Citation
The Tribune

Material Information

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

Subjects

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

Notes

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

Record Information

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

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Full Text
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CLOUDY,

198 FSTORMS

Volume: 106 No.214



SOF
SOF

Quiet war on:
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waters
SaaS TC a



Police believe
incidents are
connected

POLICE yesterday had a
major breakthrough in the
recent spate of break-ins at
government institutions.

Four men were in custody
last night assisting police
with their investigations into
the incidents, Supt Stephen
Dean, director of the
National Crime Prevention
Office, said.

Speaking with The Tri-
bune, Supt Dean said that
police are investigating the
possibility that this “crew”
of men were responsible for
at least three of the break-
ins — Immigration, Passport
Office and Magistrate’s
Court No. 9. He confirmed
that police believe that these
incidents are connected.

However, he shot down
rumours circulating in the
capital last week that the
break-ins were the result of
a political conspiracy.

Police said they would
release more information
about these latest develop-

























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ments at a press conference
this morning.

Supt Dean said the media
and the public would be giv-
en an exact break-down of
how the events occurred.

Over the past several
weeks thieves have raided
several government build-
ings, prompting calls for
increased security at gov-
ernment establishments.
Last Friday, thieves raided
the Department of Immi-
gration on Hawkins Hill.
Magistrate’s Court No. 9
was burgled last Saturday
morning when thieves cut
security bars in the court
window to ransack an office
and make an unsuccessful
attempt to steal a safe. Bur-
glars also raided Supreme
Court Senior Justice Jon
Isaacs’ office last month,
stealing personal items from
his chambers and scrawling
the message “The PLP must

SEE page 15

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BAHAMAS EDITION

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MONDAY, AUGUST 9, 2010

rour helt aver
Hjovt preax-t

THE young stars of Standing Ovation, this summer's hot musical
movie for tweens and teenagers, performed a special live show in Nas-
sau yesterday, raising $10,000 for the Ranfurly Home for Children.

The performers, who took to the stage in the British Colonial
Hilton’s Governor’s Ballroom, are now challenging 13 persons or
organisations to each match that sum so that a total of $130,000 can
be raised for the home which presently houses 33 boys and girls.

Standing Ovation, which is currently playing at Galleria Cinemas,





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Wo ae ao

_ PLP women urged to
back Grant-Bethel

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

AS A new day dawns in the
Department of Public Prose-
cutions — Jamaican attorney
Vinette Graham-Allen takes
up her position as director of
that department today — PLP
women have been urged to
show greater solidarity and ral-
ly behind embattled former



Deputy Director of Public SUPPORT
Prosecutions Cheryl Grant- FROM MP:
Bethel. Cheryl

Attorney General John Grant-Bethel
Delaney said the new director

is eager to begin reviewing policies, which
debunks rumours that she was reconsidering
the post because of the present conflict in that

department with Mrs Grant-Bethell who expect-

SEE page 15

TEM E TCM M ALLL

is the story of two groups of students wing for a $1 million prize.

"We have heard so much about the Ranfurly Home for Children and
what it has meant over the years to those young people who had no
other place to call home," said Diane Kirman, producer of Kenil-
worth Films, who helped organise the show.

"Local partnerships are important wherever you go," she said,
"but they are so great in a place like the Bahamas where there is an
incredible amount of talent at every turn."

Softball star | New policies
Tyrone Wood | for outstanding |
dies suddenly | student loans

RELATIVES and friends of }
Tyrone Wood were left in }
shock by his sudden death Sun- }

day morning.

Mr Wood, 51, who was }
described by relatives as a very }
“caring” man reportedly died }
in hospital of a heart attack :
around 6.30am on Sunday. The }
father of six worked with the }
Bahamas Investment Authori- ;
ty in the Office of the Prime }

Minister.

“He was playing softball on
Saturday — old timers league. }
He took sick there. He went }

SEE page 11



By NATARIO MCKENZIE
Tribune Staff Reporter

nmckenzie@tribunemedia.net

WHILE the government :
has recouped some of the tens }
of millions of dollars owed in }
defaulted student loans, a }
“considerable amount” is still :
outstanding and new policies }
will now be implemented to }
recover the money, according }
Minister }

to Education
Desmond Bannister.

Mr Bannister who spoke
with The Tribune yesterday }

SEE page 15

All Major Credit Cards Accepted

Weather system Complaints

could become = continue over

tropical storm — disruption to
METEOROLOGISTS are } cellular services

keeping an eye on a low pres- }
sure system in the Atlantic }
which has a 70 per cent chance }
of developing into this sea- }
son’s latest tropical storm }

within the next 36 hours.

However, weather experts }
said they expect a high pres- }
sure ridge will prevent the }
storm system from heading for }

the Bahamas.

At 5pm yesterday, the low i
pressure area was located just }
over 1,000 miles east-north-

east of the Leeward Islands.

SEE page 11



NASSAU AND BAHAMA ISLANDS? LEADING NEWSPAPER



COMPLAINTS of disrup-
tions in some cellular services
continued over the weekend
in the wake of a systems-wide
blackout of communication
services.

The Bahamas Telecommu-
nications Company issued a
statement on Saturday after-
noon indicating that its ser-
vices had been restored and
that the company was carrying
out a verification exercise.

The statement read: “Upon

SEE page 11



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PAGE 2, MONDAY, AUGUST 9, 2010

THE TRIBUNE



i 7 |
Abaco power cuts ‘coming to an end

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

POWER cuts driving
tourists out of Abaco for
months are said to be com-
ing to an end as the Bahamas
Electricity Corporation
brought in three additional
generators last week.

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cuts throughout Abaco and
the cays have driven hot and
angry visitors away vowing
never to return.

Bahama Beach Club
developer Craig Roberts
turned away wedding parties
booked at the Treasure Cay
resort during May, June and
July as he warned visitors
their condos would not have
electricity.

“We lost well over
$100,000 just in cancella-
tions,” Mr Roberts said.

“And another $100,000 in
refunds.”

The public relations night-
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power cuts also drove Mr
Roberts to hand out free
cocktails, Kaliks, and steak
dinners, as well as flights to
Nassau and elsewhere so
guests could enjoy a vacation
with electricity.

Marinas at The Jib Room

SEE page 12

Newspaper reporter is
injured in traffic accident

A SENIOR Nassau
Guardian reporter is in stable
condition in hospital after a har-
rowing traffic accident this
weekend.

Juan McCartney, broadcast
and print reporter, was head-
ing north on Prospect Ridge
early Saturday morning when
his SUV hit a tree and flipped
over.

Mr McCartney was taken to
Doctors Hospital by emergency
medical services where he was
rushed into surgery to stop the
bleeding from his injuries.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 5

LOCAL NEWS



Pharmacy owners group sign on to drug plan

AFTER months of negotia-
tions, 12 pharmacies from the
Pharmacy Owners special interest
group signed contracts with the
National Insurance Board (NIB)
on Friday to become providers
for the National Prescription
Drug Plan.

The group made the decision
to join after the NIB agreed to
provide each of the pharmacies
with a one-time $5,000 interest
free advance to assist with initial
inventory and start up costs and
to increase the mark-up on the
third band of drugs costing more
than $25 from 25 per cent to 30
per cent.

Speaking on behalf of the

ie

Pharmacy Owners Group and the
Bahamas Pharmaceutical Asso-
ciation (BPA) Laura Pratt -Charl-
ton, owner of the Prescription
Parlour Pharmacy, said she was
happy to be at the point where
she could say that they are all on
board with the National Pre-
scription Drug Plan.

“We are satisfied that we have
negotiated in good faith and the
Plan will go on. It will be success-
ful and the key thing was that it
was beneficial to all. We know
that the Plan will benefit the pub-
lic in terms of reducing the cost of
their medical care, but we needed
to be sure that it was not to the
detriment of the private pharma-

cies and at this point we are very
satisfied with the negotiations and
the final contract that we are all
here to sign today,” Mrs Pratt-
Charlton said.

Algernon Cargill, director of
NIB, called the contract signing a
“very successful” event.

He emphasised that the part-
nership between the private phar-
macies and NIB will enable Phase
I beneficiaries (Bahamian citizens
over 65, NIB pensioners, NIB
invalids and children) to obtain
prescription medications free-of-
charge from participating phar-
macies, hospital pharmacies and
clinics in the public health system
throughout the entire Bahamas.

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THE TRIBUNE



LOCAL NEWS

MONDAY, AUGUST 9, 2010, PAGE 7



Pageant hopefuls work
out ahead of China trip

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - Miss Grand
Bahama Tempestt Stubbs will
go to China next month to com-
pete in the Miss Friendship
International Beauty pageant.

Tempestt unveiled her
wardrobe at a cocktail recep-
tion at the Treasure Bay Casino
on Saturday.

Miss Global Bahamas
Valdeana Bain also unveiled
her wardrobe as she prepares to
compete next month in the
Miss Global International
Pageant in Jamaica.

The Friendship Internation-
al pageant is slated for Sep-
tember 7-28. The Miss Global
International pageant takes
place September 22-28, in Mon-
tego Bay.

Beauty queens from 30
countries around the world will
be competing for the Global
International crown.

Glenn Davis, organiser of

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The reigning Miss Global
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Organisers said they are ask-
ing Grand Bahamians to sup-
port the event and the young
ladies as they represent the
Bahamas internationally.

“We are proud of our beau-








ty queens and have every con-
fidence that they will do well
in these competitions,” said Mr
Davis.

Mr Davis said the young
women are working hard
preparing for the pageants. He
said competing is not easy and
takes a lot of dedication and
commitment.

He thanked the YMCA gym
for providing free training ses-
sions for the beauty queens.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 11



LOCAL NEWS

FROM page one

restoration of our network yes-
terday (Friday) at 2.45pm and
due to the scope of the outage,
BTC’s technical teams are cur-
rently conducting verification
exercises to ensure the optimal
quality of service our customers
expect.

“As a part of the exercise,
we are working with our Inter-
national carriers to ensure that
voice and data for our roamers
are back to normal. BTC is sat-
isfied that the cause for this net-
work outage was isolated and
has been addressed.”

The release further stated,
“As promised, we have begun
the process to credit the
accounts of our prepaid cus-
tomers, which is expected to be
completed later today (Satur-
day).” Many prepaid cellular
customers expressed apprecia-
tion for the credit on the com-
pany’s Facebook page, howev-
er many also complained that
they had not received the pur-
ported compensation and were

Cellular phones

still experiencing problems with
their cellular service. Accord-
ing to reports from some of
BTC’s prepaid cellular cus-
tomers, credit was issued in
amounts of $5, $10 and in some
cases even $50.

The company has not indi-
cated how it intends to com-
pensate its postpaid customers
and those who experienced dis-
ruptions in their land line ser-
vices.

BTC’s release stated that the
company apologized for all
inconveniences that the outage
had caused, and assured the
public that “it is taking steps to
ensure that the likelihood of a
recurrence is minimised.”

The company advised that
customers experiencing any
challenges with any of its ser-
vices to contact the BTC’s call
centre at 225-5282.

Calls to BTC’s acting Presi-
dent and CEO Kirk Griffin
were not returned up to press

Weather system could become tropical storm

FROM page one

It had become better-defined over the weekend, and according
to the US National Hurricane Centre (NHC) in Miami, conditions
were expected to become increasingly favourable for a tropical
depression to form over the next few days.

The forecast office in Nassau said the system is currently mov-
ing in a west north-west direction and is expected to follow a sim-
ilar path of Tropical Storm Colin, which yesterday weakened to a
tropical depression as it passed west of Bermuda.

While this developing system is not expected to threaten the
Bahamas, local meteorologists said they are nevertheless moni-
toring it closely in the event conditions should suddenly change and

cause a shift in trajectory.

The forecast office in Nassau is also still watching a weak non-
tropical low pressure area centred a couple hundred miles east-

southeast of Jacksonville, Florida.

The system was producing disorganised showers and thunder-
storms over the Florida peninsula and adjacent waters, the NHC

said.

Meteorologists said there was only a 10 per cent chance of the
system becoming a tropical cyclone within the next 36 hours.

Yesterday morning, islands in the northern Bahamas, particu-
larly Bimini and Grand Bahama, were under warning for severe
thunderstorms. This warning was discontinued later in the day.

However, the Meteorological office said there was a possibili-
ty that the warning could have been reissued yesterday evening.

FROM page one

home and took sick again,’
Bobby Pinder a cousin of the
deceased told The Tribune. Mr
Wood had reportedly com-
plained of chest pains, but had
dismissed them as gas.

Mr Pinder, who describes Mr
Wood as a “big brother,” said,
“Tt’s really a shock to everybody.
He was the type of person who
never said no. He was a caring

>

Tyrone Wood

individual. He cared for every-
one he came into contact with.”
According to Mr Pinder, four
weeks ago, Mr Wood who was
also a reserve police Sergeant,
was graduated from Omega
College with a Bachelor’s
degree in Business Administra-

tion.
¢ SEE STORY PAGE 13.

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time yesterday.

The outage on Friday affect-
ed the company’s system
across the board in The
Bahamas, including its prepaid
cellular, SMS platform, land-
line, and its international

roaming services. Mr Griffin
had previously stated that the
system failed at 2am Friday,
when BTC’s Digital Access
Cross Connect System at their
Main Technical centre on
Poinciana Drive experienced

some difficulties.

He had noted that there was
no act of sabotage involved and
that it was purely a technical
failure.

Just about all of the prepaid
customers were affected,

300,000 in total, and 85,000
landline customers. Reports
indicated that the company saw
some signs of restoration with
their landline, SMS and inter-
national roaming services at
2.45pm Friday.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 15



LOCAL NEWS



FROM page one

was unable to confirm how
much money had been recov-
ered by the government so far,
and based on the current state
of affairs, he could not say
when the loan programme
would be re-implemented.
The government decided to
suspend the Educational Guar-
anteed Loan Programme last
August with almost $70 million
in student loans still owed to
the government. At that time
it was announced that the gov-
ernment had settled some $30.6
million in defaulted loans with
an additional $37.4 million still
in default with The Bank of
The Bahamas, representing a
default rate of 61 per cent.
“There is still a considerable
amount that can be recouped. I
have been approached by a
number of persons who have
said to me that they are having
problems paying. We under-
stand that things are tough and
we are willing to work with
them,” Mr Bannister said. He
noted, however, that there are
also persons who have returned
from school abroad, are gain-

New policies for outstanding student loans



NEW POLICIES:
Desmond Bannister

fully employed and have not
sought to repay their student
loans. According to Mr Ban-
nister, a committee is formu-
lating new policies to deal with
the issue. He noted that one of
the major difficulties in the
process of recouping defaulted

loan payments is getting in con-
tact with those persons who
owe the government.

“We have to find a way to
follow up with them in a coun-
try where we don’t have a tax-
ation system. We have had to
find ways to contact them. We
have to do a lot of follow-ups
and much more,” Mr Bannis-
ter said. He noted that one of
the underlying issues is that per-
sons simply need to be “respon-
sible” and meet their financial
obligations.

Mr Bannister also stated that
“seven million was allocated in
the current budget for scholar-
ships with no obligation to pay.
We feel that the amount is
appropriate.” He noted that the
scholarships are awarded based
on merit. Mr Bannister said
that the $7 million is the largest
amount ever awarded for schol-
arships and far exceeds the
amount given out in student
loans each year.

The Educational Guaranteed
Loan Programme was devel-
oped after the Education Guar-

PLP women urged to back Grant-Bethel

FROM page one

ed to be appointed Director of Public Prosecu-
tions. Mrs Graham-Allen, formerly Director of
Public Prosecutions in Bermuda, is expected to
start her term with a series of orientation meet-
ings to familiarize herself with colleagues and
staff.

Mrs Graham-Allen’s appointment to the post
by the Governor General on the advice of the
Judicial and Legal Services Commission sparked
much controversy within the department with
Mrs Grant-Bethel claiming that she was unlaw-
fully overlooked for the position of Director of
Public Prosecutions.

Recent public dialogue includes a denial by the
Attorney General’s office of a claim that although
Mrs Grant-Bethel has been transferred to the
office of Deputy Law Reform and Revision Com-
missioner she is still operating as the Director of
Public Prosecutions. According to the Attorney
General’s office this claim is not true.

Four held
over govt
break-ins

FROM page one

win the next election, all
FNM must die” across his
door with a drawing of a
gun.

Initial reports that up to
200 case files had disap-
peared were later denied by
court officials.

The court raids followed
a burglary at the Passport
Office on Thompson Boule-
vard on July 8 when thieves
stole a safe containing
$7,000 and got away ina
government car.

The robbers were dis-
guised from head to toe,
wearing masks, jackets and
gloves.

According to sources the
four men are expected to
appear in court today to
answer to charges in con-
nection with the break-ins
at the Passport and Immi-
gration offices and Magis-
trate’s Court No. 9. It is
understood they also will be
questioned about a break-
in at another government
department. However, it is
understood that the
Supreme Court break-in is
being investigated as a sep-
arate matter.

BUY 2 LARGE, CHEESE PIZZAS

According to MP for Fox Hill Fred Mitchell,
PLP women should make public their support of
Mrs Grant-Bethel, not only in her position as
the widow of a decorated PLP, but as a female
professional in the public policy sector.

He said Bahamian women have become the
“backbone” of religious and civic institutions in
the country, but must not limit their progress to
only a “supporting role.”

Speaking to new PLP officers at an induction
ceremony in Fox Hill yesterday, the MP empha-
sized the need for women to become “central to
the political process.”

In addition to greater solidarity on matters of
health care, education and domestic issues, Mr
Mitchell also advised greater attention should
be placed on the fate of little boys in the country.

He said: “Women, mainly, run the house-
holds, and we need to figure out together what we
need to do about this issue. Because what is
going to happen is there will be a disconnect
between women and their male partners, due to
a lack of education and socialization.”

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approved institutions. Students
and their co-borrowers were
allowed to borrow up to
$20,000 a year for educational
pursuits. The Act also allowed

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PAGE 16, MONDAY, AUGUST 9, 2010

THE TRIBUNE



Man in hospital after stabbing

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - A man is in hospital following a stabbing inci-
dent in the Garden Villas area at the weekend, Grand Bahama }

Police reported.

The incident occurred around 11.30pm on Friday when police :
were summoned to the area after receiving reports that a man had }

been badly beaten and was lying on the ground.

ASP Loretta Mackey said officers went to the area to investi-

gate and found a black man bleeding on the ground.

She said the victim was taken by ambulance to the Rand

Memorial Hospital, where he is detained in stable condition.
Investigations are continuing into the matter.

Teens raped in Grand Bahama

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT Police are
appealing to the public to
assist them in their investiga-
tion into the rape of two
teenage girls.

According to reports the
girls were walking on a track
road near East Atlantic Dri-
ve during the early mornings
hours of August 5 when they
were approached from behind
by two masked men.

The culprits, armed with
knives, forced the girls into a

building and raped them. One :
girl was able to escape and}
report the incident to the }

police.

suspects.

One is of light brown com- }
plexion and the other is dark. }
Press liaison officer ASP }
Loretta Mackey is appealing }
to anyone with information }
that can assist the police with }

3107/8, 352-9774/5 or 911.

Officers went to the loca- }
tion and found the second girl.
The victims were taken to hos- }
pital and examined by doctors. }

Police are searching for the }

BAHAMAS ELECTRICITY CORPORATION

NOW

6 EROS

<| 6

=

ue & BILLING CHANGES

Effective July 1st, 2010 The Bahamas Electricity Corporation
(BEC) has introduced new rates for all consumers in New
Providence and the Family Islands. Billings for allconsumers
during this transition period will be carried out as follows:

Bills for the service period May 16th to June 15th with the billing date
July 3rd were mailed out on or around July 10th and were due for
payment on July 23rd at the old rates;



ae

GROUND LEVEL: The acrobatics of Mr Elastic Man thrilled the crowd at the Jamaican Inde-
re ea : pendence celebrations held at Cable Beach at the weekend. The Caribbean country celebrated
their investigations to call 350- ;

: it’s 48th year of Independence yesterday.

FROM page two

and Boat Harbour in Marsh Harbour have
sat empty during what should be the busiest
time of the year, as boats can’t power up at the
docks, and visitors are said to have been
departing in droves.

“People leaving are angry,” Mr Roberts
said.

“They have said they will never come back,
they are going to say to people they know
don’t go to Treasure Cay, and we rely on word
of mouth referrals.”

Marsh Harbour jeweller Percival Pinder
added: “This is 1,000 times worse than it has
ever been.

“Tourists are leaving, they say they are not
coming back, and they are going to tell their
friends how bad it has been. BEC is driving
them away and it’s destroying tourism.

“It’s destroying people’s businesses,
destroying the economy of Abaco and what
BEC has done will take a long time to get
back.”

A Marsh Harbour resident started keeping
a record of the long hours without power in
the Pelican Shores area in May as the power
was out for 28 hours over five days at the end
of that month, more than 93 hours over 24
days in June, and for more than 107 hours

DRESSED FOR SUCCESS

é Major/Tribune staff

=
2
Lu

Braneka Bassett unveiled her wardrobe for
the upcoming Miss Universe Pageant on
Saturday. Braneka, 20, will be one of the
many contestants from around the world
who will be vying for the crown at the Miss
Universe Pageant to be held at the Man-
dalay Bay Events Centre in Las Vegas on
August 23. Last year, the international
pageant was hosted at Atlantis, Paradise
Island, and put the beauty of the Bahama
islands in the spotlight.



Abaco power cuts

over 20 days in July.

Hope Town in Elbow Cay, Treasure Cay
and other areas of Marsh Harbour have
recorded similar periods without power.

Around 250 Abaconians protested in front
of BEC offices two weeks ago and Prime Min-
ister Hubert Ingraham showed he heard their
call when he criticised BEC on a visit to Marsh
Harbour in July.

The Marsh Harbour plant, which is not
capable of supplying Abaco with all of the
power it needs, has now been boosted by
around 4.2MW as two rented generators and
a mobile generator arrived last week. BEC
chairman Michael Moss said this will allow
Abaco to have a consistent power supply until
the new plant in Wilson City is up and running.

Mr Moss maintains BEC had expected the
new Wilson City power plant to be up and
running by April or May, and therefore the
Marsh Harbour plant did not receive the main-
tenance attention it needed.

A Marsh Harbour woman said: “I believe
this may be the end of our power woes, but it’s
August now and our tourists have already
gone back; it’s really hurt our economy.

“For our tourism it’s too little too late."

Bills for the service period June 15th to June 30th were estimated with
a billing date of July 15th at the old rates. The bills for this abbreviated
period are due for payment on August 6th;

The new rate comes into effect for the service period commencing
July ist, 2010. Meter readings for this service period will take place
at the end of July, and bills will be sent out in mid-August. Payment for
this period will become due on September 6th, 2010.

ns

LET US UPGRADE

Commercial accounts that were billed at the end of June at the old rates
will receive their next bill at the end of July at the new rates.

The new rates as of July 1st, 2010 will be as follows:

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RESIDENTIAL

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201-800 units per month

Remaining units

Minimum monthly charge

All units per month

10.95 cents per unit
11.95 cents per unit
14.95 cents per unit
$5.00

COMMERCIAL

Minimum monthly charge

15.00 cents per unit
$10.00

GENERAL SERVICE

UNIT CHARGE

MONTHLY BILLS

Demand charge per month
0-900,000 units per month
Remaining units per month
Minimum monthly charge

KVA CHARGE
$11.36 per KVA
8.70 cents per unit
6.20 cents per unit
$ 568.00

TEMPORARY SUPPLIES

16.38 cents per unit $20.00 connection fee $10.00 per month Meter Rental

(variable per unit to include total cost of fuel)
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WEDNESDAY,

THE TRIBUNE

uSInesSsS

O,C:1.O 8 ER Joel

2008

—
BREITLING



| SECTION B ¢ business@tribunemedia.net

Direct credit for all
employers imminent

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

irect credit for

employers is immi-

nent, the general

manager of the

Automated Clearing
House told Tribune Business yes-
terday, saying the system has been
“tested and re-tested” and is ready
for the seven clearing banks when
they have completed their prepara-
tions.

Brian Smith said the clearing
banks are making certain they have
all their “ducks in a row” before giv-
ing the final nod to the Automated
Clearing House (ACH) for direct
deposits to be available to business-
es.

This service will give employers
the ability to electronically deposit
their payrolls directly into employ-
ees’ bank accounts regardless of
which financial institution they use.

“It’s been tested and retested,”
said Mr Smith.

“We are waiting for the go-ahead
from all the clearing banks. Testing

has been done and so far it is run-
ning smoothly.”

This change in payment process
will mean a significant decrease in
the use of paper for large employers
such as government, which issues
thousands of paper cheques.

Four large employers were assist-
ing in testing the direct deposit sys-
tem that will allow employers to pay
their employees without those phys-
ical cheques, no matter what bank
manages their account.

Mr Smith said on test runs, banks
have been able to receive transac-
tions and post them as long as the
correct bank account numbers are
provided to the employer’s bank.

According to him, the process
requires employers to provide their
financial firms with the account num-
bers of their employees, after which
the ACH receives the routing infor-
mation for each employee in order
for funds to be transferred to the
receiver's bank.

It is not clear as yet whether the
clearing banks will require employ-
ers to hold a checking or savings
account in order to receive payments
electronically.



SYSTEM READY: Brian Smith.

According to him, the most impor-
tant part of the process is to have

General manager Brian
Smith says Automated
Clearing House ‘waiting
for the go-ahead from all
the clearing banks’

the account number, or routing
information correct in order for the
transaction to go through without a
hitch.

While direct credit seems to be
only weeks away now, Mr Smith said
direct debit could still be a few more
months away for account holders.

According to him, direct credit
will allow bank customers to transfer
money from account to account on
the Internet and could usher in
greater use of Internet bill payment

systems.

However, he said direct credit is
far more complicated and requires
the institution to bolster its legal
position, as nothing like this has
been done in the Bahamas before.

Mr Smith said each financial insti-
tution is at a different state of readi-
ness for Internet banking to occur,
but “we would like that to come on
stream as quickly as possible.”

“Hopefully there will be more big
news later on in the year,” he said.

Chiropractic centre first of its kind in the west

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

RELIEF has finally come
to Western New Providence
residents needing convenient
chiropractor services, with the

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

WESTERN New Provi-
dence is fast becoming a self-
sustaining mecca with
planned shopping centres and
communities. One of the
newest communities, Serenity,
opened its gates to prospec-
tive buyers recently, touting
“affordable luxury real
estate”.

John Clarke, Sales and
Marketing director for Devel-
oper Kings Realty, said Seren-
ity’s soft opening attracted a
mass of interest in the new
subdivision.

Serenity is a private resi-
dential development near
Albany and its principals
promise interested buyers a
perfect opportunity for an
affordable real estate invest-
ment.

According to the develop-
ers, each model home is
designed specifically to cap-
ture the essence of island liv-
ing and honours the spirit and
style of traditional Bahamian
architecture.

“Its characteristics will
include traditional white
columns, verandah railings,
pastel walls and lovely decks
and porches, all the elements
to enjoy sunsets and relaxed,
balmy evenings with friends
and family,” said a recent
press release from Kings
Realty. “Finding a home at
Serenity will enhance your
lifestyle.”

The development will
include a club house, gated
entries, adult and children’s
pools, tennis and basketball
courts, numerous parks, recre-
ation and fitness centre, nurs-
eries, a library and 24-hour
security.

“Serenity provides you the
opportunity to be part of the
exciting transformation
underway in the west, an
opportunity you cannot afford
to miss,” the release contin-
ued.

opening of A Better Back
Chiropractic Centre.
Principal of the firm, Dr
Jacqueline Lightbourn, said
her business is the first of its
kind in the West and added
that despite setbacks due to
the economy, it opens today

New Providence Develop-
ment Company is attempting
to “masterplan” the western
area of the island in a way
that was “sensitive” to envi-
ronmental, transportation,
proper planning, community
and business needs. "We
struggle to bring quality plan-
ning to our lands," Mr Dug-
gan said.

With AML _~ Foods’
Solomon’s Fresh Market,
modeled on the US-based
Whole Foods chain, already
secured as the anchor tenant
in a Town Centre.

T. Rhys Duggan, New
Providence Development
Company president and chief
executive, told Tribune Busi-
ness recently that the Town
Centre’s 64,000 square foot
space was split 50/50 between
office and retail. Professionals
such as doctors, lawyers and
accountants had already
expressed interest in leasing
the office space.

Describing New Providence
Development Company as
the largest private landown-
er in New Providence, with
some 2,300-2,400 acres of
undeveloped land in the west
of the island, Mr Duggan said
holdings represented “one of
the last opportunities on this
island to provide housing for
Bahamians that is more
affordable.”

More than 3,000 lots were
in development in western
New Providence, Mr Duggan
added, many of those in real
estate projects being carried
out by Bahamians. He gave
as examples of this the Lyford
Hills development, owned by
Tennyson Wells and his
Bahamian investor group, and
Serenity.

Lots in western New Prov-
idence were being sold at
price points ranging from
$70,000 to $170,000, and Mr
Duggan said: “Land is such a
diminishing commodity that
we are trying to pay a lot of
attention to how we develop
the 2,400 acres we have left.”

for business.

According to Dr Light-
bourn, she is hopeful that the
economy will soon rebound
and that the business, which
she financed out-of-pocket,
will get a quick jump-start.

She said now was an excel-
lent time to begin her busi-
ness, as the perfect location
presented to her became
available.

And though she was pro-
gressive in promoting the
business — putting herself
into the 2010 phone book
months before opening — she
was still not quite certain the
business would come to

fruition.

However, the two-storey
building through Eaton
Avenue just off West Bay
Street, she said turned out to
be the perfect location for her
business after months of
searching.

When it receives its first
customers this week, A Better
Back will be performing chi-
ropractic adjustments, soft tis-
sue and myofacial release,
physical therapy: electrical
muscle stimulation and hot
and cold treatments.

Dr Lightbourn practised for
five years with another firm
before deciding to go out on

her own to open a centre
where it seemed to be needed
— in western New Provi-
dence.

“Six other businesses are
mostly central,” she said.

“Tm the only one out
West.”

According to her, she
received her Doctorate in
Chiropractic and Bachelor’s
in Life Science from Logan
Chiropractic College just out-
side of St. Louis, Missouri.

Last Friday she held a
grand opening and ribbon cut-
ting ceremony for A Better
Back at the Cable Beach loca-
tion.

BREITLING

TER a ee se Ee

Say cag a gat 8

onal angina: Br
aut

WWW BREITLING, com

| 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.







PAGE 2B, MONDAY, AUGUST 9, 2010

THE TRIBUNE



=
Hawaii company aims to harvest oil from algae

KAILUA-KONA, Hawaii
(AP) — A Big Island compa-
ny aims to harvest oil from
algae on a commercial scale
as an alternative to drilling
for petroleum.

"Through this, we can pro-
vide a solution to a lot of the
world's problems,” said
Gabriel de Scheemaker, CEO
of Cellana, a joint-venture
between Royal Dutch Shell
and HR BioPetroleum.

