STORMFORCE: This tree near Cable Beach met the full force of Tropical Storm Nicole yesterday. The storm, which brought heavy rain and winds to Nassau, ripped the huge tree completely off its roots. PICTUREDRIGHT: The projected path of Tropical Storm Nicole. SEEPAGETWO 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 Door would open for foreign labour C M Y K C M Y K V olume: 106 No.259THURSDAY, SEPTEMBER 30, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER RAINAND T-STORMS HIGH 88F LOW 78F By TANEKA THOMPSON Tribune Staff Reporter firstname.lastname@example.org IF Parliament approves the work permits for 8,000 Chinese workers for the Baha Mar project, it opens the door for Kerzner International to request similar levels of foreign labour for other Atlantis phases under its Most Favoured Nation clause with the government, said Prime Minister Hubert Ingraham. "The Bahamas government committed itself in the agreement with Kerzner International that no one will get a bet ter deal for a development than they got, that was in 1997. In 2003 that was strengthened by the government when they did the Phase Three. That is calledt he Most Favoured Nation clause, said Mr Ingraham. The Prime Minister was speaking at a press conference yesterday as he explained why the government has delayed bringing the Baha Mar labour resolution to Parliament for a vote. He added: "If, therefore, the Bahamas government agrees to 5,000 Chinese workers building The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W www.tribune242.com YOURSOURCEFOROBITUARIES N N O O B B O O D D Y Y B B U U T T N N O O B B O O D D Y Y B B E E A A T T S S T T H H E E T T R R I I B B U U N N E E I I N N S S I I D D E E T T O O D D A A Y Y C C A A R R S S ! C C A A R R S S ! C C A A R R S S ! C C H H E E C C K K O O U U T T T T H H E E L L A A T T E E S S T T S S T T O O R R M M N N E E W W S S O O N N T T R R I I B B U U N N E E 2 2 4 4 2 2 . C C O O M M / / W W E E A A T T H H E E R R PM explains how Chinese work permit approval setspr ecedent for future projects NASSAU By ALISON LOWE Tribune Staff Reporter email@example.com BAHA Mar Ltd last night h eralded further progress towards a final resolution of the outstanding loan that stands between it and access to the $2.6 billion in Chinese financing for the transformative resort project. After two days of intensive discussions between the develo pers and representatives of a syndicate of lenders led by Scotia Bank in New York an agreement has finally been reached on the broad parameters of an Baha Mar deal closer to completion SEE page 11 By PAUL G TURNQUEST Tribune Staff Reporter firstname.lastname@example.org PRIME Minister Hubert Ingraham said yesterday that he and his party are prepared to take whatever political ramifications will come if they are forced to go it alone on the controversial labour resolution for the Baha Mar project. When asked yesterday during a nationally-televised press conference at the House of Assembly, Mr Ingraham said he will make the best decision available to him at the time. I will not take account of what the political consequences of it is. I will do what I think is the best for the Bahamas and if that SEE page 14 PM: FNM will pa y political price over Baha Mar labour resolution SEE page 11 STORMTOPPLESMASSIVETREE THE country's economic climate is showing signs of favourable change, according to Prime Minister Hubert Ingraham, who said things are not as bad this year as they were in 2009. "It's not as bad today as it was last year. So we are making some progress," said the nation's chief at a press conference yesterday. Still, the government is bogged down with rising debt as it has to BAHAMAS ECONOMIC CLIMATE IMPROVING By PAUL G TURNQUEST Tribune Staff Reporter email@example.com EXPLAINING for the first time his reasons for not accepting the resignation of his Minister of the Environment Earl Deveaux, Prime Minister Hubert Ingraham said yesterday the controversy sur rounding his ministers free ride on the Aga Khans helicopter does not raise to the level of call ing for his dismissal. Acknowledging that persons could argue whether By AVA TURNQUEST Tribune Staff Reporter firstname.lastname@example.org THE GOVERNMENT is now attempting to mediate the land dispute between Arawak Homes Limited and outraged homeowners, Lands and Local Government min ister Byran Woodside said. Meanwhile, the real estate development company was said to be investing all of its time and focus on complet ing a detailed report of alleged trespass in Pinewood Gar dens. Mr Woodside said: The Govt attempts to mediate in the Ar a wak Homes dispute By ALISON LOWE Tribune Staff Reporter email@example.com THE government is considering ways to use more than $100 million in loans that are still on offer from the Chinese government, acknowledging that while this money too will come with a Chinese labour component it is expected that jobs for Bahamians can also be maximised. Carl Bethel, FNM party chairman and MP for Seabreeze, said the money is part of a much larger loan facility the Chinese approved Govt ponders ways to use Chinese $100m loans on offer SEE page 12 SEE page 12 SEE page 11 SEE page 14 PM:HELICOPTER RIDE NOT WORTH DISMISSAL MINISTER of Environment Earl Deveaux F ELIPE M AJOR/TRIBUNE STAFF
By ALISON LOWE Tribune Staff Reporter a firstname.lastname@example.org THE government expects to pay a very high price to engage quality control supervisors who will oversee the Chi nese construction of the Baha Mar project and the planned airport highway, to ensure a suf-f icient standard is met with regard to materials used and work done. Prime Minister Hubert Ingraham said a development on the scale of Baha Mar will require a level of supervision that the Bahamas is unable to manage on its own. Mr Ingraham said: We dont have the capacity in the Bahamas to manage a project of this size and so the Bahamas government would have to employ a firm of engineers, quality control people, environmental people et cetera, to undertake the supervision of the project, to undertake the monitoring of the project and to ensure the quality of the materials materials that are coming from outside our region that we are not accustomed to to ensure that they meet standards that have been understood in this part of the world. Now, the cost of this will be high, we estimate that the cost will be very high to be able to properly supervise the construction of this project, he added, noting that a quality control firm will also be hired by the government to oversee the airport highway project that is set to be constructed by a Chi nese general contractor using Chinese labour and $58 million in financing from that countrys government. C M Y K C M Y K LOCAL NEWS PAGE 2, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GUSTS from Tropical Storm Nicole ripped through the northwestern Bahamas yesterday, bringing torrential rains and high speed winds which forced the closure of public offices and schools in New Providence and Grand Bahama. According to Paul Walker, senior meteorologist at Accuweather.com, the 16th tropical depression of the season escalated to tropical storm status around midday yesterday. Widespread showers and winds ranging from 30 to 45 mph, with gusts up to 55 mph, affected the entire northwestern Bahamas. The heaviest rain fell in Bimini, Andros, New Providence and West End, Grand Bahama. In Grand Bahama, the torrential rains caused flooding in some low-lying areas, such as Eight Mile Rock, where one elderly person reportedly had to be rescued from a house. The National Emergency Management Agency (NEMA partially activated its National Emergency Operations Centre (NEOC and monitor the system as it passed between the Bahamas and south east Florida. Last night, NEMA announced that all tropical storm warnings for the Bahamas had been discontin ued. However, residents of southeast New Providence were advised to proceed with caution along Marshall Road, due to sea surge causing water to come ashore. NEMA asked residents to avoid the area or remain indoors until further notice.A similar warning was issued for Fishing Hole Road in Grand Bahama and the Glass Window Bridge in North Eleuthera. Public servants, who were sent home at 3.30pm yesterday, are expected to return to work today. For the latest weather information log on to www.tribune242.com Tropical storm forces closure of public offices and schools Govt expects to pay very high price for project supervision VERYHIGHPRICE: H ubert Ingraham WEATHERWOES: Touristswrap up against the rain on Bay Street yesterday.
B y PAUL G TURNQUEST Tribune Staff Reporter p email@example.com P RIME Minister Hubert I ngraham said he will recommend that an FNM conven tion not be held this year b ecause of the partys financial constraints. While this reflects his per s onal opinion, he said, the final decision rests with the FNM council. Mr Ingraham scoffed at sug g estions that his advice reflected concern about a possible leadership challenge, insisting he would welcome a con tender. He said: I am not Perry Christie. Any time anybody in my party would wish to become l eader they may do so without me having to ask a single s oul to vote for me. The party c an decide. If they vote for somebody e lse I will thank them, express my gratitude to them and do the best I can to help them in the future and return from w hence I came retirement any time, he said. Over recent months, political observers have speculated that Branville McCartney, the FNM MP for Bamboo Town,m ight challenge Mr Ingraham if a party convention were to be held. M r McCartney is said to have substantial public supp ort and some commentators s ay he could be the FNMs best shot in the 2012 elec t ions. However, FNM insiders say the party is still overwhelmingly loyal to Mr Ingraham. T hey also point out that Mr McCartney has little experience in either politics or governance. Mr McCartney has not spo ken often on the issue, but has s aid that given the opportunity, he would run for the lead ership post. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By PAUL G TURNQUEST Tribune Staff Reporter firstname.lastname@example.org THE Bahamas government has issued a formal notice to the US Embassy in Nassau concerning the treatment of nine straw vendors being held in a remand facility in New York accused of purchasing counterfeit products. Yesterday, Prime Minister Hubert Ingraham said he has been receiving daily reports on the case from the Bahamas consulate in New York, and what he read led the government to send a formal notice to the American government regarding the treatment of the vendors by US lawe nforcement. Mr Ingraham said the notice should have been delivered to the embassy yesterday morning and should be answered in due course. Complaints He said the specific complaints will be made public at some point. Mr Ingraham said: We are doing what we are supposed to do for the vendors. Those who have children here, the Ministry of Education, the Department of Social Services, the Ministry of Labour are taking steps to provide counselling or whatever support we can. Those who are incarcerated in America, we are liaising with their lawyers and when we find that their rights have not been respected we shall take the appropriate steps to make known the Bahamas condemnation for such action. We have no doubt that the American government will, as all democracies do, ensure that persons who are held pending trial are treated in a dignified fashion. Govt issues formal notice to USEmbassy over treatment of detained straw vendors Ingraham against FNM holding convention this year By TANEKA THOMPSON Tribune Staff Reporter email@example.com PRIME Minister Hubert Ingraham challenged a union boss to make good on his threat to sue over the nonpayment of performance increments to civil servants. This came in response to Bahamas Public Services Union president John Pinders suggestion that legal action may result from government's failure to honour the unions industrial agree ment in this regard. Mr Ingraham said: "I'm not prepared to deal with his threat. When he goes to sue we'll defend it in court. I don't take very well to threats if somebody wants to sue the government they should do so. Don't threaten me, because I am very stubborn when it comes down to a threat. Mr Pinder is upset that gov ernment chose not to pay performance increments to his members due to budget constraints, but has said that teachers will be given money owed to them as expressed in their own industrial agreement. Questioned But the prime minister questioned why a union leader would demand incre ments in the first place, when the government has had to resort to borrowing money to pay public sector salaries. Mr Ingraham said: "I find it unbelievable that having said what I said about the economy, about the state of public finances, the fact that I am borrowing to pay salaries. . people are asking me, 'Can you pay some increments?' One of the questions should be, 'Are you going to be able to continue to preserve the jobs of those who have jobs?' which is a big struggle. "That's the case around the world, even Communist Cuba fired a half a million workers and threatened to fire another half a million. And weve got silly ques tions being asked by people out there as to whether or not we should pay an increment, et cetera. PM unimpressed by union chiefs legal action threat M ATTERINHAND: P rime Minister Hubert Ingraham said he had been receiving daily reports on the case of the detained vendors. F e l i p M a j o r / T r i b u n e s t a f f JOHNPINDER
EDITOR, The Tribune. I write in desperation to p rotest about the motorcyclists who disturb the peace by roaring and blasting through our city and community streets with their unmuffled bikes. T his goes on every day and it is particularly bad on Sundays when they seem to travel around the island inp acks, revving up their m otors, not only disturbing c itizens but sometimes scaring the daylights out of people. Sometimes their blasts a re so loud that they shake w indows and set off car alarms. I would like to know as a citizen why the police do n othing about this. They m ust be aware of it. It is degrading the quality of life for our citizens as well as our visitors and adding to the perception that the Bahamas is a lawless place. Now I know that the police have their hands full with the violent criminals a nd I know too how some of our people think. They do foolishness and if you send the police after t hem they say the police should make better use of their time by going after the m urderers and rapists. T he point they miss is that this is exactly how law and o rder breaks down in a socie ty. N ot all of a sudden, but bit by bit, as we tolerate more and more anti-social behaviour by louts, bullies and misfits. The more they get away with, the more theyw ill try. It is past time for the police to clamp down on these inconsiderate peoplea nd haul them before the c ourts where, hopefully, our m agistrates will apply the appropriate remedy and make them pay for their g ross lack of civility and disr espect for the law. F ED UP Nassau, S eptember 28, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., ( Hon.) LL.D., D.Litt P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama TELEPHONES Switchboard (News, Circulation and Advertising A dvertising Manager (242 Circulation Department (242 WEBSITE www.tribune242.com updated daily at 2pm A UNION leaders talk of bonuses for civil servants when money has to be borrowed to meet their salaries, has put the Prime Ministers nerves on edge. John Pinder, head of the Bahamas Pub lic Services Union, has informed government that he has been busy pouring through case files and court rulings to see whether government can be taken to court for non payment of performance bonuses provided for civil servants under a clause in the unions industrial agreement. Mr Pinder seems satisfied with what he has found. He says he is now looking for a lawyer. I'm calling a meeting with the (BPSU's executive team for us to make a decision on which attorney we are going to choose because we don't need the matter to be held up," Mr Pinder said last week. The meeting is scheduled for next Wednesday October 6. Mr Pinder is upset because he claims that government has honoured the teachers contract, but not that of his union. He wants the pot shared among all the public sector, not just one group. Mr Pinder predicted industrial unrest in the immediate future. I think the government put too much tax increases on Bahamians, civil servants, at one time without any increments. They have increased National Insurance, increased electricity, gas, car licensing fees went up. "People are just barely living above the poverty line now, their salaries isn't mov ing and inflation continues to rise," he said. Of course, these increases have hit the pockets of every Bahamian, not just union mem bers, but, unlike unions, the majority of Bahamians have no increments to look for ward to. They are just grateful in these bleak times to have a job. At a press conference yesterday called mainly to discuss the Baha Mar project Mr Ingraham was questioned by the press on many other matters. One of them was Mr Pinders threat of legal action. Was the Prime Minister concerned? Not a bit of it. He was more concerned about finding enough funds to pay public service salaries in a bare cupboard there was no sign of increments. And so he challenged Mr Pinder to meet him in court. "I'm not prepared to deal with his threat, Mr Ingraham retorted. When he goes to sue we'll defend it in court. I don't take very well to threats if somebody wants to sue the government they should do so. Don't threaten me, because I am very stubborn when it comes down to a threat. We can relate to that attitude. The Tri bune is always willing to listen to another side of a story, but freezes when a conversation turns to threats. Thats when acidtipped pens go to work. Mr Ingraham could not understand why a union leader would want increments when government is borrowing to meet salaries and avoid layoffs. "I find it unbelievable that having said what I said about the economy, about the state of public finances, the fact that I am borrowing to pay salaries. . people are asking me, 'Can you pay some increments?' said Mr Ingraham. One of the questions should be, 'Are you going to be able to continue to preserve the jobs of those who have jobs?' which is a big struggle. "That's the case around the world, even Communist Cuba fired a half a million workers and threatened to fire another half a million. And weve got silly questions being asked by people out there as to whether or not we should pay an increment, et cetera, said Mr Ingraham. This is the same dilemma faced by every employer today. Everyone is trying to steer the ship carefully around the many economic shoals. Mr Ingraham commented that the Americans claim they turned the corner in their recession last year. However, the average American especially those over 50 who have no hope of finding a job at their age would dispute that. Of the 52 largest metro areas in the US with more than one million residents, only San Antonio, Texas, did not record an income loss. Instead the citys median income grew 0.5 per cent. There were many reasons for this, one of them being unlike the other states it did not get caught up in the housing crisis and the banks were conservative in their lending. The states hit hardest by the housing fiasco have been Florida and California. The traditional manufacturing cities have also suffered. And so, if we are waiting for America to snap back and more Americans to start travelling again, it could be a long wait. In the meantime all people and that takes in a world view are holding their breath, protecting what they now have, and praying for better times. Unfortunately, Mr Pinder, this is no time for increments. We all have to batten down the hatches and protect what we have. And that includes protecting union funds, rather than wasting them in a court action. Motorcycle tyrants disturbing the peace LETTERS firstname.lastname@example.org No time for increments union leader told EDITOR, The Tribune. I passed by the new U.S. Departure Terminal at LPIA the other day. What a beautiful looking new building. I h ear it's within budget and on schedule. T hen there's the proposed new gateway project that will take Bahamians and tourists on a brand new first class four-lane high-w ay. Even though times are tough, things are on the move. When the economy roars back, The Bahamas is going to be the place to be. S peaking of the new airport, I remember how the PLP messed up the last airport project. People forget that the PLP didn't build a new airport. They only built a new U.S. Departure Terminal and left the rest of the airport in an ugly mess. Indeed much of t he construction was poorly done. The new t erminal they built was like a big ugly barn. I t was too small and outdated even before it was finished. It is very interesting that the original cont ract for the new U.S. terminal under Sir Lynden was awarded to a Brazilian builder with a big budget of approximately $58 mil lion. The PLP let the costs get way out of control and drove the cost up to $82 million. There was incompetence and a lack of oversight by the PLP. Many will also remember the allegations of corruption and greed. When the PLP reneged on various pay ments, the building came to a halt throwing n early 500 Bahamians out of work. Of course, these were the Bahamians who were able to get work on the project. Sir Lynden signed an agreement with the Braziliansw hich required that more Brazilians than B ahamians be engaged on the airport. But it gets considerably worse than that. Sir Lynden and the PLP agreed to pay for-e igners a penalty if the number of Bahami ans on the project went beyond a certain number! Imagine that! Paying a foreigner to discriminate against Bahamians! P eople also shouldn't forget that the FNM had to spend $25 million more on the old U.S. terminal when it came to office because of how much the PLP messed up. Under the FNM, most of the workers on the new airport are Bahamians. And, this is only phase one of the new airport. New i nternational and domestic terminals are a lso going to be built. A t least Sir Lynden built one terminal. The ever late-again Perry Christie wasn't even able to build a new terminal, let alonea new airport. To my mind, the reason they keep com plaining about Mr. Ingraham and the FNM is that they are filled with envy, which, of course, is one of the seven deadly sins we are supposed to avoid. B.L.S. Nassau, September 25, 2010 When the economy roars back, the Bahamas will be the place to be
