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

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Full Text
PAGE 6B, FRIDAY, MARCH 11, 2011

THE TRIBUNE



GLOBAL ECONOMIC NEWS/AP

Planning moves. Stocks lift household wealth

On ‘prosecution’
of sign owners —

FROM page 1B jh. A

it



Archie Nairn, Permanent
Secretary in the office of the
Attorney General, said that
from its perspective,
whether prosecution of the
businesses will occur is still
to be determined.

“The matter is now under
review. It hasn’t yet been
concluded, but essentially
physical planning wanted a
legal opinion (on how to
proceed),” said Mr Nairn.

The most prominent digi-
tal billboards include Robin
Hood’s on Tonique
Williams-Darling highway,
and two bill boards which
have been erected on the
corner of the Fox Hill/Prince
Charles Drive junction and
on Shirley Street. Baha Mar
operates another digital bill-
board on Cable Beach,
which its vice-president of
external affairs, Robert
Sands, says was erected with
the permission of the Gov-
ernment.

Sandy Schaefer, owner of

i? DAVE CARPENTER,
i AP Business Writers
? JEANNINE AVERSA,
:? AP Business Writers
: WASHINGTON

i Americans’ wealth grew 3.8
? percent in the final three
? months of 2010, boosted by

Robin Hood, has previously : gains in stock portfolios. Com-
? panies, meanwhile, added to

stated that his company ; : : :
planned to fight the Hovern- } their cash stockpiles, which

ment order to take down the : teached their highest point in
billboard, which provides : ae a ‘i lectern

advertising for Robin Hood } Spar i La momen
and Mario's Bowling, owned i $56.8 trillion in the October-
by his Tonique Williams- ee ee

: : i though the value of real-estate
Darling Highway store loca- : holdings fell 1.6 percent, the
tion’s landlord, Leslie

, i Federal Reserve said Thursday.
Miller. : Last quarter's gain exceeded

VACANCY

Property Management Company is
immediately seeking an_ entry-level
maintenance worker for its multi-

floor commercial building. The ideal
candidate will be required to perform
general building maintenance and
repair work involving plumbing and
electrical skills; some heavy lifting is

required. The candidate must work
well independently, take initiative and
be a team player.

Attractive benefits

Reply in confidence to:

vacancys0@gmail.com

(only short-listed applicants will be contacted)

ROYAL FIDELITY

Moray at Work



while companies amass cash

ae |
: sg ft fe
ey Da



ae ae
Ee ge ms 8

=

(AP Photo/Paul Sakuma)

? STOCK RISING: In this Feb. 28, 2011 photo, a customer looks at two new 2011 Dodger Chargers at a deal-
: ership in Burlingame, Calif. Americans’ wealth grew 3.8 percent in the final three months of 2010,
: boosted by gains in stock portfolios. Companies, meanwhile, added to their cash stockpiles, which
? reached their highest point in more than a half-century.

Still, it would have to rise an
additional 16 percent to reach
its pre-recession peak of $66
trillion.

Companies are still holding
tight to their cash. Their cash
pues grew to $1.89 trillion last
quarter. That's the most on
quarterly records dating to
1952.

Economists predict that com-
panies will use more of their
cash this year to make capital
investments and boost hiring.

In the April-June quarter,
net worth posted its first decline
since 2009, when Europe's debt
crisis bred turmoil on Wall
Street. Since then, stock gains
have continued to rebuild
Americans’ wealth.

the 2.6 percent increase in net
worth in the July-September
period.

So far this year, stocks have
risen more than 3 percent. Fur-
ther gains in wealth could lead
Americans — especially higher-
income consumers — to spend
more, strengthening the econ-
omy.

Net worth is the value of
assets such as homes, checking
accounts and investments,
minus debts like mortgages and
credit cards. It's now risen for
two straight quarters after
shrinking last spring.

Americans’ net worth is well
above the bottom hit during the
recession: $49 trillion in the Jan-
uary-March quarter of 2009.

Gov't tendering
reform ‘critical’

FROM page 1B

government procurement functions. It’s an important
grant, and will go a long way to improving the internal
tendering process for these works. It needs it.”

The project is designed to improve the Government’s
procurement system through the use of information and
communications technology, creating a database of Bahami-
an companies who are eligible to participate in tendering
processes, thus improving the access of small and medium-
sized enterprises to public sector contracts.

“The goal of this project is to contribute to the moderni-
sation of government procurement systems that will be
more aligned to regional and international standards with
new provisions for promoting the participation of medium
and small and medium-sized enterprises,” the IDB said.

Government procurement is critical in developing/sus-
taining such businesses, and helping them to grow, and Mr
Wrinkle said of the project: “It’s critical, particularly in
light of the fact that these huge infrastructure projects are
going to be awarded to international firms.

“It makes it more imperative that contracts can be award-
ed to Bahamian contractors, and that they are above board,
transparent and involve the maximum number of parties.”

Adding that the Bahamas often seemed to “live in crisis
management”, Mr Wrinkle said that “some regularisation of
the protocols and the form of tender process is necessary.
The Government awards a lot of contracts during the course
of a year, but more regularisation will help. The grant is very
timely, and we will assist in any way possible”.

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

Bes]

creer ca wT AT.

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 10 MARCH 2011
BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | CHG 0.02 | YTD -42.70 | YTD % -2.85
FINDEX: YEAR END 2008 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE: 242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Securit _y
0.95 AML Foods Limited 1.09
9.05 Bahamas Property Fund 10.63
4.40 Bank of Bahamas 4.50
0.17 Benchmark 0.18
2.70 Bahamas Waste 2.70
1.96 Fidelity Bank 1.96
9.44 Cable Bahamas 10.21
2.35 Colina Holdings 2.40
5.80 Commonwealth Bank (S1) 6.80
1.90 Consolidated Water BDRs 2.16
1.40 Doctor's Hospital 1.40
5.25 Famguard 5.25
5.88 Finco 5.88
8.77 FirstCaribbean Bank 9.39
4.57 Focol (S) 5.40
1.00 Focol Class B Preference 1.00
5.50 ICD Utilities 7.40
9.80 J. S. Johnson 9.82
10.00 Premier Real Estate 10.00

Previous Close Today's Close

EPS $ Div $
0.123
0.013
0.153
-O.877
0.168

Change Daily Vol.
10.63 0.00

4.40 -0.10

0.18 0.00.

2.70 0.00.

1.96 0.00, 0.016
10.24 0.00. 1.050

2.40 0.00. 0.781

6.80 0.00 0.488

2.07 -0.09 oO.111

1.40 0.00. 0.107
O357
0.682 8.6
0.494 418.0.
0.452 12.1
0.000 N/M
0,012 616.7

S.25 0.00
5.88 0.00,
3.39 0.00.
5.47 0.07
1.00 0.00
7.40 0.00
8,82 0.00 0.859 11.4
10.00 0.00. 1.207 8.3

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

S5S2wk-Hi__S2wk-Low Security
Bahamas Note 6.95 (2029)
Fidelity Bank Note 17 (Series A) +

Fidelity Bank Note 22 (Series B) +

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

Last Sale

Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015

Change Interest
99.46 0.00 6.95%

100.00 0.00 7%

100.00 0.00 Prime + 1.75%

100.00 0.00 7%

100.00 0.00 Prime + 1.75%

Daily Vol.

A look at economic developments and activity in major stock mar-
kets around the world Thursday:

LONDON — Weaker-than-expected economic data from the U.S. and
China and the battle for control of Libya weighed on European stock
markets while a debt rating downgrade of Spain hit the euro a day ahead
of a crucial meeting of European Union leaders.

The FTSE 100 index of leading British shares closed down 1.6 per-
cent, ee DAX fell 1 percent and the CAC-40 in Paris was 0.8 per-
cent lower.

TOKYO — Earlier in Asia, Japan's Nikkei 225 stock average ended 1.4
percent lower after the government said the economy shrank 1.3 per-
cent in the fourth quarter.

China's Shanghai Composite Index closed down 1.5 percent and
Hong Kong's Hang Seng index retreated 0.8 percent.

BEIJING — China reported an unexpected trade deficit in February
as surging prices for oil and other commodities pushed up its import
bill. February export growth plunged to 2.4 percent as businesses
were idled for the weeklong Lunar New Year holiday while imports of
ee ee oil and other goods rose 19.4 percent for a deficit of $7.3

illion.

MADRID — Moody's lowered Spain's credit rating, citing worries
over the cost of the banking sector's restructuring, the government's
ability to achieve its borrowing reduction targets and grim economic
growth prospects.

The agency reduced Spain's rating by one notch to Aa2 and warned
that a further downgrade is possible if indications emerge that Spain's
fiscal targets will be missed, and if the public debt ratio increases
more rapidly than currently expected.

NEW YORK — Oil prices tumbled as economists warned that the
recent surge in fuel prices will eventually hurt the fragile economic
recovery.

WASHINGTON — A surge in oil prices and rising demand for foreign
cars and machinery helped push imports up at the fastest pace in 18
years in January, giving the country the largest trade deficit in six
months.

The January deficit increased 15.1 percent to $46.3 billion, while
exports rose 2.7 percent to an all-time high of $167.7 billion. But
imports rose at nearly twice the pace of exports, to $214.1 billion. A big
jump in demand for a variety of foreign goods from industrial machin-
ery and telecommunications equipment to autos drove the increase.
America's foreign oil bill rose 9.5 percent, underscoring concerns that
higher oil prices could slow the economic growth.

ATHENS, Greece — Greece's finance minister asked the EU to
urgently reform the way ratings agencies are allowed to operate after
what he called "unbalanced and unjustified" downgrades of Greece
and other struggling European economies.

George Papaconstantinou wrote in a letter that a ratings cut of
Greek debt by Moody's this week risked creating damaging self-fulfilling
prophesies."

FRANKFURT — Exports of trade powerhouse Germany slipped 1 per-
cent in January from the previous month, but sales abroad were still
higher than a year ago. Economists at UniCredit said China passed the
United States as an export destination for Germany.

BERLIN — German Chancellor Angela Merkel says her country will
insist that any bailout funds for highly indebted eurozone countries will
only be given out as a last resort and in return for strict austerity pro-
grams.

DUBLIN — Ireland's newly elected prime minister, Enda Kenny,
devoted his first full day on the job to lobbying European Commission
President Jose Manuel Barroso for a better bailout deal and cutting his
Cabinet ministers’ salaries.

LISBON — Debt-stressed Portugal's embattled government came
under further political pressure as Parliament debated a motion of no
confidence brought by a fringe party.

The largest opposition parties refused to support the motion, doom-
ing it to failure, but the debate was an unwelcome ordeal for the
minority government as it defends its economic record.

Markets are heaping pressure on Portugal, one of Europe's fee-
blest economies, as investors demand steep returns for lending the
country money amid fears it may not be able to pay it back.

CAIRO — International ratings agency Standard & Poor's down-
graded Libya's sovereign rating to junk status and suspended its rat-
ings for the country.

BERLIN — Germany froze billions of euros in assets of the Libyan
Central Bank and other state-run agencies, the latest move internationally
to attempt to cut off funding to Moammar Gadhafi's embattled regime.

The German asset freeze came into effect just as the European
Union announced that it was extending its own financial sanctions.

CAIRO — With Egypt's stock market closed for nearly five weeks,
analysts and bankers are growing increasingly worried that the full effect
of the protests that ousted Hosni Mubarak will be even larger than antic-
ipated. For the past few weeks, Egyptian officials have looked to down-
play the potential damage to the economy. They said growth for the cur-
rent fiscal year may take a hit, but the Arab world's most populous
nation would ride through the unrest. That is now being called seriously
into question.

TOKYO — Japan's economy shrank more than initially thought in the
fourth quarter. Real gross domestic product contracted at an annual-
ized rate of 1.3 percent in the October-December period, worse than the
negative 1.1 percent growth reported last month.

SEOUL, South Korea — South Korea's central bank raised its key

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

interest rate for the second time in three months as it steps up efforts
to control inflation that has risen to its highest level in more than two
years.

Symbol Bid & Ask Last Price EPS $ Div $ P/E
Bahamas Supermarkets N/A N/A 14.00 -2.945. 0.000
RND Holdings 0.35 0.40 0.55 0.001 0.000
CFAL Securities Ltd. (OQver-The-Counter Securities)
ABDAB 30.13 31.59 29.00
RND Holdings 0.45 0.55, 0.55,
BISX Listed Mutual Funds
Fund Name NAV YTD%
CFAL Bond Fund 1.5179
CFAL MSI Preferred Fund 2.9486
CFAL Money Market Fund 1.5837

Daily Wo.

4.540
0.002

0.000

0.000 —

NAV 3MTH
1.498004
2.918256
1.564030

NAV GMTH
1.475244
2.910084
1.545071

Last 12 Months %
6.90%
1.45%
4.59%

-15.54%
-O.22%
12.49%
7.18%
5.20%
4.73%
5.35%

BERLIN — German train drivers left thousands of commuters
stranded across the country with a rush-hour strike aimed at pressur-
ing the state-owned national railway and smaller, private operators for
higher pay.

5.51%

0.04%

0.61%
-0.56%
0.61%

9.98%

1.4076
2.8300
1.5141

28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10

2.7049
13.4392
114.3684
106.5528
1.1465
1.1185
1.1491

2.6522 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 FSG Financial Preferred Income Fund

1.0000 FG Financial Growth Fund

1.0000

9.1005

109.392860
100.779540

107.570619
4.75% 105.776543
5.20%
4.73%
5.35%

30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1

10.0000 _ Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2

CAIRO — An official says that the six-nation Gulf Cooperation Coun-
cil has pledged $20 billion in financial aid to Bahrain and Oman over a
10-year period as the two nations struggle with protests that have rav-
aged the Arab world.

9.7950 4.85% 5.45% 30-Nov-10

10.6417 -1.20% 0.50% 30-Nov-10

9.1708 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Int'l Fund - Equities Sub Fund

31-Jan-11
31-Jan-11

10.1266 1.27%
8.4510 0.72%
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
ASk $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

1.27%
4.8105 9.95%
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wicHi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
S41) - S-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

MOSCOW — US. Vice President Joe Biden said Thursday that
Washington supports Russia's accession to the World Trade Organi-
zation because it will lead to greater trade between the two countries,
what he called the "next frontier’ of the relationship.





THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 7B



AOL cuts 900 jobs worldwide,
20 per cent of the work force

BARBARA ORTUTAY,
AP Technology Writers
RACHEL METZ,

AP Technology Writers
NEW YORK

AOL said Thursday it will slash 900
jobs worldwide, or nearly 20 percent of
its work force, partly to eliminate overlap
that stems from its recent purchase of
The Huffington Post.

About 200 of the cuts are from AOL's
content and technology departments in
the U.S. The remaining 700 are at AOL's
offices in India, which mainly provide
back-office support to the U.S. But AOL
spokesman Graham James said 300 of
those will move to other companies,
which are taking over support functions.

Thursday's cuts leave AOL with 3,500
employees in the U.S. and about 500
overseas. The total work force is a fifth of
what the company had at its peak in 2004,
when its staff numbered more than
20,000. The company pared thousands
of workers in the years leading up to its
separation from Time Warner Inc. in late
2009. After the companies broke up,
AOL cut about 2,300 of its then-6,900
employees — or about a third of its work
force — through layoffs and buyouts.

In the ‘90s, AOL was the king of dial-
up Internet access, known for its ubiqui-
tous CD-ROMs and "You've got mail”
greeting in its inboxes. The company
even managed to buy Time Warner at
the height of the dot-com boom in 2001.
But the companies never successfully
melded, and as consumers moved to
faster Internet services from cable and
phone companies, AOL's main source
of revenue dwindled.

Over the past several years, AOL has
struggled to reinvent itself as a company
focused on advertising and content, oper-



(AP Photo/Mark Lennihan)
AT THE HELM: Tim Armstrong, Chairman
and CEO of AOL, talks at a media summit,
Thursday, March 10, 2011 in New York. AOL
said Thursday it will slash 900 jobs worldwide,
or nearly 20 percent of its work force, partly to
eliminate overlap that stems from its recent
purchase of The Huffington Post.

ating a variety of websites such as the
popular tech blog Engadget. Since CEO
Tim Armstrong was lured from Google
Inc. to take the helm of AOL in April
2009, AOL has focused increasingly on
the market for local content, helped by
the purchase and expansion of its net-
work of Patch local news sites.

The company has continued to acquire
sites, too: Most recently, it paid $315 mil-
lion for The Huffington Post as part of its

day.

he added, "in our situation we don't have
the luxury of long-term planning.”
Armstrong said AOL will hire this year

he wants to increase that to 70 percent.

Armstrong maintained his confidence
about AOL's prospects for a comeback. }
"AOL will turn around,” he said. "No }

doubt about that."

But AOL's revenue is contributing less
and less to the overall online advertising }
market in the U.S., eMarketer Inc. ana- }

lyst David Hallerman said.

"If they're going to succeed, they're }
going to be succeeding as asmallercom- }
pany,” he said. "Therefore their success ;

won't be as big."

Although Hallerman said he sees }
promise in the company's efforts to }
establish itself as a local content provider, i
he said the ads that run on these sites }
bring in less revenue than those on its }
more popular websites. That means AOL i
will have to make that up by drawing a
lot of traffic. Clayton Moran, an analyst i
with The Benchmark Co., said that the
changes made since Armstrong took con-
trol are sensible and probably the best }

route the company could take.

But he said the changes "haven't
shown a lot of financial progress. It's tak- i
ing time for the changes to have an }

impact.”

Shares of AOL fell 4 cents to $19.30 in

afternoon trading Thursday.

United Technologies tweaks 2011 earnings guidance

STEPHEN SINGER,
AP Business Writer
HARTFORD, Conn.

United Technologies Corp.
on Thursday raised the lower
end of its profit guidance for
2011, saying businesses such as
elevators, commercial plane
spare parts and heating and air
conditioning systems are doing
well in the economic recovery.

The Hartford conglomerate
told analysts at its annual pre-
sentation in New York that it
expects to earn between $5.20
and $5.35 per share this year,
up from a prior range of $5.05
to $5.35 per share. The parent
company of Otis elevator, Car-

rier heating, ventilating and air
conditioning, Sikorsky Aircraft
and other businesses backed its
2011 revenue forecast of $56
billion to $57 billion.

Chief Executive Louis Chen-
evert credited United Tech-
nologies’ short-cycle businesses
— commercial airline spare
parts and installation and repair
of elevators and building heat-
ing, ventilation and air condi-
tioning systems for the guid-
ance revision.

"We are off to a great start
with continuing strength in our
short-cycle businesses and are
confident of achieving double
digit earnings growth in 2011
in spite of rising commodity
costs and higher technology

investments,” he said. Analysts
surveyed by FactSet are already
expecting earnings of $5.35 a
share and revenue of $57.07 bil-
lion for 2011. United Tech-
nologies shares tumbled $1.97,
or 2.4 percent, to $80.92 in late
trading amid a broad market
selloff.

United Technologies raised
the lower end of its earnings
guidance despite looming prob-
lems.

"We got the Middle East, we
got oil impact potentially but
at the same time ... we have
high confidence," Chenevert
told investment analysts.

Rick Whittington, an analyst
at Sturdivant and Co., said
United Technologies is in a

strong position as the economy }
improves. "The economic cycle }
still benefits UTC businesses," }
he said. The improvements

were already seen last year.

In its 2010 fourth quarter, i
United Technologies said }
stronger results from its airline }
commercial spare parts busi- }
ness and heating and cooling }
building systems operations }
helped push profit up 11.7 per- }
cent. "We've really seen the :
trend of Q4 kind of carry }
through so far in Q1," Chen- }

evert said.

Chief Financial Officer Greg i
Hayes said United Technolo- }
gies’ markets are doing as well }
as executives forecast in }

December.

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, SOLOMON CASH
of Stafford Creek, Central Andros, Bahamas, intend to
change my name to SOLOMON MURPHY. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty (80)
days after the date of publication of this notice.

NOTICE is hereby given that ROBERT WASHINGTON
WILLIAMS, of P.O. Box CB-11983, Greenwood Palm,
Sandilands Village, 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 4"day
of March, 2011 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE
IN THE ESTATE OF LOWELL DOUGLAS BETHEL late of
Governor’s Harbour, in the Island of Eleuthera, one of the Islands
of the Commonwealth of the Bahamas.
Deceased.

NOTICE is hereby given that all person having any claims
against the above-named Estate are required, on or before the
18th day of April, A.D. 2011 to send their names and addresses,
and particulars of their debts or claims, to the undersigned, and
if so required by notice in writing from the undersigned, to come
in and prove such debts or claims, or in default thereof they will
be excluded from the benefit of any distribution AND all persons
indebted to the said Estate are asked to pay their respective debts
to the undersigned at once.

AND NOTICE is hereby also given that at the expiration of the
mentioned above, the assets of the late LOWELL DOUGLAS
BETHEL will be distributed among the persons entitled thereto
having regard only to the claims of which the Executrix shall then
have had notice.

AND NOTICE Is hereby given that all persons indebted to the
said Estate are requested to make full settlement on or before the
date hereinbefore mentioned.

Dated this 6th day of March, A.D., 2011.

c/o PYFROM & CO
Attorney for the Executrix,
No.58 Shirley Street,
P.O. Box N 8958
Nassau, N.P., Bahamas

LEGAL NOTICE
IN the Matter of PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED
(In Voluntary Liquidation)

By Written Consent Resolution of the Shareholders
taken effective on the 2â„¢ day of February, 2011, the
following resolution was adopted:

RESOLVED that the Company voluntarily wind up its
affairs and dissolve its corporate existence and that
Craig A. (Tony) Gomez of Baker Tilly Gomez, The
Deanery, 28 Cumberland Street, PO. Box N-1991,
Nassau, Bahamas, be appointed Liquidator of the
Company for the purposes of such winding up and
dissolution.

DATED the 2" day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

LEGAL NOTICE

PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the aboved named Company is
in dissolution, commencing the 2â„¢ day of February, 2011.
Creditors are required, on or before the 7 day of April
A. D., 2011, to send their names and addresses, and the
particulars of their debts or claims to the attention of Craig
A. (Tony) Gomez, Liquidator of the said Company at the
offices of Baker Tilly Gomez, The Deanery, 28 Cumberland
Street, P.O. Box N-1991, Nassau, Bahamas, and if so
required by notice in writing from the Liquidator, to come in
and prove such debts or claims at such time and place as
shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved or precluded from objecting
to any such distribution.

DATED the 2" day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator



GOVERNOR QUINN SIGNS LAW
TO COLLECT ONLINE SALES TAX

: SPRINGFIELD, Ill,

Illinois consumers may find themselves paying sales tax-

i es on some Internet purchases under a new state law.
efforts to become a go-to source for news

and other content. That deal closed Mon- } from online retailers through an Illinois-based partner.

The law says sales taxes must be charged when people buy

For instance, an Illinois business might sell products

Armstrong, speaking at a conference in } through Amazon.com.

New York, said the company has no :
immediate plans for further layoffs. But ;
: State, but they rarely do.

Online businesses generally don't charge state sales taxes.
Illinois customers are supposed to pay it directly to the

Proponents say the measure that Gov. Pat Quinn signed

Thursday will level the playing field between online busi-

and will try to have more full-time jour- } esses and brick-and-mortar stores. Opponents say it will dri-

nalists in its ranks to rely less on free- : : ee
lancers. He said about half the employees veousincss Ou CeTTinas:

now have content-producing roles, and }

BUY FRESH,
BUY BAHAMIAN

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Fruit ~ papaga, sugarcane, watermelon, coconut, oranges, bananas
Plants ~ flowering trees, avacado, manga, breactrut, governer plum
“i (oods ~ homemade breads, carn bread, aasarted pastries
reserees ~ assorted jell? Siam, honey, Pepper sauces
Mise ” plant beverages, assorted fruit pace, island grits,
islanct salt, scasorimes & sprees

UCDO Og ERS OU PRUs ick ce rr rr



COMMONWEALTH OF
THE BAHAMAS

IN THE SUPREME COURT
Equity Division

KRETWEEN

2010 Mo. 00033

IX THE MATTER OF THE
QUIETING TITLE ACT, 1959

ARO

IX THE MATTER of the Petition of
Clayton Culmer and Sheena Colmer

ASD

IN THE MATTER OF ALL THAT piece parcel or ler

of land situate in the Westem District of the Island of

New Prowkdence containing 26,012 square feet bemp Lot Number
‘Thorty-Two (32) ofthe Subdivision called and known as “Summer
Haven Estates” situate on the Exslerm Side of Blue Hill Road Moth af
Highland Drive and approximately 120 feet North of Marshall Road
which said Lot of land ix hounded NORTHWARDLY by Lot Nursber
Tharty (30) of the saed Subdivision and runming thereon One Hundred
and Sixteen and Filty-Two hundredths (1 16.52") feet EASTWARDLY
by a portion of Lot Number Thirty-one (21) and Lot Number Thirty
Three (33) of the said Subdivision and running thereon One Hundred
and Seventy Four and Seventeen Hundredihs (174.177) feet
SOUTHWARDLY by the said Highland Drive and running thereon
(One Hundred and Eighty Two and One Handredths (182.10") feet and
WESTWARD by the said Blue Hill Road and running thereon Cine

Hundred and Fifty Nine and Ninety Two Hundredths (159.92) feet
which said pacce parcel or lot of lend and has such position, boundaries,
shape, marks and dimensions as are more particularly delineated on the
Plan filed with the Department of Lands and Surveys being Plan No.
5130 6.P

NOTICE

The Petitioners Clayton Culmerand Sheena Culmer claims to be the
ouner of the for simple bot of land in possessaon the tract of land
hereinbefore described free froon encumbrances

And the Petitioner has made applocation to the Supreme Court of the
aforementioned Commonwealth of the Bahamas under Section 3 of the
Quicting Toles Act, 1959 in te abowe action, to have this title to the
said tract of land investigated and the manure and extent thereof
Getermined and declared in a Certificate of Title to be granted in
accom@ance with the provisions af the saad Auct

Notice ts hereby given thal any person having a Dower or a right to
Dower or an adverse to claim or a claim not recognized in the Petitios
shall on or before the expiration of Thirty (30) days after the final
publication of these presents file in the said Registry of the Supreme
Court and serve on the Petitioner or the undersigned a Statement of his
claim m prescribed form verified by an affidavit to be filed therewith.
Failure of any such person to file and serve a Statement of his Claim on
or before the expiration of Thirty (30) days after the final publication af
these presents shall aperate a a har to such claims.

Copies of the said plan may be inspected during monmal hours at the
Registry of the Supreme Court, East Street Nerth, Massam, NP,
Bahamas or the Chambers of C. Yvette McCartney, Building No. 10,
Seventh Terrace West, Centreville, Nassau, Bahamas
Dated the 15" day of Febeuary, A.D., 2001





PAGE 8B, FRIDAY, MARCH 11, 2011

THE TRIBUNE






CiiNe
S&P lowers



Lihya ratings

TAREK EL-TABLAWY,
AP Business Writer
CAIRO

International ratings agency E

Standard & Poor's on Thurs-
day downgraded Libya's sov-
ereign rating to junk status
and suspended its ratings for
the country. Also, the rebel-
led government in the
nation's east said it would
honor existing contracts with
international oil companies.
The twin developments
spotlighted the challenges
confronting an oil-rich nation
that just weeks ago was well
on the path to redemption
after enduring years of sanc-
tions as a pariah supporter of

eign credit ratings for Libya to } Ching the US. and Spain com-

BB/B from BBB+/A-2, and
removed the ratings from
CreditWatch negative. It also
said it decided to suspend its
ratings on Libya "due to the
imposition of sanctions and
because of a lack of reliable
economic and political infor-
mation."

GCC pledges $20 billion
in aid for Oman, Bahrain

TAREK EL-TABLAWY,
AP Business Writer
CAIRO

pledged $20 billion in finan-
cial aid Thursday to Bahrain
and Oman, and warned
against any foreign interfer-
ence as the oil-rich region
struggles to rein in the unrest
that has ravaged the Arab
world and sent global oil
prices spiking.

The growing protests in
Bahrain and Oman — the
poorer brothers in the oil-rich



BUSINESS

i FRANCESCA LEVY,
i AP Business Writers
i MATTHEW CRAFT,

i AP Business Writers
? NEW YORK

terrorism. S&P said it lowered }
its long- and short-term sover-

Weak economic news from

i? bined with a slump in oil com-
? panies sent stocks sharply low-
i er Thursday.

Investors were jarred when

i China reported a surprise trade
i deficit in February. China's
? exports fell as businesses closed
? for the weeklong Lunar New
? Year holiday, but imports of
i higher-priced oil and other
? goods jumped, widening the
i country's deficit to $7.3 billion.

Meanwhile Moody's down-

i graded Spain's debt, re-igniting
i fears about the European debt
:? crisis. The downgrade also sent
i the dollar higher against the

region — have rattled the oth-

er members of the six-nation
Gulf Cooperation Council,
raising concerns that the
unrest tearing through the
Middle East will affect the
key OPEC members.

The GCC pledged $20 bil-
lion in aid over 10 years to be
split between the two nations,
said the United Arab Emi-
rates' foreign minister, Sheikh
Abdullah bin Zayed Al
Nahyan. A committee repre-
senting the donor nations will
meet in two weeks to discuss
the program. Foreign minis-

ters from the GCC announced

the measures after a meeting
in the Saudi capital, Riyadh.
The bloc also issued a state-
ment warning that it would
not allow any foreign interfer-
ence in their affairs.

Sony wins the release of
PlayStations seized by Lé

AMSTERDAM

A Dutch court Thursday
ordered LG Electronics to
release 300,000 Sony PlaySta-
tion 3s seized on its behalf by
Dutch customs officials earlier
this month as part of a patent
dispute case. The summary

Court was a short-term win
for Sony, as it can now regain
possession of the consoles and
resume distributing them.

But LG's aggressive pursuit
of its claim was a sign of the
high stakes both sides have in
their wider intellectual prop-
erty war. The court did not
immediately publish a written
version of its ruling, but
details were reported by De
Telegraaf, the Netherlands’
largest newspaper, and sever-
al video game fansites who
had reporters at the hearing.

Gulf Arab foreign ministers euro.

News that forces loyal to

das
PAU aaa

Libyan leader Moammar Gad-
hafi were poised to recapture
the strategic oil port of Ras
Lanouf from opposition forces
sent oil down in the morning.
But it jumped after Saudi Ara-
bian police fired at protesters.
In the late afternoon, crude oil
was trading below $103 a bar-
rel, below the high of nearly
$107 a barrel it reached on
Monday.

Stocks fell broadly, but ener-
gy companies were hit the hard-
est. Exxon Mobil Corp., the
largest company in the world
by market value, fell 3 percent.
Chevron Corp. also fell 3 per-
cent.

Oil has been surging over the
past few weeks because of the
spreading protests in North
Africa the Middle East. Libya
produces less than 2 percent of
the world's oil supply, investors
have been worried that unrest
will spread to major oil-pro-



(AP Photo/Richard Drew)
TOUGH TIME: Specialist Christopher Culhane works at his post on the
floor of the New York Stock Exchange Thursday, March 10, 2011.

ducing countries like Saudi
Arabia and disrupt the flow of
crude.

The Dow Jones industrial
average fell 204 points, or 1.7
percent, to 12,008. The Dow
had been down as many as 224
points earlier, sending it briefly
below 12,000.

Wal-Mart Stores Inc. and
McDonald's Corp. were the
only stocks in the Dow 30 that
rose. McDonald's was up 1.6
percent after reporting that
sales at restaurants open at least
a year rose more than expected.

The Standard & Poor's 500
index fell 21, or 1.6 percent, to
1,298. Energy companies fell 3
percent, the most of any indus-
try tracked by S&P. The last
time the index closed with a 20-
point drop was March 1, when
Federal Reserve Chairman Ben
Bernanke warned that a sus-
tained increase in crude prices
could pose a risk to the recov-

Stocks plunge on economic
news and oil price swings

ery. Only a handful of S&P 500
companies rose. Starbucks
Corp. rose 10 percent after
cementing a deal with Green
Mountain Coffee Roasters Inc.
to sell drinks in machines made
by Keurig. Netflix Inc. rose 4
percent.

The Nasdaq composite fell
43, or 1.6 percent, to 2,708.

Apart from several sharp
swings in the last month, stocks
have been rising nearly contin-
uously since last August, when
the Federal Reserve said it
would take steps to stimulate
the economy. Wednesday
marked two years since stocks
bottomed out at 12-year lows.

Quincy Krosby, chief market
strategist at Prudential, said the
market was shaken by the com-
bination of unexpectedly weak
economic news from China, the
downgrade of Spain's debt and
concerns that protests planned
for Friday in Saudi Arabia
could bring instability to the
world's largest exporter of oil.

"The tone of the market has
clearly changed,” Krosby said.
"The market trend had been to
buy rather than sell and that
bad news doesn't matter. The
momentum is slowing.”

The government reported
before the market opened that
new applications for unem-
ployment benefits rose more
than expected last week and
the trade deficit jumped in Jan-
uary. New unemployment
claims rose by 26,000, far more
than the 12,000 analyst had
expected. Applications fell to
nearly a three-year low the pre-
vious week.



SUPPLY WORRIES

: NEW YORK

: Grain prices fell Thursday after a government report
? eased concerns about shortages later this year.

: The U.S. Department of Agriculture predicted that
? corn and soybean reserves will be higher than initially
i? estimated, forecasting there will be about 123.1 million
i metric tons of corn left over after this year's harvest.
: That's up from an estimated 122.5 metric tons in last
? month's report. There should be about 58.3 million
i metric tons of soybeans left over, compared with last
? month's estimate of 58.2 million.

Corn for May delivery dropped 18.25 cents to $6.8275
i a bushel. Wheat also fell 18.25 cents to $7.405 a bushel.
i Soybeans rose 6.5 cents to $13.555 a bushel.

i Lower reserves caused global grain prices to double
? this year. Corn was trading for just $3.50 a bushel as
? recently as this summer. But growing demand from
? ethanol producers and consumers in developing coun-
i tries like China has stripped supplies. The government
: predicts corn reserves this year will be at their lowest lev-

i elin 15 years.

i: The longer-term trend for corn and soybeans will
i probably be higher, Sanow said, because global demand
? remains strong. But in the near-term, the recent run-up

i in prices is likely to ebb.

: The government estimates that food prices could rise
? more than 3 percent this year as processed food makers
: and grocery stores pass along higher costs for raw ingre-
i dients. Still, crops like corn and soybeans account for just
i 10 percent of the raw ingredients used in processed
? foods. So it can take months for higher prices to reach

ow ry £ consumers.
decision by the Hague District }

Oil prices fell Thursday on weak economic news from
? the U.S. and China, but regained some of their losses on
i reports from Saudi Arabia that police had fired on

i demonstrators.

? Oil fell as low as $100.62 Thursday morning, the low-
i est price in a week. The reaction to the Saudi develop-
? ment shows how sensitive the market is to news from the
: Middle East. Oil prices soared above $100 per barrel last
? week as an uprising in Libya essentially shut down the
i country's exports. Earlier in the day, economists were

i warning that the recent surge in fuel prices will even-
i tually slow economic growth.

? The economic news helped cause the earlier oil sell-
? off. China, which is expected to drive oil demand for
i years to come, reported overnight that surging oil and
? commodity prices produced a surprising trade deficit

i of $7.3 billion for February.



(AP Photo/Seth Perlman, file)
FALLING PRICES: In this Sept. 11, 2010 file photo, central Illinois farmers har-
vest their corn crops near Monticello, Ill. U.S. reserves of corn have hit their
lowest level in more than 15 years, reflecting tighter supplies that will lead to
higher food prices in 2011. Increasing demand for corn from the ethanol
industry is a major reason for the decline.

US: MORE PEOPLE
SOUGHT JOBLESS
AID LAST WEEK

CHRISTOPHER 8S.
RUGABER,

AP Economics Writer
WASHINGTON

The number of Americans
seeking unemployment bene-
fits rose last week. But the rise
comes after applications hit
their lowest level in nearly three
years, and economists expect
further declines as the economy
improves.

Applications increased by
26,000 to a seasonally adjusted
397,000 during the week end-
ed March 5, the Labor Depart-
ment said Thursday.

The latest report covers the
week after the Presidents' Day
holiday (Feb. 21), when many
government offices were closed.
Applications usually rise in
weeks following holiday-short-
ened weeks. The four-week
average, a less volatile measure,
rose to 392,250. The average
fell to its lowest level since July
2008 two weeks ago.

Applications below 425,000
signal modest job growth. But
they need to fall consistently
below 375,000 to signal a sus-
tained decline in the unem-
ployment rate. Unemployment
benefit applications peaked
during the recession at 651,000.

Economists were encouraged
that claims remained below
400,000 for the third straight
week. "We still interpret the
data as consistent with strength-
ening job creation,” said John
Ryding, an economist at RDQ
Economics.

A separate report Thursday
showed that a sharp rise in oil
prices helped push imports up
at the fastest pace in 18 years in
January. That caused the USS.
trade deficit to widen to its
largest level in six months.

The January trade deficit
increased 15.1 percent to $46.3
billion, the Commerce Depart-
ment said. Exports rose 2.7 per-
cent to an all-time high of
$167.7 billion. But imports rose
a faster 5.2 percent to $214.1
billion due to a big jump in
America's foreign oil bill. That
underscores concerns that surg-
ing oil prices could derail the
economic recovery.

Companies are hiring more,
after months of sluggish job cre-
ation. Employers added 192,000
jobs last month, the most in
nearly a year. The unemploy-
ment rate ticked down to 8.9
percent, the lowest level since
April 2009. More jobs should
boost incomes, which would
fuel more consumer spending
and in turn spur more econom-
ic growth and hiring. Federal
Reserve Chairman Ben
Bernanke referred to this cycle
last week when he said there is
"increased evidence that a self-
sustaining recovery in consumer
and business spending may be
taking hold."

At the same time, Bernanke
said, "until we see a sustained
period of stronger job creation,
we cannot consider the recov-
ery to be truly established.”

Economists worry that sev-
eral factors could slow or even
reverse the recovery, including
rising oil prices and state and
local government cutbacks.

Plenty of hiring is taking
place. Kohl's Department
Stores Inc. said Wednesday that
it is opening nine stores in sev-
en states, including Illinois,
New York, Virginia and South
Dakota. The move will create
1,200 jobs, the retailer said.

Thursday's report also
showed the number of people
receiving unemployment ben-
efits dropped by 20,000 to 3.77
million. That's the lowest level
since mid-October 2008. And
fewer people are receiving ben-
efits under emergency unem-
ployment aid programs funded
by the federal government.

An additional 4.3 million
unemployed workers received
benefits under the extended
programs during the week end-
ing Feb. 19, a drop of about
200,000 from the previous
week.





iV)

Pim blowin’ it

78F
65F

HIGH
LOW

SUNNY AND

~ WINDY

Volume: 107 No.91

eS ey

HELP

AND REAL ESTATE
SU Sa



VN eS

The I

ribune

LATEST NEWS ON WWW.TRIBUNE242.COM



FRIDAY, MARCH 11, 2011

Criminally -minded’
paid in BIG protest

Police association claims
some demonstrators were

‘advancing political groups’

By NOELLE
NICOLLS
Tribune Staff
Reporter
nnicolls@
tribunemedia.net

CRIMINALLY-
MINDED people
were overheard to say
they had been paid to
participate in the BTC
mass protest of Febru-
ary 23, according to
the Police Staffers Associa-
tion.

And it is also undeniable
there were people in the
crowd with potential criminal
motives, said Dwight Smith,



DWIGHT SMITH

Police Staff Associa-
tion (PSA) president.

The association yes-
j terday called on politi-
cians to stop politicis-
ing the issue, because
the observation of
these participants by
police was simply a
part of their job to
maintain law and
order and to ensure
the safety of protest-
ers and observers.

Mr Smith said the police
had a difficulty with partici-
pants in the protest who had
“nothing to do with BTC,”

SEE page eight

URCA APPROVES ACQUISITION OF BIC

THE Utilities Regulation & Competition Authority last
night approved Cable & Wireless Communications’ (CWC)
acquisition of a 51 per cent stake in the Bahamas Telecom-
munications Company (BTC) on the grounds it would not
lessen competition in any of the services the state-owned
incumbent currently offers.

The industry regulator rejected concerns that CWC would use
the extended three-year cellular monopoly to “impede the
growth of competition” in other markets.

e SEE BUSINESS SECTION FOR FULL STORY

glowed CEE TOG

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1 ff

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



PARENTS OF BABY
WHO DIED IN
PMH “UNABLE TO
GET COMPLETE
MEDICAL RECORDS’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE parents of a prema-
ture baby who died in the
Princess Margaret Hospital
claim they have been unable
to obtain their son's complete
medical records — documents
they need in order to get a
second opinion on their
child's illnesses and cause of
death.

For more than a year, Pan-
telis and Claudia Tsakkos

SEE page eight



Photo/Ronnie Archer

THE FIRST STEP: College of the Bahamas students line up to fill out job applications at a career and job fair yesterday. Norma
Turnquest, co-ordinator of the fair, described it as a networking event for both students and businesses.

POLICE CALLED AFTER ROAD WORKERS
TOLD PAY NOT IN THEIR BANK ACCOUNTS

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE were called to
calm a group of road workers
from the Jose Cartellone
Construction Company who
were outraged that they
could not collect their wages
from the bank yesterday.

The group of more than 20
workers caused a scene at the
Shirley Street location of
Bank of The Bahamas after
they were told their pay was
not in their bank accounts.
The men then left the bank

NOWIS THE TIMETOUPGRADE
OR INSTALL YOUR NEW BATHROOM ~~

IOPS



and remained outside until
officers quelled the rowdy
crowd, police said.
However, a representative
from the company — which
was hired by the government
to carry out the New Provi-
dence road improvement
programme — said the whole
ordeal was a "misunder-
standing" because the men
went to the bank a day early.
After officers explained
that their wages would be
available at the bank today,
the men left the scene peace-

SEE page nine

Wilton Street

ee ere

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER

|)

e SEE PAGE FIVE

ROAD CLOSURES ‘UNAVOIDABLE’ AS
IMPROVEMENT WORK CONTINUES

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

A TOP official at the Min-
istry of Works says road clo-
sures will be unavoidable as
the government works to com-
plete several road improve-
ment jobs for the benefit of the
entire island.

During a press conference
held yesterday to address con-
cerns expressed by business
owners in the Prince Charles
Drive and Fox Hill Road area,
Permanent Secretary Colin
Higgs explained that as a result
of the physical constraints of

the eastern corridor, some
road closures and diversions
are necessary and unavoidable.

The roadworks on Fox Hill
Road and Prince Charles Dri-
ve are part of the $120 million
New Providence road
improvement and infrastruc-
ture project.

However, business owners
in the area became angry over
the loss of trade on Tuesday
after contractors closed a por-
tion of the road.

But Mr Higgs insisted the
works are necessary, not only
to improve road networks and

SEE page nine

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Acuacer White Toilet a! Seat





PAGE 2, FRIDAY, MARCH 11, 2011

THE TRIBUNE





Minister ‘amazed’ by
Christie’s comments on
laid-off workers initiative

MINISTER of Labour Dion
Foulkes said he was “amazed”
by comments made by Perry
Christie, leader of the opposi-
tion, about the government’s
initiative to support laid-off
workers in Grand Bahama.

He said: “I would have
thought that the opposition
would have supported this ini-
tiative and commended the
various agencies and depart-
ments participating including
the private sector who came
forward.

“Whenever you are termi-
nated or dismissed, it is a very
traumatic experience in a per-
son’s life. It is at that time that
they need support and a help-
ing hand.

Employees

“To come out and to criti-
cise what we did, I thought it
was an insult to Grand
Bahamas and especially to the
former employees of Our
Lucaya,” said Mr Foulkes.

He said the government
found out about the layoffs just
over a week ago. He said the
matter was discussed in a Cab-
inet meeting that same morn-
ing, and the government came
up with a plan.

“All of us agreed that we

a
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would not say anything pub-
licly about it until the manage-
ment had an opportunity to
meet with the staff. That meet-
ing was scheduled for Friday.
We did not want staff mem-
bers or family members of staff
members finding out about this
exercise through the House of
Assembly or through a press
release from the government.
We thought that request was
a reasonable request,” said Mr
Foulkes.

He said the government
informed all of members of
parliament from Grand
Bahama, and instructed them
not to say anything about it
until the staff was first
informed. He said the govern-
ment’s programme was
approved last Thursday and
assistance was rendered on
Monday.

“T don't know what Mr
Christie is talking about. But
going on his past record I don't
think he is in a position to crit-
icise us in terms of our
response. When hundreds of
persons were laid-off at Royal
Oasis here in Grand Bahama,
the PLP did absolutely noth-
ing to assist. Nothing.

“When we came to power in
2007 we had to complete the
payment of severance pay to

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LOCAL NEWS

those workers. Millions of dol-
lars we had to allocate in our
budget — millions of dollars,”
said Mr Foulkes.

“The Sea Hauler victims,
when we came to power, we
had to settle up with them. It
was a ex-gracio payment. We
were not forced to, but we
thought that was the right
thing to do. We thought that
was the Christian thing to do
and we gave those families $1
million.

Criticism

“The CLICO employees,
we have settled up with them,
all of their legal entitlements.
So I think that the criticism
from the opposition, and in
particular the leader of the
opposition, is unfair and I
think it is insensitive, espe-
cially when people are hurt-
ing,” he said.

Mr Foulkes noted that a del-
egation of PLP members went
to Grand Bahama on Monday.
He claimed they met only with
the management of Our
Lucaya.

“They did not take the time
out to come down to the centre
and meet with the workers
who were fired. They didn't
take a minute to stop there and

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meet the people. And they
flew right back to Nassau.
Zhivargo Laing, along with
four other FNM parliamentar-
jans, spent hours there,” said
Mr Foulkes.



MINISTER OF LABOUR
Dion Foulkes



PLP LEADER
Perry Christie



A WHOPPING 15-pound crawfish (spiny lob-
ster) was caught by fishermen and brought to
The Tribune this week. Lllewelyn Fox proudly
displays the lobster, which he said his son pur-
chased on Potter’s Cay dock.

PHOTO/RONNIE ARCHER

Vendors say lack of Cabbage Beach
bathrooms ‘creating health concerns’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

VENDORS on Cabbage Beach say a lack of
bathroom facilities on the beach is giving the
country “bad publicity” and creating health con-
cerns.

They claim most of the hundreds of tourists
who use the Paradise Island beach on a daily
basis are cruise ship passengers, who are forced to
use the bush as a bathroom.

Atlantis and RIU facilities are for guests only,
they say, and bathrooms at the Sunrise Beach
Club are limited to people who patronise the
beach bar.

“Tt is am embarrassment. People always ask us
where they can find the bathroom. You have no
response,” said one vendor.

However, a spokesperson for Atlantis denied
that only guests of the resort have access to its
bathrooms.

He said: “Vendors and non-hotel guests on
the eastern end of our property have access to the
Cave Bar and Grill bathrooms and vendors and
non-hotel guests on the western end of our prop-
erty have access to the bathroom facilities at the
Lagoon Bar and Grill.

“Vendors are aware of this as they use our
restroom facilities on a daily basis, as do cruise
ship and non-hotel guests.”

Vendors say they wanted the bushy piece of
vacant land near the RIU to be turned into a
green space with public bathrooms.

They claim a plan to use porta-potties was
blocked because of the difficulty in creating
access for persons to service the units.

The Ministry of Tourism and Aviation
(MOTA) licenses a number of vendors — hair
braiders, coconut vendors, those who rent out
lounge chairs, massage therapists — to operate
on the beach.

One operator said the peak day is Saturday,
when 300-plus visitors use the beach.

Vincent Vanderpool-Wallace, Minister of
Tourism, said he is “certainly aware of the con-
cern”.

He said there is no doubt the issue needs to be
addressed “as a priority”, but added it would
involve much more than “just putting toilets on
the beach”.

“It is a subject of much discussion. We wish

there was a simple resolution,” said Mr Vander-
pool-Wallace, citing property rights as one of
the main obstacles.

When asked for comment on the issue, Min-
istry of Environment officials pointed out that the
beach is not public, so the government is not
responsible for managing the beach or providing
public bathroom facilities.

According to an informed Tribune source,
legally speaking, members of the public have a
limited right to “traverse the coast up to the high
water mark”, but this does not mean all beaches
are public — despite the widespread popular belief
to the contrary.

Beaches are public only when they sit on
Crown Land. Private land owners are not oblig-
ated to provide beach access for the public.

The source said the public cannot have access
to all beaches without a change in the law.

With respect to Cabbage Beach, he said, ven-
dors, visitors and members of the public “don’t
have a right to it”, even though there is an
arrangement between Atlantis, the MOTA, ven-
dors, and the public.

A vendor said: “We have been given permis-
sion by the Ministry of Tourism. (The hotels)
can't kick us off the beach, but they can give us a
very difficult time. The tide can be very volatile,
so sometimes people have to encroach on hotel
property by putting their lounge chairs there.
Even though the area is not being utilised, in
the past they have had their security take away
everything we had on the beach. They can make
it difficult for you, because they can always con-
fiscate your stuff.

“Tt is a serious balance we have to weigh. In the
meantime, the guests are being affected aversely
in that regard,” he said.

Mr Vanderpool-Wallace said FNM govern-
ments have negotiated unprecedented beach
access for the public, with a comprehensive sys-
tem of signs designating public access areas. He
said the government received a fight in some
instances from private land owners, so it had the
difficult task of balancing interests.

He said the government is also mindful of
capacity concerns.

“We have a situation right now on public hol-
idays where there are certain beaches that reach
capacity level. We have to as a government,
decide what is going to be the maximum use of
any private or public space,” he said.

NS Re ay eT e

POLICE are asking the public to help them locate 37-year-
old Randon Burrows who is wanted for questioning in rape and

burglary investigations.

Burrows, who also goes by the alias “Randon Beaver”, is
known to have last resided at #74 Podoleo Street in New Prov-

idence.

He is described as having a dark brown complexion; 5’8” tall
and weighing about 160 lbs with a medium build.
The Central Detective Unit warns that Burrows is considered

armed and dangerous.

Anyone with any information concerning Burrows’ where-
abouts should immediately contact police by calling 919 or
911; the Central Detective Unit by calling 502-9930/9991; the
Police Control Room on 322-3333; Crime Stoppers on 328-

8477; or contact the nearest police station.



RANDON BURROWS



E TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE



ol e7-N i AES)



olice Staffers Association
asks Mitchell for apology

|OELLE NICOLLS
ine Staff Reporter
lls@tribunemedia.net

[E Police Staffers Associ-
has asked for an apology
Fred Mitchell, opposition
ssman on the public ser-
for what they believe were
raging comments he made
t the Security and Intelli-
> Branch.
vight Smith, PSA presi-
said equating the inves-
ve process of SIB officers
ig vetting of public ser-
to “gossip and trivia” is a
gainst the integrity of the

‘e wish not for any gov-
ent or political opposition
e the police as a tool for
cal agendas. Superinten-
Robert Young, who heads
is doing a wonderful job.
n you make a bold state-
speaking to their integri-
yu destroy the morale of
sntire team,” said Mr
1.

tlier this week, Mr
hell cautioned against
-SIB reports as the pri-
basis for decision mak-
Te said the common prac-
vas for SIB reports to be
ated in the minds of the
iucracy to too high a lev-

The PSA said it is not trying
to “beat up on anyone, whether
government or the opposition”,
but it has a responsibility to
address “concerning” issues
that are “direct and personal
with the police”, and speak to
work conditions and morale.

