Citation

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

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Full Text
THE TRIBUNE =
i
it , —_ — - / — —= = —_—"

BAHAMAS FIRM'S
VESSEL SEIZED ON
9126K DEBT CLAIM

By NEIL HARTNELL
Tribune Business
Editor

A BAHAMIAN ship-
ping company has had one
of its key vessels seized by
US marshalls via court
order and impounded in
Palm Beach, after it was
alleged not to have paid
the Palm Beach Shipping
Agency $126,347.19 for
shipping-related services.

Nassau-based Dean’s
Shipping Company has
seen its MV Legend ves-
sel seized, and placed in
the care of US-based
National Maritime Ser-
vices, due to the dispute
over alleged non-payment
of stevedoring, wharfage
and other fees between
October 18, 2010, to the
present.

Dean’s Shipping has
served notice of its intent
to defend the matter and
rescue its vessel, although
court documents obtained
by Tribune Business show
it has yet to do so.

In its lawsuit, the Palm
Beach Steamship Agency
alleged: “Since October 18,
2010, plaintiff provided
necessaries to the [MV
Legend], to-wit: labour,
wharfage, advances and
other services pursuant to
an agreement between
plaintiff and vessel’s own-
ers, charterers, and/or
authorised agents on a
fixed rate basis.

“The defendant vessel
has failed to pay for these
services at plaintiff’s office
in the amount of
$126,347.19 despite repeat-
ed demand for payment
submitted to the defendant
vessel, Legend II, and/or
her owner, charterer or
operator, defendant
Dean’s.”

The Palm Beach
Steamship Agency is seek

SEE page 5B

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



Be ene eT Beate
and experience the amazing
luxury Pree et ere) rai The
ier

MONDAY,

By NEIL HARTNELL
Tribune Business Editor

BUSINESSMAN Mark Fin-
layson is withdrawing his $12
million ‘hostile takeover’ bid to
acquire a 51 per cent majority
stake in AML Foods, after the
Associated Bahamian Distillers
and Brewers (ABDAB) Board
decided the company’s share-
holders would gain better
returns from City Markets’
organic expansion instead.

Speaking with Tribune Busi-
ness following last week’s
ABDAB Board meeting, Mr
Finlayson said that while the
directors approved the acquisi-
tion of the 78 per cent Bahamas

FEBRUARY 28,



2011

=

BREITLING

* ABDAB Board turns down deal due to ‘not enough value’ being
contained in $1.50 per share premium

* Mark Finlayson instead instructed to pursue organic City Markets
growth through three ‘SuperCentre’ sites

* Board does approve share swap deal for 78% City Markets deal,

pending valuation

* Instructions also given to explore M&A possibilities with Robin
Hood, Phil’s Food Services

Supermarkets stake owned by
his family’s 100 per cent-con-
trolled investment vehicle,
Trans-Island Traders, they felt
there was “not enough value”
for ABDAB shareholders in his
$1.50 per share offer to AML

Concerns Commission
acted ‘outside powers’

By NEIL HARTNELL
Tribune Business Editor

THE ‘hostile’ bidder for
BISX-listed AML Foods
has expressed concern that
the Securities Commission
acted outside its statutory
powers by attempting to
impose takeover guidelines
on the offer as if they were
laws, adding that the share
suspension implemented
last week only hurt smaller
investors.

Mark Finlayson, speaking
after he decided to with-
draw his $12 million, $1.50
per share offer to acquire
AML Foods at the behest
of the Associated Bahami-
an Distillers and Brewers
(ABDAB) Board, ques-
tioned whether the capital
markets regulator had acted
“ultra vires” in seeking to
impose guidelines that, at
the moment, have no basis
in Bahamian law.

“T think, as any first-year
law student will tell you
after doing contract and
administration law, that
every government depart-
ment has to be very careful
not to act ultra vires,” Mr
Finlayson told Tribune
Business.

“T really think the Com-
mission acted outside its
powers in suspending these
shares. They justified it by
Section 54, but on what
basis did they exercise Sec-
tion 54? That’s the ques-
tion. These are [Takeover]
guidelines that have not
been considered by the
Cabinet, the House of
Assembly, the Senate, and
they were acting as if these
were laws.

“The guidelines they put
forward, they were acting
as if these were laws, and
that’s where my disagree-
ment with the Commission
comes in. I believe they

were acting Ultra Vires
their powers. They should
not have got the two things
confused.”

In the absence of a
Takeover Code contained
either in statute or regula-
tions, the Securities Com-
mission had been attempt-
ing to get Mr Finlayson and
AML Foods to agree on a
process for his ‘hostile’
offer, based on draft stan-
dards and best practices
they will shortly issue for
consultation.

However, no agreement
was reached, and the Secu-
rities Commission last week
suspended trading in AML
Foods’ shares indefinitely,
fearing that an orderly mar-
ket in them had been dis-
rupted by everything
swirling around the
takeover. In particular, the
regulator was said to be
especially exercised by
comments such as Mr Fin-
layson saying he had 20 per
cent of AML Foods’ shares
“locked up”.

“But what

did that

achieve,” Mr Finlayson
questioned of the share sus-

SEE page 8B



Foods’ investors.

Mr Finlayson said that as a
result, he and his father, Sir
Garet ‘Tiger’ Finlayson, as
Trans-Island’s owners decided
to withdraw their bid to acquire
a 51 per cent majority stake in

307% PRICES FALLS

OSE ay

By NEIL HARTNELL
Tribune Business
Editor

Price decreases of “at
least 30 per cent” on
average compared to
2007-2008 levels have
helped to stimulate activ-
ity in the Bahamian real
estate market, a leading
realtor believes, with sell-
ers no longer “living in
la la land” and realising
that current market lev-
els may be here to stay.

George Damianos,
president of Lyford Cay
Sotheby’s International
Realty, told Tribune
Business that increasing
realism among Bahamas-
based property sellers
was helping to revive
transaction volume, as
they had adjusted prices
and expectations to the
new economic climate,
coming down to levels
that would interest val-
ue-seeking buyers.

“The reason this mar-
Ket has picked up is that
prices have come down

SEE page 7B

BISX-listed AML Foods, thus
bringing to an end the first ‘hos-
tile takeover’ attempt in the
Bahamian capital markets his-



tory.

SEE page 5B



BUSINESSMAN
Mark Finlayson

CITY MARKETS SUPERCENTRES
IN “SIX-SEVEN MONTHS TIME’

* Supermarket chain to ‘move right away’ on three 55,000
sq f{t sites, although Freeport may take 12-13 months

* Staff complements per store may number 35, rather than

average 50

By NEIL HARTNELL
Tribune Business Editor

CITY MARKETS plans to
“move right away” on the $12
million transformation of
three Associated Bahamian
Distillers and Brewers
(ABDAB) owned properties
into City Markets Super-

Centres, the companies’ prin-
cipal telling Tribune Business
that the two sites in Nassau
could open in six-seven
months time.

Mark Finlayson, speaking
after ABDAB’s Board
approved the acquisition of

SEE page 4B

BAHAMAS AIRLINE TARGETS
APRIL 1 FOR US SERVICE

Adding 20 staff, and acquiring
another $1.4 million plane

By NEIL HARTNELL
Tribune Business Editor

A LEADING Bahamian-owned airline is
looking to start service to Fort Lauderdale
from Nassau and Freeport on April 1, and
is in the process of hiring more than 20
extra staff and acquiring another $1.4 mil-

lion plane.

SEE page 4B



Sky Bahamas chief
executive Captain
Randy Butler





















The Superocean Heritage 46

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PAGE 2B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE

ee els



By ROYALFIDELITY
CAPITAL MARKETS

IT WAS a slow week of
trading in the Bahamian stock
market. Investors traded in six
out of the 24 listed securities,
with no advancers and five

volume of 1,000 shares to see
its stock fall $0.52 to close at
$5.48.

Bank of the Bahamas
(BOB) traded a volume of
1,000 shares, its share price
falling $0.02 to close at $4.40, a
new 52-week low.

Finance Corporation of the
Bahamas (FIN) released its
audited financial results for the
year ended October 31, 2010.
FIN reported net comprehen-
sive income of $18.2 million for
the year compared to $4.6 mil-
lion in the prior year, repre-

EQUITY MARKET - TRADING STATISTICS

Week ending 25.02.11

BISX SYMBOL...CLOSING PRICE.....\WKLY PRICE CHANGE ........ VOLUME ........ YTD PRICE CHANGE

decliners. Commonwealth Bank senting an increase of $13.7 AML... eects $1.04 ccc cceeceseeees Da eececsesscsessesseeseeseesees O veececseceeseeseessseeees 7.22%
(CBL) traded a volume of million or 298 per cent. BB Lcssseevessceesssetees DONS sescssceceesesseseseeasoesss Geese: Ove 00%
EQUITY MARKET 1,000 shares to see its stock Net interest income of $28.2 i _ 9
Bit cl 6s0-beres een 900 eds Wllion na amo ee BOB... eeeereeeees $4.40. ecceteeeeeeeeeees $0.02 ooeeeecececssseseeeees L500 wee eeeeeeeee 10 oe
changed hands, representing $6.80. of $73,000, compared to $28.3 BPF Boece eee eee seeeeeneees $10.63 Pee eee ee eee n eee ee eens seees $- OOS ESOT TSS e TST eee eT eT eee eT ers 0 Pee e eee ee ee en eee eeeeeeees 0 00 %
a sharp decrease of 56,060 FamGuard Corporation million in the previous year, SLs reeeeeesisse BOSOM eeseaaseserecesscrecaeass. De aes eteceasaeaeneeseteease Oe aaeactens 0.00%
shares compared to last week's (FAM) traded a volume of while total non-interest BWL ues $2.70. eececcssesesseseeeseesesees Da ececceceesesseeeeteeseeeeees O) ceeceeseseeseeeeeeseeees 0.00%
trading volume of 74,710 1,000 shares, its stock falling expense increased from $12.2
hares: $0.22 to close at $5.25, a new million in 2009 to $12.3 million CAB vrscsccseseseeseivs $10.21 oe eceeeseeereeeeees Do eeeeeeesseeeeoes assests: T5O vecsecsseseeseeseesees -2.39%
Finance Corporation of the 52-week low. during 2010. CBL woe ceececceeteeee PO.BO. cc cccsccseceseeeees $-O.05 vocccccscseseeseees 6,150 voeeeeceeeteeeeee -2.86%
Bahamas (FIN) was the vol- Allowance for credit losses CT sescsrsssenesnsccescs $2 A eorcramemeannmcteen Geeeeoeceees Cees: 0.00%
ume leader, trading a volume BOND MARKET stood at $1.3 million, a sharp CIB $9.39 $- 0 0.00%
of 8,250 shares to see its stock No notes traded during last decline from the $15.1 million Bee eeceecceccceescceces aD TF ccnccccececcseeessesseessseeseny scene sees eees seen esses sessssse dt ssnesssesesesseseeesssees Oo
fall $0.26 to close at $6.25, a week. reported in 2009. FIN man- CWCB 2... eee D2 eeeeeeeeesteces $-0.03 ...eeeseseseseceeeeeeeeee Oveeeeneee: 18.58%
new 52-week low. agement said the decline came DHS... $1 AQ. cccecceeeceeeeeees De sevesesearestassssetsssss teas Ooeesssetteeeescsstisss -12.50%
FOCOL Holdings (FCL) = COMPANY NEWS about after review of its provi- FAM veessssssccsssseee $5.25 vecsssssssssessensssee B-0.22 aecssscseessseeen 1,000 -13.51%
was the big decliner, trading a Earnings Releases: sioning policy, whereby the ie ji
provisioning ratio was reduced FBB... ee ceeeeeeeees DQ eeececeseeeeseesseeseeeeees Do ececccceseeeseeeseesesees Oneecesccseseeseeseeeeees 0.00%
to 30 per cent of non-accrual FCL woeceeeeeeteeees G5 .4B Le eccceseeeeeseeteeeee $-O.52 oo eeeceteteteeeeeeee 1,000 wees 0.37%
a instead of 40 - cent. ; FCLB ooeesccscssssssse $1.00 .cesssesssseeessssscccssssee Be cecccccsssssssssnnuneeessseees Onssssseesseessssescecsen 0.00%
arnings per share as a
December 31, 2010, were FIN. eeeceeseeeeees $O.Q5 eececccssceseeseseseeeees $0.26 coceccceseccsseseeeees 8,250 veeeeesesceseeeeeee -13.55%
$0.68, up $0.51 when compared NC) ccessaneesecennecsess D7 AO ceeccccccccessssesseeeees Da eecccccscsesseesesesseeseeees Oe ieoetcpeeeeneceneesseees 0.00%
to $0.17 in the comparative IST voeecstessesseeesseees $9.82. ceccsssescssteceesneeesene SS ses esessrarermmnonedsatsoesss O veescssssssessssssseeeee 0.00%
ped. PRE vescessssssesssee $10.00 ccsscsssecssesesseeese Fe cceereastnaioiseeseeet Oveecsstssesesssense 0.00%

Registration for the first session of the
“Learn to Swim” program will take place at
Queen‘s College poo! on
Saturday, March 5th, 2011

Total assets at year-end
October 31, 2010, stood at $967
million compared to $908 mil-
lion at October 31, 2009, while
total liabilities were $867 mil-

BOND MARKET - TRADING STATISTICS

from 000m to 11:00am lion compared to $826 million BISX SYMBOL DESCRIPTION VOLUME PAR VALUE
ALL swimmers, HEW or RETURHING, MUST register: at the previous fiscal year-end.
yraaeadiNok FBB13 FBB Series C Notes Due 2013 0 $1,000
(1) LEARN TO SWIM FOR CHILDREN ividend Notes:
Commonwealth Bank FBB15 FBB Series D Notes Due 2015 0 $1,000
( ) LEARN TO SWIM FOR ADULTS (CBL) has declared a dividend
of $0.06 per share, payable on FBB17 FBB Series A Notes Due 2017 0 $1,000
February 28, 2011, to all ordi-
nary shareholders of record FBB22 FBB Series B Notes Due 2022 0 $1,000
; r date February 15, 2011.
Pe f OO — F dc INTERNATIONAL
ff . _ / amguar orporation
re y C Ty) , (FAM) has declared a dividend INTERNATIONAL STOCK MARKET INDEXES
fh , = of $0.06 per share, payable on MARKETS
ot S March 2, 2011, to all ordinary 0
ee shareholders of record date FOREX Rates Index Weekly Change
Visil our website for registration forms, | February 23,2011. Currency Weekly % Change DJIA 12,130.45 -2.10
start dates, prices and full AGM Notice:
swim schedules: Finance Corporation of the CAD 1.0232 0.84 en Fave ieatees tae
www. barracud aswimming. OFq | Bahamas (FIN) has announced NASDAQ 2.781.05 4.87
. its AGM will be held at the GBP 1.6119 “0.76 a
3 ~ = British Colonial Hilton Hotel EUR 1.3750 0.45 Nikkei 10,526.76 -2 94



on March 17, 2011, at 6:30pm.

Villas at Grand Isle, Exuma, Bahamas

FOR SALE

S)villas at Grand Isle,
the Emerald Bay master development,

located on the island of Cireat Exuma,

are available

within
With

for sale,

breathtaking views, exquisite interior designs and top of the line
furnishings, the villas are distinctively decorated and designed. The units
feature 9° high vaulted ceilings, master suites with a private balcony and
All villas include full-
sized bathrooms, furnished with a whirlpool tub, oversized showers with
seating, marble vanity tops, mosaic tiling and Kohler fixtures. Kitchens
include Sub-“ero refrigerators, oven and range stoves, microwaves,
wood cabinets, granite countertops and double-basin stainless steel sinks.

French sliding glass doors overlooking the beach.

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being offered for sale by the Receivers and Managers of the villas.
Interested parties should contact the
additional information:

Receivers and Managers for

Simon Townend
KPMG Restructuring Ltd,
PO Box N 123

Montague Sterling Centre
East Bay Street

Nassau, Bahamas

Juan (John) Lopez
KPMG Restructuring Ltd,
PO Box F 40025
International Building
West Mall Drive
Freeport, Bahamas

ia ‘ f ig
Tel: (242) 393-
Fax: (242) 393-

Tel: (242) 352-9384
Fax: (242 352-6862

2007

79

4, Fat a a -
a rent

atts mitra eee agate

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a RR En sg

Limited-time offer, reserve today. Call 242-363-3680

utd ux Tote) lacs

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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 3B







DIONISIO
D’AGUILAR

AML chief warned: Ready for ‘neofights’

CITY MARKETS’
chief executive has
warned AML Foods
chairman, Dionisio
D’ Aguilar, to prepare for
“neofights”, following his
characterisation of the
rival supermarket chain’s
management team as
‘neophytes’ over their
alleged lack of food retail
management experience.

Describing how she
read Mr D’Aguilar’s com-
ments with “some degree
of amusements”, City
Markets chief, Benita
Rahming, said they were
“a blatant disregard for
the combined profession-
al experience of this
female management team
and the ability of women
in these respective roles”.

She added: “The new
owners and management
of Bahamas Supermar-
Kets, the parent company
of City Market, is very
committed to creating a

COMMONWEALTH OF
THE BAHAMAS

IN THE SUPREME COURT
Equity Division

BETWEEN

IS THE MATTER OF THE
QUIETING TITLE ACT, 1959

AND

AML Foods eyes new food
store in southern NP

By NEIL HARTNELL
Tribune Business Editor

AML Foods’ chairman yesterday
expressed delight that the $12 mil-
lion ‘hostile takeover’ bid to acquire
a5l1 per cent stake in the BISX-list-
ed food group had been withdrawn,
telling Tribune Business that the
company was eyeing expansion pos-
sibilities through another food store
in southern New Providence.

Speaking after this newspaper
informed him that Mark Finlayson
and his family’s Trans-Island
Traders vehicle were withdrawing

new shopping experience
for our loyal customers

through January 31, he
would find that sales at

their $1.50 per share offer, Dioni-
sio D’ Aguilar said: “I would be lying
if I did not state that was a major
distraction.

“We have to go back to our core
business and what we have been
doing very well. It’s s difficult mar-
ket out there. There’s always new
companies in the market and situa-
tions that create anomalies in your
business.”

Mr D’Aguilar highlighted the
detrimental impact that roadworks
on Robinson Road, between Blue
Hill Road and the Marathon Mall
area, were having on customer

gender that does most of
the shopping

access to the group’s Solomon’s
SuperCentre store.

He added: “In the short-term it’s
had an effect on Solomon’s, mak-
ing it very difficult to get to
Solomon’s right now. There are
issues that are affecting our busi-
ness, and now we can focus on
addressing those.”

AML Foods is awaiting the open-
ing later this year of its $4.5 million
Solomon’s Fresh Market store in
western New Providence, and Mr
D’Aguilar added: “We’re actively
looking for another location, prob-
ably in southern New Providence,

to expand there. That’ll be a food
store to grow the business.

“We’re certainly not going to role
over and play dead.

“There are a lot of people enter-
ing the market. Where Mr Finlayson
was right and very astute was that
this market is becoming very crowd-
ed, and you have to think very hard
about where and when you build a
new location.

“The population is very static, and
spending on food is not increasing
much.

“You're just taking that pie and
splitting it more each year.”

FOR SALE BY OWNER

whose opinions we hold
in high regard. This
approach is evidenced by
the fact that we just don't
sit in Boardrooms or in
our executive offices and
make decisions, but we
can be found, on a daily
basis, strolling through
the City Market aisles
speaking with our associ-
ates and guests.

“The AML chairman's
resistance to connecting
the dots between ‘retail
and luxury’ may be some-
thing he comes to regret,
as our focus at City Mar-
Ket is to afford our thou-
sands of customers noth-
ing but the best.

“Mr D'Aguilar must
appreciate the fact that
numbers don't lie, and if
he compares the sales fig-
ures of BSL/City Market
and AML during the peri-
od November 2010

M10 Ne, (M133

IN THE MATTER of the Petition of
Clayton Culmer and Sheena Culmer

AND

IN THE MATTER OF ALL THAT piece parcel or lot

of land situate in the Western District af the Island af

New Providence containing 26.012 square feet being Lot Number
Thirty-Tweo (32) of the Subdivision called and known a5. “Summer
Haven Estates” situate om the Eastern Side of Blue Hill Road North of
Highland Drive and approximately 120 feet North of Marshall Road
which said Lot of land is bounded NORTHWARDLY by Lot Nurnber
Thirty (30) of the said Subdivision and runming thereon One Hundred
and Sixteen and Fifty-Two hundredths (116.52") feet EASTWARDLY
by a portion of Lot Nunber Thirty-one (31) and Lot Number Thirty
Thee (33) of the sacd Subdivision and manning thereon Cre Hundred
and Seventy Four and Seventeen Hundredihs (174,17"} feet
SOLUTHWARDLY by the said Highland Drive and rusning therecn
One Hundred and Eighty Two and One Hundrediths (182, 10") fect and
WESTWARDLY by the said Blue Hill Road and ranning thereon One
Hundred and Fifty Nine amd Ninety Two Hundredths (159.92") feet
which said piece parcel or lot of land and has such position, boundarics,
shape, marks and dimensions ag are more particularly delineated on the
Plan filed with the Department of Lands and Surveys being Pan Na,

5130 NLP.

NOTICE

The Petitioners Clayton Culmer and Sheena Culmer claims te be the
owner of the foe simple lot of land in possession the tract of land
hereinbefore described free from encumbrances.

And the Petitioner has made application to the Supreme Court of the
aforementioned Commonwealth of the Bahamas under Section 3 of the
Quieting Titles Act, 1959 in the above action, to have this tithe to the
axl tract of land investigated and the nature and extent thereat
determined and declared ina Certificate of Title ta be pranted in
accordance with the provisions of the said Act,

Nobee is hereby giver that any person having a Dower ora right to
Dever of an adverse to claim or a claim met receenized in the Petition
shall on or before the expiration of Thirty (30) crys after the final
pedlicaton of thess presents file in the said Registry of the Supreme
Court and serve on the Petitioner or the undersigned a Statement of bis
claim in prescribed form verified by an affidavit to be filed therewith.
Failure of any sach person to file and serve a Statement of his Claim on
or before the expiration of Thirty (30) days after the final publication of
these presents shall operate as a bar to such claims,

Copées of the said plan may be inspected during norttal hours at the
Registry of the Supreme Court, East Street North, Nassau, N.P.,
Bahamas or the Chambers of C, Yvette McCartney, Building No. 10,
Seventh Terrace West, Centreville, Nassau, Bahamas.

Dated the 15* day of February, A.D. D001.

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AML declined, while
sales at City Market grew
and continue to grow;
not bad for a ‘neophyte’
team.”

Ms Rahming said: “I
caution Mr D'Aguilar to
remember that women
are the chief financial
officers in most house-
holds and they are the

“We are proud of our
executive team - in par-
ticular, because they are
women, they are mothers
and they are the primary
shoppers. The combined
professional experience of
our team is extremely
sound and one that is
already yielding successes
for our company.”

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.





OCEAN VIEW LOT

in Treasure Cove
Lot number 145 is 67100 feet in size.
This unobstructed ocean view lot is located directly across the
street from the ocean and community beach
Offered at $198, 000 net

Call: 422-6082 for further infarmation

Goods-In-Transit and Cyber
shop/Burglary Insurance

2011 -

2012

The Bahamas Telecommunications Company Ltd. (BTC) is pleased
to invite Tenders to provide the Company with insurance coverage
for its Goods - In - Transit and Cyber Shop/Burglary policies.

Interested companies/firms may collect a Tender Specification from
the Security's Desk located in the Administrative building on John F.
Kennedy Drive, between the hours of 9:00 a.m. and 5:00 p.m.
Monday through Friday.

The deadline for submission of tenders is March 9th, 2011. Tenders
should be sealed and marked “TENDER = GOODS-IN-TRANSIT AND
CYBER SHOP BURGLARY INSURANCE” and should be delivered to
the attention of the Acting President and CEO, Mr. |. Kirk Griffin.

BIC reserves the right fo reject any, or all Tenders.

COMECTOA ANY LIME... ANYNNEFE...

Gorn

ENTERPRISE |

WIRELESS

| BROADBAND | YOIRCE | DIRECTORY







PAGE 4B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



BUSINESS
Bahamas airline targets April 1 for US service

FROM page one

Following closely behind
last week’s start of service
from Nassau to San Sal-
vador, to which it plans to
fly three times a week, Sky
Bahamas is looking to com-

KPMG

aulting Pirawg comiadanity

mence service from Nassau
to Fort Lauderdale, via
Marsh Harbor, and Freeport
to Fort Lauderdale, on April
1, 2011,

Moving to exploit the
rebound in business travel
resulting from a rebounding
economy, Captain Randy

Butler, Sky Bahamas chief
executive, said the airline
had hired nine more persons
last week, with another five
cabin attendants due to start
this week. Another nine
staff, including seven guest
service staff and two ground
staff, are also due to come

A global leader in audit, tax and advisory services

We ane cumently secking an Associate for our Advisory Serviows team, focusing on Corporate Finance and

Transaction Seriocs

Rey job functions and responsibilities include;

Assisting Pomarihy mo Conporate Firance acd Transaction Services anpgemans

on board, bringing the new
recruit complement to
around 23 persons.

“We’re looking for anoth-
er plane for the Us route.
We’re hoping that airplane
will be shipped by May,”
Captain Butler added, stat-
ing that it would be a $1.4
million Saab-340.

“Based on what’s going
on, we’re really optimistic.
The business has taken off,
and some of it is related to
new projects coming online,”
he added. “We’re seeing
business growing, and as
these projects get going
there’s renewed demand for
business travel.”

With contractors starting
to increase their back and
forth travel, Captain Butler
said there was increased
demand for routes from Nas-

sau to Freeport, Abaco and
Exuma, with the latter being
heavily impacted by the San-
dals Emerald Bay resort.

“We see Sky Bahamas
really in terms of being the
preferred airline for business
and leisure travellers in the
Bahamas, to the US and to
the Caribbean, like the
Dominican Republic and
Turks & Caicos,” Captain
Butler, adding that Sky
Bahamas’ service to Cat
Island would likely become
even more important with
the likely withdrawal of Con-
tinental Airlines.

“We have partners in the
hotel industry who keep us
in the loop, tell us what’s
going on,” he said.

“The business has just
been taking off.

“People have been enjoy-

ing the service we’ve been
giving them, and enjoying
the Bahamas.

“The only thing we’re
lacking is this national strate-
gic plan for aviation.”

Captain Butler again com-
plained about the market-
distorting impact that
Bahamasair’s ‘March Mad-
ness’ promotion would have
on the Bahamian private avi-
ation market, telling Tribune
Business that the national
flag carrier, which last year
cut prices to $79 one-way,
had now dropped to $49 for
its San Salvador route - right
as his airline was about to
launch its new service.

He added that Bahamasair
had already reduced its San
Salvador ticket price from
$211 to $190, in response to
Sky Bahamas’ $189 plans.

.
* Preparing firancial and facial reports bo eet Wark Ihe dackion Saking proces

® Bulking and evaluating financial models.

© Arahving finance! statemects and other financial date

« Calleding research data fer Greece! and valuation Seddle

« Performance of client due diligence.

«© Preperation of PowerPrent pradeniatiess in acconiance with EPA quads ines

« Properation of charts, graphs aed tables in Excl in accordance with RPMG guidelines.
* Preperation of financial models

© Memrizieing cle traneaction ad marketing dalehaaes

« Maintaining and dewoloping mario research and indusiry nesearch databases.

© Wdeintaining cles files in accordance with RPA guidelines

« Campiing and Saimuinng desi Gate rome.

« Providing support to managers, directors, and parteers on assignments.

The Acsociste ip expected to have the following qualifications and attributes;

4 Bachelor's dagees in sccounting. finance or economics

2-3 years work superience in the financial sence sector

A corona finance of restirecturing background.

Strong ability to arabes and solve problems, leveraging the contribution of others and tating responsibility
fer GuLooT ia.

Song wreling end Excel financial modeling skills are essential

Sarong PoakeP oie, Word aid prentaion skills ana important,

Enrollment im 3 professional qualification program seoh as CHOY, OFLU or CAG is desire

Pighhy motneated wiih the abibty $c heedle 8 derandeng business environmen

FPAIG ofr competing malariae and ainipeyi bane inching a eedical and gardion plan.
Applicants should submit. cower letter, resume, 2 copy of their transcripts, and a copy of their professiona

cartfication by Prideay, Manch 11, 2091 boo human Resources Manager, RPK, PO, Bow M123, Meee,
Bahamas on

haha da eperiay. Co i. oe

AUDIT «= TAX @ ADVISOR?

City Markets SuperCentres
in ‘six-seven months time’

FROM page one

the 78 per cent City Markets stake owned by
his family-owned vehicle, Trans-Island Traders,
pending an evaluation of its worth, said he
anticipated that architects’ drawings and plans
for the site would be ready by end-March.

“We’re moving right away. I was told to not
hesitate on this, and move right away,” Mr
Finlayson told Tribune Business of the plans
for the three sites, at East-West Highway and
JFK Drive/Bethel Avenue in Nassau, and
Queen’s Highway in Freeport. “With an
instruction like that, and money in hand, we
need to move right away.

“In anticipation of that, ve been talking
to some architects and Supervalue in the US
about helping with the design. Between the
Bahamian architects and Supervalue, we
should have a plan by the end of March.”

Mr Finlayson added that a visit to Super-
value’s independent stores in the US had sur-
prised him in terms of how easy and inexpen-
sive it was to convert buildings similar to those
being eyed for City Markets’ expansion.

“T think in six to seven months the ones in

Nassau will be open for business,” Mr Fin-
layson said. “The one in Freeport is going to
require some additional work, more like 12-13
months.”

The Queen’s Highway site contained two
buildings, one of which was owned by
ABDAB through Bethell-Robertson, and the
other was the property of Burns House. “The
two buildings are separate, but there may be an
opportunity to combine them because Burns
House has their building up for sale,” Mr Fin-
layson said.

“T’m also going to talk to Burns House to see
what the opportunity is.

“That might be the quick route to satisfy
the store’s requirements.”

The three City Markets SuperCentres will be
some 55,000 square feet in size, and given that
the company’s average existing store employed
50 persons, Mr Finlayson said he had antici-
pated a similar staffing level at the new sites.

However, he added that in the opinion of
new chief executive Benita Rahming, they
were “not going to need as many people,
because we will implement new systems she
will bring to the table. So the store staff may be

in the range of 35, rather than 50”.

Arawak Port Development — Request for Proposal for the
Terminal Management and Development of the Arawak Port
Bulk Terminal

Invitation to qualified Bahamian firms to submit proposals for providing bulk material
handling equipment and bulk handling services

Ie Bank of The Bahamas

Arawak Port Development was established in 2010 pursuant to a MOU between the
Bahamas Government and Arawak Port Development Ltd and for the purpose of
developing Arawak Cay into an international port facility serving the break bulk cargo,
bulk materials and containerized freight needs in New Providence. The port development
and operating agreement with the Government of The Bahamas provides Arawak Port
Development with exclusive rights to operate the port in New Providence for twenty
years and provides Arawak Port Development with a 45 year lease for the port property
on Arawak Cay.

EMPLOYMENT OPPORTUNITY

The Bank of The Bahamas International, the institution of first choice in the
provision of financial services, seeks to identify suitable candidates for the
position of:

In July 2010 Port construction began and is expected to conclude by December 2011. The
bulk material terminal operations are presently managed on temporary facilities. The port
plan describes the area designated for the port bulk terminal, comprising approximately
8 acres (A copy of the Bulk Terminal plot may be obtained from the APD Ltd office).
Arawak Port Development requires that bulk material construction begin on or before
April 15, 2011 and is completed by December 31", 2011.

Treasury Risk Analyst

Core Responsibilities:

Comprehensive understanding of risks and their inter-relationships
especially as it relates to credit, interest rate and liquidity risks
Performs various analysis to facilitate the management of liquidity risk,
asset liability management and cash flow;
Be able to calculate, analyze and comment on the various liquidity and
credit ratio implications, to facilitate ongoing strategy adjustments;
Assesses and analyze impact of forex risk and preparation of
regulatory reports for foreign exchange operations;
Undertakes high level economic assessment, scenario and stress
testing to facilitate ongoing risk management and regulatory reporting;
* Assesses the Bank’s ability to respond to varying economic conditions
and scenarios by performing credit, capital adequacy, interest rate and
liquidity stress testing; and
* Assists in monitoring and analyzing the current liquidity position
through GAP analysis reporting.

The Terminal Operator will be expected to operate and invest in the bulk terminal facility.
On the basis of a mutually agreed upon formula, the Terminal Operator is permitted to
charge a bulk material handling fee which will serve to compensate the Terminal Operator
for any investments made in the facility and address all operating expenses. Arawak Port
Development will establish the rules and regulations on how to operate the bulk terminal.
The Terminal Operator will be required to conform to these requirements in order to
remain in good standing with Arawak Port Development. Should the Terminal Operator
fail to meet the minimum operating requirements and the agreement be terminated for
cause, Arawak Port Development will have the nght to acquire all investments made by
the Terminal Operator. Among other equipment and facilities, the Terminal Operator will
be required to invest in a conveyor system which will connect the terminal berth to the
terminal’s customer loading area. The Terminal Operator will also be required to invest in
a bulk material containment facility and cement and bitumen storage facilities.

Terminal Operators interested in the providing the bulk material handling services in
the Arawak Port are invited to submit a proposal to include but not be limited to the
following:

. Business structure; sole entity or a consortium of partners. Please explain
and provide background of consortium.

. Evidence that the applicant is licensed to provide bulk material handling
services in the Bahamas.

. Summary of current and historic experience in the bulk materials handling in
the Bahamas.

. The Arawak Port will not have exclusive rights to receive and handle bulk
materials shipped to New Providence. What volume of bulk material is the
applicant prepared to guarantee despite continued competition with other
bulk terminals in New Providence, most notably Clifton Pier.

. The strategy on how independence and service level is guaranteed for all
different users whom will import and export via the terminal.

. Evidence from any one or more of Royal Bank of Canada, First Caribbean,
Bank of The Bahamas, Royal Fidelity, Scotiabank or other recognized firm,
indicating the applicant’s ability to invest a minimum of $7 million on

demand.

Procedure:
Upon receipt and satisfactory analysis of the provided qualification criteria, Arawak

Job Requirements:

¢ Bachelors Degree in Accounting, Finance, or Business Management.
* 5 years supervisory/management experience.

Specific knowledge of risk management processes especially

management of liquidity risk.

Broad knowledge of treasury practices and procedures.

Good computational skills.

Strong oral and written communication skills.

Proficient in Microsoft Office.

Must be a team player.

MBA would be advantageous, but not essential.

Benefits include: Competitive salary and benefits package, commensurate
with work experience and qualifications. Interested persons should apply no
later than March 7, 201 1 to:

Email: hr.apply@bankbahamas.com
or fax to: 242-323-2637



Port Development will provide the successful applicant(s) with detailed construction
requirements, the terms of reference for the use of the temporary facility and the Terminal
License agreement for the bulk terminal area. Shortlisted companies will be invited to
present their proposal on or before March 18th, 2011.

You are requested to hand deliver your submission to the office of Arawak Port
Development Ltd. Submissions must be received by March 11th, 2011.

Arawak Port Development
House of Mosko’s Building
Corner of Bay & Victoria Street.



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



THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 5B



‘Hostile’ $12m AML offer is withdrawn

FROM page one

However, this is not the end
of Mr Finlayson’s efforts to
bring much-needed consolida-
tion to the Bahamian food
retail industry. Apart from
directing him to proceed with
plans to convert three
ABDAB-owned real estate
holdings into City Markets’
SuperCentres, Mr Finlayson
told Tribune Business that the
Board had directed him to re-
open talks with Phil’s Food
Services and Robin Hood, to
see if there were mergers and
acquisition possibilities there.

Detailing last week’s devel-
opments, Mr Finlayson said:
“The ABDAB Board meeting
went the way I thought it was
going to go, and had a little
twist which I thought was not
going to happen.

“IT presented a proposal
where ABDAB was to buy the
shares Trans-Island Traders
owns in Bahamas Supermar-
kets, namely the 78 per cent. In
principle, the Board agreed
with that concept.

“That was the plan, and the
second thing that happened,
which was also the plan, was
that we decided we were going
to get an independent evalua-
tion done by CFAL and Roy-
alFidelity to determine what
the true value of Bahamas
Supermarkets shares is.”

Trans-Island Traders
acquired its 78 per cent major-
ity stake from the ill-fated BSL
Holdings group, who were des-
perate to exit and find some-
one to save City Markets from
bankruptcy, for just $1.
Bahamas Supermarkets’
shares, though, are currently
trading on the over-the-
counter market at $5.01, mak-
ing it difficult do determine
their true value, especially giv-
en this market’s illiquid nature.

Mr Finlayson, though, said it
was critical to determine a true
value for the Bahamas Super-
markets shares ABDAB is

acquiring, since they will be
paid for via a share swap, with
Trans-Island Traders receiving
ABDAB shares in return. This
will likely further strengthen
the Finlayson family’s already
70 per cent majority holding
in ABDAB.

“We have make sure. We
have minority shareholders in
ABDAB, and have to make
sure there’s no question as to
what the value is,” Mr Fin-
layson told Tribune Business.
“That [evaluation] should be
done in the next two weeks.”

Pledging that ABDAB
would “not hold up” on acquir-
ing Trans-Island’s City Mar-
kets stake, Mr Finlayson esti-
mated that the deal would be
completed in that same two-
week timeframe.

“The twist was - and the
Board was very strong on this -
that they insisted if ABDAB
was to become involved with
Bahamas Supermarkets and
‘Trans-Island Traders, that we
should not, and would not, buy
the shares in AML at a $1.50,”
Mr Finlayson said. “Their posi-
tion is that the $1.50 per share
was a big premium based on
the results and the time. We
[Trans-Island] felt it was a pre-
mium, but a premium that was
worth taking.”

ABDAB’s directors, he indi-
cated, had become especially
concerned at AML Foods’ last
results, which showed that
profits for the nine months to
end-October 2010 were
$904,000, compared to $2.887
million the year before. That
former figure was 68 per cent
down on the $2.811 million
generated from continuing
operations the year before.
Third quarter profits were
down 64.1 per cent at $239,000.

Acknowledging that he, too,
had been disappointed with
AML Foods’ financial perfor-
mance, Mr Finlayson said:
“When the results came down
after January 31, I took the
position that we were so far
into it, the top line had not
changed that much, and I did-
mt really feel it would hurt the
transaction from the bottom
line. Having made the $1.50
per share by then, I did not
want to go back on that.”

But, pointing out that most
ABDAB directors came from
financial backgrounds, and that
they were charged with looking
out for all shareholders, Mr
Finlayson said of the directors:
“In their opinion, there was
not enough value in the trans-
action at that [$1.50 per share]
price. Mr father and I, as

‘Trans-Island Traders, decided
to withdraw the bid to buy
AML/’s shares.

“The Board was very clear
to me, and insisted we pursue
plan A, assuming the transac-
tion between the two compa-
nies [ABDAB and Trans-
Island], which is the develop-
ment of these three sites into
City Markets SuperCentres.
They feel that is the best value
for money for ABDAB share-
holders.

“No matter the route for
AML, they did not think we
could come to a reasonable
price, and asked me not to pur-
sue that.”

He added: “I shouldn’t have
been surprised that’ the route
they took; that there’s more
value in this, and it may take a
while longer, but it’s better for
ABDAB shareholders to take
the route of meeting AML
head-to-head, as it will bring
more value to ABDAB share-
holders than at that $1.50
price.”

The three City Markets
SuperCentre sites in question,
the East-West Highway and
JFK Drive/Bethel Avenue in
Nassau, plus the Queen’s
Highway in Freeport, are all
owned by ABDAB. The esti-
mated cost of their redevelop-

BAHAMAS FIRM’S VESSEL SEIZED ON $126K DEBT CLAIM

FROM page one

a lien over the MV Legend II so it can fore-
close upon it and sell the boat to recover the

sums owed to it.

Dean’s Shipping and the MV Legend were
recently in the news over a Customs raid at
Potter’s Cay Dock, which seized 700 cases of
beer, 30 cases of backwoods cigars, 44 pallets
of cement and two pallets of gallon-sized ice
cream buckets. The goods, which were being
off-loaded in the early morning hours, had

not been declared.

There was nothing to suggest Dean’s Ship-
ping or its employees had done anything
wrong. Mario Saunders, assistant general man-
ager of Dean's Shipping, said then that the

company was conducting its own investiga-
tion to determine the facts of the situation.
"Customs has made their decision to seize

the vessel and goods until the investigation is
complete. It will impact us very little, because

we have another vessel, MV Legacy," said Mr

Saunders.

He denied that goods were "off-loading",
claiming the "truck was on the boat”. He could
not verify the origin of the goods or the own-
ers, because the company was in the middle of
its own investigation.

However, Mr Saunders claimed the vessel

cleared Customs at Arawak Cay on Wednes-

day night.

NOTICE OF SALE

DL Properties Ltd. (“the Company”’) invites offers for the purchase
of ALL THAT piece parcel or plot of land called and known as
“Silver Top” containing 0.896 acres or thereabouts situate on Long
Bay Cay or Kamalame Cay being a private island immediately
east of Blanket Sound on the Eastern coast of Andros Island in the
Commonwealth of the Bahamas (the “Property”). There is a fully
furnished 3 bedroom and 3 1/2 bathroom luxury residence located
on the beach of the Property containing approximately 3,100 square
feet of living space and offers 220 feet of beach frontage. Excellent

rental property.

The Company will sell as mortgagee under the power of sale

contained in a legal mortgage of the Property.

TERMS:

Ten percent (10%) of the purchase price at the time of contract and
the balance upon completion within Sixty (60) days of contract.

The Company makes no representations or warranties with respect
to the state of repair of the residence or the Property which is offered
for sale “as is where 1s”.

This sale is subject to a reserve price. The Company reserves the
right to reyect any and all offers.

Interested persons may submit written offers addressed to DL
Properties Ltd., c/o Managing Partner, P. O Box N-272, Nassau,
Bahamas or delivered by hand to Graham Thompson & Co., Sassoon
House, Shirley Street and Victoria Avenue, Nassau, Bahamas to be
received no later than the close of business on the 16° day of March

2011.

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

The MV Legend plies between West Palm
Beach, Marsh Harbour, Green Turtle Cay,
Spanish Wells and Nassau.

ment is around $12 million, the
same sum it would have costs
to pursue AML Foods, and
ABDAB shareholders would
also receive rental income as
well as being invested in City
Markets.

And, while AML Foods
may not happen, Mr Finlayson
said the ABDAB Board had
authorised him to re-open pre-
liminary talks he had held with
Phil’s Food Services and Robin
Hood about potential consoli-
dation with City Markets, and
report back to them if the
response was positive.

Adding that he was not dis-
appointed by the ABDAB
Board’s decision, Mr Finlayson
said he would “pursue with the
same zest” their decision.

“We offered a very good
deal to them,” he added of
AML Foods investors. “From
our standpoint, I think they
will continue to lose value, and
AML will be caught between
ourselves and from all sides.

“Phil’s did $41 million in

sales last year. That’s impres-
sive in 13 months. I’ve never
seen Sandy’s [Robin Hood]
numbers, but he’s said $26 mil-
lion, and I don’t think that was
up to the close of the year.
There’s no question, either,
that Rupert Roberts has stolen
market share from both
Bahamas Supermarkets and
AML in the past. He’s very
sharp, he’s the guy to beat, and
made it clear he’s in for the
fight in the long run.

“T think, unfortunately, that
AML is going to get squeezed,
shareholder value will go down
more and more, and the win-
dow of opportunity for share-
holders to get out will not be
there with ABDAB and
Trans-Island Traders.

“It’s an opportunity lost. If
we had walked away from the
Heineken deal, that’s the kind
of deal AML investors have
missed out on.

“There’s not much future for
the company. That’s my opin-
ion.”

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT 2000
(No. 45 of 2000)
Liquidator’s Statement
Pursuant To Section 138(6) Of
The International Business Companies Act

|, Diane E. Fletcher, Liquidator of FRUITLAND INVEST
LTD. HEREBY CERTIFY that the winding up and dissolu-

tion of FRUITLAND INVEST LTD. has been completed in
accordance with the Articles of Dissolution.

Dated the 25th day of February 2011.



Cable Beach

Golf Club

NOTICE

TO OUR VALUED PATRONS:

Effective March 1, 2011, the
Cable Beach Golf Course will
become a nine (9) hole facility.

This is necessary to facilitate the
West Bay Street realignment.

The construction of the world- class, Jack
Nicklaus Signature Golf Course will
commence in approximately 18 months.

During this period, the Cable Beach
Golf Course will offer 9 and 18-hole
rates, and will also be available for
tournaments and groups.

We apologize for any
inconvenience caused.







PAGE 6B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE





Report: China auto sales
Slow as cities curb use

CONDOS FOR SALE
MIT

NEW 3 bedroom, 2 1/2 bath in 3 story
building. Gated property, granite
countertops, stainless steel appliances.
$229,000.00
$11,000.00 down

2 bedroom, 1 1/2 bath unit in single story
building. Newly refurbished, granite
countertops, stainless steel appliances.
$135,000.00
$6,250.00 down

Bank financing available
Telephone: 325-1408, 325-1325
or 422-4489

COMMONWEALTH OF THE BAHAMAS 2010
IN THE SUPREME COURT CLE/qui/00346
Common Law & Equity Division

IN THE MATTER of ALL THAT piece parcel or
tract of lands situate between the Settlements of We-
myss Bight and Millers on the Island of Eleuthera
one of the Island of the Commonwealth of The Ba-
hamas comprising part of a tract of land known as the
“Bowles Tract” and a part of a tract of land known
as the “Millers Tract” through which runs the Main
Public Road and together containing 2,086.24 acres
more or less and bounded NORTHWARDLY by a
tract of land granted to James Kelly and known as
Gibson Tract EASTWARDLY by the Sea at High Wa-
ter Mark SOUTHWARDLY by a portion of the said
“Millers Tract” and WESTWARDLY by the Main
Public Road and by the Creek and Exuma Sound
which aforesaid parcel of land has such position shape
and dimensions as are shown on the plan recorded in
the Department of Lands and Surveys as No. 957EL.

AND
IN THE MATTER of the Quieting of Titles Act, 1959
AND

IN THE MATTER of The Petition of Eleuthera
Properties Limited
NOTICE OF PETITION

NOTICE IS HEREBY GIVEN that Eleuthera
Properties Limited, a company registered under the
laws of the Commonwealth of The Bahamas and
carrying on business within the said Commonwealth
of The Bahamas, is applying to the Supreme Court
of the Commonwealth of The Bahamas to have
their title investigated determined and declared un-
der the Quieting Titles Act, 1959 (Ch. 393) in re-
spect of the land hereafter described, that is to say:

“ALL THAT piece parcel or tract of lands situate
between the Settlements of Wemyss Bight and Mill-
ers on the Island of Eleuthera one of the Island of
the Commonwealth of The Bahamas comprising
part of a tract of land known as the “Bowles Tract”
and a part of a tract of land known as the “Millers
Tract” through which runs the Main Public Road
and together containing 2,086.24 acres more or less
and bounded NORTHWARDLY by a tract of land
granted to James Kelly and known as Gibson Tract
EASTWARDLY by the Sea at High Water Mark
SOUTHWARDLY by a portion of the said “Mill-
ers Tract” and WESTWARDLY by the Main Pub-
lic Road and by the Creek and Exuma Sound which
aforesaid parcel of land has such position shape and
dimensions as are shown on the plan recorded in the
Department of Lands and Surveys as No. 957EL”

AND TAKE NOTICE that copies of the Petition
and the Plan of the said land may be inspected dur-
ing normal office hours at the following places:

i. Supreme Court Registry, Ansbacher House,
East Street North, New Providence, The
Bahamas.