By NATARIO McKENZIE Tribune Staff Reporter email@example.com A YOUNGwoman whose body was discovered inside a grave in the Bahamas Veterans Cemetery died from respiratory arrest and blunt force trauma to the body, according to an autopsy report presented in court yesterday. The trial into the May 2009 murder of Shanice Adderley, 19, continued yesterday with a pathologist being among several prosecution witnesses to testify. Angelo Poitier, 24, a former boyfriend of Ms Adderleys, is on trial for her murder. According to an autopsy performed on May 29, 2009 by Dr Govinda Raju, Ms Adderley had died from respiratory arrest and blunt force trauma to the body. Dr Karen Sands told the court that the autopsy reportby Dr Raju revealed that the victim had sustained bruisesand scrapes to her left breast, left chest and left upper abdomen, as well as her right thigh, the inner aspect of her right knee, the front of her left thigh, the front of her neck and left lower jaw. According to Dr Sands, Ms Adderley also sustained bruising to her neck. She told the court that blunt force had been applied to the victims neck. Dr Sands noted that a person can suffer respiratory arrest as a result of choking. Also taking the witness stand yesterday was Shonette Thurston. Ms Thurston told the court that she and Ms Adderley worked at the same restaurant and that she was also a former classmate of the deceased. She recalled that Ms Adderley was at the restaurant with her then boyfriend Dominic Taylor between 11.30 and 12.30pm on May 26. She told the court that Ms Adderley appeared okay, but that something wasnt right. Charles Smith, a police reservist told the court that while on duty on the morning of May 27 he and his fellow officers were instructed by Chief Inspector Ken Strachan to proceed to the Bahamas Veterans Cemetery. Mr Smith said that at the cemetery, Chief Inspector Strachan briefed them on a a report of a missing female. Mr Smith said that they searched the cemetery in groups. During the search, he said, he noticed drag marks. He told the court that Chief Inspector Strachan noticed a grave slab which appeared to have been disturbed and instructed him and another officer to remove the slab. Inside the grave he said was the body of a fair skinned woman lying face down. Mr Smith told the court that the scene was secured and Poitier was taken to the Central Detective Unit. The case, which is being heard before Justice Vera Watkins, is expected to resume on Monday. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM t ftf ttff ttf A 24-YEAR-OLDMarket Street man was arraigned in a Magistrates Court yesterday for last weekends murder in the Ridgeland Park area. Police have charged Lethario Miller in the September 25 murder of Demarco Smith. Smith, 27, was reportedly gunned down at a home just off Robinson Road last Saturday evening. I t was reported that Smith and a friend, who was a pris oner on the work release pro gramme, were ambushed by two men on bicycles after they had stopped for something to eat on Colleton Street in Ridgeland Park west at around 2pm. Smith was reportedly shot in t he head and died at the scene. During his arraignment before Chief Magistrate Roger Gomez in Court One, Bank Lane, Miller, who was repre sented by attorney Murrio Ducille, was not required to enter a plea to the murder charge. He was remanded to Her Majestys Prison. The case was adjourned to October 5 and transferred to Court 11, Nassau Street. ACCUSED: Lethario Miller w ith murder yesterday. Man charged with Ridgeland Park murder Court hears autopsy report on woman found inside grave
C M Y K C M Y K LOCAL NEWS PAGE 6, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM %4+2674'*17)*6 LEADING Mechanic Gary Rolle of the Royal Bahamas Defence Force was recognised for his achievement within the Law Enforcement Credit Union (LECU brief ceremony at the Coral Harbour Base. Led by Oswald Nixon, chairman of the board of directors of the LECU, and other committee members, Leading Mechanic Rolle received a plaque for achieving the distinction of being the first non-police officer to be elected on the supervisory committee of the organisation. As the organisation celebrates its 25th anniversary, Leading Mechanic Rolle has been an active member of the Credit Union since 1997. As a member of the supervisory committee he currently serves as its secretary. By REUBEN SHEARER T ribune Staff Reporter firstname.lastname@example.org THE Royal Bank of Canada announced yesterday thati t has reached its goal of raising $25,000 from its fun r un/walk event in aid of childrens cancer care. The event spanned six m iles of terrain, and involved more than 500 RBC employees, clients and community members who gathered in thee arly morning hours of Sept ember 25 to raise money for the RBC Childrens CancerF und. T he New Providence event was one of many sponsored by RBC across the Caribbean region to help families with c hildren battling cancer. Funds are still being coll ected, and the total amount r aised across the Caribbean will be made public in early O ctober, said a statement f rom the bank. We are grateful for the tremendous turn-out and outpouring of support by our employees, their families and the community, said Nathaniel Beneby, Jr, theb anks vice-president and country head for the Bahamas. September is Childrens C ancer Awareness Month so w ere pleased to aid in bring ing awareness about paediatric cancer. Though its been only two y ears since its inception, the Childrens Cancer Fund has a lready assisted children in t hree countries, including one in the Bahamas, the bank s aid. I t has provided support for f oreign testing of biopsy samples, which results in quicker diagnoses and earlier treatment of cancer when identified, including the special case of Tenia Mackey who wasd iagnosed with bone cancer and did not have health insurance. Tenias family received f inancial support from the R BC/RBTT Childrens Can cer Fund which paid the expenses of a foreign doctor who travelled to the Bahamas t o perform a procedure that saved the girls left leg. The fund has made a m ajor difference in the lives of families helped, said Mr B eneby. We sincerely thank our s ponsors for their role in executing this successful event and look forward to ongoing partnerships with the community as we support children fighting this terrible dis e ase. Prizes were awarded to 18 overall winners of the event. RBC banking centres are s till accepting donations for t he RBC Cancer Fund through the end of September. By DENISE MAYCOCK Tribune Freeport Reporter email@example.com FREEPORT The deadline for nominations for the 1 4th Cacique Awards has been extended for residents o n Grand Bahama until Friday, October 1. A ccording to tourism officials, technical problems had delayed some of online nomination forms and so the nomination period has been extended for one week to allow persons to submit their nominations. The Cacique Award is the countrys highest tourism honour. B onnie Rolle, senior manager in the Ministry of Tourism and Aviation and the coordinator of the nom-i nation process, explained that some nominations subm itted through the ministrys websites, caciqueawards.com, and tourismtoday.com, did not reach them. In a small number of cases the software did not allow attachments to be sent along with nomination forms. Our information technology specialists have looked at the issues and they have all been resolved, s aid Ms Rolle. Out of an abundance of caution, the Ministry of T ourism and Aviation will allow an extra week to e nsure that the technical difficulties have not caused a ny potential candidates to be left out of the nomina t ion process. In an effort to ensure that online submissions have been received, Ms Rolle recommends that individuals contact her at the Ministry of Tourism and Aviation in Nassau as a final precaution. Cacique Awards nominations deadline extended until Friday ROYAL BAHAMAS DEFENCE FORCE MARINE RECEIVES RECOGNITION OSWALD NIXON chairman of the board of directors of the Law Enforcement Credit Union (LECU at the Defence Force Base for being the first non-police officer to be elected on the supervisory committee of the organisation. At their right is Clyde Sawyer, Captain of the Coral Harbour Base, along with other members of the supervisory committee of the LECU. RBDF photo/ Petty Officer Jonathan Rolle RBC reaches its $25,000 childrens cancer care goal
By DENISE MAYCOCK Tribune Freeport Reporter firstname.lastname@example.org FREEPORT Employees at the ZNS northern service are still in the dark about whow ill be let go here on Grand Bahama. According to recent reports, staff cuts have been reduced from 22 to 14 in Freeport. We were given an organis ation chart today, but we still dont know who will be let go, said an employee. The union has concerns about the chart and it is felt that the chart will have toc hange in order for the stat ion to function properly. Brando Stuart, union area v ice-president, could not be reached for comments up to p ress time. I t is strongly believed that cuts will include some middle m anagers. There are too many midd le managers here and some of them do not have anyone to supervise, an employeew ho wished to remain anonymous said. Meanwhile, ZNS employe es are trying to remain posit ive and supportive of each o ther. We are trying to encoura ge each other through this, the employee said. Some persons who have b een employed for over 30 y ears dont mind leaving, if the money is good, to pursue other dreams and aspirations. There has been a lot of public outcry over the cuts atZ NS in Grand Bahama where unemployment is high and jobs are scarce. T he northern service was said to be facing the biggest cut with staff levels beingr educed from 48 to 26. T hat number was said to have increased only minimal ly, the accounting department w ill be reduced to 10 three more than the initial estimate and the operations department staff also will be downs ized to 10. T he marketing and sales d epartment will be slashed to three persons and the radio department will be reduced from 23 to 12. According to sources, the c orporation expects to comp lete its transition to public s ervice broadcaster by the end of this year. By ALISON LOWE Tribune Staff Reporter a email@example.com TEACHERS union president Belinda Wilson yesterday urged her former presid ential opponent Frances F riend to accept the will of the people, after it emerged that Ms Friend has taken her fight for a new election to theD epartment of Labour, which is now considering the d emand from a legal perspect ive. All I have to say is that t he members of the BUT h ave made their decision and their decision is clear as to the p ersons they wanted to serve t hem. Id like to urge Ms Frances Friend and her team to accept the will of the people and m ove on. Weve got too many outstanding issues for the m embers for us to waste time going over a result which is clear, said Mrs Wilson, who won her post by 1,433 votes to Ms Friends 1323. On Tuesday, Director of Labour Harcourt Brown conf irmed that he, in his role as R egistrar of Trade Unions, a nd other Department of L abour officials met with Ms Friend and members of her t eam. Coming out of that meeting, in which alleged electoral i rregularities were discussed, Mr Brown said his depart ment is now awaiting advice from its attorneys on how it should respond to the claims. H e would not rule out the possibility of another BUT election. Ms Friend called for a new election after suggesti ng that the initial results did not convey the true will of the unions membership. Mr Brown said what happ ens next all depends on the position taken by the lawyers. Mrs Wilson and her executive team were officially sworn in last Friday following the previous Tuesdays e lections. H er installation went ahead after she obtained a copy of the results that had been cer-t ified by the Acting Registrar of Trade Unions, as Mr Brown was out of the country a t the time. M r Brown, who had been lobbied by some of Ms F riends team not to certify t he results, told T he Tribune he did not necessarily agree or disagree with the decisionb y the Acting Registrar to t ake that step, adding that he was still seeking more infor m ation. One member of Ms Friends team, Villadale Bain, who ran for secretary general of the union, has distanced herself from the steps being taken to bring about another e lection. While I am fully aware of the fact that there were an umber of irregularities relat ive to the elections held on T uesday past, I wish to make i t publicly clear that I do not s upport any legal attempts or otherwise to hinder the official induction and/or the work of the newly elected executives. By representation of their strong turn-out andv otes, teachers have spoken loudly and made their choice, Ms Bain said in a statement. The veteran teacher said she looked forw ard to working with the new e xecutives to secure an afforda ble and sustainable insurance plan for teachers throughout t he country. Y esterday, Mrs Wilson said h er team has already been working very hard to assist members with their outstand i ng matters. In this regard, a negotiating team has now been selected for discussions on the upcoming 2010 to 2013 bargaining agreement between the BUT and theg overnment. T he BUT presented its proposals for a new agreement to the government on June 3 and is awaiting a counter pro-p osal. Were ready to start n egotiating as soon as they g ive us that, said Mrs Wil son yesterday. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Accept will of the people P RIME Minister Hubert Ingraham said the Broadcasting Corporation's executive board is handling the impending ZNS restructuring in a very methodical way. H owever, at a press conference highl ighting government's concerns of the p roposed Baha Mar development yesterday, Mr Ingraham joked that the board was "taking too long to do what they are going to do." Fair H e added: "By that I mean I think they have been very methodical and very fair in the process, they have kept the union engaged and involved, they have now produced a structure which has been circulated to the union and it's members. And they have said for some time now thatt hey expect to complete this exercise by October. We are still a couple of days away from the beginning of October they've never given a specific date in Octob er and so there's no reason at the moment to doubt that they are seeking to move in a very deliberate and methodical fashion, the prime minister said. Of the 238 persons currently employed at the Broadcasting Corporation, better known as ZNS, it is said that o nly 158 people will remain 13 more than the initial estimate given. The cuts are a move to bring ZNS spending i n line with its reduced budget and transition it to a public b roadcaster. PM says impending ZNS restructuring being handled in very methodical way ZNS northern service staff unsure where axe will fall BUT president urges former opponent to accept poll result Hubert Ingraham BELINDA WILSON displays the certified copy of the Wednesdays election results in the Presidents office.
By LINDA DEUTSCH AP Special Correspondent LOS ANGELES (AP Prosecution and defence attorneys rested their cases Monday in the seven-week drug conspiracy trial of Anna Nicole Smith's lawyer-boyfriend and two doctors charged with providing her with excessive amounts of opiates and sedatives while knowing she was an addict. Superior Court Judge Robert Perry planned to hear defence motions to dismiss the case before jurors returned for final arguments Thursday. Perry has indicated he planned to throw out some charges before the case is submitted to the jury. He suggested prosecutors had overreached the evidence when they filed the 11-count indictment. After jurors were dismissed for the day, Perry told lawyers his research showed most of the charges in the complaint actually amounted to low-level misdemeanours, some of which carry only a fine as a possible penalty. "Should the court decide that the district attorney's office decided to build a case because you had a dead celebrity and a bunch of lowlevel misdemeanours?" Perry asked. Deputy District Attorney Sean Carney said it took two years for investigators to "unravel the puzzle" of the case. "We believe there were felonies," he said. The judge said the only felonies charged were three conspiracy counts, two of which he said earlier could be dis missed. Jurors were told the case would be placed in their hands next week. Much of the testimony focused on whether Smith, a former Playboy model and reality TV star, was addictedt o prescription drugs or instead seeking relief from chronic pain. The prosecution called a long parade of witnesses, but the defence called only one, an expert on pain management. None of the three defendants testified. Howard K. Stern, Dr. Sandeep Kapoor and Dr. Khristine Eroshevich have pleaded not guilty to three con s piracy charges and other drug counts. They are not charged in Smith's 2007 drug overdose death, which was ruled acci dental. The prosecution's last witness was Dr. Tim Botello, a psychiatrist who testified that Eroshevich overstepped the physician-patient boundaries when she flew to the Bahamas with medications that were administered to Smith after thed eath of Smith's son Daniel. Under cross-examination by defence lawyer Brad Brunon, who represents Eroshevich, Botello insisted Smith should have been treated by a psychiatrist licensed in the Bahamas. Brunon, however, has noted that some drugs Eroshevichb rought with her, including Methadone, were not available in that country. Botello suggested other drugs could have been substituted. Brunon asked Botello: "Did any of (her was using drugs to get high?" I did not see that," the witness said. Jurors also heard a stipula tion read by Stern's attorney Steve Sadow that prosecutors had spent $24,386 in travel expenses to bring two nannies from the Bahamas to testify. At the end of their testimon y, the judge said their credibility had been seriously under m ined. C M Y K C M Y K LOCAL NEWS PAGE 8, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM C6D:56?EAC@>@E:@? ?`cVdVcgReZ`_dcVbfZcVUSRdVU`_RgRZ]RSZ]Zej 7`cXV_VcR]Z_bfZcZVdTR]]$'$'*&!2bfRgV_efcVaRddVdR_U]f_TYg`fTYVcdRcVRgRZ]RS]V ReeYVZdT`gVce]R_eZdVd\Z_eYV`cR]E`hVcd Ac``W`WcVdZUV_TjcVbfZcVUW`cUZdT`f_eVUcReV:_T]fUVd+4`^a]Z^V_eRcjARc\Z_XZ_T]fUVUhZeYART\RXVAfcTYRdV=`TReVUReeYVe]R_eZdDV]WARc\RTZ]Zej ReeYVcVRc`WeYVcRWeV_eVc4`^a]Z^V_eRcj=f_TYG`fTYVc CVUVV^RS]VReViacVdd`fe]Ved`_]j2TTVdde`R]]e]R_eZdA``]dD]ZUVdR_UCZUVd 2fXfde"&eY@Te`SVc$"de Prosecution and defence rest cases in Anna Nicole trial THIS IMAGE provided by the Los Angeles County Superior Court shows Anna Nicole Smith with her daughter, Dannielynn and Howard K. Stern. AP Photo/ Los Angeles County Superior Court Share your news The Tribune wants to hear f rom people who are m aking news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning f or improvements in the a rea or have won an award. If so, call us on 322-1986and share your story.
