Citation
The Tribune.

Material Information

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

Subjects

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

Notes

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

Record Information

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

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Full Text
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CLOUDY, A
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Volume: 107 No.19



US

SEE INSIGHT ON PAGE 12B



Numbers taking
a ‘major toll’ on
health care system

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

PRELIMINARY year-end
statistics for the National
Emergency Medical Services
department indicate there has
been a 44 per cent increase in
gunshot victims compared to
the same period last year.
According to Dr Alvery Han-
na, NEMS director, the
reports for the January to
October period indicate that
trauma — secondary to crimi-
nal activity — is taking a

“major toll” on the health
care system.

Late last night, the homi-
cide count climbed to 93 fol-
lowing the fatal shooting of a
man at Augusta Street.

Meanwhile on Friday
night, two shootings were
reported within 15 minutes of
each other. Both men — who
were taken to hospital by
National Emergency Medical
Services (NEMS) — were
said to be in stable condition
up to press time.

SEE page 13

TWO PARAMEDICS ACCUSED OF
EXTORTING TOURISTS BACK AT WORK

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

THE TWO paramedics accused of extorting tourists have
returned to work with top officials citing insufficient evidence.

In September, it was alleged that a two-member crew told two
visitors who were injured in a traffic accident that they would
have to pay up-front for treatment and transport.

SEE page 13

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MONDAY, DECEMBER 13, 2010



Christie: government has
shortchanged public
over proposed BTC sale

THE government has
shortchanged the Bahami-
an public in the proposed
sale of a majority stake in
the Bahamas Telecom-
munications Corporation
(BTC) PLP leader Perry
Christie said yesterday,
noting that his adminis-
tration had always intend-
ed for the Bahamian peo-
ple to retain ownership of
the company.
vs Facies he PERRY CHRISTIE
appeared as a guest on
the talkshow “Parliament Street,” on Island
102.9 said, “We actually engaged in a

SEE page 14

PRICE =75¢

SPORTS

oe
gunshot Victims

RU ee TS
HITS OUT AT ‘PREMATURE’
RUS @ tt

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

BTC'S union heads acted
"prematurely" and didn't go
through the proper legal chan-
nels before staging two days
of industrial action which
could create "anarchy" in our
society, said former trade
unionist Leo Douglas.

The union executives may
also face lawsuits over revenue
lost during two days of
employee protest, speculated
the former secretary general
of the Bahamas Hotel Cater-
ing and Allied Workers

SEE page 15



‘FLATBREAD:

BIG,

BOLD TASTE,
BIGGER SIZE.





(Abaco and Grand Bahama $1.25)



= SEE SECTION E

SEAT BELT LAW
COMES INTO
EFFECT TODAY

POLICE will be posted
at various points through-
out New Providence today
to enforce the seat belt law,
which has been on the
statute books since 2002.
They will be checking vehi-
cles and handing out infor-
mation pamphlets.

Motorists have been
advised to take the seat
belt law seriously as
“police intend to enforce
it to its fullest extent.”

Seat belt legislation was
passed and became law in
2002 under the FNM.

SEE page 14




POLICE and residents gather at the scene (above) and
(left) the body is removed from the area.



THE unprecedented homicide rate broke a new
record last night when a man was gunned down in
Augusta Street, near Tucker Corner in front of a
convenience store just before 7pm.

Multiple gunshot wounds claimed the life of the
country’s 93rd murder victim who was pronounced
dead at the scene of the shooting on the residential
street. Police had not identified the man before The
Tribune went to press, however anyone with any
information that could assist investigations should
call police as a matter of urgency on 911, 919, or call

Unions ‘are not backing
down’ over BTC sale

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

BAHAMAS Communications and Public
Officers Union president Bernard Evans says
the unions are not backing down in their fight
against the proposed sale of a majority stake
in the Bahamas Telecommunications Com-
pany (BTC).

Mr Evans said that union executives have
been encouraged by the overwhelming pub-
lic support. Several major unions in the coun-
try are also standing with the BCPOU in sup-
port of BTC workers. The unions represent-
ing BTC workers are objecting to the gov-
ernment’s plan to sell 51 per cent of the com-
pany to Cable and Wireless Communications
(C&WC). The government is proposing to
sell 51 per cent of BTC to C&W for $210

SEE page 14

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NASSAU AND BAHAM/

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PAGE 2, MONDAY, DECEMBER 13, 2010

LOCAL NEWS

THE TRIBUNE

Mother and daughter homeless for Christmas

Landlords remove doors after woman unable to pay rent

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By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A GRIEVING mother
and her daughter were forced
out of their home yesterday
morning when their landlords
removed the doors to their
rooms after already remov-
ing the front and back doors.

Theresa Gibson, whose
partner of 18 years and father
of her daughter, Elezier Reg-
nier died in February, has
been unable to pay the rent
at her two-bedroom home in
Faith Avenue since she
moved in on August 28 and
paid for two months accom-
modation.

When she was unable to
pay her rent at the end of
October, Ms Gibson said her
landlords sent someone over
to remove the front and back
doors while her daughter was
at home.

Locks

Mother and daughter spent
two nights sleeping in her
Nissan Skyline parked at the
police Criminal Detective
Unit before returning to the
home with locks on the inte-
rior doors.

But yesterday the doors to
her and her daughter’s bed-
rooms and the bathroom
were also removed, forcing
the family of two out of their
home.

Last night she and her
daughter Renee Regnier, 17,
out of desperation sought
refuge at her sister’s house,
but Ms Gibson said there is
really no room for them to
stay there.

The freelance legal assis-
tant has struggled to find
work in recent months, and
her financial situation took a
massive hit when her partner
died suddenly of a heart
attack.

But the start of their finan-
cial woes began when Mr
Regnier, a lawyer and out-
spoken human rights activist,
was charged in connection
with a stealing ring in July
last year.

Ms Gibson said police
seized several of her own
valuables as well as her part-
ner’s belongings in the arrest.

When Ms Gibson was
unable to pay her rent in
October she appealed to
social services for help, and
although government offi-
cials were willing to assist,
she said her landlord refused
to provide the documenta-
tion she needed to prove she
had not been able to pay the
rent.

Police

Her landlords then
removed the doors and Ms
Gibson went to police for
help.

But she said officers at the
Carmichael Road Police
Division were unwilling to
help as they said it was a civ-
il matter and they could not
get involved.

Ms Gibson has since been
summoned to appear in
court on January 18 to
respond to claims of unpaid
rent filed by her landlords,
and until then she and her
daughter are homeless for
Christmas.

She said: “It’s awful, espe-
cially for my daughter.

“Her father just died seven
months ago and we are try-
ing to pull ourselves togeth-
er; you would think some-
one would have some com-
passion.

“We need a place to stay
but with no funds we have
to depend on social services.

“The landlords didn’t want
to help, they just want me
out of here.

“They should not have
come in and removed the
doors without permission
from the courts, but the
police tell me there’s noth-
ing they can do about it,
which is awful because I feel
there is no one to protect
me.

“There should be laws to
protect me, but the police
are not enforcing the law.

“And I have been trying
to look for somewhere else
to live but because I don’t
have any money, no one will
have me.”



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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 3



LOCAL NEWS



CABLE AND
WIRELESS

WINS AWARD.

By MEGAN REYNOLDS
Tribune Staff Reporter

mreynolds@tribunemedia.net

TELECOMMUNICA- }
TIONS giant Cable and}
Wireless has won an award }
for providing a great envi- }
ronment in the workplace at }
its operations in Panama as }
Bahamas Telecommunica- }
tions Company (BTC)
employees protested over }
their impending privatisation }

of BTC.

Cable and Wireless will :
take 51 per cent ownership }
of BTC in January, sparking }
protest from staff who took }
strike action on Wednesday
and Thursday with repre- }
sentation from the Bahamas }
Communications and Public ;
Officers Union (BCPOU) }
and the Bahamas Commu- }
nications and Public Man- }
agerial Union (BCPMU), :
and the support of most, if }
not all, unions in the coun- }

try.

the unions.

The company maintains }
privatisation can be a suc- }
cess and cited its 1997;
takeover of government-}
owned telecommunications }
operations in Panama as an }

example of this.

Gallup Research select- }
ed Cable and Wireless Pana- }
ma (CWP) from more than :
one million work force i
groups in 150 countries to }
win the “The Great Work- }
place Award”, and be one }
of just two Latin American }
countries singled out for the }

prize.

the company; working:
together to achieve common }
objectives and continue to }
position it as the leader in }

Panama.

“We work on a scheme }
of open communication and }
transparent company-union }
relationship where we venti- }
late our plans, objectives and }

goals.

ties.

mitment.”

The success of CWP has }
also been recognised by}
Central American business }
magazine Estrategia and }
Negocios, who ranked it the }
best company to work for in }
the region, and market }
research company’s Dichter }
and Neira, and Globescan, }
named CWP one of Pana- }
ma’s leading companies for }
corporate social responsibil- }

ity initiatives.

CWP also claims to have }
contributed more than

SEE page six

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Cable and Wireless }
Caribbean, rebranded as }
LIME, has extended an}
open invitation to meet with }

Secretary of CWP’s staff
union Denia de Powell said: }
“The Cable & Wireless }
Panama Union maintains a }
very positive, constructive }
and vigilant relationship with }

“We have also conclud- }
ed the signature of a collec- }
tive bargaining agreement in }
a friendly environment, }
where our employees and }
the company succeeded in }
framing the benefits and
responsibilities with satis- }
factory results for both par- }

“Our workforce is com- |
mitted to the present and the }
future of CWP always giv- }
ing the extra mile to ensure }
that as shareholders of the }
company, we can achieve the }
best results because of our }
hard work and daily com- }

Onstituency poll shows many
support proposed BIC sale

A RECENT poll taken in
the Killarney constituency
shows that there are many
Bahamians who support the

government’s intention to sell
a 51 per cent stake in The
Bahamas Telecommunica-
tions Company to the British

nications (C& WC).

DEFENCE FORCE MAKES DONATIONS

THE Royal Bahamas
Defence Force made
separate presentations
to two charitable
organisations as a part
of its year long list of
activities commemo-
rating its 30th anniver-
sary of official estab-
lishment. At 10 am on
Friday National Secu-
rity Minister Tommy
Turnquest made a
donation to the Yellow
Elder Senior Citizens
Centre in Yellow Elder
Gardens.

At 1pm on the same
day another brief cere-
mony was held at the
Ranfurly Homes for
Children,
Street, to make anoth-
er donation.

Mackey &

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telecommunication company
Cable and Wireless Commu-

A recent poll conducted on

“Voices Killarney,” an online
news letter from the con-
stituency office of Dr Hubert
Minnis revealed that 67 peo-
ple who participated in the
poll supported the BTC deal
while 50 persons opposed the
deal. The poll, which was con-
ducted on December 10 and
11, also revealed that six per-
sons who participated in the
poll were undecided.

Among those who support-
ed the sale one person com-
mented, “I think the sale is
an excellent idea. C&W are
in the Caribbean Islands.
Although we are considered
ahead of them economically
their telephone technology is
far ahead of us.” Another
posted, “The union just needs
to get over it. It is ludicrous
that a union dictates who the

government sells any corpo-
ration to. The government is
elected by the people to con-
duct work on behalf of the
people so I believe that every
government would make
decisions that are in the best
interest of the country. Those
people at Batelco are lazy and
are afraid of privatization.”
Another person in support
of the sale commented, “The
sale of Batelco is long over-
due. We are paying far too
much for out dated systems
and service that is not cus-
tomer-oriented. I have been
trying to find out for over one
year how my land line was
turned over in the name of
my tenant and they were

SEE page six



















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PAGE 4, MONDAY, DECEMBER 13, 2010

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

BTC union getting poor advice in BTC sale

UNION LEADERS, who initially agreed
to meet with the proposed new owners of
BTC — and said so in writing — now main-
tain that the injection of outside capital and
expertise are not needed to bring down
telecommunication rates for customers. The
government, they say, can do that at any
time, because they own BTC, the former
BaTelCo.

Mr David Shaw, top Cable & Wireless
executive, who flew to Nassau especially to
meet with the union, the Opposition party
and members of the press, revealed that,
among other things, Bahamians were paying
20 to 30 per cent more for cellular services
than they should be.

BCPMU president William Carroll’s
reply to that was that it would only take a
telephone call or an e-mail from Prime Min-
ister Ingraham to reduce cellular phone rates
by 50 per cent. “We don’t need a foreign
company to reduce rates,” he said.

That statement was as dumb as the amus-
ing spoof e-mailed to me this week about
Sarah Palin, the former governor of Alaska
who claimed she was up on foreign affairs
because from Alaska she could see Russia
across the Bering Strait.

In this spoof a photo of an animated
Palin, telephone in one hand, pen in the oth-
er, is shown followed by this exchange:

“Hi. This is Sarah Palin. Is Senator
Lieberman in?”

“No, governor. This is Yom Kippur.”

“Well, hello, Yom. Can I leave a mes-
sage?”

For those of our readers not up on their
Jewish high holy days, Yom Kippur — the
Day of Atonement — is the holiest day of
the year for the Jewish people. And so Sen-
ator Joe Lieberman, the US senator for Con-
necticut, being a Jew, would not have been in
office on that day.

As for union leader Carroll to say that all
it takes would be a stroke of the Prime Min-
ister’s pen to reduce BTC rates, shows how
equally dumb he is about managing a busi-
ness. Other than collecting his own pay
cheque, he has obviously not had to find
payroll for a staff of more than 1,000 employ-
ees.

He does not understand that before the
Prime Minister can take up a pen to slash
rates, he would have to cut staff so that BT'C
could earn enough revenue to pay remaining
staff and operate at a profit. The Prime Min-
ister would have to find a hefty injection of
cash from somewhere to make BTC com-
petitive, because the day it loses its monop-
oly on cellular and fixed line services, that is
the day BTC closes unless it has a strong
international partner to make it competi-
tive.

The union maintains that it was kept in the
dark on the Memorandum of Understand-
ing, and various other details of the pro-
posed sale to Cable & Wireless. The gov-
ernment maintains that the public is not get-
ting the whole truth.

When the FNM took over the govern-
ment, it met an unsigned agreement between
the PLP government and Bluewater, which
was said at the time — 2006— was a bid
vehicle especially created to buy into and
privatise BTC. It was speculated that it was
likely backed by private equity financing.
Among its principals was a former chair-
man and CEO of Warner Music group, and
former financial officer of NTL, a UK based
cable operator. Bluewater, which was to get
49 per cent of BTC, had no track record.
Its principals obviously did not have the
money to pay cash on completion of the
deal. They were given six years to pay on
instalments — obviously out of what they
hoped to make from BTC. And for those six
years it was to have a monopoly on cellular
service. Bluewater, in an attempt to lock the
PLP government into the deal, wanted an
agreement that should the PLP renege on its
agreement, Bluewater would be paid $5 mil-
lion. It is understood that the privatisation
committee made up of then Minister Bradley
Roberts, James Smith, minister of state for
finance, and Dr Marcus Bethel, agreed the
proposal. However, the Christie cabinet
turned it down. On April 24, 2007 — a week
before election — the committee submitted
its report, which was approved, but not
signed by the Christie government.

The union had no objection to that deal,
which was to sell 49 per cent to Bluewater,
giving them full management control with
four Bluewater representatives and three
government members on the board. This
government’s sale to Cable & Wireless is
for 51 per cent.

The results are the same — the 51 per
cent gives them full management control
with four of their members on the board
and three from government.

However, there is a difference between
the two agreements — in the present agree-
ment with Cable & Wireless there are sev-
eral things that it cannot do without gov-
ernment’s consent, one of them being laying
off Bahamian staff.

The union claims that it was not aware of
the Memorandum of Understanding with
Cable & Wireless. We understand that gov-
ernment did not send it to the committee,
instead the Prime Minister personally sat
down with the union and discussed it with its
executive. Union members argued that it
did not want Cable & Wireless as their part-
ner. However, they agreed verbally and in
writing to meet with Mr Shaw, CEO of
Cable & Wireless, who was flying in espe-
cially to meet with them. Mr Shaw arrived,
the table for the meeting with refreshments
was ready when a message arrived that the
union would not be there.

Whoever the union’s behind-the-scenes
handlers now are — and what we hear, if
true, does not bode well for the union —
we suggest that in their own best interest
and that of their membership, they sit down
and talk with BTC’s new owners.

rt
Wrap your home | in the colours,

go f your dre re

! his Christma

Response
to article by
Mr Dupuch

EDITOR, The Tribune.

I SHOULD be grateful if
you would permit me to
respond to an article that was
written by Mr Pierre Dupuch
and published in your paper
last week (Dec. 2, 2010).

Firstly, I was not surprised
at the attempt by Mr Dupuch
to seek to discredit me when I
challenged him to speak the
truth about the dredging that
he alleged was taking place
in the Exuma Cays and the
Exuma Land and Sea Park.

I was somewhat disap-
pointed though, that the best
response he could muster was
to revert to heaping ill-names
on me and calling me rude
and arrogant.

It is remarkable that even
in the face of incontrovertible
evidence Mr Dupuch would
choose to ignore the facts and
continue on his mission of
misinformation about activi-
ties in the Land and Sea Park.
Mr Dupuch said “he thought
I called the show to prove
someone wrong.”

It was certainly not my
intention to prove anyone
wrong. But perhaps I did.
Indeed I stated at the outset
of the telephone conservation
that the programme host and
guest on the show (Mr
Dupuch) had a responsibility
and an obligation to speak the
truth about what was hap-
pening in the Exuma Land
and Sea Park. I indicated to
the host and his guest that
they were misleading the pub-
lic when they stated that
dredging was going on at Bell
Island in the Exuma Land
and Sea Park.

Coincidentally, last Satur-
day, Mr Wendell Jones and
the Jones Communications
team confirmed that my state-
ment about the project was
true, as no dredging had taken
place either in the park or on
the Island owned by the Aga
Khan.

I stated during the conver-
sation that neither the gov-
ernment nor I supported the
construction of commercial
marinas in the park.

But, I indicated that I did
not have any problem sup-
porting the creation of “safe
harbours” for the private
yachts of the owners of pri-
vately owned Cays in the
Exuma Land and Sea Park.

I confirmed that my views
on development in the Park
were different from those
individuals who believed that
the Park should be a “no
build zone,” consequently
opposing all forms of devel-
opment in the area. I
expressed the view that devel-
opment in the Park was
indeed necessary. But, I also
expressed the view that any
form of development had to
be carefully considered, well
planned, and properly man-
aged.

At no time during my con-
versation with Mr McKinney
and Mr Dupuch did I ques-
tion their reasons or objec-

LETTERS

letters@tribunemedia.net



tions to dredging or develop-
ment in the National Park.
However, I did say to Mr
McKinney that the pho-
tographs he claimed to have
in his possession that would
indicate active dredging on
Bell Island, were either from
a different island, old pho-
tographs or fraudulent pho-
tographs. Consequently, I
advised both Mr McKinney
and Mr Dupuch to discontin-
ue advancing false informa-
tion as it was negatively
impacting the lives of resi-
dents of Exuma, especially
those in the Exuma Cays.

When I called the talk
show, I also made the point
that dredging was not a new
phenomenon in the Exuma
Cays and the Exuma Land
and Sea Park. In fact, I made
the point that nearly every
single island in the Exuma
Cays has been dredged,
including Cambridge Cay, the
present headquarters for the
National Land and Sea Park.
In almost every case, dredging
in the cays was necessary to
create safe harbours, either
for the owners of the Cays or
for the creation of commer-
cial marinas outside the
National Park. (The Cays
include: Allen’s Cay, Norman
Cay, Wax Cay, Soldiers Cay,
Indigo Island, Cambridge
Cay, Bell Island, and Com-
pass Cay, etc).

While speaking to Mr
McKinney, I advised that he
should seek to give a balanced
view of Mr Hubert Ingra-
ham’s record with regards to
the protection of the environ-
ment and the National Park.
Indeed, I reminded the host
that it was the Ingraham’s
administration that was
responsible for placing the
Defence Force within the
Park to enhance protection
of the resources of the Park.
This action by the Prime Min-
ister was not without serious
political cost as members of
the PLP sought to gain polit-
ical mileage by saying all man-
ner of things about the
enforcement of regulations in
the Park. But, The Prime
Minister remained focused.
The people of the Exuma
Cays and The Bahamas, espe-
cially those in the fishing
industry, have expressed sup-
port (gratitude) for the
focused determination of the
FNM Government to protect
and preserve our heritage.
Moreover, many of the young
men in the Cays, despite their
initial opposition, have now
taken the opportunity to ven-
ture into different skills-sets,
including, guiding, boat rental,
carpentry and masonry. They
now support the general mis-
sion of the National Park and
have made it their duty to
protect and preserve the envi-
ronment.

It is now very obvious to
me that Mr Dupuch was up
to mischief once again. His
suggestion that I am an advi-
sor to the Prime Minister in
this context is but another
example of this mischief.

I would like to remind Mr
Dupuch of facts that he
should be aware of. The
Prime Minister is advised by
the Best Commission, the
Department of Physical Plan-
ning and other relevant gov-
ernment agencies on matters
of developments that may
require excavation or dredg-
ing. Mr Dupuch should also
be aware that the Public Ser-
vants who provide advice on
these matters do so profes-
sionally regardless to which
political party is in power or
which political party they sup-
port.

When I called the talk
show, I also took the oppor-
tunity to caution Mr Dupuch
that his newly found position
on dredging is not supported
by his previous actions on this
matter. I reminded him that
dredging was approved in the
Cays and in the Park when he
was a Cabinet Minister. Ican
only assume that he support-
ed it then because he did not
object to it nor did he resign
from the Cabinet.

I concluded my comments
by stating the following:

(1) I do not support dredg-
ing in the Exuma National
Land and Sea Park for com-
mercial reasons, but I do sup-
port some form of dredging
when necessary.

(2) Approval for dredging
in the Exuma Cays, including
the National Park to provide
safe harbours must be thor-
oughly planned and careful-
ly managed so as to minimise
any potential lasting damage
to the environment.

(3) I support the profes-
sionals who reviewed the
application and the related
environmental impact assess-
ment and who provided
advise to the Government.

(4) I support carefully
planned but limited develop-
ment on Island in the Exuma
Cays including Cays in the
National Land and Sea Park.

(5) Ihave always advocated
that developers should seek
to employ unemployed per-
sons from the surrounding
Cays so as to show good faith
to potential workers in the
area. It is my hope that Mr
Dupuch or anyone else not
continues to use this issue as
an opportunity to politicise
this approval to gain political
points to the peril of the good
people of the Exuma Cays.

I hope that I have clearly
stated my position on devel-
opment in the island of my
birth, and the islands that I
enjoy at every opportunity.

I would be grateful, if this
letter could be published in
your newspaper.

BRENSIL ROLLE
Nassau,
December 7, 2010.

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THE TRIBUNE



LOCAL NEWS

MONDAY, DECEMBER 13, 2010, PAGE 5



Christie clarifies intentions if re-electe

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

PROGRESSIVE Liberal
Party leader Perry Christie yes-
terday clarified his intentions
as to whether he will serve a
full term in office if re-elected
as Prime Minister.

Mr Christie, who appeared
as a guest on the Island 102.9
talk show “Parliament Street”
said, “I was trying to commu-
nicate in fact that at the end of
the term we should be in a
place to signal to the Bahamian
people what I mean by orderly
succession. When it was said
that I would leave mid-term or
when it was said that I said I
would leave mid-term that per-
haps was a mischaracterization
or a misstatement on my part.
“IT know that people will vote
for you because of what they
think you can do for them and
for me to hold out the proba-
bility that I would leave mid-
term would not be fair to the
people who would vote for me;
to present those programmes
and policies that we will pre-
sent during our next cam-
paign.”

It was reported last month
that Mr Christie had confirmed
that he would not serve out his
full term in office if re-elected
but hand over the country’s
leadership to a successor. Mr
Christie told members of the
press that he was confident that
the PLP would have a secure
future when he demits office in
light of what he cited as depth
at the leadership position.

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Prime Minister Hubert
Ingraham has stated that he
intends to lead the Free Nation-
al Movement into the next gen-

OPPOSITION LEADER
Perry Christie

eral elections and that “when
it's time for me to go —I will go
and the party will select my
replacement.”

AV UU Da OMT UNTIL Thy

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

ARMED robbers stormed
three businesses on Saturday
stealing cash and sparking
police investigations.

Keith’s Chicken Shack in
Fleming Street was robbed by a
masked man armed with a
high-powered weapon at
around 2.15am on Saturday,
police said.