Cellana has been testing
how to get the most oil from
algae at the lowest cost since
it was founded in 2007.

To grow algae, researchers
put a small amount of algae in
seawater and expose it to the
sun, some nutrients and car-
bon dioxide.

The dense algae growth is
moved to a larger growing
container, and then open
ponds. The oil-heavy algae
sinks to the bottom of the
ponds, and researchers
remove water and extract oil
from the algae.

This process could be done
on a larger scale to create bio-
fuel, but it would be expen-
sive.

"A lot of the work is reduc-
ing the cost," said Cellana
CEO Gabriel de Scheemaker.

Cellana researchers are try-
ing smarter designs to reduce
the expense. They're also
attempting to increase their
yields, or the amount of algae
they're able to get per square



BRIGHT IDEA: Sea water is pumped into algae ponds where it is circulated with paddlewheels to encourage algae growth at a Cellana research
facility in Kailua-Kona, Hawaii. The Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for
petroleum.

(AP Photo)

research.
The company may also be
able to get revenue from a

meter per day, to cut costs.
The project is attracting sig-
nificant financial support. The

US Department of Energy
recently awarded Cellana $9
million to continue its

byproduct of the process, as
the protein and carbohydrates
left after oil is extracted may

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be turned into fish meal or
other animal feed.

The company plans to test
different algae strains to see
which would provide the best
oil for biofuel.

The algae currently being
grown on the site is all native
to Hawaii, said Cellana oper-
ations manager Avery
Kramer, but the company
may bring in other algae
strains with agriculture
department approval.

The joint venture was
formed after Shell saw a
research article HR BioPe-
troleum's chief science offi-
cer published about the
potential of obtaining oil from
algae, Kramer said.

HR BioPetroleum offers
expertise growing algae to the
joint venture while Shell
brings experience extracting
oil.

Cellana’s pilot facility at the
Natural Energy Laboratory
in Kailua-Kona now employs
60 people, half of whom are
from Hawaii.

West Hawaii, with abun-
dant sunlight, consistent
weather and a reputation as a
major algae farming hub, was
a logical place for testing
algae-growing and harvesting
techniques, de Scheemaker
said.

The company takes its
name from the genus to which
opihi, a small limpet native to
Hawaii, belongs.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 3B



Little relief seen for
state and local layoffs

By JEANNINE AVERSA
AP Economics Writer

WASHINGTON (AP) —
An injection of $26 billion in
federal aid won't be enough
to save the jobs of more than a
half million people who work
for state and local govern-
ments or for companies that
do business with them.

Economists say state and
local budget gaps are so vast
that up to 30,000 public jobs
will be cut each month at least
through year's end. And pri-
vate companies that contract
with states and localities are
likely to cut even more deeply.

All told, 600,000 to 700,000
jobs will likely vanish over the
next 12 months at states, local-
ities, private contractors and
other businesses that depend
on government business,
according to the Center on
Budget and Policy Priorities, a
Washington think tank.

The July unemployment
report, released Friday,
showed state and local gov-
ernments cut 48,000 jobs last
month — the most in a year.

State and local governments
already have shed 169,000 jobs
this year. And since their peak
in 2008, state and local pay-
rolls have shrunk by 316,000;
that figure does not include
private sector jobs tied to gov-
ernment spending.

Federal Reserve Chairman
Ben Bernanke warned last
week that cuts in state and
local spending and jobs were
helping to slow the economic
recovery. And two-thirds of
economists who responded to
the latest quarterly AP Econ-
omy Survey said they thought
states’ budget crises posed a
significant or severe threat to
the economy.

When states and localities
slash services and jobs, so do
companies that contract with
those governments to build
school buildings or repair
bridges. And the cutbacks rip-
ple through the national econ-
omy, causing individuals to
spend less, too. Full-time state

and local government work-
ers earn an average of $82,800
in wages and benefits annual-
ly, according to Labour
Department data.

The drop in state and local
government spending in the
first three months of this year
shaved about half a percent-
age point off national eco-
nomic activity.

The cuts stem from shrink-
ing state income and tax rev-
enue resulting from the reces-
sion. Total state revenue fell
11 per cent from fiscal year
2008, when the recession
began, to fiscal 2010, the
National Association of State
Budget Officers has estimated.

In Colorado Springs, the
city has turned off thousands
of streetlights to save $1.2 mil-
lion a year, The Gazette news-
paper of Colorado Springs
reported. In Pittsburgh, the
transit authority unveiled a
plan last month to reduce ser-
vice and at least 500 of its
2,700 jobs, according to the
Pittsburgh Post-Gazette.

An expected infusion of
federal aid will help blunt the
damage. The Senate last week
approved a $26 billion pack-
age of aid to states in hopes of
saving the jobs of teachers and
other public workers.
Approval by the House is

expected this week.

"Without the money, I
would have to say the worst
of the layoffs would be yet to
come,” says Brian Sigritz,
director of state fiscal studies
at the National Association of
State Budget Officers. "It's
definitely a help.”

But even with the aid, states
face a collective gap of $62.3
billion in the 2011 budget
year, which started July 1 for
most states. An additional
$53.4 billion shortfall is
expected in the 2012 fiscal
year, Sigritz says.

Unlike the federal govern-
ment, every state but Vermont
requires a balanced budget.
That's why the pace of both
service cuts and layoffs is
expected to persist. The cuts
are occurring even while the
struggling economy has forced
more people to turn to states
for health care and other
social services.

The just-ended 2010 budget
year "presented the most dif-
ficult challenge for states’
financial management since
the Great Depression,” the
budget officers’ association
says. States’ spending and rev-
enue aren't likely to return to
pre-recession levels until fiscal
year 2012 or later, the group
says.

( C2} ' AE COLLEGE OF THE BAHAMAS

Sa

Visdr oor webaie of wench eda be

NOTICE

The College of The Bahamas applicants
for Pall 2000 may collect letters on the

status of their
Tuesday,

August 11th,

College of The

applications between
Aucust TOth and Wednesday,
2010 from the Office of
Admissions, Portia smith Building,
Bahamas.

The

Oakes Field

Campus, between the hours of 9:00a.m.,

and 5:00p.m.



Do You Have Cancer?

Is There A History Of Cancer In Your Family?

Do You Want To Learn How To Avoid
This Deadly Disease?

Sidle-Swisecland
Are you the best closer in The
Bahamas?

If so, then we have a position for you.

BUT...you must motivate_a_sales_team, enjoy talking to people,
be a good listener and most important have _a_positive attitude.

Little Switzerland isa company with 54 years experience in luxury retailing.
We offer our customers the most prestigious lines in the industry, including
Breitling, Omega, TAG Heuer, John Hardy, Roberto Coin and others.

We have an immediate opening for the position of Sales Manager in
our Bay Street, Nassau location with an attractive and competitive

compensation plan.
Qualifications include:

Extensive Watch and Jewelry retail floor management experience
Proven track record of closing sales.

Qutgoing personality with excellent people skills

Ability to work in a team and contribute to the success of the store.

Proven management skills in retail stores.
Trustworthy, dependable & willing to work flexible hours.

Responsibilities include:

Motivate the Sales Consultants with daily goals.

Utilize all tools, including Private Label Credit Card, to drive sales in a
Duty Free environment.

Conduct on the floor and classroom training programs focused on
product

knowledge, consultative selling and operational standards.
Coach sales consultants to maximize their potential.

Drive sales to exceed goals.

Maximize customer shopping experience
Work in a team and contribute to the success of the store.

Only the BEST need apply.
If you have the ability, focus and drive to succeed forward your resume/CV or call:

William Carey, Senior Store Manager and/or Franck Saragossi, Director of

Operations
Email:wearey@nxpco.com

and/or

fsaragossi@nxpco.com
Tel: 242-322-8521

Bank of The Bahamas

INTERNATIONAL



GOVERNMENT GUARANTEED ADVANCED
EDUCATION LOAN SCHEME

n collaboration with The Education Guaranteed Fund Loan Program of the Ministry of Education, Bank of



The Bahamas Intemational is pleased to advese that the cheque disbursement for ALL students in
the Loan Program will take place at Holy Trinity Activity Centre, Stapledon
Gardens, beginning Monday, August 9th to Friday, August 13", 2010 fom

9:00 a.m. to 3:00 p.m, 2¢ iollows:












World Renowned And One Of Britain's
Foremost Cancer Specialist
Is Inviting The General Public To

A Free Public Lecture On Cancer
And Will Be Answering Your Questions
About This Fatal Disease.

Saturday August 14th, 2010

11:00 am A-C Monday, August 9, 2010

Cancer Society Of The Bahamas D-| Tuesday, August 10, 2010
East Terrace Centreville Jeu Wednesday, August 11, 2040

Nassau, Bahamas
N-R Thursday, August 12, 2010

ONE (1) WEEK ONLY!



Professor Karol Sikora
Director of Medical Oncology,

The Cancer Centre, Bahamas

And
: Tel: 242-502-9610
ctor, Cance rsUK,
—_ —— RSVP - Space Is Limited 5-Y Friday, August 13, 2010

(Registration Is Free)




TIME: 9:00 a.m, - 3:00 p.m.
PLACE: Holy Trinity Activity Centre
Stapledon Gardens

The Cancer Centre, Bahamas
Will Be Hosting A
Cancer Clinic

With Professor Dr. Karol Sikora
To Examine And Provide
Consultation To Persons With Cancer
Monday, August 16th, 2010
Telephone: 242-502-9610 (For An Appointment)
Visit Us (a) www.thecancercentre.com

THE CANCER CENTRE

BAHAMAS

Returning Students AND Guarantors should be present and must bring relevant
identification, (valid Passport and National Insurance Card),

« Students must ensure that the Ministry of Education is in receipt of a current transcript.

PLEASE NOTE: DISBURSEMENTS MADE AT
THE BANK WILL INCUR A PENALTY FEE!

Lc The Medics! Pavilion Bokomas

aso, | he Bobsmas
Phowe: (247) 502-41 ax: (247) 502-619



www thecancercentre.com

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





PAGE 4B, MONDAY, AUGUST 9, 2010

THE TRIBUNE



Visit ovr website af wewcob,eda. iy



The public is advised that The College
of The Bahamas will be closed for one
day on Tuesday, 17th August, 2010, as
all staff will be taking part in the staff
day.

The College will resume normal
business hours on

Wednesday, 18th August, 2010.

( A) THE COLLEGE OF THE BAHAMAS S m all C a
=

ps losing their

edge over blue chips

By DAVE CARPENTER
AP Personal Finance
Writer

CHICAGO (AP) — Could
David be losing his historical
edge over Goliath in the stock
market? Investors are start-
ing to wonder.

Small-cap stocks have lost

Site -Swiseclanw

LIVE & WORK

IN PARADISE

Every day of the year

Little Switzerland is a company with over 50 years experience in luxury retailing with over 30 stores
in The Caribbean, Florida and Alaska. We sell great names like Breitling, Tag Heuer, Omega, Rado,

Baume & Mercier, Raymond Weil, Movado and more.

If you want a career in watch repair we have an immediate opening in Nassau for the position of

Watchmaker in our Breitling watch boutique.

Watchmaker

Major Responsibilities Include:

Repairs, cleans, and adjusts watches using watchmaker’s tools, measuring instruments, bench
machines, and cleaning equipment. Removes mechanism from case and examines mechanism
for defective parts. Repairs broken, damaged or worn parts using handtools and machines.

Implements effective inventory controls in compliance with Internal Audit standards to allow for the

effective and timely ordering of watch parts and supplies.

Provide helpful and accurate communication and feedback to customers to ensure personal

customer service that would exceed their expectations.

Position Requirements:

Must have completed factory training and certification by BREITLING and WOSTEP or

equivalent.

Strong communication skills and ability to work cooperatively with others.

Good oral and written comprehension of the English language.

To apply, please email or fax your CV/resume with a cover letter to:
E-mail: Thallas@nxpco.com Of wearey@nuxpco.com

Fax: (242) 356-9860
Mail: William Carey
Little Switzerland
PO Box N-7116
Nassau, Bahamas











BIS

Money at Work



ROYAL FIDELITY

BISX LISTED & TRADED SECURITIES AS OF:

FRIDAY, 6 AUGUST 2010
BISX ALL SHARE INDEX: CLOSE 1,491.49 | CHG- 0.40 | %CHG -0.03 | YTD -73.89 | YTD % -4.72
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

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







52wk-Low Security
AML Foods Limited

Bahamas Property Fund
5.00 Bank of Bahamas 5.00
0.25 Benchmark 0.27
3.15 Bahamas Waste 3.15
2.14 Fidelity Bank 2.17
9.62 Cable Bahamas 11.11
2.50 Colina Holdings 2.50
5.00 Commonwealth Bank ($1) 6.04
2.23. Consolidated Water BDRs 2.36
1.60 Doctor's Hospital 1.95
5.94 Famguard 6.07
8.75 — Finco 8.90
9.50 — FirstCaribbean Bank 9.74
3.75 Focol (S) 5.03
1.00 Focol Class B Preference 1.00
5.00 ICD Utilities 5.59
9.95 J. S. Johnson 9.95
10.00 Premier Real Estate 10.00

Previous Close Today's Close

Change Daily Vol.
0.00
0.00
5.00 0.00
0.25 -0.02
3.15 0.00
2.17 0.00
11.11 0.00
2.50 0.00
6.04 0.00
2.27 -0.09
1.90 -0.05
6.07 0.00
8.90 0.00
9.74 0.00
5.03 0.00
1.00 0.00
5.59 0.00
9.95 0.00
10.00 0.00

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)

52wk-Hi 52wk-Low

99.46

100.00
100.00
100.00
100.00

Security

Bahamas Note 6.95 (2029) BAH29
Fidelity Bank Note 17 (Series A) + FBB17
Fidelity Bank Note 22 (Series B) + FBB22
Fidelity Bank Note 13 (Series C) + FBB13
Fidelity Bank Note 15 (Series D) + FBB15

Symbol

Last Sale

Change
99.46 0.00
100.00 0.00
100.00 0.00
100.00 0.00
100.00 0.00

Daily Vol.

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

52wk-Low Symbol Bid
7.92 Bahamas Supermarkets 9.42
6.00 Caribbean Crossings (Pref) 2.00
0.40 RND Holdings 0.35

Ask $
10.42

Last Prine
14.00

6.25 4.00

0.40 0.55

Daily Wei.

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

29.00 ABDAB 30.13
0.40 RND Holdings 0.45

31.59

29.00
0.55 0.55

BISX Listed Mutual Funds

52wk-Low
1.4387
2.8266
1.4817

Fund Name NAV
CFAL Bond Fund 1.4825
CFAL MSI Preferred Fund 2.9101
CFAL Money Market Fund 1.5451
2.8522 Royal Fidelity Bahamas G & | Fund 2.8522
13.0484 Royal Fidelity Prime Income Fund 13.4110
101.6693 CFAL Global Bond Fund 109.3929
93.1998 CFAL Global Equity Fund 100.1833
1.0000 FG Financial Preferred Income Fund 1.1177
1.0000 FG Financial Growth Fund 1.0785
1.0000 FG Financial Diversified Fund 1.1162
9.1005 Royal Fidelity Bah Int! Investment Fund Principal 9.5439
Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
9.3299 — Royal Fidelity Bah Int! Investment Fund Principal
Protected TIGRS, Series 3
4.8105 — Royal Fidelity Int'l Fund - Equities Sub Fund

1.4825
2.9265
1.5451
3.2025
13.6388
109.3929
105.7795
1.1177
1.0917
1.1162
9.5795

11.2361 10.0344



10.0000 9.3299



7.9664 7.3073

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

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

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

S$) - 4-for-1 Stock Split - Effective Date 8/8/2007

$1) - 3-for-1 Stock Split - Effective Date 7/11/2007



YTD%

Last 12 Months % NAV 3MTH
3.04 1.460225
0.80 2.902023
2.52 1.528885

-8.49

0.33
5.20 107.570620

-1.52 105.779543

2.52
0.98
2.34
2.16

6.84
6.70 6.70

-5.31 16.22

MARKET TERMS

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask § - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

EPS $

-0.877

-0.003

6.95%

Prime + 1.75%

Prime + 1.75%

EPS $
-2.945

their sizzle in recent months,
falling 12 per cent and under-
performing blue chips since
the market's powerful 13-
month rally ended in April.

Such price swings are hard-
ly unusual, and that's only
part of the evidence that sug-
gests their latest run of domi-
nance over large-company
stocks is ending. Some experts
contend they are as over-
priced as they've been in
three decades.

A new study by BNY Mel-
lon Beta Management high-
lights small caps’ vulnerabili-
ty. Investors, the study found,
are no longer compensated
for the extra risks they take
buying small stocks.

"Right now there's no ben-
efit to investing in small caps
versus large caps," says Mark
Keleher, CEO of the San
Francisco-based investment
firm. "The optimum time to
invest in small caps may have
passed."

Investors apparently are
reaching the same conclusion.

US small-cap funds saw
outflows of $822 million for
the week that ended Wednes-
day, according to EPFR
Global, a Boston-based firm
that tracks global fund flow
data. That tipped fund flows
into negative territory for
2010. Less than four months
after the year-to-date total
reached $6.3 billion in inflows,
it is now at $689.8 million in
outflows.

Melissa Wedel, a research
analyst at Litman/Gregory
Asset Management in Orin-
da, Calif., has noticed a flight
to higher-quality blue chip
stocks from small caps among
fund managers.

"Small caps are not an area
one would want to be in too
heavily right now,” she says,
citing their comparatively

FG CAPITAL

BROKERAGE & ADVISORY SERVICES

Ze

bs

COLONIAL

Div $ P/E
0.250
0.050
0.598

0.168
0.055
1.408
0.511
0.460
0.111
0.627

0.168
0.720
0.366
0.000
0.407
0.952
0.156 64.1



Interest Maturity

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

Div
0.000 N/M
0.480 N/M
0.000 256.6

0.000
0.001

4.540
0.002

0.000 9.03
0.000 261.90

NAV 6MTH
1.438700
2.906145
1.512735

NAV Date

103.987340
101.725415





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

higher valuations.

But the notion of small caps
as laggards runs counter to
what every student of invest-
ing learns early on. Small
stocks as a group have out-
performed large ones for at
least three-quarters of a cen-
tury.

Small-cap stocks, or those
with market capitalizations
between $160 million and $2
billion, have netted investors
an average two per cent high-
er annualized returns than
large caps since 1927, accord-
ing to Ibbotson Associates.

The performance gap
widened dramatically after
2000. The Russell 2000 index
of smaller companies has
beaten the Standard & Poor's
500 index, a common yard-
stick for large caps, in every
year of the past decade except
2007. It's up 29 per cent from
10 years ago, compared with a
23 per cent drop for the S&P.

Investment

A $10,000 investment in the
Russell 2000 at the start of
2000 would have grown to
$14,802 as of July 31, assum-
ing all distributions reinvest-
ed, according to Morningstar
Inc. The same amount put
into the S&P would have
shrunk to $9,080.

Small has proven better
than big over the long run for
several reasons.

Small companies can react
faster to changes in the busi-
ness environment and grow
faster. They thrive when inter-
est rates are low and financing
their growth doesn't cost as
much. The comparative lack
of information also means
there are more opportunities
for small stocks to be mis-
priced.

More recently, they have
benefited by having limited
exposure to Europe. And
small caps tend to lead the
way during economic recoy-
eries; they've outperformed
large caps in the first year fol-
lowing each of the last nine
recessions.

What's changed about their
outlook is partly a question
of timing. If the recession end-
ed just over a year ago, as
most economists think, that
means small companies’ post-
recession resurgence could be

largely over.

Some analysts also say the
nearly unprecedented 118 per
cent run-up small-cap stocks
enjoyed from March 2009 to
late April 2010 pumped their
valuations too much.

The BNY Mellon study
forecast approximately equal
returns for small and large
caps over the next three years
— a period during which
interest rates are expected to
rise. This is the first time since
1983, it said, that investors get
no premium for sinking mon-
ey into companies that have
less liquidity and higher trans-
action costs.

But small cap boosters say
concerns about the short term
are overstated. Bill McVail,
small-cap growth portfolio
manager at Turner Invest-
ment Partners in Berwyn, Pa.,
says smaller companies are
poised to expand as soon as
employment and consumer
sentiment turn around.

"Yes, they're a little more
expensive than the S&P, but
their earnings growth is seem-
ingly higher” than large caps’,
he says.

Chris Retzler, portfolio
manager for the Needham
Small Cap Growth Fund, says
long-term investors still can
find bargains. Small-cap
health care stocks, he says, for
instance, have been avoided
because of ongoing uncer-
tainty over health care
reforms. So they're a great
buying opportunity.

Even doubters aren't say-
ing small stocks are a terrible
investment. It's just that
they're no longer the near-
automatic winner over large
caps that they've long been.

Dirk Van Dijk, senior equi-
ty strategist for Zacks Invest-
ment Research in Chicago, is
among those who now lean
toward large caps that are
now loaded with cash, strong
balance sheets and strong
credit.

"There are really good
investment opportunities in
good, stable, safe companies,”
he says, citing Microsoft Corp.
as a prominent example.
"Why take the risk in compa-
nies that you have less infor-
mation about, that have less
access to capital and are prob-
ably dependent on one or two
major customers?"

NOTICE

NOTICE is hereby given that ALIDIEU BRAZELA of GENERAL
DELIVERY, LOWER BOGUE, ELEUTHERA, 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 9th day of August, 2010 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Nassau, Bahamas.

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 46 of 2000)

AIRLINE BROKING SERVICES LIMITED
IBC N° 144,745 B
(In Voluntary Liquidation)

NOTICE is hereby given that in accordance with Section 138
of the International Business Companies Act No. 46 of 2000,
AIRLINE BROKING SERVICES LIMITED is in Dissolution.

Any person having a Claim against the above-named com-
pany is required on or before the September 30, 2010 to send
their name, address and particulars of the debt or claim to the
Liquidator of the Company, or in default thereof they may be
excluded from the benefit of any distribution made before such

claim is approved.

REDCORN CONSULTANTS LIMITED is the Liquidator.

Py
i

ht

Liduidatdr
I

To advertise in 7he
gi Tee ed ES
in circulation, just call
002-2371 totlay!





THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 5B





What recession? US outdoor
gear makers ‘buoyant’

By PAUL FOY
AP Business Writer

SALT LAKE CITY (AP)
— Despite an economy ham-
mered by recession, sales have
doubled every year for a tiny
New Hampshire company
that makes tents of all things.
But these aren't just any tents.
They are for outdoor enthu-
siasts — not families forced
out by foreclosures — and
they are definitely not cheap
tents.

Nashua-based NEMO
Equipment Inc. makes innov-
ative mountaineering tents
that stand up on their own
without poles, using inflatable
air bladders instead for sup-
port against the stiffest winds.

The innovative startup with
only 13 employees is but one
success story in the outdoor
gear market that has shown
remarkable resilience against
economic headwinds.

The more than 4,000 out-
door equipment manufactur-
ers that gathered in Salt Lake
City for a trade show last
week weren't just optimistic.
Many sounded giddy.

"People are buying tents
and sleeping bags and they're
going camping,” said Kate
Ketschek, NEMO's market-
ing director. "When times get
tough, people get back to
their roots."

The industry was spooked
last year when the economy
tanked, but it held its own and
is rebounding fast. The reces-
sion hardly nicked it — sales
were down 2 percent in 2009
but are rising at a rate of 6
percent, said Frank
Hugelmeyer, president and
CEO of the Outdoor Industry
Association.

It helps that buyers of near-
ly $50 billion worth of out-
door gear are, by and large,

ston

> Aeetieitat rr

= dar



WHAT RECESSION?: People walk around exhibitors during the Outdoor Retailer Summer Market at the Salt Palace Convention Center in Salt

Lake City, Utah.

discriminating, and that many
brands like The North Face
or Mountain Hardwear have
moved into the fashion main-
stream.

Many outdoor consumers
will spend extra for the best
products even if it means cut-
ting back on other purchases,
said Joe Mc Swiney, president
of Seattle-based Cascade
Designs, a diversified manu-
facturer of camping gear.

"We're doing fabulously,”
said Mc Swiney, who said his
private company doesn't
release sales figures but is

"experiencing strong growth."

"This industry has a buoy-
ancy,” he added. Outdoor
recreation is "the kind of
thing people fall back on
when they don't have a lot of
money to spend on other
things.”

Optimism

The optimism was widely
shared on the aisles of the
Outdoor Retailer show, held
twice a year in Salt Lake City.
Organizers just signed up to
keep it here for several more

difites

MAAR BLE & GCRANITE SPECIALISTS

Tiles

Travertines
Marbles
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#91 Wulff Road
P.O.Box N-4111
Nassau, Bahamas
Tel: 242-326-8526
Fax: 242-322-5607

C emetery

Monultents

Email: info@wecarestonework.com..——....
website:www. wecarestonework. com

years.

Ventura, Calif.-based
apparel maker Patagonia is
having its best back-to-back
years since it was incorporat-
ed in 1972, said Rob Bon
Durant, vice president of mar-
keting. "We've been incredi-
bly recession-resistant."

Patagonia, with $330 mil-
lion in sales, grew 12 percent
last year and expects to do as
good or better this year, he
said. It counts on loyal cus-
tomers for a quality brand
that returns 1 percent of sales
to environmental causes.

(AP Photo)

"When disposable income
doesn't matter, people choose
us,” he said.

People are looking to out-
door recreation because it's
cheap, executives said. But
there's money in the business.
It supports 6.5 million U.S.
jobs. Together with $243 bil-
lion in recreational services
and money changing hands,
the industry has taken to call-
ing itself a $730 billion enter-
prise — the better to sell
politicians on things like the
Land and Water Conserva-
tion Fund.

Interior Secretary Ken
Salazar gave his endorsement
to all things outdoors on a vis-
it to the trade show last week.

"We're facing some tough
times in America, but it's the
right time to move forward
with a conservation agenda,"
he told executives packed in a
hotel ballroom.

The industry regards the
Land and Water Conserva-
tion fund as its salvation, help-
ing keep people interested in
the outdoors. It allocates off-
shore oil-and-gas royalties for
the purchase of land and
waterways for public use, with
matching grants for states and
communities. The big empha-
sis this year is on creating
urban parks, to draw kids
away from video games.

The House approved $900
million for the fund on July
30, leaving a final decision
with the Senate.

"Our big commitment is
getting youth outdoors,” said
Steve Rendle, CEO of The
North Face, a gorilla of the
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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 7B





Bahrain says no plans to

ban BlackB

By ADAM SCHRECK

AP Business Writer

DUBAI, United Arab
Emirates (AP) — Bahrain's
foreign minister said Sunday
the country has no plans to
follow its Persian Gulf neigh-
bours in banning some Black-
Berry services because secu-
rity fears do not outweigh the
technological benefits.

His comments come as
device maker Research in
Motion Ltd. is facing opposi-
tion by a number of countries
around the world, including
Saudi Arabia and the United
Arab Emirates in the Gulf,
to the way its encrypted e-
mail and messenger services
are managed.

Bahrain's Sheik Khaled bin
Ahmed AI Khalifa told The
Associated Press the hand-
held devices raise legitimate
concerns, but that his nation
has decided that banning
some of the phones’ features
is “not a way of dealing with
it.”

COMMONWEALTH OF THE BAHAMAS

"We're not saying there is
no security concern,” Sheik
Khaled said in an interview.
But, he added: "There are
many other ways for the crim-
inals or terrorists to commu-
nicate, so we decided we
might as well live it.”

Canadian-based RIM is
negotiating with Saudi
authorities to avoid a ban on
messaging services on the
devices, while neighbouring
UAE is planning an even
more sweeping crackdown on
the data services starting in
October.

Both countries have cited
security concerns. Critics con-
tend that the countries, which
maintain tight controls on the
media, are also motivated by
a desire to monitor users’
speech and political activity.

Sheik Khaled said Bahrain
fully respected the decisions
taken by other Gulf states
regarding the devices, and
declined to comment on the
motivation behind their
moves.

2009

IN THE SUPREME COURT

COMMON LAWAND EQUITY DIVISION CLE/QUI/00132

IN THE MATTER OF ALL that piece parcel or

tract of land containin
acres situate at White

approximately 12.76

ound on the western

coast of Eloow Cay (Little Guana Cay) one of
the Cays in the Abaco chain of Cays in the
Commonwealth of The Bahamas

AND



NO BAN: A BlackBerry user displays text message sent by his service
provider notifying him of the suspension of services at a mobile
shop in Dubai, United Arab Emirates. Officials from several nations,
including the United Arab Emirates, India, Saudi Arabia and Indone-
sia, have announced or are contemplating bans on BlackBerry features.

However, he said his coun-
try —a small island kingdom
that hosts the US Navy's 5th
Fleet — does not see a need
for a ban on BlackBerry mes-
saging or other data services
for now despite the security
concerns.

"It's not a way of dealing
with it. We will really kind of
lose a lot of communication
freedom just for the sake of
dealing with one matter,” he
said.

Local media in Bahrain
have reported that authori-

(AP Photo)

ties are cracking down on the
spread of some types of news
and information via Black-
Berry.

Sheik Khaled acknowl-
edged there were "some con-
cerns raised” but said sharing
information using the devices
remains legal. Authorities
were aiming instead to warn
users against spreading slan-
derous and libelous informa-
tion, he said.

The tech-savvy foreign
minister posted a statement
to his Twitter account Thurs-



PN eR es VERS SS
em eR aie

(Ore eee de -iole-))







¢ Accounting records in bad shape?



day that he said came from
the country's crown prince,
Sheik Salman bin Hamad Al
Khalifa. In it, he quoted Sheik
Salman offering assurances
no ban on messaging was
planned, saying a decision to
halt the service would be
"ignorant, short sighted and
unenforceable."

Late Saturday, Saudi Ara-
bia's telecom regulator said
it was giving mobile opera-
tors more time to finalize a
deal to allow BlackBerry
messaging to continue,
staving off a ban of the ser-
vice in the Arab world's
largest economy.

The oil-rich kingdom's
Communications and Infor-
mation Technology Commis-
sion said companies had 48
hours ending Monday to test
a system that would allow
them to avert a ban.

"Considering the efforts
made by mobile phone ser-
vice providers toward meet-
ing CITC's organizational
requirements and fulfilling
license conditions, they were
given an additional grace
period of 48 hours, which
ends on Monday, in order to
test the proposed solutions,”
the regulator said in a brief
statement. No details were
provided.

Saudi officials told The
Associated Press that RIM
has reached a preliminary
agreement with Saudi regu-
lators that would allow the
government some access to
users' data, and that authori-
ties were examining how such
a system might be imple-
mented.

They say the plan involves
placing a BlackBerry server
inside Saudi Arabia, which

erry services

already has strong controls
on the Internet to block
morally offensive and political
content and maintains strict
controls on freedom of
expression.

RIM has declined to com-
ment on the state of negotia-
tions. Saudi Arabia's three
mobile operators couldn't be
reached.

A deal that allows Saudi
officials to access user data in
the conservative Islamic coun-
try could set a new precedent
for how technology compa-
nies and governments interact
around the world.

