is married ta Sean Moore and is the proud mother of a daughter, Danielle, with
another child due in late 2020,







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of Canada

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HER MAJESTY’S PRISON

TROPICAL BAND marches yesterday on

East Street during the Fourth

SUE mal Conerence ofthe
al wy | PROBLEMS see : Corrections and
PHONE: 22-2157 eee

Felipé Major/Tribune staff

INDEX

MAIN/SPORTS SECTION

Local News

Local News

Editorial/Letters
P10,16,23
eae

CLASSIFIED SECTION 36 PAGES

REAL ESTATE GUIDE 20 PAGES

USA TODAY MAIN/SPORTS 12 PAGES

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

LOCAL NEWS

MONDAY, JUNE 21, 2010, PAGE 3



CTA

A TEAM of officers from
the traffic division in New
Providence have been flown

to Long Island to assist with :
the investigations surround- :
ing a traffic fatality that :
occurred shortly after 2am on :

Saturday.

Police at Long Island :
received information of a :
white Cherokee Jeep over- :
turning on Queens Highway :
in the settlement of Alligator :
Bay, near Roberts Hardware. :

The driver, David Adder- :
ley, 45, of Oneil’s, Long :
Island, was taken to a local :
clinic but died of his injuries a :

short time later.

¢ POLICE confiscated }
more than $60,000 worth of :
marijuana on Friday and }
arrested a 32-year-old resident :

of Hampton Ridge.

At 1.15pm, the Drug:
Enforcement Unit executed a ;
search warrant on a residence :

at West Ridge Estates.

Officers discovered a total
of 48lbs of marijuana witha :

street value of $67, 200.

Police are continuing their

investigations.

¢ POLICE are searching }
for two men who robbed a :
woman at Tyler Street, off :
Boyd Road, sometime around :

9.30pm on Friday.
The woman

was:

approached by man, one of :
whom was allegedly armed :

with a handgun.

It is reported the pair
robbed the woman of her :
handbag containing cash and :

personal items.

¢ POLICE are questioning :
a 29-year-old man of East :
Street in connection with a:
stabbing at Woodes Rogers ;

Walk.

At about 5.15pm on Satur- :
day, two men got into an ;
altercation which resulted in a :
46-year-old man of Pastel :
Gardens being stabbed multi- :

ple times.

The man is reportedly in }

serious condition.

¢ POLICE are investigat- :
ing a suspected drowning :
which occurred at Woodes :
Rogers Walk sometime }

around 10am on Saturday.

A man, in his 20s, was
found unresponsive floating :

in the waters.

It is believed :

he was diving when the inci- :

dent occurred.

Pest control in
the rainy season

THE rainy season is upon

us again, bringing with it chal- :
lenges of more pest control :
issues and contributing to off :
scheduled services such as :

garbage collection.

Together with the warm :
summer temperatures, pests :
such as flies, mosquitoes and :
rats are likely to produce in ;

larger numbers.

However residents can do :
their part by ensuring that their :
garbage is properly container- :
ised and that bins are cleaned :
and disinfected after being :

emptied.

This is also crab season, and
vendors must practice good :
sanitation by making available :
garbage receptacles during :
operation and that all of the :
waste generated is taken away
and disposed of properly. This :
will help to minimise fly nui- :
sances by reducing odour and;

food sources.

The more food, shelter and :
harbourage we provide for :
rats, the more success they :
would have in surviving in :
large numbers. Kitchen waste, :
discarded appliances and fur- :
niture, derelict vehicles and :
other debris provide the envi- }

ronment for this to occur.

Individuals, private and pub- :
lic entities and communities at :
large, are asked to shoulder :
their responsibilities by ensur- :
ing that their premises and :
places of occupancy and their :
communities are clean and that :
good garbage storage and dis- :
posal practices are carried out. :
Good sanitation habits will :
assist in controlling the rat pop-
ulation and other pests but :
unkept surroundings and indis- :
criminate dumping would do ;

the opposite.

TOSHIBA

Leading Innovation °>>

PM to be FIFA guest at World Cup

PRIME Minister Hubert
Ingraham left for South
Africa yesterday to attend
the World Cup in South
Africa at the invitation of
the International Football
Association (FIFA) and The
Bahamas Football Associa-
tion (BFA).

While in South Africa, Mr
Ingraham will be the guest
of FIFA. He returns to the
Bahamas on July 2.

Last year, The Bahamas
hosted the 59th FIFA Con-
gress. Since then the world
organisation has expanded
its collaboration with BFA
to assist in the improvement
of various facilities, as well
aS raise awareness of the
sport in The Bahamas.

The Bahamas Football
Association, with funding
from FIFA, is collaborating
with the Ministry of
Tourism, the Ministry of
Environmental Affairs and
the private sector Coastal
Awareness Committee in
cleaning up Malcolm Park
and installing recreational



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Ingraham is off to South
Africa, where teams such as
Brazil (right) are competing
for the FIFA World Cup.

facilities for the public,
including football facilities.
The Prime Minister is
accompanied by the Minis-
ter of National Security,
Tommy Turnquest and Min-
ister of Youth Sports and
Culture Charles Maynard.
Minister Maynard is trav-
elling officially. Prime Min-

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ration between various par-
ties and The Bahamas. He
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transformation of the Queen
Elizabeth Sports Centre into
a State of the art athletic
complex, including the
building of the new national
stadium.

During the Prime Minis-
ter’s absence from the coun-
try the Brent Symonette will
act as Prime Minister, and
Zhivago Laing, will act as
Minister of Finance, Sena-
tor John Delaney will act as
Minister of National Secu-
rity and Desmond Bannis-
ter will act as Minister of
Youth Sports and Culture.

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THE TRIBUNE

LOCAL NEWS

MONDAY, JUNE 21, 2010, PAGE 5



High visitor numbers
in first half of 2010

‘One of best ever quarters
in middle of a recession’



THE Bahamas has seen extraordinarily high
numbers of visitor arrivals in the first half of
2010, due in part to the innovative marketing
and promotion strategies of the Ministry of
Tourism & Aviation, Minister Vincent Vander-
pool-Wallace told participants of the tourism
apprentice programme.

“The first quarter of this year is one of the
best quarters we’ve ever had in the middle of a
recession,” he said.

“For the first six months of this year, the num-
bers are obviously not in yet, but in terms of air
arrivals, it is going to be one of the best six
months we’ve ever had in terms of Nassau/Par-
adise Island in particular. In terms of cruise pas-
sengers, the numbers are off the charts because
that volume of business continues to grow.”

Minister Vincent Vanderpool-Wallace was
addressing tourism apprentices, who had gone
through training postings that lasted for six
months. Now that the talented young Bahamians
had come to the end of their formal job training
and experience programme, Minister Vander-
pool-Wallace encouraged them to help make the
Bahamas to further develop.

In a few years, he said, the Bahamas would
develop to the point where many Bahamians
would be commuting from Family Islands to
work in Nassau.

“That’s the way grown up countries that are
archipelagos function,” he said. “There’s not this
business of somehow everybody is crowding in
one place because we have opportunities to begin
to expand and spread to a degree that is extra-
ordinary.”

Minister Vanderpool-Wallace emphasised that
the apprentices were selected based on their abil-
ities and not based on political patronage or
some other consideration. As a result of their
exemplary work, both the Ministry of Tourism &
Aviation and the Bahamas Hotel Association,
which partnered to create the programme, were






MINISTER OF
Tourism Vincent
Vanderpool-Wallace



devoted to looking to the young Bahamians for
future opportunities, he said.

More than 600 individuals applied for accep-
tance into the apprentice programme. After a
testing and interview process, the top candidates
were chosen. This means that the apprentices
were chosen above more than 500 other appli-
cants, Minister Vandrepool-Wallace said.

“Everybody in this room has proven them-
selves in some very special ways,” he said. “And
you have a commitment from the hotel sector in
particular and from the Ministry of Tourism that
the first place we look for employing anybody for
anything at anytime from this day forward is
from you.”

Robert Sands, president of the Bahamas Hotel
Association, was pleased that some of the more
than 100 apprentices accepted into the pro-
gramme were hired by various companies for
permanent employment.

“We were thrilled to know that a number of
you have already secured employment from this
programme or are in the process of being con-
sidered for employment,” he said. “We congrat-
ulate you and urge you to turn to this life-chang-
ing opportunity. I do not expect that all of you
would be employed as a result of this programme
but we knew that some of you would and that this
program was in fact meaningful and beneficial.”

Mr Sands said that those who have not yet
secured permanent employment should not give
up. He said they are now more marketable
prospective employees, and he urged them to
draw upon the knowledge, skills and contacts
they have earned through the programme.



PUSHIN’ DA ENVELOP



Educators set for lesson on preparing
young people for tourism opportunities

ONE HUNDRED of the
nation's educators will spend a
week in industry this summer
learning about the range of
careers and businesses in the
tourism industry and how to
better prepare young people for
its many opportunities.

The scheme is part of the
Bahamas Hotel Association's
seventh annual summer educa-
tor internship programme, in
collaboration with the Ministry
of Education (MOB), the Min-
istry of Tourism and Aviation
(MOTA) and COB's Culinary
Hospitality Management Insti-
tute (CHMI).

Public and private school
teachers, principals, counsellors,
and subject specialists will align
with local business partners to
get a hands-on"snapshot" of the
tourism industry and better
understand how critical their
roles are in preparing the future
workforce to make a meaning-
ful difference in our nation's
largest industry.

"We are thrilled to be able
to one again create this oppor-
tunity to strengthen and build
on the relationship we have with
the Ministry of Education and

educators throughout The
Bahamas. While tourism is the
lifeblood of our economy,
teachers are its soul which
touches and influences our
potential employees in pro-
found ways,” said Beverly Saun-
ders, of the Bahamas Hotel
Association.

With more than 1,000 classi-
fications of jobs within the
tourism industry in The
Bahamas, and countless entre-
preneurial possibilities, the
internship program presents a
powerful professional develop-
ment opportunity for educators
to enhance their understanding
of the industry and the oppor-
tunities it presents to young
people.

According to the programme
organisers, it is stimulating edu-
cators to explore new and inno-
vative teaching strategies to
bring tourism into the class-
room.

The internship program will
be held on Grand Bahama later
in the summer.

Approximately 50 educators
participated last year and organ-
isers expect to exceed that num-
ber this year.

The private sector is partici-
pating at several levels, con-
ducting workshops following an
opening ceremony on the
changing workplace, and a 'con-
versation with industry leaders’
on the opening day.

Approximately 15 hotels and
tourism-related businesses will
operate as placement and train-









ing sites for interns for three
days, and the internship experi-
ence will culminate with a final
day feedback and brainstorm-
ing session on strengthening the
partnership between education
and industry.

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THE TRIBUNE

FROM page six

A meeting of its National
Executive Committee, to
which I referred in my last
commentary, did not agree
to rotate its leadership from
Raphael Trotman to Ram-
jattan as expected.

Instead, the meeting
“reaffirmed its commitment
to the principle of rotation
of its top two candidates for
the 2011 election bid” and
deferred the matter to its
national convention later
this year.

Among the disaffected
leadership of the PNC, there
are those who appear con-
vinced that the PNC can win
the election on its own. The
only problem they see is
Corbin’s continued leader-
ship of the Party. As they
view it, if Corbin would step
aside and allow the party to
be reenergised and refo-
cused under its former
Chairman, Winston Murray,
the party would be a viable
contestant for both the glit-
tering prize of the Presiden-
cy and the government, both
of which have eluded them
since 1992.

Against this background
it is understandable why

MONDAY, JUNE 21, 2010, PAGE 7
2 of Guyana and its Presidency



=
*







SIR RONALD SANDERS

some of the leaders of the
opposition parties consider
it desirable to form a grand
coalition in advance of the
elections to jointly fight the
PPP. For, if the PPP does
not win an overall majority,
it would need a much small-
er number of votes to take it
over 50 per cent than would
the PNC, and doing that
deal would be considerably
easier than trying to cobble
together a coalition of 10
parties (9 opposition parties
that contested the last elec-

Minister assures
Parliament over Family

Island mail services



PUBLIC Works and
Transport Minister Neko
C Grant has assured Par-
liamentarians that his min-
istry will ensure to the
“greatest extent possible”
that mail and freight ser-
vices to Family Islands are
not “adversely” affected as
aresult of the reduction in
subsidies.

The reduction is one of
the measures outlined in
the 2010/2011 Budget
Communication to assist in
containing public spend-
ing.

During his contribution
to the debate, Mr Grant
acknowledged with grati-
tude the contributions of
mail boat operators to
nation building.

Challenges

“While there are certain
perceived challenges asso-
ciated with this subsidy
reduction, we do not con-
sider these challenges
insurmountable,” he said.

Mr Grant described the
10 per cent reduction in
mail boat subsidies as one
of the most “significant”
under his portfolio.

He said the reduction
would range from $526.99
per week at the lower end
of the subsidy scale to
$1,707.50 at the higher end
of the scale.

He committed to meet-

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.



ing with mail boat opera-
tors to resolve any diffi-
culties they may encounter
in operating within the lim-
its of the revised subsidy.

tions plus the WPA that did-
n't).

Putting together such a
grand coalition is by no
means easy. Agreeing ona
Presidential candidate may
be the least of the problems
which will include settling
the distribution of parlia-
mentary seats, ministerial
portfolios and a set of
agreed priority policies and
programmes to move the
country forward.

While the manoeuvrings
within political parties are
going on, policies have not
risen to the top of debates
within the country, but the
issues are becoming obvi-
ous, among them: a huge
gap between “haves” and
“have nots”; the need for
racial balance in public
appointments and crime.

Guyana’s recent eco-
nomic advancement under
Jagdeo has to be developed
to provide tangible benefits
for all the people. And, the
people — particularly the
young — will want to hear
how and when this will be
achieved.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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PAGE 8, MONDAY, JUNE 21, 2010

THE TRIBUNE

LOCAL NEWS

‘Legal talents’ reviewing
planned challenge to Public

Prosecutions appointment
FROM page one

choose a foreigner instead of appointing her to the Director's
post.

While the process may prove lengthier, Mrs Grant-
Bethel’s attorney and former bar president Wayne Munroe
said it would only be an increased benefit to take advantage
of the wealth of experience and expertise available before
finalising legal action.

The document will question whether or not Mrs Grant-
Bethel’s application was given due and fair consideration by
the commission and also the process by which all applica-
tions were considered.

The expected filing date is still set for on or before
Wednesday.

It was led by Mr Munroe that Mrs Grant-Bethel, who has
served as acting DPP in her role as Deputy Director, is
more qualified than the chosen candidate, Vinette Gra-
ham-Allen.

Ms Graham-Allen was a former Director of Public Pros-
ecutions in Bermuda and head of the Justice Training Insti-
tute in Jamaica.

Last week, while defending the decision of the Judicial and
Legal Services Commission (JLSC) in Parliament, Prime
Minister Hubert Ingraham hinted there were deeper issues
that prevented him from supporting Mrs Grant-Bethel’s
appointment. He had earlier identified her as a worthy can-
didate.

This admission has spawned much speculation over
whether or not Mr Ingraham had any influence in the
JLSC’s selection, and some opposition members have
demanded the PM disclose the information that influenced
his opinion.

FROM page one

Search Committee adheres to
standards established by inter-
national institutions. main-
tained the process was “open,
transparent and inclusive of all
core College community con-
stituent groups”.

The statement continued:
“The search committee was
established following consulta-
tion with respective College
community groups including
the various unions and associa-
tions. Decisions carried by this
search committee will be reflec-
tive of the collective and well
considered decision of its full
membership.”

Last week, following the
appointment of COB’s new
president Dr Earla Carey-
Baines and the retirement of
its Executive Director Dr
Rhonda Chipman-Johnson, the
Union of Tertiary Educators of
the Bahamas (UTEB) called
for the resignation of the Chair
and Vice-Chair of the college's
Advisory Search Committee.

UTEB identifed the college’s
actions, and the resulting cir-
cumstances, earlier this month
as evident of political influence.
The union also argued it was a
conflict of intrest for the two

COB defends

people, T Baswell Donaldson,
Chairman of the College Coun-
cil and Deputy Chair, Judith
Whitehead, directly responsi-
ble for hiring the next president
to also head the screening
process.

The institution did not ref-
erence UTEB’s argument,
however the statement high-
lighted the committee was
approved by the Council,
which includes the union’s
President Jennifer Isaacs-Dot-
son; and added the committee’s
faculty representative was
appointed on recommendation
from the union.

The Advisory Search Com-
mittee also includes: Dr Kreim-
ild Saunders, Faculty Repre-
sentative; Miriam Sands, Staff
Representative; Antonio But-
ler, Student Representative;
Wendy Warren, Alumni Rep-
resentative; Kenwood Kerr,
Alumni Representative; Cheryl
Simms, College Administrator;
Dr Timothy McCartney, Exter-
nal Academic; and former
Attorney General Sean
McWeeney QC, Community
Representative.

The committee is also sup-
ported by COB’s associate vice









president of External Affairs
Gabriella Fraser, who serves as
an Executive Secretary and
Search Coordinator.

The inistitution went on to
reveal it was currently in its
recruitment stage, the fourth
step in a detailed seven-step
process.