The man, dressed in blue
jeans and a white T-shirt, with a
scarf tied around his face, stole
an undetermined amount of
cash from the restaurant before
running off in an easterly direc-
tion.

That evening an armed rob-
ber held up staff at the VIP
Chinese Express Restaurant in
East Street and Cordeaux
Avenue.

The robber wearing a white
tam, plaid shirt and blue jeans
was armed with a handgun
when he burst into the restau-
rant and demanded cash at
around 6.30pm.

He stole an undetermined
amount of cash before getting
away on foot. Just over an hour
later two masked gunmen
robbed D and C Convenience
Store in Fire Trail West.

Police said they burst into
the store armed with a shot-
gun at around 7.45pm, stole
an undisclosed amount of
cash before getting away on
foot.

Police are seeking informa-
tion to assist investigations into
all three armed robberies and
continue to search for two rob-

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bers, one who were masked and
armed with a handgun, who
held up a couple outside a
home in Allen Drive, off
Carmichael Road on Thursday
night.

The robbers stole the wom-
an’s handbag, watch, cellular
phone and other personal
items, and they took the man’s
cellular phone and cash before
they ran off at around 8.40pm
on Thursday.

In other crime news, police
have reported the arrests of two
men on firearms possession
charges.

Officers in the mobile divi-
sion seized two handguns and
ammunition when they
searched a man in Augusta
Street at around 8.30am on Sat-
urday.

A 28-year-old man of Quar-
ry Mission Road was arrested
in connection with the find.

Police in the Special Intelli-
gence Branch recovered a
handgun and ammunition when
they searched a man in Potter’s
Cay just before 11pm on Sat-
urday. A 35-year-old man of
Dorsette Street, Fox Hill, was
taken into custody in connec-
tion with the find.

A rifle and ammunition were
recovered by police officers in
the southeastern division when
they searched an abandoned
building in Nassau Village on
Thursday.

Police said the officers had
received a tip about the two-
storey building in Sumner
Street prompting them to
search it just before 3pm on
Thursday.

No one has been arrested in
connection with the find and
police are appealing for infor-
mation.

Any information that may
assist investigations into any of
the crimes reported this week-
end should call police as a mat-
ter of urgency on 911, 919 or
call Crime Stoppers anony-
mously on 328-TIPS (8477).

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PAGE 6, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



Police investigation after baby dies

A BABY was pro-
nounced dead at the Prince
Margaret Hospital this
weekend after police were
called for help.

The infant was reported
as being unresponsive at
around 10.30am on Satur-
day and taken to hospital
by Emergency Medical Ser-

vices. The infant was pro-

nounced dead at the hospi- the death.

MAN FOUND FLOATING IN LUCAYA CANAL IDENTIFIED :

FREEPORT - The man discovered floating in a Lucaya canal }
has been identified as 59-year-old Antonio “Spiderman” Fer- }
nandez. Fernandez’s body was found shortly after 9am on Thurs- }
day at the rear of the Bell Channel Hotel. There was no visible }
trauma to the body. Police are awaiting the reports of an autop- }
sy to determine the cause of death. ;

tal. Police are investigating i

FROM page three

allowed to transfer my phone
line when they gave up the
lease on my property. They
have also not been able to sat-
isfy me with what has hap-
pened to my security deposit.
The prices are too high, the
service is poor and I think we
need to up grade.”

Among those who opposed
the decision one person com-
mented, “I agree that staff
numbers need to be reduced
and employees simply more
efficient to cut operation
costs. However, if it must be
sold, it should be sold to
Bahamians with the capital
and vision to further advance
the company with the latest

Constituency poll shows many
support proposed BTC sale

technologies available in
phone and Internet services.”
Another stated, “Batelco
belongs to the people of the
Bahamas and should not be
sold. Bahamians should own
and run Batelco.” “I feel that
it was a very bad decision
because they sold such a great
portion of the company for
such little money BTC makes
a lot of money just in one
year. In two years time BTC
would have already made
over that amount so it really
made no sense selling for so
little,” another person com-

mented. Among those who
were undecided, one stated,
“Notwithstanding that the
sale is inevitable and probably
necessary. I'm curious to
know what criteria was laid
out to qualify as a purchaser.
Does C&W meet the criteria,
if they do and other compa-
nies also did, what were the
track records of the other
companies when compared to
C&W? Why must we sell 51
per cent as opposed to 49 per
cent. Why not consider a
group of Bahamians as
opposed to foreigners?”

Cable and Wireless wins award

FROM page three

$4,660 million to Panama’s economy since pri-
vatising the state-owned telecommunications
company INTEL in May 1997, and plans a
similar privatisation process for BTC next
year.

A statement released by CWP yesterday
maintains: “CWP’s business has been on a
journey from being a state-owned monopoly
(like BTC) to what is now a competitive, cus-

tomer-focused, but socially-conscious organi-
sation, that has been ranked by surveys one of
the most admired company in Panama.

“When reviewing its corporate actions,
CWP is proud to be among the largest corpo-
rate contributors to Panama’s education,
sports, culture, poverty.

“CWP is also strongly committed to sup-
porting the individual development of its
employees. CWP’s greatest assets are its peo-
ple and the company is committed to providing
excellent working conditions.”

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THE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 7

Crime prevention seminar held
for staff of robbery-hit chain



Event held under

theme: ‘HINTS - J Don t Just
Having Information think about it.
Needed to Beautity
Target Suspects’ your home

EMPLOYEES at one of
the largest self-service
laundromat chains, which
suffered a spate of armed
robberies last month,
attended a two-day crime
prevention seminar to pro-
tect against armed rob-
beries and fraud.

The police seminar lec-
tured 48 SuperWash
employees, along with
president Dionisio
D'Aguilar, under the
theme “HINTS - Having
Information Needed to
Target Suspects.”

Superintendent Wayne
Miller of the Central Divi-
sion explained the semi-
nar was part of a new ini-
tiative that sought to tar-
get repeat victims in the
business sector and imple-
ment crime prevention
partnerships.

Mr Miller said: “I'm
happy that we were able
to specifically target this
group of individuals, most
of whom would have



AN | 8

SEMINAR: Presenter Sgt Chrislyn Skippings speaks to those in

attendance.

dent of the Bahamas
Chamber of Commerce —
highlighted the need for
Strategies that would
reduce the volume of cash
businesses in the Bahamas,
which he felt would signif-
icantly reduce violent
crime.

Presenter Chrislyn
Skippings, police press
liaison, said: “It was a

good turn out, a group of
enthusiastic young people
who were grateful for the
knowledge and also
empowered by the infor-
mation.”

Individual seminars like
the one held last week, are
expected to continue with
the police targeting group-
ings that have been fre-
quent repeat victims.



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already witnessed armed
robberies first hand.

“It was good to be able
to meet with them, hold

Scripture Thought
il Hien ts eed Luke Chpt. 12: 29-34

Victory can only be had 29 “And do not seek what you should eat or what you
through a team effort, the should drink, nor have an anxious mind.

For CHILD,
HUSBAND, WIFE
BOSS,







community and police 30 For all these things the nations of the world seek after,

partnership, and that’s and your Father knows that you need these things. SECRETARY.
what we want to get out 31 But seek the kingdom of God, and all these things[a] J
there. We need the help of shall be added to you.

everybody.” . 32 “Do not fear, little flock, for it is your Father’s good
Hosted at the Police pleasure to give you the kingdom.

Training College on 33 Sell what you have and give alms; provide yourselves

Wednesday and Thursday, money bags which do not grow old, a treasure in the

SuperWash employees heavens that does not fail, where no thief approaches nor

also reccived information | goth destoys
On Pree oe 34 For where your treasure is, there your heart will be
for a criminal sketch.

Last month the laun- alse: mG \\\ < a\ . ALL

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During an interview
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TEEN KILLED
AFTER TRUCK
OVERTURNS

A TEENAGER was
killed in Exuma on Friday
when the truck he was dri-
ving overturned on the
Queen’s Highway in
George Town at about
3.15am.

Traffic police went
from Nassau to Great
Exuma on Friday to assist
investigations into the
crash.

Meanwhile Family
Island police in Ragged
Island continue to search
for three men who disap-
peared at sea on Tuesday
night and the diver who
was lost while looking for

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PAGE 8, MONDAY, DECEMBER 13, 2010

THE TRIBUNE





Revitalise the ACP fora

By SIR RONALD
SANDERS

(The writer is a
Consultant and former
Caribbean diplomat)

ON December 2, the gov-
ernment of the People’s
Republic of China posted on
its Foreign Ministry’s web-
site a response to a com-



insigh

mentary I had written enti-
tled, “Chinese take-away?”
The fact that the govern-

ment felt it necessary to post
its response on its official
website is indicative of the



sensitivity to the issues that
were raised in the commen-

tary.

Among the issues was the
need for a treaty to be nego-
tiated that would set out the
relationship between
Caribbean Community and
Common Market (CARI-
COM) countries and China
on a long term and pre-
dictable basis with regard to
aid, trade and investment.

It was envisaged that the
treaty would deal with issues
such as the paramountcy of

—~,

The

local laws in relation to the
use of labour and industrial
relations among other things.

In its response, the Chi-
nese government said that it
agreed with me “in the
necessity of China and the
CARICOM countries deep-
ening their ties of friendship
and cooperation via a long-
term and comprehensive
framework treaty or the
like.”

Therefore, there is clearly
an appetite in the govern-
ment of China for a binding
treaty, and one which
Caribbean governments
would do well to advance
while the interest remains.

In an earlier commentary
than the one to which the
Chinese government specifi-
cally responded, I had float-
ed the notion that such a
treaty could be structured
along the lines of the original
aid, trade and investment
agreements (Lomé and
Cotonou) that were negoti-
ated with the European
Union (EU) jointly by the
79 African, Caribbean and
Pacific (ACP) Group.

Given that China is now
very active in all three ACP
regions and that many coun-
tries in each of them are
being exercised over how
best to manage the China

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relationship, it may indeed
be appropriate for the ACP
to negotiate the overall
treaty that would govern the
relationship with China.

Separate protocols to the
overarching treaty could
cater for the specific circum-
stances of smaller nations.

The urgency of attending
to China’s relationship with
developing countries and
particularly small island
states is highlighted in a
recent report by the Inter-
American Development
Bank entitled: “Ten years
after take-off: Taking stock
of the China-Latin America
and the Caribbean Econom-
ic Relations.” More about
the economic relations
between Latin America and
China than the economic
relations between China and
the Caribbean, the report
shows that trade between
China and Latin America in
the period 2000-2008, “grew
at a breakneck annual rate
of 31 percent, and even dur-
ing the financial crisis in 2009
the dynamism remained
unabated.”

As the report states: “Hid-
den behind the impressive
bilateral trade figures of the
last decade, there is a heavi-
ly skewed distribution of
benefits.

“As of 2008, approximate-
ly 90 per cent of LAC’s
exports to China were com-
ing from just four countries
in the Southern Cone: Brazil
(41 per cent), Chile (23.1 per
cent), Argentina (15.9 per
cent) and Peru (9.3 per
cent)”. Caribbean countries
hardly featured as exporters,
and their balance of trade
remains heavily in China’s
favour.

The report also points out
that “China-LAC relation-
ship in the last decade has
stood almost entirely on one
pillar: trade.

“The other pillars of a sus-
tainable process of trade and
integration—bilateral invest-
ment and cooperation—have
been developing, but not at

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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 9



Chinese deal

the same pace, leaving room
for frictions.”

Chinese Foreign Direct
Investment (FDI) is also
heavily concentrated in the
Southern Cone, with Brazil
(41 per cent), Argentina (11
per cent), Peru (12 per cent)
and Chile (2 per cent)
accounting for 66 per cent
of the investment in
2003-2009. When Venezuela
is added to this group, the
combined share reaches 81
per cent.

The only two CARICOM
countries, mentioned in the
report, Guyana and Suri-
name received US$600,000
and US$24 million respec-
tively over the years 2003-
2009 in Chinese FDI.

All this suggests that
CARICOM countries are not
aggressively pursuing eco-
nomic relations with China
in a structured fashion. Each
country that has diplomatic
relations with China appears
to be pursuing ad-hoc, beg-
gar-thy-neighbour policies.
But with far fewer resources
of interest to China, CARI-
COM countries (except
Guyana, Suriname and
Jamaica which do have
resources in which China has
an interest), CARICOM
nations ought to be trying to
establish investment and
cooperation agreements with
China that go beyond trade
in goods.

Such a negotiation would
not be easy for the CARI-
COM region alone, as it
would not be for the Pacific
and certain countries in
Africa, although it has to be
acknowledged that several
African countries have over-
hauled their trading regimes
to make themselves far more
competitive than they used
to be.

In this connection, the
ACP Group with an existing
Secretariat and experience of
harmonising the needs and
negotiating strategies of its
member states would be the
ideal vehicle to negotiate an
overall trade, aid and invest-

ment treaty with China.

The basis for doing so is
already enshrined in the
Georgetown Agreement
signed on 6 June 1975 in
Guyana that formally estab-
lished the ACP Group.

In the preamble to the
Agreement, the governments
of the Group declared that
they are “desirous of enhanc-
ing the political identity of
the ACP Group to enable
them to act and speak with a
single voice in all interna-
tional fora and organisa-
tions,” and they set out
among their objectives
strengthening “the political
identity of the ACP Group
to enable it to act as a coher-
ent political force in interna-
tional bodies and to ensure
that due regard is accorded
its specific interests” and to
“establish contacts and rela-
tions with other States and
groups of States.”

In a world of fierce com-
petition in economic rela-
tions, and where, increasing-
ly, small states have to seek
alliances with others to
secure the attention they

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urgently need, the time has
come not only to strengthen
cohesion in the ACP Group
in its dealing with the EU,
but also to invoke its wider
mandate to bargain for its
member states as a whole in
other economic relations.
China would be the right
place to start now.

In the past, Caribbean
countries have been key
players in the formulation of
ACP ideas and strategies
that have benefitted all three
regions.

This could be another such
opportunity.

Which CARICOM gov-
ernment will hoist the ban-
ner?

Jamaica as the current
Chairman of CARICOM or
Trinidad and Tobago as the
current Chairman of the
Commonwealth that
embraces many of the ACP
countries should make bold
and do so.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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PAGE 10, MONDAY, DECEMBER 13, 2010

THE TRIBUNE

LOCAL NEWS

‘Contact Zone’ puts Bahamian
filmmaker in the spotlight

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BAHAMIAN filmmaker
Gustavius Smith’s short film
“Contact Zone” won the
2010 Bahamas International
Film Festival Short Film
Award at the festival's clos-
ing night ceremony at the
Atlantis Resorts and Casino.

Mr Smith was the recipi-
ent of BIFF’s Filmmaker
Residency Award in 2007 for
his screenplay “Built for
Load.” The story featured a
young Bahamian man who
runs a load of cocaine to pay
for his mother's life saving
operation.

Since being recognised by
BIFF in 2007, Mr Smith has
spent time perfecting his
craft.

“Long after the money
was gone I still had the con-
fidence I gained from win-
ning the residency award. I
dedicated myself to becom-
ing a better writer and find-
ing my directing voice. The
production value, the acting
and the script in my latest
short demonstrates that I
have what it takes to pro-
duce a theatrical feature at
the highest level,” said Mr
Smith.

“The genius of my desire
to make films started right
here at The Tribune, writing
news about Bahamians. With
my college background in
theatre, the rigors of writing
news stories on a daily basis
really prepared me for this
career,” he said.

“Contact Zone,” the film
winning BIFF’s most coveted
short film prize, is the story
of a janitor and curator who
have a one night stand dur-
ing the opening reception at
an art gallery in New York
City.

Even though they are co-
workers the curator doesn't
recognize the janitor until
the following morning at
work. To get him fired, she
claims her purse was stolen
but the janitor is also arrest-
ed and deported.

Gener

The short film category
was the most competitive at
the festival with over 39
international and local films.
The judges said that “Con-
tact Zone” introduces a new
dialogue about race from
both sides.

The film was shot in New
York City with professional
actors and crew with a bud-
get of over $50,000 and since
starting its festival run this
summer has received the
Best Narrative Short Award
at the Williamsburg Interna-
tional Film Festival in
Brooklyn, NY, and an Hon-
ourable Mention at the Mon-
treal International Film Fes-
tival.

“Contact Zone” is the first
sequence of a feature film
Smith hopes to go into pro-
duction this summer entitled
“Heading North.” He is cur-
rently looking for investors
to fund the film’s million dol-
lar budget.

The main character in his
short film will become one
of the main co-characters in
the feature film. The cast is
expected to feature local and
international actors, with
filming locations in Haiti, the
Bahamas and West Palm
Beach.

“Heading North” is the
story of Valerie, a Haitian
teenage girl, who risks her
life to reunite with her moth-
er. After leaving Haiti on a
boat bound for Miami,
Valerie finds herself on a
treacherous journey — stuck
in a human trafficking ring
in The Bahamas.

“It's a gripping narrative
of determination and family
bonds where human traf-
fickers prey on the hopes of
migrants. While untold num-
bers of islanders perish on
these hope journeys north,
Valerie's story gives us a
window to the world of mod-
ern day slavery and an ambi-
tious story of survival,” said
Mr Smith.

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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 11

LOCAL NEWS

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - Police in the
Eight Mile Rock Division con-
ducted its final walkabout in
that settlement, distributing fly-
ers with safety tips to residents
and business owners in the
Hanna Hill and Bartlett Hill
areas.

Supt Christopher Pickstock,
officer in charge of the Eight
Mile Rock Division was
accompanied by ASP Loretta
Mackey, Corporal Christina

King, and officials from Road
Traffic officials, and Urban
Renewal.

In view of the number of
housebreakings and armed
robberies on the island, Ms
Mackey said it is important
that persons are vigilant, espe-
cially during the Christmas hol-
iday.

She said business persons
should make frequent deposits.
“Individuals should not have
large sums of cash on them,
and when making deposits
they should not take the same
route daily,” she added.



ASP Mackey said if persons
suspect that they are being fol-
lowed they should drive to the
nearest police station for assis-
tance or to a gas station.

She said residents should
take measures to secure their
property, and personal items,
such as jewellery, cellular
phones, laptop computers,
from criminals.

Ms Mackey said criminals
also target persons at stores,
ATM machines, and banks.

“Residents should be very
aware of their surroundings,”
she said.

















CS or a
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Real Estate: More or less!

By MIKE LIGHTBOURN 100% Leather

their home and this exemplifies the
concept of time pressure. The hus-
band was offered a promotion back
in Nassau.

They were anxious to move to
take advantage of the better offer
and they needed to sell the home to
buy one in Nassau. They weighed a
higher selling price for their home
against a fast move to the new job.
The new job won out, resulting in a
lower than fair market value sale
price.

Keep in mind that even when the
final sale price of real estate is high-
er or lower than “fair market val-
ue,” both buyer and seller may experience
complete satisfaction with the transaction.

A RESTAURANT in the east
paid 50 per cent more than “fair
market value” for land adjoining
its existing property which it need-
ed for parking. In another trans-
action, a couple in an Out Island
agreed to accept $50,000 less than
“fair market value” for their mod-
estly priced home.

Once “fair market value” is
established on real estate, other
factors such as availability and
time pressure may influence the
final sales price.

The restaurant wanted additional prop-
erty to use for much needed parking for
patrons. This adjacent property was the only
suitable option.

Thus the adjacent land held more value
for the restaurant because of its location,
and they were willing to pay the extra price.

The couple accepted less than fair value for



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THE TRIBUNE



LOCAL NEWS

MONDAY, DECEMBER 13, 2010, PAGE 13



Huge increase in
ounshot victims

FROM page one

Dr Hanna said: “As with
any other EMS department
delays may be experienced
from time to time when all
units are engaged. Our usual
high call volume is further
increased by the rise in vio-
lent crime presently occurring
in New Providence.”

The first shooting on Fri-
day was reported at Eneas
Street off Poinciana Drive. A
man was said to have received
multiple gunshot injuries after
he was approached by anoth-
er man with a dreadlocks
hairstyle, who was armed with
a firearm.

The second shooting took
place at Hutchinson Street
where a man was shot in his
right leg. The victim was

approached by three men in a
silver coloured Honda, one of
whom got out of the vehicle
armed with a handgun and
started shooting in his direc-
tion.

In November, the police
were said to have recovered
more than 270 illegal weapons
and more than 6,000 rounds
of ammunition.

Last Thursday, the fatal
shooting of Charles Minns,
34, at Farrington Road
pushed the homicide count to
92.

The country’s former homi-
cide record of 87 was broken
late last month for the second
consecutive year.

In face of these challenges,
the department was said to be
actively pursuing a number of
initiatives, among them the
purchase of five new ambu-

lances which are expected to
arrive by March of next year.

Dr Hanna added: “We
have as an ongoing initiative
to procure equipment and
supplies for the department
that will enable us to better
serve the public.

“The PHA is in the process
of ordering additional equip-
ment such as heart monitors,
stretchers and supplies for
oxygen administration.”

In partnership with the

Wrap u

Miami-based Jackson Memo-
rial Trauma Centre, the
department is also working to
incorporate telemedicine by
mid-2011.

The technology, which will
feature camera monitoring on
ambulances, is expected to
improve medical services
available to emergency
patients en route to the hos-
pital by allowing viewing for
physicians in the Accident
and Emergency Department.

REVOLUNTIONARY
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Is not going anywhere, Will not be erased or disappear.
We will continue to serve. Others must learn to co-

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Cease, Desist and Respect Civil Liberty. Others must
know better or ought to know better.

Happy New Year!

Tel: 676-3591 / Fax: 676-3630
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te the Aolidays with us!

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Paramedics accused
of extorting tourists

return to work
FROM page one

Dr Alvery Hanna, NEMS director said: “The PHA’s
disciplinary committee has found insufficient evidence
to warrant dismissal of these staff members and they
have returned to work.”

Meanwhile, the department plans to roll out a series of
initiatives next year that they feel will decrease current
challenges to care provided.

In an effort to circumvent delays in customer service
and other issues that may affect emergency response
times, the position of Shift Supervisor will be intro-
duced.

Dr Hanna said: “The presence of shift supervisors will
enhance the monitoring of all activities of NEMS witha
view to addressing any challenges that may arise, partic-
ularly those that may result in delays and those that
relate to customer service.”

In addition to five new vehicles, the department is
also working to incorporate telemedicine by mid-2011
through a partnership with the Miami-based Jackson
Memorial Trauma Centre.

The technology, which will feature camera monitoring
on ambulances, is expected to improve medical services
available to emergency patients on their way to the hos-
pital by allowing viewing for physicians in the Accident
and Emergency Department.

Dr Hanna added: “In our efforts to decentralize the
EMS in New Providence and improve our response time
to the out-lying regions of the island, we have undertak-
en in association with the Nassau Airport Development
company to have an ambulance dispatched from the
Lynden Pindling International Airport during regular
working hours.”



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PAGE 14, MONDAY, DECEMBER 13, 2010 THE TRIBUNE



LOCAL NEWS



Seatbelt law comes Unions ‘are not
today

hacking down’

into effect

FROM page one

However, when the PLP
took office in 2007 an
attempt was made to
amend the Act to lessen
the fines for offenders.
The proposed amend-
ments never became law
under the PLP. The 2002
Act, which is the law, will
now be strictly enforced.
Section 42 of the Road
Traffic Act, chapter 220,
provides that any person
driving a motor vehicle
must be secured by a seat
belt and must ensure that
any passengers in their car
are similarly secured.
Children under five
must be in child safety
seats and secured in the
car's back passenger seats.
Any driver of a motor
vehicle who drives with-
out a seat belt or allows a

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belt commits an offence
and is liable on summary
conviction to a fine of
$300.

A passenger who rides
in a vehicle without a seat
belt commits an offence
and is liable on summary
conviction to a fine of
$100.

Any person found dri-
ving a motor vehicle at the
time of breach, who per-
mits a child to ride with-
out a seat belt or secured
in a child seat will be
liable upon conviction to a
fine of $500 under the
Act.

These provisions will
not apply to motorcycles,
tractors, buses and trucks,
except for the driver's seat
and the person sitting in
the front passenger’s seat.

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- over BIC sale

FROM page one

million plus taxes.

“We are not going to back up from this. We are going to do
all that is necessary. The government is supposed to listen to the
voice of the people,” Mr Evans said. Last week during a mass
rally at the end of two days of industrial action by hundreds of
BTC workers, union executives threatened to disrupt work at
all government corporations and companies across the country
if control over BTC does not remain in the hands of Bahami-
ans.