C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM MERCEDES-BENZE-Class, C-Class, CLC-Class & ML-Class Tyreflex Star Motors is the Exclusive Authorized Dealer for Mercedes-Benz, Subaru and Isuzu vehicles. New &Used Cars &Trucks Sales, Parts &Service Call us at 325.4961 or visit our showroom on Wulff Rd today! Top of the Line Performance Vehicles only at Tyreflex Star Motors. TYREFLEX STAR MOTORSCall us today for your new Top of the Line Vehicle at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 SUBARU ForesterISUZU D-MAX Trucks T HE first four recipients of the Tara Xavier Hepburn Scholarship have all gradua ted from high school with m ultiple honours. S anay Collie was graduate d from St Annes School t his summer, while Earlison Curry, Colbert Newry and Brianna Smith successfullyc ompleted their tenure at St J ohns College. Earlsion Curry, a prefect, w as graduated with distinction and was successful in 11 BGCSE subjects. She fin-i shed fifth in her class of 81 students and received the E merald Club Award for m aintaining a grade point average of 3.50 in grades 10, 1 1 and 12. She also received the subj ect prize for physics, the C haplins Award, the Ruth S aunders-Rolle General Conduct Award, the S ervers Guild Award, the Key Club Award and the A nchor Club Award. I n June 2009, Earlison was selected to attend the People to People LeadershipS ummit at Johns Hopkins U niversity after fulfilling rigorous academic and leaders hip requirements. Earlison is now pursuing a b iology degree with a minor i n chemistry at the College o f the Bahamas. She is the daughter of Delison W atkins and Earl Curry. Colbert Newry was grad uated with special credit a fter being successful in 10 B GCSEs and received the Senior Masters Prize for the most outstanding male pref ect, the subject prize for E nglish Language and the C haplins Award. C olbert is now studying m echanical engineering at the College of the Bahamas. He is the son of ColbertN ewry Sr and Maria Newry. B rianna Smith was also graduated with special credi t after successfully completing seven BGCSEs. She was a member of the A nchor Club and the Key Club, and was awarded subj ect prizes for Office Proced ures, Commerce and Clothing Construction. B rianna was a finalist in the BCPOUs annual speech c ompetition, was chosen stu d ent leader of her class in g rade 11, and was a prefect in grade 12. S he is pursuing a degree in Education in Religion at t he College of the Bahamas. S he is the daughter of Rudolph and Patricia Smith. Sanay Collie was head girl a t St Annes School and was g raduated with special credit after completing seven B GCSEs. She was president of the F rench Club, Zeta Phi Beta C lub and the Fashion and P hotography Club; vice president of the Tourism T oday Club; captain of Peter House, captain of the schools softball and soccer t eams, co-captain of the s chools track and field team and member of the schools s wim team and dance troupe. Sanay received the Leadership Award, subject prizes for English Language and Office Procedures, and the Merit Prize. S he intends to attend the C ollege of the Bahamas b efore transferring abroad to pursue a studies in busin ess administration and f inance. She is the daughter of Joy Thompson and Sanford Collie. There are eight other Tara Xavier Hepburn Scholars pursuing high school studies: St Johns students Veronica Bonimy, the current head girl; Cameron Newry, head boy; Javon Rolle, senior prefect; Kristi za Storr and Simone Rolle,g rade 11 students; and Hilsia Major, grade 10 student; as well as St Annes students R ikki Barry, grade 11; and J essica Mark, grade 10. T he Tara Xavier Hepburn F oundation was launched in D ecember 2006 to celebrate t he life of an exceptional y oung Bahamian. T he donor-driven foun dation is dedicated to the h olistic development of young people by empower ing them to achieve a positive sense of self and realise their full potential as pro ductive, responsible and contributing citizens. Four Tara Xavier Hepburn scholars finish high school G RADUATED: Sanay Collie was graduated from St Annes School this summer. Sanay received theL eadership Award, subject prizes for English Language and Office P rocedures, and t he Merit Prize. She intends to attend the College of the Bahamas before transferringa broad to p ursue a studies in business administration and finance. She is the daughter of Joy Thompson andS anford Collie.
C M Y K C M Y K LOCAL NEWS PAGE 10, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM S CIENCE fiction author Lewis Walmsley, a resident of Freeport, has donated a copy of his upcoming novel Glassid or to the Sir Charles Hayward Lending L ibrary. T he science fiction book is set to be officially released on October 2 at the R uby Swiss Restaurant in Freeport. Receiving the book on behalf of the library was Josephine Zonicle, head librarian, and Shamika Gardiner, library clerk. I hope that many readers of all ages will enjoy my book. Although this novel is pure science fiction, it will draw the reader into par a llels of recent world history and offers interesting snippets on Grand Bahama and the Bahamas, said Mr Walmsley u pon his donation to the library. T he author is also donating the proceeds of the first 100 book sales to the i slands PACE Centre, an educational f acility for teenage mothers. Living here in Freeport is a dream c ome true, I love the laid-back lifestyle and the friendly Christian people. Since b eing here the islanders have been so kind to (my fiance Katherine so we wanted to give something back, he said. I like to think of myself as a story teller rather than a writer as I am no Hemingway. When writing Glassidor and my sec ond book, I purposely wove the Bahamas i nto the story lines with the hope that someday the tales will become movies and so bring worldwide attention to this b eleaguered island of Grand Bahama. I see its past splendour and hope that i n some way my fictions might create a groundswell to put the Grand back in Grand Bahama, said Mr Walmsley. At the public book launch, the author p lans to have characters from the book p ortrayed by actors who will read and act out portions of the sci-fi adventure. S et against the backdrop of places such as the Lucayan National Park, BensC ave, and even the British Colonial Hilton hotel, Glassidor is a fast-paced science fiction adventure, the author said. It is the story of a mothers love, duty, and devotion, in her protection of Earths children. Dee, a space nomad, arrives on the planet in 1620 AD to recover a lost arti fact sent there by her ancestors 74 million years earlier. Science fiction author makes book donation to Freeport Lending Library DONATION: LEWIS Walmsley (centre Receiving the donation on behalf of the library is Shamika Gardiner, library clerk (leftright
appropriate settlement of the loan, said Robert Sands, Senior Vice President of Government and External Affairs in a statement. Work is now being done to finalise the documentation with respect to the loan. The release came after a parliamentary debate on the BahaMar labour resolution that was tabled by the government, which seeks parliamentary assent for 8,150 work permits for Chinese and other foreign workers to come to The Bahamas to participate in the re-development project. This matter was shelved indefinitely by Prime Minister Hubert Ingraham yesterday morning. Having postponed the debate for several weeks in recognition of the fact that Baha Mar had not resolved the loan issue, Mr Ingraham again cited the fact that although he was advised that substantial progress had been made during negotiations between the two parties, most recently in New York, an agreement on the loan had not yet been concluded. Notwithstanding these efforts, the two parties are not yet able to conclude an agreement and a debate on the Resolution before an agreement is concluded would not be helpful to the process, he stated. The prime minister said the resolution would remain on the parliamentary agenda and be returned to only when I am in receipt of written confirmation that the parties have reached an agreement as to the satisfaction of the mortgage. The release from Baha Mar hours after Mr Ingraham made his statement appears to be intended to clarify that the two parties, Baha Mar and its creditors, have achieved something since they began head-to-head negotiations on the loan several weeks ago even though the matter has not yet been dispatched with. Mr Sands said the announcement of the achievement of an accord on the parameters of a settlement coincides with the prime ministers advice in parliament that there had been substantial progress made by the parties in New York. Earlier this month, based on advisories from Baha Mar, Mr Ingraham suggested expectations were that the loan issue would be dealt with by now. In the release issued by the company yesterday, Sarkis Izmirlian, Chairman and Chief Executive Officer of Baha Mar Resort Ltd, expressed his confidence that the Baha Mar destination resort project will proceed. The Cable Beach loan settlement is the last material financing piece related to the Baha Mar project, and it is now in the process of being resolved. We are excited about the Baha Mar project and its transformative benefits to the Bahamas in terms of the economy, infrastructure and job benefits, said Mr Izmirlian. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM means that there is a political price to pay then I will pay it, and my party will pay it, Mr Ingraham affirmed. For some time now, the Progressive Liberal Party and the government have been at odds on this controversial labour component of the Baha Mar project. With some 8,100 Chinese labourers needed to com plete the development, both political parties have voiced their serious concerns on the matter. Coupled with the fact that unemployment remains high throughout the country, and an election year is slated for 2012, many politicians are fearful of having to publicly vote either in favour of or against this colossal $2.6 billion project. In one vein, Baha Mar promises to provide thousandsof permanent jobs for Bahamians once the project is complet ed. However, at the same time, it will require the largest foreign labour input on any one development to complete the core project again while thousands of Bahamian labourers remain unemployed. And, even if the project is completed as planned, there still remains concerns over whether or not the newly-added 3,500 rooms could actually be filled. or not it was the right decision to make under the circumstances, Mr Ingraham still stressed that Mr Deveaux did nothing deserving of resignation. What I find very fascinating about this whole question about Earl Deveaux and resignation is the Opposition hasnt raised it in the House (of Assembly at all. At all. But I wonder why, he laughed. There was no basis upon which Earl Deveaux ought to resign. Hes done nothing deserving of resignation. Whether or not he should have taken a flight to Abaco, judgmental, but it doesnt rise to the level of dismissal and Bell Island is a place that doesnt have regular flights. Ive been there twice, I went there once on the Defence Force boat and once I went there onthe Aga Khans helicopter, and I went there to have lunch with the King of Spain and took my grandchildren to meet with the Aga Khans grandchildren. And then I asked while I was there, Listen I cant come this far without stopping in Black Point to hail the residents there. So we landed there and I went there and shook some hands in Black Point and came back to Nassau. Since that time, just yesterday, somebody told me, an official, he had to go to Cat Island on a developers aircraft to check something and on the flight with him was the member of Parliament, the deputy leader of the PLP (Philip Davis same private aircraft, Mr Ingraham said. However Fred Mitchell, the Oppositions MP for Fox Hill, said the Prime Ministers comments only reinforce the notion that it was OK for Earl Deveaux to accept the Aga Khans ride, because the Prime Minister himself had done the same thing. FROM page one Baha Mar deal FROM page one Helicopter ride FROM page one Political price
principals of Arawak Homes Limited have been asked to formally appraise the government of all matters, including but not limited to the parcels of land in question, the names of the would-be home owners affected, and/or any information in respect to these negotiations between the parties. We would also encourage the principals of Arawak Homes to take this course of action to bring the matter s quarely before the Bahamas government so that the government can act in this matter for the benefit of all parties concerned. The governments decision follows public outcry over the legality and morality of actions taken by the firm against alleged trespassers the most recent of which was the demolition of a family home in Sir L ynden Pindling Estates on Friday. The destruction of the home that Frederick Wood and his wife Maria Gibson-Wood took over eight years to build, was said by the firm to be the consequence of a complex process that spanned over a quarter of a century. In a press statement issued on Monday to explain the companys position concerning Fridays demolition the action was said to be in full compliance with the law Arawak Homes Limited also claimed there were "hundreds of persons involved in similar trespass" in Pinewood Gardens. Responding to criticisms that Arawak Homes were excessive in asserting their alleged property rights, president Franon Wilson expressed his confidence that once the report on the area was released most if not all concerns would be quelled. Mr Wilson said: This is the first time we have ever done this, so we really have to take our time and make sure what we present to the people can be readily understood. Its a very complex matter, first we have to get all the details and then we have to break it down [into laymans terms] so that people who are not attorneys can still read it and follow it. We feel the report is so important and thats why were putting all of our time and focus into it. Also the Minister responsible for Pinewood, where Pinewood Gardens is located, the lands and local government minister noted he wore two hats in the Arawak Homes matter. Mr Woodside said he planned to hold a public meeting at his earliest opportunity to address the matter with his constituents, and he invited all affected Pinewood constituents to register their names and addresses at his constituency office. Mr Woodside added: To Arawak Homes Limited, I recommend that they desist from taking any further action, that is demolishing the homes of residents in Pinewood, until government would have had the opportunity to consider this matter and take action in the best interest of all parties concerned. I truly hope that we can bring resolution to this matter in the best interest of all parties. C M Y K C M Y K LOCAL NEWS PAGE 12, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM for availability to governments throughout the Caribbean several years ago, a portion of whichw as designated for The Bahamas to draw upon. The Bahamas would have roughly $100 million unextended in terms of its allocation. The Prime Minister has indicated his intention to ask persons to think of programmes that could involve borrowing that would be of such a nature as to have the ability to maximise Bahamian labour, said Mr Bethel, a dding however that the government concedes it is a policy of Chinese economics that Chinese labour is tied to any loan. His comments came after the Government sought parliamentary approval last week to get a $58 million loan from the Chinese a portion of the overall loan facility available to fund the airport gateway project, which will see the dualisation and enhancement of John F Kennedy Drive in the name of easing traffic flow between the airport and d owntown Nassau. Like with the Baha Mar resort deal, an agreement to use the money for the infrastructure project comes with a demand from the Chinese that a Chinese general contractor using Chinese labour to the tune of 200 workers will undertake the project. Around 100 jobs for Bahamians will also be created. The PLP lashed out at the government for the proposal, voting against the idea when it came up for consideration in parliament last week. The opposition claimed that it disagreed with the high f oreign labour component on a project that would not require technical skills beyond the capacity of Bahamians. The government in turn said the money was available at a rate cheaper than it could get anywhere else and would allow for investment in the countrys future growth and development, while at the same time creating more jobs for Bahamians than some PLPoriginated projects, such as the National Stadium. Mr Bethel told The Tribune that although there are no specific plans in progress right now the fact that more money is availablea t an affordable cost from the Chinese at a time when it is increasingly more costly for this country to borrow from the usual inter national money market sources means the airport highway project and the Baha Mar development will likely not be the last infra structural projects to go ahead in The Bahamas that will call for a Chinese labour component. Mr Bethel said: The cost of loans in the international market are going up and theres nothing we can do about that. The place where we can get access to funds on the most reasonable terms isf rom the Chinese government. It is in the best interest of the country that we take this money which is at an unbelievably affordable rate and use it to lay a foundation for future economic growth and development. The $58million loan, which the government will use to finance the road project, set to start next year, comes with a low two per cent interest rate that over its 20 year life will save the government around $30 million in interest payments, Minister of State Zhivargo Laing told parliament. FROM page one Arawak Homes $100m loans offer FROM page one C ARLBETHEL
the resort on Cable Beach, at some subsequent time in the Bahamas Kerzner will have the entitlement to come and ask for the same deal, and the government will be bound to give him the same deal. So these are all matters that need to be considered up front." The resolution was temporarily shelved because the developers have not yet settled their $200 million loan to Scotiabank. This condition has to be met before Baha Mar's recently-acquired financing from the China Export-Import Bank will be released. The Chinese want this to be resolved because unless that loan's security on several real estate parcels at Cable Beach includi ng the existing Sheraton and Wyndham resorts is lifted, they will be unable to use the same as collateral for their loans. Mr Ingraham said he doesn't expect to have made a decision on Baha Mar's fate before his scheduled trip to China on O ctober 22. Speaking prior to Baha Mar Ltds announcement late last night that they have achieved an agreement with ScotiaBank on the broad parameters of an appropriate settlement of the loan, Mr Ingraham provided some insight into why the p rocess had not yet been resolved. "Baha Mar does not believe it ought to pay all the monies that Scotia says is owed to it, they believe they ought to pay less money. And Scotia believes it ought to get as much of the money that is owed to it as possible and that's what the argument is about," Mr Ingraham said, speaking of the reason why the loan has not yet been settled. Government cannot formally approve the project until that condition, and several others, are dealt with. In addition to the unprecedented levels of foreign labour the project calls for, the government is also worried whether the developers can attract enough visitors to fill its proposed 3,500 room inventory without an internationallyrecognised hotel brand attached to it. "We will be building the largest single resort development in the country with exclusively foreign labour, foreign labour where there is no transfer of any knowledge to locals. At the same time be putting a number of rooms that is larger than any we've got in the country, without any major hotelier being involved to date. "Apart from that, you have persons who are of the view that the project should be done in phases, that we cannot put on the market in the Bahamas at one time 3,500 hotel rooms." To counter this, Mr Ingraham suggested the developers construct Baha Mar in phases similar to Kerzner's International's phased approach to Atlantis and open only 1,000 rooms at the start. He added that he thinks the Baha Mar project and Atlantis can co-exist without one being a detriment to the other if this phased approach to development is taken. "We also have to take into account reality. We have operating down in Cable Beach nowa number of hotel rooms a number of them are closed now, including the casino. Well if I have difficulty dealing with less than 1,800 rooms what is it likely to be the case if I put 3,500 rooms there? What makes me feel and what gives me the level of confidence that all of a sudden I've become a magician in terms of the management ofa hotel and I'm going to have a very successful operation with high levels of occupancy and good levels of revenue to repay the loan of $2.4 billion? "And if I am having discussions about the question of repaying a loan of $200 million that is dragging on and on, does that raise any question that I ought to be concerned with? These are all matters that the government has to be concerned with. "My duty is to do what I think is best for the Bahamian people and we are considering and pondering all these matters before we give formal consideration". Mr Ingraham also shot down a belief held by some, that the country desperately needs Baha Mar approved to resuscitate the economy and boost employment. "One of the things I really take exception to is every time I see written in a column that Baha Mar is a saviour for the Bahamas. I find it most offensive. It is not. We are not going to die if Baha Mar doesn't come. "There's this theory that in order for us to take care of the huge labour force in the Bahamas, much of which is unskilled, etc, we need a big project every so often. And we've been fortunate to have a big project every so often, but at some point and time the Bahamas is not going to have a big project. It would be wonderful if we had Baha Mar going on right now, it would be even better if we had a scaled down version of Kerzner's phase four going on right now but the reality is we don't. We have prospects but we don't count chickens before they hatch". C M Y K C M Y K LOCAL NEWS PAGE 14, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 6LOEHUW$GGHUOH\ 3DWULFN%DLQ 3DXOD%HOO 'DZQ%HWKHO 9HUQLFD&DUWZULJKW /HZLV&RUQLVK %DUEDUD'DYLV 0LFKDHO'DZNLQV 7HUUHQFH)R[ $OH[DQGHU)UDQFLV 0LFKDHO+XPHV $YLV+XQW -DFTXHOLQH-RKQVRQ 6DPXHO-ROO\ $QWKRQ/LJKWERXUQH &KHUHLQGHU &KULVWRSKHUDKPLQJ 'RQREHUWV 'HERUDKROOH 1DND\D7DOERW $QWDQLFH:LOOLDPV 'RURO\Q:LOPRUH 127,&( 7KHIROORZLQJSHUVRQVDUHDVNHGWRFRQWDFW 0VDWULFLD&XUU\ D W continue public borrowing to meet its expenditure for civil servant salaries and the financi ng needed for upcoming infrastructure projects. Mr Ingraham appeared unperturbed by the dismal economic forecast coming from analysts. He said: "The Central Bank of the Bahamas is no more able to determine what's going to h appen in the future than the IMF, the World Bank, the IDB, the US government. They are all just guessing, informed guessing, but they have no means of knowing when the world economy is going to turn around and what the impact is going to be. "All of us are forecasting and d oing the best we can." F ROM page one Economic Foreign labour FROM page one