After a preliminary cadidate
list has been established, and
references verified, the com-
mittee will commence a two-
phase evaluation process.

The first phase features the
development of a short list of
candidates who will be inter-
viewed and culled to no more
than three candidates.

The second phase of the
evaluation process will engage
the remaining candidates sepa-

rately with the college commu-
nity for individual feedback.
The committee, after review-
ing community feedback, will
then make a reccomendation
to the College Council, who will
in turn seek the approval of the
Minister of Education.

The public is encouraged to
keep abreast of the search
process by visiting COB’s web-
site: http://www.cob.edu.bs/
Administration/Presi-
dentSearch.

The website continued: “Dis-
cussions with the preferred can-
didate will be held to ensure
provisional acceptance of an
offer should one be made. The
final recommendation will be
presented for final approval by
Council.”



UTILITIES REGULATIGN & COMPETITION AUTHORITY
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PLP: Murder case backlog far worse

FROM page one

for also misleading the Bahamian public regarding the Witness
Protection Programme (WPP). The FNM Government halted
the Programme and cut its funding when it first came to office
without scrutinizing the Programme and determining why it was
brought into existence,” the PLP stated.

The opposition also criticised Mr Turnquest for his remarks
regarding community policing. The minister recently stated
that community policing will not stop violent crime, although it
will have a dramatic impact on crimes such as house break-ins
and armed robberies. According to the PLP, more murders
have occurred during the commission of armed robberies since
2007 to the present than at any other point in Bahamian history.

“But this lack of understanding on the part of the minister is
much deeper as the Minister fails to understand that ‘the Police
are the community and the community is the Police’. This is how
crime is solved and is community policing at work. More mur-
ders and violent crimes are prevented and solved because of
community policing,” the PLP stated.

Mr Turnquest and FNM Chairman Carl Bethell could not be
contacted for comment.







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(2) RHODES SCHOLARSHIPS to be awarded as follows:

(a) The Jamaica Rhodes Scholarship available to candidates from
Jamabta only; and

(b) The Commonwealth Caribbean Rhodes Scholarship, available to
all Caribbean candidates, excluding Jamaicans.

Candidates. must have undertaken academic training sufficiently
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MP: PI's public service actions ‘procedurally flawett'
FROM page one

the officers about whom in law he has no say. This is the same error
into which he has fallen with regard to Cheryl Grant Bethel whom
he now seeks to hound out of the public service,” Mr Mitchell.

Responding to the Public Service Board of Appeal ruling last
week, which reinstated veteran customs officer Adrian Smith, Mr
Mitchell advised officers to seek orders from court if decisions made
are not followed immediately.

“Sometimes, the response of the government is to ignore the
decisions of panels. The officers should know that in cases like these
if steps are not taken immediately to follow the decision made by
the Board, Mr Smith ought to proceed to court to get an order of
mandamus ordering the crown to follow the order,” he said.

Mr Smith’s dismissal, which came more than five years after he
was notified of disciplinary intent, was categorized as “unfair” by
the Public Service Board of Appeal.

Mr Mitchell noted the “Department of Customs under its new
leadership, the Public Service Commission under its new leadership
and the Department of Public Service” neglected to observe ele-
mentary points of public law concerning the rights of the public ser-
vant.

“It is heartening to see that the Public Service Board of Appeal
has reaffirmed the following: disciplinary action must be taken
proximate to the offense against discipline taking place; the officer
must be given the full facts and an opportunity to be heard; where
there are complex issues of fact there ought to be a hearing of the
matter and not as happened in Mr Smith's case a simple decision
on documents alone; if an individual has already been punished,
you cannot punish that officer a second time for the same offense,”
Mr Mitchell

The MP added the ruling should serve as a lesson to all leader-
ship of the public service.

“This must be a lesson to the leadership of the public service
from the Prime Minister to the Head of Customs that it is unseem-
ly to engage in high profile so called anti corruption exercises and
then fire people as if to some predetermined script. This is a coun-
try that supports and believes in the rule of law,” Mr Mitchell

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the first quality required of applicants, but they wal also be required to
show integrity of character, sympathy far and protection af the weak,
fhe ability ta lead and the energy to use their talent to the full

The closing date for Jamaican and Commonwealth Caribbean Rhodes
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 11

LOCAL NEWS











Letisha Henderson/BIS



AGRICULTURE AND FISHERIES cooperatives stakeholders attend the National Cooperative Congress
Forum at the British Colonial Hilton. The event, held under the theme “Overcoming Crisis in Challeng-
ing Times — The Way Forward” spans two days and brings together the leaders of the Cooperative
Movement to examine and define the path, the roadmap for the development of the sector.

Bahamian cooperatives
in ‘strategic position’

By ERIC ROSE
Bahamas Information
Services

COOPERATIVES in The
Bahamas are in a Strategic
position to utilise the oppor-
tunities of a more open
Bahamian economy to the
advantage of its membership,
claims Minister of Agriculture
and Marine Resources the
Hon Lawrence Cartwright.

“At a time when some peo-
ple feel that they are too small
to take advantage of the
investment potential in the
economy, cooperatives offer
these individuals strength
through the amalgamation of
their investment efforts,” Min-
ister Cartwright said.

He was addressing the sec-
ond National Cooperative
Congress Forum, held at the
British Colonial Hilton. The
event brought together the
leaders of the Cooperative
Movement to examine and
“define the path, the
roadmap” for development of
the sector, Minister
Cartwright said.

The liberalisation of trade
in the agriculture and fisheries
sectors will present enormous
opportunities for fishermen
and farmers that go beyond
catching fish or producing a
crop, he added.



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“The Cooperative organi-
sation for the agriculture and
fisheries sectors in 2010 has to
go beyond joint purchases of
fertiliser, feed and freezer
space,” Minister Cartwright
said. “From a strategic per-
spective the Cooperative of
2010 must be involved in the
marketing, warehousing and
manufacture of farm and fish-
eries products.

“Processing, packaging,
labeling and distribution net-
work components are integral
parts in these sectors and
those communities that can
organise themselves to
address the demands of the
new marketplace will reap the
benefits.”

Minister Cartwright said
that the small group of banana
or onion farmers in Abaco,
Long Island, Grand Bahama
or Andros, for example, that
grow those crops indepen-
dently, but use common ripen-
ing, drying and shipping facil-
ities into New Providence is
the beginning of the type of
cooperative organisation that
needs to be developed in all
Bahamian islands.

“The benefits from cooper-
atives are obvious — produc-
tion costs are lower through
the joint purchase of inputs,
the capacity of the ripening
machinery is effectively

ultilised, making the cost of
gassing a box of bananas
cheaper than if the unit was
used by a single individual at
half of its capacity,” he said.

Minister Cartwright pointed
out that perhaps the most
important of that is distribu-
tion.

He said that efforts made
at the field level to ensure
quality, pays dividends to the
individual farmer who demon-
strates to the buyer that, joint-
ly, the cooperative can deliver
a large volume of a consis-
tently good quality product.
This “fits in nicely” with the
cluster concept and is ideal for
supplying hotels, restaurants
and wholesalers, Minister
Cartwright added.

“This type of cooperative
effort at the major junctures of
production, marketing and
distribution can be repeated
in the livestock, handicraft,
fisheries and service sectors,”
Minister Cartwright said.

“This is particularly urgent
when the monetary benefits
to be gained of local seafood,
mutton, handicraft and horti-
culture are being lost to
imports due to the lack of
organisation and the need for
small investments in equip-
ment to guarantee a product
of consistent quality to the
consumer.”

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Cyclists
pedal up a
storm for

48-miles

ON Saturday, the New Prov-
idence Cycling Association and
Jeff's Auto Cycling Club hosted
a 48-mile road race in the South
Ocean loop of the island.

Youngsters Laurence Jupp
Jr and Jay Major displayed
great sportsmanship as they
competed against the strong
men’s field. Even though none
of them won, they provided
some stiff challenge for the top
contenders.

With two laps left in the
eight-lap race, Stefan
Krauskopf made a move as he
took the lead and Tracy Sweet-
ing tried to catch him. But both
Jupp Jr and Major stayed with
him and they made it an excit-
ing showdown.

In the end, however,
Krauskopf was just a little too
strong and he managed to surge
out front for the victory in two
hours, five minutes and 1.88
seconds.

Sweeting was able to hold off
the young stallions to finish sec-
ond in 2:05:36.32. Major ended
up in third place in 2:05:36.85
and Jupp Jr got fourth in
2:06:27.35.

Here’s a look at the final
results:

48 miles

Stefan Krauskopf —

2:05:01.88

Tracy Sweeting — 2:05:36.32

Jay Major — 2:05:36.85

Laurence Jupp Jr -

2:06:27.35

Van Demeritte — 2:06:57.38

Barron Musgrove —

2:07:25 .03

Robert Bethell — 2:22:42.53

Juniors 4-laps or 24 miles
Justin Minnis — 1:06:50.72
Rahiame Colebrook —
1:13:23.79

Antinece Simmons —
1:13:24.50

Roy Colebrook Jr -
1:18:45.79

Petron Lightbourn —
1:27:42.79

MONDAY, JUNE 21,





PAGE

0



2010

12
a r



PAGE 14 ¢ International sports news







Davis Cup team hopes to take
Bahamas ‘to the next level’

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net



he Bahamas Lawn Tennis

Association (BLTA) will be

sending the quartet of Devin

Mullings, Timothy Neilly,

Marvin Rolle and Justin Lunn

to represent the Bahamas at the Ameri-
can Zone II Davis Cup tie in Puerto Rico.
The team, captained once again by John

Farrington, will compete in the tie from
July 7-11 at the Parque Central de San
Juan, Calle Cerra Final in San Juan against
six other nations divided into two pools.

“We have a team that we are looking
forward to getting us to the next level,”
said BLTA’s president Stephen Turnquest.
“It’s going to be difficult, but we have a
good slate of players, so we should do very
well.

“The good thing is that at this level,
everybody is on an even keel, so I think we

stand a good chance of advancing. Most
of our young players have that desire to
get us back to Zone II and eventually to
Zone 1."

The top two nations in each pool will
compete in the “promotion” round-robin
pool July 10-11. Previous results against
nations in this pool are counted. The top
two nations will then be promoted to
Americas Zone Group II.

SEE page 14

Seminar warns athletes of dangers of
using performance enhancing drugs

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

BAHAMIAN athletes
should be aware of the dangers
of taking performance enhanc-
ing drugs to advance their
sporting careers after a one-day
seminar over the weekend.

Members of the World Anti-
Doping Organisation
(WADO), the Caribbean
Regional Anti-Doping Organi-
sation (RADO) and the
Bahamas Anti-Doping Com-
mission spent the entire day on
Saturday giving the stakehold-
ers in local sports the reasons
why they should refine from
doing so.

The one-day seminar, facili-
tated by both the Bahamas
Olympic Committee and the
Ministry of Youth, Sports and
Culture, was hosted at the Sher-
aton Cable Beach resort and
attracted a number of adminis-
trators, coaches, athletes and
officials from a number of
sporting disciplines.





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(SCastrol

cessful," said David ‘Stretch’
Morley, the local co-ordinator
and Bahamian representative
on the Caribbean RADO
board.

"T didn't expect that many
young athletes to come out, but
they were the ones we were tar-
geting. So we are happy that
they came.”

Morley, however, said they
were a little disappointed that
more of the physical education
teachers, who have a direct
responsibility for the younger
athletes in the school system,
didn't take advantage of the
seminar.

"T think it was very success-
ful. They got the information
and the young athletes now
understand what we are talk-
ing about as it relates to testing,
banned substances and all the
rest of it,” he said. "We now
have the anti-doping commis-
sion that was appointed by the
government in 2009, so we just
have to piggy back on this and
go into the school systems and
the Family Islands to a wider
group of athletes."

Addressing the opening pro-
ceedings was Minister of Youth,
Sports and Culture Charles
Maynard, who praised the
Bahamas Anti-Doping Com-
mission, headed by chairman

Photo by Felipe Major

Dr Jerome Lightbourne, for the
work they've done so far in the
awareness of drug prevention
in sports in the country.

BOC president Wellington
Miller also addressed the audi-
ence. He said: “We are dedi-
cated to fulfilling our obliga-
tions as responsible members
of the international sporting
community and we are eager
to play our part in helping the
world of sports to get rid of any
cheaters that are out there.

“Let us remember that this is
more important than a few bad
apples or ignorance about the
effects of performance enhanc-
ing drugs. What is at stake here
is the very nature of sports and
its ability to help everyone to
build a better life for them-
selves and a better society for
us all.”

The presenters were Dr
Lightbourne, Neil Murrell,
regional director for RADO,
Dr Adrian Lorde, chairman of
Caribbean RADO, Tom May,
WADO’s senior manager for
programme development and
Maria Jose Pesce, director for
WADO's Latin America office.

They dealt with a wide range
of topics such as anti-doping

SEE page 14



BOXING

BRONZE FOR KNOWLES

THE Bahamas’ three-man
team to the Elite Boxing Cham-
pionships returned home over
the weekend with a bronze
medal.

Valentino Knowles, who last
year made history when he won
the country's first medal at the
World Championships, did it
again when he picked up the
bronze in Ecuador after he lost
his semifinal match to Juan
Romero of Mexico.

Knowles clinched his berth
into the semis after he defeated
Juan Abreu of the Dominican
Republic. Had he won his
match against Romero, he
would have gone on to fight for
the gold or the silver.

The other member of the
team, Carl Hield, lost his open-
ing bout to Myke Carvalho of
Brazil.

The two boxers were accom-
panied by coach Andre Sey-
mour. They are now preparing
for the Central American and
Caribbean Games that is slated
to take place in Puerto Rico
next month.

SPORTS
INBRIEF

TENNIS

KNOWLES/FISH

AT WIMBLEDON

MARK Knowles and Amer-
ican Mardy Fish are hoping that
they will have the success they
haven't gotten all year when
they play in the third Grand
Slam Tournament for the year
at Wimbledon. The tournament
is all set to get underway today
at the All England Club.

Knowles and Fish are the
No.13 seeds in the tournament
and will play their first match
against the team of Philipp
Marx of Germany and Igor
Zelenay of Slovakia. Daniel
Nestor and Nenad Zimonjic,
the defending champions, are
the top seeds. Last year's run-
ners-up, Bob and Mike Bryan



Italy held to
another WCup
draw, Brazil

advances...
See page 14

TAB seminar
set for next
Monday

By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

BAHAMIAN track and field
enthusiasts often witness the
results and celebrate the suc-
cess of our elite athletes, how-
ever, one entrepreneur looks
to shed greater light on revo-
lutionizing training and recov-
ery.
Henry Butler, magnetic prac-
titioner and CEO of HAB
Enterprises, will introduce a
device that promises to assist
athletes with more effective
recovery and in shorter time-
frames.

Butler is scheduled to host a
seminar next week Monday
(June 28) at the Bahamas Hotel
Training College to unveil and
lecture on the Therapeutic
Apparatus for the Body
(TAB).

“Over the years, the
Bahamas has been fortunate to
be blessed with athletic talents
in numerous sporting disci-
plines that have resulted in us
being competitive in sports in
the region and internationally
for many years,” Butler said.

“As in any area, evolution is
a process that is constant, and
therefore it is imperative that
we stay on the cutting edge to
provide our athletes with the
best possible opportunity to be
successful. In this vein, I would
wish to introduce to you a
device that will assist athletes
with their recovery. Therapeu-
tic Apparatus for the Body
(TAB) is a proven device that
assists persons to recover in a
shorter period of time.”

Butler will be aided by some
of the Bahamas’ premier quar-
ter milers who have had posi-
tive experiences with the TAB
and vouch for its efficiency.

Former NCAA Indoor/Out-
door Champion and Olympic
1600m relay silver medallist,
Andretti Bain, fellow 1600m
relay silver medallist Ramon
Miller, and two time 1600m
relay medallist Nathaniel McK-
inney will share their experi-
ences regarding the use of the
technology.

"Presently there are Bahami-
an elite track and field, basket-
ball and volleyball athletes
using the device. I would like
therefore an opportunity to
demonstrate to coaches, ath-
letes and parents how this
device can be beneficial to ath-
letes during training and com-
petition,” Butler said.

"We have a great deal of
confidence that your athletes
will experience positive results
while using this device. If, after
the presentation you are still
uncertain about the device, we
are prepared to offer one free
visit to your athlete."

According to Butler, some
of TAB’s benefits include, a
reduction in the chance of
injury, shorter recovery peri-
ods, improved motor control,
improved range of motion and
flexibility, improved motor con-
trol, improved supply of oxy-
gen and nutrients, helps elimi-
nate the by products of exer-
cise, reduces pain and allows
deeper sleep periods.

All interested coaches, ath-
letes and parents are especially
invited to attend the seminar
which is slated to begin at
6:30pm.

are seeded No.2. Wimbledon is
the only Grand Slam title
Knowles hasn’t won. He
teamed with Nestor to win the
Australian, French and US
Open titles when they enjoyed
an 11-year partnership.

VOLLEYBALL

CONYERS CAMP

FOR another year, Jackie
Conyers will conduct her annu-
al Summer Volleyball Camp at
the Kendal Isaacs Gymnasium.
The camp for boys and girls is
scheduled to begin 9am today
and run through Friday.