A number of countries say
they see BlackBerry devices
as a security threat because
encrypted information sent
on them is difficult, if not
impossible, for local govern-
ments to monitor when it
doesn't pass through domestic
servers.

The UAE has said it plans
to block BlackBerry e-mail,
Web browsing and messag-
ing services starting in Octo-
ber. India, Indonesia and
Lebanon have also raised
concerns about the devices.

Simon Simonian, a tele-
coms analyst at Dubai-based
investment bank Shuaa Cap-
ital, said the way Saudi Ara-
bia solves its impasse with
RIM could provide a model
for other countries eyeing
BlackBerry crackdowns.

"Everybody will be closely
monitoring the developments
in Saudi Arabia to see if it
could set an example and
become a template for reso-
lution in the UAE or other
countries," said Simon Simon-
ian, a telecoms analyst at
Dubai-based investment bank
Shuaa Capital.

ea MATTER of the Quieting Titles Act,

AND
IN THE MATTER of the Petition of MAITLAND
LOWE

NOTICE

NOTICE IS HEREBY GIVEN that MAITLAND
LOWE, The Petitioner claims to be owner in
fee simple in possession of all that piece parcel
or tract of land containing approximately 12.76
acres situate at White Sound on the western
coast of Eloow Cay (Little Guana Cay) one of
the Cays in the Abaco chain of Cays in the
Commonwealth of The Bahamas, and has
made application to The Supreme Court of the
Commonwealth of The Bahamas under section
3 of the Quieting Titles Act, 1959 to have the
said piece parcel lot of land investigated and
the nature and_extent thereof determined and
declared in a Certificate of Title to be granted
ae the Court in accordance with the provisions
of the said Act.

2

AND TAKE NOTICE that copies of a diagram
or plan showing dimensions of the said piece
parcel or lot of land ney be inspected during
normal working hours at the following places:

a) The Registry of the Supreme Court,
ast S

treet North, Nassau, The Bahamas:
P) The Office of the Administrator, Marsh
arbour, Abaco, The Bahamas;

¢) Office of the Local Government oe
own District Council, Hope Town, Abaco, The
Bahamas; and

d) The_ Chambers of the Petitioner's
Attorneys Sears & Co., No. 10 Market Street
North, Nassau, The Bahamas.

NOTICE is hereby act that any person
having dower or a right to dower or an adverse
claim or claim not recognized in the Petition
shall on or before the 7 day of July, A.D.
2010 file in the Registry of The Supreme Court
in the City of Nassau, aforesaid and_serve on
the Petitioner or his Attorneys a Statement
of his/her or its claim in the prescribed form
verified by an Affidavit to be filed therewith.
Failure of any such person to file and serve
a Statement of Claim within al (30) days
herein will operate as a bar to such claim.
Dated this 14" day of May, A.D., 2010.

MESSRS SEARS & CO.
Chambers

No. 10 Market Street
Nassau, Bahamas
Attorneys for the Petitioner



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LEGAL NOTICE OF DISSOLUTION

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), BIP FUND (I) GP LIMITED is in
dissolution. Kyrene Kelty is the Liquidator and can be
contacted at CIT (Bahamas) Limited One Marina Drive,
Paradise Island, PO. Bow 55-19140, Nassau Bahamas. All
persons having claims against the above-named com
pany are required to send their names, addresses and
particulars of their debts or clainns to the Liquidator
before the 6th day of September, 2010.

Signed: Kyrene Kelty
Liquidater

THE COLLEGE OF THE BAHAMAS

Visit our website at www.cob.edu.bs

IMPORTANT DATES

Fall Semester 2010
New Student Orientation

Parents’ Evening
Tuesday, 17th August, 2010
6:30 p.m.-8:00 p.m.

Orientation
Wednesday, 18th August, 2010
8:00 a.m.-12:30 p.m.

Advisement & Registration
Wednesday, 18th August, 2010
2:00 p.m.-7:00 p.m.

Advisement, Registration &
Bill Payment
Thursday, 19th August, 2010
Friday, 20th August, 2010
9:00 a.m.-6:00 p.m.

Venue:
Performing Arts Centre,
The College Of The Bahamas
Thompson Boulevard



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



PAGE 8B, MONDAY, AUGUST 9, 2010

THE TRIBUNE







STRONG THIRST: A man tastes wine at Chateau Ste. Michelle winery,
in Woodinville, Wash.
(AP Photo)

By GEORGE TIBBITS
Associated Press Writer

SEATTLE (AP) — Hong
Kong and mainland China are
developing a strong thirst for
wine, and Washington and

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Oregon are hoping for a taste
of those growing markets.

So far, only a trickle of
Northwest wines make it to
Asian countries outside of
Japan. But experts say as
affluence grows in China's
booming economy, so will the
demand for the finer things
in life.

The recession hurt US wine
sales to most of the world last
year, but not to Hong Kong,
where the value of American
wine imports jumped 138 per
cent to $40 million.

Most of that vino came
from California, which
accounts for about 90 per cent
of the nation's total wine
exports. But the value of
Washington's shipments to
Hong Kong grew more than
fivefold.

Washington's larger winer-
ies have long cultivated cus-
tomers in China and Hong
Kong, and smaller exporters
are seeking a foothold. Earli-
er this year, a delegation from
Washington and Oregon
signed a deal to promote
wines in Hong Kong, their
first trade agreement with that
city.

"For our region, it’s about
being present, and you win by
being there,” said Al Portney,
vice president of internation-
al sales for Ste. Michelle Wine
Estates, which has been
exporting wine to Hong Kong
and China for years.

Portney said the Wood-
inville, Wash., winery pursues
a methodical and long-term
strategy showing that North-
west wines are high quality
yet affordable.

While Ste. Michelle's
exports to the region can fill a
container on a cargo ship,
Jonathan Ryweck, a one-man
exporter of three Washington
labels, ships a few pallets at
a time.

"This is not a get-rich
scheme, let me tell you,”
Ryweck said of his Port
Townsend company, Transna-
tional Ventures Inc. "It's
growing very nicely but it's
still real small volume and it's
a tough sell."

Still, the Chinese associate
foreign wine with success,
education and status, he said.

"The Chinese love the taste
profile of Washington wines,”
Ryweck said. "If you can get
the product in their mouth,
you can sell it.”

Hong Kong's wine imports
have soared since it eliminat-
ed an 80 per cent excise tax in
2008. The US Department of
Agriculture says it imported a
record $491 million of wine
last year. Most came from
France, but the US accounts
for 8 percent of those imports.

Hong Kong is now the
fourth-largest export market
for US wines behind Canada,

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POUR ON: Wine is poured for a tour group in the tasting room at the
Chateau Ste. Michelle winery in Woodinville, Wash.

the European Union and
Japan, and it's a major re-
exporter to the Chinese main-
land and other points.

Last year Washington
exported about $9.7 million
in wine, but just $721,000 to
Hong Kong and $414,000 to
China, according to figures
from Global Trade Informa-
tion Services Inc. cited by the
state Agriculture Depart-
ment. Exports to Hong Kong
jumped 529 per cent, howev-
er.

Figures for Oregon are
sketchier, but the USDA says
in 2009 the state exported
1,355 cases to Asia outside of
Japan and South Korea.
That's minuscule compared
with the 1.6 million cases its
wineries shipped in the US.

Most Oregon wineries are
family affairs that sell domes-
tically, said Katie Bray, Ore-
gon Wine Board export man-
ager. A small but eager group
is interested in exports, and
China has great potential, she
said, but the board's limited
promotional money is focused
on the major foreign markets:
Japan, the United Kingdom
and Canada.

Watson's Wine Cellar,
Hong Kong's largest specialty
wine chain, does sell Oregon's
Erath and Argyle wines, how-
ever.

"All of a sudden there's an
interest in Northwest wines,"
said Argyle winemaker Rollin
Soles. His Willamette Valley
winery produces 40,000 to
45,000 cases a year and has
shipped about 200 cases to
Hong Kong's largest specialty
wine chain, Watson's Wine
Cellar, in the past six months.
He sends only his top wines
— putting the "best foot for-
ward” to build the region's
reputation.

Chinese on the mainland
drink about 75 million cases
of wine a year, said Richard

(AP Photo)

Halstead, chief operating offi-
cer of the British consultancy
Wine Intelligence Ltd. But 90
per cent is domestically pro-
duced wine "that most wine
consumers in other countries
would struggle to recognise
as the product they drink," he
said.

Foreign sellers need to
guide new consumers on
types of wines and how they
taste, Halstead said.

"Chinese consumers are
confused by wine," he said in
an e-mail. "This is hardly sur-
prising: most Western con-
sumers are, too, and they
don't have to deal with a
totally alien script when trying
to decipher what's on the
label."

Wine Intelligence estimates
the number of Chinese who
drink imported wine — those
that can part with $20 or more
for a bottle — will grow to
about 50 million in 15 years,
nearly the number in the US
who now drink imports.

The average salary in Chi-
na's urban areas is $356 a
month, according to the latest
figures from China's National
Bureau of Statistics. But the
country's new affluence is
staggering, and the desire for
wine is rapidly spreading
beyond the big cities, Portney
said.

He and Ryweck see simi-
larities with this country. The
US had a “hard liquor and
beer culture" until World War
II, when Gls brought a taste
for wine home from Europe,
Ryweck said. By the 1970s,
there were countless good
domestic and imported wines
on store shelves.

Millions of Chinese work
or study overseas and bring
home what they learn,
Ryweck said.

"They're changing Chinese
society and part of that is
wine culture."

A TRICKLE: Elizabeth Richardson pours wine for a tour group at the
Chateau Ste. Michelle winery in Woodinville, Wash.

(AP Photo)

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





MONDAY, AUGUST 9, 2010

bk





i Caled 1

The stories behind the news







ulet War waged on
Bahamian waters

Unarmed fishermen dueling with poachers

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

“EXPULSIS, piratis, resti-
tua commercia” - Piracy
expelled commerce
restored. Funny how history
has a way of repeating itself!

There is a quiet war being
waged in Bahamian waters,
where unarmed Bahamian
fishermen are dueling
poachers — often armed to
the teeth — for their own sur-
vival and the security of
their almost $100 million or
more industry.

While this is not the canon
blasting, sail tearing piracy
of old, stories have come
from the Tongue of the
Ocean recounting our fish-
ermen boarding poaching
vessels and commandeering
catch stolen from their own
traps.

Many other stories tell of
encounters with poachers
brandishing semi-automatic
weapons and opening fire
on Bahamian fishermen.
They have even exchanged
gunfire with the authorities
put in place to protect this
country’s marine resources.

However, the fishermen
say the Royal Bahamas
Defence Force (RBDF)
often does not respond to
their positions when radioed
for help.

Vessels

These same fishermen
recently identified as many
as 11 poaching vessels in the
Great Bahama Bank, some
with Spanish names they
now believe to have origi-
nated in the Dominican
Republic.

Bahamas Commercial
Fishers Alliance's (BCFA)
chief, Adrian LaRoda, told
The Tribune that poaching
is threatening the survival
of one of this nation’s largest
exports, the spiny lobster,
with poachers removing up
to 22 million pounds a year
of the product from these
waters.

He said that while marine
life was a valuable resource
for this country, it was slow-
ly being depleted by poach-
ers from neighbouring coun-
tries such as the Dominican
Republic.

According to Mr LaRo-



‘UNDER THREAT’: Bahamas Commercial Fishers Alliance's (BCFA) chief Adrian LaRoda told The Tribune
that poaching is threatening the survival of one of this nation’s largest exports, the spiny lobster,

da, the BCFA has identified
several vessels that poach in
Bahamian waters. He said
those ships can often carry
up to 60,000 pounds of fish
or lobsters out of these
waters on one trip. And
often, when caught, they are
not stripped of their cargo,
by the authorities but made
to pay a $10,000 fine — often
0.5 per cent of the total val-
ue of their catch.

National Security Minis-
ter Tommy Turnquest said
recently that measures have
been put in place to thwart
poaching in Bahamian
waters for the opening of
this crawfish season.

Mr Turnquest said a
defence force ship and a
smaller, faster craft, have
been assigned to patrol the
Great Bahama Bank.

He cautioned fishermen
not to approach the poach-
ers if they happened upon
them, but to call for assis-
tance.

“We dont expect
Bahamian fishermen to be
out there in a fight by them-
selves,” Mr Turnquest said.

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Abner Pinder, Spanish
Wells’ Chief Counselor, said
he has not yet received any
reports about poachers from
any of the vessels that origi-
nate from his island since
the start of this crawfish sea-
son.

“I would be the first per-
son they call,” said Mr Pin-
der.

Efforts

According to him, “no
news is good news,” from
the crawfish vessels. This, he
said, he hopes is indicative
of the efforts put forth by
the RBDF.

“The same way I know
how to raise cane when
nothing is being done, I can
give credit where credit is
due,” he said.

The fishermen are often
away from their families
when the season begins, for
up to six weeks at a time,
stopping home mid-trip only
for = and a quick family

isi
With the global downturn

crashing crawfish market
values last year, fishermen
are hoping for larger catches
and even larger returns than
2009.

And because the
Bahamas was barred from
trading with the European
Union in January of this
year, the fishing industry
and its distributors have
enough to worry about,
without worrying about hun-
dreds of thousands of
pounds of their livelihood
being sold on the black mar-
ket.

Glenn Pritchard, president
of Tropical Seafood, and
Mia Isaacs, president of the
Bahamas Marine Exporters
Association (BMEA), spoke
to Tribune Business recent-
ly about the implementation
of the catch certificate.

Implementing the process-
es that would bring this cer-
tificate into force was the
most important focus for the
fisheries industry for the
past seven months, as with-
out it the Bahamas would
not be allowed to trade with
the EU.



CALL FOR ASSISTANCE: Minister of National Security Tommy
Turnquest cautioned fishermen not to approach the poachers if
they happened upon them, but to call for assistance saying, ‘We
don’t expect Bahamian fishermen to be out there in a fight by

themselves’.

If the chain of custody for
lobster tails is not certified
by the use of those certifi-
cates, countries in Europe
could reject shipments of
crawfish from the Bahamas,
completely devastating the
industry.

The certificates, which
authorities have for months
trained Bahamian fishermen
to use, will allow purchas-
ing entities to trace catches
from their possession all the
way back to the fishing boat
that made the catch — and
possibly even back to the
exact spot in Bahamian
waters where the product
was caught.

Mandate

This requirement is part
of a global mandate to help
countries ensure their food
exports are safe and trace-
able, and that they keep
their marine resources in
check to ensure sustainabil-
ity.

To further the legitimacy
of this country’s fisheries,
the Bahamas is looking into
joining the Marine Steward-
ship Council’s (MSC) fish-
eries programme which at
this time is voluntary.

The MSC is the world’s
leading environmental cer-
tification programme for
wild-caught fisheries and
many importers of this coun-
try’s lobster tails are increas-
ingly demanding that coun-
tries from which they pur-
chase must be certified, in
an effort to combat Illegal,

Unreported and Unregulat-
ed (IUU) fishing issues.

When the Bahamas brings
into force the MSC certiti-
cation it is likely that many
poachers will find a closed
market for their product.

While poachers may find
it increasingly difficult to sell
their stolen wares on the
global market, they seem
not to fear the Bahamas’ jus-
tice system, where they con-
tinue to be held for only
days at a time when caught
for poaching and then
released, often without their
illegal catches being confis-
cated, according to some
fisheries heads.

Mr Turnquest suggested
recently that there could be
a connection between some
defence force officers and
poaching vessels.

While he did not say what
those relationships might be,
he said the Ministry of
National Security has enact-
ed an operation to squeeze
out anyone who might be
working in cahoots with the
poachers.

According to him intelli-
gence gathering operations
have been put in place with-
in the RBDF in an attempt
to figure out how so many
poaching boats reported,
could avoid capture.

“They can’t continue to
evade us every time we go
down,” he said. “It is a huge
issue for the fishermen and
they have been in constant
contact with the Defence
Force, particularly with

SEE page two

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REQUEST FOR EXPRESSIONS OF INTEREST
INDIVIDUAL CONSULTANT

COMPION WEALTH OF THE BAHAMAS

NATIONAL HEALTH SERVICES STRATEGIC PLAN 2010 - 2020

HEALTH

REQUEST FOR EXPRESSIONS OF INTEREST INDIVIDUAL CONSULTANT
TC No, ATN/OC-11916-BH

PROJECT No. BH-T1015

The Government of The Bahamas fas received financing from the Inter-American
Development Bank (108) and intends to apply payments under the Project National Health
Services Strategic Plan 2010-2020, for the services of the following posts:

Project Adviser

A Project Adviser to coordinate all activities involved with the execution, delivery and
evaluation of the National Health Services Strategic Plan 2010-2010,

The Project Adviser will be required to:
(i) Provide overall project administration and oversight;
(ii) Administer the resource of the program;
(iii) Monitor contract executions and compliance; and
(iv) Prepare bi-monthly progress and financial reports.

The Ministry of Health now invites eligible individual consultants to indicate their interest
in providing the services, Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following qualifications and experience:
a) General Qualification: Postgraduate Degree (Master or PhD) in Health, Social
Sclence, Management, Economics or related subjects,
b] Work Experience: Extensive proven experience at senior level (5 years
minimum) at national and/or international level in the field of project
management, strategic planning evaluation, strategy analyses.

A Senior Health Planner Adviser to assist with capacity building, mentoring and training.
The Senior Health Planner Adviser will be required to:

(i) Analyze the existing institutional arrangements and identify challenges;

(li) Develop mechanisms to improve the effectiveness of the present governance and
institutional arrangements;

(iii) Develop a time phased operational plan, based on the draft National Health Services
Strategic Plan 2010-2020);

(iv) Train National counterparts to effectively manage a health Sector Planning Unit;

(Â¥) Prepare bi-weekly and monthly progress reports.

The Ministry of Health now invites eligible individual consultants te indicate their interest
in providing the services, Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following qualifications and experience:

a) General Qualifications: Postgraduate Degree (Master or PhD) in Health, Social
Science, Management or Economics,

b) Work Experience: Extensive proven experience at the senior level [7 years
minimum) at the national and/or international level in the field of strategic
planning.

¢] Adequacy for the assignment: training and experience in the health sector in
conducting training and institutional assignments.

ar Advi

A Senior Healthcare ICT Adviser to develop and cost a road-map with efficient and effective
ICT solutions te Improve the delivery of healtheare and sector planning,

The Senior Healtheare ICT Adviser will be required to:
(i) Review existing, new and proposed ICT initiatives throughout the healthcare sector;

(ii) Develop a time phased action plan, with related implementation costs to address the
shortcomings, and to achieve the expressed ICT goals in the 2010-2020 strategic

plan;
(iii|Train and mentor national counterparts;
(iv) Prepare monthly progress reports,

The Ministry of Health now invites eligible individual consultants te indicate their interest
in providing the services. Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following:

a) General Qualifications: Postgraduate Degree (Master or PhD) in Engineering,
Computer Science and Information Technology.

b) Work Experience: Extensive proven experience (5 years minimum) at the national
and/or international level in the field of management information systems,
processes and interoperability, project management and strategic analyses.

c) Adequacy for the assignment: training and experience in the health sector in
conducting training and institutional assignments.

Consultants will be selected in accordance with the procedures set out in the [nter-
dictes for the Selection and Contras



American Dev ee Bank:



consultants as defined in the polices.

Interested consultants for the above posts may obtain further information at the address
below during office hours 9:00am, - 5:00p.m. Bahamas Time,

Expressions of interest must be delivered via direct mail or e-mail at the address indicated
below by August 13, 2010.

Ministry of Health

Attn. Mrs. Blanche Deveaux, Deputy Permanent Secretary
P.O. Box N-3730, Meeting Street, Nassau, Bahamas

Tel: 1-242-502-4854

Fax: 1-242-325-5421

E-mail:mdr@batelnet.bs

PAGE 2C, MONDAY, AUGUST 9, 2010

THE TRIBUNE



INSIGHT



Quiet war waged on
Bahamian waters

FROM page one

regards to Dominicans on
the Great Bahama Bank.”

While the minister seems
to have the best interest at
heart for the fishermen, he
could not say why poachers
who have been caught have
not been convicted of a
crime against the Bahamas.

“We bring them in,” is all
he said.

Mr LaRoda said he has
before tracked a group of
poachers who had been cap-
tured.

According to him, he peri-
odically checked on the men
while they were being held
in the Charmichael Road
Detention Centre, only to
find out one day that they
had been fined, released and
never stripped of their catch
or their vessel in accordance

with the law.

Some avid readers of this
paper’s website _ tri-
bune242.com chimed in say-
ing: “The Government of
the Bahamas needs to be
better protectors and stew-
ards of Bahamian marine
resources.

“The rich seabeds of the
Bahamas need the protec-
tion of the Bahamas
Defence Force. If placing a
New Defence Force Base at
Great Inagua to better pro-
tect the valued resources of
the Southern Bahamas is
needed... put the resources
where it is needed.”

Another reader added:
“They’ve been spotted in
waters off east Abaco on
many occasions, but no
defence force patrols are
seen in the area. Stiffer
fines/jail terms and better
policing are needed or we

will lose a lot.”

Fishermen are hoping for
a robust crawfish season
this year, and with the
European market opened
back up to them, they could
see the financial returns
awarded them before the
recession.

Though Bahamian fisher-
men threatened this year to
go out in a blaze of glory if
they encounter poachers, it
is not the pirate battle of old
they are hoping for. They
are simply businessmen pro-
tecting their livelihood. They
are intent on restoring com-
merce on the seas to which
they have been accustomed
for years as were their
fathers before them.

The fishermen only ask
for help from the authori-
ties and that justice be car-
ried out on poachers accord-
ing to the laws of the land.

~ SKtbpe Lett secteele@ae

it. eet Te of it

Sams S ay HE
Join

Apostle Cleon

&

First bady Munroe

She » Blood
Pursuit Conference

Et rt, Grand Bahama
Se

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ATT HIT, AM ©

Ct Cd

potty

POSTE SEO MUNROE
Firm, Foundation, Kingdom Min.

Host, Rastor,
Friday, Night,

Come and Be Blessed!

it Peohle Firm In Fhe Word Wathing Fin A Spirét OF Sxcedfence”



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



THE TRIBUNE

>i MONDAY, AUGUST 9,

Top coaches
attend BBF’s
elie
international

basketball
clinic

By RENALDO
DORSETT

Sports Reporter
rdorsett@tribunemedia.net

IN an effort to further
develop the game of bas-
ketball and increase the
product produced on the
floor, the Bahamas Bas-
ketball Federation (BBF)
continued its initiative of
improving the skills of
coaches across the coun-

try.

The BBF completed its
first annual International
Basketball Coaches Clinic
this weekend with a myri-
ad of high profile coaches
imported for a weekend of
tutelage in various aspects
of the game.

The objectives of the
clinic, which featured top
college coaches from the
US and the Bahamas, is to
increase the pool of quali-
fied coaches in the country
in the various leagues and
youth development pro-
grammes, paving the way
for their long-term
involvement in the sport.

SEE page 14



PAGE

orts

2010






PAGE 14 ¢ International sports news






Tyson Gay
upsets Bolt
in 100m...

See page 14



Knowles, Fish win
first title of season



FIRST TITLE: Mark Knowles and Mardy Fish (AP photo on right) have won their first title
of the season.

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By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

fter a long, arduous
season marred by
injury, setbacks and
disappointments,
Mark Knowles and
his newest doubles partner Mardy Fish
were finally able to hoist a trophy with
their first title of the season.
Knowles and Fish outlasted Tomas
Berdych and Radek Stepanek of the
Chez Republic in the finals of the
Legg Mason Tennis Classic in Wash-
ington D C yesterday, 4-6, 7-6(7), 10-
7

The pair last won a doubles title in
2009 at the Regions Morgan Keegan
Championships in Memphis, Ten-
nessee.

In a sluggish start to an opening set,
the Czech pair held a distinct advan-
tage in both service and return points
won. Berdych and Stepanek won a
total of 19 service points and 14 return
points as opposed to 16 and seven
respectively won by the Bahamian-
American duo.

In the second set, Knowles and Fish
trailed early, but sparked a furious
comeback with the set and match in
jeopardy.

Entering the tournament unranked,
the road to the title featured several

noteworthy opponents, but no ranked
teams as many were upset in the ear-
ly rounds.

After several missed opportunities
to break service, Knowles and Fish
advanced to win the first round match
when they defeated Marcelo Melo and
Bruno Soares of Brazil 5-7, 6-4, 10-4 to
advance to the quarterfinals.

In round two, they advanced and
defeated Simon Aspelin of Sweden
and Paul Hanley of Australia, 6-4, 7-5
to advance to the semifinals.

At 6-5 in the second set, Knowles
and Fish fought from behind to gain
deuce and eventually won match
point.

In the semifinals they won 7-5, 7-5
over Rohan Bopanna of India and
Aisam-U]-Haq Qureshi of Pakistan.

At 5-6 in the first set, Bopanna and
Qureshi had a 40-15 lead and were
well on their way to forcing a tiebreak-
er. Knowles and Fish rebounded to
win the deciding point and the set.

In 2009, Knowles lost in the quar-
terfinals of this event where he and
Mahesh Bhupathi lost 16-14 to even-
tual champions Martin Damm of the
Czech Republic and Robert Lindst-
edt of Sweden.

Knowles’ season continues today at
the Rogers Cup, presented by Nation-
al Bank, in Toronto, Canada. Fish will
take the week off, therefore Knowles
will partner with Stepanek.

SCHOLARSHIP & EDUCATIONAL LOAN DIVISION

MINISTRY OF EDDCATION

IMPORTANT NOTICE

THE GOVERNMENT OF THE BAHAMAS

EDUCATION GUARANTEED LOAN FUND
PROGRAMME

2010 disbursement exercise
CHECK DISTRIBUTION EXERCISES

WILL BEGIN ON MONDAY, AUGL ST alt 2010 AND END ON
FRIDAY, AUGUST 13â„¢, 2010 FROM 9 A.M, TO3 P.M.

AT THE FOLLOWING LOCATIONS:

THE HOLY TRINITY ACTIVITIES CENTRE, STAPLETON GARDENS,

REW PROVIDENCE; AND

THE BASK OF THE BAHAMAS, FREEPORT, GRASD BAHASA (Grand

Bahama and the Northern Bahamas]

CHECKS WILL BE DISTRIBUTED BY LAST NAME IN ALPHABETICAL ORDER AND YOU ARE TO

REPORT TO THE DISBURSEMENT CENTRE OR THAT DA ORLY.

Students aan their co-homowers are required to bring a valid Passport, Natsonal Insunince Card,
and a job better with them.