He said public servants are
often the innocent bystanders
in political squabbles.

Mr Smith claimed rank and
file officers from the SIB came
to the association to express
their discontent with Mr
Mitchell’s comments.

He stressed that he was
speaking on behalf of the PSA
and not the Police Force or
SIB.

Mr Smith said he and Mr
‘Young did not discuss the mat-
ter.

“We have a grave difficulty
with what is being said. Now
we have to go and motivate
officers at SIB who are doing a
wonderful job. There must be
an apology given to the hard
working men and women at
the RBPF,” said Mr Smith.

He said the police run an
information-based operation
that relies on co-operation
from the public, and any action
that unfairly creates concern
about the competency of the
police only serves to under-
mine the force.

When contacted for com-
ment, SIB head Officer Young
said he doesn’t think any actu-
al damage has been done by
Mr Mitchell’s comments.

He added: “No vetting
process is based on hearsay or
gossip. You cannot malign peo-
ple’s character or impede their
job progress on the basis of
gossip. We would not operate
on that fashion.

“All of the reports are confi-
dential. Whatever information
we get we verify that informa-
tion.”

He said any further com-
ment would have to be sought
from the Commissioner of
Police.

Responding to the Staff
Association yesterday after-
noon, Mr Mitchell said: “Any
and all of the comments made
by me at any time are directed
at politicians and policies and
not at public servants. The
comments are about public pol-
icy. That should be crystal clear
from the content and context of
the remarks.

“The police as a disciplined
force are to be neutral in their
responses and reactions to these
matters. That is in the very
nature of a disciplined force.

“T expect that the Security
and Intelligence Branch of the
Royal Bahamas Police Force



DESTROYING MORALE: Police Staffers Association president Dwight
Smith held a press conference to ask for an apology from PLP MP Fred

Mitchell.

will continue to conduct them-
selves in the same politically
neutral and above board fash-
ion as their training dictates,”
he said.

“Police officers do not dabble
in political matters. As a politi-
cian, I have tried scrupulously
to avoid a tit-for-tat with public
servants, who must serve PPS,
FNMs and in betweens. That
is the nature of their jobs, to
serve all without fear or favour.
I do not intend to start now.”



chell calls on UK govt to ‘restore parliamentary democracy’ in Turks & Caicos

AUL G TURNQUEST
ine Staff Reporter
quest@tribunemedia.net

TH civil unrest brewing
1e Turks and Caicos
ids, PLP MP Fred
hell called on the British
rnment to restore parlia-
ary democracy and bring
id its two year stint in
t control of that nation.
r the past few days, pro-
rs in the Turks and
os have taken to the
ts demanding an end to
dministration headed by
sritish governor, which
been in place since
Ist 2009.

e islands are a British
seas Territory, and the
povernment disbanded
ocally elected adminis-
yn and suspended its leg-
ire after a Commission
quiry found widespread
iption under the admin-
ion of the islands’ for-
Premier Michael Misick.
ting that the PLP has for
time been issuing state-
ts on this matter, Mr
1ell reiterated his party’s
ion that the British were
g in taking away democ-
in the Turks and Caicos.
is not an issue which we
sht would go away given
lisquiet on both sides
t what the British has
. And the longer it goes
e more there is going to
ternal pressure, particu-
given the suspension of
of the rules of justice as
ates to the offences they
nvestigating and more
rtantly the fact that the
sh cannot say when they
estore democracy.

hose who have talked to
ym the Turks and Caicos
ds, we have said to them
it is important for them
t together and to pub-
demonstrate their con-
about the fact that direct
till exists and there is no
table for a return to
ocracy. And so we are
urprised. All that we say
it should be peaceful,
should continue to work
ry to get democracy
red, and we urge the
sh to restore democra-
1e said.

Mitchell added that it
paramount importance
the people of the Turks
Caicos remain united in
truggle, as a “one-sided”
st will not get the job

he people of the Turks
Caicos Islands have to
onstrate together that
are concerned about this
. There is the CARI-
[ meeting which just took
, or is coming up, and I
n’t seen the results of the
ing; the inter-sessional
took place. I think our
ty prime minister went,
was hoping that at that

time the parties from the
Turks and Caicos Islands
would have both gone to the
meeting and made some
attempt to have CARICOM
issue even stronger state-
ments with regard to this.
“And we have undertaken
with the parties in the Turks



Oe A elas

and Caicos Islands to do
whatever we can to assist in
trying to get them in contact
with other governments in the
Caribbean, and also the gov-
ernment here in the Bahamas
to try and put some addition-
al pressure on the British to
resolve this issue,” he said.

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Man arraignet
court on char
of death threat

LAWRENCE Harris
alias Lawrence Ambrist
alias Vernal Ambrister,
of Sandilands Village R«
was arraigned in Court |
yesterday, charged with
making death threats.

It is alleged that he m:
the threats to Shashuna
Russell on Tuesday, Ma
1

It is further alleged th
he assaulted Shashuna F
sell with a handgun.

Harrison, who was
arraigned before Magist
Subu Swain, pleaded no
guilty to both charges.

He was granted $1,00(
bail on the threats of de
and $3,000 bail on the
assault charge.

The case has been
adjourned to August 22,
2011.

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PAGE 4, FRIDAY, MARCH 11, 2011

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

TELEPHONES
Switchboard (News, Circulation and Advertising) 322-1986

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

Women abused if refuse to cover head

GROZNY, Russia — The cars pull up in
broad daylight. Security forces point guns
at terrified women and shoot. It turns out
they're paintball pellets, but still harsh pun-
ishment in Chechnya for leaving home with-
out a headscarf.

Chechnya's strongman Ramzan Kady-
rov has imposed an Islamic dress code on
women, and his feared security forces have
used paintball guns, threats and insults
against those refusing to obey. In a 40-page
report released Thursday, Human Rights
Watch condemned the campaign as a fla-
grant violation of women's rights and urged
other nations to raise the issue with Moscow.

"The enforcement of a compulsory Islam-
ic dress code on women in Chechnya violates
their rights to private life, personal autono-
my, freedom of expression, and freedom of
religion, thought, and conscience," the report
said. "It is also a form of gender-based dis-
crimination prohibited under international
treaties to which Russia is a party."

Kadyrov rules with the support of Prime
Minister Vladimir Putin, who has counted on
him to stabilize the mostly Muslim region in
southern Russia after two separatist wars in
the last 16 years. Russian authorities have
turned a blind eye to the treatment of
women and other rights abuses in Chech-
nya.

p Human Rights Watch interviewed dozens
of women who have experienced or wit-
nessed attacks or harassment for their refusal
to adhere to the Islamic dress code.

One of the victims, identified as Louiza,
told the rights group that she and a friend
were attacked while walking down Putin
Avenue in Grozny on a hot day last June,
wearing skirts a little below the knee, blous-
es with sleeves a bit above the elbow and no
headscarves. Suddenly a car without a
licence plate pulled up, its side window rolled
down and a gun barrel pointed at them.

"T thought the gun was real and when I
heard the shots I thought: 'This is death,'"
she recalled in the report. "I felt something
hitting me in the chest and was sort of
thrown against the wall of a building.

"The sting was awful, as if my breasts
were being pierced with a red-hot needle, but
I wasn't fainting or anything and suddenly
noticed some strange green splattering on
the wall and this huge green stain was also
expanding on my blouse."

The 25-year-old woman said her friend
was hit on her legs and stumbled to the
ground. Men dressed in the black uniform of
Kadyrov's security forces looked out of the
car's windows, laughing and sneering.

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"It's only at home that I could examine
the bruise and it was so huge and ugly,"
Louiza recalled. "Since then, I don't dare
leave home without a headscarf."

Another target, a 29-year-old woman
whose name was not given, said she was
walking down the same central avenue in
June with two other women, all without
headscarves, when two cars stopped nearby
and bearded men in black uniforms fired
paintball guns at them, screaming: "Cover
your hair, harlots!"

The woman told Human Rights Watch
that she knows 12 women who were shot at
with paintball guns in June. Overall, at least
50 or 60 women were targeted, the rights
group said. Threatening leaflets also
appeared on the streets of Grozny, warning
women that those who fail to wear head-
scarves could face "more persuasive mea-
sures." The women interviewed by Human
Rights Watch interpreted that as a threat
to use real weapons.

Kadyrov's security force has been blamed
by rights activists for abductions, torture
and extrajudicial killings in Chechnya.

In July 2009, the director of the Chechen
office of Russia's Memorial rights group,
was abducted near her home in Grozny and
found shot to death along a roadside a few
hours later. Natalya Estemirova had pub-
licly criticized the Islamic dress campaign
as a violation of Russian law, angering Kady-
rov who had threatened her with repercus-
sions.

A few weeks after the paintball shootings,
Kadyrov told local television that he was
ready to give awards to the men who carried
out the attacks and that the targeted women
deserved the treatment. There was no
response from the federal authorities.

The paintball attacks ended in mid-June,
having achieving Kadyrov's objective. The
majority of women are now too scared to
enter the centre of Grozny without head-
scarves or dare to complain against the
"virtue campaign."

At Chechen State University in Grozny
this week, all females students wore head-
scarves and, toeing the official line, defend-
ed the practice as part of local tradition and
a sign of respect for Islam.

"The headscarf is part of our religion,
part of our faith,” said Seda Sabarova, 18.

Kadyrov also scoffed at criticism of his
effort to enforce an Islamic dress code,
telling foreign reporters that headscarves
make women beautiful.

(This article was written by Vladimirl
Isachenkov of the Associated Press).



Migrating
from a culture
of blame to
responsibility

LETTERS

EDITOR, The Tribune.

I wonder what it is going to
take for we the people of this
nation to migrate from the
valley of blame to the high
hills of responsibility for our-
selves and for improving the
culture of this country.

Culture is more than annu-
al festivals, traditions, music,
crafts or native dishes. Cul-
ture also embodies we the
people of this nation; our
thoughts, attitudes, beliefs,
confidence, the point of our
social compass, the quality of
our language and the way we
behave. It appears that we
have become so wrapped up
in our supposed rights that we
are either unaware or simply
choose to ignore that our
rights also come with an
inherent social responsibility.
This critical aspect of our evo-
lution remains undeveloped,
rather than taking responsi-
bility for ourselves, we are
more easily led to fight for
rights based on the fallacy
that someone else is the
blame for our laid-back per-
ceptions.

The daily servings of pro-
grammes that happily remind
us of our issues, problems or
the basic lack of social order
only highlights our point of
focus. That we are a pes-
simistic people, who are much
more comfortable, looking for
what, is wrong, rather than

letters@tribunemedia .net



looking to resolve. This bleak
perception shows our lack of
preparation for change, lack
of critical thinking, gratitude
deficiency and a severe short-
age of ideas.

We cannot find solutions if
we are only focused on the
problems. The acceptance of
personal responsibility is what
separates the adult from the
child.

We owe it to our children
to put away childish things. If
we are sincerely interested in
supposedly saving the future
for our children, we should
begin with the thousands of
children who are here right
now.

Why aren’t we teaching
them the audacity of change
or the power of personal
responsibility? This thought-
pattern would build their con-
fidence to choose their own
future, long after we are gone.

The need for us to migrate
towards a culture of responsi-
bility is an appeal from the
spirit of this Bahama Land.
Whose moral fiber cringes
every time we utter a com-
plaint or point to a problem
without voicing a solution. Its
message is clear. It reminds

us that it has already given us
this land; it has provided
unlimited resources and
bestowed inborn talents upon
us.

The question we must ask
ourselves is what have we giv-
en in return to this land?
What ideas have we pro-
duced, created or brought
forth to inspire our children
or to change the world? This
land is pleading that we do
not sell our children on the
small ideals of problems and
challenges. Instead, it
beseeches us to inspire them
to accept that they embody
great ideas and the courage
to take responsibility for
working the land and build-
ing this nation.

We all know that the only
way to get up the hill is to
climb. For us to evolve as a
people and advance this
nation we must elevate our
thinking, climb out of the val-
ley of blame and cultivate a
new culture of responsibility.
Our Bahama land is dehy-
drated and in urgent need of a
positive, healthier perception.

And the spirit of this land
insists that we all quench its
thirst by heeding this call to
migrate forward, upward,
onward together.

People, it’s time to move!

MICHELLE M MILLER
Nassau,
March 7, 2011.

Looking at the tax regime

EDITOR, The Tribune.

Today’s article by Rick
Lowe (limit taxation and
spending) contains many
current observations about
the current tax regime and
the proposed alternative val-
ue added tax (VAT).

However, Lowe and the
Nassau Institute like the
“commentators” he criticis-
es fail to recognise the dif-
ferent impact taxes have on
the three factors of produc-
tion — namely land (free gifts
of nature), labour (human
exertion in the production
of wealth) and capital

DON STAINTON

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(wealth used to make more
wealth). Left wing propos-
als call for society to take
most of the wealth created,
making no distinction
between the income from
land, labour or capital and
leaving only a small portion
of wealth to individuals. In
most cases this also entails a
large measure of control by
society over individuals, a
“planned economy” and
lack of individual freedom.

Right wing proposals
(reflect tax) hold that more
wealth should remain in pri-
vate hands but also makes
no distinction between land,
labour and capital. Govern-
ment should get the mini-
mum it needs for necessary
services and leave the run-
ning of the economy to pri-
vate interests.

A mixed economy seeks
to distribute wealth and
power between individuals
and society but does not
make a distinction between
earned and unearned
incomes nor does it define
the proper roles of society
and the individual. The
result is usually a hodge-
podge.

The American economist
Henry George does make a

distinction between the
unearned income from land
(nature) and the earned
incomes of labour and capi-
tal. No one created nature
(beaches, reefs, fresh water
etc) but the presence and
activity of society creates
location value. A just society
would capture the location
value for society and let the
wealth created by labour
and capital remain in the
hands of these that earned it.

The Geologist proposal
achieves the goal of left
wingers for security and
social action but without
restrictions on liberty. It
achieves the goal of right
wingers to attain freedom
but without privilege and
monopoly.

This “tax shift” would
remove the unearned
income from natural
resource speculation, slow
urban sprawl, reduce pollu-
tion and pay for infrastruc-
ture that helped create land
values in the first place. All
this would happen without
stifling incentive and pro-
ductivity.

JOHN FISHER
Nassau,
February 21, 2011.

Thank you to
helpful BEC staff

EDITOR, The Tribune.

LAST night, the 4th of March, at 1.30am my power went
off. I thought it might just be the usual power failure but no,

it was just our house.

I called the BEC power failure number and got a very
polite and professional lady to answer. She took my info and
said she’d have a truck there ASAP.

True to her words a truck was there within 10 minutes. I
went out onto the road to make sure the guys knew it was
my house that was without power. They also were very

polite and professional.

My power was restored soon after the truck arrived. A few
minutes after the power was restored, the phone rang and to
my surprise it was the lady from BEC calling me back to
make sure my power was back on.

Most of the time people have bad things to say about
BEC, so I want to say Thank You to the BEC staff that
helped me, for their quick and professional response.

I wish I had asked for her name so I could thank her.

AMANDA MEYERS
Nassau,
March 4, 2011.



THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 5



LOCAL NEWS

COB students learn about
employment opportunities

By LAMECH JOHNSON

COLLEGE of the Bahamas
students participated in a career
and job fair yesterday, where
they were they learned about
what opportunities await them
in the public and private sector.

Norma Turnquest, co-ordi-
nator of the fair, described it as
a networking event for both stu-
dents and businesses.

“The purpose of the event is
to bring the students and busi-
nesses together,” she said.

Ms Turnquest believes the
students will benefit from learn-
ing about the different careers
available to them based on their
field of study. She was pleased
with the turn-out from students
and businesses.

“We have 33 companies rep-
resented so we are quite pleased
with the numbers. And the stu-
dents seem to be enjoying it
too.”

COUNSELLING & HEALTH SERVICE
DEPARTMENT

"The Helping Link"



She was unsure how many
companies have already decided
to hire some of the students they
met with, though she added,
“some companies have already
posted job recruitments on their
websites.”

Some students spoke with
The Tribune about what they
learned and experienced at the
fair.

Kaynell Dames, an account-

| a4
ing major at COB, was
impressed by the amount of
information available.

“It was great. There were a
lot of options for me in the
accounting field and I learned
about scholarship opportunities
provided by KPMG.”

R Ellis Farrington III, a fresh-
man at COB, said the event was
“dominated” by business and
finance companies.



“T’m a freshman so it’s really
an enhancing experience to have
an event that open doors for us.
They don’t have stalls that pre-
sent the law though.”

CIS majors like Ashaki
Adderley found the fair to be
very informative and said it
made them aware of the “dif-
ferent organisations out there.”

Representatives of the busi-
nesses told The Tribune they

COB STUDENTS pose with a fire engine at yesterday’s career and job fair.

came to see the future crop of
workers that would soon be
leaving school.

Selvin Basden, senior manag-
er of human resources at the
Bank of the Bahamas, said the
bank “is growing and we’re
seeking new talent.”

He mentioned that the bank
is currently hiring students on a
part-time basis and that students
from the Family Islands in par-

WORDS Gace OU TL G ee b Ds



By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

A MAN who admitted to chopping
his friend to death with a cutlass during
an argument two years ago was sentenced
to 13 years in prison yesterday.

On Wednesday, Maitland Thompson,
28, pleaded guilty to manslaughter by
provocation in the death of Customs Offi-
cer Collier Knowles, 33.

Thompson was initially charged with
murdering his friend, but accepted a plea
deal. Knowles died in hospital on June 2,
2009 after being chopped about the body
nine times, according to prosecutors.

Thompson told the court yesterday: “T
am truly and deeply sorry. I really didn’t
mean to kill this man. I really tried to
walk away. I just want the court to be
lenient.”

Senior Justice Jon Isaacs noted that

The Government of The Bahamas has received financing under the Presicent’s
IDS Relief (PEPFAR) to manage HIV/AIDS Strategic

Emergency Flan for

Thompson in seeking to defend himself
from Knowles went beyond what was
necessary and thus self-defence could not
be his legal defence.

The judge, however, also noted that
Thompson had been provoked in his
actions and that his case was not one in
which the maximum penalty ought to be
imposed.

“Given the injuries sustained by the
deceased, it is clear you would have gone
too far,” Senior Justice Isaacs said.

In his sentencing, he also took into
consideration the two years Thompson
has already spent in prison.

Thompson’s sentence is to commence
from January 1, 2011.

According to prosecutors, on June 1,
2009, Thompson, Knowles and several
friends were at a bar in Pinewood Gar-
dens.

An argument reportedly broke out and
Knowles left the bar. The argument con-

Intonation, Laboratory Testing and Prevention Programs.

The Ministry of Heallh invites application bo fill positions of Strate: Laboratary

Strengthening Manager and Information Management Business Analyst

POSTS FOR IMMEDIATE HIRING

STRATEGIC LABORATORY STRENGTHENING MANAGER

General Function

tinued at Cottonwood Street, Pinewood
Gardens, where friends intervened and
separated the two men.

According to prosecutors, Knowles
was subsequently seen walking with a
cutlass. The argument between the two
men continued on Willow Tree Avenue
and Saffron Street.

There, Thompson reportedly wrestled
the cutlass away from Knowles and
chopped him nine times about the body.
Knowles was reportedly chopped to the
head, left eye, right shoulder, left calf,
left hand, right thigh and right arm.

His cause of death was listed as hem-
orrhagic shock as a result of blood loss
from “chop wounds”.

Thompson was later arrested at a local
motel on Carmichael Road.

Thompson’s attorney Romona Sey-
mour submitted yesterday that her client
was angry and drunk at the time of the
incident.

She told the court that Thompson was
not aware of how many times he had
chopped Knowles.

According to Mrs Seymour, Thompson
had thought he had chopped Knowles
three times. She also asked the judge to
take into consideration the fact that
Thompson had pleaded guilty to the
manslaughter charge and had been forth-
right with police from the start of their
investigation.

She further submitted that her client
had told police that he did not intend to
kill Knowles and that his death was an
accident. She asked the court to take into
consideration the fact that Thompson’s
actions were not premeditated and that
he had been defending his life, but went
too far.

Ms Seymour told the court that
Thompson, a father of two, had expressed
remorse and asked that the court be as
lenient as possible.





Photo/Ronnie Archer

ticular will greatly benefit from
this opportunity.

“We have branches in Inagua,
Exuma and South Andros. Stu-
dents from South Andros for
example that want to go back
home to work can do so because
we have branches there in Man-
grove Cay and Kemp’s Bay.”

Other private institutions
such as ScotiaBank, First
Caribbean Bank, RBC, Doctors’
Hospital, Deloitte and Touche
and Burns House Ltd were also
in attendance.

Among the government agen-
cies represented were the Cen-
tral Bank of the Bahamas, BTC,
the Water and Sewerage Cor-
poration, the National Insurance
Board, Bahamasair, the Defence
Force, the Police Force.

Officers from the Fire Branch
were also there and brought
their fire engine with them.
They used a long grass track to
give the students a taste of what
a “fire run” is like.

The fair was held at Indepen-
dence Park on the college’s
Thompson Boulevard campus.

TROPICAL
a

a
ula rear a) |



ULTIMATE SLIP RESISTANT CLOG

The successful candidate will be responsible forthe provision of laboratory quality
assurance advice and assistance to the various laborateries. in COLUM, bo SALT
survedlance for HIV, 8TD, TR, Ol, and emerging diseases. The candidate will
establish and implement QA standards and operating procedures, including
specimen and inventory management.

Work closely with the PEPFAR Laboratory Implementing Partner (AFENET) to carry
out Lboratory gap analysis. resolve noo-confonmances, assist in the
implementation of the ISO 15189 Qualirey Management System (CRS) and
accreditation of the [ntegrated Public Health Laboratary

Education and Expeoricnce

al Alasters or Doctoral degre e in lahornwtory scences, hicmedical research, or
related tield;

b) Experience in clinical laboratary practice

c) Knowledge of intemational laboratory stanckinds; focus on HIV, TB and STI
diagnosis and clinical monitoring.

INFORMATION MANAGEMENT BUSINESS ANALYST

Gencral Purpose

The Business Analyst is responsible for supporting information management
initiatives wcross the Ministry of Health (MOH), with a bocus on deweloping custom
reports to enable HIV AIDS management.

The Business Analyst will document clinical information system requirements for
the National AIDS Program, support the implementation of svstems across clinics,
anil develop anil implenverit business andl clinical reports fe enable decision

THAT

Education and Experience

al Bachelors degree in Public Health Administration, Information Management, or
related field;

bh) Three to five 04 ta yeurs of experience ina related position, prefenibly in the
healthy field;

cl Sadtware application expertise in clintcal intormation systems, spreadsheets, and
darahases

d) Certification‘experience in Project Management is an asset



Salary will be coxmmensicate with degree and expenence and includes stanclard
project benefits.

Imerested persons are mvited to suhiat a cover letter, current cumculum vitae are
photo in Word or POF format to paulabowlep@bahamas.gov.bs. Applications must
be received by 4pm on Thursday, March 17, 2011.

SHOE STORE

121 EAST ST. PH 322-5276





PAGE 6, FRIDAY, MARCH 11, 2011

THE TRIBUNE



Health officials explore ‘inextricable’
link between kidney and heart disease

By MATT MAURA
Bahamas Information
Services

PUBLIC Health officials
worldwide have been able to
confirm an “inextricable link”
between kidney disease and
cardiovascular disease, Min-
ister of Health Dr Hubert
Minnis said Wednesday.

The Health Minister said
local public health officials
will join their international
colleagues in further study-
ing the relationship between
chronic kidney disease as a
major risk-factor for cardio-
vascular disease.

The announcement came
as the world celebrated
World Kidney Day yesterday.

A joint initiative of the
International Society of
Nephrology and the Inter-
national Federation of Kid-
ney Foundations, World Kid-
ney Day is used to further
raise awareness of the impor-
tance of one’s kidneys to their

overall health.

The day also aims to
reduce the “frequency and
impact of kidney disease and
its associated health prob-
lems” worldwide; to encour-
age preventative behaviours
among world citizens and to
educate all medical profes-
sionals about the key roles
they play in detecting and
reducing the risks of chronic
kidney disease, particularly
in high risk populations.

Risk

Public health officials said
there are seven “golden
rules” persons can use to
reduce their risk of develop-
ing kidney disease.

Critical among those rules
are to keep fit and active;
keep regular control of blood
sugar levels; monitor blood
pressure levels; eat healthy
and check kidney function if

you have one or more of the
“high risk” factors. Drinking

Government spends
$15 million annually
on dialysis treatment

By MATT MAURA

Bahamas Information Services

THE government of the Bahamas spends almost 15
million dollars annually to provide free dialysis treat-
ment to 330 persons with kidney disease, health offi-

clals revealed.

This figure does not include costs associated with
medications and/or hospital stays as a result of associat-

ed complications.

Dialysis treatment is predominantly used to manage
kidney disease in the Bahamas and costs $45,000 per
patient per year. Recent data confirms that there are
more than 330 persons in the Bahamas receiving free
dialysis treatment as a result of kidney disease. The
total cost to treat those persons is $14,850,000.

Public Health officials said the 330 figure does not
include persons who “are unknown to nephrology ser-
vices for whatever reason”. They said the number of
persons with kidney problems is likely to increase as

more and more Bahamians become more at-risk for the
disease due to the high prevalence of chronic, non-com-
municable diseases such as diabetes and hypertension —
two leading causes for kidney disease — in the Bahamas.

Chronic, non-communicable diseases such as diabetes
and hypertension or high blood pressure can be pre-
vented through proper diet and exercise.

Minister of Health Dr Hubert Minnis said while the
Government has implemented and will continue to
implement new strategies to help battle kidney disease
and reduce the heavy costs associated with the treat-
ment and management of the disease, the onus is on
“every single Bahamian, particularly those at-risk per-
sons” to ensure that they adopt healthy lifestyles to
prevent life threatening illnesses such as kidney dis-
ease.”

Dr Minnis said research has shown that “intensive
control” of diabetes and high blood pressure” can pre-
vent the onset of kidney disease.

“Simple choices like eating a balanced diet, engaging
in regular exercise and having an annual physical exam-
ination are all necessary to help prevent the disease,”
Dr Minnis said.

“Tt is also necessary for individuals who fall within
high-risk groups for renal disease to get tested for the
disease in order to facilitate early detection and prompt
treatment and monitoring,” Dr Minnis added.

The Health Minister said conditions such as diabetes
and hypertension have contributed to a rise in renal
diseases in the Bahamas. The two are prevalent among
Bahamians.

He said public health officials have launched a series
of education and awareness programmes designed to
educate members of the public on the implications of
the incidence of chronic kidney disease in the country
and to ensure that the disease may be prevented, where
possible, or to ensure early detection, timely referral
and safe and effective client care.

“As knowledge and understanding of the causes of
kidney failure increases, so does the ability to predict
and prevent kidney disease increases,” Dr Minnis
added.



water regularly is also impor-
tant to maintaining healthy
kidney function.

Dr Minnis said a statement
from the American Heart
Association confirmed that,
“cardiovascular disease
begins to have an effect on
the body as early as the first
stage of kidney disease and
most people with end-stage
renal failure die as a result of
cardiovascular complica-
tions.”

Chronic, non-communica-
ble diseases such as diabetes
and/or hypertension or high
blood pressure, contribute to
renal diseases. Both are
prevalent in the Bahamas.

Dr Minnis said research
shows that “intensive con-
trol” of diabetes and high
blood pressure can prevent
or delay the onset of kidney
disease.

“Cognisant of these facts,
the Government of the
Bahamas has collaborated
with the private healthcare

sector in implementing the
National Chronic Disease
Prescription Drug Plan,” Dr
Minnis said.

“This Plan allows patients
with a history of chronic con-
ditions such as diabetes and
hypertension to access their
medications to aid compli-
ance and preservation of kid-
ney function.

Prevention

“Tt is vital that other strate-
gies that make the most of
our fiscal, capital and human
resources be implemented
and supported at the national
level to ensure prevention,
early detection and manage-
ment of this debilitating and
life-threatening condition,”
Dr Minnis added.

To help combat the prob-
lem and promote education
and awareness, public health
officials in the Bahamas this
week began celebrating
Renal Awareness and Edu-

ADJUDICATIONS for the E Clement Bethel National
Arts Festival continued in Freeport this week, drawing
students from the island’s schools who showed off their
musical talents. It was the second week of Grand Bahama
adjudications which are now coming to a close.



TT io

aN



“‘INEXTRICABLE LINK: Health Minister Dr Hubert Minnis

cation Week. Several major
activities have been planned
including a workshop on
chronic kidney disease for
public health nurses that has
been endorsed by the Royal
College of Nursing in Lon-
don; England; a public debate
on kidney disease and a
speech competition on the
topic “How we maintain Kid-
ney Health” for high school
students.

Dr Minnis applauded offi-
cials at the Department of

Public Health and the Public
Hospitals Authority for their
efforts in raising public
awareness.

“Patients and family mem-
bers need to have a better
understanding of how to pre-
vent kidney disease and how
to manage existing condi-
tions,” he said.

“In addition, healthcare
professionals require more
training to ensure early detec-
tion and appropriate man-
agement.”





ABOVE: Liam Brown of the Lucaya International School plays
the trumpet during the adjudications in Freeport, Grand
Bahama, for the E Clement Bethel National Arts Festival.

TOP: An ensemble from St Paul's Methodist College plays the
jazz piece "Santa Baby" during the adjudications in Freeport.

LEFT: Walter Parker Primary School student Lincoln Alleyne
beats out a solo in the Best Drummer category during the adju-
dications in Freeport, Grand Bahama for the E Clement Bethel

National Arts Festival.

other % is

Grab your discount
Out of the bag

On new

Arriving

Harbour Ba
Find us on facebook arbour Bay

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from people who are
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neighbourhoods. Perhaps
you are raising funds for a
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award.

If so, call us on 322-1986
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THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 7



LOCAL NEWS

AFFGA calls on govt to declare ‘no-build zone’ in $ Abaco

Group wants 1,800 acres
of Crown Land to be
o ff limits to developers

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A GROUP of bonefishing
guides seeking to protect a
vital fishing ground in South
Abaco is calling on the gov-
ernment to take action before
developers move in.

The Abaco Fly-Fishing
Guide Association (AFFGA)
has proposed the government
declare around 1,800 acres of
Crown Land coastline and
wetlands stretching from
Cross Harbour to Blackwood
Point a no-build zone as it
supports a 1,000 hectare wet-
land area, local fishing indus-
tries and the lucrative catch-
and-release sport led by local
fly-fishing guides.

AFFGA president Paul
Pinder sent a letter to the
Prime Minister’s Office in
October 2009, won support
from the Ministry of the Envi-
ronment and submitted the
proposal to the Department
of Physical Planning in April
last year.

The association maintains
they were asked to resubmit
their application more than
once, both in print and online,
and yet have heard no
response from the govern-
ment department.

Director of Physical Plan-
ning Michael Major said the
application came to his atten-
tion on Wednesday, follow-
ing calls from The Tribune,
and he will now initiate the
process of creating a zoning
order.

“Most of the time when we
get requests like that they are
legitimate and reasonable,”

Mr Major said.

A review of the proposal
will be completed next week,
he said.

The details will then be
publicised, giving people a
chance to respond, and then a
draft proposal will be drawn
up and sent to the Attorney
General’s office for vetting,
before going to the Cabinet
for final approval in around
two months.

When asked why the pro-
posal had taken more than a
year to cross his desk, Mr
Major said: “I can’t say it’s
taken a year because I don’t
recall it, but especially these
matters that are not (plan-
ning) applications as such are
not considered a top priori-
ty.”

The pressure to deal with
development plans takes pri-
ority in the Department of
Physical Planning Mr Major
said, as multi-million dollar
projects involving landown-
ers, banks, contractors, archi-
tects and developers take up
staff time.

And it is precisely this pres-
sure which AFFGA fears will
lead to encroachment on the
valuable wetlands they are
seeking to protect.

“We hope the government
will agree this pristine area is
far too important to the peo-
ple of Abaco to sacrifice to
future local or foreign devel-
operts as it is presently of eco-
nomic value without being
developed,” Mr Pinder said.

Studies of the area facili-
tated by local nonprofit
organisation Friends of the
Environment have docu-
mented more than 50 species



of fish in the creek and
proven the link between man-
grove and oceanic habitats.

Dr Craig Layman who
spearheaded the Friends pro-
ject said: “It is one of the first
studies anywhere in the world
that have directly demon-
strated the connection
between mangrove and
oceanic habitats through the
movements of fishes.

“Additionally, it directly
demonstrates the rapid and
concrete impacts the creek
restoration projects can have
on marine fisheries.

“As such, it is especially
critical to protect this wetland
area as it may be a primary
nursery area for all of south-
ern Abaco.”

Friends undertook a major
creek restoration programme
in Cross Harbour five years
ago with the help of around

IT’S A TIME QF JOY AND JUBILATION!
ff'S A GRAND TIME

(M PRAISE &

CELEBRATION, 10° a

TIME OF FELLO

PRAISE & WORSHIP

March 13-20, 2011. ‘East Street Tabernacle
THEME: “LED BY HIS SPIRIT P vnc:

300 local people and school-
children. The organisation
then initiated a fish tagging
programme with local schools
which documented twice as
many species upstream than
before they had completed
the work.

Now Florida-based non-
profit the Bonefish Tarpon
Trust is undertaking a bone-
fishing tagging programme
and is expected to cement
important data about bone-
fish and the wider ecology of
the area in the coming
months.

AFFGA wants to ensure
the rich biodiversity support-
ing such scientific studies, as
well as the fly-fishing industry
and local fisheries is protected
as members fear developers
of resorts and marinas will be
attracted to the area by its
access to deep water.

Mr Pinder’s wife, fly-fish-
ing guide Cindy Pinder, said:
“We are just trying to do this
to protect a very good area
for the fisheries, and for the
people of Abaco.”

“We don’t need another
under utilised marina in Abaco.

“We need to protect this
land for the future of Bahami-

fone a Pp.



NIGE CATCH: AFFGA president and fly-fishing guide Paul Pinder holds a bonefish he caught in Cross Harbour.

ans. It doesn’t need to be in
the hands of foreign develop-
ers.”

Abaco’s fly-fishing indus-
try draws an estimated annu-
al income of around $4 mil-
lion, and contributes to the
$140 million associated with
catch-and-release fishing
tourism across the country.

Vs Ge) Arr eee

IfYou Don’t, Who Will?

1OPM -

mye

MARCH - DECEMBER 201 1

Tel: 436-1472



Seer erat ae te 3

FREEPORT CITY SUBDIVISION -
CENTRAL AREA, FREEPORT
LOT NO. 5 Block “0”

SPECIAL GUBST SPRATERG ts PRESET ERS:

BISHOF CLAYTON MARTIN
Traerad Poesbyter

BISHOP DAVID BRYAN

fdohed Oivtresach Director

BISHOP ROBERT DAVIS

Ptteate Greveeey of Phos

BISHOP JEFFERY DAVIS

State Overseer af North Saoolis
BISHOP TIMOTHY COALTER
State Oheseer of Sot Sasol
BISHOP CLARENCE WILLA Ma
Overseer of The Trodkes 4. Cadcor Is kovds

BISHOF DOW BROCK
MR. ELLISOW GREENSLADE

Cannes of Poker
Jnr CN Sa Aisi: Che Nato)
Convention Gio, the anventian Frade
Tesou, Tater nels Soncert Siva, ad other
Shien Cindi, Fredst Tess, Soloists, soe
Singing Groups. The Behav, Boss Bead,
Balisouse. Youth sow Junior Bysuas Baus,
aod the Coseders Brae Booed wil provide
Special wmniek:.

Monday, March 14th, 2011

Bisheqi Tv. Dlvsrmet BH. Eabrrany, (ats,
IG, JF, National Crlvséer and hieleva-
tea Vall deli: His Agi] Natiedal Act

Sunday, March 20th, 2011

The Comventlon clases oo Suede, March
2Gth, 2011 with the fowl Parade ood
Water Baptismal Service at the Weetern Be
Plasede, aed with the Hore 2 Radio Do
A, £00 AM aed 28 YY LS evetig broad-
test celle). Cuving tissenvice, the Aston]
Sverseer, Bishop fr. Elawnet B. Relouing will
deliver the fine] message on tre Convention's
then.

dvens om Aicaidagy, March lth die cue

200 Radics | Aad ad 2b Aube.
4 ‘ mn
*

) LOG a To:
00 cop Da, Ong
FOR. Re ae Ar EVE ea ar

For forthar a call —



PROPERTY DESCRIPTION: Sincle
Storey Commercial Complex

PROPERTY SIZE: 65,341 sq. ft.

LOCATION: On the Mall at the
Ranfurly Circus

APPRAISED VALUE: $2,260,000

OES

INTERESTED PARTIES SHOULD SUBKITT OFFERS INCLUSHE OF
TELEPHONE CONTACT AND POSTAL ADDRESS TO: CB DETRESSED
PROPERTIES, CREDIT RBK MANAGEMENT DEPARTHIENT,

P.O BOX 55-0260, NASSAU, BAHAMAS OF ERIAIL LS AT:
DESTRESSED.P ROPERTIES GC OM BANKLID.CORL,
SERIOUS EMOUIRIES ONLY. PLEASE CALL 502-012, 502-5109
OR 502-0745 FOR FURTHER INFORAIAT ON,

* WE RESERVE THE RIGHT TO RERJEGCT ANY OR ALL OFFERS.



PAGE 8, FRIDAY, MARCH 11, 2011

THE TRIBUNE



‘Criminally-minded’
paid in BTC protest

BAHAMAS T0 GET
S5M FROM US FOR
HIV/AIDS FIGHT

THE BAHAMAS will
receive more than $5 mil-
lion in US assistance over
the next five years to sup-
port the country’s fight
against HIV and AIDS.

The financial assistance
is part of US President
Barack Obama’s Emer-
gency Plan for AIDS
Relief (PEPFAR) agree-
ment.

US Ambassador to the
Bahamas Nicole Avant will
discuss the PEPFAR
agreement when she opens
the US Caribbean Region-
al HIV/AIDS Partnership
Framework (PEPFAR)
Summit this coming Tues-
day at the Sheraton Nassau
Beach Hotel.

Minister of Health Dr
Hubert Minnis will also
provide opening remarks.
The three-day summit is
expected to attract 80 par-
ticipants from throughout
the region to discuss and
share strategies on
HIV/AIDS awareness and
prevention.

This year alone, through
PEPFAR, the US govern-
ment has committed more
than $1.6 million in assis-
tance to the Bahamas in
the areas of prevention,
strategic information, labo-
ratory strengthening, and
human capacity develop-
ment.

The Ambassador will
also announce a call for
small grants proposals for
the 2011 Ambassador Fund
for Prevention.

Community based
organisations, non-govern-
ment organisations, faith-
based organisations, gov-
ernment ministries, busi-
nesses, clubs, schools, and
individuals will be invited
to submit proposals for
one-time grant up to
$10,000 for projects that
promote HIV/AIDS
awareness. The deadline is
April 29, 2011.

FROM page one

but were there “advancing political
groups.”

“We saw so many things that were
going on. I, for one, wondered if we
were dealing with a BTC situation or
if we were dealing with a political sit-
uation. For the life of me I could
not understand what was going on.

“TI saw, along with other execu-
tive members, as we gone through
the downtown area, persons walking
around with political photos of indi-
viduals.”

The demonstration was said to
have been organised by the Com-
mittee to Save BTC, but Progres-
sive Liberal Party (PLP) members
made a strong appearance. Many of
their members were dressed in yel-
low political garb. A group of Brave
Davis supporters also carried life-
sized “Be Brave” posters. They were
dressed in custom-made designer
“unity shirts.”

Mr Smith said downtown mer-
chants called “left, right and cen-
tre” to complain about a group of
young protesters who were dropped
off in the George Street area. As
they walked to the protest, mer-
chants claimed they stopped in store
after store “causing a disturbance.”

“T walked there personally and
saw them. I knew some of them and

talked to them. I heard them say, if
they did not get paid there is going
to be problems. I had to encourage
some of them to come out of the
stores. They had no reason to go in
the stores.

“They were just being disruptive,”
said Mr Smith.

“My view is there were only a
handful of persons there who were
really dealing with BTC. If you were
to speak to some of those persons,
they did not know why they were
out there. They did not know what
they were out there for. If we were
to really do the due diligence, we'll
find a lot of them did not under-
stand what was going on,” he said.

When the morale, welfare and
integrity of the force is under threat,
Mr Smith said, the association has a
responsibility to intervene. Such is
the case with debate around the
BTC protest, he said, where com-
ments being made in the public are
“concerning.” Mr Smith said he was
strictly speaking from the perspec-

tive of the PSA.

He said the police force stands for
its integrity, and “we would wish
nobody to interfere with that.”

“If we see the type and caliber of
persons coming out there. We know
them. We have nothing to hide on
that. We are the police. We know of
those persons. Not saying that they
are going to come out there and do
something, but we have to make
sure officers are there in case, and to
actually deal with the issues,” said
Mr Smith.

“It was strange the type persons I
saw. Certainly being a police offi-
cer for over 21 years, we know our
caliber of persons that were mov-
ing up and down. They had nothing
to do with BTC, but they were
advancing these political groups.
The police had a difficulty with
that,” he said.

When pressed to explain what he
meant by criminally-minded per-
sons, Mr Smith said: “From the per-
spective of the association, we know

that these are persons who are
known to the police. These are per-
sons who are unsavoury characters
and they would have been before
the police on numerous occasions.”

He said the PSA supports the
public in their right to protest; how-
ever, they feel groups “must not let
persons whose view is to cause a dis-
ruption interrupt what actually
should be happening.”

“The police are there for safety
and to ensure control. (A demon-
stration of that nature) is a perfect
opportunity for any crime to
explode,” said Mr Smith.

“We live in a real world; there are
persons who don't like this person;
those who might have criminal
motives; that is the best time for that
kind of activity.

“So the police would have made
sure all of its units were there to
look out for those persons, who may
have been of a criminal nature to
make sure, because that was an
ample time.”

PARENTS OF BABY WHO DIED IN PMH ‘UNABLE TO GET COMPLETE MEDICAL RECORDS’

FROM page one

want closure,"

said Mr

body, it's not a pleasant expe-

hydrocephalus, a condition in

arrest and fell into a coma

have petitioned the hospital
for the medical history of
their infant Yannis — since his
death in January, 2010 — but
have only been able to secure
a portion of the records which
detail his last stay in hospital,
they claim.

They said PMH has not
released documents detailing
the period from the baby's
birth in August 2009 until his
release from hospital in Octo-
ber 2009. The couple fear the
records may have been lost.

"We're not accusing any-
body of anything, we just

Made to order omelets

Pancakes

Bacon

Tsakkos, 39. "We just want a
second opinion of what hap-
pened. We requested the rest
of the records, our lawyer had
made at least two official
requests, we believe we are
entitled to a second opinion.

"The response has been
"We're looking for them’ and
according to them they are
still looking. I wouldn't think
it would take so long," he
said.

A year on from the tragic
death of their son, the pair
still have not had closure
because of the delay, they told
The Tribune.

"T don't wish this on any-

Sausage— = ———__—__—

Frenchifoast ~—
FruitPlatter

Macaroni

Pepper Steak =
Broiled)/Mahi-Mahi

inva lemon buttersauce
Trt) Ly) pacers —
Cole Slaw

ee

rience," said Mr Tsakkos,
while his wife, 28, wiped tears
from her eyes.

Yannis, born prematurely
in PMH on August 12, 2009,
was the Greek-Orthodox cou-
ple's only child.

From his birth, the infant
was besieged with health
problems and spent the first
few months of his life in the
neo-natal intensive care unit
of PMH away from his par-
ents.

He was diagnosed with a
number of illnesses, including
meningitis, or inflammation
of the membranes that cover
the brain and spinal cord, and

which excess fluid accumu-
lates in the brain.

Doctors also said Yannis
had congenital heart disease
and a hole in his heart.

The hospital discharged
Yannis in early October 2009,
but he was readmitted to hos-
pital in late December 2009
after his parents noticed a
fever, increased vomiting and
that he was passing blood in
his urine.

This time he was admitted
into the Children's Ward, his
family said, and three days
later he developed pneumo-
nia.

He soon went into cardiac

before his death on January
29.

Thelma Rolle, PMH pub-
lic relations officer, told The
Tribune the hospital would
look into the report and con-
tact the parents in the hope
of straightening out the situa-
tion.

"T have forwarded it to our
Client Feedback Unit which is
going to catch up with the
parents to see what's going
on,” said Ms Rolle.

"We will be in contact with
them within the next few days
and determine what went
wrong, to investigate, and say
why there was a breakdown."

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THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 9



LOCAL NEWS

Minister criticises PLP Deputy

POLICE CALLED AFTER ROAD WORKERS
TOLD PAY NOT IN THEIR BANK ACCOUNTS

FROM page one

fully and no arrests were made.
Still, workers told The Tribune they are normally paid on Thursdays

any changes in salary disbursements.
"Every second Thursday we get paid, for over a year now I been get-
ting paid on Thursday," said a worker who declined to give his name.
"Thad to go pay all kind of bills today. This crush my spirit.”

Another worker claimed: "You can't tell the rent man they ain't pay i

us today when they know you working. This causes problems in the
household, they think you lying.”

Hever Cordova, company administrative manager, said it is company
policy to pay workers on Friday but explained that sometimes the bank
makes the money available earlier causing a "misunderstanding"
between employees and the company.

"T think there was a misunderstanding from our workers. We have
agreed from the beginning to pay them on Friday, so we were surprised
they were expecting pay today (Thursday).

"We understand the employees need their money but the bank
has a system they have to complete. Our instructions were given to
them from Wednesday but the bank has 48 hours, the bank takes
time to process payroll.

"Once it is released some people take advantage and go before
the specified time but it's not like the company doesn't want or can't
pay salaries.”

Mr Cordova added that the company has shown police copies of

internal memos which he said were circulated to workers about pay

day.
FROM page one

relieve traffic congestion, but also
to facilitate large infrastructure
works which are being carried out
underground.

These, he said, are vital to
improving the system of providing
potable water and to allow for
future expansion of other utility
systems such as cable, electricity
and telephone lines.

Mr Higgs said contractors are
trying to inconvenience businesses
and residents as little as possible.

Charlene Collie, project engineer
with the Ministry of Works, said
that in an effort to inform the pub-
lic of the phases in which the works
were to be carried out in the east-
ern corridor, flyers were distrib-
uted and a walkabout was con-
ducted. They also put up signs
explaining this schedule, she said.

Following Tuesday’s row, min-
istry officials met with business
owners. While fully acknowledging
all their concerns, they sought to
make it clear that some road clo-
sures and diversions will be

PERFORMANCE,
eli

ROAD CLOSURES

unavoidable. :
Ms Collie said the ministry’s }
traffic management committee is }
focused on the long-term benefits }
of the project, not the short-term }
liabilities. 7
Since meeting with the business }
owners, the ministry has decided
to re-examine the possibility of ;
closing only one lane at a time in }
the Prince Charles area during busi-
ness hours. ;
However, Ms Collie warned this
would extend the time the works :
will take and affect the cost of the i
project. :
She assured the public that both }
lanes are only closed “when :
absolutely necessary” or for safety }
reasons, and always for the absolute i
minimum amount of time possible. ;
She said once the work is done,
drivers will have a wider Prince }
Charles Drive with new drains, }
improved lighting, sidewalks, better }
signs and ultimately, less traffic.

Style.

Geoffrey Jones offers the fine line of General

Electric appliances designed to suit every

need with performance quality and style. Our

competitive prices and full service department,

make us your ultimate appliance centre.

LABOUR Minister Dion
Foulkes has criticised PLP
Deputy Leader Philip “Brave”
Davis for seeking to “politicise”
the tragedy of suicide and mental
health issues.

Minister Foulkes responded in
a press statement yesterday to
remarks made by Mr Davis at a
Progressive Liberal Party rally in
Golden Gates Tuesday night. Mr
Davis at that time suggested that
the Free National Movement
administration’s failure to create
sufficient jobs to deal with the
country’s unemployment prob-
lem led to the untimely deaths of
Bahamians.

“Suicide,” said Mr Foulkes, “is
a complex matter which should
be discussed and responded to
with great care and sensitivity, as
well as compassion and proactive
responses by various institutions
and individuals, including those
in public office.

“T therefore found it disturbing
and a lack of compassion and
sensitivity that Mr Philip ‘Brave’
Davis, the Deputy Leader of the
Progressive Liberal Party would
seek to politicise the tragedy of
suicide and related issues of men-
tal health and depression.”

He noted that “suicides in The
Bahamas are down by 33 per cent
from 2009 to 2010, from twelve to
eight respectively. Still, every
suicide is a tragedy for the indi-
viduals and families involved as
well as the wider community.”

According to Mr Foulkes pri-
or to the Christmas holidays, the
Department of Social Services
entered into a partnership with
accounting firm Grant Thornton
to increase the number of coun-
sellors available to the national
suicide hotline. He noted that
because of the confidentiality of

PHILIP ‘BRAVE’ DAVIS had suggested
that the Free National Movement
administration’s failure to create suffi-
cient jobs to deal with the country’s
unemployment problem led to the
untimely deaths of Bahamians.

the hotline, a number of persons
have been helped over the past
several months.

“T encourage those who are in
need of assistance or who have a
family or church member or
friend or work colleague in need
of assistance, to call the confi-
dential National Suicide Hotline
at 322-2763.

“Bahamians should work in a
nonpartisan manner to prevent
aS many suicides as possible as
well as to respond to sucha
tragedy when it occurs,” he said.
“The reasons for suicide are var-
ied and often complex. Difficult



- for ‘seeking to politicise suicide’

and claimed the construction company had not informed them of ;

economic times may help to lead
to an increase in suicides as has
been seen in various countries
around the world during what
have been some of the toughest
economic times in generations.”

He said that “at home, the
Government responded with a
comprehensive and intensive
array of measures to respond to
the global financial crisis and its
impact on individuals, families
and communities. These included
a dramatic increase in social
assistance, the National Retrain-
ing Programme, and the land-
mark Unemployment Benefit
Programme as well as through
other measures to stimulate the
economy and jobs.

“According to the World
Health Organization, The
Bahamas has one of the lowest
suicide rates in the world. This
may be due in part to our strong
sense of community and religious
faith, both of which we should
continue to rely on in good and
difficult times.”

Mr Foulkes invited the Oppo-
sition as well as all others “to
offer ideas, support and prayers
in helping those in our homes and
communities who may be tempt-
ed to commit suicide. Moreover,
we should support those families
who have suffered the loss of a
loved one through such a tragedy.
What is needed in such trying
times is love and compassion, not
insensitivity or making judg-
ments.”

Mr Foulkes invited those who
wish to be trained as volunteers
for the Hotline to call 322-3035.