Conyers will have returning
as instructors the husband and
wife team of Dell and Arlene
Hughes of Atlanta, Georgia, as
well as Bahamian coach Vanes-
sa Johnson-Henry. They will be
joined by a cadet of local coach-
es led by Glen Rolle.

SEE NEXT page

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

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

RETIRED American bas-
ketball coach Sam Nichols is
back in the Bahamas to host
his 11th version of Basketball
Smiles.

Scheduled to start today and
run through Friday at the C I
Gibson Gymnasium, the camp
will be divided into two sections
with the girls in action from
Yam to 12:30pm and the boys
will follow 1-4pm.

Patricia ‘Patti’? Johnson, the
most successful female and
junior high school coach in the
country, will be assisting
Nichols and coach Randy
Thompson, the vice president
of Basketball Smiles. A num-
ber of local coaches will also
be participating.

“With the increased staffing,
we’re going to be able to serve
more children than ever before
ad we’re excited about that
opportunity,” said Nichols, who
arrived in town over the week-
end. “We have the children of
the Bahamas in our hearts and
made a commitment 11 years
ago serve them through the
avenue of basketball.”

Johnson, who has ran an
impeccable girls basketball pro-
gramme at H O Nash for more
than two decades, said every
year Nichols has volunteered
his time to come to the
Bahamas and share his exper-
tise, not just with the players,

MONDAY, JUNE 21, 2010, PAGE 13

Coach ‘Patti’ to assist

11th Basketball Smiles











PATRICIA JOHNSON

but the coaches as well.

“For the kids, he keeps
preaching to them that basket-
ball could be their ticket to a
higher education, if they apply
themselves and he will do what-
ever he can to help them fulfil
their dreams,” Johnson said.

At present, Johnson said
Nichols assisted them in getting
four players to the Texas Chris-
tian University (TCU) basket-
ball camp. From there, the play-
ers will be going on to Tampa
to participate in another camp
before they return home.

“Since he has been coming
here, Sam Nichols has gone to
Eleuthera, Long Island, Andros
sharing the message that bas-
ketball is a positive thing if you
use it right,” Johnson said.

Once at the camp, which is
geared towards players in

grades 6-12, Johnson said they
hope to teach them the basic
skills, but more importantly,
she noted that they are look-
ing forward to the local coach-
es coming out and gaining the
knowledge to assist them in the
development of their own pro-
grammes.

After 32 years of coaching,
Nichols retired in May, 2007.
He spent his last 12 years as the
head women’s coach at
McMurray University where he
went on to become the all-time
winningest women’s basketball
coach.

Under his direction, Murray
made four NCAA post-season
appearances, including the
‘Sweet 16' in 2000. In 2006, they
were the American Southwest
Conference champions.

Nichols developed four All-
Americans, his players set 33
school records and he had 100
per cent graduation among his
players.

In 2006, Nichols was inducted
into the Women's Basketball
Coaches Association's 600 vic-
tory club, having posted a 70
per cent career winning per-
centage during his 32 years on
the bench.

For his success, Nichols was
inducted into the Women's
Basketball Coaches Associa-
tion's Hall of Honour in 1999.

Johnson is hoping that the
Bahamas will continue to be
the recipient of Nichols’ wealth
of knowledge for the 11th con-
secutive year this week.



IN BRIEF, from page 12

GYMNASTICS
STAR GYMNASTICS
OPEN HOUSE

BAHAMAS Star Gymnastics, the newest club
on the local scene, is scheduled to host an Open
House from noon to 3pm on Saturday at the
Source River Centre, formerly Bacardi plant.

During the opening, interested persons can
learn more about the club, meet the local coach-

ing staff and families.

In July, 2010, the newest gymnastics school
will launch its Bahamas Summer Camp-StarMa-
nia. On Saturday, interested persons can get their
application forms for the camp.

It is expected that the US Coach Partners from
New Mexico, Michigan, and Illinois will be in

Fi lefe) ate)



town to assist the organisers as they stage the

summer camp that is open to competitors
between the ages of 4-16.

Road.

BASKETBALL

SMITH SUMMER CAMP

THE second annual Sherman Smith Summer
Sporting Camp is set to take place from today
through July 23 at the Carlton E Francis Prima-
ty School on Faith United Way, off Blue Hill

The camp is slated to run 9am to 1pm for boys
and girls between the ages of 5-17 years. They will
get the opportunity to participate in basketball,

volleyball and soccer.

ANDS OF THE

mas

Camp director is coach Sherman Smith. Inter-
ested persons can contact him @ 341-6601.

TL ewes

La
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 14, MONDAY, JUNE 21, 2010

TRIBUNE SPORTS



INTERNATIONAL SPORTS



Italy held to another WCup
draw,

By CHRIS LEHOURITES
AP Sports Writer

JOHANNESBURG (AP)
— Four-time champion Italy
was on the wrong end of the
latest surprising result at this
year's World Cup, held to a 1-1
draw Sunday by New Zealand.
Brazil had no such trouble,
advancing to the round of 16
with a 3-1 win over Ivory Coast.

The defending champion
Italians got their only goal in
the Group F match in Nelspruit
from the penalty spot, further
exposing the team's lack of fin-
ishing power up front.

In the other group match,
Paraguay beat Slovakia 2-0 in
Bloemfontein.

New Zealand took the early
lead against Italy when Shane
Smeltz tapped in a ball that had
glanced off defender Fabio
Cannavaro. It was New
Zealand's only shot on goal the
entire match.

Vincenzo Iaquinta equalized
in the 29th from the penalty
spot after Tommy Smith
brought down Daniele De
Rossi in the area.

"Once again the opponent
scored on their first chance,"
Italy coach Marcello Lippi said.
"We were able to control the
game after that, but this was a
match we should have won."

New Zealand is playing at
only its second World Cup. The
Kiwis lost all three matches in
1982, but have two points from
two matches this time — the
same as Italy.

"I think that stopped the
nation," New Zealand coach
Ricki Herbert said. "It's the
most incredible result we've
had across the board. As a foot-

E10 CRO COR

tek



if

REFEREE Stephane Lannoy of France (center) shows a yellow card to Brazil's Kaka (right) during the World Cup
group G match between Brazil and lvory Coast at Soccer City in Johannesburg, South Africa, yesterday...

ball coach, it's way above any-
thing we've achieved in the his-
tory of the game.”

At Soccer City, Luis Fabiano
scored two goals and Elano
added the other as the five-time
champion Brazilians dominated

possession for most of the
match.

Luis Fabiano gave Brazil the
lead in the 25th minute with a
hard shot from close range that
easily beat Ivory Coast goal-
keeper Boubacar Barry. He

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(AP Photo)

added another in the 50th, but
television replays showed that
the Brazil striker handled the
ball at least once, maybe twice.

"It's difficult to deal with
Fabiano, but it's even more dif-
ficult if he's allowed to use his

hands," Ivory Coast coach
Sven-Goran Eriksson said.
"They got a goal free. That's a
2-nil goal — that changed
everything.”

Luis Fabiano later admitted
that it bounced off his hand.

"It's true, the ball really
touched my hand and then my
shoulder," Luis Fabiano said.
"But it was involuntary. It was
one of the greatest goals I've
scored in my career.”

Elano scored the third goal in
the 62nd, but Ivory Coast strik-
er Didier Drogba pulled one
back in the 79th with a header.
Elano was carried off on a
stretcher just a few minutes lat-
er with an ankle injury after a
tough tackle.

Drogba was playing in his
second match since breaking
his right arm in a warmup
match on June 4. He came on
as a late substitute in Ivory
Coast's 0-0 draw with Portugal
on Tuesday.

Kaka was sent off with two
yellow cards, the second coming
in the 88th minute after Kader
Keita ran into the Brazil play-
maker and then fell to the
ground clutching his face.

"The red card was complete-
ly unfair," Brazil coach Dunga
said.

Enrique Vera and Cristian
Riveros each scored for
Paraguay, which leads the
group with four points after an
opening 1-1 with the Italians.

Vera scored the first goal in
the 27th minute, taking a pass
from Lucas Barrios and slip-
ping it past Slovakia goalkeep-
er Jan Mucha. "It was lucky
that I could score," said Vera,
who was named man of the
match. "The first goal came at

Brazil advances

the best moment in the first half
and then we wanted to keep
possession of the ball and the
second goal made us calm.”

Riveros added the second
goal in the 86th with a left-foot-
ed shot.

In France's camp, chaos
erupted again as the players
refused to train in protest
against Nicolas Anelka's expul-
sion from the squad.

Anelka directed a a profani-
ty-laced tirade at coach Ray-
mond Domenech, and after
refusing to apologize, was boot-
ed from the team.

The players said in a state-
ment read by Domenech that
the French federation did not
try to protect the group.

"As a consequence and to
show our opposition to the
decision taken by officials of
the federation, all the players
decided not to take part in
today's training session,"
Domenech read from the state-
ment.

France team director Jean-
Louis Valentin resigned amid
the trouble.

"Tt's a scandal for the French,
for the young people here. It's a
scandal for the federation and
the French team," Valentin
said. "They don't want to train.
It's unacceptable.

"As for me, it's over. I'm
leaving the federation. I'm sick-
ened and disgusted," said
Valentin, who walked away
from the training field, got into
a car and drove off.

Also, the man who allegedly
intruded on the England team's
dressing room after a World
Cup match was released on bail
and ordered to appear in a
Cape Town court on Monday.

Seminar warns athletes of dangers of
using performance enhancing drugs

FROM page 12

roles and responsibilities, test-
ing by RADO, athletes’ where-
abouts, doping control proce-
dure, the prohibited list and
therapeutic use exemptions and
WADO's education and infor-
mation programmes.

Swimming sensation Dioni-
sio Carey, one of the youngest
athletes in attendance, said he
was quite pleased with the
information he received.

“Tt was very informative and
I’m glad that it's coming into
effect in the Bahamas,” said the
13-year-old Queen's College
student, who hopes to repre-
sent the Bahamas at the 2012
Olympic Games in London,
England.

"T think I'm better prepared

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to deal with all this. It’s better
to know it now than find out
about it five minutes before I
have to go through the
process."

If there was any aspect of the
seminar that left Carey amazed,
he said it was the whole process
which the athletes have to go
through to take their doping
test. But he admitted that with
a first hand experience of what
to expect, he feels confident
that he can handle it.

Murrell, the regional admin-
istrator for the Caribbean
RADO, said what they saw was
similar to a doping seminar held
recently in his home country of
Barbados.

“T believe that with the impe-
tus that has happened over the
last few weeks with Pauline
Davis-Thompson receiving a
gold medal from the 2000
Olympic Games in Sydney,
Australia, the educational
aspect of it, going into the
schools, will only benefit the
Bahamas in the long term,”
Murrell said.

As for the Caribbean region,
Murrell said collectively, “we
have received a great deal of
success in the past decade, espe-

cially the Bahamas.

“That success has had per-
sons looking at us at our ath-
letic programme, so it is impor-
tant for the Caribbean to get
all of its anti-doping pro-
grammes in place so that they
won't be able to point at us for
any infringements."

And May, the senior manag-
er of programme development
for WADA, said the seminar
was a great first step in the
introduction of anti-doping in
the Bahamas.

"It's quite evident from the
turnout here today, especially
with the young athletes, is a
sign that the Bahamas is head-
ing in the right direction," May
said. "So once the Bahamas can
educate all of its athletes and
coaches, they should continue
to have a rewarding athletic
programme."

But May said it's going to be
important for the stakeholders
to disseminate as much of the
information to all of its athletes
who didn't attend, and for the
sporting bodies to work closely
with the Bahamas Anti-Dop-
ing Commission to ensure that
they limit the amount of “drug
cheaters” in the future.

Davis Cup team hopes to take
Bahamas ‘to the next level’

FROM page 12

The bottom nation(s) in each
pool will compete in the “rele-
gation” round-robin pool July
10-11. Previous results against
nations in this pool are also
counted. The two losing nations
will be relegated to Americas
Zone Group IV.

Joining the Bahamas in the
round robin are Aruba, Bermu-
da, Costa Rica, Haiti, Jamaica
and Puerto Rico.

Making up the opposing
teams are:

Aruba: Clifford Giel,
Mitchell de Jong, Ricardo
Velazquez, Gian Hodgson
(playing captain).

Bermuda: Gavin Manders,
David Thomas, Neal Towlson,
Na’Im Azhar, Steve Bean (cap-
tain).

Costa Rica: Pablo Nunez,
Ignaci Roca, Federico Chavar-
ria, Fernando Martinez, Jose
Carlos Hidalgo (captain).

Haiti: Olivier Sajous, Joel
Allen, Jean-Marc Bazanne,
Nicolas Etienne, Louis Iphton
(captain).

Jamaica: Dominic Pagon,
Cadren Todd, Yussuf Migoko,
Damion Johnson (playing cap-
tain).

Puerto Rico: Alexander
Llompart, Eduardo Pavio-
Suarez, Jose Perdomo, Ricar-
do Gonzalez —Diaz, Jorge Gon-
zalez (captain).

Scheduling problems would
not allow the players to remain
in Puerto Rico for the Central
American and Caribbean
Games that are slated to begin
a week later.

So once the team returns
from Davis Cup, three of the
players will head back to Puer-
to Rico for the CAC Games set
for July 17 to August 1.

They are Mullings, Neilly and
Rolle, who will be joined by
Grand Bahamian Rodney
Carey. The team will be cap-
tained by Sean Cartwright.

On the women’s side, nation-
al champion Nikitta Fountain
will head the team that will also
comprise of Kerrie Cartwright
and Elanqua Griffin.

The BLTA is also hoping to
include Grand Bahamian
Larikah Russell on the team
that will be captained by Der-
ron Donaldson.

Both Fountain and Russell
were cut from the Fed Cup
team after they opted not to
play in the December Invita-
tional for various reasons.

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

MONDAY, JUNE 21, 2010, PAGE 15
LOCAL NEWS



Scientists to
investigate
suspected
oil sightings

FROM page one

firm or deny the presence
of oil in Bahamian waters.

The scientists include
leading marine ecologist Dr
Ethan Freid and marine
biologist Kathleen Sealy
from the IMO.

Environment Minister
Earl Deveaux said: “The
group going to Cay Sal will
continue any pre-impact
assessment. This group will
do a more detailed assess-
ment than the first group.

“We are doing it to
ensure that we have docu-

mented proof of the condi-
tions that existed prior to
the impact of the Deepwa-
ter Horizon oil spill.

“The likelihood of fresh
oil coming to the Bahamas
is indeed remote. The oil is
approaching 60 days old
from the first spill. We are,
according to all the best sci-
entific information, likely
to get oil that is weathered
in the form of tar balls.
What we do not know
about is the expanse of the
dispersense and what
impact they would have and
that’s why we want to doc-
ument the conditions in
advance of any impact from
the Deepwater Horizon oil
spill so we can measure it
going forward.”

According to Mr
Deveaux, all the initial
expenses for the pre-impact
assessment is being handled
through NEMA.

“The companies in Grand
Bahama have in stock more
than 30 per cent of any nec-
essary equipment that we
would use if we were
required to respond to say,
Cay Sal, Bimini, Freeport
Harbor or West End. These
are the proximate areas
where the likelihood of
land fall would first occur,”
Mr Deveaux said.

More than 1,000 people
have volunteered to assist
in the oil spill clean-up
effort, said Mr Deveaux.

“T think the issue we
would have would not be
the number of persons will-
ing to assist but how we
would coordinate the level
of preparedness to assist to
make it most effective,” Mr
Deveaux said.

The Attorney General’s
office is exploring all legal
options in the event the
government has to seek rec-
ompense from any impact
the BP oil disaster has on
the Bahamas.

“We have taken the
information we have to
date, and the Attorney
General’s office is explor-
ing all of legal options with
respects to British Petrole-
um and the United King-
dom in the event we seek
recompose from any disas-
ter that hits the Bahamas.
We hope that none does,”
the Minister added.



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THE TRIBUNE

uUSINeSS

2010

MONDAY,

UnCeNgEoe 2 ies

SECTION B « business @tribunemedia.net



40% group fall ‘big bugaboo’ for hotels

By NEIL HARTNELL
Tribune Business Editor

* Group market, accounting for 25-30% of business, unlikely to rebound until late 2011



he “big bugaboo” for the
Bahamian hotel indus-
try’s turnaround is the
depressed group market,
a leading Bahamas Hotel
Association (BHA) executive has said,

that category - which accounts for 25-

30 per cent of business at many resorts
- having dropped by around 40 per

cent during 2009.

Frank Comito, the BHA’s execu-
tive vice-president, told Tribune Busi-
ness that while the hotel industry had

BISX hopes ‘milestone’
can open $3bn market

By NEIL HARTNELL
Tribune Business Editor

T H €E
Bahamas
International
Securities
Exchange
(BISX) is
“looking for-
ward to getting
more direct |
[primary] list-
ings in the
future” from
the Govern-
ment after last week completing
the secondary listing of the lat-
ter’s $300 million bond, hoping
to provide listing and trading
services for a market potential-
ly worth $3 billion.