“Nothing is off the table,” Mr Evans said in reference to the
threat. Mr Evans said union executives have not met with
C&WC CEO David Shaw and do not want to do so. Mr Shaw
last week denied claims that the government is selling BTC in
a "fire sale," claiming that the $210 million price tag is just.

“This company (CWC) has that much of a bad track record.
Their track record speaks for itself. We have asked the gov-
ernment to show us where they have changed,” Mr Evans
said. BCPOU executives are expected to appear in court on
Tuesday in relation to what the government called an “illegal
work” stoppage.

“They have no grounds to stand on,” said Mr Evans. “No
court injunction is going to stop this momentum. We feel good
about this,” Mr Evans said. Last week, in an attempt to avert
further industrial action BTC executives secured an injunc-
tion from the Supreme Court, forcing hundreds of disgrun-
tled employees back to work.

Christie: government has
shortchanged public over
proposed BIC sale

FROM page one

process, completed a process
and agreed to sell 49 per
cent for $260 million . This
government has decided to
sell 51 per cent for $210 mil-
lion and we thought they
had short changed the
Bahamian public.” The pre-
vious PLP administration
came close to a $260 million
sale of 49 per cent of BTC to
Bluewater Ventures Limit-
ed.

Mr Christie said that it
had always been the inten-
tion of his administration for
the Bahamian people to
retain ownership of BTC.
“We were not going to put
the country in a risky posi-
tion where we put Cable and
Wireless as a 51 per cent
shareholder and find out
that that was a bad mistake
and we had to get ourselves
out of it and that is the prob-
lem with this decision mov-
ing forward. “So from our
point of view we would have
been getting the benefits of
privatization. We were also
doing it on the basis that we
were going to have a
Bahamian led enterprise
whose intention it was to
move from the Bahamas
and if possible go into Haiti,
Cuba and go to the rest of
the Caribbean, leaving the
Bahamas as a dominant
place for this particular com-
pany,” Mr Christie said.

Mr Christie further
explained, “We inherited
the bidding process of the

FNM government in 2002.
We allowed that to continue
to an end where we rejected
a price from the winning
company that was recom-
mended by the consultants
the FNM government had
hired. They recommended
that we accept $140 million,
we rejected that. We were
committed ourselves to pri-
vatization and selling 49 per
cent. We then re-appointed
the privatization committee
which included both unions
of Batelco and headed by
the financial secretary. We
had a number of foreign
experts to advise my gov-
ernment. We went with a
very transparent process.
We discussed with all the
companies interested. Ulti-
mately we were advised to
negotiate with a company
called Bluewater,” Mr
Christie said.

The government agreed
to pay Bluewater $1.9 mil-
lion to settle an arbitration
claim which alleged that the
current Free National
Movement administration
violated the proposed deal
the investment company
reached with the last Pro-
gressive Liberal Party
administration to buy 49 per
cent of BTC. The Ingraham
administration in defense of
its decision in relation to
Bluewater has stated that
the company was foreign
entity with no experience in
the telecommunications sec-
tor.

¢ SEE PAGE FIVE

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THE TRIBUNE



MONDAY, DECEMBER 13, 2010, PAGE 15
LOCAL NEWS



Former trade unionist
hits out at ‘premature’
BTC industrial action

FROM page one

Union.

"Speaking from my (expe-
rience) as a trade unionist I
don't think that was the right
action to take, it’s premature
because there is no final
agreement at this time (over
BTC's sale)," said Mr Dou-
glas, who stressed that he was
trying to help the unions
involved, not lambaste them.

"The union leaders must be
very careful because I have
had this experience where
one of our executives went
and pulled employees (off the
job) out in Grand Bahama
and the (company's) lawyer
went to court and sued the
union for revenue they lost
for that action," he added.

He explained that union
executives should have polled
its members for a strike vote
and had a cooling off period
before industrial action could
begin.

"You can't just go on the
streets and take things in your
hands before you know
what's going on. It's not a
criticism, it is trying to help.
The law is clear — it says
before you can take any strike
action, legally you have to go
through the conciliatory
process, take a strike vote and
take a cooling off period. You
can't speak for your union
until you get that vote from
membership.

Encouraging employees to
illegally walk off the job will
create "anarchy in this soci-
ety. Everyone will think you
can just come and go how you
like," Mr Douglas added.

Meantime employees of
BTC - which has been
dogged with complaints of
poor service, jammed net-
works and overbilling —
should focus on productivity
and customer service instead
of walking off their jobs dur-
ing this period of high unem-
ployment, he said.

"Many citizens of this coun-
try do not agree with that
(industrial action), I live in
Freeport, and if you walk the
streets people are upset.
Don't play with your job, give
the best service that you can
to the consumers in times
likes these when people are
praying for a job."

Last Tuesday and Wednes-
day hundreds of BTC
employees did not work, stag-
ing marches and motorcades
in protest of the conditions of
sale of the telecommunica-
tions company. Instead of
organising more protests the
unions should accept Cable
& Wireless' invitation to sit
down and discuss how to pro-
tect BTC employees, Mr
Douglas said.

"Every union has an indus-

trial agreement and it sets out
the relationship with employ-
ees and I'm sure the union of
BTC is not any different. It
must have a clause in it which
speaks of change of owner-
ship.
"If the CEO of Cable &
Wireless says 'Come meet
with me’ that means the fella
has good intentions."

Mr Douglas, who has more
than 40 years experience as a
trade unionist, added that he
is satisfied that the Cable &
Wireless deal is a good one
for the country.

"T have all confidence in
the present prime minister
that he will not do anything to
hurt the Bahamian people. I
don't know why people
believe that they are more
Bahamian than certain peo-
ple and no one is more
Bahamian than Mr Ingraham,
he was like me going to
school with nothing to eat,
some of our people who talk-
ing never know a hard day in
this country. I have all confi-
dence in Mr Ingraham that he
will do the best for the
Bahamian people,” Mr Dou-
glas said.

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PAGE 16, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



INTERNATIONAL NEWS

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STOCKHOLM

NO ONE died except the sus-
pected bomber, but two explo-
sions in Sweden's capital tore at
the fabric of this tolerant and
open nation — a society that
hadn't seen a terrorist attack in
more than three decades,
according to Associated Press.

Two people were wounded in
central Stockholm on Saturday
in what appeared to be the first
suicide bombing in the history of
Sweden, which has been spared
the major terrorist strikes seen
in several other European coun-
tries.

Acar exploded in the middle
of the seasonal shopping fren-
zy, shooting flames and causing
several smaller blasts as people
ran screaming from the scene.
The blast that killed the alleged
bomber came moments later
further a few blocks away on a
busy pedestrian street.

Experts said the alleged
bomber probably didn't succeed
in detonating all the explosives
and could have caused much
greater damage.

While police haven't con-
firmed that Saturday's attack
was motivated by Islamist views,
an audio file sent to Swedish
news agency TT shortly before
the blast referred to jihad, Swe-
den's military presence in
Afghanistan and a cartoon by a
Swedish artist that depicted the
Prophet Muhammad as a dog,
enraging the Muslim world.

It hasn't been verified that the
speaker is the person who set
off the explosive, but police have
said they are investigating that
possibility.

"Now the Islamic state has
been created. We now exist here
in Europe and in Sweden. We
are a reality,” the voice said in
the file, submitted to The Asso-
ciated Press by TT. "I don't
want to say more about this.
Our actions will speak for them-
selves."

Swedish Prime Minister
Fredrik Reinfeldt said Sunday
the attack was "unacceptable"
but urged Swedes not to jump to
"premature conclusions" that
"create tension which paints pic-
tures that are then difficult to
change."












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ES attend the scene after a car exploded in the

center of Stockholm on Saturday. Two separate explosions shook a
busy shopping area in central Stockholm on Saturday, injuring two
people and leaving one person dead, rescue officials said. (AP)

"Sweden is an open society ...
which has stated a wish that peo-
ple should be able to have dif-
ferent backgrounds, believe in
different gods ... and live side
by side in our open society,"
Reinfeldt said at a news confer-
ence.

Swedes, with a tradition of
welcoming immigrants and a
culture of transparency, began
questioning the veracity of their
self-image as a secure nation
after the 1986 murder of Prime
Minister Olof Palme. In 2003,
the fatal stabbing of Foreign
Minister Anna Lindh in an
department store was another
wake-up call.

But there have been no major
terrorist strikes.

"We had a terrorist attack in
the 1970s from the Rote Armee
Friktion of Germany, but if this
is a suicide bomber it is the first
time in Sweden," security police
spokesman Anders Thornberg
told The Associated Press. "It's
very serious and it's very tragic
that these things have come to
Sweden too.”

On Sunday, the pedestrian
district where the explosions
occurred was eerily quiet and
empty for a mid-December
weekend.

"We're used to seeing things
like this on the news. This was a
lot closer to home but it still
doesn't feel very tangible," said
Eric Osterman, a 26-year-old
student.

German tourist Melanie
Ziethmann, 34, said she heard
the bang of the explosion Sat-
urday but didn't realize what it
was until a friend in Germany
contacted her to make sure she



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was OK.

"We were surprised that this
happened in Sweden," Zieth-
mann said. "It was quite shock-
ing. I thought it was very safe
here.”

In October, Sweden raised its
terror threat alert level from low
to elevated because of what
police called “a shift in activi-
ties" among Swedish-based
groups that could be plotting
attacks.

Days later, police made sev-
eral arrests in an alleged bomb
plot in the country's second-
largest city, Goteborg. The sus-
pects were later released and
police said the city was no longer
deemed under threat.

Magnus Norell, a terrorism
expert at the Swedish Defense
Research Agency, said it was
just a matter of time before Swe-
den was hit by a terrorist attack.

"Sweden isn't an isolated
island, even if we might think
that sometimes," he said. "We
have only been lucky so far."

Norell said Sweden has the
same growing radicalization
among Islamic groups as other
countries, with young men trav-
eling to training camps in coun-
tries such as Somalia and Pak-
istan.

"The whole idea is that this is
a global war for them and that
the target exists everywhere, all
over the world," he said.

The 2007 drawing of the
Prophet Muhammad by Lars
Vilks has raised tensions before
in Sweden. In May, Vilks was
assaulted while giving a speech
in Uppsala, and vandals unsuc-
cessfully tried to burn down his
home in southern Sweden.





THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 17



INTERNATIONAL NEWS

Documents: US aimed to

counter C

CARACAS, Venezuela

US. DIPLOMATS discussed
efforts to counter Venezuelan
President Hugo Chavez's influ-
ence in Latin America and tried
to dissuade Russia from ship-
ping anti-aircraft missiles to his
government, according to clas-
sified documents released by
WikiLeaks, according to Asso-
ciated Press.

One secret 2008 document
from the U.S. Embassy in
Colombia said then-Colombian
President Alvaro Uribe urged
the U.S. government “to lead a
public campaign against
Venezuela,” and it said the pres-
idents of countries such as Mex-
ico, Panama and Costa Rica
were "natural leaders to counter
Chavez."

The document, dated Jan. 28,
2008, and posted online Friday,
was one of several leaked in the
past week that discussed efforts
to marginalize Chavez interna-
tionally and prevent arms ship-
ments. The friction between
Washington and its most vocif-
erous opponent in Latin Amer-
ica has been public and notori-
ous, but the newly released mes-
sages reveal glimpses of behind-
the-scenes U.S. diplomatic
efforts against Chavez.

An earlier secret U.S. memo,
from the embassy in Santiago,
Chile, on June 18, 2007, showed
American officials were analyz-
ing “ways the U.S. can counter
Chavez and reassert U.S. lead-
ership in the region." The
embassy document offered a
host of suggestions to Washing-
ton and other U.S. embassies.

"Know the enemy: ... To
effectively counter the threat he
represents, we need to know
better his objectives and how he
intends to pursue them. This
requires better intelligence in
all of our countries” on issues
such as Venezuela's close rela-
tionship with Iran, it said.

The 2007 report, released
Thursday by WikiLeaks, said if
such U.S. efforts are successful,
"we will make quick inroads
into marginalizing Chavez's
influence.” It also said U.S.
diplomats should aim to make
sure "the truth about Chavez —
his hollow vision, his empty
promises, his dangerous inter-
national relationships starting
with Iran ... gets out, always
exercising careful judgment
about where and how we take
on Chavez directly/publicly."

Other newly released docu-
ments suggest American diplo-
mats have been privately
expressing concerns to Russian
officials since at least 2005 about
some of Chavez's multibillion-
dollar arms purchases — which
have included Russian-made
helicopters, warplanes, tanks
and 100,000 assault rifles.

A secret Feb. 14, 2009, memo
from Secretary of State Hillary
Rodham Clinton's office to the
US. Embassy in Moscow said
the American government had
been raising concerns with Russ-
ian officials for four years about
a possible sale of weapons
including shoulder-fired Igla-S
surface-to-air missiles. It said
"Igla-S (SA-24) is ... considered
one of the most lethal portable
air defense systems ever made,"
and that American officials
feared it could end up in the
hands of the leftist guerrillas of
the Revolutionary Armed



= a

VENEZUELAN PRESIDENT:
Hugo Chavez (AP)

Forces of Colombia, or FARC,
due to corruption and alleged
Venezuelan links to the rebels.

"We fear that should these
sophisticated systems fall into
the hands of the FARC, they
could possibly be sold or traded
to drug organizations, including
those in Mexico, which are
actively seeking to acquire pow-
erful and highly sophisticated
weapons for use against gov-
ernment forces," the memo said.

Another leaked communique
dated Aug. 10, 2009, shows that
the U.S. State Department tried
to enlist help from Spain and
Sweden to raise its concerns
with Russia.

It said "Sweden and Spain are
well positioned ... to urge other
EU members, as well as Russia,
to strengthen transparency and
accountability in arms exports
to Venezuela." It included talk-
ing points for the embassies in
Stockholm and Madrid.

It's unclear what results, if
any, those diplomatic efforts
yielded, or what came of the
US. diplomats’ talk of stepping
up efforts to marginalize Chavez
internationally in 2007.

A memo from Clinton's office
on Aug. 6, 2009, said Russian
officials had informed their
American counterparts of the
transfer of 100 Igla-S missiles to
Chavez's military. It said that
Russian officials assured Amer-
ican diplomats that "transfers
from Venezuela to the FARC
cannot take place."

It's unclear how many of the
weapons Chavez has obtained,
but in December 2009 he said
publicly that his military had
obtained thousands of them.

Chavez, a leftist former army
paratroop commander, has
denied aiding the FARC and
has called for an end to the
neighboring country's decades-
long conflict with the rebels. He
has said he is equipping his mil-
itary to defend against any pos-
sible U.S. threat — an idea
American officials have repeat-
edly dismissed.

He has not responded in
detail to the documents divulged
by WikiLeaks but has said that
they show "the immense effort
of the United States ... to try to
isolate the Bolivarian Revolu-
tion and this soldier here."

Chavez, who says he is lead-
ing Venezuela toward socialism,
has crusaded against USS.
"imperialism" while drawing
close to countries such as Iran,
Cuba and Syria.

A secret memo from Clin-
ton's office, dated March 24,
2009, informed the American

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havez, arms deals

embassy in Turkey that
Venezuelan officials were
expecting a shipment of drone
aircraft — "unmanned aerial
vehicles ... and related material
from Iran" — to arrive in a ship-
ment via Turkey.

It was unclear whether that
shipment ever arrived, but the
memo asked diplomats to urge
the Turkish government, a
NATO ally, "to take action
against this shipment.”

The documents released so
far show that American officials
also have been closely analyz-
ing Chavez's political vulnera-
bilities and his standing abroad
— and that some officials of oth-
er countries have shared unflat-
tering assessments.

An October 2009 memo
showed that Mexican President
Felipe Calderon told a US. offi-
cial last year that Latin America
"needs a visible U.S. presence"
to go up against Chavez's grow-
ing influence.

The U.S. Embassy in Madrid
reported on July 21, 2008, that
Spanish diplomat Trinidad
Jimenez — now the country's
foreign minister — described
Chavez as "a brute, but not a
stupid one." Another embassy
report, from Nov. 6, 2007, said
that Jimenez "described Chavez
as being in ‘another world.'"

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PAGE 18, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



INTERNATIONAL NEWS

Climate talks nearing
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CANCUN, Mexico

NEARLY 200 environment
ministers and other delegates
moved late Friday toward
wrapping up an annual U.N.
climate conference with a pack-
age of decisions on modest
steps, including a fund to help
poorer nations cope with glob-
al warming, according to Asso-
ciated Press.

In a late-night open session,
country after country endorsed
the latest compromise texts to
emerge from two-week-long
talks that went virtually non-
stop since Thursday, describing
them as key to restoring
momentum and trust in the
UN. climate negotiations.

"What we have now is a text
that, while not perfect, is cer-
tainly a good basis for moving
forward,” said chief U'S. nego-
tiator Todd Stern. His Chinese
counterpart, Xie Zhenhua,
sounded a similar note and
added, "The negotiations in the
future will continue to be diffi-
cult.”

Those two nations, the
world's biggest emitters, will be
at the center of those future
negotiations, as the Cancun
talks, once again, did not take
up proposals for a grand com-
pact mandating deep cuts in
global warming gases.

Underscoring what's at stake
in the long-running climate
talks, NASA reported that the
January-November 2010 global
temperatures were the warmest
in the 131-year record. Its data
indicated the year would likely
end as the warmest on record,
or tied with 2005 as the
warmest.

Bolivia and Cuba criticized
the draft accords, raising the
possibility that one or both
might block consensus agree-
ment. But it remained to be
seen whether their concerns
could be allayed by modifying
the text in further consultations
early Saturday, and whether
they would act to prevent adop-
tion of the decisions.

The cross-cutting interests of
rich and poor nations, tropical
and temperate, oil producers,
desperate islanders and com-
fortable continental powers, all
combined once more to tie up
the annual negotiating session
of environment ministers past
its 6 p.m. Friday scheduled fin-
ish.

After many hours behind
closed doors at a sprawling
beachside resort hotel, leaders
of the negotiating groups sub-
mitted the latest, slimmed-
down versions of the main pro-
posed texts for review.

"We are almost through this
process," Mexican Foreign Sec-

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GREENPEACE ACTIVISTS form the word hope as a question with
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the site of the United Nations Climate Change Conference in Can-
cun, Mexico. (AP)

retary Patricia Espinosa, the
conference president, told del-
egates.

Negotiators earlier reported
progress on the key issue of the
Green Climate Fund, which is
to aid developing nations
obtain clean-energy technolo-
gy for cutting their own green-
house gas emissions and adapt
to potentially damaging climate
change — by shifting agricul-
tural practices, for example, and
building seawalls against the
rise of warming seas.

In the "Copenhagen
Accord" that emerged from last
year's climate summit in the
Danish capital, richer nations
promised $100 billion for such a
fund by 2020.

"There is a consensus that
we set up a climate fund,"
Bangladesh's state minister for
environment, Mohammed
Hasan Mahmud, reported Fri-
day. Details of the fund's over-
sight were left to post-Cancun
negotiations, and the eventual
sources of the financing were
not identified.

A UN. advisory panel had
suggested placing levies of
some kind on the fuel or emis-
sions of airlines and merchant
shipping, but such a proposal
was dropped during the nego-
tiations here.

Mahmud lamented that once
again a hoped-for overarching
pact to slash global emissions
was being deferred at least
another year, to the 2011 con-
ference in Durban, South
Africa.

"I doubt if the Durban (con-
ference) will deliver the
desired level of results if the
negotiations go the way we
have been going through
here," he said.

Bolivian chief negotiator
Pablo Solon was more sharply
critical of the eleventh hour
proposed text: "We have before
us a document of ‘take it or
take it.'"

Other issues that faced
intense last-minute negotiation:

—Setting up a global struc-
ture to make it easier for devel-
oping nations to obtain patent-
ed technology for clean ener-
gy and climate adaptation.

—Pinning down more ele-
ments of a complex, controver-
sial plan to compensate poorer
nations for protecting their cli-
mate-friendly forests.

—Taking voluntary pledges
of emissions controls made
under the Copenhagen Accord
by the U.S., China and other
nations, and "anchoring" them
in a Cancun document, giving
them more formal U.N. status.

—Agreeing on methods for
monitoring and verifying that
developing nations are fulfill-
ing those voluntary pledges.

UN. officials had described
these secondary items as

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"building blocks" to restore
momentum to the U.N. process
after the failure of last year's
climate summit in Copenhagen
to produce a long-anticipated
global emissions-cutting pact.

In the 1992 U.N. climate
treaty, the world's nations
promised to do their best to
rein in carbon dioxide and oth-
er heat-trapping gases emitted
by industry, transportation and
agriculture. In the two decades
since, the annual conferences’
only big advance came in 1997
in Kyoto, Japan, when parties
agreed on modest mandatory
reductions by richer nations.

But the U.S., alone in the
industrial world, rejected the
Kyoto Protocol, complaining it
would hurt its economy and
that such emerging economies
as China and India should have
taken on emissions obligations.

Since then China has
replaced the US. as the world's
biggest emitter, but it has resist-
ed calls that it assume legally
binding commitments — not to
lower its emissions, but to
restrain their growth.

Here at Cancun such issues
came to a head, as Japan and
Russia fought pressure to
acknowledge in a final decision
that they will commit to a sec-
ond period of emissions reduc-
tions under Kyoto, whose cur-
rent targets expire in 2012.

The Japanese complained
that with the rise of China,
India, Brazil and others, the 37
Kyoto industrial nations now
account for only 27 percent of
global greenhouse emissions.
They want a new, legally bind-
ing pact obligating the U'S.,
China and other major emit-
ters.

The upcoming takeover of
the U.S. House of Representa-
tives by the Republicans, many
of whom dismiss strong scien-
tific evidence of human-caused
warming, rules out any carbon-
capping legislation for at least
two years, however.

While the decades-long talks
stumble along, climate change
moves ahead.

The atmosphere's concen-
tration of carbon dioxide now
stands at about 390 parts per
million, up from 280 ppm
before the industrial age. Sci-
entists project average global
temperatures, which rose 0.7
degrees C (1.3 degrees Fahren-
heit) in the 20th century, will
jump by as much as 6.4 degrees
C (11.5 degrees F) by 2100 if
too little is done.

The U.N. Environment Pro-
gram estimates the voluntary
Copenhagen pledges, even if
fulfilled, would go only 60 per-
cent of the way toward keep-
ing the temperature rise below
a dangerous 2 degrees C (3.6
degrees F) above preindustrial
levels.







SO CUT CTR Ta BAA EET ETC Ce Eg
Prince Charles Drive 324-5476 e Cable Beach e 327-8862



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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 19



INTERNATIONAL NEWS



NEW YORK

HE WAS never charged in
the case that sent his father to
prison after thousands were
swindled of their life savings, but
for two years, the eldest son of
disgraced financier Bernard
Madoff still bore the toxic bur-
den of a name that meant fraud
to the world, according to Asso-
ciated Press.

On Saturday, the second
anniversary of the day his father
was arrested in the worst invest-
ment fraud in American history,
Mark Madoff, 46, was found
dead in the living room of his
SoHo loft apartment in Man-
hattan. He was hanging from a
black dog leash while his 2-year-
old son slept nearby.

People close to him said he
was despondent over press cov-
erage of his father's case, an
ongoing criminal investigation
of Madoff family members in
the multibillion-dollar scheme
and his struggle to rebuild his
life. The intense scrutiny
approaching the anniversary
"became too much for him," said
a person who had recent con-
tact with him, speaking on con-
dition of anonymity because of
the sensitivity of the case.

Mark Madoff's wife,
Stephanie, sent her stepfather to
the couple's $6 million (euro4.5
million) apartment after he e-
mailed her at Disney World in
Florida, where she was vaca-
tioning with their 4-year-old
daughter. In the messages, he
told her he loved her and that
someone should check on their
2-year-old child, Nicholas, police
said. He left no suicide note.

The person who had recent
contact with Madoff said he was
struggling to find steady employ-
ment and was upset by cover-
age of his father's case, including
a slew of stories in the past week
about investor lawsuits.

"Mark Madoff took his own
life today. This is a terrible and
unnecessary tragedy,” his attor-
ney, Martin Flumenbaum, said
in a written statement. "Mark
was an innocent victim of his
father's monstrous crime who
succumbed to two years of unre-
lenting pressure from false accu-
sations and innuendo.”

Mark Madoff and his brother
Andrew, who notified authori-
ties their father had confessed
to them the day before he was

LA ” ar
7

Madoft's eldest son hangs himself in NYC apartment



MARK MADOFF is shown.