ALL LOAN RECIPIENTS IN THE EDUCATION GUARANTEE LOAN PROGRAMME

ARE REMINDED THAT:

1. ALL LOAS ACCOUNTS WITH THE BANK OF THE BAHAMAS MUST BE MADE

CURRENT BY JULY 31" 2010

i, ALL OFFICIAL TRANSCRIPTS FOR SPRING 20) MUST BE RECEIVED BY THE

SCHOLARSHIP & EDUCATIONAL LOAN DIVISION

FAILURE TO COMPLY WITH THESE STANDARD REQUIREMENTS WILL RESULT IW A

with concentrations in

DELAY IN RECEIVING YOUR SEPTEMBER LOAN CHECK ANDAOR YOU MAY BE SUBJECT
TOA LATE FEE CHARGED OF 325.10

ONLY PERSONS WHO COME ON THEIR ASSIGNED DATE WILL BE SERVED

TO DETERMINE IF YOU ARE ELIGIBLE TO RECEIVE FURTHER EDUCATIONAL LOWN

FOR MORE INFORMATION CALL US TODAY!

www.sdc.edu

Tel.: 1-242-394-8570/394-8609
Fax: 1-242-394-8623
Email: sojournerdouglassnassau@gmail.com

3rd Floor, Gold Circle House
East Bay Street,
Nassau, N.P., The Bahamas

FUNDING OR IF TOU HAVE QUESTIONS

THE SCHOLARSHIP & EDUCATIONAL LOAN DIVISION
MINISTRY OF EDUCATION

SHIRLEY STREET

502-9025

THE EDUCATION LOAN COMMITTEE



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Full Text

PAGE 1

N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 106 No.214MONDAY, AUGUST 9, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDY, T-STORMS HIGH 85F LOW 80F I N S I G H T S EEINSIGHTSECTION S P O R T S Quiet war on Bahamian waters SEEPAGETHREE Pushin Da Envelope P OLICE yesterday had a m ajor breakthrough in the recent spate of break-ins at government institutions. Four men were in custody last night assisting police with their investigations into the incidents, Supt Stephen Dean, director of the National Crime Prevention Office, said. Speaking with The Tribune Supt Dean said that police are investigating the possibility that this crew of men were responsible for at least three of the breakins Immigration, Passport Office and Magistrates Court No. 9. He confirmed that police believe that these incidents are connected. However, he shot down rumours circulating in the capital last week that the break-ins were the result of a political conspiracy. Police said they would release more information about these latest develop m ents at a press conference t his morning. Supt Dean said the media and the public would be given an exact break-down of how the events occurred. Over the past several weeks thieves have raided several government buildings, prompting calls for increased security at government establishments. Last Friday, thieves raided the Department of Immi gration on Hawkins Hill. Magistrates Court No. 9 was burgled last Saturday morning when thieves cut security bars in the court window to ransack an office and make an unsuccessful attempt to steal a safe. Burglars also raided Supreme Court Senior Justice Jon Isaacs office last month, stealing personal items from his chambers and scrawling the message The PLP must P olice believe incidents ar e connected The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W www.tribune242.com I N S I D E SECTIONINSIDE Real Estate Four held over govt br eak-ins MOVIESTARSRAISE$10,000 FORRANFURLYHOMEFORCHILDREN THE young stars of Standing Ovation, this summer's hot musical movie for tweens and teenagers, performed a special live show in Nassau yesterday, raising $10,000 for the Ranfurly Home for Children. The performers, who took to the stage in the British Colonial Hiltons Governors Ballroom, are now challenging 13 persons or organisations to each match that sum so that a total of $130,000 can be raised for the home which presently houses 33 boys and girls. Standing Ovation, which is currently playing at Galleria Cinemas, is the story of two groups of students vying for a $1 million prize. "We have heard so much about the Ranfurly Home for Children and what it has meant over the years to those young people who had no other place to call home," said Diane Kirman, producer of Kenilworth Films, who helped organise the show. "Local partnerships are important wherever you go," she said, "but they are so great in a place like the Bahamas where there is an incredible amount of talent at every turn." F e l i p M a j o r / T r i b u n e s t a f f RELATIVES and friends of Tyrone Wood were left in shock by his sudden death Sunday morning. Mr Wood, 51, who was described by relatives as a very caring man reportedly died in hospital of a heart attack around 6.30am on Sunday. The father of six worked with the Bahamas Investment Authori ty in the Office of the Prime Minister. He was playing softball on Saturday old timers league. He took sick there. He went Softball star Tyrone Wood dies suddenly By NATARIO MCKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net WHILE the government has recouped some of the tens of millions of dollars owed in defaulted student loans, a considerable amount is still outstanding and new policies will now be implemented to recover the money, according to Education Minister Desmond Bannister. Mr Bannister who spoke with The Tribune yesterday New policies for outstanding student loans SEE page 11 SEE page 15 METEOROLOGISTS are keeping an eye on a low pressure system in the Atlantic which has a 70 per cent chance of developing into this sea sons latest tropical storm within the next 36 hours. However, weather experts said they expect a high pres sure ridge will prevent the storm system from heading for the Bahamas. At 5pm yesterday, the low pressure area was located just over 1,000 miles east-northeast of the Leeward Islands. SEE page 11 Weather system could become tropical storm COMPLAINTS of disrup tions in some cellular services continued over the weekend in the wake of a systems-wide blackout of communication services. The Bahamas Telecommunications Company issued a statement on Saturday afternoon indicating that its ser vices had been restored and that the company was carrying out a verification exercise. The statement read: Upon Complaints continue over disruption to cellular services SEE page 11 SEE page 15 By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net AS Anew day dawns in the Department of Public Prosecutions Jamaican attorney Vinette Graham-Allen takesu p her position as director of that department today PLP women have been urged to show greater solidarity and rally behind embattled former Deputy Director of Public Prosecutions Cheryl GrantBethel. Attorney General John D elaney said the new director is eager to begin reviewing policies, which debunks rumours that she was reconsidering the post because of the present conflict in that department with Mrs Grant-Bethell who expect SEE page 15 PLP women urged to back Grant-Bethel S UPPORT FROM M P: Cheryl Grant-Bethel

PAGE 2

By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net P OWER cuts driving t ourists out of Abaco for months are said to be coming to an end as the Bahamas Electricity Corporation brought in three additional generators last week. B ut for business owners who have suffered hundreds of thousands of dollars in losse s the move is too little too late as almost daily power cuts throughout Abaco and the cays have driven hot and angry visitors away vowing never to return. B ahama Beach Club developer Craig Roberts turned away wedding parties booked at the Treasure Cay resort during May, June and July as he warned visitors their condos would not have e lectricity. We lost well over $ 100,000 just in cancellations, Mr Roberts said. And another $100,000 in refunds. The public relations nightmare caused by the BEC p ower cuts also drove Mr Roberts to hand out free cocktails, Kaliks, and steak dinners, as well as flights to Nassau and elsewhere so guests could enjoy a vacationw ith electricity. Marinas at The Jib Room C M Y K C M Y K LOCAL NEWS PAGE 2, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Abaco power cuts coming to an end S EE page 12 A SENIOR Nassau Guardian reporter is in stable condition in hospital after a harrowing traffic accident this weekend. Juan McCartney, broadcast and print reporter, was heading north on Prospect Ridge early Saturday morning when his SUV hit a tree and flipped over. Mr McCartney was taken to Doctors Hospital by emergency medical services where he was rushed into surgery to stop the bleeding from his injuries. N ewspaper reporter is injured in traffic accident

PAGE 3

C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM AFTER months of negotiations, 12 pharmacies from the Pharmacy Owners special interest group signed contracts with the National Insurance Board (NIB on Friday to become providers for the National Prescription Drug Plan. The group made the decision to join after the NIB agreed to provide each of the pharmacies with a one-time $5,000 interest free advance to assist with initial inventory and start up costs and to increase the mark-up on the third band of drugs costing more than $25 from 25 per cent to 30 per cent. Speaking on behalf of the Pharmacy Owners Group and the Bahamas Pharmaceutical Association (BPA ton, owner of the Prescription Parlour Pharmacy, said she was happy to be at the point where she could say that they are all on board with the National Prescription Drug Plan. We are satisfied that we have negotiated in good faith and the Plan will go on. It will be successful and the key thing was that it was beneficial to all. We know that the Plan will benefit the public in terms of reducing the cost of their medical care, but we needed to be sure that it was not to the detriment of the private pharmacies and at this point we are very satisfied with the negotiations and the final contract that we are all here to sign today, Mrs PrattCharlton said. Algernon Cargill, director of NIB, called the contract signing a very successful event. He emphasised that the partnership between the private pharmacies and NIB will enable Phase I beneficiaries (Bahamian citizens over 65, NIB pensioners, NIB invalids and children) to obtain prescription medications free-ofcharge from participating pharmacies, hospital pharmacies and clinics in the public health system throughout the entire Bahamas. T e r r a n c e S t r a c h a n / T C L Pharmacy owners group sign on to drug plan CONTRACTSIGNING: 12 pharmacies from the Pharmacy Owners special interest group signed contracts with the National Insurance Board (NIB

PAGE 4

By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT Miss Grand Bahama Tempestt Stubbs will go to China next month to compete in the Miss Friendship International Beauty pageant. Tempestt unveiled her wardrobe at a cocktail reception at the Treasure Bay Casino on Saturday. Miss Global Bahamas Valdeana Bain also unveiled her wardrobe as she prepares to compete next month in the Miss Global International Pageant in Jamaica. The Friendship International pageant is slated for September 7-28. The Miss Global International pageant takes place September 22-28, in Montego Bay. Beauty queens from 30 countries around the world willbe competing for the Global International crown. Glenn Davis, organiser of the Miss Grand Bahama pageant, recently acquired the franchise for Miss Global Bahamas. The reigning Miss Global International Azaria Clare is from Nassau. She will travel to Jamaica to crown the new queen. Organisers said they are asking Grand Bahamians to support the event and the young ladies as they represent the Bahamas internationally. We are proud of our beauty queens and have every confidence that they will do well in these competitions, said Mr Davis. Mr Davis said the young women are working hard preparing for the pageants. He said competing is not easy and takes a lot of dedication and commitment. He thanked the YMCA gym for providing free training sessions for the beauty queens. The YMCA has provided free training sessions for the Miss Grand Bahama beauty queens for the past several years. Trainer Charmaine McNabb holds training sessions with Tempestt and Valdeana four times a week to ensure that they are in perfect physical shape. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM G G r r a a b b y y o o u u r r d d i i s s c c o o u u n n t t o o u u t t o o f f t t h h e e B B a a g g !Harbour bay 394-5767 S S i i z z e e s s X X S S t t o o 3 3 X X L L REPLACEMENT BULBS for all uses MEDICINE CABINET BULBS, SHOP LIGHT BULBS AND MORE!!!If its a Bulb we sell it NASSAU GLASS Mackey St 393-8165THE LIGHT BULB CENTREat the Nassau Glass Lighting Centre Pageant hopefuls work out ahead of China trip FITNESSFIRST: Tempestt Stubbs, Miss Grand Bahama, and Miss Global BahamasV aldeana Bain are seen getting fit at the YMCA. The women attend grueling workout sessions which include training on the leg press, dead lifts, elliptical machine, squat machine and stretching. V IP Services Ltd

PAGE 5

restoration of our network yesterday (Friday due to the scope of the outage, BTCs technical teams are currently conducting verification exercises to ensure the optimal quality of service our customerse xpect. As a part of the exercise, we are working with our International carriers to ensure that voice and data for our roamers are back to normal. BTC is satisfied that the cause for this network outage was isolated and has been addressed. T he release further stated, As promised, we have begun the process to credit the accounts of our prepaid customers, which is expected to be completed later today (Saturday). Many prepaid cellular customers expressed appreciation for the credit on the comp anys Facebook page, however many also complained that they had not received the purported compensation and were still experiencing problems with their cellular service. According to reports from some of BTCs prepaid cellular customers, credit was issued in amounts of $5, $10 and in some cases even $50. The company has not indicated how it intends to compensate its postpaid customers and those who experienced disruptions in their land line services. BTCs release stated that the company apologized for all inconveniences that the outage had caused, and assured the public that it is taking steps to ensure that the likelihood of a recurrence is minimised. The company advised that customers experiencing any challenges with any of its services to contact the BTCs call centre at 225-5282. Calls to BTCs acting President and CEO Kirk Griffin were not returned up to press time yesterday. The outage on Friday affected the companys system across the board in The Bahamas, including its prepaid cellular, SMS platform, landline, and its international roaming services. Mr Griffin had previously stated that the system failed at 2am Friday, when BTCs Digital Access Cross Connect System at their Main Technical centre on Poinciana Drive experienced some difficulties. He had noted that there was no act of sabotage involved and that it was purely a technical failure. Just about all of the prepaid customers were affected, 300,000 in total, and 85,000 landline customers. Reports indicated that the company saw some signs of restoration with their landline, SMS and international roaming services at 2.45pm Friday. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM It had become better-defined over the weekend, and according to the US National Hurricane Centre (NHC were expected to become increasingly favourable for a tropical depression to form over the next few days. The forecast office in Nassau said the system is currently moving in a west north-west direction and is expected to follow a similar path of Tropical Storm Colin, which yesterday weakened to a tropical depression as it passed west of Bermuda. While this developing system is not expected to threaten the Bahamas, local meteorologists said they are nevertheless monitoring it closely in the event conditions should suddenly change and cause a shift in trajectory. The forecast office in Nassau is also still watching a weak nontropical low pressure area centred a couple hundred miles eastsoutheast of Jacksonville, Florida. The system was producing disorganised showers and thunderstorms over the Florida peninsula and adjacent waters, the NHC said. Meteorologists said there was only a 10 per cent chance of the system becoming a tropical cyclone within the next 36 hours. Yesterday morning, islands in the northern Bahamas, particularly Bimini and Grand Bahama, were under warning for severe thunderstorms. This warning was discontinued later in the day. However, the Meteorological office said there was a possibility that the warning could have been reissued yesterday evening. home and took sick again, Bobby Pinder a cousin of the deceased told The Tribune Mr Wood had reportedly complained of chest pains, but had dismissed them as gas. Mr Pinder, who describes Mr Wood as a big brother, said, Its really a shock to everybody.He was the type of person who never said no. He was a caring individual. He cared for every one he came into contact with. According to Mr Pinder, four w eeks ago, Mr Wood who was also a reserve police Sergeant, was graduated from Omega College with a Bachelors degree in Business Administration. SEE STORY PAGE 13. FROM page one T yrone Wood FROM page one Weather system could become tropical storm FROM page one Cellular phones

PAGE 6

ed to be appointed Director of Public Prosecutions. Mrs Graham-Allen, formerly Director of Public Prosecutions in Bermuda, is expected to start her term with a series of orientation meetings to familiarize herself with colleagues and staff. Mrs Graham-Allens appointment to the post by the Governor General on the advice of the Judicial and Legal Services Commission sparked much controversy within the department with Mrs Grant-Bethel claiming that she was unlaw fully overlooked for the position of Director of Public Prosecutions. Recent public dialogue includes a denial by the Attorney Generals office of a claim that although Mrs Grant-Bethel has been transferred to the office of Deputy Law Reform and Revision Commissioner she is still operating as the Director of Public Prosecutions. According to the Attorney Generals office this claim is not true. According to MP for Fox Hill Fred Mitchell, PLP women should make public their support of Mrs Grant-Bethel, not only in her position as the widow of a decorated PLP, but as a female p rofessional in the public policy sector. He said Bahamian women have become the backbone of religious and civic institutions in the country, but must not limit their progress to only a supporting role. Speaking to new PLP officers at an induction ceremony in Fox Hill yesterday, the MP emphasized the need for women to become central to the political process. I n addition to greater solidarity on matters of health care, education and domestic issues, Mr M itchell also advised greater attention should be placed on the fate of little boys in the country. He said: Women, mainly, run the households, and we need to figure out together what we need to do about this issue. Because what is going to happen is there will be a disconnect between women and their male partners, due to a lack of education and socialization. was unable to confirm how much money had been recovered by the government so far, and based on the current state of affairs, he could not say when the loan programme would be re-implemented. The government decided to suspend the Educational Guaranteed Loan Programme last August with almost $70 million in student loans still owed to the government. At that time it was announced that the government had settled some $30.6 million in defaulted loans with an additional $37.4 million still in default with The Bank of The Bahamas, representing a default rate of 61 per cent. There is still a considerable amount that can be recouped. I have been approached by a number of persons who have said to me that they are having problems paying. We understand that things are tough and we are willing to work with them, Mr Bannister said. He noted, however, that there are also persons who have returned from school abroad, are gainfully employed and have not sought to repay their student loans. According to Mr Bannister, a committee is formulating new policies to deal with the issue. He noted that one of the major difficulties in the process of recouping defaulted loan payments is getting in contact with those persons who owe the government. We have to find a way to follow up with them in a country where we dont have a taxation system. We have had to find ways to contact them. We have to do a lot of follow-ups and much more, Mr Bannister said. He noted that one of the underlying issues is that persons simply need to be responsible and meet their financial obligations. Mr Bannister also stated that seven million was allocated in the current budget for scholarships with no obligation to pay. We feel that the amount is appropriate. He noted that the scholarships are awarded based on merit. Mr Bannister said that the $7 million is the largest amount ever awarded for scholarships and far exceeds the amount given out in student loans each year. The Educational Guaranteed Loan Programme was developed after the Education Guarantee Fund Act was passed in 2000, allowing the government to provide educational loans through financial institutions to students wishing to study at approved institutions. Students and their co-borrowers were allowed to borrow up to $20,000 a year for educational pursuits. The Act also allowed government to guarantee a ceiling of $100,000 worth of loans. Since its inception to 2007, about 4,734 Bahamians have benefited from the programme. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Need mortgage financing? Look no further. Let me make it happen.Miss Christina Kenny Mortgage Specialist Shirley Street Main Branch Tel: 502-7700 502-7779 christina.kenny@rbc.comAll residential mortgages are offered by Finance Corporation of the Bahamas Limited (RBC FINCOing criteria. The Lion and the Globe symbol and RBC are registered trademarks of Royal Bank of Canada.CREATEA FUTURE WITH PEACE OF MIND win the next election, all FNM must die across hisd oor with a drawing of a gun. Initial reports that up to 200 case files had disap-p eared were later denied by c ourt officials. The court raids followed a burglary at the Passport Office on Thompson Boulevard on July 8 when thieves stole a safe containing $ 7,000 and got away in a g overnment car. T he robbers were disguised from head to toe, wearing masks, jackets and gloves. According to sources the four men are expected to appear in court today to answer to charges in connection with the break-ins at the Passport and Immigration offices and Magistrates Court No. 9. It is understood they also will be questioned about a breakin at another government department. However, it is understood that the Supreme Court break-in is being investigated as a sep arate matter. FROM page one New policies for outstanding student loans N EWPOLICIES: D esmond Bannister PLP women urged to back Grant-Bethel FROM page one Four held over govt break-ins FROM page one

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C M Y K C M Y K LOCAL NEWS PAGE 16, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Stop by to see a Customer Care representative today...T e r m s & C o n d i t i o n s a p p l y .Upgr ade your Internet Service with Cable Bahamas & Win!!!& get UR Upgrade! THIS SUMMERLET US UPGRADE UEveryone receives 3 months Internet subscription absolutely FREE.1 WinnerEvery Weekreceives FREE pay-per-view access for 6 months!1 Grand Prize Winnerwill walk the red carpet at a movie premiere in Hollywood! NEW RATES& BILLING CHANGES EffectiveJuly1st,2010TheBahamasElectricityCorporation (BEC ProvidenceandtheFamilyIslands.Billingsforallconsumers during this transition period will be carried out as follows:BillsfortheserviceperiodMay16thtoJune15thwiththebillingdate July 3rd were mailed out on or around July 10th and were due for payment on July 23rd at the old rates; Bills for the service period June 15th to June 30th were estimated with a billing date of July 15th at the old rates. The bills for this abbreviated period are due for payment on August 6th; The new rate comes into effect for the service period commencing July1st,2010.Meterreadingsforthisserviceperiodwilltakeplace attheendofJuly,andbillswillbesentoutinmid-August.Paymentfor this period will become due on September 6th, 2010. Commercial accounts that were billed at the end of June at the old rates will receive their next bill at the end of July at the new rates. The new rates as of July 1st, 2010 will be as follows: RESIDENTIAL0-200 units per month10.95 cents per unit 201-800 units per month11.95 cents per unit Remaining units14.95 cents per unit Minimum monthly charge$5.00COMMERCIALAll units per month15.00 cents per unit Minimum monthly charge$10.00GENERAL SERVICEMONTHLY BILLS UNIT CHARGE KVA CHARGE Demand charge per month$11.36 per KVA 0-900,000 units per month8.70 cents per unit Remaining units per month6.20 cents per unit Minimum monthly charge$ 568.00TEMPORARY SUPPLIES16.38 cents per unit $20.00 connection fee $10.00 per month Meter RentalFUEL CHARGE(variable per unit to include total cost of fuel SPECIAL SERVICES Special Reading, Check Reading, Fuse Replacement $5.00 Meter Test Minimum charge$10.00 Visit with intent to disconnect Residential Consumer Commercial Consumer $10.00 $15.00 Reconnection Fee $20.00 Returned Cheque Fee$15.00 TARIFFB AHAMAS ELECTRICITY CORPORATION Should you have any inquiries please call 302-1786 or 302-1639 a nd Boat Harbour in Marsh Harbour have sat empty during what should be the busiest time of the year, as boats cant power up at thed ocks, and visitors are said to have been departing in droves. People leaving are angry, Mr Roberts said. They have said they will never come back, t hey are going to say to people they know dont go to Treasure Cay, and we rely on word o f mouth referrals. Marsh Harbour jeweller Percival Pinder added: This is 1,000 times worse than it has ever been. Tourists are leaving, they say they are not c oming back, and they are going to tell their friends how bad it has been. BEC is driving t hem away and its destroying tourism. Its destroying peoples businesses, destroying the economy of Abaco and whatB EC has done will take a long time to get back. A Marsh Harbour resident started keeping a record of the long hours without power in t he Pelican Shores area in May as the power w as out for 28 hours over five days at the end of that month, more than 93 hours over 24d ays in June, and for more than 107 hours o ver 20 days in July. Hope Town in Elbow Cay, Treasure Cay a nd other areas of Marsh Harbour have recorded similar periods without power. Around 250 Abaconians protested in front o f BEC offices two weeks ago and Prime Minister Hubert Ingraham showed he heard their c all when he criticised BEC on a visit to Marsh Harbour in July. The Marsh Harbour plant, which is not c apable of supplying Abaco with all of the power it needs, has now been boosted by a round 4.2MW as two rented generators and a mobile generator arrived last week. BEC chairman Michael Moss said this will allow A baco to have a consistent power supply until the new plant in Wilson City is up and running. Mr Moss maintains BEC had expected the new Wilson City power plant to be up andr unning by April or May, and therefore the M arsh Harbour plant did not receive the main tenance attention it needed. A Marsh Harbour woman said: I believe this may be the end of our power woes, but itsA ugust now and our tourists have already gone back; its really hurt our economy. For our tourism its too little too late." FROM page two Abaco power cuts By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT A man is in hospital following a stabbing incident in the Garden Villas area at the weekend, Grand Bahama Police reported. T he incident occurred around 11.30pm on Friday when police were summoned to the area after receiving reports that a man hadbeen badly beaten and was lying on the ground. ASP Loretta Mackey said officers went to the area to investigate and found a black man bleeding on the ground. She said the victim was taken by ambulance to the Rand Memorial Hospital, where he is detained in stable condition. Investigations are continuing into the matter. Man in hospital after stabbing By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT Police are appealing to the public to assist them in their investigation into the rape of two teenage girls. According to reports the girls were walking on a track road near East Atlantic Drive during the early mornings hours of August 5 when they were approached from behind by two masked men. The culprits, armed with knives, forced the girls into a building and raped them. One girl was able to escape and report the incident to the police. Officers went to the location and found the second girl. The victims were taken to hospital and examined by doctors. Police are searching for the suspects. One is of light brown complexion and the other is dark. Press liaison officer ASP Loretta Mackey is appealing to anyone with information that can assist the police with their investigations to call 3503107/8, 352-9774/5 or 911. Teens raped in Grand Bahama G ROUNDLEVEL: T he acrobatics of Mr Elastic Man thrilled the crowd at the Jamaican Independence celebrations held at Cable Beach at the weekend. The Caribbean country celebrated its 48th year of Independence yesterday. JAMAICANINDEPENDENCECELEBRATIONS F e l i p M a j o r / T r i b u n e s t a f f D RESSEDFORSUCCESS CROWNINGGLORY?: Miss Bahamas Braneka Bassett unveiled her wardrobe for the upcoming Miss Universe Pageant on Saturday. Braneka, 20, will be one of the many contestants from around the world who will be vying for the crown at the Miss Universe Pageant to be held at the Mandalay Bay Events Centre in Las Vegas on August 23. Last year, the international pageant was hosted at Atlantis, Paradise Island, and put the beauty of the Bahama islands in the spotlight. F e l i p M a j o r / T r i b u n e s t a f f

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By CHESTER ROBARDS Business Reporter crobards@tribunemedia.net D irect credit for employers is imminent, the general manager of the Automated Clearing House told Tribune Business yesterday, saying the system has been tested and re-tested and is ready for the seven clearing banks when they have completed their prepara tions. Brian Smith said the clearing banks are making certain they have all their ducks in a row before giving the final nod to the Automated Clearing House (ACHd eposits to be available to businesses. This service will give employers the ability to electronically deposit their payrolls directly into employees bank accounts regardless ofw hich financial institution they use. Its been tested and retested, said Mr Smith. We are waiting for the go-ahead from all the clearing banks. Testing has been done and so far it is running smoothly. This change in payment process will mean a significant decrease in the use of paper for large employers such as government, which issues thousands of paper cheques. Four large employers were assisting in testing the direct deposit system that will allow employers to pay their employees without those physical cheques, no matter what bank manages their account. Mr Smith said on test runs, banks have been able to receive transactions and post them as long as the correct bank account numbers are provided to the employers bank. According to him, the process requires employers to provide their financial firms with the account numbers of their employees, after which the ACH receives the routing infor mation for each employee in order for funds to be transferred to the receiver's bank. It is not clear as yet whether the clearing banks will require employers to hold a checking or savings account in order to receive payments electronically. According to him, the most important part of the process is to have the account number, or routing information correct in order for the transaction to go through without a hitch. While direct credit seems to be only weeks away now, Mr Smith saidd irect debit could still be a few more months away for account holders. According to him, direct credit will allow bank customers to transfer money from account to account on the Internet and could usher in greater use of Internet bill payment systems. However, he said direct credit is far more complicated and requires the institution to bolster its legal position, as nothing like this has been done in the Bahamas before. M r Smith said each financial institution is at a different state of readiness for Internet banking to occur, but we would like that to come on stream as quickly as possible. Hopefully there will be more big news later on in the year, he said. By CHESTER ROBARDS Business Reporter crobards@tribunemedia.net R ELIEF has finally come to Western New Providence residents needing convenient chiropractor services, with the opening of A Better Back Chiropractic Centre. Principal of the firm, Dr Jacqueline Lightbourn, said her business is the first of its kind in the West and added that despite setbacks due to the economy, it opens today for business. According to Dr Lightbourn, she is hopeful that the economy will soon rebound and that the business, which she financed out-of-pocket, will get a quick jump-start. She said now was an excellent time to begin her busi ness, as the perfect location presented to her became available. And though she was progressive in promoting the business putting herself into the 2010 phone book months before opening she was still not quite certain the business would come to fruition. However, the two-storey building through Eaton Avenue just off West Bay Street, she said turned out to be the perfect location for her business after months of searching. When it receives its first customers this week, A Better Back will be performing chiropractic adjustments, soft tissue and myofacial release, physical therapy: electrical muscle stimulation and hot and cold treatments. Dr Lightbourn practised for five years with another firm before deciding to go out on her own to open a centre where it seemed to be needed in western New Providence. Six other businesses are mostly central, she said. Im the only one out West. According to her, she received her Doctorate in Chiropractic and Bachelors in Life Science from Logan Chiropractic College just outside of St. Louis, Missouri. Last Friday she held a grand opening and ribbon cutting ceremony for A Better Back at the Cable Beach location. By CHESTER ROBARDS B usiness Reporter c robards@tribunemedia.net WESTERN New Providence is fast becoming a selfsustaining mecca with planned shopping centres and communities. One of the newest communities, Serenity, opened its gates to prospec tive buyers recently, touting affordable luxury real estate. John Clarke, Sales and Marketing director for Developer Kings Realty, said Serenitys soft opening attracted a mass of interest in the new subdivision. Serenity is a private resi dential development near Albany and its principals promise interested buyers a perfect opportunity for an affordable real estate investment. According to the developers, each model home is designed specifically to cap ture the essence of island living and honours the spirit and style of traditional Bahamian architecture. Its characteristics will include traditional white columns, verandah railings, pastel walls and lovely decks and porches, all the elements to enjoy sunsets and relaxed, balmy evenings with friends and family, said a recent press release from Kings Realty. Finding a home at Serenity will enhance your lifestyle. The development will include a club house, gated entries, adult and childrens pools, tennis and basketball courts, numerous parks, recre ation and fitness centre, nurseries, a library and 24-hour security. Serenity provides you the opportunity to be part of the exciting transformation underway in the west, an opportunity you cannot afford to miss, the release contin ued. New Providence Development Company is attempting to masterplan the western area of the island in a way that was sensitive to environmental, transportation, proper planning, community and business needs. "We struggle to bring quality plan ning to our lands," Mr Dug gan said. With AML Foods Solomons Fresh Market, modeled on the US-based Whole Foods chain, already secured as the anchor tenant in a Town Centre. T. Rhys Duggan, New Providence Development Company president and chief executive, told Tribune Business recently that the Town Centres 64,000 square foot space was split 50/50 between office and retail. Professionals such as doctors, lawyers and accountants had already expressed interest in leasing the office space. Describing New Providence Development Company as the largest private landowner in New Providence, with some 2,300-2,400 acres of undeveloped land in the west of the island, Mr Duggan said holdings represented one of the last opportunities on this island to provide housing for Bahamians that is more affordable. More than 3,000 lots were in development in western New Providence, Mr Duggan added, many of those in real estate projects being carried out by Bahamians. He gave as examples of this the Lyford Hills development, owned by Tennyson Wells and his Bahamian investor group, and Serenity. Lots in western New Providence were being sold at price points ranging from $70,000 to $170,000, and Mr Duggan said: Land is such a diminishing commodity that we are trying to pay a lot of attention to how we develop the 2,400 acres we have left. Chiropractic centre first of its kind in the west C M Y K C M Y K SECTIONB business@tribunemedia.net WEDNESDAY, OCTOBER 31, 2008 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$4.29 $4.29 $4.29The information c ontained is from a third party and The Tribune can not be held responsible for errors and/or omission from the d aily report. $4.24 $4.25 $4.26 Serenity: Affordable luxury real estate General manager Brian Smith says Automated Clearing House waiting for the go-ahead from all the clearing banks SYSTEM READY: Brian Smith. Direct credit for all employers imminent

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C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM $69 PARADISE ISLANDBAHAMAS K AILUA-KONA, Hawaii ( AP) A Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for petroleum. "Through this, we can provide a solution to a lot of the world's problems," said Gabriel de Scheemaker, CEO of Cellana, a joint-venture between Royal Dutch Shell and HR BioPetroleum. Cellana has been testing how to get the most oil from algae at the lowest cost since it was founded in 2007. To grow algae, researchers put a small amount of algae in seawater and expose it to the sun, some nutrients and carbon dioxide. The dense algae growth is moved to a larger growing container, and then open ponds. The oil-heavy algae sinks to the bottom of the ponds, and researchers remove water and extract oil from the algae. This process could be done on a larger scale to create biof uel, but it would be expens ive. A lot of the work is reducing the cost," said Cellana CEO Gabriel de Scheemaker. Cellana researchers are trying smarter designs to reduce the expense. They're also attempting to increase their yields, or the amount of algae they're able to get per square meter per day, to cut costs. The project is attracting sig nificant financial support. The US Department of Energy recently awarded Cellana $9 million to continue its research. The company may also be able to get revenue from a byproduct of the process, as the protein and carbohydrates left after oil is extracted may b e turned into fish meal or o ther animal feed. The company plans to test different algae strains to see which would provide the best oil for biofuel. The algae currently being grown on the site is all native to Hawaii, said Cellana operations manager Avery Kramer, but the company may bring in other algae strains with agriculture department approval. The joint venture was formed after Shell saw a research article HR BioPetroleum's chief science officer published about the potential of obtaining oil from algae, Kramer said. HR BioPetroleum offers expertise growing algae to the joint venture while Shell brings experience extracting oil. Cellana's pilot facility at the Natural Energy Laboratory in Kailua-Kona now employs 60 people, half of whom are from Hawaii. West Hawaii, with abund ant sunlight, consistent w eather and a reputation as a m ajor algae farming hub, was a logical place for testing algae-growing and harvesting techniques, de Scheemaker said. The company takes its name from the genus to which opihi, a small limpet native to Hawaii, belongs. Hawaii company aims to harvest oil from algae BRIGHT IDEA: Sea water is pumped into algae ponds where it is circulated with paddlewheels to encourage algae growth at a Cellana research facility in Kailua-Kona, Hawaii. The Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for petroleum. (AP Photo

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B y JEANNINE AVERSA AP Economics Writer WASHINGTON (AP A n injection of $26 billion in f ederal aid won't be enough to save the jobs of more than a half million people who work for state and local governments or for companies that d o business with them. E conomists say state and local budget gaps are so vast that up to 30,000 public jobs will be cut each month at least through year's end. And priv ate companies that contract w ith states and localities are likely to cut even more deeply. All told, 600,000 to 700,000 jobs will likely vanish over the next 12 months at states, locali ties, private contractors and other businesses that depend o n government business, according to the Center on B udget and Policy Priorities, a W ashington think tank. The July unemployment r eport, released Friday, s howed state and local governments cut 48,000 jobs last month the most in a year. S tate and local governments already have shed 169,000 jobs this year. And since their peak i n 2008, state and local payrolls have shrunk by 316,000; that figure does not include p rivate sector jobs tied to government spending. Federal Reserve Chairman Ben Bernanke warned last week that cuts in state and local spending and jobs were helping to slow the economic recovery. And two-thirds ofe conomists who responded to the latest quarterly AP Economy Survey said they thoughts tates' budget crises posed a significant or severe threat to the economy. W hen states and localities slash services and jobs, so do companies that contract witht hose governments to build school buildings or repair bridges. And the cutbacks rip-p le through the national economy, causing individuals to spend less, too. Full-time state and local government workers earn an average of $82,800 in wages and benefits annually, according to LabourD epartment data. The drop in state and local government spending in the first three months of this year shaved about half a percentage point off national eco-n omic activity. The cuts stem from shrinking state income and tax revenue resulting from the recession. Total state revenue fell 11 per cent from fiscal year2 008, when the recession began, to fiscal 2010, the National Association of State Budget Officers has estimated. In Colorado Springs, the city has turned off thousandso f streetlights to save $1.2 million a year, The Gazette newspaper of Colorado Springs reported. In Pittsburgh, the t ransit authority unveiled a plan last month to reduce service and at least 500 of its 2 ,700 jobs, according to the Pittsburgh Post-Gazette. An expected infusion of f ederal aid will help blunt the damage. The Senate last week approved a $26 billion package of aid to states in hopes of saving the jobs of teachers and other public workers. Approval by the House is expected this week. "Without the money, I would have to say the worst of the layoffs would be yet toc ome," says Brian Sigritz, director of state fiscal studies at the National Association of State Budget Officers. "It's definitely a help." But even with the aid, states f ace a collective gap of $62.3 billion in the 2011 budget year, which started July 1 for most states. An additional $53.4 billion shortfall is expected in the 2012 fiscaly ear, Sigritz says. Unlike the federal government, every state but Vermont requires a balanced budget. That's why the pace of both service cuts and layoffs ise xpected to persist. The cuts are occurring even while the struggling economy has forced more people to turn to states f or health care and other social services. The just-ended 2010 budget y ear "presented the most difficult challenge for states' financial management since t he Great Depression," the budget officers' association says. States' spending and revenue aren't likely to return to pre-recession levels until fiscal year 2012 or later, the group says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t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ittle relief seen for state and local layoffs

