N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R C M Y K C M Y K V olume: 107 No.30TUESDAY, DECEMBER 28, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER BREEZY WITH CLOUDS, SUN HIGH 73F LOW 62F I N S I D E M OTHEROFTHREEWINS$9,900 SEEPAGEFIVE Secret Sound winner I N S I D E SEEDETAILSONPAGESEVEN Win a weekend getaway with Tribune Trivia By AVA TURNQUEST T ribune Staff Reporter email@example.com D EVASTATED by the indiscriminate fire that consumed more than 100 wood en shanties on Boxing Day, n early all of the residents in the Haitian village off Carmichael Road are now homeless. With displaced families seeking shelter in cars and in some cases sleeping out s ide, less than 20 wooden s tructures remain in the area on Alan Drive known as Mackey Yard spared only by chance from the wind-driven blaze. Former residents, family members and onlookersw alked carefully through the sea of tin roofs and stillsmouldering remnants yes terday, as community lead ers attempted to organize the distribution of a sparse supply of vital goods and c lothing. P astor Celiner St. Louis of Gospel Assembly, lead organizer of the immediate relief efforts, said: We have started to carry some peo McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM ? Huge blaze leaves hundr eds homeless SEE page 11 Families seek shelter after Haitian village fire BRAVING icy temperatures and struggling with their costumes as gale force winds blew them down Bay Street paid off for the Saxon Superstars who beat out the Valley Boys to become the unofficial winners of the 2010 Boxing Day Parade with their theme Conquest of the Great Aztec Empire. While the Saxons celebrated their victory of the A Category, members of the Roots Junkanoo group were left devas tated after they were disqualified when they failed to make it out of the gate on time. Roots were scheduled to be the first group of the night and were supposed leave the gate at midnight. However, due to weather conditions, the group could not go out with some of their lead pieces. Rumours reportedly quickly began circulating that due to this Roots was disqualified. These rumours, according to group members, turned out to be false. With morale destroyed, the group then missed their midnight mark to come out of the blocks. By the time the group rallied to make an appearance S AX ONS ARE UNOFFICIALBOXINGDAYWINNERS BOXINGDAYPARADE: A Saxons member on Bay Street yesterday morning. The group, with their theme Conquest of the Great Aztec Empire, were the unofficial parade winners. MORE PICTURESONPAGES TWOAND15 SEE page two T i m C l a r k e / T r i b u n e s t a f f By TANEKA THOMPSON Tribune Staff Reporter firstname.lastname@example.org THERE will be no surpris es when the Memorandum of Understanding signed between Government and BTC buyer Cable & Wireless is released, said BTC Chair man Julian Francis, who added that all the relevant details have already been made public. Government signed the MOU with C&W on December 2 to purchase 51 per cent of the state-run telecommu nications company but have yet to release the document, despite pressure from unions and the opposition party. The Ingraham administration has said it is still finalising a business plan with C&W and once these details are negotiated they will be made public at least two weeks before Par liamentarians debate the issue. This is expected to happen by the end of the second week of January, 2011. Mr Francis, who has seen the MOU, said public statements from government and O SURPRISES IN BTC MEMORANDUM OF UNDERS T ANDING B y TANEKA THOMPSON Tribune Staff Reporter email@example.com BTC Chairman Julian Francis has challenged unionl eaders to a televised debate on the impending sale of the state-run utility company so that he can "shame them publicly." I wish Mr Evans and Mr C arroll would propose to me t o debate these issues on TV, I would be willing to do it and have both of them in front ofm e. I'm ready to shame them p ublicly anytime they're ready," Mr Francis told The Tribune. H is statements are part of an ongoing war of words between himself, Bernard E vans and William Carroll the leaders of the Bahamas Communication and Public Officers Union and the B ahamas Communications Public Manager's Union respectively. The union leaders believe the bidding process for poten tial BTC buyers was a sham," claiming that C&W was a favourite long before they were selected as the new owner of BTC. "Cable & Wireless didn't SEE page 12 SEE page 12 BTC CHAIRMAN IN TELEVISED DEBATE CHALLENGE TO UNION LEADERS AFTERMATH: Pastor Celiner St. Louis of Gospel Assembly surveys the damage. B AHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E
they were late by over an hour and were officially disqualified. Some Roots members, who said costumes were ripped off their dancers by the wind, expressed frus tration with the decision by Junkanoo leaders to go ahead with the parade despite the adverse weather conditions. The forceful winds, how ever, were more forgiving when it came to the other groups. The Saxon Superstars unofficially won the parade with 2328 points. They also won the Shirley Street Award, Best Costume, Best Music, Best Banner, Best Off-the-Shoulder and tied for Best Choreographed Dancers with One Family. The Valley Boys, with their theme of Let the Music Play Music Hall of Fame, placed second with 2294 points; they were fol lowed by One Family in third place, Music Makers in fourth and Prodigal Sons in fifth place. The Category B was won by Colours Entertainment, who were followed by Conquerors for Christ in sec ond and Redland Soldiers in third place. C M Y K C M Y K LOCAL NEWS PAGE 2, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FROM page one Saxons Boxing Day Junkanoo unofficial victory BOXINGDAYJUNKANOOPARADE TIMCLARKE/TRIBUNESTAFF V A L L E Y B O Y S C O L O U R S R O O T S R O O T S F A N C Y D A N C E R S S A X O N S
MEMBERS of The Tribune staff were shaken and outraged on Christmas Eve after a brazen thief snatched an employees purse in the newspapers parking lot. The swift action of concerned citizens and the police, however, led to the bandits apprehension minutes after he fled the scene, and the return of the purse. I feel it is terrible that on Christmas Eve someone would do something like that, one irate employee said. Around 8.45 am I reported to work, said the employee. By the time I reached upstairs waiting for the door to be opened I happened to look back outside and saw my daughter screaming in the yard and a male figure running across the street with my bag which I had left on the floor of the car. He ran in another parking lot. I went and screamed and called for help. There were people passing by who were able to answer to my call and continued to chase the gentleman across by Doctors Hospital, into the Chamber of Commerce yard and then into the museum yard where he was apprehended. The police were called. The police did a good job. They came quickly and I can thank God for grace and mercy, the employee said. An eyewitness identified as Reid stated, I didnt know what was going on when I heard the lady screaming. I saw the man running and I ran after him, he started throwing things out of the bag. Me and two other guys, we were able to get him. Assistant Commissioner of Police Hulan Hanna said that police have not seen a notable increase in purse snatching incidents this holiday season. C M Y K C M Y K LOCAL NEWS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM $11281&(6 THREE men were injured, one critically, during a shooting at a liquor store over the holiday weekend. T he incident occurred around 9.20pm on Christmas Day w hen a gunman reportedly opened fire on three men at the B Watts Liquor store located on Bethel Avenue. The victims two aged 33, the other 39 were taken to hosp ital in a private vehicle and by emergency medical personnel. Two are detained in stable condition and one is in critical con dition. P olice are questioning a 33-year-old man of Stapledon Gardens in connection with the incident. Investigations are also continuing into the stabbing of a teenage boy which took place on Christmas Day around 11pm. P olice said a 13-year-old boy got into an argument with another boy at the Queen Elizabeth Sports Centre and was stabbed in his left leg. The victim was taken to hospital in a private vehicle. He was treated and later discharged. A POLICE car chase early yesterday morning ended with a s uspect crashing into a sign post. The chase started around 3am when officers of the Traffic Division on routine patrol on Thompson Boulevard noticed the occupant of a silver coloured 1995 Nissan Pulsar, licence plate number 271916, acting suspiciously. Officers attempted to stop the vehicle, however, the driver sped off. T he police gave chase and caught up with the vehicle in the area of Yellow Elder Way, after the vehicle crashed into a sign post. O fficers conducted a search of the vehicle and recovered a handgun with ammunition and a quantity of suspected mari juana. The vehicles driver, a 22-year-old man of Sumner Street, Nassau Village, was taken into custody. T RAVELLERS were left stranded after flights from the Lynden PindlingI nternational Airport into New York and Boston were cancelled over the weekend due to heavy snowstorms affecting the East Coast of the United States. Flights into Newark Airport in New J ersey, La Guardia and JFK airports in N ew York and Logan Airport in Boston, Mass., were affected by the storm. Two airlines at LPIA, Jet Blue and Continental, which service the East Coast were forced to cancel flights because of the inclement weather. T he three-day snowstorm left the East C oast under several feet of snow. New York City was expected to be blanketed with about 20 inches of snow last night All airports in New York were closed on Monday because of the massive blizz ard with John F Kennedy Airport set to open at 4 pm yesterday. Travellers are advised to check the stat us of their flights with their airline carrier before heading to the airport. POLICE suspect that a three-year-old girl drowned in waters near Half Moon Cay in South Eleuthera. According to a brief report issued by Royal Bahamas Police Force Press Liaison Officers Sergeant Chrislyn Skippings, the child was found floating around 2.45 pm on Friday. Police did not release the little girl's identity or additional circumstances surrounding her death up to press time. Police on Eleuthera also remained tightlipped on the investigation when contacted by The Tribune. Police investigations continue. GIRL, 3, DIES IN SUSPECTED DROWNING CAR CHASE ENDS WITH SUSPECT CRASHING THREE INJURED IN LIQUOR STORE SHOOTING Swift action leads to apprehension of bag snatcher US weather cancels flights from Bahamas P EOPLE PASS TWO CITY BUSES t hat were both stuck in the snow, Monday, Dec. 27, 2010 i n the Brooklyn borough of New York. A powerful East Coast blizzard menaced would be travelers Monday. (AP
EDITOR, The Tribune. R e: Whole World needs a Leader like This! Will you kindly publish the f ollowing from Australias former Prime Minister Kevin Rudd: Muslims who want to live under Islamic Sharia law were told on Wednesday to get out of Australia as the governmentt argeted radicals in a bid to head off potential terror a ttacks. Separately, Rudd angered Australian Muslims on Wednesday by saying he supported spy agencies monitor i ng the nations mosques. Quote: Immigrants, not Aus t ralians, must adapt. Take it or leave it. I am tired of this nation w orrying about whether we are offending some individual or their culture. Since the terrorist attacks on Bali, we have expe rienced a surge in patriotism by the majority of Australians. This culture has been develo ped over two centuries of struggles, trials and victories by m illions of men and women who have sought freedom. We speak mainly English, not Spanish, Lebanese, Arabic, Chinese, Japanese, Russian or any other language. Therefore, if you wish to become part of our society, learn the language! Most Australians believe in God. This is not some Christian, right wing, political push, but a fact, because Christian men and women, on Christian principles, founded this nation, and this is clearly documented. It is certainly appropriate to display it on the walls of our schools. If God offends you, then I suggest you consider another part of the world as your new home, b ecause God is part of our culture. We will accept your beliefs, and will not question why. All w e ask is that you accept ours, and live in harmony and peaceful enjoyment with us. This is Our Country, Our Land, and Our Lifestyle, and we will allow you every opportunity to enjoy all this. But oncey ou are done complaining, whining, and griping about Our F lag, Our Pledge, Our Christian beliefs, or Our Way of Life, I highly encourage you take advantage of one other great Australian freedom, The right to leave. If you arent happy here then leave. We didnt force you to come here. You asked to be here. So accept the country you accepted. In conclusion I would rec ommend that some of our leaders take a stand like Prime Min ister Rudd. PAT STRACHAN Nassau December 23, 2010. EDITORS, The Tribune. IN 1958, I was sent by the Bahamas Government to study at the Westriding Detective Training School in Yorkshire, England. At that time the British still had capital punishment in their laws as the punishment for capital murder. As student detectives we had to memorise and discuss the murders that constituted capital murders. As I recall the killing: In the course or furtherance of a crime, eg rape, armed robbery, kidnapping and