Sharon Wilson & Co., Chambers, East
Shirley Street, Highland Terrace, New
Providence, The Bahamas.

The Administrator’s Office, Rock Sound,
Eleuthera, The Bahamas.

AND FURTHER TAKE NOTICE that any person
having dower or right to dower, an adverse claim
or a claim not recognized in the Petition shall on or
before the 18th day of April A.D., 2011 file in the
Supreme Court and serve on the Petition or their at-
torney an Adverse Claim in the prescribed form sup-
ported by Affidavit.

FAILURE OF ANY PERSON to file and serve an
Adverse Claim on or before 18th April, A.D., 2011
date will operate as a bar to such claim.

Dated this 14th day of February A.D., 2011

Sharon Wilson & Co.
Chambers, Delvest House
East Shirley Street, Highland Terrace
Nassau, The Bahamas
Attorneys for the Petitioner



SHANGHAI
Associated Press

CHINA'S passenger car
sales slowed in January as
tax breaks for energy-effi-
cient cars lapsed and cities
began tightening curbs on
vehicle use to help combat
traffic congestion and smog,
according to a report Mon-
day.
The Shanghai-based Chi-
na Passenger Car Associa-
tion reported that sales of
passenger cars fell 10.3 per-
cent in January from the
month before to 965,238.
On an annual basis, sales
rose 12.6 percent.

Chinese bought 13.7 mil-
lion passenger vehicles last
year, up by a third from
2009. But that robust
growth is forecast to cool
this year due to the expira-
tion of tax incentives for
some vehicle purchases and
a renewed effort by cities to
bring traffic under control.

"Of course the withdraw-
al of financial incentives
would impact any country's
auto market, and sales did
continue to grow in Janu-
ary, but toward the end of
the month there was a sharp
cooling in sales,” the Pas-
senger Car Association
report said.

It said sales in February
were bound to decline due
to the usual slump follow-
ing the Lunar New Year
holiday, which was longer
than usual.











D

eT

pil |

UTO ACCE

a |

Accessories Commercial Expo in Beijing Saturday, Feb. 26, 2011. (AP)

Rao Da, head of the asso-
ciation, took aim at what he
called a policy of "encour-
aging car purchases, while
restricting car use."

The explosive growth in
Chinese car ownership has
nurtured the rise of the
domestic auto industry, but
left major cities like Beijing
and Shanghai jammed with
traffic and choking on smog.

China's capital has

decreed it will limit new
vehicle registrations to
240,000 this year — just
over a third of those regis-
tered in 2010 — to try to
ease massive traffic jams
that have turned Beijing's

EAN

We ore looking to fill the following posilions with enengelic,
dynamic and team oriented individuals
They ore ovaileble oq both a Part-Time ard FullTene basis






CUSTOMER SERVICE REPRESENTATIVE
/ TEAM LEADER





Apolicatien must include the following:

Employment Application Form,’ Resume

streets into virtual parking
lots.

News that Shanghai
would more strictly enforce
existing restrictions on
vehicles with out-of-town
license plates, often bought
by city residents to avoid
paying exorbitant fees in
monthly auctions, boosted
the average price fora
plate to 44,000 yuan
($6,666) last month, local
reports said.

As of January, the gov-
ernment ended sales tax
rebates and subsidies for
rural buyers, which initially
fueled huge growth in sales
of minivans in the country-
side after they took effect
in 2009. That is expected to
dampen demand in coming
months.

But most auto manufac-
turers are banking on solid
growth in the country’s vast
rural areas and inland cities,
where most families do not
yet own cars and those that
do are keen to trade up.

Foreign manufacturers
are still counting on double-
digit growth in China and
other emerging markets to
compensate for sluggish
sales in their home markets.

SSORIES COMMERCIAL EXPO



General Motors Co.,
which for the first time in
its 102-year history sold
more cars and trucks in Chi-
na last year than it did in
the U.S., reported sales in
China rose 22.3 percent
from a year earlier in Janu-
ary to 268,071.

Ford Motor Co.'s sales
climbed 20 percent, to
53,340 vehicles.

While domestic auto com-
panies are growing quickly,
they have yet to overtake
foreign car makers and their
joint venture partners: Six
of the nine top car manu-
facturers by sales in Janu-
ary, according to the Pas-
senger Car Association,
were joint ventures, led by
GM and its flagship joint
venture with state-owned
Shanghai Automotive
Industrial Corp., Shanghai
GM.

The top sellers among
independent domestic
brands was Chery Automo-
bile, which sold 49,640 vehi-
cles in January. Just behind
was BYD Auto, a battery
maker-turned-car manufac-
turer backed by billionaire
USS. investor Warren Buf-
fet, which sold 49,432.

- Copy of Bohorian Posaperl
Copy of Mational Insurance Board Cord

- Receal [not older than ane year] Police Certificate
Recent Passport Size Photo fcolor}

NO TELEPHONE CALLS, PLEASE

COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT
COMMON LAW AND EQUITY DIVISION

2008

CLE/GEN/01665

IN THE MATTER of the Property comprised in an
Indenture of Mortgage dated the 31* day of October,
A.D. 2000 and made between Kevin Bethel and
Denise Bethel as Borrowers and FirstCaribbean
International Bank (Bahamas) Limited (formerly CIBC
Bahamas Limited)

AND IN THE MATTER of the Conveyancing and Law
of Property Act, Chapter 138 of the Revised Statute
Laws of the Commonwealth of The Bahamas.

BETWEEN

FIRSTCARIBBEAN INTERNATIONAL BANK
(BAHAMAS) LIMITED
(formerly CIBC Bahamas Limited)
Plaintiff
AND

KEVIN BETHEL
AND

DENISE BETHEL
Defendants

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Notice of Appointment to
Hear the Originating Summons filed on the 8 day of
December, A.D. 2008 and set down to be heard on
Thursday the 17 day of February, A.D., 2011 at 10:
00 o’clock in the forenoon will now be heard before
the Honourable Justice, Stephen Isaacs, Justice of the
Supreme Court, Senate Building, Parliament Street,
Nassau, The Bahamas on Monday the 4" day of
April, A. D., 2011 at 10:00 o’clock in forenoon.

Dated this 21% day of February, A.D., 2011

REGISTRAR

This Notice was taken out by Messrs. Gibson, Rigby & Co.,
Chambers, Ki-Malex House, Dowdeswell Street, Nassau, The
Bahamas, Attorneys for the Plaintiff.

NOTICE

NOTICE is hereby given that MICHAEL STAPLETON of SWAN
DRIVE, FREEPORT, GRAND BAHAMA, 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
21st day of FEBRUARY, 2011 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

NOTICE

NOTICE is hereby given that JAMES ERTILUS of
ST. JAMES ROAD, P.O. BOX S$S-6582, 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 21** DAY of
FEBRUARY 2011 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

SECURITY SYSTEMS

International Limited

Alarm Tech Needed

As the eadecin Home and Business Security
acrvices »we are looking for qualified
te clodicians .

Requirements

Ait least 3 we ars
Expericnce im alarm installations.
[Independent Thinker
Self hLo tivated
Work with Ademece Mapeo or GE alarme Panels
Asses tomtrol & CCT Wexperience a plus
Work flexible tows

Me Fhonme Calk
Please email resume to in fb ofesthbahanas com

Or
Fax 242-394-3154



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



THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 7B





30 per cent prices
falls boost real estate

FROM page one

and are more appealing,
and buyers are seeking
more value for their money.
That’s what’s making the
trade,” Mr Damianos
explained.

Much of the price adjust-
ment, he added, had taken
plane in 2009, which he
described as “probably the
worst year” for the Bahami-
an real estate market in
general. “2010 improved a
little bit, and we’re opti-
mistic that 2011 is going to
be at least as good as 2010
or even better,” Mr Dami-
anos added.

“T think in 2010 we all got
better at pricing properties

and understanding the
recession.” While in 2009
many sellers were “still liv-
ing in la la land” and main-
taining prices at pre-reces-
sion levels, Mr Damianos
said many had now realised
that to sell real estate pre-
viously priced at $1 million,
they needed to instead seek
between $650,000-$700,000.
“Sellers are getting more
sensible and realistic in
their pricing,” Mr Dami-
anos told Tribune Business.
“Sellers are coming to grips
with the fact these numbers
are here to stay, and it is
not just a passing phase.
“If we can get some vol-
ume going, everyone will be
happy, and we will get some
Stamp Tax money flowing

into the Treasury, lawyers
will earn some fees, realtors
will earn some fees, and we
will spend more money and
get the economy back.”

Looking forward to the
impact of the $2.6 billion
Baha Mar project, Mr
Damianos told this news-
paper: “I think it will put
pressure on the rental mar-
ket, which will be good, and
it will enable the real estate
market people to invest and
buy to rent out, and get a
positive return on their
prices.

“It can help to shore up
some of the pricing in the
real estate market rentals
and prices. In that first
wave there are probably
going to be construction
and construction-related
people, and I would imag-
ine that the 8,000 Chinese
workers are not going to
have a great impact, but
there will be increased
focus and increased pres-
sure on the rental market.”

Mr Damianos said the
Cable Beach/western New
Providence rental and prop-

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT



erty market needed a pro-
ject such as Baha Mar “bad-
ly”, but added that the rel-
atively low amount of avail-
able inventory meant it
would “not take too long”
to fill up.

“One hundred people
will definitely create a lot
of pressure on the rental
market,” Mr Damianos

said. “That’s been our sav-
ing grace during this reces-
sion, and we’ve not over









built like in Florida, where
there’s a lot of empty build-
ings. That’s held us togeth-
er economically as a coun-
try. We just hope the num-
ber of people needing
places are able to pay Cable
Beach market prices.”

Otherwise, they might
move to other areas, and
put pressure on rental
prices being paid by
Bahamians, Mr Damianos
warned.

NOTICE

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
#106, Yuma Estates, 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: 7,485 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
2816”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #2881,
Sir Lynden Pindling Estates, situate in the Southern District
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: 1,148 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, The Bahamas and marked “Tender
2637”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #1601,
Pinewood Gardens Subdivision, situate in the Southern District
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: 1,332 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,
BO. Box N-7549, Nassau, The Bahamas and marked “Tender
0288”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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

Today's Close -
Change - Chang
Vo

(No.45 of 2000)
SOFER INVESTMENTS LTD

In Voluntary liquidation

Notice is hereby given that in accordance with Section
138 of the International Business Companies Act (No.
45 of 2000) SOFER INVESTMENTS LTD, has been
dissolved and struck off the Register according to
the Certificate of Dissolution issued by the Registrar

General on the 17th day of December, 2010.

Luis Maria Pineyrua Pittaluga
Zonamerica
Ruta 8 - km 17.500
Local 115A
C.P. 91.600
Montevideo - URUGUAY
Liquidator

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 being Lot #152,
Garden Hills Subdivision, situated in the Southern of New
Providence, one of the islands of the Commonwealth of The
Bahamas. Situated thereon is a Single Family Residence
consisting of 4 bedrooms and 2 bathrooms.

Property Size: 6,717 sq. ft.
Building Size: 2,205 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
4045”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

ROYAL FIDELITY

Moray at Werk

RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the following:

“ALL THAT” piece parcel or lot of land comprising Lot
East of Highland Park 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 Residence consisting of 3 bedrooms and 3 bathrooms.

Property Size: 8,100 sq. ft.
Building Size: 2,408 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
3082”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #27.
Snow View Subdivision, situated in the Western of New
Providence, one of the Islands of The Commonwealth of The
Bahamas. Situated thereon is a Duplex consisting of 2-2
bedroom and 1 bathroom.

Property Size: 5,946 sq. ft.
Building Size: 1,344 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
0127”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

EJ FG CAPITAL MARKETS
Sf BROKERAGE = SERVICES

clear ca Ww 7 A TT.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 25 FEBURARY 2011
BISX ALL SHARE INDEX: CLOSE 1,465.04 | CHG 0.07 | %CHG 0.00 | YTD -34.47 | YTD % -2.30
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

Securit
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
Finco
FirstCaribbean Bank
Focol (S)
Focol Class B Preference
ICD Utilities
J. S. Johnson
Premier Real Estate

Previous Close Today's Close

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

Securit mbol
Bahamas Note 6.95 (2029)
Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

FBB17
FBB22
FBB13
FBB15

Symbol
Bahamas Supermarkets “NIA
RND Holdings

ABDAB
RND Holdings 0.45

Fund Name

CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund

2.8522 Royal Fidelity Bahamas G & | Fund
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund

99.4177 CFAL Global Equity Fund

1.0000 FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

vestment Fund Principal

1.4076
2.8300
1.5141

1.0000
1.0000
9.1005

10.0000

10.1266
8.4510

RoyalFidelity Merchant Bank & Trust! Ftd: (Over-The-Counter Securities)
id $ ail

Last Sale Change Daily Vol
0.00 * Yo 20 November 2029

100.00 0.00 y 19 October 2017
100.00 0.00 Prime + 1.75% 19 October 2022
100.00 0.00 7% 30 May 2013
100.00 0.00 Prime + 1.75% 29 May 2015

Last Price EPS $ Div $
“NA

le AN oO. 55
CFAL Seennies Ltd. (Over-the-counter Securities)
30.13 9.00

oie ‘oes

BISX Listed Mutual Funds
YTD%

1.498004
2.918697

1.564030 1.545071

109.392860
100.779540

107.570619
105.776543

31-Dec-10

30-Nov-10

30-Nov-10

31-Jan-11
31-Jan-11

MARKET TERMS

Ask $ - Selling

ted price for daily volume
nted price for daily volume
rom day to day

tr

Last Price - La:
Weekly Vol. - Tradi

volume of the prior week
eported earnings per share for the last 12 mths

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

Stock Split - Effective Date 8/8/2007

(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
To

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





PAGE 8B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



Concerns Commission acted ‘outsite powers’































































APD Limited

APD Limited is in the process of Prequalifying contractors in connection with the design
and construction of their proposed Inland Container Terminal on Gladstone Road. This
project will be procured on a design/build basis.

The Prequalification documents can be accessed by logging onto:

ftp://dhpftp.aotbahamas.com
username: apditd
password: apd1234

The documents must be completed and returned by Spm Friday, March 4"", 2011
electronically to:

pow @dhpassociates.com
or rroker@dhpassociates.com

or by hand to:
APD Limited
House of Mosko
Bay Street
Nassau, Bahamas

The selected design/build entities will be provided with Requests for Proposals on
Friday, March 7", 2011.

Please be advised that only Bahamian registered firms will be considered.

Tenderers who have previously responded to Prequalification documents in this
connection are advised to review the documents as now posted and revise their
submission if they so desire.

ot OW, "y
Oo 4
&
= ‘-
A
< Wh

& MUSEUMS CORPORATION

FROM page one

pension. “I didn’t see it
achieving anything, to be
honest with you. It hurt the
smaller investor, and would
not stop us talking to any-
one behind the scenes. As
long as we stayed behind
the scenes, we could talk to
anybody we wanted to.”

Once his hostile bid had
formally launched via a Bid
Circular, Mr Finlayson said
the Securities Commission
would have removed the
AML Foods share suspen-
sion, and added: “It did not
hurt us in any way. It hurt
the small guy trying to use
the shares as security for a
loan, or who wanted to sell
the shares to get liquidity
now because he had no con-
fidence this transaction was
going to move forward. The
Commission should have
been very careful about
this.”

Mr Finlayson also sug-
gested the Securities Com-
mission should have looked
into AML Foods’ alleged
failure to disclose the exis-
tence of a potential bid for
the food retail group when
publicly announcing its
share buy back programme
in January.

Suggesting the buy back
was a direct response to his
impending ‘hostile
takeover’, with AML Foods
management and existence
aware it was coming, Mr
Finlayson said that on
Christmas Eve he had
agreed with one of the
BISX-listed company’s larg-
er shareholders to buy their
shares at $1.86 per share.

The larger shareholder,
he then indicated, became
concerned about leaving
minority shareholders
behind, and urged Mr Fin-
layson to make an offer
that took account of all
AML investors. Mr Fin-

not Wart TS

layson said he was travel-
ling to New York in early
January, aware that AML
Foods had a Board meet-
ing, and that Board mem-
bers knew a $1.86 offer had
been made to some share-
holders and “was off the
table”.

Emphasising that he was
“sure there was nothing sin-
ister”, Mr Finlayson ques-
tioned AML Foods’ failure
to release details of his
impending offer with the
share buy back announce-
ment. He said he was then
advised by his legal adviser,
Senator Jerome Fitzgerald,
to release details of his
‘hostile’ bid to make it clear
exactly the terms he was
offering, and to ensure
there were no suspicions of
insider dealing.

“We mentioned it to the
Commission,” Mr Finlayson
said. “In my opinion, what
the Commission should
have been doing was focus-
ing on the existing law, and
making sure that was com-
plied with. They should
have given us a stamp of
approval on this thing,
cleared the AML Board,
and applied the existing
law.

“The Commission meant
well, but took some really
bad decisions on this thing.
They took a long time to
act. They were more pan-
icked moves than the cor-
rect moves. The Commis-
sion, out of this transaction,
has to go back and evalu-
ate themselves.

“Tf they are going to push
forward this Bill to change
the legislation, they should
do, and focus on that and
the existing law.

“They should not try to
push these guidelines as
existing law. This is where
they crossed the line and,
as a result, ended up hurt-
ing the AML small share-
holder.”

KINGSWAY ACADEMY SCHOLARSHIP

Director Required

The Antiquities, Monuments and Museum Board of The National Museum of The
Bahamas, a statutory body (wwww.ammecbahamas.com) established in 1998 is
seeking a Director to lead the institution.

The Director will be responsible for the fulfillment of the institution's Mission
Statement. This will include:

* Refining and implementing a Strategic Plan jointly developed with the Board
* Financial planning and management, and the tactical generation of revenue.
* General administration and development of the staff.

Requirements:
* [Master's Degree or equivalent in Business Administration.
* 5-7 years’ experience in Corporate Management.
* Experience in personnel management, financial management and
fundraising.
* Interest in Heritage Studies would be an asset

Skills:
* Excellent verbal, written, and people skills.
* Highly organized self-starter.

Salary:
* Commensurate with experience

Applications should be delivered to the:
Chairman
Antiquities, Monuments and Museum Corporation
P.0.Box EE-15082
Shirley Street & Collins Avenue
Nassau Bahamas
Or Fax (242) 326-2568
and should be received at the office on or before 1 April 2011. Telephone
contacts are:

(242-326-2566)
(242-325-1928)

ANNOUNCEMENT

Kingsway Academy, a leading Bahamian (K-12) school with a
reputation for excellence in academics, athletics and the arts; a
commitment to Christian values; and a strong tradition of public
service, is inviting public school students entering Grade 10 in
September 2011 to apply for 2 (two) prestigious 3-year scholarships.

(A) The Grace Tatham Kemp Scholarship

Named in honour of Kingsway’s founder, Mrs. Grace Tatham Kemp. This
scholarship is for a well-rounded student with proven, strong academic
performance.

(B) The Ned Wallace Sports Scholarship

Named in honour of one of Kingsway’s earliest building contractors and
a former member of the Board, Mr. Ned Wallace. This scholarship is for a
well-rounded student with proven, strong academic and sports performance.

Interested students should submit:

* Completed Kingsway High School Application Form, available at the
Kingsway High School Office or may be downloaded from the school’s
website www.kingswayacademy.com. Click on Document Downloads.

¢ Recommendation letter from your school’s Principal

* Recommendation letter from your school’s Coach if applying for the
sports scholarship

¢ Personal statement sharing your school, church and community
involvement, as well as your plans for the future.

* Transcript of your last 3 (three) academic years (Grades 7, 8 and 9 to
date). Transcripts will only be considered valid if they are submitted in
your school’s sealed envelop.

Note: Short-listed candidates will be invited to sit the scholarship
examination and appear at an interview.

Deadline: Complete application package should be received
by 4:00 p.m. at the High School Desk in the Administration
Building by March 7*, 2011

Enter to be Trained in the King’s Way. Exit to be the
Difference



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



PUBLIC NOTICE

PROFESSIONAL ARCHITECTS BOARD
LICENSED ARCHITECTURAL TECHNICIANS PROFESSIONAL ARCHITECTS ACT, 1994

Public Noten is hereby given that ihe persons listed hesrunder are licensed by he "Pralessiona
4rchifects Board” ta practice as Professional Archiactural Technics” until 31 January 2012.

HAME

Lec A. Mid esr

Henry A. Debary

Michael A. Jared

Roscoe A. Saunders-Kemp

Laurin L. Knicevies

Ryan A, Anchen
B. Sc. Arch. Tach.

a

C, Jenkin Wiliams

Lockhart W.. Tumquest

Roland S. Bevans

Caray T. Adderley

B. Arch.

Jermaine H. Evans

Trevor A. Bulberlield

Brent H. Kay

REGISTRAR

14" Februery 2011

ADDRESS LICENCE #
Phone (242) 226-8141 TOS

P.O. Box 6585

Nascau, Bahamas

Prone (242) 334-0456
Wiemyes Bight,
Eleuthera

Prone (242) 227-2871
P.O. Box SP 61305
Nateau, Baharia

Prone (242) 325-2478
P.O. Box F 40530
Freeport, Grand Bahama

Phone (242) 225-1706
Mangrove Buen
Long tsland

Prone (242) 367-2001
P.O. Bow 578
Marsh Harbour, Abaco

Phone (242) 352-2500
Po, Bow F 44107
Freeport, Grand Bahama

Phone (242) 337-1086
P.O. Bow GG aoe?
Gray's, Long bane

Prone (242) 259-6415
P.O. Box F 40208
Freeport, Grand Bahama

Phone (242) 241-1247
P.O. Bax GT-2975
Nassau, Bahamas

Phone (242) 646-3807
P.O. Bax F R028
Freeport, Grand Baharia

Prone (242) 251-8016
P.O. Bax F 44042
Freeaparl Grand Bahama

Prone (242) 267-4143
P.O. Box AB-20702
Maren Harbour, Abaoo

PUBLIC NOTICE
PROFESSIONAL ARCHITECTS BOARD LICENSED ARCHITECTS

Commonwealth of The Bahamas
Established by Act of Parliament 1994
P.O. Box CB-15040, 143 Nassau Street — Nassau, Bahamas

Public Notice is hereby given that the following Architectural Technicans are hereby remowed trom the
Ragisiar of the "Professional Architects Board Licanced Architactural Technicians effectha 14° February

17

NAME

Charles Pl Taylor

Hartley &. Tacenpeaon

AlGean ®. Campbell

REGISTRAR

a" Rabruary 2077

KPMG

culty fhrough conptaiety ~

ADDRESS LICENCE NO.

Phone Mo (242) 290-5605
P.O. Boe SS 419
Nassau, Bahamas

Phone (Mo) 373-1872
P.O. Bow F 42581
Fraapat, Grand Barer

Phone Me. (202) JS2-5127
Phone Mo. (242) J61-5675
Fiaapet, Grand Baboeeru

Phone Mio. (242) 2721959
P.O. Bee F 60141
Freeport, Grad Rear



& global leader in audit, tax and advisory services

Weare correnthy seeking a Junler Associate for our Advisory Services team, focusing om Corporate

Firmance and Transaction Services

Key job functions and reeponsibilities imclude:

act tt ct te & &

Performance of chant dua diligence.

Maintaining diam Ties in accordance with KPMG guidalinas.

Anaheis and reconciliations of Sirancial date im Exo

Preparation of financial mode

Preparation of PowerPont presentatone in eocordance with KPtats quideinag

Preparation of charts, graphs snd tables in Excel in accordance with KPMG guidelines
Wiaintaining Giant transaction amd marketing datnhame.

fwlaintairing and chee oping market rasnernc® and muairy mesnerch date,
Providing support in aencistes, managers, and perinarm on aeegqnmante

The Junior Associate is eapeoted to hire the following qualifications and aroibutes:

‘iactktt & &

4 Bacholor's degree in aooounting. Timnod of economics

1-2 years work experience in the lineal services sector is prefarable

Strong writing and Excel financial modeling skis are eeserviial.

Strang PowverPoing and Woed skills eee important

Ereolinert ins professions! qual@scstion program such ss CHW, CFO or CPA is chesicptile
Highh: motveted wath the soility to handle a demanding business environment.

KPMG offers compatitive salaries and ampeloyes benefits induding a medial and pension plan



Anpliqinte pha guint a cower igtter, repens, 8 oc of their trangoipte, and a copy of tees peotosional
cemfication by Friday, March 11, 2097 to: Huran Resources Manager, KPMG, P.O. Bo W123, Mase,

Bahenaes or frbaturar = korg. pen

AUDIT « TAX « ADVISORY

Be 2 dee per ee ee es te Oe eee od eve eee ee ee oe ee Cee Oe ree lee er, Ad ps

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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 13B



Japanese stocks
on the rise again

NEW YORK
Associated Press

JAPANESE stocks have
disappointed investors
since 1990. No longer.

Japan's Nikkei 225 index
has climbed 15 percent
since Nov. 1.

The increase means
Japanese stocks have done
better over the past four
months than they have in
17 of the last 21 calendar
years.

They are also beating
the major indexes in the
U.S. and other countries.

It's new ground for the
Nikkei 225, which has
done worse than U.S.
stocks in all but four years
over the past two decades.

Even with the gains, the
Japanese index is still 73
percent below its peak, set
on Dec. 29, 1989.

"IT don't think this is just
a One-time event," said
Taizo Ishida, a portfolio
manager who runs the
$76.6 million Matthews
Japan Fund and the $340.4
million Matthews Asia
Pacific Fund.

"I'm not bold enough to
say this time is different,
but it may be. The next 10
years won't be like the
1980s, but it will be up."

To be sure, Ishida said
investing in Japan can
appear daunting to some-
one looking at Japan's
demographic or economic
data.

Its population is aging,
and Standard & Poor's last
month downgraded its
credit rating. Last year,
Japan ceded the title of
world's No. 2 economy to

China.

But Ishida said Japanese
corporate executives he
talks with now are focused
on growth, when a few
years ago they cared more
about keeping employ-
ment steady.

Among other reasons to
be optimistic:

Price: Japanese stocks
are some of the world's
cheapest, when measured
against their book values.

A company's book val-
ue shows how much it is
worth after subtracting its
debt and other liabilities
from its assets.

A lower price-to-book
ratio indicates investors
are getting ownership of
the company's assets more
cheaply. Japanese stocks
at the end of January trad-
ed at an average of 1.2
times their book value,
according to investment
analysis company MSCI.

That's nearly 50 percent
cheaper than U.S. stocks,
which traded at 2.3 times
their book value.

Japanese stocks don't
look that cheap when mea-
sured against their profits:
They trade at an average
of 17 times their earnings
over the prior year, about
the same as U.S. stocks.
But that's much cheaper
than their average price-
earnings ratio over the past
20 years, of 27 times.

"People are saying,
‘Wow, this might be too
cheap for the type of
growth we might be see-
ing,’" said Deborah
Medenica, who runs the

NOTICE is hereby given that MELAINE FRANCOIS of
HOPE TOWN, ABACO 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 28' day of February, 2011 to the Minister responsible
for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) PENCREST LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 11th day of February, A.D., 2011 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

East Bay St.

C.B. Strategy Ltd.
LIQUIDATOR



NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) DOTLEAN INC. is in dissolution;

(b) The date of commencement of the dissolution
is the 16th day of February, A.D., 2011 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

East Bay St.

C.B. Strategy Ltd.
LIQUIDATOR



Alger Emerging Markets
Fund, which launched at
the end of last year.

Economic strength:
Economies are strength-
ening around the world.
Deutsche Bank earlier this
month raised its forecast
for full-year 2011 U.S. eco-
nomic growth to 4.3 per-
cent from 3.3 percent.
Investors can benefit from
stronger-than-expected
U.S. growth in several
ways, but "Japan is the
best way," Credit Suisse
strategists wrote in a
recent report.

U.S. stocks may seem
like the logical way, but
Japanese companies that
export to the U.S. will also
benefit from stronger U.S.
spending.

And the Japanese stocks
are cheaper than U.S.
ones.

Japanese exporters also
benefit from strong growth
across Asia.

Four of Japan's top five
export markets are in Asia,
including No. 1 China.

Trade to such countries
means Japanese companies
can sell their products in
yen more often, Ishida
said.

That shields them from
the yen's strength against
the dollar: A stronger yen
makes Japanese-made cars
and cameras more expen-
sive to customers paying in
dollars.

Safety: Stock markets in
China, India and other
developing countries have
sunk in recent months on
worries that inflation will
hurt growth.

Protests in the Middle
East have also highlighted
the risks of investing in
emerging markets.

That has pushed
investors to yank money
out of emerging market
stock funds.

In search of safety, many
have turned to Japanese
and other developed mar-
Ket stock funds. Investors
poured more new money
into Japanese stock funds
during the week through
Feb. 16 than in any other
week in nearly four years,
according to fund-tracker
EPFR Global.

Consider Toshiba Corp.,
a maker of everything
from nuclear reactors to
televisions to vacuum
cleaners. Its stock dropped
80 percent between the
end of 1989 and early 2009.

But it said earlier this
month that strong growth
in China helped it toa
profit of 12.4 billion yen
($152.7 million) last quar-
ter, reversing a loss of 10.6
billion yen from a year ear-
lier. Its stock has climbed
31 percent since Nov. 1.

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.







PAGE 16B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



eae INES eee
Warren Buffett remains optimistic about US future

OMAHA, Neb.
Associated Press

BILLIONAIRE Warren Buffett
wants Americans to be optimistic
about the country's future but wary
about borrowing money and the
games public companies play with
profit numbers they report.

Buffett said in his annual letter
to Berkshire Hathaway sharehold-
ers Saturday that he still believes
America's best days are ahead.

"Commentators today often talk
of 'great uncertainty.’ But think
back, for example, to December 6,
1941, October 18, 1987 and Sep-
tember 10, 2001," Buffett wrote,
referring to the days before the
Pearl Harbor attack, a stock market
crash and terrorist attacks in the
US. "No matter how serene today



may be, tomorrow is always uncer-
tain. Don't let that reality spook
you."

He said a housing recovery will
likely begin within the next year,
which would help the economy and
several Berkshire subsidiaries,
including ones that make carpets
and bricks.

Buffett's letter detailed how the
acquisition of Burlington Northern
Santa Fe railroad, better results at
Berkshire's other subsidiaries and a
$1.9 billion paper gain on invest-
ments and derivatives combined to
boost the company's net income by
61 percent to $12.97 billion on rev-
enue of $136.2 billion in 2010.

The letter was full of good news
for Berkshire investors because
nearly all of its businesses, except
the ones linked to housing, per-

formed well, said Glenn Tongue, a
managing partner at T2Partners
investment firm.

"I think his tone in this letter was
more optimistic than usual — both
about the economy and the busi-
ness," Tongue said.

Buffett also devoted part of his
message to educating investors on
key business principles. Buffett said
the financial crisis of 2008 confirmed
the dangers of investing with bor-
rowed money because even a short
absence of credit can ruin a com-
pany.

"When leverage works, it magni-
fies your gains. Your spouse thinks
you're clever, and your neighbors
get envious. But leverage is addic-
tive,” Buffett said. "Once having
profited from its wonders, very few
people retreat to more conserva-

REGISTER OF PROFESSIONAL ENGINEERS

AS OF 247TH FEBRUARY, 2011





tive practices."

That's part of why Berkshire
always keeps at least $20 billion cash
on hand for unforeseen events or
investment opportunities, he said.
At the end of 2010, its cash reserve
totaled $38 billion.

Buffett urged investors not to
focus on the net income figures that
companies report because they are
easily manipulated through account-
ing tricks or by selling investments.
He said Berkshire's net income can
be particularly misleading because
of the large amount of unrealized
investment gains or losses the com-
pany holds at any given time.

He said that regardless of Berk-
shire's performance, it could easily
and legally “cause net income in
any given period to be almost any
number we would like."

Professional Engineers Board

Commonwealth of The Bahamas

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Buffett also offered Berkshire
shareholders few new details about
how the company would function
once he is no longer running it.

The 80-year-old chairman and
CEO of Berkshire said that invest-
ment manager Todd Combs will
manage $1 billion to $3 billion of
Berkshire's $158 billion investment
portfolio. Berkshire hired Combs
last fall, and Buffett says Combs has
the risk aversion, dedication and
track record he wants in an invest-
ment manager.

To replace Buffett, Berkshire
plans to split his job into three parts
— chief executive officer, chairman
and several investment managers.
Buffett, however, has indicated that
he has no plans to retire, and he
says he loves his work and remains
in good health.

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



Pim blowin’ it

HIGH
LOW

84F
71F

SUNSHINE
AND BREEZY

Volume: 107 No.82

‘Hostile’ $12m ~ 4
Oy atm



withdrawn
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(i) The I

ribune

LATEST NEWS ON WWW.TRIBUNE242.COM



MONDAY, FEBRUARY 28, 2011



Oil price sparks
fuel cost fears

Retailers call on
covt for relief

By MEGAN REYNOLDS being priced out of the mar-

Tribune Staff Reporter ket.

mreynolds@tribunemedia.net Retailers are restricted to
taking 44 cents for every gal-

PETROLEUM retailers
losing out on the rising cost
of fuel are calling on the
government to give them
some relief as they fear fur-
ther rises in fuel prices will
put them out of business.

A group of 18 retailers,
braced for the impact a hefty
rise in the cost of crude oil
will have on their businesses,
have written to the Ministry
of Finance in anticipation of

lon of gasoline they sell, and
19 cents per gallon of diesel,
regardless of the price they
pay for fuel, and want the
government to ease restric-
tions before they are driven
out of business.

Oil prices stabilised on
Friday after unrest in the
Middle East drove the price
of crude oil to more than

SEE page 13

CLARIFICATION

THE Tribune would like to clarify that Patrick Terrence
Robinson is not a PLP “webmaster”, nor is he affiliated with

that party in any way.

Both Mr Robinson and a PLP webmaster took separate
videos of Wednesday’s anti-PLP demonstration.

He was wrongly confused with the webmaster after a PLP
operative, without identifying himself as such, approached Mr
Robinson about posting his video on the internet.

Mr Robinson said he had no idea how his video was going to
be used, and has distanced himself from any comments attached
to versions of the video appearing on various websites.







And you could win free concert tichets, airfare and accomodations,

Upgrade any regular priced sub to
acombo meal for $1.80 and you
could win concert tickets, airfare

and hotel, compliments of Bahama












Subs & Salads

and COO! 96.





Winner will be
announced on
March 11th,

sata

ee

SEE SECTION E



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



MAN SHOT DEAD
AFTER RESISTING
ARMED ROBBERS

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

VICTIMS of armed rob-
bers are urged not to with-
hold their possessions follow-
ing the fatal shooting of a 27-
year-old man.

According to police, a
Domingo Heights resident
became the country’s 17th
murder after he resisted two
masked armed men who
entered his home demanding
cash. The robbers were armed
with a shotgun and a hand-
gun.

Police spokeswoman Sgt
Chrislyn Skippings said: “Per-

SEE page three



FOR its second year, the ‘Empty Bowls’ event gave members of the public the chance to buy unique art - a ceramic bowl - and tasty soup, while
being entertained by ceramic art techniques, musical and dance performances. The proceeds will go to local charities to feed the hungry. The
afternoon of family fun, food, art and entertainment was held yesterday at the Sheraton.

‘VISIBLE CHANGES’ TO CARMICHAEL
ROAD SHANTY TOWNS IN NEXT YEAR

By NOELLE NICOLLS
Tribune Staff Reporter

nnicolls@tribunemedia.net

GOVERNMENT offi-
cials project the public will
see visible changes to
Carmichael Road shanty
towns in the next year.

Brensil Rolle, Garden
Hills Member of Parlia-
ment and Parliamentary
Secretary in the Ministry
of Housing, said the work
of transforming shanty
towns located on govern-
ment property has already
begun. He said the gov-

ernment is using a system-
atic approach to dealing
with the problem.

“Our intention is to
make the community a
clear and properly devel-
oped subdivision. One
year from now there ought
not to be squatters (in
Pride Estates). The shanty
towns there should be
gone and in its place there
should be a beautiful sub-
division with all the ameni-
ties that are in any regu-
lar subdivision. That is our

SEE page 13

NEW TERMINAL ‘WILL HAVE IMMEDIATE
IMPACT’ ON THE TOURISM INDUSTRY

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE opening of the new
US departures terminal at
the redeveloped Lynden Pin-
dling Airport will have an
“immediate impact” on the
growth and development of
the tourism industry, said
Robert Sands, former presi-
dent of the Bahamas Hotel
Association (BHA) and
senior vice president of
administration and external
affairs at Baha Mar.

“From Baha Mar’s per-
spective we congratulate the

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER



Nassau Airport Develop-
ment (NAD) for the fabu-
lous US departures terminal.
We believe it will certainly
go a long way in the visitor
experience. It will comple-
ment the product improve-
ments happening in the
country with Kerzner, Baha
Mar, the Corridor 7 road
linking Thompson Boulevard
to the rerouted West Bay
Street” said Mr Sands.
Baha Mar, the BHA and
Kerzner International have
jointly lobbied the govern-
ment on the issue of the air-

SEE page two



PAGE 2, MONDAY, FEBRUARY 28, 2011

LOCAL NEWS



FROM page one

port over the years. The
industry groups share the
view that a state of the art air-
port is an “important ingre-
dient” for tourism success.
One of the airport’s notable
critics has been Sol Kerzner,
chief executive officer of
Kerzner International. Dur-
ing the launch of phase three
of the Atlantis Resort he
called the airport one of the
world’s worst and said it was
totally out of step with the
top-end nature of the
Bahamian tourism product.
The official opening cere-
mony of the LPIA redevel-
opment phase one was held
on Friday. The estimated cost
of phase one was $190.8mil-
lion. Phases two and three
have already received Cabi-
net approval. Prime Minister
Hubert Ingraham estimated
their cost at $138.3million and

NEW TERMINAL ‘WILL
HAVE IMMEDIATE
IMPACT’ ON THE

TOURISM INDUSTRY

$71.98million, respectively.

“Infrastructurally the
Bahamas is transforming
itself; repositioning itself to
take advantage of tourism in
the future. I think it augurs
well. It was a job well done. A
first class facility and all
Bahamians can be very
proud,” said Mr Sands.

“T think it will make an
immediate impact. You cer-
tainly had a facility that was
highly criticised. You now
have one that is totally trans-
formed, in this phase. As we
complete additional phases it
will only enhance the reputa-
tion of the Bahamas as a seri-
ous player in tourism industry
in this hemisphere,” he said.

Reverend Joseph Pratt

19th November 1934 - 28th February 2008

We really miss you daddy and wish every day
that you were still here with us,
but we rest assured that your soul is in the
hands of God and you are at peace, —

On ee



THE TRIBUNE



























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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 3



LOCAL NEWS

BEC union, executive management
negotiations ‘improve’ after meetings

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

NEGOTIATIONS
between the Bahamas Elec-
trical Utility Managerial
Union and Bahamas Elec-
tricity Corporation's execu-
tive management have
improved following last
week’s “cordial” meetings.

Both groups acknowl-
edged the progress made by
negotiating teams so far, and
expressed their confidence
that conditions would not
deteriorate.

Michael Moss, BEC
chairman, said: “We had
two cordial meetings
between the negotiation
teams, further meetings are
planned during the course

MAN SHOT DEAD AFTER
RESISTING ARMED ROBBERS

FROM page one

sons who may be confronted by armed men or robbers,
we’re asking them to comply with the request. Try to
remain calm, try to get as much description as you pos-

sibly can from the culprit.”

The victim was discovered lying face down inside
his apartment shortly after 10pm on Saturday. He was
wearing a yellow T-shirt and denim shorts. The man’s
identity has not yet been released by police, however it
is believed he was a phone card vendor of Haitian

descent.

As police investigations continue, victims are urged
to fully scrutinise their assailant; looking for any scars
or markings on their arms, face, and neck, in addition
to clothing, height and physical build.

Sgt Skippings said: “Anything that can assist the
police in bringing the matter to a closure, for us to
apprehend the culprit. Don’t try to fight back. Exercise
safety and preserve your life, valuables can always be

replaced.”

She added: “We want to appeal to residents, they
have been doing a tremendous job of calling in refer-
ence to firearms and drugs. Please continue to assist us
in our effort to create a safer Bahamas.”

Anyone with any information which may assist police
investigations should call 911, 919 or call Crime Stop-
pers anonymously on 328-TIPS (8477).

EMOTIONAL SCENES after Saturday’s shooting.
Tim Clarke/Tribune staff

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a

Progress acknowledged by both teams

of this week. We are hope-
fully, based on the cordial
nature of the discussions so
far, that we will come to a
satisfactory agreement.”

Ervin Dean, union presi-
dent, said: “The numbers
are not as offensive as they
were last week. The discus-
sions have been very cordial
and it appears that they are
more willing now to come
and resolve these things.
We'll just go though and see
what happens.”

Mr Dean said BEC’s
executive management team
were due to present their
calculations after the bodies
discussed figures at their last
meeting on Thursday.

Ny See ty Fabric Pe rT

More than 80 per cent of
the Bahamas Electrical Util-
ity Managerial Union voted
to strike on February 18.

The union filed a strike
request with the Ministry of
Labour earlier this month
due to the stand-off over
negotiations for a new
industrial agreement and
salary increases.

In a statement last week,
the corporation sought to
defend its previous offer, a
draft agreement to the union
covering the initial, expired,
three-year period.

The statement read: “The
draft agreement provides for
lump sum payments to be
made to union members in

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respect of each of the
expired years, in addition to
the increment payments
union members would have
already received. The inten-
tion is for salary adjustments
to be provided for in the sec-
ond, three-year agreement.”
The statement also noted
that managers received
annual increases of approx-
imately three per cent, by
way of salary increments,
despite the corporation’s
recent history of losses
totalling almost $76 million
over a five-year period and
the recent tariff increase
imposed on consumers.
BEUMU's last industrial
agreement with the utility



























——

0-75 ¢.

a eR sl Et)

company expired on Sep-
tember 30, 2007. According
to Mr Dean, a clause in the
agreement, article 47, dic-
tates that the old agreement
will stand until a new con-
tract is signed.

Last week, Mr Dean
warned that if the next
scheduled meeting did not
go in their favour the union
may have to withdraw
labour.

In an interview with The
Tribune earlier this month,
Mr Dean said that due to
his union's small numbers —
about 100 members com-
pared to the 1,000 line staff
union — BEC's executive
management is "more afraid
of the workers resorting to
industrial action and cutting
out the lights" than strike

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THE TRIBUNE





CASE law suggests that at
Privy Council level, the govern-
ment would be exceeding its con-
stitutional powers if it grants
three-year exclusivity to Cable
& Wireless for providing mobile
service, claims Fox Hill MP Fred
Mitchell.

In a letter to the Utilities Reg-
ulation & Competition Authori-
ty (URCA), Mr Mitchell urged
the regulatory body not to grant
approval for the sale of BTC.

He said if it did, the action
would make the organisation
party to “an unconstitutional
result”.

“At best, before making a
decision, it should require the
applicants to address the ques-
tion as to whether or not the
exclusivity arrangement offends
the constitution,” he said.

The MP asserts there is no evi-
dence to show the change in con-
trol of the company will result
in greater benefits for consumers.

“The reputation of the pro-
posed new owners suggests quite
the contrary,” said Mr Mitchell.

“T assert further that the
change in control will not mean a
lessening of prices for consumers,
but will mean quite the opposite.
There is no evidence to suggest
in the Caricom region where
Cable and Wireless also oper-
ates that the prices to consumers
are any less than the prices that






FOX HILL MP Fred Mitchell has
spoken out against the sale of BTC.

Bahamians now pay. This pro-
posed change of control is there-
fore not in the public interest.”

Mr Mitchell said there should
be public hearings to enable the
optimum ability for representa-
tions to be made for or against
approval.

On Friday, BTC workers
protested outside of URCA
offices calling for "foreign" CEO
Usman Saadat to "leave the
country" because of his former
ties with Cable & Wireless.

The demonstrators, about 30
to 40 members of BTC's two
unions, carried placards which
read "URCA cannot be trust-

Vision of the Glorious Man

Daniel 10:1-9

In the third year of Cyrus king of Persia a
message was revealed to Daniel, whose name was
called Belteshazzar. The message was true, but the
appointed time was long:[a] and he understood
the message, and had understanding of the vi-
sion. In those days |, Daniel, was mourning three
full weeks. | ate no pleasant food, no meat or wine
came into my mouth, nor did | anoint myself at all,
till three whole weeks were fulfilled.Now on the
twenty-fourth day of the first month, as | was by
the side of the great river, that is, the Tigris,[b] |
lifted my eyes and looked, and behold, a certain
man clothed in linen, whose waist was girded with
gold of Uphaz! His body was like beryl, his face like
the appearance of lightning, his eyes like torches
of fire, his arms and feet like burnished bronze in
color, and the sound of his words like the voice of a
multitude. And 1, Daniel, alone saw the vision, forthe
men who were with me did not see the vision; but a
great terror fell upon them, so that they fled to hide
themselves. Therefore | was left alone when | saw this
great vision, and no strength remained in me; for
my vigor was turned to frailty in me, and | retained
no strength.Yet | heard the sound of his words;
and while | heard the sound of his words | was ina
deep sleep on my face, with my face to the ground.




























LOCAL NEWS

Three-year Cable & Wireless
exclusivity for mobile service
‘would be unconstitutional’

ed" and "URCA got to go." The
group marched on the sidewalk
outside URCA's East Bay Street
office, sang, some waved
Bahamian flags and chanted
"Usman got to go".

They demonstrated because
of Mr Saadat's “conflict of inter-
est" — he is a former C&W exec-
utive who left the company in
2008 — said union leaders. They
argued that the regulator's scruti-
ny of the sale will be "flawed"
due to Mr Saadat's history with
the company.

Union heads want the gov-
ernment to create a new inde-
pendent body to scrutinise the
sale of BTC to Cable & Wire-
less, arguing that employees at
the current regulator have too
many “coincidental” ties with the
UK-based telecommunications
provider.

It was recently revealed that
Marsha Lewis, a human
resources consultant to URCA,
worked at C&W until 2009. Mr
Saadat left the company in 2008.
Union leaders also find it worri-
some that an IT executive at
BTC is also a former employee
of C&W.

Mr Mitchell also expressed
“anxiety” about the involvement
of Mr Saadat and Ms Lewis in
the decision-making process.

“Each has had a relationship
with Cable and Wireless which is
so proximate that contaminates
the entire process. I take formal
objection to this matter being
considered by URCA in the cir-
cumstances of those individuals
being a part of URCA,” he said.

The Fox Hill MP pointed out
that the agreement between
Cable & Wireless requires a
three per cent management fee
to be paid to Cable & Wireless to
manage the Bahamian entity.

“This means that the owner
of the majority shares will be
charging a fee and the minority
shareholders will bear the costs
of that fee,” said Mr Mitchell.

“If URCA is minded to agree
to the change of control to which
I object, then a condition ought
to be added to your adjudication
by restricting the right of BTC
to pass those management fee
costs on to the consumer.