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By DAVE CARPENTER AP Personal Finance Writer CHICAGO (AP David be losing his historical edge over Goliath in the stock market? Investors are starting to wonder. Small-cap stocks have lost their sizzle in recent months, falling 12 per cent and underperforming blue chips since the market's powerful 13month rally ended in April. Such price swings are hardly unusual, and that's only part of the evidence that suggests their latest run of dominance over large-company stocks is ending. Some experts contend they are as overpriced as they've been in three decades. A new study by BNY Mellon Beta Management highlights small caps' vulnerability. Investors, the study found, are no longer compensated for the extra risks they take buying small stocks. "Right now there's no benefit to investing in small caps versus large caps," says Mark Keleher, CEO of the San Francisco-based investment firm. "The optimum time to invest in small caps may have passed." Investors apparently are reaching the same conclusion. US small-cap funds saw outflows of $822 million for the week that ended Wednesday, according to EPFR Global, a Boston-based firm that tracks global fund flow data. That tipped fund flows into negative territory for 2010. Less than four months after the year-to-date total reached $6.3 billion in inflows, it is now at $689.8 million in outflows. Melissa Wedel, a research analyst at Litman/Gregory Asset Management in Orinda, Calif., has noticed a flight to higher-quality blue chip stocks from small caps among fund managers. "Small caps are not an area one would want to be in too heavily right now," she says, citing their comparatively higher valuations. But the notion of small caps as laggards runs counter to what every student of investing learns early on. Small stocks as a group have outperformed large ones for at least three-quarters of a century. Small-cap stocks, or those with market capitalizations between $160 million and $2 billion, have netted investors an average two per cent higher annualized returns than large caps since 1927, according to Ibbotson Associates. The performance gap widened dramatically after 2000. The Russell 2000 index of smaller companies has beaten the Standard & Poor's 500 index, a common yardstick for large caps, in every year of the past decade except 2007. It's up 29 per cent from 10 years ago, compared with a 23 per cent drop for the S&P. Investment A $10,000 investment in the Russell 2000 at the start of 2000 would have grown to $14,802 as of July 31, assuming all distributions reinvested, according to Morningstar Inc. The same amount put into the S&P would have shrunk to $9,080. Small has proven better than big over the long run for several reasons. Small companies can react faster to changes in the business environment and grow faster. They thrive when interest rates are low and financing their growth doesn't cost as much. The comparative lack of information also means there are more opportunities for small stocks to be mispriced. More recently, they have benefited by having limited exposure to Europe. And small caps tend to lead the way during economic recoveries; they've outperformed large caps in the first year fol l owing each of the last nine r ecessions. What's changed about their outlook is partly a question of timing. If the recession ended just over a year ago, as most economists think, that means small companies' post-r ecession resurgence could be largely over. Some analysts also say the nearly unprecedented 118 per cent run-up small-cap stocks enjoyed from March 2009 to late April 2010 pumped their valuations too much. The BNY Mellon study forecast approximately equal returns for small and large caps over the next three years a period during which interest rates are expected to rise. This is the first time since 1983, it said, that investors get no premium for sinking money into companies that have less liquidity and higher transaction costs. But small cap boosters say concerns about the short term are overstated. Bill McVail, small-cap growth portfolio manager at Turner Investment Partners in Berwyn, Pa., says smaller companies are poised to expand as soon as employment and consumer sentiment turn around. "Yes, they're a little more expensive than the S&P, but their earnings growth is seemingly higher" than large caps', he says. Chris Retzler, portfolio manager for the Needham Small Cap Growth Fund, says long-term investors still can find bargains. Small-cap health care stocks, he says, for instance, have been avoided because of ongoing uncertainty over health care reforms. So they're a great buying opportunity. Even doubters aren't saying small stocks are a terrible investment. It's just that they're no longer the nearautomatic winner over large caps that they've long been. Dirk Van Dijk, senior equi ty strategist for Zacks Investment Research in Chicago, is among those who now lean toward large caps that are now loaded with cash, strong balance sheets and strong credit. "There are really good investment opportunities ing ood, stable, safe companies," h e says, citing Microsoft Corp. as a prominent example. "Why take the risk in companies that you have less information about, that have less access to capital and are probably dependent on one or twom ajor customers?" C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 5 2wk-Hi52wk-LowSecurit y P revious CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1 .341.00AML Foods Limited1.041.040.000.2500.0404.23.85% 10.759.67Bahamas Property Fund10.6310.630.000.0500.200212.61.88% 6.255.00Bank of Bahamas5.005.000.000.5980.2608.45.20% 0.580.25Benchmark0.270.25-0.021,000-0.8770.000N/M0.00% 3 .493.15Bahamas Waste3.153.150.000.1680.09018.82.86% 2.152.14Fidelity Bank2.172.170.000.0550.04039.51.84% 1 2.509.62Cable Bahamas11.1111.110.001.4080.3007.92.70% 2 .842.50Colina Holdings2.502.500.000.5110.0404.91.60% 7.005.00Commonwealth Bank (S1)6.046.040.000.4600.23013.13.81% 3 .652.23Consolidated Water BDRs2.362.27-0.090.1110.05220.52.29% 2.551.60Doctor's Hospital1.951.90-0.052,5100.6270.1103.05.79% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.908.75Finco8.908.900.000.1680.52053.05.84% 1 1.409.50FirstCaribbean Bank9.749.740.000.7200.35013.53.59% 5 .533.75Focol (S)5.035.030.000.3660.17013.73.38% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5 .595.00ICD Utilities5.595.590.005000.4070.24013.74.29% 10.509.95J. S. Johnson9.959.950.000.9520.64010.56.43% 10.0010.00Premier Real Estate10.0010.000.000.1560.80064.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7 % I nterest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029F RIDAY, 6 AUGUST 2010BISX ALL SHARE INDEX: CLOSE 1,491.49 | CHG0.40 | %CHG -0.03 | YTD -73.89 | YTD % -4.72BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)M aturity 1 9 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.067.92Bahamas Supermarkets9.4210.4214.00-2.9450.000N/M0.00% 8.006.00Caribbean Crossings (Pref2.006.254.000.0000.480N/M7.80% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.48251.4387CFAL Bond Fund1.48253.046.961.460225 2.92652.8266CFAL MSI Preferred Fund2.91010.800.192.902023 1.54511.4817CFAL Money Market Fund1.54512.524.281.528885 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8522-8.49-8.08 13.638813.0484Royal Fidelity Prime Income Fund13.41100.333.32 109.3929101.6693CFAL Global Bond Fund109.39295.207.60107.570620 105.779593.1998CFAL Global Equity Fund100.1833-1.523.56105.779543 1.11771.0000FG Financial Preferred Income Fund1.11772.525.19 1.09171.0000FG Financial Growth Fund1.07850.985.29 1.11621.0000FG Financial Diversified Fund1.11622.345.45 9.57959.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.54392.166.25 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.0344-6.845.63 10.00009.3299Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.3299-6.70-6.70 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.3073-5.3116.22 BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Jun-10BISX Listed Mutual FundsNAV Date 30-Jun-10 30-Jun-10 30-Jun-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Jun-10 30-Jun-10 31-Jul-10 30-Jul-10 30-Jun-10MARKET TERMS30-Jun-10 NAV 6MTH 1.438700 2.906145 1.512735 103.987340 101.725415 30-Jun-10 30-Jun-10 30-Jun-10 30-Jun-10 / ,9(t:25.,13$5$',6( (YHU\GD\RIWKH\HDU/LWWOHZLW]HUODQGLVDFRPSDQ\ZLWKRYHU\HDUVH[SHULHQFHLQOX[XU\UHWDLOLQJZLWKRYHUVWRUHV LQ7KH&DULEEHDQ)ORULGDDQG$ODVND:HVHOOJUHDWQDPHVOLNH%UHLWOLQJ7DJ+HXHU %DXPHt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mall caps losing their edge over blue chips To advertise in The Tribune the #1 newspaper in circulation, just call 502-2371 today!

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C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By PAUL FOY AP Business Writer SALT LAKE CITY (AP Despite an economy hamm ered by recession, sales have d oubled every year for a tiny N ew Hampshire company that makes tents of all things. But these aren't just any tents. They are for outdoor enthusiasts not families forced out by foreclosures and they are definitely not cheap tents. Nashua-based NEMO Equipment Inc. makes innovative mountaineering tents that stand up on their own without poles, using inflatable air bladders instead for support against the stiffest winds. The innovative startup with only 13 employees is but one success story in the outdoorg ear market that has shown remarkable resilience against economic headwinds. The more than 4,000 outdoor equipment manufacturers that gathered in Salt Lake City for a trade show last week weren't just optimistic. Many sounded giddy. "People are buying tents and sleeping bags and they're going camping," said Kate Ketschek, NEMO's marketi ng director. "When times get t ough, people get back to their roots." The industry was spooked last year when the economy tanked, but it held its own andis rebounding fast. The reces sion hardly nicked it sales were down 2 percent in 2009but are rising at a rate of 6 percent, said Frank Hugelmeyer, president and CEO of the Outdoor Industry Association. It helps that buyers of nearly $50 billion worth of out door gear are, by and large, discriminating, and that many brands like The North Face or Mountain Hardwear have moved into the fashion mainstream. Many outdoor consumers will spend extra for the best products even if it means cut ting back on other purchases, said Joe Mc Swiney, presidento f Seattle-based Cascade Designs, a diversified manufacturer of camping gear. "We're doing fabulously," said Mc Swiney, who said his private company doesn't release sales figures but is "experiencing strong growth." "This industry has a buoyancy," he added. Outdoor recreation is "the kind of thing people fall back on when they don't have a lot of money to spend on other things." Optimism The optimism was widely shared on the aisles of the Outdoor Retailer show, held twice a year in Salt Lake City. Organizers just signed up to keep it here for several more years. Ventura, Calif.-based apparel maker Patagonia is having its best back-to-back years since it was incorporat ed in 1972, said Rob Bon Durant, vice president of marketing. "We've been incredi bly recession-resistant." Patagonia, with $330 mill ion in sales, grew 12 percent last year and expects to do as good or better this year, he said. It counts on loyal cus tomers for a quality brand that returns 1 percent of sales to environmental causes. "When disposable income doesn't matter, people choose us," he said. People are looking to outdoor recreation because it's cheap, executives said. But there's money in the business. It supports 6.5 million U.S. jobs. Together with $243 bil lion in recreational services a nd money changing hands, the industry has taken to calling itself a $730 billion enterprise the better to sell politicians on things like the Land and Water Conservation Fund. Interior Secretary Ken Salazar gave his endorsement to all things outdoors on a visit to the trade show last week. "We're facing some tough times in America, but it's the right time to move forward with a conservation agenda," he told executives packed in a hotel ballroom. The industry regards the Land and Water Conservation fund as its salvation, helping keep people interested in the outdoors. It allocates offshore oil-and-gas royalties for the purchase of land and waterways for public use, with matching grants for states and communities. The big emphasis this year is on creating urban parks, to draw kids away from video games. The House approved $900 million for the fund on July 30, leaving a final decision with the Senate. "Our big commitment is getting youth outdoors," said Steve Rendle, CEO of The North Face, a gorilla of the outdoor industry. "That's the lifeblood of our industry." And then there's all the cool gear. NEMO's tents inflate quickly with a foot pump the first to shed standard-issue aluminum poles to save weight, while sporting multiple doors and vents. Many tent makers like Nemo have traded the heavy rainfly for waterproof, breathable fabric. "They are the BMW of tents," says Cam Brensinger,a Rhode Island School of Design graduate who developed the 5.5-pound Morpho ($430 that packs almost as tight as a loaf of bread. Lighter versions pack into the size of a can taloupe. The tents can be set up within minutes. What recession? US outdoor gear makers buoyant WHAT RECESSION?: People walk around exhibitors during the Outdoor Retailer Summer Market at the Salt Palace Convention Center in Salt Lake City, Utah. (AP Photo

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By ADAM SCHRECK A P Business Writer DUBAI, United Arab Emirates (AP f oreign minister said Sunday the country has no plans to follow its Persian Gulf neighbours in banning some BlackBerry services because security fears do not outweigh the technological benefits. His comments come as d evice maker Research in Motion Ltd. is facing opposition by a number of countries around the world, including Saudi Arabia and the United Arab Emirates in the Gulf, to the way its encrypted email and messenger services a re managed. B ahrain's Sheik Khaled bin Ahmed Al Khalifa told The Associated Press the handheld devices raise legitimate concerns, but that his nation h as decided that banning some of the phones' features is "not a way of dealing with it." "We're not saying there is no security concern," Sheik Khaled said in an interview. But, he added: "There are many other ways for the criminals or terrorists to communicate, so we decided we m ight as well live it." Canadian-based RIM is negotiating with Saudi authorities to avoid a ban on messaging services on the d evices, while neighbouring UAE is planning an even more sweeping crackdown on the data services starting inO ctober. Both countries have cited security concerns. Critics con-t end that the countries, which maintain tight controls on the m edia, are also motivated by a desire to monitor users' s peech and political activity. Sheik Khaled said Bahrain fully respected the decisions taken by other Gulf states r egarding the devices, and declined to comment on them otivation behind their moves. H owever, he said his country a small island kingdom that hosts the US Navy's 5th Fleet does not see a need for a ban on BlackBerry mes s aging or other data services f or now despite the security concerns. "It's not a way of dealing with it. We will really kind of lose a lot of communicationf reedom just for the sake of dealing with one matter," he said. Local media in Bahrain h ave reported that authori t ies are cracking down on the spread of some types of news and information via BlackBerry. Sheik Khaled acknowl e dged there were "some conc erns raised" but said sharing information using the devices remains legal. Authorities were aiming instead to warn users against spreading slan-d erous and libelous information, he said. The tech-savvy foreign minister posted a statementt o his Twitter account Thurs day that he said came from the country's crown prince, Sheik Salman bin Hamad Al Khalifa. In it, he quoted Sheik Salman offering assurances no ban on messaging was planned, saying a decision to h alt the service would be "ignorant, short sighted and unenforceable." Late Saturday, Saudi Arabia's telecom regulator said i t was giving mobile operators more time to finalize a deal to allow BlackBerry messaging to continue,s taving off a ban of the service in the Arab world's largest economy. T he oil-rich kingdom's Communications and Inform ation Technology Commission said companies had 48h ours ending Monday to test a system that would allow them to avert a ban. "Considering the efforts m ade by mobile phone service providers toward meet-i ng CITC's organizational requirements and fulfilling license conditions, they were given an additional grace p eriod of 48 hours, which ends on Monday, in order tot est the proposed solutions," the regulator said in a brief statement. No details were provided. Saudi officials told The Associated Press that RIM has reached a preliminary agreement with Saudi regu lators that would allow the government some access to users' data, and that authori-t ies were examining how such a system might be implemented. They say the plan involves placing a BlackBerry server inside Saudi Arabia, which already has strong controls on the Internet to block morally offensive and political content and maintains strict controls on freedom of expression. RIM has declined to comm ent on the state of negotiations. Saudi Arabia's three mobile operators couldn't be reached. A deal that allows Saudi o fficials to access user data in the conservative Islamic country could set a new precedent for how technology compa-n ies and governments interact around the world. A number of countries say t hey see BlackBerry devices as a security threat because e ncrypted information sent on them is difficult, if noti mpossible, for local governments to monitor when it doesn't pass through domestic servers. T he UAE has said it plans to block BlackBerry e-mail,W eb browsing and messaging services starting in October. India, Indonesia and Lebanon have also raised c oncerns about the devices. Simon Simonian, a telec oms analyst at Dubai-based investment bank Shuaa Capital, said the way Saudi Arabia solves its impasse with RIM could provide a model for other countries eyeing BlackBerry crackdowns. "Everybody will be closely monitoring the developments in Saudi Arabia to see if it could set an example andb ecome a template for reso lution in the UAE or other countries," said Simon Simonian, a telecoms analyst at Dubai-based investment bank Shuaa Capital. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, AUGUST 9, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &20021:($/,17+((0(&2857& 20021/$$1'(48,7<',9,6,21& ,17+(0$77(5$// WKDWSLHFHSDUFHORU WUDFWRIODQGFRQWDLQLQJDSSUR[LPDWHO\ DFUHVVLWXDWHDW:KLWH6RXQGRQWKHZHVWHUQ FRDVWRI(OERZ&D\/LWWOH*XDQD&D\fRQHRI WKH&D\VLQWKH$EDFRFKDLQRI&D\VLQWKH &RPPRQZHDOWKRI7KH%DKDPDV $1' ,17+(0$77(5 RI WKH4XLHWLQJ7LWOHV $1' ,17+(0$77(5 RI WKH 3HWLWLRQ RI 0$,7/$1' /2:(1 2 7 & ( 127,&(,6+(5(%<*,9(1WKDW0$,7/$1' 7KH3HWLWLRQHUFODLPVWREHRZQHULQ IHHVLPSOHLQSRVVHVVLRQRIDOOWKDWSLHFHSDUFHO RUWUDFWRIODQGFRQWDLQLQJDSSUR[LPDWHO\ DFUHVVLWXDWHDW:KLWH6RXQGRQWKHZHVWHUQ FRDVWRI(OERZ&D\/LWWOH*XDQD&D\fRQHRI WKH&D\VLQWKH$EDFRFKDLQRI&D\VLQWKH &RPPRQZHDOWKRI7KH%DKDPDVDQGKDV PDGHDSSOLFDWLRQWR7KH6XSUHPH&RXUWRIWKH &RPPRQZHDOWKRI7KH%DKDPDVXQGHUVHFWLRQ RIWKH4XLHWLQJ7LWOHVWRKDYHWKH VDLGSLHFHSDUFHOORWRIODQGLQYHVWLJDWHGDQG WKHQDWXUHDQGH[WHQWWKHUHRIGHWHUPLQHGDQG GHFODUHGLQ&HUWLFDWHRI7LWOHWREHJUDQWHG WKH&RXUWLQDFFRUGDQFHZLWKWKHSURYLVLRQV RIWKHVDLG$FW $1'7$.(127,&( WKDWFRSLHVRIGLDJUDP RUSODQVKRZLQJGLPHQVLRQVRIWKHVDLGSLHFH SDUFHORUORWRIODQGPD\EHLQVSHFWHGGXULQJ QRUPDOZRUNLQJKRXUVDWWKHIROORZLQJSODFHV Df7KH5HJLVWU\RIWKH6XSUHPH&RXUW(DVW 6WUHHWRUWKDVVDX7KH%DKDPDV Ef7KH2IFHRIWKH$GPLQLVWUDWRU0DUVK +DUERXU$EDFR7KH%DKDPDV Ff2IFHRIWKH/RFDO*RYHUQPHQW+RSH 7RZQ'LVWULFW&RXQFLO+RSH7$EDFR7KH %DKDPDVDQG Gf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t&2 &KDPEHUV 1RDUNHWWUHHW 1DVVDX%DKDPDV $WWRUQH\VIRUWKHHWLWLRQHU THE COLLEGE OFTHE BAHAMASVisit our website at www.cob.edu.bs IMPOR T ANT DA TES Fall Semester2010 New Student OrientationParentsEveningTuesday, 17th August, 2010 6:30 p.m.-8:00 p.m.OrientationWednesday, 18th August, 2010 8:00 a.m.-12:30 p.m.Advisement & RegistrationWednesday, 18th August, 2010 2:00 p.m.-7:00 p.m.Advisement, Registration & Bill PaymentThursday, 19th August, 2010 Friday, 20th August, 2010 9:00 a.m.-6:00 p.m.Venue:Performing Arts Centre, The College Of The Bahamas Thompson Boulevard Bahrain says no plans to ban BlackBerry services NO BAN : A BlackBerry user displays text message sent by his service provider notifying him of the suspension of services at a mobile shop in Dubai, United Arab Emirates. Officials from several nations, including the United Arab Emirates, India, Saudi Arabia and Indonesia, have announced or are contemplating bans on BlackBerry features. ( AP Photo)

PAGE 14

By GEORGE TIBBITS Associated Press Writer SEATTLE (AP Kong and mainland China are developing a strong thirst for wine, and Washington and Oregon are hoping for a taste of those growing markets. So far, only a trickle of Northwest wines make it to Asian countries outside of Japan. But experts say as affluence grows in China's booming economy, so will the demand for the finer things in life. The recession hurt US wine sales to most of the world last year, but not to Hong Kong, where the value of American wine imports jumped 138 per cent to $40 million. Most of that vino came from California, which accounts for about 90 per cent of the nation's total wine exports. But the value of Washington's shipments to Hong Kong grew more than f ivefold. W ashington's larger wineri es have long cultivated customers in China and Hong Kong, and smaller exporters are seeking a foothold. Earlier this year, a delegation from Washington and Oregon signed a deal to promote wines in Hong Kong, their first trade agreement with that city. "For our region, it's about being present, and you win by being there," said Al Portney, v ice president of internationa l sales for Ste. Michelle Wine Estates, which has been exporting wine to Hong Kong and China for years. Portney said the Wood inville, Wash., winery pursues a methodical and long-term strategy showing that Northwest wines are high quality yet affordable. While Ste. Michelle's exports to the region can fill a container on a cargo ship, Jonathan Ryweck, a one-man exporter of three Washington labels, ships a few pallets ata time. "This is not a get-rich scheme, let me tell you," Ryweck said of his Port Townsend company, Transnational Ventures Inc. "It's growing very nicely but it's still real small volume and it'sa tough sell." Still, the Chinese associate foreign wine with success, education and status, he said. "The Chinese love the taste profile of Washington wines," Ryweck said. "If you can get the product in their mouth, you can sell it." Hong Kong's wine imports have soared since it eliminated an 80 per cent excise tax in 2008. The US Department of Agriculture says it imported a record $491 million of wine last year. Most came from France, but the US accounts for 8 percent of those imports. Hong Kong is now the fourth-largest export market for US wines behind Canada, the European Union and Japan, and it's a major reexporter to the Chinese mainland and other points. Last year Washington exported about $9.7 million in wine, but just $721,000 to Hong Kong and $414,000 to China, according to figures from Global Trade Informa tion Services Inc. cited by the state Agriculture Department. Exports to Hong Kong jumped 529 per cent, however. Figures for Oregon are sketchier, but the USDA says in 2009 the state exported 1,355 cases to Asia outside of Japan and South Korea. That's minuscule compared with the 1.6 million cases its wineries shipped in the US. Most Oregon wineries are family affairs that sell domes tically, said Katie Bray, Oregon Wine Board export manager. A small but eager group is interested in exports, and China has great potential, she said, but the board's limited promotional money is focused on the major foreign markets: Japan, the United Kingdom and Canada. Watson's Wine Cellar, Hong Kong's largest specialty wine chain, does sell Oregon's Erath and Argyle wines, how ever. "All of a sudden there's an interest in Northwest wines," said Argyle winemaker Rollin Soles. His Willamette Valley w inery produces 40,000 to 45,000 cases a year and has shipped about 200 cases to Hong Kong's largest specialty wine chain, Watson's Wine Cellar, in the past six months. He sends only his top wines putting the "best foot forward" to build the region's reputation. Chinese on the mainland drink about 75 million cases of wine a year, said Richard Halstead, chief operating officer of the British consultancy Wine Intelligence Ltd. But 90 per cent is domestically produced wine "that most wine consumers in other countries would struggle to recognise as the product they drink," he said. Foreign sellers need to guide new consumers on types of wines and how they taste, Halstead said. "Chinese consumers are confused by wine," he said in an e-mail. "This is hardly sur prising: most Western consumers are, too, and they don't have to deal with a totally alien script when trying to decipher what's on the label." Wine Intelligence estimates the number of Chinese who drink imported wine those that can part with $20 or more for a bottle will grow to about 50 million in 15 years, nearly the number in the US who now drink imports. The average salary in Chi na's urban areas is $356 a month, according to the latest figures from China's National Bureau of Statistics. But the country's new affluence is staggering, and the desire for wine is rapidly spreading beyond the big cities, Portney said. He and Ryweck see similarities with this country. The US had a "hard liquor and beer culture" until World War I I, when GIs brought a taste for wine home from Europe, Ryweck said. By the 1970s, there were countless good domestic and imported wines on store shelves. Millions of Chinese work or study overseas and bring home what they learn, Ryweck said. "They're changing Chinese society and part of that is wine culture." C M Y K C M Y K BUSINESS PAGE 8B, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM b b t t n n f f r r b b t t b b b b t t n n b b ! " # # ! $ $ b t n f r t b n $('=+1> b b t t n n f f r r b b t t b b b b t t n n b " #!$ # $ # Northwest wineries seek growing Chinese market A TRICKLE: Elizabeth Richardson pours wine for a tour group at the Chateau Ste. Michelle winery in Woodinville, Wash. (AP Photo STRONG THIRST: A man tastes wine at Chateau Ste. Michelle winery, in Woodinville, Wash. (AP Photo POUR ON: Wine is poured for a tour group in the tasting room at the Chateau Ste. Michelle winery in Woodinville, Wash. (AP Photo

PAGE 15

INSIGHT C M Y K C M Y K The Tribune INSIGHT MONDAY, AUGUST 9, 2010 The stories behind the news Quiet war waged on Bahamian waters B y CHESTER ROBARDS B usiness Reporter crobards@tribunemedia.net EXPULSIS, piratis, restitua commercia Piracy e xpelled commerce restored. Funny how history h as a way of repeating itself! T here is a quiet war being waged in Bahamian waters, where unarmed Bahamian fishermen are duelingp oachers often armed to the teeth for their own survival and the security of their almost $100 million orm ore industry. While this is not the canon blasting, sail tearing piracyo f old, stories have come f rom the Tongue of the Ocean recounting our fish ermen boarding poaching vessels and commandeeringc atch stolen from their own traps. Many other stories tell of e ncounters with poachers b randishing semi-automatic weapons and opening fire on Bahamian fishermen. They have even exchanged gunfire with the authorities put in place to protect this countrys marine resources. However, the fishermen say the Royal Bahamas Defence Force (RBDF often does not respond to their positions when radioed for help. Vessels These same fishermen recently identified as many as 11 poaching vessels in the Great Bahama Bank, some with Spanish names they now believe to have originated in the Dominican Republic. Bahamas Commercial Fishers Alliance's (BCFA chief, Adrian LaRoda, told The Tribune that poaching is threatening the survival of one of this nations largest exports, the spiny lobster, with poachers removing up to 22 million pounds a year of the product from these waters. He said that while marine life was a valuable resource for this country, it was slowly being depleted by poach ers from neighbouring coun tries such as the Dominican Republic. According to Mr LaRoda, the BCFA has identified several vessels that poach in Bahamian waters. He said those ships can often carry up to 60,000 pounds of fish or lobsters out of these waters on one trip. And often, when caught, they are not stripped of their cargo, by the authorities but made to pay a $10,000 fine often 0.5 per cent of the total value of their catch. National Security Minister Tommy Turnquest said recently that measures have been put in place to thwart poaching in Bahamian waters for the opening of this crawfish season. Mr Turnquest said a defence force ship and a smaller, faster craft, have been assigned to patrol the Great Bahama Bank. He cautioned fishermen not to approach the poachers if they happened upon them, but to call for assistance. We dont expect Bahamian fishermen to be out there in a fight by themselves, Mr Turnquest said. Abner Pinder, Spanish Wells Chief Counselor, said he has not yet received any reports about poachers from any of the vessels that origi nate from his island since the start of this crawfish season. I would be the first person they call, said Mr Pin der. Efforts According to him, no news is good news, from the crawfish vessels. This, he said, he hopes is indicative of the efforts put forth by the RBDF. The same way I know how to raise cane when nothing is being done, I can give credit where credit is due, he said. The fishermen are often away from their families when the season begins, for up to six weeks at a time, stopping home mid-trip only for fuel and a quick family visit. With the global downturn crashing crawfish market values last year, fishermen are hoping for larger catches and even larger returns than 2009. And because the Bahamas was barred from trading with the European Union in January of this year, the fishing industry and its distributors have enough to worry about, without worrying about hundreds of thousands of pounds of their livelihood being sold on the black mar ket. Glenn Pritchard, president of Tropical Seafood, and Mia Isaacs, president of the Bahamas Marine Exporters Association (BMEA to Tribune Business recent ly about the implementation of the catch certificate. Implementing the process es that would bring this certificate into force was the most important focus for the fisheries industry for the past seven months, as with out it the Bahamas would not be allowed to trade with the EU. I f the chain of custody for lobster tails is not certified by the use of those certificates, countries in Europec ould reject shipments of crawfish from the Bahamas, completely devastating the industry. The certificates, which authorities have for months trained Bahamian fishermen t o use, will allow purchasi ng entities to trace catches from their possession all the way back to the fishing boat that made the catch and possibly even back to the exact spot in Bahamian waters where the product was caught. Mandate This requirement is part of a global mandate to help countries ensure their food exports are safe and traceable, and that they keep their marine resources in check to ensure sustainabil ity. To further the legitimacy of this countrys fisheries, the Bahamas is looking into joining the Marine Steward ship Councils (MSC eries programme which at this time is voluntary. The MSC is the worlds leading environmental cer tification programme for wild-caught fisheries and many importers of this coun trys lobster tails are increasingly demanding that countries from which they pur chase must be certified, in an effort to combat Illegal, U nreported and Unregulat ed (IUU When the Bahamas brings into force the MSC certifi c ation it is likely that many poachers will find a closed market for their product. While poachers may find it increasingly difficult to sell their stolen wares on the global market, they seem n ot to fear the Bahamas just ice system, where they continue to be held for only days at a time when caught for poaching and then released, often without their illegal catches being confiscated, according to some fisheries heads. Mr Turnquest suggested recently that there could be a connection between some defence force officers and poaching vessels. While he did not say what those relationships might be, he said the Ministry of National Security has enact ed an operation to squeeze out anyone who might be working in cahoots with the poachers. According to him intelli gence gathering operations have been put in place within the RBDF in an attempt to figure out how so many poaching boats reported, could avoid capture. They cant continue to evade us every time we go down, he said. It is a huge issue for the fishermen and they have been in constant contact with the Defence Force, particularly with CALL F OR ASSISTANCE: Minister of National Security Tommy Turnquest cautioned fishermen not to approach the poachers ift hey happened upon them, but to call for assistance saying, We dont expect Bahamian fishermen to be out there in a fight by themselves. UNDERTHREAT: B ahamas Commercial Fishers Alliance's (BCFA that poaching is threatening the survival of one of this nations largest exports, the spiny lobster, Unarmed fishermen dueling with poachers SEE page two