burglary, etc. A law enforcement officer in the execution of his duty or while trying to escape lawful custody. By the use of explosives; bombs, etc. By the use of poison. (Premeditated and planned After being previously convicted of murder (a second murder conviction), I think treason was also on the list. The British and the Europeans have eliminated capital punishment as the penalty for murder. Many persons in The Bahamas are yet to be persuaded hangings will sig-n ificantly reduce the spiral of crime in the country. Many argue that they are yet to see any empirical evidence that executions significantly reduce murder and crime rates generally and should not be seen as a universal remedy. Police officers discern hanging as being similar to a light house, which if not there several ships may be wrecked. Police records will reveal that several persons convicted for murder and not put to death have returned and killed again. Police officers cannot be blamed for their views as they are the ones who are exposed to the blood, gore, death and the wheeling at the scene. They are the ones, who become engaged in the tedious investigation required to bring the murderer to justice. I am a supporter of hanging for murder, but would recommend changes in the law to have two degrees of mur der, namely capital murder and murder, with the death penalty for the capital murders. It is also recommended, that the Director of Public Prosecutions consider using conspiracy to murder as an additional charge where applicable. There are those murder cases to be retried for which jurors may have convicted for conspiracy where a unanimous verdict is not the requirement. It is my humble view, which is shared by many, that the Privy Council will continue to obstruct hangings in the form er colonies of Britain. They are likely to support the British and European efforts t o abolish capital punishment. I am disappointed that The Bahamas still clings to the judicial system of the Privy Council of England, after being supposedly independent for nearly four decades. We are a part of CARICOM where the Caribbean Court of Justice is the final Court of Appeal (CCJ as I am aware we contribute financially to the court and to CARICOM. We have proven that we have the moral and intellectual capacity to run our own country, but we have no faith, that we can judge ourselves. There appears to be self doubt and unwillingness to take responsibility for our jurisprudential self-determination. In recent months there were hints in the British Parliament that the Privy Council deliberating on cases from abroad is a burden on the B ritish taxpayers. I t is also very well known that the Law Lords in London have commended our Caribbean Judges on judgments delivered and have reportedly stated that they are better suited to deliberate on such matters. It has been stated, that in order to be a fair judge history, cultural norms and other aspects need to be considered. The Law Lords are challenged to understand our behaviour in their societal context. The Bahamas is one of a number of Caribbean countries that have not yet aligned themselves with the CCJ. It is my humble opinion thata ppeals will be dealt with e xpeditiously and would be less costly. We served with honour. We remember with pride. PAUL THOMPSON Sr Nassau, December 20, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master L EON E. H. DUPUCH, Publisher/Editor 1903-1914 S IR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. P ublisher/Editor 1972Published Daily Monday to Saturday S hirley 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 Advertising Manager (242 C irculation Department (242 N assau Fax: (242 Freeport, Grand Bahama: 1-(242 W EBSITE w ww.tribune242.com updated daily at 2pm JUST AS THE Bahamas is on the cusp of an economic turn-around the unions are encouraging Bahamians to re-enact the 1958 general strike, which closed down business in New Providence for three weeks. One would have thought that Bahamians had suffered enough in the past year a nd a half to even be tempted to entertain s uch an irresponsible invitation to create c haos and further endanger their future. Those being invited to demonstrate should ask their union leaders when they pull this stunt who is going to put food on their tables, pay the school fees and clothe their children when they lose their jobs. Weh ope union funds are fat enough to take c are of their needs, because the private sector will certainly have no sympathy with their behaviour. Instead of getting out on the streets to flex their muscles, they should try to improve their service to the public in the hopes of saving their jobs. The taxpayers are paying for the inferior performance of too many of them and, therefore, are anxious to support a more efficient, dedicated civil service men and women who understand they are being paid by the public to serve them. There are many commendable staff in the ranks of all of the government corporations and departments, enough that if they were not daily dragged down by the shiftless could probably make a difference. But even they are condemned to carry too much dead weight. Mrs Jennifer Isaacs-Dotson, a PE teacher at the College of the Bahamas, who seems anxious to make a name for herself as the first woman president of the National Congress of Trade Unions of the Bahamas, said that in the near future union leaders will invite thousands of Bahamian workers from all walks of life to take a stand and together fight oppres sion and injustice by a none-caring government. Its easy to use such highfalutin, mean ingless language, it might be better if she spelled out how a government that has kept this country together over this perilous period is none-caring. While European citizens have taken to the streets in demonstrations against their governments because of the worlds economic collapse, our government has been able to keep the situation relatively calm which, of course, does not bode well for the Oppo sition winning the 2012 election. Although Mrs Dotson denies that the demonstrations are politically motivated all signs indicate that they are. A s Mr Ingraham told parliament earlie r this year the government has done and i s continuing to do all in its power to cushion and lessen the consequential hardship brought on by this global phenome non and to ensure that when it ends, as indeed it will, The Bahamas will be in a condition that it can benefit from the turn-a round. T his he has done and the New Year will see the opening one after the other of projects created to carry the Bahamian people to new horizons. This success is obviously too much for the Opposition to face. Is this why economic disruption is important at this time? We know that Mrs Dotson is a PE teacher at COB, but if she is to lead a union, we would suggest that she becomes acquainted with the law. She uttered some dangerous words last week that could bring her on a collision course with s. 75 of the Industrial Rela tions Act. Instead of her union filing a frivolous and unwinnable complaint against the Prime Ministerfor advising unionists of the consequences of walking off the job during an illegal strike, she should reconsider her words to the press that implied that the union movement could oust Mr Ingraham from his post at the next general election. Under the Industrial Relations Act section 75 (1aii Any strike is illegal if it is a strike designed or calculated to coerce the government either directly or by inflicting hardship upon the community. Mrs Dotson might be the first woman to head the National Congress of Trade Unions of the Bahamas, but she could also have her named etched into the history books as the first woman trade union leader to run afoul of the law. We advise her followers to disassociate themselves from her objectives. Dismayed we still cling to Privy Council LETTERS firstname.lastname@example.org Is union chief heading for collision with law? 127,&(LVKHUHE\JLYHQWKDW 75,6+$&2//,16RI6.,1( /$.(63%2;&%1$66$8%$+$0$6 LV DSSO\LQJWRWKH0LQLVWHUUHVSRQVLEOHIRU1DWLRQDOLW\DQG &LWL]HQVKLSIRUUHJLVWUDWLRQQDWXUDOL]DWLRQDVFLWL]HQRI7KH %DKDPDVDQGWKDWDQ\SHUVRQZKRNQRZVDQ\UHDVRQZK\ UHJLVWUDWLRQQDWXUDOL]DWLRQVKRXOGQRWEHJUDQWHGVKRXOGVHQG ZULWWHQDQGVLJQHGVWDWHPHQWRIWKHIDFWVZLWKLQWZHQW\ HLJKWGD\VIURPWKH V '$< RI 'HFHPEHU WRWKH 0LQLVWHUUHVSRQVLEOHIRUQDWLRQDOLW\DQG&LWL]HQVKLS3%R[ Our leaders should take stand like Australias former Prime Minister Rudd EDITOR, The Tribune. I was pleased hearing from the Prime Minister that he thought it was time to amend the Rules and process for responding to government Tenders he is right but the solution has to be totally, I suggest, transparent. There is no doubt that we have to urgently established a Freedom of Information Act there is no reason why in 2010 that the public has to go through so many hurdles, many many times still denied asking basic fundamental questions of the gov ernment. Secrets breed corruption and there is enough evidence that our long established pirating spirit is retained in our genes so throw the door open and light up the floodlights so everything is public information. There is no doubt that any further process to privatize BEC, Water & Sewerage and anything else of that nature cannot be developed under the current process again it has to be on the table, totally transparent and supported by a team of inde pendent experts. It is sad that we did not seemingly learn from the process of Cable Bahamas and here we are going into BTC and nothing changed. I hope your publication will champion Freedom of Information immediately with the highest priority, no excuses if as small a place as Cayman can have it why do we refuse to have one? My answer to that is simple why change? Lets keep every thing hush hush secret. W THOMPSON Nassau, December 16, 2010. Fr eedom of Information Act needed urgently
B y DENISE MAYCOCK T ribune Freeport Reporter email@example.com F REEPORT Several housebreakings were report-ed over the Christmas holi day in the Eastern and Cen t ral Divisions on Grand Bahama, police reported. Asst Supt Loretta Mackey said police received reports of seven house breakings and two attempted housebreakings in the Freeport area. Ms Mackey said the break-ins occurred around noon and 8pm when persons w ere not at home. The police are encouraging home-owners to prop erly secure their homes and put valuable items away such as jewellery, cash, cell phone, laptops, she said. Ms Mackey said residents should call the police if they observe suspicious persons in their neighbourhoods walking, riding a bicycle, or driving slowing in the residential areas. She said residents should get a good description of vehicles, and the clothing of suspicious individuals that they see. They are asked to call 911 or Eastern Division at 3731112 or 374-3713 ; High Rock Police Station at 3535499 ; Central Division at 350-3138 ; Airport Division at 352-5352 ; Bazaar Station at 351-4156 ; Eight Mile Rock Division at 348 3444/5 and West End Division at 346-6444 FIRE The Fire Department is continuing its investigation into a house fire that occurred in Pinedale, Eight Mile Rock on Friday, December 24. Ms Mackey reported that a single story wooden structure was fully engulfed in flames when firemen arrived. Although the fire was extinguished, the build ing was destroyed. She said no one was in the building at the time of the fire. Police reported a total of e ight traffic accidents over t he Christmas weekend. Only one person was injured and taken to hospital, where they were treated and dis charged. A SP Mackey said m otorists should drive with care and caution. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM x xChairs Chairsx xT ables Tablesx xBenches Benchesx xUmbrellas Umbrellasx xLoungers Loungersx xDrinks Trolleys Drinks Trolleysx xCoffee Tables Coffee Tablesx xEnd Tables End Tablesx xCushions CushionsT T h h e e J J a a v v a a G G a a l l l l e e r r y y T T h h e e J Ja a v v a a G G a a l l l l e e r r y yWongs Plaza Madeira St. W ongs Plaza Madeira St. T el: (242 T el: (242)326 2 335 2 335Outdoor Elegance Outdoor Elegance A MOTHER of three w ho became unemployed on Christmas Eve was the lucky winner of the latest 100 Jamz Secret Sound promotion. Brittney Seymour guessed the sound for a p rize of $9,900 in cash, just i n time for the holidays. A s caller number 17, Ms Seymour had an opportunity to reveal the sound during deejay Realitys show on the evening of Thursday, December 23. It was then that she s olved the mystery a k nife rubbing against the side of a wine glass. W hen Reality congratul ated her, Ms Seymour was o verwhelmed by emotion. Ms Seymour could be heard on air screaming at t he top of her lungs while explaining to those around her the reason for her insanity. O n the way to collect her cheque on Christmas Eve, M s Seymour was given bad n ews. She and her co-workers had been laid off from work because the company where they worked was closing. Now unemployed, the w innings will help Ms Seym our care for her three d aughters until she finds a job. She said she plans to manage the money wisely, saving most of it and avoiding those who are already making demands. Ms Seymour won the S ecret Sound during the f ifth week of the promotion. Since the ultimate j ackpot was $17,000, 100 J amz listeners will still h ave a chance to play and win at the start of the new year. $9,900 sounds good to lucky winner of 100 Jamz promotion Mother of three wins radio stations Secret Sound Housebreakings in Freeport over the holiday period SECRETSOUND: Empress, a 100 Jamz deejay (l Seymour with her $9,900 cheque.
