Citation
The Tribune.

Material Information

Title:
The Tribune.
Uniform Title:
Tribune. (Nassau, Bahamas).
Added title page title:
Nassau tribune
Place of Publication:
Nassau, Bahamas
Publisher:
Tribune
Publication Date:
Language:
English
Physical Description:
v. : ill. ; 58 cm.

Subjects

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

Notes

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

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Source Institution:
University of Florida
Holding Location:
University of Florida
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This item was contributed to the Digital Library of the Caribbean (dLOC) by the source institution listed in the metadata. This item may or may not be protected by copyright in the country where it was produced. Users of this work have responsibility for determining copyright status prior to reusing, publishing or reproducing this item for purposes other than what is allowed by applicable law, including any applicable international copyright treaty or fair use or fair dealing statutes, which dLOC partners have explicitly supported and endorsed. Any reuse of this item in excess of applicable copyright exceptions may require permission. dLOC would encourage users to contact the source institution directly or dloc@fiu.edu to request more information about copyright status or to provide additional information about the item.
Resource Identifier:
09994850 ( OCLC )
9994850 ( OCLC )

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Full Text
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Volume: 106 No.283










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BAHAMAS EDITION

www.tribune242.com

FRIDAY, OCTOBER 29, 2010

cancer charity

Organisers issue alert

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

THE Cancer Society of the
Bahamas issued an urgent warn-
ing to all potential donors last
night after it was discovered that
unauthorised persons might be
representing the organization,
and fraudulently collecting mon-
ey.

This type of fraud was said to
be a “serious problem” for the
not-for-profit organization
because the society relies heavi-
ly on donations to support its
numerous initiatives. The warn-
ing sought to inform the public
on how to properly identify an
approved representative after a
woman was caught over the
weekend soliciting funds outside
a local supermarket.

Sources close to the matter

REPORTS: MAN DIES
IN TRIPLE SHOOTING

REPORTS reached The Tri-
bune late last night of a triple
shooting which resulted in the
death of one man.

The incident happened on
Eden Street off Farrington
Road in the Chippingham area.

There were no further details
up until presstime. See tomor-
row’s Tribune for more infor-
mation on this story.




















admitted there is no way of con-
firming exactly how long the
woman had been accepting mon-
ey on behalf of the organization
without authorization. The
woman was discovered on Sat-
urday when the wife of an affili-
ate of the organization donated
money.

Using the pink ribbon that
represents breast cancer, the
woman allegedly told shoppers
and passersby that she was col-
lecting funds on behalf of the
cancer society. After discussing
her donation with her husband,
it was revealed that the solicitor
had not received permission
from the cancer society.

Tammy Sands, administrator,
said: “We are non-profit and we
rely on the general public to
donate to us, so when you have
people out there soliciting funds
on our behalf and we’re not
actually benefitting from that —
it’s a serious problem, whether
your intentions are good or
bad.”

The woman reportedly
returned funds to the society on
Monday, and the matter is being
resolved internally. However,
the organization decided not to
reveal the amount that had been
returned, as it hoped not to dis-
courage future donors.

In a press statement yester-
day, President Earle Bethell

SEE page 15

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ABOVE: Downtown Nassau was full of activity last night as
Breitling launched their new watch collection and made a
landmark presentation on the history of Bahamian aviation.

LEFT: Jerome Gray, a level II Breitling watchmaker, keeps a
steady hand as he works on a watch at the Breitling store.



Call for ban on development in national parks

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

AN EXUMA activist has crit-
icised the Bahamas National
Trust for not opposing dredg-
ing and excavation at Bell Island
in the Exuma Cays Land and
Sea Park as he calls for devel-

opment in all national parks to
be banned.

Terry Bain, spokesman for
Save The Exuma Park (STEP)
committee, is outraged at the
granting of permission to dredge
and excavate more than 13 acres
of land and seabed around Bell
Island in the Exuma park and
the apparent compliance of the




UC eR LCL

PURER me

Mee MU eau st



Bahamas National Trust (BNT).

Mr Bain spoke out on behalf
of STEP’s 180 members at a
public meeting called by the
BNT in Great Exuma last
Thursday to discuss the Bell
Island development with mem-

SEE page eight

Me



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WHITNEY BASTIAN
SET TO RUN AS
INDEPENDENT

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

FORMER MP for South
Andros, Whitney Bastian,
confirmed with The Tribune
last night that he intends to
run as an Independent in the
next general election and
regain his seat in the House
of Assembly.

Lambasting the area’s cur-
rent MP Picewell Forbes, Mr
Bastian claimed that Mr
Forbes is “not representing”
the people in the area.

Mr Bastian says Mr Forbes
is losing significant support
in the Mangrove Cay area,
and if the South Andros seat
is cut the way he thinks it will
be, he will win the seat
“hands down.”

“When you look at it,
everytime a PLP MP gets up
to speak, Picewell is sitting
behind them. He is the only
floating MP in the House,”
said Mr Bastian.

Claiming to have more
support in the area now than
he even had when he was
elected to Parliament in 2002,
Mr Bastian added that Mr
Forbes cannot continue to
cry “poor mouth” when it
comes to being able to at
least visit his people.

SEE page eight

INVESTIGATIONS
INTO TWO POLICE
SHOOTINGS

INVESTIGATIONS con-
tinue into two separate shoot-
ing incidents involving police
on Wednesday.

In one incident, a man was
shot by police in the Montagu
foreshore area.

Police were reportedly con-
ducting a routine road block
on East Bay Street near the
Nassau Yacht Club at about
10am when they opened fire
on an occupant of a grey
coloured Nissan Sunny who
was reportedly armed with a
handgun.

Witnesses said the man had
got out of the car and drawn a
9mm pistol.

According to police reports,
the man had pointed the gun
in the direction of police, who
opened fire in response.

The man was wounded and
taken to hospital. According
to police press liaison officer
Sgt Chrislyn Skippings, he is in
stable condition.

A second man, who was
shot by police on Wednesday,
is also listed in stable condi-
tion, according to Sgt Skip-
pings.

He had reportedly been
arrested with two others for
allegedly having an unlicensed
firearm and stolen goods.

The man was reportedly
shot in the buttocks and leg
as he fled from the East Street
South Police Station while
being escorted to a waiting car
to be taken to Central Detec-
tive Unit headquarters.



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THE TRIBUNE

LOCAL NEWS

Fair held for

National Career
VET ATS CITT UL









ENCOURAGEMENT: Minster Desmond Bannister poses with a

young participant at the fair.

EAGER public and private
school students filed into the
Kendal Isaacs Gymnasium
this week for the third annual
National Career Awareness
Month fair.

The event is a collaboration
between the Ministry of Edu-
cation, corporate sponsors
and civic organisations.

This year, the focus is on
the technical and vocational
trades, as well as entrepre-
neurship.

The organising committee
said they wanted to help

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young people identify the
country’s “evolving employ-
ment needs” and encourage
them to compete on the glob-
al stage.

Education Minister
Desmond Bannister, who
viewed the exhibition, said he
is working to alleviate some of
the challenges facing gradu-
ating students hoping to enter
the work force.

He told the students to pay
careful attention to the infor-
mation provided at the fair.

The minister said the coun-
try needs young people who
are creative and capable of
responding to today’s serious
challenges.

He said: “Utilise your wings
and brain power to make
choices that will make a dif-
ference in the Bahamas.”











PAGE 4, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR



The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

UK spy chief defends secrecy in Ist speech

LONDON (AP) — Britain's spy agency
chief stepped out of the shadows with an
unprecedented public address, defending the
need for secrecy to counter growing terror
threats such as Iran's nuclear proliferation.

MI6 chief John Sawers said Thursday even
though Cold War-era secrecy has been lifted
and intelligence agencies were working to
become more accessible, keeping intelligence
material secret was vital to protect people
against terror attacks.

"Secrecy is not a dirty word. Secrecy is
not there as a cover-up," Sawers told a select
group of journalists in London. "Without
secrecy there would be no intelligence ser-
vices, or indeed other national assets like our
special forces. Our nation would be more
exposed as a result.”

The question of secrecy has dominated
world news in the last week, after the whistle-
blowing group WikiLeaks published nearly
400,000 U.S. intelligence logs detailing daily
carnage in Iraq since the 2003 U.S.-led inva-
sion. In July, the same group published 77,000
secret U.S. documents on the war in
Afghanistan. Some of the leaked documents
show that coalition forces handed over terror
suspects to Iraqi security services even after
abuse was suspected, or continued with inter-
rogations despite visible injuries to suspects.
There has been no clear mention of MI6
involvement in the logs, however.

Sawers' speech also comes as two govern-
ment inquiries probe whether MI6 and other
agencies were complicit in the abuse of terror
suspects — allegations that Sawers denied
Thursday, adding that MI6 agents are oblig-
ated by law to stop and avoid torture.

"And we do —even though that allows
terrorist activity to go ahead," he said, adding
that although his agency hasn't been specifi-
cally accused of torture it has been accused of
"being too close to it.”

Sawers — also known by the codename
"C" as all MI6 directors have been known
since the first chief Mansfield Cumming —
said progress had been made in Afghanistan
and Pakistan, but new terror threats were
growing in Yemen, Somalia and North Africa.
The new threats come amid severe budget
cuts ahead. "We get inside terrorist organi-
zations to see where the next threats are com-
ing from," he said. "What we do is not seen."

He said while a "typical" terror attack
would not bring down Britain, the dangers
of nuclear proliferation — as well as chemical
and biological weapons — had the potential to
alter the political balance of power in the
region.

"The revelations around Iran's secret
enrichment site at Qom were an intelligence
success," he said. "They led to diplomatic
pressure on Iran intensifying, with tougher
UN. and EU sanctions which are beginning to
bite. The Iranian regime must think hard
about where its best interests lie.”

But using intelligence poses anguished
choices for agents — especially when faced

with the possibility that intelligence could be
tainted by abuse or torture.

"Suppose we received credible intelligence
that might save lives, here or abroad. We
have a professional and moral duty to act on
it,” he said. "We also have a duty to do what
we can to ensure that a partner service will
respect human rights. That is not always
straightforward. If we hold back, and don't
pass that intelligence, out of concern that a
suspect terrorist may be badly treated, inno-
cent lives may be lost that we could have
saved," he said. "Sometimes there is no clear
way forward."

In a court case that drove a wedge between
USS. and British intelligence, British High
Court judges last year ordered the govern-
ment to release secret US. intelligence
exchanges on the treatment of former Guan-
tanamo Bay detainee Binyam Mohamed, who
claimed British authorities knew he was beat-
en and had his genitals sliced with a scalpel
while being interrogated in Morocco.

Sawers said the release of such information
risked intelligence sharing and undermined
the "Control Principle,” a rule in the intelli-
gence community that says the agency that
gets the information first has the power to
decide how the information is used.

"So if the control principle is not respect-
ed, the intelligence sharing dries up,” he said.

The U.S. and Britain have often taken dif-
ferent approaches to terror threats, most
recently seen during a European terror plot
that was unveiled last month and is still con-
sidered active. While the United States issued
a travel advisory warning citizens to be aware
of potential threats in Europe, British offi-
cials downplayed the specifics of the plot.

There was also a striking difference during
the trans-Atlantic bombing plot in 2006, where
militants tried to down several airliners with
explosives contained in soft drink bottles.
Prosecutors said American officials wanted to
crack the plot and round up the suspects
quickly whereas British officials wanted to
wait and gather more information.

MI6, known as the cloak-and-dagger
employer of the fictional James Bond, has
tried to become less secretive. It has started
posting recruitment ads in Britain's media,
hired press officers, and last month released its
first-ever official history. The CIA took a sim-
ilar path years ago.

Sawers has already revealed more than
any previous MI6 chief. Shortly after his
appointment was announced last year, a news-
paper ran some of the spy's holiday snap-
shots, taken from his wife's Facebook page.

The images showed Sawers posing with
his children, wearing a Santa hat and playing
Frisbee on a beach. The Facebook pictures
and other personal details were removed after
the newspaper told the government about
them. Some politicians called the details a
security lapse.

(This article was written by Paisley Dodds,
Associated Press writer).



EDITOR, The Tribune.

On September 23, 2010,
Delaporte Point owners
signed a document demand-
ing that ALL Delaporte
Point Limited (DPL) Direc-
tors vacate office.

A defiant Board notified
owners that they would not
vacate office as requested
by a majority of owners.

Following is a notice sent
to owners from the incom-
ing Board:

In accordance with Arti-
cle 46 (d) of DPL's Articles
of Association, the Board of
Directors of DPL, compris-
ing Shonel Ferguson (Chair-
man), Gloria Factor (Secre-
tary), Graham Garner
(Treasurer), Joe Stanley
(Director), Templeton
Hutchinson (Director) and
Sue Kimball (Director) have
been ordered to vacate their
offices effective September
23, 2010.

The Directors have been
served through the regis-
tered office of The Compa-

EDITOR, The Tribune.

Socialist Party.
the corner.

preparations.

General Elections.

party, the FNM, who will?

ities.

is a big mistake.

LETTERS

letters@triounemedia.net



ny with this request in writ-
ing by members of the Com-
pany holding and represent-
ing over one-half in value of
the subscribed and issued
shares of the Company. The
outgoing Board and its
Directors have been
instructed to immediately
cease to act as representa-
tives of the Company, not
to enter into any agreements
or contracts on behalf of the
Company and to return all
assets in their possession to
the registered office of The
Company.

Owners have been trying
to get rid of the DPL Board
since April 2010 when the
Board, apparently fearing
they would be ousted,
adjourned an Annual Gen-
eral Meeting before the
required election of new
Directors could be held.

Delaporte Point
Directors asked
to vacate office

Owners are also angry at
the former DPL Directors
regarding a certain financial
matter for which they can-
not get answers, a $124,000
lawsuit against the DPL
Board by apartment own-
ers, the Board’s refusal to
release financial statements,
hold the required annual
election of new Directors,
their refusal to step down as
prescribed by company law
and other allegations.

The Board’s attitude
towards the community has
many owners wondering if
there might possibly be
something to hide?

So, what should owners
do to force the former
Board to vacate office so
that a new Board can shed
some light on the issues that
are troubling owners about
their investment?

DELAPORTE
RESIDENTS
Nassau,

October 27, 2010.

Dr. Duane Sands will
become the next Prime
Minister of Bahamas

My name is David Thompson, a former
member of The Vanguard Nationalist and

The next General Election is just around
All political parties are busy making

Mr. Christie, leader of the PLP, has indi-
cated that he will lead his party in the 2012

If Mr. Ingraham decides not to lead his

Tommy was rejected in 2002 by the voters,
Dion, and Carl do not have leadership qual-

Branville is undisciplined...and is trying
to build himself up as a leader, which to me

Leaders are not built, they are born, which
brings me to the point of this letter.

For the past several weeks, I’ve been talk-
ing to people from different walks of life,
and the majority along with myself have
come to the conclusion that only one person
in the FNM party has the ability to lead, if
Mr. Ingraham decides not to.

The person is Dr. Duane Sands. He was
robbed in the by-elections in Elizabeth, by

Mr. Ryan Pinder, who is only warming up
that seat for Dr. Duane Sands until next
elections.

Word is that those undecided voters who
did not vote in the by-elections, have now
made up their minds.

As a result of Dr. Sands’ continuous work
in the constituency, the majority will now
vote for the FNM.

I'm going to make a prediction based on
my experience and the sip-sip that is going
around. Dr. Duane Sands will become the
next Prime Minister of The Bahamas.

COMRADE DAVID THOMPSON,
Nassau,
October 19, 2010.

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, campaigning for improvements in
the area or have won an award. If so, call us
on 322-1986 and share your story.



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THE TRIBUNE

FRIDAY, OCTOBER 29, 2010, PAGE 5



Sewage container erupts in flames

FIRE services had to be
called to Paradise Island yes-
terday when a sewage con-
tainer burst into flames.

The blaze caused a huge
black smoke cloud that could
be seen billowing from the
island around noon.

Fire services were called

to the scene and found the
aluminum container, which
was housed in a utilities stor-
age area on the opposite side
of the island from the
Atlantis resort, engulfed in
flames.

According to the informa-
tion given to responding offi-

cers, the container was being
demolished when it caught
fire.

Fire fighters were able to
extinguish the blaze within a
short period of time.

There was no damage to
Atlantis or any other prop-
erty on the island.



IRE
truck refills at a
fire hydrant
extinguishing an fe

¢ ‘
aluminum sew-

erage container
on Paradise
Island.

RBPF hosts
annual Safe
Halloween

THE Royal Bahamas
Police Force is promising
“games, prizes and sur-
prises” at the annual Safe
Halloween event tonight.

There will be face
painting, costume con-
tests, goodie bags, eats
and treats, a haunted
house, games, prizes,
karaoke and fire engine
tides.

The event, to be held
at the Police Training
College on Thompson
Boulevard beginning at
6pm, is a crime preven-
tion initiative that aims
to provide a safe envi-
ronment for parents and
children to enjoy Hal-
loween.

All members are invit-
ed and the entrance fee
is only $1.

Special
Prices’

on select models



ZNS accused of re-hiring
terminated employees

AFTER terminating more
than 80 staff members, man-
agement at the Broadcasting
Corporation of the Bahamas
has been accused of re-hiring
some of the employees they let
go not more than two weeks
ago.

A number of staff members
who accepted the government’s
voluntary package told The Tri-
bune yesterday that it appears
as if more persons were let go
by the corporation than was
wise.

One former staff member
told The Tribune that persons
have been re-hired to work on
the radio and news production
teams, and that a number of
other persons are still in talks
with management at this time.

The source alleged that sev-
eral changes can be expected
at the BCB in the coming
weeks.

For one thing, ZNS TV news
anchor Jerome Sawyer will
reportedly no longer be pre-



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senting the nightly news at 7pm.

Mr Sawyer, the source said, is
being asked to host a one hour
“daily news show” which will
air between 9pm and 10pm.

Messages left for BCB gen-
eral manager Edwin Light-
bourne seeking comment were
not returned before press time
last night.

When word first leaked out
about the intended cuts at the
BCB, it sparked outrage among
the staff and led to a series of
protests. At one point, staff
members even marched to the
Churchill Building on Bay
Street to demand answers from.
Minister of National Security
Tommy Turnquest, who has
responsibility for the Broad-
casting Corporation.

The opposition PLP criticised
the downsizing, however Prime
Minister Hubert Ingraham said
the governement acted hon-
ourably, paying the laid-off staff
more money than they were
entitled to.

Come in to Nassau Motor
Company today or visit your
nearest Scotiabank branch
for more information.

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PAGE 6, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



BEC is an albatross around
necks of Bahamian taxpayers
YOUNG MAN’s VIEW

By ADRIAN GIBSON
ajbahama@hotmail.com

WITH the government set
to provide yet another multi-
million dollar bailout to it, it’s
clear that the Bahamas Elec-
tricity Corporation (BEC) is
proving to be a financial alba-
tross around the necks of
Bahamian taxpayers. It has
evolved into a haemorrhaging
utility company that has
become grossly indebted and
appears to be severely mis-
managed.

As it stands, Bahamians
continue to shell out more and
more monies on bloated elec-
trical bills, while enduring sub-
standard service. Further,
even with its monopolistic sta-
tus on most islands, it has
become yet another failed
government experiment.

Frankly, BEC is a corpo-
ration whose wastefulness was
shown when it collected 800
gallons of spilled oil from
grounds around Clifton Pier
station a few years ago. It is
hardly fuel-efficient and envi-
ronmentally-friendly, contin-
uously leaving a large carbon
footprint and, in addition to
facing financial woes, persis-
tently incurring maintenance
issues.

The privatization of
BEC—like BTC—would
undoubtedly lead to
enhanced, cost-effective ser-
vices.

In the July 24, 2008 edi-
tion of The Tribune, Prime
Minister Hubert Ingraham
expressed the notion that he

ADRIAN

expected the process to priva-
tize BEC to be easier than
that involving BTC. Accord-
ing to the Prime Minister, the
state can no longer “continue
to provide the kind of genera-
tion capacity that is required
for the operations of BEC.”
He asserted that the multi-
million dollar subsidies hand-
ed out by government on an
annual basis to government-
run entities are, going forward,
unaffordable on a continuing
basis.

The Bahamas can increase
its energy security by explor-
ing its alternative energy
options, especially with
greater awareness as to the
limitations of fossil fuels. It is
high-time that Bahamian pol-
icy-makers strategically plan
for the long term and examine
the new sources of energy that
can be applicable to this coun-
try.

Politicians releasing press
statements and talking about
alternative energy is mere hot
air, and environmentally-con-
scious Bahamians are won-
dering when the talk of bio-
fuels and green energy will
evolve into more than pie-in-
the-sky pipe dreams. When
will citizens be granted per-
mission to use solar panels
and/or to explore alternative

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energy sources?

When will a windmill be
installed at Clifton Pier?
When will a water-to-energy
facility be demonstrated at
New Providence? When will
wave technology be
deployed?

When will the 27 BEC
power plants be revamped to
facilitate the incorporation of
alternative energy? Moving
forward, what will be the fuel
hedging strategies being uti-
lized by BEC?

With oil prices fluctuating,
the value of the dollar plum-
meting, high food costs and
an economic downturn, the
government must swiftly
develop an energy policy and
offer incentives and support
in proposing and driving
renewable energy legislation.
In recent times, because of
high freight rates and the
demand for corn, wheat and
sugar cane for ethanol prod-
ucts, food prices have also
risen.

According to Wikipedia,
an online encyclopaedia:
“Renewable energy effective-
ly uses natural resources such
as sunlight, wind, rain, tides
and geothermal heat, which
are naturally replenished.
Renewable energy technolo-
gies range from solar power,

wind power, hydroelectrici-
ty/micro hydro, biomass and
biofuels for transportation.”

Due to the absence of gey-
sers or large agricultural enter-
prises, geothermal power or
even the production of
ethanol fuel would not be fea-
sible in the Bahamas. Accord-
ing to the online encyclopae-
dia, Brazil has the world’s
largest renewable energy pro-
gramme, deriving ethanol
from sugar cane which pro-
vides 18 per cent of that
nation’s automotive fuel.
Because of an abundance of
sunshine, wind and water, we
can explore renewable energy
technologies such as solar
power, wind power and wave
energy.

A few years ago Jerome
Elliott, then president of the
Bahamas Society of Engineers
and head of the government’s
Renewable Energy Commit-
tee said:

“Tt’s important for us to
consider renewable energy
options as, because most of us
are aware, hydro carbon or oil
based energy is finite. It’s not
going to last forever.”

Mr Elliott also noted that
the Bahamas will inevitably
have to switch to alternative
energy, with the most practi-
cable being wind, wave and
solar energy.

Locally, there are offshore
sites with strong, continuous
winds that would be fitting
locations for wind turbines to
be set-up. Additionally, the
strong currents flowing
throughout the archipelago

are ideal for power derived
from waves/tides.

Our sub-tropical climate,
with the sun as an
omnipresent feature, is a suit-
able locale for solar power sys-
tems which we are currently
failing to capitalize on.
Presently, Japan is the world’s
leader in the solar energy
industry, with Kenya holding
the record for the “world’s
highest solar ownership rate
with roughly 30,000 small (20-
100 watt) solar power systems
sold per year (Wikipedia).”

In Eleuthera, the Island
School’s innovative approach
has resulted in that institution
being able to convert used
cooking oil—donated by
cruise ships—to fuel and
thereby produce their own
electricity. There are some
Family Islanders who have
been experimenting with solar
power for several years.

Moreover, while some may
object, consideration should
be given to the feasibility of
installing a mini-nuclear reac-
tor to provide cheap energy.
Of late, the “septic tank-sized”
nuclear reactor has been
hailed internationally as a nov-
el means of generating power
in an age where countries are
becoming increasingly con-
cerned about moving away
from dependence on oil.
According to its developers,
the septic tank-sized power
module will likely be buried
in the ground and run by
operators from the local utili-
ty company. It has been said
that this form of alternative

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energy is around five to 10
times cheaper to produce than
solar or wind power.

Furthermore, waste-to-
energy initiatives are consid-
ered as one of the country’s
greatest opportunities for har-
nessing renewable energy.
The waste-to-energy method
purportedly creates energy in
the form of heat or electricity
from a waste source.
Undoubtedly, the production
of energy from waste would
also reduce the amount of
waste treated in the Harrold
Pond area.

What happened to the
drafts for a national energy
policy that was submitted by
National Energy Policy Com-
mittee and was purportedly
being reviewed by the gov-
ernment? What happened to
the finalization of an agree-
ment with a renewable energy
provider that State Minister
of the Environment Phenton
Neymour promised would be
completed by the end of 2009?

With China and India’s
increasing industrialization, oil
shortages will continue and
the price will further increase
with the greater demand. As a
nation, we must begin explor-
ing the use of cheaper,
biodiesel fuels!

With the record-setting
prices at the country’s pumps
and skyrocketing energy costs,
in the interim the government
should consider reducing the
hefty fuel tax, which would
immediately lower the costs
to consumers. A consumer
education programme must
be undertaken to teach
Bahamians how to conserve
energy and lessen the hit to
their pocketbooks, especially
as salaries have remained stag-
nant amidst a recession and
mounting living costs.





CHARLES MAYNARD:
GOOD SPORT!

This week, the ZNS news-
cast yielded a humorous,
seemingly heartfelt clip of
Minister of Culture Charles
Maynard dressed in the
colourful, psychedelic garb
usually worn by businessman
Frank Hanna during his
endorsement and promotion
of the Frank Hanna October
Fest in North Andros—tak-
ing place this weekend. Mr
Hanna is known for his par-
ticipation and sponsorship of
cultural events, particularly
those in Andros.

Moreover, Mr Maynard has
shown that he’s a good sport
with his consistent participa-
tion in the pastors versus
politicians’ basketball game at
the Nelson Cooper Basketball
Tournament, which is held to
discourage gang violence and
raise funds to assist troubled
youths.

Frankly, for those light-
hearted—even self-depreciat-
ing gestures—in pursuit of the
greater good, Mr Maynard is
to be commended.



PAGE 8, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



LOCAL NEWS

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

LEGAL OFFICER
ADMINISTRATION DIVISION

Avecancy exists in the Corporation fora Legal Officer in the Administration Division,

The Legal Officer assists with legal services and the drafting of legal documents. This would
include, but is not limited to, industrial agreements, and development of standard contract
formes ete. In addition, the job assists management with effectively handling of industrial rela-
tions processes, conducting research, preparing reports and appearing before the Tribunal or
Courts within the Commonwealth of the Bahamas,

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

Prepares and gives opinion on all legal documents relative to the Corporation:

Assists with the negotiation process, in the drafting of clauses for the development of the
Industrial Agreenvent;

Assists in the industrial relations process by providing legal opinions on industrial relations
matters;

Assists in the development and drafting of standard and relevant contractual forms in
relations to the tendering process;

Performs notary duties and functions:

Establishes and oversees the legal process involving debt collection procedures;

Assists all levels of management on industrial matters;

Monitors and liaises with Counsel on fees and retainers affecting the Corporation;

Assists with the internal legal and administrative functions of the Corporation;

Prepares and submits regular reports as required.

Job requirements include:

A rminimum of a Bachelors degree in Law

Be farniliar with the laws and regulations affecting the Electricity Act and the industry
S years practical experience at the Bahamas Bar and a minimum of 3-5 of those in legal
Exqperence at a supervisory managenbenit lew

Strong analytical skills

Gead judgment and sound reasoning ability

Excellent communication skills

High proficiency in legal writing

An enthusiastic team player

Stromg organizational skills

Geoad tine management skills

Sound knowledge of Conporation’s policies and procedures

Sound knowledge of incustriallabour relations

Interested persons should apaly by completing and returning an Application Form ta: The
Assistant Manager-Human Resources, Bahamas Electricity Corporation, Blue Hil! & Tucker,
Po. Bow N-7509 Nassau Bahamas anor before: Thursday, Movember 11, 2010.



FROM page one

bers of the community.

He said it was not made clear
at the meeting that the Depart-
ment of Physical Planning had
already granted permission to
excavate 4.32 acres of upland
area for a yacht basin, 2.56 acres
of seabed for an outer channel,
4.28 acres of marine area for a
barge landing and a further 1.9
acres of seabed for the outer area
of the barge landing on Septem-
ber 21.

Local tour boat operators
spoke out at the meeting claiming
dredging is already being done
at Bell Island; claims flatly denied
at the meeting by BNT execu-
tive director Eric Carey.

Conditions of the permit state
an Environmental Management
Plan (EMP) and Environmental
Impact Assessment (EIA) must
be approved by the Bahamas
Environment, Science and Tech-
nology (BEST) Commission
before work can begin, and the
EMP is expected by Mr Carey
this week.

Plans were submitted by
Islands of Discovery Ltd after
Islamic spiritual leader and bil-
lionaire Prince Karim Aga Khan
IV bought the island last year.

Details of the development
emerged as Environment Minis-
ter Earl Deveaux confirmed he
had accepted the offer of free
transportation in the Aga Khan’s
helicopter to travel to Abaco with
his wife and two friends to attend
a public event before going on
to Bell Island to conduct a land
assessment the next day. In
answer to his critics, Minister
Deveaux said that in no way did
this courtesy by the Aga Khan
to make it possible for him to
attend the two meetings — one in

Call for ban

Abaco, the other in Bell Island —
influence his decision on the Bell i

Island application.

It was also alleged by Tribune
sources that the Aga Khan }
donated $1 million to the BNT

after he purchased the island.

Mr Carey has issued no com- }
ment on the donation claim, how- }
ever a BNT statement on the }
development maintains: “Every }
landowner in the park has con- :
tributed generously to the fund- }

ing of the BNT.”

Mr Bain said: “The Trust has
gone along with every develop- i
ment in the Exuma Cays Land }
and Sea Park, and I have been }
trying to save the Trust from
themselves by trying to keep :

development out of the parks.”

STEP has been lobbying for i
an amendment in the BNT Act : a
to prevent development in the } Suspected illegal
Exuma park and all national ; . .
| immigrants are
the group was founded 17 years i
| apprehended

But recent amendments }
passed in Parliament do not }
include such changes, and STEP
now continues to fight a battle i
Mr Bain says the BNT should }

parks across the Bahamas since

ago.

fight for itself.

The activist of Farmer’s Cay, i
Exuma, further stated how locals i
and fishermen find development }
in the 176 square mile park hard }
to accept as they are prohibited ;
from taking anything within its }

boundaries.

In an editorial column pub- ;
lished in The Exuma Breeze this }
month, Mr Bain called on all }
Bahamians to speak out against }
development in the Exuma park }

and all national parks.

BASTIAN SET TO RUN AS INDEPENDENT

FROM page one

“T would have thought that since he doesn’t have a headquarters ;
that if the government is paying him $18,000 a year (to manage it), he }
should have some money somewhere because he never created an }
office. So if you look at his MP’s salary of $28,000 and then he getsa
travel allowance to visit his constituency — they even give hima per }
diem. So he can’t find no excuse.” i

And when it comes to campaigning for the next general election, }
Mr Bastian said he will in no way be spending the amounts of mon-

ey that he has spent in the past on the last two general elections.

“T don’t have intentions of spending the money I spent before. If
the people want me they will vote for me. If they vote for me, I will
serve to the best of my ability. In terms of spending what I spent in the }

last two elections you don’t have to worry about that ever again.

“We have to break that habit in South Andros. Because people who
do things like that feel like they don’t owe the people anything. But :
people on the Family Islands only need assistance. They only want
you to point them in the right direction to get things done. They don’t }
need you to put ya hand in your pocket. But the only way to under- }

stand the needs of the people is to sit down an’ talk with them.”

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Two expected in
court over shooting

FREEPORT —- Two men
are expected to be arraigned
on Friday in the Freeport
Magistrate's Court in con-
nection with Monday's
shooting at Garden Villas.

ASP Hector Delva said
police have also withdrawn
the All Points Bulletin issued
on George Alexander Fer-
guson, who surrendered to
authorities around 10am
Thursday.

Ferguson, 29, was wanted
for questioning in connec-
tion with Monday’s shooting
of a Bimini man.

Also wanted was Rodnell
Octavien, 25, of No 24 Impe-
rial Gardens, East Atlantic
Drive.

SIXTY-FOUR suspected
illegal immigrants were
apprehended yesterday by
officers from the Royal
Bahamas Defence Force and
the Department of Immigra-
tion.

The apprehension exercise
began at 6am, with officers
setting up road blocks on
numerous roads in western
New Providence.

Among those apprehend-
ed were 57 Haitians, three
Peruvians and one Jamaican
man.

Anglican Church
of the Epiphany’s
annual fair

The Anglican Church of
the Epiphany will hold its
annual fair on Saturday,
October 30, at the church on
Prince Charles Drive.

The event starts at 6am
with a souse out, patio sale
and plant stall. It then con-
tinues from noon to 8pm
with chicken and steak din-
ners, home cookery, conch
fritters, pastries, games,
bouncing castle, Halloween
competition and fireworks to
name a few attractions.

There will also be a prayer
stall, for those persons who
desire prayer.

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



THE TRIBUNE

FRIDAY, OCTOBER 29, 2010, PAGE 9









ee

Bahamian sraduates from the
World Maritime University

LIEUTENANT Commander
Herbert Bain returned home
with a new degree and insight
for the Bahamas’ maritime sec-
t ° r ‘
He anticipates using his new
skills to help form national mar-
itime regulations that comple-
ment international maritime leg-
islation.

“Most countries do not have
the capacity to police their bor-
ders so that is a reality that we
are aware of and international
cooperation and collaboration
can fill some of the gaps when it
comes to your limitations as a
country,” said Lt Commander
Bain.

“We are the third largest ship
registry in the world, so when it
comes to ship safety we have a
major responsibility and obliga-

tions for safety to life at sea as
well as all the other conventions
related to ships in international
trade. So, all maritime issues
become very important to us.”

On October 10, he graduated
from the World Maritime Uni-
versity in Mamao, Sweden with
a Masters degree in Maritime
Affairs.

The awards were presented
by the Secretariat General of
the International Maritime
Organisation (IMO), EE
Metropoulos, Chancellor of the
University.

The Masters in Maritime
Affairs programme is an inten-
sive 17-month long programme,
endorsed by the United Nations.

Lt Commander Bain antici-
pates his knowledge would be
used to assist in drafting mar-

itime legislation and policies that
coincide with the international
Law of the Sea.

He also looks forward to
paving the way for young
Bahamian cadets to get expo-
sure with working on private
yachts.

“Opportunities are available
within the industry. There’s a
lot of things we can do asa
country to attract young people.
to the industry. With the num-
ber of ships we have out there
we need to get our young cadets
on ships and get them exposed,”
said Lt Commander Bain.

“Along with the commercial
shipping industry, we have the
most cruise ships on our register
and yachts are considered pas-
senger ships as well. We have
other commercial ships, such as

tankers, where we could also get
Bahamians on board (these
ships). The key is for us to start
somewhere and create that
avenue.”

Lt Commander Bain spe-
cialises in maritime safety and
environmental administration
and concentrated on interna-
tional maritime law and policies,
port management, maritime
ocean management, environ-
mental administration, as well
as other areas in the maritime
sector.

He was the former Interna-
tional Ship and Port Security
(ISPS) coordinator for the
Bahamas. He also served as the
Bahamas’ 24-hour single point
of contact for the IMO.

“Tam convinced that numer-
ous opportunities exists within

the maritime field for young
Bahamians. Also, I am commit-
ted to assisting in the growth
and development of the indus-
try”, said Lt Commander Bain.

Lt Commander Bain began
his maritime career in 1984
when he joined the Royal
Bahamas Defence Force and
was sent to Britannia Royal
Naval College at Dartmouth,
England to complete the Royal
Navy’s International Midship-
man’s Course.

Since then, he has qualified
himself in several other mar-
itime related areas which include
inter alia port operations and
management, marine surveying,
Commercial Ship Master/Chief
Mate Certificate, IMO member
state auditor and marine pilot
training.



BIS Photo
ACCOMPLISHED: LIEUTENANT
Commander Herbert Bain earned
the degree of Master of Science
in Maritime Affairs with the presti-
gious and award of “distinction”
from the World Maritime Universi-
ty, Malmo, Sweden.



BSE donates $40,000 to the Peter Gordon Memorial Bursary

THE Bahamas Society of
Engineers (BSE) has donated
$40,000 to a fund at the Col-
lege of the Bahamas to ensure
that a scholarship opportunity
will be available to engineer-
ing majors.

This fund, the Peter Gordon
Memorial Bursary, is named in
honour of the former Director
of Public Works who con-
tributed significantly to the
development of the engineer-
ing profession, said COB pres-
ident Dr Earla Carey-Baines
as she thanked the BSE for the
financial gift during a press con-
ference on Wednesday.

Speaking of Mr Gordon, Dr
Carey-Baines said:

“His mentorship has been
invaluable to many who have
followed his professional foot-
steps,” she said speaking at the
Chapter One Bookstore.

“The bursary will be award-
ed to a student enrolled in a
full-time undergraduate degree
programme in engineering at
COB who has a demonstrated
financial need.”



Engineering is one of COB’s
most highly subscribed pro-
grammes in the School of
Mathematics, Physics and
Technology; in fall of this year,
approximately 80 students were
enrolled in this programme
alone, Dr Carey-Baines said.

“This most generous gift
demonstrates that the Bahamas
Society of Engineers recognis-
es the critical importance of
supporting our students and
fostering opportunities through
which they can attain a high
quality tertiary education,” said
the college president.

Through the gift, the BSE
joins a long list of private
donors and friends who have
supported the college and its
students through their philan-
thropy, she added.

Chairman of the BSE schol-
arship committee Robert Deal
Jr explained that Mr Gordon,
who was born in the United
Kingdom, left a legacy in the
Bahamas where he mentored
many engineers through their
professional development.

Mr Deal also thanked the 45
sponsors and those within the
BSE who assisted in the col-
lection efforts of the scholar-
ship committee. He said the
committee exceeded its collec-
tion target by more than $5,000.

President of COB’s Union
of Students Antonio Butler
said: “For some fortunate stu-
dents studying engineering, this
gift and the endowment that
will result will mean the differ-
ence between having a dream
and being able to bring that
dream to fruition.”

The prevailing economic
conditions, coupled with finan-
cial challenges facing many
families, place the dream of
having a quality college or uni-
versity education out of reach
for some students who aspire to
become contributing members
of the society.

“But through this gift, and
others like it, private donors
are ensuring that this is no
longer an obstacle to accessing
tertiary level education,” Mr
Butler said.

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DONATION: THE Bahamas Society of Engineers presented the College of the Bahamas with a $40,000 gift
to fund the Peter Gordon Memorial Bursary at Chapter One Bookstore on Wednesday, October 27. Pic-
tured from left: Dr Robert Reiss, president of the Bahamas Society of Engineers; College president Dr Ear-
la Carey-Baines; widow of the late Mr Gordon, Linelle Gordon; COBUS president Antonio Butler, and chair-
man of the BSE scholarship committee Robert Deal Jr.

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Ul

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FRIDAY.

its

OCTOBER 29,





2010

SECTION B ¢ business@tribunemedia.net



BIC slams
a ‘flawed’
URCA study

* State-owned carrier
says cellular call
termination rates 47%

Robin Hood’s $30- | BES ‘affiliate’

buys majority

below industry average |

By NEIL HARTNELL
Tribune Business Editor

The Bahamas Telecommu- }
nications Company (BTC) has }
slammed as “flawed” the indus-
try regulator’s benchmark study

of its termination rates, argu-

are “invalidated” because none }
of the other jurisdiction stud- }
ied were comparable to the }

Bahamas’ 42-island archipel- i lion over the next four years to
? expand the retailer’s total

R In i. ee the Utilities Bahamian store portfolio from
een ompetition } the current two to six, as he pre-

Authority’s (URCA) consulta- }

ago.

tion on its draft Reference :

Access and Interconnection ? weeks for the 44,000 square

Offer (RAIO), the state-owned }

incumbent, which is in the mid-

dle of a privatisation exercise } view with Tribune Business,

as fads abana sae : i told Tribune Business that the
appomtec committee negollale + expansive retailer was looking
with Pane & Wireless, said at ? for a third Robin Hood site for
was “highly inappropriate” tO ¢ next year, with its second outlet
compare BTC’s proposed intra- }

island termination rates with }
those levied in the jurisdiction }

sample selected.