Keith Davies, BISX’s chief
executive, told Tribune Busi-
ness that the exchange would
continue to promote its avail-
ability and ability to list all gov-
ernment-issued securities,
including Bahamas Govern-
ment Registered Stock (BGRS)
and Treasury Bill issues, fol-
lowing the listing of the $300
million bond that the Ingraham
administration placed with
international investors late last
year.

This is the first government-
related listing since the first
Ingraham administration, more
than 10 years ago, pledged to
use BISX in this manner for all
its debt securities issues, and
Mr Davies acknowledged it
would be “advantageous and
beneficial to all to have the
largest issuer of securities
involved” in the Bahamian cap-

DAVIES



* ‘Looking forward’ to
future listings and trading
of all government securities
issues, following secondary
listing of government’s
$300m bond

* BISX chief says Bahamas’
largest issuer, government,
‘must be involved’ to
develop capital markets

* Exchange awaiting listing of
RoyalFidelity fund, more
international recognitions
and approval of new Rules

ital markets.

Describing the $300 million
bond’s secondary listing as
“another milestone” in BISX’s
development, Mr Davies said:
“This is the first formal inter-
action with a government secu-
rity based on their decision to
list. It is a milestone in terms
of our future.

“It is the first of this type of
security to list in our market.
We are excited and pleased that
the Government saw fit to
place it on our market at this
time, and look forward to get-
ting more direct listings in the
future.”

Acknowledging that there
had been “discussion and talk”
about the Government, and all
its corporations and agencies,
listing and trading their respec-
tive debt securities via BISX,

SEE page 3B

Tax rises put truck import
costs above purchase price

By NEIL HARTNELL
Tribune Business Editor

CONSTRUCTION industry
costs will increase as a result of
the Government’s decision to
increase taxes on commercial
vehicle imports, the Bahamian
Contractors Association’s
(BCA) president telling Tri-
bune Business that this, com-
bined with all other import-
related costs, could be worth
more than the vehicle’s pur-
chase price.

Stephen Wrinkle, who heads
Wrinkle Development Compa-
ny, told this newspaper that the
2010-2011 Budget’s move to
raise the Excise Tax for com-
mercial vehicles from 60 per

Budget may
‘put brake on’
government

By NEIL HARTNELL
Tribune Business Editor

A LEADING businessman
believes some good may come
from the 2010-2011 Budget by
“putting a brake on the size of
government”, although he
acknowledged that the painful
austerity measures would fur-
ther prolong the Bahamian
economy’s recovery from one
of the deepest recessions ever
seen.

Franklyn Wilson, the Royal-
Star Assurance and Sunshine
Group chairman, told Tribune
Business that while the Bud-
get’s tax increases would

SEE page 5B

Absence of Budget incentives
means business sector will have
hard time getting out of recession,
says Contractors’ chief

cent to 85 per cent would
increase costs throughout the
construction industry, and fail
to achieve the Government’s
environmental objectives as
companies were likely to keep
high-polluting trucks on the
road for longer.

“It’s going to raise the cost
of doing business in the sector,
and force people to keep those
old trucks on the road,” Mr
Wrinkle told Tribune Business.

SEE page 4B

‘Lazy Budget’
under attack

By NEIL HARTNELL
Tribune Business Editor

A FORMER Chamber of
Commerce president has criti-
cised the Government for pro-
ducing “a lazy Budget” that
failed to display innovation in
creativity, instead imposing a
further burden on industries
that were already heavily taxed.

Dionisio D’Aguilar, who is
also Superwash’s president, told
Tribune Business that the 2010-
2011 Budget should have
imposed new tax regimes on
the local numbers/gaming
industry and telephone calls,
arguing that the Government
should have spread the burden
of some $100 million in tax
increases over a wider number

SEE page 4B

seen “positive movement in the right
direction” during the 2010 first quarter,
consistent with a 5.4 per cent rise in air
arrivals nationwide for the three
months of the year, group business
was unlikely to rebound fully until the

2011 second half.

“That’s the big bugaboo at the — ry
moment; the group business,” Mr
Comito told this newspaper. “When
you look at the contribution of what
we’ve been able to capture on the

* BHA executive says ‘a number of group negotiations in play now at a higher level
than we’ve seen for a few years’, but Bahamas in real fight to maintain market share

* Bahamas air arrivals up 5.4% for 2010 Q1, with cruise business ahead by 10.5%

* ‘Every dollar can make or break a deal’

leisure side, it’s been a very good sto-

“The group business represents 25-
30 per cent of business, and if we’re
not able to capture a good slice of that
because the market is not coming back

very strongly yet, we’re going to strug-
gle to capture the share on the other
side of it.”

Mr Comito added that he had “been
told by several hotels that group busi-
ness in 2009 dropped by roughly 40
per cent”, and the Bahamas was now

facing an increasingly competitive mar-
ket as it fought with numerous other
destinations to both maintain - and

increase - its share of a shrinking mar-
ket.

“Because of the fiercely competi-
tive nature of the group business, with

SEE page 6B

Car dealers: ‘We can’t give the house away’

By NEIL HARTNELL
Tribune Business Editor

THE 2010-2011 Budget tax
increases imposed on the auto
industry have already made
their presence felt prior to com-
ing into effect, forcing Bahamas
Motor Dealers Association
(BMDA) members to abandon
plans to “buy down” auto loan
interest rates as part of a five-
week promotion with Scotia-
bank.

Rick Lowe, operations man-
ager at Nassau Motor Company
(NMC), one of three partici-
pating dealers along with Exec-
utive Motors and Quality Auto,
told Tribune Business that the
companies had been forced to
ditch plans to “buy down” the
original 7 per cent rate being

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





Budget tax increases force motor dealers to abandon plans to
‘buy down’ interest rates on loans in promotion with Scotiabank

offered by the bank to potential
purchasers, because they would
effectively have “given away
the house”.

“We were going to buy it
down,” Mr Lowe said of the
original plans for the interest
rates, “but to give away all prof-
it with inventory as low as it is
and prices increasing dramati-
cally, we didn’t see the sense in
buying it down. It just wasn’t
practical.”

Originally, Mr Lowe said the
plan had been for the dealers to
effectively “buy down” the
interest rates attached to the
Scotiabank loans to as low as
4 per cent or 5 per cent, giving
new car purchasers extremely
low repayment rates for the
loan’s duration.

Yet, with the 2010-2011 Bud-
get’s increased rates and
amended Excise Tax structure
set to increase the price of all
autos sold in the Bahamas, Mr
Lowe explained to Tribune
Business: “We can’t give the
house away. We’ve got employ-
ees to worry about, salaries to
pay and bills to pay.”

He added that NMC’s sales-
persons had been disappoint-
ed with the outcome of the pro-
motion’s first week, but the
company and other dealers are
all going to “stick it out”.

“The people are coming, the
sales people had a few expres-
sions of interest, but it’s like
the Car Show. You have the
enthusiasm, but then people
have to get the loan,” Mr Lowe
said. “There wasn’t the amount
of interest in the cars that we’d



hoped, but it’s a good way to
promote the product. People
can see, touch and feel it, it
saves them going to several dif-
ferent places and we’re in busi-
ness, SO we’ve got to be there.”
He explained that Scotia-
bank was opening a different
branch each weekend to facili-
tate the lending requirements
of potential purchasers, in addi-
tion to showcasing its line of
mortgage and savings products.
The Government had origi-
nally planned to consolidate the
auto vehicle Excise Tax regime
down to two rates, 65 per cent
and 85 per cent, with the appro-
priate rate determined by
engine capacity. All vehicles
with less than 2,000 cc capacity
would have attracted the lower
rate, with the higher one
applied to all others.
Following representations
made by the Bahamas Motor
Dealers Association (BMDA),
Prime Minister Hubert Ingra-
ham amended his plans slightly,

Ce a ee Pe

BREITLING BOUTIQUE

en oe ee Ee

introducing a 75 per cent rate
for vehicles with engine capac-
ity between 2,000-2,500 cc - a
move he said would aid some
Honda, Mazda, Ford and
Hyundai models. All those
below 2,000 cc will still pay a
65 per cent duty rate, and those
above 2,500 cc, 85 per cent.

The former duty regime had
arate of 55 per cent levied on
vehicles with a value of $0-
$9,999. For vehicles valued at
$10,000-$19,999, the duty rate
was 60 per cent, and for those
valued between $20,000-
$24,999, 75 per cent. Only vehi-
cles worth more than $25,000
would carry a duty rate of 85
per cent. Commercial vehicles
were taxed at 60 per cent.

Mr Ingraham said this
change was not expected to
impact the Government's rev-
enue projections in any way,
and it would still stimulate con-
sumers to switch their buying
habits to smaller, more fuel-
efficient vehicles.

He acknowledged that there
were likely to be questions as to
why the Government had not
sought extra revenue by
increasing taxes on gasoline,
which were easily collectible at
the Bahamas’ borders.

Pointing out that a $0.01 per
galloon increase in taxes could
have generated an extra
$780,000 in revenue for the
Government, the Prime Minis-
ter said his administration had
decided that reducing the
Bahamas’ annual 78 million gal-
lons of gasoline consumption
was the way to go.


PAGE 2B, MONDAY, JUNE 21, 2010

THE TRIBUNE

@ ROYAL FIDELITY MARKET WRAP



market.

Investors traded in five out of
the 24 listed securities, with one
decliner and the other securities
remaining unchanged.

By RoyalFidelity Capital
Markets

IT WAS a moderate week of
trading in the Bahamian stock

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EQUITY MARKET

A total of 141,868 shares
changed hands, representing an
increase 109,525 shares com-
pared to last week's trading vol-
ume of 32,343 shares.

Doctors Hospital Healthcare
Systems (DHS) was the volume
leader and big decliner, trad-
ing 90,060 shares to see its stock
close the week down by $0.50 at
$2.

Commonwealth Bank (CBL)
followed, trading 49,000 shares
to close the week unchanged at
$6.30.

BOND MARKET

There was no activity in the
Bahamian bond market last
week.

COMPANY NEWS

Earnings Releases:

There were no earnings
releases from any of the listed
companies last week.

Dividend Notes:

Doctors Hospital Healthcare
Systems (DHS) declared an
extraordinary dividend of $0.02
per share, payable on June 22,
2010, to all shareholders of
record date June 15, 2010.

Commonwealth Bank (CBL)
has declared a dividend of $0.05
per share, payable on June 30,
2010, to all shareholders of
record date June 17, 2010.

Cable Bahamas (CAB) has
declared a dividend of $0.08 per
share, payable on June 30, 2010,
to all shareholders of record
date as at June 24, 2010.

Premier Commercial Real
Estate Investment Corporation
(PRE) has declared a dividend
of $0.20 per share, payable on
July 5, 2010, to all sharehold-
ers of record date June 4, 2010.





International Markets

FOREX Rates

CAD$
GBP
EUR

Commodities

Crude Oil
Gold

International Stock Market Indexes:

DJTA

S & P 500
NASDAQ
Nikkei

Weekly % Change
0.9798 1.36
1.4832 1.92
1.2387 2.30
Weekly % Change
$78.41 4.07
$1,257.10 2.43
Weekly % Change
10,450.64 2.35
1,117.51 2.37
2,309.80 2.95
9,995.02 2.99







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The Bahamian Stock Market

BISX CLOSING CHANGE VOLUME YTD PRICE
SYMBOL PRICE CHANGE
AML $1.05 $- 208 -10.26%
BBL $0.30 $- 0 -52.38%
BOB $5.20 $- 500 -11.86%
BSL $9.42 $- 0 -6.36%
BWL $3.15 $- 0 0.00%
CAB $11.95 $- 0 19.74%
CBL $6.30 $- 49,000 -10.00%
CHL $2.60 $- 0 4.41%
CIB $9.81 $- 0 -1.80%
DHS $2.00 -$-0.50 90,060 -21.57%
FAM $6.07 $- 0 -6.47%
FBB $2.17 $- 0 -8.44%
FCC $0.27 $- 0 0.00%
FCL $4.58 $- 2,100 -3.98%
FCLB $1.00 $- 0 0.00%
FIN $8.90 $- 0 4.09%
ICD $5.59 $- 0 0.00%
JSJ $9.95 $- 0 0.00%
PRE $10.00 $- 0 0.00%

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THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 3B



Se =
Ministry of Tourism’s ‘new Dawn of Hope’

By NEIL HARTNELL
Tribune Business Editor

THE Ministry of Tourism is
hoping that 2010 first quarter
arrivals figures represent “a

Acknowledges Bahamians ‘in dire need of inspiration’, as youth
unemployment hits 26.2% or more than one in four

Cruise’s Costa Atlantica and
Costa Fortuna were the next
big contributors to the increase
in cruise passenger arrivals to
the Bahamas.

In 2009, Costa Atlantica did

Bahamas during the first quar-
ter. In first quarter 2010, Costa
Cruises brought in 348.5 per
cent more cruise passengers
than in the same period of 2009.
Carnival is the parent company

new Dawn of Hope”, acknowl-
edging that Bahamians are “in
dire need of inspiration” as a
result of the recession that has
battered this economy for
almost two years now.

With cruise arrivals for Nas-
sau/Paradise Island and Grand
Bahama as first ports of call up
by 22.9 per cent and 41.8 per
cent for the three months of
2010, the Ministry of Tourism,
in its latest market update,
acknowledged that while the
2010 first quarter performance
promised “new light” for the
largest private sector industry,
continued improvement
depended on the respective
strengths of the US, Canadian
and European economies.

“In the 2010 first quarter
arrivals to the Bahamas began
to see new light, as the per-
centage growth in arrivals con-
tinued their upward trek. At
the end of the 2010 first quar-
ter, foreign air and sea arrivals
to the Bahamas were up by 9
per cent (air arrivals were up
5.4 per cent and sea arrivals
were up 10.5 per cent),” the
Ministry of Tourism said.

“Stopover visitors to the des-
tination were up from the US
(primarily in March), Canada,
Europe, Latin America and
other parts of the world in gen-
eral. The only primary market
to the Bahamas that faltered in
first quarter 2010 was stopovers
from the Caribbean.

“March 2010 was really fruit-
ful this year and helped to pro-
pel first quarter arrivals up sig-
nificantly. In March and April
of each year, thousands of
spring-breakers converge on
the islands of the Bahamas as is
tradition.”

While US consumer spend-
ing had increased by 7 per cent
during the 2010 first quarter,
the Ministry of Tourism
acknowledged that whether the
improving trends continued
depended on if economic recov-
eries there and in Canada and
Europe could be maintained.

Charting the recession’s
impact on the Bahamas, the
Ministry’s update noted that
youth unemployment in this
nation had soared by more than
eight percentage points in one
year, hitting 26.2 per cent in

2009 as opposed to 17.6 per
cent the year before. The for-
mer figure means that one in
four young Bahamians cannot
find work.

In addition, household
income fell from $43,459 in
2008 to $38,314 in 2009, as the
recession took hold.

“The hotel sector in the
Bahamas was not the only area
affected by this economic reces-
sion that had begun in the Unit-
ed States,” the Ministry of
Tourism said. “Job losses in the
Bahamas began to occur in oth-
er industries as well.

“In 2009, industries in the
Bahamas such as: construction,
manufacturing (15 per cent
decline), transportation/stor-
age/communication sector (-22
per cent),
community/social/personal ser-
vice industry (this sector
includes the civil service, police
and domestic service), skilled
agricultural and fishery workers
(-26 per cent), the profession-
als/technicians/associate pro-
fessionals (-12 per cent) and
elementary occupation (-11 per
cent) all contributed to an

increased unemployment rate
in the Bahamas.”

Assessing the reasons behind
the increase in cruise passen-
ger arrivals, the Ministry of
Tourism said: “Most of the
increase by first port of entry
to the Bahamas overall came
from Royal Caribbean Inter-
national’s Oasis of the Seas.
Royal Caribbean’s Freedom of
the Seas helped to push the
increase in cruise arrivals even
higher. With the introduction
of the Oasis of the Seas and the
Freedom of the Seas to the
Bahamas itinerary, it increased
the number of passengers
brought in by Royal Caribbean
by 68.3 per cent.

“Carnival Cruise line’s Car-
nival Dream, Carnival Liberty,
Carnival Pride and Sensation,
together were the next big con-
tributors to the increase of
cruise passengers to the desti-
nation. Carnival Cruise lines
(by itself not including their
other cruise lines) brought in
17.7 per cent more passengers
in the 2010 first quarter than in
the same period of 2009.

“The combination of Costa



BISX, from page 1B

Mr Davies said the exchange’s focus was to
show it had the ability to facilitate all this.

“T have no doubt in my mind that even-
tually, in the future of the capital markets of
the Bahamas, that those [government] secu-
rities mentioned will be listed and traded on
the exchange,” he added.

Acknowledging that the Government
was likely to be focused on other issues,
the BISX chief said “that in the greater
scheme of things, look at the benefits” the
listing and trading of its securities via the
exchange would bring, in terms of greater
efficiency, better price discovery, more
investment options and enhanced trans-
parency and accountability for the capital
markets.

Mr Davies said the government securities
market could potentially be worth about $3
billion, with more than 100 BGRS and
Treasury bill tranches outstanding in the
market every year, new issues arriving and
others being retired.