TWO memorial services will be held in celebration of the life of Wayne Lowe, who died on Christmas eve Friday, December 24 after a brief illness. The first service will be held on Thursday at 2pm at Trinity Methodist Church, Frederick Street in Nassau and the secondatEpworth M ethodist Chapel, Cherokee Sound, Abaco, on Monday, January 3, 2011 at 3pm. W ayne Richard Lowe was born in Nassau on Wednesday, November 7, 1928, the l ast of the three children of J ames R and J Valeria Lowe. He completed his schooling at Western Senior School after a stint at Whale Cay All Age School whenh is father worked there for Miss Betty Joe Carstairs, renowned woman speedboat racer and owner of the cay. Mechanic A mechanic by trade, he started his career at Water Works under Mr. Jack Cole. Moving on to Neil Brothe rs, working with his uncle B ernard Malone as an electrician, he then returned to the car business at Central Garage with his dear friend Mark Murray. He settled in for several y ears in the late 1960s and early 1970s with Neville Roberts and his varied companies, both in Nassau and Marsh Harbour, Abaco. One of the projects of which he was most proud was the c onstruction of the cement silos at Clifton Pier. In 1972 he joined Nassau M otor Co. Ltd with his life long friend, Roy Smith, eventually becoming its M anaging Director until his d eath. I n 1945 Wayne met the love of his life, Phyllis (nee Higgs) and they were marr ied on May 3, 1949. They remained inseparable for 61 y ears. He was pre-deceased by his parents, brother Murphy, sister Mizpah Collins and grandson Brian Pinder, son-in-laws, Jeffrey Sands and Derek Albury. He iss urvived by his wife Phyllis, daughters Julie Cates, Linda Albury, son Richard (Rick son-in-law James Cates, daughter-in-law Joanne Lowe, grandchildren, Cameron Sands, Randy Pind er, Christopher and Matthew Lowe, Brant and Craig Albury, granddaught ers-in-law, Amy Sands, Heather Pinder, Kate Lowe and Judy Albury. Great g randchildren, Kirstie A lbury, Rhiannon Pinder a nd Wyatt Sands and many other nieces and nephews, in-laws, relatives and f riends. The family would like to o ffer special thanks to Dr. Wesley Francis, Dr. Leander Moncur, Dr. Duane S ands, Dr. Sheena AntonioCollie, Dr. Patrick Cargilla nd the ICU and IMCU n urses and patient care technicians at Doctors Hos-p ital. C M Y K C M Y K LOCAL NEWS PAGE 6, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Invite applicants for participation in theELIGIBILITY REQUIREMENTS: THENATIONAL INSURANCEBOARDJEMI HEALTH & WELLNESS AND BODY ZONE FITNESS GET WELL BAHAMASis 40 FREE OF CHARGE: APPLICATION FORMS APPLICATION SUBMISSION DEADLINE: SELECTION PROCESS PRIZES: First Prize Second Prize Third Prize GETWELLBAHAMASisfundedbythe Healthy People component of The National Prescription Drug Plan. Two memorial services to be held for Wayne Lowe W AYNE LOWE d ied on Friday. MEMBERS of a five-man freighter crew are expected to be charged with human trafficking when the courts reopen this week after they were stopped by the D efence Force on Christmas Eve w ith suspected Dominican Republic nationals onboard. M embers of the Royal Bahamas D efence Force Dauntless P-49, com manded by Acting Sub Lieutenant Byron McClain, responded to a call last Friday from a vessel in the vicin i ty of Hope Town, Abaco claiming to be disabled. The officers boarded and searched the 65-foot wooden freighter and found 24 persons suspected of being Dominicans onboard. They were unable to produce proper documentation and were c onsequently arrested by the RBDF a nd taken to Marsh Harbour where they were turned over to the police. Cr e w T he vessels five crew members a re expected to be charged with human trafficking and the 19 pas-s engers for illegal entry into the B ahamas. The Defence Force also apprehended a group of 80 Haitians over the holiday weekend. The crew of the Defence Force vessel Enduring Friendship EF-130, c ommanded by Petty Officer Lucitas G reene, responded to intelligence received from the US Coast Guard a bout the possible sighting of a Haiti an sloop on Sunday afternoon. An unsanitary sailing sloop was found and boarded some six miles southwest of Mathew Town, Inagua. T he Haitians onboard 65 men, 11 women and four children were handed over to the US Coast Guard to be taken back to Haiti. Freighter crew members expected to be charged with human trafficking
T HE Tribunes website Tribune242.com is starting off the New Year with abang. Beginning on Tuesday, January 4, readers who like The Tribune News N etwork on Facebook will g et a chance to win a fabul ous weekend getaway EACH MONTH. All you have to do is log on to Facebook, search for our Facebook page www.Facebook.com/Trib une242 and click Like. T hen be sure to read T he T ribune e very day and play T RIBUNE TRIVIA We have teamed up with Dollar Rent A Car who are offering a fantastic prize package, including airfare for one to Miami, a one-day car r ental and a night in a hotel. Every week day at 3pm, the team at The Tribune and T ribune242.com w ill post a q uestion relating to a story in t hat days newspaper. The a nswers can be found by r eading the stories in the n ewspaper and online. The first three readers to e mail the correct answer, along with their full name, will receive points. The first c orrect answer to hit our Trib uneTrivia@tribunemed ia.net inbox will get three p oints. The second person t o respond correctly will get t wo points and third in will g et one point. Each days winners will be recorded on the monthly tally sheet and at the end of each month one person will walk away with the grand prize. T ribune Trivia is open o nly to residents of the B ahamas. In the event of a tie, the prize will go to the person who received the most first place wins that month. The tally sheet will be wipedc lear on the first day of each m onth. T he question, the correct a nswer, and the names of the three winners will be published the following day in The Tribune Good luck! THE WATER and Sewerage Corporation hasd enied claims by the PLP that the water it is supplyi ng poses a serious health i ssues for Abaco residents. While the Corporation ( WSC) conceded that the w ater it is supplying to Grand Cay, Abaco has high levels of hydrogen sul fide (H2S d uces a foul odour this is something that primarilyaffects only the aesthetics of the water. H2S is a gas with a characteristic foul odour, often a result from theb reakdown of organic mat t er found in local geologi cal formations in the absence of oxygen. H2S is a common natural feature in groundwater in the Bahamas, and approximately 30 per cent of the feedwater wells used by SWRO plants in the islands have been impacted b y its presence. In all these cases treat ment makes the water aesthetically acceptable, the WSC said. In a press statement released last week, PLP chairman Bradley Roberts said that to classify the water supplied to Grand Cay by the WSC as safe is a criminal and grave insult to the residents. Dec lar ation He was responding to Minister of State for Public Utilities Phenton Ney mours declaration that the water is safe. The people of Grand Cay have been burdened with very serious health issues for a month, said Mr Roberts. The WSC said in response that Mr Roberts statements are inaccurate and misleading. In a press statement released last Wednesday, Mr Neymour rebutted earlier accusations by the Opposition party describ ing the new reverse osmo sis plant in Abaco as a dis aster and disgrace as the RO water produced is smelly and foul. Mr Neymour said the H2S which is responsible for the foul odour is con sidered a minor issue in the sea water reverse osmosis (SWRO easily managed. The State Minister added that newly installed equip ment by the company Watermakers has started the process of stripping the H2S from the source of water and that the quality was gradually improving as a result. The WSC added that it remains confident that the efforts to increase the oxyg en levels in the water, and thus decrease the H2S experienced, will be suc cessful. The corporation said the matter should be fully resolved by the end of this w eek. Additionally, the drill r ig shall remain at site should there be a need for additional drilling, the WSC said. However, Mr Roberts suggested that if there was n o problem with current water supplies there would be no reason to use alter native sources. If the water was safe to use, why switch the supply well? he asked. M r Roberts further chall enged Prime Minister H ubert Ingraham and Min ister Neymour to have the water delivered to them and publicly make a statement of the waters good quality by drinking it. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Water and Sewerage denies PLP claims over Abaco supply Win a weekend getaway with Tribune Trivia F R I D A Y D E C E M B E R 2 4 2 0 1 0 P R I C E 7 5 ( A E R N N Y A N D E E Z Y7 4 F 6 3 F T h e T r i b u n eT H E P E O P L E S P A P E R B I G G E S T A N D B E S TL A T E S T N E W S O N W W W T R I B U N E 2 4 2 C O R EAD T he Tribune e very day and play TRIBUNE TRIVIA. W ATERSUPPLY: P henton Neymour and Bradley Roberts HAVANA CUBAhas honored the celebrated ballerina and National Ballet director Alicia Alonso with its top award for arts instruction, according to A ssociated Press. The 90-year-old prima ballerina assoluta received this year's National Prize for Artistic Teaching at a ceremony Monday in a woodfloor studio at the ballet's headquarters. Alonso said she was touched. She told admirers, journalists and dance students that "the most wonderful moment in life is when one can teacho thers what one has learned." Alonso rose to stardom with the American Ballet Theater. She has led the Cuban National Ballet for decades, despite being nearly blind. Cuban ballerina Alonso gets top teaching prize Share your news T he Tribune wants to hear f rom people who are making news in their neighbourhoods. Perhapsy ou are raising funds for a good cause, campaigning for improvements in the area or have won an a ward. If so, call us on 322-1986 and share your story.
BySIR RONALD SANDERS (The Writer is a Consultant and former Caribbean diplomat) A S THE sun began to s et on the closing days of 2 010, Caribbean Airlines Ltd (CAL owned by the government of Trinidad and Tobago, has been the major headline story in Trinidad andT obago. It is a story that has serious implications for the operations of Air Jamaica and, once again, makes a regional airline an elusive ambition. There has been a very public squabble between the Minister of Transport and powerhouse, Jack Warner, and the newly appointed Board of Directors of CAL. The squabble is a turf war over who makes decis ions for the airline. Warne r has proclaimed that e ither he or the Board must go and that the gov-e rnment must make a choice. A t issue is whether the n ew Board of Directors h ad the authority to reevaluate a major decision, which had been made byt he airlines CEO in the absence of a Board of Directors after the old one had resigned, to purchase a dozen turboprop aircraft to replace and expand its fleet which services the Trinidad t o Tobago air bridge. T he CEO, Ian Brunton, s ought and received Cabin et approval to proceed w ith the transaction which h ad not been finalized by the time the new Board was appointed although a good faith deposit had been paid to the aircraft manufacturer. Enter, then, the new B oard which took the view that the decision to spend a quarter of a billion US d ollars should await its o verall review of the air l ines strategic plan to ensure that the aircraft chosen and the numbero rdered were compatible with the plan. The public squabbling became so frenzied thatP rime Minister Kamla Per sad-Bissessar and the Attorney General have imposed a time out ont he issue in an effort to find a solution. This summation of the p ower struggle over CAL s ets the scene for the trou bling reason for this Com mentary which is: What are the implications for AirJ amaica and the notion of a single Caribbean-owned airline? The CAL Board of Directors in a Press Release on December 12 raised the possibility that C AL might not proceed w ith its acquisition of Air Jamaica. This represents a huge change on the part of Brunton, the CEO, who in a newspaper article on November 11 reaffirmed his support for CALs acquisition of Air Jamaica and went further to say that it was part of CALs mandate to have one Caribbean airline which included LIAT, the carri er owned by the governments of Antigua and Barbuda, Barbados and St Vincent and the Grenadines. Brunton is no longer the CEO. Dismissed by the Board, he is collateral damage in the ongoing turf war and is seeking his own redress. After the May 24 gen eral election that swept in the new, coalition government, the Minister of Finance, Winston Dookeran appointed a Cabinet sub-committee to assess the Air Jamaica acquisition which had been concluded on April 30, 2010 and was in effect for an interim period of one year. The Reports analysis, conclusions and recommendations were not made public but were apparently accepted by Cabinet as defining a way forward for CAL, including the Air Jamaica acquisition. Thus, while in Jamaica in early July for a Caribbean Community (CARICOM Government Conference, Prime Minister PersadBissessar discussed the Air Jamaica acquisition direct ly with Bruce Golding, her Jamaican counterpart, and declared that: "When you put the pros and the cons C M Y K C M Y K PAGE 8, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Waiting to hear from Trinidad WORLDVIEW
C M Y K C M Y K T HE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Practical or Luxury? C-CLASS ML-CLASS E-CLASS Tyreflex Star MotorsCall us today for your new Mercedes-Benz at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 You may ask the question: Is it practical t o own a Mercedes-Benz or is it a luxury? W ell, Mercedes-Benz would like to ask y ou a question. Are excellent gas mileage, top safety standards and superior driving technology considered a luxury? Mercedes-Benz doesnt think so and you shouldnt either. You deserve to get the most out of your gas dollar. You and your family deserve to be safe a nd comfortable when maneuvering t hrough our nations less-than-perfect r oadways. Thats why these features and so much more come standard in every class and model of Mercedes-Benz. So do something practical while still enjoying the best of life become an owner of a beautiful new Mercedes-Benz today. t ogether, the bottom line from our review is that it w ould be advantageous to J amaica and Trinidad and T obago to honour the a greement." and continued in every business vent ure there are risks, but we did the risk analysis andthe bottom line is we d ecided to go ahead with the deal. The Jamaican government assumed all the liab ilities of the airline and CAL assumed the financial risk of the continuing Air J amaica operations from M ay 1, 2010, receiving any e xcess of revenue over expenses or covering anys hortfall. T his first stage was to last for a year until April 30, 2011 to give CAL the opportunity to plan for the second permanent stage which is the full integration of the Air Jamaica operat ions into its system at w hich time it would formally assume ownership of t he Air Jamaica assets r equired for those operations, be designated as a Jamaican national airline, and have the right to theu se of the Air Jamaica brand. As part of the overall a rrangement the Government of Trinidad and Tobago was to invest US$50 million in new equit y capital into CAL to fund t he transition and integration, and the Government of Jamaica was to receive a1 6 per cent equity interest in the new CAL with the right to appoint one member to its Board of Direct ors. Until April 30, 2011, CAL has the right to term inate this arrangement o n minimal notice at its o ption with no apparent p enalty. After the publicly d eclared July go-ahead f rom Prime Minister Per s ad-Bissessar, the integration of the two airlines appeared to be proceedings moothly: joint ground operations at Toronto and Fort Lauderdale, a new joint ticket office in Jamaica, direct flights on CAL aircraft from Kingston to Toronto all a s expected: numerous s mall, visible incremental s teps with more going on behind the scenes. I n public, the CAL CEO talked up the Air Jamaica acquisition and its prospects for a future thatw ould see CAL grow by further such acquisitions, including that of LIAT, into the Caribbean Region-a l Airline for the entire CARICOM Caribbean. So, what has transpired b etween the Persad-Bissess ar announcement in Jamaica on July 8 that she was very happy toa nnounce that we are going to be partners, definitely when it comes to Air Jamaica and Caribbean A irlines and the suggestion by the CAL CEO to the new CAL Board on N ovember 11 that it s hould not complete the A ir Jamaica transaction? T he government of Jamaica and Air Jamaica h ave been proceeding on t he basis of the written a greement with the Trinidad and Tobago government and the publicd eclaration of Prime Minister Persad-Bissessar who personally made the com mitment to a partnership between Air Jamaica and CAL. Her personal credibility h as been thrust on the line i n this matter, and she s hould not let this year close without urgently end-i ng the doubts and con cerns over Air Jamaica and the prospects for a region al airline created by thes truggle for power over CAL. Responses and previous c ommentaries at: www.sirronaldsanders.com Prime Minister on Air Jamaica SIRRONALDSANDERS T T h h e e r r e e h h a a s s b b e e e e n n a a v v e e r r y y p p u u b b l l i i c c s s q q u u a a b b b b l l e e b b e e t t w w e e e e n n t t h h e e M M i i n n i i s s t t e e r r o o f f T T r r a a n n s s p p o o r r t t a a n n d d p p o o w w e e r r h h o o u u s s e e , J J a a c c k k W W a a r r n n e e r r , a a n n d d t t h h e e n n e e w w l l y y a a p p p p o o i i n n t t e e d d B B o o a a r r d d o o f f D D i i r r e e c c t t o o r r s s o o f f C C A A L L . T T h h e e s s q q u u a a b b b b l l e e i i s s a a t t u u r r f f w w a a r r o o v v e e r r w w h h o o m m a a k k e e s s d d e e c c i i s s i i o o n n s s f f o o r r t t h h e e a a i i r r l l i i n n e e .