“The other termination rates }

represent tariffs for call termi-
nation on a single island or
small group of islands,” BTC

comparable to a situation }
where call termination is pro- }
vided across 42 islands in the }

Bahamas using an extensive
under-sea cable network.

“The very first responsibility
when conducting a benchmark
study is to ensure that service
definitions for the peer group
are comparable, and URCA
has failed in this important first
step. This is such a flaw in the
comparison that it invalidates
any conclusions, preliminary or
otherwise, relating to this
benchmark study.”

As for its cellular termina-
tion rates, BTC said the pro-
posed charge was low in com-
parison with other regional
rates. The Bahamas’ rate of
$0.0724 per minute, it added,
was lower than the $0.0746
charged in Trinidad, the
$0.1184 levied in Anguilla,
$0.1441 in the eastern
Caribbean, and the $0.2251
charged in the Cayman Islands.

“It is clear from the graph
that Bahrain is such an outlier
compared with Caribbean
benchmarks that a more rea-
sonable conclusion would be

SEE page 5B

Cable urges 46%
fall in BIC data
entry costs

By NEIL HARTNELL
Tribune Business Editor

Cable Bahamas is arguing
that the Bahamas Telecommu-
nications Company (BTC)
should reduce the per data
entry charge under its Refer-
ence Access Interconnection
Offer (RAIO) by a further 46.4
per cent, from $1.91 to $1.02,
and has called on the regula-
tors to mandate “zero-based”
interconnection rates for local
call termination.

Responding to the Utilities
Regulation & Competition
Authority’s (URCA) public
consultation on BTC’s draft
access and interconnection
offer, the BISX-listed commu-
nications provider said BTC’s
consumer prices for local fixed-
line voice calls “appear to be
set at a level that is below cost
and subject to flat rate pricing,
even though a substantial por-
tion of the corresponding costs
are traffic-sensitive”.

Arguing that this could act
as an anti-competitive barrier
to other telecoms operators
(such as itself, given that Cable
Bahamas is eager to enter the
fixed-line voice market, espe-

SEE page 7B

$40m growth plan

| Mi Retailer eyeing growth from two to six stores in four years, with expansion
' to Abaco and Freeport
| I ‘Hundreds of jobs’ to be created within next 10 months, with hiring for
: 100-plus at Robin Hood set to begin in three weeks
| i Fixtures/furnishings costs drop by 60-70% as result of recession

I Fifty-five-65 contractors and tradesmen working to ready Prince Charles

site for pre-Christmas

i By NEIL HARTNELL

ing that the conclusions drawn Tribune Business Editor

over its fixed-line voice services

Robin Hood’s principal yes-
terday said he was looking at
investing a further $30-$40 mil-

pares to start hiring more than
100 persons over the next few

foot new Prince Charles outlet.
Sandy Schaefer, in an inter-

- the converted former Pepsi-
Cola manufacturing facility -

SEE page 3B

EXPANDING: New Robin Hood sh
Charles Drive.

Airlines grounded

argued. “This is obviously not :

by Customs over
aircraft sums owed



GLENN GOMEZ

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The Customs Department
is preparing to demand that
numerous Bahamian airlines
and charter operators hand
over what amounts to millions
of dollars in unpaid Customs
and Stamp duties allegedly
owed on previously imported
aircraft, or face having their
aircraft seized.

Glen Gomez, Comptroller
of Customs, said his depart-
ment’s move comes after an
investigation lasting several
weeks, which culminated in
the discovery that “a fair
amount” of all Bahamian
operators owe the department
money for planes - $700,000 in
the case of one unnamed local
airline.

Aircraft are dutiable at 10
per cent, noted Mr Gomez,
who further revealed that the
department is still determin-
ing whether airlines and char-
ter operators will pay a penal-
ty on the allegedly overdue
duty, potentially adding to the
financial burden.

Randy Butler, chief execu-
tive of Sky Bahamas, said he
had been informed by a
senior Customs officer that
the duty was to be demanded
of his company in a recent
meeting. He told Tribune
Business it is likely that sev-
eral operators may be asked
to pay out “several hundred
thousand dollars” each if the
department goes ahead with
collecting the duties.

“The Government had on
the books this 10 per cent
Stamp tax on planes coming
into the Bahamas but it was
never collected. Now they
want to go back to all the
ones which have been here
for years,” said Mr Butler,
who suggested it was an over-
sight on the part of Customs

SEE page 4B



* Department says
one airline owes
$700,000 in unpaid
Customs and Stamp
duty on imported
planes

* Operators believe
demand for extra
taxes ‘will kill us all’

FG FINANCIAL

PENSIONS & INVESTMENTS

call us today at 396-4080

FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET | www.famguardbahamas.com



The information contained is from a third
party and The Tribune can not be held
responsible for errors and/or omission |
from the daily report,



FAMILY GUARDIAN

INSURANCE COMPANY LIMITED



City Markets
shareholding

* Deal for undisclosed sum set to close by

November 5

* Union feels 700 jobs ‘safe whatever happens’
* Wholesaler’s plans to integrate retailer likely
to shake up Bahamian wholesale/retail industry

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A company that grocery industry sources last night said
was affiliated with Bahamas Food Services and its principal,
Ben Frisch, has signed a preliminary agreement to pur-
chase the majority 78 per cent stake in City Markets held by
the BSL Holdings investor group in a deal which, if it goes
through, will shake-up the Bahamian retail and wholesale

sectors.

Derek Winford, City Markets chief executive, confirmed
in a statement yesterday afternoon that a Bahamian com-
pany, Associated Grocers of the Bahamas, had signed a
Memorandum of Understanding (MoU) to purchase BSL
Holdings’ 77.782 per cent interest in the troubled 11-store
supermarket chain, adding that the buyer had “the necessary
tools and resources to reengineer and revitalise Bahamas
Supermarkets’ operations to make it a viable, competitive
and profitable company”. No purchase price was disclosed,

SEE page 6B



Developer sees 20%
rise in rental prices

By ALISON LOWE
Business Reporter

alowe@tribunemedia.net

A major Exuma developer
has seen a 20 per cent
increase in property rental
prices and a “good year” for
sales, crediting the re-open-
ing by Sandals of “anchor ten-
ant”, the Emerald Bay prop-
erty, for improving business
conditions.

Randy Hart, managing
director of February Point -
a high-end boutique resort
community in Great Exuma
- said he believes part of the

improvement in prospects fol-
lowing the “dark ages when
the sky was falling down” eco-
nomically, due to the closure
of the Emerald Bay property,
was because his resort was
already relatively well estab-
lished in comparison to other
similar developments.

His comments on the
impact Sandals has had on
business for February Point
stand in contrast to those
from Exuma Chamber of
Commerce president, Floyd

SEE page 4B



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PAGE 2B, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE



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The Bahamas Financial Ser-
vices Board (BFSB) celebrat-
ed the 10th anniversary of its
Industry Excellence Awards
programme last week at a
Gala Dinner.

The recipients for the 2010
Student of the Year, Achiever
of the Year, Professional of
the Year and Executive of the
Year were announced.

Also recognised at the
awards ceremony were the
recipients of the 2010 Devel-
opment and Promotion
Award, and the new BFSB
Mentorship Award. The latter
was introduced this year to
commemorate the anniversary
celebration.

The 2010 Recipients are:

Achiever of the Year:

* Dominique L. Glinton,
legal administrator/office man-
ager, Glinton Sweeting
O'Brien

Professional of the Year

* Veronica Moncur-Sher-
man, team head, Asia Desk,
UBS Trustees (Bahamas)

Executive of the Year

* John M. Lawrence, chair-
man, Windermere Corporate
Services

Student of the Year
* Edmund T. Bain - BBA
Accounting:

The Bahamas Financial Ser-
vices Board (BFSB) selected
Pamela L. Klonaris for its 2010
Development & Promotion
Award in recognition of her
development of the
SMART(c) Fund 006 Model.

Eve M. Burrows-Poitier,
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f
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PROFESSIONAL OF THE YEAR : L to R - Deputy Prime Minister Brent

Symonette and Monalisa Stubbs of UBS Trustees Bahamas, accepting
the award on behalf of Veronica Moncur-Sherman.



. |

ACHIEVER OF THE YEAR: L to R - BFSB Shaina Paul Winder,

Deputy Prime Minister Brent Symonette, Dominique L. Glinton, AIBT

chairman David Thain.

nomics, Banking & Finance
Department, College of the
Bahamas) was chosen as the
recipient of the first Mentor-
ship Award.

BFSB introduced the Indus-
try Excellence Awards Pro-
gramme in 2001 in collabora-
tion with the FSI Industry
Associations to recognise

ss

excellence in performance
among industry practitioners.
This year, the Association of
International Banks & Trust
Companies in the Bahamas
(AIBT) joined forces with
BFSB to enhance the profile
of the annual Financial Ser-
vices Industry Excellence
Award.

ALL TOGETHER: Pictured left to right: Dianne Bingham, Tanya Hanna, Anita Bain, Samantha Symon-
ette, George Carey , Clement Penn, Nicole Pratt-Rolle, Timothy Colclough, Paul Winder, Dena Andrews,

Samuel Haven.

A RoyalFidelity Merchant Bank & Trust
pensions manager was the guest speaker at
the monthly Society of Trust and Estate
Practitioners (STEP) luncheon meeting at
the British Colonial Hilton on 21st Octo-

ber, 2010.

Cleora Farquharson presented on pen-
sion trusts in the Bahamas, focusing on the

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UNE242.COM



THE TRIBUNE





Resort remains
on the market

The 32-room Peace and
Plenty boutique resort in Exu-
ma remains up for sale, but has
attracted little interest so far,
its general manager said yes-
terday.

Charlie Pflueger said reno-
vations have been undertaken
on the property - including a
new roof, replaced windows
and a paint job - to enhance its
attractiveness to would-be
investors.

Plans to formally market the

hotel, which overlooks Eliza-
beth Harbour in Great Exuma,
have yet to be put in motion,
but its availability has been
made known by word of
mouth, said Mr Pflueger.

The property has been avail-
able since its owner died over a
year ago, and his two sons
determined that they would sell
the asset.

Mr Pflueger said he believes
a price tag of around $8.5 mil-
lion would be attached to the

Peace and Plenty, although this
has not been pinned down.

The mini-resort has been
closed for its seasonal renova-
tions since mid-August and has
yet to re-open.

“We'll be closed a little
longer this year. Business is a
little light, so we’re not in any
hurry. We’re doing painting
and repairing, and we’ll proba-
bly re-open around Decem-
ber,” said the general manager.

FROM page 1B

still on target for a pre-Christmas 2010 opening.

“We’re looking for another four to five acres to
build our own shopping centre, probably some-
where in the south,” Mr Schaefer said of plans for
a third Robin Hood store in New Providence.
“T think there’s a great market unexplored down
there. I have a couple of options we’re looking at,
and if anyone has land they’re looking to sell
cheaply, give me a call.

“Beyond that, we’re looking for a fourth store
and then will consider New Providence totally
developed. Our logical next step will be Abaco
over Freeport, and then we will do Freeport, all
in the next three to four years.”

Asked how much investment this would
involve, Mr Schaefer told Tribune Business: “If
you look at everything involved - the cost of
acquiring the land, building the shopping cen-
tre, fixturing it and stocking it, you’re looking
at a minimum for another four locations of any-
where from $30-$40 million.”

Some 55-65 contractors and tradesmen are
working feverishly to get Robin Hood’s Prince
Charles store ready for a pre year-end opening,
and Mr Schaefer added: “I would say that as far
as the building is concerned, we’re better than 50
per cent of the way there. We’re actually going to
start stocking the store in the next three-and-a-
half to four weeks.”

Fixtures and the refrigeration equipment were
set to be installed from yesterday, and Mr Schae-



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$40m growth plan

fer said Robin Hood had invested around $1.7
million in upgrading the building it inherited
from Pepsi-Cola in what was a $2.05 million
transaction. He revealed that the drinks manu-
facturer had rejected a higher $3 million offer
from the retailer some 12 months before.

Apart from $2-$2.5 million in inventory need-
ed to stock the Prince Charles store, Mr Schaefer
said Robin Hood was spending less than $1 mil-
lion in fixturing and outfitting the property,
explaining to Tribune Business that the reces-
sion had depressed furnishings/fixtures prices by
some 60-70 per cent compared to what he would
have paid three years ago.

Apart from the new Robin Hood store itself,
Mr Schaefer confirmed that he also plans to con-
struct -beginning in December or the New Year
- a $4-$4.5 million, 44,000 square foot, two-floor
shopping centre on the same four acre property.
It will be located in front of Robin Hood, closer
to the actual roadway itself.

“T’m sure you’re looking in the hundreds,” he
said, when asked about the number of jobs set to
be created by his expansion venture.

“There’s hundreds of jobs to be created with-
in the next 10 months.”



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PAGE 4B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



Airlines grounded by Customs over aircraft sums owed

FROM page 1B

that led to the situation.

He said the move would
“bring further hardship and
undue burden on an industry
which is trying to grow” at a
time when they are being - or
may soon be squeezed - by
increases in other Customs
duties, Civil Aviation and
Business Licence fees, as well
as a lowering of rates by their
main competitor, Bahamasair,
which is government-sub-
sidised.

But Mr Gomez said: “We
are seeking to collect what
should’ve been paid before.”

Asked whether the airlines
will be asked to pay in one
lump sum or can pay in phas-
es, the Customs chief said the
department is “not unreason-
able”.

“Tf that’s what needs to be
done we can look at that,” he

FROM page 1B

Armbrister, who told Tribune
Business two weeks ago that
Exumians were disappointed
at the lack of trickle-down
impact from Sandals on the
island’s economy, which he
connected with its all-inclu-
sive model.

Mr Hart said that since the
re-opening of Sandals and the
introduction of increased air-
lift to Exuma, such as direct
flights from Toronto, expo-
sure for the development is
up, although potential
investors are more cautious.

“People have become more
discerning now - they are not
buying into every start-up
project or every dream on the
island - they are looking for
things they know are stable
and will be there in a couple
of years, and I think that’s one
of the selling points for our
development. We have the
critical mass of infrastructure
in place,” said Mr Hart.



BKG/410.03



RANDY BUTLER

said. Mr Gomez would not
reveal which airlines have so
far been found owing duty,
how many of them there are
or exactly what they may be
deemed to owe. He said that
in some cases the aircraft on
which duty was outstanding
have been in the country for
several years.

As for the penalty that

could be imposed, the Comp-
troller said: “Everybody
would more than likely be
treated similarly, but once we
have sat down with everybody
then it will be determined,
understanding and appreciat-
ing that some people may
have done what they did in
ignorance, although that’s not
the case with everybody.

“Tf you were ill-advised we
could take that into consider-
ation, but there are others
who have been in business for
quite some time and are well
aware of rules and regulations
governing planes coming into
the country.”

Mr Gomez said the Depart-
ment intends to step up its
vigilance regarding planes
being brought into the coun-
try.

Asked how Customs has
overlooked the planes on
which duty should have been
levied until now, he said:
“Some people go and pur-

Developer sees 20% rise in rental prices

Mr Hart described the busi-
ness environment in recent
years as a “survival of the
fittest”.

“A few years ago we
would’ve had dozens of com-
petitors. Now there’s a very
short list of developments in
the Family Islands in terms of
planned high-end boutique
resort communities. There’s
a short list of survivors,
excluding Nassau and Grand
Bahama,” said the managing
director of the 80-acre com-
munity, which offers rentals,
fractional ownership and cus-
tom homes.

Nonetheless, Mr Hart
spoke up at the Exuma Busi-
ness Outlook seminar on
Wednesday to question Min-
ister of State for Finance,
Zhivargo Laing, on how much
of the millions in “stimulus”
the Government has sought
to inject into the Bahamian

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economy through capital
works projects had benefited
Exuma, suggesting there’s a
“long shopping list” of out-
standing infrastructural needs
on Great Exuma that need to
be addressed for the benefit
of locals and visitors if growth
is to be maximised.

Primary among these,
according to both Mr Hart
and Chamber of Commerce
president Mr Armbrister, are
the medical facilities - or lack
thereof.

Mr Hart and Mr Armbris-
ter suggested that the inade-
quacy of the health clinic - at
a time when Exuma’s popu-
lation has been recorded as
having more than doubled in
the last decade - is costing the
island.

Speaking at the Outlook
seminar, Mr Armbrister said:
“Exuma’s economy again is
experiencing significant set
backs because of the fact we
don’t have adequate medical
care. A young lady said to me
her child was experiencing
seizures on an ongoing basis.
They had to take a flight to
Nassau and it cost them

chase a plane and then have a
foreign pilot carry it into the
country. Some may bring in
a plane and they may tell us
that they’re looking at using
the plane for a short time to
see if they like it before decid-
ing if they’re going to pur-
chase it.

“Often times the person
checking in that person may
not see that plane being flown
inter-island. Different offices
do different tasks.”

Andrew Kelly, of Abaco
Air, said he believes Bahami-
an airlines should be given
special consideration when it
comes to duty.

“They are an important
part of the Bahamas because
of the geographics. We need
them to help move Bahami-
ans and tourists around, and
anything the Government can
do to assist with this would
be great. The aviation busi-
ness is a very regulated busi-
ness. We have a lot of expens-

$5,000. Then, when they got
to Nassau, they looked at the
child, gave the child a shot,
and said: “This is what you
came for?’.

“Tf the economy of Exu-
ma is to be restored and sus-
tainable then a number of
things need to happen - some
private sector, some by gov-
ernment - and I think infra-
structure improvement is one
of those things we need.”

Meanwhile, Mr Hart told
Tribune Business that when
he recently broke a bone in
his foot, he had to fly to Nas-
sau because of a lack of x-ray
facilities or even a pair of
crutches on the island.

“The population has effec-
tively doubled in a decade but
the infrastructure has
declined,” said Mr Hart,
speaking more generally of
infrastructural conditions.

“Georgetown is in dire
need,” he added, echoing
director-general of tourism
David Johnson, who earlier
told the seminar that the
dilapidated government dock
must be replaced, a “heavy
cleaning” of Georgetown
should take place and a halt-
ing of emissions of untreated
sewage into local harbours
must stop.

IMPORTANT NOTICE

We wish to advise the public that the
Valley Boys Grand Raffle, Schedule
for Saturday October 30th, 2010 has
been rescheduled to Saturday Novem-
ber 20th, 2010. The raffle will be drawn
at 6:00pm at Tyreflex Wulff Road.
We apologize for any inconvenience

caused.

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 28 OCTOBER 2010

The Valley Boys

EJ EG CAPITAL MARKETS
Sq BROKERAGE & ADVISORY SERVICES

ere i ca wT A TT.

BISX ALL SHARE INDEX: CLOSE 1,488.77 | CHG -2.14 | %CHG -0.14 | YTD -76.61 | YTD % -4.89

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

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

AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard
Fince
FirstCaribbean Bank
Focol (S)
Focol Class B Preference
ICD Utilities
J. S. Johnsen
Premier Real Estate 5 10.00 a
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Securit Last Sale Change Daily Vol.
Bahamas Note 6.95 (2029) 0.00
Fidelity Bank Note 17 (Series A) + 100.00 0.00
Fidelity Bank Note 22 (Series B) + 100.00 0.00
Fidelity Bank Note 13 (Series C) + 100.00 0.00 T%
Fidelity Bank Note 15 (Series D) + 100.00 0.00
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)

Symbol Bi Ask © Last Prince: Daily Wo.
Bahamas Supermarkets i 6.01 14.00
RND Holdings

0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)

ABDAB
RND Holdings 0.45 0.55 0.55
BISX Listed Mutual Funds
Fund Name ‘9
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund
Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 — Royal Fidelity Bah Int Investment Fund Principal
Protected TIGRS, Se 4

1.539989

109.392860
100.779540

10.0000
10.5308
9.1708
9.4372
7.8830

4.8105 .
MARKET TERMS

Royal Fidelity Int'l Fund - Equities Sub Fund

BISX ALL pale INDEX - 19 Dec 02 = 1,000.00
+t 52

le
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

Prime + 1.75%

Prime + 1.75%

EPS $

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

Div & P/E

1.524278

107.570619
105.776543

30-Sep-10
30-Sep-10
30-Sep-10

31-Aug-10
30-Sep-10

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

es, insurance, fuel, landing
fees, so many regulatory
things to deal with. Probably,
if you’re lucky, yoiu might
make 10 per cent at end of
year. If they do this they

might as well close us down.
Right now, we’re just strug-
gling to pay staff. If they
impose that on operators it
will kill us all.”

DONALD CURRY of Lewis Street #21,

NOTICE
MICATUNA MANAGEMENT LTD.

NOTIC EIS HEREBY GIVEN as follows:

MICATUNA MANAGEMENT LTD. is in
voluntary dissolution under the provisions

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

The dissolution of the said company
commenced on the 26th October, 2010 when
the Articles of Dissolution were submitted to
and registered by the Registrar General.

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

Dated this 29th day of October, A. D. 2010

CST Administration (Bahamas) Limited
Liquidator

NOTICE
QUAYSIDE LIMITED

NOTIC EIS HEREBY GIVEN as follows:

QUAYSIDE LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

The dissolution of the said company
commenced on the 12th October, 2010 when
the Articles of Dissolution were submitted to and
registered by the Registrar General.

The Liquidator of the said company is Manex
Limited, The Bahamas Financial Centre,
Shirley & Charlotte Streets, Nassau, Bahamas

Dated this 28th day of October, A. D. 2010



Manex Limited
Liquidator

NOTICE

NOTICE is hereby given that TELUS GINETTE of CHARLES
VINCENT STREET, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should not be granted,
should send a written and signed statement of the facts within twenty-
eight days from the 22"4 day of October, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box N-7147, Nassau,
Bahamas.



PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CREIGHTON
PO.
Box N 4135, Nassau, Bahamas intends to
change my name to MARIO DONALD CURRY.
If there are any objections to this change
of name by Deed Poll, you may write such
oe ections to the Chief Passport Officer, RO.Box
42, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that SHERLEAN PREMILIEN
of P.O.Box N7060, FAITH GARDENS, NASSAU, THE
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 22"¢ day of
October, 2010 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CATHERINE ANITA
MOULTRIE of NO. 1 VISTA MARINA, NASSAU, THE
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 22"4 day of
October, 2010 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CHARITE VIL of ELIZABETH
ESTATES, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person
who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the
tacts within twenty-eight days from the 22"4 day of October,
2010 to the Minister responsible for nationality and Citizenship,
P.O. Box N-7147, Nassau, Bahamas.



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



THE TRIBUNE

FROM page 5B

that Bahrain may not provide a
relevant comparison,” BTC
said.

If the non-Caribbean tariffs
were removed from URCA’s
sample, the Bahamas would
have the lowest cellular termi-
nation rate, well below the
regional average of around
$0.14 per minute.

“We suggest that based on
the above comparison, the first
indication (and indication only)
is that BTC’s suggested rate for
mobile termination rates are
low by regional standards,”
BTC argued. “Tn fact, they are
47 per cent lower than the
straight average presented
(BTC’s 7.24 cents per minute
versus a regional average of
$13.6 cents per minute, exclud-
ing the proposed Bahamas tar-
iff).”

URCA had argued that the

FRIDAY, OCTOBER 29, 2010, PAGE 5B

BIC hits out at a
‘flawed’ URCA study

cost base used by the Bahamas
Telecommunications Company
(BTC) to draft its initial inter-
connection offer was effective-
ly over-valued by 70 per cent,
resulting in it significantly
reducing the tariffs the state-
owned incumbent proposed to
levy on rival operator.

URCA said that prior to the
interconnection costs adjust-
ment, a benchmarking exercise
showed that BTC's per minute
charges for calls terminating on
its fixed-line network were "sig-
nificantly higher than those in
any of the competitor coun-
tries".

BTC's initial 3.35 cents per
minute for terminating inter-
island calls was "twice as high
as the sample average", but the
revised fixed-line termination

rates were "more in line” with
rivals, below the likes of Malta,
Trinidad and Anguilla. How-
ever, even the revised fixed-line
termination rates were higher
than the sample average.

As for network transit
charges, BTC's proposals were
described as "very high com-
pared" to the other sample
countries, with the sample aver-
age excluding the Bahamas
standing at 0.61 cents per
minute - well below the four
charges proposed by BTC. The
revised charges imposed by
URCA brought BTC more into
line, but transit services using
two interconnection points
would still be "the highest”.

While BTC's on-island cel-
lular call termination charge of
7.24 cents per minute was low-
er than other Caribbean juris-
dictions, its call charge for the
emergency services was the sec-
ond highest even with the
URCA-imposed reductions.

An established Nassau based company seeks to fill the position of
Assistant Financial Controller. All applicants MUST possess the

following:

* Passing grades on all parts of the CPA examination.

¢ 1-2 years experience working with an Accounting firm.
¢ Strong analytical skills.
* Strong organizational skills with the ability to work independently.
¢ A thorough working knowledge of Microsoft Excel.

¢ The ability to learn quickly.

¢ Excellent communication and team work skills.

¢ The ability to manage multiple tasks and responsibilities

simultaneously.

Interested persons should submit their resumes

via e-mail to:

asstfinancialcontroller@hotmail.com

All resumes must be received by 19% November 2010.

Only persons meeting ALL of the requirements above need apply.

The American Embassy is presently considering applications for the

following position:

PROCUREMENT CLERK

The incumbent is responsible for data entry in multiple software systems
and maintaining the data bases; collecting, sorting, and filing all
correspondence in the Procurement Office.

Purchases a variety of goods and services for the Embassy and associated
agencies, establishes and maintains vendor relationships and provides
clerical support for the procurement section.

This position is open to candidates with the following qualifications:

‘Completion of secondary school,
‘Two years administrative/clerical work,
‘One year of purchasing experience,

PERSONAL ATTRIBUTES:

‘Must be able to use Microsoft word and Excel Software and have
knowledge of database maintenance.
«Must have the ability to type at least 35 WMP and have the ability to

research various potential sources for procurement.

‘Knowledge of the local market is a must.
‘Must have a valid driver's license and a clean driving record.

BENEFITS PROVIDED INCLUDE:

The successful candidate will be offered an excellent compensation
package including perfonmance-based incentives, medical and dental
insurance, life insurance, pension and opportunities for training and

development.

Applicants must be Bahamian citizens or US, citizens who are eligible for

employment under Baharnian laws and regulations.

Application forms can be found on the Embassy's website
nassau.usembassy.gov. under Key Embassy Links and employment
opportunities. Completed applications should be returned to the Embassy
via email to NassauHR@state.gov or fax to (242)328-7838, addressed to the
Human Resources Office no later than Monday, November & 2010.

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




























BDO BAHAMAS

receives
INTERNATIONAL QUALITY SUMMIT AWARD

In New York earlier this year, BDO Bahamas received the International Quality
summit Award in the Platinum category in recognition of continued commitment
to quality, excellence, leadership and Innovation by the Business Initiative
Directions (BID); a leading private business entity.

BDO Bahamas is pleased to be recognized on this global stage. Mr. G. Clifford
Culmer, Senior Partner, was proud to receive the award, and thanked the Council,
committees, companies and sponsors who submitted and voted for the firm.

BDO Bahamas, founded in 1977 by G. Clifford Culmer, has provided accounting,
auditing, insolvency, corporate finance, corporate recovery and restructuring,
forensic investigations and business consulting to owner managed businesses,

multinational corporations and public sector entities worldwide, BDO Bahamas is
a member of BDO International, the world's fifth largest accountancy organization.

ra as

eT]
? Summit
-, eerie 8

stall eile

PHOTO ENCLOSED:
Pictured above is Mr Jose E Prieto, Executive President of BID,
presenting the International Quality Summit Award
in the Platinum category to Mr. G. Clifford Culmer, Senior Partner of
BDO Bahamas.

eee

International Company Seeks to Employ

SALES AND MARKETING
MANAGER

Must:

- Be proficient in Microsoft applications and sales
software

- Have Bachelors Degree in Marketing
- Have experience in web and graphic design
‘Have 5 years + sales experience

‘Have increased sales and market share of previous
employers

- Have experience with cold calling as well as
meeting with prospects to introduce products

- Be willing to travel extensively

‘Be Personable, sales oriented and motivated

Please send resume to cgagnon@ucftrading.com



PAGE 6B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



a2 ee |
BES ‘affiliate’ buys majority City Markets shareholding

FROM page 1B

although it will be substan-
tially less than the $54 million
that BSL Holdings paid
Winn-Dixie in 2006.

The deal between BSL
Holdings — which is majority
owned by Trinidadian con-
glomerate Neal and Massy —
and Associated Grocers of the
Bahamas Limited (AGBL) is
subject to regulatory approval
and due diligence, and is
“expected to close on or
before November 5, 2010”,
said Mr Winford.

He did not name who was
behind Associated Grocers of
the Bahamas, describing this
as “an interesting question”
when contacted by Tribune
Business, but this newspaper’s
inquiries revealed that it is at
least affiliated with Bahamas
Food Services and Mr Frisch.
It is possible that the compa-
ny is Bahamas Food Services
by another name, but that
could not be confirmed at
press time last night.

If the deal is concluded, it
will create the Bahamas’ first
integrated wholesaler/super-
market retail operation, and
could ‘upset the apple cart’ in
both industries. Mr Frisch,

“We expect that
after the transfor-
mation a significant
number of jobs will
be preserved and
this was the main
motivation behind
the transaction.”

———SSsSSS
who owns Jacksonville-based
Beaver Street Fisheries, par-
ent of Bahamas Food Ser-
vices, and his management
team were yesterday said to
have contacted their other
Bahamian retail customers to
see if they could continue to
buy from the Bahamian
wholesaler if the City Mar-
kets deal went through.

Concerned

It would thus appear that
Bahamas Food Services/Mr
Frisch are concerned about
following the example of
Solomon’s, who lost numer-
ous retail customers when it
went into retailing. However,
Bahamas Food Services is the

COMMONWEALTH OF THE BAHAMAS

2010

IN THE SUPREME COURT

Equity

No. 1323

NOTICE

The Petition of LEYVON AND JOYCELYN
MILLER is in respect of the following parcel of

land:-

ALL THAT piece or parcel or tract
of land containing a total acreage of Seven
Thousand Six Hundred and Eight (7,608)
square feet situate in a Subdivision called and
known as Englerston Subdivision in the Central
District of the Island of New Providence, one
of the Islands of The Commonwealth of The

Bahamas.

Copies of the filed plan may be inspected
during the formal hours at:-

(a) The Registry of The Supreme Court,
Ansbacher House, East Street
North, Nassau, Bahamas, and;

The Chambers of Kingdom
Advocates & Associates, Rosetta
Street, Palmdale, Nassau, Bahamas.

Notice is hereby given that any person
having right to dower or any adverse claim

not reco

ized in the Petition shall within

thirty (30) days after the last day on which the
appearance of the Notice herein filed in the
Registry of The Supreme Court and serve on
the Petitioner or the undersigned a statement
of such claim. Failure of any such person to
file and serve a statement of such claim and
requisite documents within thirty (30) days
herein will operate as a bar to such claim.

Dated this 15" day of July, A.D., 2010
YOLANDA K.J. ROLLE

Attorney for the Petitioner

(D. 15, 17, 19)

pay less for insuring your car!



dominant player in supplying
meats and other produce to
the Bahamian restaurant and
hotel sector, including
Atlantis, and would thus have
a cushion if it lost any retail
customers.

And the company now has
a direct retail outlet through
which is can distribute its
products, with the integrated
retail/wholesale model allow-
ing it to obtain better mar-
gins, control costs and sell
exclusive product lines.
Bahamas Food Services’ lead-
ing position in the wholesale
market was recently strength-
ened through its acquisition
of Prime Bahamas, adding
1100 stockkeeping units
(SKUs) or product lines to its
existing 8,000, creating a com-
pany with 8,000 SKUs.

“Tt may be too much of a
controlling interest in one per-
son’s hands,” a source said,
suggesting that Bahamas
Food Services and Mr Frisch
were now doing their due dili-
gence.

The Bahamas Food Ser-
vices/Frisch purchase of City
Markets, if it goes through, is

likely to cause some conster-
nation among other whole-
salers/grocery retailers. Many
industry observers had pri-
vately questioned to Tribune
Business why the wholesaler
would be interested, given
City Markets’ immense prob-
lems and $27 million in col-
lective losses suffered in the
four years under BSL Hold-
ings’ ownership.

They queried why anyone
would want to take the com-
pany over, given the union,
pension fund and staff sepa-
ration package issues, plus
associated costs. Many gro-
cery industry observers had
suggested the obvious course
would be to let City Markets
slide into
administration/receivership,
letting interested parties
‘cherry pick’ the assets they
wanted.

The deal shows that Neal
& Massy has been rapidly
shopping City Markets
around to a variety of buyers.
Apart from AML Foods, Tri-
bune Business understands
that both Robin Hood’s
Sandy Schaefer and Super-

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value’s Rupert Roberts were
approached to see if they
were interested, with the price
said to range from $10-$25
million. The latter two had no
interest, Tribune Business
understands.

Yesterday’s statement from
Bahamas Supermarkets
added that after closing the
transaction, it is expected that
the company under its new
ownership will continue to
operate City Market stores
“while it develops a rational-
isation plan”.

Mr Winford said: “The
Bahamas’ food retailing land-
scape has changed dramati-
cally over the last few years,
and Associated Grocers
brings the necessary tools and
resources to reengineer and
revitalise BSL’s operations to
make it a viable, competitive
and profitable company.

Preserved

“We expect that after the
transformation a significant
number of jobs will be pre-
served and this was the main
motivation behind the trans-
action.”

An unidentified spokesper-
son for Associated Grocers
said: “City Markets has a long
history of food retailing in the
Bahamas and is part of the

fabric of the community. We
are confident that the compa-
ny will thrive under our stew-
ardship and regain the promi-
nence it enjoyed in years
past.”

Mr Winford noted that the
22.238 per cent of Bahamas
Supermarkets owned by the
Bahamian public is “unaf-
fected under the transaction”.
He added that he was opti-
mistic the company would be
restored to profitability quick-
ly, and “shareholder value
would soon reflect the
improvement in the compa-
ny’s financial position.”

Elgin Douglas, president of
the Bahamas Commercial
Stores, Supermarket and
Warehouse Union, which rep-
resents around 300 of City
Market’s employees, held a
meeting yesterday with Mr
Winford prior to the
announcement of the deal, in
which he said he felt assured
that employees’ jobs would
be “safe whatever happens”.

“The first priority is the
workers,” said Mr Douglas.
Although the wording of Mr
Winford’s later statement
introduced a level of uncer-
tainty into the equation, the
union president said that he
was “under the impression
employees will not be laid off
whatever happens”.

NOTICE

IN THE ESTATE OF PENELOPE
ANNE HEWITT domiciled and late of
5 Avocet Quay Emsworth, Hampshire,

England, deceased.

NOTICE is hereby given that all persons having
any claim or demand against or interest in the
above Estate should send same duly certified
in writing to the undersigned on or before 29th
November, 2010 after which date the Executor

will proceed to distribute the assets of the Estate
having regard only to the claims, demands or
interests of which he shall then have had notice
AND all persons indebted to the above Estate
are asked to settle such debts on or before 29th
November, 2010.

FREDERIK F. GOTTLIEB & CO.
Attorneys for the Executor
P.O. Box AB-20405
Bay Street, Marsh Harbour
Abaco, The Bahamas





Dear wealth manager, are
you motivated by budgets,
sales targets and discre-
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Bank & Trust (Bahamas) Ltd
is probably not the wealth
manager for you.

The essence of wealth management is rela-

tionships; we create the conditions for them to

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they see fit, free from budgets, sales targets and

arbitrary remuneration. Treated as professionals,

they are empowered to run a business and re-

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At EFG, we're looking for a different kind of
wealth manager: a client-centred entrepreneur.

Fans of internal bureaucracy need not apply.

Practitioners of the craft of wealth management

EFG Q Bank & Trust (Bahamas) Ltd

We are currently looking for four wealth managers. If you are interested in joining
us, please get in touch with Steve Mackey, CEO, EFG Caribbean * T 1 242 502 5400 +
F 1242 502 5487 + steve.mackey@efgbank.com

EFG Bank & Trust (Bahamas) Ltd is part of EFG International, which operates in
over 50 locations in 30 countries * www.efginternational.com

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



THE TRIBUNE

FRIDAY, OCTOBER 29, 2010, PAGE 7B



=
Cable urges 46% fall in
BIC data entry costs

FROM page 1B

cially if its System Resource
Group (SRG) acquisition goes
through), because they would
find it impossible to replicate a
competing service to BTC,
especially if the latter charged
other operators an intercon-
nection tariff, Cable Bahamas
urged URCA to mandate
“zero-based interconnect rates
for local termination”.

These, it added, should be
maintained until BTC proved
its local fixed-line voice tariffs
were “cost-based and not
predatory”. Cable Bahamas
said: “In order to allow other
licensed operators (OLOs) to
replicate BTC’s local voice ser-
vice offering, URCA should
require that, until such time as
BTC proves that its local voice
tariffs are not predatory, BTC’s
rates for local call termination
must be set at, or close to,
zero.”

Elsewhere, Cable Bahamas
said it was “essential” for
URCA to determine whether
BTC’s cellular services would
be priced according to whether
the caller or receiver pays prior
to approving the state-owned
incumbent’s RAIO. Without
this, the BISX-listed operator
said it would be impossible to
determine whether the RAIO,
and fixed-line to cellular inter-
connection rates, were “rea-
sonable and not anti-competi-
tive”.

Calling for BTC to establish
a direct point of interconnec-
tion with its cellular network,
Cable Bahamas also expressed
concern that requiring other

RBC
FINCO

operators to be routed via a
transit service “would allow
BTC to anti-competitively
increase its rivals’ costs and,
potentially, to degrade another
licensed operator’s service qual-
ity”.

And Cable Bahamas also
described as “unacceptable”
BTC’s plans to provide only
two interconnection points with
its network, one in New Provi-
dence and the other in Grand
Bahama. Railing against BTC’s
proposal to charge national
interconnection rates for islands
where there was no point of
interconnection, Cable
Bahamas urged that these be
provided - for fixed-line and
cellular traffic - in Abaco and
Eleuthera as well.

“For example, in the case of
local calls in Eleuthera or Aba-
co from a Cable Bahamas sub-
scriber to a BTC subscriber,
Cable Bahamas would have to
convey traffic to BTC’s point
of interconnection in New
Providence or Grand Bahama,
and then BTC would have to
convey the traffic back to
Eleuthera/Abaco to terminate
the call,” Cable Bahamas
alleged.

“In such a configuration,
Cable Bahamas would have to
support the cost of carrying the
traffic on its network up to
BTC’s point of interconnection
in New Providence or Grand
Bahama, and pay for a nation-
al, inter-island, interconnect
rate.”

It also called on URCA to
mandate that BTC provide IP
(Internet Protocol) intercon-
nection on New Providence,
Grand Bahama, Abaco and

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising Lot #4,
Coral Heights Subdivision, situated in the Western District of
New Providence one of the islands of the Commonwealth of the
Bahamas. Situated thereon is an undeveloped property.

Property Size: 8,800 sq. ft

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 1851”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot Hanna
Road off Fox Hill, situated in the Eastern District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an undeveloped property.