“T note further the intention
of the government to extend the
exclusivity period on cellular
phones for an additional 12
months.”

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PAGE 6, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



LOCAL NEWS

‘Misunderstanding’ over
lisabled parking spot

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

OWNERS of a Palmdale
complex are working to
resolve a “misunderstand-
ing” which arose over a dis-
abled parking spot.

A meeting is expected to
take place today between
the owners of the complex
and the three tenants: Star-
bucks, The Bahamas Foot
Centre and ABC Prosthet-
ics and Orthotics, a clinic
which caters to physically-
challenged clients and
offers free services for busi-
nesses to detail their hand-
icap spots.

The problem emerged
after ABC Prosthetics cre-
ated a handicap spot for
Starbucks customers in the
front parking lot. There is a
large parking lot to the rear
of the building for cus-
tomers of the three estab-
lishments, but there are

JC Penny Alar

Meeting expected between owners
of complex and three tenants

only ten spots in the front.
Four of them are now dis-
abled spots: three designat-
ed by ABC Prosthetics and
one commissioned by the
local Starbucks branch,
according to Erin Brown,
volunteer amputee at ABC
Prosthetics.

The Starbucks franchise
head office was not aware
of the arrangement
between ABC Prosthetics
and the Palmdale branch,
neither were the owners of
the complex. Both were
surprised to learn about
complaints from some
patrons.

Owners of the complex
say no one is taking respon-
sibility for authorising the
designation of the new
spot. They are refuting the

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claim that they “asked Star-
bucks to remove the spot”.

Tribune sources claim
“the whole thing seems to
be a misunderstanding”,
because one of the owners
only asked “what they were
doing and who authorised
it. She never said remove
it. She said she wanted to
check into it,” said the
source.

Tribune sources say the
owners “have always been
sympathetic to the less for-
tunate” in the community
and are “constantly
involved with charitable
activities”, including work-
ing with the disabled.

One Starbucks patron,
who parked in the new dis-
abled spot without a proper
decal, “had a problem”
when she was asked to
move, said a source. She
was Said to “know the own-
er”, and complained about
there being too many spots.

Ms Brown said she was
“saddened” by the
response of some patrons,
particularly because two of
the three establishments on
the complex cater to people
with disabilities.

A client at the Bahamas
Foot Centre told the Tri-
bune that medical patients
have complained for some
time about the lack of ade-
quate disabled parking
spots. She said there has
been “little to no under-
standing” over the years;
“no sympathy, empathy,

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compassion, and no love”.
Ms Brown said she was
“appalled” by some of the
“offensive” comments
made by patrons, and
thought it was the “height
of laziness’ that propelled
some customers to com-
plain about having to use
the back parking lot.
Owners are now working
to “come up with a com-
promise”. A request was
made for the owners to
present a written request

a a ee

Dr. *

‘Tonyé



asking for the spot to be
removed. Tribune sources
say the owners “are not
writing a letter”, because
they have no problem with
the spot as long as all of
the tenants are in agree-
ment.

“Tf it is removed it will
be a mutual decision,” said
the source, and the owners
will go along with whatever
decision the tenants collec-
tively agree to. They are
asking the public to respect

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made.

With some Starbucks
patrons complaining, 77i-
bune sources said the inter-
ested parties “don’t want
to jepordise their own busi-
ness”, while they want to
show they are “sympathet-
ic to the disabled”.

“We are currently
attempting to resolve the
matter in the best interest
of all concerned,” said the
source.

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THE TRIBUNE

and advancement of women

EVEN while lauding
progress on gender equity in
education and employment
opportunities, Minister of
State for Social Development
Loretta Butler-Turner said
that with the rapid advance-
ment in information and
communication technology
(ICT) shaping the global envi-
ronment, there is still much
work to do in the Bahamas to
increase the level of partici-
pation by women and girls in
the fields of education, train-
ing, science and technology.

Mrs. Turner was address-
ing the 55th session of the
Commission on the Status of
Women (CSW), which con-
vened at the UN under the
theme “access and participa-
tion of women and girls in
education, training, science
and technology, including for
the promotion of women’s
equal access to full employ-
ment and decent work.” Dur-
ing her address, Mrs. Turner
reaffirmed the commitment
of the Government of The
Bahamas to globally recog-
nized goals for access for
women and girls to educa-
tion and employment and
urged the elimination of gen-
der barriers in order to
empower women and girls to
fully participate in the scien-
tific and technical global envi-
ronment.

The minister said that the
Educational and Employ-
ment Acts of The Bahamas
ensure equal educational
rights for boys and girls and
full employment and decent
work for men and women.

“Increasingly girls are pur-
suing subjects that have tra-
ditionally been regarded as
‘male’ subjects in response to
the changing demands of the

MONDAY, FEBRUARY 28, 2011, PAGE 7

The Bahamas reaffirms
commitment to gender equality

MINISTER OF STATE
for Social Develop-
ment Loretta
Butler-Turner





local labour market,” she
reported.

“One of The Bahamas’
success stories in promoting
non-traditional educational
training and employment
opportunities for young peo-
ple is the establishment of
The Bahamas Technical and
Vocational Institute (BTVD,
which has seen greater num-
bers of females secking
careers in agriculture, con-
struction engineering, elec-
tronics, and automotive and
electrical engineering and
technology.”

Mrs. Turner also pointed
out that a significant number
of women currently hold
high-level administrative and
faculty positions throughout
the educational system of
The Bahamas, including sev-
eral leading associate and

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assistant professors in the nat-
ural sciences and environ-
mental studies and some who
have served as Chair of the
Natural Sciences Division at
the College of The Bahamas.

“While these are notable
achievements, I am well
aware that this is not
enough,” the minister said.
“With the rapid advancement
in information and commu-
nication technology (ICT)
shaping the global environ-
ment, we still have much
work to do in The Bahamas
to increase women and girls
participation in the field of
education, training, science
and technology. An over-
whelming number of female
graduates are still inclined to
pursue careers in the human-
ities, social sciences, and judi-
cial fields.”

- a _
Nr Internation






Diamonds International ts treating
its local clients and corporate
partners to a prize presentation and
movie night at the Galleria Cinemas
at the Mall at Marathon.

m [he purpose is to show local

> Bahamian customers how much

Diamonds Intemational has enjoyed

their patronage over the years, With

four (4) stores on Bay Street and

another underway, Diamonds

International continues to express

its appreciation for the loyalty shown

| by its Bahamian shoppers. Apart

from the charitable and other causes

to which the company has

contributed over the years,

Diamonds International continues

to position itself as a leader in fine

jewelry and Swiss time pieces, with its primary focus being high
quality customer service.

But all work will be put aside and no shopping will be done on the
evening of the premier showing of "Big Mama’‘s House II: Like
Father, Like Son", starring Martin Lawrence, as Diamonds
International and its partners go to the movies!

According to Adi Kaniel, General Manager, "we want our customers
to laugh and enjoy themselves for one evening, as we cater to them.
With jewelry and cashes prizes and other raffle surprises during the
evening, we intend to make this a happy occasion for all our invited
guests who are able to attend, as our goal is to demonstrate our
gratitude to those who continue to shop with us and recommend
Diamonds International as the retailer of choice for exquisite
jewelry."

odeana

FABRIC . FURNITURE . FIXTURES
PO Box SP 63884.

Caves VillaAge

Nassau, Bahamas

Tel’ Fax (242) 327-708-4/327-7085

Tuesday, March 1st - Saturday, March

10 a.m. - 6:00 p.m.

CODEANA will be re-organizing its warehouse and
cutting stone prices down to the minimum. The fol-
lowing will be on sale:

18" Jersualem Stone - $ 7.00 sq ft.

18" Polished Crema & Carrera Marble - $ 6.00 sq ft.
12" Polished Crema & Carrera Marble - $ 5.50 sq ft.
4x 4" Travertine - $4.00 sq. ft.

2x2" Travertine - $ 4.50 sqft.

Decorative Borders, Ogee
&
Pen Moldings

Codeana, Caves Village, West Bay St.
(Between Scotia Bank & Butler & Sands)
Ph - 327-7084 FX - 327-7085
Email - codeanainc@bellsouth.net



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



PAGE 8, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE





The galloping hooves of history:
insight

By SIR RONALD
SANDERS

(The writer is a Consultant
and former Caribbean
Diplomat)

THE Caribbean will not
escape the amazing events
the world has witnessed in
North African and Middle-
Eastern countries over the
last few weeks. The first
impact the region will face
is economic as both oil prices
and aviation fuel escalate in
price rapidly.

As I write this commen-
tary, crude oil future prices
have reached US$116 per
barrel with the chances that
they will rise still further as
the popular resistance

WORLD VIEW

against Libyan autocrat
Muammar Gadaffi grows
and his violent response
expands. The market is also
jittery over worry that the
mass protests that have
swept across several Middle-
Eastern countries will spread
to Saudi Arabia which had
earlier pledged to increase
oil production in order to
meet short-falls in demand
created by disruption to out-
put in Libya, Egypt, and



Bahrain. Middle-East
experts are declaring them-
selves by no means certain
that Saudi Arabia will escape
social disruption.

The worry is that the
heightened prices for oil will
feed its way into the world’s
economies causing a leap in
inflation and dragging down
the still fragile recovery in
the United States and Euro-
pean Union countries from
which the vast majority of

KIDZ CIFY

STOREWIDE

Thursday Feb 24th - Saturday March 5th

All sales final

Montrose Avenue and Oxford Street
(2 doors North of Multi-Discount)
P.O. Box N-1552, Nassau, Bahamas

Phone: 323-3460

Monday - Friday - 9:30 AM - 5:30 PM



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Under the theme
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SIR RONALD SANDERS

tourists to the Caribbean
come.

Apart from a decline in
tourism, airlines have begun
to slap increased fuel charges
on their already expensive
air fares discouraging travel
from Europe to the
Caribbean. The worst effect
of this will be felt by tourism
travel from Britain whose
government already has in
force an Air Passenger Duty
that is higher than a similar
duty on US destinations as
far away as San Francisco
and Hawaii.

Many Caribbean
economies — including those
in the clutches of an Inter-
national Monetary Fund
progamme — had been rely-
ing on quicker economic
recovery in the US and
European Union countries
to bolster their tourism rev-
enues this year and so
improve both their econom-
ic growth and employment,
both of which have declined.
Measured by the effects of
higher oil prices and costs of
aviation fuel, a dramatic
increase in tourism now
looks unlikely this year.

Worse yet, once the glob-
al increase in oil prices per-
meate through Caribbean
economies, prices for food,
electricity, transportation

and manufacturing will all
increase putting pressure on
populations that are already
experiencing a decline in
their earnings in real terms,
increased taxes and growing
unemployment.

For the Caribbean, there-
fore, what’s happening in the
Middle-East is not simply a
television drama or a distant
uprising; it’s a disastrous
development in real time
that will have tough conse-
quences for the region’s
economies.

Higher oil prices will also
create even greater reliance
by some Caribbean govern-
ments on the largesse of
Venezuelan strong man,
Hugo Chavez. Under the
Petro Caribe arrangement,
the Venezuelan government
provides oil to participating
Caribbean countries under a
system by which they pay a
portion of the price upfront
with the balance converted
to a loan on concessionary
terms. The problem about
this is that the debt of these
countries to the Venezuelan
government is rising expo-
nentially, placing them
increasingly in thrall to
Chavez and his domestic and
international policies.

If this arrangement con-
tinues, beyond the greater
influence that Chavez will be
able to exercise over the
Caribbean countries that are
highly indebted to his gov-
ernment, the size of the actu-
al monetary debt will
become a larger burden to
many of these nations. At
some point, in the future the
debt will have to be paid.

It may be that some
Caribbean governments are
operating under the expec-
tation or hope that Chavez
will eventually write-off the
debt. If this is the thinking, it
is dangerous not only
because Chavez may not be
in a position to write-off the
debt, but he may not even

be in power and a Venezue-
lan government more
focused on its domestic
development could both
insist on repayment, and
bring the Petro Caribe
arrangement to an end. The
region cannot pursue its
energy security and its debt
strategy on a policy of flying
on a wing and a prayer.
Chavez himself is no
longer the undisputed pop-
ulist leader of Venezuela.
His resort to expropriating
private businesses, including
Venezuelan-owned small
and medium-sized enterpris-
es; his closing down of media
on the claim that they
oppose him; his jailing of
political opponents; and his
attack (not for the first time)
on the Secretary-General of
the Organisation of Ameri-
can States, Jose Miguel
Insulza, over concern about
his actions in Venezuela that
contradict the spirit and let-
ter of the OAS Charter — all
of these indicate an element
of desperation and instabili-



HIGHER OIL PRICES will create
‘even greater reliance by some
Caribbean governments on the
largesse of Venezuelan strong
man, Hugo Chavez’ (above).

PERFORMANCE,

Mellin

Geoffrey Jones offers the fine line of General

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make us your ultimate appliance centre.

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





THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 9

|
Lessons from strong man politics



ty in the regime, and cer-
tainly speaks to disaffection
in the Venezuelan commu-
nity not unlike the brew that
had been steaming in the
Middle-East for some time
before it boiled over.

Chavez’s detention of a
female judge, Maria Lour-
des Afiuni, has caused the
United Nations Working
Group on Arbitrary deten-
tion to add her to its list of
arbitrarily detained persons
and the Inter-American
Commission on Human
Rights has called for her to
be tried or released. But, it
seems that Chavez is deaf to
the hooves of history that
have galloped through North
Africa and the Middle-East
toppling those who treated
civil and political rights with
scant regard.

In this connection, the
policy of successive Barba-
dos governments to stay out
of Petro Caribe and to meet
payments for oil as neces-
sary, may prove beneficial to
that nation’s autonomy in
policy formulation and deci-
sion-making. Trinidad and
Tobago, of course, as a pro-
ducer of oil and gas itself did
not need to engage Chavez
on Petro Caribe and remains
outside of his debt.

The current volatility in

JMS NATURAL
LOE, HENS A, COCOA T ONL A MORES

INDIAN
HAIR
GROWING
FORMULA

phd22-5209

oil prices caused by these
political developments
should cause Caribbean
countries to address the
problems of energy security
and the effect of high oil
prices in a collective manner,
and to start that process by
studying in a rational and
mature way what they could
do amongst themselves, and
then how they could engage
collectively in the interna-
tional market.

There remains room for
sensible and meaningful dis-








cussions between Trinidad
and Tobago and the other
members of the Caribbean
Community and Common
Market (CARICOM), and
maybe even for oil swop
deals with Belize and Suri-
name who now produce
some oil, if there is a gen-
uine will for regional coop-
eration.

What is certain is that the
Caribbean region which
prides itself on upholding
democracy and human rights
cannot stand by regimes that

NOTICE

are despotic. The tide is
beginning to turn, and not
even the United States has
been able to support its long-
time allies in the face of pop-
ular revolt.

Promises were made to
several Caribbean countries
by Gadaffi.

It is doubtful that he can
now help himself, let alone
them.

Responses and previous
commentaries at:
www.sirronaldsanders.com

BETTY K AGENCIES












OFFICES

have relocated

Now OPEN

NE corner of Victoria & Bay Streets
ALL PHONE NUMBERS REMAIN THE SAME.









BAY STREET — —

VICTORIA AVENUE

Regular sailings
have resumed
| as follows:
| Nassau - 2 per week
|

Abaco - | per week
as of March Ist.

BETTY K AGENCIES Ltp

Phone 322-2142 ¢ 322-2875 ° 322-2813
Freight Warehouse: 322-8926 Fax 242-322-6089

> TOREWIDE



Marathon Mall Town Center Mall Rosetta St. East St. Sout
Monday 28th February - Friday 4th March

Saturday oth March: Buy 1 Get 1 90% Off

1 DEPOT

*Of lesser value
Except NET items,
All sales final,
No exchange, refund or return.



ST) CECILIA’S CATHOLIC CHURCH

ie
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Or
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) SATURDAY MARCH 5", 2011
Cultural & Heritage Site,

Arawak Cay

rine

pit
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The Mercedes-Benz C-Class

Your most enjoyable drive ever.

The Mercedes-Benz C-Class is a pleasure
to behold offering a new interpretation of
driving pleasure. Its taut lines lend it an
air of effortless superiority while the wide
radiator grille and distinctive rear section
announce a vehicle with a real presence
and dynamic personality.

Few cars can compete with its ability to
adjust so many facets of its character -
from the interior to the drive technology -
so quickly and precisely in response

OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY

to external conditions and your own
particular needs. The key to this flexible
response is the standard-fit Agility
Control Package which includes
selective damping.

The interior offers noticeably more
space and a more distinctive atmosphere
to suit your taste. As you will see, the
C-Class is the perfect embodiment

of the Mercedes-Benz philosophy.

COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES

RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY.

Tyreflex Star Motors

Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 * Fax 242.323.4667



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







PAGE 10, MONDAY, FEBRUARY 28, 2011

Royal Bahamas Police Force

National Crime Prevention Office

‘SAFETY TIPS FOR JOGGERS’

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The Lyford Cay Foundations’

Grant Awards

The Lyford Cay Fourvdations' Gifts and Grants Committee
is pleased to announce that it is currently accepting grant
applications from Bahamian non-profit and charitable

organisations,

The annual application deadlines are as follows:

* February 7 to be considered by March 30
* April) tobe considered by june 1
* October 1 to be considered by November 20

The Foundations will consider assisting with projects

in the following areas:

* Education! Literacy
» After Schoal Progra rrrees,

* Youth Surmener Comps & Activities

@ Eneironnenta! Protection
» Health Care
* Core Facilities

* Mental Health Programmes
» Feeding Canines,

* Parenting Skills Traine

@ Crime Prenton

» Famih hand Prog rarerrees

For additional details and application fonms, please visit
wwwlyford cayfoundation.ong.

Forms are also aveilable from the Lyford Cay Foundations’

ad minktrative office.

ott

Your Dreams. Qur Mission.
Insgired Pivantirooy fora fetter Bahamas

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By CONSTABLE 3011
MAKELLE PINDER

JOGGING is a great
form of exercise that one
can do at their leisure, how-
ever while enjoying this
particular activity, one has
to take some form of pre-
caution for their safety.

A frequent error that jog-
gers or runners make is that
they become so preoccu-
pied in their physical activ-
ity; they fail to be alert and
pay attention to their sur-
roundings.

There are precautions

one has to take ranging
from all topics, which are
listed below.

AREA

Always make sure to run
in an area that you are
familiar with and that is safe
and do not jog or run near
bushes, which can provide
concealment.

This way you will not get
lost at you know the partic-
ular area and also if it is
safe the crime rate will be
low.

Always jog or run with a
known companion.

ATTENTION...

TO: ALL CIVIL SERVANTS!!!

(Not presently members of Public Workers’
Co-operative Credit Union Limited)

Just walk into the offices of the Public Workers’
Co-operative Credit Union Limited, in Nassau or
Freeport, with any amount of money, between
$100.00 and $5,000.00, and you could be approved
for DOUBLE that amount, pending receipt of:

1) Job Letter

2) Most recent salary slip
Passport (to be copied)

Approved salary deduction form
$10.00, onetime, membership fee

(

(

(3

(4) N.I.B. card (to be copied)
(5

(6

DOUBLE YOUR FUNDS.....

That’s right, a Loan approved within 24 hours!!

Come, and take advantage of this offer,
which begins Monday, February 21, 2011,
for a limited time only.

PUBLIC WORKERS’ CO-OPERATIVE
CREDIT UNION LIMITED
Nassau (323-6594) Freeport (351-7129)
“The Family Credit Union”



he ppt nh eel

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MP3s

A lot of joggers carry a
music player along with
them; make sure this is hid-
den as possible, by putting
the wires underneath cloth-
ing instead of out of it.

Also do not continually
get it out to change the song
as this can attract thieves.

Furthermore, also when
jogging keeping wires
tucked inside of clothing
makes the risk of tripping
over wires very slim.

The headphone may
come out of your ears and
fall to the floor thus you
trip over it, but when
tucked in it will not do this.

In addition, always make
sure that you can hear
background noise and nev-
er turn up your player so
that you cannot.

DOGS

Some runners are afraid
of dogs, and may see a few
dogs on their journey.

If you are extremely
afraid and dislike dogs, try
to avoid these situations. If
you see a dog by far take a
different route or stay far
away as possible.

However, inevitably
sometimes you will
encounter dogs on your jog-
ging expedition, so make
sure to keep calm and not
be tempted to run away as
they may chase you or if a
dog does attack, try to
"Feed" it your workout
jacket or other item of
clothing.

Remember to also carry
some canine repellent just
in case you are approached
by a attacking dog.

CLOTHING

Always make sure to
wear appropriate clothing
for the environment.

If it is a cold environment
wear clothing that will keep
you warm such as a track
suit.

If it is a hot environment
keep cool with light cloth-
ing that will keep you cool.
In addition, choose appro-
priate footwear and make
sure to tie the laces prop-
erly as you can trip over
them.

WATER

If you get thirsty easily or
for safety, it is best to carry
a water bottle with you, this
will keep you hydrated.



THE TRIBUNE

CONSTABLE 3011
MAKELLE PINDER

Some people may get
very thirsty and tired during
their run so drinking water
will cool you down.

MISCELLANEOUS

If you have asthma make
sure to always carry your
pump with you, even if you
feel you may not need it.
Also if you are carrying
keys or a phone with you
keep it in a safe place where
it is not likely to fall out.

When jogging, make sure
to make the experience as
pleasant as possible by tak-
ing these precautions.

Always Remember the B
Three A’s: Be Alert, Be
Aware, and Be Attentive
to your surroundings at all
times.

Should you be a victim of
crime while jogging, please
do not resist but take note
of the description of the cul-
prit e.g. his appearance,
clothing, height, physical
details and the direction or
mode of escape.

Call the Police as soon as
it is safe to do so.

If you come across any
suspicious person(s) loiter-
ing around your business or
have any information per-
taining to any crime, please
do not hesitate to contact
call the police emergency
at ‘919’ or Crime Stoppers
at 328-tips (New Provi-
dence), 1-300-8476 (Family
Islands)

a ;
fi | = = ia
roti d

A Gourmel Pizzeria
Made to Perfection!

242.396.9599

Saunders Beach, Nassau, Bahamas

a

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Friday

Thursday: 1 dar lpn
Sabra y: Ait oi

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Add an additional Jumbo Cheese Slice - $3.50

# 2- 1 JUMBO Slice Pepperoni & Drink-$6.00

Add an additional Jumbo Pepperoni Slice- $4.25
#3 -1 JUMBO Slice Specialty Pizza & Drink- $7.00
Add an additional Jumbo Specialty Slice- $5.00

“GETTING PERSONAL”

#4 - 1 Personal 1 Topping Pizza, Cheesy Bread &

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#5 - 1 Personal 1 Topping Pizza, 5pc. Buffalo/BBQ
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#6 - 1 Medium, 1 Topping Pizza, 2 16 oz Drink & 5pc

wings -$16.50

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Available sodas: Coke, Root Beer,
Sprite and Goombay.

Add cheesy bread to any order for $3.50. Add wings
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drink to any order for $1.25. Lunch Menu is available

from 11 am-4pm.

All Personal Pans -9 inches (64sq inches)
All Medium Pizzas - 12 inches (113sq inches)
Jumbo Slices - (39sq inches)

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





THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 11

LOCAL NEWS



Pilots attend ‘Let's
fly to the Islands
of the Bahamas’

seminar in Orlando

MORE than 150 pilots
packed a room at Showal-
ter Flying Service, in Orlan-
do to hear an instructional
discourse by the Federal
Aviation Administration
(FAA) on the international
navigation across the waters
from the Florida coast to
The Bahamas.

The seminar “Let’s fly to
the Islands of the Bahamas”
with Mark Griffin, FAA
examiner for the North
Florida FSDO, and an expe-
rienced Bahamian traveller,
was one of the highlights of
a successful ‘Bahamas Day
2011” event.

Organized and hosted by
Showalter, a Bahamas Pre-
ferred Gateway FBO, the
Saturday’s event drew sev-
eral hundreds that included
pilots and others in the avi-
ation industry, as well as
members of the public
interested in learning more
about The Bahamas and its
culture. The event marked
the second annual Bahamas
Day -— the first was hosted
by Banyan Air in 2010 — to
promote The Bahamas and
the ease of flying there.

In addition to the FAA
seminar, other seminars
included — "Preflighting
Your Passengers for Over-
water Flight" and “Pull the
Cord” a live life raft
demonstration with Amy
Laboda. A spectacular
Junkanoo performance,
Bahamian food, including
conch fritters cooked to
order and a fully-regaled
Bahamas police officer all
contributed to the event and
delivered an authentic taste
and feel of The Bahamas to
the hundreds that attended.

A wl photo

The aim of the Bahamas
Day event is to educate gen-
eral aviation pilots on the
ease of flying to The
Bahamas as well as to pro-
mote The Bahamas to the
general public.

The booths at the event
showcased information on
accommodations, dining,
activities and shopping in
The Bahamas, as well as
provided general aviation
pilot information and equip-
ment.

Among the sponsors of
this years event was AOPA,
respresented on site by its
vice president, pilot infor-
mation, Woody Cahill. Oth-
er sponsors. included
Odyssey Aviation, Pilot
Publishing - Pilot's Guide
Pilotmall.com, Our Lucaya
Resorts, Fernandez Bay
Village, Stella Maris Resort,
Treasure Cay Hotel Resort
& Marina, Cape Eleuthera
Hotel and Resort, Bimini
Big Game Club and Hope
Town Hide-away.



Bahamas day is a featured
marketing initiative of The
Bahamas Ministry of
Tourism and Aviation.

Under the leadership of
Greg Rolle, chief aviation
specialist and his team, the
ministry has over the past
few years launched a strate-
gic marketing campaign
aimed at capturing its share
of the licrative aviation
market that boasts near
50,000 general aviation
pilots in the Florida market
alone.



AN AERIAL VIEW of some of the 30 planes that flew into Showalter
Flying Service, Orlando Florida's FBO, for Bahamas Day 2011.

will be — +

Wyannie’s descendants - Be there!!!
Saturday March Sth, 2011

10am - 4pm

Hope Town, Abaco

Historic house tour

Plant sale

Sculling competition/Trophy presentation

Art show & Sale

Games

Interactive Historical Booths
(Turbot skins to Toys!)
Explore the Exhibits at the Museum
Research your Genealogy
Have photos taken in period costumes
Tons of food and baked goods
(Authentic Bahamian Cuisine - Yum!)

*** SPECIAL FERRY FARES***
Albury’s Ferry from Marsh Harbour
$15 round trip (All Day)

Froggies from Man-O-War - $15 round trip
(call 366-0431 to reserve your spot)

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

A GROUP SHOT OF VENDORS, sponsors and organisers of Showalter Flying Service, Orlando, Florida's
successful Bahamas Day 2011.




































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PAGE 12, MONDAY, FEBRUARY 28, 2011

LOCAL NEWS

THE TRIBUNE





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y WwW

SOME OF THE U.S. EMBASSY VOLUNTEERS who participated in the beach clean-up. From left, back row:
Robert Lee Kruger; Beth Tucker, Tonya Kelley, Louie Parks. Front row: Meg Fisher and Trevor Glasgow.



US Coast Guard spearheads

U.S. Embassy volunteers
gathered on West beach on
February 17 for their fourth
weekly beach cleanup since
the beginning of January.
The effort was spearheaded
by The U.S. Coast Guard
(USCG) in collaboration
with the Ministry of Envi-
ronment to help ensure that
the Bahamas remains
“green, clean and pristine.”

U.S. Coast Guard
Deputy Director, Tonya
Kelley, has been the driving
force behind the weekly
cleanups because as she puts
it she takes her role as a
guest in The Bahamas very
seriously. Local beach trash
increased just before Christ-
mas when a_ vessel
marooned off the coast of
Blackbeard Cay caused

U.S. EMBASSY VOLUNTEER
Marta Encarnacion participates
in the cleanup effort.

countless items to wash up
on shore.

Elizabeth Parks experi-
enced this first hand during
the inaugural clean up in
early January, which was
one of the busiest.

“We moved clothes, box
springs, and even two mat-
tresses,” Ms Parks said.
“We love The Bahamas and
its beaches and we want to
do anything that we can to
help keep them clean,” she
added.

Cleaning the beaches of
New Providence is part of
the U.S. Coast Guard’s
overreaching philosophy of
environmental protection
and responsibility.

Louie Parks, the Direc-
tor of Operation Bahamas
Turks and Caicos

eekly beach clean-ups
on New Providence

(OPBAT), believes that the
partnership with the Min-
istry of Environment, which
has assisted by hauling away
collected trash, is pivotal.

“The Ministry of the
Environment’s participation
in the OPBAT-USCG pro-
gramme also serves to moti-
vate and sustain the spirit of
the volunteers involved,”
Parks added.

The U.S. Embassy volun-
teers plan to continue the
beach-clean-up programme
on a weekly basis for the
foreseeable future. They
hope that their efforts will
encourage other local orga-
nizations to protect The
Bahamas’ natural beauty by
starting similar beach clean-
up programmes around New
Providence.



The Churches of The Nazarene

in The Babamas

under the theme:

“Lord Let Your Glory Mrise”

will be celebrating it's

36th Annual

Conventions &

Assembl

Tues. March 1st - Sun Marc

7:30p.m. Nightly

6th, 2011

At Central Church of The Nazarene
East Street South, South of Soldier Road
Hear anointed preaching from,

Rev. Kirk Curry, District Superintendent,
Dr. Alvan Burrell, Min. John Laguerre,
Pastor Leslie Philips of Freeport, Grand Bahama
& Dr. Scoffield Eversley of Trinidad

Join us for our leadership training.

Sessions beginning:

Tuesday, March 1st 10:00a.m. Daily
Come here melodious anointed singing from
various and The District Combined Choir



Dr. Alvan Burrell

Min. John Laguerre

COME AND BE RECGHARGED AND REVIVED



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





THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 13



REAL ESTATE: How to buy like a seller

By MIKE LIGHTBOURN

IF you're in the market to buy a
home, take a counter-intuitive tip
and imagine the day you'll be sell-
ing it.

That's right - whether you're a
first time purchaser, or moving
to another island, this home pur-
chase probably won't be your last,
so look for features that will pay
off when the day comes to move
on again.

One of the biggest amenities
the next buyer will look for is
central air conditioning. To give

you an idea, in the deep south in
the US, over 90 per cent of pur-
chasers rank central air as criti-
cally important, and three-quar-
ters of purchasers everywhere
else in the US put it high on the
list.

Another often-overlooked fea-
ture is storage. Over half of pur-
chasers desire a two-car garage
and a walk-in closet for the mas-
ter bedroom. Ample closets and
storage space just can't be
stressed enough.

If at all possible, avoid costly
upgrades and offer incentive

down the road by purchasing an
energy efficient home with newer
windows, pervasive insulation,
and energy saving appliances.

In the Bahamas, energy effi-
cient means windows that can
open during the cooler season,
but seal properly during the sum-
mer when air-conditioning is
used. Also, you will be greatly
rewarded with hurricane-proof
windows. Imagine not having to
batten down when a hurricane
approaches. If the home is
already wired for cable, satellite,
and high-speed Internet, so much

the better.

It used to be all about location,
location, location. This is still
extremely important because of
traffic congestion, which can only
get worse. So one of our biggest
considerations is proximity to the
things we need in life - schools,
food stores, work and so on.

Another consideration is how
relatively safe an area is. These
are all matters which are to be
considered.

However, in my opinion, the
most important factor is price,
price, price.



‘Visible changes’
to Carmichael
Road shanty
towns in next year

FROM page one

goal and that is what we
hope to achieve,” said Mr
Rolle.

The government is “only
beginning to put in the
rough infrastructure” for
the initial 90-lot develop-
ment, but once the subdi-
vision is redeveloped it is
expected to have 132 lots,
which will include public
open spaces, a commercial
centre, recreational centres
and business opportunities,
said Mr Rolle.

It will cover the area of
Sous Wach, Government
Yard, Mackey Yard, Mar-
garet Yard, and the Rasta-
farian Camp.

“There is a process that
must be followed when
dealing with human beings.
Although you may come to
a plot of land that is owned
by the government there is
a system in place that the
government itself must fol-
low. So, yes, the vast major-
ity of Bahamians would
like to see immediate
action taken, to see the
government roll in and
bulldoze the communities,
and perhaps many of them
may feel justified in doing
that, but I think sound and
good thinking Bahamians
realise a process must take
place before these things
can happen, which is why
we have taken the position
we have, starting in Pride

Estates,” said Mr Rolle.

“Our discussions with the
various groups in the area
have not been contentious.
They have been reasonable
and open. The people who
were squatting recognise
what we are trying to do.
Quite the opposite: people
are happy we are trying to
tackle this problem that is
huge in the country,” he
said.

A member of the United
Haitian Association in The
Bahamas (UHAB) said
there is no way of “pacify-
ing people” who want the
yards to be broken down
“since yesterday”; people
with a philosophy that says,
go in there with a bulldozer
and tear down the yards,
because they shouldn’t
have been there in the first
place.

“They might not be
working fast enough for
some, but they are doing it.
It is difficult to be humane,
to act systematically and to
be quick, so we hope peo-
ple can be patient,” said the
UHAB member. After all,
it took years for the villages
to grow to the scale at
which they are today.

“We are asking for
patience from the other
people. The government is
actually doing something,
and in two, three months
you will be able to drive
and see some of these vil-
lages coming down,” he
said.

First preference to buy a
house on the regulated land
is going to Bahamians who
have been squatting, per-
manent residents and chil-
dren born in the Bahamas
who are over 18.

Father Vilfort Roland of
the Queen of Peace Parish,
a Catholic church on Fire
Trail involved in Haitian
ministry, said leaders in the
community are working
with the government to
assist in regularising the
area. He said the commu-
nity supported the move to
improve the living condi-
tions and develop a proper
subdivision.

Government officials
confirmed the large pres-
ence of Bahamians factored
into the government's deci-
sion to start its shanty town
transformation programme
with Government Yard.

“It is the first area we are
regularising on a large
scale. That was taken into
account that a large num-
ber of Bahamians are on
the land. We want to make
sure first that persons,
Bahamians in particular
and others, who have lived
on the land and have
invested in the land, be giv-
en an opportunity to own
a piece of the property if
they qualify.

“That is the operative
word, they must qualify to
be able to legitimise their
position on the land,” said
Mr Rolle.

Oil price sparks
fuel cost fears

VACANCY
PUBLIC RELATIONS MANAGER

Sandals Royal Bahamian Spa Resort and Offshore Island invites suitably qualified
Bahamians to apply for the position of Pubhe Relations Manager. Candidates wall
possess strong writing and organizational skills, the ability to juggle several projects
at once and a desire to undertake a variety of communily imblimatives

We're looking for someone with an eye for a news story and media contacts in the
Bahamas to match, Experience working at this level preferably in a hospitality or
philanthropy environment is a benefit.

VAIS DUTIES AND RESPONSITBILITES

* Working with the Regional Public Relations Manager to coordinate local, regional
and International media relations
Devise and coordinate Sandals Foundation and outreach projects within the local
community and lead fundraising initiatives
Press release writing and event coordination
Support staff relations program
Attendance and participation at guests events and departmental brichngs
Support implementation of brand messaging and other internal communication
Ongoing media monitoring and reporting

UALIFICATIONS ASD EXPERIENCE

Bachelor of Arts Deeree in Mass Communications, Public Relations, Journalism,
or related field

Minimum two years experience in Public Relations, hospitality or related field
Ability to work flexible hours and to deadlines

Excellent oral and creative written communication and time management skills
Proficient in MS Office and other related programmes

Ambition, drive and personality are a must

Written applications and resume must be emailed to the Regional PR Manager at
yeherquaculltprp.sandals.com no later than Dlth March, 2001. Only suitable applicants
will be acknowledged.





FROM page one

$90 per barrel, but as Bahamian retailers
will feel the effects of oil price rises around
two months later, they want the govern-
ment to take action now.

Bernard Dorsett, owner of Porky's Tex-
aco Service Centre in East Street, Nassau,
has increased his overdraft to 18 per cent of
his earnings in order to pay for the petrole-
um which has risen by around 75 cents per
gallon over the last six months, and four
cents per gallon in the last three weeks.

He said he paid nearly $39,000 for gaso-
line yesterday, and will only get $26,000 in
return, while 4,000 gallons of diesel will set
him back over $4,000 and return only $190.

“We are teetering on the edge and we
need some relief,” Mr Dorsett said.

“There is no way we can continue like
this. As long as it continues to go up I'm
investing more money to make less mon-
ey. "

Mr Dorsett has been agitating for 24 years
for government to allow retailers to base
the income they draw per gallon of gaso-
line on a percentage of the cost, however the
government has given no indication whether
it will allow petroleum retailers any relief as
prices increase.

Prime Minister Hubert Ingraham con-

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

firmed in his mid-term budget address on
Wednesday that the average retail price of
gasoline and diesel rose by 23.8 per cent
and 14.1 per cent respectively, to $3.68 and
$4.33 per gallon, during an 11-month period
monitored by the Department of Statistics.

And the Bahamas Electricity Corporation
(BEC) increased its average fuel surcharge
by 36.8 per cent to $0.1379 per kilowatt
hour, compared to a 47.9 per cent reduc-
tion in 2009.

Mr Ingraham warned Bahamian house-
holds and businesses to implement appro-
priate conservation measures to minimise
the impact from anticipated energy and com-
modity price rises and Minister of State for
the Environment Phenton Neymour reiter-
ated the need to conserve energy yester-
day.

The minister in charge of utilities said
BEC is undertaking significant efforts to
improve energy efficiency through an exten-
sive maintenance programme.

This includes work at the Clifton Pier
power plant where he said BEC will max-
imise the use of heavy fuel oil Bunker C
over the more expensive diesel fuel.

The proposed use of Bunker C at a new
power plant in Wilson City, Abaco, sparked
protests in the community as hundreds of
locals voiced concern over its negative
impact on the environment.

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PAGE 14, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



INTERNATIONAL NEWS



Christchurch holds prayers
for victims of earthquake

CHRISTCHURCH,
New Zealand
Associated Press

PARISHIONERS came
together Sunday in parks and
on the lawns of churches bro-
ken in New Zealand's earth-
quake to pray for the dead
and missing. They sought
togetherness and an answer
to the question on everyone's
mind: Why?

"The randomness of the
events throws up the ‘why’
question more starkly,” the
Rev. Mark Chamberlain told
about 100 people who came
to hear his sermon outside
St. Barnabas Anglican
Church, where jagged cracks
line the walls, stained glass
windows are shattered and
the tower is sinking.

"Why did one person sur-
vive and one person die?
Why did the people in the
cathedral — of all places —
perish?"

Up to 22 people may be
buried in rubble at
Christchurch Cathedral, most
of them believed to be
tourists climbing the bell tow-
er for its panoramic views of
the southern New Zealand
city of Christchurch when it
was struck by last Tuesday's
6.3-magnitude quake.

The official death toll rose
Sunday to 147 as search
teams uncovered more bod-
ies in the debris and that
number was expected to rise,
police Superintendent Dave
Cliff said. Prime Minister
John Key has said the quake,
which decimated the city's
downtown, may be the coun-
try's "single-most tragic” dis-
aster.

The churches that dot the
city felt some of the worst of
the temblor’s wrath. Spires
toppled, stained glass win-
dows exploded, walls cracked
and masonry fell.





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Outside St. Barnabas, the
faithful — and those whose
faith has been tested by the
disaster — sat in chairs on
the lawn with heads bowed,
many wiping away tears, as
leaders of the 86-year-old
church tried to comfort them.

"This is not called
Christchurch for nothing,”
the Rev. Philip Robinson
said, drawing smiles from a
few. "We will rise again."

Many parishioners said
they relished the normalcy of
attending Sunday Mass amid
the heartbreak of the past
week, even if it wasn't quite
normal: where typically there
are smiles, there were tears,
and the sermon was occa-
sionally punctuated by the
wails of passing police cars
and the roar of a military
chopper overhead.

"It helps get back to nor-
mal, even if it's outside in the
sunshine,” said Mary Mills,
67. "But aren't we lucky to
be free? To be here?"

Tears

Nearby, Joe Oslawskyj, 41,
sat next to his wife and four
children, tears in his eyes.
The family only moved to
New Zealand from Man-
chester, England, three
weeks ago, and have been
struggling to cope since the
quake.

"It just means something
to be with all the people," his
40-year-old wife Joanne
Fagan-Oslawskyj said, weep-
ing.
"We're all the same, and
we're all together."

Staff members handed out
tambourines and rattles to
children, and the church
band played a series of
upbeat songs. Fagan-
Oslawskyj wiped the tears
from her eyes and smiled,

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picking up her 3-year-old
daughter Sarah and bounc-
ing her in time to the music,
as the little girl shook her rat-
tle and grinned.

Outdoor services also were
held at other churches and at
a library, where attendees
arrived on bicycle or on foot
and sat in folding chairs.

The Eucharist was per-
formed at St. Albans Park
with pita bread and a bottle
of Australian port because
wafers and communion wine
were lost in the quake.

Members of New
Zealand's indigenous Maori
community held a traditional
ceremony at the ruined
cathedral to bless spirits of
the dead believed buried
under the rubble there.

Other residents spent their
Sunday morning in more sec-
ular surroundings, such as the
botanical gardens, where oak
trees insulate the pathways
from the noise of the city's
rescue and recovery opera-
tions.

The Robb family, brothers
Neville and Graeme and
their wives Gael and
Michelle, met in the gardens,
as they do every Sunday, to
walk their dogs.

"You feel guilty doing
something so normal when
there is so much suffering,”
Michelle Robb said. "But the
dogs need walking."

Some 56 percent of New
Zealanders have a Christian
religious affiliation and near-
ly 35 percent profess no reli-
gion, while religions such as
Islam, Hinduism and Bud-
dhism are growing as immi-
grants arrive.

In other parts of the city,
residents did what they could
to help others: one family
walked the dusty streets,
handing out cupcakes to a
construction crew repairing
the fractured roads. A group




oe

RECOVERY WORKERS inspect the earthquake-damaged Pyn



e Gould Corporation building in Christchurch,

New Zealand, Saturday, Feb. 26, 2011. Tuesday's magnitude 6.3 temblor collapsed buildings, caused exten-
sive other damage killing more than 100 people and with 200 more missing. (AP)

of young men drove through
the city, hopping out of their
car at stop lights to hand foil-
wrapped plates of food to
nearby drivers.

After the service at St.
Barnabas, people gathered
by a table to have coffee,
scones and banana bread,

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and to comfort those in pain.

Megan Blakie, 45, stood in
the crowd, eyes brimming
with tears.

"T just am struggling with
where's God in all of this?"
she said. "It's not shattered
my faith, but it's hard to keep
going."

But she came to church
anyway, she said, because
she needed reassurance that
if her faith was faltering,
others would carry the bur-
den.

"Even if I can't pray at the
moment," she said, "Others

t

can.

——_,

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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 15



INTERNATIONAL NEWS



Libyan rebels
gear for fight in
city near capital

ZAWIYA, Libya
Associated Press

HUNDREDS of armed
anti-government forces
backed by military defectors
who control the city closest
to the capital Tripoli prepared
Sunday to repel an expected
offensive by forces loyal to
Moammar Gadhafi sur-
rounding Zawiya.

Two prominent U.S. Sena-
tors said Washington should
recognize and arm a provi-
sional government in rebel-
held areas of eastern Libya
and impose a no-fly zone over
the area — enforced by U.S.
warplanes — to stop attacks
by the regime. U.S. Secretary
of State Hillary Rodham Clin-
ton echoed President Barack
Obama's demand for Gadhafi
to relinquish power.

"We want him to leave,"
she told reporters traveling
with her Sunday to a U.N.
meeting on Libya planned for
Monday. "We want him to
end his regime and call off the
mercenaries and forces loyal
to him. How he manages that
is up to him."

Gadhafi's son, Seif al-Islam,
claimed again that the country
was calm and denied the
regime used force or airstrikes
against its own people. But
human rights groups and
European officials have put
the death toll since unrest
began in Libya nearly two
weeks ago at hundreds, or
perhaps thousands, though it
has been virtually impossible
to verify the numbers.

There were no reports of
violence or clashes on Sun-
day.

Gadhafi has launched by
far the bloodiest crackdown
in a wave of anti-regime upris-
ings sweeping the Arab world.
The United States, Britain
and the U.N. Security Council
all imposed sanctions on

Libya over the weekend. And
President Barack Obama said
it is time for Gadhafi to go.

The regime, eager to show
foreign reporters that the
country is calm and under
their control, took visiting
journalists to Zawiya, 30 miles
(50 kilometers) west of
Tripoli on Sunday. However,
the tour confirmed the anti-
government rebels are in con-
trol of the center of the city of
200,000. They have army
tanks and anti-aircraft guns
mounted on pickup trucks
deployed.

On the outskirts of the city,
they are surrounded by pro-
Gadhafi forces, also backed
by tanks and anti-aircraft
guns.

Troops

There were at least six
checkpoints controlled by
troops loyal to Gadhafi on the
road from Tripoli to Zawiya.
Each checkpoint was rein-
forced by at least one tank,
and the troops concealed their
faces with scarves.

"To us, Gadhafi is the
Dracula of Libya,” said Wael
al-Oraibi, an army officer at
Zawiya who joined the rebels.
He said his decision to defect
was prompted in large part
by the Libyan leader's use of
mercenaries from sub-Saha-
ran Africa against the people
of Zawiya.

A key city close to an oil
port and refineries, Zawiya is
the nearest population center
to Tripoli to fall into the
opposition hands. Police sta-
tions and government offices
inside the city have been
torched and anti-Gadhafi
graffiti was everywhere. Many
buildings are pockmarked by
bullets.

The mood in the city was
generally upbeat, but the
anticipation of a renewed

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to serve you.



attempt to retake the city was
causing some anxiety among
the rebels.

Meanwhile, cities in east-
ern Libya under the control
of rebels have appointed a
former minister to lead a pro-
visional government, officials
in Benghazi, Libya's second
largest city in the east, said
Sunday. But a spokesman for
the new government, Abdel-
Hafidh Ghoga, denied that
former justice minister
Mustafa Abdel-Jalil was
named its leader.

U.S. Democratic Senator
Joe Lieberman, speaking on
CNN's "State of the Union"
Sunday, said Washington
should arm the provisional
government in rebel-held
areas of eastern Libya "to
fight on behalf of the people
of Libya against a really cruel
dictator." He also proposed
imposing a no-fly zone over
the east to stop forces loyal
to Gadhafi from attacking.

Speaking on the same pro-
gram, Republican Senator
John McCain suggested that
U.S. warplanes are used to
enforce the no-fly zone and
that Washington recognizes
the government in eastern
Libya.

Gadhafi's son Seif al-Islam
denied in a TV interview that
his father's regime used force
or airstrikes against its own
people.

"Show me a single attack.
Show me a single bomb," he
told ABC's "This Week,"
according to a transcript.
"The Libyan air force
destroyed just the ammuni-
tion sites. That's it.”

Seif al-Islam is the most vis-
ible of Gadhafi's children and
has since the anti-government
protests broke out nearly two
weeks ago been acting as a
spokesman for the regime.

"The whole south is calm.
The west is calm. The middle



in Zawiya, 30 miles (50 kilometers) west of Tripoli, in Libya Sunday, Feb. 27, 2011. Hundreds of armed anti-gov-
ernment forces backed by military defectors in Zawiya, the city closest to the capital Tripoli, prepared Sunday
to repel an expected offensive by forces loyal to Moammar Gadhafi who are surrounding the city. (AP)

is calm. Even part of the
east," he said.