“T also wish to restate that the
National Suicide Hotline number
is 322-2763,” he said.

e SEE PAGE TWO

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' ,

Planning moves
On ‘prosecution’
of sign owners

By ALISON LOWE
Business Reporter



alowe@tribunemedia.net

The Department of Physi- | Ill Waste-to-energy proposal for Grand Bahama promises more
: than 50 permanent posts, with total impact creating 450 jobs

_ Mi Construction phase could generate 348 jobs, with plant

_ aiming to generate between 15-30MW within 10 months of start

By NEIL HARTNELL
i Tribune Business Editor

cal Planning has asked the
Attorney General’s Office
to “prosecute” businesses
who have refused to take
down digital billboards
around New Providence, its
director said yesterday.
With over a month having
passed since the Ministry of
the Environment issued a

demand for the billboards to } ; :
: desperately needed jobs will
i be created if a renewable
: energy supplier obtains an
ment under a 1964 law regu- } agreement to supply Grand
: Bahama Power Company
Major said the matter is now } With energy from Refuse
i Derived Fuel (RDF), Tribune
? Business was told yesterday,
? with the proposed plant able
i to supply between 15-30
i Mega Watts (MW) within 10
: months of starting operations.

be switched off or removed,
given that they are consid-
ered illegal by the Depart-

lating advertising, Michael

out of his hands.

“Nothing concrete came
of it. The matter is at the
Attorney General’s Office
for further action. If we give
notice saying the signs

should be removed and they }
? Fuels Bahamas, a copy of

? which has been seen by this
i newspaper, said the energy
? supplier had obtained $100
? million in financing from the
? US Export-Import Bank, and

are not in the time specified,
then it is sent to the AG’s

office for prosecution,” said
Mr Major.

SEE page 6B

Gov't tendering
reform ‘critical’



STEPHEN
WRINKLE

By NEIL HARTNELL

Tribune Business Editor

The Bahamian Contrac-
tors Association’s (BCA)
president yesterday said an
Inter American Develop-

project to modernise the
Government’s procure-
ment system was “critical”
to maximising Bahamian
involvement in public sec-
tor infrastructure projects.

Stating that it was “nec-
essary” to regularise the
Government’s tender
processes and protocols,
Stephen Wrinkle said of
the $331,396 project, which
will be financed with an
$239,196 grant: “They cer-
tainly need that revision.
We hope that it proceeds
on course.

“That’s part of the
World Trade Organisation
(WTO) membership, as
one of the main require-
ments moving forward to
join the WTO is improving

SEE page 6B

responsible for errors and/or omission
from the daily report.



i Authority
i licencees have applied to the
i Supreme Court for permis-
? sion to intervene in Cable
i Bahamas’ two-year battle
: with the Utilities Regulation
i & Competition Authority
? (URCA), given that related
i legal issues potentially

THE TRIBUNE

u



FRIDAY,

ine

MARCH

ies



2011

SECTION B e business@tribunemedia.net

$100m renewable
plant’s jobs boost

More than 50 permanent,

The business plan for E-

-if its project was approved -
could sell the power it pro-
duced to either the Bahamas
Electricity Corporation
(BEC) or Grand Bahama
Power at $0.13 per kilowatt
hour.

This, the plan said, would
pass “substantial savings” on
to Bahamian residential and
commercial electricity users,
with fuel surcharges reduced
and the Bahamas driven a
step further down the road to
environmentally-friendly, sus-
tainable energy that could sta-
bilise power prices.

“With respect to employ-
ment, the local economy is
expected to realise the full
benefit from the job and pay-
roll estimate,” E Fuels
Bahamas’ project overview

PORT LICENCEES MOVE
TO INTERVENE ON URCA

: By NEIL HARTNELL
; Tribune Business Editor

Grand Bahama Port
(GBPA)

“abrogate or amend” the

Hawksbill Creek Agree-
i; ment.

Attorney Rawle Maynard

i and businessman Chris
i Lowe, in an affidavit sworn
i in support of the Freeport
: Licensees and Property
ment Bank (IDB) financed : Owners Association’s appli-
? cation to become an inter-
i vening party, said Cable
i Bahamas’ Judicial Review
: action had raised three “piv-
? otal” issues crucial to inter-
: preting key Hawksbill Creek
: Agreement provisions, and
i it was critical to “safeguard”
i? GBPA licensee rights.

The affidavit, filed with

i the Supreme Court on Feb-
? ruary 11, 2011, said the first
? provision related to the fact
i that the Hawksbill Creek
i Agreement stipulated that
i any amendment to it
? required the approval of at
i least 80 per cent of GBPA
i licencees. This, Messrs May-
i nard and Lowe alleged,

“vest in each licencee the

: right to be consulted, and a
i right to be heard and be
? counted in connection with
; all such amendments”.

And they claimed that the

same Agreement also pro-
: hibited the GBPA from
i assigning its rights, and

“restricted whilst providing

i for a transfer by the Port
: Authority as respect its said
i quasi-governmental powers
: and its ‘specified rights, pow-
i ers and obligations’ for the
i proper administration and
i development of the Port
i Area other than to a ‘Local
; Authority’”.

The last two Hawksbill

i Creek Agreement provi-
? sions come into play because
i Cable Bahamas’
i Review, over the seemingly
i innocuous question of
? whether its Freeport busi-
? ness should pay $78,747

The information contained is from a third :
party and The Tribune can not be held] :

; highlighted how the agree-

Judicial

worth of licensing fees, has

ment that

regime.

GBPA officials have been }
concerned since 1999 that :
to create ai
Bahamas-wide;
telecoms/communications }
regulatory regime, via the }
Telecommunications Act of }

attempts

SEE page 5B

underpins :
Freeport’s very existence }
and development could be }
breached by the national :
communications supervisory }

said. “The green power plant
jobs and the construction
activity for both phases will
also create a number of jobs
indirectly from the project-
related spending, and the
spending decisions of plant,
trucking and construction
workers.

“The number of indirect or
induced jobs created in the
Grand Bahama economy is
estimated at 450 jobs over the
two project phases. From a
short-term socioeconomic
point of view, the plant itself
and the related construction
activity will immediately pro-
vide as many as 348 much
needed jobs for Grand

SEE page 4B

FAMILY GUARDIAN

INSURANCE COMPANY LIMITED

‘No evidence’
BTC deal anti-
competitive

* URCA approves CWC privatisation, rejecting claims cellular
monopoly extension will ‘impede the growth of competition’
* Fears three-year monopoly will enable BIC/CWC to use
cellular profits to cross-subsidise rival business lines

* Other concerns involve CWC using Caribbean affiliates to
give BIC more favourable terms, and help it cost shift

* BTC international services market share 5-25%

By NEIL HARTNELL
Tribune Business Editor

Cable & Wireless Communications’ (CWC) acquisition of
a 51 per cent stake in the Bahamas Telecommunications
Company (BTC) was last night approved by the industry reg-
ulator on the grounds it would not lessen competition in any
of the services the state-owned incumbent currently offers,
as it rejected concerns that CWC would use the extended

three-year cellular monopoly to
competition” in other markets.

“impede the growth of

In a decision that will come as no surprise to informed
observers, the Utilities Regulation & Competition Author-
ity (URCA) found that in regard to BTC’s privatisation
“there is no evidence to support a finding of a substantial

SEE page 5B



ROBIN HOOD COMES ‘UNDER ATTACK’



FOOD FOR THOUGHT: The Robin Hood store in Prince Charles Drive.

By NEIL HARTNELL
Tribune Business Editor
and ALISON LOWE
Business Reporter
alowe@tribunemedia.net

Robin Hood’s president last

said the company was “under
? attack” from a host of unnamed

“sources” who wanted to force
it from the Bahamian retail
market, but warned: “I have no
intention of disappearing grace-
fully and going into the night.”

Sandy Schaefer spoke to Tri-
bune Business after dismissing

SEE page 4B

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* But retailer’s chief warns:
‘T have no intention of
disappearing gracefully
and going into the night’

* Claims Robin Hood has
‘changed the face of
Bahamian retail’ by forcing
rivals to lower prices

* Dismisses claims of
lay-offs, and payroll and
supplier payment issues,
as ‘patently untrue’

A SUBSIDIARY OF

ed) 0 ee Ca COOL ae





PAGE 2B, FRIDAY, MARCH 11, 2011



THE TRIBUNE



Why business M&A

manes sense now

By SIMON COOPER
Res Socius

hen some

people ask

when is the

right time to
buy a business in the Bahamas,
others are genuinely surprised
why that question is ever asked
at all.

Some of those who question
already own businesses that
pop up and down like yo-yo’s.
Others are true entrepreneurs,
with enough capital and
patience to start from scratch.

The rest of us fall somewhere
in the middle — we have restrict-
ed funds, we are often on the
rebound from another job or
business, and we need to gen-
erate predictable income right
away.

This is why so many business
owners invest capital into a
proven business, as opposed to
watching sometimes scary out-
ward cash flows while their new
enterprise cranks up.

The trick, of course, is to find
a solid business with audited
books, and at a good price as
well.

For the sake of an example,
let’s assume you decide to open
up a new hamburger joint in
your home town where several
others already exist (if they did
not, then it is unlikely there is
business for you).

That market will probably
already be saturated, and your
enterprise is unlikely to result in
more than a few extra ham-
burgers being eaten on any
night.

Which is wiser: To try to
seduce customers from another
outlet already making money,



or buy a good one, lock, stock,
barrel and customers, too? I
rest my case.

To phrase the question in a
slightly different way, is this a
good time to go shopping for
Bahamian businesses?

I believe it will be, if the fol-
lowing are true, and assuming
that in this case you want to
spend your days across the
counter in a burger joint.

* A proven record of sus-
tained profit at a level that you
need.

* A genuine reason for sell-
ing the business that does not
diminish its value.

* Transferrable goodwill —
the customers will stay with
you.

Ongoing supply lines — the
suppliers will support you, too.

* A price that you can afford,
and that is also excellent value
under current market condi-
tions

The main dealbreakers to
any business sale are disagree-
ments about value. The buyer
wants to buy for next to noth-
ing, while the seller would like
to be paid for the untapped
potential in the business.

This is where business bro-
kers become matchmakers —
they are independent, unemo-
tional and adept at setting a fair

and equitable price for both
sides.

That said, is it a good time :
to buy a business in the }
Bahamas right now? Value is }

based on profit.

In America, median closed }
business sale prices dropped }
from $190,000 to $160,000 to }
$150,000 in 2008, 2009 and

2010, respectively.

I believe this trend applies :
to our islands, too, and this }
means our real business prices }

are down right now.

Any business is potentially a }
good buy, providing that cur- }
rent profit means a competitive }
investment, and the buyer }
believes its good days willcome }

again relatively soon.

This is similar to purchasing a
house at today’s depressed }

property prices, while secure in

the knowledge that the good
days will come again, as they }

always do.

The world economy will
rebound, and so will the }

Bahamas.

A wise investor buys a busi- }
ness when times are low, but }

are about to turn.

If you think this is true of our
lovely chain of islands, then }

take your cue right now.

NB: Res Socius was found-

ed by Simon Cooper in 2009,

and is a business brokerage :
authorised by the Bahamas :
Investment Authority. He has :
extensive private and public }
SME experience, and was for- }
merly chief executive of a pub- :
licly traded investment compa- }
ny. He was awarded an MBA :
with distinction by Liverpool ;
University in 2005. Contact him =}

on 636-8831 or write to
simon.cooper@ressocius.com.

CFA SOCIETY OF THE BAHAMAS
MONTHLY SPEAKER LUNCHEON EVENT

TOPIC: “TECHNICAL ANALYSIS: THE BASICS”

DATE: Wednesday 16" March 2011

TIME: 12:00 p.m. General Meeting
12:30 p.m. Speaker’s Address
Please arrive promptly!

Cagliari Room

Luciano’s of Nassau, East Bay Street
SPEAKER Barry Sine
Director of Research, Capstone

Members $35
Non-members $45
(Cheques payable to: CFA Society of The
Bahamas)
RESERVATIONS: PRE-REGISTRATION REQUIRED by
Monday 14" March 2011
David Ramirez, CFA
HYPERLINK “mailto:dramirez(@pictet.com”
dramirez(@pictet.com / 302 2217
*Prepayment required through one of the
Board Members

This presentation covers the basics — technical analysis history and theory and basics skills such
as chart construction and interpretation. The program also explains how technical analysis,
with its focus on the market supply and demand forces that determine securities prices,
complements fundamental analysis with its more theoretical toolset used to ascertain optimal
security valuations.

Barry M. Sine is the director of research of CapStone Investments. He utilizes fundamental,
quantitative, economic and technical tools to identify promising investment opportunities. In
2007, he was a #1 ranked analyst in the Wall Street Journal Best on the Street analyst rankings.
Mr. Sine has also held positions with JP Morgan, Prudential Securities, and Oppenheimer. He
is currently a director of the New York Society of Security Analysts, was a past director of the
Market Technicians Association, and founded and was the first director of the CMT Institute.
Mr. Sine is a lecturer and sits on the advisory board of the Student Managed Investment Fund
at Florida International University. He holds both the Chartered Market Technician (CMT)
designation for technical analysis and the Chartered Financial Analyst (CFA) designation
for fundamental analysis. He is also the co-author of the Technical Analysis reading for the
CFA Level I exam. Mr. Sine holds an MBA in finance and international business from New
York Univestity’s Stern School of Business and a BA in finance and economics from F airleig
Dickinson University.

Simon Townend is a Partner with KPMG based in The Bahamas, Managing Director
of KPMG Corporate Finance and head of KPMG’s Transactions and Restructuring
activities inthe Caribbean region, Bermuda, Isle of Man, Channel Islands, and Malta.
He has a BA (Hons) Degree from the University of Bristol, England, is a Fellow of
the Institute of Chartered Accountants in England & Wales (“ICAEW”), holds the
Corporate Finance (CF) Qualification (ICAEW, SII & CICA) and is an Associate
Member of the Chartered Institute of Arbitrators. He is also a KPMG Accredited
Valuations Specialist. Simon has 19 years of audit and corporate advisory
experience gained with KPMG member firms in the Channel Islands, The United
Kingdom and the Caribbean. He has led and worked on a significant number of
infrastructure projects across the Caribbean including public private partnerships,
financing, valuation, acquisition, disposal and procurement advice for container
and cruise sea ports, airports, water and wastewater assets, healthcare and energy
and communications assets.





OR UTA ae
AWN Vay YL) a I a

Two Higgs & Johnson’s attorneys, Heather
L. Thompson (partner) and Nadia J. Taylor é jimall yaa
(associate), presented during the seventh annu- c at ae Law ix fil
al Legal Education Week organised by the
Eugene Dupuch Law School’s Student Asso-
ciation.

Under the theme, The Legal Profession—A
Diversified Field, the week-long event sought
to underline the importance of integrity and
diversification among legal professionals in
the Bahamas.

Ms Thompson spoke on the topic Moving
Up The Corporate Ladder, emphasising the
importance of recognising that law is a pro-
fession rather than a job, and sharing some of
her personal experiences as an attorney in the
Bahamas.

She addressed the need to improve the rep-
utation of attorneys in the Bahamas interna-
tionally, and on the importance of having
meaningful communication with clients, apply-
ing the law in layman 's terms when appropri-
ate.

Ms Taylor informed the law students about
her experiences as an attorney working in the
private client and wealth management practice
group at Higgs & Johnson.

She added that in order to maintain its sta-
tus as one of the premier financial service cen-
tres in the world, it was essential for the
Bahamas to supply an available pool of well-
qualified Bahamian financial services profes-
sionals, so as to offer long-term working rela-
tionships with resident expertise.



ADDRESS: Heather L. Thompson talks candidly
to the students.

Coan -

A enor

Spucertts Ss0Clt



PRESENTATION: Nadia J. Taylor presents on
private client and wealth management.



ALL SMILES: Heather L. aosnsort (c) with Fieiis Dupuch Law School principal Tonya Galanis
(r) and Council of Legal Education president Lanisha-Tamar Rolle (I).



COMMUNICATORS: Nadia J. Tavlonte ) with Council of Legal Education president Lanisha-
Tamar Rolle (I) and Eugene Dupuch Law School student Samantha Francis-Wells.

MORTON BAHAMAS LIMITED K+ S$

POSITION AVAILABLE
ELECTRICAL ENGINEER:

Morton Bahamas Limited, A K + S Group Company seeks a
suitable candidate to fill the position of Electrical Engineer, at its
salt production facility in Inagua, The Bahamas.

This position support the facility by managing the activities
associated with electrical projects and electrical maintenance.

The successful candidate will have the ability to manage projects,
and possess’ good computer and organizational skills. Good com-
munication skill, interpersonal skills and the ability to solve com-
plex problem.

A College Degree in Electrical Engineering is required.
Entry level candidates are welcomed.

Bahamian Citizen or Holder of Bahamas Work Permit required.
Opportunities Include:

- Competitive Salary

- Relocation Benefits, worker plus family

- Major Health Benefits, worker plus family

- Dental Benefits, worker plus family

Visit www.mortonsalt.com, and follow the career page.





THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 3B



Trade meeting to ensure viability of handicrafts

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A trade symposium is being planned
to bring Bahamian straw vendors and
a multitude of straw/handicraft manu-
facturers together to “ensure the via-
bility” of authentically Bahamian craft-
work as a trade, ahead of the launch of
the new Nassau Straw Market as a
platform for locally-made souvenirs.

The Ministry of Works is leading
efforts to enhance linkages between
the straw work manufacturers, who
are located throughout the Bahamas,
and vendors who will be setting up
stalls inside the new Straw Market in a
bid to increase the opportunity for
each set of stakeholders, and the
Bahamian tourism product, to benefit.

The reality is that while wholesalers
of foreign souvenirs “from Taiwan and
Japan” have got ready access to ven-

dors in the current tented Straw Mar-
ket from bases in Nassau, and can offer
them an ample supply and variety of
products to retail at their stalls at a
lower price, enabling greater profit
margins, Bahamian handicraft manu-
facturers are located throughout the
Family Islands and have faced diffi-
culties in pricing and distributing their
goods competitively, according to
Downtown Nassau Partnership man-
aging director, Vaughn Roberts.

Elizabeth Keju, undersecretary in
the Ministry of Public Works, said the
Government, through the Ministries
of Works and Tourism, and entities
such as the Downtown Nassau Part-
nership, are attempting to minimising
issues that have limited the penetration
of Bahamian handicrafts in the sou-
venir market.

She said that based on her interrac-
tions with straw vendors, the opportu-
nity to maximise the sale of authentic

Bahamian handicrafts to tourists is a
“sleeping giant” that could provide
huge financial and social benefits. Ven-
dors, she said, have described sending
children to “law school, medical school
and engineering school” using money
they have earned in the past from the
sale of straw work to tourists.

Revive

The government hopes it can revive
and restore the industry in this regard.
“We're hoping that we can as much
as possible have a market that sells
authentic Bahamian crafts. There's
some challenges in that area in terms
of availability and cost, but we're
working with vendors and the manu-
facturers,” said Ms Keju.

A meeting was held two weeks ago
in which vendors were brought togeth-
er with manufacturers of handicrafts to
begin to talk about what could be done

to help them sell more Bahamian-
made items.

While many of the vendors are
themselves skilled craftspeople, said
Ms Keju, they often turn to selling
cheaper imported souvenirs, as they
find them easier to sell to tourists who
are often looking for a low cost trinket
or bag.

The ability to get a ready supply of
reasonably priced Bahamian handi-
crafts may be key to increasing their
sale, suggested both Mr Roberts and
Ms Keju yesterday.

“A vendor may not be able to sell a
$100 straw bag every day,” said Mr
Roberts, “but you may be able to sell
quite a few $5 wallets or something
like that.”

A trade symposium where vendors
can peruse the range of items that
straw/handicraft manufacturers can
produce, and in which discussions can
be held between both sides towards

MP blasts URCA on ‘credibility problem’

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A PLP MP again questioned the “credibility” of
the Utilities Regulation and Competition Author-
ity (URCA) and threatened court action, as the
communications sector regulator announced it
has given formal approval to the sale of 51 per
cent of the Bahamas Telecommunications Com-
pany (BTC) to Cable and Wireless Communica-
tions (CWC).

URCA yesterday issued its adjudication on the
change in control of BTC, saying it approved the
transaction because it did not find evidence that by
allowing CWC to take a 51 per cent interest in
BTC there would be a “substantial lessening of
competition” in the telecommunications sector
in the Bahamas.

Noting that the regulatory authority has “been
aware of and had due regard to public sentiment
regarding the change in control, and has noted the
significant public interest in various aspects of
the transaction”, URCA said it reviewed “sever-
al issues which are not relevant to the matters
which URCA is empowered by the Communica-
tions Act to consider in relation to its approval or
rejection of the change in control”.

Fred Mitchell, MP for Fox Hill, had called on

URCA not to approve the change in control of
BTC on the basis of several considerations -
among them, that he believed the exclusivity peri-
od granted to CWC over the cellular market was
unconstitutional, and the fact that URCA’s CEO
and a consultant to the entity have had previous
ties to CWC.

He also contended in a February letter to
URCA, declaring his opposition to the BTC con-
trol transfer, that he did not think selling control
of BTC to CWC would result in any benefit to
consumers, as the Government has contended.

Integrity

URCA’s chairman, Wayne Aranha, since issued
a statement in defense the integrity of the regu-
lator and its chief executive, Usman Sadaat. It
called for “well meaning members of the public to
desist from unproductive and damaging behaviour
or unsubstantiated public comments, and instead
concentrate objectively on the core issues”.

Yesterday, URCA went further on the issue
of the alleged conflict of interest, stating that it was
satisfied “that no conflict of interest arises in
respect of any person who has been in any way
involved in URCA’s consideration of the parties’
request for approval of the change in control” of

NOTICE

IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT
IN AND FOR PALM BEACH COUNTY, FLORIDA

IN THE MATTER OF THE
TERMINATION OF PARENTAL
RIGHTS FOR THE PROPOSED
ADOPTION OF A MINOR CHILD

Re: Baby Boy Sturrup
(DOB: 8/25/2010)

CASE NO: 50 2010 DROOTTTEAXAANB
FAMILY DIVISION FJ

NOTICE OF ACTION ON PETITION AND HEARING TO TERMINATE PARENTAL
RIGHTS PENDING ADOPTION

To: Eckard Shura

Last Known Place of Resaience: Nassau, Bahamas
Physical Desonption: Affican American Male, 63", 250 lbs, brown haar, brown eyes

ane? thin bailed
Date of Birth: 02h NST?

YOU ARE NOTIFIED that a Petition to Tenminate Parental Rights Pending
Adeption has been filed in the above-styled Court tor the adoption of infant Sturrup, a
male child born on Auqust 23", 2010 at Northshore Medical Center, Miami, Dade
County, Florida. ‘You are required to serve a copy of your written defenses. If any, to wil
on Lauren Feingold, Esq., for The Law Offices of Feingold & Kam, LLC, whose address
is $100 PGA Bhd, 2â„¢ Floor, Palm Beach Gardens, FL 33416 and file the original with
the clerk of the aiove-styled court on or before thirty (30) days fram the date of the first

publication of this notice

Thare will be a hearing on the Pattion to Tarminate Parental Rights Pending
Adoption on March 18th, 2011 at 10:00 4.M. before Judge Amy Smith, Room 3, atthe
Pain Beach County Courthouse, 3184 PGA Bhd., Palm Beach Gardens, Florida 33418
The Court has set aside fifteen (75) minutes for this heanng.

UNDER SECTION 63.089, FLORIDA STATUTES, FAILURE TO TIMELY FILE A
WRITTEN RESPONSE TO THIS NOTICE AND PETITION WITH THE COURT AND TO
APPEAR AT THIS HEARING CONSTITUTES GROUNDS UPON WHICH THE COURT
SHALL END ANY PARENTAL RIGHTS YOU MAY HAVE OR ASSERT REGARDING

THE MINOR CHILD.

WITNESS my hand and seal of said Court on Setar ary |e 2014

BTC. On the question of “lack of potential effi-
ciencies and consumer benefits” raised by oppo-
nents of the change in control, such as Mr
Mitchell, URCA said that it would “consider the
efficiencies and benefits claimed by the merging
parties (BTC and CWC) when there is a likeli-
hood of a substantial lessening of competition in
a market”.

Given that it does not see the acquisition of
BTC by CWC as likely to lessen competition in
the Bahamas telecoms industry, URCA suggest-
ed such claims regarding “efficiencies and bene-
fits” do not come into play.

Mr Mitchell reiterated his belief that URCA has
a “credibility problem”, telling Tribune Business
the body’s decisions “are really not worth the
paper their written on”.

“It is very interesting that the Prime Minister
was able to say that URCA breached the rules in
connection with the hiring of foreign personnel,
and that his government was going to write them
a letter asking them to act according to govern-
ment policy. The first question in my mind is:
What else can (the government) direct URCA
on?” he added. Mr Mitchell said that as an “inter-
ested individual” he will review the reasons given
by URCA for approving the change in control
of BTC, and “if necessary take the necessary court
action”.

coming to a consensus on addressing
some of the barriers that have tradi-
tionally limited the extent to which
they have been able to work together,
is planned for summer 2011.

“We’re hoping we can have a trade
symposium between the manufacturers
and the operators, where they can sit
together, look at what's available, talk
about pricing issues, marketing issues
and begin this serious process of net-
working and negotiating to ensure the
viability of this trade for all concerned,
because if one fails all fail. We want
them to sit down and work things out,”
said Ms Keju.

According to the Works official, the
Straw Market is “on target” both in
financial terms and construction sched-
ule, and remains set for a “late sum-
mer, end of year 2010” opening. Inte-
rior work, including the installation of
counters for vendors and utilities is
currently underway.



HITTING OUT: Fred Mitchell, MP for Fox Hill

Fa)

BAHAMAS FIRST

PG? IF INSURANCE TORY. TOMORRIY,

Career opportunity for an ambitious career oriented individual

Application Support Specialist

Our Application Specialist must have excellent Service and Customer
Skills and must be an expert in Application Support in a multi-tier
environment (IIS, Java, Apache / Tomcat & HTML / XML) with
experience in XML / HTML front end applications.

Skills:

e IS e Java
e Websphere

Qualifications:

e Apache / [Tomcat
e Communications Framework e SOL Query

e HTML / XML

e Relevant IT education to degree level
e 3 years Project Management Experience (Certification a plus)

Competencies:

e 3+ years experience working with IT groups or proprietary
application software support environments in a demanding,

dynamic environment

3+ years experience working with User Groups

Experience in defining, establishing and implementing testing
‘best practices’ techniques, policies and standardized trouble
shooting in addition to workflow procedures

Documenting issues and working with other functional groups
to develop updated processes and workarounds.

Strong client focus: troubleshooting and follow-up skills;
commitment to continuous improvement.

There will be shift work involved.

Compensation commensurate with relevant experience and

qualifications.

Sharon R. Block
Clerk of ye Court

oe 1 43 NNO
Deputy Clerk
RELL J MWOKRIS

If yOu are a person with a disability who needs any accommodations in order to
participate in this proceeding, you are enlithed, at no cost bo you, to the provisions of
certain assistance. Please contact the ADA coordinator at the Palm Beach County
Courthouse, 3188 PGA Blvd., Palm Beach Gardens, FL 33418, Telephone number
(567) 355-2431, wilhan two (2) working days of your receipl of thes Notice of Feearing, If
you are heaming or voice impeired, call TOD 1-800-955-8771

The Bahamas First Group is the largest property and casualty insurance
company in the Bahamas and has an A- (Excellent) Rating from A. M.
Best, reflecting the company’s financial stability and sound risk
management practices.

Please apply before aith March, 2011 to:

Group HR & Training Manager
Bahamas First Corporate Services, 32 Collins Avenue
P.O. Box SS-6268
Nassau, Bahamas

Or email to:
careers@bahamasfirst.com





PAGE 4B, FRIDAY, MARCH 11, 2011

THE TRIBUNE



SES
Robin Hood ‘under attack

FROM page 1B

Bahama residents.

“A more long-term eco-
nomic benefit of a reliable
and sustainable green power
source will be the attracting
of other businesses to
Freeport, Grand Bahama,
and the expansion of existing
businesses.”

The plant will operate as a
green power gasifier, turning
Refuse Derived Fuel (RDF)
into gas to generate energy.
The gas will be taken to a
Heat Recovery System Gen-
erator (HRSG), which con-
verts it into steam to power a
turbine.

“The turbine will generate
electricity that will be sent to
the grid for power use. The
project is proposed in two
phases, each phase having the
capability to produce up to 35
MW (gross) or 30 MW (net)

$100m renewable
plant’s jobs boost

? let go from the two-store retail-

to West Palm Beach, Florida

Caen Business on Wednesday, when

: he also branded reports of lay-

Implementing waste-to- : offs at the retailer, which has a

energy and other renewable : 300-strong staff, as “not at all
? true”, Mr Schaefer said the last
: significant staff cut backs were
said, would reduce this }
nation’s greenhouse gas emis- }
sions, as well as fossil fuel }
imports, and boost energy } :
? week’s period do we let go
? three-four people? Yes. In a
? week, do we hire four-five peo-
? ple? Yes, absolutely.”

in two phases of renewable
(green) power,” E Fuels
Bahamas said. That power
volume is significant, given
that Grand Bahama’s maxi-
mum electricity demand in
2009 was 73 MW.

RDF is generated from
municipal solid waste, and is a
blend of paper and plastic,
with chipped tyres added in
to generate extra heat. It is
derived, E Fuels Bahamas

said, from residential waste,
not industrial waste, with
glass and metals removed.
“The initial feedstock for
the green power plant will be
prepared RDF shipped from
West Palm Beach at a blend
of 70% RDF and 30% tires
(blended onsite),” the com-
pany added. “The prepared
RDFis baled, plastic wrapped
and put into standard sea-
going containers for shipment

Leading Multi-National Company is looking for
Talented Candidates for the following position:

Administrative Assistant

ROLE:

Performs administrative duties for the General Manager and Sales Team. Responalble for the Human
» Maintains all persia bags and private files. Processes monthly
I

Resources function for the Com
pee and related duties using

“based Payrall Program. (

fessenger'Clerk and Housekeeping Services.

NECESSARY SKILLS:

* Graduate of a Business or Secretarial School
* Minimum of five (3) years experience in the administrative and‘or human resources held
* Ability to use Microsoft Office (Word Processing, Excel, and PowerPoint)

* Excellent organizational skills, and ability to work on own initiative

mat

es activities of the contracted

» Committed to the highest standards amd confidentiality in the work place
* Typing 30-60 wpum, (minimum)
* Knowledge of bookkeeping and accounting principles

If you meet the position’s requirements, please send your resume by email to:

BAHAMAS erst

PIEST |W INSURANCL TODAY. TOMORROW.

Career opportunity for an ambitious career oriented individual

Motor Engineer

Major Responsibilities:

¢ Conduct inspections of damaged vehicles and compile and
review repair estimates

* Conduct pre and post-inspections of vehicles at BFG
Inspection Centre to determine market value, road
worthiness and acceptability of risk
Conduct on-scene accident investigations, take statements
and measurements
Monitor and control repair work with Approved Garages
Prepare reports and input data in the system
Provide customer service
Travel to the Family Islands

Qualifications:

High School Diploma
5 B.C.C.S.E.’s or equivalent with C passes or above,
including English and Mathematics
Minimum 2 years experience in auto mechanics
Experience in Automobile and Mechanical bodywork,
Traffic Collision Investigation, Repair, Refinishing,
Electrical and Engine Overhauling
¢ Strong customer service, communication and interpersonal

skills

¢ Proficiency in Microsoft Office Applications

Compensation commensurate with relevant experience and
qualifications. On the job training will be provided.

The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has an A- (Excellent) Rating
from A. M. Best, reflecting the company’s financial stability and
sound risk management practices.

Please apply before March 18", 2011 to:
Group HR & Training Manager
Bahamas First Corporate Services

P.O. Box SS - 6268
Nassau, Bahamas

Or email to:

careers@ bahamasfirst.com



by rail
Freeport, Grand Bahama.”

energy projects in the

Bahamas, E Fuels Bahamas

security.

Important

“The [former] is especially
important given that the :

annual average emission of } Pay cheques of some Robin
6.7 tons of CO2 per person } Hood employees had bounced
makes the Bahamas among } pita bees oe a gra

. ; .° ? them, an at some of the
the highest per capita emit- i retailer’s suppliers had been

ters of Greenhouse Gases } aha

: . ? chasing it for due payment for
(GHGs) in the world, E ? several weeks. “That’s just not
Fuels Bahamas said. “This } the case,” he said of both

could generate an interesting }
potential to sell Carbon Emis- }
sion Reductions (CERs) }
through the Clean Develop- }
ment Mechanism (CDM) :

developed under the Kyoto : the exception of maybe two, we

? pay cash in advance, and we’ve

Protocol.

ee wall grocery store side so we can get
reduce The Bahamas’ carbon better pricing.”
footprint by producing green }

power.

source and site.”

FROM page 1B

as “patently untrue” claims that
Robin Hood was this week in
the process of laying-off 25-30
staff with, as stated by Tribune
Business sources close to the
situation, some 15-18 persons

er on Wednesday.
First contacted by Tribune

those which took place in Jan-
uary.

“After that it has been the
status quo,” he added. “In a

Mr Schaefer also dismissed
claims, made by various retail
and wholesale sources, that the

claims. “TI don’t know where all
of this is coming from.”

When it came to supplier
payments, Mr Schaefer added:
“All of our local suppliers, with

done that since we opened the

Dismissing the claims that

? Robin Hood had run into finan-

“More importantly, the : cial difficulties, having possibly

project is designed to encour- }
age the local power company :
to provide a lower cost of }

power to residents, business } !
and industry, while improv- } Food Services to
ing the reliability through } pee Ord
diversified power-generating cash by delivery. That buys us a

? few more points, so how can

expanded too far, too fast, as
“Just sour grapes”, Mr Schaefer
added: “We’re paying all of our
local suppliers, from Bahamas
Asa H

NOTICE

EST-QUEST CORPORATION

In Voluntary Liquidation

Notice is hereby given that in accordance
with Section 138(4) of the International
Business Companies Act. 2000, EST-QUEST
CORPORATION is in dissolution as of March

4, 2011.

International Liquidator Services Inc. situated at
3rd Floor Withfield Tower, 4792 Coney Drive,
Belize City, Belize is the Liquidator.

LIQUIDATOR



we be behind with payments?
Show me an invoice, show me
something we haven’t paid, and
at the end of the day I will
address it.”

The Robin Hood president
then suggested to Tribune Busi-
ness that forces in the Nassau
business community and wider
society were out to get him, and
potentially force him out of
business, having been upset at
how his company had shaken
up the Bahamian retail industry
and forced rivals to lower their
consumer prices.

Telling this newspaper to
“connect all the dots”, when it
asked for the names of the
forces ranged against him, and
suggesting that recent articles
written about Robin Hood’s
new Prince Charles Drive store
may have sparked competitor
jealousy, Mr Schaefer said this
newspaper’s revelation that he
was in exploratory
merger/acquisition talks with
City Markets’ principals may
have prompted the rumours in
a bid to reduce his company’s
value.

“We're under attack right
now. There’s no question.
There may be a lot of people
who have something to gain by
putting us in a weak position,”
he told Tribune Business. “At
the end of the day, business is
tough for everybody. Do we
need to make it even tougher?”

Mr Schaefer said opposition
to Robin Hood had been
around “since the beginning of
time.” And he added: “There’s
one undeniable fact: Robin
Hood has changed the face of
retail on this island. We were
the ones who said: ‘The Emper-
or’s not wearing any clothes’.
We forced everyone to lower
their prices.

“These people hope to gain a
lot if we disappear from the
market. Do I have any inten-
tion of disappearing? No. I
have no intention of disap-
pearing gracefully and going
into the night.”

Robin Hood is currently talk-
ing to City Markets’ principals
and potential other interested
parties, but Mr Schaefer vehe-
mently denied that these moves
had been prompted by his busi-
ness running into financial dif-
ficulties.

The late opening of Robin
Hood’s new Prince Charles Dri-
ve store, which is now being
further impacted by the closure
of a portion of the road in front
of it due to road works, was
said to have cost the company
millions of dollars in revenues
over the Christmas 2010 period.

The expansive retailer had
hoped to open the new store in
time to catch the Christmas and
New Year shopping season, a
period that often accounts for
up to 40-50 per cent of some
stores' annual sales revenues,
but Tribune Business sources
suggested the opening was
delayed by the need to comply
with requirements stipulated by
the Ministry of Works and oth-
er government agencies.

Join the Leading Environmental Conservation
Organization in The Bahamas

JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND
PROGRAMME DIRECTOR
LEON LEVY NATIVE PLANT PRESERVE - ELEUTHERA

Position Summary: This position is located in Gowemer’s Harbour, Eleuthera
Candidate will be responsible for providing day to day managensentt and
supervigecn of Leon Levy Native Plant Preserve (LLNPPL Potential candidates
showkd have a hove for the Bahanvan env iponiieent. A strong inpercat in the
natural history and cultural history of The Bahamas is a plus

Primary Responsibilities:

General Preserve monagement duties

Develop all age schom cusiculom programs incheding detailed lesson
plans, teacher workshops, special summer programmes and om sibe

activites.

Owtreach to local and nalomal educabonal meltubons
Manat on aie programa incheding Doorn programme, special events

and intern programmes.

Serve as a community lisison between Local Goverment, Ministry of
Tourism, local businesses and other agencies.

Qualification and Experience:

M5 or GS Degree in Environmental education, Geology or Botany with

a minimum of 5 years’ experience

Demonstrated experience in Program development

Teaching certificatian a plus
Proficiency in MS Ollie sista.

Sirome organizational and tine mamaeenend skills
Excellent oral and written communication skills

To apply: Submit cower letter, resume and three references io the Bahamas

National Trust, Attn: Human Resources mvemyesitbet.bs by
O11.



18th,



THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 5B



‘No evidence’ BIG = Port licencees move

FROM page 1B

lessening of competition”
resulting from the $210 mil-
lion acquisition by CWC.

Pointing out that its pow-
ers under the Communica-
tions Act only allowed it to
block industry mergers and
acquisition on competition
grounds, and when the pur-
chase of media assets was
against the public interest, the
regulator concluded of the
BTC privatisation: “URCA
finds that the change in con-
trol contemplated by the
transaction would not have
either of the adverse effects
set out [in the Act’s] section
72; substantially lessening
competition, or for a change
in control involving a media
public interest, an effect con-
trary to public interest.”

Essentially, because CWC
does not already have a pres-
ence in the Bahamian com-
munications market, URCA
found that its BTC acquisi-
tion - taking over majority
control at an existing operator
- would have no impact on
current competition levels.

However, one respondent
(possibly Cable Bahamas) to
URCA’s consultation process
on the BTC deal suggested
that the privatisation by CWC
would create “a substantial
lessening of competition in
several markets”, as it meant
the company’s Caribbean
business, LIME, would not
enter the Bahamas as a com-
petitor to BTC.

Noting BTC’s dominant
share of the fixed-landline
and cellular markets, where
according to URCA the state-
owned incumbent holds a 98
per cent and 100 per cent
market share, respectively,
this respondent argued that
the extension of BTC’s post-
privatisation cellular monop-
oly from two to three (likely
four) years, had effectively
extended the company’s abil-
ity to cross-subsidise its other
businesses with profits from
the cellular side.

“The transaction will cause
a lessening of competition in
the fixed markets, as it
extends the licensee’s ability
to leverage its mobile monop-
oly to impede the growth of
competition in the fixed voice,
broadband, domestic long dis-
tance and international long
distance market,” the respon-
dent said.

“The transaction will cause
a lessening of competition in
the international services mar-
kets because [CWC] will have
an incentive and the ability to
favour [BTC] over other
operators licensed to provide
international services to cus-
tomers in the Bahamas.”

This was because, the
respondent argued, CWC’s
Caribbean affiliates held dom-
inant positions in their home
markets, and had the ability
to offer call termination ser-
vices to BTC “on price terms
and conditions which dis-

criminate against other inter-
national services providers in
the Bahamas”.

And the same respondent
also expressed concern that
CWC, with its ‘One
Caribbean’ operating model,
“would be in a position to
cross-subsidise” BTC by pro-
viding operational, manage-
ment and administrative ser-
vices to it at lower prices,
enabling the privatised enti-
ty to “engage in anti-compet-
itive cost shifting”.

“These practices may not
be addressed by, or be
detectable under, URCA’s
current cost accounting and
accounting separation rules,”
the respondent said.

In response, URCA said it
was impossible for it to spec-
ulate on what would happen
through the extension of
BTC’s cellular monopoly
from two to three years, as
this was a matter that had yet
to be debated and passed by
Parliament.

Monopoly

This, it added, was a matter
for the Government and Par-
lament, not itself, although it
noted that the cellular
monopoly was “core” to
BTC’s value and that a failure
to consummate the CWC deal
might set back the introduc-
tion of competition in this
market even further.

When it came to interna-
tional services, both BTC and
CWC estimated that the for-
mer’s market share was
between 5 per cent and 25 per
cent of total revenues.

While BTC owned and
operated the Bahamas II fibre
optic cable, which provided
connectivity between Florida
and New Providence/Grand
Bahama; the cable system
linking the other Bahamian
islands and Haiti; and the
satellite earth station at Solid-
er Road for European con-
nectivity, this was balanced
by the competing infrastruc-

ture of Cable Bahamas and :
Columbus Communications, ; that same year, and now the Communica-

Another international con- | tions Act 2009, could erode both its rights to

nectivity provider, Global i
Nexus Communications, had }
been licensed to provide con- }
nectivity to Freeport, and :
while CWC had cables that ;
terminated in Florida they
were not substitutes for }
BTC’s, as they did not link }
i GBPA in a somewhat untenable position.

the Bahamas.

When it came to concerns }
about CWC providing pref- }
erential call rates for BTC, }
and leveraging its mobile :
monopoly to ensure that calls }
by BTC customers were rout- }

ed along CWC’s networks,
that.
On the fixed-voice side,

was estimated to have 98 per
cent market share,

FROM page 1B

licence this industry in Freeport and "require
us to breach the Hawksbill Creek Agree-
ment".

A draft February 14, 2001, letter from Sir
Albert Miller to then-finance minister, Sir
William Allen, on this issue, warned: "The
proposed draft agreement first sent to us
by the Office of the Prime Minister places

"To agree to the assignment of our rights,
as proposed therein, would require us to
breach the Hawksbill Creek Agreement."

In their affidavit, Messrs Lowe and May-
nard said the question of whether the Com-
munications Act applied to Freeport “raises

: issues of law requiring an interpretation of
URCA said its regulatory }
powers enabled it to deal with ;

provisions of the Agreement.
“Licensee members of the Association

! wish to be heard in relation to that question,

; ; i as it concerns the meaning and legislative
URCA said that while BTC :

effect of the 1999 Act and its potential abro-

gation or amendment of the Agreement.

the :
remaining 2 per cent belong- ; any abrogation or amendment of the Agree-
ing to Systems Resource

Group’s (SRG) IndiGo }
brand, this data did not
include Voice over Internet :

pai oe protection of our rights and interest

; depend.”

calls made via calling card.

Turning to the claim that ; ian
the ‘RIC privatisation a : ment vested GBPA licencees “with rights of
vents CWC from entering the

Bahamian market as a com- } COnStitutional protection”, Messrs Maynard

petitor to the state-owned }
incumbent, thus constraining :
its behaviour, URCA said the }
fixed line and data markets }
had been open to competitors
since 2009, and CWC had }
made no move to obtain the }
: GBPA and its legal advisors by David Davis,

“URCA believes that the }
high cost of entry and long }
time to roll-out in the fixed
services markets (particularly i
those in which [BTC] has sig- }
nificant market power) sub- :
stantially decrease the likeli- :
hood of [CWC] entering the ;
market, save by way of acqui-
sition of existing licensed }
operators,” the regulator said.

And, on the data side, com- }
petition would not be impact- }
ed because BTC has just a 30 }

necessary licences to do so.

per cent market share.

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) ORTO MARKETING LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 10th 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



Leading Multi-National company is looking for
Talented Candidates for the following position:

ROLE:
Achieve success and
ibe

execution in Terminal Opentions through manag

ODereOnS personnel On a Chay to chy baesks.

Parades ng
for prodect receipt storage 2nd disoribution and al opexstions related to teem. Ensure Terrinay Pit acc hiticcs ane

sextteend inary deride heed.

NECESSARY SRTLLS:

.
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Demonstrates leadership

Bachelors degnen in Fagineering of rodatesd fetes

Al least 7 years of eoperience in areas of abecdy

rong ithe personal effectiveness and communicabon skills
Cognitna/ technical beeiness knovdiecge

Pousmdees. the ability to think analytically, inncestve and exercise sound judgment
Has & commitment b> high standards

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Tf you meet the position’s requirements, please send your resume by email to:
recruitmenthbahamas@ yahoo.com

REF SOE



“As licensees, we stand to be affected by

ment, and we are compelled therefore to
take appropriate steps when (and if) neces-
sary to safeguard the inviolability and
integrity of the Agreement upon which the

Alleging that the Hawksbill Creek Agree-
a proprietary nature that are to be afforded

and Lowe alleged that all licencees derived
their rights and status from it. They also
had the right to be consulted and heard,
and consent to any amendments to the
Hawksbill Creek Agreement.

The Government's current position is set
out in two letters sent in late 2009 to the

permanent secretary in the Prime Minis-
ter's Office, in which he states: "The Gov-
ernment's position is that there should be a
single regulator for the electronic commu-
nications sector of the Bahamas."

Adding that the Bahamas Telecommuni-
cations Company (BTC) post-privatisation
was expected to continue operating in

*y

4

to intervene on URCA

eal anti-competitive:

Freeport under the current licensing regime,
Mr Davis added: "Having regard for the
provisions of the Hawksbill Creek Agree-
ment, the Government is minded, using
moral suasion, to seek the cooperation of
your [Port Authority] Board in agreeing
that the URCA regime might be extended
to Freeport. In this regard, I herewith for-
mally seek the concurrence of your Board."

Various drafts have been kicked back and
forth, the most recent, according to an
August 31, 2009, legal opinion prepared by
Graham, Thompson & Co's Robert Adams
for GBPA president Ian Rolle, having been
a draft Deed of Assignment sent on June 18,
2009, by T. B. Donaldson, chair of the Gov-
ernment-appointed privatisation commit-
tee.

According to Mr Adams, this draft
involved the GBPA assigning all its rights to
licence and regulate the provision of elec-
tronic communications services within the
Port area to URCA for $1.

"GBPA's rights under the existing busi-
ness licences that have been issued to elec-
tronic communications services providers
in the Port area will be included in the
assignment," Mr Adams wrote.

"For example, all of GBPA's rights,
including the right to collect the licence fees,
under its licence agreement with BTC and
Cable Bahamas will also be assigned to
URCA."

Summing up the implications, Mr Adams
warned: "Although it is our view that the
Deed does not purport to 'amend' the terms
of the Hawksbill Creek Agreement, it must
be noted that an assignment of a part of
GBPA's rights under the Hawksbill Creek
Agreement to a third party would repre-
sent a very significant change to the regula-
tory landscape in the Port area.

"Accordingly, if GBPA is prepared to
give up its rights to regulate the electronic
communications sector in the Port area and
negotiate mutually acceptable commercial
benefits and terms for an assignment of such
rights to URCA, it is our recommendation
that GBPA engage in a well-planned, struc-
tured and transparent process of public con-
sultation with its existing stakeholders and
licencees prior to entering into such an
assignment despite the fact that there is no
strict legal obligation on GBPA to do so."

ie
nee 8

The National Insurance Board
of the Commonwealth of The Bahamas

Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms to submit a proposal
toserveas independent auditors for che audit of the Nacional Insurance Fund's consolidated financial
statements for the fiscal year ending December 31, 2011, subject co renewal for an additional rwo
years, The financial statements are to be completed in April, following the year-end.

The 2009 Annual Report can be accessed at www.nib-bahamas.com

The proposal should include, but not be limited to

1. General information on che fiem and its local and/or international affiliates,

2. The qualifications and experience of the principals of the firm, including comments regarding
other professional statt members’ skills and competence.

. Information on the firms audit experience in financial institutions similar in size or nature to

the NIB,

+. ‘The approach and time-line chat will be adopced for che audit and relaced services thar che firm

can provide the NIB.

. Comments with respect to the firm's independence.

5. Estimates of fees and billings.

Proposals should be addressed Ti:

The Director
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

and marked “Proposal to Serve as In

endent Auditors”, to active at the Ditector'’s Office no

lacer chan 4:00 p.m. on Friday, April 29, 2011. The NIB reserves the right co reject any or all

tenders.





Full Text
PAGE 6B, FRIDAY, MARCH 11, 2011

THE TRIBUNE



GLOBAL ECONOMIC NEWS/AP

Planning moves. Stocks lift household wealth

On ‘prosecution’
of sign owners —

FROM page 1B jh. A

it



Archie Nairn, Permanent
Secretary in the office of the
Attorney General, said that
from its perspective,
whether prosecution of the
businesses will occur is still
to be determined.

“The matter is now under
review. It hasn’t yet been
concluded, but essentially
physical planning wanted a
legal opinion (on how to
proceed),” said Mr Nairn.

The most prominent digi-
tal billboards include Robin
Hood’s on Tonique
Williams-Darling highway,
and two bill boards which
have been erected on the
corner of the Fox Hill/Prince
Charles Drive junction and
on Shirley Street. Baha Mar
operates another digital bill-
board on Cable Beach,
which its vice-president of
external affairs, Robert
Sands, says was erected with
the permission of the Gov-
ernment.

Sandy Schaefer, owner of

i? DAVE CARPENTER,
i AP Business Writers
? JEANNINE AVERSA,
:? AP Business Writers
: WASHINGTON

i Americans’ wealth grew 3.8
? percent in the final three
? months of 2010, boosted by

Robin Hood, has previously : gains in stock portfolios. Com-
? panies, meanwhile, added to

stated that his company ; : : :
planned to fight the Hovern- } their cash stockpiles, which

ment order to take down the : teached their highest point in
billboard, which provides : ae a ‘i lectern

advertising for Robin Hood } Spar i La momen
and Mario's Bowling, owned i $56.8 trillion in the October-
by his Tonique Williams- ee ee

: : i though the value of real-estate
Darling Highway store loca- : holdings fell 1.6 percent, the
tion’s landlord, Leslie

, i Federal Reserve said Thursday.
Miller. : Last quarter's gain exceeded

VACANCY

Property Management Company is
immediately seeking an_ entry-level
maintenance worker for its multi-

floor commercial building. The ideal
candidate will be required to perform
general building maintenance and
repair work involving plumbing and
electrical skills; some heavy lifting is

required. The candidate must work
well independently, take initiative and
be a team player.

Attractive benefits

Reply in confidence to:

vacancys0@gmail.com

(only short-listed applicants will be contacted)

ROYAL FIDELITY

Moray at Work



while companies amass cash

ae |
: sg ft fe
ey Da



ae ae
Ee ge ms 8

=

(AP Photo/Paul Sakuma)

? STOCK RISING: In this Feb. 28, 2011 photo, a customer looks at two new 2011 Dodger Chargers at a deal-
: ership in Burlingame, Calif. Americans’ wealth grew 3.8 percent in the final three months of 2010,
: boosted by gains in stock portfolios. Companies, meanwhile, added to their cash stockpiles, which
? reached their highest point in more than a half-century.

Still, it would have to rise an
additional 16 percent to reach
its pre-recession peak of $66
trillion.