C M Y K C M Y K LOCAL NEWS P AGE 10, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM C APTAIN Tellis Bethel of the Royal B ahamas Defence Force (RBDF ly returned home after successfully completing the United States Defence Institute for Medical Operations HIV/AIDS Planning and Policy Development Course. The purpose of the course was to e nhance the ability of senior civilian offic ials and military leaders to develop, implement and strengthen the effectiveness of HIV/AIDS policies for their militaries. Specific topics included: HIV and the M ilitary; Department of Defense Policy on HIV/AIDS; Counselling and Testing, and Gender, Security and Peace Buildi ng. C ountries throughout Asia, Africa, Cent ral America and the Caribbean region were represented at the course. Learning T he courses faculty of experts combined lectures with group discussions, c lassroom exercises and presentations on c ountry specific issues to create a shared l earning experience, highlighting best p ractices and concerns pertaining to H IV/AIDS prevention, treatment and c are. Captain Bethel was also awarded a diploma on completion of the course, which was held from December 5-10. Throughout the month of November, 300 RBDF members participated in a HIV/AIDS awareness, prevention and e ducation programme as a part of the Defence Forces healthy lifestyles strategic objective. T he programme was a collaborative e ffort between the US Defence Institute f or Medical Operations, the Bahamas AIDS Foundation and the Bahamas AIDS Secretariat, and was coordinatedb y the Office of Defence Security Cooperation at the United States Embassy. C aptain Bethel is a Deputy Commander o f the Defence Force with responsibility f or the coordination of HIV/AIDS awareness and educational programmes within the Defence Force in conjunction witht he Forces medical officer, Senior Com mander Francis Saunders. Defence Force officers receive HIV/AIDS training TRAINING: Captain Tellis Bethel
C M Y K C M Y K LOCAL NEWS T HE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ple but we cannot pick up everybody. So right now we are just bringing water, clothes and shoes, for those who have nothing. F ire services have yet to i dentify the origins of the blaze investigations are continuing however it isb elieved to have started in a single structure near theback of the lot sometime around 10:30am. D ue to the gale force w inds, which exceeded 30 miles an hour on Sunday, the fire ripped through thec losely juxtapositioned ply wood homes. Struggling against inclement weather and thed ensely packed structures, 1 5 firefighters and four trucks battled the flames for over eight hours. Pastor St Louis added: There was plenty fire, so people lost passports, work permits, residence, people lost everything. So right now, whatever you can do for these Haitian people please do the best you can. For over 100 families, most of whom were at church as the fire raged early Sunday afternoon, the overwhelming need is shel ter from the below 60 degree weather which is forecast to continue this week along with more high winds. E ach structure was estimated to have at least four p ersons in them two of whom were under the age of 16. One resident, whose home had been spared, said: I was shocked, I never k new it would have come back this far, all the houses from the back straight to the front street. I think the fire f ighters did the best they could, and they worked very hard yesterday. Its just thatw here the houses were so close, they couldnt get to do what they came to do. They had to start breakingh omes just to get to the f ire. Alexander Thurston, 61, came to the area to searchf or his friends and view the aftermath firsthand. Mr Thurston said: Ive n ever seen something like t his in my lifetime not in t he Bahamas. Something like this, this is tragic I dont understand this. One fire and couple hours time the whole place is swept, this is very poor. These people came here to get a better life and now this, its like they cant get a break on any front. Where do we go from here? Persons interested in donating water, food, or clothing to relief efforts are encouraged to contact Pastor St Louis at 426-7414. S CENESOF THE DEVASTATION a fter the fire at the Haitian village off Carmichael Road. The fire consumed more than 100 w ooden shanties on Boxing Day Huge blaze leaves hundreds homeless FROM page one
HAMID AHMED, Associated Press BAGHDAD T wo suicide bombers blew themselves up Monday front of a government office in Iraq's western Anbar province, killingn ine people including family members of security officials who were killed in another bombing at the same place less t han a month ago, security offic ials said. Insurgents frequently go after Iraqi government targets in an effort to destabilize theU .S.-backed Iraqi authorities, as American troops prepare to leave by the end of next year. The Anbar provincial headq uarters has been a particularly favorite target. It has been attacked four times in the span of a year, including an explosion in which the governor lost a leg. Many of the people killed and injured in Monday's violence were family members of police and soldiers who died D ec. 12 at the same location in a nother suicide blast. The family members were at the provincial headquarters to receive compensation for their losses, s aid Mohammed Fathi, a spokesman for the Anbar governor. Policemen H e did not know how many of the dead were family members but said three policemen were killed in the Monday suic ide attacks. The first blast occurred when a suicide bomber drove a minibus packed with explosives i nto the entrance of the main government compound of Ramadi 70 miles (115 kilometers) west of Baghdad, Fathi said. As people gathered to o bserve the destruction, anoth er suicide attacker detonated h is explosive vest in their midst, said police and hospital offic ials. The officials said besides the dead, 50 people were injuredby the blasts. Consecutive blasts meant to c atch bystanders and rescue personnel have become a hall m ark of al-Qaida's tactics in Iraq in the past few years. T here was no immediate claim of responsibility for the double attack, but Fathi blamed it on al-Qaida. Mosques across the city called on residents to donate blood, in a sign of the severity o f the injuries. Ramadi is the seat of the A nbar provincial government and used to be a stronghold of al-Qaida. Recently, local militias have managed to bring a measure of calm to the city andp rovince, a drop in violence t hat has also been seen across the country. The suicide bombings were the first major attacks since P rime Minister Nouri al-Maliki's new government was appointed last week. Al-Maliki's success has been in large partd ue to the fact that violence has d ropped significantly during his tenure. Attacks like Monday's are a sign that rooting out alQaida-linked militants is a cont inued challenge. The Ramadi complex, which h ouses various government agencies, including the govern or's offices, has been bombed twice this year. In July, a female suicide bomber blew herself up at a reception room outside the gov e rnor's office. Earlier this month, a suicide b omber exploded outside the office complex, killing 17 peop le, including women and elderly people waiting to collect welfare checks. The Islamic State of Iraq, an al-Qaida front group, claimed r esponsibility for a December 2009 bombing of the same com p lex. Anbar's Governor, Qasim al-Fahadawi, lost a leg in that b last. In a separate incident Monday, three members of the same family were killed when a roadside bomb hit their car outside t he town of Dujail, 50 miles (80 kilometers) north of Baghdad. A 1-year-old child was also injured in the blast, police and h ospital officials said. All officials spoke on condi tion of anonymity because they were not authorized to speak to reporters. C M Y K C M Y K INTERNATIONAL NEWS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 13 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Twin suicide blasts kill nine in western Iraq BRIAN MURPHY, Associated Press D UBAI, United Arab Emirates Corruption charges against one of Mahmoud Ahmadinejad's most trusted political advisers p rovided the latest evidence of deep rifts within t he Iranian president's own conservative political camp. The challenge by Ahmadinejad's rivals one of them the head of the judiciary could set the tone for a bitter fight leading up to the next b ig political moment in Iran, parliamentary elections less than a year away. "This case isn't going to bring down Ahmadinejad, but it may get very ugly," said A bdulkhaleq Abdulla, a regional political analyst a t Emirates University. "It's a commentary on the troubled state of Iranian politics at the moment." Ahmadinejad has faced a growing internal backlash from conservative leaders including i nfluential parliament speaker Ali Larijani. They are upset by the president's combative nature and deepening links with the vast military-economic network run by the Revolutionary Guard, I ran's most powerful force which led the crackdown on the reformist movement after Ahmadinejad's disputed re-election last year. The political infighting escalated earlier this m onth when Ahmadinejad suddenly dismissed his longtime foreign minister, Manouchehr Mottaki, a close ally of Larijani. Many lawmakers and others denounced the move as further evidence of Ahmadinejad's steamrolling style. Hed umped Mottaki in apparent retaliation for disagreements that included control over foreign ministry posts. Shortly after Mottaki's firing, the judiciary headed by Larijani's brother announced the corruption allegations against First Vice President Mohammad Reza Rahimi. T he charges could do more damage to Ahmadinejad and the reputation he has cultivated as aloof from Iran's powerful financial clans and foundations, many run by the Revolutionary Guard. The developments revealed the increasingly complex political maneuvering within the Islamic Republic as it struggles with economic sanctions and growing international pressure to curbi ts production of nuclear fuel. The judiciary last week said Rahimi is facing corruption charges that need to be investigated and will have to stand trial. The details of the a ccusations against him have not been made public since. Rahimi quickly denied the charges and was expected to present his side at a news conference, possibly later this week. On Monday, Ahmadinejad's office came to Rahimi's defense, saying that his complaints against the accusations should be investigated, the official Islamic Republic News Agency reported. But the rumblings have been coming for m onths against Rahimi, whose position as the top of 12 vice presidents gives him authority to meet visiting prime ministers and other dignitaries and lead Cabinet meetings in Ahmadinejad's absence. Some of Ahmadinejad's political foes have frequently taken pot shots at Rahimi with allegations of financial misdeeds since a major government-linked embezzlement probe opened in April. IRAN CORRUPTION CLAIMS STOKE POLITICAL INFIGHTING (AP Photo DEATHSCENE: A U.S. army soldier inspects the scene of two suicide bomb attacks in Ramadi, 70 miles (115 kilometers Iraq, Monday, Dec. 27, 2010. Two suicide bombers blew themselves up on Monday, killing and wounding scores of people at the government compound in the provincial capital of Ramadi, officials said.