PAGE 16

C M Y K C M Y K INSIGHT PAGE 2C, MONDAY, AUGUST 9, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM r egards to Dominicans on t he Great Bahama Bank. While the minister seems to have the best interest at h eart for the fishermen, he could not say why poachers w ho have been caught have not been convicted of a crime against the Bahamas. We bring them in, is all he said. M r LaRoda said he has before tracked a group of poachers who had been cap-t ured. According to him, he peri o dically checked on the men while they were being held in the Charmichael Road Detention Centre, only tof ind out one day that they had been fined, released and never stripped of their catcho r their vessel in accordance with the law. Some avid readers of this papers website trib une242.com chimed in sayi ng: The Government of t he Bahamas needs to be b etter protectors and stewa rds of Bahamian marine r esources. The rich seabeds of the Bahamas need the protection of the Bahamas Defence Force. If placing a New Defence Force Base at Great Inagua to better prot ect the valued resources of the Southern Bahamas is needed... put the resources where it is needed. A nother reader added: Theyve been spotted in waters off east Abaco on many occasions, but nod efence force patrols are seen in the area. Stiffer fines/jail terms and better policing are needed or we will lose a lot. Fishermen are hoping for a robust crawfish season t his year, and with the E uropean market opened b ack up to them, they could s ee the financial returns a warded them before the r ecession. Though Bahamian fishermen threatened this year to go out in a blaze of glory if they encounter poachers, it is not the pirate battle of old they are hoping for. They a re simply businessmen protecting their livelihood. They are intent on restoring commerce on the seas to whicht hey have been accustomed f or years as were their fathers before them. The fishermen only ask f or help from the authori ties and that justice be carried out on poachers accord ing to the laws of the land. Quiet war waged on Bahamian waters FROM page one

PAGE 17

B y RENALDO D ORSETT S ports Reporter rdorsett@tribunemedia.net IN an effort to further develop the game of basketball and increase the product produced on the floor, the Bahamas Basketball Federation (BBF continued its initiative of improving the skills of coaches across the coun try. T he BBF completed its first annual International Basketball Coaches Clinic this weekend with a myriad of high profile coaches imported for a weekend of tutelage in various aspects of the game. The objectives of the clinic, which featured top college coaches from the US and the Bahamas, is to increase the pool of quali fied coaches in the country in the various leagues and youth development pro grammes, paving the way for their long-term involvement in the sport. Top coaches attend BBFs 1st annual international basketball clinic By RENALDO DORSETT Sports Reporter rdorsett@tribunemedia.net A f ter a long, arduous season marred by injury, setbacks and disappointments, Mark Knowles and h is newest doubles partner Mardy Fish were finally able to hoist a trophy with their first title of the season. Knowles and Fish outlasted Tomas Berdych and Radek Stepanek of the Chez Republic in the finals of the L egg Mason Tennis Classic in Washington D C yesterday, 4-6, 7-6(7 7. The pair last won a doubles title in 2009 at the Regions Morgan Keegan Championships in Memphis, Tenn essee. In a sluggish start to an opening set, the Czech pair held a distinct advan tage in both service and return points w on. Berdych and Stepanek won a total of 19 service points and 14 return points as opposed to 16 and seven respectively won by the BahamianAmerican duo. In the second set, Knowles and Fish trailed early, but sparked a furious comeback with the set and match in jeopardy. Entering the tournament unranked, the road to the title featured several noteworthy opponents, but no ranked t eams as many were upset in the early rounds. A fter several missed opportunities to break service, Knowles and Fisha dvanced to win the first round match when they defeated Marcelo Melo and Bruno Soares of Brazil 5-7, 6-4, 10-4 to advance to the quarterfinals. I n round two, they advanced and defeated Simon Aspelin of Swedena nd Paul Hanley of Australia, 6-4, 7-5 to advance to the semifinals. At 6-5 in the second set, Knowles and Fish fought from behind to gain deuce and eventually won match point. I n the semifinals they won 7-5, 7-5 over Rohan Bopanna of India and Aisam-Ul-Haq Qureshi of Pakistan. At 5-6 in the first set, Bopanna and Qureshi had a 40-15 lead and were well on their way to forcing a tiebreaker. Knowles and Fish rebounded to win the deciding point and the set. In 2009, Knowles lost in the quar terfinals of this event where he and Mahesh Bhupathi lost 16-14 to even-t ual champions Martin Damm of the Czech Republic and Robert Lindstedt of Sweden. Knowles season continues today at t he Rogers Cup, presented by Nation al Bank, in Toronto, Canada. Fish will t ake the week off, therefore Knowles will partner with Stepanek. FOR MORE INFORMATION CALL US TODAY! MastersDegreeAPPLIED SOCIAL SCIENCEwith concentrations inPublic Administration, Urban Education (Reading ClassesbeginAugust23rd,2010 C M Y K C M Y K MONDAY, AUGUST 9, 2010 THETRIBUNE PAGE 12 P AGE 14 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FIRST TITLE: Mark Knowles and Mardy Fish (AP photo on right have won their first title of the season. S S E E E E p p a a g g e e 1 1 4 4 Tyson Gay upsets Bolt in 100m... See page 14 Knowles, Fish win first title of season




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Volume: 106 No.214



SOF
SOF

Quiet war on:
Bahamian
waters
SaaS TC a



Police believe
incidents are
connected

POLICE yesterday had a
major breakthrough in the
recent spate of break-ins at
government institutions.

Four men were in custody
last night assisting police
with their investigations into
the incidents, Supt Stephen
Dean, director of the
National Crime Prevention
Office, said.

Speaking with The Tri-
bune, Supt Dean said that
police are investigating the
possibility that this “crew”
of men were responsible for
at least three of the break-
ins — Immigration, Passport
Office and Magistrate’s
Court No. 9. He confirmed
that police believe that these
incidents are connected.

However, he shot down
rumours circulating in the
capital last week that the
break-ins were the result of
a political conspiracy.

Police said they would
release more information
about these latest develop-

























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ments at a press conference
this morning.

Supt Dean said the media
and the public would be giv-
en an exact break-down of
how the events occurred.

Over the past several
weeks thieves have raided
several government build-
ings, prompting calls for
increased security at gov-
ernment establishments.
Last Friday, thieves raided
the Department of Immi-
gration on Hawkins Hill.
Magistrate’s Court No. 9
was burgled last Saturday
morning when thieves cut
security bars in the court
window to ransack an office
and make an unsuccessful
attempt to steal a safe. Bur-
glars also raided Supreme
Court Senior Justice Jon
Isaacs’ office last month,
stealing personal items from
his chambers and scrawling
the message “The PLP must

SEE page 15

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BAHAMAS EDITION

www.tribune242.com

MONDAY, AUGUST 9, 2010

rour helt aver
Hjovt preax-t

THE young stars of Standing Ovation, this summer's hot musical
movie for tweens and teenagers, performed a special live show in Nas-
sau yesterday, raising $10,000 for the Ranfurly Home for Children.

The performers, who took to the stage in the British Colonial
Hilton’s Governor’s Ballroom, are now challenging 13 persons or
organisations to each match that sum so that a total of $130,000 can
be raised for the home which presently houses 33 boys and girls.

Standing Ovation, which is currently playing at Galleria Cinemas,





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Wo ae ao

_ PLP women urged to
back Grant-Bethel

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

AS A new day dawns in the
Department of Public Prose-
cutions — Jamaican attorney
Vinette Graham-Allen takes
up her position as director of
that department today — PLP
women have been urged to
show greater solidarity and ral-
ly behind embattled former



Deputy Director of Public SUPPORT
Prosecutions Cheryl Grant- FROM MP:
Bethel. Cheryl

Attorney General John Grant-Bethel
Delaney said the new director

is eager to begin reviewing policies, which
debunks rumours that she was reconsidering
the post because of the present conflict in that

department with Mrs Grant-Bethell who expect-

SEE page 15

TEM E TCM M ALLL

is the story of two groups of students wing for a $1 million prize.

"We have heard so much about the Ranfurly Home for Children and
what it has meant over the years to those young people who had no
other place to call home," said Diane Kirman, producer of Kenil-
worth Films, who helped organise the show.

"Local partnerships are important wherever you go," she said,
"but they are so great in a place like the Bahamas where there is an
incredible amount of talent at every turn."

Softball star | New policies
Tyrone Wood | for outstanding |
dies suddenly | student loans

RELATIVES and friends of }
Tyrone Wood were left in }
shock by his sudden death Sun- }

day morning.

Mr Wood, 51, who was }
described by relatives as a very }
“caring” man reportedly died }
in hospital of a heart attack :
around 6.30am on Sunday. The }
father of six worked with the }
Bahamas Investment Authori- ;
ty in the Office of the Prime }

Minister.

“He was playing softball on
Saturday — old timers league. }
He took sick there. He went }

SEE page 11



By NATARIO MCKENZIE
Tribune Staff Reporter

nmckenzie@tribunemedia.net

WHILE the government :
has recouped some of the tens }
of millions of dollars owed in }
defaulted student loans, a }
“considerable amount” is still :
outstanding and new policies }
will now be implemented to }
recover the money, according }
Minister }

to Education
Desmond Bannister.

Mr Bannister who spoke
with The Tribune yesterday }

SEE page 15

All Major Credit Cards Accepted

Weather system Complaints

could become = continue over

tropical storm — disruption to
METEOROLOGISTS are } cellular services

keeping an eye on a low pres- }
sure system in the Atlantic }
which has a 70 per cent chance }
of developing into this sea- }
son’s latest tropical storm }

within the next 36 hours.

However, weather experts }
said they expect a high pres- }
sure ridge will prevent the }
storm system from heading for }

the Bahamas.

At 5pm yesterday, the low i
pressure area was located just }
over 1,000 miles east-north-

east of the Leeward Islands.

SEE page 11



NASSAU AND BAHAMA ISLANDS? LEADING NEWSPAPER



COMPLAINTS of disrup-
tions in some cellular services
continued over the weekend
in the wake of a systems-wide
blackout of communication
services.

The Bahamas Telecommu-
nications Company issued a
statement on Saturday after-
noon indicating that its ser-
vices had been restored and
that the company was carrying
out a verification exercise.

The statement read: “Upon

SEE page 11



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PAGE 2, MONDAY, AUGUST 9, 2010

THE TRIBUNE



i 7 |
Abaco power cuts ‘coming to an end

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

POWER cuts driving
tourists out of Abaco for
months are said to be com-
ing to an end as the Bahamas
Electricity Corporation
brought in three additional
generators last week.

But for business owners
who have suffered hundreds
of thousands of dollars in loss-

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cuts throughout Abaco and
the cays have driven hot and
angry visitors away vowing
never to return.

Bahama Beach Club
developer Craig Roberts
turned away wedding parties
booked at the Treasure Cay
resort during May, June and
July as he warned visitors
their condos would not have
electricity.

“We lost well over
$100,000 just in cancella-
tions,” Mr Roberts said.

“And another $100,000 in
refunds.”

The public relations night-
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power cuts also drove Mr
Roberts to hand out free
cocktails, Kaliks, and steak
dinners, as well as flights to
Nassau and elsewhere so
guests could enjoy a vacation
with electricity.

Marinas at The Jib Room

SEE page 12

Newspaper reporter is
injured in traffic accident

A SENIOR Nassau
Guardian reporter is in stable
condition in hospital after a har-
rowing traffic accident this
weekend.

Juan McCartney, broadcast
and print reporter, was head-
ing north on Prospect Ridge
early Saturday morning when
his SUV hit a tree and flipped
over.

Mr McCartney was taken to
Doctors Hospital by emergency
medical services where he was
rushed into surgery to stop the
bleeding from his injuries.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 5

LOCAL NEWS



Pharmacy owners group sign on to drug plan

AFTER months of negotia-
tions, 12 pharmacies from the
Pharmacy Owners special interest
group signed contracts with the
National Insurance Board (NIB)
on Friday to become providers
for the National Prescription
Drug Plan.

The group made the decision
to join after the NIB agreed to
provide each of the pharmacies
with a one-time $5,000 interest
free advance to assist with initial
inventory and start up costs and
to increase the mark-up on the
third band of drugs costing more
than $25 from 25 per cent to 30
per cent.

Speaking on behalf of the

ie

Pharmacy Owners Group and the
Bahamas Pharmaceutical Asso-
ciation (BPA) Laura Pratt -Charl-
ton, owner of the Prescription
Parlour Pharmacy, said she was
happy to be at the point where
she could say that they are all on
board with the National Pre-
scription Drug Plan.

“We are satisfied that we have
negotiated in good faith and the
Plan will go on. It will be success-
ful and the key thing was that it
was beneficial to all. We know
that the Plan will benefit the pub-
lic in terms of reducing the cost of
their medical care, but we needed
to be sure that it was not to the
detriment of the private pharma-

cies and at this point we are very
satisfied with the negotiations and
the final contract that we are all
here to sign today,” Mrs Pratt-
Charlton said.

Algernon Cargill, director of
NIB, called the contract signing a
“very successful” event.

He emphasised that the part-
nership between the private phar-
macies and NIB will enable Phase
I beneficiaries (Bahamian citizens
over 65, NIB pensioners, NIB
invalids and children) to obtain
prescription medications free-of-
charge from participating phar-
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clinics in the public health system
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THE TRIBUNE



LOCAL NEWS

MONDAY, AUGUST 9, 2010, PAGE 7



Pageant hopefuls work
out ahead of China trip

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - Miss Grand
Bahama Tempestt Stubbs will
go to China next month to com-
pete in the Miss Friendship
International Beauty pageant.

Tempestt unveiled her
wardrobe at a cocktail recep-
tion at the Treasure Bay Casino
on Saturday.

Miss Global Bahamas
Valdeana Bain also unveiled
her wardrobe as she prepares to
compete next month in the
Miss Global International
Pageant in Jamaica.

The Friendship Internation-
al pageant is slated for Sep-
tember 7-28. The Miss Global
International pageant takes
place September 22-28, in Mon-
tego Bay.

Beauty queens from 30
countries around the world will
be competing for the Global
International crown.

Glenn Davis, organiser of

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The reigning Miss Global
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Organisers said they are ask-
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ladies as they represent the
Bahamas internationally.

“We are proud of our beau-








ty queens and have every con-
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Mr Davis said the young
women are working hard
preparing for the pageants. He
said competing is not easy and
takes a lot of dedication and
commitment.

He thanked the YMCA gym
for providing free training ses-
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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 11



LOCAL NEWS

FROM page one

restoration of our network yes-
terday (Friday) at 2.45pm and
due to the scope of the outage,
BTC’s technical teams are cur-
rently conducting verification
exercises to ensure the optimal
quality of service our customers
expect.

“As a part of the exercise,
we are working with our Inter-
national carriers to ensure that
voice and data for our roamers
are back to normal. BTC is sat-
isfied that the cause for this net-
work outage was isolated and
has been addressed.”

The release further stated,
“As promised, we have begun
the process to credit the
accounts of our prepaid cus-
tomers, which is expected to be
completed later today (Satur-
day).” Many prepaid cellular
customers expressed apprecia-
tion for the credit on the com-
pany’s Facebook page, howev-
er many also complained that
they had not received the pur-
ported compensation and were

Cellular phones

still experiencing problems with
their cellular service. Accord-
ing to reports from some of
BTC’s prepaid cellular cus-
tomers, credit was issued in
amounts of $5, $10 and in some
cases even $50.

The company has not indi-
cated how it intends to com-
pensate its postpaid customers
and those who experienced dis-
ruptions in their land line ser-
vices.

BTC’s release stated that the
company apologized for all
inconveniences that the outage
had caused, and assured the
public that “it is taking steps to
ensure that the likelihood of a
recurrence is minimised.”

The company advised that
customers experiencing any
challenges with any of its ser-
vices to contact the BTC’s call
centre at 225-5282.

Calls to BTC’s acting Presi-
dent and CEO Kirk Griffin
were not returned up to press

Weather system could become tropical storm

FROM page one

It had become better-defined over the weekend, and according
to the US National Hurricane Centre (NHC) in Miami, conditions
were expected to become increasingly favourable for a tropical
depression to form over the next few days.

The forecast office in Nassau said the system is currently mov-
ing in a west north-west direction and is expected to follow a sim-
ilar path of Tropical Storm Colin, which yesterday weakened to a
tropical depression as it passed west of Bermuda.

While this developing system is not expected to threaten the
Bahamas, local meteorologists said they are nevertheless moni-
toring it closely in the event conditions should suddenly change and

cause a shift in trajectory.

The forecast office in Nassau is also still watching a weak non-
tropical low pressure area centred a couple hundred miles east-

southeast of Jacksonville, Florida.

The system was producing disorganised showers and thunder-
storms over the Florida peninsula and adjacent waters, the NHC

said.

Meteorologists said there was only a 10 per cent chance of the
system becoming a tropical cyclone within the next 36 hours.

Yesterday morning, islands in the northern Bahamas, particu-
larly Bimini and Grand Bahama, were under warning for severe
thunderstorms. This warning was discontinued later in the day.

However, the Meteorological office said there was a possibili-
ty that the warning could have been reissued yesterday evening.

FROM page one

home and took sick again,’
Bobby Pinder a cousin of the
deceased told The Tribune. Mr
Wood had reportedly com-
plained of chest pains, but had
dismissed them as gas.

Mr Pinder, who describes Mr
Wood as a “big brother,” said,
“Tt’s really a shock to everybody.
He was the type of person who
never said no. He was a caring

>

Tyrone Wood

individual. He cared for every-
one he came into contact with.”
According to Mr Pinder, four
weeks ago, Mr Wood who was
also a reserve police Sergeant,
was graduated from Omega
College with a Bachelor’s
degree in Business Administra-

tion.
¢ SEE STORY PAGE 13.

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time yesterday.

The outage on Friday affect-
ed the company’s system
across the board in The
Bahamas, including its prepaid
cellular, SMS platform, land-
line, and its international

roaming services. Mr Griffin
had previously stated that the
system failed at 2am Friday,
when BTC’s Digital Access
Cross Connect System at their
Main Technical centre on
Poinciana Drive experienced

some difficulties.

He had noted that there was
no act of sabotage involved and
that it was purely a technical
failure.

Just about all of the prepaid
customers were affected,

300,000 in total, and 85,000
landline customers. Reports
indicated that the company saw
some signs of restoration with
their landline, SMS and inter-
national roaming services at
2.45pm Friday.

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THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 15



LOCAL NEWS



FROM page one

was unable to confirm how
much money had been recov-
ered by the government so far,
and based on the current state
of affairs, he could not say
when the loan programme
would be re-implemented.
The government decided to
suspend the Educational Guar-
anteed Loan Programme last
August with almost $70 million
in student loans still owed to
the government. At that time
it was announced that the gov-
ernment had settled some $30.6
million in defaulted loans with
an additional $37.4 million still
in default with The Bank of
The Bahamas, representing a
default rate of 61 per cent.
“There is still a considerable
amount that can be recouped. I
have been approached by a
number of persons who have
said to me that they are having
problems paying. We under-
stand that things are tough and
we are willing to work with
them,” Mr Bannister said. He
noted, however, that there are
also persons who have returned
from school abroad, are gain-

New policies for outstanding student loans



NEW POLICIES:
Desmond Bannister

fully employed and have not
sought to repay their student
loans. According to Mr Ban-
nister, a committee is formu-
lating new policies to deal with
the issue. He noted that one of
the major difficulties in the
process of recouping defaulted

loan payments is getting in con-
tact with those persons who
owe the government.

“We have to find a way to
follow up with them in a coun-
try where we don’t have a tax-
ation system. We have had to
find ways to contact them. We
have to do a lot of follow-ups
and much more,” Mr Bannis-
ter said. He noted that one of
the underlying issues is that per-
sons simply need to be “respon-
sible” and meet their financial
obligations.

Mr Bannister also stated that
“seven million was allocated in
the current budget for scholar-
ships with no obligation to pay.
We feel that the amount is
appropriate.” He noted that the
scholarships are awarded based
on merit. Mr Bannister said
that the $7 million is the largest
amount ever awarded for schol-
arships and far exceeds the
amount given out in student
loans each year.

The Educational Guaranteed
Loan Programme was devel-
oped after the Education Guar-

PLP women urged to back Grant-Bethel

FROM page one

ed to be appointed Director of Public Prosecu-
tions. Mrs Graham-Allen, formerly Director of
Public Prosecutions in Bermuda, is expected to
start her term with a series of orientation meet-
ings to familiarize herself with colleagues and
staff.

Mrs Graham-Allen’s appointment to the post
by the Governor General on the advice of the
Judicial and Legal Services Commission sparked
much controversy within the department with
Mrs Grant-Bethel claiming that she was unlaw-
fully overlooked for the position of Director of
Public Prosecutions.

Recent public dialogue includes a denial by the
Attorney General’s office of a claim that although
Mrs Grant-Bethel has been transferred to the
office of Deputy Law Reform and Revision Com-
missioner she is still operating as the Director of
Public Prosecutions. According to the Attorney
General’s office this claim is not true.

Four held
over govt
break-ins

FROM page one

win the next election, all
FNM must die” across his
door with a drawing of a
gun.

Initial reports that up to
200 case files had disap-
peared were later denied by
court officials.

The court raids followed
a burglary at the Passport
Office on Thompson Boule-
vard on July 8 when thieves
stole a safe containing
$7,000 and got away ina
government car.

The robbers were dis-
guised from head to toe,
wearing masks, jackets and
gloves.

According to sources the
four men are expected to
appear in court today to
answer to charges in con-
nection with the break-ins
at the Passport and Immi-
gration offices and Magis-
trate’s Court No. 9. It is
understood they also will be
questioned about a break-
in at another government
department. However, it is
understood that the
Supreme Court break-in is
being investigated as a sep-
arate matter.

BUY 2 LARGE, CHEESE PIZZAS

According to MP for Fox Hill Fred Mitchell,
PLP women should make public their support of
Mrs Grant-Bethel, not only in her position as
the widow of a decorated PLP, but as a female
professional in the public policy sector.

He said Bahamian women have become the
“backbone” of religious and civic institutions in
the country, but must not limit their progress to
only a “supporting role.”

Speaking to new PLP officers at an induction
ceremony in Fox Hill yesterday, the MP empha-
sized the need for women to become “central to
the political process.”

In addition to greater solidarity on matters of
health care, education and domestic issues, Mr
Mitchell also advised greater attention should
be placed on the fate of little boys in the country.

He said: “Women, mainly, run the house-
holds, and we need to figure out together what we
need to do about this issue. Because what is
going to happen is there will be a disconnect
between women and their male partners, due to
a lack of education and socialization.”

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PAGE 16, MONDAY, AUGUST 9, 2010

THE TRIBUNE



Man in hospital after stabbing

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - A man is in hospital following a stabbing inci-
dent in the Garden Villas area at the weekend, Grand Bahama }

Police reported.

The incident occurred around 11.30pm on Friday when police :
were summoned to the area after receiving reports that a man had }

been badly beaten and was lying on the ground.

ASP Loretta Mackey said officers went to the area to investi-

gate and found a black man bleeding on the ground.

She said the victim was taken by ambulance to the Rand

Memorial Hospital, where he is detained in stable condition.
Investigations are continuing into the matter.

Teens raped in Grand Bahama

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT Police are
appealing to the public to
assist them in their investiga-
tion into the rape of two
teenage girls.

According to reports the
girls were walking on a track
road near East Atlantic Dri-
ve during the early mornings
hours of August 5 when they
were approached from behind
by two masked men.

The culprits, armed with
knives, forced the girls into a

building and raped them. One :
girl was able to escape and}
report the incident to the }

police.

suspects.

One is of light brown com- }
plexion and the other is dark. }
Press liaison officer ASP }
Loretta Mackey is appealing }
to anyone with information }
that can assist the police with }

3107/8, 352-9774/5 or 911.

Officers went to the loca- }
tion and found the second girl.
The victims were taken to hos- }
pital and examined by doctors. }

Police are searching for the }

BAHAMAS ELECTRICITY CORPORATION

NOW

6 EROS

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ue & BILLING CHANGES

Effective July 1st, 2010 The Bahamas Electricity Corporation
(BEC) has introduced new rates for all consumers in New
Providence and the Family Islands. Billings for allconsumers
during this transition period will be carried out as follows:

Bills for the service period May 16th to June 15th with the billing date
July 3rd were mailed out on or around July 10th and were due for
payment on July 23rd at the old rates;



ae

GROUND LEVEL: The acrobatics of Mr Elastic Man thrilled the crowd at the Jamaican Inde-
re ea : pendence celebrations held at Cable Beach at the weekend. The Caribbean country celebrated
their investigations to call 350- ;

: it’s 48th year of Independence yesterday.

FROM page two

and Boat Harbour in Marsh Harbour have
sat empty during what should be the busiest
time of the year, as boats can’t power up at the
docks, and visitors are said to have been
departing in droves.

“People leaving are angry,” Mr Roberts
said.

“They have said they will never come back,
they are going to say to people they know
don’t go to Treasure Cay, and we rely on word
of mouth referrals.”

Marsh Harbour jeweller Percival Pinder
added: “This is 1,000 times worse than it has
ever been.

“Tourists are leaving, they say they are not
coming back, and they are going to tell their
friends how bad it has been. BEC is driving
them away and it’s destroying tourism.

“It’s destroying people’s businesses,
destroying the economy of Abaco and what
BEC has done will take a long time to get
back.”

A Marsh Harbour resident started keeping
a record of the long hours without power in
the Pelican Shores area in May as the power
was out for 28 hours over five days at the end
of that month, more than 93 hours over 24
days in June, and for more than 107 hours

DRESSED FOR SUCCESS

é Major/Tribune staff

=
2
Lu

Braneka Bassett unveiled her wardrobe for
the upcoming Miss Universe Pageant on
Saturday. Braneka, 20, will be one of the
many contestants from around the world
who will be vying for the crown at the Miss
Universe Pageant to be held at the Man-
dalay Bay Events Centre in Las Vegas on
August 23. Last year, the international
pageant was hosted at Atlantis, Paradise
Island, and put the beauty of the Bahama
islands in the spotlight.



Abaco power cuts

over 20 days in July.

Hope Town in Elbow Cay, Treasure Cay
and other areas of Marsh Harbour have
recorded similar periods without power.

Around 250 Abaconians protested in front
of BEC offices two weeks ago and Prime Min-
ister Hubert Ingraham showed he heard their
call when he criticised BEC on a visit to Marsh
Harbour in July.

The Marsh Harbour plant, which is not
capable of supplying Abaco with all of the
power it needs, has now been boosted by
around 4.2MW as two rented generators and
a mobile generator arrived last week. BEC
chairman Michael Moss said this will allow
Abaco to have a consistent power supply until
the new plant in Wilson City is up and running.

Mr Moss maintains BEC had expected the
new Wilson City power plant to be up and
running by April or May, and therefore the
Marsh Harbour plant did not receive the main-
tenance attention it needed.

A Marsh Harbour woman said: “I believe
this may be the end of our power woes, but it’s
August now and our tourists have already
gone back; it’s really hurt our economy.

“For our tourism it’s too little too late."

Bills for the service period June 15th to June 30th were estimated with
a billing date of July 15th at the old rates. The bills for this abbreviated
period are due for payment on August 6th;

The new rate comes into effect for the service period commencing
July ist, 2010. Meter readings for this service period will take place
at the end of July, and bills will be sent out in mid-August. Payment for
this period will become due on September 6th, 2010.

ns

LET US UPGRADE

Commercial accounts that were billed at the end of June at the old rates
will receive their next bill at the end of July at the new rates.

The new rates as of July 1st, 2010 will be as follows:

Le VGis

RESIDENTIAL

0-200 units per month

201-800 units per month

Remaining units

Minimum monthly charge

All units per month

10.95 cents per unit
11.95 cents per unit
14.95 cents per unit
$5.00

COMMERCIAL

Minimum monthly charge

15.00 cents per unit
$10.00

GENERAL SERVICE

UNIT CHARGE

MONTHLY BILLS

Demand charge per month
0-900,000 units per month
Remaining units per month
Minimum monthly charge

KVA CHARGE
$11.36 per KVA
8.70 cents per unit
6.20 cents per unit
$ 568.00

TEMPORARY SUPPLIES

16.38 cents per unit $20.00 connection fee $10.00 per month Meter Rental

(variable per unit to include total cost of fuel)
SeeciLEERNICEs Upgrade your Internet Service with Cable Bahamas & Win!!!
Special Reading, Check Reading, Fuse
Replacement
Meter Test — Minimum charge
Visit with intent to disconnect

Residential Consumer
Commercial Consumer
Reconnection Fee
Returned Cheque Fee

yee Everyone receives 3 months Internet subscription absolutely FREE.

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




WEDNESDAY,

THE TRIBUNE

uSInesSsS

O,C:1.O 8 ER Joel

2008

—
BREITLING



| SECTION B ¢ business@tribunemedia.net

Direct credit for all
employers imminent

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

irect credit for

employers is immi-

nent, the general

manager of the

Automated Clearing
House told Tribune Business yes-
terday, saying the system has been
“tested and re-tested” and is ready
for the seven clearing banks when
they have completed their prepara-
tions.

Brian Smith said the clearing
banks are making certain they have
all their “ducks in a row” before giv-
ing the final nod to the Automated
Clearing House (ACH) for direct
deposits to be available to business-
es.

This service will give employers
the ability to electronically deposit
their payrolls directly into employ-
ees’ bank accounts regardless of
which financial institution they use.

“It’s been tested and retested,”
said Mr Smith.

“We are waiting for the go-ahead
from all the clearing banks. Testing

has been done and so far it is run-
ning smoothly.”

This change in payment process
will mean a significant decrease in
the use of paper for large employers
such as government, which issues
thousands of paper cheques.

Four large employers were assist-
ing in testing the direct deposit sys-
tem that will allow employers to pay
their employees without those phys-
ical cheques, no matter what bank
manages their account.

Mr Smith said on test runs, banks
have been able to receive transac-
tions and post them as long as the
correct bank account numbers are
provided to the employer’s bank.

According to him, the process
requires employers to provide their
financial firms with the account num-
bers of their employees, after which
the ACH receives the routing infor-
mation for each employee in order
for funds to be transferred to the
receiver's bank.

It is not clear as yet whether the
clearing banks will require employ-
ers to hold a checking or savings
account in order to receive payments
electronically.



SYSTEM READY: Brian Smith.

According to him, the most impor-
tant part of the process is to have

General manager Brian
Smith says Automated
Clearing House ‘waiting
for the go-ahead from all
the clearing banks’

the account number, or routing
information correct in order for the
transaction to go through without a
hitch.