Asked about Obama's call
for his father to step down,
he said: "It's not an Ameri-
can business, that's No. 1. Sec-
ond, do they think this is a
solution? Of course not."

As for the U.S. freeze of
Libyan assets, he said: "First
of all, we don't have money
outside. We are a very modest
family and everybody knows
that."

Skeletons

"Gadhafi Out," chanted
hundreds in Zawiya's city cen-
ter on Sunday. The charred
skeletons of many cars lit-
tered the city and most streets
were blocked by palm tree
trunks or metal barricades.
"Free, Free Libya," chanted
members of the anti-govern-
ment forces at the city cen-
ter.

"Down with Gadhafi, the




mass murderer,” read graffiti
scrawled in the city. An effigy
of Gadhafi hung from a light
pole in the city's main square.
On its chest the words "Exe-
cute Gadhafi" were embla-
zoned.

The square has now
become the burial place of six
of 11 rebels killed by pro-
Gadhafi forces Thursday
when they attacked the area
to try and dislodge them. Res-
idents reported several skir-
mishes between the two sides
since Thursday.

"We are all wanted," said
one rebel at the square who
did not want to give his name
for fear of reprisals. "Zawiya
in our hands is a direct threat
to Tripoli."

Rebels from the town and
army forces who defected
from the regime to join them
largely consolidated control
of the town on Feb. 24, after
an army unit that remained
loyal to Gadhafi opened fire

on a mosque where residents
— some armed with hunting
rifles for protection — had
been holding a sit-in.

About 20 miles (30 Kilo-
meters) west of Zawiya, some
3,000 pro-Gadhafi demon-
strators gathered on the
coastal highway, chanting slo-
gans in support of the Libyan
leader.

Before Zawiya fell to rebel
forces, Gadhafi scolded the
city residents on Thursday.

"Shame on you, people of
Zawiya.

“Control your children,” he
said. "They are loyal to bin
Laden," he said of those
involved in the uprising.
"What do you have to do with
bin Laden, people of Zawiya?
They are exploiting young
people ... I insist it is bin
Laden."

On Feb. 24, local forces
repelled an attempt by militi-
amen and pro-Gadhafi troops
to take back the town.

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PAGE 1

N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER V olume: 107 No.82MONDAY, FEBRUARY 28, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER SUNSHINE ANDBREEZY HIGH 84F LOW 71F B U S I N E S S SEESECTIONB S P O R T S Hostile $12m AML offer is withdrawn SEESECTIONE Pacers set to face Stingers for title By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net P ETROLEUM retailers losing out on the rising costof fuel are calling on the government to give thems ome relief as they fear fur ther rises in fuel prices will put them out of business. A group of 18 retailers, braced for the impact a hefty rise in the cost of crude oil will have on their businesses, have written to the Ministry of Finance in anticipation of b eing priced out of the mar ket. Retailers are restricted to taking 44 cents for every gal l on of gasoline they sell, and 19 cents per gallon of diesel, regardless of the price theyp ay for fuel, and want the government to ease restric tions before they are driven o ut of business. O il prices stabilised on Friday after unrest in the Middle East drove the price of crude oil to more than M cCOMBO O F THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM Oil price sparks fuel cost fears I N S I D E SECTIONINSIDE Real Estate Retailers call on govt for relief By AVA TURNQUEST T ribune Staff Reporter a turnquest@tribunemedia.net VICTIMS of armed robb ers are urged not to with hold their possessions following the fatal shooting of a 27-y ear-old man. According to police, a Domingo Heights resident became the countrys 17th murder after he resisted two masked armed men who entered his home demandingc ash. The robbers were armed with a shotgun and a hand gun. P olice spokeswoman Sgt Chrislyn Skippings said: PerSEE page thr ee MAN SHOT DEAD AFTER RESISTING ARMED ROBBERS THE Tribune would like to clarify that Patrick Terrence Robinson is not a PLP webmaster, nor is he affiliated with that party in any way. Both Mr Robinson and a PLP webmaster took separate videos of Wednesdays anti-PLP demonstration. He was wrongly confused with the webmaster after a PLP operative, without identifying himself as such, approached Mr Robinson about posting his video on the internet. Mr Robinson said he had no idea how his video was going to be used, and has distanced himself from any comments attached to versions of the video appearing on various websites. CLARIFICA TION SEE page 13 By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net GOVERNMENT officials project the public will see visible changes to Carmichael Road shanty towns in the next year. Brensil Rolle, Garden Hills Member of Parliament and Parliamentary Secretary in the Ministry of Housing, said the work of transforming shanty towns located on government property has already begun. He said the gov ernment is using a system atic approach to dealing with the problem. Our intention is to make the community a clear and properly devel oped subdivision. One year from now there ought not to be squatters (in Pride Estates). The shanty towns there should be gone and in its place there should be a beautiful sub division with all the amenities that are in any regular subdivision. That is our By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net THE opening of the new US departures terminal at the redeveloped Lynden Pin dling Airport will have an immediate impact on the growth and development of the tourism industry, said Robert Sands, former president of the Bahamas Hotel Association (BHA senior vice president of administration and external affairs at Baha Mar. From Baha Mars per spective we congratulate the Nassau Airport Development (NAD lous US departures terminal. We believe it will certainly go a long way in the visitor experience. It will complement the product improvements happening in the country with Kerzner, Baha Mar, the Corridor 7 road linking Thompson Boulevard to the rerouted West Bay Street said Mr Sands. Baha Mar, the BHA and Kerzner International have jointly lobbied the government on the issue of the air SEE page two SEE page 13 NEW TERMIN AL WILL HAVE IMMEDIATE IMPACT ON THE TOURISM INDUSTRY VISIBLE CHANGES T O CARMICHAEL ROAD SHANTY TOWNS IN NEXT YEAR FOR its second year, the Empty Bowls event gave members of the public the chance to buy unique art a ceramic bowl and tasty soup, while being entertained by ceramic art techniques, musical and dance performances. The proceeds will go to local charities to feed the hungry. The afternoon of family fun, food, art and entertainment was held yesterday at the Sheraton. T i m C l a r k e / T r i b u n e s t a f f EMPTYBOWLS EVENTSERVESUPARTANDENTERTAINMENT

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L OCAL NEWS P AGE 2, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM p ort over the years. The industry groups share the view that a state of the art airport is an important ingredient for tourism success. One of the airports notable c ritics has been Sol Kerzner, c hief executive officer of Kerzner International. During the launch of phase three of the Atlantis Resort he called the airport one of thew orlds worst and said it was t otally out of step with the t op-end nature of the Bahamian tourism product. The official opening ceremony of the LPIA redevelopment phase one was heldo n Friday. The estimated cost of phase one was $190.8million. Phases two and three have already received Cabinet approval. Prime Minister Hubert Ingraham estimated their cost at $138.3million and $71.98million, respectively. Infrastructurally the Bahamas is transforming itself; repositioning itself tot ake advantage of tourism in t he future. I think it augurs well. It was a job well done. A first class facility and all Bahamians can be very proud, said Mr Sands. I think it will make an i mmediate impact. You cert ainly had a facility that was highly criticised. You now have one that is totally transformed, in this phase. As we complete additional phases itw ill only enhance the reputat ion of the Bahamas as a serious player in tourism industry in this hemisphere, he said. F ROM page one N EW TERMINAL WILL H AVE IMMEDIATE I MPACT ON THE T OURISM INDUSTRY S CENES f rom the opening of the new terminal.Photos courtesy/ S honalee Johnson

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By AVA TURNQUEST Tribune Staff Reporter a turnquest@tribunemedia.net NEGOTIATIONS between the Bahamas Electrical Utility Managerial Union and Bahamas Electricity Corporation's execut ive management have improved following last weeks cordial meetings. B oth groups acknowledged the progress made by negotiating teams so far, and e xpressed their confidence t hat conditions would not d eteriorate. M ichael Moss, BEC c hairman, said: We had t wo cordial meetings between the negotiation teams, further meetings are planned during the course o f this week. We are hopefully, based on the cordial nature of the discussions so far, that we will come to a satisfactory agreement. Ervin Dean, union president, said: The numbers a re not as offensive as they w ere last week. The discuss ions have been very cordial and it appears that they are more willing now to comea nd resolve these things. Well just go though and see what happens. Mr Dean said BECs e xecutive management team were due to present their calculations after the bodies d iscussed figures at their last m eeting on Thursday. M ore than 80 per cent of the Bahamas Electrical Utility Managerial Union voted to strike on February 18. The union filed a strike request with the Ministry of Labour earlier this month d ue to the stand-off over n egotiations for a new i ndustrial agreement and salary increases. In a statement last week, t he corporation sought to defend its previous offer, a draft agreement to the union covering the initial, expired, t hree-year period. The statement read: The draft agreement provides for l ump sum payments to be m ade to union members in r espect of each of the expired years, in addition to the increment payments union members would have already received. The intention is for salary adjustments to be provided for in the seco nd, three-year agreement. T he statement also noted t hat managers received annual increases of approximately three per cent, byw ay of salary increments, despite the corporations recent history of losses totalling almost $76 million o ver a five-year period and the recent tariff increase imposed on consumers. B EUMU's last industrial a greement with the utility company expired on September 30, 2007. According to Mr Dean, a clause in the agreement, article 47, dict ates that the old agreement w ill stand until a new cont ract is signed. Last week, Mr Dean warned that if the next scheduled meeting did not g o in their favour the union m ay have to withdraw l abour. In an interview with The T ribune e arlier this month, M r Dean said that due to his union's small numbers about 100 members compared to the 1,000 line staff union BEC's executive management is "more afraid of the workers resorting to i ndustrial action and cutting o ut the lights" than strike action from BEUMU. H owever, he said the memb ership would not engage in any "sabotage." S peaking to T he Tribune y esterday, Mr Dean said: They should be providing us with some information at the next meeting. Once wed o that everything should start to fall in line very quickly. LOCAL NEWS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM BEC union, executive management negotiations improve after meetings s ons who may be confronted by armed men or robbers, were asking them to comply with the request. Try to remain calm, try to get as much description as you possibly can from the culprit. The victim was discovered lying face down inside his apartment shortly after 10pm on Saturday. He wasw earing a yellow T-shirt and denim shorts. The mans identity has not yet been released by police, however it is believed he was a phone card vendor of Haitian descent. As police investigations continue, victims are urged to fully scrutinise their assailant; looking for any scars o r markings on their arms, face, and neck, in addition t o clothing, height and physical build. Sgt Skippings said: Anything that can assist the police in bringing the matter to a closure, for us toa pprehend the culprit. Dont try to fight back. Exercise s afety and preserve your life, valuables can always be replaced. She added: We want to appeal to residents, they h ave been doing a tremendous job of calling in reference to firearms and drugs. Please continue to assist us in our effort to create a safer Bahamas. A nyone with any information which may assist police investigations should call 911, 919 or call Crime Stoppers anonymously on 328-TIPS (8477 MAN SHOT DEAD AFTER RESISTING ARMED ROBBERS EMOTIONAL S CENES after Saturdays shooting. Tim Clarke /Tribune staff Share your news The Tribune wants to hear fr om people who ar e 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. CORDIAL MEETINGS: M ichael Moss Progress acknowledged by both teams FROM page one

PAGE 4

CASE law suggests that at Privy Council level, the government would be exceeding its constitutional powers if it grants three-year exclusivity to Cable & Wireless for providing mobile service, claims Fox Hill MP Fred Mitchell. In a letter to the Utilities Regulation & Competition Authority (URCA the regulatory body not to grant approval for the sale of BTC. He said if it did, the action would make the organisation party to an unconstitutional result. At best, before making a decision, it should require the applicants to address the question as to whether or not the exclusivity arrangement offends the constitution, he said. The MP asserts there is no evidence to show the change in control of the company will result in greater benefits for consumers. The reputation of the proposed new owners suggests quite the contrary, said Mr Mitchell. I assert further that the change in control will not mean a lessening of prices for consumers, but will mean quite the opposite. There is no evidence to suggest in the Caricom region where Cable and Wireless also operates that the prices to consumers are any less than the prices that Bahamians now pay. This proposed change of control is therefore not in the public interest. Mr Mitchell said there should be public hearings to enable the optimum ability for representations to be made for or against approval. On Friday, BTC workers protested outside of URCA offices calling for "foreign" CEO Usman Saadat to "leave the country" because of his former ties with Cable & Wireless. The demonstrators, about 30 to 40 members of BTC's two unions, carried placards which read "URCA cannot be trusted" and "URCA got to go." The group marched on the sidewalk outside URCA's East Bay Street office, sang, some waved Bahamian flags and chanted "Usman got to go". They demonstrated because of Mr Saadat's "conflict of interest" he is a former C&W executive who left the company in 2008 said union leaders. They argued that the regulator's scrutiny of the sale will be "flawed" due to Mr Saadat's history with the company. Union heads want the government to create a new independent body to scrutinise the sale of BTC to Cable & Wireless, arguing that employees at the current regulator have too many "coincidental" ties with the UK-based telecommunications provider. It was recently revealed that Marsha Lewis, a human resources consultant to URCA, worked at C&W until 2009. Mr Saadat left the company in 2008. Union leaders also find it worrisome that an IT executive at BTC is also a former employee of C&W. Mr Mitchell also expressed anxiety about the involvement of Mr Saadat and Ms Lewis in the decision-making process. Each has had a relationship with Cable and Wireless which is so proximate that contaminates the entire process. I take formal objection to this matter being considered by URCA in the circumstances of those individuals being a part of URCA, he said. The Fox Hill MP pointed out that the agreement between Cable & Wireless requires a three per cent management fee to be paid to Cable & Wireless to manage the Bahamian entity. This means that the owner of the majority shares will be charging a fee and the minority shareholders will bear the costs of that fee, said Mr Mitchell. If URCA is minded to agree to the change of control to which I object, then a condition ought to be added to your adjudication by restricting the right of BTCto pass those management fee costs on to the consumer. I note further the intention of the government to extend the exclusivity period on cellular phones for an additional 12 months. LOCAL NEWS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM >Q[QWVWPM/TWZQW][IV Three-year Cable & Wireless exclusivity for mobile service would be unconstitutional FOX HILLMP Fred Mitchell has spoken out against the sale of BTC.

PAGE 5

By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net OWNERS of a Palmdale c omplex are working to r esolve a misunderstanding which arose over a disabled parking spot. A meeting is expected to take place today between t he owners of the complex a nd the three tenants: Starbucks, The Bahamas Foot Centre and ABC Prosthetics and Orthotics, a clinic which caters to physicallychallenged clients and offers free services for busin esses to detail their handi cap spots. The problem emerged a fter ABC Prosthetics crea ted a handicap spot for S tarbucks customers in the front parking lot. There is a large parking lot to the rearo f the building for customers of the three establ ishments, but there are only ten spots in the front. Four of them are now disa bled spots: three designate d by ABC Prosthetics and o ne commissioned by the local Starbucks branch, according to Erin Brown, volunteer amputee at ABC P rosthetics. T he Starbucks franchise h ead office was not aware o f the arrangement b etween ABC Prosthetics a nd the Palmdale branch, neither were the owners of the complex. Both were surprised to learn about complaints from some patrons. Owners of the complex s ay no one is taking responsibility for authorising the designation of the news pot. They are refuting the claim that they asked Starbucks to remove the spot. T ribune s ources claim the whole thing seems to b e a misunderstanding, because one of the owners only asked what they were doing and who authorised i t. She never said remove i t. She said she wanted to c heck into it, said the s ource. T ribune s ources say the o wners have always been sympathetic to the less fortunate in the community and are constantly involved with charitable activities, including working with the disabled. O ne Starbucks patron, who parked in the new disabled spot without a properd ecal, had a problem w hen she was asked to m ove, said a source. She was said to know the owner, and complained aboutt here being too many spots. Ms Brown said she was saddened by the response of some patrons, particularly because two of the three establishments on the complex cater to people w ith disabilities. A client at the Bahamas Foot Centre told the Tribune that medical patients h ave complained for some time about the lack of adequate disabled parking spots. She said there hasb een little to no unders tanding over the years; no sympathy, empathy, compassion, and no love. Ms Brown said she was appalled by some of the offensive comments made by patrons, andt hought it was the height of laziness that propelled s ome customers to complain about having to use the back parking lot. O wners are now working to come up with a com promise. A request was made for the owners top resent a written request asking for the spot to be removed. Tribune sources s ay the owners are not writing a letter, because they have no problem witht he spot as long as all of the tenants are in agreem ent. If it is removed it will be a mutual decision, saidt he source, and the owners will go along with whatever decision the tenants collec tively agree to. They are a sking the public to respect whichever decision is made. W ith some Starbucks patrons complaining, Tribune sources said the intere sted parties dont want to jepordise their own busin ess, while they want to show they are sympathet ic to the disabled. We are currently attempting to resolve the matter in the best interest of all concerned, said thes ource. L OCAL NEWS P AGE 6, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Misunderstanding over disabled parking spot Meeting expected between owners of complex and three tenants O WNERS o f the complex are working to resolve the misunderstanding over the disabled spot.

PAGE 6

L OCAL NEWS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM EVENwhile lauding progress on gender equity in education and employment opportunities, Minister of S tate for Social Development L oretta Butler-Turner said t hat with the rapid advancement in information and communication technology (lCT ronment, there is still much work to do in the Bahamas to increase the level of participation by women and girls in t he fields of education, traini ng, science and technology. Mrs. Turner was addressing the 55th session of the Commission on the Status of Women (CSW vened at the UN under the theme access and participat ion of women and girls in e ducation, training, science a nd technology, including for t he promotion of womens e qual access to full employm ent and decent work. During her address, Mrs. Turner reaffirmed the commitmentof the Government of The Bahamas to globally recognized goals for access for women and girls to educat ion and employment and urged the elimination of gen der barriers in order toe mpower women and girls to f ully participate in the scien t ific and technical global environment. The minister said that the E ducational and Employment Acts of The Bahamas ensure equal educational rights for boys and girls andf ull employment and decent work for men and women. Increasingly girls are pur suing subjects that have tra d itionally been regarded as male subjects in response to the changing demands of the local labour market, she r eported. One of The Bahamas s uccess stories in promoting n on-traditional educational training and employment opportunities for young people is the establishment of The Bahamas Technical and Vocational Institute (BTVI which has seen greater numb ers of females seeking careers in agriculture, con struction engineering, elec-t ronics, and automotive and e lectrical engineering and t echnology. Mrs. Turner also pointed out that a significant numbero f women currently hold high-level administrative and faculty positions throughout the educational system ofT he Bahamas, including sev eral leading associate and assistant professors in the natu ral sciences and environm ental studies and some who h ave served as Chair of the N atural Sciences Division at the College of The Bahamas. While these are notable achievements, I am well aware that this is not enough, the minister said. With the rapid advancement i n information and communication technology (lCT shaping the global environm ent, we still have much w ork to do in The Bahamas t o increase women and girls participation in the field of education, training, sciencea nd technology. An over whelming number of female graduates are still inclined to pursue careers in the human i ties, social sciences, and judi cial fields. The Bahamas reaffirms commitment to gender equality and advancement of women MINISTER OF STATE for Social Development Loretta B utler-Turner

PAGE 7

B y SIR RONALD SANDERS (The writer is a Consultant and former Caribbean Diplomat) T HE Caribbean will not escape the amazing events the world has witnessed in North African and MiddleEastern countries over the last few weeks. The first i mpact the region will face i s economic as both oil prices and aviation fuel escalate in price rapidly. As I write this commentary, crude oil future pricesh ave reached US$116 per b arrel with the chances that t hey will rise still further as the popular resistance a gainst Libyan autocrat Muammar Gadaffi grows and his violent response expands. The market is also jittery over worry that the mass protests that haves wept across several MiddleE astern countries will spread to Saudi Arabia which had earlier pledged to increase oil production in order to meet short-falls in demand created by disruption to outp ut in Libya, Egypt, and B ahrain. Middle-East experts are declaring themselves by no means certain that Saudi Arabia will escape social disruption. The worry is that the h eightened prices for oil will f eed its way into the worlds economies causing a leap in inflation and dragging down the still fragile recovery in the United States and European Union countries from w hich the vast majority of tourists to the Caribbean come. Apart from a decline in tourism, airlines have begunt o slap increased fuel charges on their already expensive a ir fares discouraging travel from Europe to the Caribbean. The worst effect of this will be felt by tourism travel from Britain whose g overnment already has in f orce an Air Passenger Duty t hat is higher than a similar d uty on US destinations as far away as San Francisco a nd Hawaii. Many Caribbean e conomies including those in the clutches of an Intern ational Monetary Fund p rogamme had been relying on quicker economic r ecovery in the US and E uropean Union countries t o bolster their tourism reve nues this year and so improve both their economi c growth and employment, both of which have declined. Measured by the effects ofh igher oil prices and costs of a viation fuel, a dramatic increase in tourism now l ooks unlikely this year. Worse yet, once the global increase in oil prices permeate through Caribbean e conomies, prices for food, electricity, transportation and manufacturing will all i ncrease putting pressure on p opulations that are already experiencing a decline in their earnings in real terms, increased taxes and growing unemployment. For the Caribbean, theref ore, whats happening in the M iddle-East is not simply a television drama or a distant uprising; its a disastrous development in real time that will have tough conseq uences for the regions e conomies. H igher oil prices will also create even greater reliance by some Caribbean governments on the largesse of Venezuelan strong man,H ugo Chavez. Under the Petro Caribe arrangement, the Venezuelan government p rovides oil to participating Caribbean countries under a system by which they pay ap ortion of the price upfront with the balance converted to a loan on concessionaryt erms. The problem about t his is that the debt of these countries to the Venezuelan government is rising expon entially, placing them increasingly in thrall to Chavez and his domestic andi nternational policies. I f this arrangement continues, beyond the greater influence that Chavez will be able to exercise over the Caribbean countries that are highly indebted to his gov-e rnment, the size of the actual monetary debt will become a larger burden to many of these nations. At some point, in the future the debt will have to be paid. I t may be that some C aribbean governments are operating under the expectation or hope that Chavezw ill eventually write-off the debt. If this is the thinking, it is dangerous not only because Chavez may not bei n a position to write-off the debt, but he may not even be in power and a Venezuel an government more f ocused on its domestic development could both insist on repayment, and bring the Petro Caribe arrangement to an end. The region cannot pursue itse nergy security and its debt s trategy on a policy of flying on a wing and a prayer. Chavez himself is no longer the undisputed populist leader of Venezuela. H is resort to expropriating p rivate businesses, including V enezuelan-owned small and medium-sized enterprises; his closing down of media on the claim that they oppose him; his jailing ofp olitical opponents; and his attack (not for the first time on the Secretary-General of t he Organisation of American States, Jose Miguel Insulza, over concern abouth is actions in Venezuela that contradict the spirit and letter of the OAS Charter allo f these indicate an element o f desperation and instabiliP AGE 8, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The galloping hooves of history: Lessons from strong man politics WORLDVIEW SIRRONALDSANDERS HIGHER OIL PRICES will create even greater reliance by some C aribbean governments on the largesse of Venezuelan strong man, Hugo Chavez (above

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ty in the regime, and cert ainly speaks to disaffection i n the Venezuelan community not unlike the brew that had been steaming in the Middle-East for some time before it boiled over. Chavezs detention of a f emale judge, Maria Lourd es Afiuni, has caused the United Nations Working Group on Arbitrary detention to add her to its list of arbitrarily detained personsa nd the Inter-American C ommission on Human Rights has called for her to be tried or released. But, it seems that Chavez is deaf tothe hooves of history that have galloped through NorthA frica and the Middle-East t oppling those who treated civil and political rights withs cant regard. In this connection, the policy of successive Barbad os governments to stay out of Petro Caribe and to meet payments for oil as neces-s ary, may prove beneficial to that nations autonomy in policy formulation and decision-making. Trinidad and Tobago, of course, as a producer of oil and gas itself did not need to engage Chavezo n Petro Caribe and remains outside of his debt. The current volatility in oil prices caused by these p olitical developments s hould cause Caribbean countries to address the problems of energy security and the effect of high oil prices in a collective manner, and to start that process bys tudying in a rational and m ature way what they could do amongst themselves, and then how they could engage collectively in the international market. T here remains room for s ensible and meaningful discussions between Trinidad a nd Tobago and the other m embers of the Caribbean Community and Common Market (CARICOM maybe even for oil swop deals with Belize and Suriname who now produces ome oil, if there is a genu ine will for regional cooperation. What is certain is that the Caribbean region which prides itself on upholdingd emocracy and human rights c annot stand by regimes that are despotic. The tide is b eginning to turn, and not e ven the United States has been able to support its longtime allies in the face of popular revolt. Promises were made to several Caribbean countriesb y Gadaffi. I t is doubtful that he can now help himself, let alone them. Responses and previous c ommentaries at: w ww.sirronaldsanders.com THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM The Mercedes-Benz C-ClassYour most enjoyable drive ever.T he Mercedes-Benz C-Class is a pleasure tobehold offering a new interpretation of driving pleasure. Its taut lines lend it an a ir of effortless superiority while the wide radiator grille and distinctive rear section announce a vehicle with a real presence and dynamic personality. Few cars can compete with its ability to adjust so many facets of its character from the interior to the drive technology so quickly and precisely in response t oexternal conditions and your own particular needs. The key to this flexible response is the standard-fit Agility Control Package which includes selective damping. The interior offers noticeably more space and a more distinctive atmosphere tosuit your taste. As you will see, the C-Class is the perfect embodiment of the Mercedes-Benz philosophy.Tyreflex Star MotorsWulff Road, P. O. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 Fax 242.323.4667OUR PARTS DEPARTMENT IS FULLY STOCKED WITH EVERY COMPONENT NECESSARY TO ENSURE THAT YOUR MERCEDES RUNS TROUBLE FREE. TRAINED TECHNICIANS ON DUTY. ttr t $&#&$&,(&'brr'!#' *&)" '$!!$+' '%&+ b %&+ ( BETTYK AGENCIES L TD PARKING BAYSTREETV I C T O R I A A V E N U EWATERFRONT Lessons from strong man politics

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By CONSTABLE 3011 MAKELLE PINDER JOGGINGis a great form of exercise that one c an do at their leisure, howe ver while enjoying this p articular activity, one has to take some form of precaution for their safety. A frequent error that jogg ers or runners make is that t hey become so preoccup ied in their physical activi ty; they fail to be alert and p ay attention to their surr oundings. There are precautions o ne has to take ranging f rom all topics, which are l isted below. AREA Alwaysmake sure to run in an area that you are familiar with and that is safe and do not jog or run near bushes, which can provide c oncealment. T his way you will not get lost at you know the particular area and also if it is safe the crime rate will be low. Always jog or run with a known companion. M P3s A lot of joggers carry a m usic player along with them; make sure this is hidden as possible, by putting the wires underneath clothing instead of out of it. Also do not continually get it out to change the song as this can attract thieves. F urthermore, also when j ogging keeping wires tucked inside of clothing makes the risk of tripping over wires very slim. The headphone may come out of your ears and fall to the floor thus you t rip over it, but when t ucked in it will not do this. In addition, always make s ure that you can hear b ackground noise and neve r turn up your player so that you cannot. D OGS Some runners are afraid of dogs, and may see a few dogs on their journey. If you are extremely afraid and dislike dogs, try to avoid these situations. If y ou see a dog by far take a d ifferent route or stay far a way as possible. However, inevitably s ometimes you will e ncounter dogs on your jogging expedition, so make sure to keep calm and not be tempted to run away as they may chase you or if a dog does attack, try to "Feed" it your workoutj acket or other item of clothing. Remember to also carry s ome canine repellent just i n case you are approached by a attacking dog. CLOTHING A lways make sure to wear appropriate clothing for the environment. I f it is a cold environment wear clothing that will keep you warm such as a track suit. I f it is a hot environment k eep cool with light cloth ing that will keep you cool. In addition, choose appro-p riate footwear and make sure to tie the laces prop erly as you can trip over them. WATER If you get thirsty easily or for safety, it is best to carry a water bottle with you, this will keep you hydrated. Some people may get v ery thirsty and tired during t heir run so drinking water w ill cool you down. MISCELLANEOUS I f you have asthma make sure to always carry your pump with you, even if you feel you may not need it. Also if you are carrying keys or a phone with you keep it in a safe place where i t is not likely to fall out. W hen jogging, make sure to make the experience asp leasant as possible by taki ng these precautions. Always Remember the B Three As: Be Alert, Be Aware, and Be Attentivet o your surroundings at all times. Should you be a victim of crime while jogging, please do not resist but take note of the description of the culprit e.g. his appearance,c lothing, height, physical d etails and the direction or mode of escape. Call the Police as soon as it is safe to do so. If you come across any suspicious person(s ing around your business orh ave any information per taining to any crime, please do not hesitate to contact call the police emergency at or Crime Stoppers at 328-tips (New Providence), 1-300-8476 (Family Islands) L OCAL NEWS PAGE 10, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM #66'06+1072$//&,9,/(59$176 7KDWVULJKWD/RDQDSSURYHGZLWKLQKRXUV 38%/,&:25.(56&2(5$7,9( &5(',7,21/,0,7(' 6$925
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L OCAL NEWS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE COLLEGE OF THE BAHAMASVisit our website at www.cob.edu.bs MORE than 150 pilots packed a room at Showalter Flying Service, in Orlan-d o to hear an instructional d iscourse by the Federal Aviation Administration (FAA navigation across the waters from the Florida coast to The Bahamas. T he seminar Lets fly to t he Islands of the Bahamas with Mark Griffin, FAA examiner for the North Florida FSDO, and an experienced Bahamian traveller, was one of the highlights of a successful Bahamas Day 2011 event. O rganized and hosted by Showalter, a Bahamas Preferred Gateway FBO, the Saturdays event drew several hundreds that included pilots and others in the avia tion industry, as well as m embers of the public interested in learning more about The Bahamas and itsc ulture. The event marked the second annual Bahamas Day the first was hosted b y Banyan Air in 2010 to p romote The Bahamas and the ease of flying there. In addition to the FAA s eminar, other seminars included "Preflighting Your Passengers for Over-w ater Flight" and Pull the C ord a live life raft demonstration with Amy Laboda. A spectacular J unkanoo performance, Bahamian food, including conch fritters cooked too rder and a fully-regaled Bahamas police officer all contributed to the event and delivered an authentic taste a nd feel of The Bahamas to the hundreds that attended. The aim of the Bahamas Day event is to educate general aviation pilots on thee ase of flying to The B ahamas as well as to promote The Bahamas to the general public. The booths at the event showcased information on accommodations, dining,a ctivities and shopping in T he Bahamas, as well as provided general aviation pilot information and equipment. Among the sponsors of this years event was AOPA, respresented on site by its vice president, pilot infor-m ation, Woody Cahill. Other sponsors included Odyssey Aviation, Pilot Publishing Pilot's Guide Pilotmall.com, Our Lucaya Resorts, Fernandez Bay V illage, Stella Maris Resort, T reasure Cay Hotel Resort & Marina, Cape Eleuthera Hotel and Resort, BiminiB ig Game Club and Hope Town Hide-away. Bahamas day is a featured marketing initiative of The B ahamas Ministry of T ourism and Aviation. Under the leadership of Greg Rolle, chief aviations pecialist and his team, the ministry has over the past f ew years launched a strateg ic marketing campaign a imed at capturing its share o f the lucrative aviation market that boasts near 50,000 general aviation pilots in the Florida market alone. Pilots attend Lets fly to the Islands of the Bahamas seminar in Orlando AN AERIAL VIEW of some of the 30 planes that flew into Showalter Flying Service, Orlando Florida's FBO, for Bahamas Day 2011. A GROUP SHOT OF VENDORS sponsors and organisers of Showalter Flying Service, Orlando, Florida's successful Bahamas Day 2011.

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U .S. Embassy volunteers gathered on West beach on February 17 for their fourth weekly beach cleanup since the beginning of January.T he effort was spearheaded b y The U.S. Coast Guard ( USCG) in collaboration with the Ministry of Environment to help ensure that the Bahamas remains green, clean and pristine. U .S. Coast Guard D eputy Director, Tonya Kelley, has been the driving force behind the weekly cleanups because as she puts it she takes her role as a guest in The Bahamas very s eriously.Local beach trash increased just before Christm as when a vessel marooned off the coast of Blackbeard Cay caused c ountless items to wash up on shore. Elizabeth Parks experienced this first hand during the inaugural clean up ine arly January, which was o ne of the busiest. We moved clothes, box springs, and even two mattresses, Ms Parks said. We love The Bahamas and its beaches and we want tod o anything that we can to h elp keep them clean, she added. Cleaning the beaches of New Providence is part of the U.S. Coast Guards overreaching philosophy of e nvironmental protection and responsibility. L ouie Parks, the Director of Operation Bahamas Turks and Caicos ( OPBAT), believes that the partnership with the Ministry of Environment, which has assisted by hauling away collected trash, is pivotal. The Ministry of the E nvironments participation i n the OPBAT-USCG programme also serves to motivate and sustain the spirit of the volunteers involved, Parks added. T he U.S. Embassy volunt eers plan to continue the beach-clean-up programme on a weekly basis for the foreseeable future.They hope that their efforts will encourage other local organ izations to protect The Bahamas natural beauty by s tarting similar beach cleanup programmes around New Providence. L OCAL NEWS P AGE 12, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM US Coast Guard spearheads weekly beach clean-ups on New Providence SOME OF THE U.S. EMBASSY VOLUNTEERS who participated in the beach clean-up.From left, back row: R obert Lee Kruger; Beth Tucker, Tonya Kelley, Louie Parks. Front row: Meg Fisher and Trevor Glasgow. U.S. EMBASSY VOLUNTEER Marta Encarnacion participates in the cleanup effort.

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LOCAL NEWS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 13 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM g oal and that is what we h ope to achieve, said Mr Rolle. The government is only b eginning to put in the rough infrastructure for the initial 90-lot develop ment, but once the subdivision is redeveloped it is expected to have 132 lots, which will include public open spaces, a commercialc entre, recreational centres and business opportunities, said Mr Rolle. I t will cover the area of S ous Wach, Government Yard, Mackey Yard, Mar garet Yard, and the Rastafarian Camp. There is a process that must be followed when dealing with human beings.A lthough you may come to a plot of land that is owned by the government there is a system in place that the g overnment itself must foll ow. So, yes, the vast major ity of Bahamians would like to see immediatea ction taken, to see the government roll in and bulldoze the communities, and perhaps many of them may feel justified in doing that, but I think sound and good thinking Bahamians realise a process must take place before these things can happen, which is why we have taken the position we have, starting in Pride E states, said Mr Rolle. Our discussions with the various groups in the areah ave not been contentious. They have been reasonable a nd open. The people who were squatting recognise w hat we are trying to do. Quite the opposite: people are happy we are trying to t ackle this problem that is huge in the country, hes aid. A member of the United Haitian Association in The Bahamas (UHAB there is no way of pacify i ng people who want the yards to be broken down since yesterday; peoplew ith a philosophy that says, go in there with a bulldozer and tear down the yards, because they shouldnth ave been there in the first p lace. They might not be working fast enough fors ome, but they are doing it. It is difficult to be humane, to act systematically and tobe quick, so we hope peop le can be patient, said the UHAB member. After all, it took years for the villages to grow to the scale at which they are today. We are asking for patience from the other people. The government is actually doing something, and in two, three months you will be able to drive and see some of these vil lages coming down, he said. F irst preference to buy a house on the regulated land is going to Bahamians whoh ave been squatting, permanent residents and child ren born in the Bahamas who are over 18. F ather Vilfort Roland of the Queen of Peace Parish, a Catholic church on Fire T rail involved in Haitian ministry, said leaders in thec ommunity are working w ith the government to assist in regularising the area. He said the community supported the move toi mprove the living conditions and develop a proper subdivision. G overnment officials confirmed the large presence of Bahamians factored into the government's deci-s ion to start its shanty town t ransformation programme with Government Yard. It is the first area we are r egularising on a large scale. That was taken into account that a large number of Bahamians are ont he land. We want to make sure first that persons, Bahamians in particular and others, who have lived on the land and have invested in the land, be given an opportunity to owna piece of the property if they qualify. That is the operative word, they must qualify to be able to legitimise their position on the land, said Mr Rolle. By MIKE LIGHTBOURN IF you're in the market to buy a home, take a counter-intuitive tip a nd imagine the day you'll be selli ng it. T hat's right whether you're a first time purchaser, or moving to another island, this home purchase probably won't be your last, so look for features that will pay off when the day comes to move on again. One of the biggest amenities the next buyer will look for is central air conditioning. To give you an idea, in the deep south in the US, over 90 per cent of purchasers rank central air as critically important, and three-quart ers of purchasers everywhere e lse in the US put it high on the l ist. Another often-overlooked feature is storage. Over half of purchasers desire a two-car garage and a walk-in closet for the master bedroom. Ample closets and storage space just can't be stressed enough. If at all possible, avoid costly upgrades and offer incentive down the road by purchasing an energy efficient home with newer windows, pervasive insulation, and energy saving appliances. I n the Bahamas, energy effic ient means windows that can o pen during the cooler season, but seal properly during the summer when air-conditioning is used. Also, you will be greatly rewarded with hurricane-proof windows. Imagine not having to batten down when a hurricane approaches. If the home is already wired for cable, satellite, and high-speed Internet, so much the better. It used to be all about location, location, location. This is still extremely important because of t raffic congestion, which can only g et worse. So one of our biggest c onsiderations is proximity to the things we need in life schools, food stores, work and so on. Another consideration is how relatively safe an area is. These are all matters which are to be considered. However, in my opinion, the most important factor is price, price, price. REALESTATE:How to buy like a seller $90 per barrel, but as Bahamian retailers will feel the effects of oil price rises around two months later, they want the government to take action now. Bernard Dorsett, owner of Porky's Texaco Service Centre in East Street, Nassau, has increased his overdraft to 18 per cent of his earnings in order to pay for the petroleum which has risen by around 75 cents per gallon over the last six months, and four cents per gallon in the last three weeks. He said he paid nearly $39,000 for gasoline yesterday, and will only get $26,000 in return, while 4,000 gallons of diesel will set him back over $4,000 and return only $190. We are teetering on the edge and we need some relief, Mr Dorsett said. There is no way we can continue like this. As long as it continues to go up I'm investing more money to make less mon ey." Mr Dorsett has been agitating for 24 years for government to allow retailers to base the income they draw per gallon of gasoline on a percentage of the cost, however the government has given no indication whether it will allow petroleum retailers any relief as prices increase. Prime Minister Hubert Ingraham con firmed in his mid-term budget address on Wednesday that the average retail price of gasoline and diesel rose by 23.8 per cent and 14.1 per cent respectively, to $3.68 and $4.33 per gallon, during an 11-month period monitored by the Department of Statistics. And the Bahamas Electricity Corporation (BEC by 36.8 per cent to $0.1379 per kilowatt hour, compared to a 47.9 per cent reduction in 2009. Mr Ingraham warned Bahamian house holds and businesses to implement appropriate conservation measures to minimise the impact from anticipated energy and commodity price rises and Minister of State for the Environment Phenton Neymour reiter ated the need to conserve energy yester day. The minister in charge of utilities said BEC is undertaking significant efforts to improve energy efficiency through an exten sive maintenance programme. This includes work at the Clifton Pier power plant where he said BEC will max imise the use of heavy fuel oil Bunker C over the more expensive diesel fuel. The proposed use of Bunker C at a new power plant in Wilson City, Abaco, sparked protests in the community as hundreds of locals voiced concern over its negative impact on the environment. FROM page one isible changes to Carmichael Road shanty towns in next year FROM page one Oil price sparks fuel cost fears

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I NTERNATIONAL NEWS P AGE 14, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM CHRISTCHURCH, New Zealand Associated Press PARISHIONERScame together Sunday in parks ando n the lawns of churches broken in New Zealand's earthquake to pray for the dead and missing. They sought togetherness and an answer to the question on everyone's mind: Why? The randomness of the events throws up the 'why' question more starkly," the Rev. Mark Chamberlain told about 100 people who cameto hear his sermon outside St. Barnabas Anglican Church, where jagged cracksl ine the walls, stained glass w indows are shattered and the tower is sinking. Why did one person surv ive and one person die? Why did the people in the c athedral of all places perish?" Up to 22 people may be buried in rubble at C hristchurch Cathedral, most o f them believed to be tourists climbing the bell towe r for its panoramic views of t he southern New Zealand city of Christchurch when it was struck by last Tuesday's 6.3-magnitude quake. T he official death toll rose S unday to 147 as search teams uncovered more bodi es in the debris and that number was expected to rise, p olice Superintendent Dave C liff said. Prime Minister J ohn Key has said the quake, w hich decimated the city's downtown, may be the country's "single-most tragic" disaster. The churches that dot the c ity felt some of the worst of the temblor's wrath. Spires t oppled, stained glass wind ows exploded, walls cracked and masonry fell. Outside St. Barnabas, the faithful and those whosef aith has been tested by the disaster sat in chairs on the lawn with heads bowed, many wiping away tears, as leaders of the 86-year-old church tried to comfort them. "This is not called C hristchurch for nothing," the Rev. Philip Robinson said, drawing smiles from a few. "We will rise again." Many parishioners said they relished the normalcy of attending Sunday Mass amidt he heartbreak of the past w eek, even if it wasn't quite normal: where typically there are smiles, there were tears,a nd the sermon was occasionally punctuated by the wails of passing police cars and the roar of a military chopper overhead. It helps get back to normal, even if it's outside in the sunshine," said Mary Mills, 67. "But aren't we lucky to be free? To be here?" Tears N earby, Joe Oslawskyj, 41, s at next to his wife and four children, tears in his eyes. The family only moved toN ew Zealand from Manchester, England, three weeks ago, and have beens truggling to cope since the q uake. "It just means something to be with all the people," his 4 0-year-old wife Joanne Fagan-Oslawskyj said, weeping. We're all the same, and w e're all together." Staff members handed out tambourines and rattles toc hildren, and the church band played a series of upbeat songs. FaganO slawskyj wiped the tears from her eyes and smiled, picking up her 3-year-old daughter Sarah and bounc-i ng her in time to the music, as the little girl shook her rattle and grinned. Outdoor services also were held at other churches and ata library, where attendees arrived on bicycle or on foota nd sat in folding chairs. The Eucharist was performed at St. Albans Park with pita bread and a bottle of Australian port because wafers and communion wine were lost in the quake. M embers of New Z ealand's indigenous Maori community held a traditional ceremony at the ruinedc athedral to bless spirits of the dead believed buried under the rubble there. Other residents spent their Sunday morning in more sec-u lar surroundings, such as the botanical gardens, where oak trees insulate the pathways from the noise of the city's rescue and recovery operations. T he Robb family, brothers N eville and Graeme and their wives Gael and Michelle, met in the gardens,a s they do every Sunday, to walk their dogs. "You feel guilty doing s omething so normal when t here is so much suffering," Michelle Robb said. "But the dogs need walking." S ome 56 percent of New Zealanders have a Christian religious affiliation and near-l y 35 percent profess no relig ion, while religions such as Islam, Hinduism and Buddhism are growing as immigrants arrive. In other parts of the city, residents did what they couldt o help others: one family walked the dusty streets, handing out cupcakes to a construction crew repairing t he fractured roads. A group o f young men drove through t he city, hopping out of their car at stop lights to hand foilw rapped plates of food to nearby drivers. After the service at St. Barnabas, people gathered b y a table to have coffee, scones and banana bread, a nd to comfort those in pain. M egan Blakie, 45, stood in the crowd, eyes brimming w ith tears. "I just am struggling with where's God in all of this?" she said. "It's not shattered m y faith, but it's hard to keep going." B ut she came to church a nyway, she said, because she needed reassurance that i f her faith was faltering, others would carry the burden. "Even if I can't pray at the m oment," she said, "Others can." Christchurch holds prayers for victims of earthquake R ECOVERY WORKERS i nspect the earthquake-damaged Pyne Gould Corporation building in Christchurch, N ew Zealand, Saturday, Feb. 26, 2011. Tuesday's magnitude 6.3 temblor collapsed buildings, caused extensive other damage killing more than 100 people and with 200 more missing. (AP

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ZAWIYA, Libya Associated Press HUNDREDSof armed a nti-government forces b acked by military defectors who control the city closest to the capital Tripoli prepared Sunday to repel an expected offensive by forces loyal to Moammar Gadhafi surrounding Zawiya. Two prominent U.S. Senat ors said Washington should recognize and arm a provisional government in rebel-h eld areas of eastern Libya and impose a no-fly zone over the area enforced by U.S. warplanes to stop attacks by the regime. U.S. Secretary of State Hillary Rodham Clinton echoed President BarackO bama's demand for Gadhafi to relinquish power. "We want him to leave," s he told reporters traveling with her Sunday to a U.N. meeting on Libya planned for M onday. "We want him to e nd his regime and call off the mercenaries and forces loyal to him. How he manages thati s up to him." Gadhafi's son, Seif al-Islam, claimed again that the country w as calm and denied the r egime used force or airstrikes against its own people. But h uman rights groups and E uropean officials have put the death toll since unrest began in Libya nearly twow eeks ago at hundreds, or p erhaps thousands, though it has been virtually impossible to verify the numbers. T here were no reports of violence or clashes on Sunday. G adhafi has launched by far the bloodiest crackdown in a wave of anti-regime uprisings sweeping the Arab world. T he United States, Britain and the U.N. Security Council all imposed sanctions on L ibya over the weekend. And P resident Barack Obama said it is time for Gadhafi to go. The regime, eager to show foreign reporters that the country is calm and under their control, took visiting journalists to Zawiya, 30 miles( 50 kilometers) west of Tripoli on Sunday. However, the tour confirmed the antigovernment rebels are in con-t rol of the center of the city of 200,000. They have armyt anks and anti-aircraft guns mounted on pickup trucks d eployed. On the outskirts of the city, they are surrounded by pro-G adhafi forces, also backed by tanks and anti-aircraftg uns. Troops There were at least six c heckpoints controlled by troops loyal to Gadhafi on the r oad from Tripoli to Zawiya. E ach checkpoint was reinf orced by at least one tank, a nd the troops concealed their faces with scarves. To us, Gadhafi is the Dracula of Libya," said Wael al-Oraibi, an army officer atZ awiya who joined the rebels. He said his decision to defect w as prompted in large part b y the Libyan leader's use of mercenaries from sub-Saharan Africa against the people of Zawiya. A key city close to an oil port and refineries, Zawiya is the nearest population centert o Tripoli to fall into the opposition hands. Police sta tions and government offices i nside the city have been torched and anti-Gadhafi graffiti was everywhere. Many buildings are pockmarked byb ullets. The mood in the city was generally upbeat, but the a nticipation of a renewed a ttempt to retake the city was c ausing some anxiety among the rebels. Meanwhile, cities in eastern Libya under the control of rebels have appointed a former minister to lead a provisional government, officialsi n Benghazi, Libya's second largest city in the east, said Sunday. But a spokesman for the new government, Abdel-H afidh Ghoga, denied that former justice ministerM ustafa Abdel-Jalil was named its leader. U .S. Democratic Senator Joe Lieberman, speaking on CNN's "State of the Union"S unday, said Washington should arm the provisionalg overnment in rebel-held a reas of eastern Libya "to f ight on behalf of the people o f Libya against a really cruel dictator." He also proposed i mposing a no-fly zone over the east to stop forces loyalt o Gadhafi from attacking. S peaking on the same program, Republican Senator J ohn McCain suggested that U.S. warplanes are used to e nforce the no-fly zone and t hat Washington recognizes t he government in eastern L ibya. Gadhafi's son Seif al-Islam denied in a TV interview that his father's regime used force or airstrikes against its own p eople. "Show me a single attack. S how me a single bomb," he t old ABC's "This Week," according to a transcript. "The Libyan air forced estroyed just the ammuni tion sites. That's it." Seif al-Islam is the most vis ible of Gadhafi's children and h as since the anti-government protests broke out nearly two weeks ago been acting as a s pokesman for the regime. "The whole south is calm. The west is calm. The middle is calm. Even part of the east," he said. Asked about Obama's call for his father to step down, h e said: "It's not an Americ an business, that's No. 1. Second, do they think this is a solution? Of course not." As for the U.S. freeze of Libyan assets, he said: "First o f all, we don't have money o utside. We are a very modest f amily and everybody knows that." Sk eletons Gadhafi Out," chanted hundreds in Zawiya's city cen-t er on Sunday. The charred s keletons of many cars litt ered the city and most streets were blocked by palm tree trunks or metal barricades. "Free, Free Libya," chantedm embers of the anti-govern ment forces at the city cent er. Down with Gadhafi, the mass murderer," read graffiti scrawled in the city. An effigy of Gadhafi hung from a light pole in the city's main square. O n its chest the words "Exec ute Gadhafi" were emblazoned. The square has now become the burial place of six of 11 rebels killed by proG adhafi forces Thursday w hen they attacked the area t o try and dislodge them. Residents reported several skirmishes between the two sidess ince Thursday. "We are all wanted," said o ne rebel at the square who d id not want to give his name f or fear of reprisals. "Zawiya in our hands is a direct threat to Tripoli." R ebels from the town and army forces who defected from the regime to join them largely consolidated control o f the town on Feb. 24, after an army unit that remained loyal to Gadhafi opened fire on a mosque where residents some armed with hunting rifles for protection had been holding a sit-in. A bout 20 miles (30 Kilom eters) west of Zawiya, some 3,000 pro-Gadhafi demonstrators gathered on the coastal highway, chanting slogans in support of the Libyan l eader. B efore Zawiya fell to rebel f orces, Gadhafi scolded the city residents on Thursday. "Shame on you, people of Z awiya. Control your children," he s aid. "They are loyal to bin L aden," he said of those i nvolved in the uprising. "What do you have to do with bin Laden, people of Zawiya? T hey are exploiting young people ... I insist it is bin Laden." On Feb. 24, local forces r epelled an attempt by militiamen and pro-Gadhafi troops to take back the town. INTERNATIONAL NEWS T HE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Libyan rebels gear for fight in city near capital RESIDENTS BECKON foreign journalists to come closer past barricades to see the situation in the main square in Zawiya, 30 miles (50 kilometers ernment forces backed by military defectors in Zawiya, the city closest to the capital Tripoli, prepared Sunday to repel an expected offensive by forces loyal to Moammar Gadhafi who are surrounding the city. (AP