Property Size: 10,400 sq. ft

Eleuthera within three months
after the latter’s Next Genera-
tion Network (NGN) was
deployed on those islands.
Then, with one eye on its
plans to enter the fixed-line
voice market and the SRG inte-








RBC
FINCO

gration, Cable Bahamas
renewed its calls for URCA to
prioritise an industry consulta-
tion on number portability,
arguing that this was a key bar-
rier to competition in the sec-
tor.

NOTICE
RBC FINCO INVITES TENDERS






RBC FINCO invites tenders for the purchase of the following:




“All THAT” piece parcel or lot of land comprising of Lot #3321/
22, Sir Lynden Pindling Estates, situated in the Southern District
of New Providence one of the islands of the Commonwealth of the
Bahamas. Situated thereon is an undeveloped property.







Property Size: 6,000 sq. ft.




This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS






LIMITED.

“Without some form of num-
ber portability in place, the
development of competition in
the voice market will be seri-
ously impeded because con-
sumers will find the inability to
port their numbers a major bar-
rier to switching providers,”
Cable Bahamas argued.

Calling on URCA to deter-
mine “interim arrangements for
all licencees offering fixed-line
voice services at the earliest
technically feasible date”, Cable

Bahamas added: “In light of
BTC’s near monopoly in the
provision of fixed telephony
services, its cooperation will be
essential to achieving the effi-
cient roll-out of an interim local
number portability solution.......

“URCA should further make
clear that adoption of local
number portability is a first step
towards implementation, at a
later date, of geographic num-
ber portability.”

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #1033,
Rosewood Street, Pinewood Gardens, Situate in the Southern
District of the Island of New Providence one of Residence
consisting of 2 Bedrooms and 2 Bathrooms.

Property Size: 5,000 sq. ft.
Building Size: 800 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.










All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 0567”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 1033”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

RBC
FINCO FINCO
NOTICE
RBC FINCO INVITES TENDERS

NOTICE
RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the following: RBC FINCO invites tenders for the purchase of the following:
“All THAT” piece parcel or lot of land comprising of Lot #57,
Lake Cunningham Subdivision, situated in the Western District of
New Providence one of the islands of the Commonwealth of the

Bahamas. Situated thereon is a Single Family Resedence consisitng
of 4 Bedrooms and 4 1/2 Bathrooms.

“All THAT” piece parcel or lot of land comprising of Lot Hanna
Road off Fox Hill, situated in the Eastern District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon 1s an undeveloped property.

Property Size: 10,400 sq. ft

Property Size: 13,000 sq. ft.
This property is being sold under Power of Sale contained in a Building Size: 3,880 sq. ft.
Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED. This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

All offers should be forwarded in writing in sealed envelope, LIMITED.

addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

RBC

FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot D, Sidney
Carroll’s Road situated in the Western District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an unfinished Single Family Residence consisting of 3

Bedrooms and 2 Bedrooms.

FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising Lot C, Gladstone
Allotment #2, situated in the Western District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an undeveloped property.

Property Size: 9,389 sq. ft.

Property Size: 5,531 sq. ft.
This property is being sold under Power of Sale contained in a Building Size: 1,136 sq. ft.
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS
This property is being sold under Power of Sale contained in a LIMITED.

Mortgage to FINANCE CORPORATION OF BAHAMAS

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #320,
Yamacraw Beach Estates, Situate in the Eastern District of the
Island of New Providence one of the islands of the Commonwealth
of the Bahamas. Situated thereon is a Multi Family Residence
consisting of 2 Units: a) 3 Bedrooms and 2 Bathrooms and b) 1

Bedroom and 1 Bathroom.

Property Size: 7,650 sq. ft.
Building Size: 2,255 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3358”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 3155”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #5,
Leviticus Adderley Estates, Situate in the Western District of the
Island of New Providence one of the islands of the Commonwealth
of the Bahamas. Situated thereon is a single Family Residence
consisting of 3 Bedroom and 2 Bathrooms.

Property Size: 5,000 sq. ft.
Building Size: 1,190 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3717”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3166”. All
offers must be recetved by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #6,
Marshall Road, situated in the South District of New Providence
on of the islands of the Commonwealth of the Bahamas. Situated
thereon is a Multi Family Residence Duplex consisting of 2-2

Bedrooms and 1 Bedrooms.

Property Size: 5,000 sq. ft.
Building Size: 1,563 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 9539”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.



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PAGE 8B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



Holiday Shopping Notebook: Online sales to gleam

De Ta eee USS Bs aly UA NY: any

OWNS
a

NEW YORK

Retailers at the mall may be
bracing for a tough holiday sea-
son, but their online counter-
parts are feeling more opti-
mistic.

Nearly two-thirds of retail-
ers, or 64 percent, expect their
companies’ online revenue to
increase by at least 15 percent
compared with last year,
according to a survey by the
National Retail Federation's
Shop.org online arm. That's up
from 45.8 percent that expected
an increase that size last year.

The survey, based on inter-
views with 51 top online retail-
ers Sept. 1-Sept. 27, also found
that e-commerce companies are
thinking early when it comes
to Christmas marketing. Forty
percent of online retailers will
begin holiday marketing by
Halloween, with another 40
percent planning to begin the
week of Nov. 1.

Still, despite solid sales
prospects, merchants are not
going to dump some of the
Web's most alluring incentives,
particularly free shipping.

Four out of the five online
retailers said they'll offer free
shipping at some point during
the season, and nearly one-third























Kohl’s store in Paramus, N.J.



said these offers will begin ear-
lier this year than a year ago.
Shoppers might even see more
free shipping deals this year as
almost 37 percent said their
budget for free shipping is high-
er than last year; 57 percent
said it would be about the same
while 6 percent said it would



(AP Photo/Seth Wenig, file )
HOLIDAY CAMPAIGN: In this Feb.
24, 2010 file photo, shoppers exit a

NEW YORK

Halloween hasn't even passed, but stores
already are hoping the words "Black Friday"
can work their sales magic.

Retailers are offering an array of discounts,
often touted as deals for an early Black Fri-
day, the day after Thanksgiving that's one of
the biggest shopping days of the year. They're
designed to get people spending early in hopes
of a selling season that's better than last year's,
when consumers were still spending sparsely
on non-necessities during the recession.

Toys R Us' annual 80-page holiday toy cat-
alog is set to arrive at customers' homes on
Sunday, and many items will be on sale
through Nov. 24, the company said. The toy
seller is offering a $10 gift card for spending
$75 or more and other incentives.

Kohl's Corp. is unveiling a holiday cam-
paign touting its savings programs. "Give,



save and save again with the Kohl's charge,”
one ad reads. The department store operator
will offer extended hours during the holiday
season and offer shoppers $10 in store credit
for purchases of $50 or more.

Sears plans to offer weekly early morning
sales, offered on Black Friday, beginning Fri-
day and continuing every Friday and Saturday
through Nov. 20. The department store oper-
ator is also planning two-day sales during the
season. Deals for this Friday include $70 off a
RCA 40-inch LCD TV that retails for $569.99
and $39.99 Covington women's boots for
$19.99. Sears offered similarly pitched dis-
counts on holiday items early last year; this
year it expanded the sale to two days per
week. And online merchant Amazon.com is
also offering what it is calling "Black Friday"
deals beginning on Friday, on electronics such
as Blu-ray players, HDTVs, video games and
other products.



China lays claim to fastest
Supercomputer title

BENING

A leading Chinese research
center has built the world's
fastest supercomputer, under-
scoring the country's rise as a
science and technology power-
house.

The Tianhe-1 machine
housed at the National Center
for Supercomputing in the
northern port city of Tianjin is
capable of sustained comput-
ing of 2.507 petaflops, the
equivalent of 2,507 trillion cal-
culations, per second.

An official listing of the
world's fastest supercomputers,
the semiannual TOP500, is due
to be issued Friday.

If verified, Tianhe-1 would
be faster than the U.S. Depart-
ment of Energy's Cray XT5
Jaguar in Oak Ridge, Ten-
nessee, which topped the list
issued in June at 1.75 petaflops
per second.

be somewhat lower. Forecasts
for online holiday sales are just
trickling in. But online research
firm comScore Inc. expects any-
where from 7 to 9 percent
growth this holiday season com-
pared with a year ago, when
business was up 4 percent over
the previous year, according to

its calculations. Forrester
Research is slated to come out
with its forecast in the next
week or two.

In comparison, many econ-
omists and other groups expect
holiday sales for physical stores
to be up no more than 3 per-
cent.




NOTICE

PARGO CORP. LIMITED
NOTIC EIS HEREBY GIVEN as follows:
(a) PARGO CORP. LIMITED is in voluntary

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










GN 1124

MINISTRY OF LABOUR & SOCIAL DEVELOPMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 339
THE PRICE CONTROL
(GASOLINE & DIESEL OIL)

(AMENDMENT)

REGULATIONS, 2002

The Public is agvised that prices as shown in he Schedule lor DIESEL OIL sold by Freeport
Oil Company Limited will become elfeclive on Wednesday October 27", 2070

Freeport Oil Company

Limified

SCHEDULE

MAXIMUM WHOLESALE SELLING PRICE

____ PERU.S. GALLON

| MAXIMUM
| SUPPLIERS’ PRICE

5

INCLUDING

| DIESEL OIL

| MAXIMUM RETAIL
| SELLING PRICE
MAXIMUM | PER U.S. GALLON
DISTRIBUTORS
PRICE
§ |

BEA FREIGHT

The Public is actveed that prices as shown in the Schedule fer Diesel Ord aa sold by Sun OF] Lirdted and Lead
Sandard $A. Limiied

Pece andl Diese] OM) aa acl be Ena

Thensday, October 28%, 2910 respectively.

wall become effective on Wednesday, October £7¢th, 2010 and

BCHEDULE

FF
FREIGHT

[INCLUDING SEA

4.85
4.06

ra

INCLUDING ELA FREIGHT

4.04

4.78

HOT ([MNCLUDING EEA FREIGHT

HOT INCLUDING SEA FREIGHT

PERMANENT SECRETARY

Act 2000.



The dissolution of the said company
commenced on the 27th October, 2010 when

the Articles of Dissolution were submitted to
and registered by the Registrar General.

The Liquidator of the said company is Blue
Seas Administration Ltd., The Bahamas
Financial Centre, Shirley & Charlotte Streets,

Nassau, Bahamas

Dated this 29th day of October, A. D. 2010



Blue Seas Administration Ltd.
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
GLENSIDE DEVELOPMENTS LIMITED

In Voluntary Liquidation

Notice

is hereby given. that

in accordance

with Section 138 of the International Business
Companies Act No. 45 of 2000, GLENSIDE
DEVELOPMENTS LIMITED, has been dissolved
and struck off the Register according to the
Certificate of Dissolution issued by the Registrar
General on the 6th day of October, 2010.

Jeanice Lam
of 2202 Bonham Trade Centre,
50 Bonham Strand,
Hong Kong
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
GOLDEN CREST INTERNATIONAL LIMITED

In Voluntary Liquidation

Notice

is hereby given. that

in accordance

with Section 138 of the International Business
Companies Act No. 45 of 2000, GOLDEN CREST
INTERNATIONAL LIMITED, has been dissolved
and struck off the Register according to the
Certificate of Dissolution issued by the Registrar
General on the 6th day of October, 2010.

Jeanice Lam
of 2202 Bonham Trade Centre,
50 Bonham Strand,
Hong Kong
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
PARFINA INVESTORS GROUP INC.

In Voluntary Liquidation

“Notice is hereby given that in accordance with Section
137 (4) of the International Business Companies Act
(No. 45 of 2000). PARFINA INVESTORS GROUP INC.,

is in Dissolution.”

The date of commencement of dissolution is the 22nd

day of October, 2010.

Diligentia Ltd.
Trident Chambers
Road Town
Tortola
British Virgin Islands
Liquidator



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THE TRIBUNE



ANGELA DOLAND,
Associated Press
PARIS

Strikes caused hassles for air
travelers in France on Thurs-
day, but nationwide street
protests over a plan to raise the
retirement age to 62 failed to
draw the massive crowds of
weeks’ past — a sign of slack-
ening resolve among the bill's
opponents.

Parliament has already
approved raising the retirement
age from 60 to 62, but union
leaders insist they will not give
up their fight until conservative
President Nicolas Sarkozy actu-
ally signs the bill. Still, fewer
protesters followed them into
the streets this time, and strikes
by train and oil workers have
been tapering off in recent days.

In Paris, demonstrators
waved union flags and set off
flares, while in southern Mar-
seille, they beat drums and blew
whistles. Past demonstrations
have drawn more than a mil-
lion protesters into the streets:
This time, the Interior Ministry
put the figure at 560,000 nation-
wide. The hard-line CGT union
contested that number, putting
turnout at 2 million.

"It's true you could say the
anti-reform movement is slow-
ing down, but you need to ask
why,” Serba Germain, a 67-
year-old retired police officer
marching in Marseille, told
Associated Press Television
News. "People are disappoint-
ed, they are frustrated" because
the government hasn't listened.

Unions and opposition par-
ties urged Sarkozy not to sign
the law, which polls show is
unpopular. He is expected to
do so by mid-November, after it
is cleared by France's constitu-

= aes



(AP Photo/Claude Paris)

STILL PROTESTING: Aerial view of oil tankers and other vessels waiting
off the coasts of Marseille where oil terminals are blocked by striking work-

ers, Tuesday, Oct. 26, 2010.

tional watchdog. Socialist
leader Martine Aubry urged
Sarkozy to listen to the people.
"We will fight until the end,”
she said. But Sarkozy has
refused to back down, even
amid two weeks of strikes that
canceled trains, shut down oil
refineries and left drivers strug-
gling to find gasoline.

A small number of trains
were canceled Thursday, but
the problem was bigger for air-
lines. A third of flights at Paris’
Charles de Gaulle airport and

half of those at the city's small-
er Orly were canceled. Flights
were expected to run as nor-
mal Friday. Though the strikes
are tapering off, the fuel short-
ages they caused lingered
because of refinery strikes.
Some 85 percent of gas stations
are now open, the government
said Thursday night, but added
that the Paris region and central
France continued to face some
difficulties. Seven of the
nation's 12 refineries have vot-
ed to return to work.

FRIDAY, OCTOBER 29, 2010, PAGE 11B

French protests weaken

but still disrupt flights

A look at economic developments and activi-
ty in major stock markets around the world
Thursday:

LONDON — World stock markets mostly
rose as traders put aside uncertainty about the
size of the Federal Reserve's economy-boosting
bond purchase plan to sort through a raft of
earnings reports. Britain's FTSE 100 index was
up 1 percent at 5,699.84 and Germany's DAX
was up 0.9 percent at 6,626.35. France's CAC-40
was 1.1 percent higher at 3,857.79. Earlier in
Asia, Japan's benchmark Nikkei 225 stock index
closed down 0.2 percent to 9,366.03.

BRUSSELS — Germany and France sought
to convince skeptical EU partners to back new
rules on state spending, which they say are
needed to prevent another government debt
crisis in Europe.

German Chancellor Angela Merkel and
French President Nicolas Sarkozy arrived at a
two-day EU summit in Brussels seeking a per-
manent crisis resolution mechanism, which
would force private creditors to bear some of
the cost of bailing out a highly indebted country.

They also called for stripping EU voting rights
from repeat overspenders — a radical measure
that some say will not pass.

DUBLIN — The interest rate on Ireland's
national debt reached a new euro-era high as
investors sold off Irish bonds on skepticism that
the country can meet a European Union dead-
line for reversing its deficits.

The yield on Ireland's 10-year bonds rose
above 7 percent for the first time since the
euro's launch 11 years ago. That broke a previ-
ous high of 6.9 percent reached last month as
doubts swelled over Ireland's ability to tame
its deficit, which is forecast this year to reach 32
percent of GDP, a modern European record.

BERLIN — The number of Germans out of
work sank below 3 million in October for the
first time in two years, a sign of the country's
resilient labor market.

The unadjusted jobless rate sank to 7 per-
cent in October from 7.2 percent in Septem-
ber, with 2.945 million people out of work, the
Federal Labor Agency said. That was down
86,000 from September, a drop the agency cred-
ited both to a traditional seasonal improvement
and economic recovery.

ASSOCIATED PRESS

ATHENS, Greece — Contract workers at
Greece's Culture Ministry have staged another
protest at the ancient Acropolis, in an effort to
press the government to extend their short-
term work agreements.

PARIS — More nationwide street protests
and strikes caused travel woes even though par-
liament has already approved President Nicolas
Sarkozy's unpopular plan to raise the retire-
ment age.

LONDON — A major British mortgage
lender says that average house prices fell 0.7
percent in October, continuing a modest down-
turn since the start of the summer.

BEIJING — China's leaders are promising to
narrow its huge trade surplus and curb surging
emissions of climate-changing greenhouse gas-
es in an ambitious five-year plan to make its
economy cleaner and more high-tech.

The Communist Party plan also promises to
encourage consumer spending to reduce
reliance on exports to power growth. The plan
was approved last week by party leaders.

TOKYO — Japan's central bank cut its eco-
nomic growth forecasts and kept interest rates
near zero, as the export-reliant nation confronts
a strong yen and waning overseas demand.

In its October outlook report, the Bank of
Japan forecast the world's No. 3 economy to
grow 2.1 percent in the year through March
2011 and 1.8 percent the following year. Its July
assessment projected growth of 2.6 percent and
1.9 percent respectively.

BEING — China said it will not use exports
of rare earths, exotic minerals required by high-
tech industry, as a diplomatic "bargaining tool"
while Washington pressed Beijing to clarify its
policy following its de facto ban on supplies to
Japan.

SHANGHAI — China and the European
Union have agreed to pursue jointly financed
research focused on sharing and developing
technologies for cleaner, less polluting and safer
aircraft.



INSURANCE MANAGEMENT
(BAHAMAS) LIMITED

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INSURANCE MANAGEMENT

(BAHAMAS) LIMITED, INSURANCE BROKERS & AGENTS



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THE TRIBUNE



DRIVE: Blue Flames’ Enrique Forbes drives to the basket in front of the

Crushers’ Michael Brennen.



PAGE 12

or

FRIDAY, OCTOBER 29,

PAGES 13 & 14 ¢ International sports news



LAYUP: Our Lady’s Blue Flames player drives to the basket.



BALL HANDLER: Crushers’ Makarios Russell in action.

BASKETBALL
EDDIE RAHMING
TOURNEY

DAY three (Wednesday) of the
Deacon Eddie 'Marker' Rahming
Basketball Tournament was played
at Freedom Park in Fox Hill.

In the opener, a continuation of a
game that started Tuesday night, the
New Breed Warriors knocked off
the Galilee Academy Crusaders 33-
27. Patrick Brice finished with 14
and Dino Flowers had 12 in the win.
Bradshawn White had nine and
Jeremy Neely five in the loss.

The second game saw the Winton
Stars pound the Galilee Academy
Crusaders No.2 44-34. Dejan Smith
scored 18 and Charles Walker had
14 in the win. Demetrius Forbes
scored 12 and Savant Laing added 11
in the loss.

In the feature contest, host St
Paul's Baptist held off New Dimen-
sion 29-26. McClain Higgs scored
nine and Tunde Davis chipped in
with seven in the win. Donovan
Rolle had eight and Gregory Lock-
hart six in the loss.

t

2010










National
Football
League Picks:

Week &...
See page 14

Payback time!

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

t was payback time

for Our Lady’s Blue

Flames yesterday as

they avenged their

sweep by the St
Bede’s Crushers in the
Catholic Diocesan Primary
Schools basketball champi-
onships.

In a game that was delayed
Wednesday because of rain,
the Blue Flames routed the
Crushers 23-9 to hand the
defending champions St
Bede’s their first loss in two
games.

It was Our Lady’s third win
in four games, but coach
Rohan Parks is already look-
ing past the regular season
and has his team eying the
championship title this year.

“We had a rivalry going
from last year. They beat us
by one point in the first game
of the final before they won
the title in the second game,”
Parks painfully remembered.

“We have a fairly young
team this year, but it’s very
balanced. We just have to stay
mentally tough and once we
can establish our game
around our star player, any-
thing but the championship
would be a failure.”

With so many of the top
players graduated from the
league, Deangelo Mackey,
who quietly assumes the role
as the leading player this year,
ignited the Blue Flames with
a game-high 15 points.

Although he single-hand-
edly did the damage against
St Bede’s on their home turf,
Lucentre Paul chipped in with
two points.

The Crushers, who haven’t
played since they won the sea-
son opener against the St
Thomas More Sparks on
October 18, got five from
Makarios Russell to lead a
balanced scoring attack.

“We practiced almost every
day, but what we practiced,
the guys didn’t come out here
and executed,” said coach
Ricardo Freemantle, who
works along with Donnie Cul-
mer.

“T think if we had passed
the ball a little more, rather
than hogging it, we would
have played a lot better than
we did. But we had some guys
who played well and some
who didn’t.”

Despite not having played a
game in over a week, Free-
mantle said it shouldn’t be
any excuse because “we prac-
ticed.”

“We just didn’t execute
what we did in practice,” he
added.

Last year with the go-to-
man in Kyle ‘Flash’ Turn-
quest, the Crushers always
found a way to rally from a
deficit.

This year, they don’t have

Blue Flames avenge sweep
with rout of Crushers

that leader who can take over
a game.

That was what Deangelo
Mackey did for Our Lady’s.

The Blue Flames opened a
3-0 lead and they were able
to hold on for a 6-3 advan-
tage as Mackey paced the way
with four points, including 2-
of-4 free throws.

It turned out to be a defen-
sive battle in the second quar-
ter as both teams held the
other scoreless, despite the
fact that they both had
numerous opportunities to
score.

But to start the third, it was
Deangelo Mackey, who once
again came up big. He opened
up with a lay-up and Our
Lady’s went on a another 6-3
spurt to post a 12-6 margin at
the half, thanks to two con-
secutive jumpers from Paul.

Just like he did in the third,
Mackey opened the fourth on
a jumper and Enrique Forbes
added another to extend their
lead to 16-6.

= goer
wis enalen



Photos by Felipé Major/Tribune staff



BLOCK: Crushers’ Stevejay Whylly gets a block.

St Bede’s got on the score-
board in the quarter on
Michael Brennen’s jumper for
a 16-8 deficit. But that was
the closest they came the rest
of the way.

Mackey was unstoppable
down the stretch as he did just
about everything it took to
win - rebound, pass and score
- as Our Lady’s celebrated at
St Bede’s.





PORTS
Witty



TRACK
REV SMITH
MEET

THE Baptist Sports Council is
scheduled to hold its 2010 Rev Eller-
ston Smith Track and Field Classic
on Saturday at the Thomas A
Robinson Track and Field Stadium.
The meet is expected to have an offi-
cial opening ceremony at 9:30am and
the first event is slated to begin at
10am.

The meet has been sanctioned by
the Bahamas Association of Athlet-
ic Associations (BAAA) and the
Bahamas Association of Certified
Officials will officiate.

Competitors from at least 10 dif-
ferent churches and the two Baptist
schools - Jordan Prince Williams and
Charles W Saunders - are expected
to participate in the under-7, under-
9, under-11, under-13, under-15,
under-17 and open male and female
divisions.

There is also expected to be a race
for the pastors and ministers.

VOLLEYBALL
NPVA RESULTS

ON Wednesday night at the D W
Davis Gymnasium, the Scottsdale
Vixens took to the court and defeat-
ed the Lady Techs in three straight
sets 25-23, 25-20 and 25-18. Anishka
Rolle led the Vixens with seven
points in the win. In a losing effort,
Rochell Henfield scored six for the
Techs.

In men’s action, Tony Simon’s
game-high 18 points led the Scotia
Defenders over the Saints in four
sets 25-20, 25-18, 27-29 and 25-16.
Chauncey Cooper finished with a
side high 15 points for the Saints.
The league is scheduled to continue

tonight with another double header
set for 7pm.

NEWS
NEW RADIO
STATION OPENING

AFTER much anticipation, the
Grand Opening Tailgate Party of
Sports Radio 103 will be held at
noon until on Saturday at the Dew-
gard Plaza, Palmdale.

The station will feature such per-
sonalities as Marcellus Hall, Denaz
Jones, Jean ‘Bubbles’ Minus and
Ivan ‘Showtime’ Francis as they
broadcast sports on a 24- hour basis.

SOFTBALL
EXUMA SOFTBALL
ACTION

THE Exuma Church League is
expected to continue its softball
action Saturday with the following
games on tap:

6pm — Church of God Ferry vs
Soul Winners

7pm —Mt Carmel vs St Margaret's
Stuart Manor

8pm — St Peter’s vs Church of God
of Prophecy

9pm — Gilead Full Gospel vs
Palestine Baptist

CAFL FOOTBALL

THIS weekend’s Commonwealth
American Football League sched-
ule is expected to feature a matchup
of undefeated teams with the V8
Fusion Stingrays taking on the Jets,
while the Orry J Sands Pros are all
set to face the Sunburners.

BOWLING

CONSIDERED a fringe sport,
bowling looks to raise its profile in
the capital now that the proper facil-
ities exist. Mario’s Bowling and
Entertainment Palace seeks to part-
ner with schools throughout the
country.

So far, Garvin Tynes Primary has
been the lone school to take advan-
tage of the programme and has
brought dozens of young new play-
ers to the game who previously did
not have the opportunity.

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Full Text


Mm blowin’ it

HIGH
LOW

S6F
73F

SUNNY,

*\ STORM

Volume: 106 No.283










TM ie
SLI ER YC
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SEE BUSINESS FRONT PAGE



m Lhe Tribune

BAHAMAS EDITION

www.tribune242.com

FRIDAY, OCTOBER 29, 2010

cancer charity

Organisers issue alert

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

THE Cancer Society of the
Bahamas issued an urgent warn-
ing to all potential donors last
night after it was discovered that
unauthorised persons might be
representing the organization,
and fraudulently collecting mon-
ey.

This type of fraud was said to
be a “serious problem” for the
not-for-profit organization
because the society relies heavi-
ly on donations to support its
numerous initiatives. The warn-
ing sought to inform the public
on how to properly identify an
approved representative after a
woman was caught over the
weekend soliciting funds outside
a local supermarket.

Sources close to the matter

REPORTS: MAN DIES
IN TRIPLE SHOOTING

REPORTS reached The Tri-
bune late last night of a triple
shooting which resulted in the
death of one man.

The incident happened on
Eden Street off Farrington
Road in the Chippingham area.

There were no further details
up until presstime. See tomor-
row’s Tribune for more infor-
mation on this story.




















admitted there is no way of con-
firming exactly how long the
woman had been accepting mon-
ey on behalf of the organization
without authorization. The
woman was discovered on Sat-
urday when the wife of an affili-
ate of the organization donated
money.

Using the pink ribbon that
represents breast cancer, the
woman allegedly told shoppers
and passersby that she was col-
lecting funds on behalf of the
cancer society. After discussing
her donation with her husband,
it was revealed that the solicitor
had not received permission
from the cancer society.

Tammy Sands, administrator,
said: “We are non-profit and we
rely on the general public to
donate to us, so when you have
people out there soliciting funds
on our behalf and we’re not
actually benefitting from that —
it’s a serious problem, whether
your intentions are good or
bad.”

The woman reportedly
returned funds to the society on
Monday, and the matter is being
resolved internally. However,
the organization decided not to
reveal the amount that had been
returned, as it hoped not to dis-
courage future donors.

In a press statement yester-
day, President Earle Bethell

SEE page 15

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ABOVE: Downtown Nassau was full of activity last night as
Breitling launched their new watch collection and made a
landmark presentation on the history of Bahamian aviation.

LEFT: Jerome Gray, a level II Breitling watchmaker, keeps a
steady hand as he works on a watch at the Breitling store.



Call for ban on development in national parks

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

AN EXUMA activist has crit-
icised the Bahamas National
Trust for not opposing dredg-
ing and excavation at Bell Island
in the Exuma Cays Land and
Sea Park as he calls for devel-

opment in all national parks to
be banned.

Terry Bain, spokesman for
Save The Exuma Park (STEP)
committee, is outraged at the
granting of permission to dredge
and excavate more than 13 acres
of land and seabed around Bell
Island in the Exuma park and
the apparent compliance of the




UC eR LCL

PURER me

Mee MU eau st



Bahamas National Trust (BNT).

Mr Bain spoke out on behalf
of STEP’s 180 members at a
public meeting called by the
BNT in Great Exuma last
Thursday to discuss the Bell
Island development with mem-

SEE page eight

Me



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SS:

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WHITNEY BASTIAN
SET TO RUN AS
INDEPENDENT

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

FORMER MP for South
Andros, Whitney Bastian,
confirmed with The Tribune
last night that he intends to
run as an Independent in the
next general election and
regain his seat in the House
of Assembly.

Lambasting the area’s cur-
rent MP Picewell Forbes, Mr
Bastian claimed that Mr
Forbes is “not representing”
the people in the area.

Mr Bastian says Mr Forbes
is losing significant support
in the Mangrove Cay area,
and if the South Andros seat
is cut the way he thinks it will
be, he will win the seat
“hands down.”

“When you look at it,
everytime a PLP MP gets up
to speak, Picewell is sitting
behind them. He is the only
floating MP in the House,”
said Mr Bastian.

Claiming to have more
support in the area now than
he even had when he was
elected to Parliament in 2002,
Mr Bastian added that Mr
Forbes cannot continue to
cry “poor mouth” when it
comes to being able to at
least visit his people.

SEE page eight

INVESTIGATIONS
INTO TWO POLICE
SHOOTINGS

INVESTIGATIONS con-
tinue into two separate shoot-
ing incidents involving police
on Wednesday.

In one incident, a man was
shot by police in the Montagu
foreshore area.

Police were reportedly con-
ducting a routine road block
on East Bay Street near the
Nassau Yacht Club at about
10am when they opened fire
on an occupant of a grey
coloured Nissan Sunny who
was reportedly armed with a
handgun.

Witnesses said the man had
got out of the car and drawn a
9mm pistol.

According to police reports,
the man had pointed the gun
in the direction of police, who
opened fire in response.

The man was wounded and
taken to hospital. According
to police press liaison officer
Sgt Chrislyn Skippings, he is in
stable condition.

A second man, who was
shot by police on Wednesday,
is also listed in stable condi-
tion, according to Sgt Skip-
pings.

He had reportedly been
arrested with two others for
allegedly having an unlicensed
firearm and stolen goods.

The man was reportedly
shot in the buttocks and leg
as he fled from the East Street
South Police Station while
being escorted to a waiting car
to be taken to Central Detec-
tive Unit headquarters.



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THE TRIBUNE

LOCAL NEWS

Fair held for

National Career
VET ATS CITT UL









ENCOURAGEMENT: Minster Desmond Bannister poses with a

young participant at the fair.

EAGER public and private
school students filed into the
Kendal Isaacs Gymnasium
this week for the third annual
National Career Awareness
Month fair.

The event is a collaboration
between the Ministry of Edu-
cation, corporate sponsors
and civic organisations.

This year, the focus is on
the technical and vocational
trades, as well as entrepre-
neurship.

The organising committee
said they wanted to help

Wi wl
EXTERMINATORS

FOR PEST PROBLEMS
ail ear a Td



AN\

AUTO MALL

young people identify the
country’s “evolving employ-
ment needs” and encourage
them to compete on the glob-
al stage.

Education Minister
Desmond Bannister, who
viewed the exhibition, said he
is working to alleviate some of
the challenges facing gradu-
ating students hoping to enter
the work force.

He told the students to pay
careful attention to the infor-
mation provided at the fair.

The minister said the coun-
try needs young people who
are creative and capable of
responding to today’s serious
challenges.

He said: “Utilise your wings
and brain power to make
choices that will make a dif-
ference in the Bahamas.”








PAGE 4, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



EDITORIAL/LETTERS TO THE EDITOR



The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

UK spy chief defends secrecy in Ist speech

LONDON (AP) — Britain's spy agency
chief stepped out of the shadows with an
unprecedented public address, defending the
need for secrecy to counter growing terror
threats such as Iran's nuclear proliferation.

MI6 chief John Sawers said Thursday even
though Cold War-era secrecy has been lifted
and intelligence agencies were working to
become more accessible, keeping intelligence
material secret was vital to protect people
against terror attacks.

"Secrecy is not a dirty word. Secrecy is
not there as a cover-up," Sawers told a select
group of journalists in London. "Without
secrecy there would be no intelligence ser-
vices, or indeed other national assets like our
special forces. Our nation would be more
exposed as a result.”

The question of secrecy has dominated
world news in the last week, after the whistle-
blowing group WikiLeaks published nearly
400,000 U.S. intelligence logs detailing daily
carnage in Iraq since the 2003 U.S.-led inva-
sion. In July, the same group published 77,000
secret U.S. documents on the war in
Afghanistan. Some of the leaked documents
show that coalition forces handed over terror
suspects to Iraqi security services even after
abuse was suspected, or continued with inter-
rogations despite visible injuries to suspects.
There has been no clear mention of MI6
involvement in the logs, however.

Sawers' speech also comes as two govern-
ment inquiries probe whether MI6 and other
agencies were complicit in the abuse of terror
suspects — allegations that Sawers denied
Thursday, adding that MI6 agents are oblig-
ated by law to stop and avoid torture.

"And we do —even though that allows
terrorist activity to go ahead," he said, adding
that although his agency hasn't been specifi-
cally accused of torture it has been accused of
"being too close to it.”

Sawers — also known by the codename
"C" as all MI6 directors have been known
since the first chief Mansfield Cumming —
said progress had been made in Afghanistan
and Pakistan, but new terror threats were
growing in Yemen, Somalia and North Africa.
The new threats come amid severe budget
cuts ahead. "We get inside terrorist organi-
zations to see where the next threats are com-
ing from," he said. "What we do is not seen."

He said while a "typical" terror attack
would not bring down Britain, the dangers
of nuclear proliferation — as well as chemical
and biological weapons — had the potential to
alter the political balance of power in the
region.

"The revelations around Iran's secret
enrichment site at Qom were an intelligence
success," he said. "They led to diplomatic
pressure on Iran intensifying, with tougher
UN. and EU sanctions which are beginning to
bite. The Iranian regime must think hard
about where its best interests lie.”

But using intelligence poses anguished
choices for agents — especially when faced

with the possibility that intelligence could be
tainted by abuse or torture.

"Suppose we received credible intelligence
that might save lives, here or abroad. We
have a professional and moral duty to act on
it,” he said. "We also have a duty to do what
we can to ensure that a partner service will
respect human rights. That is not always
straightforward. If we hold back, and don't
pass that intelligence, out of concern that a
suspect terrorist may be badly treated, inno-
cent lives may be lost that we could have
saved," he said. "Sometimes there is no clear
way forward."

In a court case that drove a wedge between
USS. and British intelligence, British High
Court judges last year ordered the govern-
ment to release secret US. intelligence
exchanges on the treatment of former Guan-
tanamo Bay detainee Binyam Mohamed, who
claimed British authorities knew he was beat-
en and had his genitals sliced with a scalpel
while being interrogated in Morocco.

Sawers said the release of such information
risked intelligence sharing and undermined
the "Control Principle,” a rule in the intelli-
gence community that says the agency that
gets the information first has the power to
decide how the information is used.

"So if the control principle is not respect-
ed, the intelligence sharing dries up,” he said.

The U.S. and Britain have often taken dif-
ferent approaches to terror threats, most
recently seen during a European terror plot
that was unveiled last month and is still con-
sidered active. While the United States issued
a travel advisory warning citizens to be aware
of potential threats in Europe, British offi-
cials downplayed the specifics of the plot.

There was also a striking difference during
the trans-Atlantic bombing plot in 2006, where
militants tried to down several airliners with
explosives contained in soft drink bottles.
Prosecutors said American officials wanted to
crack the plot and round up the suspects
quickly whereas British officials wanted to
wait and gather more information.

MI6, known as the cloak-and-dagger
employer of the fictional James Bond, has
tried to become less secretive. It has started
posting recruitment ads in Britain's media,
hired press officers, and last month released its
first-ever official history. The CIA took a sim-
ilar path years ago.

Sawers has already revealed more than
any previous MI6 chief. Shortly after his
appointment was announced last year, a news-
paper ran some of the spy's holiday snap-
shots, taken from his wife's Facebook page.

The images showed Sawers posing with
his children, wearing a Santa hat and playing
Frisbee on a beach. The Facebook pictures
and other personal details were removed after
the newspaper told the government about
them. Some politicians called the details a
security lapse.

(This article was written by Paisley Dodds,
Associated Press writer).



EDITOR, The Tribune.

On September 23, 2010,
Delaporte Point owners
signed a document demand-
ing that ALL Delaporte
Point Limited (DPL) Direc-
tors vacate office.

A defiant Board notified
owners that they would not
vacate office as requested
by a majority of owners.

Following is a notice sent
to owners from the incom-
ing Board:

In accordance with Arti-
cle 46 (d) of DPL's Articles
of Association, the Board of
Directors of DPL, compris-
ing Shonel Ferguson (Chair-
man), Gloria Factor (Secre-
tary), Graham Garner
(Treasurer), Joe Stanley
(Director), Templeton
Hutchinson (Director) and
Sue Kimball (Director) have
been ordered to vacate their
offices effective September
23, 2010.

The Directors have been
served through the regis-
tered office of The Compa-

EDITOR, The Tribune.

Socialist Party.
the corner.

preparations.

General Elections.

party, the FNM, who will?

ities.

is a big mistake.

LETTERS

letters@triounemedia.net



ny with this request in writ-
ing by members of the Com-
pany holding and represent-
ing over one-half in value of
the subscribed and issued
shares of the Company. The
outgoing Board and its
Directors have been
instructed to immediately
cease to act as representa-
tives of the Company, not
to enter into any agreements
or contracts on behalf of the
Company and to return all
assets in their possession to
the registered office of The
Company.

Owners have been trying
to get rid of the DPL Board
since April 2010 when the
Board, apparently fearing
they would be ousted,
adjourned an Annual Gen-
eral Meeting before the
required election of new
Directors could be held.

Delaporte Point
Directors asked
to vacate office

Owners are also angry at
the former DPL Directors
regarding a certain financial
matter for which they can-
not get answers, a $124,000
lawsuit against the DPL
Board by apartment own-
ers, the Board’s refusal to
release financial statements,
hold the required annual
election of new Directors,
their refusal to step down as
prescribed by company law
and other allegations.

The Board’s attitude
towards the community has
many owners wondering if
there might possibly be
something to hide?

So, what should owners
do to force the former
Board to vacate office so
that a new Board can shed
some light on the issues that
are troubling owners about
their investment?

DELAPORTE
RESIDENTS
Nassau,

October 27, 2010.

Dr. Duane Sands will
become the next Prime
Minister of Bahamas

My name is David Thompson, a former
member of The Vanguard Nationalist and

The next General Election is just around
All political parties are busy making

Mr. Christie, leader of the PLP, has indi-
cated that he will lead his party in the 2012

If Mr. Ingraham decides not to lead his

Tommy was rejected in 2002 by the voters,
Dion, and Carl do not have leadership qual-

Branville is undisciplined...and is trying
to build himself up as a leader, which to me

Leaders are not built, they are born, which
brings me to the point of this letter.

For the past several weeks, I’ve been talk-
ing to people from different walks of life,
and the majority along with myself have
come to the conclusion that only one person
in the FNM party has the ability to lead, if
Mr. Ingraham decides not to.

The person is Dr. Duane Sands. He was
robbed in the by-elections in Elizabeth, by

Mr. Ryan Pinder, who is only warming up
that seat for Dr. Duane Sands until next
elections.

Word is that those undecided voters who
did not vote in the by-elections, have now
made up their minds.

As a result of Dr. Sands’ continuous work
in the constituency, the majority will now
vote for the FNM.

I'm going to make a prediction based on
my experience and the sip-sip that is going
around. Dr. Duane Sands will become the
next Prime Minister of The Bahamas.