While direct credit seems to be
only weeks away now, Mr Smith said
direct debit could still be a few more
months away for account holders.

According to him, direct credit
will allow bank customers to transfer
money from account to account on
the Internet and could usher in
greater use of Internet bill payment

systems.

However, he said direct credit is
far more complicated and requires
the institution to bolster its legal
position, as nothing like this has
been done in the Bahamas before.

Mr Smith said each financial insti-
tution is at a different state of readi-
ness for Internet banking to occur,
but “we would like that to come on
stream as quickly as possible.”

“Hopefully there will be more big
news later on in the year,” he said.

Chiropractic centre first of its kind in the west

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

RELIEF has finally come
to Western New Providence
residents needing convenient
chiropractor services, with the

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

WESTERN New Provi-
dence is fast becoming a self-
sustaining mecca with
planned shopping centres and
communities. One of the
newest communities, Serenity,
opened its gates to prospec-
tive buyers recently, touting
“affordable luxury real
estate”.

John Clarke, Sales and
Marketing director for Devel-
oper Kings Realty, said Seren-
ity’s soft opening attracted a
mass of interest in the new
subdivision.

Serenity is a private resi-
dential development near
Albany and its principals
promise interested buyers a
perfect opportunity for an
affordable real estate invest-
ment.

According to the develop-
ers, each model home is
designed specifically to cap-
ture the essence of island liv-
ing and honours the spirit and
style of traditional Bahamian
architecture.

“Its characteristics will
include traditional white
columns, verandah railings,
pastel walls and lovely decks
and porches, all the elements
to enjoy sunsets and relaxed,
balmy evenings with friends
and family,” said a recent
press release from Kings
Realty. “Finding a home at
Serenity will enhance your
lifestyle.”

The development will
include a club house, gated
entries, adult and children’s
pools, tennis and basketball
courts, numerous parks, recre-
ation and fitness centre, nurs-
eries, a library and 24-hour
security.

“Serenity provides you the
opportunity to be part of the
exciting transformation
underway in the west, an
opportunity you cannot afford
to miss,” the release contin-
ued.

opening of A Better Back
Chiropractic Centre.
Principal of the firm, Dr
Jacqueline Lightbourn, said
her business is the first of its
kind in the West and added
that despite setbacks due to
the economy, it opens today

New Providence Develop-
ment Company is attempting
to “masterplan” the western
area of the island in a way
that was “sensitive” to envi-
ronmental, transportation,
proper planning, community
and business needs. "We
struggle to bring quality plan-
ning to our lands," Mr Dug-
gan said.

With AML _~ Foods’
Solomon’s Fresh Market,
modeled on the US-based
Whole Foods chain, already
secured as the anchor tenant
in a Town Centre.

T. Rhys Duggan, New
Providence Development
Company president and chief
executive, told Tribune Busi-
ness recently that the Town
Centre’s 64,000 square foot
space was split 50/50 between
office and retail. Professionals
such as doctors, lawyers and
accountants had already
expressed interest in leasing
the office space.

Describing New Providence
Development Company as
the largest private landown-
er in New Providence, with
some 2,300-2,400 acres of
undeveloped land in the west
of the island, Mr Duggan said
holdings represented “one of
the last opportunities on this
island to provide housing for
Bahamians that is more
affordable.”

More than 3,000 lots were
in development in western
New Providence, Mr Duggan
added, many of those in real
estate projects being carried
out by Bahamians. He gave
as examples of this the Lyford
Hills development, owned by
Tennyson Wells and his
Bahamian investor group, and
Serenity.

Lots in western New Prov-
idence were being sold at
price points ranging from
$70,000 to $170,000, and Mr
Duggan said: “Land is such a
diminishing commodity that
we are trying to pay a lot of
attention to how we develop
the 2,400 acres we have left.”

for business.

According to Dr Light-
bourn, she is hopeful that the
economy will soon rebound
and that the business, which
she financed out-of-pocket,
will get a quick jump-start.

She said now was an excel-
lent time to begin her busi-
ness, as the perfect location
presented to her became
available.

And though she was pro-
gressive in promoting the
business — putting herself
into the 2010 phone book
months before opening — she
was still not quite certain the
business would come to

fruition.

However, the two-storey
building through Eaton
Avenue just off West Bay
Street, she said turned out to
be the perfect location for her
business after months of
searching.

When it receives its first
customers this week, A Better
Back will be performing chi-
ropractic adjustments, soft tis-
sue and myofacial release,
physical therapy: electrical
muscle stimulation and hot
and cold treatments.

Dr Lightbourn practised for
five years with another firm
before deciding to go out on

her own to open a centre
where it seemed to be needed
— in western New Provi-
dence.

“Six other businesses are
mostly central,” she said.

“Tm the only one out
West.”

According to her, she
received her Doctorate in
Chiropractic and Bachelor’s
in Life Science from Logan
Chiropractic College just out-
side of St. Louis, Missouri.

Last Friday she held a
grand opening and ribbon cut-
ting ceremony for A Better
Back at the Cable Beach loca-
tion.

BREITLING

TER a ee se Ee

Say cag a gat 8

onal angina: Br
aut

WWW BREITLING, com

| 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.




PAGE 2B, MONDAY, AUGUST 9, 2010

THE TRIBUNE



=
Hawaii company aims to harvest oil from algae

KAILUA-KONA, Hawaii
(AP) — A Big Island compa-
ny aims to harvest oil from
algae on a commercial scale
as an alternative to drilling
for petroleum.

"Through this, we can pro-
vide a solution to a lot of the
world's problems,” said
Gabriel de Scheemaker, CEO
of Cellana, a joint-venture
between Royal Dutch Shell
and HR BioPetroleum.

Cellana has been testing
how to get the most oil from
algae at the lowest cost since
it was founded in 2007.

To grow algae, researchers
put a small amount of algae in
seawater and expose it to the
sun, some nutrients and car-
bon dioxide.

The dense algae growth is
moved to a larger growing
container, and then open
ponds. The oil-heavy algae
sinks to the bottom of the
ponds, and researchers
remove water and extract oil
from the algae.

This process could be done
on a larger scale to create bio-
fuel, but it would be expen-
sive.

"A lot of the work is reduc-
ing the cost," said Cellana
CEO Gabriel de Scheemaker.

Cellana researchers are try-
ing smarter designs to reduce
the expense. They're also
attempting to increase their
yields, or the amount of algae
they're able to get per square



BRIGHT IDEA: Sea water is pumped into algae ponds where it is circulated with paddlewheels to encourage algae growth at a Cellana research
facility in Kailua-Kona, Hawaii. The Big Island company aims to harvest oil from algae on a commercial scale as an alternative to drilling for
petroleum.

(AP Photo)

research.
The company may also be
able to get revenue from a

meter per day, to cut costs.
The project is attracting sig-
nificant financial support. The

US Department of Energy
recently awarded Cellana $9
million to continue its

byproduct of the process, as
the protein and carbohydrates
left after oil is extracted may

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be turned into fish meal or
other animal feed.

The company plans to test
different algae strains to see
which would provide the best
oil for biofuel.

The algae currently being
grown on the site is all native
to Hawaii, said Cellana oper-
ations manager Avery
Kramer, but the company
may bring in other algae
strains with agriculture
department approval.

The joint venture was
formed after Shell saw a
research article HR BioPe-
troleum's chief science offi-
cer published about the
potential of obtaining oil from
algae, Kramer said.

HR BioPetroleum offers
expertise growing algae to the
joint venture while Shell
brings experience extracting
oil.

Cellana’s pilot facility at the
Natural Energy Laboratory
in Kailua-Kona now employs
60 people, half of whom are
from Hawaii.

West Hawaii, with abun-
dant sunlight, consistent
weather and a reputation as a
major algae farming hub, was
a logical place for testing
algae-growing and harvesting
techniques, de Scheemaker
said.

The company takes its
name from the genus to which
opihi, a small limpet native to
Hawaii, belongs.

. Kids Stay, Play & Eat Free

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- Junior Suites with King-size or two double beds
- All-new Flat Screen TVs with cable programming
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Limited-time offer, reserve today. Call 242-363-3680

a LSM Tem ICOM TMI CClIMe lo Melee oclile UMA ite VAM Tm TRCIMMITCLIAC Meee Cite ANUSARA CescaelCMsiianh
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM

standard room category and subject to availability Cancellations must be received 48 hours prior to arrival or a I-night penalty will apply.


THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 3B



Little relief seen for
state and local layoffs

By JEANNINE AVERSA
AP Economics Writer

WASHINGTON (AP) —
An injection of $26 billion in
federal aid won't be enough
to save the jobs of more than a
half million people who work
for state and local govern-
ments or for companies that
do business with them.

Economists say state and
local budget gaps are so vast
that up to 30,000 public jobs
will be cut each month at least
through year's end. And pri-
vate companies that contract
with states and localities are
likely to cut even more deeply.

All told, 600,000 to 700,000
jobs will likely vanish over the
next 12 months at states, local-
ities, private contractors and
other businesses that depend
on government business,
according to the Center on
Budget and Policy Priorities, a
Washington think tank.

The July unemployment
report, released Friday,
showed state and local gov-
ernments cut 48,000 jobs last
month — the most in a year.

State and local governments
already have shed 169,000 jobs
this year. And since their peak
in 2008, state and local pay-
rolls have shrunk by 316,000;
that figure does not include
private sector jobs tied to gov-
ernment spending.

Federal Reserve Chairman
Ben Bernanke warned last
week that cuts in state and
local spending and jobs were
helping to slow the economic
recovery. And two-thirds of
economists who responded to
the latest quarterly AP Econ-
omy Survey said they thought
states’ budget crises posed a
significant or severe threat to
the economy.

When states and localities
slash services and jobs, so do
companies that contract with
those governments to build
school buildings or repair
bridges. And the cutbacks rip-
ple through the national econ-
omy, causing individuals to
spend less, too. Full-time state

and local government work-
ers earn an average of $82,800
in wages and benefits annual-
ly, according to Labour
Department data.

The drop in state and local
government spending in the
first three months of this year
shaved about half a percent-
age point off national eco-
nomic activity.

The cuts stem from shrink-
ing state income and tax rev-
enue resulting from the reces-
sion. Total state revenue fell
11 per cent from fiscal year
2008, when the recession
began, to fiscal 2010, the
National Association of State
Budget Officers has estimated.

In Colorado Springs, the
city has turned off thousands
of streetlights to save $1.2 mil-
lion a year, The Gazette news-
paper of Colorado Springs
reported. In Pittsburgh, the
transit authority unveiled a
plan last month to reduce ser-
vice and at least 500 of its
2,700 jobs, according to the
Pittsburgh Post-Gazette.

An expected infusion of
federal aid will help blunt the
damage. The Senate last week
approved a $26 billion pack-
age of aid to states in hopes of
saving the jobs of teachers and
other public workers.
Approval by the House is

expected this week.

"Without the money, I
would have to say the worst
of the layoffs would be yet to
come,” says Brian Sigritz,
director of state fiscal studies
at the National Association of
State Budget Officers. "It's
definitely a help.”

But even with the aid, states
face a collective gap of $62.3
billion in the 2011 budget
year, which started July 1 for
most states. An additional
$53.4 billion shortfall is
expected in the 2012 fiscal
year, Sigritz says.

Unlike the federal govern-
ment, every state but Vermont
requires a balanced budget.
That's why the pace of both
service cuts and layoffs is
expected to persist. The cuts
are occurring even while the
struggling economy has forced
more people to turn to states
for health care and other
social services.

The just-ended 2010 budget
year "presented the most dif-
ficult challenge for states’
financial management since
the Great Depression,” the
budget officers’ association
says. States’ spending and rev-
enue aren't likely to return to
pre-recession levels until fiscal
year 2012 or later, the group
says.

( C2} ' AE COLLEGE OF THE BAHAMAS

Sa

Visdr oor webaie of wench eda be

NOTICE

The College of The Bahamas applicants
for Pall 2000 may collect letters on the

status of their
Tuesday,

August 11th,

College of The

applications between
Aucust TOth and Wednesday,
2010 from the Office of
Admissions, Portia smith Building,
Bahamas.

The

Oakes Field

Campus, between the hours of 9:00a.m.,

and 5:00p.m.



Do You Have Cancer?

Is There A History Of Cancer In Your Family?

Do You Want To Learn How To Avoid
This Deadly Disease?

Sidle-Swisecland
Are you the best closer in The
Bahamas?

If so, then we have a position for you.

BUT...you must motivate_a_sales_team, enjoy talking to people,
be a good listener and most important have _a_positive attitude.

Little Switzerland isa company with 54 years experience in luxury retailing.
We offer our customers the most prestigious lines in the industry, including
Breitling, Omega, TAG Heuer, John Hardy, Roberto Coin and others.

We have an immediate opening for the position of Sales Manager in
our Bay Street, Nassau location with an attractive and competitive

compensation plan.
Qualifications include:

Extensive Watch and Jewelry retail floor management experience
Proven track record of closing sales.

Qutgoing personality with excellent people skills

Ability to work in a team and contribute to the success of the store.

Proven management skills in retail stores.
Trustworthy, dependable & willing to work flexible hours.

Responsibilities include:

Motivate the Sales Consultants with daily goals.

Utilize all tools, including Private Label Credit Card, to drive sales in a
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Conduct on the floor and classroom training programs focused on
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knowledge, consultative selling and operational standards.
Coach sales consultants to maximize their potential.

Drive sales to exceed goals.

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Work in a team and contribute to the success of the store.

Only the BEST need apply.
If you have the ability, focus and drive to succeed forward your resume/CV or call:

William Carey, Senior Store Manager and/or Franck Saragossi, Director of

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Email:wearey@nxpco.com

and/or

fsaragossi@nxpco.com
Tel: 242-322-8521

Bank of The Bahamas

INTERNATIONAL



GOVERNMENT GUARANTEED ADVANCED
EDUCATION LOAN SCHEME

n collaboration with The Education Guaranteed Fund Loan Program of the Ministry of Education, Bank of



The Bahamas Intemational is pleased to advese that the cheque disbursement for ALL students in
the Loan Program will take place at Holy Trinity Activity Centre, Stapledon
Gardens, beginning Monday, August 9th to Friday, August 13", 2010 fom

9:00 a.m. to 3:00 p.m, 2¢ iollows:












World Renowned And One Of Britain's
Foremost Cancer Specialist
Is Inviting The General Public To

A Free Public Lecture On Cancer
And Will Be Answering Your Questions
About This Fatal Disease.

Saturday August 14th, 2010

11:00 am A-C Monday, August 9, 2010

Cancer Society Of The Bahamas D-| Tuesday, August 10, 2010
East Terrace Centreville Jeu Wednesday, August 11, 2040

Nassau, Bahamas
N-R Thursday, August 12, 2010

ONE (1) WEEK ONLY!



Professor Karol Sikora
Director of Medical Oncology,

The Cancer Centre, Bahamas

And
: Tel: 242-502-9610
ctor, Cance rsUK,
—_ —— RSVP - Space Is Limited 5-Y Friday, August 13, 2010

(Registration Is Free)




TIME: 9:00 a.m, - 3:00 p.m.
PLACE: Holy Trinity Activity Centre
Stapledon Gardens

The Cancer Centre, Bahamas
Will Be Hosting A
Cancer Clinic

With Professor Dr. Karol Sikora
To Examine And Provide
Consultation To Persons With Cancer
Monday, August 16th, 2010
Telephone: 242-502-9610 (For An Appointment)
Visit Us (a) www.thecancercentre.com

THE CANCER CENTRE

BAHAMAS

Returning Students AND Guarantors should be present and must bring relevant
identification, (valid Passport and National Insurance Card),

« Students must ensure that the Ministry of Education is in receipt of a current transcript.

PLEASE NOTE: DISBURSEMENTS MADE AT
THE BANK WILL INCUR A PENALTY FEE!

Lc The Medics! Pavilion Bokomas

aso, | he Bobsmas
Phowe: (247) 502-41 ax: (247) 502-619



www thecancercentre.com

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


PAGE 4B, MONDAY, AUGUST 9, 2010

THE TRIBUNE



Visit ovr website af wewcob,eda. iy



The public is advised that The College
of The Bahamas will be closed for one
day on Tuesday, 17th August, 2010, as
all staff will be taking part in the staff
day.

The College will resume normal
business hours on

Wednesday, 18th August, 2010.

( A) THE COLLEGE OF THE BAHAMAS S m all C a
=

ps losing their

edge over blue chips

By DAVE CARPENTER
AP Personal Finance
Writer

CHICAGO (AP) — Could
David be losing his historical
edge over Goliath in the stock
market? Investors are start-
ing to wonder.

Small-cap stocks have lost

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customer service that would exceed their expectations.

Position Requirements:

Must have completed factory training and certification by BREITLING and WOSTEP or

equivalent.

Strong communication skills and ability to work cooperatively with others.

Good oral and written comprehension of the English language.

To apply, please email or fax your CV/resume with a cover letter to:
E-mail: Thallas@nxpco.com Of wearey@nuxpco.com

Fax: (242) 356-9860
Mail: William Carey
Little Switzerland
PO Box N-7116
Nassau, Bahamas











BIS

Money at Work



ROYAL FIDELITY

BISX LISTED & TRADED SECURITIES AS OF:

FRIDAY, 6 AUGUST 2010
BISX ALL SHARE INDEX: CLOSE 1,491.49 | CHG- 0.40 | %CHG -0.03 | YTD -73.89 | YTD % -4.72
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%

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







52wk-Low Security
AML Foods Limited

Bahamas Property Fund
5.00 Bank of Bahamas 5.00
0.25 Benchmark 0.27
3.15 Bahamas Waste 3.15
2.14 Fidelity Bank 2.17
9.62 Cable Bahamas 11.11
2.50 Colina Holdings 2.50
5.00 Commonwealth Bank ($1) 6.04
2.23. Consolidated Water BDRs 2.36
1.60 Doctor's Hospital 1.95
5.94 Famguard 6.07
8.75 — Finco 8.90
9.50 — FirstCaribbean Bank 9.74
3.75 Focol (S) 5.03
1.00 Focol Class B Preference 1.00
5.00 ICD Utilities 5.59
9.95 J. S. Johnson 9.95
10.00 Premier Real Estate 10.00

Previous Close Today's Close

Change Daily Vol.
0.00
0.00
5.00 0.00
0.25 -0.02
3.15 0.00
2.17 0.00
11.11 0.00
2.50 0.00
6.04 0.00
2.27 -0.09
1.90 -0.05
6.07 0.00
8.90 0.00
9.74 0.00
5.03 0.00
1.00 0.00
5.59 0.00
9.95 0.00
10.00 0.00

BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)

52wk-Hi 52wk-Low

99.46

100.00
100.00
100.00
100.00

Security

Bahamas Note 6.95 (2029) BAH29
Fidelity Bank Note 17 (Series A) + FBB17
Fidelity Bank Note 22 (Series B) + FBB22
Fidelity Bank Note 13 (Series C) + FBB13
Fidelity Bank Note 15 (Series D) + FBB15

Symbol

Last Sale

Change
99.46 0.00
100.00 0.00
100.00 0.00
100.00 0.00
100.00 0.00

Daily Vol.

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

52wk-Low Symbol Bid
7.92 Bahamas Supermarkets 9.42
6.00 Caribbean Crossings (Pref) 2.00
0.40 RND Holdings 0.35

Ask $
10.42

Last Prine
14.00

6.25 4.00

0.40 0.55

Daily Wei.

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

29.00 ABDAB 30.13
0.40 RND Holdings 0.45

31.59

29.00
0.55 0.55

BISX Listed Mutual Funds

52wk-Low
1.4387
2.8266
1.4817

Fund Name NAV
CFAL Bond Fund 1.4825
CFAL MSI Preferred Fund 2.9101
CFAL Money Market Fund 1.5451
2.8522 Royal Fidelity Bahamas G & | Fund 2.8522
13.0484 Royal Fidelity Prime Income Fund 13.4110
101.6693 CFAL Global Bond Fund 109.3929
93.1998 CFAL Global Equity Fund 100.1833
1.0000 FG Financial Preferred Income Fund 1.1177
1.0000 FG Financial Growth Fund 1.0785
1.0000 FG Financial Diversified Fund 1.1162
9.1005 Royal Fidelity Bah Int! Investment Fund Principal 9.5439
Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
9.3299 — Royal Fidelity Bah Int! Investment Fund Principal
Protected TIGRS, Series 3
4.8105 — Royal Fidelity Int'l Fund - Equities Sub Fund

1.4825
2.9265
1.5451
3.2025
13.6388
109.3929
105.7795
1.1177
1.0917
1.1162
9.5795

11.2361 10.0344



10.0000 9.3299



7.9664 7.3073

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

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

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

S$) - 4-for-1 Stock Split - Effective Date 8/8/2007

$1) - 3-for-1 Stock Split - Effective Date 7/11/2007



YTD%

Last 12 Months % NAV 3MTH
3.04 1.460225
0.80 2.902023
2.52 1.528885

-8.49

0.33
5.20 107.570620

-1.52 105.779543

2.52
0.98
2.34
2.16

6.84
6.70 6.70

-5.31 16.22

MARKET TERMS

YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity

Ask § - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company's reported earnings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

EPS $

-0.877

-0.003

6.95%

Prime + 1.75%

Prime + 1.75%

EPS $
-2.945

their sizzle in recent months,
falling 12 per cent and under-
performing blue chips since
the market's powerful 13-
month rally ended in April.

Such price swings are hard-
ly unusual, and that's only
part of the evidence that sug-
gests their latest run of domi-
nance over large-company
stocks is ending. Some experts
contend they are as over-
priced as they've been in
three decades.

A new study by BNY Mel-
lon Beta Management high-
lights small caps’ vulnerabili-
ty. Investors, the study found,
are no longer compensated
for the extra risks they take
buying small stocks.

"Right now there's no ben-
efit to investing in small caps
versus large caps," says Mark
Keleher, CEO of the San
Francisco-based investment
firm. "The optimum time to
invest in small caps may have
passed."

Investors apparently are
reaching the same conclusion.

US small-cap funds saw
outflows of $822 million for
the week that ended Wednes-
day, according to EPFR
Global, a Boston-based firm
that tracks global fund flow
data. That tipped fund flows
into negative territory for
2010. Less than four months
after the year-to-date total
reached $6.3 billion in inflows,
it is now at $689.8 million in
outflows.

Melissa Wedel, a research
analyst at Litman/Gregory
Asset Management in Orin-
da, Calif., has noticed a flight
to higher-quality blue chip
stocks from small caps among
fund managers.

"Small caps are not an area
one would want to be in too
heavily right now,” she says,
citing their comparatively

FG CAPITAL

BROKERAGE & ADVISORY SERVICES

Ze

bs

COLONIAL

Div $ P/E
0.250
0.050
0.598

0.168
0.055
1.408
0.511
0.460
0.111
0.627

0.168
0.720
0.366
0.000
0.407
0.952
0.156 64.1



Interest Maturity

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

Div
0.000 N/M
0.480 N/M
0.000 256.6

0.000
0.001

4.540
0.002

0.000 9.03
0.000 261.90

NAV 6MTH
1.438700
2.906145
1.512735

NAV Date

103.987340
101.725415





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

higher valuations.

But the notion of small caps
as laggards runs counter to
what every student of invest-
ing learns early on. Small
stocks as a group have out-
performed large ones for at
least three-quarters of a cen-
tury.

Small-cap stocks, or those
with market capitalizations
between $160 million and $2
billion, have netted investors
an average two per cent high-
er annualized returns than
large caps since 1927, accord-
ing to Ibbotson Associates.

The performance gap
widened dramatically after
2000. The Russell 2000 index
of smaller companies has
beaten the Standard & Poor's
500 index, a common yard-
stick for large caps, in every
year of the past decade except
2007. It's up 29 per cent from
10 years ago, compared with a
23 per cent drop for the S&P.

Investment

A $10,000 investment in the
Russell 2000 at the start of
2000 would have grown to
$14,802 as of July 31, assum-
ing all distributions reinvest-
ed, according to Morningstar
Inc. The same amount put
into the S&P would have
shrunk to $9,080.

Small has proven better
than big over the long run for
several reasons.

Small companies can react
faster to changes in the busi-
ness environment and grow
faster. They thrive when inter-
est rates are low and financing
their growth doesn't cost as
much. The comparative lack
of information also means
there are more opportunities
for small stocks to be mis-
priced.

More recently, they have
benefited by having limited
exposure to Europe. And
small caps tend to lead the
way during economic recoy-
eries; they've outperformed
large caps in the first year fol-
lowing each of the last nine
recessions.

What's changed about their
outlook is partly a question
of timing. If the recession end-
ed just over a year ago, as
most economists think, that
means small companies’ post-
recession resurgence could be

largely over.

Some analysts also say the
nearly unprecedented 118 per
cent run-up small-cap stocks
enjoyed from March 2009 to
late April 2010 pumped their
valuations too much.

The BNY Mellon study
forecast approximately equal
returns for small and large
caps over the next three years
— a period during which
interest rates are expected to
rise. This is the first time since
1983, it said, that investors get
no premium for sinking mon-
ey into companies that have
less liquidity and higher trans-
action costs.

But small cap boosters say
concerns about the short term
are overstated. Bill McVail,
small-cap growth portfolio
manager at Turner Invest-
ment Partners in Berwyn, Pa.,
says smaller companies are
poised to expand as soon as
employment and consumer
sentiment turn around.

"Yes, they're a little more
expensive than the S&P, but
their earnings growth is seem-
ingly higher” than large caps’,
he says.

Chris Retzler, portfolio
manager for the Needham
Small Cap Growth Fund, says
long-term investors still can
find bargains. Small-cap
health care stocks, he says, for
instance, have been avoided
because of ongoing uncer-
tainty over health care
reforms. So they're a great
buying opportunity.

Even doubters aren't say-
ing small stocks are a terrible
investment. It's just that
they're no longer the near-
automatic winner over large
caps that they've long been.

Dirk Van Dijk, senior equi-
ty strategist for Zacks Invest-
ment Research in Chicago, is
among those who now lean
toward large caps that are
now loaded with cash, strong
balance sheets and strong
credit.

"There are really good
investment opportunities in
good, stable, safe companies,”
he says, citing Microsoft Corp.
as a prominent example.
"Why take the risk in compa-
nies that you have less infor-
mation about, that have less
access to capital and are prob-
ably dependent on one or two
major customers?"

NOTICE

NOTICE is hereby given that ALIDIEU BRAZELA of GENERAL
DELIVERY, LOWER BOGUE, ELEUTHERA, 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 9th day of August, 2010 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Nassau, Bahamas.

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT
(No 46 of 2000)

AIRLINE BROKING SERVICES LIMITED
IBC N° 144,745 B
(In Voluntary Liquidation)

NOTICE is hereby given that in accordance with Section 138
of the International Business Companies Act No. 46 of 2000,
AIRLINE BROKING SERVICES LIMITED is in Dissolution.

Any person having a Claim against the above-named com-
pany is required on or before the September 30, 2010 to send
their name, address and particulars of the debt or claim to the
Liquidator of the Company, or in default thereof they may be
excluded from the benefit of any distribution made before such

claim is approved.

REDCORN CONSULTANTS LIMITED is the Liquidator.

Py
i

ht

Liduidatdr
I

To advertise in 7he
gi Tee ed ES
in circulation, just call
002-2371 totlay!


THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 5B





What recession? US outdoor
gear makers ‘buoyant’

By PAUL FOY
AP Business Writer

SALT LAKE CITY (AP)
— Despite an economy ham-
mered by recession, sales have
doubled every year for a tiny
New Hampshire company
that makes tents of all things.
But these aren't just any tents.
They are for outdoor enthu-
siasts — not families forced
out by foreclosures — and
they are definitely not cheap
tents.

Nashua-based NEMO
Equipment Inc. makes innov-
ative mountaineering tents
that stand up on their own
without poles, using inflatable
air bladders instead for sup-
port against the stiffest winds.

The innovative startup with
only 13 employees is but one
success story in the outdoor
gear market that has shown
remarkable resilience against
economic headwinds.

The more than 4,000 out-
door equipment manufactur-
ers that gathered in Salt Lake
City for a trade show last
week weren't just optimistic.
Many sounded giddy.

"People are buying tents
and sleeping bags and they're
going camping,” said Kate
Ketschek, NEMO's market-
ing director. "When times get
tough, people get back to
their roots."

The industry was spooked
last year when the economy
tanked, but it held its own and
is rebounding fast. The reces-
sion hardly nicked it — sales
were down 2 percent in 2009
but are rising at a rate of 6
percent, said Frank
Hugelmeyer, president and
CEO of the Outdoor Industry
Association.

It helps that buyers of near-
ly $50 billion worth of out-
door gear are, by and large,

ston

> Aeetieitat rr

= dar



WHAT RECESSION?: People walk around exhibitors during the Outdoor Retailer Summer Market at the Salt Palace Convention Center in Salt

Lake City, Utah.

discriminating, and that many
brands like The North Face
or Mountain Hardwear have
moved into the fashion main-
stream.

Many outdoor consumers
will spend extra for the best
products even if it means cut-
ting back on other purchases,
said Joe Mc Swiney, president
of Seattle-based Cascade
Designs, a diversified manu-
facturer of camping gear.

"We're doing fabulously,”
said Mc Swiney, who said his
private company doesn't
release sales figures but is

"experiencing strong growth."

"This industry has a buoy-
ancy,” he added. Outdoor
recreation is "the kind of
thing people fall back on
when they don't have a lot of
money to spend on other
things.”

Optimism

The optimism was widely
shared on the aisles of the
Outdoor Retailer show, held
twice a year in Salt Lake City.
Organizers just signed up to
keep it here for several more

difites

MAAR BLE & GCRANITE SPECIALISTS

Tiles

Travertines
Marbles
Glass
Mosaics

™1$60-$100/sqiLw”
ag lisstalled ani

3; "ag
Contracts
Cleaning

#91 Wulff Road
P.O.Box N-4111
Nassau, Bahamas
Tel: 242-326-8526
Fax: 242-322-5607

C emetery

Monultents

Email: info@wecarestonework.com..——....
website:www. wecarestonework. com

years.

Ventura, Calif.-based
apparel maker Patagonia is
having its best back-to-back
years since it was incorporat-
ed in 1972, said Rob Bon
Durant, vice president of mar-
keting. "We've been incredi-
bly recession-resistant."

Patagonia, with $330 mil-
lion in sales, grew 12 percent
last year and expects to do as
good or better this year, he
said. It counts on loyal cus-
tomers for a quality brand
that returns 1 percent of sales
to environmental causes.

(AP Photo)

"When disposable income
doesn't matter, people choose
us,” he said.

People are looking to out-
door recreation because it's
cheap, executives said. But
there's money in the business.
It supports 6.5 million U.S.
jobs. Together with $243 bil-
lion in recreational services
and money changing hands,
the industry has taken to call-
ing itself a $730 billion enter-
prise — the better to sell
politicians on things like the
Land and Water Conserva-
tion Fund.

Interior Secretary Ken
Salazar gave his endorsement
to all things outdoors on a vis-
it to the trade show last week.