“It is advantageous and beneficial to all
parties to have the largest issuer of securi-
ties involved,” Mr Davies said. “To the

extent that the Government of the
Bahamas can use the market to list, trade
and ultimately issue its securities ties in
directly to how quickly we will develop a
securities market for similar securities and
other securities in the marketplace. We
must have the largest issuer involved.”

Because it is a secondary listing, the $300
million bond, which carries a 6.95 per cent
interest coupon and is due to mature in
2029, will not add to BISX’s $3 billion mar-
ket capitalisation.

In this case, the $300 million bond’s pri-
mary listing is on the Luxembourg Stock
Exchange, meaning that exchange had pri-
mary responsibility for maintaining regu-
latory oversight of the security, ensuring
it adhered to reporting and due diligence
requirements.

Mr Davies said he would see if arrange-
ments to trade the $300 million bond could
be implemented in the Bahamas, given that
“some local elements” had invested in it.

He added: “TI believe that our Secondary
Listing Facility is an interesting option for
a certain type of security, specifically secu-
rities that are listed on another exchange
but that wish to retain ties to the Bahamas.

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

FINANCE CLERK Il - ACCOUNTS PAYABLE
FINANCE DIVISION

Securities listed in this fashion would be
primarily regulated by their primary
exchange, the securities would not be trad-
ed over the exchange, but BISX would
report the securities’ closing price from
their primary listed exchange.

“One of the things that we have tried to
develop at BISX is offering a variety of
listing options that meet the varied needs of
issuers in our market. We are excited by
this first ever debt listing by the Govern-
ment of the Commonwealth of the
Bahamas, and we eagerly await the day
when all Bahamian Government debt is
listed and traded in the Bahamas on BISX.”

Elsewhere, Mr Davies said BISX was
looking forward to another listing, that of
RoyalFidelity’s TIGRS II commodities
sub-fund. The exchange, he added, was
also looking to secure more ‘international
recognitions’, following on from the one
received from the UK’s Revenue and Cus-
toms authority.

“We have some recognitions that we are
focusing on,” Mr Davies said, adding that
BISX was also looking to advance and
implement new Rules for listing and issuers’
continuing obligations.

not even come into the for Costa Cruises.”



Progressive

ransumer Se MWICES











Progressive Peaple, Progressive Services,
Always Progressive!





#09 Lagoon Court
Olde Towra Mall, Sanedypert
Nassau Bahamas
PO. Box SPB?

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nightmare.

Tal. 242-327-4037
Fax 342-127-004
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Krys RAHMING & ASSOCIATES

[Raohamas) Limited

GLOBAL FNOWLEGGE « LOCAL PERSPECTIVE

Insolvency and Dispute Consulting Seminar 2010
British Colonial Hilton
Governors Ballroorn

A vacancy exists in the Corporation for a Finance Clerk II — Accounts Payable in

the Finance Division.

Nassau, Bahamas











Responsibilities of the position include, but are not limited to the following:

Frida

ie
ea

Hieaklasty Feagiateatioe

° Processing invoices for payment by checking accuracy of calculations,
coding and authorized signatures;

Welcane Renarks

flr. Ed Raliming. Managing Director, Krys Rahening & Associaies

Posting invoice disbursements and journal entry data into the accounts

payable system;

Reconciling statements of account for local vendors with balance due
in excess of $5,000.00. This involves generating open payables report to

ensure correctness of entries and vendor balance;

Maintaining and reporting on the Corporation’s meal voucher system;

Preparing schedules (source data for aged payables etc.) or other task

requested by Supervisor or Manager;

Presentation:

The Bahaeias a5 ani Internaiional Artetration Centre

Honorable Elizabeth 5. Sting, U5 Banknugncy Court, Eastern Disrrigt caf ew Yeni

Pane!

Diarra

“How dha wee burr the Babe tials ile a majar Arbmeation Cente”

hlodaeat ii

Mr. Hugh Small, OC, Consultant Counsel, Graham Thompson

Panelists

-hangrable figabeth 6, jtang

Mr. Brian Sime, OC, Partner, Lenniow Paton
“Mr, Vann Guitar, Partner, Higgs & lebrace

Assisting with maintenance of the cheque log and disbursing cheques for
vetting and approved signatures;

Assisting with the filing system of accounts payable documents and fol

lows up on outstanding obligations to local vendors; and

Assisting with resolving vendors disputes/queries.

Job requirements include:

A minimum of an Associate Degree
(Accounts, Business Administration);
A minimum of 2-3 year experience;
Thorough working knowledge of the Disbursement Processing module
within the HTE environment;

Ability to operate the Call Accounting System and to post invoice data

for processing of payment;

1-Mlam, Coffee Brwak

10-Klam. Prewentation:

The Role of the Firaneceal Expert in | itigatiqn

fr. Ed Rahiming. Managing Director, Krys Rahening & Associates

1am. Pare

Diseyriesian:

“Wadoll Goes Oélchore; Gross order Insgheency saves”

fdoderatgr
Honorable Blzabeth 5S. Stong, U5. Baniruptcy Court, Basten District of New York

Panalets
“Mir, Bennett 1. erys, CEO and Rounder Krys & doce
Wis. Margot Micininis, Managing Director, kya & Associates

150 a.m. Closing Remarks

fir. Mennath W. Krys, CEQ) and Founder, Krys & associates









Computer skills and the use of related software (e.g., Cash Management

Software) and computerized spreadsheet tools to prepare reconciliation

and bank transfer schedules; and
Verbal and written communication skills to interact effectively with staff

and the general public.

Cast: $75 [includes registration, brealfest, and material)

Kindly RSVP to Sandra Carling, Krys Qabrning & Associates at sandra.darling@lkrysandassoc.com ar call (ade) $27-1ad?

Cheques payable to Krys Rahming & Associates

Tels evant haw been apne by

tht Bahiartars Bar Assocation) aed the Baharrias bettute of Chanened Accoustanes lor CLEP E credit

Interested persons should apply by completing and returning an Application

Form to: The Manager-Human Resources & Training Department, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau Bahamas

on or before: Friday, June 25, 2010.

About the Company

Ere he Aockatis hia firm dediorted io Corporate Recowery, Incheon, hones Accounting and Busnes Adwtiory Services, The firm
Currently bare offices in the Corian lands, the British Viegin dans, andthe Botamas. The Krys 5 Assoclries network & curently the

Mngt iid operiden group a! fine ia Whi Cavibbaan fost on inmcheiniey, hana rik: ackeunbig ind Ligaen duppO Mirch More
Morrrartion on the firm can be tound on ite website of way kre een: COM

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


PAGE 4B, MONDAY, JUNE 21, 2010

THE TRIBUNE



=
Tax rises put truck import costs above purchase price

FROM page 1B

“That is a catastrophe, because
we will have a lot of high pol-








































THE BAHAMAS SOCIETY OF ENGINEERS

Tite Public ic Condiolty Inurted Th attend
THE MONTHLY LUCE PRESENTATIONS
Hhisted hy The Baling: Society of Engineers

Vue bab
I uit ‘Thien
Proudly
Sypuniieereal
ley

(in

Wednesday, June 23, 2010

Guest Speaker

MR. KIRK GRIFFIN
Acting President & CEO

The Bahai Teleonmninications Coanpuny

Topir
"The Future of Teleconmmunications in the Bahamas
and the Role of Bahamian Engineers.”
PLACE:

GRAYCLIFF HOTEL AND RESTAURANT
Fast Hill Sirinet

Time: 12:00 pam. - [2:15
Registration aod Networking
12:15 - 1:15 Lonecheon

Flnwecal Members: S201
Stodlent Venere: $15.18)
Pablie : $25.00

luting trucks on the roads.”

Typically, specialist trucks
purchased for use in the con-
struction industry cost between
$50-$60,000, the BCA president
said, with the big Mack trucks
costing up to even $100,000.

“Tf you buy a $100,000 truck,
and add on duty, insurance,
freight and handling, that could
well be 100 per cent of the pur-
chase price,” Mr Wrinkle
added.

“You’ve got to recoup
$200,000, $220,000 on the vehi-
cle, which is more difficult to
do. The cost of sand, the cost of
fill, delivery costs across the
industry are going to go up.
Contractors and truckers are
not able to absorb these costs.
Any time these changes hap-
pen, you have to increase the

‘Lazy Budget’

FROM page 1B

price of the product.”

Assessing the Budget over-
all, Mr Wrinkle said that while
the Government had to tackle
the nation’s fiscal problems,
which included a rising nation-
al debt and fiscal deficit, it had
contained nothing to stimulate
growth in the Bahamian pri-
vate sector.

With firms in the construc-
tion industry “taking work
below costs to keep their doors
open”, the BCA president said:
“All in all, it’s not good news
for our industry.

“We are very cognisant of
the fact that the Budget needs
to be reviewed in accordance
with the debt burden the nation
is carrying, but the problem we
see in our industry is that there
is no incentive for corporate

the Government should not
have shied away from legalis-
ing, regulating and taxing the
numbers business.

He added that the Ingraham
administration should also have
taxed telephone calls, pointing
to the 5-6 per cent federal and
state levies attached to bills in
the US. However, he acknowl-
edged that the Government
might not want to tackle this
given the ongoing Bahamas
Telecommunications Compa-
ny’s (BTC) privatisation.

of industries.

“In my opinion, it was a lazy
Budget,” Mr D’ Aguilar told
this newspaper, “and it didn’t
look to be creative in taxing
other areas of the economy that
are coming up with new areas
to tax.”

Describing the Budget as “‘a
shock” to businesses in the
auto, liquor production and
light manufacturing industries,
the former Chamber chief said

growth, and with no incentive
for growth in the business sec-
tor, I don’t see how we will
move out of this stagnation
we’re in.

“Unless we put some incen-
tives in place that enable busi-
nesses to grow, we will have a
difficult time working our way
out of this recession. You can
only tax so much out of the
business community, suck so
much out of them, until they
start falling over one by one,
and they you will have no activ-
ity.

“It’s a very difficult scenario
we’ve got ourselves into, and
we just can’t load up on the
back of business and expect the
economy to grow.”

Mr Wrinkle urged the Gov-
ernment to focus on revitalising

the housing market, telling Tri-
bune Business that “without the
housing sector moving forward
we'll be very hard-pressed to
resurrect this economy inter-
nally”.

The BCA president added
that this nation appeared to be
“hitching the wagon to two
horses” in the shape of “big
guns” Kerzner International,
with its planned $100 million
Atlantis expansion, and Baha
Mar’s $2.6 billion Cable Beach
project.

“There’s commercial space
available all over Nassau, so
there’s very little commercial
work going on, and the housing
market is flat,’ Mr Wrinkle
said, pointing to the numerous
foreclosed properties being
advertised in the newspaper.

under attack

Pointing out that apart from
the hotel industry “the whole
service sector is undertaxed”,
Mr D’Aguilar told Tribune
Business: “It would have been
better for him [Mr Ingraham]
to spread a higher burden over
a greater number of people as
opposed to a heavier burden
over a smaller group of people.

“He hit hard the hotels, an
area in distress right now, and
the motor vehicle people. He
hit those two sectors very, very
hard, and I think a little bit
more could have gone some-
where else and exacted more
revenue.

“T understand the need to

come up with more revenue,
but a little more thought could
have gone into raising addi-
tional taxes from other sectors
of the economy. The services
sector is completely under-
taxed. They should have
reformed the Business Licence
Tax to yield a little more from
those companies that are better
able to afford it.”

Mr D’ Aguilar said the num-
bers business, telephone calls
and high profit, low sales com-
panies in the services industry,
especially law firms and
accountants, were the sectors
the Government “could have
exacted taxes from”.

Ua S/T
RMR BRC
US eT are A



If posable please confirm your attendance by email

Tres eee ee |leciitin milano

United Bahamas Prison Ministries

Brand New House

Raffle - June 26th, 2010
Get Your Tickets Now-2 for $100.00

Ticket Outlets

4. How Seo, Nose, Beals
Tels 22-40-3344

wow) bu laniseneineers re

. Scotiabank Main Branch, Rawson Square

. Let's Talk Wireless, Independence Shopping Center
Tonique Darling Highway / Formally Harold Road

NOTICE

The Public is advised that Clifton Heritage National Park
and its Administrative Office

Will Be Closed

from

Wednesday, June 23, 2010 To Friday, June 25, 2010 for
grounds maintenance and staff training.

. R.N.D Quality Convenience Store, R.N.D Plaza
J.F. Kennedy Drive

VICE PRINCIPAL NEEDED

The Anglican Central Education Authority
invites applications from qualified Bahamians
for the position of VICE PRINCIPAL of
St. John’s College High School beginning
September 2010.

TheApplicant must have a Degree in Education
from a recognized University, with at least 5
years accumulative experience. The applicant
must also be computer literate.

We will re-open for business at
9am on Monday, June 28, 2010.

Key job functions and

include:

responsibilities

We Regret Any Inconvenience Caused.

- Assisting with staff supervision and
evaluation

- Admissions and student orientation

- Scheduling (Timetables; examinations,
invigilations)

- Assisting with discipline

- Assisting with supervision of academic
programmes

- Assisting with Curriculum Development

- Administration of School and External
examinations

- Oversee Inventory

- Oversee Requisitions

- Share responsibility for sustaining culture
of excellence throughout the school

- Share responsibility for providing a
climate that fully develop the concept of
teamwork.

= FG

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES
rs

C2] 1 Aw TT.

ROYAL FIDELITY

rey an iaek
crc} T.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 18 JUNE 2010
BISX ALL SHARE INDEX: CLOSE 1,513.39 | CHG -0.04 | %CHG 0.00 | YTD -51.99 | YTD % -3.32
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
52wk-Low Daily Vol. EPS $ Div$

1.00 0.00 0.250

9.67 0.00 0.050

5.20 0.00 0.598

0.30 0.00 -0.877

3.15 0.00 0.168
0.055
1.408
0.511
0.460
0.111
0.627
-0.003
0.168
0.678
0.366
0.000
0.035
0.407
0.952
0.156 64.1

Securit_y
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste

Previous Close Today's Close
1.05 1.05
10.63 10.63
5.20
0.30
3.15
2.17
11.95
2.60

Change

5.20
0.30
3.15
2.17
11.95
2.60

2.14
9.62
2.56
5.00
2.23
1.60

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital

0.00
0.00
0.00
0.00
-0.04
0.00

6.30
2.47
2.00 2.00
Famguard 6.07 6.07
Finco 8.90 8.90
FirstCaribbean Bank 9.81 9.81
Focol (S) 4.58 4.58
Focol Class B Preference 1.00 1.00
Freeport Concrete 0.27 0.27
ICD Utilities 5.59
J. S. Johnson 9.95 9.95 0.00
Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing b
Security Symbol Last Sale Change Daily Vol.
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
52wk Low Symbol Bid & Ask & Last Price. Daily Val.
7.92 Bahamas Supermarkets 10.06 11.06 14.00
6.00 Caribbean Crossings (Pref) 2.00 6.25 4.00
0.40 RND Holdings 0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)
29.00 ABDAB 30.13 31.59
0.40 RND Holdings 0.45 0.55
BISX Listed Mutual Funds
NAV YTD% Last 12 Months %
1.4752 2.54 7.00
2.9020 0.52 -0.11
1.5352 1.86 4.63
3.0368 2.57 -4.99
13.6388 2.03 5.56
107.5706 3.45
105.7706 3.99
1.1127 2.10
2.22
2.23
1.78

6.30
2.43

5.94
8.75
9.50
S75
1.00
0.27
5.00
9.95
10.00

0.00
0.00
0.00
0.00
0.00
0.00

5.59 0.00

5S2wk-Hi 52wk-Low
1000.00
1000.00
1000.00
1000.00

Interest Maturity

19 October 2017

19 October 2022
30 May 2013

29 May 2015

Application forms are available from
the Anglican Diocese office on Sands
Road off East Street. The completed
application together with a cover letter,
statement of educational philosophy and
a recent photograph must be sent to:

EPS $
“2.945
0.000
0.001

Div & P/E
0.000
0.480
0.000

4.540
0.002

0.000

0.55 0.000

52wk-Low
1.3787
2.8266

NAV 3MTH
1.452500
2.886947
1.518097

NAV 6MTH
1.419947
2.830013
1.505009

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund

1.4672 CFAL Money Market Fund

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
FG Financial Growth Fund
FG Financial Diversified Fund
Royal Fidelity Bah Int'l Investment Fund
Principal Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund
Principal Protected TIGRS, Series 2
Royal Fidelity Int'l Fund - Equities Sub Fund

THE DIRECTOR OF EDUCATION
ANGLICAN CENTRAL EDUCATION Authority
P. O. BOX N-656
NASSAU, BAHAMAS

6.99
13.50
5.19

103.987340
101.725415

103.095570
99.417680

1.0000
1.0000
9.1005

1.0917
1.1150
9.5078

6.29
5.65
6.39

10.0000 10.2744 -4.61 8.15

4.8105 7.9664 3.23
MARKET TERMS

YIELD - last 12 month dividends divided by closing price
cl Fi

58.37

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
ghted price for daily volume

ted price for daily volume
m day to day

The Deadline for Applications is
Friday, June 25th, 2010.