C M Y K C M Y K INTERNATIONAL NEWS PAGE 14, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM DEEPTI HAJELA, A ssociated Press S AMANTHA HENRY, Associated Press NEW YORK P lanes began landing again Monday at one of the nation's busiest airports after a blizzard clobbered the Northeast with m ore than 2 feet of snow and c losed the New York metropolitan area's three airports, stranding thousands of travelers trying to get home after the holi days. A Royal Jordanian flight was the first to arrive at John F. Kennedy International Airport, s hortly before 7 p.m., said Steve Coleman, of the Port Authority of New York and New Jersey, which operates the airports.F lights were expected to begin arriving at Newark andL aGuardia airports later in the evening. V ikki Walker, 24, and her boyfriend Kevin Berryman, 26, were among those in line at a security checkpoint at LaGuardia. They had been inN ew York for Christmas and were trying to get home to Hal-i fax. They originally planned to fly out of Newark on Monday m orning and said they had been rebooked four times before gett ing seats on the flight out of LaGuardia. "It feels incredible. Hopefully it will work out, though," Walker said. "I don't want to g et my hopes too high." The storm walloped the N ortheast on Sunday, stymieing most means of transportation. F lights were grounded. Buses sputtered to a halt in snow d rifts. Trains stopped in their tracks. Taxi drivers abandoned their cabs in the middle of New York's snow-clogged streets. Even the New York City subw ay system usually dependable during a snowstorm b roke down in spots, trapping riders for hours. S nowfall totals included a foot in Tidewater, Va., and Philadelphia, 29 inches in parts of northern New Jersey, 2 feet north of New York City, and m ore than 18 inches in Boston. Cold, hungry and tired pas s engers spent the night in airports, train stations and bus d epots. Some were given cots and blankets. Others used their luggage as pillows, curled into c hairs, or made beds by spreading towels on the floor or over t urning the plastic bins used for sending items through airport s ecurity. Some airline passengers could be stuck for days. Many planes are booked solid because of the busy holiday season, and airlines are operating fewer flights because of the eco nomic downturn. As bad as the storm was, it could have been worse if it had been an ordinary work day. Children are home from school all week on Christmas vacation, and lots of people had taken off from work. Many youngsters went out and frolicked in the snow, some of them using the sleds they got for Christmas. Many side streets in New York City remained unplowed well into the day, and pedestri ans stumbled over drifts and trudged through knee-deep snow in some places. Numer ous people simply gave up trying to use the sidewalks, instead walking down the middle of partially plowed streets. Some New Yorkers complained that snowplow crews were neglect ing neighborhoods in the outer boroughs in favor of Manhat tan. A testy Mayor Michael Bloomberg defended the city's cleanup effort, saying the furious pace of the snowfall 2 to 3 inches per hour required crews to plow streets repeatedly to keep them open. And abandoned cars slowed the process further because plows could not get through, he said. "It's being handled by the best professionals in the busi ness," Bloomberg said, urging people not to get upset. "It's a snowstorm, and it really is inconvenient for a lot of people." At the Manchester Boston Regional Airport outside Manchester, N.H., 25-year-old Alicia Kinney slept overnight on benches in the baggage claim area before moving to the food court for a soda in the morning. "I'm trying to stay positive," she said. The blizzard had a ripple effect on air travel, stranding thousands of people at airports around the country. "I know the Northeast was hit by snow. I get it. But still, this is Monday and I still haven't gotten a flight yet," said Sam Rogers, who had planned to fly back to New York on Sunday after visiting his broth er in Charlotte, N.C., for the holiday. He was supposed to be back Monday at the mortgage company where he works, but no one was answering the phone at his office. "I guess they took a snow day, too." Tired In New York, many passengers tired of waiting around couldn't have left even if they wanted to. Taxis were hard to find, and many airport shuttles and trains were also a lost cause. "There's literally no way to leave," said Jason Cochran of New York City, stuck at Kennedy. Yoann Uzan of France, on a first-ever trip to New York City with his girlfriend, said their airline had promised to put passengers up at hotels overnight. "But we waited for the shuttle buses to take us there, and then the buses couldn't get through because of the weather, so we were stuck here," he said. Passengers stuck at New York City's main bus terminal where all service was canceled tried to get some shuteye as they awaited word on when buses might start rolling again. "It's really, really cold here," said 12-year-old Terry Huang. "The luggage was really hard to sleep on. It was hard and lumpy." Two passenger buses headed back to New York City from the Atlantic City, N.J., casinos became stuck on New Jersey's Garden State Parkway. State troopers, worried about diab etics aboard, brought water and food as emergency workers w orked to free the vehicles. In Virginia, the National G uard had to rescue three people trapped in a car for more than four hours in the Eastern Shore area. Not even professional hockey p layers could beat the frozen conditions. The Toronto Maple L eafs, after defeating the New Jersey Devils 4-1 in Newark, N .J., got stuck in traffic for four hours on their way to the team hotel. It was supposed to be a 20-minute ride. Center Tyler Bozak tweeted in one middleof-the-night dispatch: "Roads closed in new jersey stuck ont he bussss. Brutaallll!!" Christopher Mullen was among the New York City sub way riders stranded for several h ours aboard a cold train Monday. "I just huddled with my g irlfriend. We just tried to stay close," he said. The train was stopped by snow drifts on the tracks and ice on the electrified third rail. It took hours to rescue the pas sengers because crews first tried to push the train, and when that didn't work, a snow-covered diesel locomotive had to be dug out of a railyard and brought in to move it. Getting around cities in the Northeast was an adventure. In one Brooklyn neighborhood, cars drove the wrong way up a one-way street because it was the only plowed thoroughfare in the area. In Philadelphia, pedestrians dodged chunks of ice blown off skyscrapers. New York taxi driver Shafqat Hayat spent the night in his cab on 33rd Street in Manhattan, unable to move his vehicle down the unplowed road. "I've seen a lot of snow before, but on the roads, I've never seen so many cars stuck in 22 years," he said. Flights resume at NY airport after blizzard SNOW REMOVAL: John F. Kennedy International Airport in New York, Monday, Dec. 27, 2010. THE LONG WAIT: Air travelers wait in line to find out the status of their flights at John F. Kennedy International Airport in New York, Monday, Dec. 27, 2010. (AP Photo/The News Journal, Saquan Stimpson SHOVEL TIME: McDonald's General Manager Yves Florespal, left, and owner Robert Cocozzoli shovel snow from the parking at 1788 N.duPont highway in Dover, Monday, Dec. 27, 2010. T HOUSANDSSTRANDEDTRYINGTOGETHOMEAFTERHOLIDAYS A P P h o t o ? S e t h W e n i g A P P h o t o ? S e t h W e n i g CHARLES BABINGTON, Associated Press WASHINGTON This month's early, under-the-radar campaigning by potential Republican challengers to President Barack Obama is a reminder of something too easily forgotten: Running for president is harder than it looks, and Obama ultimately will stand against a flesh-andblood nominee certain to make mistakes along the way. Mitt Romney, Tim Pawlenty and other possible GOP candidates stumbled over health care, taxes and other issues in December, even as Obama coped with the harsh political reality stemming from his party's "shellacking" in last month's elections. No serious contender has officially launched a 2012 campaign. But with the Iowa caucuses less than 13 months away, at least a dozen Republicans are jockeying for position, speaking to groups throughout the country, writing op-ed columns and taking potshots at one another. As all politicians learn, the more deeply they delve into contested issues, the likelier they are to stumble. Sen. John Thune, R-S.D., got caught in the middle of his party's quickly changing views about congressional earmarks, the pet projects that some lawmakers sprinkle throughout big spending bills. Earlier this year he tucked more than $100 million in earmarks into a massive year-end spending bill that many had expected to pass. But after tea party successes in the Nov. 2 elections, elected Republicans swung hard against earmarks and pork-barrel spending. At a Dec. 15 news conference in the Capitol, Thune came uncomfortably close to echoing Sen. John Kerry's infamous line about vot ing for an $87 billion bill "before I voted against it." Thune told reporters: "I support those projects, but I don't support this bill, nor do I support the process by which this bill was put together." Meanwhile, Romney was put on the spot when a federal judge ruled that Obama's health care law is unconstitutional because it requires everyone to buy health insurance. Romney included virtually the same mandate in the 2006 health law he enacted as Massachusetts governor. Romney took pains to say his plan was different from Obama's, mainly because it takes a state-by-state approach rather than a federal onesize-fits-all solution. Pawlenty aides note that the Minnesota governor rejected such mandates in his state. But Pawlenty had his own problems this month. In a Wall Street Journal column, he said most labor union members now work for governments, which Obama has rendered "the only booming industry left in our economy." Since January 2008, he wrote, "the private sector has lost nearly 8 million jobs while local, state and federal governments added 590,000." The nonpartisan research group PolitiFact gave the column its worst rating for accuracy, "pants on fire." The group said Pawlenty mangled the time frame, contradicted his definition of federal workers and "repeated a statistic that had been criticized as inaccurate as long as six months ago." Pawlenty's office said he based the statistics on a June article by Veronique de Rugy, a senior research fellow at George Mason University, on the Big Government website run by conservative activist Andrew Breit bart. After reviewing the article, PolitiFact said it stood by its analysis that "the 590,000 number doesn't encap sulate the time frame or definition set out by Pawlenty," and it is "still skewed by a large bump in temporary Census jobs." GOP hopefuls find some issues a hazard early on
C M Y K C M Y K LOCAL NEWS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM C O L O U R S JUNKANOO: THEBOXINGDAY PARADE PHOTOS:Tim Clarke /Tribune staff S A X O N S R O O T S V A L L E Y B O Y S F A N C Y D A N C E R S
By NEIL HARTNELL Tribune Business Editor Listed Bahamian securities could on average enjoy price appreciation of between 6-7 per cent in 2011, a leading capital markets analyst has told Tribune Business, with developments such as the likely construction start for the $2.6 billion Baha Mar pro ject set to revive earnings and investor sentiment after two down years. While acknowledging that 2011 would not be a stellar year for the Bahamian capital markets, certainly not in comparison to the 20 per cent gains enjoyed in 2007, Kenwood Kerr, Providence Advisors chief executive, said factors were in play to encourage an equity market revival. Among these were prospective new initial public offerings (IPOs the $60-$65 million Burns House/Commonwealth BrewC M Y K C M Y K SECTIONB firstname.lastname@example.org TUESDAY, DECEMBER 28, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.36 $4.58 $4.61 bntb!%$#$ ") "#tt'$'") $$$)($%" $# "&$") #%(%")$#$#$ $)'$b#'##) bfntntf$ By NEIL HARTNELL T ribune Business Editor A leading Bahamian retailer fears that the sector is like l y to struggle during the 2011 first half due to the everlengthening time it is taking consumers to recover from t heir Christmas spending and pay down debt, warning that the period was going to be very telling for some firms survival. C hristopher Lowe, operations manager at Grand Bahama-based Kellys (Freeport n ess that retail top and bottom lines across the Bahamas were likely to suffer even more in 2011 from the pro tracted debt hangover many consumers experienced as a r esult of festive shopping. Stating that Kellys (Freeports held firm, essentially being flat when compared to 2009 data, Mr Lowe said: Its going to be very telling in the February, March, April period, because every year it Retailer fears lengthening consumer recovery Warns that 2011 first half will be very telling for many i n industry, given that it was well into June 2010 before a ny spending rebound from last Xmas was seen Says that recovery becoming more protracted every year, as Bahamians fail to budget for seasonal spending S EE page 5B ANALYST FORECASTS 6-7 PER CENT S T OCK MARKET REVIVAL FOR 2011 Baha Mar and other projects set to revive investor sentiment after two bad years, although 2011 will not be stellar The almost total absence of confidence big bar to recovery, although Heineken IPO and potential BTC and Port offerings set to boost market depth and choice Economy in resuscitation mode with recovery yet to fully kick in Ken KENKERR By NEIL HARTNELL Tribune Business Editor A UK-listed company would have to undergo newa pprovals processes and obtain a revised series of permits if is to meet its stat e d goal of beginning exploratory drilling for oil in Bahamian waters by the 2011 Q4 START DATE T AR GET FOR OIL DRILLER But government says BPOC would require new permits and have to undergo new processes SEE page 4B EARL DEVEAUX SEE page 5B By NEIL HARTNELL Tribune Business Editor Baha Mar has agreed to pay US gaming giant Harrahs Entertainment $12.174 million to cover the legal costs it incurred in defending itself against the Cable Beach developers breach of contract and other claims made over their failed $2.6 billion joint venture. The settlement, part of a total $25 million legal bill that Baha Mar has incurred, the balance coming from its own legal teams fees, was filed with the New York State Supreme Court last month. The motion stated that the dispute over Harrahs legal fees had been resolved in accordance with a report provided by a special referee back in August 2010. As a result, a December 21, 2010, motion was filed to finally dismiss the legal battle between Baha Mar and Harrahs, as all issues had been resolved. T he court-appointed 'special referee', Marilyn Der showitz, trimmed the initial bill submitted by Harrah's and its Bahamian subsidiary, Caesars Bahamas Investment Corporation, by just over $110,000, but she largely accepted the gaming giant's clam and rejected assertions by Baha Mar's attorneys that the sum demanded was too large. Ms Dershowitz's report also revealed that Baha Mar's own legal bill was "in excess of $12.6 million". Its legal costs were ahead of Harrah's, with the gaming giant's law firm billing all its attorney's at a rate of $490 per hour something it alleged had saved its client $900,000 in legal costs. According to Ms Dershowitz's report, it was Baha Mar who insisted that a hearing on Harrah's legal cost demands be held, with "vociferous argument" having taken place as to whether this was necessary. James Kearney, a partner at Harrah's US law firm, Baha Mar settles $12.2m Harrahs legal demand Developer incurs just under $25m in collective legal costs, as gaming giants demand resolved in accordance with referees report AN ARCHITECTS drawing of the Baha Mar development. S EE page 4B By ALISON LOWE Business Reporter email@example.com The Bahamian Contractors Associations (BCA which had hoped to receive word from government on concerns raised about the proposed hike in their business license fees, are still awaiting the Ingraham administrations judgment on the matter. Larger contractors, in par ticular, had expressed anxiety Contractors still waiting on Business Licence woe By ALISON LOWE Business Reporter firstname.lastname@example.org The Bahamas Hotel Association (BHA informed that the Prime Minister is giving serious consideration to its recom mendation that require ments, which must be met under the Hotels Encour agement Act to enable hotels to access materials for infrastructure upgrades duty free, be eased. Frank Comito, the BHAs executive vice-president, said tourism stakeholders were informed this was the case by Minister of Tourism, Vincent Vanderpool-Wallace, at the BHAs Annual General Meeting earlier this month. At the end of November, Mr Comito released the results of a survey undertaken by the BHA, which showed that more than 90 per cent of hoteliers would undertake capital upgrades in short order, potentially pouring an estimated $40Hotel incentive r equest under serious r eview SEE page 6B SEE page 4B S TEPHEN WRINKLE