AP Photo/Security
Traders Association of
New York, Kimberly Unger

arrested on Dec. 11, 2008, have
said they were unaware of his
crimes. But they have remained
under investigation and been
named in the multiple civil law-
suits accusing them of profiting
from the scheme.

Another law enforcement
official said Saturday that Mad-
off's arrest was not imminent,
and that investigators pursuing
possible charges against him, his
brother and uncle hadn't con-
tacted him for more than a year.
The official wasn't authorized to
speak publicly about the case
and spoke on condition of
anonymity. A lawyer for Mark's
mother, Ruth Madoff, said,
"She's heartbroken.” The
lawyer, Peter Chavkin, had no
further comment.

Bernard Madoff, 72, swindled
a long list of investors out of bil-
lions of dollars. He admitted that
he ran his scheme for at least
two decades, cheating thousands
of individuals, charities, celebri-
ties and institutional investors.
Losses are estimated at around
$20 billion (eurol15 billion), mak-
ing it the biggest investment
fraud in US. history. He is serv-
ing a 150-year prison term in
North Carolina.

The scandal has resulted in a
half dozen arrests of Madoff
associates and put a harsh light
on members of the family, which
has splintered since Madoff's
arrest. Both brothers hadn't spo-
ken to their parents since they
turned their father in.





































































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GOVERNMENT:
‘MORAL SUASION’
ON PORT TELCOS
LICENCE IMPASSE

By NEIL HARTNELL
Tribune Business
Editor

GRAND BAHAMA
PORT AUTHORITY
(GBPA) officials have
feared for almost a decade
that assigning its rights to
licence/regulate telecom-
munications entities in the
Port area to government
regulatory agencies would
“require us to breach the
Hawksbill Creek Agree-
ment”, with the Ingraham
administration having reit-
erated last year its intent
to use “moral suasion” to
achieve this outcome.

Documents filed with the
Supreme Court in relation
to the dispute between
Cable Bahamas and the
Utilities Regulation &
Competition Authority
(URCA) over the latter’s
efforts to collect Internet
licence fees from the for-
mer based on its Freeport-
derived revenues disclose
the more than decade-long
struggle to reconcile the
Government’s national
telecommunications/com-
munications regulatory
regime with the GBPA’s
rights under the Hawksbill
Creek Agreement.

The Government’s cur-
rent position is set out in
two letters sent late last
year to the GBPA and its
legal advisors by David
Davis, permanent secretary
in the Prime Minister’s
Office, in which he states:
“The Government’s posi-
tion is that there should be
a single regulator for the
electronic communications
sector of the Bahamas.”

Adding that the
Bahamas Telecommunica-
tions Company (BTC)
post-privatisation was
expected to continue oper-
ating in Freeport under the
current licensing regime,
Mr Davis added: “Having

SEE page 4B

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

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THE TRIBUNE

usiness

MONDAY,

DECEMBER :

2010

=f

BREITLING



Cable battling URCA on Freeport internet fees

By NEIL HARTNELL
Tribune Business Editor

CABLE BAHAMAS’ two-year
running battle with regulators over
whether it should pay $78,747 worth of
Internet licensing fees generated by
its Freeport business finally goes to
trial in the Supreme Court early in
the New Year, the issue highlighting
the Grand Bahama Port Authority’s
(GBPA) regulatory regime and fears
that this - plus the Hawksbill Creek
Agreement - could be breached by
the national communications super-
visory infrastructure.

Tribune Business can now expose
the full extent of the dispute between
Cable Bahamas and its affiliate, Cable
Freeport, and the Utilities Regulation
& Competition Authority (URCA),
with documents filed in the Supreme

* Supreme Court to hear Judicial Review matter over alleged
$78k in outstanding fees in January 2011, with BISX-listed firm
alleging regulator acting ‘ultra vires’

* Matter goes to heart of conflict between Grand Bahama Port

Authority regulatory powers and those of government and
national regulators

* Claim URCA demands would ‘contravene’ Hawksbill Creek
Agreement and undermine Port’s alleged right to licence
telecoms operators in Freeport

* Cable says URCA/PUC demands would subject it to double
taxation and have ‘dire economic consequences for the Port area’

Court revealing just how concerned
GBPA officials have been since 1999

Freeport and “require us to breach
the Hawksbill Creek Agreement” (see

that attempts to create a Bahamas-
wide telecoms/communications regu-
latory regime could erode both its
rights to licence this industry in

other story on Page 1B).

The huge bundle of documents
obtained by Tribune Business show
that Cable Bahamas initially filed its

‘Too early to say’ Baal)

tax policy failed

* Minister reacts
after tax revenues
fall 1.4% in 2010-
2011 first quarter



FOCUS ON
aes
ceva

2009

application for Judicial Review of the
then-Public Utilities Commission’s
(PUC) decision to order it to pay all
alleged “outstanding licence fees
together with the interest accrued
thereon on revenue earned..... from
the provision of public Internet ser-
vices within the Port area on Grand
Bahama” on January 14, 2009.

The matter is finally set to go to tri-
al between January 24-28, 2011, in
Freeport before Supreme Court Jus-
tice Hartman Longley, Cable
Bahamas and its Freeport affiliate
having already obtained an almost
two-year injunction to prevent the
PUC and its successor, URCA, from
“imposing sanctions upon [Cable
Bahamas] and from otherwise sus-
pending or revoking the applicant’s

SEE page 5B

COMMUNICATIONS SECTOR
REVENUES UP 3% TO $460M

* Industry bucks 4.3% economic contraction, with
127 out of 149 new licence applications granted in

* New international connectivity provider licensed
* URCA budget for 2011 expands by over 9% to more

despite Budget tax
rises

* Fiscal deficit
expands 11% to
$111.5, while
national debt hits

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

MOMENTUM = to
form a national coalition
of services industries in

than $5m

By NEIL HARTNELL
Tribune Business Editor

THE Bahamian electronic
communications industry bucked
the 4.3 per cent economic con-
traction in 2009 by producing a3
per cent total revenue increase,

from $445 million to $460 mil-
lion, with the sector regulator
granting 127 out of 149 licence
applications received that year.

Unveiling its three-year strat-
egy and annual plan for 2011,

$4.14bn record

By NEIL HARTNELL
Tribune Business Editor

A LEADING government
minister believes it is “too ear-
ly to say” that the Ingraham
administration’s 2010-2011
Budget tax increases have
failed to produce the desired
effect, even though tax rev-
enues for the first quarter of
the fiscal year dropped by 1.4
per cent to $241.3 million, in
comparison to 2009-2010 fig-
ures.

Zhivargo Laing, minister of
state for finance, comment-
ing on the release of data by
the Central Bank of the
Bahamas, told Tribune Busi-



MINISTER OF STATE FOR
FINANCE: Zhivargo Laing

the Government’s fiscal
deficit for the 2010-2011 first
quarter, which represents the
three months to September
30, 2010, widened year-over-
year by $10.8 million or 10.7
per cent to $111.5 million,
while the national debt hit a
new record of $4.139 billion.

Asked whether the 2010-
2011 first quarter figures
showed the Government’s tax

the Bahamas is reviving,
with the expectation that
such a body will play a
key role in enhancing
Bahamian suppliers’ abil-
ity to compete abroad
and lobby on issues such
as foreign trade deals
that affect them.
Winston Rolle, execu-
tive director and former
president of the Bahamas
Chamber of Commerce,
said the move to form
the coalition - which he
had previously pushed
for during his term as
Chamber president - was
inspired in large part by
recognition of a need for
greater unity among ser-
vice industries in the





ness that revenues for the first
quarter of the 2010-2011 fiscal
year could not be taken as a
true reflection of whether the
Government’s Budget tax
increases had worked or not.

Arguing that a more
detailed analysis or break-
down of the Government’s
revenues was required before
any conclusions were drawn,
Mr Laing told Tribune Busi-
ness that Excise Taxes - an
area of the Budget that had
seen significant tax increases,
especially with the changes to
auto industry and liquor duty
structures and rates - had
increased slightly year-over-
year to date.

His comments came as the
Central Bank revealed that

457-2282

SEE page 7B

SEE page 5B



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SEE page 8B

ENGINEERS IN MOVE
ON EPA RECOGNITION

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

BAHAMIAN engineers will travel to Jamaica, then to Europe, in
a bid to achieve the recognition necessary to enable them to take their
skills abroad under the terms of the Economic Partnership Agree-
ment (EPA) governing trade with the European Community.

Quintin Knowles, Bahamas Society of Engineers Board, will fly to
Jamaica on December 14 to take part in the "validation meeting" with
other Caribbean engineers, a prelude to a further trip to Europe,
where Bahamian engineers and their Caribbean counterparts are
expected to meet with several European engineering bodies, includ-
ing the European Network for the Accreditation of European Engi-
neers and the European Federation of National Engineering Asso-
ciations, to discuss the terms of a Mutual Recognition Agreement

SEE page 8B

BREITLING

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PAGE 2B, MONDAY, DECEMBER 13, 2010 THE TRIBUNE

EQUITY MARKET - TRADING STATISTICS

Week ending 10.12.10
BISX YTD PRICE
By ROYALFIDELITY EQUITY MARKET see its stock price close SYMBOL CLOSING PRICE WKLY PRICE VOLUME CHANGE
CAPITAL MARKETS A total of 20,900 shares unchanged at $6.85.
TT changed hands, represent- AML... eee Nes 00) opveerevecererecerrrprer © eek iee testers Oe eeeeeetetseaes teresa -13.68%
IT WAS another slow 108 a decrease of 36,400 BOND MARKET — Dace GG eentecectserasetseny: Ab aa seanteneasareoortomsemoesios Orecoescpeaseenessensoeeenzetate -71.43%
week of trading in the Shares a eae the Dre- bao traded during BOB. cnn $A. seececsssscsesseeeees $e ccccssssesenssestenseente Oceessssssessesesetsnteee 16.95%
Bela in etacke waarket vious week's trading volume last week. 5
a of 57,300 shares. BPE. cece $ 10.63 weeeeseceeeeeeereeees De ceeeeeeeeseseseeceeteseeeeeeenee Os ccsseeuceeasesssnesssessenen panes -1.02%
Investors traded in two Commonwealth Bank | COMPANY NEWS BSL veescsssesssneee $ SOL secsscssssssssnsenee Ge ccecessssntsssseteetete O ceecssensestnsestntestee 50.20%
out of the 24 listed securi- (CBL) was the volume Earnings Releases: There — $ 2.70 § 5 ro
ties, with all remaining leader in the week, trading a were no earnings reports sesccscccccesccscccceD Lal ccsccccsccscccccescesccces PETES ESET ITIL TTT S STIS TT TTT TST IS TS CLT TTSSTTSTTITSTTTCS TTT TTT TT TS TT) = . 0
unchanged. volume of 20,700 shares to _ released last week. CAB. eects $ 10.46 oes De vessstssestisacdesstnecsssecsiene 200 oeeeeseceeecseseeseseesseees 4.81%
CBL wees $ O85 ceeececseeeeteeteees ec scapaeateeessseissceageaaanets 20,700 ...eeeeeeeceeseeeeees -2.14%
CHL wees $240 Le eececeseeeeeeteee De ceeeeeeeeseseseeeeeeeeteeeeenee Oeeeeeeseeseteeeceeeseetetees -11.76%
. CIBoi ce eeeeeeeeeeeees BBD ee eceeseesesecseeeees Sh cicasasacetstnrsssissnastsaeazass Oe esce sce cs ecsateeseasstazcaeas -2.50%
Join the Leading Environmental Conservation CWCB eccssessesee $ VSO ceccscssssesssnseee $-0.03 vessssssssssesseeie O seesscstsstetsstetnsnetce 36.84
Organization in The Bahamas 1D): $1.60 vesscssssssssssseeee $e ceccsssstsessssstsnseesie Oveesssssststseseestnsnee 37.25%
; FAM eens $6.07 ceeeeeceeeeeseteteeeeees De ceeceeeeeseseseeeeeeeeeeeeeeenes Oeeccesesescteeeeceseceseseeteeees -6.47%
JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND) ppp. $ DAT cecsssnssssnssnsene Depend O vesstssssststnssntneete 8.44%
PROGRAMME DIRECTOR FOL sssscssecssseee ee ee O veecssssssssesssseseeseseee 14.47%
LEON LEVY NATIVE PLANT PRESERVE -ELEUTHERA | FCLBWuu. $1.00 ccesssccssseecsssserne Go ccsssscssseeessssesseseene Ovvescsssessssensseensseeesen 0.00%
FIN. eeeeeeeeeeeeeeeee $7.23 eeeesseeseeteteeeees De ceeeceeeseseseeeeetsseeeeeenes Oeeeeeeeseescteseeeeeeseeteeees -22.09%
| Ce) Db pevevereverrevererereyt $ SSD ee eeceeeseeteteeeees Sb eeca cesses cssancnaeseye atm O soeeeasteecsensscsecasecstenscatens 0.00%
JST eee ceeceeeteeeeeeeeee $ QBQ eeeceeeseteeeeteees Mp cscasacaentstsziesananarssaeanens Oss soee ests eesataseeseattantanaes -0.30%
Position Summary: This position is located in Governor's Harbour, Eleuthera. PRE woeeeceeceeeeeee $ 10.00 cece Do wssssescestvvsveavesdssaeesssiees Oa sesctateeeeeneseeseaeteeszenseeers 0.00%
Candidate will be responsible for providing day to day management and
superviskin at Leon Levy Native Plant Preserve (LLNPP), Potential candidates
should have a love tor the Bahamian environment. A strong interest in the
Tatural history ane cultural history of The Bahamas & a pls, BOND MARKET - TRADING STATISTICS
: rien al BISX SYMBOL DESCRIPTION VOLUME PAR VALUE
Primary Kesponsibilities:
si : FBB13 oc eee FBB Series C Notes Due 2013........0.000. Oo epeeses eeeeeseset sss $1,000
General Preserve management duties
Develop all age schoo! curricalum!progmims inchading detated lesson FBB15 .....ee FBB Series D Notes Due 2015... Oooo cceesssesstscadesecssesczsstaccnsss $1,000
plans, teacher workshops, special summer programmes and on site .
sctlyicles: FBB17 «uu... FBB Series A Notes Due 2017... Os speseesesteveaadesseseessseaeeess $1,000
Outreach to lncal and natkinal educational institutions FBB22 oecsssssseeeeeee FBB Series B Notes Due 2022.cccccsssssssesee O veeseessesesssssssssssssssssssssseseeee $1,000
Manage on site programs including Docent programme, special evenis ,
and inter programmes.
Serve 05.0 COmTUnRY linison between Local Govenoment, Ministry of
Tourism, local businesses and other agencies,
INTERNATIONAL MARKETS
Qualification amd Experience:
. a a EOREX Ran INTERNATIONAL STOCK
MS of BS Degree in Enviroamental education, Biology or Botany with MARKET INDEXES
A Miminwum of 5 yORrs' CNperiknce CURRENCY WEEKLY % CHANGE
Demonstrated experience in Program development CAD 0.9909 -0.65
Teaching cenification a plus ru nae a INDEX WEEKLY % CHANGE
Proficiency in MS Office suite, . a
Sinong organizational and time managenvent skills DJIA 11,410.32 0.25
Exvellent oral and wrilten communication skills
COMMOVETIES S&P 500 1,240.40 1.28
To apply: Submit cover letter, resume and three references to the Bahama COMMODITY WEEKLY °% CHANGE
National Trust, Aton: Human Resources aacmyssig bot.bs by December 21", Crude Oil 90.55 ° 1.17 NASDAQ 2,637.54 1.78
2010.
mele Lares a Nikkei 10,212.00 0.33



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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 3B





Private sector is urged to get
involved with Canada trade talks

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE BAHAMIAN private
sector has been urged to seek
greater involvement and input
into negotiations over a new
free trade deal between the
Caribbean and Canada, one
trade specialist noting that par-
ticular attention should be paid
to how financial services is dealt
with in any new agreement.

Matthew Spence, an intellec-
tual property specialist with the
CARICOM Secretariat's Office
of Trade Negotiations (OTN)
and a member of the CARI-
COM college of negotiators for
the CARICOM-Canada Trade
and Development Agreement,
told attendees at a technical
workshop that he "can't stress
enough" how important it is for
the private sector in the
Bahamas to seek knowledge
about - and input into - the dis-
cussions on how trade in goods
and services between Canada
and the Bahamas will be
defined going forward.

His comment come after
Sacha Silva, an economic con-

sultant with the Office of Trade
Negotiations (OTN), told the
same workshop, which took
place at the Sheraton Nassau
Beach Resort, having been
organised in conjunction with
the Bahamas Chamber of Com-
merce, that the Bahamas would
be wise to "keep a close eye on"
negotiations between Canada
and the Caribbean, as well as
the WTO accession process.

Such deals will have "a much
more significant impact on
development" than the EPA
with Europe is likely to, con-
sidering the Bahamas’ relative-
ly small trading relationship
with Europe, contended Mr Sil-
va.

The Bahamas’ trade volume
with Canada is larger, and
Canada has traditionally taken
"harder negotiating stances" in
trade deals struck previously
than Europe has.

Addressing the workshop on
Friday, Mr Spence said: "I think
the experience you’ve had with
the EPA should urge you to get
involved in discussions with
Canada.

“T can’t stress enough how
much the private sector should

get involved in the process. Get
in touch with the Chamber (of
commerce)."

Meanwhile, Allyson Francis,
an investment and services
trade specialist with the OTN,
said that given the sector's
importance to the Bahamas’
economic output, the Govern-
ment and private sector should
be particularly proactive with
regard to the terms of the deal
relating to financial services.

"IT hope you are involved in
the discussion of the financial
services text in the Canada
agreement because the
approach Canada wants is quite
different on financial services
(as opposed to Europe).

“You need to play as active a
role as possible in the negotiat-
ing process, so it is as close as
possible to what you want to
see from a national perspec-
tive," said Ms Francis.

Speaking wtih Tribune Busi-
ness after the workshop, Mrs
Francis said: “In the EPA we
were just looking at regulating
what we had scheduled in the
agreement. With Caricom-
Canada we are looking at regu-
lations of not just what is sched-

uled but how you regulate
financial services within your
state.

"(Canada has) also proposed
a separate chapter to deal with
financial services, unlike what
we have in the EPA. That may
not be of major concern, but I
think we need to appreciate the
content in terms of the depth
of the Canadian requirement
and proposal. It’s more than we
have done with the EPA, and
with some member states its
more than they have done in
other agreements with Cana-
da.”

CARICOM and Canada
opened discussions in 2007 on a
new trade agreement to replace
the non-reciprocal arrangement
that has previously governed
trade in goods between the two
areas.

The Caribbean has up until
now been allowed to export cer-
tain goods to Canada duty free,
while Canada did not have the
same benefit.

According to figures released
in 2009 by the Government of
Canada, Canada’s bilateral mer-
chandise trade with the
Bahamas increased by 90.7 per

Will good news convince Main Street to buy stocks?



NEW YORK

THE fear that kept small investors from
participating in one of the greatest bull mar-
kets in history may be losing its grip, accord-
ing to Associated Press.

The White House reached a tentative deal
with Republican leaders last week to cut tax-
es. Economists are raising their estimates for
economic growth, and jobless claims have
fallen 15 percent from a year ago. The month-
ly trade report released Friday showed surg-
ing demand for American products, and the
University of Michigan's December con-
sumer sentiment index reached its highest
point since June. There's even good news
about two symbols of Wall Street reckless-
ness. The government sold its last stock in Cit-
igroup Inc. on Tuesday and could do the
same soon with its stake in American Inter-
national Group Inc.

The Standard & Poor's 500 index closed at
1,240 Friday, surpassing the level from before
the financial meltdown in September 2008.
And a survey by the American Association of
Individual Investors showed the number of

HANG SENG BANK (BAHAMAS) LIMITED

We seek high-calibre individuals to help us expand our business
in a dynamic market. This is an opportunity to join a winning

people bullish about stocks outnumbering
those bearish by the widest margin in more
than three years.

"There was this widespread expectation
six months ago that we were going to have a
double dip recession," says Steven Bleiberg,
manager of the Legg Mason Lifestyle funds.
"That whole mindset has petered out."

Arnold Espe, the bullish manager of
USAA's Cornerstone Strategy Fund, pre-
dicts investors next year will put more mon-
ey into U.S. stock mutual funds than they
take out for the first time since 2006. Says
Espe: "We're setting up for a pretty good
market."

Trying to guess what individual investors
will do next is difficult, and the optimists
could be dead wrong. There are plenty of
reasons investors might balk at buying U'S.
stocks, not least an unemployment rate of
9.8 percent. But if Espe is right, the market
could rise smartly. Optimism about stocks
can feed on itself. If small investors put back
into the market even a fraction of the tens of
billions that they took out in the past year, it
could set off a virtuous cycle of buying.

One sign that stocks may soon attract mon-
ey: Though investors pulled $500 million
more from U’S. stock mutual funds than they
put in last month, the pace of withdrawals is
slowing, according to fund tracker Strategic
Insight. As recently as September, investors
took out a net $15 billion.

Small investors could turn to stocks soon
because the alternative — bonds — don't
look so safe anymore. For most of the year,
small investors have used the billions they've
withdrawn from stocks to buy bonds. The
thinking was that bonds were safer because
the principal is guaranteed. It's been a good
move. Though the S&P has risen 11 percent
since the beginning of the year, some bonds
have done better. So-called junk bonds from
highly indebted U.S. companies have gained
16 percent and bonds from emerging markets,
14 percent, according to Barclays Capital.

But now doubts about bonds are creeping
in. Fear is rising that an improving economy
will stoke inflation that could eat into bond
returns. Inflation sends bond prices down
sharply because the principal won't buy as
much when returned if prices rise.

team that contributes to the Bank's success and offers good

career potential.

Compliance Officer

Job Duties:

¢ Monitor the Bank’s daily operation to ensure compliance
with relevant regulatory requirements and AML policies
Implement regulatory and Group requirements on compliance
monitoring and AML

cent in 2008 to reach $303.9 mil-
lion. Merchandise exports to the
Bahamas totalled $230.8 mil-
lion in 2008, and included min-
eral fuels and oils, machinery,
preserved food, electrical and
electronic equipment, and phar-
maceutical products.
Merchandise imports from
the Bahamas reached $73.1

million in 2008 and included
organic chemicals, mineral fuel
and oils, fish and seafood, salt,
sulphur, stones and fruits and
nuts.

Through the Royal Bank of
Canada, the Bank of Nova Sco-
tia and others, Canada's trade in
financial services with the
Bahamas is also significant.

ALL

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An ETIENNE DUPUCH JF pu SATIN

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Etienne Dupuch Jr Publications, pO Box N-7513,

Nassau, The Bahamas *



(242) 323-5665

Available at Bookstores & Newsstands

le! Bank of The Bahamas

EMPLOYMENT
OPPORTUNITY

Prepare report and statutory returns for submission to Group
Compliance and external regulators
Act as the regulatory and legal liaison for and between the

Bank’s operations in The Bahamas and Hong Kong parent

company

Requirements:

¢ A University Degree in Business Administration, Law or

other relevant qualifications

Minimum of six year’s experience in financial institutions,
preferably in managerial or supervisory role.
Proven working experience in compliance monitoring and
AML, with good knowledge on regulations and related
statutory requirements

Strong self motivation, with good communication and

interpersonal skills

Please send us a full resume, including personal particulars,
employment history, present and expected salary and contact

phone number to

Country Manager
P.O. Box N-3019
Nassau, The Bahamas

Application Deadline: 31 December 2010

Applicants who are not contacted within one month may consider

their applications unsuccessful.

All information provided by applicants will be used strictly in
accordance with the employer's personal data policies. Applicants
may be considered for other suitable positions within the Bank
and its related companies over a one-year period, after which

their personal data will be destroyed.

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

CSR-I (Tellers) Andros and Inagua Branches

Key responsibilities:

e Services the customer by processing cash and non-cash transactions

including: receiving cash, making deposits, foreign currency exchange and

posting payments to loan accounts.

Sells bank products and services to customers.

Balances cash by recording all cash on blotter, tally holdings for each day,

and uncover errors.

Balances cash to the general ledger.

Processes deposits from night bags, quick deposits, and ATM by counting

cash and verifying that the information is correct on the paperwork, and

posting the entries.

Files all paid cheques by sorting, distributing to the relevant persons and

verifying signatures.