"We're facing some tough
times in America, but it's the
right time to move forward
with a conservation agenda,"
he told executives packed in a
hotel ballroom.

The industry regards the
Land and Water Conserva-
tion fund as its salvation, help-
ing keep people interested in
the outdoors. It allocates off-
shore oil-and-gas royalties for
the purchase of land and
waterways for public use, with
matching grants for states and
communities. The big empha-
sis this year is on creating
urban parks, to draw kids
away from video games.

The House approved $900
million for the fund on July
30, leaving a final decision
with the Senate.

"Our big commitment is
getting youth outdoors,” said
Steve Rendle, CEO of The
North Face, a gorilla of the
outdoor industry. "That's the
lifeblood of our industry."

And then there's all the
cool gear. NEMO's tents
inflate quickly with a foot
pump — the first to shed stan-
dard-issue aluminum poles to
save weight, while sporting
multiple doors and vents.
Many tent makers like Nemo
have traded the heavy rainfly
for waterproof, breathable
fabric.

"They are the BMW of
tents,” says Cam Brensinger,
a Rhode Island School of
Design graduate who devel-
oped the 5.5-pound Morpho
($430), a roomy tent for two
that packs almost as tight as a
loaf of bread. Lighter versions
pack into the size of a can-
taloupe. The tents can be set
up within minutes.

Mase D. GARDINER HURRICANE
AND BURGULAR PROTECTION

#34 Bay Lilly Dr. Sea Breeze Estates
P.0. Box $$-5592, Nassau, The Bahamas

Phone: (242) 324-6794 © Fax: (242) 324-7554

[.

Screened-In-Patio Rooms

Non-fust Burgular Screen
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Aluminum Bahama Shutters

ee

Burguiar Screens
to fil Every budget

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Aluminum Colonial Hinged Shutters



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


THE TRIBUNE

MONDAY, AUGUST 9, 2010, PAGE 7B





Bahrain says no plans to

ban BlackB

By ADAM SCHRECK

AP Business Writer

DUBAI, United Arab
Emirates (AP) — Bahrain's
foreign minister said Sunday
the country has no plans to
follow its Persian Gulf neigh-
bours in banning some Black-
Berry services because secu-
rity fears do not outweigh the
technological benefits.

His comments come as
device maker Research in
Motion Ltd. is facing opposi-
tion by a number of countries
around the world, including
Saudi Arabia and the United
Arab Emirates in the Gulf,
to the way its encrypted e-
mail and messenger services
are managed.

Bahrain's Sheik Khaled bin
Ahmed AI Khalifa told The
Associated Press the hand-
held devices raise legitimate
concerns, but that his nation
has decided that banning
some of the phones’ features
is “not a way of dealing with
it.”

COMMONWEALTH OF THE BAHAMAS

"We're not saying there is
no security concern,” Sheik
Khaled said in an interview.
But, he added: "There are
many other ways for the crim-
inals or terrorists to commu-
nicate, so we decided we
might as well live it.”

Canadian-based RIM is
negotiating with Saudi
authorities to avoid a ban on
messaging services on the
devices, while neighbouring
UAE is planning an even
more sweeping crackdown on
the data services starting in
October.

Both countries have cited
security concerns. Critics con-
tend that the countries, which
maintain tight controls on the
media, are also motivated by
a desire to monitor users’
speech and political activity.

Sheik Khaled said Bahrain
fully respected the decisions
taken by other Gulf states
regarding the devices, and
declined to comment on the
motivation behind their
moves.

2009

IN THE SUPREME COURT

COMMON LAWAND EQUITY DIVISION CLE/QUI/00132

IN THE MATTER OF ALL that piece parcel or

tract of land containin
acres situate at White

approximately 12.76

ound on the western

coast of Eloow Cay (Little Guana Cay) one of
the Cays in the Abaco chain of Cays in the
Commonwealth of The Bahamas

AND



NO BAN: A BlackBerry user displays text message sent by his service
provider notifying him of the suspension of services at a mobile
shop in Dubai, United Arab Emirates. Officials from several nations,
including the United Arab Emirates, India, Saudi Arabia and Indone-
sia, have announced or are contemplating bans on BlackBerry features.

However, he said his coun-
try —a small island kingdom
that hosts the US Navy's 5th
Fleet — does not see a need
for a ban on BlackBerry mes-
saging or other data services
for now despite the security
concerns.

"It's not a way of dealing
with it. We will really kind of
lose a lot of communication
freedom just for the sake of
dealing with one matter,” he
said.

Local media in Bahrain
have reported that authori-

(AP Photo)

ties are cracking down on the
spread of some types of news
and information via Black-
Berry.

Sheik Khaled acknowl-
edged there were "some con-
cerns raised” but said sharing
information using the devices
remains legal. Authorities
were aiming instead to warn
users against spreading slan-
derous and libelous informa-
tion, he said.

The tech-savvy foreign
minister posted a statement
to his Twitter account Thurs-



PN eR es VERS SS
em eR aie

(Ore eee de -iole-))







¢ Accounting records in bad shape?



day that he said came from
the country's crown prince,
Sheik Salman bin Hamad Al
Khalifa. In it, he quoted Sheik
Salman offering assurances
no ban on messaging was
planned, saying a decision to
halt the service would be
"ignorant, short sighted and
unenforceable."

Late Saturday, Saudi Ara-
bia's telecom regulator said
it was giving mobile opera-
tors more time to finalize a
deal to allow BlackBerry
messaging to continue,
staving off a ban of the ser-
vice in the Arab world's
largest economy.

The oil-rich kingdom's
Communications and Infor-
mation Technology Commis-
sion said companies had 48
hours ending Monday to test
a system that would allow
them to avert a ban.

"Considering the efforts
made by mobile phone ser-
vice providers toward meet-
ing CITC's organizational
requirements and fulfilling
license conditions, they were
given an additional grace
period of 48 hours, which
ends on Monday, in order to
test the proposed solutions,”
the regulator said in a brief
statement. No details were
provided.

Saudi officials told The
Associated Press that RIM
has reached a preliminary
agreement with Saudi regu-
lators that would allow the
government some access to
users' data, and that authori-
ties were examining how such
a system might be imple-
mented.

They say the plan involves
placing a BlackBerry server
inside Saudi Arabia, which

erry services

already has strong controls
on the Internet to block
morally offensive and political
content and maintains strict
controls on freedom of
expression.

RIM has declined to com-
ment on the state of negotia-
tions. Saudi Arabia's three
mobile operators couldn't be
reached.

A deal that allows Saudi
officials to access user data in
the conservative Islamic coun-
try could set a new precedent
for how technology compa-
nies and governments interact
around the world.

A number of countries say
they see BlackBerry devices
as a security threat because
encrypted information sent
on them is difficult, if not
impossible, for local govern-
ments to monitor when it
doesn't pass through domestic
servers.

The UAE has said it plans
to block BlackBerry e-mail,
Web browsing and messag-
ing services starting in Octo-
ber. India, Indonesia and
Lebanon have also raised
concerns about the devices.

Simon Simonian, a tele-
coms analyst at Dubai-based
investment bank Shuaa Cap-
ital, said the way Saudi Ara-
bia solves its impasse with
RIM could provide a model
for other countries eyeing
BlackBerry crackdowns.

"Everybody will be closely
monitoring the developments
in Saudi Arabia to see if it
could set an example and
become a template for reso-
lution in the UAE or other
countries," said Simon Simon-
ian, a telecoms analyst at
Dubai-based investment bank
Shuaa Capital.

ea MATTER of the Quieting Titles Act,

AND
IN THE MATTER of the Petition of MAITLAND
LOWE

NOTICE

NOTICE IS HEREBY GIVEN that MAITLAND
LOWE, The Petitioner claims to be owner in
fee simple in possession of all that piece parcel
or tract of land containing approximately 12.76
acres situate at White Sound on the western
coast of Eloow Cay (Little Guana Cay) one of
the Cays in the Abaco chain of Cays in the
Commonwealth of The Bahamas, and has
made application to The Supreme Court of the
Commonwealth of The Bahamas under section
3 of the Quieting Titles Act, 1959 to have the
said piece parcel lot of land investigated and
the nature and_extent thereof determined and
declared in a Certificate of Title to be granted
ae the Court in accordance with the provisions
of the said Act.

2

AND TAKE NOTICE that copies of a diagram
or plan showing dimensions of the said piece
parcel or lot of land ney be inspected during
normal working hours at the following places:

a) The Registry of the Supreme Court,
ast S

treet North, Nassau, The Bahamas:
P) The Office of the Administrator, Marsh
arbour, Abaco, The Bahamas;

¢) Office of the Local Government oe
own District Council, Hope Town, Abaco, The
Bahamas; and

d) The_ Chambers of the Petitioner's
Attorneys Sears & Co., No. 10 Market Street
North, Nassau, The Bahamas.

NOTICE is hereby act that any person
having dower or a right to dower or an adverse
claim or claim not recognized in the Petition
shall on or before the 7 day of July, A.D.
2010 file in the Registry of The Supreme Court
in the City of Nassau, aforesaid and_serve on
the Petitioner or his Attorneys a Statement
of his/her or its claim in the prescribed form
verified by an Affidavit to be filed therewith.
Failure of any such person to file and serve
a Statement of Claim within al (30) days
herein will operate as a bar to such claim.
Dated this 14" day of May, A.D., 2010.

MESSRS SEARS & CO.
Chambers

No. 10 Market Street
Nassau, Bahamas
Attorneys for the Petitioner



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LEGAL NOTICE OF DISSOLUTION

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), BIP FUND (I) GP LIMITED is in
dissolution. Kyrene Kelty is the Liquidator and can be
contacted at CIT (Bahamas) Limited One Marina Drive,
Paradise Island, PO. Bow 55-19140, Nassau Bahamas. All
persons having claims against the above-named com
pany are required to send their names, addresses and
particulars of their debts or clainns to the Liquidator
before the 6th day of September, 2010.

Signed: Kyrene Kelty
Liquidater

THE COLLEGE OF THE BAHAMAS

Visit our website at www.cob.edu.bs

IMPORTANT DATES

Fall Semester 2010
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Tuesday, 17th August, 2010
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Wednesday, 18th August, 2010
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Wednesday, 18th August, 2010
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PAGE 8B, MONDAY, AUGUST 9, 2010

THE TRIBUNE







STRONG THIRST: A man tastes wine at Chateau Ste. Michelle winery,
in Woodinville, Wash.
(AP Photo)

By GEORGE TIBBITS
Associated Press Writer

SEATTLE (AP) — Hong
Kong and mainland China are
developing a strong thirst for
wine, and Washington and

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Oregon are hoping for a taste
of those growing markets.

So far, only a trickle of
Northwest wines make it to
Asian countries outside of
Japan. But experts say as
affluence grows in China's
booming economy, so will the
demand for the finer things
in life.

The recession hurt US wine
sales to most of the world last
year, but not to Hong Kong,
where the value of American
wine imports jumped 138 per
cent to $40 million.

Most of that vino came
from California, which
accounts for about 90 per cent
of the nation's total wine
exports. But the value of
Washington's shipments to
Hong Kong grew more than
fivefold.

Washington's larger winer-
ies have long cultivated cus-
tomers in China and Hong
Kong, and smaller exporters
are seeking a foothold. Earli-
er this year, a delegation from
Washington and Oregon
signed a deal to promote
wines in Hong Kong, their
first trade agreement with that
city.

"For our region, it’s about
being present, and you win by
being there,” said Al Portney,
vice president of internation-
al sales for Ste. Michelle Wine
Estates, which has been
exporting wine to Hong Kong
and China for years.

Portney said the Wood-
inville, Wash., winery pursues
a methodical and long-term
strategy showing that North-
west wines are high quality
yet affordable.

While Ste. Michelle's
exports to the region can fill a
container on a cargo ship,
Jonathan Ryweck, a one-man
exporter of three Washington
labels, ships a few pallets at
a time.

"This is not a get-rich
scheme, let me tell you,”
Ryweck said of his Port
Townsend company, Transna-
tional Ventures Inc. "It's
growing very nicely but it's
still real small volume and it's
a tough sell."

Still, the Chinese associate
foreign wine with success,
education and status, he said.

"The Chinese love the taste
profile of Washington wines,”
Ryweck said. "If you can get
the product in their mouth,
you can sell it.”

Hong Kong's wine imports
have soared since it eliminat-
ed an 80 per cent excise tax in
2008. The US Department of
Agriculture says it imported a
record $491 million of wine
last year. Most came from
France, but the US accounts
for 8 percent of those imports.

Hong Kong is now the
fourth-largest export market
for US wines behind Canada,

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POUR ON: Wine is poured for a tour group in the tasting room at the
Chateau Ste. Michelle winery in Woodinville, Wash.

the European Union and
Japan, and it's a major re-
exporter to the Chinese main-
land and other points.

Last year Washington
exported about $9.7 million
in wine, but just $721,000 to
Hong Kong and $414,000 to
China, according to figures
from Global Trade Informa-
tion Services Inc. cited by the
state Agriculture Depart-
ment. Exports to Hong Kong
jumped 529 per cent, howev-
er.

Figures for Oregon are
sketchier, but the USDA says
in 2009 the state exported
1,355 cases to Asia outside of
Japan and South Korea.
That's minuscule compared
with the 1.6 million cases its
wineries shipped in the US.

Most Oregon wineries are
family affairs that sell domes-
tically, said Katie Bray, Ore-
gon Wine Board export man-
ager. A small but eager group
is interested in exports, and
China has great potential, she
said, but the board's limited
promotional money is focused
on the major foreign markets:
Japan, the United Kingdom
and Canada.

Watson's Wine Cellar,
Hong Kong's largest specialty
wine chain, does sell Oregon's
Erath and Argyle wines, how-
ever.

"All of a sudden there's an
interest in Northwest wines,"
said Argyle winemaker Rollin
Soles. His Willamette Valley
winery produces 40,000 to
45,000 cases a year and has
shipped about 200 cases to
Hong Kong's largest specialty
wine chain, Watson's Wine
Cellar, in the past six months.
He sends only his top wines
— putting the "best foot for-
ward” to build the region's
reputation.

Chinese on the mainland
drink about 75 million cases
of wine a year, said Richard

(AP Photo)

Halstead, chief operating offi-
cer of the British consultancy
Wine Intelligence Ltd. But 90
per cent is domestically pro-
duced wine "that most wine
consumers in other countries
would struggle to recognise
as the product they drink," he
said.

Foreign sellers need to
guide new consumers on
types of wines and how they
taste, Halstead said.

"Chinese consumers are
confused by wine," he said in
an e-mail. "This is hardly sur-
prising: most Western con-
sumers are, too, and they
don't have to deal with a
totally alien script when trying
to decipher what's on the
label."

Wine Intelligence estimates
the number of Chinese who
drink imported wine — those
that can part with $20 or more
for a bottle — will grow to
about 50 million in 15 years,
nearly the number in the US
who now drink imports.

The average salary in Chi-
na's urban areas is $356 a
month, according to the latest
figures from China's National
Bureau of Statistics. But the
country's new affluence is
staggering, and the desire for
wine is rapidly spreading
beyond the big cities, Portney
said.

He and Ryweck see simi-
larities with this country. The
US had a “hard liquor and
beer culture" until World War
II, when Gls brought a taste
for wine home from Europe,
Ryweck said. By the 1970s,
there were countless good
domestic and imported wines
on store shelves.

Millions of Chinese work
or study overseas and bring
home what they learn,
Ryweck said.

"They're changing Chinese
society and part of that is
wine culture."

A TRICKLE: Elizabeth Richardson pours wine for a tour group at the
Chateau Ste. Michelle winery in Woodinville, Wash.

(AP Photo)

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


MONDAY, AUGUST 9, 2010

bk





i Caled 1

The stories behind the news







ulet War waged on
Bahamian waters

Unarmed fishermen dueling with poachers

By CHESTER ROBARDS
Business Reporter
crobards@tribunemedia.net

“EXPULSIS, piratis, resti-
tua commercia” - Piracy
expelled commerce
restored. Funny how history
has a way of repeating itself!

There is a quiet war being
waged in Bahamian waters,
where unarmed Bahamian
fishermen are dueling
poachers — often armed to
the teeth — for their own sur-
vival and the security of
their almost $100 million or
more industry.

While this is not the canon
blasting, sail tearing piracy
of old, stories have come
from the Tongue of the
Ocean recounting our fish-
ermen boarding poaching
vessels and commandeering
catch stolen from their own
traps.

Many other stories tell of
encounters with poachers
brandishing semi-automatic
weapons and opening fire
on Bahamian fishermen.
They have even exchanged
gunfire with the authorities
put in place to protect this
country’s marine resources.

However, the fishermen
say the Royal Bahamas
Defence Force (RBDF)
often does not respond to
their positions when radioed
for help.

Vessels

These same fishermen
recently identified as many
as 11 poaching vessels in the
Great Bahama Bank, some
with Spanish names they
now believe to have origi-
nated in the Dominican
Republic.

Bahamas Commercial
Fishers Alliance's (BCFA)
chief, Adrian LaRoda, told
The Tribune that poaching
is threatening the survival
of one of this nation’s largest
exports, the spiny lobster,
with poachers removing up
to 22 million pounds a year
of the product from these
waters.

He said that while marine
life was a valuable resource
for this country, it was slow-
ly being depleted by poach-
ers from neighbouring coun-
tries such as the Dominican
Republic.

According to Mr LaRo-



‘UNDER THREAT’: Bahamas Commercial Fishers Alliance's (BCFA) chief Adrian LaRoda told The Tribune
that poaching is threatening the survival of one of this nation’s largest exports, the spiny lobster,

da, the BCFA has identified
several vessels that poach in
Bahamian waters. He said
those ships can often carry
up to 60,000 pounds of fish
or lobsters out of these
waters on one trip. And
often, when caught, they are
not stripped of their cargo,
by the authorities but made
to pay a $10,000 fine — often
0.5 per cent of the total val-
ue of their catch.

National Security Minis-
ter Tommy Turnquest said
recently that measures have
been put in place to thwart
poaching in Bahamian
waters for the opening of
this crawfish season.

Mr Turnquest said a
defence force ship and a
smaller, faster craft, have
been assigned to patrol the
Great Bahama Bank.

He cautioned fishermen
not to approach the poach-
ers if they happened upon
them, but to call for assis-
tance.

“We dont expect
Bahamian fishermen to be
out there in a fight by them-
selves,” Mr Turnquest said.

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Abner Pinder, Spanish
Wells’ Chief Counselor, said
he has not yet received any
reports about poachers from
any of the vessels that origi-
nate from his island since
the start of this crawfish sea-
son.

“I would be the first per-
son they call,” said Mr Pin-
der.

Efforts

According to him, “no
news is good news,” from
the crawfish vessels. This, he
said, he hopes is indicative
of the efforts put forth by
the RBDF.

“The same way I know
how to raise cane when
nothing is being done, I can
give credit where credit is
due,” he said.

The fishermen are often
away from their families
when the season begins, for
up to six weeks at a time,
stopping home mid-trip only
for = and a quick family

isi
With the global downturn

crashing crawfish market
values last year, fishermen
are hoping for larger catches
and even larger returns than
2009.

And because the
Bahamas was barred from
trading with the European
Union in January of this
year, the fishing industry
and its distributors have
enough to worry about,
without worrying about hun-
dreds of thousands of
pounds of their livelihood
being sold on the black mar-
ket.

Glenn Pritchard, president
of Tropical Seafood, and
Mia Isaacs, president of the
Bahamas Marine Exporters
Association (BMEA), spoke
to Tribune Business recent-
ly about the implementation
of the catch certificate.

Implementing the process-
es that would bring this cer-
tificate into force was the
most important focus for the
fisheries industry for the
past seven months, as with-
out it the Bahamas would
not be allowed to trade with
the EU.



CALL FOR ASSISTANCE: Minister of National Security Tommy
Turnquest cautioned fishermen not to approach the poachers if
they happened upon them, but to call for assistance saying, ‘We
don’t expect Bahamian fishermen to be out there in a fight by

themselves’.

If the chain of custody for
lobster tails is not certified
by the use of those certifi-
cates, countries in Europe
could reject shipments of
crawfish from the Bahamas,
completely devastating the
industry.

The certificates, which
authorities have for months
trained Bahamian fishermen
to use, will allow purchas-
ing entities to trace catches
from their possession all the
way back to the fishing boat
that made the catch — and
possibly even back to the
exact spot in Bahamian
waters where the product
was caught.

Mandate

This requirement is part
of a global mandate to help
countries ensure their food
exports are safe and trace-
able, and that they keep
their marine resources in
check to ensure sustainabil-
ity.

To further the legitimacy
of this country’s fisheries,
the Bahamas is looking into
joining the Marine Steward-
ship Council’s (MSC) fish-
eries programme which at
this time is voluntary.

The MSC is the world’s
leading environmental cer-
tification programme for
wild-caught fisheries and
many importers of this coun-
try’s lobster tails are increas-
ingly demanding that coun-
tries from which they pur-
chase must be certified, in
an effort to combat Illegal,

Unreported and Unregulat-
ed (IUU) fishing issues.

When the Bahamas brings
into force the MSC certiti-
cation it is likely that many
poachers will find a closed
market for their product.

While poachers may find
it increasingly difficult to sell
their stolen wares on the
global market, they seem
not to fear the Bahamas’ jus-
tice system, where they con-
tinue to be held for only
days at a time when caught
for poaching and then
released, often without their
illegal catches being confis-
cated, according to some
fisheries heads.

Mr Turnquest suggested
recently that there could be
a connection between some
defence force officers and
poaching vessels.

While he did not say what
those relationships might be,
he said the Ministry of
National Security has enact-
ed an operation to squeeze
out anyone who might be
working in cahoots with the
poachers.

According to him intelli-
gence gathering operations
have been put in place with-
in the RBDF in an attempt
to figure out how so many
poaching boats reported,
could avoid capture.

“They can’t continue to
evade us every time we go
down,” he said. “It is a huge
issue for the fishermen and
they have been in constant
contact with the Defence
Force, particularly with

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REQUEST FOR EXPRESSIONS OF INTEREST
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HEALTH

REQUEST FOR EXPRESSIONS OF INTEREST INDIVIDUAL CONSULTANT
TC No, ATN/OC-11916-BH

PROJECT No. BH-T1015

The Government of The Bahamas fas received financing from the Inter-American
Development Bank (108) and intends to apply payments under the Project National Health
Services Strategic Plan 2010-2020, for the services of the following posts:

Project Adviser

A Project Adviser to coordinate all activities involved with the execution, delivery and
evaluation of the National Health Services Strategic Plan 2010-2010,

The Project Adviser will be required to:
(i) Provide overall project administration and oversight;
(ii) Administer the resource of the program;
(iii) Monitor contract executions and compliance; and
(iv) Prepare bi-monthly progress and financial reports.

The Ministry of Health now invites eligible individual consultants to indicate their interest
in providing the services, Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following qualifications and experience:
a) General Qualification: Postgraduate Degree (Master or PhD) in Health, Social
Sclence, Management, Economics or related subjects,
b] Work Experience: Extensive proven experience at senior level (5 years
minimum) at national and/or international level in the field of project
management, strategic planning evaluation, strategy analyses.

A Senior Health Planner Adviser to assist with capacity building, mentoring and training.
The Senior Health Planner Adviser will be required to:

(i) Analyze the existing institutional arrangements and identify challenges;

(li) Develop mechanisms to improve the effectiveness of the present governance and
institutional arrangements;

(iii) Develop a time phased operational plan, based on the draft National Health Services
Strategic Plan 2010-2020);

(iv) Train National counterparts to effectively manage a health Sector Planning Unit;

(Â¥) Prepare bi-weekly and monthly progress reports.

The Ministry of Health now invites eligible individual consultants te indicate their interest
in providing the services, Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following qualifications and experience:

a) General Qualifications: Postgraduate Degree (Master or PhD) in Health, Social
Science, Management or Economics,

b) Work Experience: Extensive proven experience at the senior level [7 years
minimum) at the national and/or international level in the field of strategic
planning.

¢] Adequacy for the assignment: training and experience in the health sector in
conducting training and institutional assignments.

ar Advi

A Senior Healthcare ICT Adviser to develop and cost a road-map with efficient and effective
ICT solutions te Improve the delivery of healtheare and sector planning,

The Senior Healtheare ICT Adviser will be required to:
(i) Review existing, new and proposed ICT initiatives throughout the healthcare sector;

(ii) Develop a time phased action plan, with related implementation costs to address the
shortcomings, and to achieve the expressed ICT goals in the 2010-2020 strategic

plan;
(iii|Train and mentor national counterparts;
(iv) Prepare monthly progress reports,

The Ministry of Health now invites eligible individual consultants te indicate their interest
in providing the services. Interested candidates must provide information along with a
detailed resume establishing that they are qualified to perform the services. The Criteria for
Selection will be based on the following:

a) General Qualifications: Postgraduate Degree (Master or PhD) in Engineering,
Computer Science and Information Technology.

b) Work Experience: Extensive proven experience (5 years minimum) at the national
and/or international level in the field of management information systems,
processes and interoperability, project management and strategic analyses.

c) Adequacy for the assignment: training and experience in the health sector in
conducting training and institutional assignments.

Consultants will be selected in accordance with the procedures set out in the [nter-
dictes for the Selection and Contras



American Dev ee Bank:



consultants as defined in the polices.

Interested consultants for the above posts may obtain further information at the address
below during office hours 9:00am, - 5:00p.m. Bahamas Time,

Expressions of interest must be delivered via direct mail or e-mail at the address indicated
below by August 13, 2010.

Ministry of Health

Attn. Mrs. Blanche Deveaux, Deputy Permanent Secretary
P.O. Box N-3730, Meeting Street, Nassau, Bahamas

Tel: 1-242-502-4854

Fax: 1-242-325-5421

E-mail:mdr@batelnet.bs

PAGE 2C, MONDAY, AUGUST 9, 2010

THE TRIBUNE



INSIGHT



Quiet war waged on
Bahamian waters

FROM page one

regards to Dominicans on
the Great Bahama Bank.”

While the minister seems
to have the best interest at
heart for the fishermen, he
could not say why poachers
who have been caught have
not been convicted of a
crime against the Bahamas.

“We bring them in,” is all
he said.

Mr LaRoda said he has
before tracked a group of
poachers who had been cap-
tured.

According to him, he peri-
odically checked on the men
while they were being held
in the Charmichael Road
Detention Centre, only to
find out one day that they
had been fined, released and
never stripped of their catch
or their vessel in accordance

with the law.

Some avid readers of this
paper’s website _ tri-
bune242.com chimed in say-
ing: “The Government of
the Bahamas needs to be
better protectors and stew-
ards of Bahamian marine
resources.

“The rich seabeds of the
Bahamas need the protec-
tion of the Bahamas
Defence Force. If placing a
New Defence Force Base at
Great Inagua to better pro-
tect the valued resources of
the Southern Bahamas is
needed... put the resources
where it is needed.”

Another reader added:
“They’ve been spotted in
waters off east Abaco on
many occasions, but no
defence force patrols are
seen in the area. Stiffer
fines/jail terms and better
policing are needed or we

will lose a lot.”

Fishermen are hoping for
a robust crawfish season
this year, and with the
European market opened
back up to them, they could
see the financial returns
awarded them before the
recession.

Though Bahamian fisher-
men threatened this year to
go out in a blaze of glory if
they encounter poachers, it
is not the pirate battle of old
they are hoping for. They
are simply businessmen pro-
tecting their livelihood. They
are intent on restoring com-
merce on the seas to which
they have been accustomed
for years as were their
fathers before them.

The fishermen only ask
for help from the authori-
ties and that justice be car-
ried out on poachers accord-
ing to the laws of the land.

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THE TRIBUNE

>i MONDAY, AUGUST 9,

Top coaches
attend BBF’s
elie
international

basketball
clinic

By RENALDO
DORSETT

Sports Reporter
rdorsett@tribunemedia.net

IN an effort to further
develop the game of bas-
ketball and increase the
product produced on the
floor, the Bahamas Bas-
ketball Federation (BBF)
continued its initiative of
improving the skills of
coaches across the coun-

try.

The BBF completed its
first annual International
Basketball Coaches Clinic
this weekend with a myri-
ad of high profile coaches
imported for a weekend of
tutelage in various aspects
of the game.

The objectives of the
clinic, which featured top
college coaches from the
US and the Bahamas, is to
increase the pool of quali-
fied coaches in the country
in the various leagues and
youth development pro-
grammes, paving the way
for their long-term
involvement in the sport.

SEE page 14



PAGE

orts

2010






PAGE 14 ¢ International sports news






Tyson Gay
upsets Bolt
in 100m...

See page 14



Knowles, Fish win
first title of season



FIRST TITLE: Mark Knowles and Mardy Fish (AP photo on right) have won their first title
of the season.

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By RENALDO DORSETT
Sports Reporter
rdorsett@tribunemedia.net

fter a long, arduous
season marred by
injury, setbacks and
disappointments,
Mark Knowles and
his newest doubles partner Mardy Fish
were finally able to hoist a trophy with
their first title of the season.
Knowles and Fish outlasted Tomas
Berdych and Radek Stepanek of the
Chez Republic in the finals of the
Legg Mason Tennis Classic in Wash-
ington D C yesterday, 4-6, 7-6(7), 10-
7

The pair last won a doubles title in
2009 at the Regions Morgan Keegan
Championships in Memphis, Ten-
nessee.

In a sluggish start to an opening set,
the Czech pair held a distinct advan-
tage in both service and return points
won. Berdych and Stepanek won a
total of 19 service points and 14 return
points as opposed to 16 and seven
respectively won by the Bahamian-
American duo.

In the second set, Knowles and Fish
trailed early, but sparked a furious
comeback with the set and match in
jeopardy.

Entering the tournament unranked,
the road to the title featured several

noteworthy opponents, but no ranked
teams as many were upset in the ear-
ly rounds.

After several missed opportunities
to break service, Knowles and Fish
advanced to win the first round match
when they defeated Marcelo Melo and
Bruno Soares of Brazil 5-7, 6-4, 10-4 to
advance to the quarterfinals.

In round two, they advanced and
defeated Simon Aspelin of Sweden
and Paul Hanley of Australia, 6-4, 7-5
to advance to the semifinals.

At 6-5 in the second set, Knowles
and Fish fought from behind to gain
deuce and eventually won match
point.

In the semifinals they won 7-5, 7-5
over Rohan Bopanna of India and
Aisam-U]-Haq Qureshi of Pakistan.

At 5-6 in the first set, Bopanna and
Qureshi had a 40-15 lead and were
well on their way to forcing a tiebreak-
er. Knowles and Fish rebounded to
win the deciding point and the set.

In 2009, Knowles lost in the quar-
terfinals of this event where he and
Mahesh Bhupathi lost 16-14 to even-
tual champions Martin Damm of the
Czech Republic and Robert Lindst-
edt of Sweden.

Knowles’ season continues today at
the Rogers Cup, presented by Nation-
al Bank, in Toronto, Canada. Fish will
take the week off, therefore Knowles
will partner with Stepanek.

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