C M Y K C M Y K BUSINESS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM .LQJVZD\$FDGHP\ $Q(YDQJHOLFDORQGHQRPLQDWLRQDO&KULVWLDQFKRROf (QWUDQFH([DPLQDWLRQVIRU
about the Governments proposal to increase their business license fee, with some suggesting that not knowing to what extent they will be impacted was making it diffi cult to plan financially. The new Business License Act is set to come into force on January 1, 2011, with companies being given a threemonth window within which to comply with its provisions which include re-registering their company and paying the adjusted license fee. The overall intent of the Act, according to the Government, is to simplify and ease aspects of doing business in this nation. Stephen Wrinkle, the BCA president, said: The case was made to the Ministry of Finance and they've taken it under consideration, but to date weve had no response. I would've hoped we would have heard by now, but you know in this day and age I think there are probably a number of requests for considerations they had and I just don't know what their schedule is. Under the new Business License Act, which adjusts how license fees are calculat-e d for all businesses in what the Government says is a simplification of the previous process, business license fees for contractors increase from 0.5 per cent to 0.75 per cent, with this to be calculated based on gross turnover rather than gross profit (with certain costs deducted). Pay Zhivargo Laing, minister of state for finance, has argued that the change in the Busin ess License fee would be revenue neutral for the Government in the most part meaning that most compa nies would not pay significantly more, and some may pay less but admitted that there were a small number of companies, primarily contractors with large turnovers, who would clearly pay more. Mr Wrinkle said the BCA had asked that if the Government was intent on increasing their Business License fee so significantly, it should con sider doing so in phases. What happens is that in some cases contractors are locked into contracts where they wont realise revenues until the coming year, so we asked for consideration of a phased, incremental increase as one way of cushioning that b low, Mr Wrinkle said. For example, where a company may have recently signed a letter of intent with Baha Mar for the $45 million roadwork project, if the (license fee on to that that's several hundreds of thousands of dollars more they will have to pay. The contractors have not had the right to include that in their tender because (the new Business License Act) has not become law yet. It leaves contractors in a particularly vul nerable area, said Mr Wrinkle. He said that if the fee is applied in one instance then c ontractors will be at a sig nificant disadvantage, without any recourse to recoup that loss, and thats funda mentally wrong. C M Y K C M Y K BUSINESS PAGE 4B, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.260.97AML Foods Limited0.970.970.000.1500.0406.54.12% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1)6.956.950.000.4220.26016.53.74% 3.651.63Consolidated Water BDRs1.781.820.040.1110.04516.42.47% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.23Finco7.237.230.000.2870.52025.27.19% 11.408.77FirstCaribbean Bank9.399.390.000.6450.35014.63.73% 5.513.75Focol (S)5.465.00-0.46200,0000.3660.21013.74.20% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.405.00ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.82J. S. Johnson9.829.820.000.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029THURSDAY, 23 DECEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,488.77 | CHG -8.16 | %CHG -0.55 | YTD -76.61 | YTD % -4.89BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56681.4954CFAL Money Market Fund1.56974.15%4.18%1.551550 3.20252.8522Royal Fidelity Bahamas G & I Fund2.7108-13.03%-4.96% 13.638813.0484Royal Fidelity Prime Income Fund13.2825-0.63%-0.14% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.14151.0000FG Financial Preferred Income Fund1.14154.74%5.21% 1.11011.0000FG Financial Growth Fund1.11013.94%7.60% 1.14281.0000FG Financial Diversified Fund1.14284.78%5.90% 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% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.6635-3.37%-3.37% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund7.94422.94%6.47% 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-10BISX Listed Mutual FundsNAV Date 30-Nov-10 30-Nov-10 30-Nov-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Nov-10 30-Sep-10 30-Sep-10 3-Dec-10 30-Nov-10MARKET TERMS30-Nov-10 NAV 6MTH 1.475244 2.911577 1.532712 107.570619 105.776543 30-Jun-10 30-Nov-10 30-Nov-10 30-Nov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fourth quarter. BPC PLC, in its December 2010 presentation to prospective investors and industry analysts, states that it plans to drill in Q4 2011, having obtained a new set of seismic data on the potential for Bahamian waters to be harbouring sub-s tantial oil deposits. T he company, which also previously announced plans for a secondary listing of its shares on the Bahamas International Securities Exchange (BISX sentation a copy of which has been obtained by Tribune Business that new seismic planned to mature a prospectf or Q4 2011. That is another reference to its hopes for a drilling start. However, Earl Deveaux, minister of the environment, t old Tribune Business in a recent interview that the five licences BPC PLC already held were leases for exploration and testing purposes only, not drilling. Should the companyw ant to start drilling, it would have to apply for a totally new set of permits. The licences that we issued are not licences for drilling; t hey are leases, and they provide for them to do seismic work and conduct investigations for oil, Mr Deveaux explained. They would have to submit an Environmental Impact Assessment (EIA that would have to be approved, and they would be required to get permission for drilling in Bahamian waters. There would also have to be agreement on the royalties f or the oil likely to be found. Mr Deveaux said the Government-imposed moratorium on the consideration of any new oil exploration/drillingl icence applications, which was instituted in late August 2010, remains in place. This immediately placed the three l icences BPC had sought in a joint venture with Statoil/Hydro, plus two others it wanted in its own name, into cold storage. T he minister explained that the reasons for the morato rium also remained, namely the need to account for the lessons learned in the Deepwater Horizon rig explosion/oil spill in the Gulf of Mexico, and the Governments desire to put in place the most stringent regulatory regime. W hat is clear is that apart from the oil discovery prospects, BPC has been attracted to the Bahamas by the relatively high rates of return that can be enjoyed, due to the absenceo f any income or corporate taxes. According to its August 2010 investor presentation, com p ared to the Gulf of Mexico, where any oil explorer/driller will retain just over 30 per cent of the gross as net rev enues, in the Bahamas they would retain more than 50 per c ent due to the absence of taxes. While costs were roughly the same, royalties paid in the Bahamas would also be less. I ndeed, the BPC presentation showed that the Bahamian government would have the second lowest take of any pro ject's pre-tax net profit value (NPV 3 0 per cent compared to a global average of 67 per cent. In the meantime, BPC is continuing to conduct seismic testing and processing in the five areas where it was licensedthe Bain, Cooper, Donaldson and Eneas fields on the Cay Sal Bank, on the maritime border with Cuba, and the Mia m i field in the northern Bahamas near Bimini. Together, those fields cover some 3,873,546 acres. The three fields that BPC plans to explore in a joint ven ture with Statoil cover 2,328,700 acres, while the two licences that the former hopes to obtain in its own name cover1 ,534,600 acres. Altogether, almost four million acres are involved in the licence applications now delayed by the Government. I n its August investor presentation, BPC said that the total acreage covered by the 10 licences was some 7,736,846 a cres of seabed. "BPC will grow assets by expanding acreage and engaging new farm-in partners by year-end 2010, which will carry BPC through the early stages of exploration, dis c overy and delineation," the company added. F ROM page 1B Baha Mar settles $12.2m Harrahs legal demand Latham & Watkins, produced the billing records, and Ms Dershowitz noted: "He offered a comparison of time spent by the plaintiff and that spent by the defendants. That the fees of the defendants [Baha Mar] were in excess of $12.6 million was not disputed; by contrast, the fees and expenses for which the plaintiff seeks reimbursement here are a bit over $12.2 million." Harrah's, the report to the New York State Supreme Court found,, had to spend "enormous amounts of time" in responding to "plainly massive document requests" and deposition requests made by Baha Mar. "And, indeed, the amount of fees generated by the defendants [Baha Mar] clearly reflect that this litigation resulted in a blitz of activity by the defendants, which obviously required responsive action," Ms Dershowitz said. "As a first matter, it was clear that an enormous amount of money was at stake in this multi-billion dollar contract. And the defendant's [Baha Mar] expert contended that there were damages of approximately $289 million." Responding to Harrah's fee claims, Baha Mar's attorneys alleged that the legal billings were not specific enough and failed to show why certain actions, such as specific depositions, were necessary. Baha Mar's representatives also claimed that too many attorneys were involved with the case, and that staffing was too heavy even though it was "clear at times that [Baha Mar] had more lawyers on the case". However, Ms Dershowitz agreed with the arguments of Harrah's attorneys, who alleged that Baha Mar's counsel for the fee hearing had not been involved in the litigation, and thus "lacked knowledge of what had gone on and how the matter had proceeded". Harrah's had sought $12.29 million, broken down into $11.24 million for attorneys' fees; $398,802 for charges; and $651,782 for litigation service providers. This, Ms Dershowitz said, reflected an amount that the gaming giant's legal advisers had reduced by $92,745. However, she rejected the claim for $116,492 in research costs incurred by Lexis and Westlaw, deducting this from the $12.29 million to find that Harrah's had a claim to recover $12.173 million in legal costs from Baha Mar. FROM page 1B Contractors still waiting on Business Licence woe FROM page 1B
t akes longer for the overwhelming majority of B ahamians to recover from Christmas expenditure, w hich is definitely bad for Bahamians in retail. The recovery period has i ncreased by a month every year for the past six years. T hats what we see in terms of historical trending with respect to an individualsf inancial recovery taking an additional month each year, a nd thats not going to bode well for us. We see it in our sales figures. A part from paying down Christmas shopping-related debt, Bahamian consumersa lso had to deal with bills such as mortgages, utilities a nd all manner of existing consumer loans, causing Mr Lowe to bemoan the gener-a l lack of budgeting among his fellow countrymen. Weve held steady to flat to last year, he added of Kellys (Freeportsp erformance, but it doesnt bode well going into the New Year with respect to whats going to happen in the first six months of 2011.I ts going to be pretty tough for most people. Like it or not, we dont manage our funds very well in relation to whats around the corner. Thats something weve been watching for the last six years. The recovery usedt o take until January/February, but then it lengthened t o February/March, then March/April, and by last year it was well into June before we saw an increase in sales. Based on the recovery g etting stretched out further and further, the banks will be watching that very close-l y. Tribune Business reported o n Christmas Eve how Bahamian commercial banks saw their hopes for at hird consecutive month of bad loan declines dashed by a 3 per cent November increase, prompting one senior executive to say thatt he $1.169 billion delinquent credit portfolio was becomi ng more hard core the longer the recession lasts. Private Expressing disappoint ment that November 2010, d uring which total private sector loan arrears increased i n value by $34.3 million, did not match September and October and create a three-m onth trend of bad credit declines, Paul McWeeney, B ank of the Bahamas Inter nationals managing director, warned that it would bea nother 18-24 months before the Bahamian commercial banking industry saw substantial improve ment. N ovembers 3 per cent bad loan increase took the total arrears ratio, as a percentage of all loans to Bahamian businesses andh ouseholds, to 18.6 per cent the latter increasing by 0.4 percentage points. That means that $18.6 out of every $100 loaned by Bahamian commercialb anks is in arrears. And, more critically, non-performing loans those 90d ays and more past due, and upon which the banks have s topped accruing interest rose by $12.6 million or 2 per cent during Novembert o hit $648.4 million. The latter figure is a sum w orth 10.2 per cent of all outstanding loans to Bahamian companies andt he private sector, meaning that $10.2 out of every $100 i n credit extended by the private sector is non-performing. C onsumer loan arrears rose by $12.3 million or 4.6 per cent during November 2010 to hit $279.6 million, out of a total $2.174 billioni n outstanding consumer credit, with short-term defaults up by $6.5 million or 5.5 per cent, while credit 90 days past due was up by $5.8 million or 3.9 per cent. C ommercial loan arrears, which grew by $7.1 million or 2.6 per cent, saw ani ncrease of $4.3 million or 5.2 per cent in the 31-90 days p ast due category, and a rise of $2.8 million or 1.5 per cent in the non-performings egment. The November arrears g rowth was again led by the mortgage sector, where bad loans increased by a collec-t ive value of $14.9 million or 2.5 per cent to hit a total o f $608.6 million. Non-performing mortgages, those 90 days or morep ast due, increased by $4 million or 1.4 per cent, while