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B y NEIL HARTNELL T ribune Business Editor T HE hostile bidder for BISX-listed AML Foods h as expressed concern that the Securities Commissiona cted outside its statutory p owers by attempting to impose takeover guidelines on the offer as if they were laws, adding that the share s uspension implemented l ast week only hurt smaller investors. M ark Finlayson, speaking a fter he decided to with draw his $12 million, $1.50 per share offer to acquireA ML Foods at the behest o f the Associated Bahami an Distillers and Brewers (ABDAB tioned whether the capital markets regulator had acted ultra vires in seeking to i mpose guidelines that, at the moment, have no basis in Bahamian law. I think, as any first-year l aw student will tell you after doing contract and administration law, that e very government depart ment has to be very careful not to act ultra vires, MrF inlayson told Tribune B usiness. I really think the Commission acted outside its powers in suspending these shares. They justified it by Section 54, but on what basis did they exercise Section 54? Thats the question. These are [Takeover] guidelines that have not been considered by the Cabinet, the House of Assembly, the Senate, and they were acting as if these were laws. The guidelines they put forward, they were acting as if these were laws, and thats where my disagree ment with the Commission comes in. I believe they w ere acting Ultra Vires t heir powers. They should not have got the two things confused. I n the absence of a Takeover Code contained either in statute or regula-t ions, the Securities Commission had been attempting to get Mr Finlayson and AML Foods to agree on a process for his hostile o ffer, based on draft stan dards and best practices t hey will shortly issue for consultation. However, no agreement was reached, and the Secu r ities Commission last week suspended trading in AML Foods shares indefinitely, fearing that an orderly mar k et in them had been dis rupted by everything s wirling around the takeover. In particular, the regulator was said to be especially exercised byc omments such as Mr Fin layson saying he had 20 per cent of AML Foods shares locked up. But what did that achieve, Mr Finlayson questioned of the share susSECTIONB business@tribunemedia.net MONDAY, FEBRUARY 28, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69T he information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.75 $4.72 $4.69 By NEIL HARTNELL Tribune Business Editor A BAHAMIANshipping company has had oneo f its key vessels seized by US marshalls via court order and impounded in Palm Beach, after it wasa lleged not to have paid t he Palm Beach Shipping A gency $126,347.19 for shipping-related services. N assau-based Deans S hipping Company has seen its MV Legend vess el seized, and placed in t he care of US-based N ational Maritime Serv ices, due to the dispute over alleged non-payment of stevedoring, wharfage and other fees between October 18, 2010, to thep resent. Deans Shipping has s erved notice of its intent to defend the matter and rescue its vessel, although court documents obtained by Tribune Business showi t has yet to do so. In its lawsuit, the Palm Beach Steamship Agencya lleged: Since October 18, 2010, plaintiff provided necessaries to the [MV L egend], to-wit: labour, wharfage, advances and other services pursuant to an agreement between p laintiff and vessels owners, charterers, and/or authorised agents on a f ixed rate basis. The defendant vessel has failed to pay for these s ervices at plaintiffs office i n the amount of $126,347.19 despite repeat ed demand for payment s ubmitted to the defendant vessel, Legend II, and/orher owner, charterer or o perator, defendant Deans. The Palm Beach Steamship Agency is seek By NEIL HARTNELL T ribune Business Editor BUSINESSMANMark Finlayson is withdrawing his $12 million hostile takeover bid to acquire a 51 per cent majoritys take in AML Foods, after the Associated Bahamian Distillers and Brewers (ABDAB decided the companys shareholders would gain betterr eturns from City Markets o rganic expansion instead. Speaking with Tribune Busin ess following last weeks ABDAB Board meeting, Mr Finlayson said that while the directors approved the acquisition of the 78 per cent Bahamas Supermarkets stake owned by his familys 100 per cent-controlled investment vehicle, Trans-Island Traders, they feltt here was not enough value for ABDAB shareholders in his $1.50 per share offer to AML Foods investors. Mr Finlayson said that as a result, he and his father, Sir Garet Tiger Finlayson, asT rans-Islands owners decided to withdraw their bid to acquire a 51 per cent majority stake in BISX-listed AML Foods, thus bringing to an end the first hostile takeover attempt in the Bahamian capital markets his-t ory. By NEIL HARTNELL T ribune Business Editor CITY MARKETS p lans to move right away on the $12m illion transformation of three Associated Bahamian Distillers and Brewers ( ABDAB) owned properties into City Markets SuperC entres, the companies princ ipal telling Tribune Business that the two sites in Nassau could open in six-seven m onths time. Mark Finlayson, speaking after ABDABs Boarda pproved the acquisition of B y NEIL HARTNELL Tribune Business Editor A LEADINGBahamian-owned airline is looking to start service to Fort Lauderdale from Nassau and Freeport on April 1, andi s in the process of hiring more than 20 extra staff and acquiring another $1.4 million plane. Hostile $12m AML offer is withdrawn ABDAB Board turns down deal due to not enough value being contained in $1.50 per share premium Mark Finlayson instead instructed to pursue organic City Markets growth through three SuperCentre sites Board does approve share swap deal for 78% City Markets deal, pending valuation Instructions also given to explore M&A possibilities with Robin Hood, Phils Food Services SEE page 5B BUSINESSMAN M ark Finlayson Concerns Commission acted outside powers SEE page 8B B y NEIL HARTNELL T ribune Business Editor P rice decreases of at least 30 per cent on average compared to 2007-2008 levels have helped to stimulate activity in the Bahamian real estate market, a leading r ealtor believes, with selle rs no longer living in la la land and realising that current market lev e ls may be here to stay. George Damianos, president of Lyford Cay Sothebys InternationalR ealty, told Tribune B usiness that increasing realism among Bahamasbased property sellersw as helping to revive transaction volume, as they had adjusted prices and expectations to then ew economic climate, coming down to levels that would interest val ue-seeking buyers. The reason this market has picked up is that prices have come down BAHAMAS FIRMS VESSEL SEIZED ON $126K DEBT CLAIM SEE page 5B CITY MARKETS SUPERCENTRES IN SIX-SEVEN MONTHS TIME Supermarket chain to move right away on three 55,000 s q ft sites, although Freeport may take 12-13 months Staff complements per store may number 35, rather than average 50 S EE page 4B BAHAMAS AIRLINE TARGETS APRIL 1 F OR US SER VICE Adding 20 staff, and acquiring another $1.4 million plane SEE page 4B Sky Bahamas chief executive Captain Randy Butler 30% PRICES FALLS BOOST REAL ESTATE SEE page 7B

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By ROYALFIDELITY CAPITAL MARKETS IT WASa slow week of trading in the Bahamian stockm arket. Investors traded in six o ut of the 24 listed securities, with no advancers and five decliners. EQUITY MARKET A total of 18,650 shares changed hands, representinga sharp decrease of 56,060 shares compared to last week's trading volume of 74,710 shares. Finance Corporation of the B ahamas (FIN ume leader, trading a volume o f 8,250 shares to see its stock fall $0.26 to close at $6.25, a new 52-week low. FOCOL Holdings (FCL was the big decliner, trading a volume of 1,000 shares to see its stock fall $0.52 to close at $5.48. B ank of the Bahamas ( BOB) traded a volume of 1,000 shares, its share price falling $0.02 to close at $4.40, a new 52-week low. Commonwealth Bank ( CBL) traded a volume of 1 ,000 shares to see its stock decrease by $0.05, closing at $6.80. FamGuard Corporation (FAM 1,000 shares, its stock falling$ 0.22 to close at $5.25, a new 52-week low. BOND MARKET No notes traded during last week. C OMPANY NEWS Earnings Releases: Finance Corporation of the Bahamas (FIN audited financial results for they ear ended October 31, 2010. F IN reported net comprehensive income of $18.2 million for the year compared to $4.6 million in the prior year, representing an increase of $13.7m illion or 298 per cent. N et interest income of $28.2 million had a marginal decline of $73,000, compared to $28.3 million in the previous year, while total non-interest expense increased from $12.2m illion in 2009 to $12.3 million during 2010. Allowance for credit losses stood at $1.3 million, a sharp decline from the $15.1 million reported in 2009. FIN management said the decline camea bout after review of its provisioning policy, whereby the provisioning ratio was reduced to 30 per cent of non-accruall oans instead of 40 per cent. Earnings per share as at December 31, 2010, were $0.68, up $0.51 when compared to $0.17 in the comparativep eriod. Total assets at year-end October 31, 2010, stood at $967m illion compared to $908 million at October 31, 2009, while total liabilities were $867 mill ion compared to $826 million a t the previous fiscal year-end. Dividend Notes: C ommonwealth Bank (CBL of $0.06 per share, payable onF ebruary 28, 2011, to all ordin ary shareholders of record d ate February 15, 2011. F amguard Corporation (FAM of $0.06 per share, payable onM arch 2, 2011, to all ordinary shareholders of record date February 23, 2011. AGM Notice: Finance Corporation of the Bahamas (FIN i ts AGM will be held at the British Colonial Hilton Hotel on March 17, 2011, at 6:30pm. B USINESS P AGE 2B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ROYALFIDELITY MARKET WRAP EQUITY MARKET TRADING STATISTICS Week ending 25.02.11 BISX SYMBOL...CLOSING PRICE.....WKLY PRICE CHANGE........VOLUME........YTD PRICE CHANGE AML.....................$1.04..............................$-...............................0.........................7.22% B BL......................$0.18.............................$-..............................0...........................00% BOB......................$4.40..........................$-0.02.......................1,500....................-10.20% BPF......................$10.63............................$-..............................0.........................0.00% B SL.......................$5.01..............................$-...............................0.........................0.00% BWL.....................$2.70..............................$-...............................0.........................0.00% CAB.....................$10.21............................$-............................750......................-2.39% CBL......................$6.80..........................$-0.05.......................6,150.....................-2.86% CHL......................$2.40..............................$-...............................0.........................0.00% C IB.......................$9.39..............................$-...............................0.........................0.00% CWCB..................$2.17..........................$-0.03...........................0........................18.58% DHS......................$1.40..............................$-...............................0........................-12.50% FAM.....................$5.25.........................$-0.22.......................1,000....................-13.51% FBB......................$2.17.............................$-..............................0.........................0.00% FCL......................$5.48..........................$-0.52........................1,000.....................0.37% FCLB...................$1.00.............................$-..............................0.........................0.00% FIN........................$6.25..........................$-0.26.......................8,250....................-13.55% ICD......................$7.40.............................$-...............................0.........................0.00% JSJ........................$9.82.............................$-..............................0.........................0.00% PRE.....................$10.00............................$-..............................0.........................0.00% BOND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13FBB Series C Notes Due 20130$1,000 FBB15FBB Series D Notes Due 20150$1,000 FBB17FBB Series A Notes Due 20170$1,000F BB22FBB Series B Notes Due 20220$1,000 INTERNATIONAL MARKETS FOREX Rates CurrencyWeekly% Change C AD1.02320.84 GBP1.6119-0.76 E UR1.37500.45 INTERNATIONAL STOCK MARKET INDEXES IndexWeekly% Change D JIA 12,130.45-2.10 S&P 500 1,319.88-1.72 NASDAQ 2 ,781.05 -1.87 Nikkei 10,526.76 -2.91

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BUSINESS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By NEIL HARTNELL Tribune Business Editor A ML Foods chairman yesterday e xpressed delight that the $12 million hostile takeover bid to acquirea 51 per cent stake in the BISX-listed food group had been withdrawn, telling Tribune Business that the company was eyeing expansion pos-s ibilities through another food store i n southern New Providence. Speaking after this newspaper informed him that Mark Finlayson and his familys Trans-Island Traders vehicle were withdrawing t heir $1.50 per share offer, Dionisio DAguilar said: I would be lying if I did not state that was a major distraction. We have to go back to our core b usiness and what we have been d oing very well. Its s difficult mark et out there. Theres always new companies in the market and situations that create anomalies in your business. Mr DAguilar highlighted the d etrimental impact that roadworks o n Robinson Road, between Blue Hill Road and the Marathon Mall area, were having on customer a ccess to the groups Solomons SuperCentre store. He added: In the short-term its had an effect on Solomons, making it very difficult to get toS olomons right now. There are i ssues that are affecting our busin ess, and now we can focus on addressing those. AML Foods is awaiting the opening later this year of its $4.5 million Solomons Fresh Market store inw estern New Providence, and Mr D Aguilar added: Were actively looking for another location, probably in southern New Providence, t o expand there. Thatll be a food store to grow the business. Were certainly not going to role over and play dead. There are a lot of people enteri ng the market. Where Mr Finlayson w as right and very astute was that t his market is becoming very crowded, and you have to think very hard about where and when you build a new location. The population is very static, and s pending on food is not increasing m uch. Youre just taking that pie and splitting it more each year. AML Foods eyes new food store in southern NP C ITY MARKETS c hief executive has w arned AML Foods c hairman, Dionisio D Aguilar, to prepare for neofights, following his characterisation of therival supermarket chains management team as neophytes over their alleged lack of food retail management experience. D escribing how she read Mr DAguilars comments with some degree o f amusements, City M arkets chief, Benita R ahming, said they were a blatant disregard for the combined profession-a l experience of this female management team and the ability of women in these respective roles. S he added: The new owners and management of Bahamas Supermarkets, the parent companyo f City Market, is very committed to creating a n ew shopping experience f or our loyal customers w hose opinions we hold i n high regard. This a pproach is evidenced by t he fact that we just don't sit in Boardrooms or in our executive offices and make decisions, but we can be found, on a daily basis, strolling through the City Market aisles s peaking with our associates and guests. The AML chairman's r esistance to connecting t he dots between 'retail a nd luxury' may be something he comes to regret, as our focus at City Mar-k et is to afford our thousands of customers nothing but the best. Mr D'Aguilar must a ppreciate the fact that numbers don't lie, and if he compares the sales figures of BSL/City Marketa nd AML during the period November 2010 t hrough January 31, he w ould find that sales at A ML declined, while s ales at City Market grew a nd continue to grow; n ot bad for a neophyte team. Ms Rahming said: I caution Mr D'Aguilar to remember that women are the chief financial officers in most househ olds and they are the g ender that does most of t he shopping...... We are proud of our e xecutive team in part icular, because they are w omen, they are mothers and they are the primary shoppers. The combined professional experience of our team is extremely sound and one that is already yielding successes f or our company. AML chief warned: Ready for neofights Shar e your news T he Tribune wants to hear f rom people who are making news in their neighbourhoods. Perhaps you are raising funds for a g ood cause, campaigning f or improvements in the a rea or have won an award. If so, call us on 322-1986a nd shar e your stor y DIONISIO DAGUILAR

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Following closely behind l ast weeks start of service f rom Nassau to San Salvador, to which it plans to fly three times a week, Sky Bahamas is looking to commence service from Nassau t o Fort Lauderdale, via M arsh Harbor, and Freeport t o Fort Lauderdale, on April 1, 2011, Moving to exploit the rebound in business travel resulting from a rebounding economy, Captain Randy Butler, Sky Bahamas chief e xecutive, said the airline h ad hired nine more persons l ast week, with another five cabin attendants due to start this week. Another nine staff, including seven guest service staff and two ground staff, are also due to come on board, bringing the new r ecruit complement to a round 23 persons. Were looking for another plane for the Us route. Were hoping that airplane will be shipped by May, Captain Butler added, stating that it would be a $1.4m illion Saab-340. Based on whats going on, were really optimistic. The business has taken off, and some of it is related to new projects coming online, he added. Were seeingb usiness growing, and as these projects get going theres renewed demand for business travel. With contractors starting to increase their back and forth travel, Captain Butlers aid there was increased d emand for routes from Nassau to Freeport, Abaco and E xuma, with the latter being h eavily impacted by the Sand als Emerald Bay resort. We see Sky Bahamas really in terms of being the preferred airline for business and leisure travellers in the Bahamas, to the US and tot he Caribbean, like the Dominican Republic and Turks & Caicos, Captain Butler, adding that Sky Bahamas service to Cat Island would likely become even more important witht he likely withdrawal of Continental Airlines. We have partners in the hotel industry who keep us in the loop, tell us whats going on, he said. The business has just b een taking off. People have been enjoying the service weve been g iving them, and enjoying t he Bahamas. The only thing were lacking is this national strategic plan for aviation. Captain Butler again complained about the marketdistorting impact thatB ahamasairs March Madness promotion would have on the Bahamian private aviation market, telling Tribune Business that the national flag carrier, which last year cut prices to $79 one-way,h ad now dropped to $49 for its San Salvador route right as his airline was about to launch its new service. He added that Bahamasair had already reduced its San Salvador ticket price from$ 211 to $190, in response to S ky Bahamas $189 plans. 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PAGE 19

acquiring, since they will be paid for via a share swap, with Trans-Island Traders receiving ABDAB shares in return. This will likely further strengthent he Finlayson familys already 7 0 per cent majority holding in ABDAB. We have make sure. We have minority shareholders in ABDAB, and have to make sure theres no question as tow hat the value is, Mr Finl ayson told Tribune Business. That [evaluation] should be done in the next two weeks. Pledging that ABDAB would not hold up on acquiring Trans-Islands City Mark ets stake, Mr Finlayson estim ated that the deal would be completed in that same twoweek timeframe. The twist was and the B oard was very strong on this that they insisted if ABDAB was to become involved with Bahamas Supermarkets and T rans-Island Traders, that we should not, and would not, buy the shares in AML at a $1.50,M r Finlayson said. Their position is that the $1.50 per share was a big premium based on the results and the time. We [Trans-Island] felt it was a premium, but a premium that was w orth taking. ABDABs directors, he indicated, had become especially concerned at AML Foods last results, which showed that profits for the nine months toe nd-October 2010 were $ 904,000, compared to $2.887 million the year before. That former figure was 68 per cent down on the $2.811 million generated from continuing operations the year before.T hird quarter profits were d own 64.1 per cent at $239,000. Acknowledging that he, too, had been disappointed with AML Foods financial performance, Mr Finlayson said: When the results came down a fter January 31, I took the p osition that we were so far into it, the top line had not changed that much, and I didnt really feel it would hurt thet ransaction from the bottom line. Having made the $1.50 per share by then, I did not want to go back on that. B ut, pointing out that most ABDAB directors came from financial backgrounds, and thatt hey were charged with looking out for all shareholders, Mr Finlayson said of the directors: In their opinion, there was not enough value in the transaction at that [$1.50 per share] p rice. Mr father and I, as Trans-Island Traders, decided to withdraw the bid to buy AMLs shares. The Board was very clear to me, and insisted we pursuep lan A, assuming the transact ion between the two companies [ABDAB and TransIsland], which is the development of these three sites into City Markets SuperCentres. They feel that is the best valuef or money for ABDAB shareh olders. No matter the route for AML, they did not think we could come to a reasonable price, and asked me not to pursue that. H e added: I shouldnt have b een surprised that the route they took; that theres more value in this, and it may take a while longer, but its better forA BDAB shareholders to take the route of meeting AML head-to-head, as it will bring more value to ABDAB shareh olders than at that $1.50 price. The three City Markets S uperCentre sites in question, the East-West Highway and JFK Drive/Bethel Avenue in Nassau, plus the Queens Highway in Freeport, are all owned by ABDAB. The estim ated cost of their redevelopment is around $12 million, the same sum it would have costs to pursue AML Foods, and ABDAB shareholders would also receive rental income asw ell as being invested in City M arkets. And, while AML Foods may not happen, Mr Finlayson said the ABDAB Board had authorised him to re-open preliminary talks he had held withP hils Food Services and Robin H ood about potential consolidation with City Markets, and report back to them if the response was positive. Adding that he was not disappointed by the ABDAB B oards decision, Mr Finlayson s aid he would pursue with the same zest their decision. We offered a very good deal to them, he added ofA ML Foods investors. From our standpoint, I think they will continue to lose value, and AML will be caught between o urselves and from all sides. Phils did $41 million in sales last year. Thats impressive in 13 months. Ive never seen Sandys [Robin Hood] numbers, but hes said $26 million, and I dont think that wasu p to the close of the year. T heres no question, either, that Rupert Roberts has stolen market share from both Bahamas Supermarkets and AML in the past. Hes very sharp, hes the guy to beat, andm ade it clear hes in for the f ight in the long run. I think, unfortunately, that AML is going to get squeezed, shareholder value will go down more and more, and the window of opportunity for shareh olders to get out will not be t here with ABDAB and Trans-Island Traders. Its an opportunity lost. If we had walked away from theH eineken deal, thats the kind of deal AML investors have missed out on. Theres not much future for t he company. Thats my opinion. However, this is not the end of Mr Finlaysons efforts to b ring much-needed consolidation to the Bahamian foodr etail industry. Apart from directing him to proceed with plans to convert three ABDAB-owned real estate holdings into City MarketsS uperCentres, Mr Finlayson told Tribune Business that theB oard had directed him to reopen talks with Phils Food Services and Robin Hood, to see if there were mergers and acquisition possibilities there. D etailing last weeks developments, Mr Finlayson said: The ABDAB Board meeting went the way I thought it was going to go, and had a little t wist which I thought was not g oing to happen. I presented a proposal where ABDAB was to buy thes hares Trans-Island Traders owns in Bahamas Supermarkets, namely the 78 per cent. Inp rinciple, the Board agreed w ith that concept. That was the plan, and the second thing that happened, w hich was also the plan, was that we decided we were going to get an independent evalua t ion done by CFAL and RoyalFidelity to determine what the true value of Bahamas Supermarkets shares is. Trans-Island Traders acquired its 78 per cent majori ty stake from the ill-fated BSL H oldings group, who were desperate to exit and find some one to save City Markets from b ankruptcy, for just $1. Bahamas Supermarkets shares, though, are currently t rading on the over-thec ounter market at $5.01, making it difficult do determine t heir true value, especially give n this markets illiquid nature. Mr Finlayson, though, said it was critical to determine a truev alue for the Bahamas Supermarkets shares ABDAB is BUSINESS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM '/3URSHUWLHV/WG&RPSDQ\fLQYLWHVRIIHUVIRUWKHSXUFKDVH RI$//7+$7SLHFHSDUFHORUSORWRIODQGFDOOHGDQGNQRZQDV LOYHU7RSFRQWDLQLQJDFUHVRUWKHUHDERXWVVLWXDWHRQ/RQJ %D\&D\RU.DPDODPH&D\EHLQJDSULYDWHLVODQGLPPHGLDWHO\ HDVWRI%ODQNHW6RXQGRQWKH(DVWHUQFRDVWRI$QGURV,VODQGLQWKH &RPPRQZHDOWKRIWKH%DKDPDVWKHURSHUW\f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t6DVVRRQ +RXVH6KLUOH\6WUHHWDQG9LFWRULD$YHQXH1DVVDX%DKDPDVWREH UHFHLYHGQRODWHUWKDQWKHFORVHRIEXVLQHVVRQWKHWKGD\RI0DUFK 127,&(2)6$/( f f Hostile $12m AML offer is withdrawn a lien over the MV Legend II so it can foreclose upon it and sell the boat to recover the sums owed to it. Deans Shipping and the MV Legend were r ecently in the news over a Customs raid at Potters Cay Dock, which seized 700 cases of beer, 30 cases of backwoods cigars, 44 pallets of cement and two pallets of gallon-sized ice c ream buckets. The goods, which were being off-loaded in the early morning hours, had not been declared. T here was nothing to suggest Deans Shipping or its employees had done anything wrong. Mario Saunders, assistant general man-a ger of Dean's Shipping, said then that the company was conducting its own investigation to determine the facts of the situation. "Customs has made their decision to seize the vessel and goods until the investigation is c omplete. It will impact us very little, because w e have another vessel, MV Legacy," said Mr Saunders. He denied that goods were "off-loading", c laiming the "truck was on the boat. He could not verify the origin of the goods or the owners, because the company was in the middle of i ts own investigation. However, Mr Saunders claimed the vessel cleared Customs at Arawak Cay on Wednes-d ay night. T he MV Legend plies between West Palm Beach, Marsh Harbour, Green Turtle Cay, Spanish Wells and Nassau. FROM page one BAHAMAS FIRMS VESSEL SEIZED ON $126K DEBT CLAIM FROM page one

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S HANGHAI A ssociated Press C HINA'Spassenger car sales slowed in January as tax breaks for energy-efficient cars lapsed and cities began tightening curbs on vehicle use to help combat traffic congestion and smog,a ccording to a report Monday. The Shanghai-based China Passenger Car Association reported that sales of passenger cars fell 10.3 per-c ent in January from the m onth before to 965,238. O n an annual basis, sales rose 12.6 percent. C hinese bought 13.7 million passenger vehicles last year, up by a third from 2009. But that robust growth is forecast to coolt his year due to the expirat ion of tax incentives for some vehicle purchases and a renewed effort by cities to b ring traffic under control. "Of course the withdrawal of financial incentives would impact any country's auto market, and sales didc ontinue to grow in Janua ry, but toward the end of t he month there was a sharp cooling in sales," the Pass enger Car Association report said. It said sales in February were bound to decline duet o the usual slump followi ng the Lunar New Year h oliday, which was longer t han usual. Rao Da, head of the association, took aim at what he called a policy of "encoura ging car purchases, while restricting car use." T he explosive growth in C hinese car ownership has n urtured the rise of the domestic auto industry, but left major cities like Beijing and Shanghai jammed with traffic and choking on smog. C hina's capital has decreed it will limit new vehicle registrations to 2 40,000 this year just o ver a third of those regis tered in 2010 to try to ease massive traffic jams that have turned Beijing's streets into virtual parking lots. News that Shanghai w ould more strictly enforce existing restrictions on v ehicles with out-of-town l icense plates, often bought b y city residents to avoid paying exorbitant fees in monthly auctions, boosted the average price for a plate to 44,000 yuan ( $6,666) last month, local reports said. As of January, the gove rnment ended sales tax r ebates and subsidies for rural buyers, which initially fueled huge growth in sales of minivans in the countryside after they took effect in 2009. That is expected to dampen demand in coming months. B ut most auto manufac turers are banking on solid growth in the country's vast rural areas and inland cities,w here most families do not y et own cars and those that do are keen to trade up. Foreign manufacturers are still counting on double-d igit growth in China and other emerging markets to compensate for sluggish sales in their home markets. General Motors Co., which for the first time in its 102-year history sold m ore cars and trucks in China last year than it did in t he U.S., reported sales in C hina rose 22.3 percent f rom a year earlier in Janu ary to 268,071. Ford Motor Co.'s sales climbed 20 percent, to 53,340 vehicles. W hile domestic auto companies are growing quickly, they have yet to overtake f oreign car makers and their j oint venture partners: Six of the nine top car manufacturers by sales in January, according to the Passenger Car Association, were joint ventures, led by GM and its flagship joint venture with state-ownedS hanghai Automotive Industrial Corp., Shanghai GM. The top sellers among i ndependent domestic b rands was Chery Automo bile, which sold 49,640 vehicles in January. Just behind was BYD Auto, a batterym aker-turned-car manufac turer backed by billionaire U.S. investor Warren Buffet, which sold 49,432. B USINESS P AGE 6B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM -$0(6(57,/86RI 67-$0(652$'3%2;1$66$8 %$+$0$6 & 20021:($/ ,1+((0(&2857& 20021/$$1'(48,7<,17+(0$77(5 RIWKH3URSHUW\FRPSULVHGLQDQ ,QGHQWXUHRI0RUWJDJHGDWHGWKHV WGD\RI2FWREHU DQGPDGHEHWZHHQ.HYLQ%HWKHODQG 'HQLVH%HWKHODV%RUURZHUVDQG)LUVW&DULEEHDQ ,QWHUQDWLRQDO%DQN%DKDPDVf/LPLWHGIRUPHUO\&,%& %DKDPDV/LPLWHGf $1',17+(0$77(5 RI WKH &RQYH\DQFLQJDQG/DZ RI3URSHUW\&KDSWHURIWKH5HYLVHG6WDWXWH /DZVRIWKH&RPPRQZHDOWKRI7KH%DKDPDV %(7:((1 ),567&$5,%%($1,17(51$7,21$/%$1. %$+$0$6f/,0,7(' IRUPHUO\&,%&%DKDPDV/LPLWHGf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eport: China auto sales slow as cities curb use A VISITOR takes souvenir photo as models show the car care products at the China International Auto A ccessories Commercial Expo in Beijing Saturday, Feb. 26, 2011. (AP CHINA INTERNATIONAL AUTO ACCESSORIES COMMERCIAL EXPO

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and are more appealing, and buyers are seeking more value for their money. T hats whats making the t rade, Mr Damianos explained. M uch of the price adjustm ent, he added, had taken plane in 2009, which he d escribed as probably the w orst year for the Bahamia n real estate market in general. improved al ittle bit, and were optim istic that 2011 is going to be at least as good as 2010 or even better, Mr Damianos added. I think in 2010 we all got better at pricing properties a nd understanding the r ecession. While in 2009 many sellers were still living in la la land and maintaining prices at pre-recession levels, Mr Damianos said many had now realised that to sell real estate previously priced at $1 million, they needed to instead seek between $650,000-$700,000. Sellers are getting more sensible and realistic in their pricing, Mr Damia nos told Tribune Business. Sellers are coming to grips w ith the fact these numbers a re here to stay, and it is n ot just a passing phase. If we can get some volume going, everyone will be happy, and we will get someS tamp Tax money flowing i nto the Treasury, lawyers w ill earn some fees, realtors will earn some fees, and we will spend more money and get the economy back. Looking forward to the impact of the $2.6 billion Baha Mar project, Mr Damianos told this newspaper: I think it will put pressure on the rental market, which will be good, and it will enable the real estate market people to invest and b uy to rent out, and get a p ositive return on their p rices. It can help to shore up s ome of the pricing in the real estate market rentals and prices. In that first wave there are probably going to be construction and construction-related people, and I would imagine that the 8,000 Chinese workers are not going to have a great impact, but there will be increased focus and increased pressure on the rental market. M r Damianos said the C able Beach/western New P rovidence rental and prope rty market needed a proj ect such as Baha Mar badly, but added that the relatively low amount of available inventory meant it would not take too long to fill up. One hundred people will definitely create a lot of pressure on the rental market, Mr Damianos said. Thats been our saving grace during this recession, and weve not over b uilt like in Florida, where t heres a lot of empty buildings. Thats held us together economically as a country. We just hope the number of people needing places are able to pay Cable Beach market prices. Otherwise, they might move to other areas, and put pressure on rental prices being paid by Bahamians, Mr Damianos warned. BUSINESS T HE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.260.97AML Foods Limited1.041.040.000.1230.0408.53.85% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6 .184.40Bank of Bahamas4.404.400.000.1530.10028.82.27% 0 .580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3 .492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2 .152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.806.800.001500.4880.26013.93.82% 3.651.63Consolidated Water BDRs2.092.160.070.1110.04519.52.08% 2.551.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 6 .995.25Famguard5.255.250.000.3570.24014.74.57% 1 0.206.25Finco6.256.250.000.6820.0009.20.00% 1 1.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 6 .003.75Focol (S 5.485.480.000.4520.16012.12.92% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7 .405.00ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.82J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield F INDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 2 0 November 2029FRIDAY, 25 FEBURARY 2011BISX ALL SHARE INDEX: CLOSE 1,465.04 | CHG 0.07 | %CHG 0.00 | YTD -34.47 | YTD % -2.30B ISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017 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%BISX LISTED & TRADED SECURITIES AS OF:7% Interest 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas SupermarketsN/AN/A14.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.95272.8300CFAL MSI Preferred Fund2.95270.18%1.61%2.918697 1.58371.5141CFAL Money Market Fund1.58370.61%4.59%1.564030 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7049-0.56%-15.54% 13.638813.0484Royal Fidelity Prime Income Fund13.41640.44%-0.10% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.14651.0000FG Financial Preferred Income Fund1.14655.20%5.20% 1.11851.0000FG Financial Growth Fund1.11854.73%4.73% 1.14911.0000FG Financial Diversified Fund1.14915.35%5.35% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.79504.85%5.45% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6417-1.20%0.50% 10.12669.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 310.12661.27%1.27% 8.45104.8105Royal Fidelity Int'l Fund Equities Sub Fund8.45100.72%9.95% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10 31-Jan-11 107.570619 105.776543 30-Jun-10 31-Dec-10 NAV 6MTH 1.475244 2.910084 1.545071TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Nov-10 30-Sep-10 31-Jan-11 11-Feb-11 31-Jan-11MARKET TERMS31-Dec-10 31-Jan-11CFAL Securities Ltd. (Over-The-Counter Securities)31-Jan-11BISX Listed Mutual FundsNAV Date 30-Nov-10 31-Dec-10 62)(5,19(670(176/7' 1 RWLFHLVKHUHE\JLYHQWKDWLQDFFRUGDQFHZLWK6HFWLRQ RIWKH,QWHUQDWLRQDO%XVLQHVV&RPSDQLHV$FW RI 62)(5,19(670(176/7' KDV EHHQ G LVVROYHGDQGVWUXFNRIWKH5HJLVWHUDFFRUGLQJWR W KH&HUWLFDWHRI'LVVROXWLRQLVVXHGWKH5HJLVWUDU HQHUDORQWKHWKGD\RI'HFHPEHU/XLVDULDLQH\UXDLWWDOXJD =RQDPHULFD /RFDO$ & 0RQWHYLGHR*8$< /LTXLGDWRU 30 per cent prices falls boost real estate FROM page one

PAGE 22

p ension. I didnt see it achieving anything, to be honest with you. It hurt the smaller investor, and would not stop us talking to anyone behind the scenes. As long as we stayed behindt he scenes, we could talk to a nybody we wanted to. Once his hostile bid had formally launched via a Bid Circular, Mr Finlayson said the Securities Commission would have removed the A ML Foods share suspens ion, and added: It did not hurt us in any way. It hurt the small guy trying to use the shares as security for a loan, or who wanted to sell the shares to get liquidity n ow because he had no confidence this transaction was g oing to move forward. The Commission should have been very careful aboutt his. Mr Finlayson also suggested the Securities Commission should have looked into AML Foods alleged failure to disclose the existence of a potential bid fort he food retail group when publicly announcing its share buy back programmei n January. Suggesting the buy back was a direct response to hisi mpending hostile t akeover, with AML Foods management and existence aware it was coming, Mr F inlayson said that on Christmas Eve he had agreed with one of theB ISX-listed companys large r shareholders to buy their shares at $1.86 per share. T he larger shareholder, he then indicated, became concerned about leaving minority shareholders b ehind, and urged Mr Fin layson to make an offer that took account of all AML investors. Mr Fin layson said he was travelling to New York in early January, aware that AML Foods had a Board meeting, and that Board mem-b ers knew a $1.86 offer had b een made to some shareholders and was off the table. Emphasising that he was sure there was nothing sinister, Mr Finlayson questioned AML Foods failuret o release details of his impending offer with the share buy back announcement. He said he was then advised by his legal adviser,S enator Jerome Fitzgerald, t o release details of his hostile bid to make it clear exactly the terms he was offering, and to ensure there were no suspicions ofi nsider dealing. We mentioned it to the Commission, Mr Finlaysons aid. In my opinion, what the Commission shouldh ave been doing was focusing on the existing law, and m aking sure that was comp lied with. They should have given us a stamp of a pproval on this thing, cleared the AML Board,a nd applied the existing l aw. The Commission meant well, but took some really bad decisions on this thing. T hey took a long time to a ct. They were more panicked moves than the corr ect moves. The Commission, out of this transaction, has to go back and evaluate themselves. If they are going to push f orward this Bill to change the legislation, they should d o, and focus on that and the existing law. They should not try to push these guidelines ase xisting law. This is where they crossed the line and, as a result, ended up hurting the AML small share h older. B USINESS P AGE 8B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM .,1*6:$<$&$'(0<&+2/$56+,3 $11281&(0(17.LQJVZD$FDGHP\OHDGLQJ%DKDPLDQVFKRROZLWK UHSXWDWLRQIRUH[FHOOHQFHLQDFDGHPLFVDWKOHWLFVDQGWKHDU FRPPLWPHQWWR&KULVWLDQYDOXHVDQGVWURQJWUDGLWLRQRISXEOLF VHUYLFHLVLQYLWLQJSXEOLFVFKRROVWXGHQWVHQWHULQJ*UDGHLQ 6HSWHPEHUWRDSSOIRU WZRf SUHVWLJLRXVHDUVFKRODUVKLSV$fKH*UDFHDWKDP.HPSFKRODUVKLS1DPHGLQKRQRXURI.LQJVZD\IRXQGHU*UDFH7DWKDP.HPS7KLV VFKRODUVKLSLVIRUZHOOURXQGHGVWXGHQWZLWKSURYHQVWURQJDFDGHPLF SHUIRUPDQFH%f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fDFDGHPLF\HDUV*UDGHVDQGWR GDWHf7UDQVFULSWVZLOORQO\EHFRQVLGHUHGYDOLGLIWKH\DUHVXEPLWWHGLQ \RXUVFKRROVVHDOHGHQYHORS 1RWH 6KRUWOLVWHGFDQGLGDWHVZLOOEHLQYLWHGWRVLWWKHVFKRODUVKLS H[DPLQDWLRQDQGDSSHDUDWDQLQWHUYLHZ'HDGOLQH&RPSOHWHDSSOLFDWLRQSDFNDJHVKRXOGEHUHFHLYHG DWWKH+LJK6FKRRO'HVNLQWKH$GPLQLVWUDWLRQ %XLOGLQJE\DU WK (QWHUWREH7UDLQHGLQWKH.LQJV([LWWREHWKH 'LIIHUHQFH Concerns Commission acted outside powers FROM page one

PAGE 23

NEW YORK Associated Press J APANESEstocks have disappointed investors since 1990. No longer. Japan's Nikkei 225 index has climbed 15 percent since Nov. 1. The increase means Japanese stocks have done better over the past four months than they have in 1 7 of the last 21 calendar years. They are also beating t he major indexes in the U .S. and other countries. I t's new ground for the N ikkei 225, which has d one worse than U.S. s tocks in all but four years over the past two decades. Even with the gains, the Japanese index is still 73 percent below its peak, set o n Dec. 29, 1989. "I don't think this is just a one-time event," said Taizo Ishida, a portfolio manager who runs the$ 76.6 million Matthews Japan Fund and the $340.4 m illion Matthews Asia Pacific Fund. "I'm not bold enough to s ay this time is different, but it may be. The next 10 y ears won't be like the 1980s, but it will be up." To be sure, Ishida said investing in Japan can appear daunting to someone looking at Japan'sd emographic or economic d ata. Its population is aging, and Standard & Poor's lastm onth downgraded its credit rating. Last year, Japan ceded the title of world's No. 2 economy to China. But Ishida said Japanese corporate executives he talks with now are focused on growth, when a few years ago they cared more a bout keeping employm ent steady. Among other reasons to be optimistic: P rice: J apanese stocks a re some of the world's c heapest, when measured a gainst their book values. A company's book valu e shows how much it is worth after subtracting its debt and other liabilities from its assets. A lower price-to-book ratio indicates investors are getting ownership of the company's assets more c heaply. Japanese stocks a t the end of January traded at an average of 1.2 t imes their book value, according to investment a nalysis company MSCI. That's nearly 50 percent cheaper than U.S. stocks, w hich traded at 2.3 times their book value. J apanese stocks don't look that cheap when measured against their profits:T hey trade at an average of 17 times their earnings o ver the prior year, about the same as U.S. stocks. But that's much cheaper t han their average priceearnings ratio over the past 20 years, of 27 times. "People are saying, Wow, this might be too c heap for the type of growth we might be seeing,'" said DeborahM edenica, who runs the Alger Emerging Markets Fund, which launched at the end of last year. Economic strength: Economies are strengthe ning around the world. D eutsche Bank earlier this m onth raised its forecast for full-year 2011 U.S. economic growth to 4.3 percent from 3.3 percent. I nvestors can benefit from s tronger-than-expected U .S. growth in several w ays, but "Japan is the b est way," Credit Suisse s trategists wrote in a recent report. U.S. stocks may seem like the logical way, but Japanese companies that export to the U.S. will also benefit from stronger U.S. spending. A nd the Japanese stocks a re cheaper than U.S. ones. J apanese exporters also benefit from strong growth a cross Asia. Four of Japan's top five export markets are in Asia, i ncluding No. 1 China. Trade to such countries m eans Japanese companies can sell their products in yen more often, Ishidas aid. That shields them from t he yen's strength against the dollar: A stronger yen makes Japanese-made cars a nd cameras more expensive to customers paying in dollars. S afety: S tock markets in C hina, India and other developing countries have sunk in recent months onw orries that inflation will hurt growth. Protests in the Middle East have also highlightedt he risks of investing in emerging markets. That has pushed investors to yank money out of emerging market stock funds. In search of safety, many have turned to Japanesea nd other developed mar ket stock funds. Investors poured more new money into Japanese stock fundsd uring the week through Feb. 16 than in any other week in nearly four years, a ccording to fund-tracker EPFR Global. Consider Toshiba Corp., a maker of everything from nuclear reactors to televisions to vacuum cleaners. Its stock dropped 80 percent between the end of 1989 and early 2009. But it said earlier this month that strong growth in China helped it to a profit of 12.4 billion yen ($152.7 million ter, reversing a loss of 10.6 billion yen from a year earlier. Its stock has climbed 31 percent since Nov. 1. B USINESS THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 13B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Japanese stocks on the rise again Share your news The T ribune wants to hear from people who ar e making news in their neighbour hoods. Per haps you are raising funds for a good cause, campaigning for impr ovements in the area or have won an award. If so, call us on 3221986 and shar e your story.

PAGE 24

BUSINESS PAGE 16B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM OMAHA, Neb. A ssociated Press BILLIONAIREWarren Buffett wants Americans to be optimistic about the country's future but warya bout borrowing money and the g ames public companies play with profit numbers they report. Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that he still believes A merica's best days are ahead. "Commentators today often talk of 'great uncertainty.' But think back, for example, to December 6, 1941, October 18, 1987 and Sep-t ember 10, 2001," Buffett wrote, r eferring to the days before the Pearl Harbor attack, a stock market crash and terrorist attacks in theU .S. "No matter how serene today m ay be, tomorrow is always uncertain. Don't let that reality spook you." He said a housing recovery will likely begin within the next year,w hich would help the economy and several Berkshire subsidiaries, including ones that make carpets and bricks. Buffett's letter detailed how the a cquisition of Burlington Northern Santa Fe railroad, better results at Berkshire's other subsidiaries and a $1.9 billion paper gain on investments and derivatives combined tob oost the company's net income by 61 percent to $12.97 billion on revenue of $136.2 billion in 2010. The letter was full of good news f or Berkshire investors because nearly all of its businesses, except t he ones linked to housing, perf ormed well, said Glenn Tongue, a managing partner at T2Partners investment firm. "I think his tone in this letter was more optimistic than usual botha bout the economy and the business," Tongue said. Buffett also devoted part of his message to educating investors on key business principles. Buffett saidt he financial crisis of 2008 confirmed the dangers of investing with borrowed money because even a short absence of credit can ruin a company. When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbors get envious. But leverage is addic-t ive," Buffett said. "Once having profited from its wonders, very few p eople retreat to more conservat ive practices." That's part of why Berkshire always keeps at least $20 billion cash on hand for unforeseen events or investment opportunities, he said.A t the end of 2010, its cash reserve totaled $38 billion. Buffett urged investors not to focus on the net income figures that companies report because they aree asily manipulated through accounting tricks or by selling investments. He said Berkshire's net income can be particularly misleading because of the large amount of unrealizedi nvestment gains or losses the company holds at any given time. He said that regardless of Berkshire's performance, it could easilya nd legally "cause net income in any given period to be almost any n umber we would like." B uffett also offered Berkshire shareholders few new details about how the company would function once he is no longer running it. The 80-year-old chairman and C EO of Berkshire said that investment manager Todd Combs will manage $1 billion to $3 billion of Berkshire's $158 billion investment portfolio. Berkshire hired Combsl ast fall, and Buffett says Combs has the risk aversion, dedication and track record he wants in an investment manager. To replace Buffett, Berkshire p lans to split his job into three parts chief executive officer, chairman and several investment managers. Buffett, however, has indicated thath e has no plans to retire, and he says he loves his work and remains i n good health. Warren Buffett remains optimistic about US future


THE TRIBUNE =
i
it , —_ — - / — —= = —_—"

BAHAMAS FIRM'S
VESSEL SEIZED ON
9126K DEBT CLAIM

By NEIL HARTNELL
Tribune Business
Editor

A BAHAMIAN ship-
ping company has had one
of its key vessels seized by
US marshalls via court
order and impounded in
Palm Beach, after it was
alleged not to have paid
the Palm Beach Shipping
Agency $126,347.19 for
shipping-related services.