Companies are still holding
tight to their cash. Their cash
pues grew to $1.89 trillion last
quarter. That's the most on
quarterly records dating to
1952.

Economists predict that com-
panies will use more of their
cash this year to make capital
investments and boost hiring.

In the April-June quarter,
net worth posted its first decline
since 2009, when Europe's debt
crisis bred turmoil on Wall
Street. Since then, stock gains
have continued to rebuild
Americans’ wealth.

the 2.6 percent increase in net
worth in the July-September
period.

So far this year, stocks have
risen more than 3 percent. Fur-
ther gains in wealth could lead
Americans — especially higher-
income consumers — to spend
more, strengthening the econ-
omy.

Net worth is the value of
assets such as homes, checking
accounts and investments,
minus debts like mortgages and
credit cards. It's now risen for
two straight quarters after
shrinking last spring.

Americans’ net worth is well
above the bottom hit during the
recession: $49 trillion in the Jan-
uary-March quarter of 2009.

Gov't tendering
reform ‘critical’

FROM page 1B

government procurement functions. It’s an important
grant, and will go a long way to improving the internal
tendering process for these works. It needs it.”

The project is designed to improve the Government’s
procurement system through the use of information and
communications technology, creating a database of Bahami-
an companies who are eligible to participate in tendering
processes, thus improving the access of small and medium-
sized enterprises to public sector contracts.

“The goal of this project is to contribute to the moderni-
sation of government procurement systems that will be
more aligned to regional and international standards with
new provisions for promoting the participation of medium
and small and medium-sized enterprises,” the IDB said.

Government procurement is critical in developing/sus-
taining such businesses, and helping them to grow, and Mr
Wrinkle said of the project: “It’s critical, particularly in
light of the fact that these huge infrastructure projects are
going to be awarded to international firms.

“It makes it more imperative that contracts can be award-
ed to Bahamian contractors, and that they are above board,
transparent and involve the maximum number of parties.”

Adding that the Bahamas often seemed to “live in crisis
management”, Mr Wrinkle said that “some regularisation of
the protocols and the form of tender process is necessary.
The Government awards a lot of contracts during the course
of a year, but more regularisation will help. The grant is very
timely, and we will assist in any way possible”.

CAPITAL MARKETS
BROKERAGE & ADVISORY SERVICES

Bes]

creer ca wT AT.

BISX LISTED & TRADED SECURITIES AS OF:
THURSDAY, 10 MARCH 2011
BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | CHG 0.02 | YTD -42.70 | YTD % -2.85
FINDEX: YEAR END 2008 -12.31%
WWW .BISXBAHAMAS.COM | TELEPHONE: 242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Securit _y
0.95 AML Foods Limited 1.09
9.05 Bahamas Property Fund 10.63
4.40 Bank of Bahamas 4.50
0.17 Benchmark 0.18
2.70 Bahamas Waste 2.70
1.96 Fidelity Bank 1.96
9.44 Cable Bahamas 10.21
2.35 Colina Holdings 2.40
5.80 Commonwealth Bank (S1) 6.80
1.90 Consolidated Water BDRs 2.16
1.40 Doctor's Hospital 1.40
5.25 Famguard 5.25
5.88 Finco 5.88
8.77 FirstCaribbean Bank 9.39
4.57 Focol (S) 5.40
1.00 Focol Class B Preference 1.00
5.50 ICD Utilities 7.40
9.80 J. S. Johnson 9.82
10.00 Premier Real Estate 10.00

Previous Close Today's Close

EPS $ Div $
0.123
0.013
0.153
-O.877
0.168

Change Daily Vol.
10.63 0.00

4.40 -0.10

0.18 0.00.

2.70 0.00.

1.96 0.00, 0.016
10.24 0.00. 1.050

2.40 0.00. 0.781

6.80 0.00 0.488

2.07 -0.09 oO.111

1.40 0.00. 0.107
O357
0.682 8.6
0.494 418.0.
0.452 12.1
0.000 N/M
0,012 616.7

S.25 0.00
5.88 0.00,
3.39 0.00.
5.47 0.07
1.00 0.00
7.40 0.00
8,82 0.00 0.859 11.4
10.00 0.00. 1.207 8.3

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

S5S2wk-Hi__S2wk-Low Security
Bahamas Note 6.95 (2029)
Fidelity Bank Note 17 (Series A) +

Fidelity Bank Note 22 (Series B) +

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Fidelity Bank Note 13 (Series C) +
Fidelity Bank Note 15 (Series D) +

Last Sale

Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015

Change Interest
99.46 0.00 6.95%

100.00 0.00 7%

100.00 0.00 Prime + 1.75%

100.00 0.00 7%

100.00 0.00 Prime + 1.75%

Daily Vol.

A look at economic developments and activity in major stock mar-
kets around the world Thursday:

LONDON — Weaker-than-expected economic data from the U.S. and
China and the battle for control of Libya weighed on European stock
markets while a debt rating downgrade of Spain hit the euro a day ahead
of a crucial meeting of European Union leaders.

The FTSE 100 index of leading British shares closed down 1.6 per-
cent, ee DAX fell 1 percent and the CAC-40 in Paris was 0.8 per-
cent lower.

TOKYO — Earlier in Asia, Japan's Nikkei 225 stock average ended 1.4
percent lower after the government said the economy shrank 1.3 per-
cent in the fourth quarter.

China's Shanghai Composite Index closed down 1.5 percent and
Hong Kong's Hang Seng index retreated 0.8 percent.

BEIJING — China reported an unexpected trade deficit in February
as surging prices for oil and other commodities pushed up its import
bill. February export growth plunged to 2.4 percent as businesses
were idled for the weeklong Lunar New Year holiday while imports of
ee ee oil and other goods rose 19.4 percent for a deficit of $7.3

illion.

MADRID — Moody's lowered Spain's credit rating, citing worries
over the cost of the banking sector's restructuring, the government's
ability to achieve its borrowing reduction targets and grim economic
growth prospects.

The agency reduced Spain's rating by one notch to Aa2 and warned
that a further downgrade is possible if indications emerge that Spain's
fiscal targets will be missed, and if the public debt ratio increases
more rapidly than currently expected.

NEW YORK — Oil prices tumbled as economists warned that the
recent surge in fuel prices will eventually hurt the fragile economic
recovery.

WASHINGTON — A surge in oil prices and rising demand for foreign
cars and machinery helped push imports up at the fastest pace in 18
years in January, giving the country the largest trade deficit in six
months.

The January deficit increased 15.1 percent to $46.3 billion, while
exports rose 2.7 percent to an all-time high of $167.7 billion. But
imports rose at nearly twice the pace of exports, to $214.1 billion. A big
jump in demand for a variety of foreign goods from industrial machin-
ery and telecommunications equipment to autos drove the increase.
America's foreign oil bill rose 9.5 percent, underscoring concerns that
higher oil prices could slow the economic growth.

ATHENS, Greece — Greece's finance minister asked the EU to
urgently reform the way ratings agencies are allowed to operate after
what he called "unbalanced and unjustified" downgrades of Greece
and other struggling European economies.

George Papaconstantinou wrote in a letter that a ratings cut of
Greek debt by Moody's this week risked creating damaging self-fulfilling
prophesies."

FRANKFURT — Exports of trade powerhouse Germany slipped 1 per-
cent in January from the previous month, but sales abroad were still
higher than a year ago. Economists at UniCredit said China passed the
United States as an export destination for Germany.

BERLIN — German Chancellor Angela Merkel says her country will
insist that any bailout funds for highly indebted eurozone countries will
only be given out as a last resort and in return for strict austerity pro-
grams.

DUBLIN — Ireland's newly elected prime minister, Enda Kenny,
devoted his first full day on the job to lobbying European Commission
President Jose Manuel Barroso for a better bailout deal and cutting his
Cabinet ministers’ salaries.

LISBON — Debt-stressed Portugal's embattled government came
under further political pressure as Parliament debated a motion of no
confidence brought by a fringe party.

The largest opposition parties refused to support the motion, doom-
ing it to failure, but the debate was an unwelcome ordeal for the
minority government as it defends its economic record.

Markets are heaping pressure on Portugal, one of Europe's fee-
blest economies, as investors demand steep returns for lending the
country money amid fears it may not be able to pay it back.

CAIRO — International ratings agency Standard & Poor's down-
graded Libya's sovereign rating to junk status and suspended its rat-
ings for the country.

BERLIN — Germany froze billions of euros in assets of the Libyan
Central Bank and other state-run agencies, the latest move internationally
to attempt to cut off funding to Moammar Gadhafi's embattled regime.

The German asset freeze came into effect just as the European
Union announced that it was extending its own financial sanctions.

CAIRO — With Egypt's stock market closed for nearly five weeks,
analysts and bankers are growing increasingly worried that the full effect
of the protests that ousted Hosni Mubarak will be even larger than antic-
ipated. For the past few weeks, Egyptian officials have looked to down-
play the potential damage to the economy. They said growth for the cur-
rent fiscal year may take a hit, but the Arab world's most populous
nation would ride through the unrest. That is now being called seriously
into question.

TOKYO — Japan's economy shrank more than initially thought in the
fourth quarter. Real gross domestic product contracted at an annual-
ized rate of 1.3 percent in the October-December period, worse than the
negative 1.1 percent growth reported last month.

SEOUL, South Korea — South Korea's central bank raised its key

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

interest rate for the second time in three months as it steps up efforts
to control inflation that has risen to its highest level in more than two
years.

Symbol Bid & Ask Last Price EPS $ Div $ P/E
Bahamas Supermarkets N/A N/A 14.00 -2.945. 0.000
RND Holdings 0.35 0.40 0.55 0.001 0.000
CFAL Securities Ltd. (OQver-The-Counter Securities)
ABDAB 30.13 31.59 29.00
RND Holdings 0.45 0.55, 0.55,
BISX Listed Mutual Funds
Fund Name NAV YTD%
CFAL Bond Fund 1.5179
CFAL MSI Preferred Fund 2.9486
CFAL Money Market Fund 1.5837

Daily Wo.

4.540
0.002

0.000

0.000 —

NAV 3MTH
1.498004
2.918256
1.564030

NAV GMTH
1.475244
2.910084
1.545071

Last 12 Months %
6.90%
1.45%
4.59%

-15.54%
-O.22%
12.49%
7.18%
5.20%
4.73%
5.35%

BERLIN — German train drivers left thousands of commuters
stranded across the country with a rush-hour strike aimed at pressur-
ing the state-owned national railway and smaller, private operators for
higher pay.

5.51%

0.04%

0.61%
-0.56%
0.61%

9.98%

1.4076
2.8300
1.5141

28-Feb-11
11-Feb-11
31-Jan-11
31-Jan-11
30-Jun-10

2.7049
13.4392
114.3684
106.5528
1.1465
1.1185
1.1491

2.6522 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 FSG Financial Preferred Income Fund

1.0000 FG Financial Growth Fund

1.0000

9.1005

109.392860
100.779540

107.570619
4.75% 105.776543
5.20%
4.73%
5.35%

30-Sep-10
31-Dec-10
31-Dec-10
31-Dec-10

FG Financial Diversified Fund

Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1

10.0000 _ Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2

CAIRO — An official says that the six-nation Gulf Cooperation Coun-
cil has pledged $20 billion in financial aid to Bahrain and Oman over a
10-year period as the two nations struggle with protests that have rav-
aged the Arab world.

9.7950 4.85% 5.45% 30-Nov-10

10.6417 -1.20% 0.50% 30-Nov-10

9.1708 Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3

Royal Fidelity Int'l Fund - Equities Sub Fund

31-Jan-11
31-Jan-11

10.1266 1.27%
8.4510 0.72%
MARKET TERMS
YIELD - last 12 month dividends divided by closing price
Bid $ - Buying price of Colina and Fidelity
ASk $ - Selling price of Colina and fidelity
Last Price - Last traded over-the-counter price
Weekly Vol. - Trading volume of the prior week
EPS $ - A company's reported eamings per share for the last 12 mths
NAV - Net Asset Value
N/M - Not Meaningful
FINDEX - The Fidelity Bahamas Stock Index. January 1, 1994 = 100

1.27%
4.8105 9.95%
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wicHi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
S41) - S-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

MOSCOW — US. Vice President Joe Biden said Thursday that
Washington supports Russia's accession to the World Trade Organi-
zation because it will lead to greater trade between the two countries,
what he called the "next frontier’ of the relationship.


THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 7B



AOL cuts 900 jobs worldwide,
20 per cent of the work force

BARBARA ORTUTAY,
AP Technology Writers
RACHEL METZ,

AP Technology Writers
NEW YORK

AOL said Thursday it will slash 900
jobs worldwide, or nearly 20 percent of
its work force, partly to eliminate overlap
that stems from its recent purchase of
The Huffington Post.

About 200 of the cuts are from AOL's
content and technology departments in
the U.S. The remaining 700 are at AOL's
offices in India, which mainly provide
back-office support to the U.S. But AOL
spokesman Graham James said 300 of
those will move to other companies,
which are taking over support functions.

Thursday's cuts leave AOL with 3,500
employees in the U.S. and about 500
overseas. The total work force is a fifth of
what the company had at its peak in 2004,
when its staff numbered more than
20,000. The company pared thousands
of workers in the years leading up to its
separation from Time Warner Inc. in late
2009. After the companies broke up,
AOL cut about 2,300 of its then-6,900
employees — or about a third of its work
force — through layoffs and buyouts.

In the ‘90s, AOL was the king of dial-
up Internet access, known for its ubiqui-
tous CD-ROMs and "You've got mail”
greeting in its inboxes. The company
even managed to buy Time Warner at
the height of the dot-com boom in 2001.
But the companies never successfully
melded, and as consumers moved to
faster Internet services from cable and
phone companies, AOL's main source
of revenue dwindled.

Over the past several years, AOL has
struggled to reinvent itself as a company
focused on advertising and content, oper-



(AP Photo/Mark Lennihan)
AT THE HELM: Tim Armstrong, Chairman
and CEO of AOL, talks at a media summit,
Thursday, March 10, 2011 in New York. AOL
said Thursday it will slash 900 jobs worldwide,
or nearly 20 percent of its work force, partly to
eliminate overlap that stems from its recent
purchase of The Huffington Post.

ating a variety of websites such as the
popular tech blog Engadget. Since CEO
Tim Armstrong was lured from Google
Inc. to take the helm of AOL in April
2009, AOL has focused increasingly on
the market for local content, helped by
the purchase and expansion of its net-
work of Patch local news sites.

The company has continued to acquire
sites, too: Most recently, it paid $315 mil-
lion for The Huffington Post as part of its

day.

he added, "in our situation we don't have
the luxury of long-term planning.”
Armstrong said AOL will hire this year

he wants to increase that to 70 percent.

Armstrong maintained his confidence
about AOL's prospects for a comeback. }
"AOL will turn around,” he said. "No }

doubt about that."

But AOL's revenue is contributing less
and less to the overall online advertising }
market in the U.S., eMarketer Inc. ana- }

lyst David Hallerman said.

"If they're going to succeed, they're }
going to be succeeding as asmallercom- }
pany,” he said. "Therefore their success ;

won't be as big."

Although Hallerman said he sees }
promise in the company's efforts to }
establish itself as a local content provider, i
he said the ads that run on these sites }
bring in less revenue than those on its }
more popular websites. That means AOL i
will have to make that up by drawing a
lot of traffic. Clayton Moran, an analyst i
with The Benchmark Co., said that the
changes made since Armstrong took con-
trol are sensible and probably the best }

route the company could take.

But he said the changes "haven't
shown a lot of financial progress. It's tak- i
ing time for the changes to have an }

impact.”

Shares of AOL fell 4 cents to $19.30 in

afternoon trading Thursday.

United Technologies tweaks 2011 earnings guidance

STEPHEN SINGER,
AP Business Writer
HARTFORD, Conn.

United Technologies Corp.
on Thursday raised the lower
end of its profit guidance for
2011, saying businesses such as
elevators, commercial plane
spare parts and heating and air
conditioning systems are doing
well in the economic recovery.

The Hartford conglomerate
told analysts at its annual pre-
sentation in New York that it
expects to earn between $5.20
and $5.35 per share this year,
up from a prior range of $5.05
to $5.35 per share. The parent
company of Otis elevator, Car-

rier heating, ventilating and air
conditioning, Sikorsky Aircraft
and other businesses backed its
2011 revenue forecast of $56
billion to $57 billion.

Chief Executive Louis Chen-
evert credited United Tech-
nologies’ short-cycle businesses
— commercial airline spare
parts and installation and repair
of elevators and building heat-
ing, ventilation and air condi-
tioning systems for the guid-
ance revision.

"We are off to a great start
with continuing strength in our
short-cycle businesses and are
confident of achieving double
digit earnings growth in 2011
in spite of rising commodity
costs and higher technology

investments,” he said. Analysts
surveyed by FactSet are already
expecting earnings of $5.35 a
share and revenue of $57.07 bil-
lion for 2011. United Tech-
nologies shares tumbled $1.97,
or 2.4 percent, to $80.92 in late
trading amid a broad market
selloff.

United Technologies raised
the lower end of its earnings
guidance despite looming prob-
lems.

"We got the Middle East, we
got oil impact potentially but
at the same time ... we have
high confidence," Chenevert
told investment analysts.

Rick Whittington, an analyst
at Sturdivant and Co., said
United Technologies is in a

strong position as the economy }
improves. "The economic cycle }
still benefits UTC businesses," }
he said. The improvements

were already seen last year.

In its 2010 fourth quarter, i
United Technologies said }
stronger results from its airline }
commercial spare parts busi- }
ness and heating and cooling }
building systems operations }
helped push profit up 11.7 per- }
cent. "We've really seen the :
trend of Q4 kind of carry }
through so far in Q1," Chen- }

evert said.

Chief Financial Officer Greg i
Hayes said United Technolo- }
gies’ markets are doing as well }
as executives forecast in }

December.

PUBLIC NOTICE
INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, SOLOMON CASH
of Stafford Creek, Central Andros, Bahamas, intend to
change my name to SOLOMON MURPHY. If there are any
objections to this change of name by Deed Poll, you
may write such objections to the Chief Passport Officer,
P.O.Box N-742, Nassau, Bahamas no later than thirty (80)
days after the date of publication of this notice.

NOTICE is hereby given that ROBERT WASHINGTON
WILLIAMS, of P.O. Box CB-11983, Greenwood Palm,
Sandilands Village, 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 4"day
of March, 2011 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.

NOTICE
IN THE ESTATE OF LOWELL DOUGLAS BETHEL late of
Governor’s Harbour, in the Island of Eleuthera, one of the Islands
of the Commonwealth of the Bahamas.
Deceased.

NOTICE is hereby given that all person having any claims
against the above-named Estate are required, on or before the
18th day of April, A.D. 2011 to send their names and addresses,
and particulars of their debts or claims, to the undersigned, and
if so required by notice in writing from the undersigned, to come
in and prove such debts or claims, or in default thereof they will
be excluded from the benefit of any distribution AND all persons
indebted to the said Estate are asked to pay their respective debts
to the undersigned at once.

AND NOTICE is hereby also given that at the expiration of the
mentioned above, the assets of the late LOWELL DOUGLAS
BETHEL will be distributed among the persons entitled thereto
having regard only to the claims of which the Executrix shall then
have had notice.

AND NOTICE Is hereby given that all persons indebted to the
said Estate are requested to make full settlement on or before the
date hereinbefore mentioned.

Dated this 6th day of March, A.D., 2011.

c/o PYFROM & CO
Attorney for the Executrix,
No.58 Shirley Street,
P.O. Box N 8958
Nassau, N.P., Bahamas

LEGAL NOTICE
IN the Matter of PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED
(In Voluntary Liquidation)

By Written Consent Resolution of the Shareholders
taken effective on the 2â„¢ day of February, 2011, the
following resolution was adopted:

RESOLVED that the Company voluntarily wind up its
affairs and dissolve its corporate existence and that
Craig A. (Tony) Gomez of Baker Tilly Gomez, The
Deanery, 28 Cumberland Street, PO. Box N-1991,
Nassau, Bahamas, be appointed Liquidator of the
Company for the purposes of such winding up and
dissolution.

DATED the 2" day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator

LEGAL NOTICE

PEPSI-COLA (BAHAMAS)
BOTTLING COMPANY LIMITED

(In Voluntary Liquidation)

Notice is hereby given that the aboved named Company is
in dissolution, commencing the 2â„¢ day of February, 2011.
Creditors are required, on or before the 7 day of April
A. D., 2011, to send their names and addresses, and the
particulars of their debts or claims to the attention of Craig
A. (Tony) Gomez, Liquidator of the said Company at the
offices of Baker Tilly Gomez, The Deanery, 28 Cumberland
Street, P.O. Box N-1991, Nassau, Bahamas, and if so
required by notice in writing from the Liquidator, to come in
and prove such debts or claims at such time and place as
shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved or precluded from objecting
to any such distribution.

DATED the 2" day of February A. D., 2011

Craig A. (Tony) Gomez
Liquidator



GOVERNOR QUINN SIGNS LAW
TO COLLECT ONLINE SALES TAX

: SPRINGFIELD, Ill,

Illinois consumers may find themselves paying sales tax-

i es on some Internet purchases under a new state law.
efforts to become a go-to source for news

and other content. That deal closed Mon- } from online retailers through an Illinois-based partner.

The law says sales taxes must be charged when people buy

For instance, an Illinois business might sell products

Armstrong, speaking at a conference in } through Amazon.com.

New York, said the company has no :
immediate plans for further layoffs. But ;
: State, but they rarely do.

Online businesses generally don't charge state sales taxes.
Illinois customers are supposed to pay it directly to the

Proponents say the measure that Gov. Pat Quinn signed

Thursday will level the playing field between online busi-

and will try to have more full-time jour- } esses and brick-and-mortar stores. Opponents say it will dri-

nalists in its ranks to rely less on free- : : ee
lancers. He said about half the employees veousincss Ou CeTTinas:

now have content-producing roles, and }

BUY FRESH,
BUY BAHAMIAN

Family > 2 Rake nt
FUN! Scrape

gee

hleet everend Jahn
’ aie ete is

Lime, Lemon & Navel Crange Trees
starting at $30
omegranate | fees starting at $15
{any o oc ce
amanenta ;

Meet the
FARMERS. -
mY

as wellas
“al

& fruit ou see

Vegetables ~ hot & goat pepper, beets, beans, greenpeas, cucumbers
Fruit ~ papaga, sugarcane, watermelon, coconut, oranges, bananas
Plants ~ flowering trees, avacado, manga, breactrut, governer plum
“i (oods ~ homemade breads, carn bread, aasarted pastries
reserees ~ assorted jell? Siam, honey, Pepper sauces
Mise ” plant beverages, assorted fruit pace, island grits,
islanct salt, scasorimes & sprees

UCDO Og ERS OU PRUs ick ce rr rr



COMMONWEALTH OF
THE BAHAMAS

IN THE SUPREME COURT
Equity Division

KRETWEEN

2010 Mo. 00033

IX THE MATTER OF THE
QUIETING TITLE ACT, 1959

ARO

IX THE MATTER of the Petition of
Clayton Culmer and Sheena Colmer

ASD

IN THE MATTER OF ALL THAT piece parcel or ler

of land situate in the Westem District of the Island of

New Prowkdence containing 26,012 square feet bemp Lot Number
‘Thorty-Two (32) ofthe Subdivision called and known as “Summer
Haven Estates” situate on the Exslerm Side of Blue Hill Road Moth af
Highland Drive and approximately 120 feet North of Marshall Road
which said Lot of land ix hounded NORTHWARDLY by Lot Nursber
Tharty (30) of the saed Subdivision and runming thereon One Hundred
and Sixteen and Filty-Two hundredths (1 16.52") feet EASTWARDLY
by a portion of Lot Number Thirty-one (21) and Lot Number Thirty
Three (33) of the said Subdivision and running thereon One Hundred
and Seventy Four and Seventeen Hundredihs (174.177) feet
SOUTHWARDLY by the said Highland Drive and running thereon
(One Hundred and Eighty Two and One Handredths (182.10") feet and
WESTWARD by the said Blue Hill Road and running thereon Cine

Hundred and Fifty Nine and Ninety Two Hundredths (159.92) feet
which said pacce parcel or lot of lend and has such position, boundaries,
shape, marks and dimensions as are more particularly delineated on the
Plan filed with the Department of Lands and Surveys being Plan No.
5130 6.P

NOTICE

The Petitioners Clayton Culmerand Sheena Culmer claims to be the
ouner of the for simple bot of land in possessaon the tract of land
hereinbefore described free froon encumbrances

And the Petitioner has made applocation to the Supreme Court of the
aforementioned Commonwealth of the Bahamas under Section 3 of the
Quicting Toles Act, 1959 in te abowe action, to have this title to the
said tract of land investigated and the manure and extent thereof
Getermined and declared in a Certificate of Title to be granted in
accom@ance with the provisions af the saad Auct

Notice ts hereby given thal any person having a Dower or a right to
Dower or an adverse to claim or a claim not recognized in the Petitios
shall on or before the expiration of Thirty (30) days after the final
publication of these presents file in the said Registry of the Supreme
Court and serve on the Petitioner or the undersigned a Statement of his
claim m prescribed form verified by an affidavit to be filed therewith.
Failure of any such person to file and serve a Statement of his Claim on
or before the expiration of Thirty (30) days after the final publication af
these presents shall aperate a a har to such claims.

Copies of the said plan may be inspected during monmal hours at the
Registry of the Supreme Court, East Street Nerth, Massam, NP,
Bahamas or the Chambers of C. Yvette McCartney, Building No. 10,
Seventh Terrace West, Centreville, Nassau, Bahamas
Dated the 15" day of Febeuary, A.D., 2001


PAGE 8B, FRIDAY, MARCH 11, 2011

THE TRIBUNE






CiiNe
S&P lowers



Lihya ratings

TAREK EL-TABLAWY,
AP Business Writer
CAIRO

International ratings agency E

Standard & Poor's on Thurs-
day downgraded Libya's sov-
ereign rating to junk status
and suspended its ratings for
the country. Also, the rebel-
led government in the
nation's east said it would
honor existing contracts with
international oil companies.
The twin developments
spotlighted the challenges
confronting an oil-rich nation
that just weeks ago was well
on the path to redemption
after enduring years of sanc-
tions as a pariah supporter of

eign credit ratings for Libya to } Ching the US. and Spain com-

BB/B from BBB+/A-2, and
removed the ratings from
CreditWatch negative. It also
said it decided to suspend its
ratings on Libya "due to the
imposition of sanctions and
because of a lack of reliable
economic and political infor-
mation."

GCC pledges $20 billion
in aid for Oman, Bahrain

TAREK EL-TABLAWY,
AP Business Writer
CAIRO

pledged $20 billion in finan-
cial aid Thursday to Bahrain
and Oman, and warned
against any foreign interfer-
ence as the oil-rich region
struggles to rein in the unrest
that has ravaged the Arab
world and sent global oil
prices spiking.

The growing protests in
Bahrain and Oman — the
poorer brothers in the oil-rich



BUSINESS

i FRANCESCA LEVY,
i AP Business Writers
i MATTHEW CRAFT,

i AP Business Writers
? NEW YORK

terrorism. S&P said it lowered }
its long- and short-term sover-

Weak economic news from

i? bined with a slump in oil com-
? panies sent stocks sharply low-
i er Thursday.

Investors were jarred when

i China reported a surprise trade
i deficit in February. China's
? exports fell as businesses closed
? for the weeklong Lunar New
? Year holiday, but imports of
i higher-priced oil and other
? goods jumped, widening the
i country's deficit to $7.3 billion.

Meanwhile Moody's down-

i graded Spain's debt, re-igniting
i fears about the European debt
:? crisis. The downgrade also sent
i the dollar higher against the

region — have rattled the oth-

er members of the six-nation
Gulf Cooperation Council,
raising concerns that the
unrest tearing through the
Middle East will affect the
key OPEC members.

The GCC pledged $20 bil-
lion in aid over 10 years to be
split between the two nations,
said the United Arab Emi-
rates' foreign minister, Sheikh
Abdullah bin Zayed Al
Nahyan. A committee repre-
senting the donor nations will
meet in two weeks to discuss
the program. Foreign minis-

ters from the GCC announced

the measures after a meeting
in the Saudi capital, Riyadh.
The bloc also issued a state-
ment warning that it would
not allow any foreign interfer-
ence in their affairs.

Sony wins the release of
PlayStations seized by Lé

AMSTERDAM

A Dutch court Thursday
ordered LG Electronics to
release 300,000 Sony PlaySta-
tion 3s seized on its behalf by
Dutch customs officials earlier
this month as part of a patent
dispute case. The summary

Court was a short-term win
for Sony, as it can now regain
possession of the consoles and
resume distributing them.

But LG's aggressive pursuit
of its claim was a sign of the
high stakes both sides have in
their wider intellectual prop-
erty war. The court did not
immediately publish a written
version of its ruling, but
details were reported by De
Telegraaf, the Netherlands’
largest newspaper, and sever-
al video game fansites who
had reporters at the hearing.

Gulf Arab foreign ministers euro.

News that forces loyal to

das
PAU aaa

Libyan leader Moammar Gad-
hafi were poised to recapture
the strategic oil port of Ras
Lanouf from opposition forces
sent oil down in the morning.
But it jumped after Saudi Ara-
bian police fired at protesters.
In the late afternoon, crude oil
was trading below $103 a bar-
rel, below the high of nearly
$107 a barrel it reached on
Monday.

Stocks fell broadly, but ener-
gy companies were hit the hard-
est. Exxon Mobil Corp., the
largest company in the world
by market value, fell 3 percent.
Chevron Corp. also fell 3 per-
cent.

Oil has been surging over the
past few weeks because of the
spreading protests in North
Africa the Middle East. Libya
produces less than 2 percent of
the world's oil supply, investors
have been worried that unrest
will spread to major oil-pro-



(AP Photo/Richard Drew)
TOUGH TIME: Specialist Christopher Culhane works at his post on the
floor of the New York Stock Exchange Thursday, March 10, 2011.

ducing countries like Saudi
Arabia and disrupt the flow of
crude.

The Dow Jones industrial
average fell 204 points, or 1.7
percent, to 12,008. The Dow
had been down as many as 224
points earlier, sending it briefly
below 12,000.

Wal-Mart Stores Inc. and
McDonald's Corp. were the
only stocks in the Dow 30 that
rose. McDonald's was up 1.6
percent after reporting that
sales at restaurants open at least
a year rose more than expected.

The Standard & Poor's 500
index fell 21, or 1.6 percent, to
1,298. Energy companies fell 3
percent, the most of any indus-
try tracked by S&P. The last
time the index closed with a 20-
point drop was March 1, when
Federal Reserve Chairman Ben
Bernanke warned that a sus-
tained increase in crude prices
could pose a risk to the recov-

Stocks plunge on economic
news and oil price swings

ery. Only a handful of S&P 500
companies rose. Starbucks
Corp. rose 10 percent after
cementing a deal with Green
Mountain Coffee Roasters Inc.
to sell drinks in machines made
by Keurig. Netflix Inc. rose 4
percent.

The Nasdaq composite fell
43, or 1.6 percent, to 2,708.

Apart from several sharp
swings in the last month, stocks
have been rising nearly contin-
uously since last August, when
the Federal Reserve said it
would take steps to stimulate
the economy. Wednesday
marked two years since stocks
bottomed out at 12-year lows.

Quincy Krosby, chief market
strategist at Prudential, said the
market was shaken by the com-
bination of unexpectedly weak
economic news from China, the
downgrade of Spain's debt and
concerns that protests planned
for Friday in Saudi Arabia
could bring instability to the
world's largest exporter of oil.

"The tone of the market has
clearly changed,” Krosby said.
"The market trend had been to
buy rather than sell and that
bad news doesn't matter. The
momentum is slowing.”

The government reported
before the market opened that
new applications for unem-
ployment benefits rose more
than expected last week and
the trade deficit jumped in Jan-
uary. New unemployment
claims rose by 26,000, far more
than the 12,000 analyst had
expected. Applications fell to
nearly a three-year low the pre-
vious week.



SUPPLY WORRIES

: NEW YORK

: Grain prices fell Thursday after a government report
? eased concerns about shortages later this year.

: The U.S. Department of Agriculture predicted that
? corn and soybean reserves will be higher than initially
i? estimated, forecasting there will be about 123.1 million
i metric tons of corn left over after this year's harvest.
: That's up from an estimated 122.5 metric tons in last
? month's report. There should be about 58.3 million
i metric tons of soybeans left over, compared with last
? month's estimate of 58.2 million.

Corn for May delivery dropped 18.25 cents to $6.8275
i a bushel. Wheat also fell 18.25 cents to $7.405 a bushel.
i Soybeans rose 6.5 cents to $13.555 a bushel.

i Lower reserves caused global grain prices to double
? this year. Corn was trading for just $3.50 a bushel as
? recently as this summer. But growing demand from
? ethanol producers and consumers in developing coun-
i tries like China has stripped supplies. The government
: predicts corn reserves this year will be at their lowest lev-

i elin 15 years.

i: The longer-term trend for corn and soybeans will
i probably be higher, Sanow said, because global demand
? remains strong. But in the near-term, the recent run-up

i in prices is likely to ebb.

: The government estimates that food prices could rise
? more than 3 percent this year as processed food makers
: and grocery stores pass along higher costs for raw ingre-
i dients. Still, crops like corn and soybeans account for just
i 10 percent of the raw ingredients used in processed
? foods. So it can take months for higher prices to reach

ow ry £ consumers.
decision by the Hague District }

Oil prices fell Thursday on weak economic news from
? the U.S. and China, but regained some of their losses on
i reports from Saudi Arabia that police had fired on

i demonstrators.

? Oil fell as low as $100.62 Thursday morning, the low-
i est price in a week. The reaction to the Saudi develop-
? ment shows how sensitive the market is to news from the
: Middle East. Oil prices soared above $100 per barrel last
? week as an uprising in Libya essentially shut down the
i country's exports. Earlier in the day, economists were

i warning that the recent surge in fuel prices will even-
i tually slow economic growth.

? The economic news helped cause the earlier oil sell-
? off. China, which is expected to drive oil demand for
i years to come, reported overnight that surging oil and
? commodity prices produced a surprising trade deficit

i of $7.3 billion for February.



(AP Photo/Seth Perlman, file)
FALLING PRICES: In this Sept. 11, 2010 file photo, central Illinois farmers har-
vest their corn crops near Monticello, Ill. U.S. reserves of corn have hit their
lowest level in more than 15 years, reflecting tighter supplies that will lead to
higher food prices in 2011. Increasing demand for corn from the ethanol
industry is a major reason for the decline.

US: MORE PEOPLE
SOUGHT JOBLESS
AID LAST WEEK

CHRISTOPHER 8S.
RUGABER,

AP Economics Writer
WASHINGTON

The number of Americans
seeking unemployment bene-
fits rose last week. But the rise
comes after applications hit
their lowest level in nearly three
years, and economists expect
further declines as the economy
improves.

Applications increased by
26,000 to a seasonally adjusted
397,000 during the week end-
ed March 5, the Labor Depart-
ment said Thursday.

The latest report covers the
week after the Presidents' Day
holiday (Feb. 21), when many
government offices were closed.
Applications usually rise in
weeks following holiday-short-
ened weeks. The four-week
average, a less volatile measure,
rose to 392,250. The average
fell to its lowest level since July
2008 two weeks ago.

Applications below 425,000
signal modest job growth. But
they need to fall consistently
below 375,000 to signal a sus-
tained decline in the unem-
ployment rate. Unemployment
benefit applications peaked
during the recession at 651,000.

Economists were encouraged
that claims remained below
400,000 for the third straight
week. "We still interpret the
data as consistent with strength-
ening job creation,” said John
Ryding, an economist at RDQ
Economics.

A separate report Thursday
showed that a sharp rise in oil
prices helped push imports up
at the fastest pace in 18 years in
January. That caused the USS.
trade deficit to widen to its
largest level in six months.

The January trade deficit
increased 15.1 percent to $46.3
billion, the Commerce Depart-
ment said. Exports rose 2.7 per-
cent to an all-time high of
$167.7 billion. But imports rose
a faster 5.2 percent to $214.1
billion due to a big jump in
America's foreign oil bill. That
underscores concerns that surg-
ing oil prices could derail the
economic recovery.

Companies are hiring more,
after months of sluggish job cre-
ation. Employers added 192,000
jobs last month, the most in
nearly a year. The unemploy-
ment rate ticked down to 8.9
percent, the lowest level since
April 2009. More jobs should
boost incomes, which would
fuel more consumer spending
and in turn spur more econom-
ic growth and hiring. Federal
Reserve Chairman Ben
Bernanke referred to this cycle
last week when he said there is
"increased evidence that a self-
sustaining recovery in consumer
and business spending may be
taking hold."

At the same time, Bernanke
said, "until we see a sustained
period of stronger job creation,
we cannot consider the recov-
ery to be truly established.”

Economists worry that sev-
eral factors could slow or even
reverse the recovery, including
rising oil prices and state and
local government cutbacks.

Plenty of hiring is taking
place. Kohl's Department
Stores Inc. said Wednesday that
it is opening nine stores in sev-
en states, including Illinois,
New York, Virginia and South
Dakota. The move will create
1,200 jobs, the retailer said.

Thursday's report also
showed the number of people
receiving unemployment ben-
efits dropped by 20,000 to 3.77
million. That's the lowest level
since mid-October 2008. And
fewer people are receiving ben-
efits under emergency unem-
ployment aid programs funded
by the federal government.

An additional 4.3 million
unemployed workers received
benefits under the extended
programs during the week end-
ing Feb. 19, a drop of about
200,000 from the previous
week.


iV)

Pim blowin’ it

78F
65F

HIGH
LOW

SUNNY AND

~ WINDY

Volume: 107 No.91

eS ey

HELP

AND REAL ESTATE
SU Sa



VN eS

The I

ribune

LATEST NEWS ON WWW.TRIBUNE242.COM



FRIDAY, MARCH 11, 2011

Criminally -minded’
paid in BIG protest

Police association claims
some demonstrators were

‘advancing political groups’

By NOELLE
NICOLLS
Tribune Staff
Reporter
nnicolls@
tribunemedia.net

CRIMINALLY-
MINDED people
were overheard to say
they had been paid to
participate in the BTC
mass protest of Febru-
ary 23, according to
the Police Staffers Associa-
tion.

And it is also undeniable
there were people in the
crowd with potential criminal
motives, said Dwight Smith,



DWIGHT SMITH

Police Staff Associa-
tion (PSA) president.

The association yes-
j terday called on politi-
cians to stop politicis-
ing the issue, because
the observation of
these participants by
police was simply a
part of their job to
maintain law and
order and to ensure
the safety of protest-
ers and observers.

Mr Smith said the police
had a difficulty with partici-
pants in the protest who had
“nothing to do with BTC,”

SEE page eight

URCA APPROVES ACQUISITION OF BIC

THE Utilities Regulation & Competition Authority last
night approved Cable & Wireless Communications’ (CWC)
acquisition of a 51 per cent stake in the Bahamas Telecom-
munications Company (BTC) on the grounds it would not
lessen competition in any of the services the state-owned
incumbent currently offers.

The industry regulator rejected concerns that CWC would use
the extended three-year cellular monopoly to “impede the
growth of competition” in other markets.

e SEE BUSINESS SECTION FOR FULL STORY

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



PARENTS OF BABY
WHO DIED IN
PMH “UNABLE TO
GET COMPLETE
MEDICAL RECORDS’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE parents of a prema-
ture baby who died in the
Princess Margaret Hospital
claim they have been unable
to obtain their son's complete
medical records — documents
they need in order to get a
second opinion on their
child's illnesses and cause of
death.

For more than a year, Pan-
telis and Claudia Tsakkos

SEE page eight



Photo/Ronnie Archer

THE FIRST STEP: College of the Bahamas students line up to fill out job applications at a career and job fair yesterday. Norma
Turnquest, co-ordinator of the fair, described it as a networking event for both students and businesses.

POLICE CALLED AFTER ROAD WORKERS
TOLD PAY NOT IN THEIR BANK ACCOUNTS

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

POLICE were called to
calm a group of road workers
from the Jose Cartellone
Construction Company who
were outraged that they
could not collect their wages
from the bank yesterday.

The group of more than 20
workers caused a scene at the
Shirley Street location of
Bank of The Bahamas after
they were told their pay was
not in their bank accounts.
The men then left the bank

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and remained outside until
officers quelled the rowdy
crowd, police said.
However, a representative
from the company — which
was hired by the government
to carry out the New Provi-
dence road improvement
programme — said the whole
ordeal was a "misunder-
standing" because the men
went to the bank a day early.
After officers explained
that their wages would be
available at the bank today,
the men left the scene peace-

SEE page nine

Wilton Street

ee ere

NASSAU AND BAHAMA ISLANDS’ LEADING NEWSPAPER

|)

e SEE PAGE FIVE

ROAD CLOSURES ‘UNAVOIDABLE’ AS
IMPROVEMENT WORK CONTINUES

By CELESTE NIXON
Tribune Staff Reporter
cnixon@tribunemedia.net

A TOP official at the Min-
istry of Works says road clo-
sures will be unavoidable as
the government works to com-
plete several road improve-
ment jobs for the benefit of the
entire island.

During a press conference
held yesterday to address con-
cerns expressed by business
owners in the Prince Charles
Drive and Fox Hill Road area,
Permanent Secretary Colin
Higgs explained that as a result
of the physical constraints of

the eastern corridor, some
road closures and diversions
are necessary and unavoidable.

The roadworks on Fox Hill
Road and Prince Charles Dri-
ve are part of the $120 million
New Providence road
improvement and infrastruc-
ture project.

However, business owners
in the area became angry over
the loss of trade on Tuesday
after contractors closed a por-
tion of the road.

But Mr Higgs insisted the
works are necessary, not only
to improve road networks and

SEE page nine

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PAGE 2, FRIDAY, MARCH 11, 2011

THE TRIBUNE





Minister ‘amazed’ by
Christie’s comments on
laid-off workers initiative

MINISTER of Labour Dion
Foulkes said he was “amazed”
by comments made by Perry
Christie, leader of the opposi-
tion, about the government’s
initiative to support laid-off
workers in Grand Bahama.

He said: “I would have
thought that the opposition
would have supported this ini-
tiative and commended the
various agencies and depart-
ments participating including
the private sector who came
forward.

“Whenever you are termi-
nated or dismissed, it is a very
traumatic experience in a per-
son’s life. It is at that time that
they need support and a help-
ing hand.

Employees

“To come out and to criti-
cise what we did, I thought it
was an insult to Grand
Bahamas and especially to the
former employees of Our
Lucaya,” said Mr Foulkes.

He said the government
found out about the layoffs just
over a week ago. He said the
matter was discussed in a Cab-
inet meeting that same morn-
ing, and the government came
up with a plan.

“All of us agreed that we

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would not say anything pub-
licly about it until the manage-
ment had an opportunity to
meet with the staff. That meet-
ing was scheduled for Friday.
We did not want staff mem-
bers or family members of staff
members finding out about this
exercise through the House of
Assembly or through a press
release from the government.
We thought that request was
a reasonable request,” said Mr
Foulkes.

He said the government
informed all of members of
parliament from Grand
Bahama, and instructed them
not to say anything about it
until the staff was first
informed. He said the govern-
ment’s programme was
approved last Thursday and
assistance was rendered on
Monday.

“T don't know what Mr
Christie is talking about. But
going on his past record I don't
think he is in a position to crit-
icise us in terms of our
response. When hundreds of
persons were laid-off at Royal
Oasis here in Grand Bahama,
the PLP did absolutely noth-
ing to assist. Nothing.

“When we came to power in
2007 we had to complete the
payment of severance pay to

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LOCAL NEWS

those workers. Millions of dol-
lars we had to allocate in our
budget — millions of dollars,”
said Mr Foulkes.

“The Sea Hauler victims,
when we came to power, we
had to settle up with them. It
was a ex-gracio payment. We
were not forced to, but we
thought that was the right
thing to do. We thought that
was the Christian thing to do
and we gave those families $1
million.

Criticism

“The CLICO employees,
we have settled up with them,
all of their legal entitlements.
So I think that the criticism
from the opposition, and in
particular the leader of the
opposition, is unfair and I
think it is insensitive, espe-
cially when people are hurt-
ing,” he said.

Mr Foulkes noted that a del-
egation of PLP members went
to Grand Bahama on Monday.
He claimed they met only with
the management of Our
Lucaya.

“They did not take the time
out to come down to the centre
and meet with the workers
who were fired. They didn't
take a minute to stop there and

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meet the people. And they
flew right back to Nassau.
Zhivargo Laing, along with
four other FNM parliamentar-
jans, spent hours there,” said
Mr Foulkes.



MINISTER OF LABOUR
Dion Foulkes



PLP LEADER
Perry Christie



A WHOPPING 15-pound crawfish (spiny lob-
ster) was caught by fishermen and brought to
The Tribune this week. Lllewelyn Fox proudly
displays the lobster, which he said his son pur-
chased on Potter’s Cay dock.

PHOTO/RONNIE ARCHER

Vendors say lack of Cabbage Beach
bathrooms ‘creating health concerns’

By NOELLE NICOLLS
Tribune Staff Reporter
nnicolls@tribunemedia.net

VENDORS on Cabbage Beach say a lack of
bathroom facilities on the beach is giving the
country “bad publicity” and creating health con-
cerns.

They claim most of the hundreds of tourists
who use the Paradise Island beach on a daily
basis are cruise ship passengers, who are forced to
use the bush as a bathroom.

Atlantis and RIU facilities are for guests only,
they say, and bathrooms at the Sunrise Beach
Club are limited to people who patronise the
beach bar.

“Tt is am embarrassment. People always ask us
where they can find the bathroom. You have no
response,” said one vendor.

However, a spokesperson for Atlantis denied
that only guests of the resort have access to its
bathrooms.

He said: “Vendors and non-hotel guests on
the eastern end of our property have access to the
Cave Bar and Grill bathrooms and vendors and
non-hotel guests on the western end of our prop-
erty have access to the bathroom facilities at the
Lagoon Bar and Grill.

“Vendors are aware of this as they use our
restroom facilities on a daily basis, as do cruise
ship and non-hotel guests.”

Vendors say they wanted the bushy piece of
vacant land near the RIU to be turned into a
green space with public bathrooms.

They claim a plan to use porta-potties was
blocked because of the difficulty in creating
access for persons to service the units.

The Ministry of Tourism and Aviation
(MOTA) licenses a number of vendors — hair
braiders, coconut vendors, those who rent out
lounge chairs, massage therapists — to operate
on the beach.

One operator said the peak day is Saturday,
when 300-plus visitors use the beach.

Vincent Vanderpool-Wallace, Minister of
Tourism, said he is “certainly aware of the con-
cern”.

He said there is no doubt the issue needs to be
addressed “as a priority”, but added it would
involve much more than “just putting toilets on
the beach”.

“It is a subject of much discussion. We wish

there was a simple resolution,” said Mr Vander-
pool-Wallace, citing property rights as one of
the main obstacles.

When asked for comment on the issue, Min-
istry of Environment officials pointed out that the
beach is not public, so the government is not
responsible for managing the beach or providing
public bathroom facilities.

According to an informed Tribune source,
legally speaking, members of the public have a
limited right to “traverse the coast up to the high
water mark”, but this does not mean all beaches
are public — despite the widespread popular belief
to the contrary.

Beaches are public only when they sit on
Crown Land. Private land owners are not oblig-
ated to provide beach access for the public.

The source said the public cannot have access
to all beaches without a change in the law.

With respect to Cabbage Beach, he said, ven-
dors, visitors and members of the public “don’t
have a right to it”, even though there is an
arrangement between Atlantis, the MOTA, ven-
dors, and the public.

A vendor said: “We have been given permis-
sion by the Ministry of Tourism. (The hotels)
can't kick us off the beach, but they can give us a
very difficult time. The tide can be very volatile,
so sometimes people have to encroach on hotel
property by putting their lounge chairs there.
Even though the area is not being utilised, in
the past they have had their security take away
everything we had on the beach. They can make
it difficult for you, because they can always con-
fiscate your stuff.

“Tt is a serious balance we have to weigh. In the
meantime, the guests are being affected aversely
in that regard,” he said.

Mr Vanderpool-Wallace said FNM govern-
ments have negotiated unprecedented beach
access for the public, with a comprehensive sys-
tem of signs designating public access areas. He
said the government received a fight in some
instances from private land owners, so it had the
difficult task of balancing interests.

He said the government is also mindful of
capacity concerns.

“We have a situation right now on public hol-
idays where there are certain beaches that reach
capacity level. We have to as a government,
decide what is going to be the maximum use of
any private or public space,” he said.

NS Re ay eT e

POLICE are asking the public to help them locate 37-year-
old Randon Burrows who is wanted for questioning in rape and

burglary investigations.

Burrows, who also goes by the alias “Randon Beaver”, is
known to have last resided at #74 Podoleo Street in New Prov-

idence.

He is described as having a dark brown complexion; 5’8” tall
and weighing about 160 lbs with a medium build.
The Central Detective Unit warns that Burrows is considered

armed and dangerous.

Anyone with any information concerning Burrows’ where-
abouts should immediately contact police by calling 919 or
911; the Central Detective Unit by calling 502-9930/9991; the
Police Control Room on 322-3333; Crime Stoppers on 328-

8477; or contact the nearest police station.



RANDON BURROWS
E TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE



ol e7-N i AES)



olice Staffers Association
asks Mitchell for apology

|OELLE NICOLLS
ine Staff Reporter
lls@tribunemedia.net

[E Police Staffers Associ-
has asked for an apology
Fred Mitchell, opposition
ssman on the public ser-
for what they believe were
raging comments he made
t the Security and Intelli-
> Branch.
vight Smith, PSA presi-
said equating the inves-
ve process of SIB officers
ig vetting of public ser-
to “gossip and trivia” is a
gainst the integrity of the

‘e wish not for any gov-
ent or political opposition
e the police as a tool for
cal agendas. Superinten-
Robert Young, who heads
is doing a wonderful job.
n you make a bold state-
speaking to their integri-
yu destroy the morale of
sntire team,” said Mr
1.

tlier this week, Mr
hell cautioned against
-SIB reports as the pri-
basis for decision mak-
Te said the common prac-
vas for SIB reports to be
ated in the minds of the
iucracy to too high a lev-

The PSA said it is not trying
to “beat up on anyone, whether
government or the opposition”,
but it has a responsibility to
address “concerning” issues
that are “direct and personal
with the police”, and speak to
work conditions and morale.

He said public servants are
often the innocent bystanders
in political squabbles.

Mr Smith claimed rank and
file officers from the SIB came
to the association to express
their discontent with Mr
Mitchell’s comments.

He stressed that he was
speaking on behalf of the PSA
and not the Police Force or
SIB.

Mr Smith said he and Mr
‘Young did not discuss the mat-
ter.

“We have a grave difficulty
with what is being said. Now
we have to go and motivate
officers at SIB who are doing a
wonderful job. There must be
an apology given to the hard
working men and women at
the RBPF,” said Mr Smith.

He said the police run an
information-based operation
that relies on co-operation
from the public, and any action
that unfairly creates concern
about the competency of the
police only serves to under-
mine the force.