By NEIL HARTNELL T ribune Business Editor The Bahamas Chamber of Commerces merger with the Bahamas Employers Confederation (BECon plete by New Years Day, the formers president confirmed yesterday, with the unified organisations strategic plan calling for his post to become full-time and the existing committee structure to be trans formed into divisions. Khaalis Rolle told Tribune Business that the Strategic Plan, devised by an International Labour Organisation consultant from Bahamian stakeholder input, aimed to create an organisational structure that would leave the merged entity wellplaced to meet the 21st century challenges facing the private sector. We will have a new organi sation on January 1, Mr Rolle said of the BECon/Chamber merger, adding that the Strate gic Plan had been launched at the organisations retreat last weekend. Work is now underway to complete the business plan. The Strategic Plan was focused on creating an organi sation that will meet the needs of our members going forward, the Chamber president added. Weve been a very good advo cacy organisation, and not so good in terms of delivering services. Thats what Ive focused all my effort on. My goal is to improve our value proposition beyond advocacy, and that is what the Strategic Plan is all about, building an organisation that makes sense. That is our primary focus right now, making sure our value proposition is C M Y K C M Y K SECTIONB firstname.lastname@example.org THURSDAY, SEPTEMBER 30, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.38 $4.37 $4.22 Sleep well while your money grows. Sleep w ell while y ou r mone y gro ws. up to 6% interest* *Certain restrictions applywww.BankBahamas.com Chamber/BECon mer ger eyes New Years Day finish K HAALIS ROLLE Strategic Plan calls for full-time, paid president to head unified organisation, with committee structure replaced by divisions Focus on making sure our value proposition is very compelling through service delivery SEE page 5B By NEIL HARTNELL T ribune Business Editor An $857 million Bahamian resort projects general partner has alleged that the developments main financier fabricated the unavailability of a key witness behind the sham audit intended to wipe out his $ 5 million personal investment and equity position, citing this as a key reason to overturn his court-ordered removal. In the latest round of the protracted battle for control at the 375-acre southwest New Providence South Ocean project, Roger Stein and his RHS Ventures company are urging the New York State Supreme Court to overturn the arbitration award that removes them as general partner, and installs hedge fund financier Plainfield Asset Management in their place, on the grounds that new evidence has come to light since the August 5 hearing on the issue. In their motion and supporting affidavits, Mr Stein and RHS Ventures are alleging that Plainfield falsely informed them that a key witness, who pur$5m wipe-out via sham audit n $857m South Ocean developments general partner alleges bitter financier foe fabricated unavailability of key witness to alleged conspiracy to remove him n Claims former hedge fund chief coerced into allegations of misappropriation through withholding of benefits and severance pay R OGER STEIN SEE page 5B By NEIL HARTNELL Tribune Business Editor Family Guardian yesterday said it was seeing initial signs that safeguards tos tabilise the volatility of health claims w ere having an impact, with total benefits payments down by $0.5 million yearover-year for the 2010 second quarter, as the company reported a 39 per cent net income rise for the half-year. Patricia Hermanns, Family Guardians p resident, told Tribune Business that while the policy-by-policy analysis of its health insurance portfolio to ensure premiums reflected claims experience would take some time to fully bear fruit, the initial indicators were encouraging. Were working through it, Ms Hermanns said of the Benefits drop aids FamGuard 39% profit rise Insurer sees benefits payments drop $0.5m in Q2, and slowdown in growth rate in half year, as safeguards kick in* General insurance agency starts writing b usiness this month Better rates than banks behind 16% annuity growth, with insurance premiums growth averaging over 10% for last five years S EE page 7B PATRICIA H ERMANNS By NEIL HARTNELL T ribune Business Editor Baha Mar and Scotiabank w ere yesterday said by s ources to have determined the amount of cash the developer would pay upfront, and the size of the equity stake the bank will take in the $2.6 billion Cable Beach redevelopment, as the Prime Minister expressed concerns about the potential impact from dumping 3,500 new hotel rooms on to the Bahamian resort market at the same time. T ribune Business was told t hat the two parties had decided on the figures involved in their debt-fore quity swap, but were now w restling over the terms of a Shareholders Agreement that would govern their relaShareholder deal needed for $200m Baha Mar solution PM expresses concern about dumping 3,500 hotel rooms on market at once SEE page 4B By CHESTER ROBARDS Business Reporter c email@example.com Niche Bahamian businesses may be able to exploit the changes US legislation will create fori nternational financial cent res, especially the high c ompliance costs associated with American clients, a KPMG (USy esterday. Melinda Schmidt, who spoke at a Bahamas Instit ute of Chartered Accoun tants (BICA it was expected that small pockets of businesses, f ocused on assisting financ ial institutions in aligning themselves with the mand ates of the new US Foreign Accounts Tax Com p liance Act (FATCA begin to grow around the changing industry. M s Schmidt added that t he need for people like her, charged with educati ng financial services indus try professionals across the g lobe, sprouted out of the changing global financial arena. U S tax law expert and Bahamian MP, Ryan Pinder, who also spoke at theB ICA event, agreed that the Bahamas can grow b usiness through the aggressive changes beingc hampioned by the Organ isation for Economic Cooperation and Develop ment (OECD According to him, one of the Bahamas most impor t ant Tax Information Exchange Agreements (TIEA da, along with the imple mentation of the Economic Partnership Agreement (EPA for Canadian companies to establish operations in the Bahamas and allow them easy access to the European market. Your clients can estab lish regional operations in the Bahamas, a tax-free jurisdiction, and then repa triate profits back to Cana da tax free, he said. This is a unique and tremendous advantage. Ms Schmidt said while there is still 27 months left for financial firms to become familiar and com pliant with the FATCA standards, which will be revealed in the US by the 2011 first quarter, those institutions will be faced with high costs and might not make the deadline. Despite this, Mr Pinder said opportunities exist to take some global pressure off of this jurisdiction and industry. According to him, the Bahamas must simply dis tance itself from the perception that it is a financial centre of tax cheats, and a tax havens The global community believes that the Tax Cooperation Bill and the Tax Information Exchange Agreements are a first step to ensuring this, said Mr Pinder. And as I have said earlier, this is likely only a first step. We should work to not be known as a tax haven, nor solely an offshore financial jurisdiction, but an International Business Centre. Compliance costs create opportunityfor new business
I t is very rewarding to get a better understanding of the basics of graphic design by learning the elements and principles that govern design and page layout. Graphic design is the process and art of combining text and graphics, then communicating an effective message in the design of logos, graphics, brochures, newsletters, posters, signs and any other type of visual communication. Thus designers achieve their goals by using all the elements and principles of graphic design. By knowing these simple graphic design basics and their application, persons with no formal training can improve page layout and text compositions. However, I still do recommend formal lessons to get the full benefit. Despite the fact that designers are very analyti cal and have a keen eye for detail, there is usually only one correct way to apply each principle. Lets explore the different types of principles: Balance Visual balance comes from arranging elements on the page so that no one section is heavier than the other. Or a designer may intentionally throw elements out of balance to create tension, or a certain look or mood. For example, try walking a long distance with a two-pound bag of rock in one hand and a 10 pound bag of marbles in the other. After a while, you'd want to shift your load around, puttinga few marbles in the rock bag to balance your load. This is exactly how balance w orks in design. Symmetrical, radial, formal and informal, ways of arranging elements ona page to achieve visual balance is the main idea. Our bodies also need a balance of nutrients to keep us healthy, but every now and then it's OK to feast on choco late, ice cream and an entire supersized bag of potato chips. Well, balance in design is much the same. For the most part, our eyes and minds are most comfortable with evenly balanced lay outs where the graphics don't overpower the text, and the page doesn't seem to tilt to one side or the other. P roximity/Unity In design, proximity or closeness creates a bond between people and between elements on a page. How close together or far apart elements are placed suggests a relationship (or lack of between otherwise disparate parts. Unity is also achieved by using a third element to connect distant parts. For example, observe a group of people in a room. You can often learn a lot about who is listening intently to another person, who are strangers, or who is ignoring who by how close together they sit or stand. Its good to know how to arrange elements on the page through proximity, keeping like items together and creating unity. Alignment Alignment brings order to chaos, whether in a parking lot or on a piece of paper. How you align type and graphics on a page fosters familiarity, or brings excitement to a stale design. Can you imag ine how difficult it would be to find your car in a crowded parking lot if everyone ignored the parking lot stripes and parked in every which direc tion and angle? Imagine trying to get out. Wouldnt that drive you mad? While centred text has its place, it is often the mark of a novice designer. Pay attention when creating more interesting, dynamic or appropriate layouts, as lack of alignment creates an disorganised look. Mixing too many alignments can have a similar effect, but it's also OK to break alignment when it serves a specific purpose, such as to intentionally create tension or draw attention to a specific element on the page. For more complicated layouts, the use of guidelines and grids aid in precise placement of elements. R epetition/Consistency Think about this. What if stop signs came in pink squares, yellow circles or green triangles, depending on the changing whims of a community and a few of its residents? Imagine the ensuing traffic jams and accidents. Repeating design elements, and the consistent use of type and graphics styles within a document, point a reader where to go and help them navigate your designs and layouts safely. Contrast Contrast is one the principles of design when two elements are different. The greater the difference, the greater the contrast. The k ey to working with contrast is to make sure the differences are obvious. Four common methods of creating contrast are by using differences in size, value, color and type. For example, on the basketball court, one pro team looks m uch like another, but send a few of those players for a stroll down any street and something becomes apparent those players are much taller than your average guy on the street. That's contrast. In design, big and small ele ments, black and white text, squares and circles, can all create contrast in design. Contrast adds interest and provides a means to the page of what is important. It aids in making headlines and subheadings stand out, and makes smaller or lighter elements recede on the page to allow others to take centre stage White Space The art of nothing is another important principle of design missing from the page layouts of many novices. Basically, white space is the absence of text and graphics. It breaks them up, and provides visual breathing room for the eye, allowing a page to be less cramped, confusing or over whelming. Have you ever tried stuffing your clothing and many gadgets between two suitcases to avoid paying overweight when travelling? Crazy, isnt it? Well, designs that cram too much text and graphics on to the page are uncomfortable and may be impossible to read, which is why white space gives your design breathing room Effective graphic design is not created randomly or by chance. These principles are conceptual ideas that assist graphic designers in the creation of great designs. They bring everything together through repetitions of a visual image rhythm, which dictates that everything on the page is visually joined to some thing else, thus giving the work a feeling of wholeness or one ness. Design elements are the concrete tools that embody all principles and make them come alive. Like the principles that inspire them, they help in bal ancing and dictate the goal of true art work as well. Achieving this creates a lively graphic that effectively and professionally delivers your message to your customer. So until we meet again, have fun, enjoy life and stay on top of your game. NB: Author welcomes feed back at: deedee2111@hot mail.com C M Y K C M Y K BUSINESS P AGE 2B, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE THE ART OF GRAPHIX DEIDRE M.BASTIAN The principles behind design
B y CHESTER ROBARDS B usiness Reporter firstname.lastname@example.org The Bahamas must beef up s taffing levels in the Ministry of Finance, or hire consult ants, if it is to fulfill its Tax Information Exchange Agreem ent (TIEA US tax attorney and MP said yesterday. Ryan Pinder, speaking at a Bahamas Institute of Chart ered Accountants seminar, said that since it was the Ministry of Finances sole responsibility to receive tax information requests, and ensure the information requested is relevant to the requesting jurisdictions investigations, individuals skilled in recognising what is relevant and viable information will be crucial. Authority M r Pinder said the Minister o f Finance is the only person with the legislative authority to request client information from any financial institution i n this jurisdiction. He cautioned seminar attendees that t hey are not obligated to r elease information directly t o a foreign requesting authority, as requests under t he bilateral TIEAs must be w ritten directly to the Minist er of Finance. Under the Bahamas Foreign Tax Compliance Act, 2010, the Minister of Finance is the party responsible for requiring the production of information. Also, according to the Act, the requesting country is required to state its intent in w riting to the Minister and i nclude in the correspondence specific information. That information requested has to be so specific that it gives no semblance of a fishing exped ition by the requesting country. According to the Act: The Minister of Finance shall only issue a notice... where theM inister is satisfied that the information is foreseeable rel-e vant to the proper administration and enforcement of the domestic tax laws of the requesting state concerning tax matters covered by the governing Agreement. Mr Pinder argued that such an arduous task will require t he Minister and his Ministry to know what is relevant to a particular international authority, and should law enforcement be sent in tor etrieve this information from a financial institution, they w ill also have to be versed in what information is viable and within reason. C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM +LJK(QG&RPPHUFLDOHDO(VWDWH 0XOWL)DPLO\/RWIRUVDOH %HDXWLIXO:HVWULGJH(VWDWHRUWK 3DYHGRDGV %DQN)LQDQFLQJ$YDLODEOHb'RZQ 7 ) 2 5 6$/( 4IFSBUPO/ 5"45*/(.&/6 rr 4UBSXPPE)PUFMT3FTPSUT8PSMEXJEFr*OD"MM3JHIUT3FTFSWFE4IFSBUPOBOEJUT MPHPBSFUIFUSBEFNBSLTPG4UBSXPPE)PUFMT3FTPSUT8PSMEXJEFr*ODrPSJUTBGGJMJBUFT $POTVNJOHSBXPSVOEFSDPPLFENFBUTrQPVMUSZrTFBGPPErTIFMMmTIrFHHTrPSVOQBTUFVSJ[FE NJMLNBZJODSFBTFZPVSSJTLPGGPPECPSOFJMMOFTT "MMJUFNTTVCKFDU UPHSBUVJUZ5ISFF $PVSTFT 1SJYGJYF By CHESTER ROBARDS B usiness Reporster email@example.com T AX Information E xchange Agreements (TIEAs o f global pressure on international financial centres, a U S tax specialist and MP said yesterday. Ryan Pinder, speaking at a Bahamas Institute of Chartered Accountants (BICA t ax information reporting will continue to evolve, as will the Bahamas system for exchanging such information. According to Mr Pinder, t his country and others that h ave been pressured by the O rganisation for Economic C o-Operation and Development (OECD information, will continue to have to set progressive policies to adhere to the changing environment. The USs Foreign A ccounts Tax Compliance A ct (FATCA s tage for aggressive trans parency policy. The United States has l ed the charge in the evolut ion of international tax c ompliance, with its passage j ust a few months ago of the Foreign Accounts Tax Compliance Act, said Mr Pin d er. I believe that this is the predecessor of how the next step of international taxr eporting and compliance w ill evolve, to force financial institutions themselves to report to international taxing authorities clienti nformation. H e added that OECD c ountries want to force comp liance by international financial centres in order to have their financial institutions produce informationo n clients automatically. A part from decreasing the appeal of international f inancial centres, this aggressive approach to repatriate tax revenues back to theiro wn countries will have the effect of increasing work loads and oversight in the country holding the offshore account. Looking specifically at the US Internal Reve nue Service (IRS der said legislation such as F ATCA will make it almost i mpossible for a foreign institution to not comply with their requests for information. The concern of countries, and specifically the United States, was that investiga t ions pursuant to Tax Infor mation Exchange Agree m ents could not be effectively completed within the standard three-year statute o f limitations, he said. This Act, as you see, extends the statute of limitations to six years. TIEAs start, not end, of tax pressure Skills boost needed for tax agreements R YAN PINDER Share your news The Tribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigningf or improvements in the area or have won ana ward. If so, call us on 322-1986 and share your story.