COMRADE DAVID THOMPSON,
Nassau,
October 19, 2010.

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THE TRIBUNE

FRIDAY, OCTOBER 29, 2010, PAGE 5



Sewage container erupts in flames

FIRE services had to be
called to Paradise Island yes-
terday when a sewage con-
tainer burst into flames.

The blaze caused a huge
black smoke cloud that could
be seen billowing from the
island around noon.

Fire services were called

to the scene and found the
aluminum container, which
was housed in a utilities stor-
age area on the opposite side
of the island from the
Atlantis resort, engulfed in
flames.

According to the informa-
tion given to responding offi-

cers, the container was being
demolished when it caught
fire.

Fire fighters were able to
extinguish the blaze within a
short period of time.

There was no damage to
Atlantis or any other prop-
erty on the island.



IRE
truck refills at a
fire hydrant
extinguishing an fe

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erage container
on Paradise
Island.

RBPF hosts
annual Safe
Halloween

THE Royal Bahamas
Police Force is promising
“games, prizes and sur-
prises” at the annual Safe
Halloween event tonight.

There will be face
painting, costume con-
tests, goodie bags, eats
and treats, a haunted
house, games, prizes,
karaoke and fire engine
tides.

The event, to be held
at the Police Training
College on Thompson
Boulevard beginning at
6pm, is a crime preven-
tion initiative that aims
to provide a safe envi-
ronment for parents and
children to enjoy Hal-
loween.

All members are invit-
ed and the entrance fee
is only $1.

Special
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on select models



ZNS accused of re-hiring
terminated employees

AFTER terminating more
than 80 staff members, man-
agement at the Broadcasting
Corporation of the Bahamas
has been accused of re-hiring
some of the employees they let
go not more than two weeks
ago.

A number of staff members
who accepted the government’s
voluntary package told The Tri-
bune yesterday that it appears
as if more persons were let go
by the corporation than was
wise.

One former staff member
told The Tribune that persons
have been re-hired to work on
the radio and news production
teams, and that a number of
other persons are still in talks
with management at this time.

The source alleged that sev-
eral changes can be expected
at the BCB in the coming
weeks.

For one thing, ZNS TV news
anchor Jerome Sawyer will
reportedly no longer be pre-



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senting the nightly news at 7pm.

Mr Sawyer, the source said, is
being asked to host a one hour
“daily news show” which will
air between 9pm and 10pm.

Messages left for BCB gen-
eral manager Edwin Light-
bourne seeking comment were
not returned before press time
last night.

When word first leaked out
about the intended cuts at the
BCB, it sparked outrage among
the staff and led to a series of
protests. At one point, staff
members even marched to the
Churchill Building on Bay
Street to demand answers from.
Minister of National Security
Tommy Turnquest, who has
responsibility for the Broad-
casting Corporation.

The opposition PLP criticised
the downsizing, however Prime
Minister Hubert Ingraham said
the governement acted hon-
ourably, paying the laid-off staff
more money than they were
entitled to.

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PAGE 6, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



BEC is an albatross around
necks of Bahamian taxpayers
YOUNG MAN’s VIEW

By ADRIAN GIBSON
ajbahama@hotmail.com

WITH the government set
to provide yet another multi-
million dollar bailout to it, it’s
clear that the Bahamas Elec-
tricity Corporation (BEC) is
proving to be a financial alba-
tross around the necks of
Bahamian taxpayers. It has
evolved into a haemorrhaging
utility company that has
become grossly indebted and
appears to be severely mis-
managed.

As it stands, Bahamians
continue to shell out more and
more monies on bloated elec-
trical bills, while enduring sub-
standard service. Further,
even with its monopolistic sta-
tus on most islands, it has
become yet another failed
government experiment.

Frankly, BEC is a corpo-
ration whose wastefulness was
shown when it collected 800
gallons of spilled oil from
grounds around Clifton Pier
station a few years ago. It is
hardly fuel-efficient and envi-
ronmentally-friendly, contin-
uously leaving a large carbon
footprint and, in addition to
facing financial woes, persis-
tently incurring maintenance
issues.

The privatization of
BEC—like BTC—would
undoubtedly lead to
enhanced, cost-effective ser-
vices.

In the July 24, 2008 edi-
tion of The Tribune, Prime
Minister Hubert Ingraham
expressed the notion that he

ADRIAN

expected the process to priva-
tize BEC to be easier than
that involving BTC. Accord-
ing to the Prime Minister, the
state can no longer “continue
to provide the kind of genera-
tion capacity that is required
for the operations of BEC.”
He asserted that the multi-
million dollar subsidies hand-
ed out by government on an
annual basis to government-
run entities are, going forward,
unaffordable on a continuing
basis.

The Bahamas can increase
its energy security by explor-
ing its alternative energy
options, especially with
greater awareness as to the
limitations of fossil fuels. It is
high-time that Bahamian pol-
icy-makers strategically plan
for the long term and examine
the new sources of energy that
can be applicable to this coun-
try.

Politicians releasing press
statements and talking about
alternative energy is mere hot
air, and environmentally-con-
scious Bahamians are won-
dering when the talk of bio-
fuels and green energy will
evolve into more than pie-in-
the-sky pipe dreams. When
will citizens be granted per-
mission to use solar panels
and/or to explore alternative

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energy sources?

When will a windmill be
installed at Clifton Pier?
When will a water-to-energy
facility be demonstrated at
New Providence? When will
wave technology be
deployed?

When will the 27 BEC
power plants be revamped to
facilitate the incorporation of
alternative energy? Moving
forward, what will be the fuel
hedging strategies being uti-
lized by BEC?

With oil prices fluctuating,
the value of the dollar plum-
meting, high food costs and
an economic downturn, the
government must swiftly
develop an energy policy and
offer incentives and support
in proposing and driving
renewable energy legislation.
In recent times, because of
high freight rates and the
demand for corn, wheat and
sugar cane for ethanol prod-
ucts, food prices have also
risen.

According to Wikipedia,
an online encyclopaedia:
“Renewable energy effective-
ly uses natural resources such
as sunlight, wind, rain, tides
and geothermal heat, which
are naturally replenished.
Renewable energy technolo-
gies range from solar power,

wind power, hydroelectrici-
ty/micro hydro, biomass and
biofuels for transportation.”

Due to the absence of gey-
sers or large agricultural enter-
prises, geothermal power or
even the production of
ethanol fuel would not be fea-
sible in the Bahamas. Accord-
ing to the online encyclopae-
dia, Brazil has the world’s
largest renewable energy pro-
gramme, deriving ethanol
from sugar cane which pro-
vides 18 per cent of that
nation’s automotive fuel.
Because of an abundance of
sunshine, wind and water, we
can explore renewable energy
technologies such as solar
power, wind power and wave
energy.

A few years ago Jerome
Elliott, then president of the
Bahamas Society of Engineers
and head of the government’s
Renewable Energy Commit-
tee said:

“Tt’s important for us to
consider renewable energy
options as, because most of us
are aware, hydro carbon or oil
based energy is finite. It’s not
going to last forever.”

Mr Elliott also noted that
the Bahamas will inevitably
have to switch to alternative
energy, with the most practi-
cable being wind, wave and
solar energy.

Locally, there are offshore
sites with strong, continuous
winds that would be fitting
locations for wind turbines to
be set-up. Additionally, the
strong currents flowing
throughout the archipelago

are ideal for power derived
from waves/tides.

Our sub-tropical climate,
with the sun as an
omnipresent feature, is a suit-
able locale for solar power sys-
tems which we are currently
failing to capitalize on.
Presently, Japan is the world’s
leader in the solar energy
industry, with Kenya holding
the record for the “world’s
highest solar ownership rate
with roughly 30,000 small (20-
100 watt) solar power systems
sold per year (Wikipedia).”

In Eleuthera, the Island
School’s innovative approach
has resulted in that institution
being able to convert used
cooking oil—donated by
cruise ships—to fuel and
thereby produce their own
electricity. There are some
Family Islanders who have
been experimenting with solar
power for several years.

Moreover, while some may
object, consideration should
be given to the feasibility of
installing a mini-nuclear reac-
tor to provide cheap energy.
Of late, the “septic tank-sized”
nuclear reactor has been
hailed internationally as a nov-
el means of generating power
in an age where countries are
becoming increasingly con-
cerned about moving away
from dependence on oil.
According to its developers,
the septic tank-sized power
module will likely be buried
in the ground and run by
operators from the local utili-
ty company. It has been said
that this form of alternative

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energy is around five to 10
times cheaper to produce than
solar or wind power.

Furthermore, waste-to-
energy initiatives are consid-
ered as one of the country’s
greatest opportunities for har-
nessing renewable energy.
The waste-to-energy method
purportedly creates energy in
the form of heat or electricity
from a waste source.
Undoubtedly, the production
of energy from waste would
also reduce the amount of
waste treated in the Harrold
Pond area.

What happened to the
drafts for a national energy
policy that was submitted by
National Energy Policy Com-
mittee and was purportedly
being reviewed by the gov-
ernment? What happened to
the finalization of an agree-
ment with a renewable energy
provider that State Minister
of the Environment Phenton
Neymour promised would be
completed by the end of 2009?

With China and India’s
increasing industrialization, oil
shortages will continue and
the price will further increase
with the greater demand. As a
nation, we must begin explor-
ing the use of cheaper,
biodiesel fuels!

With the record-setting
prices at the country’s pumps
and skyrocketing energy costs,
in the interim the government
should consider reducing the
hefty fuel tax, which would
immediately lower the costs
to consumers. A consumer
education programme must
be undertaken to teach
Bahamians how to conserve
energy and lessen the hit to
their pocketbooks, especially
as salaries have remained stag-
nant amidst a recession and
mounting living costs.





CHARLES MAYNARD:
GOOD SPORT!

This week, the ZNS news-
cast yielded a humorous,
seemingly heartfelt clip of
Minister of Culture Charles
Maynard dressed in the
colourful, psychedelic garb
usually worn by businessman
Frank Hanna during his
endorsement and promotion
of the Frank Hanna October
Fest in North Andros—tak-
ing place this weekend. Mr
Hanna is known for his par-
ticipation and sponsorship of
cultural events, particularly
those in Andros.

Moreover, Mr Maynard has
shown that he’s a good sport
with his consistent participa-
tion in the pastors versus
politicians’ basketball game at
the Nelson Cooper Basketball
Tournament, which is held to
discourage gang violence and
raise funds to assist troubled
youths.

Frankly, for those light-
hearted—even self-depreciat-
ing gestures—in pursuit of the
greater good, Mr Maynard is
to be commended.
PAGE 8, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



LOCAL NEWS

BAHAMAS ELECTRICITY CORPORATION
VACANCY NOTICE

LEGAL OFFICER
ADMINISTRATION DIVISION

Avecancy exists in the Corporation fora Legal Officer in the Administration Division,

The Legal Officer assists with legal services and the drafting of legal documents. This would
include, but is not limited to, industrial agreements, and development of standard contract
formes ete. In addition, the job assists management with effectively handling of industrial rela-
tions processes, conducting research, preparing reports and appearing before the Tribunal or
Courts within the Commonwealth of the Bahamas,

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

Prepares and gives opinion on all legal documents relative to the Corporation:

Assists with the negotiation process, in the drafting of clauses for the development of the
Industrial Agreenvent;

Assists in the industrial relations process by providing legal opinions on industrial relations
matters;

Assists in the development and drafting of standard and relevant contractual forms in
relations to the tendering process;

Performs notary duties and functions:

Establishes and oversees the legal process involving debt collection procedures;

Assists all levels of management on industrial matters;

Monitors and liaises with Counsel on fees and retainers affecting the Corporation;

Assists with the internal legal and administrative functions of the Corporation;

Prepares and submits regular reports as required.

Job requirements include:

A rminimum of a Bachelors degree in Law

Be farniliar with the laws and regulations affecting the Electricity Act and the industry
S years practical experience at the Bahamas Bar and a minimum of 3-5 of those in legal
Exqperence at a supervisory managenbenit lew

Strong analytical skills

Gead judgment and sound reasoning ability

Excellent communication skills

High proficiency in legal writing

An enthusiastic team player

Stromg organizational skills

Geoad tine management skills

Sound knowledge of Conporation’s policies and procedures

Sound knowledge of incustriallabour relations

Interested persons should apaly by completing and returning an Application Form ta: The
Assistant Manager-Human Resources, Bahamas Electricity Corporation, Blue Hil! & Tucker,
Po. Bow N-7509 Nassau Bahamas anor before: Thursday, Movember 11, 2010.



FROM page one

bers of the community.

He said it was not made clear
at the meeting that the Depart-
ment of Physical Planning had
already granted permission to
excavate 4.32 acres of upland
area for a yacht basin, 2.56 acres
of seabed for an outer channel,
4.28 acres of marine area for a
barge landing and a further 1.9
acres of seabed for the outer area
of the barge landing on Septem-
ber 21.

Local tour boat operators
spoke out at the meeting claiming
dredging is already being done
at Bell Island; claims flatly denied
at the meeting by BNT execu-
tive director Eric Carey.

Conditions of the permit state
an Environmental Management
Plan (EMP) and Environmental
Impact Assessment (EIA) must
be approved by the Bahamas
Environment, Science and Tech-
nology (BEST) Commission
before work can begin, and the
EMP is expected by Mr Carey
this week.

Plans were submitted by
Islands of Discovery Ltd after
Islamic spiritual leader and bil-
lionaire Prince Karim Aga Khan
IV bought the island last year.

Details of the development
emerged as Environment Minis-
ter Earl Deveaux confirmed he
had accepted the offer of free
transportation in the Aga Khan’s
helicopter to travel to Abaco with
his wife and two friends to attend
a public event before going on
to Bell Island to conduct a land
assessment the next day. In
answer to his critics, Minister
Deveaux said that in no way did
this courtesy by the Aga Khan
to make it possible for him to
attend the two meetings — one in

Call for ban

Abaco, the other in Bell Island —
influence his decision on the Bell i

Island application.

It was also alleged by Tribune
sources that the Aga Khan }
donated $1 million to the BNT

after he purchased the island.

Mr Carey has issued no com- }
ment on the donation claim, how- }
ever a BNT statement on the }
development maintains: “Every }
landowner in the park has con- :
tributed generously to the fund- }

ing of the BNT.”

Mr Bain said: “The Trust has
gone along with every develop- i
ment in the Exuma Cays Land }
and Sea Park, and I have been }
trying to save the Trust from
themselves by trying to keep :

development out of the parks.”

STEP has been lobbying for i
an amendment in the BNT Act : a
to prevent development in the } Suspected illegal
Exuma park and all national ; . .
| immigrants are
the group was founded 17 years i
| apprehended

But recent amendments }
passed in Parliament do not }
include such changes, and STEP
now continues to fight a battle i
Mr Bain says the BNT should }

parks across the Bahamas since

ago.

fight for itself.

The activist of Farmer’s Cay, i
Exuma, further stated how locals i
and fishermen find development }
in the 176 square mile park hard }
to accept as they are prohibited ;
from taking anything within its }

boundaries.

In an editorial column pub- ;
lished in The Exuma Breeze this }
month, Mr Bain called on all }
Bahamians to speak out against }
development in the Exuma park }

and all national parks.

BASTIAN SET TO RUN AS INDEPENDENT

FROM page one

“T would have thought that since he doesn’t have a headquarters ;
that if the government is paying him $18,000 a year (to manage it), he }
should have some money somewhere because he never created an }
office. So if you look at his MP’s salary of $28,000 and then he getsa
travel allowance to visit his constituency — they even give hima per }
diem. So he can’t find no excuse.” i

And when it comes to campaigning for the next general election, }
Mr Bastian said he will in no way be spending the amounts of mon-

ey that he has spent in the past on the last two general elections.

“T don’t have intentions of spending the money I spent before. If
the people want me they will vote for me. If they vote for me, I will
serve to the best of my ability. In terms of spending what I spent in the }

last two elections you don’t have to worry about that ever again.

“We have to break that habit in South Andros. Because people who
do things like that feel like they don’t owe the people anything. But :
people on the Family Islands only need assistance. They only want
you to point them in the right direction to get things done. They don’t }
need you to put ya hand in your pocket. But the only way to under- }

stand the needs of the people is to sit down an’ talk with them.”

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FEATURES & AMENITIES INCLUDE:

Two expected in
court over shooting

FREEPORT —- Two men
are expected to be arraigned
on Friday in the Freeport
Magistrate's Court in con-
nection with Monday's
shooting at Garden Villas.

ASP Hector Delva said
police have also withdrawn
the All Points Bulletin issued
on George Alexander Fer-
guson, who surrendered to
authorities around 10am
Thursday.

Ferguson, 29, was wanted
for questioning in connec-
tion with Monday’s shooting
of a Bimini man.

Also wanted was Rodnell
Octavien, 25, of No 24 Impe-
rial Gardens, East Atlantic
Drive.

SIXTY-FOUR suspected
illegal immigrants were
apprehended yesterday by
officers from the Royal
Bahamas Defence Force and
the Department of Immigra-
tion.

The apprehension exercise
began at 6am, with officers
setting up road blocks on
numerous roads in western
New Providence.

Among those apprehend-
ed were 57 Haitians, three
Peruvians and one Jamaican
man.

Anglican Church
of the Epiphany’s
annual fair

The Anglican Church of
the Epiphany will hold its
annual fair on Saturday,
October 30, at the church on
Prince Charles Drive.

The event starts at 6am
with a souse out, patio sale
and plant stall. It then con-
tinues from noon to 8pm
with chicken and steak din-
ners, home cookery, conch
fritters, pastries, games,
bouncing castle, Halloween
competition and fireworks to
name a few attractions.

There will also be a prayer
stall, for those persons who
desire prayer.

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STUART HALBERT, Broker - T: 396.0034 | C: 424.0554 | stuart@bahamasrealty.bs | www.bahamasrealty.bs/564449



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

FRIDAY, OCTOBER 29, 2010, PAGE 9









ee

Bahamian sraduates from the
World Maritime University

LIEUTENANT Commander
Herbert Bain returned home
with a new degree and insight
for the Bahamas’ maritime sec-
t ° r ‘
He anticipates using his new
skills to help form national mar-
itime regulations that comple-
ment international maritime leg-
islation.

“Most countries do not have
the capacity to police their bor-
ders so that is a reality that we
are aware of and international
cooperation and collaboration
can fill some of the gaps when it
comes to your limitations as a
country,” said Lt Commander
Bain.

“We are the third largest ship
registry in the world, so when it
comes to ship safety we have a
major responsibility and obliga-

tions for safety to life at sea as
well as all the other conventions
related to ships in international
trade. So, all maritime issues
become very important to us.”

On October 10, he graduated
from the World Maritime Uni-
versity in Mamao, Sweden with
a Masters degree in Maritime
Affairs.

The awards were presented
by the Secretariat General of
the International Maritime
Organisation (IMO), EE
Metropoulos, Chancellor of the
University.

The Masters in Maritime
Affairs programme is an inten-
sive 17-month long programme,
endorsed by the United Nations.

Lt Commander Bain antici-
pates his knowledge would be
used to assist in drafting mar-

itime legislation and policies that
coincide with the international
Law of the Sea.

He also looks forward to
paving the way for young
Bahamian cadets to get expo-
sure with working on private
yachts.

“Opportunities are available
within the industry. There’s a
lot of things we can do asa
country to attract young people.
to the industry. With the num-
ber of ships we have out there
we need to get our young cadets
on ships and get them exposed,”
said Lt Commander Bain.

“Along with the commercial
shipping industry, we have the
most cruise ships on our register
and yachts are considered pas-
senger ships as well. We have
other commercial ships, such as

tankers, where we could also get
Bahamians on board (these
ships). The key is for us to start
somewhere and create that
avenue.”

Lt Commander Bain spe-
cialises in maritime safety and
environmental administration
and concentrated on interna-
tional maritime law and policies,
port management, maritime
ocean management, environ-
mental administration, as well
as other areas in the maritime
sector.

He was the former Interna-
tional Ship and Port Security
(ISPS) coordinator for the
Bahamas. He also served as the
Bahamas’ 24-hour single point
of contact for the IMO.

“Tam convinced that numer-
ous opportunities exists within

the maritime field for young
Bahamians. Also, I am commit-
ted to assisting in the growth
and development of the indus-
try”, said Lt Commander Bain.

Lt Commander Bain began
his maritime career in 1984
when he joined the Royal
Bahamas Defence Force and
was sent to Britannia Royal
Naval College at Dartmouth,
England to complete the Royal
Navy’s International Midship-
man’s Course.

Since then, he has qualified
himself in several other mar-
itime related areas which include
inter alia port operations and
management, marine surveying,
Commercial Ship Master/Chief
Mate Certificate, IMO member
state auditor and marine pilot
training.



BIS Photo
ACCOMPLISHED: LIEUTENANT
Commander Herbert Bain earned
the degree of Master of Science
in Maritime Affairs with the presti-
gious and award of “distinction”
from the World Maritime Universi-
ty, Malmo, Sweden.



BSE donates $40,000 to the Peter Gordon Memorial Bursary

THE Bahamas Society of
Engineers (BSE) has donated
$40,000 to a fund at the Col-
lege of the Bahamas to ensure
that a scholarship opportunity
will be available to engineer-
ing majors.

This fund, the Peter Gordon
Memorial Bursary, is named in
honour of the former Director
of Public Works who con-
tributed significantly to the
development of the engineer-
ing profession, said COB pres-
ident Dr Earla Carey-Baines
as she thanked the BSE for the
financial gift during a press con-
ference on Wednesday.

Speaking of Mr Gordon, Dr
Carey-Baines said:

“His mentorship has been
invaluable to many who have
followed his professional foot-
steps,” she said speaking at the
Chapter One Bookstore.

“The bursary will be award-
ed to a student enrolled in a
full-time undergraduate degree
programme in engineering at
COB who has a demonstrated
financial need.”



Engineering is one of COB’s
most highly subscribed pro-
grammes in the School of
Mathematics, Physics and
Technology; in fall of this year,
approximately 80 students were
enrolled in this programme
alone, Dr Carey-Baines said.

“This most generous gift
demonstrates that the Bahamas
Society of Engineers recognis-
es the critical importance of
supporting our students and
fostering opportunities through
which they can attain a high
quality tertiary education,” said
the college president.

Through the gift, the BSE
joins a long list of private
donors and friends who have
supported the college and its
students through their philan-
thropy, she added.

Chairman of the BSE schol-
arship committee Robert Deal
Jr explained that Mr Gordon,
who was born in the United
Kingdom, left a legacy in the
Bahamas where he mentored
many engineers through their
professional development.

Mr Deal also thanked the 45
sponsors and those within the
BSE who assisted in the col-
lection efforts of the scholar-
ship committee. He said the
committee exceeded its collec-
tion target by more than $5,000.

President of COB’s Union
of Students Antonio Butler
said: “For some fortunate stu-
dents studying engineering, this
gift and the endowment that
will result will mean the differ-
ence between having a dream
and being able to bring that
dream to fruition.”

The prevailing economic
conditions, coupled with finan-
cial challenges facing many
families, place the dream of
having a quality college or uni-
versity education out of reach
for some students who aspire to
become contributing members
of the society.

“But through this gift, and
others like it, private donors
are ensuring that this is no
longer an obstacle to accessing
tertiary level education,” Mr
Butler said.

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DONATION: THE Bahamas Society of Engineers presented the College of the Bahamas with a $40,000 gift
to fund the Peter Gordon Memorial Bursary at Chapter One Bookstore on Wednesday, October 27. Pic-
tured from left: Dr Robert Reiss, president of the Bahamas Society of Engineers; College president Dr Ear-
la Carey-Baines; widow of the late Mr Gordon, Linelle Gordon; COBUS president Antonio Butler, and chair-
man of the BSE scholarship committee Robert Deal Jr.

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THE TRIBUNE

Ul

y



FRIDAY.

its

OCTOBER 29,





2010

SECTION B ¢ business@tribunemedia.net



BIC slams
a ‘flawed’
URCA study

* State-owned carrier
says cellular call
termination rates 47%

Robin Hood’s $30- | BES ‘affiliate’

buys majority

below industry average |

By NEIL HARTNELL
Tribune Business Editor

The Bahamas Telecommu- }
nications Company (BTC) has }
slammed as “flawed” the indus-
try regulator’s benchmark study

of its termination rates, argu-

are “invalidated” because none }
of the other jurisdiction stud- }
ied were comparable to the }

Bahamas’ 42-island archipel- i lion over the next four years to
? expand the retailer’s total

R In i. ee the Utilities Bahamian store portfolio from
een ompetition } the current two to six, as he pre-

Authority’s (URCA) consulta- }

ago.

tion on its draft Reference :

Access and Interconnection ? weeks for the 44,000 square

Offer (RAIO), the state-owned }

incumbent, which is in the mid-

dle of a privatisation exercise } view with Tribune Business,

as fads abana sae : i told Tribune Business that the
appomtec committee negollale + expansive retailer was looking
with Pane & Wireless, said at ? for a third Robin Hood site for
was “highly inappropriate” tO ¢ next year, with its second outlet
compare BTC’s proposed intra- }

island termination rates with }
those levied in the jurisdiction }

sample selected.

“The other termination rates }

represent tariffs for call termi-
nation on a single island or
small group of islands,” BTC

comparable to a situation }
where call termination is pro- }
vided across 42 islands in the }

Bahamas using an extensive
under-sea cable network.

“The very first responsibility
when conducting a benchmark
study is to ensure that service
definitions for the peer group
are comparable, and URCA
has failed in this important first
step. This is such a flaw in the
comparison that it invalidates
any conclusions, preliminary or
otherwise, relating to this
benchmark study.”

As for its cellular termina-
tion rates, BTC said the pro-
posed charge was low in com-
parison with other regional
rates. The Bahamas’ rate of
$0.0724 per minute, it added,
was lower than the $0.0746
charged in Trinidad, the
$0.1184 levied in Anguilla,
$0.1441 in the eastern
Caribbean, and the $0.2251
charged in the Cayman Islands.

“It is clear from the graph
that Bahrain is such an outlier
compared with Caribbean
benchmarks that a more rea-
sonable conclusion would be

SEE page 5B

Cable urges 46%
fall in BIC data
entry costs

By NEIL HARTNELL
Tribune Business Editor

Cable Bahamas is arguing
that the Bahamas Telecommu-
nications Company (BTC)
should reduce the per data
entry charge under its Refer-
ence Access Interconnection
Offer (RAIO) by a further 46.4
per cent, from $1.91 to $1.02,
and has called on the regula-
tors to mandate “zero-based”
interconnection rates for local
call termination.

Responding to the Utilities
Regulation & Competition
Authority’s (URCA) public
consultation on BTC’s draft
access and interconnection
offer, the BISX-listed commu-
nications provider said BTC’s
consumer prices for local fixed-
line voice calls “appear to be
set at a level that is below cost
and subject to flat rate pricing,
even though a substantial por-
tion of the corresponding costs
are traffic-sensitive”.

Arguing that this could act
as an anti-competitive barrier
to other telecoms operators
(such as itself, given that Cable
Bahamas is eager to enter the
fixed-line voice market, espe-

SEE page 7B

$40m growth plan

| Mi Retailer eyeing growth from two to six stores in four years, with expansion
' to Abaco and Freeport
| I ‘Hundreds of jobs’ to be created within next 10 months, with hiring for
: 100-plus at Robin Hood set to begin in three weeks
| i Fixtures/furnishings costs drop by 60-70% as result of recession

I Fifty-five-65 contractors and tradesmen working to ready Prince Charles

site for pre-Christmas

i By NEIL HARTNELL

ing that the conclusions drawn Tribune Business Editor

over its fixed-line voice services

Robin Hood’s principal yes-
terday said he was looking at
investing a further $30-$40 mil-

pares to start hiring more than
100 persons over the next few

foot new Prince Charles outlet.
Sandy Schaefer, in an inter-

- the converted former Pepsi-
Cola manufacturing facility -

SEE page 3B

EXPANDING: New Robin Hood sh
Charles Drive.

Airlines grounded

argued. “This is obviously not :

by Customs over
aircraft sums owed



GLENN GOMEZ

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

The Customs Department
is preparing to demand that
numerous Bahamian airlines
and charter operators hand
over what amounts to millions
of dollars in unpaid Customs
and Stamp duties allegedly
owed on previously imported
aircraft, or face having their
aircraft seized.

Glen Gomez, Comptroller
of Customs, said his depart-
ment’s move comes after an
investigation lasting several
weeks, which culminated in
the discovery that “a fair
amount” of all Bahamian
operators owe the department
money for planes - $700,000 in
the case of one unnamed local
airline.

Aircraft are dutiable at 10
per cent, noted Mr Gomez,
who further revealed that the
department is still determin-
ing whether airlines and char-
ter operators will pay a penal-
ty on the allegedly overdue
duty, potentially adding to the
financial burden.

Randy Butler, chief execu-
tive of Sky Bahamas, said he
had been informed by a
senior Customs officer that
the duty was to be demanded
of his company in a recent
meeting. He told Tribune
Business it is likely that sev-
eral operators may be asked
to pay out “several hundred
thousand dollars” each if the
department goes ahead with
collecting the duties.

“The Government had on
the books this 10 per cent
Stamp tax on planes coming
into the Bahamas but it was
never collected. Now they
want to go back to all the
ones which have been here
for years,” said Mr Butler,
who suggested it was an over-
sight on the part of Customs

SEE page 4B



* Department says
one airline owes
$700,000 in unpaid
Customs and Stamp
duty on imported
planes

* Operators believe
demand for extra
taxes ‘will kill us all’

FG FINANCIAL

PENSIONS & INVESTMENTS

call us today at 396-4080

FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET | www.famguardbahamas.com



The information contained is from a third
party and The Tribune can not be held
responsible for errors and/or omission |
from the daily report,



FAMILY GUARDIAN

INSURANCE COMPANY LIMITED



City Markets
shareholding

* Deal for undisclosed sum set to close by

November 5

* Union feels 700 jobs ‘safe whatever happens’
* Wholesaler’s plans to integrate retailer likely
to shake up Bahamian wholesale/retail industry

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A company that grocery industry sources last night said
was affiliated with Bahamas Food Services and its principal,
Ben Frisch, has signed a preliminary agreement to pur-
chase the majority 78 per cent stake in City Markets held by
the BSL Holdings investor group in a deal which, if it goes
through, will shake-up the Bahamian retail and wholesale

sectors.

Derek Winford, City Markets chief executive, confirmed
in a statement yesterday afternoon that a Bahamian com-
pany, Associated Grocers of the Bahamas, had signed a
Memorandum of Understanding (MoU) to purchase BSL
Holdings’ 77.782 per cent interest in the troubled 11-store
supermarket chain, adding that the buyer had “the necessary
tools and resources to reengineer and revitalise Bahamas
Supermarkets’ operations to make it a viable, competitive
and profitable company”. No purchase price was disclosed,

SEE page 6B



Developer sees 20%
rise in rental prices

By ALISON LOWE
Business Reporter

alowe@tribunemedia.net

A major Exuma developer
has seen a 20 per cent
increase in property rental
prices and a “good year” for
sales, crediting the re-open-
ing by Sandals of “anchor ten-
ant”, the Emerald Bay prop-
erty, for improving business
conditions.

Randy Hart, managing
director of February Point -
a high-end boutique resort
community in Great Exuma
- said he believes part of the

improvement in prospects fol-
lowing the “dark ages when
the sky was falling down” eco-
nomically, due to the closure
of the Emerald Bay property,
was because his resort was
already relatively well estab-
lished in comparison to other
similar developments.

His comments on the
impact Sandals has had on
business for February Point
stand in contrast to those
from Exuma Chamber of
Commerce president, Floyd

SEE page 4B



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PAGE 2B, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE



LEADING FINANCIAL
WORKERS HONOURED



EXECUTIVE OF THE YEAR : L to R - BFSB chairman Paul Winder; John M. Lawrence; Deputy Prime Min-
ister Brent Symonette.



! wim

STUDENT OF THE YEAR: L to R - BFSB chairman Paul Winder, Societe Generale Private Banking's Renee Bar-
row, Deputy Prime Minister Brent Symonette, Edmund T. Bain, and CFAL's Sophia Thurston and Pamela Mus-
grove.





7 fa ay

DEVELOPMENT AND PROMOTION AWARD: L to R - BFSB chairman Paul Winder, Pamela L. Klonaris,
Deputy Prime Minister Brent Symonette.






































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The Bahamas Financial Ser-
vices Board (BFSB) celebrat-
ed the 10th anniversary of its
Industry Excellence Awards
programme last week at a
Gala Dinner.

The recipients for the 2010
Student of the Year, Achiever
of the Year, Professional of
the Year and Executive of the
Year were announced.

Also recognised at the
awards ceremony were the
recipients of the 2010 Devel-
opment and Promotion
Award, and the new BFSB
Mentorship Award. The latter
was introduced this year to
commemorate the anniversary
celebration.

The 2010 Recipients are:

Achiever of the Year:

* Dominique L. Glinton,
legal administrator/office man-
ager, Glinton Sweeting
O'Brien

Professional of the Year

* Veronica Moncur-Sher-
man, team head, Asia Desk,
UBS Trustees (Bahamas)

Executive of the Year

* John M. Lawrence, chair-
man, Windermere Corporate
Services

Student of the Year
* Edmund T. Bain - BBA
Accounting:

The Bahamas Financial Ser-
vices Board (BFSB) selected
Pamela L. Klonaris for its 2010
Development & Promotion
Award in recognition of her
development of the
SMART(c) Fund 006 Model.

Eve M. Burrows-Poitier,
CFA (Retired, Head of Eco-

f
W





PROFESSIONAL OF THE YEAR : L to R - Deputy Prime Minister Brent

Symonette and Monalisa Stubbs of UBS Trustees Bahamas, accepting
the award on behalf of Veronica Moncur-Sherman.



. |

ACHIEVER OF THE YEAR: L to R - BFSB Shaina Paul Winder,

Deputy Prime Minister Brent Symonette, Dominique L. Glinton, AIBT

chairman David Thain.

nomics, Banking & Finance
Department, College of the
Bahamas) was chosen as the
recipient of the first Mentor-
ship Award.

BFSB introduced the Indus-
try Excellence Awards Pro-
gramme in 2001 in collabora-
tion with the FSI Industry
Associations to recognise

ss

excellence in performance
among industry practitioners.
This year, the Association of
International Banks & Trust
Companies in the Bahamas
(AIBT) joined forces with
BFSB to enhance the profile
of the annual Financial Ser-
vices Industry Excellence
Award.

ALL TOGETHER: Pictured left to right: Dianne Bingham, Tanya Hanna, Anita Bain, Samantha Symon-
ette, George Carey , Clement Penn, Nicole Pratt-Rolle, Timothy Colclough, Paul Winder, Dena Andrews,

Samuel Haven.

A RoyalFidelity Merchant Bank & Trust
pensions manager was the guest speaker at
the monthly Society of Trust and Estate
Practitioners (STEP) luncheon meeting at
the British Colonial Hilton on 21st Octo-

ber, 2010.

Cleora Farquharson presented on pen-
sion trusts in the Bahamas, focusing on the

Tent]



4 { SAS TSSELENS
PALER DEAS TERRELL

ON TO WWW.TRIB

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Tate

social and financial imperatives for pension
scheme development. She also gave infor-
mative statistical comparisons to underscore
her main points.

STEP Bahamas awarded one Diploma

Ts
it i

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—

UNE242.COM
THE TRIBUNE





Resort remains
on the market

The 32-room Peace and
Plenty boutique resort in Exu-
ma remains up for sale, but has
attracted little interest so far,
its general manager said yes-
terday.

Charlie Pflueger said reno-
vations have been undertaken
on the property - including a
new roof, replaced windows
and a paint job - to enhance its
attractiveness to would-be
investors.

Plans to formally market the

hotel, which overlooks Eliza-
beth Harbour in Great Exuma,
have yet to be put in motion,
but its availability has been
made known by word of
mouth, said Mr Pflueger.

The property has been avail-
able since its owner died over a
year ago, and his two sons
determined that they would sell
the asset.

Mr Pflueger said he believes
a price tag of around $8.5 mil-
lion would be attached to the

Peace and Plenty, although this
has not been pinned down.

The mini-resort has been
closed for its seasonal renova-
tions since mid-August and has
yet to re-open.

“We'll be closed a little
longer this year. Business is a
little light, so we’re not in any
hurry. We’re doing painting
and repairing, and we’ll proba-
bly re-open around Decem-
ber,” said the general manager.

FROM page 1B

still on target for a pre-Christmas 2010 opening.

“We’re looking for another four to five acres to
build our own shopping centre, probably some-
where in the south,” Mr Schaefer said of plans for
a third Robin Hood store in New Providence.
“T think there’s a great market unexplored down
there. I have a couple of options we’re looking at,
and if anyone has land they’re looking to sell
cheaply, give me a call.

“Beyond that, we’re looking for a fourth store
and then will consider New Providence totally
developed. Our logical next step will be Abaco
over Freeport, and then we will do Freeport, all
in the next three to four years.”

Asked how much investment this would
involve, Mr Schaefer told Tribune Business: “If
you look at everything involved - the cost of
acquiring the land, building the shopping cen-
tre, fixturing it and stocking it, you’re looking
at a minimum for another four locations of any-
where from $30-$40 million.”

Some 55-65 contractors and tradesmen are
working feverishly to get Robin Hood’s Prince
Charles store ready for a pre year-end opening,
and Mr Schaefer added: “I would say that as far
as the building is concerned, we’re better than 50
per cent of the way there. We’re actually going to
start stocking the store in the next three-and-a-
half to four weeks.”

Fixtures and the refrigeration equipment were
set to be installed from yesterday, and Mr Schae-



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Robin Hood’s $30-
$40m growth plan

fer said Robin Hood had invested around $1.7
million in upgrading the building it inherited
from Pepsi-Cola in what was a $2.05 million
transaction. He revealed that the drinks manu-
facturer had rejected a higher $3 million offer
from the retailer some 12 months before.

Apart from $2-$2.5 million in inventory need-
ed to stock the Prince Charles store, Mr Schaefer
said Robin Hood was spending less than $1 mil-
lion in fixturing and outfitting the property,
explaining to Tribune Business that the reces-
sion had depressed furnishings/fixtures prices by
some 60-70 per cent compared to what he would
have paid three years ago.

Apart from the new Robin Hood store itself,
Mr Schaefer confirmed that he also plans to con-
struct -beginning in December or the New Year
- a $4-$4.5 million, 44,000 square foot, two-floor
shopping centre on the same four acre property.
It will be located in front of Robin Hood, closer
to the actual roadway itself.

“T’m sure you’re looking in the hundreds,” he
said, when asked about the number of jobs set to
be created by his expansion venture.

“There’s hundreds of jobs to be created with-
in the next 10 months.”



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he couldn’t stand, but just two visits and his pain was gone.

A woman suffered from migraine headaches because of depression,
but after acupuncture her pain was gone.

An elderly man had bad knee pains for many years. All around
soreness from old age, after just three treatments he can now move
freely as a young man.

Special Treatment for
DIABETES, HYPERTENSION, SINUS, ARTHRITIS, CARPEL
TUNNEL SYNDROME, REPETITIVE STRESS INJURIES,
STIFF NECK

Friday October 29th through Saturday October 30th

Tel. 323-2900
Monday - Saturday 10:30am - 5:30pm
Bay Street (two doors east of Victoria Ave)



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


PAGE 4B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



Airlines grounded by Customs over aircraft sums owed

FROM page 1B

that led to the situation.

He said the move would
“bring further hardship and
undue burden on an industry
which is trying to grow” at a
time when they are being - or
may soon be squeezed - by
increases in other Customs
duties, Civil Aviation and
Business Licence fees, as well
as a lowering of rates by their
main competitor, Bahamasair,
which is government-sub-
sidised.