When contacted for com-
ment, SIB head Officer Young
said he doesn’t think any actu-
al damage has been done by
Mr Mitchell’s comments.

He added: “No vetting
process is based on hearsay or
gossip. You cannot malign peo-
ple’s character or impede their
job progress on the basis of
gossip. We would not operate
on that fashion.

“All of the reports are confi-
dential. Whatever information
we get we verify that informa-
tion.”

He said any further com-
ment would have to be sought
from the Commissioner of
Police.

Responding to the Staff
Association yesterday after-
noon, Mr Mitchell said: “Any
and all of the comments made
by me at any time are directed
at politicians and policies and
not at public servants. The
comments are about public pol-
icy. That should be crystal clear
from the content and context of
the remarks.

“The police as a disciplined
force are to be neutral in their
responses and reactions to these
matters. That is in the very
nature of a disciplined force.

“T expect that the Security
and Intelligence Branch of the
Royal Bahamas Police Force



DESTROYING MORALE: Police Staffers Association president Dwight
Smith held a press conference to ask for an apology from PLP MP Fred

Mitchell.

will continue to conduct them-
selves in the same politically
neutral and above board fash-
ion as their training dictates,”
he said.

“Police officers do not dabble
in political matters. As a politi-
cian, I have tried scrupulously
to avoid a tit-for-tat with public
servants, who must serve PPS,
FNMs and in betweens. That
is the nature of their jobs, to
serve all without fear or favour.
I do not intend to start now.”



chell calls on UK govt to ‘restore parliamentary democracy’ in Turks & Caicos

AUL G TURNQUEST
ine Staff Reporter
quest@tribunemedia.net

TH civil unrest brewing
1e Turks and Caicos
ids, PLP MP Fred
hell called on the British
rnment to restore parlia-
ary democracy and bring
id its two year stint in
t control of that nation.
r the past few days, pro-
rs in the Turks and
os have taken to the
ts demanding an end to
dministration headed by
sritish governor, which
been in place since
Ist 2009.

e islands are a British
seas Territory, and the
povernment disbanded
ocally elected adminis-
yn and suspended its leg-
ire after a Commission
quiry found widespread
iption under the admin-
ion of the islands’ for-
Premier Michael Misick.
ting that the PLP has for
time been issuing state-
ts on this matter, Mr
1ell reiterated his party’s
ion that the British were
g in taking away democ-
in the Turks and Caicos.
is not an issue which we
sht would go away given
lisquiet on both sides
t what the British has
. And the longer it goes
e more there is going to
ternal pressure, particu-
given the suspension of
of the rules of justice as
ates to the offences they
nvestigating and more
rtantly the fact that the
sh cannot say when they
estore democracy.

hose who have talked to
ym the Turks and Caicos
ds, we have said to them
it is important for them
t together and to pub-
demonstrate their con-
about the fact that direct
till exists and there is no
table for a return to
ocracy. And so we are
urprised. All that we say
it should be peaceful,
should continue to work
ry to get democracy
red, and we urge the
sh to restore democra-
1e said.

Mitchell added that it
paramount importance
the people of the Turks
Caicos remain united in
truggle, as a “one-sided”
st will not get the job

he people of the Turks
Caicos Islands have to
onstrate together that
are concerned about this
. There is the CARI-
[ meeting which just took
, or is coming up, and I
n’t seen the results of the
ing; the inter-sessional
took place. I think our
ty prime minister went,
was hoping that at that

time the parties from the
Turks and Caicos Islands
would have both gone to the
meeting and made some
attempt to have CARICOM
issue even stronger state-
ments with regard to this.
“And we have undertaken
with the parties in the Turks



Oe A elas

and Caicos Islands to do
whatever we can to assist in
trying to get them in contact
with other governments in the
Caribbean, and also the gov-
ernment here in the Bahamas
to try and put some addition-
al pressure on the British to
resolve this issue,” he said.

Preachers:

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Man arraignet
court on char
of death threat

LAWRENCE Harris
alias Lawrence Ambrist
alias Vernal Ambrister,
of Sandilands Village R«
was arraigned in Court |
yesterday, charged with
making death threats.

It is alleged that he m:
the threats to Shashuna
Russell on Tuesday, Ma
1

It is further alleged th
he assaulted Shashuna F
sell with a handgun.

Harrison, who was
arraigned before Magist
Subu Swain, pleaded no
guilty to both charges.

He was granted $1,00(
bail on the threats of de
and $3,000 bail on the
assault charge.

The case has been
adjourned to August 22,
2011.

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PAGE 4, FRIDAY, MARCH 11, 2011

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

Publisher/Editor 1919-1972
Contributing Editor 1972-1991

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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Women abused if refuse to cover head

GROZNY, Russia — The cars pull up in
broad daylight. Security forces point guns
at terrified women and shoot. It turns out
they're paintball pellets, but still harsh pun-
ishment in Chechnya for leaving home with-
out a headscarf.

Chechnya's strongman Ramzan Kady-
rov has imposed an Islamic dress code on
women, and his feared security forces have
used paintball guns, threats and insults
against those refusing to obey. In a 40-page
report released Thursday, Human Rights
Watch condemned the campaign as a fla-
grant violation of women's rights and urged
other nations to raise the issue with Moscow.

"The enforcement of a compulsory Islam-
ic dress code on women in Chechnya violates
their rights to private life, personal autono-
my, freedom of expression, and freedom of
religion, thought, and conscience," the report
said. "It is also a form of gender-based dis-
crimination prohibited under international
treaties to which Russia is a party."

Kadyrov rules with the support of Prime
Minister Vladimir Putin, who has counted on
him to stabilize the mostly Muslim region in
southern Russia after two separatist wars in
the last 16 years. Russian authorities have
turned a blind eye to the treatment of
women and other rights abuses in Chech-
nya.

p Human Rights Watch interviewed dozens
of women who have experienced or wit-
nessed attacks or harassment for their refusal
to adhere to the Islamic dress code.

One of the victims, identified as Louiza,
told the rights group that she and a friend
were attacked while walking down Putin
Avenue in Grozny on a hot day last June,
wearing skirts a little below the knee, blous-
es with sleeves a bit above the elbow and no
headscarves. Suddenly a car without a
licence plate pulled up, its side window rolled
down and a gun barrel pointed at them.

"T thought the gun was real and when I
heard the shots I thought: 'This is death,'"
she recalled in the report. "I felt something
hitting me in the chest and was sort of
thrown against the wall of a building.

"The sting was awful, as if my breasts
were being pierced with a red-hot needle, but
I wasn't fainting or anything and suddenly
noticed some strange green splattering on
the wall and this huge green stain was also
expanding on my blouse."

The 25-year-old woman said her friend
was hit on her legs and stumbled to the
ground. Men dressed in the black uniform of
Kadyrov's security forces looked out of the
car's windows, laughing and sneering.

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"It's only at home that I could examine
the bruise and it was so huge and ugly,"
Louiza recalled. "Since then, I don't dare
leave home without a headscarf."

Another target, a 29-year-old woman
whose name was not given, said she was
walking down the same central avenue in
June with two other women, all without
headscarves, when two cars stopped nearby
and bearded men in black uniforms fired
paintball guns at them, screaming: "Cover
your hair, harlots!"

The woman told Human Rights Watch
that she knows 12 women who were shot at
with paintball guns in June. Overall, at least
50 or 60 women were targeted, the rights
group said. Threatening leaflets also
appeared on the streets of Grozny, warning
women that those who fail to wear head-
scarves could face "more persuasive mea-
sures." The women interviewed by Human
Rights Watch interpreted that as a threat
to use real weapons.

Kadyrov's security force has been blamed
by rights activists for abductions, torture
and extrajudicial killings in Chechnya.

In July 2009, the director of the Chechen
office of Russia's Memorial rights group,
was abducted near her home in Grozny and
found shot to death along a roadside a few
hours later. Natalya Estemirova had pub-
licly criticized the Islamic dress campaign
as a violation of Russian law, angering Kady-
rov who had threatened her with repercus-
sions.

A few weeks after the paintball shootings,
Kadyrov told local television that he was
ready to give awards to the men who carried
out the attacks and that the targeted women
deserved the treatment. There was no
response from the federal authorities.

The paintball attacks ended in mid-June,
having achieving Kadyrov's objective. The
majority of women are now too scared to
enter the centre of Grozny without head-
scarves or dare to complain against the
"virtue campaign."

At Chechen State University in Grozny
this week, all females students wore head-
scarves and, toeing the official line, defend-
ed the practice as part of local tradition and
a sign of respect for Islam.

"The headscarf is part of our religion,
part of our faith,” said Seda Sabarova, 18.

Kadyrov also scoffed at criticism of his
effort to enforce an Islamic dress code,
telling foreign reporters that headscarves
make women beautiful.

(This article was written by Vladimirl
Isachenkov of the Associated Press).



Migrating
from a culture
of blame to
responsibility

LETTERS

EDITOR, The Tribune.

I wonder what it is going to
take for we the people of this
nation to migrate from the
valley of blame to the high
hills of responsibility for our-
selves and for improving the
culture of this country.

Culture is more than annu-
al festivals, traditions, music,
crafts or native dishes. Cul-
ture also embodies we the
people of this nation; our
thoughts, attitudes, beliefs,
confidence, the point of our
social compass, the quality of
our language and the way we
behave. It appears that we
have become so wrapped up
in our supposed rights that we
are either unaware or simply
choose to ignore that our
rights also come with an
inherent social responsibility.
This critical aspect of our evo-
lution remains undeveloped,
rather than taking responsi-
bility for ourselves, we are
more easily led to fight for
rights based on the fallacy
that someone else is the
blame for our laid-back per-
ceptions.

The daily servings of pro-
grammes that happily remind
us of our issues, problems or
the basic lack of social order
only highlights our point of
focus. That we are a pes-
simistic people, who are much
more comfortable, looking for
what, is wrong, rather than

letters@tribunemedia .net



looking to resolve. This bleak
perception shows our lack of
preparation for change, lack
of critical thinking, gratitude
deficiency and a severe short-
age of ideas.

We cannot find solutions if
we are only focused on the
problems. The acceptance of
personal responsibility is what
separates the adult from the
child.

We owe it to our children
to put away childish things. If
we are sincerely interested in
supposedly saving the future
for our children, we should
begin with the thousands of
children who are here right
now.

Why aren’t we teaching
them the audacity of change
or the power of personal
responsibility? This thought-
pattern would build their con-
fidence to choose their own
future, long after we are gone.

The need for us to migrate
towards a culture of responsi-
bility is an appeal from the
spirit of this Bahama Land.
Whose moral fiber cringes
every time we utter a com-
plaint or point to a problem
without voicing a solution. Its
message is clear. It reminds

us that it has already given us
this land; it has provided
unlimited resources and
bestowed inborn talents upon
us.

The question we must ask
ourselves is what have we giv-
en in return to this land?
What ideas have we pro-
duced, created or brought
forth to inspire our children
or to change the world? This
land is pleading that we do
not sell our children on the
small ideals of problems and
challenges. Instead, it
beseeches us to inspire them
to accept that they embody
great ideas and the courage
to take responsibility for
working the land and build-
ing this nation.

We all know that the only
way to get up the hill is to
climb. For us to evolve as a
people and advance this
nation we must elevate our
thinking, climb out of the val-
ley of blame and cultivate a
new culture of responsibility.
Our Bahama land is dehy-
drated and in urgent need of a
positive, healthier perception.

And the spirit of this land
insists that we all quench its
thirst by heeding this call to
migrate forward, upward,
onward together.

People, it’s time to move!

MICHELLE M MILLER
Nassau,
March 7, 2011.

Looking at the tax regime

EDITOR, The Tribune.

Today’s article by Rick
Lowe (limit taxation and
spending) contains many
current observations about
the current tax regime and
the proposed alternative val-
ue added tax (VAT).

However, Lowe and the
Nassau Institute like the
“commentators” he criticis-
es fail to recognise the dif-
ferent impact taxes have on
the three factors of produc-
tion — namely land (free gifts
of nature), labour (human
exertion in the production
of wealth) and capital

DON STAINTON

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haturday lz, March 2011
at 11:50am
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(wealth used to make more
wealth). Left wing propos-
als call for society to take
most of the wealth created,
making no distinction
between the income from
land, labour or capital and
leaving only a small portion
of wealth to individuals. In
most cases this also entails a
large measure of control by
society over individuals, a
“planned economy” and
lack of individual freedom.

Right wing proposals
(reflect tax) hold that more
wealth should remain in pri-
vate hands but also makes
no distinction between land,
labour and capital. Govern-
ment should get the mini-
mum it needs for necessary
services and leave the run-
ning of the economy to pri-
vate interests.

A mixed economy seeks
to distribute wealth and
power between individuals
and society but does not
make a distinction between
earned and unearned
incomes nor does it define
the proper roles of society
and the individual. The
result is usually a hodge-
podge.

The American economist
Henry George does make a

distinction between the
unearned income from land
(nature) and the earned
incomes of labour and capi-
tal. No one created nature
(beaches, reefs, fresh water
etc) but the presence and
activity of society creates
location value. A just society
would capture the location
value for society and let the
wealth created by labour
and capital remain in the
hands of these that earned it.

The Geologist proposal
achieves the goal of left
wingers for security and
social action but without
restrictions on liberty. It
achieves the goal of right
wingers to attain freedom
but without privilege and
monopoly.

This “tax shift” would
remove the unearned
income from natural
resource speculation, slow
urban sprawl, reduce pollu-
tion and pay for infrastruc-
ture that helped create land
values in the first place. All
this would happen without
stifling incentive and pro-
ductivity.

JOHN FISHER
Nassau,
February 21, 2011.

Thank you to
helpful BEC staff

EDITOR, The Tribune.

LAST night, the 4th of March, at 1.30am my power went
off. I thought it might just be the usual power failure but no,

it was just our house.

I called the BEC power failure number and got a very
polite and professional lady to answer. She took my info and
said she’d have a truck there ASAP.

True to her words a truck was there within 10 minutes. I
went out onto the road to make sure the guys knew it was
my house that was without power. They also were very

polite and professional.

My power was restored soon after the truck arrived. A few
minutes after the power was restored, the phone rang and to
my surprise it was the lady from BEC calling me back to
make sure my power was back on.

Most of the time people have bad things to say about
BEC, so I want to say Thank You to the BEC staff that
helped me, for their quick and professional response.

I wish I had asked for her name so I could thank her.

AMANDA MEYERS
Nassau,
March 4, 2011.
THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 5



LOCAL NEWS

COB students learn about
employment opportunities

By LAMECH JOHNSON

COLLEGE of the Bahamas
students participated in a career
and job fair yesterday, where
they were they learned about
what opportunities await them
in the public and private sector.

Norma Turnquest, co-ordi-
nator of the fair, described it as
a networking event for both stu-
dents and businesses.

“The purpose of the event is
to bring the students and busi-
nesses together,” she said.

Ms Turnquest believes the
students will benefit from learn-
ing about the different careers
available to them based on their
field of study. She was pleased
with the turn-out from students
and businesses.

“We have 33 companies rep-
resented so we are quite pleased
with the numbers. And the stu-
dents seem to be enjoying it
too.”

COUNSELLING & HEALTH SERVICE
DEPARTMENT

"The Helping Link"



She was unsure how many
companies have already decided
to hire some of the students they
met with, though she added,
“some companies have already
posted job recruitments on their
websites.”

Some students spoke with
The Tribune about what they
learned and experienced at the
fair.

Kaynell Dames, an account-

| a4
ing major at COB, was
impressed by the amount of
information available.

“It was great. There were a
lot of options for me in the
accounting field and I learned
about scholarship opportunities
provided by KPMG.”

R Ellis Farrington III, a fresh-
man at COB, said the event was
“dominated” by business and
finance companies.



“T’m a freshman so it’s really
an enhancing experience to have
an event that open doors for us.
They don’t have stalls that pre-
sent the law though.”

CIS majors like Ashaki
Adderley found the fair to be
very informative and said it
made them aware of the “dif-
ferent organisations out there.”

Representatives of the busi-
nesses told The Tribune they

COB STUDENTS pose with a fire engine at yesterday’s career and job fair.

came to see the future crop of
workers that would soon be
leaving school.

Selvin Basden, senior manag-
er of human resources at the
Bank of the Bahamas, said the
bank “is growing and we’re
seeking new talent.”

He mentioned that the bank
is currently hiring students on a
part-time basis and that students
from the Family Islands in par-

WORDS Gace OU TL G ee b Ds



By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

A MAN who admitted to chopping
his friend to death with a cutlass during
an argument two years ago was sentenced
to 13 years in prison yesterday.

On Wednesday, Maitland Thompson,
28, pleaded guilty to manslaughter by
provocation in the death of Customs Offi-
cer Collier Knowles, 33.

Thompson was initially charged with
murdering his friend, but accepted a plea
deal. Knowles died in hospital on June 2,
2009 after being chopped about the body
nine times, according to prosecutors.

Thompson told the court yesterday: “T
am truly and deeply sorry. I really didn’t
mean to kill this man. I really tried to
walk away. I just want the court to be
lenient.”

Senior Justice Jon Isaacs noted that

The Government of The Bahamas has received financing under the Presicent’s
IDS Relief (PEPFAR) to manage HIV/AIDS Strategic

Emergency Flan for

Thompson in seeking to defend himself
from Knowles went beyond what was
necessary and thus self-defence could not
be his legal defence.

The judge, however, also noted that
Thompson had been provoked in his
actions and that his case was not one in
which the maximum penalty ought to be
imposed.

“Given the injuries sustained by the
deceased, it is clear you would have gone
too far,” Senior Justice Isaacs said.

In his sentencing, he also took into
consideration the two years Thompson
has already spent in prison.

Thompson’s sentence is to commence
from January 1, 2011.

According to prosecutors, on June 1,
2009, Thompson, Knowles and several
friends were at a bar in Pinewood Gar-
dens.

An argument reportedly broke out and
Knowles left the bar. The argument con-

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tinued at Cottonwood Street, Pinewood
Gardens, where friends intervened and
separated the two men.

According to prosecutors, Knowles
was subsequently seen walking with a
cutlass. The argument between the two
men continued on Willow Tree Avenue
and Saffron Street.

There, Thompson reportedly wrestled
the cutlass away from Knowles and
chopped him nine times about the body.
Knowles was reportedly chopped to the
head, left eye, right shoulder, left calf,
left hand, right thigh and right arm.

His cause of death was listed as hem-
orrhagic shock as a result of blood loss
from “chop wounds”.

Thompson was later arrested at a local
motel on Carmichael Road.

Thompson’s attorney Romona Sey-
mour submitted yesterday that her client
was angry and drunk at the time of the
incident.

She told the court that Thompson was
not aware of how many times he had
chopped Knowles.

According to Mrs Seymour, Thompson
had thought he had chopped Knowles
three times. She also asked the judge to
take into consideration the fact that
Thompson had pleaded guilty to the
manslaughter charge and had been forth-
right with police from the start of their
investigation.

She further submitted that her client
had told police that he did not intend to
kill Knowles and that his death was an
accident. She asked the court to take into
consideration the fact that Thompson’s
actions were not premeditated and that
he had been defending his life, but went
too far.

Ms Seymour told the court that
Thompson, a father of two, had expressed
remorse and asked that the court be as
lenient as possible.





Photo/Ronnie Archer

ticular will greatly benefit from
this opportunity.

“We have branches in Inagua,
Exuma and South Andros. Stu-
dents from South Andros for
example that want to go back
home to work can do so because
we have branches there in Man-
grove Cay and Kemp’s Bay.”

Other private institutions
such as ScotiaBank, First
Caribbean Bank, RBC, Doctors’
Hospital, Deloitte and Touche
and Burns House Ltd were also
in attendance.

Among the government agen-
cies represented were the Cen-
tral Bank of the Bahamas, BTC,
the Water and Sewerage Cor-
poration, the National Insurance
Board, Bahamasair, the Defence
Force, the Police Force.

Officers from the Fire Branch
were also there and brought
their fire engine with them.
They used a long grass track to
give the students a taste of what
a “fire run” is like.

The fair was held at Indepen-
dence Park on the college’s
Thompson Boulevard campus.

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The successful candidate will be responsible forthe provision of laboratory quality
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establish and implement QA standards and operating procedures, including
specimen and inventory management.

Work closely with the PEPFAR Laboratory Implementing Partner (AFENET) to carry
out Lboratory gap analysis. resolve noo-confonmances, assist in the
implementation of the ISO 15189 Qualirey Management System (CRS) and
accreditation of the [ntegrated Public Health Laboratary

Education and Expeoricnce

al Alasters or Doctoral degre e in lahornwtory scences, hicmedical research, or
related tield;

b) Experience in clinical laboratary practice

c) Knowledge of intemational laboratory stanckinds; focus on HIV, TB and STI
diagnosis and clinical monitoring.

INFORMATION MANAGEMENT BUSINESS ANALYST

Gencral Purpose

The Business Analyst is responsible for supporting information management
initiatives wcross the Ministry of Health (MOH), with a bocus on deweloping custom
reports to enable HIV AIDS management.

The Business Analyst will document clinical information system requirements for
the National AIDS Program, support the implementation of svstems across clinics,
anil develop anil implenverit business andl clinical reports fe enable decision

THAT

Education and Experience

al Bachelors degree in Public Health Administration, Information Management, or
related field;

bh) Three to five 04 ta yeurs of experience ina related position, prefenibly in the
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cl Sadtware application expertise in clintcal intormation systems, spreadsheets, and
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be received by 4pm on Thursday, March 17, 2011.

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121 EAST ST. PH 322-5276


PAGE 6, FRIDAY, MARCH 11, 2011

THE TRIBUNE



Health officials explore ‘inextricable’
link between kidney and heart disease

By MATT MAURA
Bahamas Information
Services

PUBLIC Health officials
worldwide have been able to
confirm an “inextricable link”
between kidney disease and
cardiovascular disease, Min-
ister of Health Dr Hubert
Minnis said Wednesday.

The Health Minister said
local public health officials
will join their international
colleagues in further study-
ing the relationship between
chronic kidney disease as a
major risk-factor for cardio-
vascular disease.

The announcement came
as the world celebrated
World Kidney Day yesterday.

A joint initiative of the
International Society of
Nephrology and the Inter-
national Federation of Kid-
ney Foundations, World Kid-
ney Day is used to further
raise awareness of the impor-
tance of one’s kidneys to their

overall health.

The day also aims to
reduce the “frequency and
impact of kidney disease and
its associated health prob-
lems” worldwide; to encour-
age preventative behaviours
among world citizens and to
educate all medical profes-
sionals about the key roles
they play in detecting and
reducing the risks of chronic
kidney disease, particularly
in high risk populations.

Risk

Public health officials said
there are seven “golden
rules” persons can use to
reduce their risk of develop-
ing kidney disease.

Critical among those rules
are to keep fit and active;
keep regular control of blood
sugar levels; monitor blood
pressure levels; eat healthy
and check kidney function if

you have one or more of the
“high risk” factors. Drinking

Government spends
$15 million annually
on dialysis treatment

By MATT MAURA

Bahamas Information Services

THE government of the Bahamas spends almost 15
million dollars annually to provide free dialysis treat-
ment to 330 persons with kidney disease, health offi-

clals revealed.

This figure does not include costs associated with
medications and/or hospital stays as a result of associat-

ed complications.

Dialysis treatment is predominantly used to manage
kidney disease in the Bahamas and costs $45,000 per
patient per year. Recent data confirms that there are
more than 330 persons in the Bahamas receiving free
dialysis treatment as a result of kidney disease. The
total cost to treat those persons is $14,850,000.

Public Health officials said the 330 figure does not
include persons who “are unknown to nephrology ser-
vices for whatever reason”. They said the number of
persons with kidney problems is likely to increase as

more and more Bahamians become more at-risk for the
disease due to the high prevalence of chronic, non-com-
municable diseases such as diabetes and hypertension —
two leading causes for kidney disease — in the Bahamas.

Chronic, non-communicable diseases such as diabetes
and hypertension or high blood pressure can be pre-
vented through proper diet and exercise.

Minister of Health Dr Hubert Minnis said while the
Government has implemented and will continue to
implement new strategies to help battle kidney disease
and reduce the heavy costs associated with the treat-
ment and management of the disease, the onus is on
“every single Bahamian, particularly those at-risk per-
sons” to ensure that they adopt healthy lifestyles to
prevent life threatening illnesses such as kidney dis-
ease.”

Dr Minnis said research has shown that “intensive
control” of diabetes and high blood pressure” can pre-
vent the onset of kidney disease.

“Simple choices like eating a balanced diet, engaging
in regular exercise and having an annual physical exam-
ination are all necessary to help prevent the disease,”
Dr Minnis said.

“Tt is also necessary for individuals who fall within
high-risk groups for renal disease to get tested for the
disease in order to facilitate early detection and prompt
treatment and monitoring,” Dr Minnis added.

The Health Minister said conditions such as diabetes
and hypertension have contributed to a rise in renal
diseases in the Bahamas. The two are prevalent among
Bahamians.

He said public health officials have launched a series
of education and awareness programmes designed to
educate members of the public on the implications of
the incidence of chronic kidney disease in the country
and to ensure that the disease may be prevented, where
possible, or to ensure early detection, timely referral
and safe and effective client care.

“As knowledge and understanding of the causes of
kidney failure increases, so does the ability to predict
and prevent kidney disease increases,” Dr Minnis
added.



water regularly is also impor-
tant to maintaining healthy
kidney function.

Dr Minnis said a statement
from the American Heart
Association confirmed that,
“cardiovascular disease
begins to have an effect on
the body as early as the first
stage of kidney disease and
most people with end-stage
renal failure die as a result of
cardiovascular complica-
tions.”

Chronic, non-communica-
ble diseases such as diabetes
and/or hypertension or high
blood pressure, contribute to
renal diseases. Both are
prevalent in the Bahamas.

Dr Minnis said research
shows that “intensive con-
trol” of diabetes and high
blood pressure can prevent
or delay the onset of kidney
disease.

“Cognisant of these facts,
the Government of the
Bahamas has collaborated
with the private healthcare

sector in implementing the
National Chronic Disease
Prescription Drug Plan,” Dr
Minnis said.

“This Plan allows patients
with a history of chronic con-
ditions such as diabetes and
hypertension to access their
medications to aid compli-
ance and preservation of kid-
ney function.

Prevention

“Tt is vital that other strate-
gies that make the most of
our fiscal, capital and human
resources be implemented
and supported at the national
level to ensure prevention,
early detection and manage-
ment of this debilitating and
life-threatening condition,”
Dr Minnis added.

To help combat the prob-
lem and promote education
and awareness, public health
officials in the Bahamas this
week began celebrating
Renal Awareness and Edu-

ADJUDICATIONS for the E Clement Bethel National
Arts Festival continued in Freeport this week, drawing
students from the island’s schools who showed off their
musical talents. It was the second week of Grand Bahama
adjudications which are now coming to a close.



TT io

aN



“‘INEXTRICABLE LINK: Health Minister Dr Hubert Minnis

cation Week. Several major
activities have been planned
including a workshop on
chronic kidney disease for
public health nurses that has
been endorsed by the Royal
College of Nursing in Lon-
don; England; a public debate
on kidney disease and a
speech competition on the
topic “How we maintain Kid-
ney Health” for high school
students.

Dr Minnis applauded offi-
cials at the Department of

Public Health and the Public
Hospitals Authority for their
efforts in raising public
awareness.

“Patients and family mem-
bers need to have a better
understanding of how to pre-
vent kidney disease and how
to manage existing condi-
tions,” he said.

“In addition, healthcare
professionals require more
training to ensure early detec-
tion and appropriate man-
agement.”





ABOVE: Liam Brown of the Lucaya International School plays
the trumpet during the adjudications in Freeport, Grand
Bahama, for the E Clement Bethel National Arts Festival.

TOP: An ensemble from St Paul's Methodist College plays the
jazz piece "Santa Baby" during the adjudications in Freeport.

LEFT: Walter Parker Primary School student Lincoln Alleyne
beats out a solo in the Best Drummer category during the adju-
dications in Freeport, Grand Bahama for the E Clement Bethel

National Arts Festival.

other % is

Grab your discount
Out of the bag

On new

Arriving

Harbour Ba
Find us on facebook arbour Bay

The Tribune wants to hear
from people who are
making news in their
neighbourhoods. Perhaps
you are raising funds for a
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area or have won an
award.

If so, call us on 322-1986
and share your story.
THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 7



LOCAL NEWS

AFFGA calls on govt to declare ‘no-build zone’ in $ Abaco

Group wants 1,800 acres
of Crown Land to be
o ff limits to developers

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A GROUP of bonefishing
guides seeking to protect a
vital fishing ground in South
Abaco is calling on the gov-
ernment to take action before
developers move in.

The Abaco Fly-Fishing
Guide Association (AFFGA)
has proposed the government
declare around 1,800 acres of
Crown Land coastline and
wetlands stretching from
Cross Harbour to Blackwood
Point a no-build zone as it
supports a 1,000 hectare wet-
land area, local fishing indus-
tries and the lucrative catch-
and-release sport led by local
fly-fishing guides.

AFFGA president Paul
Pinder sent a letter to the
Prime Minister’s Office in
October 2009, won support
from the Ministry of the Envi-
ronment and submitted the
proposal to the Department
of Physical Planning in April
last year.

The association maintains
they were asked to resubmit
their application more than
once, both in print and online,
and yet have heard no
response from the govern-
ment department.

Director of Physical Plan-
ning Michael Major said the
application came to his atten-
tion on Wednesday, follow-
ing calls from The Tribune,
and he will now initiate the
process of creating a zoning
order.

“Most of the time when we
get requests like that they are
legitimate and reasonable,”

Mr Major said.

A review of the proposal
will be completed next week,
he said.

The details will then be
publicised, giving people a
chance to respond, and then a
draft proposal will be drawn
up and sent to the Attorney
General’s office for vetting,
before going to the Cabinet
for final approval in around
two months.

When asked why the pro-
posal had taken more than a
year to cross his desk, Mr
Major said: “I can’t say it’s
taken a year because I don’t
recall it, but especially these
matters that are not (plan-
ning) applications as such are
not considered a top priori-
ty.”

The pressure to deal with
development plans takes pri-
ority in the Department of
Physical Planning Mr Major
said, as multi-million dollar
projects involving landown-
ers, banks, contractors, archi-
tects and developers take up
staff time.

And it is precisely this pres-
sure which AFFGA fears will
lead to encroachment on the
valuable wetlands they are
seeking to protect.

“We hope the government
will agree this pristine area is
far too important to the peo-
ple of Abaco to sacrifice to
future local or foreign devel-
operts as it is presently of eco-
nomic value without being
developed,” Mr Pinder said.

Studies of the area facili-
tated by local nonprofit
organisation Friends of the
Environment have docu-
mented more than 50 species



of fish in the creek and
proven the link between man-
grove and oceanic habitats.

Dr Craig Layman who
spearheaded the Friends pro-
ject said: “It is one of the first
studies anywhere in the world
that have directly demon-
strated the connection
between mangrove and
oceanic habitats through the
movements of fishes.

“Additionally, it directly
demonstrates the rapid and
concrete impacts the creek
restoration projects can have
on marine fisheries.

“As such, it is especially
critical to protect this wetland
area as it may be a primary
nursery area for all of south-
ern Abaco.”

Friends undertook a major
creek restoration programme
in Cross Harbour five years
ago with the help of around

IT’S A TIME QF JOY AND JUBILATION!
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March 13-20, 2011. ‘East Street Tabernacle
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300 local people and school-
children. The organisation
then initiated a fish tagging
programme with local schools
which documented twice as
many species upstream than
before they had completed
the work.

Now Florida-based non-
profit the Bonefish Tarpon
Trust is undertaking a bone-
fishing tagging programme
and is expected to cement
important data about bone-
fish and the wider ecology of
the area in the coming
months.

AFFGA wants to ensure
the rich biodiversity support-
ing such scientific studies, as
well as the fly-fishing industry
and local fisheries is protected
as members fear developers
of resorts and marinas will be
attracted to the area by its
access to deep water.

Mr Pinder’s wife, fly-fish-
ing guide Cindy Pinder, said:
“We are just trying to do this
to protect a very good area
for the fisheries, and for the
people of Abaco.”

“We don’t need another
under utilised marina in Abaco.

“We need to protect this
land for the future of Bahami-

fone a Pp.



NIGE CATCH: AFFGA president and fly-fishing guide Paul Pinder holds a bonefish he caught in Cross Harbour.

ans. It doesn’t need to be in
the hands of foreign develop-
ers.”

Abaco’s fly-fishing indus-
try draws an estimated annu-
al income of around $4 mil-
lion, and contributes to the
$140 million associated with
catch-and-release fishing
tourism across the country.

Vs Ge) Arr eee

IfYou Don’t, Who Will?

1OPM -

mye

MARCH - DECEMBER 201 1

Tel: 436-1472



Seer erat ae te 3

FREEPORT CITY SUBDIVISION -
CENTRAL AREA, FREEPORT
LOT NO. 5 Block “0”

SPECIAL GUBST SPRATERG ts PRESET ERS:

BISHOF CLAYTON MARTIN
Traerad Poesbyter

BISHOP DAVID BRYAN

fdohed Oivtresach Director

BISHOP ROBERT DAVIS

Ptteate Greveeey of Phos

BISHOP JEFFERY DAVIS

State Overseer af North Saoolis
BISHOP TIMOTHY COALTER
State Oheseer of Sot Sasol
BISHOP CLARENCE WILLA Ma
Overseer of The Trodkes 4. Cadcor Is kovds

BISHOF DOW BROCK
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Cannes of Poker
Jnr CN Sa Aisi: Che Nato)
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Tesou, Tater nels Soncert Siva, ad other
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Singing Groups. The Behav, Boss Bead,
Balisouse. Youth sow Junior Bysuas Baus,
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Special wmniek:.

Monday, March 14th, 2011

Bisheqi Tv. Dlvsrmet BH. Eabrrany, (ats,
IG, JF, National Crlvséer and hieleva-
tea Vall deli: His Agi] Natiedal Act

Sunday, March 20th, 2011

The Comventlon clases oo Suede, March
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test celle). Cuving tissenvice, the Aston]
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deliver the fine] message on tre Convention's
then.

dvens om Aicaidagy, March lth die cue

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4 ‘ mn
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PAGE 8, FRIDAY, MARCH 11, 2011

THE TRIBUNE



‘Criminally-minded’
paid in BTC protest

BAHAMAS T0 GET
S5M FROM US FOR
HIV/AIDS FIGHT

THE BAHAMAS will
receive more than $5 mil-
lion in US assistance over
the next five years to sup-
port the country’s fight
against HIV and AIDS.

The financial assistance
is part of US President
Barack Obama’s Emer-
gency Plan for AIDS
Relief (PEPFAR) agree-
ment.

US Ambassador to the
Bahamas Nicole Avant will
discuss the PEPFAR
agreement when she opens
the US Caribbean Region-
al HIV/AIDS Partnership
Framework (PEPFAR)
Summit this coming Tues-
day at the Sheraton Nassau
Beach Hotel.

Minister of Health Dr
Hubert Minnis will also
provide opening remarks.
The three-day summit is
expected to attract 80 par-
ticipants from throughout
the region to discuss and
share strategies on
HIV/AIDS awareness and
prevention.

This year alone, through
PEPFAR, the US govern-
ment has committed more
than $1.6 million in assis-
tance to the Bahamas in
the areas of prevention,
strategic information, labo-
ratory strengthening, and
human capacity develop-
ment.

The Ambassador will
also announce a call for
small grants proposals for
the 2011 Ambassador Fund
for Prevention.

Community based
organisations, non-govern-
ment organisations, faith-
based organisations, gov-
ernment ministries, busi-
nesses, clubs, schools, and
individuals will be invited
to submit proposals for
one-time grant up to
$10,000 for projects that
promote HIV/AIDS
awareness. The deadline is
April 29, 2011.

FROM page one

but were there “advancing political
groups.”

“We saw so many things that were
going on. I, for one, wondered if we
were dealing with a BTC situation or
if we were dealing with a political sit-
uation. For the life of me I could
not understand what was going on.

“TI saw, along with other execu-
tive members, as we gone through
the downtown area, persons walking
around with political photos of indi-
viduals.”

The demonstration was said to
have been organised by the Com-
mittee to Save BTC, but Progres-
sive Liberal Party (PLP) members
made a strong appearance. Many of
their members were dressed in yel-
low political garb. A group of Brave
Davis supporters also carried life-
sized “Be Brave” posters. They were
dressed in custom-made designer
“unity shirts.”

Mr Smith said downtown mer-
chants called “left, right and cen-
tre” to complain about a group of
young protesters who were dropped
off in the George Street area. As
they walked to the protest, mer-
chants claimed they stopped in store
after store “causing a disturbance.”

“T walked there personally and
saw them. I knew some of them and

talked to them. I heard them say, if
they did not get paid there is going
to be problems. I had to encourage
some of them to come out of the
stores. They had no reason to go in
the stores.

“They were just being disruptive,”
said Mr Smith.

“My view is there were only a
handful of persons there who were
really dealing with BTC. If you were
to speak to some of those persons,
they did not know why they were
out there. They did not know what
they were out there for. If we were
to really do the due diligence, we'll
find a lot of them did not under-
stand what was going on,” he said.

When the morale, welfare and
integrity of the force is under threat,
Mr Smith said, the association has a
responsibility to intervene. Such is
the case with debate around the
BTC protest, he said, where com-
ments being made in the public are
“concerning.” Mr Smith said he was
strictly speaking from the perspec-

tive of the PSA.

He said the police force stands for
its integrity, and “we would wish
nobody to interfere with that.”

“If we see the type and caliber of
persons coming out there. We know
them. We have nothing to hide on
that. We are the police. We know of
those persons. Not saying that they
are going to come out there and do
something, but we have to make
sure officers are there in case, and to
actually deal with the issues,” said
Mr Smith.

“It was strange the type persons I
saw. Certainly being a police offi-
cer for over 21 years, we know our
caliber of persons that were mov-
ing up and down. They had nothing
to do with BTC, but they were
advancing these political groups.
The police had a difficulty with
that,” he said.

When pressed to explain what he
meant by criminally-minded per-
sons, Mr Smith said: “From the per-
spective of the association, we know

that these are persons who are
known to the police. These are per-
sons who are unsavoury characters
and they would have been before
the police on numerous occasions.”

He said the PSA supports the
public in their right to protest; how-
ever, they feel groups “must not let
persons whose view is to cause a dis-
ruption interrupt what actually
should be happening.”

“The police are there for safety
and to ensure control. (A demon-
stration of that nature) is a perfect
opportunity for any crime to
explode,” said Mr Smith.

“We live in a real world; there are
persons who don't like this person;
those who might have criminal
motives; that is the best time for that
kind of activity.

“So the police would have made
sure all of its units were there to
look out for those persons, who may
have been of a criminal nature to
make sure, because that was an
ample time.”

PARENTS OF BABY WHO DIED IN PMH ‘UNABLE TO GET COMPLETE MEDICAL RECORDS’

FROM page one

want closure,"

said Mr

body, it's not a pleasant expe-

hydrocephalus, a condition in

arrest and fell into a coma

have petitioned the hospital
for the medical history of
their infant Yannis — since his
death in January, 2010 — but
have only been able to secure
a portion of the records which
detail his last stay in hospital,
they claim.

They said PMH has not
released documents detailing
the period from the baby's
birth in August 2009 until his
release from hospital in Octo-
ber 2009. The couple fear the
records may have been lost.

"We're not accusing any-
body of anything, we just

Made to order omelets

Pancakes

Bacon

Tsakkos, 39. "We just want a
second opinion of what hap-
pened. We requested the rest
of the records, our lawyer had
made at least two official
requests, we believe we are
entitled to a second opinion.

"The response has been
"We're looking for them’ and
according to them they are
still looking. I wouldn't think
it would take so long," he
said.

A year on from the tragic
death of their son, the pair
still have not had closure
because of the delay, they told
The Tribune.

"T don't wish this on any-

Sausage— = ———__—__—

Frenchifoast ~—
FruitPlatter

Macaroni

Pepper Steak =
Broiled)/Mahi-Mahi

inva lemon buttersauce
Trt) Ly) pacers —
Cole Slaw

ee

rience," said Mr Tsakkos,
while his wife, 28, wiped tears
from her eyes.

Yannis, born prematurely
in PMH on August 12, 2009,
was the Greek-Orthodox cou-
ple's only child.

From his birth, the infant
was besieged with health
problems and spent the first
few months of his life in the
neo-natal intensive care unit
of PMH away from his par-
ents.

He was diagnosed with a
number of illnesses, including
meningitis, or inflammation
of the membranes that cover
the brain and spinal cord, and

which excess fluid accumu-
lates in the brain.

Doctors also said Yannis
had congenital heart disease
and a hole in his heart.

The hospital discharged
Yannis in early October 2009,
but he was readmitted to hos-
pital in late December 2009
after his parents noticed a
fever, increased vomiting and
that he was passing blood in
his urine.

This time he was admitted
into the Children's Ward, his
family said, and three days
later he developed pneumo-
nia.

He soon went into cardiac

before his death on January
29.

Thelma Rolle, PMH pub-
lic relations officer, told The
Tribune the hospital would
look into the report and con-
tact the parents in the hope
of straightening out the situa-
tion.

"T have forwarded it to our
Client Feedback Unit which is
going to catch up with the
parents to see what's going
on,” said Ms Rolle.

"We will be in contact with
them within the next few days
and determine what went
wrong, to investigate, and say
why there was a breakdown."

US UAE

Yesterday's Question

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on Abaco planning to protestagainst this

Thursday

Yesterdays Answer

The Bahamas Electricity Corporation

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THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 9



LOCAL NEWS

Minister criticises PLP Deputy

POLICE CALLED AFTER ROAD WORKERS
TOLD PAY NOT IN THEIR BANK ACCOUNTS

FROM page one

fully and no arrests were made.
Still, workers told The Tribune they are normally paid on Thursdays

any changes in salary disbursements.
"Every second Thursday we get paid, for over a year now I been get-
ting paid on Thursday," said a worker who declined to give his name.
"Thad to go pay all kind of bills today. This crush my spirit.”

Another worker claimed: "You can't tell the rent man they ain't pay i

us today when they know you working. This causes problems in the
household, they think you lying.”

Hever Cordova, company administrative manager, said it is company
policy to pay workers on Friday but explained that sometimes the bank
makes the money available earlier causing a "misunderstanding"
between employees and the company.

"T think there was a misunderstanding from our workers. We have
agreed from the beginning to pay them on Friday, so we were surprised
they were expecting pay today (Thursday).

"We understand the employees need their money but the bank
has a system they have to complete. Our instructions were given to
them from Wednesday but the bank has 48 hours, the bank takes
time to process payroll.

"Once it is released some people take advantage and go before
the specified time but it's not like the company doesn't want or can't
pay salaries.”

Mr Cordova added that the company has shown police copies of

internal memos which he said were circulated to workers about pay

day.
FROM page one

relieve traffic congestion, but also
to facilitate large infrastructure
works which are being carried out
underground.

These, he said, are vital to
improving the system of providing
potable water and to allow for
future expansion of other utility
systems such as cable, electricity
and telephone lines.

Mr Higgs said contractors are
trying to inconvenience businesses
and residents as little as possible.

Charlene Collie, project engineer
with the Ministry of Works, said
that in an effort to inform the pub-
lic of the phases in which the works
were to be carried out in the east-
ern corridor, flyers were distrib-
uted and a walkabout was con-
ducted. They also put up signs
explaining this schedule, she said.

Following Tuesday’s row, min-
istry officials met with business
owners. While fully acknowledging
all their concerns, they sought to
make it clear that some road clo-
sures and diversions will be

PERFORMANCE,
eli

ROAD CLOSURES

unavoidable. :
Ms Collie said the ministry’s }
traffic management committee is }
focused on the long-term benefits }
of the project, not the short-term }
liabilities. 7
Since meeting with the business }
owners, the ministry has decided
to re-examine the possibility of ;
closing only one lane at a time in }
the Prince Charles area during busi-
ness hours. ;
However, Ms Collie warned this
would extend the time the works :
will take and affect the cost of the i
project. :
She assured the public that both }
lanes are only closed “when :
absolutely necessary” or for safety }
reasons, and always for the absolute i
minimum amount of time possible. ;
She said once the work is done,
drivers will have a wider Prince }
Charles Drive with new drains, }
improved lighting, sidewalks, better }
signs and ultimately, less traffic.

Style.

Geoffrey Jones offers the fine line of General

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LABOUR Minister Dion
Foulkes has criticised PLP
Deputy Leader Philip “Brave”
Davis for seeking to “politicise”
the tragedy of suicide and mental
health issues.

Minister Foulkes responded in
a press statement yesterday to
remarks made by Mr Davis at a
Progressive Liberal Party rally in
Golden Gates Tuesday night. Mr
Davis at that time suggested that
the Free National Movement
administration’s failure to create
sufficient jobs to deal with the
country’s unemployment prob-
lem led to the untimely deaths of
Bahamians.

“Suicide,” said Mr Foulkes, “is
a complex matter which should
be discussed and responded to
with great care and sensitivity, as
well as compassion and proactive
responses by various institutions
and individuals, including those
in public office.

“T therefore found it disturbing
and a lack of compassion and
sensitivity that Mr Philip ‘Brave’
Davis, the Deputy Leader of the
Progressive Liberal Party would
seek to politicise the tragedy of
suicide and related issues of men-
tal health and depression.”

He noted that “suicides in The
Bahamas are down by 33 per cent
from 2009 to 2010, from twelve to
eight respectively. Still, every
suicide is a tragedy for the indi-
viduals and families involved as
well as the wider community.”

According to Mr Foulkes pri-
or to the Christmas holidays, the
Department of Social Services
entered into a partnership with
accounting firm Grant Thornton
to increase the number of coun-
sellors available to the national
suicide hotline. He noted that
because of the confidentiality of

PHILIP ‘BRAVE’ DAVIS had suggested
that the Free National Movement
administration’s failure to create suffi-
cient jobs to deal with the country’s
unemployment problem led to the
untimely deaths of Bahamians.

the hotline, a number of persons
have been helped over the past
several months.

“T encourage those who are in
need of assistance or who have a
family or church member or
friend or work colleague in need
of assistance, to call the confi-
dential National Suicide Hotline
at 322-2763.

“Bahamians should work in a
nonpartisan manner to prevent
aS many suicides as possible as
well as to respond to sucha
tragedy when it occurs,” he said.
“The reasons for suicide are var-
ied and often complex. Difficult



- for ‘seeking to politicise suicide’

and claimed the construction company had not informed them of ;

economic times may help to lead
to an increase in suicides as has
been seen in various countries
around the world during what
have been some of the toughest
economic times in generations.”

He said that “at home, the
Government responded with a
comprehensive and intensive
array of measures to respond to
the global financial crisis and its
impact on individuals, families
and communities. These included
a dramatic increase in social
assistance, the National Retrain-
ing Programme, and the land-
mark Unemployment Benefit
Programme as well as through
other measures to stimulate the
economy and jobs.

“According to the World
Health Organization, The
Bahamas has one of the lowest
suicide rates in the world. This
may be due in part to our strong
sense of community and religious
faith, both of which we should
continue to rely on in good and
difficult times.”

Mr Foulkes invited the Oppo-
sition as well as all others “to
offer ideas, support and prayers
in helping those in our homes and
communities who may be tempt-
ed to commit suicide. Moreover,
we should support those families
who have suffered the loss of a
loved one through such a tragedy.
What is needed in such trying
times is love and compassion, not
insensitivity or making judg-
ments.”

Mr Foulkes invited those who
wish to be trained as volunteers
for the Hotline to call 322-3035.

“T also wish to restate that the
National Suicide Hotline number
is 322-2763,” he said.

e SEE PAGE TWO

GRAND OPENING

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' ,

Planning moves
On ‘prosecution’
of sign owners

By ALISON LOWE
Business Reporter



alowe@tribunemedia.net

The Department of Physi- | Ill Waste-to-energy proposal for Grand Bahama promises more
: than 50 permanent posts, with total impact creating 450 jobs

_ Mi Construction phase could generate 348 jobs, with plant

_ aiming to generate between 15-30MW within 10 months of start

By NEIL HARTNELL
i Tribune Business Editor

cal Planning has asked the
Attorney General’s Office
to “prosecute” businesses
who have refused to take
down digital billboards
around New Providence, its
director said yesterday.
With over a month having
passed since the Ministry of
the Environment issued a

demand for the billboards to } ; :
: desperately needed jobs will
i be created if a renewable
: energy supplier obtains an
ment under a 1964 law regu- } agreement to supply Grand
: Bahama Power Company
Major said the matter is now } With energy from Refuse
i Derived Fuel (RDF), Tribune
? Business was told yesterday,
? with the proposed plant able
i to supply between 15-30
i Mega Watts (MW) within 10
: months of starting operations.

be switched off or removed,
given that they are consid-
ered illegal by the Depart-

lating advertising, Michael

out of his hands.

“Nothing concrete came
of it. The matter is at the
Attorney General’s Office
for further action. If we give
notice saying the signs

should be removed and they }
? Fuels Bahamas, a copy of

? which has been seen by this
i newspaper, said the energy
? supplier had obtained $100
? million in financing from the
? US Export-Import Bank, and

are not in the time specified,
then it is sent to the AG’s

office for prosecution,” said
Mr Major.

SEE page 6B

Gov't tendering
reform ‘critical’



STEPHEN
WRINKLE

By NEIL HARTNELL

Tribune Business Editor

The Bahamian Contrac-
tors Association’s (BCA)
president yesterday said an
Inter American Develop-

project to modernise the
Government’s procure-
ment system was “critical”
to maximising Bahamian
involvement in public sec-
tor infrastructure projects.

Stating that it was “nec-
essary” to regularise the
Government’s tender
processes and protocols,
Stephen Wrinkle said of
the $331,396 project, which
will be financed with an
$239,196 grant: “They cer-
tainly need that revision.
We hope that it proceeds
on course.

“That’s part of the
World Trade Organisation
(WTO) membership, as
one of the main require-
ments moving forward to
join the WTO is improving

SEE page 6B

responsible for errors and/or omission
from the daily report.



i Authority
i licencees have applied to the
i Supreme Court for permis-
? sion to intervene in Cable
i Bahamas’ two-year battle
: with the Utilities Regulation
i & Competition Authority
? (URCA), given that related
i legal issues potentially

THE TRIBUNE

u



FRIDAY,

ine

MARCH

ies



2011

SECTION B e business@tribunemedia.net

$100m renewable
plant’s jobs boost

More than 50 permanent,

The business plan for E-

-if its project was approved -
could sell the power it pro-
duced to either the Bahamas
Electricity Corporation
(BEC) or Grand Bahama
Power at $0.13 per kilowatt
hour.

This, the plan said, would
pass “substantial savings” on
to Bahamian residential and
commercial electricity users,
with fuel surcharges reduced
and the Bahamas driven a
step further down the road to
environmentally-friendly, sus-
tainable energy that could sta-
bilise power prices.

“With respect to employ-
ment, the local economy is
expected to realise the full
benefit from the job and pay-
roll estimate,” E Fuels
Bahamas’ project overview

PORT LICENCEES MOVE
TO INTERVENE ON URCA

: By NEIL HARTNELL
; Tribune Business Editor

Grand Bahama Port
(GBPA)

“abrogate or amend” the

Hawksbill Creek Agree-
i; ment.