tionship and the terms of Scotiabanks equity participation in the Cable Beach project. T his newspaper was also t old that Scotiabank wanted to resolve the loan situation by the time staff at the Wyndham and Crystal P alace casino returned from t hose properties temporary s ix-week closure, which will happen in early October. This was effectively confirmed by Hubert Ingraham in the House of Assembly yesterday, when he con firmed that substantialp rogress had been made in talks between the developer a nd bank during a day-anda-half of meetings in New York last week, prior to a press conference during which he outlined some of his governments concerns over the project. The Prime Minister indicated that, if Baha Mar and Scotiabankw ere finally able to resolve t heir differences and the p roject went ahead, with C hina Export-Import Bank a nd China State Construct ion providing the financing and construction/equity partner role respectively, theG overnment would attempt to persuade them to do the $ 2.6 billion project in stages, rather than all at once. We understand the impact of that. If they do it in phases, it will end up costing more money and they will need less Chinese workers. The extent to which there can be a trade off is now known, Mr Ingraham said. T his tied into one of the k ey concerns and considera tions for the Government, n amely whether the comp letion of the Baha Mar p roject and release of 3,500 new hotel rooms on the market would depressB ahamian resort industry room rates and effectively split the market for highend visitors with Kerzner I nternationals Atlantis resort to the extent that no one wins, both mega resorts being left with unfilled inventory. Asked whether Atlantis a nd Baha Mar could coexist, Mr Ingraham said: Yes, over a phased period of time. In other words, if Baha Mar brought on 1,000h otel rooms first, as Kerzner did, and later on some additional rooms etc, it can work. But not to just dump in the market one time these numbers of rooms. You have persons who are of thev iew that the project should be done in phases, that we c annot put on the market in the Bahamas at one time 3,500 hotel rooms. That we don't have the capacity to a ttract the visitors to make such a thing successful, and t hat we will put ourselves in the position where there w ould be competition down to the bottom in terms of rates, where we can end up affecting negatively both P aradise Island and Cable Beach, or just one or the other. Concern The Prime Minister also expressed concern about the wisdom of adding 3,500 r ooms at Cable Beach when B aha Mar was having difficulty filling the existing 1,800 i nventory it has now, given that the Wyndham andC rystal Palace Casino have been closed for five weeks a s part of a six-week costcutting programme. They are due to re-open earlyn ext month. And, for good measure, M r Ingraham indicated the Governments concerns a bout the financial sustainability of the Baha Mar proj ect, since as the developer was struggling to repay a $ 200 million loan, what chance would it have to m eet the $2.45 billion loan from China Export-Import B ank. If I have difficulty deali ng with less than 1,800 rooms, what is likely to be the case if I put 3,500 rooms t here? What makes me feel, and what gives me the level o f confidence, that all of a sudden I've become a magician in terms of the man-a gement of the hotel and I'm going to have a very succ essful operation with high levels of occupancy and good levels of revenue to r epay the loan of $2.4 billion? Mr Ingraham queried. "And if I am having dis c ussions about the question o f repaying a loan of $200 million that is dragging on and on, does that raise anyq uestion that I ought to be concerned with? These are all matters that the Government has to be concernedw ith. Noting that the former Hotel Corporation-owned Radisson hotel cost $120 m illion to build, but was sold to Baha Mar by the former C hristie government for just $30 million, along with the l and on which that property and the neighbouring Wyndham sit, Mr Ingraham also p ointed out that the Cable Beach projects Heads of A greement stipulated that it would have world-class equity and casino partners. B aha Mars resort and casino partners were curr ently unknown, something that Mr Ingraham expressed concern with, given the i mportance of the hotel brand in attracting guests and sustaining a world-class, viable resort operation. P ointing to the experience o f Our Lucaya, a wonderful resort that was often nearly empty, with 20 perc ent occupancy levels and workers on one and two-day weeks, the Prime Minister said: The branding of sucha facility would be critical from the Bahamas government's point of view. C M Y K C M Y K BUSINESS PAGE 4B, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM % DKDPD*ULOOLVVHHNLQJDQHQHUJHWLFSHUVRQDEOHDQGKDUGZRUNLQJ PDQDJHUIRULWVUVWORFDWLRQ%DKDPD*ULOOLVD)DVW&DVXDOUHVWDXUDQWZLWKDIHZVHDWVIRU FRQYHQLHQFHVHUYLQJJRRGIUHVKKHDOWK\,VODQGIRRGIDVWDWD U HDVRQDEOHSULFHLQDFOHDQIULHQGO\SURIHVVLRQDOHQYLURQPHQW7 KHPHQXLQFOXGHV+LFNRU\PRNHGRUN%DE\%DFNDQG%HHILEV ULOOHG%%4DQGRWLVVHULH&KLFNHQDQG*ULOOHG&RQFKDORQJZLWKD Y DULHW\RILVODQGVLGHV7KHLGHDOFDQGLGDWHZLOOSRVVHVVDPLQLPXPRI \HDUVUHVWDXUDQWPDQDJHPHQWH[SHULHQFH:HDUHORRNLQJIRUDOHDGHU ZKRKDVWKHDELOLW\WRLQVSLUHDQGPRWLYDWHWKHVWDIIWRDFKLHYHWKH K LJKHVWOHYHOVRIIRRGTXDOLW\DQGJXHVWVHUYLFH 6 EDKDPDJULOO#FRUDOZDYHFRPZZZEDKDPDJULOOFRP 0XOWLQDWLRQDO&RPSDQ\ LV ORRNLQJIRU 7DOHQWHG&DQGLGDWHV ZKRVHHN ([FHSWLRQDO&DUHHU'HYHORSPHQW75$,1((*5$0 Shareholder deal needed for $200m Baha Mar solution F ROM page 1B HUBERT I NGRAHAM Share your news The T ribune wants to hear from people who are making news in their neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.
portedly ordered the audit at the heart of the dispute, wouldbe unable to testify during the American Arbitration Association hearing, even though he was in the US. And they are also claiming that another former Plainfield employee, who was RHS Ventures main contact point in their South Ocean dealings, was coerced into signing a false affidavit claiming that Mr Stein misappropriated partnership funds because the hedge fund was threatening to withdraw his severance pay and health insurance benefits. Delaying Plainfield is likely to view the submissions as merely another 11th hour delaying tactic by Mr Stein in his bid to stop the New York courts ratifying the arbitration award, but the whole episode again indicates how a valuable Bahamian resort and real estate parcel are likely to be tied up in legal knots for years, with no develo pment in sight. Even if it wins the court battle, the Government is likely tobe reluctant to deal with Plainfield, given the numerous investigations being conducted into allegations made against the hedge fund. In turn, Plainfield has alleged t hat much of the unfavourable publicity it has received, and the investigations, have been orchestrated by Mr Stein. In an affidavit filed with the New York Supreme Court reg istry, Mr Stein alleged that Niv Harizman, a Plainfield partnerand the-head of its corporate f inance division, ordered the September 15, 2008, audit of the South Ocean projects records despite having headed the hedge funds team on the Bahamian resort development for just one week. The audit and its outcome, which saw Plainfield attempt tor emove Mr Stein and RHS Ventures as general partner for cause, sparked the arbitration and subsequent claims and counter-claims between the two parties. It has been and remains respondents position that Harizman orchestrated a sham a udit with a pre-determined outcome in order to effectuatea fabricated for cause removal of respondents as general partner of the partnership and, more importantly, to wipe out respondents entire equity posi tion in the partnership and my personal investment of $5 mill ion, Mr Stein alleged. Another affidavit, this time from the attorneys for Mr Stein and RHS Ventures, which was filed in the New York courts in the past week, alleged that they had wanted to examine Harizman during the arbitration hearing on several issues, including what was purported t o be a Plainfield conspiracy to remove the general partner. They alleged that Harizmans e-mails showed he was attempting to bring other developers into the partnership to take over for Stein without Steins knowledge, and that Plainfield was attempting to t ake complete control over South Ocean. Mr Steins attorneys also alleged that Plainfield analysed the benefits of removing him as general partner in a memo produced eight days before the September 15, 2008, audit wasc alled for, and that the hedge fund had held discussions on t he issue seven weeks before that date. He [Harizman] was also at the centre of efforts to negotiate with a third-party lender the restructuring of the entire real estate property at issue int he partnership to the exclusion of RHS Ventures which was, a t the time, still general partner, Mr Stein alleged. In fact, weeks before Hariz man even ordered the audit, he wrote numerous e-mails to other individuals within Plainfield Asset Management discussingt he removal of respondents as general partner, as well as taki ng over the entire development from respondents. There were also allegations that Plainfield and Mr Hariz man discussed the restructur ing of the South Ocean with the third player in the resort project, the Canadian Commercial Workers Industry Pension Plan (CCWIPP times has been unsuccessfully trying to foreclose on the prop erty, claiming there has been a default in repaying the $102 million owed to it. However, after being repeat edly told by Plainfields attorneys that Harizman would not be in the US during the arbi tration hearing, Mr Stein alleged that his legal counsel decided not to examine him or get him to testify. Yet RHS Ventures is now alleging that he was in the US for much of the hearing. And Mr Stein also alleged that a former Plainfield managing director Eric Reehl, had told him on August 13, 2010, that he signed an important affidavit under significant duress and coercion from the hedge fund, which had purportedly threatened to withhold his health insurance benefits and severance pay. Affidavit Mr Stein alleged that the Reehl affidavit was a key factor in the arbitration hearings, and relied on heavily by the panel in its decision, as it was used by Plainfield to back up allegations that RHS Ventures had mis-a ppropriated and converted for personal use funds intended to be used in furtherance of the South Ocean project. The RHS Ventures head alleged that in their August 13 conversation, Reehl backed his version of events by confirm ing that he had approved many of the expenditures made. And he claimed this was corroborated by another former Plainfield employee, August Ceradini, RHS Ventures other principal contact point over the South Ocean development. During a conversation I had with Ceradini on May 27, 2010, h e confirmed the falsity of specific portions of the Reehl affidavit, particularly the portions concerning my misappropriation of $1.5 million intended for the purchase of several properties adjacent to the partnership property, and my supposed rental of a villa for non-business purposes, Mr Stein alleged. Ceradini and I had another more recent conversation on August 25, 2010, during which Ceradini said to me that, in fact, the whole Reehl affidavit was a lie, and that Reehl signed the affidavit under duress. v ery compelling. Mr Rolle said the Strategic Plan recommended that the merged Chamber/BECon entity move to appoint a full-time president and chief executive as the functioning head of the organisation, as opposed to the structure we have now with an e lected president and full-time executive director. The presidency will become a paid position, and there will be a chairman of the Board. Another recommendation, Mr Rolle added, was for the unified organisation to move away from the committee struct ure and create divisions. The committee structure has been in place for ever. Divisions Explaining to Tribune Business that the move to establish divisions, each with their own head, was an attempt to mode rnise our approach and institutional apparatus, Mr Rolle said: The Board will be required to work a little more than they have in the past, but thats service. One division to be established within the merged Chamber/BECon entity will be labour, the Chamber president adding that it would be very important to retain the responsibilities the latter organisation had for dealing with employment-related issues. I think were well on our way to creating the organisation that will take us into the future, Mr Rolle said. Were telling people about the way to run their businesses and their need to change, and we havent demonstrated that yet. Were giving advice, and are now taking our own advice, building an organisation thats relevant. The Chamber president added that the merger with BECon was essential to the business community and the survival of both entities. He pointed out that offering value-added services, such as the Chamber Institute, was crucial to the merged organisations survival, as the current recession had shown it could not survive on membership subscription revenues alone. C M Y K C M Y K BUSINESS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM /RYH%HDFK&RWWDJH Chamber/BECon merger eyes New Years Day finish FROM page 1B $5m wipe-out via sham audit FROM page 1B
N EW YORK T he dollar hit another five-month low against the euro on Wednesday because of concerns that the Federal Reserve might take further action to boost the economy that would weigh on the dollar, according to Associated Press The dollar also slid against most other currencies. The euro rose to as high a s $1.3653 Wednesday, its h ighest point since midApril. In midday trading in N ew York, the euro traded at $1.3639, up from $1.3567 late Tuesday. T he euro has risen even a s fears about the 16-nation e urozone's debt crisis persist. T he Fed has signaled that it is ready to take more a ctions to support the falt ering U.S. recovery. M any analysts expect the central bank to move this year to buy more Treasurys,l ifting bond prices and lowering yields. That would make the U.S. currency less appealing to i nvestors. T he dollar has declined b roadly, not just against the e uro, in September. A measure of the dollar against six other heavily traded currencies is at its lowest level since January. "The dollar's slide is not over and bounces are expected to be shallow and short-lived," said currency analysts from Brown Brothers Harriman in a research note Wednesday. In other trading Wednesd ay, the dollar dropped to 8 3.60 Japanese yen from 83.93 Japanese yen, while t he British pound rose to $1.5800 from $1.5793. The dollar edged up to 1.0312 C anadian dollars from 1 .0311 Canadian dollars. It f ell to 0.9754 Swiss francs from 0.9767 Swiss francs,e arlier in the day notching its most recent 2 1/2 year l ow at 0.9735 Swiss francs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he president of the World Bank says organizations such as his can learn from the experiences of nations with successful e merging economies, a ccording to Assoc iated Press. Robert Zoellick said the bank needs to r ecognize that development knowledge, its specialty, is no longer the sole province of scholars. He spoke Wednesday at Georgetown University ahead of next week's annual meetings of the bank and the International Monetary Fund. Zoellick said even before the global economic crisis, there was a questioning of prevailing ideas, a sense that development economics needed rethinking. He said the bank must throw open its doors and data to others who can find and create their own solutions. Dollar continues to slide, at 5-month low vs euro INTERNATIONAL BUSINESS Bank Chief: Development economics needs change
GREG KELLER, AP Business Writer PARIS European car makers are looking to a bevy of fuel-efficent, lower-emissions models going on display at the Paris Auto Show this week to weather a depressed market and tough new EU pollution standards, according to Associated Press It has been a miserable two years for the industry since the last Paris show in 2008, as the industry faced the worst economic slowdown since the Great Depression. But while the worst of the global recession is past, car makers are aware that their market has changed. Consumers remain cautious and environmental rules are more stringent and the auto industry hopes hybrids and electrics will be a big part of the way forward. The spotlight will center on hometown favorites Renault and PSA Peugeot Citroen, both of which will unveil road-ready hybrid and electric cars or light trucks to the hundreds of thousands of visitors expected to attend the show between Oct. 2 and Oct. 17. Among the most anticipated unveilings will be Peugeot's 3008 HYbrid 4, the world's first full diesel hybrid vehicle, and R enault's Fluence Z.E. (for "zero emissions"), an all-electric mid-size sedan. European car makers especially are under fierce pressure to sell smaller and less-polluting cars and light trucks to meet tightening European regula-tions on carbon dioxide emiss ions. "The Future, Now" is the slogan organizers have chosen for this year's edition of the show, which holds two days of media previews starting Thursday before opening to the public on Saturday. The show which dates b ack to 1898, making it the world's oldest will feature about 100 world and European premieres, organizers promise. Car makers have been flaunt ing technologies aimed at cut ting or eliminating carbon dioxide emissions from their vehi cles at every major car showsince the last Paris gathering in 2008. But this time more and more will be models headed for showrooms, not concept or idea cars. "Maybe access to marketready electric vehicles is goingto be the big news in Paris," said Carlos Da Silva, a senior market analyst at industry fore casters IHS Global Insight in Paris. "It will be a very "green" show," Da Silva said in an interview. Other ready-to-roll green machines on display include Peugeot's iOn, Mitsubishi's iMiEV and the Nissan Leaf. Besides the 3008, PSA Peu geot-Citroen plans to launch the Citroen DS5 Hybrid as part of its goal to have 1 million cars in its fleet below 120 grams of carbon dioxide per kilometer by 2012. That is in-line with similar targets set by other car m akers as they seek to meet an EU deadline for reducing their carbon emissions, Da Silva said. Global car production fell 17 percent over 2008 and 2009, dropping to 57 million vehicles last year. Scrapping schemes introduced after the crisis helped support European car m akers and their suppliers, but now that they're being withdrawn growth is stalling in the region. Car sales in Europe will drop to 17.7 million this year from 18.2 million in 2009, according to J.D. Power Automotive Forecasting, which expects sales to stagnate around that level next year as well. Production will rebound to its pre-crisis lev-e l of 69 million vehicles this year, Autofacts predicts, but nearly all that growth will come from China and North America. By the time of the next Paris show in 2012, for the first time ever more than half of the world's car production will bei n emerging markets such as China, Brazil and India, said Gerard Morin, head of PwC's automobile consultancy in France. B y 2020, CEO Phillipe Varin thinks hybrids will grab as much as 15 percent of the market. That's more optimistic than the forecasters at PricewaterhouseCooper's Autofacts consultancy, which sees electric cars capturing a mere 1 percent of the global car market by2 016. Hybrids may reach 4 percent market share by then, Autofacts predicts, leaving a full 95 percent of the market to traditional internal combustione ngines. By 2020, electric vehicle production is likely to hit only 1.5 million units, according to Autofacts, as the infrastructure to recharge the cars' batteries, as well as the batteries' expense and limits to their autonomy hold back wider adoption of the cars by con-s umers. C M Y K C M Y K INTERNATIONAL BUSINESS T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Emissions rules hang over Paris car show ( AP Photo /Francois Mori) ONDISPLAY: The Peugeot electric Light City Car or VLV built in 1941 is displayed at the Peugeot showroom on the Champs Elysee in Paris Wednesday, Sept. 29, 2010 ahead of the opening of the Paris Auto Show. To offset the lack of fuel and materials during World War II, Peugeot designed 377 small electric vehicles enabling two people to get around within a limited range of approximately 70km.