Nassau-based Dean’s
Shipping Company has
seen its MV Legend ves-
sel seized, and placed in
the care of US-based
National Maritime Ser-
vices, due to the dispute
over alleged non-payment
of stevedoring, wharfage
and other fees between
October 18, 2010, to the
present.

Dean’s Shipping has
served notice of its intent
to defend the matter and
rescue its vessel, although
court documents obtained
by Tribune Business show
it has yet to do so.

In its lawsuit, the Palm
Beach Steamship Agency
alleged: “Since October 18,
2010, plaintiff provided
necessaries to the [MV
Legend], to-wit: labour,
wharfage, advances and
other services pursuant to
an agreement between
plaintiff and vessel’s own-
ers, charterers, and/or
authorised agents on a
fixed rate basis.

“The defendant vessel
has failed to pay for these
services at plaintiff’s office
in the amount of
$126,347.19 despite repeat-
ed demand for payment
submitted to the defendant
vessel, Legend II, and/or
her owner, charterer or
operator, defendant
Dean’s.”

The Palm Beach
Steamship Agency is seek

SEE page 5B

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



Be ene eT Beate
and experience the amazing
luxury Pree et ere) rai The
ier

MONDAY,

By NEIL HARTNELL
Tribune Business Editor

BUSINESSMAN Mark Fin-
layson is withdrawing his $12
million ‘hostile takeover’ bid to
acquire a 51 per cent majority
stake in AML Foods, after the
Associated Bahamian Distillers
and Brewers (ABDAB) Board
decided the company’s share-
holders would gain better
returns from City Markets’
organic expansion instead.

Speaking with Tribune Busi-
ness following last week’s
ABDAB Board meeting, Mr
Finlayson said that while the
directors approved the acquisi-
tion of the 78 per cent Bahamas

FEBRUARY 28,



2011

=

BREITLING

* ABDAB Board turns down deal due to ‘not enough value’ being
contained in $1.50 per share premium

* Mark Finlayson instead instructed to pursue organic City Markets
growth through three ‘SuperCentre’ sites

* Board does approve share swap deal for 78% City Markets deal,

pending valuation

* Instructions also given to explore M&A possibilities with Robin
Hood, Phil’s Food Services

Supermarkets stake owned by
his family’s 100 per cent-con-
trolled investment vehicle,
Trans-Island Traders, they felt
there was “not enough value”
for ABDAB shareholders in his
$1.50 per share offer to AML

Concerns Commission
acted ‘outside powers’

By NEIL HARTNELL
Tribune Business Editor

THE ‘hostile’ bidder for
BISX-listed AML Foods
has expressed concern that
the Securities Commission
acted outside its statutory
powers by attempting to
impose takeover guidelines
on the offer as if they were
laws, adding that the share
suspension implemented
last week only hurt smaller
investors.

Mark Finlayson, speaking
after he decided to with-
draw his $12 million, $1.50
per share offer to acquire
AML Foods at the behest
of the Associated Bahami-
an Distillers and Brewers
(ABDAB) Board, ques-
tioned whether the capital
markets regulator had acted
“ultra vires” in seeking to
impose guidelines that, at
the moment, have no basis
in Bahamian law.

“T think, as any first-year
law student will tell you
after doing contract and
administration law, that
every government depart-
ment has to be very careful
not to act ultra vires,” Mr
Finlayson told Tribune
Business.

“T really think the Com-
mission acted outside its
powers in suspending these
shares. They justified it by
Section 54, but on what
basis did they exercise Sec-
tion 54? That’s the ques-
tion. These are [Takeover]
guidelines that have not
been considered by the
Cabinet, the House of
Assembly, the Senate, and
they were acting as if these
were laws.

“The guidelines they put
forward, they were acting
as if these were laws, and
that’s where my disagree-
ment with the Commission
comes in. I believe they

were acting Ultra Vires
their powers. They should
not have got the two things
confused.”

In the absence of a
Takeover Code contained
either in statute or regula-
tions, the Securities Com-
mission had been attempt-
ing to get Mr Finlayson and
AML Foods to agree on a
process for his ‘hostile’
offer, based on draft stan-
dards and best practices
they will shortly issue for
consultation.

However, no agreement
was reached, and the Secu-
rities Commission last week
suspended trading in AML
Foods’ shares indefinitely,
fearing that an orderly mar-
ket in them had been dis-
rupted by everything
swirling around the
takeover. In particular, the
regulator was said to be
especially exercised by
comments such as Mr Fin-
layson saying he had 20 per
cent of AML Foods’ shares
“locked up”.

“But what

did that

achieve,” Mr Finlayson
questioned of the share sus-

SEE page 8B



Foods’ investors.

Mr Finlayson said that as a
result, he and his father, Sir
Garet ‘Tiger’ Finlayson, as
Trans-Island’s owners decided
to withdraw their bid to acquire
a 51 per cent majority stake in

307% PRICES FALLS

OSE ay

By NEIL HARTNELL
Tribune Business
Editor

Price decreases of “at
least 30 per cent” on
average compared to
2007-2008 levels have
helped to stimulate activ-
ity in the Bahamian real
estate market, a leading
realtor believes, with sell-
ers no longer “living in
la la land” and realising
that current market lev-
els may be here to stay.

George Damianos,
president of Lyford Cay
Sotheby’s International
Realty, told Tribune
Business that increasing
realism among Bahamas-
based property sellers
was helping to revive
transaction volume, as
they had adjusted prices
and expectations to the
new economic climate,
coming down to levels
that would interest val-
ue-seeking buyers.

“The reason this mar-
Ket has picked up is that
prices have come down

SEE page 7B

BISX-listed AML Foods, thus
bringing to an end the first ‘hos-
tile takeover’ attempt in the
Bahamian capital markets his-



tory.

SEE page 5B



BUSINESSMAN
Mark Finlayson

CITY MARKETS SUPERCENTRES
IN “SIX-SEVEN MONTHS TIME’

* Supermarket chain to ‘move right away’ on three 55,000
sq f{t sites, although Freeport may take 12-13 months

* Staff complements per store may number 35, rather than

average 50

By NEIL HARTNELL
Tribune Business Editor

CITY MARKETS plans to
“move right away” on the $12
million transformation of
three Associated Bahamian
Distillers and Brewers
(ABDAB) owned properties
into City Markets Super-

Centres, the companies’ prin-
cipal telling Tribune Business
that the two sites in Nassau
could open in six-seven
months time.

Mark Finlayson, speaking
after ABDAB’s Board
approved the acquisition of

SEE page 4B

BAHAMAS AIRLINE TARGETS
APRIL 1 FOR US SERVICE

Adding 20 staff, and acquiring
another $1.4 million plane

By NEIL HARTNELL
Tribune Business Editor

A LEADING Bahamian-owned airline is
looking to start service to Fort Lauderdale
from Nassau and Freeport on April 1, and
is in the process of hiring more than 20
extra staff and acquiring another $1.4 mil-

lion plane.

SEE page 4B



Sky Bahamas chief
executive Captain
Randy Butler





















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PAGE 2B, MONDAY, FEBRUARY 28, 2011 THE TRIBUNE

ee els



By ROYALFIDELITY
CAPITAL MARKETS

IT WAS a slow week of
trading in the Bahamian stock
market. Investors traded in six
out of the 24 listed securities,
with no advancers and five

volume of 1,000 shares to see
its stock fall $0.52 to close at
$5.48.

Bank of the Bahamas
(BOB) traded a volume of
1,000 shares, its share price
falling $0.02 to close at $4.40, a
new 52-week low.

Finance Corporation of the
Bahamas (FIN) released its
audited financial results for the
year ended October 31, 2010.
FIN reported net comprehen-
sive income of $18.2 million for
the year compared to $4.6 mil-
lion in the prior year, repre-

EQUITY MARKET - TRADING STATISTICS

Week ending 25.02.11

BISX SYMBOL...CLOSING PRICE.....\WKLY PRICE CHANGE ........ VOLUME ........ YTD PRICE CHANGE

decliners. Commonwealth Bank senting an increase of $13.7 AML... eects $1.04 ccc cceeceseeees Da eececsesscsessesseeseeseesees O veececseceeseeseessseeees 7.22%
(CBL) traded a volume of million or 298 per cent. BB Lcssseevessceesssetees DONS sescssceceesesseseseeasoesss Geese: Ove 00%
EQUITY MARKET 1,000 shares to see its stock Net interest income of $28.2 i _ 9
Bit cl 6s0-beres een 900 eds Wllion na amo ee BOB... eeeereeeees $4.40. ecceteeeeeeeeeees $0.02 ooeeeecececssseseeeees L500 wee eeeeeeeee 10 oe
changed hands, representing $6.80. of $73,000, compared to $28.3 BPF Boece eee eee seeeeeneees $10.63 Pee eee ee eee n eee ee eens seees $- OOS ESOT TSS e TST eee eT eT eee eT ers 0 Pee e eee ee ee en eee eeeeeeees 0 00 %
a sharp decrease of 56,060 FamGuard Corporation million in the previous year, SLs reeeeeesisse BOSOM eeseaaseserecesscrecaeass. De aes eteceasaeaeneeseteease Oe aaeactens 0.00%
shares compared to last week's (FAM) traded a volume of while total non-interest BWL ues $2.70. eececcssesesseseeeseesesees Da ececceceesesseeeeteeseeeeees O) ceeceeseseeseeeeeeseeees 0.00%
trading volume of 74,710 1,000 shares, its stock falling expense increased from $12.2
hares: $0.22 to close at $5.25, a new million in 2009 to $12.3 million CAB vrscsccseseseeseivs $10.21 oe eceeeseeereeeeees Do eeeeeeesseeeeoes assests: T5O vecsecsseseeseeseesees -2.39%
Finance Corporation of the 52-week low. during 2010. CBL woe ceececceeteeee PO.BO. cc cccsccseceseeeees $-O.05 vocccccscseseeseees 6,150 voeeeeceeeteeeeee -2.86%
Bahamas (FIN) was the vol- Allowance for credit losses CT sescsrsssenesnsccescs $2 A eorcramemeannmcteen Geeeeoeceees Cees: 0.00%
ume leader, trading a volume BOND MARKET stood at $1.3 million, a sharp CIB $9.39 $- 0 0.00%
of 8,250 shares to see its stock No notes traded during last decline from the $15.1 million Bee eeceecceccceescceces aD TF ccnccccececcseeessesseessseeseny scene sees eees seen esses sessssse dt ssnesssesesesseseeesssees Oo
fall $0.26 to close at $6.25, a week. reported in 2009. FIN man- CWCB 2... eee D2 eeeeeeeeesteces $-0.03 ...eeeseseseseceeeeeeeeee Oveeeeneee: 18.58%
new 52-week low. agement said the decline came DHS... $1 AQ. cccecceeeceeeeeees De sevesesearestassssetsssss teas Ooeesssetteeeescsstisss -12.50%
FOCOL Holdings (FCL) = COMPANY NEWS about after review of its provi- FAM veessssssccsssseee $5.25 vecsssssssssessensssee B-0.22 aecssscseessseeen 1,000 -13.51%
was the big decliner, trading a Earnings Releases: sioning policy, whereby the ie ji
provisioning ratio was reduced FBB... ee ceeeeeeeees DQ eeececeseeeeseesseeseeeeees Do ececccceseeeseeeseesesees Oneecesccseseeseeseeeeees 0.00%
to 30 per cent of non-accrual FCL woeceeeeeeteeees G5 .4B Le eccceseeeeeseeteeeee $-O.52 oo eeeceteteteeeeeeee 1,000 wees 0.37%
a instead of 40 - cent. ; FCLB ooeesccscssssssse $1.00 .cesssesssseeessssscccssssee Be cecccccsssssssssnnuneeessseees Onssssseesseessssescecsen 0.00%
arnings per share as a
December 31, 2010, were FIN. eeeceeseeeeees $O.Q5 eececccssceseeseseseeeees $0.26 coceccceseccsseseeeees 8,250 veeeeesesceseeeeeee -13.55%
$0.68, up $0.51 when compared NC) ccessaneesecennecsess D7 AO ceeccccccccessssesseeeees Da eecccccscsesseesesesseeseeees Oe ieoetcpeeeeneceneesseees 0.00%
to $0.17 in the comparative IST voeecstessesseeesseees $9.82. ceccsssescssteceesneeesene SS ses esessrarermmnonedsatsoesss O veescssssssessssssseeeee 0.00%
ped. PRE vescessssssesssee $10.00 ccsscsssecssesesseeese Fe cceereastnaioiseeseeet Oveecsstssesesssense 0.00%

Registration for the first session of the
“Learn to Swim” program will take place at
Queen‘s College poo! on
Saturday, March 5th, 2011

Total assets at year-end
October 31, 2010, stood at $967
million compared to $908 mil-
lion at October 31, 2009, while
total liabilities were $867 mil-

BOND MARKET - TRADING STATISTICS

from 000m to 11:00am lion compared to $826 million BISX SYMBOL DESCRIPTION VOLUME PAR VALUE
ALL swimmers, HEW or RETURHING, MUST register: at the previous fiscal year-end.
yraaeadiNok FBB13 FBB Series C Notes Due 2013 0 $1,000
(1) LEARN TO SWIM FOR CHILDREN ividend Notes:
Commonwealth Bank FBB15 FBB Series D Notes Due 2015 0 $1,000
( ) LEARN TO SWIM FOR ADULTS (CBL) has declared a dividend
of $0.06 per share, payable on FBB17 FBB Series A Notes Due 2017 0 $1,000
February 28, 2011, to all ordi-
nary shareholders of record FBB22 FBB Series B Notes Due 2022 0 $1,000
; r date February 15, 2011.
Pe f OO — F dc INTERNATIONAL
ff . _ / amguar orporation
re y C Ty) , (FAM) has declared a dividend INTERNATIONAL STOCK MARKET INDEXES
fh , = of $0.06 per share, payable on MARKETS
ot S March 2, 2011, to all ordinary 0
ee shareholders of record date FOREX Rates Index Weekly Change
Visil our website for registration forms, | February 23,2011. Currency Weekly % Change DJIA 12,130.45 -2.10
start dates, prices and full AGM Notice:
swim schedules: Finance Corporation of the CAD 1.0232 0.84 en Fave ieatees tae
www. barracud aswimming. OFq | Bahamas (FIN) has announced NASDAQ 2.781.05 4.87
. its AGM will be held at the GBP 1.6119 “0.76 a
3 ~ = British Colonial Hilton Hotel EUR 1.3750 0.45 Nikkei 10,526.76 -2 94



on March 17, 2011, at 6:30pm.

Villas at Grand Isle, Exuma, Bahamas

FOR SALE

S)villas at Grand Isle,
the Emerald Bay master development,

located on the island of Cireat Exuma,

are available

within
With

for sale,

breathtaking views, exquisite interior designs and top of the line
furnishings, the villas are distinctively decorated and designed. The units
feature 9° high vaulted ceilings, master suites with a private balcony and
All villas include full-
sized bathrooms, furnished with a whirlpool tub, oversized showers with
seating, marble vanity tops, mosaic tiling and Kohler fixtures. Kitchens
include Sub-“ero refrigerators, oven and range stoves, microwaves,
wood cabinets, granite countertops and double-basin stainless steel sinks.

French sliding glass doors overlooking the beach.

Olters will be considered for all the villas or in blocks. The villas are
being offered for sale by the Receivers and Managers of the villas.
Interested parties should contact the
additional information:

Receivers and Managers for

Simon Townend
KPMG Restructuring Ltd,
PO Box N 123

Montague Sterling Centre
East Bay Street

Nassau, Bahamas

Juan (John) Lopez
KPMG Restructuring Ltd,
PO Box F 40025
International Building
West Mall Drive
Freeport, Bahamas

ia ‘ f ig
Tel: (242) 393-
Fax: (242) 393-

Tel: (242) 352-9384
Fax: (242 352-6862

2007

79

4, Fat a a -
a rent

atts mitra eee agate

Cae mer icp MU) ATet Ie ml MU AL Ae) Pt am COLAO) Coal
et ee ete aa

+ All new Flat Screen TVs with cable programming
a RR En sg

Limited-time offer, reserve today. Call 242-363-3680

utd ux Tote) lacs

ee ee |



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

MONDAY, FEBRUARY 28, 2011, PAGE 3B







DIONISIO
D’AGUILAR

AML chief warned: Ready for ‘neofights’

CITY MARKETS’
chief executive has
warned AML Foods
chairman, Dionisio
D’ Aguilar, to prepare for
“neofights”, following his
characterisation of the
rival supermarket chain’s
management team as
‘neophytes’ over their
alleged lack of food retail
management experience.

Describing how she
read Mr D’Aguilar’s com-
ments with “some degree
of amusements”, City
Markets chief, Benita
Rahming, said they were
“a blatant disregard for
the combined profession-
al experience of this
female management team
and the ability of women
in these respective roles”.

She added: “The new
owners and management
of Bahamas Supermar-
Kets, the parent company
of City Market, is very
committed to creating a

COMMONWEALTH OF
THE BAHAMAS

IN THE SUPREME COURT
Equity Division

BETWEEN

IS THE MATTER OF THE
QUIETING TITLE ACT, 1959

AND

AML Foods eyes new food
store in southern NP

By NEIL HARTNELL
Tribune Business Editor

AML Foods’ chairman yesterday
expressed delight that the $12 mil-
lion ‘hostile takeover’ bid to acquire
a5l1 per cent stake in the BISX-list-
ed food group had been withdrawn,
telling Tribune Business that the
company was eyeing expansion pos-
sibilities through another food store
in southern New Providence.

Speaking after this newspaper
informed him that Mark Finlayson
and his family’s Trans-Island
Traders vehicle were withdrawing

new shopping experience
for our loyal customers

through January 31, he
would find that sales at

their $1.50 per share offer, Dioni-
sio D’ Aguilar said: “I would be lying
if I did not state that was a major
distraction.

“We have to go back to our core
business and what we have been
doing very well. It’s s difficult mar-
ket out there. There’s always new
companies in the market and situa-
tions that create anomalies in your
business.”

Mr D’Aguilar highlighted the
detrimental impact that roadworks
on Robinson Road, between Blue
Hill Road and the Marathon Mall
area, were having on customer

gender that does most of
the shopping

access to the group’s Solomon’s
SuperCentre store.

He added: “In the short-term it’s
had an effect on Solomon’s, mak-
ing it very difficult to get to
Solomon’s right now. There are
issues that are affecting our busi-
ness, and now we can focus on
addressing those.”

AML Foods is awaiting the open-
ing later this year of its $4.5 million
Solomon’s Fresh Market store in
western New Providence, and Mr
D’Aguilar added: “We’re actively
looking for another location, prob-
ably in southern New Providence,

to expand there. That’ll be a food
store to grow the business.

“We’re certainly not going to role
over and play dead.

“There are a lot of people enter-
ing the market. Where Mr Finlayson
was right and very astute was that
this market is becoming very crowd-
ed, and you have to think very hard
about where and when you build a
new location.

“The population is very static, and
spending on food is not increasing
much.

“You're just taking that pie and
splitting it more each year.”

FOR SALE BY OWNER

whose opinions we hold
in high regard. This
approach is evidenced by
the fact that we just don't
sit in Boardrooms or in
our executive offices and
make decisions, but we
can be found, on a daily
basis, strolling through
the City Market aisles
speaking with our associ-
ates and guests.

“The AML chairman's
resistance to connecting
the dots between ‘retail
and luxury’ may be some-
thing he comes to regret,
as our focus at City Mar-
Ket is to afford our thou-
sands of customers noth-
ing but the best.

“Mr D'Aguilar must
appreciate the fact that
numbers don't lie, and if
he compares the sales fig-
ures of BSL/City Market
and AML during the peri-
od November 2010

M10 Ne, (M133

IN THE MATTER of the Petition of
Clayton Culmer and Sheena Culmer

AND

IN THE MATTER OF ALL THAT piece parcel or lot

of land situate in the Western District af the Island af

New Providence containing 26.012 square feet being Lot Number
Thirty-Tweo (32) of the Subdivision called and known a5. “Summer
Haven Estates” situate om the Eastern Side of Blue Hill Road North of
Highland Drive and approximately 120 feet North of Marshall Road
which said Lot of land is bounded NORTHWARDLY by Lot Nurnber
Thirty (30) of the said Subdivision and runming thereon One Hundred
and Sixteen and Fifty-Two hundredths (116.52") feet EASTWARDLY
by a portion of Lot Nunber Thirty-one (31) and Lot Number Thirty
Thee (33) of the sacd Subdivision and manning thereon Cre Hundred
and Seventy Four and Seventeen Hundredihs (174,17"} feet
SOLUTHWARDLY by the said Highland Drive and rusning therecn
One Hundred and Eighty Two and One Hundrediths (182, 10") fect and
WESTWARDLY by the said Blue Hill Road and ranning thereon One
Hundred and Fifty Nine amd Ninety Two Hundredths (159.92") feet
which said piece parcel or lot of land and has such position, boundarics,
shape, marks and dimensions ag are more particularly delineated on the
Plan filed with the Department of Lands and Surveys being Pan Na,

5130 NLP.

NOTICE

The Petitioners Clayton Culmer and Sheena Culmer claims te be the
owner of the foe simple lot of land in possession the tract of land
hereinbefore described free from encumbrances.

And the Petitioner has made application to the Supreme Court of the
aforementioned Commonwealth of the Bahamas under Section 3 of the
Quieting Titles Act, 1959 in the above action, to have this tithe to the
axl tract of land investigated and the nature and extent thereat
determined and declared ina Certificate of Title ta be pranted in
accordance with the provisions of the said Act,

Nobee is hereby giver that any person having a Dower ora right to
Dever of an adverse to claim or a claim met receenized in the Petition
shall on or before the expiration of Thirty (30) crys after the final
pedlicaton of thess presents file in the said Registry of the Supreme
Court and serve on the Petitioner or the undersigned a Statement of bis
claim in prescribed form verified by an affidavit to be filed therewith.
Failure of any sach person to file and serve a Statement of his Claim on
or before the expiration of Thirty (30) days after the final publication of
these presents shall operate as a bar to such claims,

Copées of the said plan may be inspected during norttal hours at the
Registry of the Supreme Court, East Street North, Nassau, N.P.,
Bahamas or the Chambers of C, Yvette McCartney, Building No. 10,
Seventh Terrace West, Centreville, Nassau, Bahamas.

Dated the 15* day of February, A.D. D001.

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AML declined, while
sales at City Market grew
and continue to grow;
not bad for a ‘neophyte’
team.”

Ms Rahming said: “I
caution Mr D'Aguilar to
remember that women
are the chief financial
officers in most house-
holds and they are the

“We are proud of our
executive team - in par-
ticular, because they are
women, they are mothers
and they are the primary
shoppers. The combined
professional experience of
our team is extremely
sound and one that is
already yielding successes
for our company.”

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.





OCEAN VIEW LOT

in Treasure Cove
Lot number 145 is 67100 feet in size.
This unobstructed ocean view lot is located directly across the
street from the ocean and community beach
Offered at $198, 000 net

Call: 422-6082 for further infarmation

Goods-In-Transit and Cyber
shop/Burglary Insurance

2011 -

2012

The Bahamas Telecommunications Company Ltd. (BTC) is pleased
to invite Tenders to provide the Company with insurance coverage
for its Goods - In - Transit and Cyber Shop/Burglary policies.

Interested companies/firms may collect a Tender Specification from
the Security's Desk located in the Administrative building on John F.
Kennedy Drive, between the hours of 9:00 a.m. and 5:00 p.m.
Monday through Friday.

The deadline for submission of tenders is March 9th, 2011. Tenders
should be sealed and marked “TENDER = GOODS-IN-TRANSIT AND
CYBER SHOP BURGLARY INSURANCE” and should be delivered to
the attention of the Acting President and CEO, Mr. |. Kirk Griffin.

BIC reserves the right fo reject any, or all Tenders.

COMECTOA ANY LIME... ANYNNEFE...

Gorn

ENTERPRISE |

WIRELESS

| BROADBAND | YOIRCE | DIRECTORY




PAGE 4B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



BUSINESS
Bahamas airline targets April 1 for US service

FROM page one

Following closely behind
last week’s start of service
from Nassau to San Sal-
vador, to which it plans to
fly three times a week, Sky
Bahamas is looking to com-

KPMG

aulting Pirawg comiadanity

mence service from Nassau
to Fort Lauderdale, via
Marsh Harbor, and Freeport
to Fort Lauderdale, on April
1, 2011,

Moving to exploit the
rebound in business travel
resulting from a rebounding
economy, Captain Randy

Butler, Sky Bahamas chief
executive, said the airline
had hired nine more persons
last week, with another five
cabin attendants due to start
this week. Another nine
staff, including seven guest
service staff and two ground
staff, are also due to come

A global leader in audit, tax and advisory services

We ane cumently secking an Associate for our Advisory Serviows team, focusing on Corporate Finance and

Transaction Seriocs

Rey job functions and responsibilities include;

Assisting Pomarihy mo Conporate Firance acd Transaction Services anpgemans

on board, bringing the new
recruit complement to
around 23 persons.

“We’re looking for anoth-
er plane for the Us route.
We’re hoping that airplane
will be shipped by May,”
Captain Butler added, stat-
ing that it would be a $1.4
million Saab-340.

“Based on what’s going
on, we’re really optimistic.
The business has taken off,
and some of it is related to
new projects coming online,”
he added. “We’re seeing
business growing, and as
these projects get going
there’s renewed demand for
business travel.”

With contractors starting
to increase their back and
forth travel, Captain Butler
said there was increased
demand for routes from Nas-

sau to Freeport, Abaco and
Exuma, with the latter being
heavily impacted by the San-
dals Emerald Bay resort.

“We see Sky Bahamas
really in terms of being the
preferred airline for business
and leisure travellers in the
Bahamas, to the US and to
the Caribbean, like the
Dominican Republic and
Turks & Caicos,” Captain
Butler, adding that Sky
Bahamas’ service to Cat
Island would likely become
even more important with
the likely withdrawal of Con-
tinental Airlines.

“We have partners in the
hotel industry who keep us
in the loop, tell us what’s
going on,” he said.

“The business has just
been taking off.

“People have been enjoy-

ing the service we’ve been
giving them, and enjoying
the Bahamas.

“The only thing we’re
lacking is this national strate-
gic plan for aviation.”

Captain Butler again com-
plained about the market-
distorting impact that
Bahamasair’s ‘March Mad-
ness’ promotion would have
on the Bahamian private avi-
ation market, telling Tribune
Business that the national
flag carrier, which last year
cut prices to $79 one-way,
had now dropped to $49 for
its San Salvador route - right
as his airline was about to
launch its new service.

He added that Bahamasair
had already reduced its San
Salvador ticket price from
$211 to $190, in response to
Sky Bahamas’ $189 plans.

.
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« Campiing and Saimuinng desi Gate rome.

« Providing support to managers, directors, and parteers on assignments.

The Acsociste ip expected to have the following qualifications and attributes;

4 Bachelor's dagees in sccounting. finance or economics

2-3 years work superience in the financial sence sector

A corona finance of restirecturing background.

Strong ability to arabes and solve problems, leveraging the contribution of others and tating responsibility
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FPAIG ofr competing malariae and ainipeyi bane inching a eedical and gardion plan.
Applicants should submit. cower letter, resume, 2 copy of their transcripts, and a copy of their professiona

cartfication by Prideay, Manch 11, 2091 boo human Resources Manager, RPK, PO, Bow M123, Meee,
Bahamas on

haha da eperiay. Co i. oe

AUDIT «= TAX @ ADVISOR?

City Markets SuperCentres
in ‘six-seven months time’

FROM page one

the 78 per cent City Markets stake owned by
his family-owned vehicle, Trans-Island Traders,
pending an evaluation of its worth, said he
anticipated that architects’ drawings and plans
for the site would be ready by end-March.

“We’re moving right away. I was told to not
hesitate on this, and move right away,” Mr
Finlayson told Tribune Business of the plans
for the three sites, at East-West Highway and
JFK Drive/Bethel Avenue in Nassau, and
Queen’s Highway in Freeport. “With an
instruction like that, and money in hand, we
need to move right away.

“In anticipation of that, ve been talking
to some architects and Supervalue in the US
about helping with the design. Between the
Bahamian architects and Supervalue, we
should have a plan by the end of March.”

Mr Finlayson added that a visit to Super-
value’s independent stores in the US had sur-
prised him in terms of how easy and inexpen-
sive it was to convert buildings similar to those
being eyed for City Markets’ expansion.

“T think in six to seven months the ones in

Nassau will be open for business,” Mr Fin-
layson said. “The one in Freeport is going to
require some additional work, more like 12-13
months.”

The Queen’s Highway site contained two
buildings, one of which was owned by
ABDAB through Bethell-Robertson, and the
other was the property of Burns House. “The
two buildings are separate, but there may be an
opportunity to combine them because Burns
House has their building up for sale,” Mr Fin-
layson said.

“T’m also going to talk to Burns House to see
what the opportunity is.

“That might be the quick route to satisfy
the store’s requirements.”

The three City Markets SuperCentres will be
some 55,000 square feet in size, and given that
the company’s average existing store employed
50 persons, Mr Finlayson said he had antici-
pated a similar staffing level at the new sites.

However, he added that in the opinion of
new chief executive Benita Rahming, they
were “not going to need as many people,
because we will implement new systems she
will bring to the table. So the store staff may be

in the range of 35, rather than 50”.

Arawak Port Development — Request for Proposal for the
Terminal Management and Development of the Arawak Port
Bulk Terminal

Invitation to qualified Bahamian firms to submit proposals for providing bulk material
handling equipment and bulk handling services

Ie Bank of The Bahamas

Arawak Port Development was established in 2010 pursuant to a MOU between the
Bahamas Government and Arawak Port Development Ltd and for the purpose of
developing Arawak Cay into an international port facility serving the break bulk cargo,
bulk materials and containerized freight needs in New Providence. The port development
and operating agreement with the Government of The Bahamas provides Arawak Port
Development with exclusive rights to operate the port in New Providence for twenty
years and provides Arawak Port Development with a 45 year lease for the port property
on Arawak Cay.

EMPLOYMENT OPPORTUNITY

The Bank of The Bahamas International, the institution of first choice in the
provision of financial services, seeks to identify suitable candidates for the
position of:

In July 2010 Port construction began and is expected to conclude by December 2011. The
bulk material terminal operations are presently managed on temporary facilities. The port
plan describes the area designated for the port bulk terminal, comprising approximately
8 acres (A copy of the Bulk Terminal plot may be obtained from the APD Ltd office).
Arawak Port Development requires that bulk material construction begin on or before
April 15, 2011 and is completed by December 31", 2011.

Treasury Risk Analyst

Core Responsibilities:

Comprehensive understanding of risks and their inter-relationships
especially as it relates to credit, interest rate and liquidity risks
Performs various analysis to facilitate the management of liquidity risk,
asset liability management and cash flow;
Be able to calculate, analyze and comment on the various liquidity and
credit ratio implications, to facilitate ongoing strategy adjustments;
Assesses and analyze impact of forex risk and preparation of
regulatory reports for foreign exchange operations;
Undertakes high level economic assessment, scenario and stress
testing to facilitate ongoing risk management and regulatory reporting;
* Assesses the Bank’s ability to respond to varying economic conditions
and scenarios by performing credit, capital adequacy, interest rate and
liquidity stress testing; and
* Assists in monitoring and analyzing the current liquidity position
through GAP analysis reporting.

The Terminal Operator will be expected to operate and invest in the bulk terminal facility.
On the basis of a mutually agreed upon formula, the Terminal Operator is permitted to
charge a bulk material handling fee which will serve to compensate the Terminal Operator
for any investments made in the facility and address all operating expenses. Arawak Port
Development will establish the rules and regulations on how to operate the bulk terminal.
The Terminal Operator will be required to conform to these requirements in order to
remain in good standing with Arawak Port Development. Should the Terminal Operator
fail to meet the minimum operating requirements and the agreement be terminated for
cause, Arawak Port Development will have the nght to acquire all investments made by
the Terminal Operator. Among other equipment and facilities, the Terminal Operator will
be required to invest in a conveyor system which will connect the terminal berth to the
terminal’s customer loading area. The Terminal Operator will also be required to invest in
a bulk material containment facility and cement and bitumen storage facilities.

Terminal Operators interested in the providing the bulk material handling services in
the Arawak Port are invited to submit a proposal to include but not be limited to the
following:

. Business structure; sole entity or a consortium of partners. Please explain
and provide background of consortium.

. Evidence that the applicant is licensed to provide bulk material handling
services in the Bahamas.

. Summary of current and historic experience in the bulk materials handling in
the Bahamas.

. The Arawak Port will not have exclusive rights to receive and handle bulk
materials shipped to New Providence. What volume of bulk material is the
applicant prepared to guarantee despite continued competition with other
bulk terminals in New Providence, most notably Clifton Pier.

. The strategy on how independence and service level is guaranteed for all
different users whom will import and export via the terminal.

. Evidence from any one or more of Royal Bank of Canada, First Caribbean,
Bank of The Bahamas, Royal Fidelity, Scotiabank or other recognized firm,
indicating the applicant’s ability to invest a minimum of $7 million on

demand.

Procedure:
Upon receipt and satisfactory analysis of the provided qualification criteria, Arawak

Job Requirements:

¢ Bachelors Degree in Accounting, Finance, or Business Management.
* 5 years supervisory/management experience.

Specific knowledge of risk management processes especially

management of liquidity risk.

Broad knowledge of treasury practices and procedures.

Good computational skills.

Strong oral and written communication skills.

Proficient in Microsoft Office.

Must be a team player.

MBA would be advantageous, but not essential.

Benefits include: Competitive salary and benefits package, commensurate
with work experience and qualifications. Interested persons should apply no
later than March 7, 201 1 to:

Email: hr.apply@bankbahamas.com
or fax to: 242-323-2637



Port Development will provide the successful applicant(s) with detailed construction
requirements, the terms of reference for the use of the temporary facility and the Terminal
License agreement for the bulk terminal area. Shortlisted companies will be invited to
present their proposal on or before March 18th, 2011.

You are requested to hand deliver your submission to the office of Arawak Port
Development Ltd. Submissions must be received by March 11th, 2011.

Arawak Port Development
House of Mosko’s Building
Corner of Bay & Victoria Street.



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

MONDAY, FEBRUARY 28, 2011, PAGE 5B



‘Hostile’ $12m AML offer is withdrawn

FROM page one

However, this is not the end
of Mr Finlayson’s efforts to
bring much-needed consolida-
tion to the Bahamian food
retail industry. Apart from
directing him to proceed with
plans to convert three
ABDAB-owned real estate
holdings into City Markets’
SuperCentres, Mr Finlayson
told Tribune Business that the
Board had directed him to re-
open talks with Phil’s Food
Services and Robin Hood, to
see if there were mergers and
acquisition possibilities there.

Detailing last week’s devel-
opments, Mr Finlayson said:
“The ABDAB Board meeting
went the way I thought it was
going to go, and had a little
twist which I thought was not
going to happen.

“IT presented a proposal
where ABDAB was to buy the
shares Trans-Island Traders
owns in Bahamas Supermar-
kets, namely the 78 per cent. In
principle, the Board agreed
with that concept.

“That was the plan, and the
second thing that happened,
which was also the plan, was
that we decided we were going
to get an independent evalua-
tion done by CFAL and Roy-
alFidelity to determine what
the true value of Bahamas
Supermarkets shares is.”

Trans-Island Traders
acquired its 78 per cent major-
ity stake from the ill-fated BSL
Holdings group, who were des-
perate to exit and find some-
one to save City Markets from
bankruptcy, for just $1.
Bahamas Supermarkets’
shares, though, are currently
trading on the over-the-
counter market at $5.01, mak-
ing it difficult do determine
their true value, especially giv-
en this market’s illiquid nature.

Mr Finlayson, though, said it
was critical to determine a true
value for the Bahamas Super-
markets shares ABDAB is

acquiring, since they will be
paid for via a share swap, with
Trans-Island Traders receiving
ABDAB shares in return. This
will likely further strengthen
the Finlayson family’s already
70 per cent majority holding
in ABDAB.

“We have make sure. We
have minority shareholders in
ABDAB, and have to make
sure there’s no question as to
what the value is,” Mr Fin-
layson told Tribune Business.
“That [evaluation] should be
done in the next two weeks.”

Pledging that ABDAB
would “not hold up” on acquir-
ing Trans-Island’s City Mar-
kets stake, Mr Finlayson esti-
mated that the deal would be
completed in that same two-
week timeframe.

“The twist was - and the
Board was very strong on this -
that they insisted if ABDAB
was to become involved with
Bahamas Supermarkets and
‘Trans-Island Traders, that we
should not, and would not, buy
the shares in AML at a $1.50,”
Mr Finlayson said. “Their posi-
tion is that the $1.50 per share
was a big premium based on
the results and the time. We
[Trans-Island] felt it was a pre-
mium, but a premium that was
worth taking.”

ABDAB’s directors, he indi-
cated, had become especially
concerned at AML Foods’ last
results, which showed that
profits for the nine months to
end-October 2010 were
$904,000, compared to $2.887
million the year before. That
former figure was 68 per cent
down on the $2.811 million
generated from continuing
operations the year before.
Third quarter profits were
down 64.1 per cent at $239,000.

Acknowledging that he, too,
had been disappointed with
AML Foods’ financial perfor-
mance, Mr Finlayson said:
“When the results came down
after January 31, I took the
position that we were so far
into it, the top line had not
changed that much, and I did-
mt really feel it would hurt the
transaction from the bottom
line. Having made the $1.50
per share by then, I did not
want to go back on that.”

But, pointing out that most
ABDAB directors came from
financial backgrounds, and that
they were charged with looking
out for all shareholders, Mr
Finlayson said of the directors:
“In their opinion, there was
not enough value in the trans-
action at that [$1.50 per share]
price. Mr father and I, as

‘Trans-Island Traders, decided
to withdraw the bid to buy
AML/’s shares.

“The Board was very clear
to me, and insisted we pursue
plan A, assuming the transac-
tion between the two compa-
nies [ABDAB and Trans-
Island], which is the develop-
ment of these three sites into
City Markets SuperCentres.
They feel that is the best value
for money for ABDAB share-
holders.

“No matter the route for
AML, they did not think we
could come to a reasonable
price, and asked me not to pur-
sue that.”

He added: “I shouldn’t have
been surprised that’ the route
they took; that there’s more
value in this, and it may take a
while longer, but it’s better for
ABDAB shareholders to take
the route of meeting AML
head-to-head, as it will bring
more value to ABDAB share-
holders than at that $1.50
price.”

The three City Markets
SuperCentre sites in question,
the East-West Highway and
JFK Drive/Bethel Avenue in
Nassau, plus the Queen’s
Highway in Freeport, are all
owned by ABDAB. The esti-
mated cost of their redevelop-

BAHAMAS FIRM’S VESSEL SEIZED ON $126K DEBT CLAIM

FROM page one

a lien over the MV Legend II so it can fore-
close upon it and sell the boat to recover the

sums owed to it.

Dean’s Shipping and the MV Legend were
recently in the news over a Customs raid at
Potter’s Cay Dock, which seized 700 cases of
beer, 30 cases of backwoods cigars, 44 pallets
of cement and two pallets of gallon-sized ice
cream buckets. The goods, which were being
off-loaded in the early morning hours, had

not been declared.

There was nothing to suggest Dean’s Ship-
ping or its employees had done anything
wrong. Mario Saunders, assistant general man-
ager of Dean's Shipping, said then that the

company was conducting its own investiga-
tion to determine the facts of the situation.
"Customs has made their decision to seize

the vessel and goods until the investigation is
complete. It will impact us very little, because

we have another vessel, MV Legacy," said Mr

Saunders.

He denied that goods were "off-loading",
claiming the "truck was on the boat”. He could
not verify the origin of the goods or the own-
ers, because the company was in the middle of
its own investigation.

However, Mr Saunders claimed the vessel

cleared Customs at Arawak Cay on Wednes-

day night.

NOTICE OF SALE

DL Properties Ltd. (“the Company”’) invites offers for the purchase
of ALL THAT piece parcel or plot of land called and known as
“Silver Top” containing 0.896 acres or thereabouts situate on Long
Bay Cay or Kamalame Cay being a private island immediately
east of Blanket Sound on the Eastern coast of Andros Island in the
Commonwealth of the Bahamas (the “Property”). There is a fully
furnished 3 bedroom and 3 1/2 bathroom luxury residence located
on the beach of the Property containing approximately 3,100 square
feet of living space and offers 220 feet of beach frontage. Excellent

rental property.

The Company will sell as mortgagee under the power of sale

contained in a legal mortgage of the Property.

TERMS:

Ten percent (10%) of the purchase price at the time of contract and
the balance upon completion within Sixty (60) days of contract.

The Company makes no representations or warranties with respect
to the state of repair of the residence or the Property which is offered
for sale “as is where 1s”.

This sale is subject to a reserve price. The Company reserves the
right to reyect any and all offers.

Interested persons may submit written offers addressed to DL
Properties Ltd., c/o Managing Partner, P. O Box N-272, Nassau,
Bahamas or delivered by hand to Graham Thompson & Co., Sassoon
House, Shirley Street and Victoria Avenue, Nassau, Bahamas to be
received no later than the close of business on the 16° day of March

2011.

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

The MV Legend plies between West Palm
Beach, Marsh Harbour, Green Turtle Cay,
Spanish Wells and Nassau.

ment is around $12 million, the
same sum it would have costs
to pursue AML Foods, and
ABDAB shareholders would
also receive rental income as
well as being invested in City
Markets.

And, while AML Foods
may not happen, Mr Finlayson
said the ABDAB Board had
authorised him to re-open pre-
liminary talks he had held with
Phil’s Food Services and Robin
Hood about potential consoli-
dation with City Markets, and
report back to them if the
response was positive.

Adding that he was not dis-
appointed by the ABDAB
Board’s decision, Mr Finlayson
said he would “pursue with the
same zest” their decision.

“We offered a very good
deal to them,” he added of
AML Foods investors. “From
our standpoint, I think they
will continue to lose value, and
AML will be caught between
ourselves and from all sides.

“Phil’s did $41 million in

sales last year. That’s impres-
sive in 13 months. I’ve never
seen Sandy’s [Robin Hood]
numbers, but he’s said $26 mil-
lion, and I don’t think that was
up to the close of the year.
There’s no question, either,
that Rupert Roberts has stolen
market share from both
Bahamas Supermarkets and
AML in the past. He’s very
sharp, he’s the guy to beat, and
made it clear he’s in for the
fight in the long run.

“T think, unfortunately, that
AML is going to get squeezed,
shareholder value will go down
more and more, and the win-
dow of opportunity for share-
holders to get out will not be
there with ABDAB and
Trans-Island Traders.

“It’s an opportunity lost. If
we had walked away from the
Heineken deal, that’s the kind
of deal AML investors have
missed out on.

“There’s not much future for
the company. That’s my opin-
ion.”

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT 2000
(No. 45 of 2000)
Liquidator’s Statement
Pursuant To Section 138(6) Of
The International Business Companies Act

|, Diane E. Fletcher, Liquidator of FRUITLAND INVEST
LTD. HEREBY CERTIFY that the winding up and dissolu-

tion of FRUITLAND INVEST LTD. has been completed in
accordance with the Articles of Dissolution.

Dated the 25th day of February 2011.



Cable Beach

Golf Club

NOTICE

TO OUR VALUED PATRONS:

Effective March 1, 2011, the
Cable Beach Golf Course will
become a nine (9) hole facility.

This is necessary to facilitate the
West Bay Street realignment.

The construction of the world- class, Jack
Nicklaus Signature Golf Course will
commence in approximately 18 months.

During this period, the Cable Beach
Golf Course will offer 9 and 18-hole
rates, and will also be available for
tournaments and groups.

We apologize for any
inconvenience caused.




PAGE 6B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE





Report: China auto sales
Slow as cities curb use

CONDOS FOR SALE
MIT

NEW 3 bedroom, 2 1/2 bath in 3 story
building. Gated property, granite
countertops, stainless steel appliances.
$229,000.00
$11,000.00 down

2 bedroom, 1 1/2 bath unit in single story
building. Newly refurbished, granite
countertops, stainless steel appliances.
$135,000.00
$6,250.00 down

Bank financing available
Telephone: 325-1408, 325-1325
or 422-4489

COMMONWEALTH OF THE BAHAMAS 2010
IN THE SUPREME COURT CLE/qui/00346
Common Law & Equity Division

IN THE MATTER of ALL THAT piece parcel or
tract of lands situate between the Settlements of We-
myss Bight and Millers on the Island of Eleuthera
one of the Island of the Commonwealth of The Ba-
hamas comprising part of a tract of land known as the
“Bowles Tract” and a part of a tract of land known
as the “Millers Tract” through which runs the Main
Public Road and together containing 2,086.24 acres
more or less and bounded NORTHWARDLY by a
tract of land granted to James Kelly and known as
Gibson Tract EASTWARDLY by the Sea at High Wa-
ter Mark SOUTHWARDLY by a portion of the said
“Millers Tract” and WESTWARDLY by the Main
Public Road and by the Creek and Exuma Sound
which aforesaid parcel of land has such position shape
and dimensions as are shown on the plan recorded in
the Department of Lands and Surveys as No. 957EL.

AND
IN THE MATTER of the Quieting of Titles Act, 1959
AND

IN THE MATTER of The Petition of Eleuthera
Properties Limited
NOTICE OF PETITION

NOTICE IS HEREBY GIVEN that Eleuthera
Properties Limited, a company registered under the
laws of the Commonwealth of The Bahamas and
carrying on business within the said Commonwealth
of The Bahamas, is applying to the Supreme Court
of the Commonwealth of The Bahamas to have
their title investigated determined and declared un-
der the Quieting Titles Act, 1959 (Ch. 393) in re-
spect of the land hereafter described, that is to say:

“ALL THAT piece parcel or tract of lands situate
between the Settlements of Wemyss Bight and Mill-
ers on the Island of Eleuthera one of the Island of
the Commonwealth of The Bahamas comprising
part of a tract of land known as the “Bowles Tract”
and a part of a tract of land known as the “Millers
Tract” through which runs the Main Public Road
and together containing 2,086.24 acres more or less
and bounded NORTHWARDLY by a tract of land
granted to James Kelly and known as Gibson Tract
EASTWARDLY by the Sea at High Water Mark
SOUTHWARDLY by a portion of the said “Mill-
ers Tract” and WESTWARDLY by the Main Pub-
lic Road and by the Creek and Exuma Sound which
aforesaid parcel of land has such position shape and
dimensions as are shown on the plan recorded in the
Department of Lands and Surveys as No. 957EL”

AND TAKE NOTICE that copies of the Petition
and the Plan of the said land may be inspected dur-
ing normal office hours at the following places:

i. Supreme Court Registry, Ansbacher House,
East Street North, New Providence, The
Bahamas.

Sharon Wilson & Co., Chambers, East
Shirley Street, Highland Terrace, New
Providence, The Bahamas.

The Administrator’s Office, Rock Sound,
Eleuthera, The Bahamas.

AND FURTHER TAKE NOTICE that any person
having dower or right to dower, an adverse claim
or a claim not recognized in the Petition shall on or
before the 18th day of April A.D., 2011 file in the
Supreme Court and serve on the Petition or their at-
torney an Adverse Claim in the prescribed form sup-
ported by Affidavit.