those between 31-90 days past due increased by $10.9 million or 3.6 per cent. C M Y K C M Y K BUSINESS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ery flotation; the initial 9 per cent government-owned tranche in the Bahamas Telecommunications Company (BTC at roughly $37 million; and the Arawak Cay Port. Explaining that these offerings would give Bahamian investors both institutional and retail greater depth, diversification and choice when they came to market, Mr Kerr told Tribune Business: Im an eternal optimist. Its not going to be a stellar year of performance by historical standards, at least not like 2007, when you have 20 per cent additional gains, but theres a lot of things going on locally that will restore and underpin investor sentiment. Larry Gibson, vice-president of pensions for Colonial Group (Bahamas critical to Bahamian stock market recovery. What is lacking is confidence the almost total absence of confidence, Mr Gibson told Tribune Business. Even people with money are not willing to do things, and its not going to happen unless theyre confident. The professional money will start to look around once they become comfortable. The big risk out there is, if you look at credit to businesses, its terrible. On mortgages, while loan values compared to appraised values were still pretty good, the high level of defaults in this area still did not bode well. Pointing out that Bahamian investors largely behaved as if they expected stock prices to go up all the time, meaning they reacted even more negatively in a downturn, Mr Gibson said: I think its going to be sluggish again next year. Our economy lags, and may not have seen the bottom. Were in a state of resuscitation, and its not getting any better per se. The deterioration has stopped, but the recovery has not really kicked in yet. Earnings Key is progress on the $2.6 billion Baha Mar project, which is expected to eventually through Bahamian contractors and workers hired to work on the $400 million construction pack age set aside for locals produce a trickle down effect that may also boost earnings for listed Bahamian public companies. In addition, Mr Kerr said Baha Mar and other development projects could also result in the level of discretionary and disposable income that allows people to invest increasing, both at the retail and institutional level. The latest Central Bank of the Bahamas data showed that collective equity market valuations on the Bahamas International Securities Exchange (BISX for the year to November 30, 2010, a trend that contrasted with the upward movement for most global stock market indices, apart from Frances CAC 40 and Japans Nikkei 225. While BISX was down on a net net basis by around 1.5 per cent for 2010, Mr Kerr said investors could expect average stock price appreciation of around 6-7 per cent for 2011, if all factors likely to impact the Bahamian economy came throughin a positive manner. We need a sustainable recovery to cause people to think about being in the market long-term. Weve had two bad years, and I believe this coming year will be much better, and the year after that better again, Mr Kerr said. Acknowledging that the Bahamian economy was hugely dependent on the US for its well-being, and that our northern neighbour was still not out of the woods, Mr Kerr took encouragement from the fact tourist numbers had passed the five million mark in 2010. Thats a positive sign, meaning the destination is still attractive. If we continue at those levels, we should be OK, Mr Kerr told Tribune Business. Stating that his four stock picks for 2011 were FINCO, Commonwealth Bank, Colina Holdings (Bahamas he acknowledged the need to get more Bahamians participat ing in the equities market as investors. Institutional monies play a significant role, and more people entering the market is important, Mr Kerr said. We need broad-based retail participation. If its just for companies and institutions, that signifies a lack of knowledge or understanding of the process, or that people just dont have the monies to invest in equities. Pointing to the likely increase in capital market activity in the New Year, Mr Kerr added: Market depth and diversification is very important. People have options. BTC would be more of a pure telecoms play, as opposed to Cable Bahamas, Heineken is a beverage, and the Arawak Cay port more of an infra structure opportunity, so were bringing real depth and diver sification to the market. I think were going to have a real degree of institutional involvement, create liquidity, have long-term capital, and real demand for those companies. Yet, he acknowledged, their prospects all depended on economic recovery and consumer sentiment. ANALYST FORECASTS 6-7 PER CENT STOCK MARKET REVIVAL FOR 2011 FROM page 1B F ROM page 1B Retailer fears lengthening consumer recovery
DAVID K. RANDALL, AP Business Writers PALLAVI GOGOI, AP Business Writers NEW YORK Stocks were little changed Monday as investors focused on strong holiday shopping results and looked past an interest rate hike in China, according to Associated Press. Many traders stayed home because of the snow, but the absence of selling points to growing confidence about the U.S. economy. Data from MasterCard Advisors' SpendingPulse survey estimates that U.S. retail sales between Nov. 5 and Dec. 24 rose 5.5 percent from last year. Wall Street is anticipating that Tuesday's consumer confidence index for December will reflect this optimism. Also expected on Tuesday is the widely-watched S&P/Case-Shiller house price index for October, which may not capture the exuberance seen in other more recent economic indicators. The Dow Jones industrial average ended the day down 18.46 points, or 0.2 percent, to 11,555.03. The Standard and Poor's 500 index gained 0.8, or less than 0.1 percent, to 1,257.54. The Nasdaq composite index rose 1.7 points, also less than 0.1 percent, to 2,667.27. Monday's trading was particularly light after a massive blizzard swept the Northeast, disrupting commutes for many people in N ew York's financial industry. Activity was already e xpected to be slow in a week sandwiched between the Christmas and New Year's holidays. China's move over the weekend was the second time in three months that the country took steps to slow the pace of its economic expansion. Inflation jumped to its highest levels in two years in November. Any slowdown in China a ffects companies worldwide and can drive a decline in m any stock markets. Bank of America Corp. estimates that emerging markets like China account for 80 percent of the world's economic growth. In the U.S., financial stocks were up. American International Group Inc. shares rose9 percent to $59.38 after the bailed-out insurer said it obtained $3 billion in credit facilities, marking another step on its road to recovery. Bank of America shares closed up nearly 2 percent to $13.27, while Citigroup Inc. was up 2 percent to $4.77. Consolidated volume of stocks traded on the New York Stock Exchange totaled2 billion. Gaining stocks outpaced losing stocks four to three. The yield on the 10year Treasury note rose s lightly to 3.34 percent. In a statement to Tribune Business, organisers said the workshop will introduce( participants) to the value and economics of franchising. It will include speak ers such as Jerry Crawford, president of Jani-King Inter-n ational, one of the ten largest US franchise systems, who is looking to expand hisf ranchise to the Bahamas; a representative from the International Franchise Association; a Washington, DC, franchise attorney whoc an offer advice on expanding Bahamian businesses into the US; and Tyrone Nabbie, owner of the Kafe Kalik restaurant known fori ts Lynden Pindling International Airport locations, which is also now being franchised in the US. The US Embassy in Nassau will also have a repre sentative on hand to offer relevant advice. Mr Ingraham said: Our concept is to have localB ahamians have a look at franchising as a fast grow ing element to business, and t o have them understand that your business risk goes d own when you have a fran chisor, who has a tried method and track record ofs uccess, as a partner. He said the ability to be successful in this area may often depend on Bahami ans willingness to partner w ith other Bahamians, to share the benefits of their joint capital and experience. Bahamians have not been used to doing what we call partnerships and joint ventures. But if you can take two or three or four guys with different skill sets and access to capita,l and at the end of the day discover that if we understand the entity and develop and work in it together, we are all success f ul, then everyone wins, Mr Ingraham said. Bahamians in the past h ave thought: It has to be all mine, but a lot of our w orkshops will talk specifi cally about how to create that winning environment( through partnerships), said Mr Ingraham. As for Bahamian busi nesses that may be in a posi tion to successfully franchise t heir operations abroad, Mr Ingraham admitted that there may not be a whole lot, but there are some where theres a concept that may be expanded. Those wishing to attend the workshop and/or franchise show should visit www..bahamasfranchisesummit.com or e-mail Shirley Gleman at email@example.com. C M Y K C M Y K BUSINESS PAGE 6B, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &20021:($/7+(%$+$0$6 1 7+( 6835(0(&2857 &RPPRQ/DZt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t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million into the Bahamian economy, if the Government were to relax the requirements necessary for them to access incentives for such work under the HotelE ncouragement Act. As a consequence of the surveys results, the BHA issued a call for government to consider an amendment to the Hotels Encouragement Act to temporarily eliminate the requirement that hoteliers must invest in upgrades equivalent to 25 per cent of the value of their property in order to access duty incentives on materials related to those upgrades. The survey was undertaken by "a strong sampling of the nation's hotels, particu larly smaller properties", and involved them answering three questions with a view to determining "the extent to which hotel upgrades and refurbishments could be stimulated with a change in the existing Hotels Encouragement Act investment require ment. Eighty per cent of hotel properties surveyed said they had "put a hold on refurbish ments, capital improvements or upgrades during the past two years due to economic conditions". Mr Comito suggested the stimulus from the proposed amendment to the Act would be felt especially in the Family Islands, where many of the properties surveyed were located. Hotel incentive request under serious review FROM page 1B Franchise urged as route for success FROM page 1B Stocks flat as Wall Street shrugs off China rate move (AP Photo CHINAONTHEMOVE: An investor walks past the stock price monitor at a private securities company Monday Dec. 13, 2010 in Shanghai, China.
B OB CHRISTIE, Associated Press PHOENIX F rancisco and Pam Cruz maneuvered around boxes of new flooring and open cans of paint as they surveyed the forec losed Phoenix house they w ould soon call their own. This house wasn't typical of the thousands in foreclosurebattered Arizona that banksh ave auctioned for cheap often to investors who make just enough repairs to satisfy a potential renter. T he Cruzes will become firstt ime homeowners, helped by one of many nonprofit groups that can snag foreclosures at a discount and sometimes for free before banks make t hem available to speculators. It's a glimmer of hope for struggling neighborhoods that are watching banks foreclose on a record number of homest his year. In the Cruzes' case, Rebuildi ng Together obtained the home for free from JPMorgan C hase & Co., the bank that foreclosed on its previous own er. Honeywell International Inc. provided the labor to renovate it and $25,000 cash fort he materials. In a market hot with specul ators snapping up cheap fore closures, Rebuilding Togethe r's program is one of many that give a leg up to nonprofits and redevelopment agencies trying to stabilize neighborhoods dotted with vacant house s. Yet Jim O'Donnell, JPMorg an Chase & Co.'s community revitalization program manage r, acknowledges that each home being offered to a comm unity group also has a story about someone who lost it to the bank. "It's an unfortunate situation, and that's why we really take a conscious effort to work with our partners to ensure that wec an have some good stories at the end of this unfortunate e quation," O'Donnell said. "Through these programs, we put what I call this protectiveumbrella over these affordable h omes so that first-come firstserved nonprofits can get access t o them to ensure they get turned back into the hands of the community." Cruz and his wife watched earlier this month as more than7 0 red-shirted Honeywell Aerospace employees swarmedt hroughout the three-bedroom house, putting the final touches o n new kitchen cabinets, painting baseboards and walls, and cleaning up the landscaping. "All the neighbors, they're just so grateful, because the h ouse was looking so bad," Pam Cruz said. "This is a good e xample of the banks working with the mortgage companies a nd so forth, helping the community revitalize the neighbor hood." The disabled Vietnam veteran and his wife bought the h ouse after the renovation was complete and got a completely u pdated home for below market value. The mortgage paym ent will be much less than the $900 a month they were pay ing in rent. Under an expanded agreement announced in September between the federal government and banks that provide about 75 percent of all U.S.m ortgages, as many as 100,000 more repossessed homes will join those already being pumped into the nonprofit and r edevelopment agency pipeline. That deal started in 2008 as a pilot program to provide foreclosed homes to cities and nonp rofits that could renovate them for lowand moderatei ncome families. About $7 billion in federal funds has been a llocated to the program. But the discount program w ill only handle a small per centage of the foreclosures e xpected in the coming years. Banks seized more than 980,000 homes nationwide through the f irst 11 months of 2010 and will likely take back a million more n ext year, according to foreclosure listing firm RealtyTrac Inc. T he home the Cruzes now own is one of 1,200 Chase has d onated or sold at steep discounts to nonprofits or community development agencies i n the past two years. There are similar programs at other major lenders, including Wells Fargo & Co., which will donate close to 200 homes this year and sellh undreds more at a discount. The Cruzes said they had been contemplating buying a house for months before a f riend who is a real estate agent recommended the couple to Rebuilding Together's Phoenix chapter. A s first-time homebuyers, the retired couple were the type o f people the group is looking to help. T he nonprofits generally have experience rehabbingh omes, and their efforts help pull up home values. Groups l ike Habitat for Humanity, Rebuilding Together and community development organizat ions like Detroit Shoreway in Cleveland and Jacob's Ladder i n Memphis participate. The availability of foreclos ure homes has helped com munity-based housing groups l ike Community HousingWorks in San Diego expand from developing affordable apartm ent housing to helping buyers get into their first homes. C M Y K C M Y K BUSINESS THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM tb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onprofits getting first shot at bank foreclosures RENOVATION: In this photo taken Tuesday, Dec. 7, 2010, Francisco Chico Cruz, right, and his wife Pam Cruz, second right, greet volunteers from the Honeywell Aerospace Human Resources Department as they work on a month-long renovation of a donated home, in Phoenix. The foreclosed home was donated by Chase Bank to Rebuilding Together, a nonprofit organization that renovates and repairs homes for low-income, disabled, veteran and elderly homeowners at no cost to them. This home was renovated and than sold to retired U.S. Army Chief Warrant Officer 2 Francisco Chico Cruz and his wife with the proceeds from the sale staying with Rebuilding Together to be reinvested into ongoing programs. ( AP Photo /Matt York) INTERNATIONAL BUSINESS