But Mr Gomez said: “We
are seeking to collect what
should’ve been paid before.”

Asked whether the airlines
will be asked to pay in one
lump sum or can pay in phas-
es, the Customs chief said the
department is “not unreason-
able”.

“Tf that’s what needs to be
done we can look at that,” he

FROM page 1B

Armbrister, who told Tribune
Business two weeks ago that
Exumians were disappointed
at the lack of trickle-down
impact from Sandals on the
island’s economy, which he
connected with its all-inclu-
sive model.

Mr Hart said that since the
re-opening of Sandals and the
introduction of increased air-
lift to Exuma, such as direct
flights from Toronto, expo-
sure for the development is
up, although potential
investors are more cautious.

“People have become more
discerning now - they are not
buying into every start-up
project or every dream on the
island - they are looking for
things they know are stable
and will be there in a couple
of years, and I think that’s one
of the selling points for our
development. We have the
critical mass of infrastructure
in place,” said Mr Hart.



BKG/410.03



RANDY BUTLER

said. Mr Gomez would not
reveal which airlines have so
far been found owing duty,
how many of them there are
or exactly what they may be
deemed to owe. He said that
in some cases the aircraft on
which duty was outstanding
have been in the country for
several years.

As for the penalty that

could be imposed, the Comp-
troller said: “Everybody
would more than likely be
treated similarly, but once we
have sat down with everybody
then it will be determined,
understanding and appreciat-
ing that some people may
have done what they did in
ignorance, although that’s not
the case with everybody.

“Tf you were ill-advised we
could take that into consider-
ation, but there are others
who have been in business for
quite some time and are well
aware of rules and regulations
governing planes coming into
the country.”

Mr Gomez said the Depart-
ment intends to step up its
vigilance regarding planes
being brought into the coun-
try.

Asked how Customs has
overlooked the planes on
which duty should have been
levied until now, he said:
“Some people go and pur-

Developer sees 20% rise in rental prices

Mr Hart described the busi-
ness environment in recent
years as a “survival of the
fittest”.

“A few years ago we
would’ve had dozens of com-
petitors. Now there’s a very
short list of developments in
the Family Islands in terms of
planned high-end boutique
resort communities. There’s
a short list of survivors,
excluding Nassau and Grand
Bahama,” said the managing
director of the 80-acre com-
munity, which offers rentals,
fractional ownership and cus-
tom homes.

Nonetheless, Mr Hart
spoke up at the Exuma Busi-
ness Outlook seminar on
Wednesday to question Min-
ister of State for Finance,
Zhivargo Laing, on how much
of the millions in “stimulus”
the Government has sought
to inject into the Bahamian

ADVERTISEMENT FOR THE BAHAMAS
GOVERNMENT TREASURY BILLS

Sealed tenders for B$76.209M of 91-Day Treasury Bills,
B$53.0M of 182 Day Treasury Bills will be received by the
Banking Manager, The Central Bank of The Bahamas, Fred-
erick Street, Nassau up to 3:00 p.m on Tuesday, November
2, 2010. Successful tenderers, who will be advised should take
up their bills against payment on Thursday, November 4, 2010.
These bills will be in minimum multiples of B$100.00.

Tenders are to be on special forms obtainable from the Central
Bank of The Bahamas or Commercial Banks.

Tenders must state the net price percent (in multiples of one
cent) and should be marked “Tender”. The Central Bank of the
Bahamas reserves the right to reject any or all tenders.

ARIK OOK IR IK RR ROR OK OK OK OK OK OR OK OR OR OR OK OK OK OK OK OR OK OR OR OR OR OR OK OK KK RK RK

ROYAL @ FIDELITY

Morty at Work

economy through capital
works projects had benefited
Exuma, suggesting there’s a
“long shopping list” of out-
standing infrastructural needs
on Great Exuma that need to
be addressed for the benefit
of locals and visitors if growth
is to be maximised.

Primary among these,
according to both Mr Hart
and Chamber of Commerce
president Mr Armbrister, are
the medical facilities - or lack
thereof.

Mr Hart and Mr Armbris-
ter suggested that the inade-
quacy of the health clinic - at
a time when Exuma’s popu-
lation has been recorded as
having more than doubled in
the last decade - is costing the
island.

Speaking at the Outlook
seminar, Mr Armbrister said:
“Exuma’s economy again is
experiencing significant set
backs because of the fact we
don’t have adequate medical
care. A young lady said to me
her child was experiencing
seizures on an ongoing basis.
They had to take a flight to
Nassau and it cost them

chase a plane and then have a
foreign pilot carry it into the
country. Some may bring in
a plane and they may tell us
that they’re looking at using
the plane for a short time to
see if they like it before decid-
ing if they’re going to pur-
chase it.

“Often times the person
checking in that person may
not see that plane being flown
inter-island. Different offices
do different tasks.”

Andrew Kelly, of Abaco
Air, said he believes Bahami-
an airlines should be given
special consideration when it
comes to duty.

“They are an important
part of the Bahamas because
of the geographics. We need
them to help move Bahami-
ans and tourists around, and
anything the Government can
do to assist with this would
be great. The aviation busi-
ness is a very regulated busi-
ness. We have a lot of expens-

$5,000. Then, when they got
to Nassau, they looked at the
child, gave the child a shot,
and said: “This is what you
came for?’.

“Tf the economy of Exu-
ma is to be restored and sus-
tainable then a number of
things need to happen - some
private sector, some by gov-
ernment - and I think infra-
structure improvement is one
of those things we need.”

Meanwhile, Mr Hart told
Tribune Business that when
he recently broke a bone in
his foot, he had to fly to Nas-
sau because of a lack of x-ray
facilities or even a pair of
crutches on the island.

“The population has effec-
tively doubled in a decade but
the infrastructure has
declined,” said Mr Hart,
speaking more generally of
infrastructural conditions.

“Georgetown is in dire
need,” he added, echoing
director-general of tourism
David Johnson, who earlier
told the seminar that the
dilapidated government dock
must be replaced, a “heavy
cleaning” of Georgetown
should take place and a halt-
ing of emissions of untreated
sewage into local harbours
must stop.

IMPORTANT NOTICE

We wish to advise the public that the
Valley Boys Grand Raffle, Schedule
for Saturday October 30th, 2010 has
been rescheduled to Saturday Novem-
ber 20th, 2010. The raffle will be drawn
at 6:00pm at Tyreflex Wulff Road.
We apologize for any inconvenience

caused.

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 28 OCTOBER 2010

The Valley Boys

EJ EG CAPITAL MARKETS
Sq BROKERAGE & ADVISORY SERVICES

ere i ca wT A TT.

BISX ALL SHARE INDEX: CLOSE 1,488.77 | CHG -2.14 | %CHG -0.14 | YTD -76.61 | YTD % -4.89

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

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

AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark
Bahamas Waste
Fidelity Bank
Cable Bahamas
Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard
Fince
FirstCaribbean Bank
Focol (S)
Focol Class B Preference
ICD Utilities
J. S. Johnsen
Premier Real Estate 5 10.00 a
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Securit Last Sale Change Daily Vol.
Bahamas Note 6.95 (2029) 0.00
Fidelity Bank Note 17 (Series A) + 100.00 0.00
Fidelity Bank Note 22 (Series B) + 100.00 0.00
Fidelity Bank Note 13 (Series C) + 100.00 0.00 T%
Fidelity Bank Note 15 (Series D) + 100.00 0.00
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)

Symbol Bi Ask © Last Prince: Daily Wo.
Bahamas Supermarkets i 6.01 14.00
RND Holdings

0.35 0.40 0.55
CFAL Securities Ltd. (Over-The-Counter Securities)

ABDAB
RND Holdings 0.45 0.55 0.55
BISX Listed Mutual Funds
Fund Name ‘9
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund
Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 — Royal Fidelity Bah Int Investment Fund Principal
Protected TIGRS, Se 4

1.539989

109.392860
100.779540

10.0000
10.5308
9.1708
9.4372
7.8830

4.8105 .
MARKET TERMS

Royal Fidelity Int'l Fund - Equities Sub Fund

BISX ALL pale INDEX - 19 Dec 02 = 1,000.00
+t 52

le
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
KS1) - 3-for-1 Stock Split - Effective Date 7/11/2007

Prime + 1.75%

Prime + 1.75%

EPS $

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

Div & P/E

1.524278

107.570619
105.776543

30-Sep-10
30-Sep-10
30-Sep-10

31-Aug-10
30-Sep-10

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

es, insurance, fuel, landing
fees, so many regulatory
things to deal with. Probably,
if you’re lucky, yoiu might
make 10 per cent at end of
year. If they do this they

might as well close us down.
Right now, we’re just strug-
gling to pay staff. If they
impose that on operators it
will kill us all.”

DONALD CURRY of Lewis Street #21,

NOTICE
MICATUNA MANAGEMENT LTD.

NOTIC EIS HEREBY GIVEN as follows:

MICATUNA MANAGEMENT LTD. is in
voluntary dissolution under the provisions

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

The dissolution of the said company
commenced on the 26th October, 2010 when
the Articles of Dissolution were submitted to
and registered by the Registrar General.

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

Dated this 29th day of October, A. D. 2010

CST Administration (Bahamas) Limited
Liquidator

NOTICE
QUAYSIDE LIMITED

NOTIC EIS HEREBY GIVEN as follows:

QUAYSIDE LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

The dissolution of the said company
commenced on the 12th October, 2010 when
the Articles of Dissolution were submitted to and
registered by the Registrar General.

The Liquidator of the said company is Manex
Limited, The Bahamas Financial Centre,
Shirley & Charlotte Streets, Nassau, Bahamas

Dated this 28th day of October, A. D. 2010



Manex Limited
Liquidator

NOTICE

NOTICE is hereby given that TELUS GINETTE of CHARLES
VINCENT STREET, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should not be granted,
should send a written and signed statement of the facts within twenty-
eight days from the 22"4 day of October, 2010 to the Minister
responsible for nationality and Citizenship, P.O. Box N-7147, Nassau,
Bahamas.



PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, CREIGHTON
PO.
Box N 4135, Nassau, Bahamas intends to
change my name to MARIO DONALD CURRY.
If there are any objections to this change
of name by Deed Poll, you may write such
oe ections to the Chief Passport Officer, RO.Box
42, Nassau, Bahamas no later than thirty (30)
days after the date of publication of this notice.

NOTICE

NOTICE is hereby given that SHERLEAN PREMILIEN
of P.O.Box N7060, FAITH GARDENS, NASSAU, THE
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 22"¢ day of
October, 2010 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CATHERINE ANITA
MOULTRIE of NO. 1 VISTA MARINA, NASSAU, THE
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 22"4 day of
October, 2010 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

NOTICE is hereby given that CHARITE VIL of ELIZABETH
ESTATES, NASSAU, BAHAMAS is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person
who knows any reason why registration/naturalization should not
be granted, should send a written and signed statement of the
tacts within twenty-eight days from the 22"4 day of October,
2010 to the Minister responsible for nationality and Citizenship,
P.O. Box N-7147, Nassau, Bahamas.



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

FROM page 5B

that Bahrain may not provide a
relevant comparison,” BTC
said.

If the non-Caribbean tariffs
were removed from URCA’s
sample, the Bahamas would
have the lowest cellular termi-
nation rate, well below the
regional average of around
$0.14 per minute.

“We suggest that based on
the above comparison, the first
indication (and indication only)
is that BTC’s suggested rate for
mobile termination rates are
low by regional standards,”
BTC argued. “Tn fact, they are
47 per cent lower than the
straight average presented
(BTC’s 7.24 cents per minute
versus a regional average of
$13.6 cents per minute, exclud-
ing the proposed Bahamas tar-
iff).”

URCA had argued that the

FRIDAY, OCTOBER 29, 2010, PAGE 5B

BIC hits out at a
‘flawed’ URCA study

cost base used by the Bahamas
Telecommunications Company
(BTC) to draft its initial inter-
connection offer was effective-
ly over-valued by 70 per cent,
resulting in it significantly
reducing the tariffs the state-
owned incumbent proposed to
levy on rival operator.

URCA said that prior to the
interconnection costs adjust-
ment, a benchmarking exercise
showed that BTC's per minute
charges for calls terminating on
its fixed-line network were "sig-
nificantly higher than those in
any of the competitor coun-
tries".

BTC's initial 3.35 cents per
minute for terminating inter-
island calls was "twice as high
as the sample average", but the
revised fixed-line termination

rates were "more in line” with
rivals, below the likes of Malta,
Trinidad and Anguilla. How-
ever, even the revised fixed-line
termination rates were higher
than the sample average.

As for network transit
charges, BTC's proposals were
described as "very high com-
pared" to the other sample
countries, with the sample aver-
age excluding the Bahamas
standing at 0.61 cents per
minute - well below the four
charges proposed by BTC. The
revised charges imposed by
URCA brought BTC more into
line, but transit services using
two interconnection points
would still be "the highest”.

While BTC's on-island cel-
lular call termination charge of
7.24 cents per minute was low-
er than other Caribbean juris-
dictions, its call charge for the
emergency services was the sec-
ond highest even with the
URCA-imposed reductions.

An established Nassau based company seeks to fill the position of
Assistant Financial Controller. All applicants MUST possess the

following:

* Passing grades on all parts of the CPA examination.

¢ 1-2 years experience working with an Accounting firm.
¢ Strong analytical skills.
* Strong organizational skills with the ability to work independently.
¢ A thorough working knowledge of Microsoft Excel.

¢ The ability to learn quickly.

¢ Excellent communication and team work skills.

¢ The ability to manage multiple tasks and responsibilities

simultaneously.

Interested persons should submit their resumes

via e-mail to:

asstfinancialcontroller@hotmail.com

All resumes must be received by 19% November 2010.

Only persons meeting ALL of the requirements above need apply.

The American Embassy is presently considering applications for the

following position:

PROCUREMENT CLERK

The incumbent is responsible for data entry in multiple software systems
and maintaining the data bases; collecting, sorting, and filing all
correspondence in the Procurement Office.

Purchases a variety of goods and services for the Embassy and associated
agencies, establishes and maintains vendor relationships and provides
clerical support for the procurement section.

This position is open to candidates with the following qualifications:

‘Completion of secondary school,
‘Two years administrative/clerical work,
‘One year of purchasing experience,

PERSONAL ATTRIBUTES:

‘Must be able to use Microsoft word and Excel Software and have
knowledge of database maintenance.
«Must have the ability to type at least 35 WMP and have the ability to

research various potential sources for procurement.

‘Knowledge of the local market is a must.
‘Must have a valid driver's license and a clean driving record.

BENEFITS PROVIDED INCLUDE:

The successful candidate will be offered an excellent compensation
package including perfonmance-based incentives, medical and dental
insurance, life insurance, pension and opportunities for training and

development.

Applicants must be Bahamian citizens or US, citizens who are eligible for

employment under Baharnian laws and regulations.

Application forms can be found on the Embassy's website
nassau.usembassy.gov. under Key Embassy Links and employment
opportunities. Completed applications should be returned to the Embassy
via email to NassauHR@state.gov or fax to (242)328-7838, addressed to the
Human Resources Office no later than Monday, November & 2010.

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




























BDO BAHAMAS

receives
INTERNATIONAL QUALITY SUMMIT AWARD

In New York earlier this year, BDO Bahamas received the International Quality
summit Award in the Platinum category in recognition of continued commitment
to quality, excellence, leadership and Innovation by the Business Initiative
Directions (BID); a leading private business entity.

BDO Bahamas is pleased to be recognized on this global stage. Mr. G. Clifford
Culmer, Senior Partner, was proud to receive the award, and thanked the Council,
committees, companies and sponsors who submitted and voted for the firm.

BDO Bahamas, founded in 1977 by G. Clifford Culmer, has provided accounting,
auditing, insolvency, corporate finance, corporate recovery and restructuring,
forensic investigations and business consulting to owner managed businesses,

multinational corporations and public sector entities worldwide, BDO Bahamas is
a member of BDO International, the world's fifth largest accountancy organization.

ra as

eT]
? Summit
-, eerie 8

stall eile

PHOTO ENCLOSED:
Pictured above is Mr Jose E Prieto, Executive President of BID,
presenting the International Quality Summit Award
in the Platinum category to Mr. G. Clifford Culmer, Senior Partner of
BDO Bahamas.

eee

International Company Seeks to Employ

SALES AND MARKETING
MANAGER

Must:

- Be proficient in Microsoft applications and sales
software

- Have Bachelors Degree in Marketing
- Have experience in web and graphic design
‘Have 5 years + sales experience

‘Have increased sales and market share of previous
employers

- Have experience with cold calling as well as
meeting with prospects to introduce products

- Be willing to travel extensively

‘Be Personable, sales oriented and motivated

Please send resume to cgagnon@ucftrading.com
PAGE 6B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



a2 ee |
BES ‘affiliate’ buys majority City Markets shareholding

FROM page 1B

although it will be substan-
tially less than the $54 million
that BSL Holdings paid
Winn-Dixie in 2006.

The deal between BSL
Holdings — which is majority
owned by Trinidadian con-
glomerate Neal and Massy —
and Associated Grocers of the
Bahamas Limited (AGBL) is
subject to regulatory approval
and due diligence, and is
“expected to close on or
before November 5, 2010”,
said Mr Winford.

He did not name who was
behind Associated Grocers of
the Bahamas, describing this
as “an interesting question”
when contacted by Tribune
Business, but this newspaper’s
inquiries revealed that it is at
least affiliated with Bahamas
Food Services and Mr Frisch.
It is possible that the compa-
ny is Bahamas Food Services
by another name, but that
could not be confirmed at
press time last night.

If the deal is concluded, it
will create the Bahamas’ first
integrated wholesaler/super-
market retail operation, and
could ‘upset the apple cart’ in
both industries. Mr Frisch,

“We expect that
after the transfor-
mation a significant
number of jobs will
be preserved and
this was the main
motivation behind
the transaction.”

———SSsSSS
who owns Jacksonville-based
Beaver Street Fisheries, par-
ent of Bahamas Food Ser-
vices, and his management
team were yesterday said to
have contacted their other
Bahamian retail customers to
see if they could continue to
buy from the Bahamian
wholesaler if the City Mar-
kets deal went through.

Concerned

It would thus appear that
Bahamas Food Services/Mr
Frisch are concerned about
following the example of
Solomon’s, who lost numer-
ous retail customers when it
went into retailing. However,
Bahamas Food Services is the

COMMONWEALTH OF THE BAHAMAS

2010

IN THE SUPREME COURT

Equity

No. 1323

NOTICE

The Petition of LEYVON AND JOYCELYN
MILLER is in respect of the following parcel of

land:-

ALL THAT piece or parcel or tract
of land containing a total acreage of Seven
Thousand Six Hundred and Eight (7,608)
square feet situate in a Subdivision called and
known as Englerston Subdivision in the Central
District of the Island of New Providence, one
of the Islands of The Commonwealth of The

Bahamas.

Copies of the filed plan may be inspected
during the formal hours at:-

(a) The Registry of The Supreme Court,
Ansbacher House, East Street
North, Nassau, Bahamas, and;

The Chambers of Kingdom
Advocates & Associates, Rosetta
Street, Palmdale, Nassau, Bahamas.

Notice is hereby given that any person
having right to dower or any adverse claim

not reco

ized in the Petition shall within

thirty (30) days after the last day on which the
appearance of the Notice herein filed in the
Registry of The Supreme Court and serve on
the Petitioner or the undersigned a statement
of such claim. Failure of any such person to
file and serve a statement of such claim and
requisite documents within thirty (30) days
herein will operate as a bar to such claim.

Dated this 15" day of July, A.D., 2010
YOLANDA K.J. ROLLE

Attorney for the Petitioner

(D. 15, 17, 19)

pay less for insuring your car!



dominant player in supplying
meats and other produce to
the Bahamian restaurant and
hotel sector, including
Atlantis, and would thus have
a cushion if it lost any retail
customers.

And the company now has
a direct retail outlet through
which is can distribute its
products, with the integrated
retail/wholesale model allow-
ing it to obtain better mar-
gins, control costs and sell
exclusive product lines.
Bahamas Food Services’ lead-
ing position in the wholesale
market was recently strength-
ened through its acquisition
of Prime Bahamas, adding
1100 stockkeeping units
(SKUs) or product lines to its
existing 8,000, creating a com-
pany with 8,000 SKUs.

“Tt may be too much of a
controlling interest in one per-
son’s hands,” a source said,
suggesting that Bahamas
Food Services and Mr Frisch
were now doing their due dili-
gence.

The Bahamas Food Ser-
vices/Frisch purchase of City
Markets, if it goes through, is

likely to cause some conster-
nation among other whole-
salers/grocery retailers. Many
industry observers had pri-
vately questioned to Tribune
Business why the wholesaler
would be interested, given
City Markets’ immense prob-
lems and $27 million in col-
lective losses suffered in the
four years under BSL Hold-
ings’ ownership.

They queried why anyone
would want to take the com-
pany over, given the union,
pension fund and staff sepa-
ration package issues, plus
associated costs. Many gro-
cery industry observers had
suggested the obvious course
would be to let City Markets
slide into
administration/receivership,
letting interested parties
‘cherry pick’ the assets they
wanted.

The deal shows that Neal
& Massy has been rapidly
shopping City Markets
around to a variety of buyers.
Apart from AML Foods, Tri-
bune Business understands
that both Robin Hood’s
Sandy Schaefer and Super-

OT tC) Sa eet

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value’s Rupert Roberts were
approached to see if they
were interested, with the price
said to range from $10-$25
million. The latter two had no
interest, Tribune Business
understands.

Yesterday’s statement from
Bahamas Supermarkets
added that after closing the
transaction, it is expected that
the company under its new
ownership will continue to
operate City Market stores
“while it develops a rational-
isation plan”.

Mr Winford said: “The
Bahamas’ food retailing land-
scape has changed dramati-
cally over the last few years,
and Associated Grocers
brings the necessary tools and
resources to reengineer and
revitalise BSL’s operations to
make it a viable, competitive
and profitable company.

Preserved

“We expect that after the
transformation a significant
number of jobs will be pre-
served and this was the main
motivation behind the trans-
action.”

An unidentified spokesper-
son for Associated Grocers
said: “City Markets has a long
history of food retailing in the
Bahamas and is part of the

fabric of the community. We
are confident that the compa-
ny will thrive under our stew-
ardship and regain the promi-
nence it enjoyed in years
past.”

Mr Winford noted that the
22.238 per cent of Bahamas
Supermarkets owned by the
Bahamian public is “unaf-
fected under the transaction”.
He added that he was opti-
mistic the company would be
restored to profitability quick-
ly, and “shareholder value
would soon reflect the
improvement in the compa-
ny’s financial position.”

Elgin Douglas, president of
the Bahamas Commercial
Stores, Supermarket and
Warehouse Union, which rep-
resents around 300 of City
Market’s employees, held a
meeting yesterday with Mr
Winford prior to the
announcement of the deal, in
which he said he felt assured
that employees’ jobs would
be “safe whatever happens”.

“The first priority is the
workers,” said Mr Douglas.
Although the wording of Mr
Winford’s later statement
introduced a level of uncer-
tainty into the equation, the
union president said that he
was “under the impression
employees will not be laid off
whatever happens”.

NOTICE

IN THE ESTATE OF PENELOPE
ANNE HEWITT domiciled and late of
5 Avocet Quay Emsworth, Hampshire,

England, deceased.

NOTICE is hereby given that all persons having
any claim or demand against or interest in the
above Estate should send same duly certified
in writing to the undersigned on or before 29th
November, 2010 after which date the Executor

will proceed to distribute the assets of the Estate
having regard only to the claims, demands or
interests of which he shall then have had notice
AND all persons indebted to the above Estate
are asked to settle such debts on or before 29th
November, 2010.

FREDERIK F. GOTTLIEB & CO.
Attorneys for the Executor
P.O. Box AB-20405
Bay Street, Marsh Harbour
Abaco, The Bahamas





Dear wealth manager, are
you motivated by budgets,
sales targets and discre-
tionary bonuses? If so, EFG
Bank & Trust (Bahamas) Ltd
is probably not the wealth
manager for you.

The essence of wealth management is rela-

tionships; we create the conditions for them to

flourish. Our wealth managers serve clients as

they see fit, free from budgets, sales targets and

arbitrary remuneration. Treated as professionals,

they are empowered to run a business and re-

warded on their profit contribution. Appealing?
At EFG, we're looking for a different kind of
wealth manager: a client-centred entrepreneur.

Fans of internal bureaucracy need not apply.

Practitioners of the craft of wealth management

EFG Q Bank & Trust (Bahamas) Ltd

We are currently looking for four wealth managers. If you are interested in joining
us, please get in touch with Steve Mackey, CEO, EFG Caribbean * T 1 242 502 5400 +
F 1242 502 5487 + steve.mackey@efgbank.com

EFG Bank & Trust (Bahamas) Ltd is part of EFG International, which operates in
over 50 locations in 30 countries * www.efginternational.com

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

FRIDAY, OCTOBER 29, 2010, PAGE 7B



=
Cable urges 46% fall in
BIC data entry costs

FROM page 1B

cially if its System Resource
Group (SRG) acquisition goes
through), because they would
find it impossible to replicate a
competing service to BTC,
especially if the latter charged
other operators an intercon-
nection tariff, Cable Bahamas
urged URCA to mandate
“zero-based interconnect rates
for local termination”.

These, it added, should be
maintained until BTC proved
its local fixed-line voice tariffs
were “cost-based and not
predatory”. Cable Bahamas
said: “In order to allow other
licensed operators (OLOs) to
replicate BTC’s local voice ser-
vice offering, URCA should
require that, until such time as
BTC proves that its local voice
tariffs are not predatory, BTC’s
rates for local call termination
must be set at, or close to,
zero.”

Elsewhere, Cable Bahamas
said it was “essential” for
URCA to determine whether
BTC’s cellular services would
be priced according to whether
the caller or receiver pays prior
to approving the state-owned
incumbent’s RAIO. Without
this, the BISX-listed operator
said it would be impossible to
determine whether the RAIO,
and fixed-line to cellular inter-
connection rates, were “rea-
sonable and not anti-competi-
tive”.

Calling for BTC to establish
a direct point of interconnec-
tion with its cellular network,
Cable Bahamas also expressed
concern that requiring other

RBC
FINCO

operators to be routed via a
transit service “would allow
BTC to anti-competitively
increase its rivals’ costs and,
potentially, to degrade another
licensed operator’s service qual-
ity”.

And Cable Bahamas also
described as “unacceptable”
BTC’s plans to provide only
two interconnection points with
its network, one in New Provi-
dence and the other in Grand
Bahama. Railing against BTC’s
proposal to charge national
interconnection rates for islands
where there was no point of
interconnection, Cable
Bahamas urged that these be
provided - for fixed-line and
cellular traffic - in Abaco and
Eleuthera as well.

“For example, in the case of
local calls in Eleuthera or Aba-
co from a Cable Bahamas sub-
scriber to a BTC subscriber,
Cable Bahamas would have to
convey traffic to BTC’s point
of interconnection in New
Providence or Grand Bahama,
and then BTC would have to
convey the traffic back to
Eleuthera/Abaco to terminate
the call,” Cable Bahamas
alleged.

“In such a configuration,
Cable Bahamas would have to
support the cost of carrying the
traffic on its network up to
BTC’s point of interconnection
in New Providence or Grand
Bahama, and pay for a nation-
al, inter-island, interconnect
rate.”

It also called on URCA to
mandate that BTC provide IP
(Internet Protocol) intercon-
nection on New Providence,
Grand Bahama, Abaco and

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising Lot #4,
Coral Heights Subdivision, situated in the Western District of
New Providence one of the islands of the Commonwealth of the
Bahamas. Situated thereon is an undeveloped property.

Property Size: 8,800 sq. ft

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 1851”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot Hanna
Road off Fox Hill, situated in the Eastern District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an undeveloped property.

Property Size: 10,400 sq. ft

Eleuthera within three months
after the latter’s Next Genera-
tion Network (NGN) was
deployed on those islands.
Then, with one eye on its
plans to enter the fixed-line
voice market and the SRG inte-








RBC
FINCO

gration, Cable Bahamas
renewed its calls for URCA to
prioritise an industry consulta-
tion on number portability,
arguing that this was a key bar-
rier to competition in the sec-
tor.

NOTICE
RBC FINCO INVITES TENDERS






RBC FINCO invites tenders for the purchase of the following:




“All THAT” piece parcel or lot of land comprising of Lot #3321/
22, Sir Lynden Pindling Estates, situated in the Southern District
of New Providence one of the islands of the Commonwealth of the
Bahamas. Situated thereon is an undeveloped property.







Property Size: 6,000 sq. ft.




This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS






LIMITED.

“Without some form of num-
ber portability in place, the
development of competition in
the voice market will be seri-
ously impeded because con-
sumers will find the inability to
port their numbers a major bar-
rier to switching providers,”
Cable Bahamas argued.

Calling on URCA to deter-
mine “interim arrangements for
all licencees offering fixed-line
voice services at the earliest
technically feasible date”, Cable

Bahamas added: “In light of
BTC’s near monopoly in the
provision of fixed telephony
services, its cooperation will be
essential to achieving the effi-
cient roll-out of an interim local
number portability solution.......

“URCA should further make
clear that adoption of local
number portability is a first step
towards implementation, at a
later date, of geographic num-
ber portability.”

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #1033,
Rosewood Street, Pinewood Gardens, Situate in the Southern
District of the Island of New Providence one of Residence
consisting of 2 Bedrooms and 2 Bathrooms.

Property Size: 5,000 sq. ft.
Building Size: 800 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.










All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 0567”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 1033”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

RBC
FINCO FINCO
NOTICE
RBC FINCO INVITES TENDERS

NOTICE
RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the following: RBC FINCO invites tenders for the purchase of the following:
“All THAT” piece parcel or lot of land comprising of Lot #57,
Lake Cunningham Subdivision, situated in the Western District of
New Providence one of the islands of the Commonwealth of the

Bahamas. Situated thereon is a Single Family Resedence consisitng
of 4 Bedrooms and 4 1/2 Bathrooms.

“All THAT” piece parcel or lot of land comprising of Lot Hanna
Road off Fox Hill, situated in the Eastern District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon 1s an undeveloped property.

Property Size: 10,400 sq. ft

Property Size: 13,000 sq. ft.
This property is being sold under Power of Sale contained in a Building Size: 3,880 sq. ft.
Mortgage to FINANCE CORPORATION OF BAHAMAS
LIMITED. This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

All offers should be forwarded in writing in sealed envelope, LIMITED.

addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday
29" October, 2010.

RBC

FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot D, Sidney
Carroll’s Road situated in the Western District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an unfinished Single Family Residence consisting of 3

Bedrooms and 2 Bedrooms.

FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising Lot C, Gladstone
Allotment #2, situated in the Western District of New Providence
one of the islands of the Commonwealth of the Bahamas. Situated
thereon is an undeveloped property.

Property Size: 9,389 sq. ft.

Property Size: 5,531 sq. ft.
This property is being sold under Power of Sale contained in a Building Size: 1,136 sq. ft.
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS
This property is being sold under Power of Sale contained in a LIMITED.

Mortgage to FINANCE CORPORATION OF BAHAMAS

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 2605”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #320,
Yamacraw Beach Estates, Situate in the Eastern District of the
Island of New Providence one of the islands of the Commonwealth
of the Bahamas. Situated thereon is a Multi Family Residence
consisting of 2 Units: a) 3 Bedrooms and 2 Bathrooms and b) 1

Bedroom and 1 Bathroom.

Property Size: 7,650 sq. ft.
Building Size: 2,255 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3358”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 3155”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #5,
Leviticus Adderley Estates, Situate in the Western District of the
Island of New Providence one of the islands of the Commonwealth
of the Bahamas. Situated thereon is a single Family Residence
consisting of 3 Bedroom and 2 Bathrooms.

Property Size: 5,000 sq. ft.
Building Size: 1,190 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3717”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked ““Tender 3166”. All
offers must be recetved by the close of business 4:00 p.m., Friday

29" October, 2010.

RBC
FINCO

NOTICE
RBC FINCO INVITES TENDERS

RBC FINCO invites tenders for the purchase of the following:

“All THAT” piece parcel or lot of land comprising of Lot #6,
Marshall Road, situated in the South District of New Providence
on of the islands of the Commonwealth of the Bahamas. Situated
thereon is a Multi Family Residence Duplex consisting of 2-2

Bedrooms and 1 Bedrooms.

Property Size: 5,000 sq. ft.
Building Size: 1,563 sq. ft.

This property is being sold under Power of Sale contained in a
Mortgage to FINANCE CORPORATION OF BAHAMAS

LIMITED.

All offers should be forwarded in writing in sealed envelope,
addressed to the Manager, Royal Bank Collections Centre, P.O.
Box N-7549, Nassau, Bahamas and marked “Tender 9539”. All
offers must be received by the close of business 4:00 p.m., Friday

29" October, 2010.



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8B, FRIDAY, OCTOBER 29, 2010

THE TRIBUNE



Holiday Shopping Notebook: Online sales to gleam

De Ta eee USS Bs aly UA NY: any

OWNS
a

NEW YORK

Retailers at the mall may be
bracing for a tough holiday sea-
son, but their online counter-
parts are feeling more opti-
mistic.

Nearly two-thirds of retail-
ers, or 64 percent, expect their
companies’ online revenue to
increase by at least 15 percent
compared with last year,
according to a survey by the
National Retail Federation's
Shop.org online arm. That's up
from 45.8 percent that expected
an increase that size last year.

The survey, based on inter-
views with 51 top online retail-
ers Sept. 1-Sept. 27, also found
that e-commerce companies are
thinking early when it comes
to Christmas marketing. Forty
percent of online retailers will
begin holiday marketing by
Halloween, with another 40
percent planning to begin the
week of Nov. 1.

Still, despite solid sales
prospects, merchants are not
going to dump some of the
Web's most alluring incentives,
particularly free shipping.

Four out of the five online
retailers said they'll offer free
shipping at some point during
the season, and nearly one-third























Kohl’s store in Paramus, N.J.



said these offers will begin ear-
lier this year than a year ago.
Shoppers might even see more
free shipping deals this year as
almost 37 percent said their
budget for free shipping is high-
er than last year; 57 percent
said it would be about the same
while 6 percent said it would



(AP Photo/Seth Wenig, file )
HOLIDAY CAMPAIGN: In this Feb.
24, 2010 file photo, shoppers exit a

NEW YORK

Halloween hasn't even passed, but stores
already are hoping the words "Black Friday"
can work their sales magic.

Retailers are offering an array of discounts,
often touted as deals for an early Black Fri-
day, the day after Thanksgiving that's one of
the biggest shopping days of the year. They're
designed to get people spending early in hopes
of a selling season that's better than last year's,
when consumers were still spending sparsely
on non-necessities during the recession.

Toys R Us' annual 80-page holiday toy cat-
alog is set to arrive at customers' homes on
Sunday, and many items will be on sale
through Nov. 24, the company said. The toy
seller is offering a $10 gift card for spending
$75 or more and other incentives.

Kohl's Corp. is unveiling a holiday cam-
paign touting its savings programs. "Give,



save and save again with the Kohl's charge,”
one ad reads. The department store operator
will offer extended hours during the holiday
season and offer shoppers $10 in store credit
for purchases of $50 or more.

Sears plans to offer weekly early morning
sales, offered on Black Friday, beginning Fri-
day and continuing every Friday and Saturday
through Nov. 20. The department store oper-
ator is also planning two-day sales during the
season. Deals for this Friday include $70 off a
RCA 40-inch LCD TV that retails for $569.99
and $39.99 Covington women's boots for
$19.99. Sears offered similarly pitched dis-
counts on holiday items early last year; this
year it expanded the sale to two days per
week. And online merchant Amazon.com is
also offering what it is calling "Black Friday"
deals beginning on Friday, on electronics such
as Blu-ray players, HDTVs, video games and
other products.



China lays claim to fastest
Supercomputer title

BENING

A leading Chinese research
center has built the world's
fastest supercomputer, under-
scoring the country's rise as a
science and technology power-
house.

The Tianhe-1 machine
housed at the National Center
for Supercomputing in the
northern port city of Tianjin is
capable of sustained comput-
ing of 2.507 petaflops, the
equivalent of 2,507 trillion cal-
culations, per second.

An official listing of the
world's fastest supercomputers,
the semiannual TOP500, is due
to be issued Friday.

If verified, Tianhe-1 would
be faster than the U.S. Depart-
ment of Energy's Cray XT5
Jaguar in Oak Ridge, Ten-
nessee, which topped the list
issued in June at 1.75 petaflops
per second.

be somewhat lower. Forecasts
for online holiday sales are just
trickling in. But online research
firm comScore Inc. expects any-
where from 7 to 9 percent
growth this holiday season com-
pared with a year ago, when
business was up 4 percent over
the previous year, according to

its calculations. Forrester
Research is slated to come out
with its forecast in the next
week or two.

In comparison, many econ-
omists and other groups expect
holiday sales for physical stores
to be up no more than 3 per-
cent.




NOTICE

PARGO CORP. LIMITED
NOTIC EIS HEREBY GIVEN as follows:
(a) PARGO CORP. LIMITED is in voluntary

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










GN 1124

MINISTRY OF LABOUR & SOCIAL DEVELOPMENT
THE PRICE CONTROL ACT, 1971
CHAPTER 339
THE PRICE CONTROL
(GASOLINE & DIESEL OIL)

(AMENDMENT)

REGULATIONS, 2002

The Public is agvised that prices as shown in he Schedule lor DIESEL OIL sold by Freeport
Oil Company Limited will become elfeclive on Wednesday October 27", 2070

Freeport Oil Company

Limified

SCHEDULE

MAXIMUM WHOLESALE SELLING PRICE

____ PERU.S. GALLON

| MAXIMUM
| SUPPLIERS’ PRICE

5

INCLUDING

| DIESEL OIL

| MAXIMUM RETAIL
| SELLING PRICE
MAXIMUM | PER U.S. GALLON
DISTRIBUTORS
PRICE
§ |

BEA FREIGHT

The Public is actveed that prices as shown in the Schedule fer Diesel Ord aa sold by Sun OF] Lirdted and Lead
Sandard $A. Limiied

Pece andl Diese] OM) aa acl be Ena

Thensday, October 28%, 2910 respectively.

wall become effective on Wednesday, October £7¢th, 2010 and

BCHEDULE

FF
FREIGHT

[INCLUDING SEA

4.85
4.06

ra

INCLUDING ELA FREIGHT

4.04

4.78

HOT ([MNCLUDING EEA FREIGHT

HOT INCLUDING SEA FREIGHT

PERMANENT SECRETARY

Act 2000.



The dissolution of the said company
commenced on the 27th October, 2010 when

the Articles of Dissolution were submitted to
and registered by the Registrar General.

The Liquidator of the said company is Blue
Seas Administration Ltd., The Bahamas
Financial Centre, Shirley & Charlotte Streets,

Nassau, Bahamas

Dated this 29th day of October, A. D. 2010



Blue Seas Administration Ltd.
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
GLENSIDE DEVELOPMENTS LIMITED

In Voluntary Liquidation

Notice

is hereby given. that

in accordance

with Section 138 of the International Business
Companies Act No. 45 of 2000, GLENSIDE
DEVELOPMENTS LIMITED, has been dissolved
and struck off the Register according to the
Certificate of Dissolution issued by the Registrar
General on the 6th day of October, 2010.

Jeanice Lam
of 2202 Bonham Trade Centre,
50 Bonham Strand,
Hong Kong
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
GOLDEN CREST INTERNATIONAL LIMITED

In Voluntary Liquidation

Notice

is hereby given. that

in accordance

with Section 138 of the International Business
Companies Act No. 45 of 2000, GOLDEN CREST
INTERNATIONAL LIMITED, has been dissolved
and struck off the Register according to the
Certificate of Dissolution issued by the Registrar
General on the 6th day of October, 2010.