Minimum Requirements:

¢ Associates Degree or ABIFS Certificate

¢ Strong analytical skills to audit work performance, troubleshoot

exceptions, and resolve customer problems

Knowledge of regulatory requirements particularly as it relates to

Anti Money Laundering and Know Your Customer
Proficient in Microsoft Office
Ability to work independently

Excellent organization and writing skills

Benefits include: Competitive salary commensurate with experience and

Email:

qualifications and a suite of other benefits including a group medical plan.

Interested persons should apply no later than December 17, 2010 to:

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

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





PAGE 4B, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



IT = 1.) | =<>.—
Government: ‘Moral

suasion’ on Port
telcos licence impasse

As a_ privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer
in the Bahamas, we are seeking candidates for
the position of Field Service Technicians,
and candidate for the position of Electrical
Technician. The individuals must be able to
support Caterpillar Tractors;

Proficient in diagnostic testing Caterpillar 3000,
3100, 3200, 3400, 3500, and 3600 engines.

Proficient in Applied Failure Analysis; Proficiency
in perform load sharing and synchronized in

Generator set; Proficiency in Caterpillar Marine

Engine diagnostics; Proficiency in Caterpillar fuel
injection systems and fuel injection bench test.

Applicants must also have proven experience
in diagnosing, troubleshooting, repairing of
Hydraulics, Engines and Vehicular Electricity.
Computer skills are also required for this position.
Applicants with formal education in mechanics are
preferred.

Send complete resume with education and work
experience to M & E Limited, P- O. Box N-3238,
Nassau Bahamas, Attention: Human Resources

Department, or email: me@me-ltd.com.

Only persons being interviewed for this
position will be contacted.



Colon
Comf

FROM page one

regard for the provisions of
the Hawksbill Creek Agree-
ment, the Government is
minded, using moral suasion,
to seek the cooperation of
your [Port Authority] Board
in agreeing that the URCA
regime might be extended to
Freeport. In this regard, I
herewith formally seek the
concurrence of your Board.”

Such efforts have been
ongoing for more than a
decade, the Government and
GBPA having been locked in
negotiations over the latter
assigning its rights to regu-
late electronic communica-
tions in the Port Area to a
Nassau-based regulator (first
the Public Utilities Commis-
sion, then URCA) since the
Telecommunications Act
came into being in 1999.

The concerns have been
long-standing. A draft Feb-
ruary 14, 2001, letter from Sir
Albert Miller to then-finance
minister, Sir William Allen,
on this issue, warned: “The
proposed draft agreement
first sent to us by the Office
of the Prime Minister places
GBPA in a somewhat unten-
able position.

“To agree to the assign-
ment of our rights, as pro-
posed therein, would require
us to breach the Hawksbill
Creek Agreement.”

Various drafts have been
kicked back and forth, the
most recent, according to an
August 31, 2009, legal opin-
ion prepared by Graham,
Thompson & Co’s Robert
Adams for GBPA president
Ian Rolle, having been a draft
Deed of Assignment sent on
June 18, 2009, by T. B. Don-
aldson, chair of the Govern-
ment-appointed privatisation
committee.

According to Mr Adams,
this draft involved the GBPA
assigning all its rights to
licence and regulate the pro-

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vision of electronic commu-
nications services within the
Port area to URCA for $1.

“GBPA’s rights under the
existing business licences that
have been issued to electron-
ic communications services
providers in the Port area will
be included in the assign-
ment,” Mr Adams wrote.

“For example, all of
GBPA’s rights, including the
right to collect the licence
fees, under its licence agree-
ment with BTC and Cable
Bahamas will also be assigned
to URCA.”

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

“Accordingly, if GBPA is
prepared to give up its rights
to regulate the electronic
communications sector in the
Port area and negotiate
mutually acceptable com-
mercial benefits and terms for
an assignment of such rights
to URCA, it is our recom-

mendation that GBPA
engage in a well-planned,
structured and transparent
process of public consultation
with its existing stakeholders
and licencees prior to enter-
ing into such an assignment
despite the fact that there is
no strict legal obligation on
GBPA to do so.”

A November 5, 2010, affi-
davit by Tyrone Fitzgerald,
the GBPA’s in-house legal
counsel, said of the negotia-
tions between the Govern-
ment and GBPA: “An agree-
ment was never reached with
respect to GBPA’s assign-
ment of such telephonic
telecommunications licensing
rights within the Port area.
Thus GBPA still retains those
rights and exercises the
same.”

Acknowledging the poten-
tial widespread consequences
that the Cable
Bahamas/URCA matter
might have, former GBPA
chairman Hannes Babak, in
an affidavit filed in support
of the Port intervening in the
case, alleged: “This matter
can have serious conse-
quences to GBPA’s ability to
grant licences within the Port
area in respect to the provi-
sion of telephony services and
to collect revenue on the
same.”

NOTICE

WEST WINDS PROPERTY OWNERS
ASSOCIATION LIMITED

Notice is hereby given that the annual gener-
al meeting for the West Winds Property OQwn-

ers Association Limited will be held Thursday
the 16th day of December, A.D., 2010 at 6:30
p.m. At the Pavilion, West Winds Subdivision,

New Providence.

BOARD OF DIRECTORS
WEST WINDS PROPERTY OWNERS
ASSOCIATION LIMITED



COMMONWEALTH OF THE BAHAMAS 00RICLENqui'|439

IN THE SUPREME COURT

Common Law & Equity Side

IN THE MATTER of the Quicting Titles Act

ANTE

IM THE MATTER of the Petition of ELGIN WRIGHT

AND

IN THE MATTER of ALL THAT piece parcel or lot
of land being numbers 27 & 28 containing 0.250 on
An acre situate on Miami Street in the Englerston
Subdivision situate in the Southem District of the
sland of New Providence, Baharnas

COPIES of the said Plan may be inspected during
Normal Office hours at the following places:-

(c) The Registry of the Supreme Court
In the Crty of Nassau on the [sland of

Hew Providence

(id) Collie & Collie Law Chanvbers
K.. 5. Darling Building
Dowderwell Street & School Lane
in the City of Nassau on the Island of New
Providence, The Bahamas

NOTICE is hereby given that any person having
Dower or a right ta Dower or any Adverse Claim
ora Claim not recognized in the Petition shall on

or before the 2nd

day of February, 2011

2010 file in the Supreme Court in the City of Nassau
aforesaid and serve on the Petitvoner a Statement of
claim in the Prescribed form verified by an Affidavit
to be filed therewith. Failure of any swch person to file
and serve a Statement of Claim on or before the 2nd

day of February, 2011
claim,

Elgin Wright

Petitioner

will operate as a bar to such

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



THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 5B



FROM page one

licence” for non-payment of
the licence fees due.

Judith Smith, Cable
Bahamas’ in-house legal
counsel, had alleged in an affi-
davit that the then-PUC had
warned the BISX-listed com-
pany as far back as Decem-
ber 23, 2008, that it could
impose sanctions against it
over the issue. “Such sanc-
tions may include revocation
of [Cable Bahamas] licence,”
she alleged. “The imposition
of sanctions by the PUC is
likely to cause irreparable
damage to the applicant’s
business.”

Justice Longley will have
to rule on Cable Bahamas’
demands for a Supreme Court
declaration that URCA’s
attempts to include Freeport-
derived revenue in the Inter-
net licensing fees due from
the company fall “entirely
outside the limits of the pow-
er” conferred on it under the
Communications Act.

And the BISX-listed com-
munications provider is also
seeking a declaration that the
PUC (now URCA’s) decision
to calculate its Internet fees
based on the revenues gener-
ated by Cable Freeport was
“irrational and for improper
purposes”.

Describing Cable Freeport
as its wholly-owned sub-
sidiary, Cable Bahamas is
alleging that on October 19,
1995, it was issued with a
licence to provide informa-
tion and entertainment ser-
vices by the GBPA in the
Port area, paying licence fees
to the latter.

Cable Bahamas’ licence
was modified on December
21, 2001, to allow it to become
an Internet Service Provider
(ISP), but it was only on May
9, 2007, when the then-PUC
first requested that the com-
pany pay licence fees, earned
from the provision of Inter-
net services in Freeport,
which it alleged were in
arrears.

Cable Bahamas, in an
October 28, 2008, letter to the
PUC, objected to the demand
for payment, pointing to the
alleged “lack of jurisdiction
of the PUC to calculate and
determine licence fees
payable based on the revenue
earned from providing pub-
lic Internet services within the
Port area”.

Alleging that the Telecom-
munications Act 1999 (now
succeeded by the Communi-
cations Act) did not repeal
the Hawksbill Creek Agree-
ment provisions that provide
the GBPA “special regulato-
ry functions and powers” to
licence Freeport-based enti-
ties to provide telecommuni-
cations services, Cable
Bahamas is arguing that the
Act “ought to be construed
as being generally applicable

Cable/URCA

to the regulation of telecom-
munication services through-
out the Bahamas except for
the Port area...

“Consequently, it also fol-
lows that none of the powers
vested in the PUC [URCA]
by virtue of the Act may be
lawfully performed by the
PUC in relation to the Port
area on Grand Bahama, the
Port Authority and its
licencees,” the BISX-listed
provider alleged.

“This extends to, and
includes, the power conferred
by Section 10 of the Act,
which authorises the PUC to
set license fees in amounts
required to defray costs con-
nected with its functions and
powers in relation to telecom-
munications. Therefore, by
calculating the license fees
payable on revenue earned
by Cable Freeport from the
provision of public Internet
services within the Port area,
the PUC was acting outside
of the limits of the powers
conferred upon them under
the Act.

Cable Bahamas is also
alleging that while it is
licensed by URCA, it is its
Cable Freeport affiliate - a
separate legal entity - that
earns all its Freeport rev-
enues, and that is licensed by
the GBPA, not the Nassau-
based regulator.

The dispute goes right to
the heart of the ‘special status’
that Freeport and the GBPA
have, and the latter’s ability to
regulate and licence corpo-
rate entities in the 230 square
mile area, and the extent to

which they conflict with the
central government in Nassau
and its regulatory agencies.

Cable Bahamas’ position
was further made clear in an
October 28, 2008, letter to the
PUC, in which its president
and chief executive, Antho-
ny Butler, said simply: “The
PUC is acting ultra vires in
that it has no jurisdiction to
regulate telecommunications
and, in particular, Internet in
the Port area and demand
licence fees for the same.”

Pointing out that Cable
Bahamas did not conduct
business in the Port area, Mr
Butler added that Cable
Freeport would be “discrimi-
nated” against if its was
required to pay both URCA
and GBPA licence fees, thus
subjecting it to “double taxa-
tion”. Other telecommunica-
tions operators not based in
Freeport would not be sub-
jected to such “onerous oblig-
ations”.

Referring to the PUC’s
demands, Mr Butler said that
if enforced, they would
“exceed the Commission’s
statutory authority, and con-
travene the provisions of the
Hawksbill Creek Agreement.

“The proposed action, if
implemented, will ‘fly in the
face’ of the Grand Bahama
Port Authority and will have
dire economic consequences
for the Port area.”

URCA is being represent-
ed by Ferron Bethel and
Camille Cleare and Harry B.
Sands Lobosky; Cable
Freeport by Fred Smith QC
of Callender’s & Co; and
Cable Bahamas by Robert
Adams of Graham Thomp-
son & Co.





PUBLIC NOTICE



























Stephan Francis is no longer employed by The



Landing Hotel and restaurant on Harbour




Island, and is not authorized to conduct



business in the name of, or on behalf of



The Landing Hotel and Restaurant.




RENEWED FOCUS ON SERVICES COALITION

FROM page one

Bahamas when addressing the challenges
and opportunities arising under the Eco-
nomic Partnership Agreement (EPA) trade
deal between CARICOM and Europe.

“With the discussions with the European
Union on this agreement (the EPA), espe-
cially as it relates to services, what needs to
happen is - while each industry has its
unique needs - there needs to be a con-
certed effort to ensure that the discussions
happen on a nationalistic perspective and
not on an individual industry perspective,”
said Mr Rolle, who spoke to Tribune Busi-
ness during a technical workshop on the
EPA organised by the Chamber in con-
junction with the Caribbean Export Devel-
opment Agency (CEDA) and the Cari-
com Secretariat’s EPA Implementation
Unit.

Mr Rolle has now begun contacting
industry associations and societies to gauge
the level of enthusiasm for the coalition. He

so far feels that there is more interest in
2010 than when he left the presidency of
the Chamber in 2005.

“I don’t think the business community
was ready for it back then. What you are
seeing now, though, is that business per-
sons, not only from a negotiating stand-
point as it relates to international agree-
ments, but also here from a position of
lobbying for certain things, are seeing the
benefit,” Mr Rolle said.

“So we have started that process. We
have put together some documents, and I
am identifying all the various service organ-
isations we need to reach out to and then
we'll move forward.” He added that it was
likely that a number of new professional
organisations representing services in the
Bahamas will need to be formed, with some
currently unrepresented.

Coalitions of Service Industries already
exist in Caribbean countries such as
Trinidad and Tobago, Barbados and St

SEE page 6B

FOR SALE

by owner

——

1 987 38 ft Bertram Soaciel Duty paid
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Fullyloaded,GPS,Depthtinder,Chartplotter,
autopitot,2xVHF radio etc
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Vessel must be seento be appreciated berthed at
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sso O) Se.

Callfor appointment for viewing
toh ee A)

DISCONNECTION
NOTICE

The



Bahamas Electricity

Corporation wishes to advise the

‘Legendary Past... Glorious Future!’

Now accepting applications for teachers for September, 2011
for the following areas:

EARLY LEARNING CENTRE (Ages 3-5
Classroom Teachers

public that it has commenced
electricity service disconnections
of ALL accounts with overdue
balances. This includes the
accounts of customers who have
payment arrangements with BEC
but are not honoring their
commitments.

PRIMARY SCHOOL (Grades i —6

Classroom , Modem Languages, (French and Spansh]
Physical Education (including teaching

Swimming }

HIGH SCHOOL (Grades 7 = 12)

Science (Chemistry, Biology, Physics) History, Mathematics, Accounts, Physical
Education, Guidance Counsellor, Modem Languages, (French and Spanish) English
Language and Literature, Information Technology, Music, Religious Education. Ar,
History, (‘Sacial Studies) Library Science

The public is also advised that

payments can be made directly to
the Corporation’s payment centres
in New Providence and the Family
Islands or at any major banking
institution (either online or over the
counter).

CRITERIA FOR EMPLOY MEST
* A inamurn of a Bachelor's Degree trem ¢
Macy med canfirmied

ree S COLLEGE .

Please call

302-1623/4
or toll free at
242-300-0110

for any billing queries

5a competitive benefits package,
pratuity, peraion, ‘health
dren's tuition

The } h ethod echis
is & part.

Applioation fant are avaliable from the Human Reaseces Office at ihe school or may be downloaded from
our aeend sinning webabe sersgchensefothcam, The completed application, bagether with «a covenng
lamar, a shalernant of educational philosophy and a pecant photagraph must bea sant to:
The Principal

Queen's College

P.O, Bow Miz?

Nassau, Bahamas
Or fawed toc 242-393-5248, of emaied to dkyochiigchencelorthcom and should arive mo later fran
January 4, 2091. Candicates short-listed wil be contacted by tolaphone, fax or email for an intariaw.

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

View your electricity account online at
www.bahamaselectricity.com







PAGE 6B, MONDAY, DECEMBER 13, 2010




















ESSO (ROUND NINE) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (ROUND NINE) BRAZIL EXPLORATION
LIMITED

EXXONMOBIL ABU DHABI GAS VENTURES
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL ABU DHABI GAS VENTURES
LIMITED

ESSO (BM-S-TWENTY ONE) BRAZIL
EXPLORATION LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TWENTY ONE) BRAZIL
EXPLORATION LIMITED

ESSO (BM-S-TEN) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TEN) BRAZIL EXPLORATION
LIMITED

ESSO (BM-S-NINE) BRAZIL EXPLORATION
LIMITED

NOTICE
Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-NINE) BRAZIL EXPLORATION
LIMITED

THE TRIBUNE

a =. ~~
Renewed focus on

Services Coalition

FROM page 5B

Lucia, acting as alliances of
professional services associ-
ations and organisations,
and becoming focal points
for lobbying and addressing
trade in service issues and
services development.
Trinidad and Tobago’s
Coalition of Services Indus-
tries (TTCSD lists the fol-
lowing among its objectives:
Providing national service
providers with knowledge of
export opportunities; iden-
tifying and exploiting mar-
ket opportunities; promot-
ing the further development
and competitiveness of the
national services sector; sup-
porting and facilitating the
development of industry
standards; educating nation-
al service providers on rele-

vant aspects of trade agree-
ments that affect trade in
services; and representing
the interests of the national
services sector, including
lobbying government and
promoting rules for trade in
services.

Such a coalition in the
Bahamas would be able to
act as an intermediary
between organisations that
are secking to promote the
development of Bahamian
service suppliers, who may
be facing new opportunities
or commercial hazards

under the EPA and the lib-
eralisation of trade in goods
and services that it brings.
A number of entities, such
as CEDA, are administer-
ing programs to help build
the capacity of businesses in
the Caribbean to compete
in the region and in Europe,
but some service suppliers
in the Bahamas have com-
plained they are not getting
access to information that
might allow them to take
advantage of such issues.
Carlos Wharton, a senior
trade policy officer with

CEDA, advised during the
EPA workshop that if a
Bahamian coalition of ser-
vice industries is formed,
stakeholders would be wise
to ensure that any such
coalition has private as well
as public financial backing.

He noted a “very worry-
ing” drying up of financial
support for such coalitions
has taken place in other
countries, where they were
primarily funded by govern-
ments in the Caribbean,
threatening their existence.

EXXONMOBIL EXPLORATION AND PRODUCTION
(BARENTS SEA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(BARENTS SEA) LIMITED

ESSO (BM-S-TWENTY FOUR) BRAZIL
EXPLORATION LIMITED

NOTICE
Pursuant to the provisions of Section 137

(8) of the International Business Companies Act
2000, notice is hereby given that the above-named
Company has been dissolved and struck off the
Register pursuant to a Certificate of Dissolution
issued by The Registrar General on the 29" day of
November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TWENTY FOUR) BRAZIL
EXPLORATION LIMITED

EXXONMOBIL TRINIDAD LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL TRINIDAD LIMITED

EXXONMOBIL BRAZIL (ESPIRITO SANTO BASIN)
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL BRAZIL
(ESPIRITO SANTO BASIN) LIMITED

BRAZIL EXPLORATION (ROUND NINE) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
BRAZIL EXPLORATION (ROUND NINE) LIMITED

ESSO (BM-S-EIGHT) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-EIGHT) BRAZIL EXPLORATION
LIMITED

EXXONMOBIL EXPLORATION AND PRODUCTION
(KARA SEA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(KARA SEA) LIMITED

EXXONMOBIL EXPLORATION AND PRODUCTION
(WEST SIBERIA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(WEST SIBERIA) LIMITED

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



THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 7B



FROM page one

increases had failed to produce the desired
revenue bump, Mr Laing said: “I would say
that that would only be possible if someone
had undertaken a detailed analysis of how tax
revenues performed on all fronts.

“No one is in a position to say that. That
would not be a rationale argument. In the first
quarter of the fiscal year, revenue performance
is hardly a reflection of anything attributable to
a tax policy. It’s too early; too short a time,
especially in the economic circumstances in
which we find ourselves.”

Mr Laing said the global economic climate
had been impacting on other governments’
revenue collections as well as the Bahamas, but
added: “I know for a fact on the Excise Tax
side of things that revenue is performing ahead
of last year. It’s up slightly, $2-$4 million ahead
according to the last figures I saw.

“That is one area where tax increases were
levied.”

Mr Laing pointed out that other quarters
were traditionally stronger than the first for the
Government when it came to revenue gener-
ation, adding: “It doesn’t follow that the new
tax policy hasn’t been working.”

The Government, he added, had been con-
ducting fiscal analyses on a regular basis,
assessing where it was constantly in terms of

“Too early to say’
tax policy failed

revenue collection and identifying collection
and target gaps.

Analysing why the Government’s fiscal
deficit in the 2010-2011 first quarter had
widened, the Central Bank said higher debt
servicing payments and goods and services
spending increased total expenditure by $14.2
million or 3.8 per cent to $382.7 million,
although capital spending fell by 1.7 per cent to
$36.9 million. Net lending also dropped by
28.2 per cent to $8.1 million.

While total revenue receipts rose slightly
by $3.4 million or 1.3 per cent to $271.2 million,
due to what was described as a “timing-relat-
ed increase in non-tax collections by 29.1 per
cent to $29.9 million”.

Recurrent spending was up by 5.63 per cent
to $337.8 million, while import/Excise duty
collections fell 2.63 per cent year-over-year to
$136.4 million, compared to $140.1 million the
year before.

The Government is relying on the $210 mil-
lion Bahamas Telecommunications Company
(BTC) sale proceeds to reduce the fiscal deficit
this year and pay down debt.



The Eden Centre

Dr. Liu Zelin (Leo)

Has MOVED from Village Road to Winchester Street, Palmdale
New phone number are: 328-6817, 328-6819 cell: 454-0188

Miraculous Chinese Medical Doctor
heals patients ailments

A man suffered from severe pain in his right knee for a long
time. He found it difficulty to move around. His knee was
swollen and very stiff. He had this problem for 2 1/2 years.
After three treatment visits the swelling went down and he
was able to move around with no problem. I recommend this
treatment for persons who want results and do not want to
have surgery.

An elderly man 84 years old suffered from high blood pressure
and diabetes. After 3 visits his blood pressure went to normal
and his diabetes is now under control.

Special Treatment for
DIABETES, HYPERTENSION, SINUS, ARTHRITIS, CARPEL
TUNNEL SYNDROME, REPETITIVE STRESS INJURIES,
STIFF NECK

GN-1150

OFFICE OF THE PRIME MINISTER

COMMONWEALTH OF THE BAHAMAS

Island of Naw Providence

NOTICE OF POSSESSION

Given Under

THE ACQUISITION OF LAND ACT

Chapter 233

WHEREAS by Declaration of Intended Acquisition dated 4" day of

October A.D., 2010 and published in the Extraordinary Gazette dated 8" day

of October AD, 2010, the Minister responsible for Acquisition and

Disposition of Lands, the Promoter, declared that the said lands described in

the Schedules hereto was required for a public purpose, namely, public road

intersection improvements and for uses related thereto.

AND WHEREAS the Minister responsible for Acquisition and Disposition

of Lands, is of the opinion that possession of the said land should be obtained

before payment is made to the rightful claimants thereto.

NOW THEREFORE it is hereby declared that the said lands has been

appropriated by the Minister responsible for Acquisition and Disposition of

Lands for the purpose mentioned in the said Declaration of Intended

Acquisition with effect from the date hereof.

Dated this 6 Day of

December

AD., 2070
Signed:

Hubert 4, Ingraham
Minister Responsible for

The Acquisition and Disposition of Lands

Schedules (Annexed)

Tor rhe) a
ful OOF eff,

F
AOI EIT:

OLB

FENN EDF

WO SATY OF FAR Satawer ours
SSA FOAPeas OF SLAW WE

2Porey Paris

SCHEDULE

AT that certain Piece, Pare: OF lot of land corbals ing bY adimeasurement 16,036 squi

1a OT thereabouts being a ESOP of Ai JAE (eT kraect cH Lard Sang) bo be the Propet; mi

Kenneth Higgs situate approximately 34 feet north of Jolin F Drive and 283

feet weet of Farrington Road im the western district of the island of New Providence in

the Commonwealth of The Bahamas ABUTTING AND BOUNDING towards the

NORTH on other portions of land said to be the property of Kenneth Higes towards
the EAST on land the property of Kenneth Higes but about to be ar quired by the
(overmment of The Bahamas bovards the SOUTH on Land the property of Kenneth
Higgs but about to be acquired by the Goverment of The Bahamas towards the WEST
on Dolphin Drive or however else the same novay

abat and bound which said piece

paces OF bet ot land is shown coloured Fil 1k OL copie 4. ot the plan here attached

SCHEDULE
All that certain piece, parcel or lot of Lard containing by adoeasurement 22.064 Sayan:
feet or thereabouts being a portion ot a larger tract of land said te be the property of
Kenneth Higes situate approximately 40 feet north of John F. Kennedy Drive ariel 3) fees
northweshvardly of Farrington Eoad in the western district of the island of New
Providence in the Comanorwealth of The Bahamas ABLITTINNG AND BOUNDING
towards the NORTH partiy on other pertions of land said te be the property of
Kenneth Higes arul partly portions of lots 9,10, 11 and 12 of block of Cakes Airport
Subdivision towards the EAST on Kiki Street towards the SCYITH partly on other
partons of lots 9, 10, 11 and 12 and other portions of land said bo be the property of
Kenneth Higes but about to be acquired by the Government of The Bahamas towards
the WEST on land said to be the property of Kenneth H ige8 but about te be acquired by
the Government of The Bahamas or however else the same may abut and bound which
said piece, parcel or lot of lara is shown coloured pink on copies of the plan here

attached



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



PAGE 8B, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



FROM page one

the Utilities Regulatory & Com-
petition Authority (URCA) said
it estimated that total industry
revenues had grown by 3 per
cent based on estimates and
financial figures it had collected
from industry licencees.