By JEFFARAH G IBSON Tribune Features Writer T HE efforts to i ncrease the awareness and the prevention of HIV/AIDS in theB ahamas has been ongoing. And the American Red Cross is doing its part to ensure that the awareness of HIV/AIDS is kepta live through the dissemination of information and the implementation of community projects. For that matter, the American Red Cross is funding the BahamasR ed Cross Society to reduce the transmission as well as the social stigma associated with the disease. Through work with Jamaica, the B ahamas, and Guyana Red Cross societies under the Caribbean HIV/AIDS Project (CHAPA merican Red Cross aims to reach nearly 22,000 people from highr isk groups, such as men who have sex with men (MSM ers, minors and high risk youth, asw ell as the wider community. The first thing on the agenda for t he American Red Cross Society is the peer educators initiative, one that allows individuals between thea ges 16-30 to conduct outreach activities in various communities. T he project is expected to begin in January of next year. We are targeting the most vuln erable communities like Bain and Grants Town, Farm Road and Centreville and St Cecelia, said Sally Moore health delegate of the organisation. Skills The peer educators project is the largest activity under (CHAP Individuals who are interested inb ecoming part of the project will learn skills in negotiation, probl em solving assertiveness and learn facts about HIV/AIDS. The criteria for peer educator is simple,t he person must be between the age of 16-30. They must be a resident of Bain and Grants Town, F arm Road and Centreville, or St Cecelia. They must also be eager to learn new information, espe cially about HIV AIDS. They must be a good communicator outgo i ng, confident and willing to com mit to the program for 18-months of the project (in both time ande ffort), Ms Moore said. Ms Moore said that the peer e ducators project will provide the opportunity for the HIV/AIDS message to reach the wider com m unity. When you talk to young people the majority of them learn about sex from their peers. If you train a group of people with knowledgea nd details these skills can be passed on to friends and the message can reach a broader spectrum of the community, she said. Recruitment for peer educators initiative is underway and the organisation is seeking to attract y outh from Haitian and Bahamian descent. As a peer educator, projects will all be initially offered by Red Cross, first aid training followed by training as a Red CrossH IV peer educator is necessary. A small stipend will be given to the peer educators. Another project called the Trusted Adult Youth Communicatorsw ill also launched during April 2011. This program is designed to improve conversation between adults and their children about H IV and sexual reproductive health. Its about teaching adults that talking to their kids about sex is not going to make them go out and do it. It also teaches youngp eople to talk to their parents about sex as well. And when par ents and young people have this conversation they will find that they are able to talk about othert hings, she said. All year long the organisation will be engaging in activities to increase the awareness of the dise ase. Ms Moore said that volunteers of both projects will be given small training in theater based techniques to foster an appreciation for Bahamian entertainment.T hey will also develop skits and stories to be performed during community events. Ms Moore said so far the Bahamas has been doing good joba t the keeping the awareness alive. I think the Bahamas has being doing a good job at addressing HIV as a health issue rather than a s ocial issue. The Government has done good job of putting strategies in place to deal with the issue. However we have to keep the message going because we are still see-i ng high rates among young people. We have to give them skills to make the right decision that will put them in safer situations, Ms Moore told Tribune Health P ersons interested any of the projects can contact the American Red Cross directly at 322-9451. C M Y K C M Y K WOMAN PAGE 8B, TUESDAY, DECEMBER 28, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ALESHA CADET Tribune Features Reporter THE HOLIDAY cheer is still in the air as the Bahamas Chapter of Professional Coders (BCPC recently donated a port to the Sister Sister breast can cer support group. Coders are the persons who transform medical diagnoses and procedures into a universal numeric text for clarity, privacy and confi dentiality, in terms of billing and insurance purposes. Adding additional information on the port, in a statement, the Mednet Group said: The Implantable ports, sometimes called portacaths or subcutaneous ports are often used to give chemotherapy treatment and other medicines to both adults and chil dren with cancer. The port allows medicines to be given into the vein or blood to be taken from the vein or samples of the blood to be taken for testing. The port also makes it possible for cancer patients to have treatment without the need to fre quently put needles into veins in their arms. The cost of an implantable port for cancer treatment ranges from $470 to $600. According to Sandra Ferguson Rolle, Vice President of Sister Sister, the donation means a lot and it is going to make somebody happy. When you hear that they are unable to afford a port and then you hear in the next couple of months that they have passed on, you know, its not a good feeling. Most of the time, these women are the bread win ners of the family, so when they are stricken the whole family is shaken. Thats why we try to help, said the Sister Sister vice-president, who also noted that the Sis ter Sister motto is Women helping Women. She also revealed that just last month alone, Sister Sisters fundraising efforts enabled the organisation to purchase five ports from the Cancer Society of The Bahamas and give them to Breast Cancer patients. Marsha Sands, President of the Bahamas Chapter of Professional Coders explained that over a year ago, BCPC adopted the Sis ter Sister Group with the intention of donating a port. Short Last year we fell short on the monies that we collected, so this year we thought that we would pursue it again. Based on personal dues and monies that we collected, we finally came up with the monies that we needed so we could purchase a port and donate it to shall we say, a Fellow Sister, she said. This donation had added meaning for the BCPC Pres ident. Im a seven-month cancer survivor and I was diagnosed with cancer in February, and I know and I understand that the port is very important to the treat ment of the cancer as it relates to the administration of chemotherapy, she added. In speaking with other females who had been diag nosed with cancer as well, I found that because they had no insurance like I did, they were not able to afford a port and this was a set back for these females. So even though we decided a few years ago that we would get together and donate a port, it just resonates with me so much more, now after being diagnosed with the condi tion. A Sister Sister member, Shantell Cox-Hutchinson, a five-year and stage-four can cer survivor, emphasised that because the demand for the ports is so great, the port would be assigned and donated over that very weekend. Ive seen in the last five years, how many women can get treatment because we buy the port. We raise funds from charity and public kindness, so this donation by The Bahamas Chapter of Professional Coders is one step closer to not having to find the funds to buy a port, and because of this, some lucky woman is going to receive this port within the next several days, she said. Coders give hope t o cancer patients AIDS awareness THE JOY OF GIVING -Members of the Sister Sister Breast Cancer Support Group received a port donated by the Bahamas Professional Chapter of Coders for a fellow breast cancer sister who cannot afford the port needed for treatment. PICTURED FROM L TO R: Mrs. San dra Rolle-Ferguson, Vice President of Sister Sister, Breast Cancer Support group, Mrs. Marsha Sands, President of The Bahamas Professional Chapter of Professional Coders (BCPC boosting PROJECTLAUNCH: Delegates from Bahamas, Jamaica, Guyana, Haiti, American Red Cross, the International Federation of Red Cross Red Crescent at the project launch. W e are targeting the most vulnerable comm unities like Bain and G rants Town, Farm Road and Centreville and St C ecelia. S ally Moore
C M Y K C M Y K WOMAN THE TRIBUNE TUESDAY, DECEMBER 28, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM health B ODYANDMIND T h e T r i b u n e ( ARA) N ow is the time for a renewed f ocus on personal health and wellness. If you have been putting the health of your fam ily first, take some time to educate yourself and make your own health a priority, asw ell. If you are a menopausal woman, you may be experiencing physical changes thaty ou may not be sure are common or relat ed to menopause. For some women, m enopause is an easy transition into the next phase of their lives. However, for women experiencing moderate to severes ymptoms, menopause can affect day-today activities. During menopause, declines i n estrogen can result in a variety of symptoms, which may include hot flashes, night sweats, vulvar and vaginal atrophy (whent he vaginal walls become thinner and less lubricated) and sleep disturbances leading t o fatigue and irritability. Additionally, vaginal changes that may result from menopause such as vaginal dryness, itch-i ng, and burning in and around the vagina may make sexual intercourse difficult or p ainful for some women. While not uncommon, some women may not be comfortable talking about these vaginal or sexuals ymptoms that may be associated with menopause. In fact, in a survey of 1,006 postmenopausal women called REVEAL (REvealing Vaginal Effects At mid-Life2 5 per cent of the women surveyed reported experiencing dyspareunia, or painful sexual intercourse, at least sometimes, yet only 44 per cent of these women had initi-a ted a conversation with their health care professional about this condition. In a relate d survey of 602 health care professionals, 95 per cent somewhat or strongly agreed that they considered treating a woman'sv ulvar and vaginal health important to her overall sexual physical health, and 87 per c ent reported that detailed discussion with a patient regarding her reported symptoms was very important in guiding their diag-n osis of dyspareunia. "Menopausal women should not be embarrassed or afraid to discuss their vaginal and sexual health with their health care professional," says Karen Giblin, presidento f the Red Hot Mamas, the nation's largest menopause education and support program. "If you are experiencing menopausal symptoms, such as uncomfortable vaginalp ain either during routine daily activities or pain with intercourse, don't ignore these s ymptoms. Talk with your clinician a doctor, nurse practitioner, physician's assistant or nurse about management optionst o determine what you can do and find out what treatment approach that is best for y ou." Make it your resolution to speak with your health care professional about yourm enopausal health. Menopausal symptoms, such as painful intercourse, are not something you have to live with. To learn more about your vaginal and sexual health and to obtain tips on speaking with your healthc are professional, visit www.REVEALSurvey.com. You should resolve to make your menopausal health a priority Not a Gardener? Not a gardener but you want to grow some tomatoes you can call your own? Dig a hole or few in your yard. Fertilise and plant. Use a hybrid variety and water occasionally. Thats all it takes. The fertiliser? Do not buy a $30 bag. I use Scotts All Purpose Flower & Veg etable Continuous`Release Plant Food and with a name that long it has to be good. A 3-lb bag costs $4.51 in Abaco. Other manufacturers have a similar product. Check out the price of fertiliser in both hardware stores and nurseries. There is often an appreciable difference. ` Milk Crates Plastic milk crates were made for gardeners. You can put your tools in them and carry them around easily. When tomato plants get out of hand, you can turn the crates upside down and support bunches of fruits off the ground. You can also sit on them when you weed and get your buns turned into waffles. Plastic Containers Lots of produce such as fresh fruit salads come in clear plastic containers that are wonderful for starting difficult seeds such as thyme and chives. Fill one half with soil and scatter your seeds. Dampen the soil and close the lid. Wait until you see green and then transplant. Tool Container Fill a cheap plastic bucket with dry builders sand and use it to store your trowels and oth er small digging implements. Just stick the blade into the sand and it will be cleaned as you store it in a handy position. Broomsticks The handles of old brooms and mops make serviceable supports for tomatoes and other plants. Cut off the action end with a machete and sharpen the broomstick as you do so. Soak the cut end (about 12 inches copper sulphate for a few hours or coat with a water seal. Hammer the sticks into the ground next to your tomatoes and tie them up for easy fruit retrieval. Snail Motel Prefer not to use snail bait in case you poison pets or birds? Place a piece of plywood on four rocks so it is supported about two inches off the ground. Do this near the edge of your garden where there is plenty of snail activity. Leave your motel for a week and then remove the plywood. You will find plenty of snails. How you dispose of them is up to you. A ham mer works and is organic. Roses Love Parsley Plant parsley around the base of your rose bushes as the two plants are mutually benefi cial. If you plant parsley from seed, do not forget to soak them in several changes of water over a day or two before planting. Some plants do not do well together. Bad pairings are: a) strawberries and cabbage; b) tomato and corn; c) beans and beets; d) beans and onions; e) onions and peas; f) sage and cucumbers. Coffee Filters Have you ever filled a pot with potting soil, watered it and watched the soil wash out through the drainage holes? It is better to fill your pot with soil that is already damp. Better yet, cover the drainage holes with one or more coffee filters. These provide excellent drainage and retain your soil. Also, when you add coffee grounds to your compost, tear up the filter and add that too. Save Seed If your seed package does not say that the plants you are growing are hybrid then you will be able to save the seeds to use for next season. I like to use kitchen towels for tomato seeds. Squeeze the seeds out and spread them with your finger. Allow two or three days for the seeds to dry then wrap them up and label them. Seeds should be kept in a cool and dry place. The only cool dry place in The Bahamas is your refrigerator. firstname.lastname@example.org N ot a gardener? GARDENERJACK FLORIDADE: A simple broomstick can support a tomato vine, especially Roma tomatoes. This is Floridade. FANTASTICPLASTIC: Plastic containers are not usually re-usable, but they can be for gardeners. GARDENING TIPS