Weekly Vol. - Trading volume of the prior week
Change - Chang: EPS $ - A company's reported earnings per share for the last 12 mths
Daily Vol. - Number
DIV § - Dividends p:
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

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

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

NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100
THE TRIBUNE

FROM page 1B

inevitably depress the Bahami-
an private sector and economy
further, the Government’s fiscal
plans might halt the public sec-
tor’s uncontrolled and, some
would argue, unsustainable
annual expansion.

“In everything there’s poten-
tial good, and what it [the Bud-
get] might do is put a brake on
the size of government,” Mr
Wilson told this newspaper.

He recalled how, in 1992, the
first Ingraham government had
focused on two key pledges -
job creation and reducing the
size of government, so as not
to crowd out the creativity and
ingenuity of the Bahamian pri-
vate sector.

Questioning whether this
goal had been achieved, Mr
Wilson said: “Don’t forget, in
1992 it was ‘jobs, jobs, jobs’,
and to reduce the size of gov-
ernment so as to unleash the
full power of the private sec-
tor. They were his [Prime Min-
ister Hubert Ingraham’s] two
most repeated and sacred
promises to the country in 1992.

“We didn’t get to where we
are overnight. Maybe this Bud-
get might be an opportunity for
a new beginning to correct
some of the errors going on
from 1992, where the size of
government has been growing
at this exponential rate, even
though it was recognised in
1992 that what was happening
was not the right course.

“The Government said in
1992 it had a key goal. The key
goal was to reduce the size of
government. Eighteen years lat-
er, we should all ask the ques-
tion: Has that goal been met,
or are we on target to meet it?”

The businessman added: “If
you subscribe to the view that
our government is too big,
which was the view espoused
by the current political party in
1992, if it was too big then, what
about today? That’s the ques-
tion.”

Mr Wilson’s views corre-
spond to those of the Nassau
Institute think-tank and others,
who have argued that the
Bahamas has a public expendi-
ture problem at the root of its
persistent fiscal deficits and ris-
ing national debt, rather than
a revenue issue.

The 2010-2011 Budget focus-

MONDAY, JUNE 21, 2010, PAGE 5B
aS ee
Budget may ‘put brake on’ government

es almost exclusively on rev-
enue measures, seeking to
increase the Government’s
income by almost $200 million
year-over-year compared to the
2009-2010 fiscal year. The
Prime Minister told Tribune
Business he expected tax
increases, such as the rise in
hotel room tax from 6 per cent
to 10 per cent, to raise some
$100 million or 50 per cent of
this revenue increase.

Revenue

Indeed, Mr Ingraham’s post-
Budget presentation focused
almost exclusively on revenue,
comparing this nation’s 2008-
2009 government revenues as
a percentage of GDP, which
stood at 18 per cent, to the
higher yields generated by the
likes of Barbados, St Lucia, Sin-
gapore and Trinidad & Tobago.

Yet while the Government’s
projected recurrent revenues of
$1.492 billion for fiscal 2010-
2011 represent a rebound to
19.7 per cent of GDP, com-
pared to an estimated 17.5 per
cent of GDP in the current
year, the Bahamas will still run
a $62 million recurrent deficit.
The GFS deficit for the present
fiscal year is projected at 3 per
cent of GDP, even though

spending has been held con-
stant in nominal terms.

Meanwhile, Mr Wilson said
he would find it “very difficult
to argue against” those who
suggested that the Budget’s tax
increases on the private sector
would further depress the econ-
omy, and prolong recovery.

“All the theories I’ve ever
read, all the experts I’ve lis-
tened to, tell me a Budget like
this will have a depressing effect
on this economy,” he told Tri-
bune Business.

“All T can say is that whatev-
er the recovery estimate was
the day before the Budget was
announced, it [recovery] is
going to be further away than it
was that day.”

And he added: “Right now,
the country’s consumers are in
a foul mood, because today
they know their light bill is
going up, NIB payments are
going up, many civil servants
know income at best will be
flat, and for some it’s going
down.

“Many people employed in
these days must be asking
themselves whether they will
have a job in a few months.
Once people are in that mood,
it’s very difficult to make any
long-term capital investment
decisions.”

NOTICE

CHISWICK HOLDINGS LTD.
IBC NO. 140673 B

In Voluntary Liquidation

Notice is hereby given that the above-named Company
is in dissolution, commencing on the 18th day of June,
2010. Articles of dissolution have been duly registered by
the Registrar. The Liquidator is Kyrene Kelty of Nassau,

Bahamas. All persons

having claims

against the

above-named Company are required on or before the 18th
day of July, 2010 to send their names and addresses and
particulars of their debts or claims to the Liquidator of the
Company, or in default thereof they may be excluded from the
benefit of any distribution made before such debts are

proved.

Dated this 18th day of June, 2010

Kyrene Kelty
Liquidator



ie
———, ea
a eo Te

VACANCY

ARIA, he : mH ; At

A leading communications company has the requirement fora
Marketing & Sales Executive to lead these functions. This person will
be required to create an integrated strategy and realistic business
plans for all customer market seqments, products, pricing and sales
programs. Timely implementation of the plans is essential as the
objectives of new service launches, revenue and profitability are

demanding.

This person will be results focused and have proven achievements
including protecting existing revenues and growing new ones ina
communications company; training and organizing a multi-channel
sales and marketing team to deliver results on time and to budget;
innovation in services marketing, product quality and customer
value; and demonstrating that the marketing concept works at all
levels.

This appointment require a Masters degree qualification, plus a
minimum of 10 years’ experience In the international telecoms
industry including executive level decision making and awareness of
requiatory aspects. Experience of working in an overseas
environment with empathy to develop skills and local management
succession is also a requirement. This person will also have
extensive knowledge of the international communications market
and global expertise of other multi national communications
companies.

Resumes to be sent electronically to
rbadderleya@cablebahamas.com to arrive by Tuesday, June 22, 2010.

Cable Bahamas Ltd, Nassau Baha
Robinson Bd.at Marathon

re ge pe,
ae ee eye 4
Pe me at eter taeda

JOB OPPORTUNITY

Marketing Manager

The successful candidate must possess the following:

A creative thinker with a knack for advertising and a history of creating
bie ideas,

A proven track record of driving sales and significant organizational
impact.

Must be adaptable to a changing, fast-paced environment.

Able to deal with a va rieby at personalities and situations with energy
and enthusiasm.

Able to work ina culture/environment that promotes an entrepreneu-
rial spirit and a “let's get it done now" attitude.

Focus on possibilities rather than problems.

Strong customer orientation.

RESPONSIBILITIES:

Develop and execute effective local marketing plans that support
annual key initiatives.

Lead efforts to effectively plan, execute, measure and evaluate local
market activities.

Direct media planning and graphic design.

Establish and cultivate PR/media relationships.

Develop and Manage budgets.

Customer Relations and management of complaint process.

Build community poodwill and manage relahonships with influential
Organizations.

Serve as the bocal steward of the brand, ensuring all local marketing
activities are aligned with established brand standards.

REQUIREMENTS:

Bachelors degree in Communications, Marketing or a closely related
held or equivalent work experience.
Minimum tive years protessional related experience

COMPETITIVE SALARY & ATTRACTIVE BENEFIT

Send resumé to: marketinemanagerwantedi@email.com

Deadline for application is Wednesday, June 28th, 2010



KL. Hen. Hubert A. Ingraham

PROCLAMATION

WHEREAS, the Secunties Commission of The Bahamas is a quas governmental agency,
which exercises statulory powers under the Securities Legisaion (the Securities Indwsiry Art,
1995; Secunties Indusiry Resquiations, 2000; the Investment Funds Act 2003; the Investment
Funds Regulations, 2003 and the Financial and Corporate Service Providers Act, 2000};

AND WHEREAS, the Secunties Commission of The Bahamas was established to maintain
surveillance aver the securities markel so as to ensure thal orderly, fair and equitable dealings
prevail within the secior.and among indusiry professionals, and 0 creale and promote conditions
ho ensure the orderly growih and develooment of the capital markets;

AND WHEREAS, the Securities Commission of The Bahamas ig responsible for regulating the
Bahamian securiies industry, including market inlermedianes, secondary markels and
inwesinnant funds:

AND WHEREAS, in support of its objectives The Commission proposes fo set aside a week to
engage in aciviies which serve fo inform the public of the importance of its role as a securiles
regulator,

NOW, THEREFORE, |, Hubert A. Ingraham, Prime Minister of The Commonweath of The
Bahamas, do hereby proclaim the weak beginning Monday, 21" June, 2110 and ending Sunday,
27 June, 2010 as “SECURITIES COMMISSION WEEK™

IN WITNESS WHEREOF, | hava
hereunin sed my Hand and Seal

this 11 day ol shine, 2040

HUBERT A, GRAHAM
PRIME MINISTER =~

a



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 6B, MONDAY, JUNE 21, 2010

THE TRIBUNE



O% group fall ‘big bugaboo’ for hotels

FROM page 1B

every destination clamouring
for a share of it, every dollar
may make or break securing
the business,” the BHA execu-
tive told Tribune Business.
“We’re hoping the group
business side will show some
positive signs. There’s a signif-
icant interest in the Bahamas
as an option. There are a num-
ber of group negotiations in
play now at a higher level than
we’ve seen for a few years, but
we’re competing in a highly

competitive market for busi-
ness.

“We'll hopefully see some of
those groups translate into
increased business, and antici-
pate that if they can be finalised
in the coming months we will
see the fruits early next year,
with a stronger rebound later
in the year.”

Mr Comito’s comments back
those of George Markantonis,
Kerzner International
(Bahamas) managing director,
who last month said group busi-
ness levels for many Bahami-
an resorts were unlikely to

To Our Valued Customers:

The Tommy Hilfiger Store in the Mall at
Marathon and Fab Finds Gift Shop in the
Harbour Bay and Lyford Cay shopping

return to pre-Lehman Broth-
ers collapse levels until “late
2011”.

Increase

While Atlantis had seen a 35
per cent increase in its leisure
travel bookings for 2010 year-
to-date, the same did not apply
to its groups/conventions/meet-
ings business.

"We have not seen the same
upturn in groups and conven-
tions. That business remains
flat," Mr Markantonis said,
conceding that previous esti-
mates of an early 2011 recovery
in this market were unlikely to
hold true.

"I think we were probably
too optimistic as an industry,"
he added, emphasising that he
could not speak for the sector
as a whole. "If it's going to
come back, it will probably be
in the latter half of 2011. We
have a lot of tentative groups
for next year, people who have

not signed contracts. I'd feel a
lot better if we could get those
thousands of tentative room
nights signed.”

Mr Markantonis said many
meeting planners, who directed
where conventions business
went, were biding their time to
exploit the number of deals cur-
rently in the market.

Group bookings are critical
to Bahamian hotels because
they represent a big chunk of
business that is often booked
months/years in advance, thus
giving them a base around
which to structure and arrange
leisure bookings.

However, due to the credit
crunch and global recession,
budgets for overseas meet-
ings/conventions are among the
first to be cut by major corpo-
rations. In addition, there is still
much stigma attached, with
companies not wanting to be
seen to be treating executives to
a tropical paradise getaway
amid so much unemployment

and suffering, especially if they
received taxpayer funds from
a US government bailout.
Still, there have been some
glimmers of hope for the
Bahamas, with Ministry of
Tourism data released last
week showing that air arrivals
to the Bahamas were up 5.4 per
cent year-over-year for the 2010
first quarter, standing at 344,248
compared to 326,569 last year.

Period

For the same period, cruise
arrivals were up by 10.5 per
cent at 1.039 million, compared
to 939,541 last year, and for
March they were 17.3 per cent
up on March 2009 compara-
tives.

Overall, total visitor arrivals
to the Bahamas for the first
three months of 2010 stood at
1.383 million, some 9.2 per cent
ahead of 2009s 1.266 million.

“Tt bears out what we’re see-
ing for the first three quarters
of the year on occupancy levels,
and it’s showing some move-

ment in a positive direction,
which is a good sign,” Mr
Comito told Tribune Business
of the Ministry’s arrivals fig-
ures.

He acknowledged, though,
that the Bahamian hotel indus-
try’s performance was still some
way down on 2008 figures prior
to the Lehman Brothers col-
lapse, and said: “We’ve got a
little ways to go to catch up
with 2008, but we’re moving in
the right direction. We’re about
where we thought we would be.

“We’re capturing, in large
part due to the Companion Fly
Free programme, a good mar-
ket share of the leisure mar-
ket.”

Mr Comito said the “last
minute booking environment”
meant it was still difficult for
the hotel industry to predict
long-term business levels “with
any real degree of confidence,
but added that early indications
showed that for the next two
months there would “hopefully
be some growth over last year
on occupancy and arrivals”.

centres will be closed for

STAFF FUN DAY

on Wednesday 23" June 2010.

We apologize for any inconvenience. We
will reopen with normal hours as of
Thursday 24" June 2010. We thank you for
your understanding and continued support.

COOMAADNTETULL TH. OTHE BARU pees pe: COURT aida

IN THE SUPREME COURT Mir 12 ano TE qa)
iL



Common Lew atl Eqaig Divieion =|
| Poa, APL

= eed

IN THE MATTER of The (haiering Titkes Aict, TE
APD

IM THE BLATTER cf Al char pace parcel on lor of Lorad corepricing
ap area of 0105 pairs feet aie on Poo Ail Roel Seatk of Pow
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Deparment of Lands and harreve aa 408% HP.

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TN THE MATTER of Th: Potton of RDONICA FREDROCKA DAÂ¥TS
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aad Tereary-nighr Mlandinedithe (092.28) beet aa Che EAST bey lad the
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Phone, bah thee Dine ol heen, Buboore, and
The Gharsber of Lock & (Co, 08S Braun Racdea Bena, off Fahey Stace,

“Jana, Baharia.

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Chine oot a clidan eer peggnieed ba dee Pegon shall on on (bedooe the: ceperwaon of Thee
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wom afore: oc Best Glad chaeeaeriah.

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minoch cao

Dona ates 1 ay al lag, AD, SD

Neat A

LOSCKHART & 00.
#45 Been Merim Read
oft Sharkey Baepcd
Nutvan, Bubamas

Ananya foo tha Poritanes





NOTICE is hereby given that VINCENT ROBERTO
KNIGHT of ST. ANDREWS DR. #15, P.O.BOX-SS6311,
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 14" day of JUNE, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box
N-7147, Nassau, Bahamas.



LEGAL NOTICE

KENOVA HOLDINGS LTD.

International Business Companies Act
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given in accordance with Section 138 (4) of the
International Business Companies Act, (N° 45 of 2000), KENOVA
HOLDINGS LTD. is in dissolution. Michella Callender is the Lig-
uidator and can be contacted at La Toscana, Calle Palladium, Casa
24-E, Corregimiento de Juan Diaz, Panama City, Panama. All persons
having claims against the above-named company are required to send
their names, addresses and particulars of their debts or claims to the
Liquidator before July 16th, 2010.

a : fi
Michela Callender
Lispaidasar

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT. 2000
No. 45 of 2000

was)












DREAMS HOLDINGS LIMITED

Notice is hereby given that in accordance with Section
138 (8) of the International Business Companies Act,
(No. 45 of 2000), DREAMS HOLDINGS LIMITED.
has been completed, a Certificate of Dissolution has been
issued and the Company has therefore been struck off the
Registrar. The date of completion of the dissolution was
June 11th, 2010.

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LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4) of the
International Business Companies Act, (No. 45 of 2000), MATRIX
INVESTMENT FUND LIMITED is in dissolution. Mrs. Alrena
Moxey is in the Liquidator and can be contacted at Winterbotham
Place, Marlborough & Queen Streets, Nassau, New Providence, P.O.
Box N-3026, Bahamas.

All persons having claims against the above-named company are
required to send their names addresses and particulars of their debts

or claims to the liquidator before July 6th, 2010.

Alrena Moxey
Liquidator

LEGAL NOTICE

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)

In Voluntary Liquidation

Notice is hereby given that in accordance with Section 138 (4) of the
International Business Companies Act, (No. 45 of 2000),
LMA INVESTMENT FUND LTD. (IBC No. 157581 B) is in
dissolution. Mrs. Alrena Moxey is inthe Liquidator and can becontact-
ed at The Winterbotham Trust Company Limited, Marlborough
& Queen Streets, P.O. Box N-3026, Nassau, Bahamas. All persons
having claims against the above-named company are required to send
their names addresses and particulars of their debts or claims to the
liquidator before June 24th, 2010.

Alrena Moxey
Liquidator

POSITIONS AVAILABLE

Concierge for Office Building
Candidate must have excellent
customer service skills, and be
computer literate. Must have
experience in a customer service
related role. Candidate should
be well groomed, mature and
self-motivated.

Security Officer for
Office Building
Candidate must be mature, have a
minimum of two years experience,
possess a clean Police record, and
have excellent verbal and written
communication skills. Candidate
must be willing to work weekends
and extended hours and have own

transportation.

Interested applicants should
respond by sending their resume to:
DA# 87780, c/o

The Tribune,

P.O. Box N-.3027,

Nassau, Bahamas



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

By CHRISTOPHER
BODEEN
Associated Press Writer

BEIJING (AP) — Currency
markets will closely watch Chi-
nese exchange rates Monday to
see how far Beijing will allow
the yuan to rise after announc-
ing the end of its two-year-old
peg to the dollar.