M ENOMONEE FALLS, Wisconsin Kohl's Corp. is opening 21 new stores in 15 states, creating almost 3,000 jobs, according to Associated Press The openings come at a time when the U.S. unemploymentl evel remains high and shoppers worried about dismal eco nomic conditions continue to seek out the low-priced clothing and home items that stores such as Kohl's offer. The announcement comes a day after rival J.C. Penney Co. s aid it would open three new stores next year as part of a long-term plan to boost sales and reach more middle-income shoppers. Kohl's new stores are located in Alabama, California, Florida, Illinois, Kansas, Kentucky, Louisiana, Maryland, Minnesota, Missouri, Nevada, New Mexico, New York, Ohio and Pennsylvania. The retailer also said Wednesday that it opened a customer-service and opera tions center in San Antonio that will serve its credit card and online customers. The facility has hired about 200 workers and plans to add more than 1,000 jobs over the next three years. Kohl's has two other customer service and operations centers in Corsicana, Texas and Menomonee Falls, Wis. Aside from the new stores, Kohl's is remodeling 85 existing locations. Earlier this month the company based in Menomonee Falls, Wis., reported a key revenue figure climbed 4.5 percent in August on strong sales of its home and men's merchandise and footwear. Kohl's now has 1,089 stores in 49 states. NEW YORK Oil prices rose Wednesday after the government reported inventories fell last week. Thereis still plenty of oil on hand, as supplies remained well above the five-year average, according to Associated Press Benchmark crude for November delivery gained $1.20 at $77.38 a barrel in midday trading on the New York Mercantile Exchange. The Energy Department said commercial crude inventories decreased by 500,000 barrels to 357.9 million barrels, according to the Energy Information Administration said. The total was about 5.7 percent above year-ago levels. Gasoline inventories shrank by 3.5 million barrels to 222.6 million barrels, 5.3 percent above year-ago levels. Demand for gasoline over the four weeks that ended Sept. 24 averaged 9.1 million barrels a day, an increase of nearly 1 percent from the same period of 2009. Inventories of distillate fuel, which include diesel and heating oil, fell by 1.3 million barrels to 173.6 million barrels, which was 1.5 percent above year-ago levels, the government reported. "The face value of the report looks price supportive. However, even after these draws, we still have huge supply surpluses anywhere you look," said oil analyst Jim Rittersbusch, president of Ritterbusch and Associates. "Everybody's yawning again, and going back and watching to see what the stock market does." The oil market has remained stable, with September prices ranging between $73 a barrel and $78 a barrel. It's a trend analysts expect to continue as traders wait for signs of an improving economy and stronger demand that would tap into supplies. Traders have been watching stock markets for clues about the recovery in the months ahead. The Dow Jones Industrial Average, S&P 500 and the Nasdaq were all slightly lower after worries about Europe resurfaced with protests in Brussels, Spain and Ireland over austerity measures aimed at preventing another fis cal crisis. In other Nymex trading in October contracts, heating oil rose 4.55 cents to $2.1700 a gallon and gasoline gained 2.86 cents at $1.9765 a gallon. C M Y K C M Y K INTERNATIONAL BUSINESS PAGE 10B, THURSDAY, SEPTEMBER 30, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.2500.0404.03.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3 .493.15Bahamas Waste3.153.150.000.1680.09018.82.86% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.7710.770.001.2120.3108.92.88% 2 .842.50Colina Holdings2.502.500.000.7810.0403.21.60% 7.005.40Commonwealth Bank (S1)6.286.600.321,0000.4220.23015.63.48% 3.651.63Consolidated Water BDRs1.851.960.110.1110.05217.72.65% 2.551.60Doctor's Hospital1.901.900.000.1990.1109.55.79% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.208.50Finco8.508.500.000.2870.52029.66.12% 11.408.77FirstCaribbean Bank9.749.740.001000.6450.35015.13.59% 5.513.75Focol (S)5.465.460.001500.3660.17014.93.11% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.92J. S. Johnson9.929.920.000.8830.64011.26.45% 10.0010.00Premier Real Estate10.0010.000.000.3550.80028.28.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 1 00.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-23201 9 October 2022 Prime + 1.75% P rime + 1.75% 6 .95%20 November 2029TUESDAY, 28 SEPTEMBER 2010B ISX ALL SHARE INDEX: CLOSE 1,516.85 | CHG 16.31 | %CHG 1.09 | YTD -48.53 | YTD % -3.10BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 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 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 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 1.49041.4005CFAL Bond Fund1.49043.59%6.42%1.475244 2.92652.8266CFAL MSI Preferred Fund2.91150.85%0.23%2.926483 1.55431.4920CFAL Money Market Fund1.55433.11%4.36%1.533976 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.42860.46%2.40% 109.3929101.6693CFAL Global Bond Fund109.39295.20%7.60%107.570620 105.779593.1998CFAL Global Equity Fund100.1833-1.52%3.56%105.779543 1.12231.0000FG Financial Preferred Income Fund1.12723.43%5.28% 1.09171.0000FG Financial Growth Fund1.09482.51%6.10% 1.11981.0000FG Financial Diversified Fund1.12753.37%5.64% 9.59559.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.59552.71%5.96% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.3734-3.69%3.38% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.1708-8.29%-8.29% 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.5827-1.74%11.58% 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 7/11/200731-Aug-10BISX Listed Mutual FundsNAV Date 31-Jul-10 31-Aug-10 31-Aug-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 242-502-752531-Jul-10 30-Jun-10 31-Aug-10 17-Sep-10 31-Aug-10MARKET TERMS31-Aug-10 NAV 6MTH 1.452500 2.906205 1.518097 103.987340 101.725415 30-Jun-10 31-Aug-10 31-Jul-10 31-Aug-10 <$&+7)25$/(%<7(1'(5<$&+7.$/,.,5127,&(762/'%<7(1'(538568$17725'(5 7+(6835(0(&28577+( %$+$0$60$'(7+(5(,1217+($8*867 7+(<$&+7.$/,.35(6(17/< %(57+('$7%52:16%2$7%$6,11$66$8 (17$,/67+()2/2:,1*3$57,&8/$56 < %XLOG< 'LPHQVLRQV/2$ 7: 0DLQ (QJLQHV,QERDUG9'ULYHW\SHf [ %RZ7KUXVWHUHWXVf [ :HVWHUEHNH*HQHUDWRU )XUWKHUSDUWLFXODUVRIWKHYHVVHOWKHFRQGLWLRQVRIVDOH DQGDUUDQJHPHQWIRULQVSHFWLRQPD\EHDWWDLQHGIURP %DKDPDV0DULWLPH&RQQH[LRQ/LPLWHG-RDQ+HLJKWV 1DVVDX7KH%DKDPDV3KRQH RU )D[(PDLO JOHQEDLQ# PDULWLPHFRQQH[LRQFRPRUJOHQEDLQ#KRWPDLOFRP7+($%29(3$57,&8/$56$1'$1<)857+(5 3$57,&8/$567+$70$<*,9(1%<7+( $'0,5$/7<0$56+$/$5($1':,//*,9(1 ,1*22')$,7+$1'125(63216,%,/,7<&$1 $&&(37(')257+(,5$&&85$&<,7,6(1&80%(17 8321$//,17(5(67('385&+$6(5670$.(7+(,5 2:1,1'(3(1'(17(148,5,(67(1'(560867680,77('%<6($/(' (19(/23(0$5.('(1'(5)25<$&+7 .$/,.$1'6+28/'5($&+7+(2)),&( 2)7+($'0,5$/7<0$56+$/12/$7(5 7+$1)5,'$<2&72%(5$77+( )2//2:,1*$''5(66 7KHIFHRIWKH$GPLUDOW\DUVKDO 3 3ULQFH*HRUJH:KDUI 1DVVDX 7KH%DKDPDV 7+($'0,5$/7<$56+$/(6(59(67+( 5,*+772(-(&7$1<$1'$// 6LJQHG&RPPDQGHUDWULFNF1HLO $GPLUDOW\ 0DUVKDOf 14thAmericas Food&Beverage Show&Conference For information contact Omar Gonzalez at firstname.lastname@example.org. Great airline and hotel discounts available.October26-27,2010M iamiBeachConventionCenterM EET +350 exhibitors from +27 countries WITNESSthe Americas Chef Competition, where Olympic Chefs try to conquer the AmericasVISIT20 international pavilions, offering unique products and servicesNETWORKwith 6,000 food and beverage buyers from 63 countries under one roofBENEFITfrom a one stop opportunity for ideas, products and business Attend theRegister NOW:www.americasfoodandbeverage.comDONT MISSthe Taste of Peru Pavillion & +$5,60$ 0 (/,6+$52//(RI(0(5$/'*$5'(11$66$8 %$+$0$6 N EWJOBS: I n this Nov. 11, 2009 file photo, headlights and tail-lights of cars, stream past the Kohls store in Aurora, Ohio. Kohls Corp. said Wednesday, Sept. 29, 2010, it is opening 21 new stores, creating almost 3,000 jobs in 15 states. Oil prices climb after crude supplies decline A P P h o t o / A m y S a n c e t t a f i l e KOHLS OPENSNEWSTORES,CREATES NEARLY 3,000 JOBS
C M Y K C M Y K INTERNATIONAL BUSINESS TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T HE TRIBUNE THURSDAY, SEPTEMBER 30, 2010, PAGE 13B CARLO PIOVANO, Associated Press Writer LONDON European and U.S. markets fell Wednesday as labor protests across the EU fueled worries about countries' ability to cut heavy debt loads, offsetting any optimism about a possible economic boost from the Federal Reserve, according to Associated Press Demonstrators marched in Brussels, the heart of the EU, as well as Spain, Ireland and Portugal as labor unions protested against spending cuts they say unfairly penalize average workers for problems and debt caused by banks. The social unrest has raised concerns that countries like Spain, whose debt some say could be downgraded again soon, will not be able to implement the policies required to heal their bloated public finances. Britain's FTSE 100 closed down 0.2 percent at 5,569.27, while Germany's DAX was 0.5 percent lower at 6,246.92. France's CAC-40 ended 0.7 percent lower at 3,737.12. Asian markets closed higher earlier, supported by growing speculation that the Fed might announce further stimulus measures at the end of a Nov. 2-3 meeting in a bid to shore up the recovery in the U.S. economy. But Wall Street followed Europe lower. The Dow industrial average was down 0.2 percent at 10,837.59 and the Standard & Poor's 500 was 0.2 percent lower at 1,145.24. Worries have flared up again this week that Europe will not be able to lower its deficits and simultaneously sustain economic growth and keep failed banks from collapsing. In Ireland, where the government is struggling to manage Anglo Irish Banks' euro72 billion ($97 billion ing debts, protesters parliament's gates with a truck. In Spain, workers staged a genera l strike and in Brussels tens of thousands marched toward the main EU buildings, where the EU executive was gathering. The Commission proposed new rules to sanction countries that break deficit rules. Labor unions say this will push governments to force through spending cuts that will unjustly penalize workers for a crisis caused by the bailed-out financial sector. While Germany and the Commission are for tougher rules, France is against nearautomatic sanctions, saying politicians, and not unelected officials in Brussels, should determine government policy. Corporate news did not offer much support to European investors, with Swedish fashion retailer H&M warning that its store openings for the rest of the year would be slowed by delayed construction projects. Although it reported higher profits, the announcement pushed shares down more than7 percent in Stockholm. In Asia, markets closed higher as investors focused on the likelihood that the Fed would help the U.S. economy. European strikes weigh on world stock markets FLAMESOFPROTEST: A worker burns tires in front of Mercabarna (General Market eral strike in Barcelona, Spain, early Wednesday, Sept. 29, 2010 to protest the budget-slashing plans and austerity measures of governments seeking to control debt. INTERNATIONAL BUSINESS A P P h o t o / M a n u F e r n a n d e z ROADRAGE: A notice reading end in greek to indicate the l ast of the unleaded fuel as a w oman tries unsuccessfully to f ill the fuel tank of her car, M onday, Sept. 13, 2010. A new wave of protests began Mon d ay, with truckers declaring a work stoppage and parking hundreds of vehicles along major highways to protest p lans to liberalize their profes s ion. Motorists formed long lines at gas stations on Sunday a nd Monday, fearing a repetition of a weeklong strike in July that left pumps dry across the country for days. ( A P Photo / Evi Zoupanou)
Religious news, stories and church events THURSDAY September 30, 2010The Tribunes RELIGION SECTION PG 24
By ALESHA CADET Tribune Features Writer THE Ministry of Tourism yesterday discussed its latest efforts to tap into the lucrative religious tourism market by announcing a new networking partnership with prominent American pastors.At a press conference at the British Colonial Hilton, Bishop Paul S Morton, Sr, the founding Presiding Bishop of one of the fastest growing movements in America, The Full Gospel Baptist Church Fellowship International, said he is looking forward to networking in the Bahamas. "I am glad I have had the opportunity to be involved in quite a number of conferences coming to the Bahamas historically over the last ten, fifteen years and it has truly been a great experience. I think we stand here being able to say to all of you, members of the press, of course The Ministry of Tourism and to the government, that we all believe in building," he said. Bishop Morton continued: For too long we have not looked at ourselves economically as a people who have accessed that need to come together. The islands of the Bahamas, not just here in Nassau but the islands of the Bahamas are very intriguing to us. We look forward again as others would have said to bringing our individual groups here but also to do something collectively and significant that we believe would bring great partnership between our ministries in America and the wonderful Bahamas. We thank God for you, the invitation and we thank God for the opportunity," he said. Pastor Zachary Tims, the American Christian evangelist who is also an inspirational speaker, and co-pastor of the New Destiny Christian Center said: I want to thank God for the outreach of the Ministry of Tourism and the great spiritual outreach of Bishop Neil Ellis. I too have had the privilege to be here on many occasions, and experience the loving nature of the people of the Bahamas. I see no reason not to further expand our interest here through our conferences and networking opportunities. We do so around the nation of America why not bring it over to the Bahamas I look forward to working with all the parties involved and again I thank God for the great leadership and looking forward to a great networking partnership," he said. Director General of Tourism The TribuneThursday, September 30, 2010 PG25RELIGION The Ministry of Tourism continues to tap into religious tourism marketSEE page 26 PASTOR ZACHARY TIMS BISHOP PAUL S MORTON