Acknowledging that this
growth rate was slower than that
achieved by the Bahamian elec-
tronic communications industry
in the period 2003-2007, URCA
added: “It should be noted that
during 2009, the Bahamas’ real
gross domestic product (GDP)
contracted by 4.3 per cent, large-
ly due to the effect of the global
economic slowdown on tourism.

“The growth in the sector rev-
enue, therefore, surpassed
growth in the general level of
economic activity in the
Bahamas.”

Based on financial statements
recently issued, some $361 mil-
lion of those revenues were gen-
erated by the Bahamas
Telecommunications Company
(BTC) according to its 2009

Communications sector revenues

audited statements, with much
of the rest coming from Cable
Bahamas.

Elsewhere, of the 121 new
licences granted by URCA in
2009, some 27 were for use of
additional radio spectrum, eight
were operating licences, and the
remainder - 89 - reciprocal ama-
teur licences. Of the 28 licences
not granted, their applications
were pending.

Apart from BTC, Columbus
Communications and Caribbean
Crossings, URCA also revealed
that in 2009-2010 it had granted
a licence to another internation-
al connectivity provider, Global
Nexus Telecommunications,
which is proposing to build and
operate a submarine cable with a
landing in Freeport, Grand
Bahama.

The sector regulator, seem-
ingly excluding callback and
Voice over Internet Protocol
(VoIP) providers, pegged BTC’s
share of the Bahamian fixed-line
voice market at 98 per cent, with

Advanced Financial &
Accounting Analyst

Nassau based private equity group with
holdings in real estate, hospitality and mortgage
lending is seeking a positive, results oriented,
highly motivated individual with the following

qualifications:

* Three to five years of Financial and Accounting
experience in banking or hospitality industries

* College degree (Bachelor) in Business,

Finance or Accounting

* Charted Accountant (highly desired)

The private equity group is a highly dynamic
and growing business. Business activities span
investments throughout the Americas and the

Caribbean.

Qualified candidates should email

their resume and salary expectations to Nassau

FinanceAnal

st2010@gmail.com.All

applications are kept in strict confidence.

Systems Resource Group (SRG)
having the remainder.

Fixed-line telephone services
were said to have a market pen-
etration of 37.74 subscribers per
100 persons, a ratio that “com-
pares favourably” with most
countries in a benchmarking
sample, apart from Bermuda
and the Cayman Islands, where
the ratios were 88.96 and 67.69
per 100 persons respectively.

Fixed-line service prices had
remained stable for five years,
with BTC’s residential access
charge at $15 per month ($12
for elderly residents), and busi-
ness access at $36 per month.
BTC’s long distance call rates
ranged from $0.47 per minute to
the US, to $0.66 for the
Caribbean (excluding Cuba) and
$0.85 for Cuba and nations out-
side the Caribbean/North Amer-
ica.

BTC and SRG’s Voice over
Internet packages provided for
rates ranging from $9.95 to
$34.99 per month.

On the cellular side, penetra-
tion was relatively high despite
BTC’s monopoly, with 105
phones per 100 inhabitants.

This figure, though, was well
below all others in URCA’s
sample, with penetration as high
as 178.16 phones per person in
Anguilla.

Elsewhere, on the broadband
Internet side, penetration by the
likes of BTC, Cable Bahamas
and smaller Internet Service
Providers (ISPs) stood at 18.48
subscribers per 100 persons. That
figure, according to URCA, was
comprised of 12.6 cable sub-
scribers per 100 persons, and
5.88 DSL (BTC) subscribers per
100 persons.

These penetration figures,
though, ranked the Bahamas
behind the likes of Barbados,
Bermuda, St Kitts, Singapore
and New Zealand.

And, finally, on pay television
services, the penetration in the
Bahamas was found to be 22.95
subscribers per 100 persons.

Meanwhile, URCA said it
expects to decide this month on
whether Cable Bahamas has

HOTEL MANAGERS PENSION FUND
NOTICE

Pensioners af

THE BAHAMAS

HOTEL

INDUSTRY MANAGEMENT PENSION FUND
are asked to visit the Fund's Office in the Societe
Generale Building, #4 West Bay Street, Nassau,
N.P., The Bahamas to obtain an end of year voucher
and to update their pension eligibility records,

Please call or visit the Funds Office on or betore
Thursday, 23rd December 2010.

Please call us at (242) 322-8331/4 if you have any

questions.

The Trustees for the Fund wish all hotel pensioners a
safe and joyous holiday season,

For mere information

the Bahamas Hatel

Industry Management Pension Fund you may visit
our website at: waw.bhimpf.com.

Darte: é* December 2010



complied with its obligation to
separate its cable TV and Inter-
net services, as well as complete
its review of the BISX-listed
company and BTC’s accounting
separation and cost accounting
reports.

These are required under
their Significant Market Power
(SMP) obligations.

URCA also plans to make a
decision on BTC’s Reference
Access and Interconnection
(RAIO) offer in the 2011 first
quarter.

For 2011, URCA is budget-
ing for just over a 9 per cent
increase in operating spending
to $5.285 million, compared to
$4.835 million for this year, with

operating expenditure to
increase by $278,000.

Rent and utilities have
increased from 2 per cent to 8
per cent of budget, due to
URCA’s move to expanded
offices in premises owned by
UBS (Bahamas).

Staff costs have increased by
three percentage points to 33 per
cent of URCA’s budget, with
another 34 per cent to go on pro-
fessional services.

This includes $650,000 for reg-
ulatory advice, $262,000 for legal
fees, and $131,000 for human
resources, with URCA attribut-
ing these spending needs to the
fact itis a relative newcomer as a
regulatory agency.

Engineers in move on EPA recognition
FROM page one

(MRA).

This is required before engineers from both regions, including
the Bahamas, can sell their skills in each other's markets.

By doing so, engineers will become the first Bahamian profession
to take steps towards achieving mutual recognition for themselves in
Europe ahead of the implementation of the EPA, which is intended
to ease access for CARICOM states’ goods, services and professionals
into the European market and vice versa.

In a technical workshop on the EPA held at the Sheraton Nassau
Beach Resort, Allyson Francis, a services and investment specialist
with the Office of Trade Negotiations (OTN) in the CARICOM sec-
retariat, highlighted 29 service areas whose inclusion in the EPA ser-
vices schedule, she said, indicates that the European Union (EU) is
"encouraging" involvement by Bahamian professionals in those
fields in Europe, subject to certain conditions.

These fields include: legal advisory services with respect to inter-
national public law and foreign law (i.e. non EU-law); accounting and
bookkeeping services; taxation advisory services, architectural ser-
vices; urban planning and landscape architecture services; engineer-
ing services; integrated engineering services; medical and dental ser-
vices; veterinary services; midwives services; services provided by nurs-
es, physiotherapist and paramedical personnel; computer and relat-
ed services; research and development services; advertising services;
market research and opinion polling; management consulting services;
services related to management consulting; technical testing and
analysis services; related scientific and technical consulting services,
maintenance and repair of equipment, notably in the context of an
after-sales or after-lease contract; chef services; fashion model services;
translation and interpretation services; site investigation work; high-
er education services (only privately-funded); environmental ser-
vices; travel agencies and tour operator's services; tour guides services;
entertainment services other than audiovisual services.

The terms of the agreement also allow for European profession-
als to supply contractual services in these areas in the Bahamas,
subject to eight conditions, which include the need to have a university
degree and other necessary professional qualifications - except in the
case of chefs, fashion models and entertainment service suppliers - and
the demand that the professional involved does not have a contract
to operate in the country for over a year. The agreement also
demands that the service supplier cannot receive payment for any oth-
er services other than those he or she came to Europe or the
Caribbean to supply.

Under the services schedule of the EPA, which is available on the

SEE page 9B

(aN-1149

OFFICE OF THE PRIME MINISTER

COMMONWEALTH OF THE BAHAMAS

NEW PROVIDENCE

THE ACQUISITION OF LAND ACT

(Chapter 233)

DECLARATION OF INTENDED ACQUISITION

WHEREAS it appears to the Prime Minister, the Minister responsible for
the Acquisition and Disposition of Lands that the land described in the

Schedule hereto is needed for a public purpose.

NOW THEREFORE Notice is hereby given by the Promoter, the Minister
responsible for Acquisition & Disposition of Lands, that the said land is

needed for a public purpose, namely, construction of public utilities
infrastructure and for uses related thereto and that the said Promoter intends

to acquire the sald land for the said public purpose.

ALL PERSONS interested in the said land shall within thirty (30) days of
the publication of this Notice in the Gazette or the posting of the same, state in

writing to the Promoter, whether by hand-delivery or by post at P. 0. Box
CB-10980, Nassau, The Bahamas, the nature of their interests in the sald land,

the amount and particulars of their claims to compensation for such interests

and provide the relevant documents (if any) supporting those interests.

The Survey Plan of the said land may be inspected at the Department of
Lands and Surveys situate at Bay and Armstrong Streets, New Providence

between the hours of 9:30 a.m. and 5:00 p.m. from Monday to Friday.

Datedthe 6° day of

Signed:
Hubert A. Ingraham

Minister Responsible for
the Acquisition and Disposition of Lands

Schedule (Annexed)

December AD. 2010

AMD that cer



the East on vn

SCHEDULE

AREA = 44179 SOUARE FEET

4479 Scuare Feet
Inaly granted 1 Hare riste
ef land cx
by Bahamas Electricity Carpe
Bimin
wart the Marth on thet aforementioned bent ¢

imber 32

land towards the Somth partly i
land towards the West on th
but and bound which said jot
med pink on

He number 2804 in the Department of

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



THE TRIBUNE



MONDAY, DECEMBER 13, 2010, PAGE 9B

{CAPITAL MARKETS

= FG

BROKERAGE & ADVISORY SERVICES

FROM page 8B

website of the Caribbean
Regional Negotiating Machin-
ery, terms also exist under which
other categories of people,
defined as "independent profes-
sionals", "graduate trainees",
"key personnel” and "business
service suppliers" in various
fields can enter into countries in
the two regions to sell their skills
- again subject to a number of
terms and conditions.

The EPA speaks to the
requirement for professional pri-
vate sector bodies in Europe and
the Caribbean to enter into
negotiations regarding the terms
and conditions under which they
will accept each others’ nation-
als, who may provide a particular
service, such as accounting, to
enter their market.

The MRAs are to address the
method of accreditation in a giv-
en country, seeking to ensure an
easier method of accounting for
the level of education and capac-
ity of a professional in a particu-
lar field should they come seek-
ing to provide services in anoth-
er jurisdiction.

The intention is that the
MRAs would be negotiated and
finalised through discussion
between professional bodies
within various countries, or rep-
resenting the region as a whole -
hence the need for Bahamian
and other Caribbean engineers
to meet with the European Fed-
eration of National Engineering
Associations, a body which
incorporates Europe-wide pro-
fessional engineering organisa-
tions.

Engineers in
move on EPA

recognition

Such MRAs are another
move towards greater formali-
sation and regulation of stan-
dards governing particular pro-
fessional services, such as
accountants, engineers and archi-
tects, in the Bahamas. Without
such formalisation of standards,
such professions will be in a
weak position when it comes to
speaking with their European
counterparts about who should
and should not be permitted to
come to the Bahamas to operate
in these fields.

Other service suppliers have
been encouraged to form pro-
fessional associations to begin
discussing accreditation of pro-
fessionals in their service area.
With tourism one of the key
areas in which it is expected
Bahamian professionals may be
able to benefit from the EPA
with Europe, Winston Rolle,
executive drector of the
Bahamas Chamber of Com-
merce, said going forward the
formation of a professional asso-
ciation by such individuals
should be a priority.

"Tourism can cover so many
things - anything from a bellman
to a marine biologist - but I
would imagine most of the inter-
est you would be getting would
be more from people in man-
agement, and so obviously
they’re going to have to get
together to help craft their crite-
rias," said Mr Rolle.

Bisk&

ROYAL FIDELITY

Money ot Work

BISX LISTED & TRADED SECURITIES AS OF:

FRIDAY, 10 DECEMBER 2010

BISX ALL SHARE INDEX: CLOSE 1,482.73 | CHG 0.01 | %CHG 0.00 | YTD -82.65 | YTD % -5.28
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Security
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S$)

Focol Class B Preference
ICD Utilities

Jd. S. Johnson

Premier Real Estate

Previous Close Today's Close

Change EPS $ Div $
1.01 1.01 0.00 0.150
0.00 0.013
4.90 4.90 0.00 0.598
0.18 0.18 0.00 -0.877
2.70 2.70 0.00 0.168
2.17 2.17 0.00 0.016
10.46 10.46 0.00 1.050
2.40 2.40 0.00 0.781
6.85 6.85 0.00 0.422
1.79 1.80 0.01 0.111
1.60 1.60 0.00 0.199
6.07 6.07 0.00 -0.003
7.23 7.23 0.00 0.287
9.39 9.39 0.00 0.645
5.46 5.46 0.00 0.366
1.00 1.00 0.00 0.000
5.59 5.59 0.00 0.012
9.82 9.82 0.00 0.971
10.00 10.00 0.00 0.991

Daily Vol.

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

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

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Last Sale Change Interest
99.46 0.00 6.95%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%

Daily Vol.

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

Symbol
5.01 Bahamas Supermarkets
0.40 RND Holdings

Bid $ Ask $ Last Price EPS $ Div $
5.01 6.01 14.00 -2.945 0.000
0.35 0.40 0.55 0.001 0.000

Daily Vol.

CFAL Securities Ltd. (Over-The-Counter Securities)

29.00 ABDAB
0.40 RND Holdings

52wk-Low
1.4076

Fund Name
CFAL Bond Fund
2.8300 CFAL MSI Preferred Fund
1.4954 CFAL Money Market Fund
2.8522 Royal Fidelity Bahamas G & | Fund
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 Royal Fidelity Bah Intl Investment Fund Principal
Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Intl Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3
Royal Fidelity Intl Fund - Equities Sub Fund

9.1708

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

KS) - 4-for-1 Stock Split - Effective Date 8/8/2007

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

30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD%
1.5179 5.51%
2.9187 1.10%
1.5697 4.15%
2.7108 -13.03%
13.2825 -0.63%
114.3684 9.98%
106.5528 4.75%
1.1367 4.30%
1.0974 2.75%
1.1363 4.18%

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.919946
1.551550

NAV 6MTH
1.475244
2.911577
1.532712

Last 12 Months %
6.90%
3.13%
4.18%
-4.96%
-0.14%
12.49%
7.18%
5.21%
6.87%
5.78%

109.392860
100.779540

107.570619
105.776543

9.7950 4.85% 5.45%

10.6417 -1.20% 0.50%
9.6635 -3.37%
7.9442 2.94%
MARKET TERMS

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths

NAV - Net Asset Value

N/M - Not Meaningful

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

-3.37%
6.47%

P/E

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

P/E
256.6

9.03
261.90

NAV Date
30-Nov-10
30-Sep-10
3-Dec-10
30-Nov-10
30-Nov-10
30-Jun-10
30-Sep-10
31-Oct-10
31-Oct-10
31-Oct-10

30-Nov-10
30-Nov-10

30-Nov-10
30-Nov-10



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

GN-1148

OFFICE OF THE PRIME MINISTER

(Chapter 233)

Datedthe 3 dayof December

DECLARATION OF INTENDED ACQUISITION

WHEREAS it appears to the Prime Minister, the Minister responsible for
the Acquisition and Disposition of Lands that the lands described in the

Schedule hereto are needed for a public purpose.

A.D, 2010
Signed:

Hubert A. Ingraham
Minister Responsible for

Acquisition and Disposition of Lands

Schedule (Annexed)

NOW THEREFORE Notice is hereby given by the Promoter, the Minister
responéible for Acquisition and Disposition of Lands, that the said lands are

needed for a public purpose, namely, public road intersection improvements
and for uses related thereto and that the sald Promoter intends to acquire the

said lands for the sald public purpose.

ALL PERSONS interested in the said lands shall within thirty (30) days
of the publication of this Notice in the Gazette or the posting of the same, state
in writing to the Promoter, whether by hand-delivery or by post at P.O. Box

SCHEDULE

AREA = 623 SQUARE FEET

All that certain lot piece or parcel of land containing by

admeasurement six hundred twenty three square feet (623 sq.

ft.) thereabouts and shown on a plan on record in MP file in

the

CB 10960, Nassau, The Bahamas, the nature of their interests in the said lands,
the amount and particulars of their claims to compensation for such interests

Department ol

Lands and Surveys situate at

the
Northwest junction of William Cave and Shirley Street in
the city district of Nassau in the Commonwealth of the

Bahamas abutting and bounding toward the North on Estate

of Anthony Baker toward the East on other portion of the

Estate of Anthony Baker toward South on Shirley Street and

and provide the relevant documents (if any) supporting those interests,

The Survey Plan of the said lands may be inspected at the Department
of Lands and Surveys situate at Bay and Armstrong Streets, New Providence
between the hours of 9:30 am. and 5:00 pum. from Monday to Friday.

toward the West on William Cave or however else the same

(hereinatiter

called “demised Premises’) is‘are

of the areca hereto annexed and marked “A”

may abut and bound which said lot piece or parcel of land

more

Particularly delineated and shown coloured pink on the plan



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Full Text


{V\ aR

Pim blowin’ it

71F
J/F

CLOUDY, A
SHOWER

HIGH
LOW

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Volume: 107 No.19



US

SEE INSIGHT ON PAGE 12B



Numbers taking
a ‘major toll’ on
health care system

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

PRELIMINARY year-end
statistics for the National
Emergency Medical Services
department indicate there has
been a 44 per cent increase in
gunshot victims compared to
the same period last year.
According to Dr Alvery Han-
na, NEMS director, the
reports for the January to
October period indicate that
trauma — secondary to crimi-
nal activity — is taking a

“major toll” on the health
care system.

Late last night, the homi-
cide count climbed to 93 fol-
lowing the fatal shooting of a
man at Augusta Street.

Meanwhile on Friday
night, two shootings were
reported within 15 minutes of
each other. Both men — who
were taken to hospital by
National Emergency Medical
Services (NEMS) — were
said to be in stable condition
up to press time.

SEE page 13

TWO PARAMEDICS ACCUSED OF
EXTORTING TOURISTS BACK AT WORK

By AVA TURNQUEST
Tribune Staff Reporter
aturnquest@tribunemedia.net

THE TWO paramedics accused of extorting tourists have
returned to work with top officials citing insufficient evidence.

In September, it was alleged that a two-member crew told two
visitors who were injured in a traffic accident that they would
have to pay up-front for treatment and transport.

SEE page 13

me Holila
a J

* Hari

* Power Wheels
* Games

* oaks

+ bre 4b Grafts
* ucclea

+ Cribe

* Minhencde Wi
* Computers

+ Soeoters

* Hiepeles

* Roller Glodes
® Borbiec

« Core

" Stuffed Animals

+ Roby Clothes

+ ie Beaks

* Deby Aoreseeries
« Hoppers

* Wolker:

* Cor Sent Coriers

* Blacirenty Tops «fiction Figeres Smal rus meee!

* Piture Frome: * deereley Baes

' Dinero Sete

' Freed Fichires

t Lapgage

| Candles) Holders

| Micnosowne
ond much mare!

"Power Toole = Hole Timers

* Homd Tools = Blacirenice

+ Too! Bamed == Grillz
'Televaiang = - Hommocks
*Purniture = Gorden Gepplies
+ Biles * Telephanes

+ Oihweere ® Sermon

“Di Boeke = + Body Messogerd



MONDAY, DECEMBER 13, 2010



Christie: government has
shortchanged public
over proposed BTC sale

THE government has
shortchanged the Bahami-
an public in the proposed
sale of a majority stake in
the Bahamas Telecom-
munications Corporation
(BTC) PLP leader Perry
Christie said yesterday,
noting that his adminis-
tration had always intend-
ed for the Bahamian peo-
ple to retain ownership of
the company.
vs Facies he PERRY CHRISTIE
appeared as a guest on
the talkshow “Parliament Street,” on Island
102.9 said, “We actually engaged in a

SEE page 14

PRICE =75¢

SPORTS

oe
gunshot Victims

RU ee TS
HITS OUT AT ‘PREMATURE’
RUS @ tt

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

BTC'S union heads acted
"prematurely" and didn't go
through the proper legal chan-
nels before staging two days
of industrial action which
could create "anarchy" in our
society, said former trade
unionist Leo Douglas.

The union executives may
also face lawsuits over revenue
lost during two days of
employee protest, speculated
the former secretary general
of the Bahamas Hotel Cater-
ing and Allied Workers

SEE page 15



‘FLATBREAD:

BIG,

BOLD TASTE,
BIGGER SIZE.





(Abaco and Grand Bahama $1.25)



= SEE SECTION E

SEAT BELT LAW
COMES INTO
EFFECT TODAY

POLICE will be posted
at various points through-
out New Providence today
to enforce the seat belt law,
which has been on the
statute books since 2002.
They will be checking vehi-
cles and handing out infor-
mation pamphlets.

Motorists have been
advised to take the seat
belt law seriously as
“police intend to enforce
it to its fullest extent.”

Seat belt legislation was
passed and became law in
2002 under the FNM.

SEE page 14




POLICE and residents gather at the scene (above) and
(left) the body is removed from the area.



THE unprecedented homicide rate broke a new
record last night when a man was gunned down in
Augusta Street, near Tucker Corner in front of a
convenience store just before 7pm.

Multiple gunshot wounds claimed the life of the
country’s 93rd murder victim who was pronounced
dead at the scene of the shooting on the residential
street. Police had not identified the man before The
Tribune went to press, however anyone with any
information that could assist investigations should
call police as a matter of urgency on 911, 919, or call

Unions ‘are not backing
down’ over BTC sale

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

BAHAMAS Communications and Public
Officers Union president Bernard Evans says
the unions are not backing down in their fight
against the proposed sale of a majority stake
in the Bahamas Telecommunications Com-
pany (BTC).

Mr Evans said that union executives have
been encouraged by the overwhelming pub-
lic support. Several major unions in the coun-
try are also standing with the BCPOU in sup-
port of BTC workers. The unions represent-
ing BTC workers are objecting to the gov-
ernment’s plan to sell 51 per cent of the com-
pany to Cable and Wireless Communications
(C&WC). The government is proposing to
sell 51 per cent of BTC to C&W for $210

SEE page 14

“y
Quiznos

$f "95

Make it a combo for $2



NASSAU AND BAHAM/

ISLANDS” LEADING NEWSPAPER
PAGE 2, MONDAY, DECEMBER 13, 2010

LOCAL NEWS

THE TRIBUNE

Mother and daughter homeless for Christmas

Landlords remove doors after woman unable to pay rent

if

International

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_ to contribute to Green Cross International initiatives.
To learn: more please visit www.tagheuer.com

WHAT ARE YOU MADE OF?

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Port Lucaya Marketplace Freeport, Grand Bahama



By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

A GRIEVING mother
and her daughter were forced
out of their home yesterday
morning when their landlords
removed the doors to their
rooms after already remov-
ing the front and back doors.

Theresa Gibson, whose
partner of 18 years and father
of her daughter, Elezier Reg-
nier died in February, has
been unable to pay the rent
at her two-bedroom home in
Faith Avenue since she
moved in on August 28 and
paid for two months accom-
modation.

When she was unable to
pay her rent at the end of
October, Ms Gibson said her
landlords sent someone over
to remove the front and back
doors while her daughter was
at home.

Locks

Mother and daughter spent
two nights sleeping in her
Nissan Skyline parked at the
police Criminal Detective
Unit before returning to the
home with locks on the inte-
rior doors.

But yesterday the doors to
her and her daughter’s bed-
rooms and the bathroom
were also removed, forcing
the family of two out of their
home.

Last night she and her
daughter Renee Regnier, 17,
out of desperation sought
refuge at her sister’s house,
but Ms Gibson said there is
really no room for them to
stay there.