FAILURE OF ANY PERSON to file and serve an
Adverse Claim on or before 18th April, A.D., 2011
date will operate as a bar to such claim.

Dated this 14th day of February A.D., 2011

Sharon Wilson & Co.
Chambers, Delvest House
East Shirley Street, Highland Terrace
Nassau, The Bahamas
Attorneys for the Petitioner



SHANGHAI
Associated Press

CHINA'S passenger car
sales slowed in January as
tax breaks for energy-effi-
cient cars lapsed and cities
began tightening curbs on
vehicle use to help combat
traffic congestion and smog,
according to a report Mon-
day.
The Shanghai-based Chi-
na Passenger Car Associa-
tion reported that sales of
passenger cars fell 10.3 per-
cent in January from the
month before to 965,238.
On an annual basis, sales
rose 12.6 percent.

Chinese bought 13.7 mil-
lion passenger vehicles last
year, up by a third from
2009. But that robust
growth is forecast to cool
this year due to the expira-
tion of tax incentives for
some vehicle purchases and
a renewed effort by cities to
bring traffic under control.

"Of course the withdraw-
al of financial incentives
would impact any country's
auto market, and sales did
continue to grow in Janu-
ary, but toward the end of
the month there was a sharp
cooling in sales,” the Pas-
senger Car Association
report said.

It said sales in February
were bound to decline due
to the usual slump follow-
ing the Lunar New Year
holiday, which was longer
than usual.











D

eT

pil |

UTO ACCE

a |

Accessories Commercial Expo in Beijing Saturday, Feb. 26, 2011. (AP)

Rao Da, head of the asso-
ciation, took aim at what he
called a policy of "encour-
aging car purchases, while
restricting car use."

The explosive growth in
Chinese car ownership has
nurtured the rise of the
domestic auto industry, but
left major cities like Beijing
and Shanghai jammed with
traffic and choking on smog.

China's capital has

decreed it will limit new
vehicle registrations to
240,000 this year — just
over a third of those regis-
tered in 2010 — to try to
ease massive traffic jams
that have turned Beijing's

EAN

We ore looking to fill the following posilions with enengelic,
dynamic and team oriented individuals
They ore ovaileble oq both a Part-Time ard FullTene basis






CUSTOMER SERVICE REPRESENTATIVE
/ TEAM LEADER





Apolicatien must include the following:

Employment Application Form,’ Resume

streets into virtual parking
lots.

News that Shanghai
would more strictly enforce
existing restrictions on
vehicles with out-of-town
license plates, often bought
by city residents to avoid
paying exorbitant fees in
monthly auctions, boosted
the average price fora
plate to 44,000 yuan
($6,666) last month, local
reports said.

As of January, the gov-
ernment ended sales tax
rebates and subsidies for
rural buyers, which initially
fueled huge growth in sales
of minivans in the country-
side after they took effect
in 2009. That is expected to
dampen demand in coming
months.

But most auto manufac-
turers are banking on solid
growth in the country’s vast
rural areas and inland cities,
where most families do not
yet own cars and those that
do are keen to trade up.

Foreign manufacturers
are still counting on double-
digit growth in China and
other emerging markets to
compensate for sluggish
sales in their home markets.

SSORIES COMMERCIAL EXPO



General Motors Co.,
which for the first time in
its 102-year history sold
more cars and trucks in Chi-
na last year than it did in
the U.S., reported sales in
China rose 22.3 percent
from a year earlier in Janu-
ary to 268,071.

Ford Motor Co.'s sales
climbed 20 percent, to
53,340 vehicles.

While domestic auto com-
panies are growing quickly,
they have yet to overtake
foreign car makers and their
joint venture partners: Six
of the nine top car manu-
facturers by sales in Janu-
ary, according to the Pas-
senger Car Association,
were joint ventures, led by
GM and its flagship joint
venture with state-owned
Shanghai Automotive
Industrial Corp., Shanghai
GM.

The top sellers among
independent domestic
brands was Chery Automo-
bile, which sold 49,640 vehi-
cles in January. Just behind
was BYD Auto, a battery
maker-turned-car manufac-
turer backed by billionaire
USS. investor Warren Buf-
fet, which sold 49,432.

- Copy of Bohorian Posaperl
Copy of Mational Insurance Board Cord

- Receal [not older than ane year] Police Certificate
Recent Passport Size Photo fcolor}

NO TELEPHONE CALLS, PLEASE

COMMONWEALTH OF THE BAHAMAS
IN THE SUPREME COURT
COMMON LAW AND EQUITY DIVISION

2008

CLE/GEN/01665

IN THE MATTER of the Property comprised in an
Indenture of Mortgage dated the 31* day of October,
A.D. 2000 and made between Kevin Bethel and
Denise Bethel as Borrowers and FirstCaribbean
International Bank (Bahamas) Limited (formerly CIBC
Bahamas Limited)

AND IN THE MATTER of the Conveyancing and Law
of Property Act, Chapter 138 of the Revised Statute
Laws of the Commonwealth of The Bahamas.

BETWEEN

FIRSTCARIBBEAN INTERNATIONAL BANK
(BAHAMAS) LIMITED
(formerly CIBC Bahamas Limited)
Plaintiff
AND

KEVIN BETHEL
AND

DENISE BETHEL
Defendants

NOTICE OF ADJOURNED HEARING

TAKE NOTICE that the Notice of Appointment to
Hear the Originating Summons filed on the 8 day of
December, A.D. 2008 and set down to be heard on
Thursday the 17 day of February, A.D., 2011 at 10:
00 o’clock in the forenoon will now be heard before
the Honourable Justice, Stephen Isaacs, Justice of the
Supreme Court, Senate Building, Parliament Street,
Nassau, The Bahamas on Monday the 4" day of
April, A. D., 2011 at 10:00 o’clock in forenoon.

Dated this 21% day of February, A.D., 2011

REGISTRAR

This Notice was taken out by Messrs. Gibson, Rigby & Co.,
Chambers, Ki-Malex House, Dowdeswell Street, Nassau, The
Bahamas, Attorneys for the Plaintiff.

NOTICE

NOTICE is hereby given that MICHAEL STAPLETON of SWAN
DRIVE, FREEPORT, GRAND BAHAMA, 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
21st day of FEBRUARY, 2011 to the Minister responsible for
Nationality and Citizenship, P.O.Box N-7147, Freeport, Bahamas.

NOTICE

NOTICE is hereby given that JAMES ERTILUS of
ST. JAMES ROAD, P.O. BOX S$S-6582, 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 21** DAY of
FEBRUARY 2011 to the Minister responsible for nationality and
Citizenship, P.O. Box N-7147, Nassau, Bahamas.

SECURITY SYSTEMS

International Limited

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Fax 242-394-3154



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

MONDAY, FEBRUARY 28, 2011, PAGE 7B





30 per cent prices
falls boost real estate

FROM page one

and are more appealing,
and buyers are seeking
more value for their money.
That’s what’s making the
trade,” Mr Damianos
explained.

Much of the price adjust-
ment, he added, had taken
plane in 2009, which he
described as “probably the
worst year” for the Bahami-
an real estate market in
general. “2010 improved a
little bit, and we’re opti-
mistic that 2011 is going to
be at least as good as 2010
or even better,” Mr Dami-
anos added.

“T think in 2010 we all got
better at pricing properties

and understanding the
recession.” While in 2009
many sellers were “still liv-
ing in la la land” and main-
taining prices at pre-reces-
sion levels, Mr Damianos
said many had now realised
that to sell real estate pre-
viously priced at $1 million,
they needed to instead seek
between $650,000-$700,000.
“Sellers are getting more
sensible and realistic in
their pricing,” Mr Dami-
anos told Tribune Business.
“Sellers are coming to grips
with the fact these numbers
are here to stay, and it is
not just a passing phase.
“If we can get some vol-
ume going, everyone will be
happy, and we will get some
Stamp Tax money flowing

into the Treasury, lawyers
will earn some fees, realtors
will earn some fees, and we
will spend more money and
get the economy back.”

Looking forward to the
impact of the $2.6 billion
Baha Mar project, Mr
Damianos told this news-
paper: “I think it will put
pressure on the rental mar-
ket, which will be good, and
it will enable the real estate
market people to invest and
buy to rent out, and get a
positive return on their
prices.

“It can help to shore up
some of the pricing in the
real estate market rentals
and prices. In that first
wave there are probably
going to be construction
and construction-related
people, and I would imag-
ine that the 8,000 Chinese
workers are not going to
have a great impact, but
there will be increased
focus and increased pres-
sure on the rental market.”

Mr Damianos said the
Cable Beach/western New
Providence rental and prop-

Legal Notice

NOTICE

INTERNATIONAL BUSINESS COMPANIES ACT



erty market needed a pro-
ject such as Baha Mar “bad-
ly”, but added that the rel-
atively low amount of avail-
able inventory meant it
would “not take too long”
to fill up.

“One hundred people
will definitely create a lot
of pressure on the rental
market,” Mr Damianos

said. “That’s been our sav-
ing grace during this reces-
sion, and we’ve not over









built like in Florida, where
there’s a lot of empty build-
ings. That’s held us togeth-
er economically as a coun-
try. We just hope the num-
ber of people needing
places are able to pay Cable
Beach market prices.”

Otherwise, they might
move to other areas, and
put pressure on rental
prices being paid by
Bahamians, Mr Damianos
warned.

NOTICE

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
#106, Yuma Estates, 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: 7,485 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
2816”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #2881,
Sir Lynden Pindling Estates, situate in the Southern District
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: 1,148 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, The Bahamas and marked “Tender
2637”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #1601,
Pinewood Gardens Subdivision, situate in the Southern District
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: 1,332 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,
BO. Box N-7549, Nassau, The Bahamas and marked “Tender
0288”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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

Today's Close -
Change - Chang
Vo

(No.45 of 2000)
SOFER INVESTMENTS LTD

In Voluntary liquidation

Notice is hereby given that in accordance with Section
138 of the International Business Companies Act (No.
45 of 2000) SOFER INVESTMENTS LTD, has been
dissolved and struck off the Register according to
the Certificate of Dissolution issued by the Registrar

General on the 17th day of December, 2010.

Luis Maria Pineyrua Pittaluga
Zonamerica
Ruta 8 - km 17.500
Local 115A
C.P. 91.600
Montevideo - URUGUAY
Liquidator

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 being Lot #152,
Garden Hills Subdivision, situated in the Southern of New
Providence, one of the islands of the Commonwealth of The
Bahamas. Situated thereon is a Single Family Residence
consisting of 4 bedrooms and 2 bathrooms.

Property Size: 6,717 sq. ft.
Building Size: 2,205 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
4045”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

ROYAL FIDELITY

Moray at Werk

RBC FINCO INVITES TENDERS
RBC FINCO invites tenders for the purchase of the following:

“ALL THAT” piece parcel or lot of land comprising Lot
East of Highland Park 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 Residence consisting of 3 bedrooms and 3 bathrooms.

Property Size: 8,100 sq. ft.
Building Size: 2,408 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
3082”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

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 #27.
Snow View Subdivision, situated in the Western of New
Providence, one of the Islands of The Commonwealth of The
Bahamas. Situated thereon is a Duplex consisting of 2-2
bedroom and 1 bathroom.

Property Size: 5,946 sq. ft.
Building Size: 1,344 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,
PO. Box N-7549, Nassau, The Bahamas and marked “Tender
0127”. All offers must be received by the close of business
4:00pm, Friday, 4th March, 2011.

EJ FG CAPITAL MARKETS
Sf BROKERAGE = SERVICES

clear ca Ww 7 A TT.

BISX LISTED & TRADED SECURITIES AS OF:
FRIDAY, 25 FEBURARY 2011
BISX ALL SHARE INDEX: CLOSE 1,465.04 | CHG 0.07 | %CHG 0.00 | YTD -34.47 | YTD % -2.30
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

Securit
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
Finco
FirstCaribbean Bank
Focol (S)
Focol Class B Preference
ICD Utilities
J. S. Johnson
Premier Real Estate

Previous Close Today's Close

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

Securit mbol
Bahamas Note 6.95 (2029)
Fidelity Bank Note 17 (Series A) +
Fidelity Bank Note 22 (Series B) +
Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

FBB17
FBB22
FBB13
FBB15

Symbol
Bahamas Supermarkets “NIA
RND Holdings

ABDAB
RND Holdings 0.45

Fund Name

CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund

2.8522 Royal Fidelity Bahamas G & | Fund
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund

99.4177 CFAL Global Equity Fund

1.0000 FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund

vestment Fund Principal

1.4076
2.8300
1.5141

1.0000
1.0000
9.1005

10.0000

10.1266
8.4510

RoyalFidelity Merchant Bank & Trust! Ftd: (Over-The-Counter Securities)
id $ ail

Last Sale Change Daily Vol
0.00 * Yo 20 November 2029

100.00 0.00 y 19 October 2017
100.00 0.00 Prime + 1.75% 19 October 2022
100.00 0.00 7% 30 May 2013
100.00 0.00 Prime + 1.75% 29 May 2015

Last Price EPS $ Div $
“NA

le AN oO. 55
CFAL Seennies Ltd. (Over-the-counter Securities)
30.13 9.00

oie ‘oes

BISX Listed Mutual Funds
YTD%

1.498004
2.918697

1.564030 1.545071

109.392860
100.779540

107.570619
105.776543

31-Dec-10

30-Nov-10

30-Nov-10

31-Jan-11
31-Jan-11

MARKET TERMS

Ask $ - Selling

ted price for daily volume
nted price for daily volume
rom day to day

tr

Last Price - La:
Weekly Vol. - Tradi

volume of the prior week
eported earnings per share for the last 12 mths

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

Stock Split - Effective Date 8/8/2007

(S1) - 3-for-1 Stock Split - Effective Date 7/11/2007
To

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


PAGE 8B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



Concerns Commission acted ‘outsite powers’































































APD Limited

APD Limited is in the process of Prequalifying contractors in connection with the design
and construction of their proposed Inland Container Terminal on Gladstone Road. This
project will be procured on a design/build basis.

The Prequalification documents can be accessed by logging onto:

ftp://dhpftp.aotbahamas.com
username: apditd
password: apd1234

The documents must be completed and returned by Spm Friday, March 4"", 2011
electronically to:

pow @dhpassociates.com
or rroker@dhpassociates.com

or by hand to:
APD Limited
House of Mosko
Bay Street
Nassau, Bahamas

The selected design/build entities will be provided with Requests for Proposals on
Friday, March 7", 2011.

Please be advised that only Bahamian registered firms will be considered.

Tenderers who have previously responded to Prequalification documents in this
connection are advised to review the documents as now posted and revise their
submission if they so desire.

ot OW, "y
Oo 4
&
= ‘-
A
< Wh

& MUSEUMS CORPORATION

FROM page one

pension. “I didn’t see it
achieving anything, to be
honest with you. It hurt the
smaller investor, and would
not stop us talking to any-
one behind the scenes. As
long as we stayed behind
the scenes, we could talk to
anybody we wanted to.”

Once his hostile bid had
formally launched via a Bid
Circular, Mr Finlayson said
the Securities Commission
would have removed the
AML Foods share suspen-
sion, and added: “It did not
hurt us in any way. It hurt
the small guy trying to use
the shares as security for a
loan, or who wanted to sell
the shares to get liquidity
now because he had no con-
fidence this transaction was
going to move forward. The
Commission should have
been very careful about
this.”

Mr Finlayson also sug-
gested the Securities Com-
mission should have looked
into AML Foods’ alleged
failure to disclose the exis-
tence of a potential bid for
the food retail group when
publicly announcing its
share buy back programme
in January.

Suggesting the buy back
was a direct response to his
impending ‘hostile
takeover’, with AML Foods
management and existence
aware it was coming, Mr
Finlayson said that on
Christmas Eve he had
agreed with one of the
BISX-listed company’s larg-
er shareholders to buy their
shares at $1.86 per share.

The larger shareholder,
he then indicated, became
concerned about leaving
minority shareholders
behind, and urged Mr Fin-
layson to make an offer
that took account of all
AML investors. Mr Fin-

not Wart TS

layson said he was travel-
ling to New York in early
January, aware that AML
Foods had a Board meet-
ing, and that Board mem-
bers knew a $1.86 offer had
been made to some share-
holders and “was off the
table”.

Emphasising that he was
“sure there was nothing sin-
ister”, Mr Finlayson ques-
tioned AML Foods’ failure
to release details of his
impending offer with the
share buy back announce-
ment. He said he was then
advised by his legal adviser,
Senator Jerome Fitzgerald,
to release details of his
‘hostile’ bid to make it clear
exactly the terms he was
offering, and to ensure
there were no suspicions of
insider dealing.

“We mentioned it to the
Commission,” Mr Finlayson
said. “In my opinion, what
the Commission should
have been doing was focus-
ing on the existing law, and
making sure that was com-
plied with. They should
have given us a stamp of
approval on this thing,
cleared the AML Board,
and applied the existing
law.

“The Commission meant
well, but took some really
bad decisions on this thing.
They took a long time to
act. They were more pan-
icked moves than the cor-
rect moves. The Commis-
sion, out of this transaction,
has to go back and evalu-
ate themselves.

“Tf they are going to push
forward this Bill to change
the legislation, they should
do, and focus on that and
the existing law.

“They should not try to
push these guidelines as
existing law. This is where
they crossed the line and,
as a result, ended up hurt-
ing the AML small share-
holder.”

KINGSWAY ACADEMY SCHOLARSHIP

Director Required

The Antiquities, Monuments and Museum Board of The National Museum of The
Bahamas, a statutory body (wwww.ammecbahamas.com) established in 1998 is
seeking a Director to lead the institution.

The Director will be responsible for the fulfillment of the institution's Mission
Statement. This will include:

* Refining and implementing a Strategic Plan jointly developed with the Board
* Financial planning and management, and the tactical generation of revenue.
* General administration and development of the staff.

Requirements:
* [Master's Degree or equivalent in Business Administration.
* 5-7 years’ experience in Corporate Management.
* Experience in personnel management, financial management and
fundraising.
* Interest in Heritage Studies would be an asset

Skills:
* Excellent verbal, written, and people skills.
* Highly organized self-starter.

Salary:
* Commensurate with experience

Applications should be delivered to the:
Chairman
Antiquities, Monuments and Museum Corporation
P.0.Box EE-15082
Shirley Street & Collins Avenue
Nassau Bahamas
Or Fax (242) 326-2568
and should be received at the office on or before 1 April 2011. Telephone
contacts are:

(242-326-2566)
(242-325-1928)

ANNOUNCEMENT

Kingsway Academy, a leading Bahamian (K-12) school with a
reputation for excellence in academics, athletics and the arts; a
commitment to Christian values; and a strong tradition of public
service, is inviting public school students entering Grade 10 in
September 2011 to apply for 2 (two) prestigious 3-year scholarships.

(A) The Grace Tatham Kemp Scholarship

Named in honour of Kingsway’s founder, Mrs. Grace Tatham Kemp. This
scholarship is for a well-rounded student with proven, strong academic
performance.

(B) The Ned Wallace Sports Scholarship

Named in honour of one of Kingsway’s earliest building contractors and
a former member of the Board, Mr. Ned Wallace. This scholarship is for a
well-rounded student with proven, strong academic and sports performance.

Interested students should submit:

* Completed Kingsway High School Application Form, available at the
Kingsway High School Office or may be downloaded from the school’s
website www.kingswayacademy.com. Click on Document Downloads.

¢ Recommendation letter from your school’s Principal

* Recommendation letter from your school’s Coach if applying for the
sports scholarship

¢ Personal statement sharing your school, church and community
involvement, as well as your plans for the future.

* Transcript of your last 3 (three) academic years (Grades 7, 8 and 9 to
date). Transcripts will only be considered valid if they are submitted in
your school’s sealed envelop.

Note: Short-listed candidates will be invited to sit the scholarship
examination and appear at an interview.

Deadline: Complete application package should be received
by 4:00 p.m. at the High School Desk in the Administration
Building by March 7*, 2011

Enter to be Trained in the King’s Way. Exit to be the
Difference



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

PROFESSIONAL ARCHITECTS BOARD
LICENSED ARCHITECTURAL TECHNICIANS PROFESSIONAL ARCHITECTS ACT, 1994

Public Noten is hereby given that ihe persons listed hesrunder are licensed by he "Pralessiona
4rchifects Board” ta practice as Professional Archiactural Technics” until 31 January 2012.

HAME

Lec A. Mid esr

Henry A. Debary

Michael A. Jared

Roscoe A. Saunders-Kemp

Laurin L. Knicevies

Ryan A, Anchen
B. Sc. Arch. Tach.

a

C, Jenkin Wiliams

Lockhart W.. Tumquest

Roland S. Bevans

Caray T. Adderley

B. Arch.

Jermaine H. Evans

Trevor A. Bulberlield

Brent H. Kay

REGISTRAR

14" Februery 2011

ADDRESS LICENCE #
Phone (242) 226-8141 TOS

P.O. Box 6585

Nascau, Bahamas

Prone (242) 334-0456
Wiemyes Bight,
Eleuthera

Prone (242) 227-2871
P.O. Box SP 61305
Nateau, Baharia

Prone (242) 325-2478
P.O. Box F 40530
Freeport, Grand Bahama

Phone (242) 225-1706
Mangrove Buen
Long tsland

Prone (242) 367-2001
P.O. Bow 578
Marsh Harbour, Abaco

Phone (242) 352-2500
Po, Bow F 44107
Freeport, Grand Bahama

Phone (242) 337-1086
P.O. Bow GG aoe?
Gray's, Long bane

Prone (242) 259-6415
P.O. Box F 40208
Freeport, Grand Bahama

Phone (242) 241-1247
P.O. Bax GT-2975
Nassau, Bahamas

Phone (242) 646-3807
P.O. Bax F R028
Freeport, Grand Baharia

Prone (242) 251-8016
P.O. Bax F 44042
Freeaparl Grand Bahama

Prone (242) 267-4143
P.O. Box AB-20702
Maren Harbour, Abaoo

PUBLIC NOTICE
PROFESSIONAL ARCHITECTS BOARD LICENSED ARCHITECTS

Commonwealth of The Bahamas
Established by Act of Parliament 1994
P.O. Box CB-15040, 143 Nassau Street — Nassau, Bahamas

Public Notice is hereby given that the following Architectural Technicans are hereby remowed trom the
Ragisiar of the "Professional Architects Board Licanced Architactural Technicians effectha 14° February

17

NAME

Charles Pl Taylor

Hartley &. Tacenpeaon

AlGean ®. Campbell

REGISTRAR

a" Rabruary 2077

KPMG

culty fhrough conptaiety ~

ADDRESS LICENCE NO.

Phone Mo (242) 290-5605
P.O. Boe SS 419
Nassau, Bahamas

Phone (Mo) 373-1872
P.O. Bow F 42581
Fraapat, Grand Barer

Phone Me. (202) JS2-5127
Phone Mo. (242) J61-5675
Fiaapet, Grand Baboeeru

Phone Mio. (242) 2721959
P.O. Bee F 60141
Freeport, Grad Rear



& global leader in audit, tax and advisory services

Weare correnthy seeking a Junler Associate for our Advisory Services team, focusing om Corporate

Firmance and Transaction Services

Key job functions and reeponsibilities imclude:

act tt ct te & &

Performance of chant dua diligence.

Maintaining diam Ties in accordance with KPMG guidalinas.

Anaheis and reconciliations of Sirancial date im Exo

Preparation of financial mode

Preparation of PowerPont presentatone in eocordance with KPtats quideinag

Preparation of charts, graphs snd tables in Excel in accordance with KPMG guidelines
Wiaintaining Giant transaction amd marketing datnhame.

fwlaintairing and chee oping market rasnernc® and muairy mesnerch date,
Providing support in aencistes, managers, and perinarm on aeegqnmante

The Junior Associate is eapeoted to hire the following qualifications and aroibutes:

‘iactktt & &

4 Bacholor's degree in aooounting. Timnod of economics

1-2 years work experience in the lineal services sector is prefarable

Strong writing and Excel financial modeling skis are eeserviial.

Strang PowverPoing and Woed skills eee important

Ereolinert ins professions! qual@scstion program such ss CHW, CFO or CPA is chesicptile
Highh: motveted wath the soility to handle a demanding business environment.

KPMG offers compatitive salaries and ampeloyes benefits induding a medial and pension plan



Anpliqinte pha guint a cower igtter, repens, 8 oc of their trangoipte, and a copy of tees peotosional
cemfication by Friday, March 11, 2097 to: Huran Resources Manager, KPMG, P.O. Bo W123, Mase,

Bahenaes or frbaturar = korg. pen

AUDIT « TAX « ADVISORY

Be 2 dee per ee ee es te Oe eee od eve eee ee ee oe ee Cee Oe ree lee er, Ad ps

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

THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 13B



Japanese stocks
on the rise again

NEW YORK
Associated Press

JAPANESE stocks have
disappointed investors
since 1990. No longer.

Japan's Nikkei 225 index
has climbed 15 percent
since Nov. 1.

The increase means
Japanese stocks have done
better over the past four
months than they have in
17 of the last 21 calendar
years.

They are also beating
the major indexes in the
U.S. and other countries.

It's new ground for the
Nikkei 225, which has
done worse than U.S.
stocks in all but four years
over the past two decades.

Even with the gains, the
Japanese index is still 73
percent below its peak, set
on Dec. 29, 1989.

"IT don't think this is just
a One-time event," said
Taizo Ishida, a portfolio
manager who runs the
$76.6 million Matthews
Japan Fund and the $340.4
million Matthews Asia
Pacific Fund.

"I'm not bold enough to
say this time is different,
but it may be. The next 10
years won't be like the
1980s, but it will be up."

To be sure, Ishida said
investing in Japan can
appear daunting to some-
one looking at Japan's
demographic or economic
data.

Its population is aging,
and Standard & Poor's last
month downgraded its
credit rating. Last year,
Japan ceded the title of
world's No. 2 economy to

China.

But Ishida said Japanese
corporate executives he
talks with now are focused
on growth, when a few
years ago they cared more
about keeping employ-
ment steady.

Among other reasons to
be optimistic:

Price: Japanese stocks
are some of the world's
cheapest, when measured
against their book values.

A company's book val-
ue shows how much it is
worth after subtracting its
debt and other liabilities
from its assets.

A lower price-to-book
ratio indicates investors
are getting ownership of
the company's assets more
cheaply. Japanese stocks
at the end of January trad-
ed at an average of 1.2
times their book value,
according to investment
analysis company MSCI.

That's nearly 50 percent
cheaper than U.S. stocks,
which traded at 2.3 times
their book value.

Japanese stocks don't
look that cheap when mea-
sured against their profits:
They trade at an average
of 17 times their earnings
over the prior year, about
the same as U.S. stocks.
But that's much cheaper
than their average price-
earnings ratio over the past
20 years, of 27 times.

"People are saying,
‘Wow, this might be too
cheap for the type of
growth we might be see-
ing,’" said Deborah
Medenica, who runs the

NOTICE is hereby given that MELAINE FRANCOIS of
HOPE TOWN, ABACO 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 28' day of February, 2011 to the Minister responsible
for nationality and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) PENCREST LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 11th day of February, A.D., 2011 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

East Bay St.

C.B. Strategy Ltd.
LIQUIDATOR



NOTICE

Pursuant to the provisions of Section 137 (4) (a), (b)
and (c) of the International Business Companies Act,
2000, notice is hereby given that: -

(a) DOTLEAN INC. is in dissolution;

(b) The date of commencement of the dissolution
is the 16th day of February, A.D., 2011 and

(c) the Liquidator is C.B. Strategy Ltd., of 308

East Bay St.

C.B. Strategy Ltd.
LIQUIDATOR



Alger Emerging Markets
Fund, which launched at
the end of last year.

Economic strength:
Economies are strength-
ening around the world.
Deutsche Bank earlier this
month raised its forecast
for full-year 2011 U.S. eco-
nomic growth to 4.3 per-
cent from 3.3 percent.
Investors can benefit from
stronger-than-expected
U.S. growth in several
ways, but "Japan is the
best way," Credit Suisse
strategists wrote in a
recent report.

U.S. stocks may seem
like the logical way, but
Japanese companies that
export to the U.S. will also
benefit from stronger U.S.
spending.

And the Japanese stocks
are cheaper than U.S.
ones.

Japanese exporters also
benefit from strong growth
across Asia.

Four of Japan's top five
export markets are in Asia,
including No. 1 China.

Trade to such countries
means Japanese companies
can sell their products in
yen more often, Ishida
said.

That shields them from
the yen's strength against
the dollar: A stronger yen
makes Japanese-made cars
and cameras more expen-
sive to customers paying in
dollars.

Safety: Stock markets in
China, India and other
developing countries have
sunk in recent months on
worries that inflation will
hurt growth.

Protests in the Middle
East have also highlighted
the risks of investing in
emerging markets.

That has pushed
investors to yank money
out of emerging market
stock funds.

In search of safety, many
have turned to Japanese
and other developed mar-
Ket stock funds. Investors
poured more new money
into Japanese stock funds
during the week through
Feb. 16 than in any other
week in nearly four years,
according to fund-tracker
EPFR Global.

Consider Toshiba Corp.,
a maker of everything
from nuclear reactors to
televisions to vacuum
cleaners. Its stock dropped
80 percent between the
end of 1989 and early 2009.

But it said earlier this
month that strong growth
in China helped it toa
profit of 12.4 billion yen
($152.7 million) last quar-
ter, reversing a loss of 10.6
billion yen from a year ear-
lier. Its stock has climbed
31 percent since Nov. 1.

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.




PAGE 16B, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



eae INES eee
Warren Buffett remains optimistic about US future

OMAHA, Neb.
Associated Press

BILLIONAIRE Warren Buffett
wants Americans to be optimistic
about the country's future but wary
about borrowing money and the
games public companies play with
profit numbers they report.

Buffett said in his annual letter
to Berkshire Hathaway sharehold-
ers Saturday that he still believes
America's best days are ahead.

"Commentators today often talk
of 'great uncertainty.’ But think
back, for example, to December 6,
1941, October 18, 1987 and Sep-
tember 10, 2001," Buffett wrote,
referring to the days before the
Pearl Harbor attack, a stock market
crash and terrorist attacks in the
US. "No matter how serene today



may be, tomorrow is always uncer-
tain. Don't let that reality spook
you."

He said a housing recovery will
likely begin within the next year,
which would help the economy and
several Berkshire subsidiaries,
including ones that make carpets
and bricks.

Buffett's letter detailed how the
acquisition of Burlington Northern
Santa Fe railroad, better results at
Berkshire's other subsidiaries and a
$1.9 billion paper gain on invest-
ments and derivatives combined to
boost the company's net income by
61 percent to $12.97 billion on rev-
enue of $136.2 billion in 2010.

The letter was full of good news
for Berkshire investors because
nearly all of its businesses, except
the ones linked to housing, per-

formed well, said Glenn Tongue, a
managing partner at T2Partners
investment firm.

"I think his tone in this letter was
more optimistic than usual — both
about the economy and the busi-
ness," Tongue said.

Buffett also devoted part of his
message to educating investors on
key business principles. Buffett said
the financial crisis of 2008 confirmed
the dangers of investing with bor-
rowed money because even a short
absence of credit can ruin a com-
pany.

"When leverage works, it magni-
fies your gains. Your spouse thinks
you're clever, and your neighbors
get envious. But leverage is addic-
tive,” Buffett said. "Once having
profited from its wonders, very few
people retreat to more conserva-

REGISTER OF PROFESSIONAL ENGINEERS

AS OF 247TH FEBRUARY, 2011





tive practices."

That's part of why Berkshire
always keeps at least $20 billion cash
on hand for unforeseen events or
investment opportunities, he said.
At the end of 2010, its cash reserve
totaled $38 billion.

Buffett urged investors not to
focus on the net income figures that
companies report because they are
easily manipulated through account-
ing tricks or by selling investments.
He said Berkshire's net income can
be particularly misleading because
of the large amount of unrealized
investment gains or losses the com-
pany holds at any given time.

He said that regardless of Berk-
shire's performance, it could easily
and legally “cause net income in
any given period to be almost any
number we would like."

Professional Engineers Board

Commonwealth of The Bahamas

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Buffett also offered Berkshire
shareholders few new details about
how the company would function
once he is no longer running it.

The 80-year-old chairman and
CEO of Berkshire said that invest-
ment manager Todd Combs will
manage $1 billion to $3 billion of
Berkshire's $158 billion investment
portfolio. Berkshire hired Combs
last fall, and Buffett says Combs has
the risk aversion, dedication and
track record he wants in an invest-
ment manager.

To replace Buffett, Berkshire
plans to split his job into three parts
— chief executive officer, chairman
and several investment managers.
Buffett, however, has indicated that
he has no plans to retire, and he
says he loves his work and remains
in good health.

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LATEST NEWS ON WWW.TRIBUNE242.COM



MONDAY, FEBRUARY 28, 2011



Oil price sparks
fuel cost fears

Retailers call on
covt for relief

By MEGAN REYNOLDS being priced out of the mar-

Tribune Staff Reporter ket.

mreynolds@tribunemedia.net Retailers are restricted to
taking 44 cents for every gal-

PETROLEUM retailers
losing out on the rising cost
of fuel are calling on the
government to give them
some relief as they fear fur-
ther rises in fuel prices will
put them out of business.

A group of 18 retailers,
braced for the impact a hefty
rise in the cost of crude oil
will have on their businesses,
have written to the Ministry
of Finance in anticipation of

lon of gasoline they sell, and
19 cents per gallon of diesel,
regardless of the price they
pay for fuel, and want the
government to ease restric-
tions before they are driven
out of business.

Oil prices stabilised on
Friday after unrest in the
Middle East drove the price
of crude oil to more than

SEE page 13

CLARIFICATION

THE Tribune would like to clarify that Patrick Terrence
Robinson is not a PLP “webmaster”, nor is he affiliated with

that party in any way.

Both Mr Robinson and a PLP webmaster took separate
videos of Wednesday’s anti-PLP demonstration.

He was wrongly confused with the webmaster after a PLP
operative, without identifying himself as such, approached Mr
Robinson about posting his video on the internet.

Mr Robinson said he had no idea how his video was going to
be used, and has distanced himself from any comments attached
to versions of the video appearing on various websites.







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MAN SHOT DEAD
AFTER RESISTING
ARMED ROBBERS

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

VICTIMS of armed rob-
bers are urged not to with-
hold their possessions follow-
ing the fatal shooting of a 27-
year-old man.

According to police, a
Domingo Heights resident
became the country’s 17th
murder after he resisted two
masked armed men who
entered his home demanding
cash. The robbers were armed
with a shotgun and a hand-
gun.

Police spokeswoman Sgt
Chrislyn Skippings said: “Per-

SEE page three



FOR its second year, the ‘Empty Bowls’ event gave members of the public the chance to buy unique art - a ceramic bowl - and tasty soup, while
being entertained by ceramic art techniques, musical and dance performances. The proceeds will go to local charities to feed the hungry. The
afternoon of family fun, food, art and entertainment was held yesterday at the Sheraton.

‘VISIBLE CHANGES’ TO CARMICHAEL
ROAD SHANTY TOWNS IN NEXT YEAR

By NOELLE NICOLLS
Tribune Staff Reporter

nnicolls@tribunemedia.net

GOVERNMENT offi-
cials project the public will
see visible changes to
Carmichael Road shanty
towns in the next year.

Brensil Rolle, Garden
Hills Member of Parlia-
ment and Parliamentary
Secretary in the Ministry
of Housing, said the work
of transforming shanty
towns located on govern-
ment property has already
begun. He said the gov-

ernment is using a system-
atic approach to dealing
with the problem.

“Our intention is to
make the community a
clear and properly devel-
oped subdivision. One
year from now there ought
not to be squatters (in
Pride Estates). The shanty
towns there should be
gone and in its place there
should be a beautiful sub-
division with all the ameni-
ties that are in any regu-
lar subdivision. That is our

SEE page 13

NEW TERMINAL ‘WILL HAVE IMMEDIATE
IMPACT’ ON THE TOURISM INDUSTRY

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

THE opening of the new
US departures terminal at
the redeveloped Lynden Pin-
dling Airport will have an
“immediate impact” on the
growth and development of
the tourism industry, said
Robert Sands, former presi-
dent of the Bahamas Hotel
Association (BHA) and
senior vice president of
administration and external
affairs at Baha Mar.

“From Baha Mar’s per-
spective we congratulate the

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER



Nassau Airport Develop-
ment (NAD) for the fabu-
lous US departures terminal.
We believe it will certainly
go a long way in the visitor
experience. It will comple-
ment the product improve-
ments happening in the
country with Kerzner, Baha
Mar, the Corridor 7 road
linking Thompson Boulevard
to the rerouted West Bay
Street” said Mr Sands.
Baha Mar, the BHA and
Kerzner International have
jointly lobbied the govern-
ment on the issue of the air-

SEE page two
PAGE 2, MONDAY, FEBRUARY 28, 2011

LOCAL NEWS



FROM page one

port over the years. The
industry groups share the
view that a state of the art air-
port is an “important ingre-
dient” for tourism success.
One of the airport’s notable
critics has been Sol Kerzner,
chief executive officer of
Kerzner International. Dur-
ing the launch of phase three
of the Atlantis Resort he
called the airport one of the
world’s worst and said it was
totally out of step with the
top-end nature of the
Bahamian tourism product.
The official opening cere-
mony of the LPIA redevel-
opment phase one was held
on Friday. The estimated cost
of phase one was $190.8mil-
lion. Phases two and three
have already received Cabi-
net approval. Prime Minister
Hubert Ingraham estimated
their cost at $138.3million and

NEW TERMINAL ‘WILL
HAVE IMMEDIATE
IMPACT’ ON THE

TOURISM INDUSTRY

$71.98million, respectively.

“Infrastructurally the
Bahamas is transforming
itself; repositioning itself to
take advantage of tourism in
the future. I think it augurs
well. It was a job well done. A
first class facility and all
Bahamians can be very
proud,” said Mr Sands.

“T think it will make an
immediate impact. You cer-
tainly had a facility that was
highly criticised. You now
have one that is totally trans-
formed, in this phase. As we
complete additional phases it
will only enhance the reputa-
tion of the Bahamas as a seri-
ous player in tourism industry
in this hemisphere,” he said.

Reverend Joseph Pratt

19th November 1934 - 28th February 2008

We really miss you daddy and wish every day
that you were still here with us,
but we rest assured that your soul is in the
hands of God and you are at peace, —

On ee



THE TRIBUNE



























oat .
An

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and Laser/Mailboat

* Earn miles on American Ainlines when
shipping with Laser /MailBoat

* Miles are awarded based on the cost of the
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 3



LOCAL NEWS

BEC union, executive management
negotiations ‘improve’ after meetings

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

NEGOTIATIONS
between the Bahamas Elec-
trical Utility Managerial
Union and Bahamas Elec-
tricity Corporation's execu-
tive management have
improved following last
week’s “cordial” meetings.

Both groups acknowl-
edged the progress made by
negotiating teams so far, and
expressed their confidence
that conditions would not
deteriorate.

Michael Moss, BEC
chairman, said: “We had
two cordial meetings
between the negotiation
teams, further meetings are
planned during the course

MAN SHOT DEAD AFTER
RESISTING ARMED ROBBERS

FROM page one

sons who may be confronted by armed men or robbers,
we’re asking them to comply with the request. Try to
remain calm, try to get as much description as you pos-

sibly can from the culprit.”

The victim was discovered lying face down inside
his apartment shortly after 10pm on Saturday. He was
wearing a yellow T-shirt and denim shorts. The man’s
identity has not yet been released by police, however it
is believed he was a phone card vendor of Haitian

descent.

As police investigations continue, victims are urged
to fully scrutinise their assailant; looking for any scars
or markings on their arms, face, and neck, in addition
to clothing, height and physical build.

Sgt Skippings said: “Anything that can assist the
police in bringing the matter to a closure, for us to
apprehend the culprit. Don’t try to fight back. Exercise
safety and preserve your life, valuables can always be

replaced.”

She added: “We want to appeal to residents, they
have been doing a tremendous job of calling in refer-
ence to firearms and drugs. Please continue to assist us
in our effort to create a safer Bahamas.”

Anyone with any information which may assist police
investigations should call 911, 919 or call Crime Stop-
pers anonymously on 328-TIPS (8477).

EMOTIONAL SCENES after Saturday’s shooting.
Tim Clarke/Tribune staff

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a

Progress acknowledged by both teams

of this week. We are hope-
fully, based on the cordial
nature of the discussions so
far, that we will come to a
satisfactory agreement.”

Ervin Dean, union presi-
dent, said: “The numbers
are not as offensive as they
were last week. The discus-
sions have been very cordial
and it appears that they are
more willing now to come
and resolve these things.
We'll just go though and see
what happens.”

Mr Dean said BEC’s
executive management team
were due to present their
calculations after the bodies
discussed figures at their last
meeting on Thursday.

Ny See ty Fabric Pe rT

More than 80 per cent of
the Bahamas Electrical Util-
ity Managerial Union voted
to strike on February 18.

The union filed a strike
request with the Ministry of
Labour earlier this month
due to the stand-off over
negotiations for a new
industrial agreement and
salary increases.

In a statement last week,
the corporation sought to
defend its previous offer, a
draft agreement to the union
covering the initial, expired,
three-year period.

The statement read: “The
draft agreement provides for
lump sum payments to be
made to union members in

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respect of each of the
expired years, in addition to
the increment payments
union members would have
already received. The inten-
tion is for salary adjustments
to be provided for in the sec-
ond, three-year agreement.”
The statement also noted
that managers received
annual increases of approx-
imately three per cent, by
way of salary increments,
despite the corporation’s
recent history of losses
totalling almost $76 million
over a five-year period and
the recent tariff increase
imposed on consumers.
BEUMU's last industrial
agreement with the utility



























——

0-75 ¢.

a eR sl Et)

company expired on Sep-
tember 30, 2007. According
to Mr Dean, a clause in the
agreement, article 47, dic-
tates that the old agreement
will stand until a new con-
tract is signed.

Last week, Mr Dean
warned that if the next
scheduled meeting did not
go in their favour the union
may have to withdraw
labour.

In an interview with The
Tribune earlier this month,
Mr Dean said that due to
his union's small numbers —
about 100 members com-
pared to the 1,000 line staff
union — BEC's executive
management is "more afraid
of the workers resorting to
industrial action and cutting
out the lights" than strike

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Speaking to The Tribune
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THE TRIBUNE





CASE law suggests that at
Privy Council level, the govern-
ment would be exceeding its con-
stitutional powers if it grants
three-year exclusivity to Cable
& Wireless for providing mobile
service, claims Fox Hill MP Fred
Mitchell.

In a letter to the Utilities Reg-
ulation & Competition Authori-
ty (URCA), Mr Mitchell urged
the regulatory body not to grant
approval for the sale of BTC.

He said if it did, the action
would make the organisation
party to “an unconstitutional
result”.

“At best, before making a
decision, it should require the
applicants to address the ques-
tion as to whether or not the
exclusivity arrangement offends
the constitution,” he said.

The MP asserts there is no evi-
dence to show the change in con-
trol of the company will result
in greater benefits for consumers.

“The reputation of the pro-
posed new owners suggests quite
the contrary,” said Mr Mitchell.

“T assert further that the
change in control will not mean a
lessening of prices for consumers,
but will mean quite the opposite.
There is no evidence to suggest
in the Caricom region where
Cable and Wireless also oper-
ates that the prices to consumers
are any less than the prices that






FOX HILL MP Fred Mitchell has
spoken out against the sale of BTC.

Bahamians now pay. This pro-
posed change of control is there-
fore not in the public interest.”

Mr Mitchell said there should
be public hearings to enable the
optimum ability for representa-
tions to be made for or against
approval.

On Friday, BTC workers
protested outside of URCA
offices calling for "foreign" CEO
Usman Saadat to "leave the
country" because of his former
ties with Cable & Wireless.

The demonstrators, about 30
to 40 members of BTC's two
unions, carried placards which
read "URCA cannot be trust-

Vision of the Glorious Man

Daniel 10:1-9

In the third year of Cyrus king of Persia a
message was revealed to Daniel, whose name was
called Belteshazzar. The message was true, but the
appointed time was long:[a] and he understood
the message, and had understanding of the vi-
sion. In those days |, Daniel, was mourning three
full weeks. | ate no pleasant food, no meat or wine
came into my mouth, nor did | anoint myself at all,
till three whole weeks were fulfilled.Now on the
twenty-fourth day of the first month, as | was by
the side of the great river, that is, the Tigris,[b] |
lifted my eyes and looked, and behold, a certain
man clothed in linen, whose waist was girded with
gold of Uphaz! His body was like beryl, his face like
the appearance of lightning, his eyes like torches
of fire, his arms and feet like burnished bronze in
color, and the sound of his words like the voice of a
multitude. And 1, Daniel, alone saw the vision, forthe
men who were with me did not see the vision; but a
great terror fell upon them, so that they fled to hide
themselves. Therefore | was left alone when | saw this
great vision, and no strength remained in me; for
my vigor was turned to frailty in me, and | retained
no strength.Yet | heard the sound of his words;
and while | heard the sound of his words | was ina
deep sleep on my face, with my face to the ground.




























LOCAL NEWS

Three-year Cable & Wireless
exclusivity for mobile service
‘would be unconstitutional’

ed" and "URCA got to go." The
group marched on the sidewalk
outside URCA's East Bay Street
office, sang, some waved
Bahamian flags and chanted
"Usman got to go".

They demonstrated because
of Mr Saadat's “conflict of inter-
est" — he is a former C&W exec-
utive who left the company in
2008 — said union leaders. They
argued that the regulator's scruti-
ny of the sale will be "flawed"
due to Mr Saadat's history with
the company.

Union heads want the gov-
ernment to create a new inde-
pendent body to scrutinise the
sale of BTC to Cable & Wire-
less, arguing that employees at
the current regulator have too
many “coincidental” ties with the
UK-based telecommunications
provider.

It was recently revealed that
Marsha Lewis, a human
resources consultant to URCA,
worked at C&W until 2009. Mr
Saadat left the company in 2008.
Union leaders also find it worri-
some that an IT executive at
BTC is also a former employee
of C&W.

Mr Mitchell also expressed
“anxiety” about the involvement
of Mr Saadat and Ms Lewis in
the decision-making process.

“Each has had a relationship
with Cable and Wireless which is
so proximate that contaminates
the entire process. I take formal
objection to this matter being
considered by URCA in the cir-
cumstances of those individuals
being a part of URCA,” he said.

The Fox Hill MP pointed out
that the agreement between
Cable & Wireless requires a
three per cent management fee
to be paid to Cable & Wireless to
manage the Bahamian entity.

“This means that the owner
of the majority shares will be
charging a fee and the minority
shareholders will bear the costs
of that fee,” said Mr Mitchell.

“If URCA is minded to agree
to the change of control to which
I object, then a condition ought
to be added to your adjudication
by restricting the right of BTC
to pass those management fee
costs on to the consumer.

“T note further the intention
of the government to extend the
exclusivity period on cellular
phones for an additional 12
months.”

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THE TRIBUNE



LOCAL NEWS

‘Misunderstanding’ over
lisabled parking spot

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

OWNERS of a Palmdale
complex are working to
resolve a “misunderstand-
ing” which arose over a dis-
abled parking spot.