Jeanice Lam
of 2202 Bonham Trade Centre,
50 Bonham Strand,
Hong Kong
Liquidator

Legal Notice

INTERNATIONAL BUSINESS COMPANIES ACT
(No.45 of 2000)
PARFINA INVESTORS GROUP INC.

In Voluntary Liquidation

“Notice is hereby given that in accordance with Section
137 (4) of the International Business Companies Act
(No. 45 of 2000). PARFINA INVESTORS GROUP INC.,

is in Dissolution.”

The date of commencement of dissolution is the 22nd

day of October, 2010.

Diligentia Ltd.
Trident Chambers
Road Town
Tortola
British Virgin Islands
Liquidator



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


THE TRIBUNE



ANGELA DOLAND,
Associated Press
PARIS

Strikes caused hassles for air
travelers in France on Thurs-
day, but nationwide street
protests over a plan to raise the
retirement age to 62 failed to
draw the massive crowds of
weeks’ past — a sign of slack-
ening resolve among the bill's
opponents.

Parliament has already
approved raising the retirement
age from 60 to 62, but union
leaders insist they will not give
up their fight until conservative
President Nicolas Sarkozy actu-
ally signs the bill. Still, fewer
protesters followed them into
the streets this time, and strikes
by train and oil workers have
been tapering off in recent days.

In Paris, demonstrators
waved union flags and set off
flares, while in southern Mar-
seille, they beat drums and blew
whistles. Past demonstrations
have drawn more than a mil-
lion protesters into the streets:
This time, the Interior Ministry
put the figure at 560,000 nation-
wide. The hard-line CGT union
contested that number, putting
turnout at 2 million.

"It's true you could say the
anti-reform movement is slow-
ing down, but you need to ask
why,” Serba Germain, a 67-
year-old retired police officer
marching in Marseille, told
Associated Press Television
News. "People are disappoint-
ed, they are frustrated" because
the government hasn't listened.

Unions and opposition par-
ties urged Sarkozy not to sign
the law, which polls show is
unpopular. He is expected to
do so by mid-November, after it
is cleared by France's constitu-

= aes



(AP Photo/Claude Paris)

STILL PROTESTING: Aerial view of oil tankers and other vessels waiting
off the coasts of Marseille where oil terminals are blocked by striking work-

ers, Tuesday, Oct. 26, 2010.

tional watchdog. Socialist
leader Martine Aubry urged
Sarkozy to listen to the people.
"We will fight until the end,”
she said. But Sarkozy has
refused to back down, even
amid two weeks of strikes that
canceled trains, shut down oil
refineries and left drivers strug-
gling to find gasoline.

A small number of trains
were canceled Thursday, but
the problem was bigger for air-
lines. A third of flights at Paris’
Charles de Gaulle airport and

half of those at the city's small-
er Orly were canceled. Flights
were expected to run as nor-
mal Friday. Though the strikes
are tapering off, the fuel short-
ages they caused lingered
because of refinery strikes.
Some 85 percent of gas stations
are now open, the government
said Thursday night, but added
that the Paris region and central
France continued to face some
difficulties. Seven of the
nation's 12 refineries have vot-
ed to return to work.

FRIDAY, OCTOBER 29, 2010, PAGE 11B

French protests weaken

but still disrupt flights

A look at economic developments and activi-
ty in major stock markets around the world
Thursday:

LONDON — World stock markets mostly
rose as traders put aside uncertainty about the
size of the Federal Reserve's economy-boosting
bond purchase plan to sort through a raft of
earnings reports. Britain's FTSE 100 index was
up 1 percent at 5,699.84 and Germany's DAX
was up 0.9 percent at 6,626.35. France's CAC-40
was 1.1 percent higher at 3,857.79. Earlier in
Asia, Japan's benchmark Nikkei 225 stock index
closed down 0.2 percent to 9,366.03.

BRUSSELS — Germany and France sought
to convince skeptical EU partners to back new
rules on state spending, which they say are
needed to prevent another government debt
crisis in Europe.

German Chancellor Angela Merkel and
French President Nicolas Sarkozy arrived at a
two-day EU summit in Brussels seeking a per-
manent crisis resolution mechanism, which
would force private creditors to bear some of
the cost of bailing out a highly indebted country.

They also called for stripping EU voting rights
from repeat overspenders — a radical measure
that some say will not pass.

DUBLIN — The interest rate on Ireland's
national debt reached a new euro-era high as
investors sold off Irish bonds on skepticism that
the country can meet a European Union dead-
line for reversing its deficits.

The yield on Ireland's 10-year bonds rose
above 7 percent for the first time since the
euro's launch 11 years ago. That broke a previ-
ous high of 6.9 percent reached last month as
doubts swelled over Ireland's ability to tame
its deficit, which is forecast this year to reach 32
percent of GDP, a modern European record.

BERLIN — The number of Germans out of
work sank below 3 million in October for the
first time in two years, a sign of the country's
resilient labor market.

The unadjusted jobless rate sank to 7 per-
cent in October from 7.2 percent in Septem-
ber, with 2.945 million people out of work, the
Federal Labor Agency said. That was down
86,000 from September, a drop the agency cred-
ited both to a traditional seasonal improvement
and economic recovery.

ASSOCIATED PRESS

ATHENS, Greece — Contract workers at
Greece's Culture Ministry have staged another
protest at the ancient Acropolis, in an effort to
press the government to extend their short-
term work agreements.

PARIS — More nationwide street protests
and strikes caused travel woes even though par-
liament has already approved President Nicolas
Sarkozy's unpopular plan to raise the retire-
ment age.

LONDON — A major British mortgage
lender says that average house prices fell 0.7
percent in October, continuing a modest down-
turn since the start of the summer.

BEIJING — China's leaders are promising to
narrow its huge trade surplus and curb surging
emissions of climate-changing greenhouse gas-
es in an ambitious five-year plan to make its
economy cleaner and more high-tech.

The Communist Party plan also promises to
encourage consumer spending to reduce
reliance on exports to power growth. The plan
was approved last week by party leaders.

TOKYO — Japan's central bank cut its eco-
nomic growth forecasts and kept interest rates
near zero, as the export-reliant nation confronts
a strong yen and waning overseas demand.

In its October outlook report, the Bank of
Japan forecast the world's No. 3 economy to
grow 2.1 percent in the year through March
2011 and 1.8 percent the following year. Its July
assessment projected growth of 2.6 percent and
1.9 percent respectively.

BEING — China said it will not use exports
of rare earths, exotic minerals required by high-
tech industry, as a diplomatic "bargaining tool"
while Washington pressed Beijing to clarify its
policy following its de facto ban on supplies to
Japan.

SHANGHAI — China and the European
Union have agreed to pursue jointly financed
research focused on sharing and developing
technologies for cleaner, less polluting and safer
aircraft.



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


THE TRIBUNE



DRIVE: Blue Flames’ Enrique Forbes drives to the basket in front of the

Crushers’ Michael Brennen.



PAGE 12

or

FRIDAY, OCTOBER 29,

PAGES 13 & 14 ¢ International sports news



LAYUP: Our Lady’s Blue Flames player drives to the basket.



BALL HANDLER: Crushers’ Makarios Russell in action.

BASKETBALL
EDDIE RAHMING
TOURNEY

DAY three (Wednesday) of the
Deacon Eddie 'Marker' Rahming
Basketball Tournament was played
at Freedom Park in Fox Hill.

In the opener, a continuation of a
game that started Tuesday night, the
New Breed Warriors knocked off
the Galilee Academy Crusaders 33-
27. Patrick Brice finished with 14
and Dino Flowers had 12 in the win.
Bradshawn White had nine and
Jeremy Neely five in the loss.

The second game saw the Winton
Stars pound the Galilee Academy
Crusaders No.2 44-34. Dejan Smith
scored 18 and Charles Walker had
14 in the win. Demetrius Forbes
scored 12 and Savant Laing added 11
in the loss.

In the feature contest, host St
Paul's Baptist held off New Dimen-
sion 29-26. McClain Higgs scored
nine and Tunde Davis chipped in
with seven in the win. Donovan
Rolle had eight and Gregory Lock-
hart six in the loss.

t

2010










National
Football
League Picks:

Week &...
See page 14

Payback time!

By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net

t was payback time

for Our Lady’s Blue

Flames yesterday as

they avenged their

sweep by the St
Bede’s Crushers in the
Catholic Diocesan Primary
Schools basketball champi-
onships.

In a game that was delayed
Wednesday because of rain,
the Blue Flames routed the
Crushers 23-9 to hand the
defending champions St
Bede’s their first loss in two
games.

It was Our Lady’s third win
in four games, but coach
Rohan Parks is already look-
ing past the regular season
and has his team eying the
championship title this year.

“We had a rivalry going
from last year. They beat us
by one point in the first game
of the final before they won
the title in the second game,”
Parks painfully remembered.

“We have a fairly young
team this year, but it’s very
balanced. We just have to stay
mentally tough and once we
can establish our game
around our star player, any-
thing but the championship
would be a failure.”

With so many of the top
players graduated from the
league, Deangelo Mackey,
who quietly assumes the role
as the leading player this year,
ignited the Blue Flames with
a game-high 15 points.

Although he single-hand-
edly did the damage against
St Bede’s on their home turf,
Lucentre Paul chipped in with
two points.

The Crushers, who haven’t
played since they won the sea-
son opener against the St
Thomas More Sparks on
October 18, got five from
Makarios Russell to lead a
balanced scoring attack.

“We practiced almost every
day, but what we practiced,
the guys didn’t come out here
and executed,” said coach
Ricardo Freemantle, who
works along with Donnie Cul-
mer.

“T think if we had passed
the ball a little more, rather
than hogging it, we would
have played a lot better than
we did. But we had some guys
who played well and some
who didn’t.”

Despite not having played a
game in over a week, Free-
mantle said it shouldn’t be
any excuse because “we prac-
ticed.”

“We just didn’t execute
what we did in practice,” he
added.

Last year with the go-to-
man in Kyle ‘Flash’ Turn-
quest, the Crushers always
found a way to rally from a
deficit.

This year, they don’t have

Blue Flames avenge sweep
with rout of Crushers

that leader who can take over
a game.

That was what Deangelo
Mackey did for Our Lady’s.

The Blue Flames opened a
3-0 lead and they were able
to hold on for a 6-3 advan-
tage as Mackey paced the way
with four points, including 2-
of-4 free throws.

It turned out to be a defen-
sive battle in the second quar-
ter as both teams held the
other scoreless, despite the
fact that they both had
numerous opportunities to
score.

But to start the third, it was
Deangelo Mackey, who once
again came up big. He opened
up with a lay-up and Our
Lady’s went on a another 6-3
spurt to post a 12-6 margin at
the half, thanks to two con-
secutive jumpers from Paul.

Just like he did in the third,
Mackey opened the fourth on
a jumper and Enrique Forbes
added another to extend their
lead to 16-6.

= goer
wis enalen



Photos by Felipé Major/Tribune staff



BLOCK: Crushers’ Stevejay Whylly gets a block.

St Bede’s got on the score-
board in the quarter on
Michael Brennen’s jumper for
a 16-8 deficit. But that was
the closest they came the rest
of the way.

Mackey was unstoppable
down the stretch as he did just
about everything it took to
win - rebound, pass and score
- as Our Lady’s celebrated at
St Bede’s.





PORTS
Witty



TRACK
REV SMITH
MEET

THE Baptist Sports Council is
scheduled to hold its 2010 Rev Eller-
ston Smith Track and Field Classic
on Saturday at the Thomas A
Robinson Track and Field Stadium.
The meet is expected to have an offi-
cial opening ceremony at 9:30am and
the first event is slated to begin at
10am.

The meet has been sanctioned by
the Bahamas Association of Athlet-
ic Associations (BAAA) and the
Bahamas Association of Certified
Officials will officiate.

Competitors from at least 10 dif-
ferent churches and the two Baptist
schools - Jordan Prince Williams and
Charles W Saunders - are expected
to participate in the under-7, under-
9, under-11, under-13, under-15,
under-17 and open male and female
divisions.

There is also expected to be a race
for the pastors and ministers.

VOLLEYBALL
NPVA RESULTS

ON Wednesday night at the D W
Davis Gymnasium, the Scottsdale
Vixens took to the court and defeat-
ed the Lady Techs in three straight
sets 25-23, 25-20 and 25-18. Anishka
Rolle led the Vixens with seven
points in the win. In a losing effort,
Rochell Henfield scored six for the
Techs.

In men’s action, Tony Simon’s
game-high 18 points led the Scotia
Defenders over the Saints in four
sets 25-20, 25-18, 27-29 and 25-16.
Chauncey Cooper finished with a
side high 15 points for the Saints.
The league is scheduled to continue

tonight with another double header
set for 7pm.

NEWS
NEW RADIO
STATION OPENING

AFTER much anticipation, the
Grand Opening Tailgate Party of
Sports Radio 103 will be held at
noon until on Saturday at the Dew-
gard Plaza, Palmdale.

The station will feature such per-
sonalities as Marcellus Hall, Denaz
Jones, Jean ‘Bubbles’ Minus and
Ivan ‘Showtime’ Francis as they
broadcast sports on a 24- hour basis.

SOFTBALL
EXUMA SOFTBALL
ACTION

THE Exuma Church League is
expected to continue its softball
action Saturday with the following
games on tap:

6pm — Church of God Ferry vs
Soul Winners

7pm —Mt Carmel vs St Margaret's
Stuart Manor

8pm — St Peter’s vs Church of God
of Prophecy

9pm — Gilead Full Gospel vs
Palestine Baptist

CAFL FOOTBALL

THIS weekend’s Commonwealth
American Football League sched-
ule is expected to feature a matchup
of undefeated teams with the V8
Fusion Stingrays taking on the Jets,
while the Orry J Sands Pros are all
set to face the Sunburners.

BOWLING

CONSIDERED a fringe sport,
bowling looks to raise its profile in
the capital now that the proper facil-
ities exist. Mario’s Bowling and
Entertainment Palace seeks to part-
ner with schools throughout the
country.

So far, Garvin Tynes Primary has
been the lone school to take advan-
tage of the programme and has
brought dozens of young new play-
ers to the game who previously did
not have the opportunity.

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PAGE 1

N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 106 No.283FRIDAY, OCTOBER 29, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY, T-STORM HIGH 86F LOW 73F B U S I N E S S S EEBUSINESSFRONTPAGE Robin Hoods $30-$40m growth plan By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net THE Cancer Society of the Bahamas issued an urgent warn ing to all potential donors last night after it was discovered that unauthorised persons might be representing the organization, and fraudulently collecting money. This type of fraud was said to be a serious problem for the not-for-profit organization because the society relies heavi ly on donations to support its numerous initiatives. The warning sought to inform the public on how to properly identify an approved representative after a woman was caught over the weekend soliciting funds outside a local supermarket. Sources close to the matter admitted there is no way of con firming exactly how long the woman had been accepting mon ey on behalf of the organization without authorization. The woman was discovered on Sat urday when the wife of an affiliate of the organization donated money. Using the pink ribbon that represents breast cancer, the woman allegedly told shoppers and passersby that she was collecting funds on behalf of the cancer society. After discussing her donation with her husband, it was revealed that the solicitor had not received permission from the cancer society. Tammy Sands, administrator, said: We are non-profit and we rely on the general public to donate to us, so when you have people out there soliciting funds on our behalf and were not actually benefitting from that its a serious problem, whether your intentions are good or bad. The woman reportedly returned funds to the society on Monday, and the matter is being resolved internally. However, the organization decided not to reveal the amount that had been returned, as it hoped not to discourage future donors. In a press statement yester day, President Earle Bethell The Tribune THEPEOPLESPAPER BIGGESTANDBEST BAHAMASEDITION McCOMBO OF THE DAY N E W www.tribune242.com SEESTORYONPAGEFIVE ZNS accused of re-hiring terminated staff Fraudster hits cancer charity Organisers issue alert By PAUL G TURNQUEST Tribune Staff Reporter pturnquest@tribunemedia.net FORMER MP for South Andros, Whitney Bastian, confirmed with The Tribune last night that he intends to run as an Independent in the next general election and regain his seat in the House of Assembly. Lambasting the areas current MP Picewell Forbes, Mr Bastian claimed that Mr Forbes is not representing the people in the area. Mr Bastian says Mr Forbes is losing significant support in the Mangrove Cay area, and if the South Andros seat is cut the way he thinks it will be, he will win the seat hands down. When you look at it, everytime a PLP MP gets up to speak, Picewell is sitting behind them. He is the only floating MP in the House, said Mr Bastian. Claiming to have more support in the area now than he even had when he was elected to Parliament in 2002, Mr Bastian added that Mr Forbes cannot continue to cry poor mouth when it comes to being able to at least visit his people. WHITNEY BASTIAN SET TO RUN AS INDEPENDENT INVESTIGATIONS con tinue into two separate shooting incidents involving police on Wednesday. In one incident, a man was shot by police in the Montagu foreshore area. Police were reportedly conducting a routine road block on East Bay Street near the Nassau Yacht Club at about 10am when they opened fire on an occupant of a grey coloured Nissan Sunny who was reportedly armed with a handgun. Witnesses said the man had got out of the car and drawn a 9mm pistol. According to police reports, the man had pointed the gun in the direction of police, who opened fire in response. The man was wounded and taken to hospital. According to police press liaison officer Sgt Chrislyn Skippings, he is in stable condition. A second man, who was shot by police on Wednesday, is also listed in stable condition, according to Sgt Skippings. He had reportedly been arrested with two others for allegedly having an unlicensed firearm and stolen goods. The man was reportedly shot in the buttocks and leg as he fled from the East Street South Police Station while being escorted to a waiting car to be taken to Central Detective Unit headquarters. INVESTIGATIONS INT O T WO POLICE SHOOTINGS By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net AN EXUMA activist has criticised the Bahamas National Trust for not opposing dredging and excavation at Bell Island in the Exuma Cays Land and Sea Park as he calls for devel opment in all national parks to be banned. Terry Bain, spokesman for Save The Exuma Park (STEP committee, is outraged at the granting of permission to dredge and excavate more than 13 acres of land and seabed around Bell Island in the Exuma park and the apparent compliance of the Bahamas National Trust (BNT Mr Bain spoke out on behalf of STEPs 180 members at a public meeting called by the BNT in Great Exuma last Thursday to discuss the Bell Island development with memSEE page eight SEE page eight Call for ban on development in national parks SEE page 15 B AHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E ABOVE: Downtown Nassau was full of activity last night as Breitling launched their new watch collection and made a landmark presentation on the history of Bahamian aviation. LEFT: Jerome Gray, a level II Breitling watchmaker, keeps a steady hand as he works on a watch at the Breitling store. KEEPINGAWATCHONBAYSTREET F e l i p M a j o r / T r i b u n e s t a f f C M Y K C M Y K S E C T I O N B b u s i n e s s @ t r i b u n e m e d i a n e t F R I D A Y O C T O B E R 2 9 2 0 1 0 T H E T R I B U N E $ 4 .6 8$ 4 .5 1$ 4 .6 9T h e i n f o r m a t i o n c o n t a i n e d i s f r o m a t h i r d p a r t y a n d T h e T r i b u n e c a n n o t b e h e l d r e s p o n s i b l e f o r e r r o r s a n d / o r o m i s s i o n f r o m t h e d a i l y r e p o r t $ 4 2 5 $ 4 2 0 $ 4 2 6 w o r r y f r e eg r o u p p e n s i o n s s o u n d i n v e s t m e n t m a n a g e m e n t i n d e p e n d e n t c o r p o r a t e t r u s t e e o v e r s i g h t i n d e p e n d e n t c o r p o r a t e c u s t o d i a n d i v e r s i e d i n v e s t m e n t p o r t f o l i oa l l o f t h e a b o v ec a l l u s t o d a y a t 3 9 6 4 0 8 0F A M I L Y G U A R D I A N C O R P O R A T E C E N T R E : A T T H E J U N C T I O N O F V I L L A G E R O A D S H I R L E Y S T R E E T & E A S T B A Y S T R E E T I w w w f a m g u a r d b a h a m a s c o m A S U B S I D I A R Y O F B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o rC a b l e B a h a m a s i s a r g u i n g t h a t t h e B a h a m a s T e l e c o m m u n i c a t i o n s C o m p a n y ( B T C ) s h o u l d r e d u c e t h e p e r d a t a e n t r y c h a r g e u n d e r i t s R e f e r e n c e A c c e s s I n t e r c o n n e c t i o n O f f e r ( R A I O ) b y a f u r t h e r 4 6 4 p e r c e n t f r o m $ 1 9 1 t o $ 1 0 2 a n d h a s c a l l e d o n t h e r e g u l a t o r s t o m a n d a t e z e r o b a s e d i n t e r c o n n e c t i o n r a t e s f o r l o c a l c a l l t e r m i n a t i o n R e s p o n d i n g t o t h e U t i l i t i e s R e g u l a t i o n & C o m p e t i t i o n A u t h o r i t y s ( U R C A ) p u b l i c c o n s u l t a t i o n o n B T C s d r a f t a c c e s s a n d i n t e r c o n n e c t i o n o f f e r t h e B I S X l i s t e d c o m m u n i c a t i o n s p r o v i d e r s a i d B T C s c o n s u m e r p r i c e s f o r l o c a l f i x e d l i n e v o i c e c a l l s a p p e a r t o b e s e t a t a l e v e l t h a t i s b e l o w c o s t a n d s u b j e c t t o f l a t r a t e p r i c i n g e v e n t h o u g h a s u b s t a n t i a l p o r t i o n o f t h e c o r r e s p o n d i n g c o s t s a r e t r a f f i c s e n s i t i v e A r g u i n g t h a t t h i s c o u l d a c t a s a n a n t i c o m p e t i t i v e b a r r i e r t o o t h e r t e l e c o m s o p e r a t o r s ( s u c h a s i t s e l f g i v e n t h a t C a b l e B a h a m a s i s e a g e r t o e n t e r t h e f i x e d l i n e v o i c e m a r k e t e s p e C a b l e u r g e s 4 6 % f a l l i n B T C d a t a e n t r y c o s t sS E E p a g e 7 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r T h e B a h a m a s T e l e c o m m u n i c a t i o n s C o m p a n y ( B T C ) h a s s l a m m e d a s f l a w e d t h e i n d u s t r y r e g u l a t o r s b e n c h m a r k s t u d y o f i t s t e r m i n a t i o n r a t e s a r g u i n g t h a t t h e c o n c l u s i o n s d r a w n o v e r i t s f i x e d l i n e v o i c e s e r v i c e s a r e i n v a l i d a t e d b e c a u s e n o n e o f t h e o t h e r j u r i s d i c t i o n s t u d i e d w e r e c o m p a r a b l e t o t h e B a h a m a s 4 2 i s l a n d a r c h i p e l a g o I n i t s r e s p o n s e t o t h e U t i l i t i e s R e g u l a t i o n & C o m p e t i t i o n A u t h o r i t y s ( U R C A ) c o n s u l t a t i o n o n i t s d r a f t R e f e r e n c e A c c e s s a n d I n t e r c o n n e c t i o n O f f e r ( R A I O ) t h e s t a t e o w n e d i n c u m b e n t w h i c h i s i n t h e m i d d l e o f a p r i v a t i s a t i o n e x e r c i s e a s t h e G o v e r n m e n t a n d i t s a p p o i n t e d c o m m i t t e e n e g o t i a t e w i t h C a b l e & W i r e l e s s s a i d i t w a s h i g h l y i n a p p r o p r i a t e t o c o m p a r e B T C s p r o p o s e d i n t r a i s l a n d t e r m i n a t i o n r a t e s w i t h t h o s e l e v i e d i n t h e j u r i s d i c t i o n s a m p l e s e l e c t e d T h e o t h e r t e r m i n a t i o n r a t e s r e p r e s e n t t a r i f f s f o r c a l l t e r m i n a t i o n o n a s i n g l e i s l a n d o r s m a l l g r o u p o f i s l a n d s B T C a r g u e d T h i s i s o b v i o u s l y n o t c o m p a r a b l e t o a s i t u a t i o n w h e r e c a l l t e r m i n a t i o n i s p r o v i d e d a c r o s s 4 2 i s l a n d s i n t h e B a h a m a s u s i n g a n e x t e n s i v e u n d e r s e a c a b l e n e t w o r k T h e v e r y f i r s t r e s p o n s i b i l i t y w h e n c o n d u c t i n g a b e n c h m a r k s t u d y i s t o e n s u r e t h a t s e r v i c e d e f i n i t i o n s f o r t h e p e e r g r o u p a r e c o m p a r a b l e a n d U R C A h a s f a i l e d i n t h i s i m p o r t a n t f i r s t s t e p T h i s i s s u c h a f l a w i n t h e c o m p a r i s o n t h a t i t i n v a l i d a t e s a n y c o n c l u s i o n s p r e l i m i n a r y o r o t h e r w i s e r e l a t i n g t o t h i s b e n c h m a r k s t u d y A s f o r i t s c e l l u l a r t e r m i n a t i o n r a t e s B T C s a i d t h e p r o p o s e d c h a r g e w a s l o w i n c o m p a r i s o n w i t h o t h e r r e g i o n a l r a t e s T h e B a h a m a s r a t e o f $ 0 0 7 2 4 p e r m i n u t e i t a d d e d w a s l o w e r t h a n t h e $ 0 0 7 4 6 c h a r g e d i n T r i n i d a d t h e $ 0 1 1 8 4 l e v i e d i n A n g u i l l a $ 0 1 4 4 1 i n t h e e a s t e r n C a r i b b e a n a n d t h e $ 0 2 2 5 1 c h a r g e d i n t h e C a y m a n I s l a n d s I t i s c l e a r f r o m t h e g r a p h t h a t B a h r a i n i s s u c h a n o u t l i e r c o m p a r e d w i t h C a r i b b e a n b e n c h m a r k s t h a t a m o r e r e a s o n a b l e c o n c l u s i o n w o u l d b e B T C s l a m s a f l a w e d U R C A s t u d y S t a t e o w n e d c a r r i e r s a y s c e l l u l a r c a l l t e r m i n a t i o n r a t e s 4 7 % b e l o w i n d u s t r y a v e r a g e S E E p a g e 5 B B y A L I S O N L O W E B u s i n e s s R e p o r t e r a l o w e @ t r i b u n e m e d i a n e t A m a j o r E x u m a d e v e l o p e r h a s s e e n a 2 0 p e r c e n t i n c r e a s e i n p r o p e r t y r e n t a l p r i c e s a n d a g o o d y e a r f o r s a l e s c r e d i t i n g t h e r e o p e n i n g b y S a n d a l s o f a n c h o r t e n a n t t h e E m e r a l d B a y p r o p e r t y f o r i m p r o v i n g b u s i n e s s c o n d i t i o n s R a n d y H a r t m a n a g i n g d i r e c t o r o f F e b r u a r y P o i n t a h i g h e n d b o u t i q u e r e s o r t c o m m u n i t y i n G r e a t E x u m a s a i d h e b e l i e v e s p a r t o f t h e i m p r o v e m e n t i n p r o s p e c t s f o l l o w i n g t h e d a r k a g e s w h e n t h e s k y w a s f a l l i n g d o w n e c o n o m i c a l l y d u e t o t h e c l o s u r e o f t h e E m e r a l d B a y p r o p e r t y w a s b e c a u s e h i s r e s o r t w a s a l r e a d y r e l a t i v e l y w e l l e s t a b l i s h e d i n c o m p a r i s o n t o o t h e r s i m i l a r d e v e l o p m e n t s H i s c o m m e n t s o n t h e i m p a c t S a n d a l s h a s h a d o n b u s i n e s s f o r F e b r u a r y P o i n t s t a n d i n c o n t r a s t t o t h o s e f r o m E x u m a C h a m b e r o f C o m m e r c e p r e s i d e n t F l o y d D e v e l o p e r s e e s 2 0 % r i s e i n r e n t a l p r i c e s S E E p a g e 4 B B y A L I S O N L O W E B u s i n e s s R e p o r t e r a l o w e @ t r i b u n e m e d i a n e t T h e C u s t o m s D e p a r t m e n t i s p r e p a r i n g t o d e m a n d t h a t n u m e r o u s B a h a m i a n a i r l i n e s a n d c h a r t e r o p e r a t o r s h a n d o v e r w h a t a m o u n t s t o m i l l i o n s o f d o l l a r s i n u n p a i d C u s t o m s a n d S t a m p d u t i e s a l l e g e d l y o w e d o n p r e v i o u s l y i m p o r t e d a i r c r a f t o r f a c e h a v i n g t h e i r a i r c r a f t s e i z e d G l e n G o m e z C o m p t r o l l e r o f C u s t o m s s a i d h i s d e p a r t m e n t s m o v e c o m e s a f t e r a n i n v e s t i g a t i o n l a s t i n g s e v e r a l w e e k s w h i c h c u l m i n a t e d i n t h e d i s c o v e r y t h a t a f a i r a m o u n t o f a l l B a h a m i a n o p e r a t o r s o w e t h e d e p a r t m e n t m o n e y f o r p l a n e s $ 7 0 0 0 0 0 i n t h e c a s e o f o n e u n n a m e d l o c a l a i r l i n e A i r c r a f t a r e d u t i a b l e a t 1 0 p e r c e n t n o t e d M r G o m e z w h o f u r t h e r r e v e a l e d t h a t t h e d e p a r t m e n t i s s t i l l d e t e r m i n i n g w h e t h e r a i r l i n e s a n d c h a r t e r o p e r a t o r s w i l l p a y a p e n a l t y o n t h e a l l e g e d l y o v e r d u e d u t y p o t e n t i a l l y a d d i n g t o t h e f i n a n c i a l b u r d e n R a n d y B u t l e r c h i e f e x e c u t i v e o f S k y B a h a m a s s a i d h e h a d b e e n i n f o r m e d b y a s e n i o r C u s t o m s o f f i c e r t h a t t h e d u t y w a s t o b e d e m a n d e d o f h i s c o m p a n y i n a r e c e n t m e e t i n g H e t o l d T r i b u n e B u s i n e s s i t i s l i k e l y t h a t s e v e r a l o p e r a t o r s m a y b e a s k e d t o p a y o u t s e v e r a l h u n d r e d t h o u s a n d d o l l a r s e a c h i f t h e d e p a r t m e n t g o e s a h e a d w i t h c o l l e c t i n g t h e d u t i e s T h e G o v e r n m e n t h a d o n t h e b o o k s t h i s 1 0 p e r c e n t S t a m p t a x o n p l a n e s c o m i n g i n t o t h e B a h a m a s b u t i t w a s n e v e r c o l l e c t e d N o w t h e y w a n t t o g o b a c k t o a l l t h e o n e s w h i c h h a v e b e e n h e r e f o r y e a r s s a i d M r B u t l e r w h o s u g g e s t e d i t w a s a n o v e r s i g h t o n t h e p a r t o f C u s t o m s A i r l i n e s g r o u n d e d b y C u s t o m s o v e r a i r c r a f t s u m s o w e d G L E N N G O M E Z D e p a r t m e n t s a y s o n e a i r l i n e o w e s $ 7 0 0 0 0 0 i n u n p a i d C u s t o m s a n d S t a m p d u t y o n i m p o r t e d p l a n e s O p e r a t o r s b e l i e v e d e m a n d f o r e x t r a t a x e s w i l l k i l l u s a l l S E E p a g e 4 B E X P A N D I N G : N e w R o b i n H o o d s h o p p i n g s t o r e a n d c e n t r e o n P r i n c e C h a r l e s D r i v e B y A L I S O N L O W E B u s i n e s s R e p o r t e r a l o w e @ t r i b u n e m e d i a n e t A c o m p a n y t h a t g r o c e r y i n d u s t r y s o u r c e s l a s t n i g h t s a i d w a s a f f i l i a t e d w i t h B a h a m a s F o o d S e r v i c e s a n d i t s p r i n c i p a l B e n F r i s c h h a s s i g n e d a p r e l i m i n a r y a g r e e m e n t t o p u r c h a s e t h e m a j o r i t y 7 8 p e r c e n t s t a k e i n C i t y M a r k e t s h e l d b y t h e B S L H o l d i n g s i n v e s t o r g r o u p i n a d e a l w h i c h i f i t g o e s t h r o u g h w i l l s h a k e u p t h e B a h a m i a n r e t a i l a n d w h o l e s a l e s e c t o r s D e r e k W i n f o r d C i t y M a r k e t s c h i e f e x e c u t i v e c o n f i r m e d i n a s t a t e m e n t y e s t e r d a y a f t e r n o o n t h a t a B a h a m i a n c o m p a n y A s s o c i a t e d G r o c e r s o f t h e B a h a m a s h a d s i g n e d a M e m o r a n d u m o f U n d e r s t a n d i n g ( M o U ) t o p u r c h a s e B S L H o l d i n g s 7 7 7 8 2 p e r c e n t i n t e r e s t i n t h e t r o u b l e d 1 1 s t o r e s u p e r m a r k e t c h a i n a d d i n g t h a t t h e b u y e r h a d t h e n e c e s s a r y t o o l s a n d r e s o u r c e s t o r e e n g i n e e r a n d r e v i t a l i s e B a h a m a s S u p e r m a r k e t s o p e r a t i o n s t o m a k e i t a v i a b l e c o m p e t i t i v e a n d p r o f i t a b l e c o m p a n y N o p u r c h a s e p r i c e w a s d i s c l o s e d ,B F S a f f i l i a t e b u y s m a j o r i t y C i t y M a r k e t s s h a r e h o l d i n g D e a l f o r u n d i s c l o s e d s u m s e t t o c l o s e b y N o v e m b e r 5 U n i o n f e e l s 7 0 0 j o b s s a f e w h a t e v e r h a p p e n s W h o l e s a l e r s p l a n s t o i n t e g r a t e r e t a i l e r l i k e l y t o s h a k e u p B a h a m i a n w h o l e s a l e / r e t a i l i n d u s t r y S E E p a g e 6 B B y N E I L H A R T N E L L T r i b u n e B u s i n e s s E d i t o r R o b i n H o o d s p r i n c i p a l y e s t e r d a y s a i d h e w a s l o o k i n g a t i n v e s t i n g a f u r t h e r $ 3 0 $ 4 0 m i l l i o n o v e r t h e n e x t f o u r y e a r s t o e x p a n d t h e r e t a i l e r s t o t a l B a h a m i a n s t o r e p o r t f o l i o f r o m t h e c u r r e n t t w o t o s i x a s h e p r e p a r e s t o s t a r t h i r i n g m o r e t h a n 1 0 0 p e r s o n s o v e r t h e n e x t f e w w e e k s f o r t h e 4 4 0 0 0 s q u a r e f o o t n e w P r i n c e C h a r l e s o u t l e t S a n d y S c h a e f e r i n a n i n t e r v i e w w i t h T r i b u n e B u s i n e s s t o l d T r i b u n e B u s i n e s s t h a t t h e e x p a n s i v e r e t a i l e r w a s l o o k i n g f o r a t h i r d R o b i n H o o d s i t e f o r n e x t y e a r w i t h i t s s e c o n d o u t l e t t h e c o n v e r t e d f o r m e r P e p s i C o l a m a n u f a c t u r i n g f a c i l i t y R o b i n H o o d s $ 3 0 $ 4 0 m g r o w t h p l a n nR e t a i l e r e y e i n g g r o w t h f r o m t w o t o s i x s t o r e s i n f o u r y e a r s w i t h e x p a n s i o n t o A b a c o a n d F r e e p o r tn H u n d r e d s o f j o b s t o b e c r e a t e d w i t h i n n e x t 1 0 m o n t h s w i t h h i r i n g f o r 1 0 0 p l u s a t R o b i n H o o d s e t t o b e g i n i n t h r e e w e e k snF i x t u r e s / f u r n i s h i n g s c o s t s d r o p b y 6 0 7 0 % a s r e s u l t o f r e c e s s i o nnF i f t y f i v e 6 5 c o n t r a c t o r s a n d t r a d e s m e n w o r k i n g t o r e a d y P r i n c e C h a r l e s s i t e f o r p r e C h r i s t m a s S E E p a g e 3 B I N S I D E REPORTS reached The Tri bune late last night of a triple shooting which resulted in the death of one man. The incident happened on Eden Street off Farrington Road in the Chippingham area. There were no further details up until presstime. See tomorrows Tribune for more infor mation on this story. REPORTS: MAN DIES IN TRIPLE SHOOTING

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EAGER public and private school students filed into the Kendal Isaacs Gymnasium this week for the third annual National Career Awareness Month fair. The event is a collaboration between the Ministry of Education, corporate sponsors and civic organisations. This year, the focus is on the technical and vocational trades, as well as entrepreneurship. The organising committee said they wanted to help young people identify the country's "evolving employment needs" and encourage them to compete on the global stage. Education Minister Desmond Bannister, who viewed the exhibition, said he is working to alleviate some of the challenges facing graduating students hoping to enter the work force. He told the students to pay careful attention to the information provided at the fair. The minister said the country needs young people who are creative and capable of responding to today's serious challenges. He said: "Utilise your wings and brain power to make choices that will make a difference in the Bahamas." C M Y K C M Y K LOCAL NEWS PAGE 2, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Centre for Digestive HealthWhat are you waiting for? Call for a Consultation 242.328.5550 I digestivehealthbahamas.com h e e d i d d i t . f o r r h e r if youre 40 to 100 pounds overweight and have tried cutting back, dieting even skipping meals, but still not losing the kind of weight you should, give us a call and learn about The Gastric Balloon treatment.This revolutionary outpatient procedure takes about 30 minutes to perform. It uses a flexible balloon that reduces your stomachs capacity, so you eat less … and finally lose that unwanted weight! Fair held for National Career Awareness Month ENCOURAGEMENT: Minster Desmond Bannister poses with a young participant at the fair.