The freelance legal assis-
tant has struggled to find
work in recent months, and
her financial situation took a
massive hit when her partner
died suddenly of a heart
attack.

But the start of their finan-
cial woes began when Mr
Regnier, a lawyer and out-
spoken human rights activist,
was charged in connection
with a stealing ring in July
last year.

Ms Gibson said police
seized several of her own
valuables as well as her part-
ner’s belongings in the arrest.

When Ms Gibson was
unable to pay her rent in
October she appealed to
social services for help, and
although government offi-
cials were willing to assist,
she said her landlord refused
to provide the documenta-
tion she needed to prove she
had not been able to pay the
rent.

Police

Her landlords then
removed the doors and Ms
Gibson went to police for
help.

But she said officers at the
Carmichael Road Police
Division were unwilling to
help as they said it was a civ-
il matter and they could not
get involved.

Ms Gibson has since been
summoned to appear in
court on January 18 to
respond to claims of unpaid
rent filed by her landlords,
and until then she and her
daughter are homeless for
Christmas.

She said: “It’s awful, espe-
cially for my daughter.

“Her father just died seven
months ago and we are try-
ing to pull ourselves togeth-
er; you would think some-
one would have some com-
passion.

“We need a place to stay
but with no funds we have
to depend on social services.

“The landlords didn’t want
to help, they just want me
out of here.

“They should not have
come in and removed the
doors without permission
from the courts, but the
police tell me there’s noth-
ing they can do about it,
which is awful because I feel
there is no one to protect
me.

“There should be laws to
protect me, but the police
are not enforcing the law.

“And I have been trying
to look for somewhere else
to live but because I don’t
have any money, no one will
have me.”



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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 3



LOCAL NEWS



CABLE AND
WIRELESS

WINS AWARD.

By MEGAN REYNOLDS
Tribune Staff Reporter

mreynolds@tribunemedia.net

TELECOMMUNICA- }
TIONS giant Cable and}
Wireless has won an award }
for providing a great envi- }
ronment in the workplace at }
its operations in Panama as }
Bahamas Telecommunica- }
tions Company (BTC)
employees protested over }
their impending privatisation }

of BTC.

Cable and Wireless will :
take 51 per cent ownership }
of BTC in January, sparking }
protest from staff who took }
strike action on Wednesday
and Thursday with repre- }
sentation from the Bahamas }
Communications and Public ;
Officers Union (BCPOU) }
and the Bahamas Commu- }
nications and Public Man- }
agerial Union (BCPMU), :
and the support of most, if }
not all, unions in the coun- }

try.

the unions.

The company maintains }
privatisation can be a suc- }
cess and cited its 1997;
takeover of government-}
owned telecommunications }
operations in Panama as an }

example of this.

Gallup Research select- }
ed Cable and Wireless Pana- }
ma (CWP) from more than :
one million work force i
groups in 150 countries to }
win the “The Great Work- }
place Award”, and be one }
of just two Latin American }
countries singled out for the }

prize.

the company; working:
together to achieve common }
objectives and continue to }
position it as the leader in }

Panama.

“We work on a scheme }
of open communication and }
transparent company-union }
relationship where we venti- }
late our plans, objectives and }

goals.

ties.

mitment.”

The success of CWP has }
also been recognised by}
Central American business }
magazine Estrategia and }
Negocios, who ranked it the }
best company to work for in }
the region, and market }
research company’s Dichter }
and Neira, and Globescan, }
named CWP one of Pana- }
ma’s leading companies for }
corporate social responsibil- }

ity initiatives.

CWP also claims to have }
contributed more than

SEE page six

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aga ee ary erm
aia
Tropical Exterminators
gece lal

Asie
Ptops

starting rik $699

ot =
a A

bal 2Oks

Cable and Wireless }
Caribbean, rebranded as }
LIME, has extended an}
open invitation to meet with }

Secretary of CWP’s staff
union Denia de Powell said: }
“The Cable & Wireless }
Panama Union maintains a }
very positive, constructive }
and vigilant relationship with }

“We have also conclud- }
ed the signature of a collec- }
tive bargaining agreement in }
a friendly environment, }
where our employees and }
the company succeeded in }
framing the benefits and
responsibilities with satis- }
factory results for both par- }

“Our workforce is com- |
mitted to the present and the }
future of CWP always giv- }
ing the extra mile to ensure }
that as shareholders of the }
company, we can achieve the }
best results because of our }
hard work and daily com- }

Onstituency poll shows many
support proposed BIC sale

A RECENT poll taken in
the Killarney constituency
shows that there are many
Bahamians who support the

government’s intention to sell
a 51 per cent stake in The
Bahamas Telecommunica-
tions Company to the British

nications (C& WC).

DEFENCE FORCE MAKES DONATIONS

THE Royal Bahamas
Defence Force made
separate presentations
to two charitable
organisations as a part
of its year long list of
activities commemo-
rating its 30th anniver-
sary of official estab-
lishment. At 10 am on
Friday National Secu-
rity Minister Tommy
Turnquest made a
donation to the Yellow
Elder Senior Citizens
Centre in Yellow Elder
Gardens.

At 1pm on the same
day another brief cere-
mony was held at the
Ranfurly Homes for
Children,
Street, to make anoth-
er donation.

Mackey &

LEADING WOMAN Thora Gardener helps a senior citizen unwrap gifts.



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telecommunication company
Cable and Wireless Commu-

A recent poll conducted on

“Voices Killarney,” an online
news letter from the con-
stituency office of Dr Hubert
Minnis revealed that 67 peo-
ple who participated in the
poll supported the BTC deal
while 50 persons opposed the
deal. The poll, which was con-
ducted on December 10 and
11, also revealed that six per-
sons who participated in the
poll were undecided.

Among those who support-
ed the sale one person com-
mented, “I think the sale is
an excellent idea. C&W are
in the Caribbean Islands.
Although we are considered
ahead of them economically
their telephone technology is
far ahead of us.” Another
posted, “The union just needs
to get over it. It is ludicrous
that a union dictates who the

government sells any corpo-
ration to. The government is
elected by the people to con-
duct work on behalf of the
people so I believe that every
government would make
decisions that are in the best
interest of the country. Those
people at Batelco are lazy and
are afraid of privatization.”
Another person in support
of the sale commented, “The
sale of Batelco is long over-
due. We are paying far too
much for out dated systems
and service that is not cus-
tomer-oriented. I have been
trying to find out for over one
year how my land line was
turned over in the name of
my tenant and they were

SEE page six



















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til Ghristmas, Don't
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Come on in to Bay
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Castrol.

Liquid engineering.

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EFFECTIVE DECEMBER 10TH, 2
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 4, MONDAY, DECEMBER 13, 2010

EDITORIAL/LETTERS TO THE EDITOR

THE TRIBUNE





The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

BTC union getting poor advice in BTC sale

UNION LEADERS, who initially agreed
to meet with the proposed new owners of
BTC — and said so in writing — now main-
tain that the injection of outside capital and
expertise are not needed to bring down
telecommunication rates for customers. The
government, they say, can do that at any
time, because they own BTC, the former
BaTelCo.

Mr David Shaw, top Cable & Wireless
executive, who flew to Nassau especially to
meet with the union, the Opposition party
and members of the press, revealed that,
among other things, Bahamians were paying
20 to 30 per cent more for cellular services
than they should be.

BCPMU president William Carroll’s
reply to that was that it would only take a
telephone call or an e-mail from Prime Min-
ister Ingraham to reduce cellular phone rates
by 50 per cent. “We don’t need a foreign
company to reduce rates,” he said.

That statement was as dumb as the amus-
ing spoof e-mailed to me this week about
Sarah Palin, the former governor of Alaska
who claimed she was up on foreign affairs
because from Alaska she could see Russia
across the Bering Strait.

In this spoof a photo of an animated
Palin, telephone in one hand, pen in the oth-
er, is shown followed by this exchange:

“Hi. This is Sarah Palin. Is Senator
Lieberman in?”

“No, governor. This is Yom Kippur.”

“Well, hello, Yom. Can I leave a mes-
sage?”

For those of our readers not up on their
Jewish high holy days, Yom Kippur — the
Day of Atonement — is the holiest day of
the year for the Jewish people. And so Sen-
ator Joe Lieberman, the US senator for Con-
necticut, being a Jew, would not have been in
office on that day.

As for union leader Carroll to say that all
it takes would be a stroke of the Prime Min-
ister’s pen to reduce BTC rates, shows how
equally dumb he is about managing a busi-
ness. Other than collecting his own pay
cheque, he has obviously not had to find
payroll for a staff of more than 1,000 employ-
ees.

He does not understand that before the
Prime Minister can take up a pen to slash
rates, he would have to cut staff so that BT'C
could earn enough revenue to pay remaining
staff and operate at a profit. The Prime Min-
ister would have to find a hefty injection of
cash from somewhere to make BTC com-
petitive, because the day it loses its monop-
oly on cellular and fixed line services, that is
the day BTC closes unless it has a strong
international partner to make it competi-
tive.

The union maintains that it was kept in the
dark on the Memorandum of Understand-
ing, and various other details of the pro-
posed sale to Cable & Wireless. The gov-
ernment maintains that the public is not get-
ting the whole truth.

When the FNM took over the govern-
ment, it met an unsigned agreement between
the PLP government and Bluewater, which
was said at the time — 2006— was a bid
vehicle especially created to buy into and
privatise BTC. It was speculated that it was
likely backed by private equity financing.
Among its principals was a former chair-
man and CEO of Warner Music group, and
former financial officer of NTL, a UK based
cable operator. Bluewater, which was to get
49 per cent of BTC, had no track record.
Its principals obviously did not have the
money to pay cash on completion of the
deal. They were given six years to pay on
instalments — obviously out of what they
hoped to make from BTC. And for those six
years it was to have a monopoly on cellular
service. Bluewater, in an attempt to lock the
PLP government into the deal, wanted an
agreement that should the PLP renege on its
agreement, Bluewater would be paid $5 mil-
lion. It is understood that the privatisation
committee made up of then Minister Bradley
Roberts, James Smith, minister of state for
finance, and Dr Marcus Bethel, agreed the
proposal. However, the Christie cabinet
turned it down. On April 24, 2007 — a week
before election — the committee submitted
its report, which was approved, but not
signed by the Christie government.

The union had no objection to that deal,
which was to sell 49 per cent to Bluewater,
giving them full management control with
four Bluewater representatives and three
government members on the board. This
government’s sale to Cable & Wireless is
for 51 per cent.

The results are the same — the 51 per
cent gives them full management control
with four of their members on the board
and three from government.

However, there is a difference between
the two agreements — in the present agree-
ment with Cable & Wireless there are sev-
eral things that it cannot do without gov-
ernment’s consent, one of them being laying
off Bahamian staff.

The union claims that it was not aware of
the Memorandum of Understanding with
Cable & Wireless. We understand that gov-
ernment did not send it to the committee,
instead the Prime Minister personally sat
down with the union and discussed it with its
executive. Union members argued that it
did not want Cable & Wireless as their part-
ner. However, they agreed verbally and in
writing to meet with Mr Shaw, CEO of
Cable & Wireless, who was flying in espe-
cially to meet with them. Mr Shaw arrived,
the table for the meeting with refreshments
was ready when a message arrived that the
union would not be there.

Whoever the union’s behind-the-scenes
handlers now are — and what we hear, if
true, does not bode well for the union —
we suggest that in their own best interest
and that of their membership, they sit down
and talk with BTC’s new owners.

rt
Wrap your home | in the colours,

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Response
to article by
Mr Dupuch

EDITOR, The Tribune.

I SHOULD be grateful if
you would permit me to
respond to an article that was
written by Mr Pierre Dupuch
and published in your paper
last week (Dec. 2, 2010).

Firstly, I was not surprised
at the attempt by Mr Dupuch
to seek to discredit me when I
challenged him to speak the
truth about the dredging that
he alleged was taking place
in the Exuma Cays and the
Exuma Land and Sea Park.

I was somewhat disap-
pointed though, that the best
response he could muster was
to revert to heaping ill-names
on me and calling me rude
and arrogant.

It is remarkable that even
in the face of incontrovertible
evidence Mr Dupuch would
choose to ignore the facts and
continue on his mission of
misinformation about activi-
ties in the Land and Sea Park.
Mr Dupuch said “he thought
I called the show to prove
someone wrong.”

It was certainly not my
intention to prove anyone
wrong. But perhaps I did.
Indeed I stated at the outset
of the telephone conservation
that the programme host and
guest on the show (Mr
Dupuch) had a responsibility
and an obligation to speak the
truth about what was hap-
pening in the Exuma Land
and Sea Park. I indicated to
the host and his guest that
they were misleading the pub-
lic when they stated that
dredging was going on at Bell
Island in the Exuma Land
and Sea Park.

Coincidentally, last Satur-
day, Mr Wendell Jones and
the Jones Communications
team confirmed that my state-
ment about the project was
true, as no dredging had taken
place either in the park or on
the Island owned by the Aga
Khan.

I stated during the conver-
sation that neither the gov-
ernment nor I supported the
construction of commercial
marinas in the park.

But, I indicated that I did
not have any problem sup-
porting the creation of “safe
harbours” for the private
yachts of the owners of pri-
vately owned Cays in the
Exuma Land and Sea Park.

I confirmed that my views
on development in the Park
were different from those
individuals who believed that
the Park should be a “no
build zone,” consequently
opposing all forms of devel-
opment in the area. I
expressed the view that devel-
opment in the Park was
indeed necessary. But, I also
expressed the view that any
form of development had to
be carefully considered, well
planned, and properly man-
aged.

At no time during my con-
versation with Mr McKinney
and Mr Dupuch did I ques-
tion their reasons or objec-

LETTERS

letters@tribunemedia.net



tions to dredging or develop-
ment in the National Park.
However, I did say to Mr
McKinney that the pho-
tographs he claimed to have
in his possession that would
indicate active dredging on
Bell Island, were either from
a different island, old pho-
tographs or fraudulent pho-
tographs. Consequently, I
advised both Mr McKinney
and Mr Dupuch to discontin-
ue advancing false informa-
tion as it was negatively
impacting the lives of resi-
dents of Exuma, especially
those in the Exuma Cays.

When I called the talk
show, I also made the point
that dredging was not a new
phenomenon in the Exuma
Cays and the Exuma Land
and Sea Park. In fact, I made
the point that nearly every
single island in the Exuma
Cays has been dredged,
including Cambridge Cay, the
present headquarters for the
National Land and Sea Park.
In almost every case, dredging
in the cays was necessary to
create safe harbours, either
for the owners of the Cays or
for the creation of commer-
cial marinas outside the
National Park. (The Cays
include: Allen’s Cay, Norman
Cay, Wax Cay, Soldiers Cay,
Indigo Island, Cambridge
Cay, Bell Island, and Com-
pass Cay, etc).

While speaking to Mr
McKinney, I advised that he
should seek to give a balanced
view of Mr Hubert Ingra-
ham’s record with regards to
the protection of the environ-
ment and the National Park.
Indeed, I reminded the host
that it was the Ingraham’s
administration that was
responsible for placing the
Defence Force within the
Park to enhance protection
of the resources of the Park.
This action by the Prime Min-
ister was not without serious
political cost as members of
the PLP sought to gain polit-
ical mileage by saying all man-
ner of things about the
enforcement of regulations in
the Park. But, The Prime
Minister remained focused.
The people of the Exuma
Cays and The Bahamas, espe-
cially those in the fishing
industry, have expressed sup-
port (gratitude) for the
focused determination of the
FNM Government to protect
and preserve our heritage.
Moreover, many of the young
men in the Cays, despite their
initial opposition, have now
taken the opportunity to ven-
ture into different skills-sets,
including, guiding, boat rental,
carpentry and masonry. They
now support the general mis-
sion of the National Park and
have made it their duty to
protect and preserve the envi-
ronment.

It is now very obvious to
me that Mr Dupuch was up
to mischief once again. His
suggestion that I am an advi-
sor to the Prime Minister in
this context is but another
example of this mischief.

I would like to remind Mr
Dupuch of facts that he
should be aware of. The
Prime Minister is advised by
the Best Commission, the
Department of Physical Plan-
ning and other relevant gov-
ernment agencies on matters
of developments that may
require excavation or dredg-
ing. Mr Dupuch should also
be aware that the Public Ser-
vants who provide advice on
these matters do so profes-
sionally regardless to which
political party is in power or
which political party they sup-
port.

When I called the talk
show, I also took the oppor-
tunity to caution Mr Dupuch
that his newly found position
on dredging is not supported
by his previous actions on this
matter. I reminded him that
dredging was approved in the
Cays and in the Park when he
was a Cabinet Minister. Ican
only assume that he support-
ed it then because he did not
object to it nor did he resign
from the Cabinet.

I concluded my comments
by stating the following:

(1) I do not support dredg-
ing in the Exuma National
Land and Sea Park for com-
mercial reasons, but I do sup-
port some form of dredging
when necessary.

(2) Approval for dredging
in the Exuma Cays, including
the National Park to provide
safe harbours must be thor-
oughly planned and careful-
ly managed so as to minimise
any potential lasting damage
to the environment.

(3) I support the profes-
sionals who reviewed the
application and the related
environmental impact assess-
ment and who provided
advise to the Government.

(4) I support carefully
planned but limited develop-
ment on Island in the Exuma
Cays including Cays in the
National Land and Sea Park.

(5) Ihave always advocated
that developers should seek
to employ unemployed per-
sons from the surrounding
Cays so as to show good faith
to potential workers in the
area. It is my hope that Mr
Dupuch or anyone else not
continues to use this issue as
an opportunity to politicise
this approval to gain political
points to the peril of the good
people of the Exuma Cays.

I hope that I have clearly
stated my position on devel-
opment in the island of my
birth, and the islands that I
enjoy at every opportunity.

I would be grateful, if this
letter could be published in
your newspaper.

BRENSIL ROLLE
Nassau,
December 7, 2010.

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THE TRIBUNE



LOCAL NEWS

MONDAY, DECEMBER 13, 2010, PAGE 5



Christie clarifies intentions if re-electe

By NATARIO McKENZIE
Tribune Staff Reporter
nmckenzie@tribunemedia.net

PROGRESSIVE Liberal
Party leader Perry Christie yes-
terday clarified his intentions
as to whether he will serve a
full term in office if re-elected
as Prime Minister.

Mr Christie, who appeared
as a guest on the Island 102.9
talk show “Parliament Street”
said, “I was trying to commu-
nicate in fact that at the end of
the term we should be in a
place to signal to the Bahamian
people what I mean by orderly
succession. When it was said
that I would leave mid-term or
when it was said that I said I
would leave mid-term that per-
haps was a mischaracterization
or a misstatement on my part.
“IT know that people will vote
for you because of what they
think you can do for them and
for me to hold out the proba-
bility that I would leave mid-
term would not be fair to the
people who would vote for me;
to present those programmes
and policies that we will pre-
sent during our next cam-
paign.”

It was reported last month
that Mr Christie had confirmed
that he would not serve out his
full term in office if re-elected
but hand over the country’s
leadership to a successor. Mr
Christie told members of the
press that he was confident that
the PLP would have a secure
future when he demits office in
light of what he cited as depth
at the leadership position.

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Prime Minister Hubert
Ingraham has stated that he
intends to lead the Free Nation-
al Movement into the next gen-

OPPOSITION LEADER
Perry Christie

eral elections and that “when
it's time for me to go —I will go
and the party will select my
replacement.”

AV UU Da OMT UNTIL Thy

By MEGAN REYNOLDS
Tribune Staff Reporter
mreynolds@tribunemedia.net

ARMED robbers stormed
three businesses on Saturday
stealing cash and sparking
police investigations.

Keith’s Chicken Shack in
Fleming Street was robbed by a
masked man armed with a
high-powered weapon at
around 2.15am on Saturday,
police said.

The man, dressed in blue
jeans and a white T-shirt, with a
scarf tied around his face, stole
an undetermined amount of
cash from the restaurant before
running off in an easterly direc-
tion.

That evening an armed rob-
ber held up staff at the VIP
Chinese Express Restaurant in
East Street and Cordeaux
Avenue.

The robber wearing a white
tam, plaid shirt and blue jeans
was armed with a handgun
when he burst into the restau-
rant and demanded cash at
around 6.30pm.

He stole an undetermined
amount of cash before getting
away on foot. Just over an hour
later two masked gunmen
robbed D and C Convenience
Store in Fire Trail West.

Police said they burst into
the store armed with a shot-
gun at around 7.45pm, stole
an undisclosed amount of
cash before getting away on
foot.

Police are seeking informa-
tion to assist investigations into
all three armed robberies and
continue to search for two rob-

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bers, one who were masked and
armed with a handgun, who
held up a couple outside a
home in Allen Drive, off
Carmichael Road on Thursday
night.

The robbers stole the wom-
an’s handbag, watch, cellular
phone and other personal
items, and they took the man’s
cellular phone and cash before
they ran off at around 8.40pm
on Thursday.

In other crime news, police
have reported the arrests of two
men on firearms possession
charges.

Officers in the mobile divi-
sion seized two handguns and
ammunition when they
searched a man in Augusta
Street at around 8.30am on Sat-
urday.

A 28-year-old man of Quar-
ry Mission Road was arrested
in connection with the find.

Police in the Special Intelli-
gence Branch recovered a
handgun and ammunition when
they searched a man in Potter’s
Cay just before 11pm on Sat-
urday. A 35-year-old man of
Dorsette Street, Fox Hill, was
taken into custody in connec-
tion with the find.

A rifle and ammunition were
recovered by police officers in
the southeastern division when
they searched an abandoned
building in Nassau Village on
Thursday.

Police said the officers had
received a tip about the two-
storey building in Sumner
Street prompting them to
search it just before 3pm on
Thursday.

No one has been arrested in
connection with the find and
police are appealing for infor-
mation.

Any information that may
assist investigations into any of
the crimes reported this week-
end should call police as a mat-
ter of urgency on 911, 919 or
call Crime Stoppers anony-
mously on 328-TIPS (8477).

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PAGE 6, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



Police investigation after baby dies

A BABY was pro-
nounced dead at the Prince
Margaret Hospital this
weekend after police were
called for help.

The infant was reported
as being unresponsive at
around 10.30am on Satur-
day and taken to hospital
by Emergency Medical Ser-

vices. The infant was pro-

nounced dead at the hospi- the death.

MAN FOUND FLOATING IN LUCAYA CANAL IDENTIFIED :

FREEPORT - The man discovered floating in a Lucaya canal }
has been identified as 59-year-old Antonio “Spiderman” Fer- }
nandez. Fernandez’s body was found shortly after 9am on Thurs- }
day at the rear of the Bell Channel Hotel. There was no visible }
trauma to the body. Police are awaiting the reports of an autop- }
sy to determine the cause of death. ;

tal. Police are investigating i

FROM page three

allowed to transfer my phone
line when they gave up the
lease on my property. They
have also not been able to sat-
isfy me with what has hap-
pened to my security deposit.
The prices are too high, the
service is poor and I think we
need to up grade.”

Among those who opposed
the decision one person com-
mented, “I agree that staff
numbers need to be reduced
and employees simply more
efficient to cut operation
costs. However, if it must be
sold, it should be sold to
Bahamians with the capital
and vision to further advance
the company with the latest

Constituency poll shows many
support proposed BTC sale

technologies available in
phone and Internet services.”
Another stated, “Batelco
belongs to the people of the
Bahamas and should not be
sold. Bahamians should own
and run Batelco.” “I feel that
it was a very bad decision
because they sold such a great
portion of the company for
such little money BTC makes
a lot of money just in one
year. In two years time BTC
would have already made
over that amount so it really
made no sense selling for so
little,” another person com-

mented. Among those who
were undecided, one stated,
“Notwithstanding that the
sale is inevitable and probably
necessary. I'm curious to
know what criteria was laid
out to qualify as a purchaser.
Does C&W meet the criteria,
if they do and other compa-
nies also did, what were the
track records of the other
companies when compared to
C&W? Why must we sell 51
per cent as opposed to 49 per
cent. Why not consider a
group of Bahamians as
opposed to foreigners?”

Cable and Wireless wins award

FROM page three

$4,660 million to Panama’s economy since pri-
vatising the state-owned telecommunications
company INTEL in May 1997, and plans a
similar privatisation process for BTC next
year.

A statement released by CWP yesterday
maintains: “CWP’s business has been on a
journey from being a state-owned monopoly
(like BTC) to what is now a competitive, cus-

tomer-focused, but socially-conscious organi-
sation, that has been ranked by surveys one of
the most admired company in Panama.