Attorney Rawle Maynard

i and businessman Chris
i Lowe, in an affidavit sworn
i in support of the Freeport
: Licensees and Property
ment Bank (IDB) financed : Owners Association’s appli-
? cation to become an inter-
i vening party, said Cable
i Bahamas’ Judicial Review
: action had raised three “piv-
? otal” issues crucial to inter-
: preting key Hawksbill Creek
: Agreement provisions, and
i it was critical to “safeguard”
i? GBPA licensee rights.

The affidavit, filed with

i the Supreme Court on Feb-
? ruary 11, 2011, said the first
? provision related to the fact
i that the Hawksbill Creek
i Agreement stipulated that
i any amendment to it
? required the approval of at
i least 80 per cent of GBPA
i licencees. This, Messrs May-
i nard and Lowe alleged,

“vest in each licencee the

: right to be consulted, and a
i right to be heard and be
? counted in connection with
; all such amendments”.

And they claimed that the

same Agreement also pro-
: hibited the GBPA from
i assigning its rights, and

“restricted whilst providing

i for a transfer by the Port
: Authority as respect its said
i quasi-governmental powers
: and its ‘specified rights, pow-
i ers and obligations’ for the
i proper administration and
i development of the Port
i Area other than to a ‘Local
; Authority’”.

The last two Hawksbill

i Creek Agreement provi-
? sions come into play because
i Cable Bahamas’
i Review, over the seemingly
i innocuous question of
? whether its Freeport busi-
? ness should pay $78,747

The information contained is from a third :
party and The Tribune can not be held] :

; highlighted how the agree-

Judicial

worth of licensing fees, has

ment that

regime.

GBPA officials have been }
concerned since 1999 that :
to create ai
Bahamas-wide;
telecoms/communications }
regulatory regime, via the }
Telecommunications Act of }

attempts

SEE page 5B

underpins :
Freeport’s very existence }
and development could be }
breached by the national :
communications supervisory }

said. “The green power plant
jobs and the construction
activity for both phases will
also create a number of jobs
indirectly from the project-
related spending, and the
spending decisions of plant,
trucking and construction
workers.

“The number of indirect or
induced jobs created in the
Grand Bahama economy is
estimated at 450 jobs over the
two project phases. From a
short-term socioeconomic
point of view, the plant itself
and the related construction
activity will immediately pro-
vide as many as 348 much
needed jobs for Grand

SEE page 4B

FAMILY GUARDIAN

INSURANCE COMPANY LIMITED

‘No evidence’
BTC deal anti-
competitive

* URCA approves CWC privatisation, rejecting claims cellular
monopoly extension will ‘impede the growth of competition’
* Fears three-year monopoly will enable BIC/CWC to use
cellular profits to cross-subsidise rival business lines

* Other concerns involve CWC using Caribbean affiliates to
give BIC more favourable terms, and help it cost shift

* BTC international services market share 5-25%

By NEIL HARTNELL
Tribune Business Editor

Cable & Wireless Communications’ (CWC) acquisition of
a 51 per cent stake in the Bahamas Telecommunications
Company (BTC) was last night approved by the industry reg-
ulator on the grounds it would not lessen competition in any
of the services the state-owned incumbent currently offers,
as it rejected concerns that CWC would use the extended

three-year cellular monopoly to
competition” in other markets.

“impede the growth of

In a decision that will come as no surprise to informed
observers, the Utilities Regulation & Competition Author-
ity (URCA) found that in regard to BTC’s privatisation
“there is no evidence to support a finding of a substantial

SEE page 5B



ROBIN HOOD COMES ‘UNDER ATTACK’



FOOD FOR THOUGHT: The Robin Hood store in Prince Charles Drive.

By NEIL HARTNELL
Tribune Business Editor
and ALISON LOWE
Business Reporter
alowe@tribunemedia.net

Robin Hood’s president last

said the company was “under
? attack” from a host of unnamed

“sources” who wanted to force
it from the Bahamian retail
market, but warned: “I have no
intention of disappearing grace-
fully and going into the night.”

Sandy Schaefer spoke to Tri-
bune Business after dismissing

SEE page 4B

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BROKERAGE & ADVISORY SERVICES

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ian ur trata

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call us today at (242) 396-40

* But retailer’s chief warns:
‘T have no intention of
disappearing gracefully
and going into the night’

* Claims Robin Hood has
‘changed the face of
Bahamian retail’ by forcing
rivals to lower prices

* Dismisses claims of
lay-offs, and payroll and
supplier payment issues,
as ‘patently untrue’

A SUBSIDIARY OF

ed) 0 ee Ca COOL ae


PAGE 2B, FRIDAY, MARCH 11, 2011



THE TRIBUNE



Why business M&A

manes sense now

By SIMON COOPER
Res Socius

hen some

people ask

when is the

right time to
buy a business in the Bahamas,
others are genuinely surprised
why that question is ever asked
at all.

Some of those who question
already own businesses that
pop up and down like yo-yo’s.
Others are true entrepreneurs,
with enough capital and
patience to start from scratch.

The rest of us fall somewhere
in the middle — we have restrict-
ed funds, we are often on the
rebound from another job or
business, and we need to gen-
erate predictable income right
away.

This is why so many business
owners invest capital into a
proven business, as opposed to
watching sometimes scary out-
ward cash flows while their new
enterprise cranks up.

The trick, of course, is to find
a solid business with audited
books, and at a good price as
well.

For the sake of an example,
let’s assume you decide to open
up a new hamburger joint in
your home town where several
others already exist (if they did
not, then it is unlikely there is
business for you).

That market will probably
already be saturated, and your
enterprise is unlikely to result in
more than a few extra ham-
burgers being eaten on any
night.

Which is wiser: To try to
seduce customers from another
outlet already making money,



or buy a good one, lock, stock,
barrel and customers, too? I
rest my case.

To phrase the question in a
slightly different way, is this a
good time to go shopping for
Bahamian businesses?

I believe it will be, if the fol-
lowing are true, and assuming
that in this case you want to
spend your days across the
counter in a burger joint.

* A proven record of sus-
tained profit at a level that you
need.

* A genuine reason for sell-
ing the business that does not
diminish its value.

* Transferrable goodwill —
the customers will stay with
you.

Ongoing supply lines — the
suppliers will support you, too.

* A price that you can afford,
and that is also excellent value
under current market condi-
tions

The main dealbreakers to
any business sale are disagree-
ments about value. The buyer
wants to buy for next to noth-
ing, while the seller would like
to be paid for the untapped
potential in the business.

This is where business bro-
kers become matchmakers —
they are independent, unemo-
tional and adept at setting a fair

and equitable price for both
sides.

That said, is it a good time :
to buy a business in the }
Bahamas right now? Value is }

based on profit.

In America, median closed }
business sale prices dropped }
from $190,000 to $160,000 to }
$150,000 in 2008, 2009 and

2010, respectively.

I believe this trend applies :
to our islands, too, and this }
means our real business prices }

are down right now.

Any business is potentially a }
good buy, providing that cur- }
rent profit means a competitive }
investment, and the buyer }
believes its good days willcome }

again relatively soon.

This is similar to purchasing a
house at today’s depressed }

property prices, while secure in

the knowledge that the good
days will come again, as they }

always do.

The world economy will
rebound, and so will the }

Bahamas.

A wise investor buys a busi- }
ness when times are low, but }

are about to turn.

If you think this is true of our
lovely chain of islands, then }

take your cue right now.

NB: Res Socius was found-

ed by Simon Cooper in 2009,

and is a business brokerage :
authorised by the Bahamas :
Investment Authority. He has :
extensive private and public }
SME experience, and was for- }
merly chief executive of a pub- :
licly traded investment compa- }
ny. He was awarded an MBA :
with distinction by Liverpool ;
University in 2005. Contact him =}

on 636-8831 or write to
simon.cooper@ressocius.com.

CFA SOCIETY OF THE BAHAMAS
MONTHLY SPEAKER LUNCHEON EVENT

TOPIC: “TECHNICAL ANALYSIS: THE BASICS”

DATE: Wednesday 16" March 2011

TIME: 12:00 p.m. General Meeting
12:30 p.m. Speaker’s Address
Please arrive promptly!

Cagliari Room

Luciano’s of Nassau, East Bay Street
SPEAKER Barry Sine
Director of Research, Capstone

Members $35
Non-members $45
(Cheques payable to: CFA Society of The
Bahamas)
RESERVATIONS: PRE-REGISTRATION REQUIRED by
Monday 14" March 2011
David Ramirez, CFA
HYPERLINK “mailto:dramirez(@pictet.com”
dramirez(@pictet.com / 302 2217
*Prepayment required through one of the
Board Members

This presentation covers the basics — technical analysis history and theory and basics skills such
as chart construction and interpretation. The program also explains how technical analysis,
with its focus on the market supply and demand forces that determine securities prices,
complements fundamental analysis with its more theoretical toolset used to ascertain optimal
security valuations.

Barry M. Sine is the director of research of CapStone Investments. He utilizes fundamental,
quantitative, economic and technical tools to identify promising investment opportunities. In
2007, he was a #1 ranked analyst in the Wall Street Journal Best on the Street analyst rankings.
Mr. Sine has also held positions with JP Morgan, Prudential Securities, and Oppenheimer. He
is currently a director of the New York Society of Security Analysts, was a past director of the
Market Technicians Association, and founded and was the first director of the CMT Institute.
Mr. Sine is a lecturer and sits on the advisory board of the Student Managed Investment Fund
at Florida International University. He holds both the Chartered Market Technician (CMT)
designation for technical analysis and the Chartered Financial Analyst (CFA) designation
for fundamental analysis. He is also the co-author of the Technical Analysis reading for the
CFA Level I exam. Mr. Sine holds an MBA in finance and international business from New
York Univestity’s Stern School of Business and a BA in finance and economics from F airleig
Dickinson University.

Simon Townend is a Partner with KPMG based in The Bahamas, Managing Director
of KPMG Corporate Finance and head of KPMG’s Transactions and Restructuring
activities inthe Caribbean region, Bermuda, Isle of Man, Channel Islands, and Malta.
He has a BA (Hons) Degree from the University of Bristol, England, is a Fellow of
the Institute of Chartered Accountants in England & Wales (“ICAEW”), holds the
Corporate Finance (CF) Qualification (ICAEW, SII & CICA) and is an Associate
Member of the Chartered Institute of Arbitrators. He is also a KPMG Accredited
Valuations Specialist. Simon has 19 years of audit and corporate advisory
experience gained with KPMG member firms in the Channel Islands, The United
Kingdom and the Caribbean. He has led and worked on a significant number of
infrastructure projects across the Caribbean including public private partnerships,
financing, valuation, acquisition, disposal and procurement advice for container
and cruise sea ports, airports, water and wastewater assets, healthcare and energy
and communications assets.





OR UTA ae
AWN Vay YL) a I a

Two Higgs & Johnson’s attorneys, Heather
L. Thompson (partner) and Nadia J. Taylor é jimall yaa
(associate), presented during the seventh annu- c at ae Law ix fil
al Legal Education Week organised by the
Eugene Dupuch Law School’s Student Asso-
ciation.

Under the theme, The Legal Profession—A
Diversified Field, the week-long event sought
to underline the importance of integrity and
diversification among legal professionals in
the Bahamas.

Ms Thompson spoke on the topic Moving
Up The Corporate Ladder, emphasising the
importance of recognising that law is a pro-
fession rather than a job, and sharing some of
her personal experiences as an attorney in the
Bahamas.

She addressed the need to improve the rep-
utation of attorneys in the Bahamas interna-
tionally, and on the importance of having
meaningful communication with clients, apply-
ing the law in layman 's terms when appropri-
ate.

Ms Taylor informed the law students about
her experiences as an attorney working in the
private client and wealth management practice
group at Higgs & Johnson.

She added that in order to maintain its sta-
tus as one of the premier financial service cen-
tres in the world, it was essential for the
Bahamas to supply an available pool of well-
qualified Bahamian financial services profes-
sionals, so as to offer long-term working rela-
tionships with resident expertise.



ADDRESS: Heather L. Thompson talks candidly
to the students.

Coan -

A enor

Spucertts Ss0Clt



PRESENTATION: Nadia J. Taylor presents on
private client and wealth management.



ALL SMILES: Heather L. aosnsort (c) with Fieiis Dupuch Law School principal Tonya Galanis
(r) and Council of Legal Education president Lanisha-Tamar Rolle (I).



COMMUNICATORS: Nadia J. Tavlonte ) with Council of Legal Education president Lanisha-
Tamar Rolle (I) and Eugene Dupuch Law School student Samantha Francis-Wells.

MORTON BAHAMAS LIMITED K+ S$

POSITION AVAILABLE
ELECTRICAL ENGINEER:

Morton Bahamas Limited, A K + S Group Company seeks a
suitable candidate to fill the position of Electrical Engineer, at its
salt production facility in Inagua, The Bahamas.

This position support the facility by managing the activities
associated with electrical projects and electrical maintenance.

The successful candidate will have the ability to manage projects,
and possess’ good computer and organizational skills. Good com-
munication skill, interpersonal skills and the ability to solve com-
plex problem.

A College Degree in Electrical Engineering is required.
Entry level candidates are welcomed.

Bahamian Citizen or Holder of Bahamas Work Permit required.
Opportunities Include:

- Competitive Salary

- Relocation Benefits, worker plus family

- Major Health Benefits, worker plus family

- Dental Benefits, worker plus family

Visit www.mortonsalt.com, and follow the career page.


THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 3B



Trade meeting to ensure viability of handicrafts

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A trade symposium is being planned
to bring Bahamian straw vendors and
a multitude of straw/handicraft manu-
facturers together to “ensure the via-
bility” of authentically Bahamian craft-
work as a trade, ahead of the launch of
the new Nassau Straw Market as a
platform for locally-made souvenirs.

The Ministry of Works is leading
efforts to enhance linkages between
the straw work manufacturers, who
are located throughout the Bahamas,
and vendors who will be setting up
stalls inside the new Straw Market in a
bid to increase the opportunity for
each set of stakeholders, and the
Bahamian tourism product, to benefit.

The reality is that while wholesalers
of foreign souvenirs “from Taiwan and
Japan” have got ready access to ven-

dors in the current tented Straw Mar-
ket from bases in Nassau, and can offer
them an ample supply and variety of
products to retail at their stalls at a
lower price, enabling greater profit
margins, Bahamian handicraft manu-
facturers are located throughout the
Family Islands and have faced diffi-
culties in pricing and distributing their
goods competitively, according to
Downtown Nassau Partnership man-
aging director, Vaughn Roberts.

Elizabeth Keju, undersecretary in
the Ministry of Public Works, said the
Government, through the Ministries
of Works and Tourism, and entities
such as the Downtown Nassau Part-
nership, are attempting to minimising
issues that have limited the penetration
of Bahamian handicrafts in the sou-
venir market.

She said that based on her interrac-
tions with straw vendors, the opportu-
nity to maximise the sale of authentic

Bahamian handicrafts to tourists is a
“sleeping giant” that could provide
huge financial and social benefits. Ven-
dors, she said, have described sending
children to “law school, medical school
and engineering school” using money
they have earned in the past from the
sale of straw work to tourists.

Revive

The government hopes it can revive
and restore the industry in this regard.
“We're hoping that we can as much
as possible have a market that sells
authentic Bahamian crafts. There's
some challenges in that area in terms
of availability and cost, but we're
working with vendors and the manu-
facturers,” said Ms Keju.

A meeting was held two weeks ago
in which vendors were brought togeth-
er with manufacturers of handicrafts to
begin to talk about what could be done

to help them sell more Bahamian-
made items.

While many of the vendors are
themselves skilled craftspeople, said
Ms Keju, they often turn to selling
cheaper imported souvenirs, as they
find them easier to sell to tourists who
are often looking for a low cost trinket
or bag.

The ability to get a ready supply of
reasonably priced Bahamian handi-
crafts may be key to increasing their
sale, suggested both Mr Roberts and
Ms Keju yesterday.

“A vendor may not be able to sell a
$100 straw bag every day,” said Mr
Roberts, “but you may be able to sell
quite a few $5 wallets or something
like that.”

A trade symposium where vendors
can peruse the range of items that
straw/handicraft manufacturers can
produce, and in which discussions can
be held between both sides towards

MP blasts URCA on ‘credibility problem’

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

A PLP MP again questioned the “credibility” of
the Utilities Regulation and Competition Author-
ity (URCA) and threatened court action, as the
communications sector regulator announced it
has given formal approval to the sale of 51 per
cent of the Bahamas Telecommunications Com-
pany (BTC) to Cable and Wireless Communica-
tions (CWC).

URCA yesterday issued its adjudication on the
change in control of BTC, saying it approved the
transaction because it did not find evidence that by
allowing CWC to take a 51 per cent interest in
BTC there would be a “substantial lessening of
competition” in the telecommunications sector
in the Bahamas.

Noting that the regulatory authority has “been
aware of and had due regard to public sentiment
regarding the change in control, and has noted the
significant public interest in various aspects of
the transaction”, URCA said it reviewed “sever-
al issues which are not relevant to the matters
which URCA is empowered by the Communica-
tions Act to consider in relation to its approval or
rejection of the change in control”.

Fred Mitchell, MP for Fox Hill, had called on

URCA not to approve the change in control of
BTC on the basis of several considerations -
among them, that he believed the exclusivity peri-
od granted to CWC over the cellular market was
unconstitutional, and the fact that URCA’s CEO
and a consultant to the entity have had previous
ties to CWC.

He also contended in a February letter to
URCA, declaring his opposition to the BTC con-
trol transfer, that he did not think selling control
of BTC to CWC would result in any benefit to
consumers, as the Government has contended.

Integrity

URCA’s chairman, Wayne Aranha, since issued
a statement in defense the integrity of the regu-
lator and its chief executive, Usman Sadaat. It
called for “well meaning members of the public to
desist from unproductive and damaging behaviour
or unsubstantiated public comments, and instead
concentrate objectively on the core issues”.

Yesterday, URCA went further on the issue
of the alleged conflict of interest, stating that it was
satisfied “that no conflict of interest arises in
respect of any person who has been in any way
involved in URCA’s consideration of the parties’
request for approval of the change in control” of

NOTICE

IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT
IN AND FOR PALM BEACH COUNTY, FLORIDA

IN THE MATTER OF THE
TERMINATION OF PARENTAL
RIGHTS FOR THE PROPOSED
ADOPTION OF A MINOR CHILD

Re: Baby Boy Sturrup
(DOB: 8/25/2010)

CASE NO: 50 2010 DROOTTTEAXAANB
FAMILY DIVISION FJ

NOTICE OF ACTION ON PETITION AND HEARING TO TERMINATE PARENTAL
RIGHTS PENDING ADOPTION

To: Eckard Shura

Last Known Place of Resaience: Nassau, Bahamas
Physical Desonption: Affican American Male, 63", 250 lbs, brown haar, brown eyes

ane? thin bailed
Date of Birth: 02h NST?

YOU ARE NOTIFIED that a Petition to Tenminate Parental Rights Pending
Adeption has been filed in the above-styled Court tor the adoption of infant Sturrup, a
male child born on Auqust 23", 2010 at Northshore Medical Center, Miami, Dade
County, Florida. ‘You are required to serve a copy of your written defenses. If any, to wil
on Lauren Feingold, Esq., for The Law Offices of Feingold & Kam, LLC, whose address
is $100 PGA Bhd, 2â„¢ Floor, Palm Beach Gardens, FL 33416 and file the original with
the clerk of the aiove-styled court on or before thirty (30) days fram the date of the first

publication of this notice

Thare will be a hearing on the Pattion to Tarminate Parental Rights Pending
Adoption on March 18th, 2011 at 10:00 4.M. before Judge Amy Smith, Room 3, atthe
Pain Beach County Courthouse, 3184 PGA Bhd., Palm Beach Gardens, Florida 33418
The Court has set aside fifteen (75) minutes for this heanng.

UNDER SECTION 63.089, FLORIDA STATUTES, FAILURE TO TIMELY FILE A
WRITTEN RESPONSE TO THIS NOTICE AND PETITION WITH THE COURT AND TO
APPEAR AT THIS HEARING CONSTITUTES GROUNDS UPON WHICH THE COURT
SHALL END ANY PARENTAL RIGHTS YOU MAY HAVE OR ASSERT REGARDING

THE MINOR CHILD.

WITNESS my hand and seal of said Court on Setar ary |e 2014

BTC. On the question of “lack of potential effi-
ciencies and consumer benefits” raised by oppo-
nents of the change in control, such as Mr
Mitchell, URCA said that it would “consider the
efficiencies and benefits claimed by the merging
parties (BTC and CWC) when there is a likeli-
hood of a substantial lessening of competition in
a market”.

Given that it does not see the acquisition of
BTC by CWC as likely to lessen competition in
the Bahamas telecoms industry, URCA suggest-
ed such claims regarding “efficiencies and bene-
fits” do not come into play.

Mr Mitchell reiterated his belief that URCA has
a “credibility problem”, telling Tribune Business
the body’s decisions “are really not worth the
paper their written on”.

“It is very interesting that the Prime Minister
was able to say that URCA breached the rules in
connection with the hiring of foreign personnel,
and that his government was going to write them
a letter asking them to act according to govern-
ment policy. The first question in my mind is:
What else can (the government) direct URCA
on?” he added. Mr Mitchell said that as an “inter-
ested individual” he will review the reasons given
by URCA for approving the change in control
of BTC, and “if necessary take the necessary court
action”.

coming to a consensus on addressing
some of the barriers that have tradi-
tionally limited the extent to which
they have been able to work together,
is planned for summer 2011.

“We’re hoping we can have a trade
symposium between the manufacturers
and the operators, where they can sit
together, look at what's available, talk
about pricing issues, marketing issues
and begin this serious process of net-
working and negotiating to ensure the
viability of this trade for all concerned,
because if one fails all fail. We want
them to sit down and work things out,”
said Ms Keju.

According to the Works official, the
Straw Market is “on target” both in
financial terms and construction sched-
ule, and remains set for a “late sum-
mer, end of year 2010” opening. Inte-
rior work, including the installation of
counters for vendors and utilities is
currently underway.



HITTING OUT: Fred Mitchell, MP for Fox Hill

Fa)

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The Bahamas First Group is the largest property and casualty insurance
company in the Bahamas and has an A- (Excellent) Rating from A. M.
Best, reflecting the company’s financial stability and sound risk
management practices.

Please apply before aith March, 2011 to:

Group HR & Training Manager
Bahamas First Corporate Services, 32 Collins Avenue
P.O. Box SS-6268
Nassau, Bahamas

Or email to:
careers@bahamasfirst.com


PAGE 4B, FRIDAY, MARCH 11, 2011

THE TRIBUNE



SES
Robin Hood ‘under attack

FROM page 1B

Bahama residents.

“A more long-term eco-
nomic benefit of a reliable
and sustainable green power
source will be the attracting
of other businesses to
Freeport, Grand Bahama,
and the expansion of existing
businesses.”

The plant will operate as a
green power gasifier, turning
Refuse Derived Fuel (RDF)
into gas to generate energy.
The gas will be taken to a
Heat Recovery System Gen-
erator (HRSG), which con-
verts it into steam to power a
turbine.

“The turbine will generate
electricity that will be sent to
the grid for power use. The
project is proposed in two
phases, each phase having the
capability to produce up to 35
MW (gross) or 30 MW (net)

$100m renewable
plant’s jobs boost

? let go from the two-store retail-

to West Palm Beach, Florida

Caen Business on Wednesday, when

: he also branded reports of lay-

Implementing waste-to- : offs at the retailer, which has a

energy and other renewable : 300-strong staff, as “not at all
? true”, Mr Schaefer said the last
: significant staff cut backs were
said, would reduce this }
nation’s greenhouse gas emis- }
sions, as well as fossil fuel }
imports, and boost energy } :
? week’s period do we let go
? three-four people? Yes. In a
? week, do we hire four-five peo-
? ple? Yes, absolutely.”

in two phases of renewable
(green) power,” E Fuels
Bahamas said. That power
volume is significant, given
that Grand Bahama’s maxi-
mum electricity demand in
2009 was 73 MW.

RDF is generated from
municipal solid waste, and is a
blend of paper and plastic,
with chipped tyres added in
to generate extra heat. It is
derived, E Fuels Bahamas

said, from residential waste,
not industrial waste, with
glass and metals removed.
“The initial feedstock for
the green power plant will be
prepared RDF shipped from
West Palm Beach at a blend
of 70% RDF and 30% tires
(blended onsite),” the com-
pany added. “The prepared
RDFis baled, plastic wrapped
and put into standard sea-
going containers for shipment

Leading Multi-National Company is looking for
Talented Candidates for the following position:

Administrative Assistant

ROLE:

Performs administrative duties for the General Manager and Sales Team. Responalble for the Human
» Maintains all persia bags and private files. Processes monthly
I

Resources function for the Com
pee and related duties using

“based Payrall Program. (

fessenger'Clerk and Housekeeping Services.

NECESSARY SKILLS:

* Graduate of a Business or Secretarial School
* Minimum of five (3) years experience in the administrative and‘or human resources held
* Ability to use Microsoft Office (Word Processing, Excel, and PowerPoint)

* Excellent organizational skills, and ability to work on own initiative

mat

es activities of the contracted

» Committed to the highest standards amd confidentiality in the work place
* Typing 30-60 wpum, (minimum)
* Knowledge of bookkeeping and accounting principles

If you meet the position’s requirements, please send your resume by email to:

BAHAMAS erst

PIEST |W INSURANCL TODAY. TOMORROW.

Career opportunity for an ambitious career oriented individual

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Major Responsibilities:

¢ Conduct inspections of damaged vehicles and compile and
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* Conduct pre and post-inspections of vehicles at BFG
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worthiness and acceptability of risk
Conduct on-scene accident investigations, take statements
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Monitor and control repair work with Approved Garages
Prepare reports and input data in the system
Provide customer service
Travel to the Family Islands

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5 B.C.C.S.E.’s or equivalent with C passes or above,
including English and Mathematics
Minimum 2 years experience in auto mechanics
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The Bahamas First Group is the largest property and casualty
insurance company in the Bahamas and has an A- (Excellent) Rating
from A. M. Best, reflecting the company’s financial stability and
sound risk management practices.

Please apply before March 18", 2011 to:
Group HR & Training Manager
Bahamas First Corporate Services

P.O. Box SS - 6268
Nassau, Bahamas

Or email to:

careers@ bahamasfirst.com



by rail
Freeport, Grand Bahama.”

energy projects in the

Bahamas, E Fuels Bahamas

security.

Important

“The [former] is especially
important given that the :

annual average emission of } Pay cheques of some Robin
6.7 tons of CO2 per person } Hood employees had bounced
makes the Bahamas among } pita bees oe a gra

. ; .° ? them, an at some of the
the highest per capita emit- i retailer’s suppliers had been

ters of Greenhouse Gases } aha

: . ? chasing it for due payment for
(GHGs) in the world, E ? several weeks. “That’s just not
Fuels Bahamas said. “This } the case,” he said of both

could generate an interesting }
potential to sell Carbon Emis- }
sion Reductions (CERs) }
through the Clean Develop- }
ment Mechanism (CDM) :

developed under the Kyoto : the exception of maybe two, we

? pay cash in advance, and we’ve

Protocol.

ee wall grocery store side so we can get
reduce The Bahamas’ carbon better pricing.”
footprint by producing green }

power.

source and site.”

FROM page 1B

as “patently untrue” claims that
Robin Hood was this week in
the process of laying-off 25-30
staff with, as stated by Tribune
Business sources close to the
situation, some 15-18 persons

er on Wednesday.
First contacted by Tribune

those which took place in Jan-
uary.

“After that it has been the
status quo,” he added. “In a

Mr Schaefer also dismissed
claims, made by various retail
and wholesale sources, that the

claims. “TI don’t know where all
of this is coming from.”

When it came to supplier
payments, Mr Schaefer added:
“All of our local suppliers, with

done that since we opened the

Dismissing the claims that

? Robin Hood had run into finan-

“More importantly, the : cial difficulties, having possibly

project is designed to encour- }
age the local power company :
to provide a lower cost of }

power to residents, business } !
and industry, while improv- } Food Services to
ing the reliability through } pee Ord
diversified power-generating cash by delivery. That buys us a

? few more points, so how can

expanded too far, too fast, as
“Just sour grapes”, Mr Schaefer
added: “We’re paying all of our
local suppliers, from Bahamas
Asa H

NOTICE

EST-QUEST CORPORATION

In Voluntary Liquidation

Notice is hereby given that in accordance
with Section 138(4) of the International
Business Companies Act. 2000, EST-QUEST
CORPORATION is in dissolution as of March

4, 2011.

International Liquidator Services Inc. situated at
3rd Floor Withfield Tower, 4792 Coney Drive,
Belize City, Belize is the Liquidator.

LIQUIDATOR



we be behind with payments?
Show me an invoice, show me
something we haven’t paid, and
at the end of the day I will
address it.”

The Robin Hood president
then suggested to Tribune Busi-
ness that forces in the Nassau
business community and wider
society were out to get him, and
potentially force him out of
business, having been upset at
how his company had shaken
up the Bahamian retail industry
and forced rivals to lower their
consumer prices.

Telling this newspaper to
“connect all the dots”, when it
asked for the names of the
forces ranged against him, and
suggesting that recent articles
written about Robin Hood’s
new Prince Charles Drive store
may have sparked competitor
jealousy, Mr Schaefer said this
newspaper’s revelation that he
was in exploratory
merger/acquisition talks with
City Markets’ principals may
have prompted the rumours in
a bid to reduce his company’s
value.

“We're under attack right
now. There’s no question.
There may be a lot of people
who have something to gain by
putting us in a weak position,”
he told Tribune Business. “At
the end of the day, business is
tough for everybody. Do we
need to make it even tougher?”

Mr Schaefer said opposition
to Robin Hood had been
around “since the beginning of
time.” And he added: “There’s
one undeniable fact: Robin
Hood has changed the face of
retail on this island. We were
the ones who said: ‘The Emper-
or’s not wearing any clothes’.
We forced everyone to lower
their prices.

“These people hope to gain a
lot if we disappear from the
market. Do I have any inten-
tion of disappearing? No. I
have no intention of disap-
pearing gracefully and going
into the night.”

Robin Hood is currently talk-
ing to City Markets’ principals
and potential other interested
parties, but Mr Schaefer vehe-
mently denied that these moves
had been prompted by his busi-
ness running into financial dif-
ficulties.

The late opening of Robin
Hood’s new Prince Charles Dri-
ve store, which is now being
further impacted by the closure
of a portion of the road in front
of it due to road works, was
said to have cost the company
millions of dollars in revenues
over the Christmas 2010 period.

The expansive retailer had
hoped to open the new store in
time to catch the Christmas and
New Year shopping season, a
period that often accounts for
up to 40-50 per cent of some
stores' annual sales revenues,
but Tribune Business sources
suggested the opening was
delayed by the need to comply
with requirements stipulated by
the Ministry of Works and oth-
er government agencies.

Join the Leading Environmental Conservation
Organization in The Bahamas

JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND
PROGRAMME DIRECTOR
LEON LEVY NATIVE PLANT PRESERVE - ELEUTHERA

Position Summary: This position is located in Gowemer’s Harbour, Eleuthera
Candidate will be responsible for providing day to day managensentt and
supervigecn of Leon Levy Native Plant Preserve (LLNPPL Potential candidates
showkd have a hove for the Bahanvan env iponiieent. A strong inpercat in the
natural history and cultural history of The Bahamas is a plus

Primary Responsibilities:

General Preserve monagement duties

Develop all age schom cusiculom programs incheding detailed lesson
plans, teacher workshops, special summer programmes and om sibe

activites.

Owtreach to local and nalomal educabonal meltubons
Manat on aie programa incheding Doorn programme, special events

and intern programmes.

Serve as a community lisison between Local Goverment, Ministry of
Tourism, local businesses and other agencies.

Qualification and Experience:

M5 or GS Degree in Environmental education, Geology or Botany with

a minimum of 5 years’ experience

Demonstrated experience in Program development

Teaching certificatian a plus
Proficiency in MS Ollie sista.

Sirome organizational and tine mamaeenend skills
Excellent oral and written communication skills

To apply: Submit cower letter, resume and three references io the Bahamas

National Trust, Attn: Human Resources mvemyesitbet.bs by
O11.



18th,
THE TRIBUNE

FRIDAY, MARCH 11, 2011, PAGE 5B



‘No evidence’ BIG = Port licencees move

FROM page 1B

lessening of competition”
resulting from the $210 mil-
lion acquisition by CWC.

Pointing out that its pow-
ers under the Communica-
tions Act only allowed it to
block industry mergers and
acquisition on competition
grounds, and when the pur-
chase of media assets was
against the public interest, the
regulator concluded of the
BTC privatisation: “URCA
finds that the change in con-
trol contemplated by the
transaction would not have
either of the adverse effects
set out [in the Act’s] section
72; substantially lessening
competition, or for a change
in control involving a media
public interest, an effect con-
trary to public interest.”

Essentially, because CWC
does not already have a pres-
ence in the Bahamian com-
munications market, URCA
found that its BTC acquisi-
tion - taking over majority
control at an existing operator
- would have no impact on
current competition levels.

However, one respondent
(possibly Cable Bahamas) to
URCA’s consultation process
on the BTC deal suggested
that the privatisation by CWC
would create “a substantial
lessening of competition in
several markets”, as it meant
the company’s Caribbean
business, LIME, would not
enter the Bahamas as a com-
petitor to BTC.

Noting BTC’s dominant
share of the fixed-landline
and cellular markets, where
according to URCA the state-
owned incumbent holds a 98
per cent and 100 per cent
market share, respectively,
this respondent argued that
the extension of BTC’s post-
privatisation cellular monop-
oly from two to three (likely
four) years, had effectively
extended the company’s abil-
ity to cross-subsidise its other
businesses with profits from
the cellular side.

“The transaction will cause
a lessening of competition in
the fixed markets, as it
extends the licensee’s ability
to leverage its mobile monop-
oly to impede the growth of
competition in the fixed voice,
broadband, domestic long dis-
tance and international long
distance market,” the respon-
dent said.

“The transaction will cause
a lessening of competition in
the international services mar-
kets because [CWC] will have
an incentive and the ability to
favour [BTC] over other
operators licensed to provide
international services to cus-
tomers in the Bahamas.”

This was because, the
respondent argued, CWC’s
Caribbean affiliates held dom-
inant positions in their home
markets, and had the ability
to offer call termination ser-
vices to BTC “on price terms
and conditions which dis-

criminate against other inter-
national services providers in
the Bahamas”.

And the same respondent
also expressed concern that
CWC, with its ‘One
Caribbean’ operating model,
“would be in a position to
cross-subsidise” BTC by pro-
viding operational, manage-
ment and administrative ser-
vices to it at lower prices,
enabling the privatised enti-
ty to “engage in anti-compet-
itive cost shifting”.

“These practices may not
be addressed by, or be
detectable under, URCA’s
current cost accounting and
accounting separation rules,”
the respondent said.

In response, URCA said it
was impossible for it to spec-
ulate on what would happen
through the extension of
BTC’s cellular monopoly
from two to three years, as
this was a matter that had yet
to be debated and passed by
Parliament.

Monopoly

This, it added, was a matter
for the Government and Par-
lament, not itself, although it
noted that the cellular
monopoly was “core” to
BTC’s value and that a failure
to consummate the CWC deal
might set back the introduc-
tion of competition in this
market even further.

When it came to interna-
tional services, both BTC and
CWC estimated that the for-
mer’s market share was
between 5 per cent and 25 per
cent of total revenues.

While BTC owned and
operated the Bahamas II fibre
optic cable, which provided
connectivity between Florida
and New Providence/Grand
Bahama; the cable system
linking the other Bahamian
islands and Haiti; and the
satellite earth station at Solid-
er Road for European con-
nectivity, this was balanced
by the competing infrastruc-

ture of Cable Bahamas and :
Columbus Communications, ; that same year, and now the Communica-

Another international con- | tions Act 2009, could erode both its rights to

nectivity provider, Global i
Nexus Communications, had }
been licensed to provide con- }
nectivity to Freeport, and :
while CWC had cables that ;
terminated in Florida they
were not substitutes for }
BTC’s, as they did not link }
i GBPA in a somewhat untenable position.

the Bahamas.

When it came to concerns }
about CWC providing pref- }
erential call rates for BTC, }
and leveraging its mobile :
monopoly to ensure that calls }
by BTC customers were rout- }

ed along CWC’s networks,
that.
On the fixed-voice side,

was estimated to have 98 per
cent market share,

FROM page 1B

licence this industry in Freeport and "require
us to breach the Hawksbill Creek Agree-
ment".

A draft February 14, 2001, letter from Sir
Albert Miller to then-finance minister, Sir
William Allen, on this issue, warned: "The
proposed draft agreement first sent to us
by the Office of the Prime Minister places

"To agree to the assignment of our rights,
as proposed therein, would require us to
breach the Hawksbill Creek Agreement."

In their affidavit, Messrs Lowe and May-
nard said the question of whether the Com-
munications Act applied to Freeport “raises

: issues of law requiring an interpretation of
URCA said its regulatory }
powers enabled it to deal with ;

provisions of the Agreement.
“Licensee members of the Association

! wish to be heard in relation to that question,

; ; i as it concerns the meaning and legislative
URCA said that while BTC :

effect of the 1999 Act and its potential abro-

gation or amendment of the Agreement.

the :
remaining 2 per cent belong- ; any abrogation or amendment of the Agree-
ing to Systems Resource

Group’s (SRG) IndiGo }
brand, this data did not
include Voice over Internet :

pai oe protection of our rights and interest

; depend.”

calls made via calling card.

Turning to the claim that ; ian
the ‘RIC privatisation a : ment vested GBPA licencees “with rights of
vents CWC from entering the

Bahamian market as a com- } COnStitutional protection”, Messrs Maynard

petitor to the state-owned }
incumbent, thus constraining :
its behaviour, URCA said the }
fixed line and data markets }
had been open to competitors
since 2009, and CWC had }
made no move to obtain the }
: GBPA and its legal advisors by David Davis,

“URCA believes that the }
high cost of entry and long }
time to roll-out in the fixed
services markets (particularly i
those in which [BTC] has sig- }
nificant market power) sub- :
stantially decrease the likeli- :
hood of [CWC] entering the ;
market, save by way of acqui-
sition of existing licensed }
operators,” the regulator said.

And, on the data side, com- }
petition would not be impact- }
ed because BTC has just a 30 }

necessary licences to do so.

per cent market share.

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) ORTO MARKETING LTD. is in dissolution;

(b) The date of commencement of the dissolution
is the 10th 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



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Achieve success and
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“As licensees, we stand to be affected by

ment, and we are compelled therefore to
take appropriate steps when (and if) neces-
sary to safeguard the inviolability and
integrity of the Agreement upon which the

Alleging that the Hawksbill Creek Agree-
a proprietary nature that are to be afforded

and Lowe alleged that all licencees derived
their rights and status from it. They also
had the right to be consulted and heard,
and consent to any amendments to the
Hawksbill Creek Agreement.

The Government's current position is set
out in two letters sent in late 2009 to the

permanent secretary in the Prime Minis-
ter's Office, in which he states: "The Gov-
ernment's position is that there should be a
single regulator for the electronic commu-
nications sector of the Bahamas."

Adding that the Bahamas Telecommuni-
cations Company (BTC) post-privatisation
was expected to continue operating in

*y

4

to intervene on URCA

eal anti-competitive:

Freeport under the current licensing regime,
Mr Davis added: "Having regard for the
provisions of the Hawksbill Creek Agree-
ment, the Government is minded, using
moral suasion, to seek the cooperation of
your [Port Authority] Board in agreeing
that the URCA regime might be extended
to Freeport. In this regard, I herewith for-
mally seek the concurrence of your Board."

Various drafts have been kicked back and
forth, the most recent, according to an
August 31, 2009, legal opinion prepared by
Graham, Thompson & Co's Robert Adams
for GBPA president Ian Rolle, having been
a draft Deed of Assignment sent on June 18,
2009, by T. B. Donaldson, chair of the Gov-
ernment-appointed privatisation commit-
tee.

According to Mr Adams, this draft
involved the GBPA assigning all its rights to
licence and regulate the provision of elec-
tronic communications services within the
Port area to URCA for $1.

"GBPA's rights under the existing busi-
ness licences that have been issued to elec-
tronic communications services providers
in the Port area will be included in the
assignment," Mr Adams wrote.

"For example, all of GBPA's rights,
including the right to collect the licence fees,
under its licence agreement with BTC and
Cable Bahamas will also be assigned to
URCA."

Summing up the implications, Mr Adams
warned: "Although it is our view that the
Deed does not purport to 'amend' the terms
of the Hawksbill Creek Agreement, it must
be noted that an assignment of a part of
GBPA's rights under the Hawksbill Creek
Agreement to a third party would repre-
sent a very significant change to the regula-
tory landscape in the Port area.

"Accordingly, if GBPA is prepared to
give up its rights to regulate the electronic
communications sector in the Port area and
negotiate mutually acceptable commercial
benefits and terms for an assignment of such
rights to URCA, it is our recommendation
that GBPA engage in a well-planned, struc-
tured and transparent process of public con-
sultation with its existing stakeholders and
licencees prior to entering into such an
assignment despite the fact that there is no
strict legal obligation on GBPA to do so."

ie
nee 8

The National Insurance Board
of the Commonwealth of The Bahamas

Proposal For Independent Auditors

The National Insurance Board (NIB) invites suitably qualified accounting firms to submit a proposal
toserveas independent auditors for che audit of the Nacional Insurance Fund's consolidated financial
statements for the fiscal year ending December 31, 2011, subject co renewal for an additional rwo
years, The financial statements are to be completed in April, following the year-end.

The 2009 Annual Report can be accessed at www.nib-bahamas.com

The proposal should include, but not be limited to

1. General information on che fiem and its local and/or international affiliates,

2. The qualifications and experience of the principals of the firm, including comments regarding
other professional statt members’ skills and competence.

. Information on the firms audit experience in financial institutions similar in size or nature to

the NIB,

+. ‘The approach and time-line chat will be adopced for che audit and relaced services thar che firm

can provide the NIB.

. Comments with respect to the firm's independence.

5. Estimates of fees and billings.

Proposals should be addressed Ti:

The Director
THE NATIONAL INSURANCE BOARD
Clifford Darling Complex
Baillou Hill Road
Nassau, Bahamas

and marked “Proposal to Serve as In

endent Auditors”, to active at the Ditector'’s Office no

lacer chan 4:00 p.m. on Friday, April 29, 2011. The NIB reserves the right co reject any or all

tenders.






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N ASSA U AND BAHAMA ISLANDS LEADING NEWSPAPER Criminally-minded paid in BTC pr otest V olume: 107 No.91FRIDAY, MARCH 11, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER SUNNY AND WINDY HIGH 78F LOW 65F S P O R T S SEESPORTSINSECTIONE Simone Pratt completes successful COSAT tour By NOELLE NICOLLS Tribune Staff R eporter nnicolls@ tribunemedia.net CRIMINALLYMINDED peoplew ere overheard to say t hey had been paid to participate in the BTC mass protest of Febru-a ry 23, according to the Police Staffers Association. A nd it is also undeniable t here were people in the crowd with potential criminal motives, said Dwight Smith, P olice Staff Association (PSA The association yes t erday called on politi cians to stop politicis ing the issue, because the observation of t hese participants by police was simply a part of their job to m aintain law and order and to ensure the safety of protest-e rs and observers. Mr Smith said the police had a difficulty with partici-p ants in the protest who had nothing to do with BTC, Police association claims some demonstrators were advancing political groups TRY OUR D OUBLE M cFISH The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM THEBAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page eight STUDENTSPONDERCAREERMOVESATJOBFAIR B y TANEKA THOMPSON T ribune Staff Reporter tthompson@tribunemedia.net T HE parents of a prema ture baby who died in the Princess Margaret Hospitalc laim they have been unable t o obtain their son's complete medical records documents they need in order to get a second opinion on their child's illnesses and cause of death. F or more than a year, Pantelis and Claudia Tsakkos PARENTS OF BABY WHO DIED IN PMH UNABLE TO GET COMPLETE MEDICAL RECORDS SEE page eight THE Utilities Regulation & Competition Authority last night approved Cable & Wireless Communications (CWC acquisition of a 51 per cent stake in the Bahamas Telecommunications Company (BTC lessen competition in any of the services the state-owned incumbent currently offers. The industry regulator rejected concerns that CWC would use the extended three-year cellular monopoly to impede the growth of competition in other markets. SEE BUSINESS SECTION FOR FULL STORY URCAAPPROVES ACQUISITION OF BTC By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net POLICE were called to calm a group of road workers from the Jose Cartellone Construction Company who were outraged that they could not collect their wages from the bank yesterday. The group of more than 20 workers caused a scene at the Shirley Street location of Bank of The Bahamas after they were told their pay was not in their bank accounts. The men then left the bank and remained outside until officers quelled the rowdy crowd, police said. However, a representative from the company which was hired by the government to carry out the New Providence road improvement programme said the whole ordeal was a "misunder standing" because the men went to the bank a day early. After officers explained that their wages would be available at the bank today, the men left the scene peace POLICE C ALLED AFTER R OAD WORKERS TOLD PAY NOT IN THEIR BANK ACCOUNTS SEE page nine By CELESTE NIXON Tribune Staff Reporter cnixon@tribunemedia.net A TOP official at the Ministry of Works says road closures will be unavoidable as the government works to complete several road improve ment jobs for the benefit of the entire island. During a press conference held yesterday to address con cerns expressed by business owners in the Prince Charles Drive and Fox Hill Road area, Permanent Secretary Colin Higgs explained that as a result of the physical constraints of the eastern corridor, some road closures and diversions are necessary and unavoidable. The roadworks on Fox Hill Road and Prince Charles Drive are part of the $120 million New Providence road improvement and infrastruc ture project. However, business owners in the area became angry over the loss of trade on Tuesday after contractors closed a portion of the road. But Mr Higgs insisted the works are necessary, not only to improve road networks and ROAD CLOSURES UNAVOIDABLE AS IMPROVEMENT WORK CONTINUES SEE page nine THEFIRSTSTEP: College of the Bahamas students line up to fill out job applications at a career and job fair yesterday. Norma Turnquest, co-ordinator of the fair, described it as a networking event for both students and businesses. SEEPAGEFIVE P h o t o / R o n n i e A r c h e r DWIGHT SMITH

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L OCAL NEWS PAGE 2, FRIDAY, MARCH 11, 2011 THE TRIBUNE POLICE are asking the public to help them locate 37-yearold Randon Burrows who is wanted for questioning in rape and burglary investigations. Burrows, who also goes by the alias Randon Beaver, is known to have last resided at #74 Podoleo Street in New Providence. He is described as having a dark brown complexion; 5 tall and weighing about 160 lbs with a medium build. The Central Detective Unit warns that Burrows is considered armed and dangerous. Anyone with any information concerning Burrows whereabouts should immediately contact police by calling 919 or 911; the Central Detective Unit by calling 502-9930/9991; the Police Control Room on 322-3333; Crime Stoppers on 3288477; or contact the nearest police station. PUBLIC ASKED T O HELP LOCATE MAN WANTED FOR QUESTIONING RANDONBURROWS MINISTER of Labour Dion Foulkes said he was amazed by comments made by Perry Christie, leader of the opposition, about the governments initiative to support laid-off workers in Grand Bahama. He said: I would have thought that the opposition would have supported this initiative and commended the various agencies and departments participating including the private sector who came forward. Whenever you are terminated or dismissed, it is a very traumatic experience in a persons life. It is at that time that they need support and a helping hand. Employees To come out and to criticise what we did, I thought it was an insult to Grand Bahamas and especially to the former employees of Our Lucaya, said Mr Foulkes. He said the government found out about the layoffs just over a week ago. He said the matter was discussed in a Cabinet meeting that same morning, and the government came up with a plan. All of us agreed that we would not say anything publicly about it until the management had an opportunity to meet with the staff. That meeting was scheduled for Friday. We did not want staff members or family members of staff members finding out about this exercise through the House of Assembly or through a press release from the government. We thought that request wasa reasonable request, said Mr Foulkes. He said the government informed all of members of parliament from Grand Bahama, and instructed them not to say anything about it until the staff was first informed. He said the governments programme was approved last Thursday and assistance was rendered on Monday. I don't know what Mr Christie is talking about. But going on his past record I don't think he is in a position to criticise us in terms of our response. When hundreds of persons were laid-off at Royal Oasis here in Grand Bahama, the PLP did absolutely nothing to assist. Nothing. When we came to power in 2007 we had to complete the payment of severance pay to those workers. Millions of dollars we had to allocate in our budget millions of dollars, said Mr Foulkes. The Sea Hauler victims, when we came to power, we had to settle up with them. It was a ex-gracio payment. We were not forced to, but we thought that was the right thing to do. We thought that was the Christian thing to do and we gave those families $1 million. Criticism The CLICO employees, we have settled up with them, all of their legal entitlements. So I think that the criticism from the opposition, and in particular the leader of the opposition, is unfair and I think it is insensitive, especially when people are hurting, he said. Mr Foulkes noted that a delegation of PLP members went to Grand Bahama on Monday. He claimed they met only with the management of Our Lucaya. They did not take the time out to come down to the centre and meet with the workers who were fired. They didn't take a minute to stop there and meet the people. And they flew right back to Nassau. Zhivargo Laing, along with four other FNM parliamentarians, spent hours there, said Mr Foulkes. Minister amazed by Christies comments on laid-off workers initiative By NOELLE NICOLLS Tribune Staff Reporter nnicolls@tribunemedia.net VENDORS on Cabbage Beach say a lack of bathroom facilities on the beach is giving the country bad publicity and creating health con cerns. They claim most of the hundreds of tourists who use the Paradise Island beach on a daily basis are cruise ship passengers, who are forced to use the bush as a bathroom. Atlantis and RIU facilities are for guests only, they say, and bathrooms at the Sunrise Beach Club are limited to people who patronise the beach bar. It is am embarrassment. People always ask us where they can find the bathroom. You have no response, said one vendor. However, a spokesperson for Atlantis denied that only guests of the resort have access to its bathrooms. He said: Vendors and non-hotel guests on the eastern end of our property have access to the Cave Bar and Grill bathrooms and vendors and non-hotel guests on the western end of our prop erty have access to the bathroom facilities at the Lagoon Bar and Grill. Vendors are aware of this as they use our restroom facilities on a daily basis, as do cruise ship and non-hotel guests. Vendors say they wanted the bushy piece of vacant land near the RIU to be turned into a green space with public bathrooms. They claim a plan to use porta-potties was blocked because of the difficulty in creating access for persons to service the units. The Ministry of Tourism and Aviation (MOTA braiders, coconut vendors, those who rent out lounge chairs, massage therapists to operate on the beach. One operator said the peak day is Saturday, when 300-plus visitors use the beach. Vincent Vanderpool-Wallace, Minister of Tourism, said he is certainly aware of the con cern. He said there is no doubt the issue needs to be addressed as a priority, but added it would involve much more than just putting toilets on the beach. It is a subject of much discussion. We wish there was a simple resolution, said Mr Vander pool-Wallace, citing property rights as one of the main obstacles. When asked for comment on the issue, Ministry of Environment officials pointed out that the beach is not public, so the government is not responsible for managing the beach or providing public bathroom facilities. According to an informed Tribune source, legally speaking, members of the public have a limited right to traverse the coast up to the high water mark, but this does not mean all beaches are public despite the widespread popular belief to the contrary. Beaches are public only when they sit on Crown Land. Private land owners are not obligated to provide beach access for the public. The source said the public cannot have access to all beaches without a change in the law. With respect to Cabbage Beach, he said, vendors, visitors and members of the public dont have a right to it, even though there is an arrangement between Atlantis, the MOTA, ven dors, and the public. A vendor said: We have been given permis sion by the Ministry of Tourism. (The hotels can't kick us off the beach, but they can give us a very difficult time. The tide can be very volatile, so sometimes people have to encroach on hotel property by putting their lounge chairs there. Even though the area is not being utilised, in the past they have had their security take away everything we had on the beach. They can make it difficult for you, because they can always con fiscate your stuff. It is a serious balance we have to weigh. In the meantime, the guests are being affected aversely in that regard, he said. Mr Vanderpool-Wallace said FNM governments have negotiated unprecedented beach access for the public, with a comprehensive sys tem of signs designating public access areas. He said the government received a fight in some instances from private land owners, so it had the difficult task of balancing interests. He said the government is also mindful of capacity concerns. We have a situation right now on public holidays where there are certain beaches that reach capacity level. We have to as a government, decide what is going to be the maximum use of any private or public space, he said. Vendors say lack of Cabbage Beach bathrooms creating health concerns MINISTER OF LABOUR Dion Foulkes PLPLEADER Perry Christie A WHOPPING 1 5-pound crawfish (spiny lobster) was caught by fishermen and brought to The Tribune this week. Lllewelyn Fox proudly d isplays the lobster, which he said his son purc hased on Potters Cay dock. P HOTO/ R ONNIE ARCHER MONSTER CRAWFISH