A stronger yuan would make
Chinese exports more expen-
sive and bring relief to foreign
manufacturers that have been
struggling to compete. But Bei-
jing plans to disappoint them,
saying Sunday there will be no
dramatic rise.

Beijing has long refused to
allow the yuan to float and

denied accusations that it is
unfairly undervalued.

But the Communist leader-
ship finally acceded to foreign
pressure to increase the
exchange rate's flexibility on
Saturday, a week ahead of a G-
20 summit at which President
Hu Jintao was likely to have
been hammered by critics of
the currency policy.

China, however, is still steer-
ing a path to economic recov-
ery, and with workers at home
demanding wage hikes —
which would also increase the
price of exports — the central
bank sought to curb specula-
tion of a major rise in the value
of the yuan, also called the ren-
minbi.

PRICEWATERHOUSE(GoPERS

POSITIONS AVAILABLE FOR
SPA SENIOR ASSOCIATES

Job Description

"There is at present no basis
for major fluctuation or change
in the renminbi exchange rate,"
the People's Bank of China said
in a lengthy commentary Sun-
day on its decision a day earlier.

The statement implied that
China considers the current
exchange rate to be roughly
where it ought to be, and econ-
omists said they don't antici-
pate big swings in the yuan's
value.

Keeping it at a "reasonable,
balanced level" would con-
tribute to economic stability
and help restructure the Chi-
nese economy to put greater
emphasis on services and
domestic consumption instead
of exports, the statement said.

S

It said China will rely more
on a basket of currencies that
includes the US dollar to deter-
mine the exchange rate, rather
than the dollar alone.

China allowed the yuan to
rise by about 20 per cent begin-
ning in 2005, but halted that
two years ago to help Chinese
manufacturers weather the
global financial crisis.

Since then, the yuan's value
has been pegged to the dollar at
an exchange rate of roughly
6.83 to $1. The government sets
the rate each day before the
start of trading and retains pow-
erful tools to control its move-
ment.

Any sudden rise in the yuan
could ruin businesses already

MONDAY, JUNE 21, 2010, PAGE 7B
Markets to scrutinize China exchange rate

operating on razor-thin mar-
gins and cost job losses. It could
also drive down the value of
China's $2.4 trillion in foreign
exchange reserves.

Because of China's large
trade surpluses, the central
bank intervenes heavily in the
exchange market, buying up
excess foreign exchange earn-
ings to keep the yuan's value
from rising.

Although it mentioned few
specific steps and set no targets,
Saturday's announcement gen-
erally won praise overseas —
along with some criticism.

President Barack Obama
said the move would help pro-
tect the economic recovery,
while the European Commis-

sion said it would benefit "both
the Chinese economy and the
global economy."

But with China's economy
growing at double-digit rates,
boosted by four trillion yuan
($586 billion) in stimulus spend-
ing and record bank lending to
finance construction projects,
Beijing can afford to move
faster, some say.

"Just a day after there was
much hoopla about the Chinese
finally changing their policy,
they are already backing off,"
US Senator Charles Schumer, a
New York Democrat, said Sun-
day, adding that he plans to
move forward with a bill that
would punish Beijing for its cur-
rency policies.

BAHAMAS ELECTRICITY CORPORATION

VACANCY NOTICE

FINANCE CLERK II - BANK RECONCILIATION

PricewaterhouseCoopers has vacancies for qualified Senior Associates FINANCE DIVISION

within our Systems and Process Assurance (SPA) practice. As a member

of the SPA team, you will provide services related to controls around the A vacancy exists in the Corporation for a Finance Clerk II

financial reporting process, including business process and information Bank Reconciliation, in the Finance Division.

technol t controls. ere Sas 8 is :
eennotosy management conor Responsibilities of the position include, but are not limited to the following:

Requirements . Preparing bank reconciliation for assigned bank accounts;

Preparing journal entries for accounting adjustments and banking
transactions (e.g., transfers between bank accounts, bank charges, re
turned checks);

¢ Proven experience in identifying, evaluating and testing information
technology and or business process controls, having worked in

the accountancy profession for a minimum of three (3) years. ; ; oo, ; .
Entering cash receipts postings in journals for proper allocation within

¢ A strong academic record and has a professional accountancy the general ledger:

qualification and/or the CISA qualification.

Providing source data with regards to employee and other returned

¢ Sound business awareness, excellent communication skills and
checks;

personal initiative.
* The ability to work as part of a team, as well as independently. Acting as liaison between Customer Services departments to prepare
¢ The ability to build and manage internal and external relationships. listings of returned cheques; and

= Reon erent understanding oF Sectcliy and-conmel Tor sprme:pr te Maintaining procedures filing system for such items as: canceled checks,

following technologies and/or enterprise applications: Unix, Windows bank advice, memos and statements.

Server 2003, Windows Server 2008, OS/400, SQL Server, Oracle
database, SAP, Peoplesoft, and JD Edwards.

; . . Job requirements include:
* Working knowledge of information technology general controls

° A minimum of an Associate’s Degree in Accounting/Business or

concepts in the areas of systems development, change management,
equivalent in General Accounting/Fundamentals;

computer operations and access to programs and data.
* Working knowledge of controls and controls standards (Sarbanes
Oxley, COSO, and COBIT) and testing strategies.

A minimum of 2-3 year experience;

Thorough working knowledge of Check Reconciliation module within
the HTE environment;
The positions offer challenging work in the financial services industry
Computer skills and the use of related software (e.g., Cash Management
Software) and computerized spreadsheet tools to prepare reconciliation
and bank transfer schedules; and

and other areas of industry and commerce. The salary scale, which

recognizes different levels of experience and skill, is designed to reward

high performance. In addition, the Firm provides excellent medical

Verbal and written communication skills to interact effectively with staff

insurance and provident fund benefits. (
and the general public.

Please submit an application letter with your Curriculum Vitae to:

Interested persons should apply by completing and returning an Application
Form to: The Manager-Human Resources & Training Department, Bahamas
Electricity Corporation, Blue Hill & Tucker, P.O. Box N-7509 Nassau Bahamas on

or before: Friday, June 25, 2010.

Human Resources Partner

PricewaterhouseCoopers
P.O. Box N-3910
Nassau, The Bahamas

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ij INTERNATIONAL A member of Colonial Group International Ltd: Insurance, Health, Pensions, Life



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




MONDAY, JUNE 21, 2010







By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net



NO ONE wants to face the possi-
bility of unemployment, but at some
point we have to stop kidding our-
selves. I am willing to bet that the
employees at ZNS TV themselves
are desperate for ZNS to survive
primarily because they want to guar-
antee their future employment —
safeguard their ability to pay school
fees and mortgages — not because
they feel ZNS is something worth
fighting for.

Most of the employees at ZNS
have probably been frustrated into
bitterness over years of stagnation or
have accepted the fact that their
commitment to ZNS comes at the
expense of their physical and mental
health. Otherwise, they are new and
possibly oblivious of the rude awak-
ening in store for them.

In its present state, ZNS is a top-
heavy, gas-guzzling drain on the pub-
lic purse, important primarily for the
purpose of feeding our sense of
national pride. Iam wondering: Are
we so starved of a national identity
that ZNS is indispensable to who we
are?

Air Jamaica lost out on that
debate several months ago when the
government caved in to good sense
and sold the airline. Bahamasair may
eventually follow suit, with private
airlines now proving they can out-
compete Bahamas Air.

I am all for national pride. The
idea of a commercially competitive
national station sounds great, but
does it really work and is it sustain-
able? If ZNS is anything to judge by
the answer is obvious. A public
broadcasting system (PBS) sounds
good, which is where the govern-
ment says it wants to go, but unless it
works in reality and is not just a fig-
ment of someone’s imagination, then
at some point we need to muster the
courage to say, it’s time to call it
quits. And the question must be
asked: Can the same people who
have carried ZNS this far, carry it
into the future?

For much of its existence, ZNS
was the only player in the market.
Fortunately, today, there is an entire
Bahamian film and television indus-
try, complete with trained profes-
sionals and private enterprises. The
government needs to take a serious
look at whether it should still be in
the business of television. At the
very least, it needs to clearly redefine
the role of the government owned
television station and prove its rele-
vancy.

With almost a 50-year head start,
ZNS is still in a struggling position to
keep pace with private television sta-
tions that have emerged over the
past 10 years. At the rate of growth
in private TV, ZNS is on a collision
course with obsolescence.

It gives me no pleasure to say
that, but it is a fair conclusion drawn
from an objective analysis of the
actual television market place. In
1966 an anonymous government
official was quoted in a special Tri-



INSIGHT

The stories behind the news

INS: what does
the future hold’?



bune survey as saying, “If a poll were
taken, it would show that given a
choice, the average man on the street
would prefer to see American tele-
vision.”

This was at a time when TV
reception was considered “spotty”,
black and white was the order of the
day, and Bahamian television was a
mere proposition — its birth was
rushed in 1977 to accommodate an
election. Thirty-three years later, the
situation for ZNS TV has not
changed. There are more than 500
international television channels
available to Bahamians by way of
cable or satellite and a sufficient per-
centage of them are better than
ZNS.

In fact, if a Florida television sta-
tion decided to get into the business
of producing Bahamian news, ZNS
would probably lose some of its
viewers. This is not because ZNS
news reporters are not talented or
are not competent in presenting the
news; neither is it because Bahami-
ans lack national pride; this is



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because television viewers are gen-
erally more inclined to go for better
visual quality.

The digital era is decades away
from ZNS; it is still using analogue
equipment. This might not sound
like much, but look at it this way: If
you are dreaming of ZNS looking
like CNN, it is physically impossi-
ble by the very nature of the equip-
ment they use. With the govern-
ment’s recent budget cut, the dream
of modernization just slipped fur-
ther away, because new equipment
will inevitably be shelved to save
more jobs.

The outdated equipment at ZNS
is matched, in some instances, by its
outdated employees. The average
age of a ZNS employee is said to be
in the early 40s. Those who have not
been independently engaged in the
industry’s evolution, or participated
in professional development, are
likely to be out of touch with digital
advancements, much less the con-
verged media environment that now
exists.

No one should feel disillusioned.
The government knew from day one
that ZNS would not be financially
viable. It commissioned a study in
the 1970s to determine the feasibili-
ty of establishing a television station
in the Bahamian market. A team of
Bahamians, including Calsey John-
son, who was to become the first
general manager, travelled the world
looking at television models.
According to Mr Johnson, the con-
clusion of the study was: “In a small
market like the Bahamas the station
would not sustain itself; it would
need a government subsidy to get
on air and remain on air. From day
one we knew that would be a prob-
lem.”

If the government is going to have
to subsidise ZNS for the rest of its
life, I think it’s fair to ask that the
subsidies should work for the people
who want to create programmes that
market research indicates Bahamian
people want to watch. Let the subsi-
dies go towards making ZNS’ cur-
rent production facilities more acces-





sible to Bahamian producers and
film makers; towards making access
to production crews more afford-
able. Let the subsidies go toward
producing good television.

T also think it is fair to expect that
if the government is going to have to
subsidise ZNS for the rest of its life,
then ZNS should provide a service
that is indispensable. As it currently
exists, it simply does not.

With its abundance of religious
programming, the church commu-
nity might disagree, but perhaps it
could construct a good argument for
the profitability of a cable channel
called, Bible TV Bahamas. Church
people pay to play, so it is com-
pletely understandable for ZNS to
design its programming schedule
around paying customers, but it
leaves a lot to be desired for its over-
all programming schedule.

Few could argue that ZNS radio
is not an essential service, profitable
at that, but few could prove the same
applies to ZNS TV. If ZNS shut
down its TV broadcast station, most
people would simply have an emo-
tional reaction. They would long for
their daily routine of watching the 7
o’clock news. That is until they got
over it and switched to News Break
on Cable 12 at 7.30pm, which many
viewers already do.

There is very little by way of news
and current affairs programming that
is produced by ZNS that ZNS
reporters could not produce at other
private stations. In fact, they could
do so with more independence and
more resources.

Executives of the Bahamas Broad-
casting Corporation (BCB) got a
kick out of the outcry the other day,
when an episode of the current
affairs programme, Press Pass, was
cut from the roster. Observers pre-
sumed it was blatant censorship,
because the recorded show had
views that were sharply critical of
the BCB. Executives said the out-
cry was a sign that people actually
watch ZNS. But I am not so sure
they should be patting themselves
on the back.

The people most upset about the
failure to air the show were probably
the people who were actually on the
show. Given the fact that they are
media personalities themselves, they
would have had a readily available
public platform to express the per-
ceived public outcry. In fairness to
the commentators, the incident is
indicative of the Corporation’s his-
tory of censorship and politicization.
From the time ZNS became a mere
proposition, this was a concern.
Throughout its entire lifetime, this
has been its curse. Politicians them-
selves admit this is in ZNS’s DNA.

“Politicians have used ZNS as a
conduit for their information. Politi-
cians are concerned about one
aspect, the News. They aren’t con-
cerned about programming, because
most of the politicians only want to
see themselves on TV. They are not
interested in the other components
needed for national development,”

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PAGE 2C, MONDAY, JUNE 21, 2010

ZNS: what does the future hold?

FROM page one

said Obie Wilchcombe, oppo-
sition spokesman on business.

I have good friends who
work at ZNS, who are going
to have my head for this arti-
cle, but for all the good that is
going on at ZNS today by tal-
ented, hard working journal-
ists, technicians and support
staff, ZNS should be the
undisputed leader in televi-
sion, and there should be no
need to justify the govern-
ment’s spending.

So what is the point of a
televisions station if a handful
of people are watching it, and
no one is making money from
it?

Unfortunately, the employ-
ees who are trying to trans-
form ZNS are building on a
compromised foundation. The
root problems are not of their
making and are largely

beyond their control. As hard
as it may be to swallow, I
believe the only sure fix is to
tear down the structure and
rebuild. Perhaps there is a sil-
ver lining in the $4 million
budget cut.

At this point, to restore my
faith in ZNS; to inspire me to
fight for its survival, someone
has to articulate a vision for
the national station that
makes sense for the twenty-
first century and beyond.
Short of that, I am prepared
for ZNS to die a natural
death.

This is not to say I do not
understand the importance of
a Bahamian film and televi-
sion industry. The Bahamas,
as with the entire developing
world, has suffered greatly
under the weight of Western

media imperialism. Our cul-
tural development has been
greatly stifled by the long-
standing influence of Ameri-
can TV in the Bahamas.
African people across the
globe lack power in their own
self definition, because they
lack media control.

The Broadcasting Act says
it is the duty of the BCB to
“maintain broadcasting and
televising services as a means
of information, education and
entertainment.”

The purpose Bahamian
television goes deeper than
this. Bahamian television is
essential for constructing our
own view of the world; telling
Bahamian stories and defin-
ing ourselves and the world
through our own eyes.

The programmes we pro-

duce reflect the way we see
the world.

A government owned tele-
vision station is only one vehi-
cle by which this objective is
achieved. And I could very
well envision a National Insti-
tute of Film and Television
with a $4 million budget serv-
ing this function more effec-
tively.

“Tbelieve as ZNS grows in
full maturity it could be a
viable entity.

“But do we have any sit-
coms on ZNS? No. Do we
have any sustainable local
programming? No. We have
up to this day not been able to
do so; to fill the hours and
hours of airtime with local
programming. There are no
documentaries, no features,
no sitcoms, no movies. There
is still nothing being done,”
said Mr Wilchombe.

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role to play. (It) has always
been a vehicle for national
development. We have many
things to do to build this
country. We still do not have
a sustained number of televi-
sion documentaries, on the
people, on the environment
that is unique to the Bahamas.
We don’t have a production
unit producing sitcoms,
movies, or any programming
that allows for an absolute
total fulfilment of local tele-
vision needs,” he said.

Mr Wilchcombe, probably
unwittingly, placed the bur-
den of an entire industry on
the shoulders of one under-
funded government agency
with a questionable history.
When Lincoln Bain, the co-
host of Controversy TV,
a talk show aired on Channel
12, announced the launch of a
new Bahamian television
channel, VTV, earlier this
year, he said some of the very
same things with respect to
the new channel.

“Our focus is to be the
home of Bahamian sitcoms,
drama series, soap operas,
game shows, reality TV
shows, and investigative
reporting with or without the
Freedom of Information
Act," he said.

Bahamians needed to start
looking beyond ZNS and cre-
ate a vision for the Bahamian
film and television industry
for the twenty-first century
and beyond.

The role of ZNS in all of
that should be clearly defined
and its market specifically
stated.

It should not be competing
as a commercial entity, and if
it operates as a public broad-
casting station, it still needs a
mandate that is relevant and
essential.

That mandate needs to be
driven by a programming
vision for the future, guided
by market research. Person-
alities and programmes drive
television viewership.

Without local programming
that people want to consume,
neither a national television
entity, nor a Bahamian film
and television industry, will
be able to generate the critical
mass of viewers or the level of
profitability needed to stay
relevant and to survive.

Bahamian television does
not mean programmes that
are all about our national
identity, as it has been in the
past. It does not mean pro-
grammes that feature our
nation builders, the national
achievers, and all things that
make us proud to be Bahami-
an. Bahamian television
means good Bahamian pro-
duced programmes that peo-
ple want to consume.