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EDITOR, The Tribune. On September 23, 2010, Delaporte Point owners s igned a document demanding that ALL Delaporte P oint Limited (DPL t ors vacate office. A defiant Board notified o wners that they would not v acate office as requested b y a majority of owners. Following is a notice sent to owners from the incom-i ng Board: In accordance with Article 46 (d of Association, the Board ofD irectors of DPL, comprisi ng Shonel Ferguson (Chair man), Gloria Factor (Secretary), Graham Garner( Treasurer), Joe Stanley ( Director), Templeton Hutchinson (Director Sue Kimball (Directorb een ordered to vacate their offices effective September2 3, 2010. T he Directors have been served through the regis-t ered office of The Compa ny with this request in writi ng by members of the Company holding and representing over one-half in value of t he subscribed and issued s hares of the Company. The o utgoing Board and its Directors have beeni nstructed to immediately c ease to act as representatives of the Company, not t o enter into any agreements or contracts on behalf of the Company and to return alla ssets in their possession to t he registered office of The C ompany. Owners have been trying t o get rid of the DPL Board s ince April 2010 when the Board, apparently fearing they would be ousted, adjourned an Annual General Meeting before the required election of new Directors could be held. Owners are also angry at t he former DPL Directors regarding a certain financial matter for which they can-n ot get answers, a $124,000 lawsuit against the DPL B oard by apartment owners, the Boards refusal to r elease financial statements, h old the required annual election of new Directors, t heir refusal to step down as p rescribed by company law and other allegations. The Boards attitude towards the community has m any owners wondering if t here might possibly be s omething to hide? So, what should owners do to force the formerB oard to vacate office so t hat a new Board can shed some light on the issues that a re troubling owners about t heir investment? DELAPORTE R ESIDENTS Nassau, October 27, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, FRIDAY, OCTOBER 29, 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 WEBSITE www.tribune242.com updated daily at 2pm LONDON (AP chief stepped out of the shadows with an unprecedented public address, defending the need for secrecy to counter growing terror threats such as Iran's nuclear proliferation. MI6 chief John Sawers said Thursday even though Cold War-era secrecy has been lifted and intelligence agencies were working to become more accessible, keeping intelligence material secret was vital to protect people against terror attacks. "Secrecy is not a dirty word. Secrecy is not there as a cover-up," Sawers told a select group of journalists in London. "Without secrecy there would be no intelligence services, or indeed other national assets like our special forces. Our nation would be more exposed as a result." The question of secrecy has dominated world news in the last week, after the whistleblowing group WikiLeaks published nearly 400,000 U.S. intelligence logs detailing daily carnage in Iraq since the 2003 U.S.-led invasion. In July, the same group published 77,000 secret U.S. documents on the war in Afghanistan. Some of the leaked documents show that coalition forces handed over terror suspects to Iraqi security services even after abuse was suspected, or continued with interrogations despite visible injuries to suspects. There has been no clear mention of MI6 involvement in the logs, however. Sawers' speech also comes as two government inquiries probe whether MI6 and other agencies were complicit in the abuse of terror suspects allegations that Sawers denied Thursday, adding that MI6 agents are oblig ated by law to stop and avoid torture. "And we do even though that allows terrorist activity to go ahead," he said, adding that although his agency hasn't been specifi cally accused of torture it has been accused of being too close to it." Sawers also known by the codename "C'' as all MI6 directors have been known since the first chief Mansfield Cumming said progress had been made in Afghanistan and Pakistan, but new terror threats were growing in Yemen, Somalia and North Africa. The new threats come amid severe budget cuts ahead. "We get inside terrorist organi zations to see where the next threats are com ing from," he said. "What we do is not seen." He said while a "typical" terror attack would not bring down Britain, the dangers of nuclear proliferation as well as chemical and biological weapons had the potential to alter the political balance of power in the region. "The revelations around Iran's secret enrichment site at Qom were an intelligence success," he said. "They led to diplomatic pressure on Iran intensifying, with tougher U.N. and EU sanctions which are beginning to bite. The Iranian regime must think hard about where its best interests lie." But using intelligence poses anguished choices for agents especially when faced with the possibility that intelligence could be tainted by abuse or torture. "Suppose we received credible intelligence that might save lives, here or abroad. We have a professional and moral duty to act on it," he said. "We also have a duty to do what we can to ensure that a partner service will respect human rights. That is not always straightforward. If we hold back, and don't pass that intelligence, out of concern that a suspect terrorist may be badly treated, innocent lives may be lost that we could have saved," he said. "Sometimes there is no clear way forward." In a court case that drove a wedge between U.S. and British intelligence, British High Court judges last year ordered the government to release secret U.S. intelligence exchanges on the treatment of former Guantanamo Bay detainee Binyam Mohamed, who claimed British authorities knew he was beaten and had his genitals sliced with a scalpel while being interrogated in Morocco. Sawers said the release of such information risked intelligence sharing and undermined the "Control Principle," a rule in the intelligence community that says the agency that gets the information first has the power to decide how the information is used. "So if the control principle is not respected, the intelligence sharing dries up," he said. The U.S. and Britain have often taken dif ferent approaches to terror threats, most recently seen during a European terror plot that was unveiled last month and is still con sidered active. While the United States issueda travel advisory warning citizens to be aware of potential threats in Europe, British offi cials downplayed the specifics of the plot. There was also a striking difference during the trans-Atlantic bombing plot in 2006, where militants tried to down several airliners with e xplosives contained in soft drink bottles. Prosecutors said American officials wanted to crack the plot and round up the suspects quickly whereas British officials wanted to wait and gather more information. MI6, known as the cloak-and-dagger employer of the fictional James Bond, has tried to become less secretive. It has started posting recruitment ads in Britain's media, hired press officers, and last month released its first-ever official history. The CIA took a similar path years ago. Sawers has already revealed more than any previous MI6 chief. Shortly after his appointment was announced last year, a newspaper ran some of the spy's holiday snapshots, taken from his wife's Facebook page. The images showed Sawers posing with his children, wearing a Santa hat and playing Frisbee on a beach. The Facebook pictures and other personal details were removed after the newspaper told the government about them. Some politicians called the details a security lapse. (This article was written by Paisley Dodds, Associated Press writer). Delaporte Point Directors asked to vacate office LETTERS l etters@tribunemedia.net UK spy chief defends secrecy in 1st speech EDITOR, The Tribune. My name is David Thompson, a former m ember of The Vanguard Nationalist and S ocialist Party. The next General Election is just around the corner. All political parties are busy making preparations. Mr. Christie, leader of the PLP, has indicated that he will lead his party in the 2012G eneral Elections. I f Mr. Ingraham decides not to lead his party, the FNM, who will? Tommy was rejected in 2002 by the voters, Dion, and Carl do not have leadership qualities. Branville is undisciplined...and is trying to build himself up as a leader, which to me is a big mistake. Leaders are not built, they are born, which brings me to the point of this letter. For the past several weeks, Ive been talking to people from different walks of life, and the majority along with myself have come to the conclusion that only one person in the FNM party has the ability to lead, if Mr. Ingraham decides not to. The person is Dr. Duane Sands. He was robbed in the by-elections in Elizabeth, by Mr. Ryan Pinder, who is only warming up that seat for Dr. Duane Sands until next elections. W ord is that those undecided voters who d id not vote in the by-elections, have now made up their minds. As a result of Dr. Sands continuous work in the constituency, the majority will now vote for the FNM. Im going to make a prediction based on my experience and the sip-sip that is goinga round. Dr. Duane Sands will become the n ext Prime Minister of The Bahamas. COMRADE DAVID THOMPSON, Nassau, October 19, 2010. Dr. Duane Sands will become the next Prime Minister of Bahamas Shar e 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, campaigning for improvements in the area or have won an award. If so, call us on 322-1986 and share your story.

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C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE Royal Bahamas Police Force is promising "games, prizes and surprises" at the annual Safe Halloween event tonight. There will be face painting, costume contests, goodie bags, eats and treats, a haunted house, games, prizes, karaoke and fire engine rides. The event, to be held at the Police Training College on Thompson Boulevard beginning at 6pm, is a crime prevention initiative that aims to provide a safe environment for parents and children to enjoy Halloween. All members are invited and the entrance fee is only $1.RBPF hosts annual Safe Halloween AFTER terminating more than 80 staff members, management at the Broadcasting Corporation of the Bahamas has been accused of re-hiring some of the employees they let go not more than two weeks ago. A number of staff members who accepted the government's voluntary package told The Tribune yesterday that it appears as if more persons were let go by the corporation than was wise. One former staff member told The Tribune that persons have been re-hired to work on the radio and news production teams, and that a number of other persons are still in talks with management at this time. The source alleged that several changes can be expected at the BCB in the coming weeks. For one thing, ZNS TV news anchor Jerome Sawyer will reportedly no longer be presenting the nightly news at 7pm. Mr Sawyer, the source said, is being asked to host a one hour "daily news show" which will air between 9pm and 10pm. Messages left for BCB general manager Edwin Lightbourne seeking comment were not returned before press time last night. When word first leaked out about the intended cuts at the BCB, it sparked outrage among the staff and led to a series of protests. At one point, staff members even marched to the Churchill Building on Bay Street to demand answers from Minister of National Security Tommy Turnquest, who has responsibility for the Broadcasting Corporation. The opposition PLP criticised the downsizing, however Prime Minister Hubert Ingraham said the governement acted honourably, paying the laid-off staff more money than they were entitled to. ZNS accused of re-hiring terminated employees FIRE services had to be called to Paradise Island yesterday when a sewage container burst into flames. The blaze caused a huge black smoke cloud that could be seen billowing from the island around noon. Fire services were called to the scene and found the aluminum container, which was housed in a utilities storage area on the opposite side of the island from the Atlantis resort, engulfed in flames. According to the information given to responding officers, the container was being demolished when it caught fire. Fire fighters were able to extinguish the blaze within a short period of time. There was no damage to Atlantis or any other property on the island.Sewage container erupts in flamesABLAZE: A FIRE truck refills at a fire hydrant extinguishing an aluminum sewerage container on Paradise Island.Tim Clarke /Tribune staff

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By ADRIAN GIBSON ajbahama@hotmail.com W ITH the government set to provide yet another multimillion dollar bailout to it, its clear that the Bahamas Electricity Corporation (BEC proving to be a financial alba-t ross around the necks of B ahamian taxpayers. It has evolved into a haemorrhaging utility company that has become grossly indebted and appears to be severely mismanaged. A s it stands, Bahamians continue to shell out more and more monies on bloated electrical bills, while enduring subs tandard service. Further, e ven with its monopolistic stat us on most islands, it has become yet another failed g overnment experiment. F rankly, BEC is a corpor ation whose wastefulness was s hown when it collected 800 gallons of spilled oil from g rounds around Clifton Pier station a few years ago. It is h ardly fuel-efficient and envir onmentally-friendly, continu ously leaving a large carbon f ootprint and, in addition to facing financial woes, persistently incurring maintenance issues. The privatization of B EClike BTCwould undoubtedly lead to e nhanced, cost-effective services. In the July 24, 2008 edition of The Tribune, Prime Minister Hubert Ingraham e xpressed the notion that he expected the process to privat ize BEC to be easier than t hat involving BTC. According to the Prime Minister, the state can no longer continue to provide the kind of generation capacity that is required for the operations of BEC. He asserted that the multim illion dollar subsidies handed out by government on an annual basis to governmentrun entities are, going forward,u naffordable on a continuing b asis. The Bahamas can increase its energy security by exploring its alternative energy options, especially with greater awareness as to thel imitations of fossil fuels. It is high-time that Bahamian policy-makers strategically plan for the long term and examine the new sources of energy that can be applicable to this count ry. P oliticians releasing press statements and talking about alternative energy is mere hota ir, and environmentally-conscious Bahamians are wondering when the talk of biof uels and green energy will e volve into more than pie-inthe-sky pipe dreams. When will citizens be granted perm ission to use solar panels and/or to explore alternative energy sources? W hen will a windmill be i nstalled at Clifton Pier? When will a water-to-energy facility be demonstrated at New Providence? When will wave technology be deployed? When will the 27 BEC p ower plants be revamped to facilitate the incorporation of alternative energy? Moving forward, what will be the fuelh edging strategies being util ized by BEC? With oil prices fluctuating, the value of the dollar plummeting, high food costs and an economic downturn, the government must swiftlyd evelop an energy policy and offer incentives and support in proposing and driving renewable energy legislation. In recent times, because of high freight rates and the d emand for corn, wheat and s ugar cane for ethanol products, food prices have also risen. A ccording to Wikipedia, an online encyclopaedia: Renewable energy effectivel y uses natural resources such a s sunlight, wind, rain, tides and geothermal heat, which are naturally replenished. R enewable energy technolo gies range from solar power, wind power, hydroelectricit y/micro hydro, biomass and biofuels for transportation. Due to the absence of geysers or large agricultural enterprises, geothermal power ore ven the production of e thanol fuel would not be feasible in the Bahamas. According to the online encyclopaedia, Brazil has the worlds largest renewable energy programme, deriving ethanol f rom sugar cane which prov ides 18 per cent of that nations automotive fuel. Because of an abundance of sunshine, wind and water, we can explore renewable energy technologies such as solar p ower, wind power and wave energy. A few years ago Jerome Elliott, then president of the Bahamas Society of Engineersa nd head of the governments R enewable Energy Committee said: Its important for us to consider renewable energy options as, because most of us a re aware, hydro carbon or oil b ased energy is finite. Its not going to last forever. Mr Elliott also noted that t he Bahamas will inevitably have to switch to alternative energy, with the most practic able being wind, wave and s olar energy. Locally, there are offshore sites with strong, continuous w inds that would be fitting locations for wind turbines to be set-up. Additionally, thes trong currents flowing t hroughout the archipelago are ideal for power derived f rom waves/tides. Our sub-tropical climate, with the sun as an omnipresent feature, is a suitable locale for solar power sys-t ems which we are currently f ailing to capitalize on. Presently, Japan is the worlds leader in the solar energy industry, with Kenya holding the record for the worlds highest solar ownership rate w ith roughly 30,000 small (201 00 watt) solar power systems sold per year (Wikipedia In Eleuthera, the Island Schools innovative approach has resulted in that institution being able to convert used c ooking oildonated by cruise shipsto fuel and t hereby produce their own electricity. There are some Family Islanders who haveb een experimenting with solar p ower for several years. Moreover, while some may o bject, consideration should be given to the feasibility of installing a mini-nuclear react or to provide cheap energy. O f late, the septic tank-sized nuclear reactor has been hailed internationally as a nov-e l means of generating power in an age where countries are becoming increasingly conc erned about moving away f rom dependence on oil. According to its developers, the septic tank-sized power m odule will likely be buried in the ground and run by operators from the local utili t y company. It has been said t hat this form of alternative energy is around five to 10 t imes cheaper to produce than solar or wind power. Furthermore, waste-toenergy initiatives are considered as one of the countrysg reatest opportunities for harn essing renewable energy. The waste-to-energy method purportedly creates energy in the form of heat or electricity from a waste source. Undoubtedly, the production o f energy from waste would a lso reduce the amount of waste treated in the Harrold Pond area. What happened to the drafts for a national energy policy that was submitted by N ational Energy Policy Committee and was purportedly b eing reviewed by the government? What happened to the finalization of an agree m ent with a renewable energy p rovider that State Minister of the Environment PhentonN eymour promised would be completed by the end of 2009? With China and Indias i ncreasing industrialization, oil s hortages will continue and the price will further increase with the greater demand. As an ation, we must begin exploring the use of cheaper, biodiesel fuels! W ith the record-setting p rices at the countrys pumps and skyrocketing energy costs, in the interim the government s hould consider reducing the hefty fuel tax, which would immediately lower the costst o consumers. A consumer e ducation programme must be undertaken to teach B ahamians how to conserve energy and lessen the hit to their pocketbooks, especially as salaries have remained stag n ant amidst a recession and mounting living costs. C HARLES MAYNARD: GOOD SPORT! This week, the ZNS newscast yielded a humorous, s eemingly heartfelt clip of Minister of Culture Charles Maynard dressed in thec olourful, psychedelic garb usually worn by businessman Frank Hanna during his endorsement and promotion of the Frank Hanna October Fest in North Androstak ing place this weekend. Mr Hanna is known for his participation and sponsorship of cultural events, particularly those in Andros. Moreover, Mr Maynard has shown that hes a good sport with his consistent participation in the pastors versus politicians basketball game at the Nelson Cooper Basketball Tournament, which is held to discourage gang violence and raise funds to assist troubled youths. Frankly, for those lightheartedeven self-depreciat ing gesturesin pursuit of the greater good, Mr Maynard is to be commended. C M Y K C M Y K PAGE 6, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM BEC is an albatross around necks of Bahamian taxpayers Y OUNG M AN S V IEW ADRIANGIBSON

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C M Y K C M Y K LOCAL NEWS PAGE 8, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM T he Anglican Church of the Epiphany will hold its annual fair on Saturday, O ctober 30, at the church on Prince Charles Drive. T he event starts at 6am with a souse out, patio sale a nd plant stall. It then con tinues from noon to 8pm with chicken and steak dinners, home cookery, conch fritters, pastries, games, b ouncing castle, Halloween competition and fireworks ton ame a few attractions. There will also be a prayer s tall, for those persons who desire prayer. FREEPORT Two men are expected to be arraignedo n Friday in the Freeport Magistrate's Court in connection with Monday's shooting at Garden Villas. A SP Hector Delva said police have also withdrawn the All Points Bulletin issued on George Alexander Ferguson, who surrendered toa uthorities around 10am Thursday. Ferguson, 29, was wanted for questioning in connect ion with Mondays shooting of a Bimini man. Also wanted was Rodnell Octavien, 25, of No 24 Imperial Gardens, East AtlanticD rive. T wo expected in court over shooting bers of the community. He said it was not made clear at the meeting that the Departm ent of Physical Planning had already granted permission to excavate 4.32 acres of upland area for a yacht basin, 2.56 acres o f seabed for an outer channel, 4 .28 acres of marine area for a barge landing and a further 1.9 acres of seabed for the outer area of the barge landing on Septemb er 21. Local tour boat operators spoke out at the meeting claiming dredging is already being done a t Bell Island; claims flatly denied a t the meeting by BNT executive director Eric Carey. Conditions of the permit state an Environmental Management P lan (EMP Impact Assessment (EIA be approved by the Bahamas Environment, Science and Techn ology (BEST b efore work can begin, and the EMP is expected by Mr Carey this week. Plans were submitted by I slands of Discovery Ltd after Islamic spiritual leader and billionaire Prince Karim Aga Khan IV bought the island last year. D etails of the development e merged as Environment Minister Earl Deveaux confirmed he had accepted the offer of free transportation in the Aga Khans helicopter to travel to Abaco with h is wife and two friends to attend a public event before going on t o Bell Island to conduct a land assessment the next day. In answer to his critics, Minister Deveaux said that in no way did this courtesy by the Aga Khant o make it possible for him to attend the two meetings one in Abaco, the other in Bell Island influence his decision on the Bell Island application. It was also alleged by Tribune s ources that the Aga Khan donated $1 million to the BNT after he purchased the island. Mr Carey has issued no comment on the donation claim, however a BNT statement on the development maintains: Every landowner in the park has contributed generously to the fundi ng of the BNT. Mr Bain said: The Trust has gone along with every development in the Exuma Cays Land and Sea Park, and I have been trying to save the Trust from themselves by trying to keep development out of the parks. STEP has been lobbying for a n amendment in the BNT Act to prevent development in the Exuma park and all national parks across the Bahamas since the group was founded 17 years ago. But recent amendments passed in Parliament do not include such changes, and STEP n ow continues to fight a battle Mr Bain says the BNT should fight for itself. The activist of Farmers Cay, Exuma, further stated how locals and fishermen find development in the 176 square mile park hard to accept as they are prohibited from taking anything within its boundaries. I n an editorial column published in The Exuma Breeze thism onth, Mr Bain called on all Bahamians to speak out against d evelopment in the Exuma park and all national parks. SIXTY-FOUR suspected illegal immigrants were apprehended yesterday by officers from the Royal Bahamas Defence Force and the Department of Immigrat ion. The apprehension exercise began at 6am, with officers setting up road blocks onn umerous roads in western New Providence. A mong those apprehended were 57 Haitians, three P eruvians and one Jamaican man. Suspected illegal immigrants are apprehended Anglican Church of the Epiphanys annual fair F ROM page one Call for ban BASTIAN SET TO RUN AS INDEPENDENT FROM page one I would have thought that since he doesnt have a headquarters that if the government is paying him $18,000 a year (to manage it s hould have some money somewhere because he never created an office. So if you look at his MPs salary of $28,000 and then he gets at ravel allowance to visit his constituency they even give him a per diem. So he cant find no excuse. A nd when it comes to campaigning for the next general election, Mr Bastian said he will in no way be spending the amounts of mon ey that he has spent in the past on the last two general elections. I dont have intentions of spending the money I spent before. If the people want me they will vote for me. If they vote for me, I will s erve to the best of my ability. In terms of spending what I spent in the last two elections you dont have to worry about that ever again. We have to break that habit in South Andros. Because people who do things like that feel like they dont owe the people anything. But p eople on the Family Islands only need assistance. They only want you to point them in the right direction to get things done. They dont need you to put ya hand in your pocket. But the only way to understand the needs of the people is to sit down an talk with them.

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C M Y K C M Y K LOCAL NEWS THE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE Bahamas Society of Engineers (BSE) has donated $40,000 to a fund at the College of the Bahamas to ensure that a scholarship opportunity will be available to engineering majors. This fund, the Peter Gordon Memorial Bursary, is named in honour of the former Director of Public Works who contributed significantly to the development of the engineering profession, said COB president Dr Earla Carey-Baines as she thanked the BSE for the financial gift during a press conference on Wednesday. Speaking of Mr Gordon, Dr Carey-Baines said: "His mentorship has been invaluable to many who have followed his professional footsteps," she said speaking at the Chapter One Bookstore. "The bursary will be awarded to a student enrolled in a full-time undergraduate degree programme in engineering at COB who has a demonstrated financial need." Engineering is one of COB's most highly subscribed programmes in the School of Mathematics, Physics and Technology; in fall of this year, approximately 80 students were enrolled in this programme alone, Dr Carey-Baines said. "This most generous gift demonstrates that the Bahamas Society of Engineers recognises the critical importance of supporting our students and fostering opportunities through which they can attain a high quality tertiary education," said the college president. Through the gift, the BSE joins a long list of private donors and friends who have supported the college and its students through their philanthropy, she added. Chairman of the BSE scholarship committee Robert Deal Jr explained that Mr Gordon, who was born in the United Kingdom, left a legacy in the Bahamas where he mentored many engineers through their professional development. Mr Deal also thanked the 45 sponsors and those within the BSE who assisted in the collection efforts of the scholarship committee. He said the committee exceeded its collection target by more than $5,000. President of COB's Union of Students Antonio Butler said: "For some fortunate students studying engineering, this gift and the endowment that will result will mean the difference between having a dream and being able to bring that dream to fruition." The prevailing economic conditions, coupled with financial challenges facing many families, place the dream of having a quality college or university education out of reach for some students who aspire to become contributing members of the society. "But through this gift, and others like it, private donors are ensuring that this is no longer an obstacle to accessing tertiary level education," Mr Butler said. LIEUTENANT Commander Herbert Bain returned home with a new degree and insight for the Bahamas' maritime sector. He anticipates using his new skills to help form national maritime regulations that complement international maritime legislation. "Most countries do not have the capacity to police their borders so that is a reality that we are aware of and international cooperation and collaboration can fill some of the gaps when it comes to your limitations as a country," said Lt Commander Bain. "We are the third largest ship registry in the world, so when it comes to ship safety we have a major responsibility and obligations for safety to life at sea as well as all the other conventions related to ships in international trade. So, all maritime issues become very important to us." On October 10, he graduated from the World Maritime University in Mamao, Sweden with a Masters degree in Maritime Affairs. The awards were presented by the Secretariat General of the International Maritime Organisation (IMO), EE Metropoulos, Chancellor of the University. The Masters in Maritime Affairs programme is an intensive 17-month long programme, endorsed by the United Nations. Lt Commander Bain anticipates his knowledge would be used to assist in drafting maritime legislation and policies that coincide with the international Law of the Sea. He also looks forward to paving the way for young Bahamian cadets to get exposure with working on private yachts. "Opportunities are available within the industry. There's a lot of things we can do as a country to attract young people to the industry. With the number of ships we have out there we need to get our young cadets on ships and get them exposed," said Lt Commander Bain. "Along with the commercial shipping industry, we have the most cruise ships on our register and yachts are considered passenger ships as well. We have other commercial ships, such as tankers, where we could also get Bahamians on board (these ships). The key is for us to start somewhere and create that avenue." Lt Commander Bain specialises in maritime safety and environmental administration and concentrated on international maritime law and policies, port management, maritime ocean management, environmental administration, as well as other areas in the maritime sector. He was the former International Ship and Port Security (ISPS) coordinator for the Bahamas. He also served as the Bahamas' 24-hour single point of contact for the IMO. "I am convinced that numerous opportunities exists within the maritime field for young Bahamians. Also, I am committed to assisting in the growth and development of the industry", said Lt Commander Bain. Lt Commander Bain began his maritime career in 1984 when he joined the Royal Bahamas Defence Force and was sent to Britannia Royal Naval College at Dartmouth, England to complete the Royal Navy's International Midshipman's Course. Since then, he has qualified himself in several other maritime related areas which include inter alia port operations and management, marine surveying, Commercial Ship Master/Chief Mate Certificate, IMO member state auditor and marine pilot training. Bahamian graduates from the World Maritime University BSEdonates $40,000 to the Peter Gordon Memorial Bursary ACCOMPLISHED: LIEUTENANT Commander Herbert Bain earned the degree of Master of Science in Maritime Affairs with the prestigious and award of "distinction" from the World Maritime University, Malmo, Sweden. DONATION: THE Bahamas Society of Engineers presented the College of the Bahamas with a $40,000 gift to fund the Peter Gordon Memorial Bursary at Chapter One Bookstore on Wednesday, October 27. Pictured from left: Dr Robert Reiss, president of the Bahamas Society of Engineers; College president Dr Earla Carey-Baines; widow of the late Mr Gordon, Linelle Gordon; COBUS president Antonio Butler, and chairman of the BSE scholarship committee Robert Deal Jr. BISPhoto Patrick Hanna/ BIS Photo

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C M Y K C M Y K SECTIONB business@tribunemedia.net FRIDAY, OCTOBER 29, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.25 $4.20 $4.26 worry freegroup pensions sound investment management independent corporate trustee oversight independent corporate custodian diversied investment portfolioall of the abovecall us today at 396-4080FAMILY GUARDIAN CORPORATE CENTRE: AT THE JUNCTION OF VILLAGE ROAD, SHIRLEY STREET & EAST BAY STREET I www.famguardbahamas.com A SUBSIDIARY OF By NEIL HARTNELL Tribune Business Editor Cable Bahamas is arguing that the Bahamas Telecommunications Company (BTC should reduce the per data entry charge under its Reference Access Interconnection Offer (RAIO per cent, from $1.91 to $1.02, and has called on the regulators to mandate zero-based interconnection rates for local call termination. Responding to the Utilities Regulation & Competition Authoritys (URCA consultation on BTCs draft access and interconnection offer, the BISX-listed communications provider said BTCs consumer prices for local fixedline voice calls appear to be set at a level that is below cost and subject to flat rate pricing, even though a substantial por tion of the corresponding costs are traffic-sensitive. Arguing that this could act as an anti-competitive barrier to other telecoms operators (such as itself, given that Cable Bahamas is eager to enter the fixed-line voice market, espe Cable ur ges 46% fall in BTC data entry costs SEE page 7B By NEIL HARTNELL T ribune Business Editor The Bahamas Telecommunications Company (BTC slammed as flawed the industry regulators benchmark study of its termination rates, arguing that the conclusions drawn o ver its fixed-line voice services are invalidated because noneof the other jurisdiction studied were comparable to the Bahamas 42-island archipelago. In its response to the Utilities Regulation & Competition Authoritys (URCA t ion on its draft Reference Access and Interconnection Offer (RAIO incumbent, which is in the mid dle of a privatisation exercise as the Government and its appointed committee negotiate with Cable & Wireless, said it was highly inappropriate toc ompare BTCs proposed intraisland termination rates with those levied in the jurisdiction sample selected. The other termination rates represent tariffs for call termi nation on a single island or small group of islands, BTC argued. This is obviously notc omparable to a situation where call termination is provided across 42 islands in the Bahamas using an extensive under-sea cable network. The very first responsibility when conducting a benchmark study is to ensure that service definitions for the peer groupa re comparable, and URCA has failed in this important first step. This is such a flaw in the comparison that it invalidates any conclusions, preliminary or otherwise, relating to this benchmark study. As for its cellular termina tion rates, BTC said the pro p osed charge was low in com parison with other regional rates. The Bahamas rate of $0.0724 per minute, it added, was lower than the $0.0746 charged in Trinidad, the $0.1184 levied in Anguilla, $0.1441 in the eastern Caribbean, and the $0.2251 charged in the Cayman Islands. It is clear from the graph that Bahrain is such an outlier compared with Caribbean benchmarks that a more reasonable conclusion would be BTC slams a flawed URCA study State-owned carrier s ays cellular call termination rates 47% below industry average SEE page 5B By ALISON LOWE Business Reporter a lowe@tribunemedia.net A major Exuma developer h as seen a 20 per cent increase in property rental prices and a good year fors ales, crediting the re-open ing by Sandals of anchor tenant, the Emerald Bay prop-e rty, for improving business c onditions. Randy Hart, managing director of February Point -a high-end boutique resort community in Great Exuma said he believes part of the i mprovement in prospects foll owing the dark ages when the sky was falling down eco nomically, due to the closure o f the Emerald Bay property, was because his resort was already relatively well estab lished in comparison to other s imilar developments. His comments on the impact Sandals has had onb usiness for February Point stand in contrast to those from Exuma Chamber ofC ommerce president, Floyd Developer sees 20% rise in rental prices SEE page 4B By ALISON LOWE Business Reporter a lowe@tribunemedia.net The Customs Department is preparing to demand that numerous Bahamian airlines and charter operators hand over what amounts to millions of dollars in unpaid Customs and Stamp duties allegedly owed on previously imported aircraft, or face having their aircraft seized. Glen Gomez, Comptroller of Customs, said his departments move comes after an investigation lasting several weeks, which culminated in the discovery that a fair amount of all Bahamian operators owe the department money for planes $700,000 in the case of one unnamed local airline. Aircraft are dutiable at 10 per cent, noted Mr Gomez, who further revealed that the department is still determining whether airlines and char ter operators will pay a penal ty on the allegedly overdue duty, potentially adding to the financial burden. Randy Butler, chief executive of Sky Bahamas, said he had been informed by a senior Customs officer that the duty was to be demanded of his company in a recent meeting. He told Tribune Business it is likely that several operators may be asked to pay out several hundred thousand dollars each if the department goes ahead with collecting the duties. The Government had on the books this 10 per cent Stamp tax on planes coming into the Bahamas but it was never collected. Now they want to go back to all the ones which have been here for years, said Mr Butler, who suggested it was an over sight on the part of Customs Airlines grounded by Customs over aircraft sums owed GLENN GOMEZ Department says one airline owes $700,000 in unpaid Customs and Stamp duty on imported planes* Operators believe demand for extra taxes will kill us all SEE page 4B EXPANDING: New Robin Hood shopping store and centre on P rince Charles Drive. By ALISON LOWE B usiness Reporter alowe@tribunemedia.net A company that grocery industry sources last night said was affiliated with Bahamas Food Services and its principal, B en Frisch, has signed a preliminary agreement to purc hase the majority 78 per cent stake in City Markets held by t he BSL Holdings investor group in a deal which, if it goes t hrough, will shake-up the Bahamian retail and wholesale sectors. D erek Winford, City Markets chief executive, confirmed in a statement yesterday afternoon that a Bahamian com-p any, Associated Grocers of the Bahamas, had signed a M emorandum of Understanding (MoU Holdings 77.782 per cent interest in the troubled 11-store supermarket chain, adding that the buyer had the necessary tools and resources to reengineer and revitalise Bahamas S upermarkets operations to make it a viable, competitive and profitable company. No purchase price was disclosed, BFS affiliate buys majority City Markets shareholding Deal for undisclosed sum set to close by N ovember 5 Union feels 700 jobs safe whatever happens Wholesalers plans to integrate retailer likely to shake up Bahamian wholesale/retail industry SEE page 6B By NEIL HARTNELL Tribune Business Editor Robin Hoods principal yesterday said he was looking at investing a further $30-$40 million over the next four years to expand the retailers total Bahamian store portfolio from the current two to six, as he prepares to start hiring more than 100 persons over the next few weeks for the 44,000 square foot new Prince Charles outlet. Sandy Schaefer, in an interview with Tribune Business, told Tribune Business that the expansive retailer was looking for a third Robin Hood site for next year, with its second outlet the converted former PepsiCola manufacturing facility Robin Hoods $30$40m growth plan n Retailer eyeing growth from two to six stores in four years, with expansion to Abaco and Freeport n Hundreds of jobs to be created within next 10 months, with hiring for 100-plus at Robin Hood set to begin in three weeks n Fixtures/furnishings costs drop by 60-70% as result of recession n F ifty-five-65 contractors and tradesmen working to ready Prince Charles s ite for pre-Christmas SEE page 3B

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C M Y K C M Y K BUSINESS PAGE 2B, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Bahamas Financial Services Board (BFSB ed the 10th anniversary of its Industry Excellence Awards programme last week at a Gala Dinner. The recipients for the 2010 Student of the Year, Achiever of the Year, Professional of the Year and Executive of the Year were announced. Also recognised at the awards ceremony were the recipients of the 2010 Development and Promotion Award, and the new BFSB Mentorship Award. The latter was introduced this year to commemorate the anniversary celebration. The 2010 Recipients are: Achiever of the Year: Dominique L. Glinton, legal administrator/office man ager, Glinton Sweeting O'Brien Professional of the Year Veronica Moncur-Sher man, team head, Asia Desk, UBS Trustees (Bahamas Executive of the Year John M. Lawrence, chair man, Windermere Corporate Services Student of the Year Edmund T. Bain BBA Accounting: The Bahamas Financial Ser vices Board (BFSB Pamela L. Klonaris for its 2010 Development & Promotion Award in recognition of her development of the SMART(c Eve M. Burrows-Poitier, CFA (Retired, Head of Economics, Banking & Finance Department, College of the Bahamas) was chosen as the recipient of the first Mentorship Award. BFSB introduced the Indus try Excellence Awards Pro gramme in 2001 in collabora tion with the FSI Industry Associations to recognise excellence in performance among industry practitioners. This year, the Association of International Banks & Trust Companies in the Bahamas (AIBT BFSB to enhance the profile of the annual Financial Ser vices Industry Excellence Award. LEADING FINANCIAL WORKERS HONOURED STUDENT OF THE YEAR: L to R BFSB chairman Paul Winder, Societe Generale Private Banking's Renee Barrow, Deputy Prime Minister Brent Symonette, Edmund T. Bain, and CFAL's Sophia Thurston and Pamela Musgrove. EXECUTIVE OF THE YEAR : L to R BFSB chairman Paul Winder; John M. Lawrence; Deputy Prime Minister Brent Symonette. PROFESSIONAL OF THE YEAR : L to R Deputy Prime Minister Brent Symonette and Monalisa Stubbs of UBS Trustees Bahamas, accepting the award on behalf of Veronica Moncur-Sherman. A CHIEVER OF THE YEAR: L to R BFSB chairman Paul Winder, Deputy Prime Minister Brent Symonette, Dominique L. Glinton, AIBT chairman David Thain. DEVELOPMENT AND PROMOTION AWARD: L to R BFSB chairman Paul Winder, Pamela L. Klonaris, Deputy Prime Minister Brent Symonette. B B F F S S B B C C E E L L E E B B R R A A T T E E S S 1 1 0 0 T T H H A A N N N N I I V V E E R R S S A A R R Y Y O O F F I I N N D D U U S S T T R R Y Y E E X X C C E E L L L L E E N N C C E E A A W W A A R R D D S S P P R R O O G G R R A A M M M M E E A RoyalFidelity Merchant Bank & Trust pensions manager was the guest speaker at the monthly Society of Trust and Estate Practitioners (STEP the British Colonial Hilton on 21st Octo ber, 2010. Cleora Farquharson presented on pen sion trusts in the Bahamas, focusing on the social and financial imperatives for pension scheme development. She also gave informative statistical comparisons to underscore her main points. STEP Bahamas awarded one Diploma scholarship each for the 2010-2011 year to George Carey and Clement Penn. FIDELITY EXECUTIVE ON PENSION STEPS ALL TOGETHER: Pictured left to right: Dianne Bingham, Tanya Hanna, Anita Bain, Samantha Symon ette, George Carey Clement Penn, Nicole Pratt-Rolle, Timothy Colclough, Paul Winder, Dena Andrews, Samuel Haven.