A meeting is expected to
take place today between
the owners of the complex
and the three tenants: Star-
bucks, The Bahamas Foot
Centre and ABC Prosthet-
ics and Orthotics, a clinic
which caters to physically-
challenged clients and
offers free services for busi-
nesses to detail their hand-
icap spots.

The problem emerged
after ABC Prosthetics cre-
ated a handicap spot for
Starbucks customers in the
front parking lot. There is a
large parking lot to the rear
of the building for cus-
tomers of the three estab-
lishments, but there are

JC Penny Alar

Meeting expected between owners
of complex and three tenants

only ten spots in the front.
Four of them are now dis-
abled spots: three designat-
ed by ABC Prosthetics and
one commissioned by the
local Starbucks branch,
according to Erin Brown,
volunteer amputee at ABC
Prosthetics.

The Starbucks franchise
head office was not aware
of the arrangement
between ABC Prosthetics
and the Palmdale branch,
neither were the owners of
the complex. Both were
surprised to learn about
complaints from some
patrons.

Owners of the complex
say no one is taking respon-
sibility for authorising the
designation of the new
spot. They are refuting the

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claim that they “asked Star-
bucks to remove the spot”.

Tribune sources claim
“the whole thing seems to
be a misunderstanding”,
because one of the owners
only asked “what they were
doing and who authorised
it. She never said remove
it. She said she wanted to
check into it,” said the
source.

Tribune sources say the
owners “have always been
sympathetic to the less for-
tunate” in the community
and are “constantly
involved with charitable
activities”, including work-
ing with the disabled.

One Starbucks patron,
who parked in the new dis-
abled spot without a proper
decal, “had a problem”
when she was asked to
move, said a source. She
was Said to “know the own-
er”, and complained about
there being too many spots.

Ms Brown said she was
“saddened” by the
response of some patrons,
particularly because two of
the three establishments on
the complex cater to people
with disabilities.

A client at the Bahamas
Foot Centre told the Tri-
bune that medical patients
have complained for some
time about the lack of ade-
quate disabled parking
spots. She said there has
been “little to no under-
standing” over the years;
“no sympathy, empathy,

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compassion, and no love”.
Ms Brown said she was
“appalled” by some of the
“offensive” comments
made by patrons, and
thought it was the “height
of laziness’ that propelled
some customers to com-
plain about having to use
the back parking lot.
Owners are now working
to “come up with a com-
promise”. A request was
made for the owners to
present a written request

a a ee

Dr. *

‘Tonyé



asking for the spot to be
removed. Tribune sources
say the owners “are not
writing a letter”, because
they have no problem with
the spot as long as all of
the tenants are in agree-
ment.

“Tf it is removed it will
be a mutual decision,” said
the source, and the owners
will go along with whatever
decision the tenants collec-
tively agree to. They are
asking the public to respect

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whichever decision is
made.

With some Starbucks
patrons complaining, 77i-
bune sources said the inter-
ested parties “don’t want
to jepordise their own busi-
ness”, while they want to
show they are “sympathet-
ic to the disabled”.

“We are currently
attempting to resolve the
matter in the best interest
of all concerned,” said the
source.

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THE TRIBUNE

and advancement of women

EVEN while lauding
progress on gender equity in
education and employment
opportunities, Minister of
State for Social Development
Loretta Butler-Turner said
that with the rapid advance-
ment in information and
communication technology
(ICT) shaping the global envi-
ronment, there is still much
work to do in the Bahamas to
increase the level of partici-
pation by women and girls in
the fields of education, train-
ing, science and technology.

Mrs. Turner was address-
ing the 55th session of the
Commission on the Status of
Women (CSW), which con-
vened at the UN under the
theme “access and participa-
tion of women and girls in
education, training, science
and technology, including for
the promotion of women’s
equal access to full employ-
ment and decent work.” Dur-
ing her address, Mrs. Turner
reaffirmed the commitment
of the Government of The
Bahamas to globally recog-
nized goals for access for
women and girls to educa-
tion and employment and
urged the elimination of gen-
der barriers in order to
empower women and girls to
fully participate in the scien-
tific and technical global envi-
ronment.

The minister said that the
Educational and Employ-
ment Acts of The Bahamas
ensure equal educational
rights for boys and girls and
full employment and decent
work for men and women.

“Increasingly girls are pur-
suing subjects that have tra-
ditionally been regarded as
‘male’ subjects in response to
the changing demands of the

MONDAY, FEBRUARY 28, 2011, PAGE 7

The Bahamas reaffirms
commitment to gender equality

MINISTER OF STATE
for Social Develop-
ment Loretta
Butler-Turner





local labour market,” she
reported.

“One of The Bahamas’
success stories in promoting
non-traditional educational
training and employment
opportunities for young peo-
ple is the establishment of
The Bahamas Technical and
Vocational Institute (BTVD,
which has seen greater num-
bers of females secking
careers in agriculture, con-
struction engineering, elec-
tronics, and automotive and
electrical engineering and
technology.”

Mrs. Turner also pointed
out that a significant number
of women currently hold
high-level administrative and
faculty positions throughout
the educational system of
The Bahamas, including sev-
eral leading associate and

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assistant professors in the nat-
ural sciences and environ-
mental studies and some who
have served as Chair of the
Natural Sciences Division at
the College of The Bahamas.

“While these are notable
achievements, I am well
aware that this is not
enough,” the minister said.
“With the rapid advancement
in information and commu-
nication technology (ICT)
shaping the global environ-
ment, we still have much
work to do in The Bahamas
to increase women and girls
participation in the field of
education, training, science
and technology. An over-
whelming number of female
graduates are still inclined to
pursue careers in the human-
ities, social sciences, and judi-
cial fields.”

- a _
Nr Internation






Diamonds International ts treating
its local clients and corporate
partners to a prize presentation and
movie night at the Galleria Cinemas
at the Mall at Marathon.

m [he purpose is to show local

> Bahamian customers how much

Diamonds Intemational has enjoyed

their patronage over the years, With

four (4) stores on Bay Street and

another underway, Diamonds

International continues to express

its appreciation for the loyalty shown

| by its Bahamian shoppers. Apart

from the charitable and other causes

to which the company has

contributed over the years,

Diamonds International continues

to position itself as a leader in fine

jewelry and Swiss time pieces, with its primary focus being high
quality customer service.

But all work will be put aside and no shopping will be done on the
evening of the premier showing of "Big Mama’‘s House II: Like
Father, Like Son", starring Martin Lawrence, as Diamonds
International and its partners go to the movies!

According to Adi Kaniel, General Manager, "we want our customers
to laugh and enjoy themselves for one evening, as we cater to them.
With jewelry and cashes prizes and other raffle surprises during the
evening, we intend to make this a happy occasion for all our invited
guests who are able to attend, as our goal is to demonstrate our
gratitude to those who continue to shop with us and recommend
Diamonds International as the retailer of choice for exquisite
jewelry."

odeana

FABRIC . FURNITURE . FIXTURES
PO Box SP 63884.

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Tel’ Fax (242) 327-708-4/327-7085

Tuesday, March 1st - Saturday, March

10 a.m. - 6:00 p.m.

CODEANA will be re-organizing its warehouse and
cutting stone prices down to the minimum. The fol-
lowing will be on sale:

18" Jersualem Stone - $ 7.00 sq ft.

18" Polished Crema & Carrera Marble - $ 6.00 sq ft.
12" Polished Crema & Carrera Marble - $ 5.50 sq ft.
4x 4" Travertine - $4.00 sq. ft.

2x2" Travertine - $ 4.50 sqft.

Decorative Borders, Ogee
&
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Codeana, Caves Village, West Bay St.
(Between Scotia Bank & Butler & Sands)
Ph - 327-7084 FX - 327-7085
Email - codeanainc@bellsouth.net



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE





The galloping hooves of history:
insight

By SIR RONALD
SANDERS

(The writer is a Consultant
and former Caribbean
Diplomat)

THE Caribbean will not
escape the amazing events
the world has witnessed in
North African and Middle-
Eastern countries over the
last few weeks. The first
impact the region will face
is economic as both oil prices
and aviation fuel escalate in
price rapidly.

As I write this commen-
tary, crude oil future prices
have reached US$116 per
barrel with the chances that
they will rise still further as
the popular resistance

WORLD VIEW

against Libyan autocrat
Muammar Gadaffi grows
and his violent response
expands. The market is also
jittery over worry that the
mass protests that have
swept across several Middle-
Eastern countries will spread
to Saudi Arabia which had
earlier pledged to increase
oil production in order to
meet short-falls in demand
created by disruption to out-
put in Libya, Egypt, and



Bahrain. Middle-East
experts are declaring them-
selves by no means certain
that Saudi Arabia will escape
social disruption.

The worry is that the
heightened prices for oil will
feed its way into the world’s
economies causing a leap in
inflation and dragging down
the still fragile recovery in
the United States and Euro-
pean Union countries from
which the vast majority of

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SIR RONALD SANDERS

tourists to the Caribbean
come.

Apart from a decline in
tourism, airlines have begun
to slap increased fuel charges
on their already expensive
air fares discouraging travel
from Europe to the
Caribbean. The worst effect
of this will be felt by tourism
travel from Britain whose
government already has in
force an Air Passenger Duty
that is higher than a similar
duty on US destinations as
far away as San Francisco
and Hawaii.

Many Caribbean
economies — including those
in the clutches of an Inter-
national Monetary Fund
progamme — had been rely-
ing on quicker economic
recovery in the US and
European Union countries
to bolster their tourism rev-
enues this year and so
improve both their econom-
ic growth and employment,
both of which have declined.
Measured by the effects of
higher oil prices and costs of
aviation fuel, a dramatic
increase in tourism now
looks unlikely this year.

Worse yet, once the glob-
al increase in oil prices per-
meate through Caribbean
economies, prices for food,
electricity, transportation

and manufacturing will all
increase putting pressure on
populations that are already
experiencing a decline in
their earnings in real terms,
increased taxes and growing
unemployment.

For the Caribbean, there-
fore, what’s happening in the
Middle-East is not simply a
television drama or a distant
uprising; it’s a disastrous
development in real time
that will have tough conse-
quences for the region’s
economies.

Higher oil prices will also
create even greater reliance
by some Caribbean govern-
ments on the largesse of
Venezuelan strong man,
Hugo Chavez. Under the
Petro Caribe arrangement,
the Venezuelan government
provides oil to participating
Caribbean countries under a
system by which they pay a
portion of the price upfront
with the balance converted
to a loan on concessionary
terms. The problem about
this is that the debt of these
countries to the Venezuelan
government is rising expo-
nentially, placing them
increasingly in thrall to
Chavez and his domestic and
international policies.

If this arrangement con-
tinues, beyond the greater
influence that Chavez will be
able to exercise over the
Caribbean countries that are
highly indebted to his gov-
ernment, the size of the actu-
al monetary debt will
become a larger burden to
many of these nations. At
some point, in the future the
debt will have to be paid.

It may be that some
Caribbean governments are
operating under the expec-
tation or hope that Chavez
will eventually write-off the
debt. If this is the thinking, it
is dangerous not only
because Chavez may not be
in a position to write-off the
debt, but he may not even

be in power and a Venezue-
lan government more
focused on its domestic
development could both
insist on repayment, and
bring the Petro Caribe
arrangement to an end. The
region cannot pursue its
energy security and its debt
strategy on a policy of flying
on a wing and a prayer.
Chavez himself is no
longer the undisputed pop-
ulist leader of Venezuela.
His resort to expropriating
private businesses, including
Venezuelan-owned small
and medium-sized enterpris-
es; his closing down of media
on the claim that they
oppose him; his jailing of
political opponents; and his
attack (not for the first time)
on the Secretary-General of
the Organisation of Ameri-
can States, Jose Miguel
Insulza, over concern about
his actions in Venezuela that
contradict the spirit and let-
ter of the OAS Charter — all
of these indicate an element
of desperation and instabili-



HIGHER OIL PRICES will create
‘even greater reliance by some
Caribbean governments on the
largesse of Venezuelan strong
man, Hugo Chavez’ (above).

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THE TRIBUNE MONDAY, FEBRUARY 28, 2011, PAGE 9

|
Lessons from strong man politics



ty in the regime, and cer-
tainly speaks to disaffection
in the Venezuelan commu-
nity not unlike the brew that
had been steaming in the
Middle-East for some time
before it boiled over.

Chavez’s detention of a
female judge, Maria Lour-
des Afiuni, has caused the
United Nations Working
Group on Arbitrary deten-
tion to add her to its list of
arbitrarily detained persons
and the Inter-American
Commission on Human
Rights has called for her to
be tried or released. But, it
seems that Chavez is deaf to
the hooves of history that
have galloped through North
Africa and the Middle-East
toppling those who treated
civil and political rights with
scant regard.

In this connection, the
policy of successive Barba-
dos governments to stay out
of Petro Caribe and to meet
payments for oil as neces-
sary, may prove beneficial to
that nation’s autonomy in
policy formulation and deci-
sion-making. Trinidad and
Tobago, of course, as a pro-
ducer of oil and gas itself did
not need to engage Chavez
on Petro Caribe and remains
outside of his debt.

The current volatility in

JMS NATURAL
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INDIAN
HAIR
GROWING
FORMULA

phd22-5209

oil prices caused by these
political developments
should cause Caribbean
countries to address the
problems of energy security
and the effect of high oil
prices in a collective manner,
and to start that process by
studying in a rational and
mature way what they could
do amongst themselves, and
then how they could engage
collectively in the interna-
tional market.

There remains room for
sensible and meaningful dis-








cussions between Trinidad
and Tobago and the other
members of the Caribbean
Community and Common
Market (CARICOM), and
maybe even for oil swop
deals with Belize and Suri-
name who now produce
some oil, if there is a gen-
uine will for regional coop-
eration.

What is certain is that the
Caribbean region which
prides itself on upholding
democracy and human rights
cannot stand by regimes that

NOTICE

are despotic. The tide is
beginning to turn, and not
even the United States has
been able to support its long-
time allies in the face of pop-
ular revolt.

Promises were made to
several Caribbean countries
by Gadaffi.

It is doubtful that he can
now help himself, let alone
them.

Responses and previous
commentaries at:
www.sirronaldsanders.com

BETTY K AGENCIES












OFFICES

have relocated

Now OPEN

NE corner of Victoria & Bay Streets
ALL PHONE NUMBERS REMAIN THE SAME.









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| as follows:
| Nassau - 2 per week
|

Abaco - | per week
as of March Ist.

BETTY K AGENCIES Ltp

Phone 322-2142 ¢ 322-2875 ° 322-2813
Freight Warehouse: 322-8926 Fax 242-322-6089

> TOREWIDE



Marathon Mall Town Center Mall Rosetta St. East St. Sout
Monday 28th February - Friday 4th March

Saturday oth March: Buy 1 Get 1 90% Off

1 DEPOT

*Of lesser value
Except NET items,
All sales final,
No exchange, refund or return.



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Wulff Road, P. 0. Box N 9123, Nassau, The Bahamas, Tel 242.325.4961 * Fax 242.323.4667



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PAGE 10, MONDAY, FEBRUARY 28, 2011

Royal Bahamas Police Force

National Crime Prevention Office

‘SAFETY TIPS FOR JOGGERS’

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The Lyford Cay Foundations’

Grant Awards

The Lyford Cay Fourvdations' Gifts and Grants Committee
is pleased to announce that it is currently accepting grant
applications from Bahamian non-profit and charitable

organisations,

The annual application deadlines are as follows:

* February 7 to be considered by March 30
* April) tobe considered by june 1
* October 1 to be considered by November 20

The Foundations will consider assisting with projects

in the following areas:

* Education! Literacy
» After Schoal Progra rrrees,

* Youth Surmener Comps & Activities

@ Eneironnenta! Protection
» Health Care
* Core Facilities

* Mental Health Programmes
» Feeding Canines,

* Parenting Skills Traine

@ Crime Prenton

» Famih hand Prog rarerrees

For additional details and application fonms, please visit
wwwlyford cayfoundation.ong.

Forms are also aveilable from the Lyford Cay Foundations’

ad minktrative office.

ott

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By CONSTABLE 3011
MAKELLE PINDER

JOGGING is a great
form of exercise that one
can do at their leisure, how-
ever while enjoying this
particular activity, one has
to take some form of pre-
caution for their safety.

A frequent error that jog-
gers or runners make is that
they become so preoccu-
pied in their physical activ-
ity; they fail to be alert and
pay attention to their sur-
roundings.

There are precautions

one has to take ranging
from all topics, which are
listed below.

AREA

Always make sure to run
in an area that you are
familiar with and that is safe
and do not jog or run near
bushes, which can provide
concealment.

This way you will not get
lost at you know the partic-
ular area and also if it is
safe the crime rate will be
low.

Always jog or run with a
known companion.

ATTENTION...

TO: ALL CIVIL SERVANTS!!!

(Not presently members of Public Workers’
Co-operative Credit Union Limited)

Just walk into the offices of the Public Workers’
Co-operative Credit Union Limited, in Nassau or
Freeport, with any amount of money, between
$100.00 and $5,000.00, and you could be approved
for DOUBLE that amount, pending receipt of:

1) Job Letter

2) Most recent salary slip
Passport (to be copied)

Approved salary deduction form
$10.00, onetime, membership fee

(

(

(3

(4) N.I.B. card (to be copied)
(5

(6

DOUBLE YOUR FUNDS.....

That’s right, a Loan approved within 24 hours!!

Come, and take advantage of this offer,
which begins Monday, February 21, 2011,
for a limited time only.

PUBLIC WORKERS’ CO-OPERATIVE
CREDIT UNION LIMITED
Nassau (323-6594) Freeport (351-7129)
“The Family Credit Union”



he ppt nh eel

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MP3s

A lot of joggers carry a
music player along with
them; make sure this is hid-
den as possible, by putting
the wires underneath cloth-
ing instead of out of it.

Also do not continually
get it out to change the song
as this can attract thieves.

Furthermore, also when
jogging keeping wires
tucked inside of clothing
makes the risk of tripping
over wires very slim.

The headphone may
come out of your ears and
fall to the floor thus you
trip over it, but when
tucked in it will not do this.

In addition, always make
sure that you can hear
background noise and nev-
er turn up your player so
that you cannot.

DOGS

Some runners are afraid
of dogs, and may see a few
dogs on their journey.

If you are extremely
afraid and dislike dogs, try
to avoid these situations. If
you see a dog by far take a
different route or stay far
away as possible.

However, inevitably
sometimes you will
encounter dogs on your jog-
ging expedition, so make
sure to keep calm and not
be tempted to run away as
they may chase you or if a
dog does attack, try to
"Feed" it your workout
jacket or other item of
clothing.

Remember to also carry
some canine repellent just
in case you are approached
by a attacking dog.

CLOTHING

Always make sure to
wear appropriate clothing
for the environment.

If it is a cold environment
wear clothing that will keep
you warm such as a track
suit.

If it is a hot environment
keep cool with light cloth-
ing that will keep you cool.
In addition, choose appro-
priate footwear and make
sure to tie the laces prop-
erly as you can trip over
them.

WATER

If you get thirsty easily or
for safety, it is best to carry
a water bottle with you, this
will keep you hydrated.



THE TRIBUNE

CONSTABLE 3011
MAKELLE PINDER

Some people may get
very thirsty and tired during
their run so drinking water
will cool you down.

MISCELLANEOUS

If you have asthma make
sure to always carry your
pump with you, even if you
feel you may not need it.
Also if you are carrying
keys or a phone with you
keep it in a safe place where
it is not likely to fall out.

When jogging, make sure
to make the experience as
pleasant as possible by tak-
ing these precautions.

Always Remember the B
Three A’s: Be Alert, Be
Aware, and Be Attentive
to your surroundings at all
times.

Should you be a victim of
crime while jogging, please
do not resist but take note
of the description of the cul-
prit e.g. his appearance,
clothing, height, physical
details and the direction or
mode of escape.

Call the Police as soon as
it is safe to do so.

If you come across any
suspicious person(s) loiter-
ing around your business or
have any information per-
taining to any crime, please
do not hesitate to contact
call the police emergency
at ‘919’ or Crime Stoppers
at 328-tips (New Provi-
dence), 1-300-8476 (Family
Islands)

a ;
fi | = = ia
roti d

A Gourmel Pizzeria
Made to Perfection!

242.396.9599

Saunders Beach, Nassau, Bahamas

a

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Add an additional Jumbo Cheese Slice - $3.50

# 2- 1 JUMBO Slice Pepperoni & Drink-$6.00

Add an additional Jumbo Pepperoni Slice- $4.25
#3 -1 JUMBO Slice Specialty Pizza & Drink- $7.00
Add an additional Jumbo Specialty Slice- $5.00

“GETTING PERSONAL”

#4 - 1 Personal 1 Topping Pizza, Cheesy Bread &

Drink- $12.75

#5 - 1 Personal 1 Topping Pizza, 5pc. Buffalo/BBQ
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wings -$16.50

Call and ask about our daily Light and Fit menu!

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Available sodas: Coke, Root Beer,
Sprite and Goombay.

Add cheesy bread to any order for $3.50. Add wings
5 pe wings to any order for $4.99 Add an additional
drink to any order for $1.25. Lunch Menu is available

from 11 am-4pm.

All Personal Pans -9 inches (64sq inches)
All Medium Pizzas - 12 inches (113sq inches)
Jumbo Slices - (39sq inches)

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


THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 11

LOCAL NEWS



Pilots attend ‘Let's
fly to the Islands
of the Bahamas’

seminar in Orlando

MORE than 150 pilots
packed a room at Showal-
ter Flying Service, in Orlan-
do to hear an instructional
discourse by the Federal
Aviation Administration
(FAA) on the international
navigation across the waters
from the Florida coast to
The Bahamas.

The seminar “Let’s fly to
the Islands of the Bahamas”
with Mark Griffin, FAA
examiner for the North
Florida FSDO, and an expe-
rienced Bahamian traveller,
was one of the highlights of
a successful ‘Bahamas Day
2011” event.

Organized and hosted by
Showalter, a Bahamas Pre-
ferred Gateway FBO, the
Saturday’s event drew sev-
eral hundreds that included
pilots and others in the avi-
ation industry, as well as
members of the public
interested in learning more
about The Bahamas and its
culture. The event marked
the second annual Bahamas
Day -— the first was hosted
by Banyan Air in 2010 — to
promote The Bahamas and
the ease of flying there.

In addition to the FAA
seminar, other seminars
included — "Preflighting
Your Passengers for Over-
water Flight" and “Pull the
Cord” a live life raft
demonstration with Amy
Laboda. A spectacular
Junkanoo performance,
Bahamian food, including
conch fritters cooked to
order and a fully-regaled
Bahamas police officer all
contributed to the event and
delivered an authentic taste
and feel of The Bahamas to
the hundreds that attended.

A wl photo

The aim of the Bahamas
Day event is to educate gen-
eral aviation pilots on the
ease of flying to The
Bahamas as well as to pro-
mote The Bahamas to the
general public.

The booths at the event
showcased information on
accommodations, dining,
activities and shopping in
The Bahamas, as well as
provided general aviation
pilot information and equip-
ment.

Among the sponsors of
this years event was AOPA,
respresented on site by its
vice president, pilot infor-
mation, Woody Cahill. Oth-
er sponsors. included
Odyssey Aviation, Pilot
Publishing - Pilot's Guide
Pilotmall.com, Our Lucaya
Resorts, Fernandez Bay
Village, Stella Maris Resort,
Treasure Cay Hotel Resort
& Marina, Cape Eleuthera
Hotel and Resort, Bimini
Big Game Club and Hope
Town Hide-away.



Bahamas day is a featured
marketing initiative of The
Bahamas Ministry of
Tourism and Aviation.

Under the leadership of
Greg Rolle, chief aviation
specialist and his team, the
ministry has over the past
few years launched a strate-
gic marketing campaign
aimed at capturing its share
of the licrative aviation
market that boasts near
50,000 general aviation
pilots in the Florida market
alone.



AN AERIAL VIEW of some of the 30 planes that flew into Showalter
Flying Service, Orlando Florida's FBO, for Bahamas Day 2011.

will be — +

Wyannie’s descendants - Be there!!!
Saturday March Sth, 2011

10am - 4pm

Hope Town, Abaco

Historic house tour

Plant sale

Sculling competition/Trophy presentation

Art show & Sale

Games

Interactive Historical Booths
(Turbot skins to Toys!)
Explore the Exhibits at the Museum
Research your Genealogy
Have photos taken in period costumes
Tons of food and baked goods
(Authentic Bahamian Cuisine - Yum!)

*** SPECIAL FERRY FARES***
Albury’s Ferry from Marsh Harbour
$15 round trip (All Day)

Froggies from Man-O-War - $15 round trip
(call 366-0431 to reserve your spot)

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

A GROUP SHOT OF VENDORS, sponsors and organisers of Showalter Flying Service, Orlando, Florida's
successful Bahamas Day 2011.




































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PAGE 12, MONDAY, FEBRUARY 28, 2011

LOCAL NEWS

THE TRIBUNE





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ie



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y WwW

SOME OF THE U.S. EMBASSY VOLUNTEERS who participated in the beach clean-up. From left, back row:
Robert Lee Kruger; Beth Tucker, Tonya Kelley, Louie Parks. Front row: Meg Fisher and Trevor Glasgow.



US Coast Guard spearheads

U.S. Embassy volunteers
gathered on West beach on
February 17 for their fourth
weekly beach cleanup since
the beginning of January.
The effort was spearheaded
by The U.S. Coast Guard
(USCG) in collaboration
with the Ministry of Envi-
ronment to help ensure that
the Bahamas remains
“green, clean and pristine.”

U.S. Coast Guard
Deputy Director, Tonya
Kelley, has been the driving
force behind the weekly
cleanups because as she puts
it she takes her role as a
guest in The Bahamas very
seriously. Local beach trash
increased just before Christ-
mas when a_ vessel
marooned off the coast of
Blackbeard Cay caused

U.S. EMBASSY VOLUNTEER
Marta Encarnacion participates
in the cleanup effort.

countless items to wash up
on shore.

Elizabeth Parks experi-
enced this first hand during
the inaugural clean up in
early January, which was
one of the busiest.

“We moved clothes, box
springs, and even two mat-
tresses,” Ms Parks said.
“We love The Bahamas and
its beaches and we want to
do anything that we can to
help keep them clean,” she
added.

Cleaning the beaches of
New Providence is part of
the U.S. Coast Guard’s
overreaching philosophy of
environmental protection
and responsibility.

Louie Parks, the Direc-
tor of Operation Bahamas
Turks and Caicos

eekly beach clean-ups
on New Providence

(OPBAT), believes that the
partnership with the Min-
istry of Environment, which
has assisted by hauling away
collected trash, is pivotal.

“The Ministry of the
Environment’s participation
in the OPBAT-USCG pro-
gramme also serves to moti-
vate and sustain the spirit of
the volunteers involved,”
Parks added.

The U.S. Embassy volun-
teers plan to continue the
beach-clean-up programme
on a weekly basis for the
foreseeable future. They
hope that their efforts will
encourage other local orga-
nizations to protect The
Bahamas’ natural beauty by
starting similar beach clean-
up programmes around New
Providence.



The Churches of The Nazarene

in The Babamas

under the theme:

“Lord Let Your Glory Mrise”

will be celebrating it's

36th Annual

Conventions &

Assembl

Tues. March 1st - Sun Marc

7:30p.m. Nightly

6th, 2011

At Central Church of The Nazarene
East Street South, South of Soldier Road
Hear anointed preaching from,

Rev. Kirk Curry, District Superintendent,
Dr. Alvan Burrell, Min. John Laguerre,
Pastor Leslie Philips of Freeport, Grand Bahama
& Dr. Scoffield Eversley of Trinidad

Join us for our leadership training.

Sessions beginning:

Tuesday, March 1st 10:00a.m. Daily
Come here melodious anointed singing from
various and The District Combined Choir



Dr. Alvan Burrell

Min. John Laguerre

COME AND BE RECGHARGED AND REVIVED



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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 13



REAL ESTATE: How to buy like a seller

By MIKE LIGHTBOURN

IF you're in the market to buy a
home, take a counter-intuitive tip
and imagine the day you'll be sell-
ing it.

That's right - whether you're a
first time purchaser, or moving
to another island, this home pur-
chase probably won't be your last,
so look for features that will pay
off when the day comes to move
on again.

One of the biggest amenities
the next buyer will look for is
central air conditioning. To give

you an idea, in the deep south in
the US, over 90 per cent of pur-
chasers rank central air as criti-
cally important, and three-quar-
ters of purchasers everywhere
else in the US put it high on the
list.

Another often-overlooked fea-
ture is storage. Over half of pur-
chasers desire a two-car garage
and a walk-in closet for the mas-
ter bedroom. Ample closets and
storage space just can't be
stressed enough.

If at all possible, avoid costly
upgrades and offer incentive

down the road by purchasing an
energy efficient home with newer
windows, pervasive insulation,
and energy saving appliances.

In the Bahamas, energy effi-
cient means windows that can
open during the cooler season,
but seal properly during the sum-
mer when air-conditioning is
used. Also, you will be greatly
rewarded with hurricane-proof
windows. Imagine not having to
batten down when a hurricane
approaches. If the home is
already wired for cable, satellite,
and high-speed Internet, so much

the better.

It used to be all about location,
location, location. This is still
extremely important because of
traffic congestion, which can only
get worse. So one of our biggest
considerations is proximity to the
things we need in life - schools,
food stores, work and so on.

Another consideration is how
relatively safe an area is. These
are all matters which are to be
considered.

However, in my opinion, the
most important factor is price,
price, price.



‘Visible changes’
to Carmichael
Road shanty
towns in next year

FROM page one

goal and that is what we
hope to achieve,” said Mr
Rolle.

The government is “only
beginning to put in the
rough infrastructure” for
the initial 90-lot develop-
ment, but once the subdi-
vision is redeveloped it is
expected to have 132 lots,
which will include public
open spaces, a commercial
centre, recreational centres
and business opportunities,
said Mr Rolle.

It will cover the area of
Sous Wach, Government
Yard, Mackey Yard, Mar-
garet Yard, and the Rasta-
farian Camp.

“There is a process that
must be followed when
dealing with human beings.
Although you may come to
a plot of land that is owned
by the government there is
a system in place that the
government itself must fol-
low. So, yes, the vast major-
ity of Bahamians would
like to see immediate
action taken, to see the
government roll in and
bulldoze the communities,
and perhaps many of them
may feel justified in doing
that, but I think sound and
good thinking Bahamians
realise a process must take
place before these things
can happen, which is why
we have taken the position
we have, starting in Pride

Estates,” said Mr Rolle.

“Our discussions with the
various groups in the area
have not been contentious.
They have been reasonable
and open. The people who
were squatting recognise
what we are trying to do.
Quite the opposite: people
are happy we are trying to
tackle this problem that is
huge in the country,” he
said.

A member of the United
Haitian Association in The
Bahamas (UHAB) said
there is no way of “pacify-
ing people” who want the
yards to be broken down
“since yesterday”; people
with a philosophy that says,
go in there with a bulldozer
and tear down the yards,
because they shouldn’t
have been there in the first
place.

“They might not be
working fast enough for
some, but they are doing it.
It is difficult to be humane,
to act systematically and to
be quick, so we hope peo-
ple can be patient,” said the
UHAB member. After all,
it took years for the villages
to grow to the scale at
which they are today.

“We are asking for
patience from the other
people. The government is
actually doing something,
and in two, three months
you will be able to drive
and see some of these vil-
lages coming down,” he
said.

First preference to buy a
house on the regulated land
is going to Bahamians who
have been squatting, per-
manent residents and chil-
dren born in the Bahamas
who are over 18.

Father Vilfort Roland of
the Queen of Peace Parish,
a Catholic church on Fire
Trail involved in Haitian
ministry, said leaders in the
community are working
with the government to
assist in regularising the
area. He said the commu-
nity supported the move to
improve the living condi-
tions and develop a proper
subdivision.

Government officials
confirmed the large pres-
ence of Bahamians factored
into the government's deci-
sion to start its shanty town
transformation programme
with Government Yard.

“It is the first area we are
regularising on a large
scale. That was taken into
account that a large num-
ber of Bahamians are on
the land. We want to make
sure first that persons,
Bahamians in particular
and others, who have lived
on the land and have
invested in the land, be giv-
en an opportunity to own
a piece of the property if
they qualify.

“That is the operative
word, they must qualify to
be able to legitimise their
position on the land,” said
Mr Rolle.

Oil price sparks
fuel cost fears

VACANCY
PUBLIC RELATIONS MANAGER

Sandals Royal Bahamian Spa Resort and Offshore Island invites suitably qualified
Bahamians to apply for the position of Pubhe Relations Manager. Candidates wall
possess strong writing and organizational skills, the ability to juggle several projects
at once and a desire to undertake a variety of communily imblimatives

We're looking for someone with an eye for a news story and media contacts in the
Bahamas to match, Experience working at this level preferably in a hospitality or
philanthropy environment is a benefit.

VAIS DUTIES AND RESPONSITBILITES

* Working with the Regional Public Relations Manager to coordinate local, regional
and International media relations
Devise and coordinate Sandals Foundation and outreach projects within the local
community and lead fundraising initiatives
Press release writing and event coordination
Support staff relations program
Attendance and participation at guests events and departmental brichngs
Support implementation of brand messaging and other internal communication
Ongoing media monitoring and reporting

UALIFICATIONS ASD EXPERIENCE

Bachelor of Arts Deeree in Mass Communications, Public Relations, Journalism,
or related field

Minimum two years experience in Public Relations, hospitality or related field
Ability to work flexible hours and to deadlines

Excellent oral and creative written communication and time management skills
Proficient in MS Office and other related programmes

Ambition, drive and personality are a must

Written applications and resume must be emailed to the Regional PR Manager at
yeherquaculltprp.sandals.com no later than Dlth March, 2001. Only suitable applicants
will be acknowledged.





FROM page one

$90 per barrel, but as Bahamian retailers
will feel the effects of oil price rises around
two months later, they want the govern-
ment to take action now.

Bernard Dorsett, owner of Porky's Tex-
aco Service Centre in East Street, Nassau,
has increased his overdraft to 18 per cent of
his earnings in order to pay for the petrole-
um which has risen by around 75 cents per
gallon over the last six months, and four
cents per gallon in the last three weeks.

He said he paid nearly $39,000 for gaso-
line yesterday, and will only get $26,000 in
return, while 4,000 gallons of diesel will set
him back over $4,000 and return only $190.

“We are teetering on the edge and we
need some relief,” Mr Dorsett said.

“There is no way we can continue like
this. As long as it continues to go up I'm
investing more money to make less mon-
ey. "

Mr Dorsett has been agitating for 24 years
for government to allow retailers to base
the income they draw per gallon of gaso-
line on a percentage of the cost, however the
government has given no indication whether
it will allow petroleum retailers any relief as
prices increase.

Prime Minister Hubert Ingraham con-

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firmed in his mid-term budget address on
Wednesday that the average retail price of
gasoline and diesel rose by 23.8 per cent
and 14.1 per cent respectively, to $3.68 and
$4.33 per gallon, during an 11-month period
monitored by the Department of Statistics.

And the Bahamas Electricity Corporation
(BEC) increased its average fuel surcharge
by 36.8 per cent to $0.1379 per kilowatt
hour, compared to a 47.9 per cent reduc-
tion in 2009.

Mr Ingraham warned Bahamian house-
holds and businesses to implement appro-
priate conservation measures to minimise
the impact from anticipated energy and com-
modity price rises and Minister of State for
the Environment Phenton Neymour reiter-
ated the need to conserve energy yester-
day.

The minister in charge of utilities said
BEC is undertaking significant efforts to
improve energy efficiency through an exten-
sive maintenance programme.

This includes work at the Clifton Pier
power plant where he said BEC will max-
imise the use of heavy fuel oil Bunker C
over the more expensive diesel fuel.

The proposed use of Bunker C at a new
power plant in Wilson City, Abaco, sparked
protests in the community as hundreds of
locals voiced concern over its negative
impact on the environment.

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PAGE 14, MONDAY, FEBRUARY 28, 2011

THE TRIBUNE



INTERNATIONAL NEWS



Christchurch holds prayers
for victims of earthquake

CHRISTCHURCH,
New Zealand
Associated Press

PARISHIONERS came
together Sunday in parks and
on the lawns of churches bro-
ken in New Zealand's earth-
quake to pray for the dead
and missing. They sought
togetherness and an answer
to the question on everyone's
mind: Why?

"The randomness of the
events throws up the ‘why’
question more starkly,” the
Rev. Mark Chamberlain told
about 100 people who came
to hear his sermon outside
St. Barnabas Anglican
Church, where jagged cracks
line the walls, stained glass
windows are shattered and
the tower is sinking.

"Why did one person sur-
vive and one person die?
Why did the people in the
cathedral — of all places —
perish?"

Up to 22 people may be
buried in rubble at
Christchurch Cathedral, most
of them believed to be
tourists climbing the bell tow-
er for its panoramic views of
the southern New Zealand
city of Christchurch when it
was struck by last Tuesday's
6.3-magnitude quake.

The official death toll rose
Sunday to 147 as search
teams uncovered more bod-
ies in the debris and that
number was expected to rise,
police Superintendent Dave
Cliff said. Prime Minister
John Key has said the quake,
which decimated the city's
downtown, may be the coun-
try's "single-most tragic” dis-
aster.

The churches that dot the
city felt some of the worst of
the temblor’s wrath. Spires
toppled, stained glass win-
dows exploded, walls cracked
and masonry fell.





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Outside St. Barnabas, the
faithful — and those whose
faith has been tested by the
disaster — sat in chairs on
the lawn with heads bowed,
many wiping away tears, as
leaders of the 86-year-old
church tried to comfort them.

"This is not called
Christchurch for nothing,”
the Rev. Philip Robinson
said, drawing smiles from a
few. "We will rise again."

Many parishioners said
they relished the normalcy of
attending Sunday Mass amid
the heartbreak of the past
week, even if it wasn't quite
normal: where typically there
are smiles, there were tears,
and the sermon was occa-
sionally punctuated by the
wails of passing police cars
and the roar of a military
chopper overhead.

"It helps get back to nor-
mal, even if it's outside in the
sunshine,” said Mary Mills,
67. "But aren't we lucky to
be free? To be here?"

Tears

Nearby, Joe Oslawskyj, 41,
sat next to his wife and four
children, tears in his eyes.
The family only moved to
New Zealand from Man-
chester, England, three
weeks ago, and have been
struggling to cope since the
quake.

"It just means something
to be with all the people," his
40-year-old wife Joanne
Fagan-Oslawskyj said, weep-
ing.
"We're all the same, and
we're all together."

Staff members handed out
tambourines and rattles to
children, and the church
band played a series of
upbeat songs. Fagan-
Oslawskyj wiped the tears
from her eyes and smiled,

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picking up her 3-year-old
daughter Sarah and bounc-
ing her in time to the music,
as the little girl shook her rat-
tle and grinned.

Outdoor services also were
held at other churches and at
a library, where attendees
arrived on bicycle or on foot
and sat in folding chairs.

The Eucharist was per-
formed at St. Albans Park
with pita bread and a bottle
of Australian port because
wafers and communion wine
were lost in the quake.

Members of New
Zealand's indigenous Maori
community held a traditional
ceremony at the ruined
cathedral to bless spirits of
the dead believed buried
under the rubble there.

Other residents spent their
Sunday morning in more sec-
ular surroundings, such as the
botanical gardens, where oak
trees insulate the pathways
from the noise of the city's
rescue and recovery opera-
tions.

The Robb family, brothers
Neville and Graeme and
their wives Gael and
Michelle, met in the gardens,
as they do every Sunday, to
walk their dogs.

"You feel guilty doing
something so normal when
there is so much suffering,”
Michelle Robb said. "But the
dogs need walking."

Some 56 percent of New
Zealanders have a Christian
religious affiliation and near-
ly 35 percent profess no reli-
gion, while religions such as
Islam, Hinduism and Bud-
dhism are growing as immi-
grants arrive.

In other parts of the city,
residents did what they could
to help others: one family
walked the dusty streets,
handing out cupcakes to a
construction crew repairing
the fractured roads. A group




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New Zealand, Saturday, Feb. 26, 2011. Tuesday's magnitude 6.3 temblor collapsed buildings, caused exten-
sive other damage killing more than 100 people and with 200 more missing. (AP)

of young men drove through
the city, hopping out of their
car at stop lights to hand foil-
wrapped plates of food to
nearby drivers.

After the service at St.
Barnabas, people gathered
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and to comfort those in pain.

Megan Blakie, 45, stood in
the crowd, eyes brimming
with tears.

"T just am struggling with
where's God in all of this?"
she said. "It's not shattered
my faith, but it's hard to keep
going."

But she came to church
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THE TRIBUNE

MONDAY, FEBRUARY 28, 2011, PAGE 15



INTERNATIONAL NEWS



Libyan rebels
gear for fight in
city near capital

ZAWIYA, Libya
Associated Press

HUNDREDS of armed
anti-government forces
backed by military defectors
who control the city closest
to the capital Tripoli prepared
Sunday to repel an expected
offensive by forces loyal to
Moammar Gadhafi sur-
rounding Zawiya.

Two prominent U.S. Sena-
tors said Washington should
recognize and arm a provi-
sional government in rebel-
held areas of eastern Libya
and impose a no-fly zone over
the area — enforced by U.S.
warplanes — to stop attacks
by the regime. U.S. Secretary
of State Hillary Rodham Clin-
ton echoed President Barack
Obama's demand for Gadhafi
to relinquish power.

"We want him to leave,"
she told reporters traveling
with her Sunday to a U.N.
meeting on Libya planned for
Monday. "We want him to
end his regime and call off the
mercenaries and forces loyal
to him. How he manages that
is up to him."

Gadhafi's son, Seif al-Islam,
claimed again that the country
was calm and denied the
regime used force or airstrikes
against its own people. But
human rights groups and
European officials have put
the death toll since unrest
began in Libya nearly two
weeks ago at hundreds, or
perhaps thousands, though it
has been virtually impossible
to verify the numbers.

There were no reports of
violence or clashes on Sun-
day.

Gadhafi has launched by
far the bloodiest crackdown
in a wave of anti-regime upris-
ings sweeping the Arab world.
The United States, Britain
and the U.N. Security Council
all imposed sanctions on

Libya over the weekend. And
President Barack Obama said
it is time for Gadhafi to go.

The regime, eager to show
foreign reporters that the
country is calm and under
their control, took visiting
journalists to Zawiya, 30 miles
(50 kilometers) west of
Tripoli on Sunday. However,
the tour confirmed the anti-
government rebels are in con-
trol of the center of the city of
200,000. They have army
tanks and anti-aircraft guns
mounted on pickup trucks
deployed.

On the outskirts of the city,
they are surrounded by pro-
Gadhafi forces, also backed
by tanks and anti-aircraft
guns.

Troops

There were at least six
checkpoints controlled by
troops loyal to Gadhafi on the
road from Tripoli to Zawiya.
Each checkpoint was rein-
forced by at least one tank,
and the troops concealed their
faces with scarves.

"To us, Gadhafi is the
Dracula of Libya,” said Wael
al-Oraibi, an army officer at
Zawiya who joined the rebels.
He said his decision to defect
was prompted in large part
by the Libyan leader's use of
mercenaries from sub-Saha-
ran Africa against the people
of Zawiya.

A key city close to an oil
port and refineries, Zawiya is
the nearest population center
to Tripoli to fall into the
opposition hands. Police sta-
tions and government offices
inside the city have been
torched and anti-Gadhafi
graffiti was everywhere. Many
buildings are pockmarked by
bullets.

The mood in the city was
generally upbeat, but the
anticipation of a renewed

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attempt to retake the city was
causing some anxiety among
the rebels.

Meanwhile, cities in east-
ern Libya under the control
of rebels have appointed a
former minister to lead a pro-
visional government, officials
in Benghazi, Libya's second
largest city in the east, said
Sunday. But a spokesman for
the new government, Abdel-
Hafidh Ghoga, denied that
former justice minister
Mustafa Abdel-Jalil was
named its leader.

U.S. Democratic Senator
Joe Lieberman, speaking on
CNN's "State of the Union"
Sunday, said Washington
should arm the provisional
government in rebel-held
areas of eastern Libya "to
fight on behalf of the people
of Libya against a really cruel
dictator." He also proposed
imposing a no-fly zone over
the east to stop forces loyal
to Gadhafi from attacking.

Speaking on the same pro-
gram, Republican Senator
John McCain suggested that
U.S. warplanes are used to
enforce the no-fly zone and
that Washington recognizes
the government in eastern
Libya.

Gadhafi's son Seif al-Islam
denied in a TV interview that
his father's regime used force
or airstrikes against its own
people.

"Show me a single attack.
Show me a single bomb," he
told ABC's "This Week,"
according to a transcript.
"The Libyan air force
destroyed just the ammuni-
tion sites. That's it.”

Seif al-Islam is the most vis-
ible of Gadhafi's children and
has since the anti-government
protests broke out nearly two
weeks ago been acting as a
spokesman for the regime.

"The whole south is calm.
The west is calm. The middle



in Zawiya, 30 miles (50 kilometers) west of Tripoli, in Libya Sunday, Feb. 27, 2011. Hundreds of armed anti-gov-
ernment forces backed by military defectors in Zawiya, the city closest to the capital Tripoli, prepared Sunday
to repel an expected offensive by forces loyal to Moammar Gadhafi who are surrounding the city. (AP)

is calm. Even part of the
east," he said.

Asked about Obama's call
for his father to step down,
he said: "It's not an Ameri-
can business, that's No. 1. Sec-
ond, do they think this is a
solution? Of course not."

As for the U.S. freeze of
Libyan assets, he said: "First
of all, we don't have money
outside. We are a very modest
family and everybody knows
that."

Skeletons

"Gadhafi Out," chanted
hundreds in Zawiya's city cen-
ter on Sunday. The charred
skeletons of many cars lit-
tered the city and most streets
were blocked by palm tree
trunks or metal barricades.
"Free, Free Libya," chanted
members of the anti-govern-
ment forces at the city cen-
ter.

"Down with Gadhafi, the




mass murderer,” read graffiti
scrawled in the city. An effigy
of Gadhafi hung from a light
pole in the city's main square.
On its chest the words "Exe-
cute Gadhafi" were embla-
zoned.

The square has now
become the burial place of six
of 11 rebels killed by pro-
Gadhafi forces Thursday
when they attacked the area
to try and dislodge them. Res-
idents reported several skir-
mishes between the two sides
since Thursday.

"We are all wanted," said
one rebel at the square who
did not want to give his name
for fear of reprisals. "Zawiya
in our hands is a direct threat
to Tripoli."

Rebels from the town and
army forces who defected
from the regime to join them
largely consolidated control
of the town on Feb. 24, after
an army unit that remained
loyal to Gadhafi opened fire

on a mosque where residents
— some armed with hunting
rifles for protection — had
been holding a sit-in.

About 20 miles (30 Kilo-
meters) west of Zawiya, some
3,000 pro-Gadhafi demon-
strators gathered on the
coastal highway, chanting slo-
gans in support of the Libyan
leader.

Before Zawiya fell to rebel
forces, Gadhafi scolded the
city residents on Thursday.

"Shame on you, people of
Zawiya.

“Control your children,” he
said. "They are loyal to bin
Laden," he said of those
involved in the uprising.
"What do you have to do with
bin Laden, people of Zawiya?
They are exploiting young
people ... I insist it is bin
Laden."

On Feb. 24, local forces
repelled an attempt by militi-
amen and pro-Gadhafi troops
to take back the town.

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