By ALESHA CADET Tribune Features Writer A WEEKEND of exciting events is slated to begin this Friday, October 1, with a high-powered gospel concert featuring some of the hottest gospel groups at the Pinewood Park. According to the Pinewood Community Outreach group, the fact that there are seventy recorded homicides in The Bahamas to date shows that people in this archipelagic nation are suffering and are in need of answers and action. In a statement, the group said that the Pinewood Community Outreach group, the Pinewood Urban Renewal Office and Member of Parliament for Pinewood Byran S Woodside have joined together to present the second annual Stop The Violence weekend event at the Pinewood Park. There will be a candle light vigil to remember all the victims of crime and to pray for their families. Bishop George Barr Jr also makes a call for all churches in the southeastern district to show their full support for this event that reiterates messages of peace and love. Ken Johnson of Christian Massive recalls how their group was formed in response to crime seventeen years ago, and how the group's message is still relevant today. This particular event is designed to unite the Pinewood Community, encouraging residents to take a stand against crime. The wider public is also invited to participate in these efforts and join in all the fun that organisers have planned. Saturday, October 2, will officially kick off with a fun run/walk at 6 am. The park will then become the venue of a family festival. There will be free health screenings including blood pressure and cholesterol checks. The Pinewood Outreach Group invites the Pinewood men to show neighborhood spirit by participating in dominoes and backgammon tournaments, as well as basketball and other games. The highlight for the kids will be the large double slide and other rides, as well as face painting, hoopla and other games. By nightfall, the park will come alive with a concert featuring Pinewood's own up and coming talent, along with a few Bahamian professional artist. There will be a rake and scrape band, hip-hop artists, amazing singers and other acts. Organisers want Pinewood and the wider public to come together in solidarity, have clean, family fun, and implement ways to combat crime in their daily life. Constable Chester walker of the Southeastern Division of Police explains that his officer in charge has a unique approach to dealing with students who get in trouble. The officers aim to instill positive messages into the lives of young people rather than seeking to arrest them, which could lead to a record and affect their careers. The Tribune PG26 Thursday, September 30, 2010RELIGION Vernice Walkine especially thanked Bishop Neil Ellis of Mount Tabor Full Gospel Baptist Church for his role in putting it all together. This is not at end, this is a beginning in terms of this opportunity but Bishop Ellis and I have been working together for the last couple of years trying to do a number of things and this is a good example of a successful outreach. That's why I am very thankful to him. He has given me the opportunity to pull this together so that we can talk about some real opportunities for business for the islands of the Bahamas," she said. Bishop Ellis said: "What really came out of this meeting is this group plus one or two others that were supposed to be here, they will come together to seek to bring off a corporate event of several persons They will also work on small groups coming from their own ministries. In terms of date, we have not set dates yet but we know where we are headed from here." Earlier this year the Ministry of Tourism also announced it's new networking partnership with prominent American preacher Pastor Paula White. Ms White, who serves as senior pastor of the Without Walls International Church in Tampa, Florida, said "being in the Bahamas has been an amazing experience."FROM page 25Religious tourism Pinewood Community Outreach group presents Stop The Violence BYRAN WOODSIDE
WHENwe drive toward a light that has been green for some time, we often make a little more of an effort "to catch the light."If we are at the stop sign and we pause for a second after the light changes, very often the motorist behind us will signal rather loudly with a blast of the horn to get us moving. In both instances, there is a response to the colour green that gets us in motion. The same is true for this green season in the church when we have a number of Sundays between Pentecost and Advent. The altar cloths and the vestments are green and themes of growth and ministry are often highlighted. It is a time to ask the Holy Spirit to inspire us to enthusiastic worship and service. If we take seriously this invitation to exert some energy, we will find ourselves accepting God's call to more committed participation, to develop a gift, or explore a blessing more intentionally. When the light is green, we do not need to hold back or lag behind. It is our time to move forward with confidence and conviction. The prayer or collect for The Sunday closest to August 24 in our Anglican Lectionary begins: "Grant, O merciful God, that your Church, being gathered together in unity by your Holy Spirit, may show forth your power among all peoples, to the glory of your name." The key words to note are: unity, power and glory. Our response to God encourages others to follow just as we lead the line of traffic through an intersection if we are the first automobile. The collect for September 21 is "Grant us Lord, not to be anxious about earthly things, but to love things heavenly; and even now, while we are placed among things that are passing away, to hold fast to those that shall endure." This offers a red light on anxiety and green light on faith. Consider the power of Isaiah's appeal in Is. 51:1-6: "Listen to me, you that want to be saved. Think of the rock from which you came, and the quarry from which you were cut. Think of your ancestor, Abraham and of Sarah from whom you are descended. When I called Abraham, he was childless, but I blessed him and gave him children; I made his descendent numerous Listen to me, my people, listen to what I say; I give my teaching to the nations, my laws will them light" (Is. 51:12, 4 TEV). Psalm 138 immerses us in the experience of one who truly loves God: "I will give thanks to you, O Lord, with my whole heartWhen I called, you answered me, you increased my strength within meThough the Lord be high, he cares for the lowly...The Lord will make good his purpose for me" (v. 1, 4, 7, 9 NRSV). Paul's letter to the Romans contains this ecstatic exclamation: "O the depth of the riches and wisdom and knowledge of God! How unsearchable are his judgments and how inscrutable his ways! "For who has known the mind of the Lord? Or who has been his counselor? Or who has given a gift to him, to receive a gift in return?" For from him and through him and to him are all things. To him be the glory forever. Amen" (Rom. 11:33-6 NRSV). Who do you say that Jesus Is? Is He the green light that leads you on to glory? Is He your Messiah and Lord, your healer and teacher, your all in all? If so you are on the right road. MEDITATION The TribuneThursday, September 30, 2010 PG27RELIGIONCatching the green light for Jesus REV.ANGELA C BOSFIELD PALACIOUS ONSunday, September 12 more than 300 worshippers celebrated Rev Philip Stubbs 50th birthday during a special worship service and reception at St Michael's Methodist Church. Rev Stubb's wife Schell was host and coordinator of the event. Rev Stubbs Sr who has been the senior pastor of the church since 1994 delivered the sermon. He also celebrates the successful completion of his Doctor of Ministry degree from Garrett Evangelical Theological Seminary at Northwestern University in Evanston, Illinois. In his sermon Rev Stubbs, cited reasons for being thankful. "It is God's nature to bless. And I, hopefully along with each of you am thankful today because of God's blessing. God's blessings are abundant in my life. Family, friends, sustenance are key blessings. Christ as my personal Savior is what I am most thankful for today." The Minister indicated that after half a century of living he appreciates that sharing comes from having a thankful heart. Worshippers were drawn into sharing as Rev Stubbs gave 100 flowering plants one for each household. THANKS: Philip Stubbs delivers a sermon on thankfulness during his 50th birthday celebrations.A community celebrates a pastors 50th birthday
PG28 Thursday, September 30, 2010The Anglican Church Women Council will hold its 8th Annual Young Ladies Seminar under the theme The Changing Scenes of Life, for young ladies between the ages of 13 to 18 years at the Holy Trinity Activity Center, Stapledon Gardens on Saturday October 2, from 8.30 am to 3.30 p.m.The purpose of this year seminar is to assist young ladies in making right choices in life and to ensure that they are aware that with God as their guide they can manage the pressures of in life. The young participants of this seminar will be exposed to a number of speakers who will speak on topics such as: Spirituality Matters With God as My Guide Work Life and Achievement: Personal Qualities that Bear Good Fruits Etiquette and Social Awareness: Presenting Yourself Well Health and Wellness Matter: Taking Care of Yourself Relationships and Family Life: What Works Your Road Map into the Future: Developing Clarity. This year's facilitators have a well versed and distinguished background. They include Court of Appeal president Dame Justice Dame Sawyer, Fr Mervyn Johnson, Phyllis Garraway, Dr Eveneth McPhee and Charlene Rodgers just to name a few. The organizers of this event expect a large number of young ladies from all walks of like to participate in this exciting event which is open to ALL young ladies in the Commonwealth of The Bahamas especially young ladies of the Anglican faith. The event is free and participants are guaranteed to leave this event filled with information that will be very helpful to them in their everyday life. The Tribune RELIGIONThe Anglican Church Women Councils Eighth Annual Young Ladies Seminar ADVICE: Bishop Boyd giving words of advice to the young ladies. INSPIRATION: Ayoung lady inspiring the young ladies at last years seminar held at St. Annes Church, Fox Hill.
WHATis God's view of smoking? People addicted to cigarettes are quick to point out that the Bible say nothing about smoking. This is simply not true.The Bible is a book of Law. The laws when obeyed produce great happiness. Biblical laws regulate health, family, diet, child rearing and morning. If people would follow these laws, they would live an abundant life. Yet mankind consistently chooses to violate the laws! It is true that nowhere in the Bible does God say" Thou shalt not smoke". But in the sixth commandment He emphatically stated: "Thou shalt not murder." Exodus 20:13 ( Jewish Publication Society Translations). The question we need to answer is does smoking harm people? SLOW SUICIDE The clinical facts have been fully tabulated on smoking. There is no doubt that there is a direct relationship between smoking and lung cancer. Former U.S. Surgeon General C Everett Koop warned, "Cigarette smoking is clearly identified as the chief preventable cause of death in our society and the most important public health issue of our time. A pamphlet issued by the Surgeon General Office states that smoking: "causes more illness or death than all other drugs". One of the most current US Surgeon General warnings on a pack of cigarettes states: "Cigarette smoke contains carbon monoxide". Read the warning again! To inhale cigarette smoke is to inhale carbon monoxide! Nobody in a sane state of mind would purposely inhale carbon monoxide. To put it simply: smoking is suicide. If you smoke or use any other form of tobacco, you are doing so contrary to the serious warnings against such habits. When you smoke, you are wrecking your health. If you smoke then you are deliberately subjecting your body to serious physical harm. Here is a list of some of the chemicals found in unfiltered cigarette smoke:Carbon Monoxide Hydroquinone Methacrolein Methylalcohol Methylaninne Nickle Compounds Formaldehyde DDT Nicotine Hydrogen Sulfide Spilling these chemical into a water supply system would carry heavy fines for any business. Would anybody in their right mind put these chemicals into their body? If you are a smoker you are seriously polluting your own body and will pay a heavy personal penalty. Besides Lung Cancer, you could also be subjecting your body to other life threatening diseases such as: Bladder Emphysema Oral Cancer Tongue, Gums, Lips Skin Cancer Hardening of the Arteries (leads to Stroke) From God's point of view, is there really a difference between pointing a gun to your head and pulling the trigger or lighting a cigarette? No! Pulling the trigger on a gun usually brings death instantly. But smoking also brings death, slow agonizing death. Both are suicide if you smoke, the most important thing you can do for your health is to quit the poisonous habit immediately. IT'S NOT ALL ABOUT YOU Some argue, as long as my smoking doesn't harm anyone else, it is okay to continue the habit. But scientists have also proven that the secondary smoke produced by smoking is just as lethal for the non-smoker living in a smoker's environment. According to the US Department of Health Education and Welfare, second hand smoke contains twice as much nicotine, three times as much of a certain kind of Benozopyrene (a carcinogen), five times as much carbon monoxide (which robs the blood of life giving oxygen) and 46 times as much ammonia (A potent eye and respiratory tract irritant) as the smoke that smokers inhale directly from their cigarette. Many countries and many US states have banned smoking in public places for this reason. Smokers not only ruin their own health but the health of others as well. Harming others is another definite violation of the sixth commandment. JUST WHAT DO YOU MEAN SIN? Did you know that smoking is also a physical sin? You need to understand why. There are many examples in the Bible where Christ showed people that their problems were caused by sin. In one instance, people brought to Jesus a man lying on a bed. Christ healed him by forgiving his sin. Matthew 9:2 What sins were forgiven? The sins that caused the man to have palsy a physical sin. Could he have been an alcoholic? This example contains very important knowledge concerning health. God has set in motion many physical laws. Laws that regulate the function of our bodies, our health. If we break these laws we sin and get sick. This is a difficult truth for most people to accept. Healing is the forgiveness of physical sin. If we do harmful things to our bodies like eating improper foods, or even too much of the right foods (gluttony), we sin against our bodies, and a penalty is sickness. In some cases the penalty is only temporary but in other cases, it can mean permanent injury or death. Smoking and other uses of tobacco have been proven to be of a definite harm to the body. Smoking will cause permanent damage to your lungs, which God designed and created to give you life giving oxygen. How could a Christian justify smoking and then expect Christ to heal them of the illnesses related to smoking? YES YOU CAN STOP Many people say they cannot stop smoking. This is not true. Yes you can stop smoking. How? You must start by recognising that smoking is a sin. Smoking is an addiction as alcohol, cocaine and gambling. It is not easy but you can quit. Get counseling, throw away cigarettes, tobacco and things that focus your attention on smoking, such as lighters. There is a physical withdrawal and a psychological withdrawal which takes much longer. Avoid compromising situations. Avoid situation where you "lit up". Don't let other smokers, friends, relatives or stressful situation cause you to cave in to your old habits. Spend time with non-smokers and people who will support your efforts to remain free of cigarettes. Replace smoking with other activities, walking, cycling or swimming depending on age, health or athletic ability. Remember you can get rid of this life threatening habit. When you do you will live a better life physically or spiritually. Dr Cleland Gooding is a Skin Disease, Specialist with the Bahamas Government. The material for this article is taken from "The Philadelphia Trumpet" 2010. Email: Clegood5@hotmail.com The TribuneThursday, September 30, 2010 PG29RELIGIONIs smoking sin?