Artificially creating a sense
of community by pushing
information on the public that
it does not want to consume
in that format does not work.
People usually love to feed
their egos, but in the case of
television, the public would
much rather choose from one
of the over 500-stations on
cable or satellite to be edu-
cated and entertained.

THE TRIBUNE

Our old vision of television
programming has run its
course.

My vision is for the gov-
ernment to use the $4 million
allocated to ZNS to build the
Bahamian film and television
industry, by supporting
Bahamians interested in pro-
ducing quality local pro-
grammes, and to create incen-
tives for the continued growth
of private television enter-
prises.

In material terms, ZNS
could become more of a
financier or production house,
where independent produc-
ers, with an understanding of
modern technology and mod-
ern tastes would have access
to the facilities and the
resources of ZNS to produce
programmes that could be
aired on ZNS’s broadcast
channel or sold to private sta-
tions.

The Parliamentary Chan-
nel could evolve to feature
political news and other polit-
ical programming from all the
islands in addition to show-
ing sessions on the House and
the Senate. This would satisfy
the desire for the politicians to
be seen on TV, and serve an
important information dis-
semination function.

A possible small in-house
team of journalists and pro-
ducers at ZNS would focus
on three to four core pro-
grammes, in different pro-
gramming categories, so that
during at least three or four
programming time slots a sig-
nature ZNS programme
would be aired.

These programmes would
have a clearly defined audi-
ence, and a clearly defined
objective. Private stations
could be mandated as a
requirement of their broad-
cast license to air at least one
ZNS produced programme
during a designated national
broadcast hour.

Perhaps I am giving the
private stations too much
credit; perhaps I am underes-
timating the level of profes-
sional interest amongst
Bahamians in the film and
television sector, but perhaps
not.

The bottom line is this: We
need to take on a greater
vision for the film and televi-
sion industry in the Bahamas.
The survival of ZNS is less
important than the actual
work that needs to be done
to achieve the industry’s
objectives. ZNS does not have
to shoulder the responsibili-
ty on its own, and it does not
have to be the entity to fulfil
the mandate.

Going forward, there could
be a role for a national televi-
sion body, but it is not the cur-
rent role ZNS is trying to
play. What is clear is that ZNS
has to radically, not incre-
mentally, change its vision,
structure and way of operat-
ing. Fortunately for us, the
industry has matured to a
point where we can now
speak of the mantle being
passed from ZNS to a new
era of television in the
Bahamas.









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THE TRIBUNE

MONDAY, JUNE 21, 2010, PAGE 3C

INSIGHT

TORONTO

CANADA thinks it can
teach the world a thing or
two about dodging financial
meltdowns, according to
Associated Press.

The 20 world leaders at
an economic summit in
Toronto next weekend will
find themselves in a coun-
try that has avoided a bank-
ing crisis where others have
floundered, and whose econ-
omy grew at a 6.1 percent
annual rate in the first three
months of this year. The
housing market is hot and
three-quarters of the 400,000
jobs lost during the reces-
sion have been recovered.

World leaders have
noticed: President Barack
Obama says the U.S. should
take note of Canada's bank-
ing system, and Britain's
Treasury chief is looking to
emulate the Ottawa way on
cutting deficits.

The land of a thousand
stereotypes — from Moun-
ties and ice hockey to lan-
guage wars and lousy weath-
er — is feeling entitled to
do a bit of crowing as it
hosts the G-20 summit of
wealthy and developing
nations.

"We should be proud of
the performance of our
financial system during the
crisis,” said Finance Minister
Jim Flaherty in an interview
with The Associated Press.

He recalled visiting Chi-
na in 2007 and hearing sug-
gestions "that the Canadian
banks were perhaps boring
and too risk-adverse. And
when I was there two weeks
ago some of my same coun-
terparts were saying to me,
"You have a very solid, sta-
ble banking system in Cana-
da,’ and emphasizing that.
There wasn't anything about
being sufficiently risk-ori-
ented."

The banks are stable
because, in part, they're
more regulated. As the U.S.
and Europe loosened regu-

Canada’s economy suddenly envy of the world

IN THIS PHOTO taken June 7, 2010, workers install fences around the Toronto Metro Convention Cen-
tre that will host the G20 summit later this month, in Toronto. Canada thinks it can teach the world a
thing or two about dodging financial meltdowns. (AP)



lations on their financial
industries over the last 15
years, Canada refused to do
so. The banks also aren't as
leveraged as their U.S. or
European peers.

There was no mortgage
meltdown or subprime crisis
in Canada. Banks don't
package mortgages and sell
them to the private market,
so they need to be sure their
borrowers can pay back the
loans.

In Canada's concentrated
banking system, five major
banks dominate the market
and regulators know each of
the top bank executives per-
sonally.

"Our banks were just bet-
ter managed and we had
better regulation,” says for-
mer Prime Minister Paul

Martin, the man credited
with killing off a massive
government deficit in the
1990s when he was finance
minister, leading to 12
straight years of budget sur-
pluses.

"Iwas absolutely amazed
at senior bankers in the
United States and Europe
who didn't know the extent
of the problem or they did-
n't know that people in
some far-flung division were
doing these kinds of things.
It's just beyond belief," he
told the AP.

The Conservative Party
government of Stephen
Harper that took over from
Martin's Liberals in 2006
broadly stuck to his prede-

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THE TRIBUNE

GN 1071

SUPREME COURT

COMMON WE 40TH OF THE BARAMAS
THE SUPREME COMIRT
PROBATE BIVISHON

ho 20 PR ns prt

Wherus HHA WAWAE MLE of Mare Faria Reo of Ube Eastern District
of the Island of Mew Providers one of the Lalands of dhe Caneeiaccallh af The Babameae
bas make apolicalion te ihe Supreme Cioert of Uhe Gatames. for eters of adinasictiraaem of the
Beal ao! Posonal Esiatk of WILLLAM MILLER a.k.a. WILLIE MULLER aka
WOLLIART CAMPBELL, WIILLEOR late of Persis Rogers Home im the Wester Disines al

ihe Island of New Providence, one of the Islands of the Commonwealth of Qhe Bubenias.

ceceatecd.

Bogie: i hereby citer (hed gaach applicainoes vill be head) by the coil Cord al the

eqpiration of 4 dass fee the date heres

Nicoue

(foc) Registrar

COMMONWEALTH OF THE BAR AMLAS
THE SUPREME COURT
PROBATE DPW ISI

Mo 201 PROV 1 petisas

Wheres LCA LYNETTE RUSSELL of Mo. Lo Angel Read. Eastvrend
Subdiodsion in Ue Faster Dearest of the Island of Kew Prevkkonee di of the Islands of tee
Commamnwalth ot The Bahomas has mace application bo the Supreme Cseert of The Blatuarras.
for letters of aimiitcadion of the Reel and Personal Esta: of LIST FE. BSS ELL oko
LINDA ELIZABETH RUSSELL aka. LINDA RUSSELL bie of Ne. 1 Agel Mond
Easteae) Subdivision lia the Easter District of the Jelaind of Saew Providence, one of ihe
flan: of tee to ommonveealeh of The Bahamas. deceased.

Slolice is hereby given dhe such applications will be heal be the said Cour at Be

expiration of U4 daves from the dane beereced.

(for) Regiesirar

OMNIS WEALTH CH THE BALAMAS
THE SUPREME COURT
PROBATE DY LN

Bio SP Oper HST

Whereas IDELL RUTH SMITH of Sea Beach Estes in thee Ginnd of Mew
Providence one of the Ishads af the Commonwealth of Thee Tatoos has. made epplocetiom eo
the Supreme Court of The Bahamas, for betes of administrator of the Peal and Peranal Esteve
of MELSON PL SRT late of Sea Beach Estas fn dhe lala of New Providence, one of
the Islands. of the Commoanveeali of The Bebaoied, deceorcel.

Nanice is hereby given that such applications will be Beard by che eaid Court at the

expiration of §4 days from the dabe hereof

(for) Regisior

COMMONWEALTH OF THE BANAMAS
THE SUPREME COURT
PROBATE DIVISION

Where (LASSIETIA 2 MCINTOSH, of the City of Freeport on the Islnd of
Gran’ Bahama, one of ihe lends of dhe Commenwealth of The Aokomes, the Adionmey by
Dead of Power of for Theado Mcintosh, the lawful widow of the decemeed bas made
Spliscation to the Sepecme: Court of The Bahamas, for Lemers of Adenia of ihe Ren! andl
Penonal awaits of SEAN DELANO MCINTOSH, late of #5 Sandecebe Cree im the (City af
Freeport cn the Isiond of (romd Bahama, ome of the Islands of The Comeeniacalth of The
Bealeaitas

Natio: is here given thal sich agplieitiions will be heard by the sxid Court at the

expiration of 2) days from the detec heres
-



MONDAY, JUNE 21, 2010, PAGE 5C
INSIGHT



Canada’s

economy

is suddenly the
envy of the world

FROM page 3C

cessor's approach, though he cut taxes and,
when recession struck, pumped stimulus
money into the economy, with the result
that Canada again has a large deficit.

But it is recovering from the recession
faster than others, and although its deficit is
currently at a record high, the International
Monetary Fund expects Canada to be the
only one of the seven major industrialized
democracies to return to surplus by 2015.

This month Canada became the first
among them to raise interest rates since the
global financial crisis began.

George Osborne, Britain's Treasury chief,
has vowed to follow Canada's example on
deficit reduction.

"They brought together the best brains
both inside and outside government to car-
ry out a fundamental reassessment of the
role of the state," Osborne said in a speech.

It's a remarkable turnaround from 1993,
when the Liberals took office facing a $30
billion deficit. Moody's downgraded
Canada's credit rating twice. About 36 per-
cent of the government's revenue went
toward servicing debt.

"Our situation was dire. Canada was ina
lot of trouble at that point,” Martin said.
"If we were going to preserve our health
care and our education system we had to
do it."

As finance minister, he slashed spending.
A weak currency and a booming U.S. econ-
omy also helped Martin balance the books.
In the 1998 budget the government esti-
mated that about 55 percent of the deficit
reduction came from economic growth and
35 percent from spending cuts.

"The rest of the world certainly thinks
we're the model to follow," said Martin,
who was prime minister from 2003 to 2006.
"T've been asked by a lot of countries as to
how to go about it."

am.)







IN THIS MAY 2, 2009 FILE PHOTO, former prime
minister Paul Martin casts his ballot for the new
leader and national party executives at the Liberal
Leadership Convention in Vancouver, British Colum-
bia. Canada thinks it can teach the world a thing or
two about dodging financial meltdowns. (AP)

Don Drummond, Martin's budget chief
at the time, says the U.S. and Europe won't
have it that easy, because the economic cli-
mate was better in the late 1990s than it is
now, with large trade gains and falling inter-
est rates.

"There's a lot to learn from Canada but
their starting conditions are worse,” he said.
"Even though we were on the precipice of a
crisis we weren't in as bad a shape as many
of them are."

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

SENIOR MANAGER, ACCOUNTS
FINANCE DIVISION

A vacancy exists in the Corporation for a Senior Manager, Accounts in the Finance

Division.

The Senior Manager - Accounts oversees the functions of the Accounting, Budget &
Management Reports and Finance Department to ensure the efficient and effective

delivery of accounting services.

Responsibilities of the position include, but are not limited to, the following:

Compilation of the corporate budget;

Coordination the op annual budget and project budgets;

Preparation of month

y management statements;

Revision of the General Ledger Control Accounts reconciliation;
Preparation of performance reports for division ,department and sections;
Overseeing of the job costing system and sundry receivables

(capital contributions, rechargeable);

Overseeing the accounting aspect of the Abaco and Eleuthera offices;
Liaison with internal and external audits;

Preparation and submission of monthly financial statements to the Chief
Financial Officer for the Board of Directors;

Provision of regular reports to the Chief Financial Officer as required;
Preparation of the business plan for the department;

Establishing and maintaining written procedures for the department;
Ensuring the filing and assessing of the BEC’s insurance claims;
Overseeing the Cash Flow Management;

Ensuring timely posting of invoices for payment;

Overseeing the Payroll Office and ensuring relevant deductions form

employee’s salaries;

Performing reconciliations of Trade/Sundry Accounts Payable;
Monitoring and reviewing all other Liability Accounts;
Ensuring timely disbursement of all Loans interest and principle

repayments,

Performing reconciliations for Long-term Debt Schedule;
Calculating exchange gains and losses on long-term loans;
Monitoring of daily transfer of funds to various bank accounts to
ensure adequate availability of funds for payment to vendors;
Managing the status of local and foreign vendors;

Liaising with and granting requests as required by Internal and

External Auditors;

Managing subordinate staff and administering discipline.

Conducting performance appraisals; and

Maintaining an effective system of two-way communication with staff,
manage and promotes sound based and harmonious industrial relations.

Job requirements include:

A minimum of a Bachelors degree with a certification in Accounting

ACCA/CPA or equivalent qua

ifications;

A minimum of 8+ years of experience in a financial environment or in a

similar management position;

Sound knowledge of Generally Accepted Accounting Practices;
Sound knowledge of Financial Accounting Software and spreadsheet

applications;

ound knowledge of project management and related job costing

systems;

Ability to analyze financial reports;

Ability to trouble shoot accounting processes as they relate to financial
software and the system of internal control;

Good judgment and sound reasoning ability;

Ability to communicate effectively both orally and in writing; and

Good time management skills.

Interested persons should apply by completing and_ returning an Application Form to:
The Manager-Human Resources & Training Department, Bahamas Electricity
Corporation, Blue Hill & Tucker, P. O. Box N-7509 Nassau Bahamas on or before:



Friday, June 25, 2010.

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE MONDAY, JUNE 21, 2010, PAGE 7C



INSIGHT



Crews are drilling |
deeper into Gulf of |
Mexico to halt leak



ON THE GULF OF BP spokespeople rushed to 8,000 feet (2,400 meters) to
MEXICO defend Hayward, who has _ go.
drawn biting criticism as the The other well is deeper,

DRILLING crews are public face of BP's halting but drilling superintendent
grinding ever deeper to build efforts to stop the spill. BP is | Wendell Guidry says it's any-
the relief wells that are the responsible for the cleanup one's guess which team will
best hope of stopping the because it was leasing the rig intersect the damaged well

massive oil leak at the bot- when it blew up. first.

tom of the Gulf of Mexico, "He's spending a few hours "The main thing is, you
according to Associated Press. with his family ata weekend," _ know, we try to keep the guys

The crew of Transocean said BP spokesman Robert focused," Guidry said.

Ltd.'s Development Driller I Wine. "I'm sure that every- "We're just treating this
was on track to pour cement one would understand that." like we treat any other well
starting early Sunday to firm The public relations gaffe that we drill."

up a section of metal casing — yet another in a series by Once a relief well intersects
lining one of two relief wells. | Hayward and the company— with the damaged well, BP

BP and government offi- | ended what could have beena plans to shoot heavy drilling
cials say the wells are the best good week for BP. About 50 mud down the well bore, then
option for cutting off the miles (80 kilometers) off plug it with cement.
gusher that has spilled as Louisiana's coast, a newly Meanwhile, Democratic
much as 125 million gallons expanded containment sys- Sens. Barbara Boxer of Cali-
(473 million liters) into the | temis capturing or incinerat- fornia and Bill Nelson of
Gulf since the Transocean ing more than 1 million gal- Florida said on CBS televi-
drilling rig Deepwater Hori- —_lons (3.8 million liters) of oil — sion's "Face the Nation" Sun-
zon exploded April 20, killing daily, the first time it has day that they have asked

11 workers. approached its peak capaci- President Barack Obama to
Back on land, coastal resi- ty, according to the Coast give the Navy a bigger role in
dents were infuriated by news Guard. the efforts to clean up the

that BP PLC CEO Tony Hay- BP hopes that by late June — spill, which are now being
ward was taking a break from it will keep nearly 90 percent overseen by the Coast
overseeing efforts tostop the of the flow from the broken Guard.
leak to watch his 52-foot (16- pipe from hitting the ocean. But asked on "Fox News
meter) yacht, "Bob," compete It will likely be August Sunday" if the Pentagon
in a race around the Isle of before crews finish drilling the could be doing more to help
Wight off southern England. relief wells. stop the leak or keep oil from
"Man, that ain't right. None On the Development washing up on shore, Defense
of us can even go out fishing, Driller I, one of two rigs Secretary Robert Gates said
and he’s at the yacht races," working on the effort, BP no.
said Bobby Pitre, 33, who wellsite leader Mickey Fruge "We have offered whatever
runs a tattoo shop in Larose, said the well has reached a capabilities we have," he said.



Louisiana. "I wish we could depth of roughly 5,000 feet = "We don't have the kinds of | OIL FLOATS on the surface of the water around the Transocean Development Driller II, which is drilling
get a day off from the oil, (1,500 meters) below the equipment or particular a relief well, at the site of the Deepwater Horizon oil spill in the Gulf of Mexico. (AP)

too." seafloor. There's still another expertise."





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(BAHAMAS) LIMITED. INSURANCE BROKERS & AGENTS



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