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C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 'U/LX=HOLQ/HRf+DV 029('IURPLOODJHRDGWR :LQFKHVWHUWUHHWDOPGDOH0 LUDFXORXV&KLQHVHHGLFDO'RFWRU 6WRSDLQ,Q$LQXWHV The 32-room Peace and Plenty boutique resort in Exuma remains up for sale, but has attracted little interest so far,its general manager said yesterday. Charlie Pflueger said renovations have been undertaken on the property including a new roof, replaced windows and a paint job to enhance its attractiveness to would-be investors. Plans to formally market the hotel, which overlooks Elizabeth Harbour in Great Exuma, have yet to be put in motion, but its availability has been made known by word of mouth, said Mr Pflueger. The property has been available since its owner died over a year ago, and his two sons determined that they would sell the asset. Mr Pflueger said he believes a price tag of around $8.5 million would be attached to the Peace and Plenty, although this has not been pinned down. The mini-resort has been closed for its seasonal renovations since mid-August and has yet to re-open. Well be closed a little longer this year. Business is a little light, so were not in any hurry. Were doing painting and repairing, and well probably re-open around December, said the general manager. Resort remains on the market still on target for a pre-Christmas 2010 opening. Were looking for another four to five acres to build our own shopping centre, probably somewhere in the south, Mr Schaefer said of plans for a third Robin Hood store in New Providence. I think theres a great market unexplored down there. I have a couple of options were looking at,and if anyone has land theyre looking to sell cheaply, give me a call. Beyond that, were looking for a fourth store and then will consider New Providence totally developed. Our logical next step will be Abaco over Freeport, and then we will do Freeport, all in the next three to four years. Asked how much investment this would involve, Mr Schaefer told Tribune Business: If you look at everything involved the cost of acquiring the land, building the shopping centre, fixturing it and stocking it, youre looking at a minimum for another four locations of anywhere from $30-$40 million. Some 55-65 contractors and tradesmen are working feverishly to get Robin Hoods Prince Charles store ready for a pre year-end opening,and Mr Schaefer added: I would say that as far as the building is concerned, were better than 50 per cent of the way there. Were actually going to start stocking the store in the next three-and-ahalf to four weeks. Fixtures and the refrigeration equipment were set to be installed from yesterday, and Mr Schae fer said Robin Hood had invested around $1.7 million in upgrading the building it inherited from Pepsi-Cola in what was a $2.05 million transaction. He revealed that the drinks manufacturer had rejected a higher $3 million offer from the retailer some 12 months before. Apart from $2-$2.5 million in inventory need e d to stock the Prince Charles store, Mr Schaefer said Robin Hood was spending less than $1 million in fixturing and outfitting the property, explaining to Tribune Business that the recession had depressed furnishings/fixtures prices by some 60-70 per cent compared to what he would have paid three years ago. Apart from the new Robin Hood store itself, Mr Schaefer confirmed that he also plans to construct -beginning in December or the New Yeara $4-$4.5 million, 44,000 square foot, two-floor shopping centre on the same four acre property. It will be located in front of Robin Hood, closer to the actual roadway itself. Im sure youre looking in the hundreds, he said, when asked about the number of jobs set to be created by his expansion venture. Theres hundreds of jobs to be created within the next 10 months. Robin Hoods $30$40m growth plan FROM page 1B

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that led to the situation. He said the move would bring further hardship and undue burden on an industry w hich is trying to grow at a time when they are being or may soon be squeezed by increases in other Customs duties, Civil Aviation andB usiness Licence fees, as well as a lowering of rates by their main competitor, Bahamasair, which is government-subsidised. But Mr Gomez said: We are seeking to collect whats houldve been paid before. A sked whether the airlines will be asked to pay in one lump sum or can pay in phases, the Customs chief said the department is not unreasonable. If thats what needs to be done we can look at that, he said. Mr Gomez would not reveal which airlines have so f ar been found owing duty, h ow many of them there are or exactly what they may be deemed to owe. He said that in some cases the aircraft on which duty was outstandingh ave been in the country for several years. As for the penalty that could be imposed, the Comptroller said: Everybody would more than likely bet reated similarly, but once we have sat down with everybody then it will be determined, understanding and appreciating that some people may have done what they did in ignorance, although thats not t he case with everybody. If you were ill-advised we could take that into considera tion, but there are others who have been in business for q uite some time and are well aware of rules and regulations g overning planes coming into the country. Mr Gomez said the Departm ent intends to step up its vigilance regarding planes being brought into the country. Asked how Customs has overlooked the planes on which duty should have been levied until now, he said: Some people go and purchase a plane and then have a foreign pilot carry it into the country. Some may bring ina plane and they may tell us that theyre looking at using the plane for a short time to see if they like it before deciding if theyre going to purchase it. Often times the person c hecking in that person may not see that plane being flown inter-island. Different offices d o different tasks. Andrew Kelly, of Abaco A ir, said he believes Bahamian airlines should be given s pecial consideration when it comes to duty. They are an important p art of the Bahamas because of the geographics. We need them to help move Bahamians and tourists around, and anything the Government can do to assist with this would be great. The aviation business is a very regulated business. We have a lot of expenses, insurance, fuel, landing f ees, so many regulatory things to deal with. Probably, if youre lucky, yoiu mightm ake 10 per cent at end of y ear. If they do this they might as well close us down. Right now, were just strug-g ling to pay staff. If they impose that on operators it w ill kill us all. A rmbrister, who told Tribune B usiness two weeks ago that E xumians were disappointed a t the lack of trickle-down impact from Sandals on the islands economy, which he connected with its all-inclus ive model. M r Hart said that since the re-opening of Sandals and the i ntroduction of increased airlift to Exuma, such as direct flights from Toronto, exposure for the development is up, although potential i nvestors are more cautious. People have become more discerning now they are notb uying into every start-up project or every dream on the island they are looking for things they know are stable and will be there in a couple of years, and I think thats one of the selling points for our d evelopment. We have the critical mass of infrastructure in place, said Mr Hart. Mr Hart described the business environment in recent years as a survival of the f ittest. A few years ago we wouldve had dozens of comp etitors. Now theres a very short list of developments in the Family Islands in terms of planned high-end boutique resort communities. Theresa short list of survivors, excluding Nassau and Grand Bahama, said the managingd irector of the 80-acre community, which offers rentals, fractional ownership and custom homes. N onetheless, Mr Hart spoke up at the Exuma Busi ness Outlook seminar on W ednesday to question Min ister of State for Finance, Zhivargo Laing, on how much o f the millions in stimulus the Government has sought to inject into the Bahamian economy through capital works projects had benefited Exuma, suggesting theres a long shopping list of outs tanding infrastructural needs on Great Exuma that need to b e addressed for the benefit of locals and visitors if growth is to be maximised. Primary among these, according to both Mr Harta nd Chamber of Commerce president Mr Armbrister, are the medical facilities or lackt hereof. Mr Hart and Mr Armbrister suggested that the inadequacy of the health clinic at a time when Exumas population has been recorded as having more than doubled int he last decade is costing the island. Speaking at the Outlook s eminar, Mr Armbrister said: Exumas economy again is experiencing significant setb acks because of the fact we d ont have adequate medical care. A young lady said to me her child was experiencings eizures on an ongoing basis. They had to take a flight to Nassau and it cost them $ 5,000. Then, when they got t o Nassau, they looked at the child, gave the child a shot, and said: This is what you came for?. If the economy of Exum a is to be restored and sustainable then a number of things need to happen somep rivate sector, some by government and I think infrastructure improvement is one o f those things we need. M eanwhile, Mr Hart told T ribune Business that when he recently broke a bone in h is foot, he had to fly to Nas sau because of a lack of x-ray facilities or even a pair ofc rutches on the island. The population has effect ively doubled in a decade but the infrastructure has declined, said Mr Hart, speaking more generally of infrastructural conditions. Georgetown is in dire need, he added, echoing director-general of tourism D avid Johnson, who earlier told the seminar that the dilapidated government dockm ust be replaced, a heavy cleaning of Georgetown should take place and a halt ing of emissions of untreated s ewage into local harbours must stop. C M Y K C M Y K BUSINESS PAGE 4B, FRIDAY, OCTOBER 29, 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 $P/EYield 1.261.00AML Foods Limited1.011.010.002,0000.1500.0406.73.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.84Bahamas Waste2.842.840.005000.1680.09016.93.17% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.2410.470.2314,7901.2270.3108.52.96% 2.842.36Colina Holdings2.362.360.000.7810.0403.01.69% 7.005.40Commonwealth Bank (S1)6.596.50-0.0934,6370.4220.23015.43.54% 3.651.63Consolidated Water BDRs1.861.890.030.1110.04517.02.38% 2.551.60Doctor's Hospital1.771.770.000.1990.1108.96.21% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.29Finco7.297.290.001500.2870.52025.47.13% 11.408.77FirstCaribbean Bank9.749.740.000.6450.35015.13.59% 5 .513.75Focol (S)5.465.460.005400.3660.21014.93.85% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5 .595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.92J. S. Johnson9.929.920.000.9710.64010.26.45% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7 %RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029THURSDAY, 28 OCTOBER 2010B ISX ALL SHARE INDEX: CLOSE 1,488.77 | CHG -2.14 | %CHG -0.14 | YTD -76.61 | YTD % -4.89BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017F INDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%3 0 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%L ast 12 Months %NAV 3MTH 1.50561.4076CFAL Bond Fund1.50564.65%6.96%1.482477 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.55791.4920CFAL Money Market Fund1.55793.37%4.42%1.539989 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.56421.47%2.95% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.13181.0000FG Financial Preferred Income Fund1.13183.85%5.22% 1.09691.0000FG Financial Growth Fund1.09692.71%6.44% 1.13201.0000FG Financial Diversified Fund1.13203.79%5.71% 9.69389.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.69383.77%5.71% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.5308-2.23%4.10% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.4372-5.63%-5.63% 7.96644.8105Royal Fidelity Int'l Fund Equities Sub Fund7.88302.15%6.29% 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 30-Sep-10 30-Sep-10 30-Sep-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Sep-10 30-Sep-10 30-Sep-10 30-Sep-10 31-Aug-10MARKET TERMS30-Sep-10 NAV 6MTH 1.460225 2.911577 1.524278 107.570619 105.776543 30-Jun-10 30-Sep-10 30-Sep-10 30-Sep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page 1B Developer sees 20% rise in rental prices Airlines grounded by Customs over aircraft sums owed FROM page 1B RANDYBUTLER

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C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM -RE9DFDQF\$QHVWDEOLVKHGDVVDXEDVHGFRPSDQ\VHHNVWROOWKHSRVLWLRQRI $ VVLVWDQW)LQDQFLDO&RQWUROOHU $OODSSOLFDQWVSRVVHVVWKH IROORZLQJ 3DVVLQJJUDGHVRQDOOSDUWVRIWKH&3$H[DPLQDWLRQ \HDUVH[SHULHQFHZRUNLQJZLWKDQ$FFRXQWLQJUP 6WURQJDQDO\WLFDOVNLOOV 6WURQJRUJDQL]DWLRQDOVNLOOVZLWKWKHDELOLW\WRZRUNLQGHSHQGHQWO\ $ WKRURXJKZRUNLQJNQRZOHGJHRILFURVRIW([FHO 7KH DELOLW\WROHDUQTXLFNO\ ([FHOOHQWFRPPXQLFDWLRQDQGWHDPZRUNVNLOOV 7KH DELOLW\WRPDQDJHPXOWLSOHWDVNVDQGUHVSRQVLELOLWLHV VLPXOWDQHRXVO\,QWHUHVWHGSHUVRQVVKRXOGVXEPLWWKHLUHVXPHV YLDHPDLOWRDVVWQDQFLDOFRQWUROOHU#KRWPDLOFRP$ OOUHVXPHVPXVWEHUHFHLYHGE\ W K 1 RYHPEHU 2QO\SHUVRQVPHHWLQJ$// RIWKHUHTXLUHPHQWVDERYHQHHGDSSO\ that Bahrain may not provide a relevant comparison, BTC s aid. If the non-Caribbean tariffs were removed from URCAs sample, the Bahamas would have the lowest cellular termination rate, well below the regional average of around $0.14 per minute. We suggest that based on t he above comparison, the first indication (and indication only is that BTCs suggested rate for mobile termination rates are low by regional standards, BTC argued. In fact, they are 47 per cent lower than the straight average presented (BTCs 7.24 cents per minute v ersus a regional average of $13.6 cents per minute, excluding the proposed Bahamas tariff). URCA had argued that the cost base used by the Bahamas Telecommunications Company (BTC connection offer was effectively over-valued by 70 per cent, resulting in it significantly reducing the tariffs the stateowned incumbent proposed to levy on rival operator. URCA said that prior to the interconnection costs adjustment, a benchmarking exercise showed that BTC's per minute charges for calls terminating on its fixed-line network were "significantly higher than those in any of the competitor countries". BTC's initial 3.35 cents per minute for terminating interisland calls was "twice as high as the sample average", but the revised fixed-line termination rates were "more in line" with rivals, below the likes of Malta, Trinidad and Anguilla. However, even the revised fixed-line termination rates were higher than the sample average. As for network transit charges, BTC's proposals were described as "very high compared" to the other sample countries, with the sample average excluding the Bahamas standing at 0.61 cents per minute well below the four charges proposed by BTC. The revised charges imposed by URCA brought BTC more into line, but transit services using two interconnection points would still be "the highest". While BTC's on-island cellular call termination charge of 7.24 cents per minute was lower than other Caribbean jurisdictions, its call charge for the emergency services was the second highest even with the URCA-imposed reductions. FROM page 5B B TC hits out at a flawed URCA study

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although it will be substantially less than the $54 million t hat BSL Holdings paid Winn-Dixie in 2006. The deal between BSL Holdings which is majority owned by Trinidadian conglomerate Neal and Massy and Associated Grocers of the Bahamas Limited (AGBL subject to regulatory approval and due diligence, and is expected to close on or before November 5, 2010, said Mr Winford. He did not name who was b ehind Associated Grocers of the Bahamas, describing this as an interesting question when contacted by Tribune B usiness, but this newspapers inquiries revealed that it is at least affiliated with Bahamas Food Services and Mr Frisch. I t is possible that the company is Bahamas Food Services by another name, but that c ould not be confirmed at p ress time last night. If the deal is concluded, it w ill create the Bahamas first integrated wholesaler/supermarket retail operation, and c ould upset the apple cart in both industries. Mr Frisch, w ho owns Jacksonville-based Beaver Street Fisheries, parent of Bahamas Food Services, and his management team were yesterday said toh ave contacted their other Bahamian retail customers to see if they could continue to buy from the Bahamian wholesaler if the City Markets deal went through. Concerned It would thus appear that B ahamas Food Services/Mr F risch are concerned about following the example of Solomons, who lost numer-o us retail customers when it w ent into retailing. However, Bahamas Food Services is the dominant player in supplying meats and other produce to the Bahamian restaurant andh otel sector, including Atlantis, and would thus have a cushion if it lost any retail customers. And the company now has a direct retail outlet through w hich is can distribute its products, with the integrated r etail/wholesale model allowing it to obtain better margins, control costs and sell exclusive product lines. Bahamas Food Services leading position in the wholesalem arket was recently strengthe ned through its acquisition o f Prime Bahamas, adding 1100 stockkeeping units (SKUs existing 8,000, creating a company with 8,000 SKUs. It may be too much of a c ontrolling interest in one pers ons hands, a source said, s uggesting that Bahamas F ood Services and Mr Frisch were now doing their due diligence. T he Bahamas Food Serv ices/Frisch purchase of City Markets, if it goes through, is likely to cause some consternation among other wholesalers/grocery retailers. Manyi ndustry observers had privately questioned to Tribune Business why the wholesaler would be interested, given City Markets immense problems and $27 million in col-l ective losses suffered in the four years under BSL Holdi ngs ownership. They queried why anyone would want to take the company over, given the union, pension fund and staff separation package issues, plusa ssociated costs. Many groc ery industry observers had s uggested the obvious course would be to let City Markets slide into administration/receivership, letting interested parties cherry pick the assets they w anted. T he deal shows that Neal & Massy has been rapidly s hopping City Markets around to a variety of buyers. Apart from AML Foods, Tri-b une Business understands t hat both Robin Hoods Sandy Schaefer and Supervalues Rupert Roberts were approached to see if they were interested, with the price said to range from $10-$25 million. The latter two had no interest, Tribune Business understands. Yesterdays statement from Bahamas Supermarkets added that after closing the transaction, it is expected that the company under its new ownership will continue to operate City Market stores while it develops a rationalisation plan. Mr Winford said: The Bahamas food retailing landscape has changed dramatically over the last few years, and Associated Grocers brings the necessary tools and resources to reengineer and revitalise BSLs operations to make it a viable, competitive and profitable company. Preserved We expect that after the transformation a significant n umber of jobs will be preserved and this was the main m otivation behind the transa ction. An unidentified spokespers on for Associated Grocers said: City Markets has a long history of food retailing in the B ahamas and is part of the fabric of the community. We a re confident that the compan y will thrive under our stewardship and regain the prominence it enjoyed in years past. Mr Winford noted that the 22.238 per cent of Bahamas Supermarkets owned by the B ahamian public is unaffected under the transaction. He added that he was optimistic the company would be restored to profitability quickl y, and shareholder value would soon reflect the improvement in the compan ys financial position. Elgin Douglas, president of the Bahamas Commercial Stores, Supermarket and Warehouse Union, which represents around 300 of City Markets employees, held a m eeting yesterday with Mr Winford prior to the announcement of the deal, in which he said he felt assured t hat employees jobs would be safe whatever happens. The first priority is the w orkers, said Mr Douglas. A lthough the wording of Mr W infords later statement i ntroduced a level of uncert ainty into the equation, the u nion president said that he w as under the impression e mployees will not be laid off whatever happens. C M Y K C M Y K BUSINESS PAGE 6B, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 127,&( &20021:($/7+)+(%$+$0$6 ,1+((0(&2857 (TXLW\ 127,&( 7KH3HWLWLRQRI /(<921$1'-2<&(/<1 0,//(5 LVLQUHVSHFWRIWKHIROORZLQJSDUFHORI ODQG $//7+$7 SLHFHRUSDUFHORUWUDFW RIODQGFRQWDLQLQJWRWDODFUHDJHRI6HYHQ 7KRXVDQG6L[+XQGUHGDQG(LJKW VTXDUIHHWVLWXDWHLQ6XEGLYLVLRQFDOOHGDQG N QRZQ DV (QJOHUVWRQ6XEGLYLVLRQLQWKH&HQWUDO 'LVWULFWRIWKH,VODQGRI1HZ3URYLGHQFHRQH R I WKH,VODQGVRI7KH&RPPRQZHDOWKRI7KH &RSLHVRIWKHSODQPD\EHLQVSHFWHG G XULQJWKHIRUPDOKRXUVDW 7KHHJLVWU\RIKHXSUHPH&RXUW $QVEDFKHU+RXVH(DVWWU 1RUWKDVVDX%DKDPDVDQG 7KH&KDPEHUVRI.LQJGRP $ GYRFDWHVt$VVRFLDWHVRVHWWD 6WUHHWDOPGDOHDVVDX%DKDPDV 1RWLFHLVKHUHE\JLYHQWKDWDQ\SHUVRQ KDYLQJULJKWWRGRZHURUDQ\DGYHUVHFODLP QRWUHFRJQL]HGLQWKH3HWLWLRQVKDOOZLWKLQ WKLUW\GD\VDIWHUWKHODVWGD\RQZKLFKWKH DSSHDUDQFHRIWKH1RWLFHKHUHLQLQWKH 5HJLVWU\RI7KH6XSUHPH&RXUWDQGVHUYHRQ WKH3HWLWLRQHURUWKHXQGHUVLJQHGVWDWHPHQW RIVXFKFODLP)DLOXURIDQ\VXFKSHUVRQWR DQGVHUYHVWDWHPHQWRIVXFKFODLPDQG UHTXLVLWHGRFXPHQWVZLWKLQWKLUW\GD\V KHUHLQZLOORSHUDWHDVDEDUWRVXFKFODLP 'DWHGWKLVWKGD\RI-XO\ <2/$1'$.-//( $WWRUQH\IRUWKHHWLWLRQHU Have you heard the good news? You CAN save money!Ask NIBA for a motor insurance quote! Not only do you pay less with NIBA,you receive cover thats hard to beat and a claims service that doesnt keep you waiting! Its time to pay less for insuring your car!Tel.677-6422 or visit www.nibaquote.com NASSAU INSURANCE BROKERS AND AGENTS LIMITED Atlantic House,2nd Terrace & Collins Avenue P.O.Box N-7764 Nassau Tel.677-6422 www.nibaquote.com rrnt nt t ntn FROM page 1B BFS affiliate buys majority City Markets shareholding e expect that a fter the transform ation a significant number of jobs will b e preserved and t his was the main motivation behind t he transaction.

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cially if its System Resource Group (SRG through), because they would find it impossible to replicate a competing service to BTC, especially if the latter charged other operators an interconnection tariff, Cable Bahamas urged URCA to mandate zero-based interconnect rates for local termination. These, it added, should be maintained until BTC proved its local fixed-line voice tariffs were cost-based and not predatory. Cable Bahamas said: In order to allow other licensed operators (OLOs replicate BTCs local voice service offering, URCA should require that, until such time as BTC proves that its local voice tariffs are not predatory, BTCs rates for local call termination must be set at, or close to, zero. Elsewhere, Cable Bahamas said it was essential for URCA to determine whether BTCs cellular services would be priced according to whether the caller or receiver pays prior to approving the state-owned incumbents RAIO. Without this, the BISX-listed operator said it would be impossible to determine whether the RAIO, and fixed-line to cellular interconnection rates, were rea sonable and not anti-competitive. Calling for BTC to establish a direct point of interconnection with its cellular network, Cable Bahamas also expressed concern that requiring other o perators to be routed via a transit service would allow BTC to anti-competitively increase its rivals costs and, potentially, to degrade another licensed operators service quality. And Cable Bahamas also described as unacceptable B TCs plans to provide only two interconnection points with its network, one in New Providence and the other in Grand Bahama. Railing against BTCs proposal to charge national interconnection rates for islands where there was no point of interconnection, Cable B ahamas urged that these be provided for fixed-line and cellular traffic in Abaco and Eleuthera as well. For example, in the case of local calls in Eleuthera or Abaco from a Cable Bahamas subscriber to a BTC subscriber, Cable Bahamas would have to c onvey traffic to BTCs point of interconnection in New Providence or Grand Bahama, and then BTC would have to convey the traffic back to Eleuthera/Abaco to terminate the call, Cable Bahamas alleged. In such a configuration, C able Bahamas would have to support the cost of carrying the traffic on its network up to BTCs point of interconnection in New Providence or Grand Bahama, and pay for a national, inter-island, interconnect rate. It also called on URCA to mandate that BTC provide IP ( Internet Protocol) interconnection on New Providence, G rand Bahama, Abaco and Eleuthera within three months after the latters Next Generation Network (NGN deployed on those islands. Then, with one eye on its plans to enter the fixed-line voice market and the SRG integration, Cable Bahamas renewed its calls for URCA to prioritise an industry consultation on number portability, arguing that this was a key barrier to competition in the sector. Without some form of number portability in place, the development of competition in the voice market will be seriously impeded because consumers will find the inability to port their numbers a major barrier to switching providers, Cable Bahamas argued. C alling on URCA to determine interim arrangements for all licencees offering fixed-line voice services at the earliest technically feasible date, Cable B ahamas added: In light of BTCs near monopoly in the provision of fixed telephony services, its cooperation will be essential to achieving the efficient roll-out of an interim local number portability solution....... URCA should further make clear that adoption of local n umber portability is a first step towards implementation, at a later date, of geographic number portability. C M Y K C M Y K BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 127,&( 5%&),1&2,19,7(6(1'(56 $OO7+$ SLHFHSDUFHORUORWRIODQGFRPSULVLQJRI/RW 0DUVKDOO5RDGVLWXDWHGLQWKH6RXWK'LVWULFWRI1HZ3URYLGHQFH RQ RI WKHLVODQGVRIWKH&RPPRQZHDOWKRIWKH%DKDPDV6LWXDWHG WKHUHRQLV0XOWL)DPLO\5HVLGHQFH'XSOH[FRQVLVWLQJRI %HGURRPVDQG%HGURRPV 7KLVSURSHUW\LVEHLQJVROGXQGHU3RZHURI6DOHFRQWDLQHGLQ 0RUWJDJHWR ),1$1&(&25325$7,212)%$+$0$6 /,0,7(' $OORIIHUVVKRXOGEHIRUZDUGHGLQZULWLQJLQVHDOHGHQYHORSH DGGUHVVHGWRWKH0DQDJHU5R\DO%DQN&ROOHFWLRQV&HQWUH3 %R[1DVVDX%DKDPDVDQGPDUNHGHQGHU$OO RIIHUVPXVWEHUHFHLYHGWKHFORVHRIEXVLQHVV)ULGD\ WK 2FWREHU 127,&( 5%&),1&2,19,7(6(1'(56 $OO7+$ SLHFHSDUFHORUORWRIODQGFRPSULVLQJRI/RW /HYLWLFXV$GGHUOH\(VWDWHV6LWXDWHLQWKH:HVWHUQ'LVWULFWRIWKH ,VODQGRI1HZ3URYLGHQFHRQHRIWKHLVODQGVRIWKH&RPPRQZHDOWK RI WKH%DKDPDV6LWXDWHGWKHUHRQLVVLQJOH)DPLO\5HVLGHQFH FRQVLVWLQJRI%HGURRPDQG%DWKURRPV 7KLVSURSHUW\LVEHLQJVROGXQGHU3RZHURI6DOHFRQWDLQHGLQ 0RUWJDJHWR ),1$1&(&25325$7,212)%$+$0$6 /,0,7(' $OORIIHUVVKRXOGEHIRUZDUGHGLQZULWLQJLQVHDOHGHQYHORSH DGGUHVVHGWRWKH0DQDJHU5R\DO%DQN&ROOHFWLRQV&HQWUH3 %R[1DVVDX%DKDPDVDQGPDUNHGHQGHU$OO RIIHUVPXVWEHUHFHLYHGWKHFORVHRIEXVLQHVV)ULGD\ WK 2FWREHU 127,&( 5%&),1&2,19,7(6(1'(56 $OO7+$ SLHFHSDUFHORUORWRIODQGFRPSULVLQJRI/RW
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NEW YORK Retailers at the mall may be bracing for a tough holiday season, but their online counterparts are feeling more optimistic. Nearly two-thirds of retailers, or 64 percent, expect their companies' online revenue to increase by at least 15 percent compared with last year, according to a survey by the National Retail Federation's Shop.org online arm. That's up from 45.8 percent that expected an increase that size last year. The survey, based on interviews with 51 top online retailers Sept. 1-Sept. 27, also found that e-commerce companies are thinking early when it comes to Christmas marketing. Forty percent of online retailers will begin holiday marketing by Halloween, with another 40 percent planning to begin the week of Nov. 1. Still, despite solid sales prospects, merchants are not going to dump some of the Web's most alluring incentives, particularly free shipping. Four out of the five online r etailers said they'll offer free shipping at some point during the season, and nearly one-third said these offers will begin earlier this year than a year ago. Shoppers might even see more free shipping deals this year as almost 37 percent said their budget for free shipping is higher than last year; 57 percent said it would be about the same while 6 percent said it would be somewhat lower. Forecasts for online holiday sales are just trickling in. But online research firm comScore Inc. expects anywhere from 7 to 9 percent growth this holiday season compared with a year ago, when business was up 4 percent over the previous year, according to its calculations. Forrester Research is slated to come out with its forecast in the next week or two. In comparison, many economists and other groups expect holiday sales for physical stores to be up no more than 3 percent. C M Y K C M Y K BUSINESS PAGE 8B, FRIDAY, OCTOBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GN 1124 3$5),1$,19(67256*5283,1& ,QROXQWDU\/LTXLGDWLRQ RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK6HFWLRQ RIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW RI 3$5),1$,19(67256*5283,1& LVLQ'LVVROXWLRQ 7KHGDWHRIFRPPHQFHPHQWRIGLVVROXWLRQLVWKH GD\RIFWREHU 'LOLJHQWLD/WG 7ULGHQW&KDPEHUV 5RDG7RZQ 7RUWROD %ULWLVK9LUJLQ,VODQGV /LTXLGDWRU *2/'(1&5(67 ,17(51$7,21$//,0,7(' 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH ZLWK6HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV &RPSDQLHV$FWRI *2/'(1&5(67 ,17(51$7,21$//,0,7(' KDVEHHQGLVVROYHG DQGVWUXFNRIWKH5HJLVWHUDFFRUGLQJWRWKH &HUWLFDWHRI'LVVROXWLRQLVVXHGWKH5HJLVWUDU *HQHUDORQWKHWKGD\RIFWREHU -HDQLFH/DP UDGH&HQWUH %RQKDPWUDQG +RQJ.RQJ /LTXLGDWRU */(16,'('(9(/230(176/,0,7(' 1RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFH ZLWK6HFWLRQRIWKH,QWHUQDWLRQDO%XVLQHVV &RPSDQLHV$FWRI */(16,'( '(9(/230(176/,0,7(' KDVEHHQGLVVROYHG DQGVWUXFNRIWKH5HJLVWHUDFFRUGLQJWRWKH &HUWLFDWHRI'LVVROXWLRQLVVXHGWKH5HJLVWUDU *HQHUDORQWKHWKGD\RIFWREHU -HDQLFH/DP UDGH&HQWUH %RQKDPWUDQG +RQJ.RQJ /LTXLGDWRU BEIJING A leading Chinese research center has built the world's fastest supercomputer, underscoring the country's rise as a science and technology powerhouse. The Tianhe-1 machine housed at the National Center for Supercomputing in the northern port city of Tianjin is capable of sustained computing of 2.507 petaflops, the equivalent of 2,507 trillion calculations, per second. An official listing of the world's fastest supercomputers, the semiannual TOP500, is due to be issued Friday. If verified, Tianhe-1 would be faster than the U.S. Department of Energy's Cray XT5 Jaguar in Oak Ridge, Tennessee, which topped the list issued in June at 1.75 petaflops per second. China lays claim to fastest supercomputer title Holiday Shopping Notebook: Online sales to gleam NEW YORK Halloween hasn't even passed, but stores already are hoping the words "Black Friday" can work their sales magic. Retailers are offering an array of discounts, often touted as deals for an early Black Friday, the day after Thanksgiving that's one of t he biggest shopping days of the year. They're designed to get people spending early in hopes of a selling season that's better than last year's, when consumers were still spending sparsely on non-necessities during the recession. Toys R Us' annual 80-page holiday toy catalog is set to arrive at customers' homes on Sunday, and many items will be on sale through Nov. 24, the company said. The toy s eller is offering a $10 gift card for spending $75 or more and other incentives. Kohl's Corp. is unveiling a holiday campaign touting its savings programs. "Give, save and save again with the Kohl's charge," one ad reads. The department store operator will offer extended hours during the holiday season and offer shoppers $10 in store credit for purchases of $50 or more. Sears plans to offer weekly early morning sales, offered on Black Friday, beginning Friday and continuing every Friday and Saturday t hrough Nov. 20. The department store operator is also planning two-day sales during the season. Deals for this Friday include $70 off a RCA 40-inch LCD TV that retails for $569.99 and $39.99 Covington women's boots for $19.99. Sears offered similarly pitched discounts on holiday items early last year; this year it expanded the sale to two days per week. And online merchant Amazon.com is a lso offering what it is calling "Black Friday" deals beginning on Friday, on electronics such as Blu-ray players, HDTVs, video games and other products. IT'S HALLOWEEN MUST BE THE START OF BLACK FRIDAY SALES! ( AP Photo /Seth Wenig, file ) HOLIDAYCAMPAIGN: In this Feb. 24, 2010 file photo, shoppers exit a K ohls store in Paramus, N.J.

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C M Y K C M Y K INTERNATIONAL BUSINESS T HE TRIBUNE FRIDAY, OCTOBER 29, 2010, PAGE 11B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM A look at economic developments and activity in major stock markets around the world Thursday: ___ LONDON World stock markets mostly rose as traders put aside uncertainty about the size of the Federal Reserve's economy-boosting bond purchase plan to sort through a raft of earnings reports. Britain's FTSE 100 index was up 1 percent at 5,699.84 and Germany's DAX was up 0.9 percent at 6,626.35. France's CAC-40 was 1.1 percent higher at 3,857.79. Earlier in Asia, Japan's benchmark Nikkei 225 stock index closed down 0.2 percent to 9,366.03. ___ BRUSSELS Germany and France sought to convince skeptical EU partners to back new rules on state spending, which they say are needed to prevent another government debt crisis in Europe. German Chancellor Angela Merkel and French President Nicolas Sarkozy arrived at a two-day EU summit in Brussels seeking a permanent crisis resolution mechanism, which would force private creditors to bear some of the cost of bailing out a highly indebted country. They also called for stripping EU voting rights from repeat overspenders a radical measure that some say will not pass. ___ DUBLIN The interest rate on Ireland's national debt reached a new euro-era high as investors sold off Irish bonds on skepticism that the country can meet a European Union deadline for reversing its deficits. The yield on Ireland's 10-year bonds rose above 7 percent for the first time since the euro's launch 11 years ago. That broke a previ ous high of 6.9 percent reached last month as doubts swelled over Ireland's ability to tame its deficit, which is forecast this year to reach 32 percent of GDP, a modern European record. ___ BERLIN The number of Germans out of work sank below 3 million in October for the first time in two years, a sign of the country's resilient labor market. The unadjusted jobless rate sank to 7 percent in October from 7.2 percent in September, with 2.945 million people out of work, the Federal Labor Agency said. That was down 86,000 from September, a drop the agency credited both to a traditional seasonal improvement and economic recovery. ___ ATHENS, Greece Contract workers at Greece's Culture Ministry have staged another protest at the ancient Acropolis, in an effort to press the government to extend their shortterm work agreements. ___ PARIS More nationwide street protests and strikes caused travel woes even though parliament has already approved President Nicolas Sarkozy's unpopular plan to raise the retirement age. ___ LONDON A major British mortgage lender says that average house prices fell 0.7 percent in October, continuing a modest downturn since the start of the summer. ___ BEIJING China's leaders are promising to narrow its huge trade surplus and curb surging emissions of climate-changing greenhouse gases in an ambitious five-year plan to make its economy cleaner and more high-tech. The Communist Party plan also promises to encourage consumer spending to reduce reliance on exports to power growth. The plan was approved last week by party leaders. ___ TOKYO Japan's central bank cut its economic growth forecasts and kept interest rates near zero, as the export-reliant nation confrontsa strong yen and waning overseas demand. In its October outlook report, the Bank of Japan forecast the world's No. 3 economy to grow 2.1 percent in the year through March 2011 and 1.8 percent the following year. Its July assessment projected growth of 2.6 percent and 1.9 percent respectively. ___ BEIJING China said it will not use exports of rare earths, exotic minerals required by hightech industry, as a diplomatic "bargaining tool" while Washington pressed Beijing to clarify its policy following its de facto ban on supplies to Japan. ___ SHANGHAI China and the European Union have agreed to pursue jointly financed research focused on sharing and developing technologies for cleaner, less polluting and safer aircraft. GLOBAL ECONOMIC NEWS ASSOCIATED PRESS ANGELA DOLAND, A ssociated Press PARIS Strikes caused hassles for air travelers in France on Thursday, but nationwide street protests over a plan to raise the retirement age to 62 failed to draw the massive crowds of w eeks' past a sign of slackening resolve among the bill's opponents. Parliament has already approved raising the retirement age from 60 to 62, but union leaders insist they will not give up their fight until conservative President Nicolas Sarkozy actua lly signs the bill. Still, fewer protesters followed them into the streets this time, and strikes by train and oil workers have been tapering off in recent days. In Paris, demonstrators waved union flags and set off flares, while in southern Marseille, they beat drums and bleww histles. Past demonstrations h ave drawn more than a million protesters into the streets: This time, the Interior Ministryput the figure at 560,000 nationwide. The hard-line CGT union contested that number, putting turnout at 2 million. "It's true you could say the anti-reform movement is slowi ng down, but you need to ask why," Serba Germain, a 67year-old retired police officer marching in Marseille, told Associated Press TelevisionNews. "People are disappointed, they are frustrated" because the government hasn't listened. Unions and opposition part ies urged Sarkozy not to sign the law, which polls show is unpopular. He is expected to do so by mid-November, after it is cleared by France's constitutional watchdog. Socialist leader Martine Aubry urged Sarkozy to listen to the people. "We will fight until the end," she said. But Sarkozy has refused to back down, even amid two weeks of strikes that canceled trains, shut down oil refineries and left drivers struggling to find gasoline. A small number of trains were canceled Thursday, but the problem was bigger for airlines. A third of flights at Paris' Charles de Gaulle airport and half of those at the city's smaller Orly were canceled. Flights were expected to run as normal Friday. Though the strikes are tapering off, the fuel shortages they caused lingered because of refinery strikes. Some 85 percent of gas stations are now open, the government said Thursday night, but added that the Paris region and central France continued to face some difficulties. Seven of the nation's 12 refineries have voted to return to work. French protests weaken but still disrupt flights ( AP Photo /Claude Paris) STILL PROTESTING: Aerial view of oil tankers and other vessels waiting off the coasts of Marseille where oil terminals are blocked by striking workers, Tuesday, Oct. 26, 2010.

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LAYUP: Our Ladys Blue Flames player drives to the basket. DRIVE: Blue Flames Enrique Forbes drives to the basket in front of the Crushers Michael Brennen. C M Y K C M Y K FRIDAY, OCTOBER 29, 2010 THETRIBUNE PAGE 12 P AGES 13 &14 International sports news TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM B B A A S S K K E E T T B B A A L L L L E E D D D D I I E E R R A A H H M M I I N N G G T T O O U U R R N N E E Y Y DAY three (Wednesday Deacon Eddie 'Marker' Rahming Basketball Tournament was played at Freedom Park in Fox Hill. In the opener, a continuation of a game that started Tuesday night, the New Breed Warriors knocked off the Galilee Academy Crusaders 3327. Patrick Brice finished with 14 and Dino Flowers had 12 in the win. Bradshawn White had nine and Jeremy Neely five in the loss. The second game saw the Winton Stars pound the Galilee Academy Crusaders No.2 44-34. Dejan Smith scored 18 and Charles Walker had 14 in the win. Demetrius Forbes scored 12 and Savant Laing added 11 in the loss. In the feature contest, host St Paul's Baptist held off New Dimension 29-26. McClain Higgs scored nine and Tunde Davis chipped in with seven in the win. Donovan Rolle had eight and Gregory Lock hart six in the loss. T T R R A A C C K K R R E E V V S S M M I I T T H H M M E E E E T T THE Baptist Sports Council is scheduled to hold its 2010 Rev Ellerston Smith Track and Field Classic on Saturday at the Thomas A Robinson Track and Field Stadium. The meet is expected to have an official opening ceremony at 9:30am and the first event is slated to begin at 10am. The meet has been sanctioned by the Bahamas Association of Athletic Associations (BAAA Bahamas Association of Certified Officials will officiate. Competitors from at least 10 different churches and the two Baptist schools Jordan Prince Williams and Charles W Saunders are expected to participate in the under-7, under9, under-11, under-13, under-15, under-17 and open male and female divisions. There is also expected to be a race for the pastors and ministers. V V O O L L L L E E Y Y B B A A L L L L N N P P V V A A R R E E S S U U L L T T S S ON Wednesday night at the D W Davis Gymnasium, the Scottsdale Vixens took to the court and defeated the Lady Techs in three straight sets 25-23, 25-20 and 25-18. Anishka Rolle led the Vixens with seven points in the win. In a losing effort, Rochell Henfield scored six for the Techs. In mens action, Tony Simons game-high 18 points led the Scotia Defenders over the Saints in four sets 25-20, 25-18, 27-29 and 25-16. Chauncey Cooper finished with a side high 15 points for the Saints. The league is scheduled to continue tonight with another double header set for 7pm. N N E E W W S S N N E E W W R R A A D D I I O O S S T T A A T T I I O O N N O O P P E E N N I I N N G G AFTER much anticipation, the Grand Opening Tailgate Party of Sports Radio 103 will be held at noon until on Saturday at the Dew gard Plaza, Palmdale. The station will feature such per sonalities as Marcellus Hall, Denaz Jones, Jean Bubbles Minus and Ivan Showtime Francis as they broadcast sports on a 24hour basis. S S O O F F T T B B A A L L L L E E X X U U M M A A S S O O F F T T B B A A L L L L A A C C T T I I O O N N THE Exuma Church League is expected to continue its softball action Saturday with the following games on tap: 6pm Church of God Ferry vs Soul Winners 7pm Mt Carmel vs St Margaret's Stuart Manor 8pm St Peters vs Church of God of Prophecy 9pm Gilead Full Gospel vs Palestine Baptist C C A A F F L L F F O O O O T T B B A A L L L L THIS weekends Commonwealth American Football League schedule is expected to feature a matchup of undefeated teams with the V8 Fusion Stingrays taking on the Jets, while the Orry J Sands Pros are all set to face the Sunburners. B B O O W W L L I I N N G G CONSIDERED a fringe sport, bowling looks to raise its profile in the capital now that the proper facil ities exist. Marios Bowling and Entertainment Palace seeks to part ner with schools throughout the country. So far, Garvin Tynes Primary has been the lone school to take advan tage of the programme and has brought dozens of young new players to the game who previously did not have the opportunity. SPORTS IN BRIEF N ational F ootball League Picks: Week 8... See page 14 By BRENT STUBBS Senior Sports Reporter bstubbs@tribunemedia.net I t was payback time for Our Ladys Blue Flames yesterday as they avenged their sweep by the St Bedes Crushers in the Catholic Diocesan Primary Schools basketball championships. In a game that was delayed Wednesday because of rain, the Blue Flames routed the Crushers 23-9 to hand the defending champions St Bedes their first loss in two games. It was Our Ladys third win in four games, but coach Rohan Parks is already looking past the regular season and has his team eying the championship title this year. We had a rivalry going from last year. They beat us by one point in the first game of the final before they won the title in the second game, Parks painfully remembered. We have a fairly young team this year, but its very balanced. We just have to stay mentally tough and once we can establish our game around our star player, any thing but the championship would be a failure. With so many of the top players graduated from the league, Deangelo Mackey, who quietly assumes the role as the leading player this year,i gnited the Blue Flames with a game-high 15 points. Although he single-hand edly did the damage against St Bedes on their home turf, Lucentre Paul chipped in with two points. The Crushers, who havent p layed since they won the season opener against the St Thomas More Sparks on October 18, got five from Makarios Russell to lead a balanced scoring attack. We practiced almost every day, but what we practiced, the guys didnt come out here and executed, said coach Ricardo Freemantle, who works along with Donnie Culmer. I think if we had passed the ball a little more, rather than hogging it, we would have played a lot better than we did. But we had some guys who played well and some who didnt. Despite not having played a game in over a week, Freemantle said it shouldnt be any excuse because we practiced. We just didnt execute what we did in practice, he added. Last year with the go-toman in Kyle Flash Turnquest, the Crushers always found a way to rally from a deficit. This year, they dont have that leader who can take over a game. That was what Deangelo Mackey did for Our Ladys. The Blue Flames opened a 3-0 lead and they were able to hold on for a 6-3 advan tage as Mackey paced the way with four points, including 2of-4 free throws. It turned out to be a defensive battle in the second quarter as both teams held the other scoreless, despite the fact that they both had numerous opportunities to score. But to start the third, it was Deangelo Mackey, who once again came up big. He opened up with a lay-up and Our Ladys went on a another 6-3 spurt to post a 12-6 margin at the half, thanks to two consecutive jumpers from Paul. Just like he did in the third, Mackey opened the fourth on a jumper and Enrique Forbes added another to extend their lead to 16-6. St Bedes got on the score board in the quarter on Michael Brennens jumper for a 16-8 deficit. But that was the closest they came the rest of the way. Mackey was unstoppable down the stretch as he did just about everything it took to win rebound, pass and score as Our Ladys celebrated at St Bedes. Payback time! Blue Flames avenge sweep with rout of Crushers TOP PLAYER: Blue Flames Deangelo Mackey handles the ball yesterday. Our Ladys won 23-9. P h o t o s b y F e l i p M a j o r / T r i b u n e s t a f f BLOCK: Crushers Stevejay Whylly gets a block. BALL HANDLER: Crushers Makarios Russell in action.