The Tribune PG30 Thursday, September 30, 2010RELIGIONA Solitary Place!MARK1: 35. And in the morning, rising up a great while before day, he went out, and departed into a solitary place, and there prayed. As believers, it's imperative that we follow the example of Yeshua Messiah (aka Jesus the Christ) who lived a prayer filled life; He consistently departed into a solitary place to pray. The answers to all of life's challenging questions, and the ability / power to overcome every test and trial that one faces today can only be obtained through a life of prayer and fasting. There is a universal cry for leadership (political and spiritual), also cries for employment, financial resolution, cries for the cures for sickness and diseases, and also the restoration and preservation of family values and morals. It is imperative that we, (the church, the ekklesia, ek-klay-see'-ah;) frequent that solitary place of prayer so that we can hear from God. In the natural realm it may appear as if the enemy / kingdom of darkness is prevailing due to the havoc that's being wreaked through various communities. Whereas in the spirit realm the enemy / kingdom of darkness has already been defeated; it's just a matter of the church spending time in that solitary place where God reveals wisdom and strategy for living the victories / abundant life that Yeshua spoke of in John10:10. Yeshua Messiah was a man of prayer thereby He was in constant communication with His Father; which enabled Him to make statements such as: "John 8:38. I speak that which I have seen with my Father: and ye do that which ye have seen with your father" "John11:41. Then they took away the stone from the place where the dead was laid. And Jesus lifted up his eyes, and said, "Father, I thank thee that thou hast heard me. : 42. And I knew that thou hearest me always: but because of the people which stand by I said it, that they may believe that thou hast sent me" As a believer; withdrawing from the crowd to that solitary place of prayer accompanied with fasting will always result in the greater works spoken of by Yeshua ( John.14:12). How much more of this would be manifested throughout our communities when two or three come into a committed agreement of spending time in that solitary place of prayer? Watch this Lk.5:15: But so much the more went there a fame abroad of him: and great multitudes came together to hear, and to be healed by him of their infirmities. : 16. And he withdrew himself into the wilderness, and prayed. It's good when the church comes together in corporate worship, conferences, seminars, workshops, etc; but nothing takes the place of that personal, quality time that's spent in prayer at the solitary place. Prayer is one of the most powerful weapons that a believer has at his / her disposal, through prayer great things are accomplished. Watch this The prophet Elijah got a word from the Lord for the King: 1Kings.18:1: And it came to pass after many days, that the word of the LORD came to Elijah in the third year, saying, Go, show thyself unto Ahab; and I will send rain upon the earth. After delivering the word to the king, the prophet went and prayed for the manifestation of the word he delivered (: 42) 1Kings.18: 41. And Elijah said unto Ahab, Get thee up, eat and drink; for there is a sound of abundance of rain. : 42. So Ahab went up to eat and to drink. And Elijah went up to the top of Carmel; and he cast himself down upon the earth, and put his face between his knees, In that solitary place the righteous prayer life is developed and becomes dynamic in its working. Amplified Bible: James.5:16b: The earnest (heartfelt, continued) prayer of a righteous man makes tremendous power available [ Dynamic in its working] : 17. Elijah was a human being with a nature such as we have [ with feelings, affections, and a constitution like ours]; and he prayed earnestly for it not to rain, and no rain fell on the earth for three years and six months. No matter what you're facing in life; the answer to all of your unanswered questions awaits you in that solitary place. For questions or comments contact us via E-mails:email@example.com or firstname.lastname@example.org or Ph.1-242-441-2021 Pastors Matthew & Brendalee Allen Kingdom Minded Fellowship Center Int'l. PASTOR MATTHEW ALLEN 45th Anniversary Service The rector, vestry and parishioners of Christ the King, Ridgeland Park wish to invite the general public to celebrate with them their 45th Anniversary of Dedication on Sunday, October 3rd, at their Solemn High Mass at 7am and 10am services. Fifth Annual father Anthony Roberts, King of The Grill Fest Monday October 11, 2010 from noon 6:00 p.m St James Anglican Church grounds, Adelaide Village. There will also be a Fish Fry. Come and fellowship with us. church notes
Mrs Bernadette Moultrie [Green] leads the women of the parish during St.Matthew's patronal festival on Sunday. Scores of parishes in the Diocese participated in the procession of Christian witness, which moved outside the church and into the surrounding community of the Pond. The future of the Church young members of St Matthew's Church School join in the procession on Sunday.St Matthews Patronal Festival 2010 The TribuneThursday, September 30, 2010 PG31RELIGION NOone can explain how some moments seem to outweigh the others in terms of significance. Whether it was the global emergence of Barack Obama, the first black President of the United States, the generation of my parents who witnessed the celebration of "Majority Rule" when the Progressive Liberal Party come to power in 1967, or the Independence celebration of 1973 which represented freedom from a nation that had colonized us for hundreds of years. Maybe for some in recent times, it was the unseating of Sir Lynden in August of 1992. Many of us can remember where we were as Sir Lynden conceded to one who was considered his political son, Hubert Ingraham. As for me and a few colleagues, we were crossing John F Kennedy Drive and Thompson Blvd heading onto Harold road. Who would forget the thunderous sound from the heavens and the flash of lightening? For many of us growing up on the island, you dared not speak as such heavenly sound is echoed. It was the voice of God we would often say. This sense of divineness, this sense of moments and time, gave us a feeling that heaven was about to once again get involved. And yes we are aware that it is He (God) that sets up kings and pull them down. For Sir Lynden too had recognised such a moment, the voice of the people is the voice of God he said. August 18,1992 Who would forget? This was the phasing out of one who had led and set the path for the modern Bahamas as we knew it then. While many in hindsight may have looked at all the internal chattering and the splits and probably would say they saw that coming, elections must and always be bigger than personality. No matter what one thinks of Sir Lynden he was and remains the father of the nation; the pioneer and pathfinder for the Bahamas as we now know it, which is an honour no one else shares. The truth of the matter is that even after some twenty years, we are still recipients of the path laid for us by him and the early patriarchs of the Bahamas. After all, sons are merely expressions of their father's minds and thoughts. Having said that, I do wonder about 2012; I wonder about the lining up of all things, the appearing of stars that point to the next generation, the announcement of a new culture and the arrival of a governance that is to truly be modeled. I wonder if 2012 represents the return of those from a far because once again we as a people, though small in numbers, will be known for our creativity and our genius and our wisdom for global solutions. The little lad in the midst of thousands emerged with resources that would feed thousands and though only five loaves and two fishes, he tapped into a reservoir that was unlimited.A People Known For Their Gratitude And ServiceI wonder whether 2012 will be the reemergence of greatness and a return to values that will redefine us as a people. Audie Millie would say manners would take you around the world: simple but true. And while I wonder, will the elections of 2012 represent the status quo or will we see the emerging voices and faces of the new Bahamians. This reality is not to despise or ignore the wisdom and contribution of those past, but rather acknowledge them while at the same time adjust to the new model of governance that the winds of change has brought upon us. For that little lad, it was more than the providing of meals, for him it was recognition that his hands were the ones to be used to find sustenance even in dry places. I wonder whether 2012 will be the time when the world looks to us in the midst of desert and difficult times for sustenance because we as a people understand that dry places are not an impediment to creativity but rather it's the difficulties of life that propels and provokes us to greatness. To what extent will 2012 cause to emerge those voices and faces that represent the new Bahamas. For the first time in a generation we are facing the possibility that someone from the school of Sir Lynden may not go beyond that imposed barrier. Not because they are weary, not because they cannot see or contribute, but maybe 2012 represents that line that those before are not allowed to cross at the front of the line but rather become symbols of wisdom and support at the rear of the line. This is not an indictment but rather a proper utilisation of wisdom and strength. Again I wonder what imaginations will not be achievable, if for the first time we are divinely positioned to garner the strength and resources of two generations. For the first time in nearly a generation ,2012 represents more than charisma and personality but a real sense of the new Bahamas and the culture that it expresses becomes the model for the new world. For the first time in a generation 2012 represents more than the status quo but a real choice between that which was, is and that which is to come. I wonder how many, even our parents who have fried hundreds of fritters will not join in the rally cry for the emergence of that which represents the new Bahamas.THE SECURING OF OUR CHILDREN FUTUREFor those who have led, 2012 should be a time of celebration; the passing on of the baton to the next generation, the strengthening and advancement of new legs, the same race just different team members.As a matter of fact everyone gets the gold. 2012the beginning of the creation of the new Bahamas, an environment that lends itself to the utilisation of all people and all races, the dismantling of all barriers, the elevation of those once disenfranchised. 2012 will be a repetition of that which was passed on to us by our national father Sir Lynden, "the removal and wiping away of tears from their eyes." 2012 Could this be a time of significant transformation? The emergence of a new generation, where the voices and faces of the new Bahamas are both seen and heard? 2012 An Emergence Men and Women Upon Whose Shoulders The burden of Governance Can Rest. Election 2012
THE Anglican Church of the Epiphany's branch of the Anglican Church men was officially inducted into the fellowship of the organisation at a service held at the church on Sunday. During the installation, the ACM council presented the group of men to Reverend Angela Palacious, Rector charge pro tem who administered the oath of office to the branch executives. She charged them to: "walk worthy of your calling, share with your rector, the leadership of this parish. Bring joy and fellowship to those you are called to serve, be guided by Christian discipline, being an example to one and all. Be faithful to your call and remember that God is counting on you." Following the service, the new ACM lead the congregation in the singing of Rise Up Ye Menof God before hosting a luncheon in the school hall. The board includes: President Joseph Hamilton, Vice President Cyprian Gibson, Secretary Kenneth Bethel, Treasurer Peter Carey and Branch Chaplain Anthony Outten. The Tribune PG32 Thursday, September 30, 2010RELIGION Epiphany ACM installed INDUCTED: Reverend Angela Palacious presides over ceremony.
By RENALDO DORSETT Sports Reporter email@example.com AS training camp for the Indiana Pacers continues and the country keeps tabs on the progression of Magnum Rolle, one local writer in the Hoosier state gave a firsthand impression of his role with the franchise. Jon Rangel, Indiana Pacers writer for the Examiner.com/Indianapolis, details the impact Rolle has had in his short time with the Pacers organisation thus fara nd the lofty expectations looming for the rookie forward. I am sure Magnum's play during the short pre-season will be very important regard ing his status on the team. T here are definitely questions r egarding the power forward position, and I think Mag num's length and defense will be very important, he said. I was also pleasantly sur prised by his soft touch and hands. He caught a lot of tough passes, making them look like good passes and always finished around the basket during Summer League. Stories in the Associated Press have surfaced declaring that the power forward spot in the Pacers training camp is virtually an open competition, with Josh McRoberts with the slight edge over the remainder of the field. I really believe Magnum deserves a spot on the team and the two-year contract he signed on Monday almost solidifies my belief that the Pacers are going to secure him for that length, possibly longer, and deal one of their expiring contracts. Solomon Jones should be dealt and Magnum will be the last player on the roster, but the nature of the league is a cruel one, nothing is guaranteed, Rangel said. As far as how Magnum fits, his size is great at the power forward. He will take a lot of pressure off Roy Hibbert with his ability to rebound and play help defense. I see him coming in for defensive purposes, especially when McRoberts or Hansbrough or even Foster is struggling against their man. Rangel sees the loss of Troy Murphy as a point of empha sis for the players vying to fill the void the versatile veteran frontcourt player from Notre Dame left behind. As far as something that may hurt Magnum is his lack of outside shot. As you know the Pacers lost Troy Murphy. He was one of the best 3point shooters on the team, and I assure you, in Jim O'Brien's offense you have to be able to knock down the outside shot, he said. It's why we saw fellow power forward Josh McRoberts shoot so many threes in Summer League and at Conseco Fieldhouse all summer. Having said all that I know the team is working on Magnum's shot around the clock to acclimate him to the stretched offense. Training camp workouts for the team began Tuesday with the first preseason matchup set for tip off October 6 on the road against the Memphis Grizzlies. Obviously, we can't be certain of anything at this point, but I am positive the Pacers really like Magnum and his potential, Rangel said. He's got a short window to stake his claim, but now that he has got the contract situation out of the way, it should help him relax and play to the best of his ability. Farmer reigns supreme A THRILLING regular season has set the stage for a highly anticipated championship round for the Bahamas Government Departmental Softball Asso ciation. The Defence Force Floaters knocked off the Prison Challengers in three straight games to advance to the championship series. The Floaters handily dispatched the Challengers, who gave the pennant winners their only loss of the regular season. Now that the second round of the playoffs has been completed for the Paradise Division, the Floaters will concentrate on regaining the leagues championship crown. The Floaters held the title for the past 17 consecutive seasons, and the loss in last years championship to the Police Chiefs was a heartbreaker for the proud mariners. They finished the regular season with a 20-2 win-loss record en route to capturing the division title. The Police Chiefs eliminat ed the BTC team in three consecutive games to advance to the championship round and face the Floaters. The Chiefs had a terrific season last year and defeat ed the 2008 defending champions and now are eagerly looking to repeat in the rub ber match. They won by default over the Floaters in the regular season finale. League executives expect the series to be a thrilling climax to the BGDSA season and have suggested the series could go the distance and needs seven games before a champion is crowned. The Chiefs finished the reg ular season with a 19-3 winloss record and captured the Tropical Division title. In womens play, the Defence Force Waves upset the BPSU Strikers in game five of their best-of-five playoff series. The Waves went into the playoffs as the underdogs but delivered the surprise elimi nation after five hard-fought games in the series. They are scheduled to face the Finance Health Invaders for the cham pionship title. And in the mens division, league executives expect a tough series based on the performance of the previous rounds, with the upstart Waves seeking to pull off another upset and dethrone the reigning champions. Note: Due to the BGDSA Boat Cruise set for October 2, there will only be two games played earlier that day. THE Grand Bahama Amateur Softball Association opened its playoff series at the newly built softball complex last week. And they paid homage to pioneers of the game in the nations second city. GBASA president Hansel Collie welcomed the group which included pitching sen sation from the 1970s and s Eddie Culmer, Wilfred Big Ben Beneby, premier catch er on the national team who is now coaching in the GBASA, the famed Reggie The Juicer Knowles, pitching great on many national teams and renowned for his perfect game pitched in a mens world championship, and ISF/BSF Hall of Famer Greg Christie. Also on hand but not pic tured were ISF/BSF Hall of Famer Churchill TenerKnowles and mens national team manager Godfrey Burnside. The playoffs are slated to continue each Wednesday and Friday nights this month. C M Y K C M Y K THURSDAY, SEPTEMBER 30, 2010 THETRIBUNE PAGE 15 P AGES 16-18 International sports news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reat start for Peyton, brother Eli not so good... S ee page 18 Softball pioneers honoured as GBASA playoffs get underway SOFTBALL PIONEERS: Shown (l-r Wilfred Beneby and Reggie Knowles. Thrilling regular season sets the stage for championship round S S O O F F T T B B A A L L L L By RENALDO DORSETT S ports Reporter r firstname.lastname@example.org T he president of the Bahamas governing body responsible for Olympic solidarity delivered his stamp of approval on the most influential sporting bill to effect in recent memory. In his address to the Sports Authority Conclave, Bahamas Olympic Committee (BOC dent Wellington Miller positively endorsed the draft Sports Authority Bill and its proposed impact on the countrys sporting landscape. I have read the draft Sports Authority Bill and it is very modern and straightforward. I believe that it will go a long way for the Bahamas, he said. I believe that the Sports Authority Bill has the potential to take the Bahamas to the status of a first world country in sports. The bill outlines key components of the improvement of the sporting structure in the Bahamas, including the establishment of the National Sports Authority, functions and power of the Authority, directions of the Minister (of Sports row funds, the National Sports Fund, compensation for risk, appointment of staff and a myriad of other relevant topics. This bill seems to be very businesslike. I think it will demand better sports administration from all of us. Because, from what I have read, the Sports Authority can be sued by us if they dont live up to their commitment, Miller said. And they can sue us if we dont live up to our commitment as Federations and Associations. I am willing to bet that this will ensure that we all live up to our commitments, because none of us wants to be sued. With amateur and pro athletes expected to compete for the Bahamas year after year, Miller outlined the compensation for risks portion of the bill as one section that should have immediate impact. I also like the part in the bill about compensation risks. For too long now athletes have been representing the Bahamas at great risk to themselves and their families. There is always a chance that they may get hurt while competing, he said. I see in this bill that provision has been made for compensation insurance for any player or athlete representing their country or even while they are practicing for a national team. This is surely a big part of the way forward for sports in the country. BOC head: Sports Authority Bill will go a long way for Bahamas MILLER E XPECTATIONS: M agnum Rolle LEE Farmer returned to club racing and reigned supreme as JAR Cycling held its first road race last weekend. It was very well attended. With lots of JAR club members and the presence of Potcake 2 top riders, Tracy Sweeting and Van Demeritte. The course was changed for these road races due to the need for extra safety for the riders, so they went on a new route covering 28 miles. The old route was only 20 miles, according to a press statement. The race started out fast for most of the group with JARs junior champion Jay Major making very hard surges, coupled with JAR national champion Lee Farmer joining in to add some serious pain to the pack. Farmer, Major and Sweeting went out front on pace for the first six miles, but Farmer was able to get away from Major and Sweeting and got off on his own. Farmer won without contest, reigning supreme over the field, but the race was in the chase pack with team Potcake 2 top riders Van Demeritte and Tracy Sweeting, and Anthony Colebrooke of Team Warriors and Jamie Nottage of JAR. The sprint was led out by Nottage while Colebrooke and Sweeting drove it hard to the line, but as they sprinted young Major dug deep and peddled hard from the rear and past them all, Mark Cavendish-style, as they faded and won the bunch sprint making it 1-2 JAR. Lofty expectations for rookie forward