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PAUL G TURNQUEST bune Staff Reporter rnquest@tribunemedia.net W I TH c ivi l unr es t b r e wing t h e T u r k s a n d C a i c o s a n d s P L P M P F r e d c he ll c a lled on the B ritis h ern m ent to restore parlian tar y d emocr acy an d b rin g en d i t s t w o y e a r s t i n t i n ec t cont rol of that na tion. o r the pa st f ew da ys prot e r s i n t h e T u r k s a n d i c o s h a v e t a k e n t o t h e ee t s de m anding a n e n d t o a dministra tion hea d e d by B r i t is h g ov e r n or wh i c h s b e e n i n p l a c e s i n c e gus t 2 00 9 Th e i s l a n d s a r e a B r i t i s h ers e a s Te r r it or y a nd t he K g o v e r n m e n t d i s b a n d e d loc a l ly e le c t e d a dm i n is i on a n d su s p e n de d its le gt u r e a f te r a C om m is s io n In quir y found w ides pre a d r uption unde r the a dminat io n of t he i s la n ds f or r Pre m ier Mic hae l Misic k. N o ti ng th a t t he PL P has fo r m e tim e bee n is suin g sta ten t s o n t h i s m a t t e r M r c hell reiter ated his party's i t ion th a t the Britis h we re o n g in takin g awa y d e mocy in the T u r ks and Ca icos I t is no t an issue wh ic h we u g h t would g o a wa y g ive n d i s q u i e t o n b o t h s i d e s ou t w h a t t h e B r i t i s h h a s n e. A nd the l o ng e r it goe s t he mor e the re is g o i ng t o in t e rna l pre s sure pa rt icuy g iv e n the s uspe nsion of m e of the rules of j ustic e as el a te s t o t he off enc e s the y in v e s t i g a t i n g a n d m o r e p or ta ntly the fa ct that the t i s h ca nnot s a y whe n the y re stor e dem oc ra cy T hose w ho ha ve tal k e d to r om th e Turks and Caic o s n d s we h a v e sa id to t h e m t it is im port ant for the m ge t t og e th e r a n d t o p uby d e m ons t r a te t he ir c onn abo ut th e fact th at d irect e sti ll e xists a n d there is no m e t a b l e f o r a r e t u r n t o m o c r a c y A n d s o w e a r e s urprise d. A ll th a t we sa y t i t s h o u l d b e p e a c e f u l y s h ould c o ntinue to w o r k t r y t o g e t d e m o c r a c y t o r e d a n d w e u r g e t h e ti s h t o r e s t o r e d e m o c r a he sa id. M r Mi tc he l l a dd e d tha t it o f pa r a m oun t im po rt a nc e t the pe op l e of the Turks d Ca ic os re m ain unite d in s tru g gle, as a "on e-sid ed" t e s t w i l l no t g e t t he j o b n e The p e ople of t he Tur ks d C a i c o s I s l a n d s h a v e t o m o n s t r a t e t o g e t h e r t h a t y a re c o ncerned abo ut th is u e T h e r e i s t h e C A R I M meet i n g w h i ch j u s t to o k ce or is com ing up, a nd I en 't seen th e resu lts o f th e e t in g ; t h e i nt e r s e s s i o na l t t oo k pl a c e I t hi nk our p uty pr ime m inis te r w ent d I w a s hoping t hat a t t hat t i m e t h e p a r t i e s f r o m t h e T u r k s a n d C a i c o s I s l a n d s would ha v e both g one to the m e e t i n g a n d m a d e s o m e at te mpt to hav e C A RI CO M i s s u e e v e n s t r o n g e r s t a t e me nts wit h re g ar d to this A nd w e ha ve under ta ke n with t he pa r tie s i n the Turks a n d C a i c o s I s l a n d s t o d o wha te ve r we c a n to as sis t i n try ing to g e t t h e m in c onta ct w i th o t h er go ver n men ts i n th e Ca ribbe a n, and a ls o the g overn m en t h e re i n the B a h a mas to tr y a n d pu t som e a dd it io nal pr es sur e on the Br itis h t o re solv e this iss ue ," he s ai d. NOELLE NICOLLS bune Staff Reporter colls@tribunemedia.net T HE Poli ce Staf fe rs A ss ocio n has as ked for an apol ogy m Fr ed Mi t ch el l op pos i t i on k es man on t h e pu bl ic sere f o r w ha t t h e y b e l i e v e w e r e p a r a g i ng c o m m e n t s h e m a d e u t t he S ec u r it y and I n t ell ic e B ranch. Dwig h t S m ith P S A p r e si t said equati n g the invest i ve pr oces s of SIB of fi cer s in g v e tti n g o f p u b lic s e r t s t o "g oss i p a nd t ri v i a" i s a agai ns t t he i nte gri ty of t he c e W e wi sh not for an y gov m en t or po l i t i c al o ppo s i t i on u s e t he poli ce as a t ool f or i t ical a gen das Sup er int en t R o be r t Y ou n g, w h o he a d s B is doi ng a wonderf u l j o b. e n you m ake a bol d s taten t s peaking t o thei r i nteg ri y ou destr o y the m o r ale o f e n t i r e t e a m s a i d M r i t h. E a r l i e r t h i s w e e k M r tc h e l l c a u t i o n e d a g a i n s t ng SI B rep o rts a s th e pr i r y b asis for d ecision mak H e s ai d t he c omm on pr acwas f or SIB reports to be e vated in the minds of the e auc racy t o t o o high a levT he PSA sa id i t is not t ryi ng t o be a t u p on a n y o n e w h e t h e r g o v e r nm en t o r t he o p po s i t i o n ", bu t it ha s a re sp o n s ib ilit y to a d d r e ss c o n c e rn in g i s s u e s t h at are "d i rect a nd p ersona l w it h the p ol ic e", and s peak to w ork cond i ti ons an d moral e. He sai d publi c servant s are of ten the i nnocent byst and er s i n pol it ical squabb l es. Mr Smi th cl aime d r an k and f i l e of f ic er s f rom t he SI B cam e to th e ass o cia tio n to e xp re ss t h e i r d i s c o n t e n t w i t h M r Mi tc h el l 's comm en t s. H e s t r e s s e d t h a t h e w a s s peaki ng on behal f of t he PSA a n d n o t t h e P o li c e F o r c e o r S I B M r S m i t h s a id h e a n d M r Y o ung di d not di s c us s t he m a t t er. "We have a gr ave di ffi cul ty w ith what is being sai d No w we h a v e t o g o a n d mo ti v a te o ff i c er s at SI B w ho a re doi ng a w onderful j ob. T here must be an apo l o gy given to the hard wo r k in g me n a n d wo me n a t t he R BPF," sai d Mr Smi th. H e s a i d th e p o l i c e r u n a n in fo rm ati on ba s ed o p e ra tio n t h a t r e l i e s o n c o o p e r a t i o n f r o m t he pu bl i c a nd an y a c t i on tha t u nfa irly cre ate s c on ce rn abo ut the comp eten cy o f the p o li c e o n l y s e rv e s t o u n d e rm ine the force. W h e n c o n t a c t e d f o r c o m m en t, S IB he ad O f fi c er Yo ung s ai d he doesn' t t hink a ny act ual d ama ge ha s b een d on e b y Mr Mi tc h el l 's comm en t s. H e a d d e d : N o v e t t i n g pr ocess is based on hears ay or g o s s i p Y ou c a n no t m a l i g n p e o p le 's cha rac te r or i mpe de t hei r jo b p r o g r e s s o n t h e b a s is o f gos sip. W e w ou l d n ot oper ate on that f ashion. "A l l of t he r epo rt s ar e con f i de nti al Whate ver i nf orm ati on w e get we veri fy t hat i nform at i o n H e s a id a n y f u r t h e r c o m m ent w oul d ha ve t o be s ough t f r o m t h e C o m m i s s i o n e r o f P o l i c e R e s p o n d i n g t o t h e S t a f f As s o c ia t io n y e st e rd a y a ft e rnoon, Mr Mit chell sai d: "Any and all of the com ments made by me at an y ti me are d i rec ted at po l it ic ians and po l ic ies and n o t a t p u b l i c s e r v a n t s T h e c om m e nt s a r e a b o u t p u bl i c po l i c y. T h a t s ho u l d be c r y s t a l c l e a r f r o m t h e c o n t e n t a nd c o n t e x t o f t he r emarks. "T he pol i ce as a di sc ipl i ned f or ce ar e t o be neut ral in t hei r r e s p o n s e s a n d r e a c t i o n s t o t h e s e m a t t e r s T h a t i s i n t h e v e r y n atur e of a d is ci pl ine d for ce. "I e xp ect th at the Sec urity a nd I nte ll i genc e B ran ch of t he R o yal Bah amas P olice Fo rce wi l l c onti nue t o conduc t t hem s elv es in the sa me p olitic ally neutr al and above board f as hion as t hei r t rai ni ng di ct at es, he sai d. P o l i c e o f f i c e r s d o n o t d a b b l e in pol i t i ca l m at t er s. As a pol i t i ci an, I have t ri ed s cr upul ousl y t o a v oi d a t i t f o r t a t w i t h p ub l i c ser vant s, w ho mus t ser ve PPS, F NMs an d i n bet weens. T hat is the na t u re of t h eir job s, to se r v e a l l w i t h ou t f e a r o r f a vo ur I do not i nt end t o s ta rt now. LOCAL NEWS HE TRIBUNE FRIDA Y MARCH 1 1, 201 1, P AGE L AWRE NCE Har ri son al ias L awren c e A mbr is ter al ias Ver nal Ambr is ter 4 o f Sand ilands Vil lage Roa was arr aigned in Cour t 11 yes ter day, char ged with m aking deat h th reat s. I t is alleged t hat he mad t he th reat s t o Shas hun a Ru ss ell on Tu esday, Mar c 1 I t is fur th er all eged tha h e ass ault ed Shas hun a Ru s ell wit h a han dgun. Har ris on, w h o was ar r aigned bef or e Magis tr a S ubu S w ain pleaded not gu ilty t o bo th char ges. He was grant ed $1,000 b ail on the t hreat s o f deat an d $3,000 bail on t he as s ault char ge. T he case has been ad jour ned t o Au gust 22, 2 0 1 1 Man arraigned i c o u r t o n c h a r g of death threats cour t NEWS P o l i c e S t a f f e r s A s s o c i a t i o n a s k s M i t c h e l l f o r a p o l o g y M i t c h e l l c a l l s o n U K g o v t t o r e s t o r e p a r l i a m e n t a r y d e m o c r a c y i n T u r k s & C a i c o s DESTR OY IN G MOR A L E: P o l i ce S taff ers A ssoci ati o n p r esident Dwi ght Sm i th hel d a p res s co nfe re nce t o a sk f or an ap ol ogy f r om P LP M P F r e d Mit ch el l Ronnie A rcher / P h o t o

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E DITOR, The Tribune. T odays article by Rick Lowe (limit taxation and spending) contains many current observations about the current tax regime and the proposed alternative val-u e added tax (VAT H owever, Lowe and the Nassau Institute like the commentators he criticises fail to recognise the different impact taxes have on the three factors of production namely land (free gifts of nature), labour (human exertion in the production of wealth) and capital ( wealth used to make more w ealth). Left wing propos als call for society to take most of the wealth created, making no distinction b etween the income from l and, labour or capital and leaving only a small portion of wealth to individuals. In most cases this also entails a large measure of control by society over individuals, a planned economy and lack of individual freedom. Right wing proposals (reflect tax wealth should remain in pri vate hands but also makes no distinction between land, labour and capital. Government should get the minimum it needs for necessary services and leave the run ning of the economy to private interests. A mixed economy seeks to distribute wealth and power between individuals and society but does not make a distinction between earned and unearned incomes nor does it define the proper roles of society and the individual. The result is usually a hodgepodge. The American economist Henry George does make a d istinction between the u nearned income from land (nature incomes of labour and capital. No one created nature ( beaches, reefs, fresh water e tc) but the presence and activity of society creates location value. A just society would capture the location value for society and let the wealth created by labour and capital remain in the hands of these that earned it. The Geologist proposal achieves the goal of left wingers for security and social action but without restrictions on liberty. It achieves the goal of right wingers to attain freedom but without privilege and monopoly. This tax shift would remove the unearned income from natural resource speculation, slow urban sprawl, reduce pollution and pay for infrastructure that helped create land values in the first place. All this would happen without stifling incentive and pro ductivity. JOHN FISHER Nassau, February 21, 2011. EDITOR, The Tribune. I wonder what it is going to take for we the people of thisn ation to migrate from the valley of blame to the highh ills of responsibility for ourselves and for improving the c ulture of this country. Culture is more than annual festivals, traditions, music, crafts or native dishes. Cul-t ure also embodies we the p eople of this nation; our t houghts, attitudes, beliefs, confidence, the point of our social compass, the quality of our language and the way we behave. It appears that we h ave become so wrapped up in our supposed rights that we are either unaware or simplyc hoose to ignore that our r ights also come with an i nherent social responsibility. T his critical aspect of our evolution remains undeveloped,r ather than taking responsibility for ourselves, we are m ore easily led to fight for rights based on the fallacy that someone else is theb lame for our laid-back perceptions. The daily servings of prog rammes that happily remind us of our issues, problems or t he basic lack of social order only highlights our point of f ocus. That we are a pess imistic people, who are much more comfortable, looking for what, is wrong, rather than l ooking to resolve. This bleak p erception shows our lack of preparation for change, lack of critical thinking, gratituded eficiency and a severe shortage of ideas. We cannot find solutions if w e are only focused on the p roblems. The acceptance of personal responsibility is what separates the adult from the c hild. We owe it to our children to put away childish things. Ifw e are sincerely interested in s upposedly saving the future for our children, we should begin with the thousands of children who are here right now. Why arent we teaching t hem the audacity of change or the power of personal responsibility? This thoughtpattern would build their confidence to choose their own future, long after we are gone. The need for us to migrate t owards a culture of responsibility is an appeal from the spirit of this Bahama Land.W hose moral fiber cringes every time we utter a complaint or point to a problem without voicing a solution. Itsm essage is clear. It reminds us that it has already given us this land; it has provided unlimited resources and bestowed inborn talents uponu s. The question we must ask o urselves is what have we given in return to this land? W hat ideas have we produced, created or brought forth to inspire our children or to change the world? Thisl and is pleading that we do n ot sell our children on the s mall ideals of problems and challenges. Instead, it beseeches us to inspire them to accept that they embody great ideas and the courage t o take responsibility for working the land and building this nation. W e all know that the only w ay to get up the hill is to c limb. For us to evolve as a p eople and advance this nation we must elevate ourt hinking, climb out of the valley of blame and cultivate a n ew culture of responsibility. Our Bahama land is dehydrated and in urgent need of ap ositive, healthier perception. And the spirit of this land insists that we all quench itst hirst by heeding this call to migrate forward, upward, o nward together. People, its time to move! M ICHELLE M MILLER Nassau, March 7, 2011. E DITORIAL/LETTERS TO THE EDITOR P AGE 4, FRIDAY, MARCH 11, 2011 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. Publisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama T ELEPHONES Switchboard (News, Circulation and Advertising) 322-1986 WEBSITE w ww.tribune242.com updated daily at 2pm GROZNY, Russia The cars pull up in broad daylight. Security forces point guns a t terrified women and shoot. It turns out they're paintball pellets, but still harsh puni shment in Chechnya for leaving home without a headscarf. Chechnya's strongman Ramzan Kadyrov has imposed an Islamic dress code on women, and his feared security forces have used paintball guns, threats and insults against those refusing to obey. In a 40-page r eport released Thursday, Human Rights Watch condemned the campaign as a flagrant violation of women's rights and urged other nations to raise the issue with Moscow. "The enforcement of a compulsory Islamic dress code on women in Chechnya violates their rights to private life, personal autonomy, freedom of expression, and freedom of religion, thought, and conscience," the report s aid. "It is also a form of gender-based discrimination prohibited under international treaties to which Russia is a party." Kadyrov rules with the support of Prime Minister Vladimir Putin, who has counted on him to stabilize the mostly Muslim region in southern Russia after two separatist wars in the last 16 years. Russian authorities have turned a blind eye to the treatment ofw omen and other rights abuses in Chech nya. Human Rights Watch interviewed dozens of women who have experienced or witnessed attacks or harassment for their refusal to adhere to the Islamic dress code. One of the victims, identified as Louiza, told the rights group that she and a friend were attacked while walking down PutinA venue in Grozny on a hot day last June, wearing skirts a little below the knee, blouses with sleeves a bit above the elbow and no headscarves. Suddenly a car without a licence plate pulled up, its side window rolled down and a gun barrel pointed at them. "I thought the gun was real and when I heard the shots I thought: 'This is death,'" she recalled in the report. "I felt somethingh itting me in the chest and was sort of thrown against the wall of a building. "The sting was awful, as if my breasts were being pierced with a red-hot needle, but I wasn't fainting or anything and suddenly noticed some strange green splattering on the wall and this huge green stain was also expanding on my blouse." The 25-year-old woman said her friend was hit on her legs and stumbled to the ground. Men dressed in the black uniform of Kadyrov's security forces looked out of the car's windows, laughing and sneering. "It's only at home that I could examine the bruise and it was so huge and ugly," L ouiza recalled. "Since then, I don't dare leave home without a headscarf." A nother target, a 29-year-old woman whose name was not given, said she was walking down the same central avenue in June with two other women, all without headscarves, when two cars stopped nearby and bearded men in black uniforms fired paintball guns at them, screaming: "Cover y our hair, harlots!" The woman told Human Rights Watch that she knows 12 women who were shot at with paintball guns in June. Overall, at least 50 or 60 women were targeted, the rights group said. Threatening leaflets also appeared on the streets of Grozny, warning women that those who fail to wear head scarves could face "more persuasive meas ures." The women interviewed by Human Rights Watch interpreted that as a threat to use real weapons. Kadyrov's security force has been blamed by rights activists for abductions, torture and extrajudicial killings in Chechnya. In July 2009, the director of the Chechen office of Russia's Memorial rights group, was abducted near her home in Grozny andf ound shot to death along a roadside a few hours later. Natalya Estemirova had pub licly criticized the Islamic dress campaign as a violation of Russian law, angering Kadyrov who had threatened her with repercussions. A few weeks after the paintball shootings, Kadyrov told local television that he was ready to give awards to the men who carriedo ut the attacks and that the targeted women deserved the treatment. There was no response from the federal authorities. The paintball attacks ended in mid-June, having achieving Kadyrov's objective. The majority of women are now too scared to enter the centre of Grozny without head scarves or dare to complain against the "virtue campaign." A t Chechen State University in Grozny this week, all females students wore headscarves and, toeing the official line, defended the practice as part of local tradition and a sign of respect for Islam. "The headscarf is part of our religion, part of our faith," said Seda Sabarova, 18. Kadyrov also scoffed at criticism of his effort to enforce an Islamic dress code, telling foreign reporters that headscarves make women beautiful. (This article was written by VladimirI Isachenkov of the Associated Press). Migrating from a culture of blame to responsibility LETTERS l etters@tribunemedia.net Women abused if refuse to cover head Looking at the tax regime EDITOR, The Tribune. LAST night, the 4th of March, at 1.30am my power went off. I thought it might just be the usual power failure but no, it was just our house. I called the BEC power failure number and got a very polite and professional lady to answer. She took my info and said shed have a truck there ASAP. True to her words a truck was there within 10 minutes. I went out onto the road to make sure the guys knew it was my house that was without power. They also were very polite and professional. My power was restored soon after the truck arrived. A few minutes after the power was restored, the phone rang and to my surprise it was the lady from BEC calling me back to make sure my power was back on. Most of the time people have bad things to say about BEC, so I want to say Thank You to the BEC staff that helped me, for their quick and professional response. I wish I had asked for her name so I could thank her. AMANDA MEYERS Nassau, March 4, 2011. Thank you to helpful BEC staff

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By LAMECH JOHNSON COLLEGE of the Bahamas students participated in a career and job fair yesterday, where they were they learned about what opportunities await them in the public and private sector. Norma Turnquest, co-ordinator of the fair, described it as a networking event for both students and businesses. The purpose of the event is to bring the students and businesses together, she said. Ms Turnquest believes the students will benefit from learning about the different careers available to them based on their field of study. She was pleased with the turn-out from students and businesses. We have 33 companies represented so we are quite pleased with the numbers. And the students seem to be enjoying it too. She was unsure how many companies have already decided to hire some of the students they met with, though she added, some companies have already posted job recruitments on their websites. Some students spoke with The Tribune about what they learned and experienced at the fair. Kaynell Dames, an accounting major at COB, was impressed by the amount of information available. It was great. There were a lot of options for me in the accounting field and I learned about scholarship opportunities provided by KPMG. R Ellis Farrington III, a freshman at COB, said the event was dominated by business and finance companies. Im a freshman so its really an enhancing experience to have an event that open doors for us. T hey dont have stalls that present the law though. CIS majors like Ashaki Adderley found the fair to be very informative and said it made them aware of the different organisations out there. Representatives of the busin esses told T he Tribune t hey came to see the future crop of workers that would soon be leaving school. S elvin Basden, senior manager of human resources at the Bank of the Bahamas, said the bank is growing and were seeking new talent. He mentioned that the bank is currently hiring students on a part-time basis and that students f rom the Family Islands in particular will greatly benefit from this opportunity. We have branches in Inagua, E xuma and South Andros. Students from South Andros for example that want to go back home to work can do so because we have branches there in Mangrove Cay and Kemps Bay. Other private institutions such as ScotiaBank, First C aribbean Bank, RBC, Doctors Hospital, Deloitte and Touche a nd Burns House Ltd were also in attendance. Among the government agencies represented were the Central Bank of the Bahamas, BTC, the Water and Sewerage Corporation, the National InsuranceB oard, Bahamasair, the Defence Force, the Police Force. Officers from the Fire Branch were also there and brought their fire engine with them. They used a long grass track to give the students a taste of whata fire run is like. The fair was held at Independ ence Park on the colleges Thompson Boulevard campus. LOCAL NEWS T HE TRIBUNE FRIDAY, MARCH 11, 2011, PAGE 5 COB students learn about employment opportunities By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net A MAN who admitted to chopping his friend to death with a cutlass during an argument two years ago was sentenced to 13 years in prison yesterday. On Wednesday, Maitland Thompson, 28, pleaded guilty to manslaughter by provocation in the death of Customs Officer Collier Knowles, 33. Thompson was initially charged with murdering his friend, but accepted a plea deal. Knowles died in hospital on June 2, 2009 after being chopped about the body nine times, according to prosecutors. Thompson told the court yesterday: I am truly and deeply sorry. I really didnt mean to kill this man. I really tried to walk away. I just want the court to be lenient. Senior Justice Jon Isaacs noted that Thompson in seeking to defend himself from Knowles went beyond what was necessary and thus self-defence could not be his legal defence. The judge, however, also noted that Thompson had been provoked in his actions and that his case was not one in which the maximum penalty ought to be imposed. Given the injuries sustained by the deceased, it is clear you would have gone too far, Senior Justice Isaacs said. In his sentencing, he also took into consideration the two years Thompson has already spent in prison. Thompsons sentence is to commence from January 1, 2011. According to prosecutors, on June 1, 2009, Thompson, Knowles and several friends were at a bar in Pinewood Gar dens. An argument reportedly broke out and Knowles left the bar. The argument con tinued at Cottonwood Street, Pinewood Gardens, where friends intervened and separated the two men. According to prosecutors, Knowles was subsequently seen walking with a cutlass. The argument between the two men continued on Willow Tree Avenue and Saffron Street. There, Thompson reportedly wrestled the cutlass away from Knowles and chopped him nine times about the body. Knowles was reportedly chopped to the head, left eye, right shoulder, left calf, left hand, right thigh and right arm. His cause of death was listed as hemorrhagic shock as a result of blood loss from chop wounds. Thompson was later arrested at a local motel on Carmichael Road. Thompsons attorney Romona Sey mour submitted yesterday that her client was angry and drunk at the time of the incident. She told the court that Thompson was not aware of how many times he had chopped Knowles. According to Mrs Seymour, Thompson had thought he had chopped Knowles three times. She also asked the judge to take into consideration the fact that Thompson had pleaded guilty to the manslaughter charge and had been forthright with police from the start of their investigation. She further submitted that her client had told police that he did not intend to kill Knowles and that his death was an accident. She asked the court to take into consideration the fact that Thompsons actions were not premeditated and that he had been defending his life, but went too far. Ms Seymour told the court that Thompson, a father of two, had expressed remorse and asked that the court be as lenient as possible. MAN GETS 13 YEARS FOR CHOPPING FRIEND TO DEATH WITH CUTLASS COB STUDENTS pose with a fire engine at yesterdays career and job fair. Photo/ Ronnie Archer

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L OCAL NEWS P AGE 6, FRIDAY, MARCH 11, 2011 THE TRIBUNE By MATT MAURA Bahamas Information S ervices PUBLIC Health officials worldwide have been able to confirm an inextricable link between kidney disease andc ardiovascular disease, Mini ster of Health Dr Hubert Minnis said Wednesday. The Health Minister said local public health officials will join their international colleagues in further study-i ng the relationship between c hronic kidney disease as a major risk-factor for cardiovascular disease. The announcement came as the world celebrated W orld Kidney Day yesterday. A joint initiative of the International Society ofN ephrology and the International Federation of Kidney Foundations, World Kidney Day is used to further raise awareness of the importance of ones kidneys to their overall health. The day also aims to reduce the frequency and impact of kidney disease andi ts associated health probl ems worldwide; to encourage preventative behaviours among world citizens and to educate all medical professionals about the key rolest hey play in detecting and r educing the risks of chronic k idney disease, particularly in high risk populations. Risk Public health officials said there are seven golden rules persons can use tor educe their risk of developing kidney disease. Critical among those rules are to keep fit and active;k eep regular control of blood sugar levels; monitor blood pressure levels; eat healthya nd check kidney function if you have one or more of the high risk factors. Drinking water regularly is also important to maintaining healthy kidney function. Dr Minnis said a statement f rom the American Heart A ssociation confirmed that, cardiovascular disease begins to have an effect on the body as early as the first stage of kidney disease andm ost people with end-stage r enal failure die as a result of c ardiovascular complications. Chronic, non-communicable diseases such as diabetes and/or hypertension or highb lood pressure, contribute to r enal diseases. Both are prevalent in the Bahamas. Dr Minnis said research shows that intensive control of diabetes and highb lood pressure can prevent or delay the onset of kidney disease. Cognisant of these facts, the Government of theB ahamas has collaborated w ith the private healthcare sector in implementing the National Chronic Disease Prescription Drug Plan, Dr Minnis said. This Plan allows patients w ith a history of chronic conditions such as diabetes and hypertension to access their medications to aid compliance and preservation of kid-n ey function. Prevention It is vital that other strateg ies that make the most of our fiscal, capital and human resources be implemented and supported at the national level to ensure prevention,e arly detection and management of this debilitating and life-threatening condition, Dr Minnis added. T o help combat the problem and promote education and awareness, public healtho fficials in the Bahamas this week began celebrating Renal Awareness and Education Week. Several major a ctivities have been planned i ncluding a workshop on chronic kidney disease for public health nurses that has been endorsed by the Royal College of Nursing in Lon-d on; England; a public debate on kidney disease and a speech competition on thet opic How we maintain Kidn ey Health for high school students. Dr Minnis applauded offic ials at the Department of Public Health and the Public H ospitals Authority for their e fforts in raising public awareness. Patients and family members need to have a better understanding of how to pre-v ent kidney disease and how to manage existing conditions, he said. In addition, healthcare p rofessionals require more training to ensure early detection and appropriate mana gement. Health officials explore inextricable link between kidney and heart disease INEXTRICABLE LINK: H ealth Minister Dr Hubert Minnis By MATT MAURA Bahamas Information Services THE government of the Bahamas spends almost 15 million dollars annually to provide free dialysis treat m ent to 330 persons with kidney disease, health officials revealed. This figure does not include costs associated with medications and/or hospital stays as a result of associat e d complications. Dialysis treatment is predominantly used to manage kidney disease in the Bahamas and costs $45,000 per p atient per year. Recent data confirms that there are more than 330 persons in the Bahamas receiving free dialysis treatment as a result of kidney disease. Thet otal cost to treat those persons is $14,850,000. P ublic Health officials said the 330 figure does not include persons who are unknown to nephrology ser vices for whatever reason. They said the number of p ersons with kidney problems is likely to increase as more and more Bahamians become more at-risk for the disease due to the high prevalence of chronic, non-com m unicable diseases such as diabetes and hypertension two leading causes for kidney disease in the Bahamas. Chronic, non-communicable diseases such as diabetes and hypertension or high blood pressure can be pre v ented through proper diet and exercise. Minister of Health Dr Hubert Minnis said while the Government has implemented and will continue to implement new strategies to help battle kidney disease and reduce the heavy costs associated with the treat ment and management of the disease, the onus is on every single Bahamian, particularly those at-risk per sons to ensure that they adopt healthy lifestyles to prevent life threatening illnesses such as kidney dis-e ase. Dr Minnis said research has shown that intensive control of diabetes and high blood pressure can prevent the onset of kidney disease. Simple choices like eating a balanced diet, engaging in regular exercise and having an annual physical exam ination are all necessary to help prevent the disease, Dr Minnis said. It is also necessary for individuals who fall within high-risk groups for renal disease to get tested for the disease in order to facilitate early detection and prompt treatment and monitoring, Dr Minnis added. The Health Minister said conditions such as diabetes and hypertension have contributed to a rise in renal diseases in the Bahamas. The two are prevalent among Bahamians. He said public health officials have launched a series of education and awareness programmes designed to educate members of the public on the implications of the incidence of chronic kidney disease in the country and to ensure that the disease may be prevented, where possible, or to ensure early detection, timely referraland safe and effective client care. As knowledge and understanding of the causes of kidney failure increases, so does the ability to predictand prevent kidney disease increases, Dr Minnis added. Government spends $15 million annually on dialysis treatment ADJUDICATIONS for the E Clement Bethel National Arts Festival continued in Freeport this week, drawing students from the islands schools who showed off theirm usical talents. It was the second week of Grand Bahama a djudications which are now coming to a close. T ALENTED STUDENTS TAKE TO THE STAGE FOR ADJUDICATIONS ERIC ROSE/BIS ABOVE: Liam Brown of the Lucaya International School plays the trumpet during the adjudications in Freeport, Grand Bahama, for the E Clement Bethel National Arts Festival. TOP: An ensemble from St Paul's Methodist College plays the jazz piece "Santa Baby" during the adjudications in Freeport. LEFT: Walter Parker Primary School student Lincoln Alleyne beats out a solo in the Best Drummer category during the adjudications in Freeport, Grand Bahama for the E Clement Bethel National Arts Festival. Share your news The T ribune wants to hear from people who are making news in their neighbourhoods. Perhaps you ar e raising funds for a good cause, campaigning for impr ovements in the area or have won an award. If so, call us on 322-1986 and shar e your stor y

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By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net A GR OU P of bonefis hing gu i d es s ee k i n g t o p r o t ec t a v it al fis hing g r ound in South Aba c o is c a ll ing on the g ove rn m e nt t o ta k e a cti on be fo re de velopers m ove in. T h e A b a c o F l y F i s h i n g G u id e Asso cia ti on (A FF GA ) h a s p rop os ed t he g o ve rn me n t d ec la r e a r o und 1 ,80 0 a c res of C r o w n L a n d c o a s t l i n e a n d w e t l a n d s s t r e t c h i n g f r o m Cross Ha rbou r to Bla ckwoo d P o i n t a n o b u i l d z o n e a s i t supports a 1 ,000 hectar e wetla nd area, local fis hi ng industries and the luc rative c a t cha nd-rele ase s p ort le d by lo c a l fly-fis hing guides. A F F G A p r e s i d e n t P a u l P i n d e r s e n t a l e t t e r t o t h e P r i m e M i n i s t e r s O f f i c e i n Oc t o b er 2 00 9, w o n s u p po r t f ro m th e Mi n i st ry o f th e En v i r on me n t a nd s u bm it t e d t h e propos a l t o t he Depart m ent of P hy s ical Planning in April la s t yea r T he ass oc iati on maint ains they w ere asked to resubmit th ei r a pp li c at io n m or e t han o n ce bo t h i n p r in t a n d o n l i ne a n d y e t h a v e h e a r d n o r e s p o n s e f r o m t h e g o v e r n m ent depart m ent. Direc tor of P hy s ical Planning Mic ha el Major said t he a pp lica tion cam e to hi s a tten ti on o n W edne sd ay, f ol low in g c a ll s f r om Th e T r i bu ne and he w il l now ini ti ate th e proc ess of c r e ati ng a z oning o r d e r "Mo s t of the time whe n w e g e t re qu ests lik e tha t the y are le gi ti m at e an d r e as o na bl e, Mr Major said. A r evi e w o f t he pr o po s al will be completed next wee k, he s aid. T h e d e t a i l s w i l l t h e n b e p u b l i c i s e d gi v i n g p e o p l e a ch a n ce to re sp on d, an d t he n a draft pr o pos al will be drawn up and sent to the Attor ney Gener al' s o ff ic e f or v ett ing, befor e go ing to the C abinet for fi na l appr ov al in around two months When asked w hy the proposal h ad taken mor e than a y e a r t o c r o s s h i s d e s k M r Ma jo r s ai d: "I c an t s a y i t' s take n a yea r bec ause I don't recall it but especially thes e ma t t e r s t h at ar e n o t ( p l a n n ing ) ap plica tions as su c h a r e not c ons id ered a t op pr ior it y T he p res sur e to deal w ith de velopmen t pla ns take s prio r i t y i n t h e De p a r t me n t o f Physic al Planning M r Major sa id as mu lt i -m il li on do ll ar pr oj ec t s i nv ol vin g la ndo w ne rs, b ank s, con tr a ctors, a rc h itects a nd deve l op er s take up staff t ime A nd it i s p re ci se l y t hi s pr e ssu re which AF FG A f ea rs wil l le ad to encr oachment on t he va l u a b l e w e t l a n d s t h ey a r e seeking t o protect "We hope the gov er nm ent will a gr e e this prist ine area is far t oo important to the people o f Ab ac o t o s ac ri fi c e to future local or for e ign dev elo pe rs as it is p rese ntly o f e c o n o m i c v a l u e w i t h o u t b e i n g de veloped," M r Pinder s aid. S tu di es o f t he ar ea f ac i l it a t e d b y l o c a l n o n p r o f i t or ga ni s a t i o n F r i e nd s o f t h e E n v i r o n m e n t h a v e d o c u m ented more t ha n 50 s pecies o f f i s h i n t h e c r e e k a n d p r ov e n t h e l i nk be t we e n m a n g r ove and oc e anic ha bit a t s. D r C r a i g L a y m a n w h o sp ea rhe ade d the F r i en ds p roj ect sa id: It is one of th e first s tu di e s a n y wh er e i n th e wo rl d t h a t h a v e d i r e c t l y d e m o n s t r a t e d t h e c o n n e c t i o n b e t w e e n m a n g r o v e a n d oceanic habitats t h r ough t he m oveme nt s of f ishes. A d d i t i o n a l l y i t d i r e c t l y dem on s tr a te s t h e r ap id and c o n c r e t e i m p a c t s t h e c r e ek restor ation project s can have on mari ne f isheries. A s s u c h i t i s e s p e c i a l l y cr iti ca l to p rot e ct t hi s w et la n d a r ea a s it may be a p rimar y nu r ser y ar e a f or all of southe r n Aba c o." Fri e nds unde r took a major cre ek restora tion pro gram me in Cr os s Har bour f ive ye ar s a go w ith t he he l p of around 300 local people a nd s choolc h i l d r e n T h e o r g a n i s a t i o n t he n in it iat ed a f i sh tag gin g pro g ra mm e wit h lo ca l scho o ls w hi c h d oc u me nt ed t w ic e as many s pe c ies upstr e am t ha n b e f o r e t he y h a d c o m p l et ed t he w ork. N o w F l o r i d a b a s e d n o n p r of i t t h e B o ne f i s h T a r p on T rus t is undertaking a bonef i s h i n g t a g g i n g p r o g r a m m e a n d i s e x p e c t e d t o c e m e n t i mpo rt ant dat a abou t bo nef ish a nd the wider ecology of t h e a r e a i n t h e c o m i n g m o n t h s A F F G A w a n t s t o en s u r e t he ric h biodive r sity supporti ng suc h s cientif ic studies as wel l a s t he fly fis hi ng in du stry a nd lo c a l fi s he r i e s i s p ro t e ct e d as members fear developer s of re sorts a nd ma rina s will be a t t r a c t e d t o t h e ar e a b y i t s ac ces s to deep water. Mr Pi nder 's wi fe, f ly-f is hi ng guide C indy Pinder, said: "W e are just tr ying to do this t o p ro te c t a ver y go od a rea f or the fis heries, and for t h e people of Abac o ." W e d o n t n e e d a n o t h e r u n d e r u t i l i s e d m a r i n a i n A b a c o W e n e ed t o p r o t e c t t h i s la n d fo r t he f ut u re o f Ba h a m i ans I t doesn't need to be in the ha nds of fo reig n dev elo pe r s Ab ac o' s fl yfi s hi ng i nd us t ry dr aws an e s timated annual inc om e of around $4 mill i on an d c on tr i bu t es t o t he $140 mill ion as soc iated w ith c a t c h a n d r e l e a s e f i s h i n g t ouris m ac ross the count ry. LOCAL NEWS THE TRIBUNE FRIDA Y MARCH 1 1, 201 1, P AGE 7 A F FG A cal ls on g ovt to decl are n o-bui l d z one' i n S A baco NICE CATCH: AFFGA president and fly-fishing guide Paul Pinder holds a bonefish he caught in Cross Harbour. G r o u p w a n t s 1 8 0 0 a c r e s o f Cr o w n L a n d t o b e o f f l i mi t s t o d ev e l o p e r s

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L OCAL NEWS P AGE 8, FRIDAY, MARCH 11, 2011 THE TRIBUNE THE BAHAMAS will receive more than $5 million in US assistance over the next five years to support the countrys fight a gainst HIV and AIDS. The financial assistance is part of US President Barack Obamas Emergency Plan for AIDS Relief (PEPFAR ment. US Ambassador to the Bahamas Nicole Avant will d iscuss the PEPFAR agreement when she opens the US Caribbean Regional HIV/AIDS Partnership Framework (PEPFAR Summit this coming Tuesday at the Sheraton Nassau Beach Hotel. Minister of Health Dr H ubert Minnis will also provide opening remarks. The three-day summit is expected to attract 80 participants from throughout the region to discuss and share strategies on HIV/AIDS awareness andp revention. This year alone, through PEPFAR, the US government has committed more than $1.6 million in assistance to the Bahamas in the areas of prevention, strategic information, laboratory strengthening, and h uman capacity development. The Ambassador will also announce a call for small grants proposals for the 2011 Ambassador Fund for Prevention. Community based organisations, non-government organisations, faithbased organisations, government ministries, businesses, clubs, schools, and individuals will be invited to submit proposals for one-time grant up to $10,000 for projects that promote HIV/AIDS awareness. The deadline is April 29, 2011. BAHAMAS TO GET $5M FROM US FOR HIV/AIDSFIGHT b ut were there advancing political g roups. We saw so many things that were going on. I, for one, wondered if wew ere dealing with a BTC situation or if we were dealing with a political situation. For the life of me I could not understand what was going on. I saw, along with other executive members, as we gone through the downtown area, persons walking a round with political photos of indiv iduals. T he demonstration was said to have been organised by the Committee to Save BTC, but Progressive Liberal Party (PLP made a strong appearance. Many of t heir members were dressed in yell ow political garb. A group of Brave D avis supporters also carried lifes ized Be Brave posters. They were d ressed in custom-made designer unity shirts. Mr Smith said downtown merchants called left, right and cen-t re to complain about a group of young protesters who were dropped off in the George Street area. As they walked to the protest, merc hants claimed they stopped in store after store causing a disturbance. I walked there personally and saw them. I knew some of them and talked to them. I heard them say, if they did not get paid there is going to be problems. I had to encourage some of them to come out of the s tores. They had no reason to go in t he stores. They were just being disruptive, said Mr Smith. My view is there were only a handful of persons there who were really dealing with BTC. If you were t o speak to some of those persons, t hey did not know why they were out there. They did not know what they were out there for. If we weret o really do the due diligence, we'll find a lot of them did not understand what was going on, he said. When the morale, welfare and i ntegrity of the force is under threat, Mr Smith said, the association has a responsibility to intervene. Such is t he case with debate around the B TC protest, he said, where comm ents being made in the public are concerning. Mr Smith said he wass trictly speaking from the perspective of the PSA. He said the police force stands for its integrity, and we would wish nobody to interfere with that. If we see the type and caliber of p ersons coming out there. We know t hem. We have nothing to hide on that. We are the police. We know of those persons. Not saying that they are going to come out there and do something, but we have to make s ure officers are there in case, and to a ctually deal with the issues, said Mr Smith. It was strange the type persons I s aw. Certainly being a police officer for over 21 years, we know our caliber of persons that were moving up and down. They had nothing t o do with BTC, but they were advancing these political groups. The police had a difficulty with t hat, he said. W hen pressed to explain what he m eant by criminally-minded persons, Mr Smith said: From the per-s pective of the association, we know that these are persons who are known to the police. These are persons who are unsavoury characters and they would have been before t he police on numerous occasions. H e said the PSA supports the p ublic in their right to protest; however, they feel groups must not let persons whose view is to cause a disruption interrupt what actually should be happening. The police are there for safety a nd to ensure control. (A demonstration of that nature) is a perfect opportunity for any crime toe xplode, said Mr Smith. We live in a real world; there are persons who don't like this person; those who might have criminal m otives; that is the best time for that kind of activity. So the police would have made s ure all of its units were there to l ook out for those persons, who may h ave been of a criminal nature to make sure, because that was ana mple time. have petitioned the hospital for the medical history of their infant Yannis since his d eath in January, 2010 but h ave only been able to secure a portion of the records which d etail his last stay in hospital, they claim. T hey said PMH has not released documents detailing the period from the baby's birth in August 2009 until hisr elease from hospital in October 2009. The couple fear the records may have been lost. "We're not accusing any b ody of anything, we just want closure," said Mr Tsakkos, 39. "We just want a second opinion of what happened. We requested the rest of the records, our lawyer hadm ade at least two official requests, we believe we are entitled to a second opinion. The response has been 'We're looking for them' and according to them they are s till looking. I wouldn't think i t would take so long," he said. A year on from the tragic d eath of their son, the pair still have not had closure because of the delay, they told The Tribune I don't wish this on any body, it's not a pleasant experience," said Mr Tsakkos, while his wife, 28, wiped tears from her eyes. Yannis, born prematurely i n PMH on August 12, 2009, was the Greek-Orthodox cou ple's only child. F rom his birth, the infant was besieged with health problems and spent the first f ew months of his life in the n eo-natal intensive care unit of PMH away from his par ents. H e was diagnosed with a number of illnesses, including meningitis, or inflammation of the membranes that cover t he brain and spinal cord, and hydrocephalus, a condition in which excess fluid accumulates in the brain. Doctors also said Yannis had congenital heart diseasea nd a hole in his heart. The hospital discharged Yannis in early October 2009,b ut he was readmitted to hospital in late December 2009 after his parents noticed a f ever, increased vomiting and t hat he was passing blood in his urine. This time he was admitted i nto the Children's Ward, his family said, and three days later he developed pneumonia. H e soon went into cardiac arrest and fell into a coma before his death on January 29. Thelma Rolle, PMH public relations officer, told The T ribune t he hospital would look into the report and con tact the parents in the hope o f straightening out the situation. "I have forwarded it to our C lient Feedback Unit which is g oing to catch up with the parents to see what's going on," said Ms Rolle. We will be in contact with them within the next few days and determine what went wrong, to investigate, and say w hy there was a breakdown." FROM page one P ARENTS OF BABY WHO DIED IN PMH UNABLE TO GET COMPLETE MEDICAL RECORDS Criminally-minded paid in BTC protest F ROM page one

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LOCAL NEWS T HE TRIBUNE FRIDAY, MARCH 11, 2011, PAGE 9 f ully and no arrests were made. S till, workers told T he Tribune t hey are normally paid on Thursdays and claimed the construction company had not informed them of any changes in salary disbursements. "Every second Thursday we get paid, for over a year now I been getting paid on Thursday," said a worker who declined to give his name. "I had to go pay all kind of bills today. This crush my spirit.A nother worker claimed: "You can't tell the rent man they ain't pay u s today when they know you working. This causes problems in the household, they think you lying." Hever Cordova, company administrative manager, said it is company policy to pay workers on Friday but explained that sometimes the bank makes the money available earlier causing a "misunderstanding" between employees and the company. I think there was a misunderstanding from our workers. We have a greed from the beginning to pay them on Friday, so we were surprised they were expecting pay today (Thursday "We understand the employees need their money but the bank has a system they have to complete. Our instructions were given to them from Wednesday but the bank has 48 hours, the bank takes time to process payroll. "Once it is released some people take advantage and go before the specified time but it's not like the company doesn't want or can't pay salaries." Mr Cordova added that the company has shown police copies of internal memos which he said were circulated to workers about payd ay. relieve traffic congestion, but also to facilitate large infrastructure works which are being carried out underground. These, he said, are vital to improving the system of providing potable water and to allow for future expansion of other utility systems such as cable, electricity and telephone lines. Mr Higgs said contractors are trying to inconvenience businesses and residents as little as possible. Charlene Collie, project engineer with the Ministry of Works, said that in an effort to inform the public of the phases in which the works were to be carried out in the eastern corridor, flyers were distributed and a walkabout was con ducted. They also put up signs explaining this schedule, she said. Following Tuesdays row, ministry officials met with business owners. While fully acknowledging all their concerns, they sought to make it clear that some road clo sures and diversions will be unavoidable. Ms Collie said the ministrys traffic management committee is focused on the long-term benefits of the project, not the short-term liabilities. Since meeting with the business owners, the ministry has decided to re-examine the possibility of closing only one lane at a time in the Prince Charles area during business hours. However, Ms Collie warned this would extend the time the works will take and affect the cost of the project. She assured the public that both lanes are only closed "when absolutely necessary or for safety reasons, and always for the absolute minimum amount of time possible. She said once the work is done, drivers will have a wider Prince Charles Drive with new drains, improved lighting, sidewalks, better signs and ultimately, less traffic. LABOUR Minister Dion Foulkes has criticised PLP Deputy Leader Philip Brave Davis for seeking to politicise the tragedy of suicide and mental health issues. Minister Foulkes responded in a press statement yesterday to remarks made by Mr Davis at a P rogressive Liberal Party rally in Golden Gates Tuesday night. Mr Davis at that time suggested that t he Free National Movement a dministrations failure to create sufficient jobs to deal with the c ountrys unemployment probl em led to the untimely deaths of B ahamians. Suicide, said Mr Foulkes, is a complex matter which shouldb e discussed and responded to with great care and sensitivity, as well as compassion and proactive responses by various institutions and individuals, including those in public office. I therefore found it disturbing a nd a lack of compassion and s ensitivity that Mr Philip Brave D avis, the Deputy Leader of the P rogressive Liberal Party would s eek to politicise the tragedy of s uicide and related issues of mental health and depression. He noted that suicides in The Bahamas are down by 33 per cent from 2009 to 2010, from twelve to eight respectively. Still, every suicide is a tragedy for the indiv iduals and families involved as well as the wider community. According to Mr Foulkes prio r to the Christmas holidays, the D epartment of Social Services e ntered into a partnership with accounting firm Grant Thornton to increase the number of coun-s ellors available to the national suicide hotline. He noted that because of the confidentiality of the hotline, a number of persons have been helped over the past several months. I encourage those who are in n eed of assistance or who have a f amily or church member or friend or work colleague in needo f assistance, to call the confid ential National Suicide Hotline at 322-2763. Bahamians should work in a nonpartisan manner to preventa s many suicides as possible as well as to respond to such a tragedy when it occurs, he said. The reasons for suicide are varied and often complex. Difficult economic times may help to lead to an increase in suicides as has been seen in various countries around the world during what have been some of the toughest economic times in generations. He said that at home, the Government responded with a comprehensive and intensive a rray of measures to respond to the global financial crisis and its impact on individuals, families a nd communities. These included a dramatic increase in social assistance, the National Retraini ng Programme, and the landm ark Unemployment Benefit P rogramme as well as through other measures to stimulate the economy and jobs. According to the World Health Organization, The Bahamas has one of the lowest suicide rates in the world. This may be due in part to our strong sense of community and religious faith, both of which we should c ontinue to rely on in good and d ifficult times. M r Foulkes invited the Oppos ition as well as all others to o ffer ideas, support and prayers i n helping those in our homes and communities who may be tempted to commit suicide. Moreover, we should support those families who have suffered the loss of a loved one through such a tragedy. What is needed in such trying t imes is love and compassion, not insensitivity or making judgments. M r Foulkes invited those who w ish to be trained as volunteers f or the Hotline to call 322-3035. I also wish to restate that the National Suicide Hotline numberi s 322-2763, he said. SEEPAGETWO P OLICE CALLED AFTER ROAD WORKERS TOLD PAY NOT IN THEIR BANK ACCOUNTS FROM page one FROM page one ROAD CLOSURES Minister criticises PLP Deputy for seeking to politicise suicide PHILIP BRAVE DAVIS had suggested that the Free National Movement administrations failure to create sufficient jobs to deal with the countrys unemployment problem led to the u ntimely deaths of Bahamians.

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By NEIL HARTNELL Tribune Business Editor Grand Bahama Port Authority (GBPAl icencees have applied to the Supreme Court for permis sion to intervene in Cable Bahamas two-year battlew ith the Utilities Regulation & Competition Authority (URCA legal issues potentially abrogate or amend the Hawksbill Creek Agree ment. A ttorney Rawle Maynard a nd businessman Chris L owe, in an affidavit sworn in support of the Freeport Licensees and Property Owners Associations appli cation to become an intervening party, said Cable Bahamas Judicial Review action had raised three pivotal issues crucial to interpreting key Hawksbill Creek Agreement provisions, and it was critical to safeguard GBPA licensee rights. The affidavit, filed with the Supreme Court on February 11, 2011, said the first provision related to the fact that the Hawksbill Creek Agreement stipulated that any amendment to it required the approval of at least 80 per cent of GBPA licencees. This, Messrs Maynard and Lowe alleged, vest in each licencee the right to be consulted, and a right to be heard and be counted in connection with all such amendments. And they claimed that the same Agreement also pro hibited the GBPA from assigning its rights, and restricted whilst providing for a transfer by the Port Authority as respect its said quasi-governmental powers and its specified rights, powers and obligations for the proper administration and development of the Port Area other than to a Local Authority. The last two Hawksbill Creek Agreement provi sions come into play because Cable Bahamas Judicial Review, over the seemingly innocuous question of whether its Freeport busi ness should pay $78,747 worth of licensing fees, has highlighted how the agree ment that underpins Freeports very existencea nd development could be breached by the national communications supervisoryr egime. GBPA officials have been concerned since 1999 that attempts to create aB ahamas-wide t elecoms/communications regulatory regime, via the Telecommunications Act of SECTIONB business@tribunemedia.net FRIDAY, MARCH 11, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.72 $5.12 $4.72 get sound investment advice benet from multiple fund options earn potentially higher returnsall of the aboveinvestmentsplan your strategy call us today at (242396-4076 A SUBSIDIARY OFCORPORATE CENTRE: EAST BAY & SHIRLEY STREET & EAST BAY STREET I www.famguardbahamas.com By NEIL HARTNELL Tribune Business Editor Cable & Wireless Communications (CWC a 51 per cent stake in the Bahamas Telecommunications Company (BTC ulator on the grounds it would not lessen competition in any o f the services the state-owned incumbent currently offers, as it rejected concerns that CWC would use the extended three-year cellular monopoly to impede the growth of c ompetition in other markets. I n a decision that will come as no surprise to informed o bservers, the Utilities Regulation & Competition Authority (URCA there is no evidence to support a finding of a substantial No evidence BTC deal anticompetitive URCA approves CWC privatisation, rejecting claims cellular monopoly extension will impede the growth of competition* Fears three-year monopoly will enable BTC/CWC to use cellular profits to cross-subsidise rival business lines* Other concerns involve CWC using Caribbean affiliates to give BTC more favourable terms, and help it cost shift BTC international services market share 5-25% SEE page 5B POR T LICENCEES MOVE T O INTER VENE ON UR C A SEE page 5B By NEIL HARTNELL Tribune Business Editor and ALISON LOWE Business Reporter alowe@tribunemedia.net Robin Hoods president last said the company was under attack from a host of unnamed sources who wanted to force it from the Bahamian retail market, but warned: I have no intention of disappearing gracefully and going into the night. Sandy Schaefer spoke to Tri bune Business after dismissing R OBIN HOOD C OMESUNDER ATTACK But retailers chief warns: I have no intention of disappearing gracefully and going into the night Claims Robin Hood has changed the face of Bahamian retail by forcing rivals to lower prices Dismisses claims of lay-offs, and payroll and supplier payment issues, as patently untrue SEE page 4B By NEIL HARTNELL Tribune Business Editor More than 50 permanent, d esperately needed jobs will b e created if a renewable e nergy supplier obtains an agreement to supply Grand Bahama Power Companyw ith energy from Refuse Derived Fuel (RDFB usiness was told yesterday, w ith the proposed plant able t o supply between 15-30 Mega Watts (MW months of starting operations. T he business plan for EFuels Bahamas, a copy of which has been seen by thisn ewspaper, said the energy s upplier had obtained $100 million in financing from the US Export-Import Bank, and if its project was approved c ould sell the power it produced to either the Bahamas E lectricity Corporation (BEC Power at $0.13 per kilowatt hour. This, the plan said, would p ass substantial savings on t o Bahamian residential and commercial electricity users, w ith fuel surcharges reduced and the Bahamas driven a s tep further down the road to e nvironmentally-friendly, sust ainable energy that could stab ilise power prices. With respect to employment, the local economy is expected to realise the full benefit from the job and pay r oll estimate, E Fuels Bahamas project overview s aid. The green power plant j obs and the construction activity for both phases will a lso create a number of jobs indirectly from the projectrelated spending, and the spending decisions of plant, trucking and construction w orkers. The number of indirect or induced jobs created in the G rand Bahama economy is estimated at 450 jobs over the t wo project phases. From a s hort-term socioeconomic p oint of view, the plant itself a nd the related construction activity will immediately provide as many as 348 much needed jobs for Grand $100m renewable plants jobs boost n Waste-to-energy proposal for Grand Bahama promises more t han 50 permanent posts, with total impact creating 450 jobs n Construction phase could generate 348 jobs, with plant aiming to generate between 15-30MW within 10 months of start SEE page 4B FOODFORTHOUGHT: The Robin Hood store in Prince Charles Drive. B y ALISON LOWE Business Reporter alowe@tribunemedia.net The Department of Physical Planning has asked the A ttorney Generals Office to prosecute businesses w ho have refused to take d own digital billboards around New Providence, its director said yesterday. W ith over a month having p assed since the Ministry of the Environment issued a d emand for the billboards to b e switched off or removed, given that they are considered illegal by the Department under a 1964 law regul ating advertising, Michael M ajor said the matter is now out of his hands. Nothing concrete came of it. The matter is at the A ttorney Generals Office f or further action. If we give n otice saying the signs s hould be removed and they are not in the time specified, then it is sent to the AGs office for prosecution, said Mr Major. Planning moves on prosecution of sign owners S EE page 6B B y NEIL HARTNELL Tribune Business Editor The Bahamian Contractors Associations (BCA president yesterday said an Inter American Develop ment Bank (IDB project to modernise the Governments procurement system was critical to maximising Bahamian involvement in public sector infrastructure projects. Stating that it was necessary to regularise the Governments tender processes and protocols, Stephen Wrinkle said of the $331,396 project, which will be financed with an $239,196 grant: They cer tainly need that revision. We hope that it proceeds on course. Thats part of the World Trade Organisation (WTO one of the main require ments moving forward to join the WTO is improving Gov t tendering r eform critical SEE page 6B STEPHEN WRINKLE

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B USINESS PAGE 2B, FRIDAY, MARCH 11, 2011 THE TRIBUNE 326,7,21$9$,/$%/( 0RUWRQ%DKDPDV/LPLWHG$*URXS&RPSDQ\VHHNV VXLWDEOHFDQGLGDWHWRILOOWKHSRVLWLRQRI(OHFWULFDO(QJLQHHUDWLWV VDOWSURGXFWLRQIDFLOLW\LQ,QDJXD7KH%DKDPDV 7KLVSRVLWLRQVXSSRUWWKHIDFLOLW\PDQDJLQJWKHDFWLYLWLHV DVVRFLDWHGZLWKHOHFWULFDOSURMHFWVDQGHOHFWULFDOPDLQWHQDQFH 7KHVXFFHVVIXOFDQGLGDWHZLOOKDYHWKHDELOLW\WRPDQDJHSURMHFWV DQGSRVVHVVJRRGFRPSXWHUDQGRUJDQL]DWLRQDOVNLOOV*RRGFRP PXQLFDWLRQVNLOOLQWHUSHUVRQDOVNLOOVDQGWKHDELOLW\WRVROYHFRP SOH[SUREOHP $ &ROOHJH'HJUHHLQ(OHFWULFDO(QJLQHHULQJLVUHTXLUHG (QWU\OHYHOFDQGLGDWHVDUHZHOFRPHG %DKDPLDQ&LWL]HQRU+ROGHURI%DKDPDV:RUNHUPLWUHTXLUHG 9LVLW DQGIROORZWKHFDUHHUSDJH &)$&,(7<7+(%$+$0$6 0217+/<($.(5/81&+(21(9(17 723,& (&+1,&$/$1$/<6,67+(%$6,&6 $ : HGQHVGD\ WK 0 DU 7 ,0( $GGUHVV 3OHDVHDUULYHSURPSWO\ 3 /$&( & DJOLDULRRP /XFLDQRVRIDVVDX(DVW%D\WUHHW 63($.(5 %DUU\LQH 'LUHFWRURIHVHDUFK&DSVWRQH &267 0HPEHUV 1RQPHPEHUV &KHTXHVSD\DEOHWR&)$RFLHW\RI7KH %DKDPDVf 5(6(59$7,216 35((*,675$7,21(48,5('E\ 4 \ \ WK 'DYLGDPLUH]&)$ +<3(5/,1.PDLOWRGUDPLUH]#SLFWHWFRP GUDPLUH]#SLFWHWFRP r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BUSINESS T HE TRIBUNE FRIDAY, MARCH 11, 2011, PAGE 3B By ALISON LOWE Business Reporter a lowe@tribunemedia.net A trade symposium is being planned to bring Bahamian straw vendors and a multitude of straw/handicraft manufacturers together to ensure the viability of authentically Bahamian craftwork as a trade, ahead of the launch of the new Nassau Straw Market as a p latform for locally-made souvenirs. The Ministry of Works is leading efforts to enhance linkages between the straw work manufacturers, who are located throughout the Bahamas, and vendors who will be setting up stalls inside the new Straw Market in a bid to increase the opportunity for each set of stakeholders, and the B ahamian tourism product, to benefit. The reality is that while wholesalers of foreign souvenirs from Taiwan and Japan have got ready access to vendors in the current tented Straw Market from bases in Nassau, and can offert hem an ample supply and variety of products to retail at their stalls at a lower price, enabling greater profit margins, Bahamian handicraft manufacturers are located throughout the Family Islands and have faced difficulties in pricing and distributing their goods competitively, according to Downtown Nassau Partnership mana ging director, Vaughn Roberts. Elizabeth Keju, undersecretary in the Ministry of Public Works, said the Government, through the Ministries of Works and Tourism, and entities such as the Downtown Nassau Partnership, are attempting to minimising issues that have limited the penetration of Bahamian handicrafts in the souv enir market. She said that based on her interractions with straw vendors, the opportunity to maximise the sale of authentic Bahamian handicrafts to tourists is a sleeping giant that could provideh uge financial and social benefits. Vendors, she said, have described sending children to law school, medical school and engineering school using money they have earned in the past from the sale of straw work to tourists. Revive The government hopes it can revive a nd restore the industry in this regard. We're hoping that we can as much as possible have a market that sells authentic Bahamian crafts. There's some challenges in that area in terms of availability and cost, but we're working with vendors and the manufacturers, said Ms Keju. A meeting was held two weeks ago i n which vendors were brought together with manufacturers of handicrafts to begin to talk about what could be done to help them sell more Bahamianmade items. W hile many of the vendors are themselves skilled craftspeople, said Ms Keju, they often turn to selling cheaper imported souvenirs, as they find them easier to sell to tourists who are often looking for a low cost trinket or bag. The ability to get a ready supply of reasonably priced Bahamian handic rafts may be key to increasing their sale, suggested both Mr Roberts and Ms Keju yesterday. A vendor may not be able to sell a $100 straw bag every day, said Mr Roberts, but you may be able to sell quite a few $5 wallets or something like that. A trade symposium where vendors c an peruse the range of items that straw/handicraft manufacturers can produce, and in which discussions can be held between both sides towards coming to a consensus on addressing some of the barriers that have tradi-t ionally limited the extent to which they have been able to work together, is planned for summer 2011. Were hoping we can have a trade symposium between the manufacturers and the operators, where they can sit together, look at what's available, talk about pricing issues, marketing issues and begin this serious process of netw orking and negotiating to ensure the viability of this trade for all concerned, because if one fails all fail. We want them to sit down and work things out, said Ms Keju. According to the Works official, the Straw Market is on target both in financial terms and construction schedule, and remains set for a late summ er, end of year 2010 opening. Interior work, including the installation of counters for vendors and utilities is currently underway. Trade meeting to ensure viability of handicrafts By ALISON LOWE Business Reporter alowe@tribunemedia.net A PLP MP again questioned the credibility of the Utilities Regulation and Competition Authority (URCA communications sector regulator announced it has given formal approval to the sale of 51 per cent of the Bahamas Telecommunications Company (BTC tions (CWC URCA yesterday issued its adjudication on the change in control of BTC, saying it approved the transaction because it did not find evidence that by allowing CWC to take a 51 per cent interest in BTC there would be a substantial lessening of competition in the telecommunications sector in the Bahamas. Noting that the regulatory authority has been aware of and had due regard to public sentiment regarding the change in control, and has noted the significant public interest in various aspects of the transaction, URCA said it reviewed sever al issues which are not relevant to the matters which URCA is empowered by the Communications Act to consider in relation to its approval or rejection of the change in control. Fred Mitchell, MP for Fox Hill, had called on URCA not to approve the change in control of BTC on the basis of several considerations among them, that he believed the exclusivity period granted to CWC over the cellular market was unconstitutional, and the fact that URCAs CEO and a consultant to the entity have had previous ties to CWC. He also contended in a February letter to URCA, declaring his opposition to the BTC control transfer, that he did not think selling control of BTC to CWC would result in any benefit to consumers, as the Government has contended. Integrity URCAs chairman, Wayne Aranha, since issued a statement in defense the integrity of the regu lator and its chief executive, Usman Sadaat. It called for well meaning members of the public to desist from unproductive and damaging behaviour or unsubstantiated public comments, and instead concentrate objectively on the core issues. Yesterday, URCA went further on the issue of the alleged conflict of interest, stating that it was satisfied that no conflict of interest arises in respect of any person who has been in any way involved in URCAs consideration of the parties request for approval of the change in control of BTC. On the question of lack of potential efficiencies and consumer benefits raised by opponents of the change in control, such as Mr Mitchell, URCA said that it would consider the efficiencies and benefits claimed by the merging parties (BTC and CWC hood of a substantial lessening of competition ina market. Given that it does not see the acquisition of BTC by CWC as likely to lessen competition in the Bahamas telecoms industry, URCA suggested such claims regarding efficiencies and bene fits do not come into play. Mr Mitchell reiterated his belief that URCA has a credibility problem, telling Tribune Business the bodys decisions are really not worth the paper their written on. It is very interesting that the Prime Minister was able to say that URCA breached the rules in connection with the hiring of foreign personnel, and that his government was going to write thema letter asking them to act according to government policy. The first question in my mind is: What else can (the government on? he added. Mr Mitchell said that as an interested individual he will review the reasons given by URCA for approving the change in control of BTC, and if necessary take the necessary court action. MP blasts URCA on credibility problem HITTINGOUT: Fred Mitchell, MP for Fox Hill

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Bahama residents. A more long-term economic benefit of a reliable and sustainable green power source will be the attracting o f other businesses to F reeport, Grand Bahama, and the expansion of existing businesses. The plant will operate as a green power gasifier, turningR efuse Derived Fuel (RDF into gas to generate energy.T he gas will be taken to a Heat Recovery System Generator (HRSG verts it into steam to power a turbine. The turbine will generate electricity that will be sent tot he grid for power use. The project is proposed in two phases, each phase having the capability to produce up to 35MW (gross or 30 MW (net in two phases of renewable ( green) power, E Fuels Bahamas said. That power volume is significant, given that Grand Bahamas maximum electricity demand in2 009 was 73 MW. RDF is generated from m unicipal solid waste, and is a blend of paper and plastic, w ith chipped tyres added in to generate extra heat. It is derived, E Fuels Bahamas said, from residential waste, n ot industrial waste, with glass and metals removed. The initial feedstock for the green power plant will be prepared RDF shipped fromW est Palm Beach at a blend of 70% RDF and 30% tires ( blended onsite), the company added. The prepared R DF is baled, plastic wrapped and put into standard seagoing containers for shipment to West Palm Beach, Florida b y rail and ultimately Freeport, Grand Bahama. I mplementing waste-toenergy and other renewable e nergy projects in the Bahamas, E Fuels Bahamas said, would reduce this nations greenhouse gas emissions, as well as fossil fuel imports, and boost energy security. Important The [former] is especially important given that the annual average emission of 6 .7 tons of CO2 per person m akes the Bahamas among t he highest per capita emitt ers of Greenhouse Gases ( GHGs) in the world, E F uels Bahamas said. This c ould generate an interesting potential to sell Carbon Emis sion Reductions (CERs through the Clean Development Mechanism (CDM developed under the Kyoto Protocol. The E-Fuels Project will reduce The Bahamas carbon footprint by producing green power. More importantly, the project is designed to encourage the local power company to provide a lower cost of power to residents, business and industry, while improving the reliability through diversified power-generating source and site. as patently untrue claims that Robin Hood was this week in the process of laying-off 25-30 staff with, as stated by Tribune Business sources close to the situation, some 15-18 persons let go from the two-store retailer on Wednesday. First contacted by Tribune Business on Wednesday, when he also branded reports of layoffs at the retailer, which has a 300-strong staff, as not at all true, Mr Schaefer said the last significant staff cut backs were those which took place in January. After that it has been the status quo, he added. In a weeks period do we let go three-four people? Yes. In a week, do we hire four-five people? Yes, absolutely. Mr Schaefer also dismissed claims, made by various retail and wholesale sources, that the pay cheques of some Robin Hood employees had bounced when they attempted to cash them, and that some of the retailers suppliers had been chasing it for due payment for several weeks. Thats just not the case, he said of both claims. I dont know where all of this is coming from. When it came to supplier payments, Mr Schaefer added: All of our local suppliers, with the exception of maybe two, we pay cash in advance, and weve done that since we opened the grocery store side so we can get better pricing. Dismissing the claims that Robin Hood had run into finan cial difficulties, having possibly expanded too far, too fast, as just sour grapes, Mr Schaefer added: Were paying all of our local suppliers, from Bahamas Food Services to Asa H Pritchard; for any one of the local vendors we are CBD cash by delivery. That buys us a few more points, so how can we be behind with payments? Show me an invoice, show me something we havent paid, and at the end of the day I will address it. The Robin Hood president then suggested to Tribune Business that forces in the Nassau business community and wider society were out to get him, and potentially force him out of business, having been upset at how his company had shaken up the Bahamian retail industry and forced rivals to lower their consumer prices. Telling this newspaper to connect all the dots, when it asked for the names of the forces ranged against him, and suggesting that recent articles written about Robin Hoods new Prince Charles Drive store may have sparked competitor jealousy, Mr Schaefer said this newspapers revelation that he was in exploratory merger/acquisition talks with City Markets principals may have prompted the rumours in a bid to reduce his companys value. Were under attack right now. Theres no question. There may be a lot of people who have something to gain by putting us in a weak position, he told Tribune Business. At the end of the day, business is tough for everybody. Do we need to make it even tougher? Mr Schaefer said opposition to Robin Hood had been around since the beginning of time. And he added: Theres one undeniable fact: Robin Hood has changed the face of retail on this island. We were the ones who said: The Emperors not wearing any clothes. We forced everyone to lower their prices. These people hope to gain a lot if we disappear from the market. Do I have any intention of disappearing? No. I have no intention of disap pearing gracefully and going into the night. Robin Hood is currently talki ng to City Markets principals and potential other interested parties, but Mr Schaefer vehe mently denied that these moves had been prompted by his busi ness running into financial difficulties. The late opening of Robin Hoods new Prince Charles Dri-v e store, which is now being further impacted by the closure of a portion of the road in front of it due to road works, was said to have cost the company millions of dollars in revenues over the Christmas 2010 period. The expansive retailer had hoped to open the new store int ime to catch the Christmas and New Year shopping season, a period that often accounts for up to 40-50 per cent of some stores' annual sales revenues, but Tribune Business sources suggested the opening was delayed by the need to comply with requirements stipulated by the Ministry of Works and other government agencies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f5DWLQJ IURP%HVWUHHFWLQJWKHFRPSDQ\QDQFLDOVWDELOLW\DQG VRXQGULVNPDQDJHPHQWSUDFWLFHV 3OHDVHDSSO\EHIRUHDUWK *U7UDLQLQJDQDJHU %DKDPDV)LUVW&RUSRUDWHHUYLFHV 3 1DVVDX%DKDPDV 2UHPDLOWR FDUHHUV#EDKDPDVUVWFRP Robin Hood under attack FROM page 1B $100m renewable plants jobs boost FROM page 1B

PAGE 14

lessening of competition resulting from the $210 million acquisition by CWC. P ointing out that its powers under the Communications Act only allowed it to block industry mergers and acquisition on competition grounds, and when the purchase of media assets wasa gainst the public interest, the regulator concluded of the BTC privatisation: URCA finds that the change in con-t rol contemplated by the t ransaction would not have e ither of the adverse effects set out [in the Acts] section 72; substantially lesseningc ompetition, or for a change in control involving a media public interest, an effect con t rary to public interest. E ssentially, because CWC does not already have a presence in the Bahamian comm unications market, URCA found that its BTC acquisition taking over majorityc ontrol at an existing operator would have no impact on current competition levels. However, one respondent ( possibly Cable Bahamas) to URCAs consultation process on the BTC deal suggested t hat the privatisation by CWC would create a substantial lessening of competition in several markets, as it meant the companys Caribbean business, LIME, would not enter the Bahamas as a com p etitor to BTC. Noting BTCs dominant share of the fixed-landline and cellular markets, where a ccording to URCA the stateowned incumbent holds a 98 per cent and 100 per centm arket share, respectively, this respondent argued that the extension of BTCs post-p rivatisation cellular monopoly from two to three (likely four) years, had effectively extended the companys abil i ty to cross-subsidise its other businesses with profits from the cellular side. The transaction will cause a lessening of competition in the fixed markets, as it e xtends the licensees ability t o leverage its mobile monop oly to impede the growth of competition in the fixed voice, b roadband, domestic long distance and international long distance market, the respon-d ent said. The transaction will cause a lessening of competition in t he international services mar kets because [CWC] will have an incentive and the ability to favour [BTC] over other operators licensed to provide international services to customers in the Bahamas. This was because, the respondent argued, CWCs Caribbean affiliates held dominant positions in their home markets, and had the ability to offer call termination services to BTC on price terms and conditions which disc riminate against other intern ational services providers in t he Bahamas. And the same respondent also expressed concern that CWC, with its One Caribbean operating model, would be in a position to cross-subsidise BTC by providing operational, management and administrative services to it at lower prices, enabling the privatised entity to engage in anti-competitive cost shifting. These practices may not b e addressed by, or be detectable under, URCAs current cost accounting and a ccounting separation rules, t he respondent said. I n response, URCA said it was impossible for it to speculate on what would happen t hrough the extension of B TCs cellular monopoly from two to three years, as this was a matter that had yet to be debated and passed by P arliament. Monopoly T his, it added, was a matter for the Government and Parliament, not itself, although it noted that the cellular m onopoly was core to BTCs value and that a failure t o consummate the CWC deal might set back the introduction of competition in this market even further. When it came to interna tional services, both BTC and CWC estimated that the form ers market share was b etween 5 per cent and 25 per c ent of total revenues. While BTC owned and operated the Bahamas II fibre o ptic cable, which provided c onnectivity between Florida and New Providence/Grand Bahama; the cable system linking the other Bahamian i slands and Haiti; and the s atellite earth station at Solid e r Road for European connectivity, this was balanced by the competing infrastruct ure of Cable Bahamas and Columbus Communications. Another international connectivity provider, Global Nexus Communications, had b een licensed to provide connectivity to Freeport, and while CWC had cables that terminated in Florida they were not substitutes for B TCs, as they did not link the Bahamas. When it came to concerns a bout CWC providing preferential call rates for BTC,a nd leveraging its mobile monopoly to ensure that calls by BTC customers were routed along CWCs networks, URCA said its regulatory powers enabled it to deal with t hat. O n the fixed-voice side, U RCA said that while BTC w as estimated to have 98 per c ent market share, the r emaining 2 per cent belongi ng to Systems Resource Groups (SRG brand, this data did not i nclude Voice over Internet Protocol (VoIP domestic and international calls made via calling card. T urning to the claim that t he BTC privatisation prevents CWC from entering the B ahamian market as a competitor to the state-owned incumbent, thus constraining its behaviour, URCA said the fixed line and data markets had been open to competitors since 2009, and CWC had made no move to obtain the n ecessary licences to do so. URCA believes that the high cost of entry and long time to roll-out in the fixed s ervices markets (particularly t hose in which [BTC] has sig nificant market power) sub stantially decrease the likelih ood of [CWC] entering the market, save by way of acquisition of existing licensed operators, the regulator said. And, on the data side, com petition would not be impacted because BTC has just a 30 per cent market share. BUSINESS T HE TRIBUNE FRIDAY, MARCH 11, 2011, PAGE 5B No evidence BTC deal anti-competitive FROM page 1B t hat same year, and now the Communications Act 2009, could erode both its rights to licence this industry in Freeport and "require us to breach the Hawksbill Creek Agreement". A draft February 14, 2001, letter from Sir Albert Miller to then-finance minister, Sir W illiam Allen, on this issue, warned: "The p roposed draft agreement first sent to us b y the Office of the Prime Minister places GBPA in a somewhat untenable position. "To agree to the assignment of our rights, as proposed therein, would require us to breach the Hawksbill Creek Agreement." In their affidavit, Messrs Lowe and Maynard said the question of whether the Comm unications Act applied to Freeport raises i ssues of law requiring an interpretation of provisions of the Agreement. Licensee members of the Association w ish to be heard in relation to that question, a s it concerns the meaning and legislative effect of the 1999 Act and its potential abrogation or amendment of the Agreement. As licensees, we stand to be affected by any abrogation or amendment of the Agreement, and we are compelled therefore to take appropriate steps when (and if s ary to safeguard the inviolability and integrity of the Agreement upon which the protection of our rights and interest d epend. A lleging that the Hawksbill Creek Agreem ent vested GBPA licencees with rights of a proprietary nature that are to be afforded c onstitutional protection, Messrs Maynard a nd Lowe alleged that all licencees derived their rights and status from it. They also had the right to be consulted and heard, and consent to any amendments to the Hawksbill Creek Agreement. The Government's current position is set out in two letters sent in late 2009 to theG BPA and its legal advisors by David Davis, p ermanent secretary in the Prime Minister's Office, in which he states: "The Gov ernment's position is that there should be a s ingle regulator for the electronic commun ications sector of the Bahamas." Adding that the Bahamas Telecommuni cations Company (BTC was expected to continue operating in F reeport under the current licensing regime, Mr Davis added: "Having regard for the provisions of the Hawksbill Creek Agreement, the Government is minded, using moral suasion, to seek the cooperation of your [Port Authority] Board in agreeing that the URCA regime might be extended to Freeport. In this regard, I herewith formally seek the concurrence of your Board." Various drafts have been kicked back and forth, the most recent, according to an August 31, 2009, legal opinion prepared by Graham, Thompson & Co's Robert Adamsf or GBPA president Ian Rolle, having been a draft Deed of Assignment sent on June 18, 2009, by T. B. Donaldson, chair of the Government-appointed privatisation committee. According to Mr Adams, this draft involved the GBPA assigning all its rights to licence and regulate the provision of electronic communications services within the P ort area to URCA for $1. "GBPA's rights under the existing business licences that have been issued to electronic communications services providers i n the Port area will be included in the a ssignment," Mr Adams wrote. For example, all of GBPA's rights, i ncluding the right to collect the licence fees, under its licence agreement with BTC and C able Bahamas will also be assigned to U RCA." Summing up the implications, Mr Adams w arned: "Although it is our view that the D eed does not purport to 'amend' the terms o f the Hawksbill Creek Agreement, it must be noted that an assignment of a part of GBPA's rights under the Hawksbill Creek Agreement to a third party would represent a very significant change to the regulatory landscape in the Port area. "Accordingly, if GBPA is prepared to give up its rights to regulate the electronic communications sector in the Port area and negotiate mutually acceptable commercialb enefits and terms for an assignment of such rights to URCA, it is our recommendation that GBPA engage in a well-planned, struc-t ured and transparent process of public consultation with its existing stakeholders and licencees prior to entering into such ana ssignment despite the fact that there is no strict legal obligation on GBPA to do so." Port licencees move to intervene on URCA FROM page 1B

PAGE 15

DAVE CARPENTER, AP Business Writers JEANNINE AVERSA, A P Business Writers WASHINGTON Americans' wealth grew 3.8 percent in the final three months of 2010, boosted by gains in stock portfolios. Companies, meanwhile, added to their cash stockpiles, which r eached their highest point in more than a half-century. H ousehold net worth rose to $56.8 trillion in the OctoberDecember quarter, even though the value of real-estate holdings fell 1.6 percent, the Federal Reserve said Thursday. Last quarter's gain exceeded the 2.6 percent increase in net worth in the July-September p eriod. So far this year, stocks have risen more than 3 percent. Further gains in wealth could lead Americans especially higherincome consumers to spend more, strengthening the econ o my. Net worth is the value of a ssets such as homes, checking accounts and investments, minus debts like mortgages and credit cards. It's now risen for two straight quarters after shrinking last spring. Americans' net worth is well a bove the bottom hit during the recession: $49 trillion in the Janu ary-March quarter of 2009. Still, it would have to rise an additional 16 percent to reach i ts pre-recession peak of $66 trillion. Companies are still holding tight to their cash. Their cash piles grew to $1.89 trillion last quarter. That's the most on quarterly records dating to1 952. Economists predict that comp anies will use more of their cash this year to make capital investments and boost hiring. In the April-June quarter, net worth posted its first decline since 2009, when Europe's debt crisis bred turmoil on WallS treet. Since then, stock gains have continued to rebuild A mericans' wealth. B USINESS PAGE 6B, FRIDAY, MARCH 11, 2011 THE TRIBUNE 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.130.95AML Foods Limited1.091.090.000.1230.0408.93.67% 10.639.05Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 5.754.40Bank of Bahamas4.504.40-0.104,0000.1530.10028.82.27% 0.530.17Benchmark0.180.180.00-0.8770.000N/M0.00% 2.842.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.201.96Fidelity Bank1.961.960.000.0160.040122.52.04% 12.409.44Cable Bahamas10.2110.210.001.0500.3109.73.04% 2 .852.35Colina Holdings2.402.400.005000.7810.0403.11.67% 7.005.80Commonwealth Bank (S1)6.806.800.000.4880.26013.93.82% 2.861.90Consolidated Water BDRs2.162.07-0.090.1110.04518.62.17% 2.541.40Doctor's Hospital1.401.400.000.1070.11013.17.86% 6.505.25Famguard5.255.250.000.3570.24014.74.57% 9.275.88Finco5.885.880.000.6820.0008.60.00% 11.408.77FirstCaribbean Bank9.399.390.000.4940.35019.03.73% 6.004.57Focol (S)5.405.470.073,7000.4520.16012.12.93%1 .001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5 .595.50ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.80J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.001.2070.2008.32.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 1 00.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk-Hi 52wk-Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield FINDEX: YEAR END 2008 -12.31%30 May 2013 20 November 2029THURSDAY, 10 MARCH 2011BISX ALL SHARE INDEX: CLOSE 1,456.81 | CHG 0.35 | %CHG 0.02 | YTD -42.70 | YTD % -2.85BISX 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%B ISX 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 Fund2.94860.04%1.45%2.918256 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 Fund13.43920.61%-0.22% 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 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-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 28-Feb-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 9$&$1&< 3URSHUW\0DQDJHPHQW&RPSDQ\LV LPPHGLDWHO\VHHNLQJDQHQWU\OHYHO PDLQWHQDQFHZRUNHUIRULWVPXOWL IORRUFRPPHUFLDOEXLOGLQJ7KHLGHDO FDQGLGDWHZLOOEHUHTXLUHGWRSHUIRUP JHQHUDOEXLOGLQJPDLQWHQDQFHDQG UHSDLUZRUNLQYROYLQJSOXPELQJDQG HOHFWULFDOVNLOOVVRPHKHDY\OLIWLQJLV UHTXLUHG7KHFDQGLGDWHPXVWZRUN ZHOOLQGHSHQGHQWO\WDNHLQLWLDWLYHDQG EHDWHDPSOD\HU$WWUDFWLYHEHQHILWV5HSO\LQFRQILGHQFHWRYDFDQF\#JPDLOFRP RQO\VKRUWOLVWHGDSSOLFDQWVZLOOEHFRQWDFWHGf A look at economic developments and activity in major stock markets around the world Thursday: ___ LONDON Weaker-than-expected economic data from the U.S. and China and the battle for control of Libya weighed on European stock markets while a debt rating downgrade of Spain hit the euro a day ahead of a crucial meeting of European Union leaders. The FTSE 100 index of leading British shares closed down 1.6 percent, Germany's DAX fell 1 percent and the CAC-40 in Paris was 0.8 percent lower. ___ TOKYO Earlier in Asia, Japan's Nikkei 225 stock average ended 1.4 percent lower after the government said the economy shrank 1.3 percent in the fourth quarter. China's Shanghai Composite Index closed down 1.5 percent and Hong Kong's Hang Seng index retreated 0.8 percent. ___ BEIJING China reported an unexpected trade deficit in February as surging prices for oil and other commodities pushed up its import bill. February export growth plunged to 2.4 percent as businesses were idled for the weeklong Lunar New Year holiday while imports of higher-priced oil and other goods rose 19.4 percent for a deficit of $7.3 billion. ___ MADRID Moody's lowered Spain's credit rating, citing worries over the cost of the banking sector's restructuring, the government's ability to achieve its borrowing reduction targets and grim economic growth prospects. The agency reduced Spain's rating by one notch to Aa2 and warned that a further downgrade is possible if indications emerge that Spain's fiscal targets will be missed, and if the public debt ratio increases more rapidly than currently expected. ___ NEW YORK Oil prices tumbled as economists warned that the recent surge in fuel prices will eventually hurt the fragile economic recovery. ___ WASHINGTON A surge in oil prices and rising demand for foreign cars and machinery helped push imports up at the fastest pace in 18 years in January, giving the country the largest trade deficit in six months. The January deficit increased 15.1 percent to $46.3 billion, while exports rose 2.7 percent to an all-time high of $167.7 billion. But imports rose at nearly twice the pace of exports, to $214.1 billion. A big jump in demand for a variety of foreign goods from industrial machinery and telecommunications equipment to autos drove the increase. America's foreign oil bill rose 9.5 percent, underscoring concerns that higher oil prices could slow the economic growth. ___ ATHENS, Greece Greece's finance minister asked the EU to urgently reform the way ratings agencies are allowed to operate after what he called "unbalanced and unjustified" downgrades of Greece and other struggling European economies. George Papaconstantinou wrote in a letter that a ratings cut of Greek debt by Moody's this week risked creating damaging "self-fulfilling prophesies." ___ FRANKFURT Exports of trade powerhouse Germany slipped 1 percent in January from the previous month, but sales abroad were still higher than a year ago. Economists at UniCredit said China passed the United States as an export destination for Germany. ___ BERLIN German Chancellor Angela Merkel says her country will insist that any bailout funds for highly indebted eurozone countries will only be given out as a last resort and in return for strict austerity pro grams. ___ DUBLIN Ireland's newly elected prime minister, Enda Kenny, devoted his first full day on the job to lobbying European Commission President Jose Manuel Barroso for a better bailout deal and cutting his Cabinet ministers' salaries. ___ LISBON Debt-stressed Portugal's embattled government came under further political pressure as Parliament debated a motion of no confidence brought by a fringe party. The largest opposition parties refused to support the motion, dooming it to failure, but the debate was an unwelcome ordeal for the minority government as it defends its economic record. Markets are heaping pressure on Portugal, one of Europe's fee blest economies, as investors demand steep returns for lending the country money amid fears it may not be able to pay it back. ___ CAIRO International ratings agency Standard & Poor's downgraded Libya's sovereign rating to junk status and suspended its rat ings for the country. ___ BERLIN Germany froze billions of euros in assets of the Libyan Central Bank and other state-run agencies, the latest move internationally to attempt to cut off funding to Moammar Gadhafi's embattled regime. The German asset freeze came into effect just as the European Union announced that it was extending its own financial sanctions. ___ CAIRO With Egypt's stock market closed for nearly five weeks, analysts and bankers are growing increasingly worried that the full effect of the protests that ousted Hosni Mubarak will be even larger than anticipated. For the past few weeks, Egyptian officials have looked to downplay the potential damage to the economy. They said growth for the cur rent fiscal year may take a hit, but the Arab world's most populous nation would ride through the unrest. That is now being called seriously into question. ___ TOKYO Japan's economy shrank more than initially thought in the fourth quarter. Real gross domestic product contracted at an annualized rate of 1.3 percent in the October-December period, worse than the negative 1.1 percent growth reported last month. ___ SEOUL, South Korea South Korea's central bank raised its key interest rate for the second time in three months as it steps up efforts to control inflation that has risen to its highest level in more than two years. ___ BERLIN German train drivers left thousands of commuters stranded across the country with a rush-hour strike aimed at pressuring the state-owned national railway and smaller, private operators for higher pay. ___ CAIRO An official says that the six-nation Gulf Cooperation Council has pledged $20 billion in financial aid to Bahrain and Oman over a 10-year period as the two nations struggle with protests that have ravaged the Arab world. ___ MOSCOW U.S. Vice President Joe Biden said Thursday that Washington supports Russia's accession to the World Trade Organization because it will lead to greater trade between the two countries, what he called the "next frontier" of the relationship. G LOBALECONOMICNEWS/AP (AP Photo/Paul Sakuma STOCKRISING: In this Feb. 28, 2011 photo, a customer looks at two new 2011 Dodger Chargers at a dealership in Burlingame, Calif. Americans wealth grew 3.8 percent in the final three months of 2010, boosted by gains in stock portfolios. Companies, meanwhile, added to their cash stockpiles, which r eached their highest point in more than a half-century. Stocks lift household wealth while companies amass cash Archie Nairn, Permanent Secretary in the office of theA ttorney General, said that from its perspective,w hether prosecution of the businesses will occur is still to be determined. The matter is now under review. It hasnt yet beenc oncluded, but essentially physical planning wanted a l egal opinion (on how to proceed), said Mr Nairn. The most prominent digital billboards include Robin Hoods on Tonique Williams-Darling highway, and two bill boards whichh ave been erected on the corner of the Fox Hill/Prince Charles Drive junction and o n Shirley Street. Baha Mar o perates another digital billboard on Cable Beach, which its vice-president ofe xternal affairs, Robert Sands, says was erected with the permission of the Gove rnment. Sandy Schaefer, owner of Robin Hood, has previously stated that his company planned to fight the Hovernment order to take down the billboard, which providesa dvertising for Robin Hood and Marios Bowling, owned by his Tonique WilliamsDarling Highway store locations landlord, Leslie Miller. Planning moves on prosecution of sign owners FROM page 1B government procurement functions. Its an important g rant, and will go a long way to improving the internal tendering process for these works. It needs it. The project is designed to improve the Governments p rocurement system through the use of information and communications technology, creating a database of Bahamian companies who are eligible to participate in tendering processes, thus improving the access of small and medium-s ized enterprises to public sector contracts. The goal of this project is to contribute to the moderni sation of government procurement systems that will be more aligned to regional and international standards withn ew provisions for promoting the participation of medium and small and medium-sized enterprises, the IDB said. Government procurement is critical in developing/sustaining such businesses, and helping them to grow, and Mr Wrinkle said of the project: Its critical, particularly in light of the fact that these huge infrastructure projects are going to be awarded to international firms. It makes it more imperative that contracts can be awarded to Bahamian contractors, and that they are above board, transparent and involve the maximum number of parties. Adding that the Bahamas often seemed to live in crisis management, Mr Wrinkle said that some regularisation of the protocols and the form of tender process is necessary. The Government awards a lot of contracts during the course of a year, but more regularisation will help. The grant is very timely, and we will assist in any way possible. Govt tendering reform critical FROM page 1B

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BUSINESS T HE TRIBUNE FRIDAY, MARCH 11, 2011, PAGE 7B 52%(57:$6+,1*721 :,//,$06RI3%R[*UHHQZRRG3DOP 6DQGLODQGV9LOODJH%DKDPDV /(*$/,&(3(36,&2/$%$+$0$6f %277/,1*&203$1
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B USINESS PAGE 8B, FRIDAY, MARCH 11, 2011 THE TRIBUNE NEW YORK Grain prices fell Thursday after a government report eased concerns about shortages later this year. The U.S. Department of Agriculture predicted that corn and soybean reserves will be higher than initially estimated, forecasting there will be about 123.1 million metric tons of corn left over after this year's harvest. That's up from an estimated 122.5 metric tons in last month's report. There should be about 58.3 million metric tons of soybeans left over, compared with last month's estimate of 58.2 million. Corn for May delivery dropped 18.25 cents to $6.8275 a bushel. Wheat also fell 18.25 cents to $7.405 a bushel. Soybeans rose 6.5 cents to $13.555 a bushel. Lower reserves caused global grain prices to double this year. Corn was trading for just $3.50 a bushel as recently as this summer. But growing demand from ethanol producers and consumers in developing countries like China has stripped supplies. The government predicts corn reserves this year will be at their lowest level in 15 years. The longer-term trend for corn and soybeans will probably be higher, Sanow said, because global demand remains strong. But in the near-term, the recent run-up in prices is likely to ebb. The government estimates that food prices could rise more than 3 percent this year as processed food makers and grocery stores pass along higher costs for raw ingre dients. Still, crops like corn and soybeans account for just 10 percent of the raw ingredients used in processed foods. So it can take months for higher prices to reach consumers. Oil prices fell Thursday on weak economic news from the U.S. and China, but regained some of their losses on reports from Saudi Arabia that police had fired on demonstrators. Oil fell as low as $100.62 Thursday morning, the low est price in a week. The reaction to the Saudi development shows how sensitive the market is to news from the Middle East. Oil prices soared above $100 per barrel last week as an uprising in Libya essentially shut down the country's exports. Earlier in the day, economists were warning that the recent surge in fuel prices will eventually slow economic growth. The economic news helped cause the earlier oil selloff. China, which is expected to drive oil demand for years to come, reported overnight that surging oil and commodity prices produced a surprising trade deficit of $7.3 billion for February. FRANCESCA LEVY, AP Business Writers MATTHEW CRAFT, AP Business Writers NEW YORK Weak economic news from China, the U.S. and Spain combined with a slump in oil comp anies sent stocks sharply lower Thursday. Investors were jarred when China reported a surprise trade deficit in February. China's exports fell as businesses closed for the weeklong Lunar New Year holiday, but imports of higher-priced oil and other g oods jumped, widening the country's deficit to $7.3 billion. Meanwhile Moody's down graded Spain's debt, re-igniting fears about the European debt crisis. The downgrade also sent the dollar higher against the euro. News that forces loyal to L ibyan leader Moammar Gadhafi were poised to recapture the strategic oil port of Ras Lanouf from opposition forces sent oil down in the morning. But it jumped after Saudi Arabian police fired at protesters. In the late afternoon, crude oilw as trading below $103 a barrel, below the high of nearly $107 a barrel it reached on Monday. Stocks fell broadly, but energy companies were hit the hardest. Exxon Mobil Corp., the largest company in the world by market value, fell 3 percent. Chevron Corp. also fell 3 percent. Oil has been surging over the past few weeks because of the spreading protests in North Africa the Middle East. Libya produces less than 2 percent of the world's oil supply, investors have been worried that unrest will spread to major oil-prod ucing countries like Saudi Arabia and disrupt the flow of crude. The Dow Jones industrial average fell 204 points, or 1.7 percent, to 12,008. The Dow had been down as many as 224 points earlier, sending it brieflyb elow 12,000. Wal-Mart Stores Inc. and McDonald's Corp. were the only stocks in the Dow 30 that rose. McDonald's was up 1.6 percent after reporting that sales at restaurants open at least a year rose more than expected. The Standard & Poor's 500 index fell 21, or 1.6 percent, to 1,298. Energy companies fell 3 percent, the most of any industry tracked by S&P. The last time the index closed with a 20point drop was March 1, when Federal Reserve Chairman Ben Bernanke warned that a sustained increase in crude prices could pose a risk to the recovery. Only a handful of S&P 500 companies rose. Starbucks Corp. rose 10 percent after c ementing a deal with Green Mountain Coffee Roasters Inc. to sell drinks in machines made by Keurig. Netflix Inc. rose 4 percent. The Nasdaq composite fell 43, or 1.6 percent, to 2,708. Apart from several sharp swings in the last month, stocks have been rising nearly continuously since last August, when the Federal Reserve said it would take steps to stimulate the economy. Wednesday marked two years since stocks bottomed out at 12-year lows. Quincy Krosby, chief market strategist at Prudential, said the market was shaken by the combination of unexpectedly weak economic news from China, the downgrade of Spain's debt andc oncerns that protests planned for Friday in Saudi Arabia could bring instability to the world's largest exporter of oil. "The tone of the market has clearly changed," Krosby said. "The market trend had been to buy rather than sell and that bad news doesn't matter. The momentum is slowing." The government reported before the market opened that new applications for unemployment benefits rose more than expected last week and the trade deficit jumped in January. New unemployment claims rose by 26,000, far more than the 12,000 analyst had expected. Applications fell to nearly a three-year low the previous week. TAREK EL-TABLAWY, AP Business Writer CAIRO International ratings agency Standard & Poor's on Thursday downgraded Libya's sovereign rating to junk statusand suspended its ratings for the country. Also, the rebelled government in the nation's east said it would honor existing contracts with international oil companies. The twin developments spotlighted the challenges confronting an oil-rich nation that just weeks ago was well on the path to redemption after enduring years of sanctions as a pariah supporter of terrorism. S&P said it lowered its longand short-term sovereign credit ratings for Libya to BB/B from BBB+/A-2, and removed the ratings from CreditWatch negative. It also said it decided to suspend its ratings on Libya "due to the imposition of sanctions and because of a lack of reliable economic and political information." Stocks plunge on economic news and oil price swings (AP Photo/Seth Perlman, file FALLING PRICES: In this Sept. 11, 2010 file photo, central Illinois farmers har vest their corn crops near Monticello, Ill. U.S. reserves of corn have hit their lowest level in more than 15 years, reflecting tighter supplies that will lead to higher food prices in 2011. Increasing demand for corn from the ethanol industry is a major reason for the decline. (AP Photo/Richard Drew TOUGHTIME: Specialist Christopher Culhane works at his post on the f loor of the New York Stock Exchange Thursday, March 10, 2011. GRAIN PRICES F ALL ON FEWER SUPPLY WORRIES world BRIEFS S&P lowers and suspends Libya ratings CHRISTOPHER S. RUGABER, AP Economics Writer WASHINGTON The number of Americans seeking unemployment benefits rose last week. But the rise comes after applications hit their lowest level in nearly three years, and economists expect further declines as the economy improves. Applications increased by 26,000 to a seasonally adjusted 397,000 during the week ended March 5, the Labor Department said Thursday. The latest report covers the week after the Presidents' Day holiday (Feb. 21 government offices were closed. Applications usually rise in weeks following holiday-shortened weeks. The four-week average, a less volatile measure, rose to 392,250. The average fell to its lowest level since July 2008 two weeks ago. Applications below 425,000 signal modest job growth. But they need to fall consistentlyb elow 375,000 to signal a sustained decline in the unemp loyment rate. Unemployment benefit applications peaked during the recession at 651,000. Economists were encouraged that claims remained below 400,000 for the third straight week. "We still interpret thed ata as consistent with strengthening job creation," said John Ryding, an economist at RDQ Economics. A separate report Thursday showed that a sharp rise in oil prices helped push imports up at the fastest pace in 18 years in January. That caused the U.S.t rade deficit to widen to its largest level in six months. The January trade deficit increased 15.1 percent to $46.3 billion, the Commerce Depart ment said. Exports rose 2.7 per cent to an all-time high of $167.7 billion. But imports rosea faster 5.2 percent to $214.1 billion due to a big jump in America's foreign oil bill. That underscores concerns that surg ing oil prices could derail the economic recovery. Companies are hiring more, after months of sluggish job cre ation. Employers added 192,000 jobs last month, the most in nearly a year. The unemployment rate ticked down to 8.9 percent, the lowest level since April 2009. More jobs should boost incomes, which would fuel more consumer spending and in turn spur more econom ic growth and hiring. Federal Reserve Chairman Ben Bernanke referred to this cycle last week when he said there is "increased evidence that a selfsustaining recovery in consumer and business spending may be taking hold." At the same time, Bernanke said, "until we see a sustained period of stronger job creation, we cannot consider the recov ery to be truly established." Economists worry that several factors could slow or even reverse the recovery, including rising oil prices and state and local government cutbacks. Plenty of hiring is taking place. Kohl's Department Stores Inc. said Wednesday that it is opening nine stores in seven states, including Illinois, New York, Virginia and South Dakota. The move will create 1,200 jobs, the retailer said. Thursday's report also showed the number of people receiving unemployment benefits dropped by 20,000 to 3.77 million. That's the lowest level since mid-October 2008. And fewer people are receiving benefits under emergency unem ployment aid programs funded by the federal government. An additional 4.3 million unemployed workers received benefits under the extended programs during the week ending Feb. 19, a drop of about 200,000 from the previous week. US: MORE PEOPLE SOUGHT JOBLESS AID LAST WEEK TAREK EL-TABLAWY, AP Business Writer CAIRO Gulf Arab foreign ministers pledged $20 billion in financial aid Thursday to Bahrainand Oman, and warned against any foreign interfer ence as the oil-rich region struggles to rein in the unrest that has ravaged the Arab world and sent global oil prices spiking. The growing protests in Bahrain and Oman the poorer brothers in the oil-rich region have rattled the oth er members of the six-nation Gulf Cooperation Council, raising concerns that the unrest tearing through the Middle East will affect the key OPEC members. The GCC pledged $20 bil lion in aid over 10 years to be split between the two nations, said the United Arab Emi rates' foreign minister, Sheikh Abdullah bin Zayed Al Nahyan. A committee repre senting the donor nations will meet in two weeks to discuss the program. Foreign ministers from the GCC announced the measures after a meeting in the Saudi capital, Riyadh. The bloc also issued a statement warning that it would not allow any foreign interfer-ence in their affairs. GCC pledges $20 billion in aid for Oman, Bahrain AMSTERDAM A Dutch court Thursday ordered LG Electronics to release 300,000 Sony PlaySta tion 3s seized on its behalf by Dutch customs officials earlier this month as part of a patent dispute case. The summary decision by the Hague District Court was a short-term win for Sony, as it can now regain possession of the consoles and resume distributing them. But LG's aggressive pursuit of its claim was a sign of the high stakes both sides have in their wider intellectual prop erty war. The court did not immediately publish a written version of its ruling, but details were reported by De Telegraaf, the Netherlands' largest newspaper, and several video game fansites who had reporters at the hearing. Sony wins the release of PlayStations seized by LG INTERNATIONAL BUSINESS