“When reviewing its corporate actions,
CWP is proud to be among the largest corpo-
rate contributors to Panama’s education,
sports, culture, poverty.

“CWP is also strongly committed to sup-
porting the individual development of its
employees. CWP’s greatest assets are its peo-
ple and the company is committed to providing
excellent working conditions.”

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THE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 7

Crime prevention seminar held
for staff of robbery-hit chain



Event held under

theme: ‘HINTS - J Don t Just
Having Information think about it.
Needed to Beautity
Target Suspects’ your home

EMPLOYEES at one of
the largest self-service
laundromat chains, which
suffered a spate of armed
robberies last month,
attended a two-day crime
prevention seminar to pro-
tect against armed rob-
beries and fraud.

The police seminar lec-
tured 48 SuperWash
employees, along with
president Dionisio
D'Aguilar, under the
theme “HINTS - Having
Information Needed to
Target Suspects.”

Superintendent Wayne
Miller of the Central Divi-
sion explained the semi-
nar was part of a new ini-
tiative that sought to tar-
get repeat victims in the
business sector and imple-
ment crime prevention
partnerships.

Mr Miller said: “I'm
happy that we were able
to specifically target this
group of individuals, most
of whom would have



AN | 8

SEMINAR: Presenter Sgt Chrislyn Skippings speaks to those in

attendance.

dent of the Bahamas
Chamber of Commerce —
highlighted the need for
Strategies that would
reduce the volume of cash
businesses in the Bahamas,
which he felt would signif-
icantly reduce violent
crime.

Presenter Chrislyn
Skippings, police press
liaison, said: “It was a

good turn out, a group of
enthusiastic young people
who were grateful for the
knowledge and also
empowered by the infor-
mation.”

Individual seminars like
the one held last week, are
expected to continue with
the police targeting group-
ings that have been fre-
quent repeat victims.



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already witnessed armed
robberies first hand.

“It was good to be able
to meet with them, hold

Scripture Thought
il Hien ts eed Luke Chpt. 12: 29-34

Victory can only be had 29 “And do not seek what you should eat or what you
through a team effort, the should drink, nor have an anxious mind.

For CHILD,
HUSBAND, WIFE
BOSS,







community and police 30 For all these things the nations of the world seek after,

partnership, and that’s and your Father knows that you need these things. SECRETARY.
what we want to get out 31 But seek the kingdom of God, and all these things[a] J
there. We need the help of shall be added to you.

everybody.” . 32 “Do not fear, little flock, for it is your Father’s good
Hosted at the Police pleasure to give you the kingdom.

Training College on 33 Sell what you have and give alms; provide yourselves

Wednesday and Thursday, money bags which do not grow old, a treasure in the

SuperWash employees heavens that does not fail, where no thief approaches nor

also reccived information | goth destoys
On Pree oe 34 For where your treasure is, there your heart will be
for a criminal sketch.

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Blue Hill Road and
Robinson Road/Minnie
Street premises were each
attacked once.

During an interview
with Tribune Business, Mr
D' Aguilar — former presi-

TEEN KILLED
AFTER TRUCK
OVERTURNS

A TEENAGER was
killed in Exuma on Friday
when the truck he was dri-
ving overturned on the
Queen’s Highway in
George Town at about
3.15am.

Traffic police went
from Nassau to Great
Exuma on Friday to assist
investigations into the
crash.

Meanwhile Family
Island police in Ragged
Island continue to search
for three men who disap-
peared at sea on Tuesday
night and the diver who
was lost while looking for

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PAGE 8, MONDAY, DECEMBER 13, 2010

THE TRIBUNE





Revitalise the ACP fora

By SIR RONALD
SANDERS

(The writer is a
Consultant and former
Caribbean diplomat)

ON December 2, the gov-
ernment of the People’s
Republic of China posted on
its Foreign Ministry’s web-
site a response to a com-



insigh

mentary I had written enti-
tled, “Chinese take-away?”
The fact that the govern-

ment felt it necessary to post
its response on its official
website is indicative of the



sensitivity to the issues that
were raised in the commen-

tary.

Among the issues was the
need for a treaty to be nego-
tiated that would set out the
relationship between
Caribbean Community and
Common Market (CARI-
COM) countries and China
on a long term and pre-
dictable basis with regard to
aid, trade and investment.

It was envisaged that the
treaty would deal with issues
such as the paramountcy of

—~,

The

local laws in relation to the
use of labour and industrial
relations among other things.

In its response, the Chi-
nese government said that it
agreed with me “in the
necessity of China and the
CARICOM countries deep-
ening their ties of friendship
and cooperation via a long-
term and comprehensive
framework treaty or the
like.”

Therefore, there is clearly
an appetite in the govern-
ment of China for a binding
treaty, and one which
Caribbean governments
would do well to advance
while the interest remains.

In an earlier commentary
than the one to which the
Chinese government specifi-
cally responded, I had float-
ed the notion that such a
treaty could be structured
along the lines of the original
aid, trade and investment
agreements (Lomé and
Cotonou) that were negoti-
ated with the European
Union (EU) jointly by the
79 African, Caribbean and
Pacific (ACP) Group.

Given that China is now
very active in all three ACP
regions and that many coun-
tries in each of them are
being exercised over how
best to manage the China

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relationship, it may indeed
be appropriate for the ACP
to negotiate the overall
treaty that would govern the
relationship with China.

Separate protocols to the
overarching treaty could
cater for the specific circum-
stances of smaller nations.

The urgency of attending
to China’s relationship with
developing countries and
particularly small island
states is highlighted in a
recent report by the Inter-
American Development
Bank entitled: “Ten years
after take-off: Taking stock
of the China-Latin America
and the Caribbean Econom-
ic Relations.” More about
the economic relations
between Latin America and
China than the economic
relations between China and
the Caribbean, the report
shows that trade between
China and Latin America in
the period 2000-2008, “grew
at a breakneck annual rate
of 31 percent, and even dur-
ing the financial crisis in 2009
the dynamism remained
unabated.”

As the report states: “Hid-
den behind the impressive
bilateral trade figures of the
last decade, there is a heavi-
ly skewed distribution of
benefits.

“As of 2008, approximate-
ly 90 per cent of LAC’s
exports to China were com-
ing from just four countries
in the Southern Cone: Brazil
(41 per cent), Chile (23.1 per
cent), Argentina (15.9 per
cent) and Peru (9.3 per
cent)”. Caribbean countries
hardly featured as exporters,
and their balance of trade
remains heavily in China’s
favour.

The report also points out
that “China-LAC relation-
ship in the last decade has
stood almost entirely on one
pillar: trade.

“The other pillars of a sus-
tainable process of trade and
integration—bilateral invest-
ment and cooperation—have
been developing, but not at

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THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 9



Chinese deal

the same pace, leaving room
for frictions.”

Chinese Foreign Direct
Investment (FDI) is also
heavily concentrated in the
Southern Cone, with Brazil
(41 per cent), Argentina (11
per cent), Peru (12 per cent)
and Chile (2 per cent)
accounting for 66 per cent
of the investment in
2003-2009. When Venezuela
is added to this group, the
combined share reaches 81
per cent.

The only two CARICOM
countries, mentioned in the
report, Guyana and Suri-
name received US$600,000
and US$24 million respec-
tively over the years 2003-
2009 in Chinese FDI.

All this suggests that
CARICOM countries are not
aggressively pursuing eco-
nomic relations with China
in a structured fashion. Each
country that has diplomatic
relations with China appears
to be pursuing ad-hoc, beg-
gar-thy-neighbour policies.
But with far fewer resources
of interest to China, CARI-
COM countries (except
Guyana, Suriname and
Jamaica which do have
resources in which China has
an interest), CARICOM
nations ought to be trying to
establish investment and
cooperation agreements with
China that go beyond trade
in goods.

Such a negotiation would
not be easy for the CARI-
COM region alone, as it
would not be for the Pacific
and certain countries in
Africa, although it has to be
acknowledged that several
African countries have over-
hauled their trading regimes
to make themselves far more
competitive than they used
to be.

In this connection, the
ACP Group with an existing
Secretariat and experience of
harmonising the needs and
negotiating strategies of its
member states would be the
ideal vehicle to negotiate an
overall trade, aid and invest-

ment treaty with China.

The basis for doing so is
already enshrined in the
Georgetown Agreement
signed on 6 June 1975 in
Guyana that formally estab-
lished the ACP Group.

In the preamble to the
Agreement, the governments
of the Group declared that
they are “desirous of enhanc-
ing the political identity of
the ACP Group to enable
them to act and speak with a
single voice in all interna-
tional fora and organisa-
tions,” and they set out
among their objectives
strengthening “the political
identity of the ACP Group
to enable it to act as a coher-
ent political force in interna-
tional bodies and to ensure
that due regard is accorded
its specific interests” and to
“establish contacts and rela-
tions with other States and
groups of States.”

In a world of fierce com-
petition in economic rela-
tions, and where, increasing-
ly, small states have to seek
alliances with others to
secure the attention they

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urgently need, the time has
come not only to strengthen
cohesion in the ACP Group
in its dealing with the EU,
but also to invoke its wider
mandate to bargain for its
member states as a whole in
other economic relations.
China would be the right
place to start now.

In the past, Caribbean
countries have been key
players in the formulation of
ACP ideas and strategies
that have benefitted all three
regions.

This could be another such
opportunity.

Which CARICOM gov-
ernment will hoist the ban-
ner?

Jamaica as the current
Chairman of CARICOM or
Trinidad and Tobago as the
current Chairman of the
Commonwealth that
embraces many of the ACP
countries should make bold
and do so.

Responses and previous
commentaries at:
www.sirronaldsanders.com

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THE TRIBUNE

LOCAL NEWS

‘Contact Zone’ puts Bahamian
filmmaker in the spotlight

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BAHAMIAN filmmaker
Gustavius Smith’s short film
“Contact Zone” won the
2010 Bahamas International
Film Festival Short Film
Award at the festival's clos-
ing night ceremony at the
Atlantis Resorts and Casino.

Mr Smith was the recipi-
ent of BIFF’s Filmmaker
Residency Award in 2007 for
his screenplay “Built for
Load.” The story featured a
young Bahamian man who
runs a load of cocaine to pay
for his mother's life saving
operation.

Since being recognised by
BIFF in 2007, Mr Smith has
spent time perfecting his
craft.

“Long after the money
was gone I still had the con-
fidence I gained from win-
ning the residency award. I
dedicated myself to becom-
ing a better writer and find-
ing my directing voice. The
production value, the acting
and the script in my latest
short demonstrates that I
have what it takes to pro-
duce a theatrical feature at
the highest level,” said Mr
Smith.

“The genius of my desire
to make films started right
here at The Tribune, writing
news about Bahamians. With
my college background in
theatre, the rigors of writing
news stories on a daily basis
really prepared me for this
career,” he said.

“Contact Zone,” the film
winning BIFF’s most coveted
short film prize, is the story
of a janitor and curator who
have a one night stand dur-
ing the opening reception at
an art gallery in New York
City.

Even though they are co-
workers the curator doesn't
recognize the janitor until
the following morning at
work. To get him fired, she
claims her purse was stolen
but the janitor is also arrest-
ed and deported.

Gener

The short film category
was the most competitive at
the festival with over 39
international and local films.
The judges said that “Con-
tact Zone” introduces a new
dialogue about race from
both sides.

The film was shot in New
York City with professional
actors and crew with a bud-
get of over $50,000 and since
starting its festival run this
summer has received the
Best Narrative Short Award
at the Williamsburg Interna-
tional Film Festival in
Brooklyn, NY, and an Hon-
ourable Mention at the Mon-
treal International Film Fes-
tival.

“Contact Zone” is the first
sequence of a feature film
Smith hopes to go into pro-
duction this summer entitled
“Heading North.” He is cur-
rently looking for investors
to fund the film’s million dol-
lar budget.

The main character in his
short film will become one
of the main co-characters in
the feature film. The cast is
expected to feature local and
international actors, with
filming locations in Haiti, the
Bahamas and West Palm
Beach.

“Heading North” is the
story of Valerie, a Haitian
teenage girl, who risks her
life to reunite with her moth-
er. After leaving Haiti on a
boat bound for Miami,
Valerie finds herself on a
treacherous journey — stuck
in a human trafficking ring
in The Bahamas.

“It's a gripping narrative
of determination and family
bonds where human traf-
fickers prey on the hopes of
migrants. While untold num-
bers of islanders perish on
these hope journeys north,
Valerie's story gives us a
window to the world of mod-
ern day slavery and an ambi-
tious story of survival,” said
Mr Smith.

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


THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 11

LOCAL NEWS

By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net

FREEPORT - Police in the
Eight Mile Rock Division con-
ducted its final walkabout in
that settlement, distributing fly-
ers with safety tips to residents
and business owners in the
Hanna Hill and Bartlett Hill
areas.

Supt Christopher Pickstock,
officer in charge of the Eight
Mile Rock Division was
accompanied by ASP Loretta
Mackey, Corporal Christina

King, and officials from Road
Traffic officials, and Urban
Renewal.

In view of the number of
housebreakings and armed
robberies on the island, Ms
Mackey said it is important
that persons are vigilant, espe-
cially during the Christmas hol-
iday.

She said business persons
should make frequent deposits.
“Individuals should not have
large sums of cash on them,
and when making deposits
they should not take the same
route daily,” she added.



ASP Mackey said if persons
suspect that they are being fol-
lowed they should drive to the
nearest police station for assis-
tance or to a gas station.

She said residents should
take measures to secure their
property, and personal items,
such as jewellery, cellular
phones, laptop computers,
from criminals.

Ms Mackey said criminals
also target persons at stores,
ATM machines, and banks.

“Residents should be very
aware of their surroundings,”
she said.

















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Real Estate: More or less!

By MIKE LIGHTBOURN 100% Leather

their home and this exemplifies the
concept of time pressure. The hus-
band was offered a promotion back
in Nassau.

They were anxious to move to
take advantage of the better offer
and they needed to sell the home to
buy one in Nassau. They weighed a
higher selling price for their home
against a fast move to the new job.
The new job won out, resulting in a
lower than fair market value sale
price.

Keep in mind that even when the
final sale price of real estate is high-
er or lower than “fair market val-
ue,” both buyer and seller may experience
complete satisfaction with the transaction.

A RESTAURANT in the east
paid 50 per cent more than “fair
market value” for land adjoining
its existing property which it need-
ed for parking. In another trans-
action, a couple in an Out Island
agreed to accept $50,000 less than
“fair market value” for their mod-
estly priced home.

Once “fair market value” is
established on real estate, other
factors such as availability and
time pressure may influence the
final sales price.

The restaurant wanted additional prop-
erty to use for much needed parking for
patrons. This adjacent property was the only
suitable option.

Thus the adjacent land held more value
for the restaurant because of its location,
and they were willing to pay the extra price.

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THE TRIBUNE



LOCAL NEWS

MONDAY, DECEMBER 13, 2010, PAGE 13



Huge increase in
ounshot victims

FROM page one

Dr Hanna said: “As with
any other EMS department
delays may be experienced
from time to time when all
units are engaged. Our usual
high call volume is further
increased by the rise in vio-
lent crime presently occurring
in New Providence.”

The first shooting on Fri-
day was reported at Eneas
Street off Poinciana Drive. A
man was said to have received
multiple gunshot injuries after
he was approached by anoth-
er man with a dreadlocks
hairstyle, who was armed with
a firearm.

The second shooting took
place at Hutchinson Street
where a man was shot in his
right leg. The victim was

approached by three men in a
silver coloured Honda, one of
whom got out of the vehicle
armed with a handgun and
started shooting in his direc-
tion.

In November, the police
were said to have recovered
more than 270 illegal weapons
and more than 6,000 rounds
of ammunition.

Last Thursday, the fatal
shooting of Charles Minns,
34, at Farrington Road
pushed the homicide count to
92.

The country’s former homi-
cide record of 87 was broken
late last month for the second
consecutive year.

In face of these challenges,
the department was said to be
actively pursuing a number of
initiatives, among them the
purchase of five new ambu-

lances which are expected to
arrive by March of next year.

Dr Hanna added: “We
have as an ongoing initiative
to procure equipment and
supplies for the department
that will enable us to better
serve the public.

“The PHA is in the process
of ordering additional equip-
ment such as heart monitors,
stretchers and supplies for
oxygen administration.”

In partnership with the

Wrap u

Miami-based Jackson Memo-
rial Trauma Centre, the
department is also working to
incorporate telemedicine by
mid-2011.

The technology, which will
feature camera monitoring on
ambulances, is expected to
improve medical services
available to emergency
patients en route to the hos-
pital by allowing viewing for
physicians in the Accident
and Emergency Department.

REVOLUNTIONARY
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Is not going anywhere, Will not be erased or disappear.
We will continue to serve. Others must learn to co-

exist or they go away, very clear on that. NOTHING

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Cease, Desist and Respect Civil Liberty. Others must
know better or ought to know better.

Happy New Year!

Tel: 676-3591 / Fax: 676-3630
“Original Pioneer”



te the Aolidays with us!

{

TAN |g
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Paramedics accused
of extorting tourists

return to work
FROM page one

Dr Alvery Hanna, NEMS director said: “The PHA’s
disciplinary committee has found insufficient evidence
to warrant dismissal of these staff members and they
have returned to work.”

Meanwhile, the department plans to roll out a series of
initiatives next year that they feel will decrease current
challenges to care provided.

In an effort to circumvent delays in customer service
and other issues that may affect emergency response
times, the position of Shift Supervisor will be intro-
duced.

Dr Hanna said: “The presence of shift supervisors will
enhance the monitoring of all activities of NEMS witha
view to addressing any challenges that may arise, partic-
ularly those that may result in delays and those that
relate to customer service.”

In addition to five new vehicles, the department is
also working to incorporate telemedicine by mid-2011
through a partnership with the Miami-based Jackson
Memorial Trauma Centre.

The technology, which will feature camera monitoring
on ambulances, is expected to improve medical services
available to emergency patients on their way to the hos-
pital by allowing viewing for physicians in the Accident
and Emergency Department.

Dr Hanna added: “In our efforts to decentralize the
EMS in New Providence and improve our response time
to the out-lying regions of the island, we have undertak-
en in association with the Nassau Airport Development
company to have an ambulance dispatched from the
Lynden Pindling International Airport during regular
working hours.”



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PAGE 14, MONDAY, DECEMBER 13, 2010 THE TRIBUNE



LOCAL NEWS



Seatbelt law comes Unions ‘are not
today

hacking down’

into effect

FROM page one

However, when the PLP
took office in 2007 an
attempt was made to
amend the Act to lessen
the fines for offenders.
The proposed amend-
ments never became law
under the PLP. The 2002
Act, which is the law, will
now be strictly enforced.
Section 42 of the Road
Traffic Act, chapter 220,
provides that any person
driving a motor vehicle
must be secured by a seat
belt and must ensure that
any passengers in their car
are similarly secured.
Children under five
must be in child safety
seats and secured in the
car's back passenger seats.
Any driver of a motor
vehicle who drives with-
out a seat belt or allows a

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passenger in such a vehi-
cle to ride without a seat
belt commits an offence
and is liable on summary
conviction to a fine of
$300.

A passenger who rides
in a vehicle without a seat
belt commits an offence
and is liable on summary
conviction to a fine of
$100.

Any person found dri-
ving a motor vehicle at the
time of breach, who per-
mits a child to ride with-
out a seat belt or secured
in a child seat will be
liable upon conviction to a
fine of $500 under the
Act.

These provisions will
not apply to motorcycles,
tractors, buses and trucks,
except for the driver's seat
and the person sitting in
the front passenger’s seat.

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- over BIC sale

FROM page one

million plus taxes.

“We are not going to back up from this. We are going to do
all that is necessary. The government is supposed to listen to the
voice of the people,” Mr Evans said. Last week during a mass
rally at the end of two days of industrial action by hundreds of
BTC workers, union executives threatened to disrupt work at
all government corporations and companies across the country
if control over BTC does not remain in the hands of Bahami-
ans.

“Nothing is off the table,” Mr Evans said in reference to the
threat. Mr Evans said union executives have not met with
C&WC CEO David Shaw and do not want to do so. Mr Shaw
last week denied claims that the government is selling BTC in
a "fire sale," claiming that the $210 million price tag is just.

“This company (CWC) has that much of a bad track record.
Their track record speaks for itself. We have asked the gov-
ernment to show us where they have changed,” Mr Evans
said. BCPOU executives are expected to appear in court on
Tuesday in relation to what the government called an “illegal
work” stoppage.

“They have no grounds to stand on,” said Mr Evans. “No
court injunction is going to stop this momentum. We feel good
about this,” Mr Evans said. Last week, in an attempt to avert
further industrial action BTC executives secured an injunc-
tion from the Supreme Court, forcing hundreds of disgrun-
tled employees back to work.

Christie: government has
shortchanged public over
proposed BIC sale

FROM page one

process, completed a process
and agreed to sell 49 per
cent for $260 million . This
government has decided to
sell 51 per cent for $210 mil-
lion and we thought they
had short changed the
Bahamian public.” The pre-
vious PLP administration
came close to a $260 million
sale of 49 per cent of BTC to
Bluewater Ventures Limit-
ed.

Mr Christie said that it
had always been the inten-
tion of his administration for
the Bahamian people to
retain ownership of BTC.
“We were not going to put
the country in a risky posi-
tion where we put Cable and
Wireless as a 51 per cent
shareholder and find out
that that was a bad mistake
and we had to get ourselves
out of it and that is the prob-
lem with this decision mov-
ing forward. “So from our
point of view we would have
been getting the benefits of
privatization. We were also
doing it on the basis that we
were going to have a
Bahamian led enterprise
whose intention it was to
move from the Bahamas
and if possible go into Haiti,
Cuba and go to the rest of
the Caribbean, leaving the
Bahamas as a dominant
place for this particular com-
pany,” Mr Christie said.

Mr Christie further
explained, “We inherited
the bidding process of the

FNM government in 2002.
We allowed that to continue
to an end where we rejected
a price from the winning
company that was recom-
mended by the consultants
the FNM government had
hired. They recommended
that we accept $140 million,
we rejected that. We were
committed ourselves to pri-
vatization and selling 49 per
cent. We then re-appointed
the privatization committee
which included both unions
of Batelco and headed by
the financial secretary. We
had a number of foreign
experts to advise my gov-
ernment. We went with a
very transparent process.
We discussed with all the
companies interested. Ulti-
mately we were advised to
negotiate with a company
called Bluewater,” Mr
Christie said.

The government agreed
to pay Bluewater $1.9 mil-
lion to settle an arbitration
claim which alleged that the
current Free National
Movement administration
violated the proposed deal
the investment company
reached with the last Pro-
gressive Liberal Party
administration to buy 49 per
cent of BTC. The Ingraham
administration in defense of
its decision in relation to
Bluewater has stated that
the company was foreign
entity with no experience in
the telecommunications sec-
tor.

¢ SEE PAGE FIVE

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THE TRIBUNE



MONDAY, DECEMBER 13, 2010, PAGE 15
LOCAL NEWS



Former trade unionist
hits out at ‘premature’
BTC industrial action

FROM page one

Union.

"Speaking from my (expe-
rience) as a trade unionist I
don't think that was the right
action to take, it’s premature
because there is no final
agreement at this time (over
BTC's sale)," said Mr Dou-
glas, who stressed that he was
trying to help the unions
involved, not lambaste them.

"The union leaders must be
very careful because I have
had this experience where
one of our executives went
and pulled employees (off the
job) out in Grand Bahama
and the (company's) lawyer
went to court and sued the
union for revenue they lost
for that action," he added.

He explained that union
executives should have polled
its members for a strike vote
and had a cooling off period
before industrial action could
begin.

"You can't just go on the
streets and take things in your
hands before you know
what's going on. It's not a
criticism, it is trying to help.
The law is clear — it says
before you can take any strike
action, legally you have to go
through the conciliatory
process, take a strike vote and
take a cooling off period. You
can't speak for your union
until you get that vote from
membership.

Encouraging employees to
illegally walk off the job will
create "anarchy in this soci-
ety. Everyone will think you
can just come and go how you
like," Mr Douglas added.

Meantime employees of
BTC - which has been
dogged with complaints of
poor service, jammed net-
works and overbilling —
should focus on productivity
and customer service instead
of walking off their jobs dur-
ing this period of high unem-
ployment, he said.

"Many citizens of this coun-
try do not agree with that
(industrial action), I live in
Freeport, and if you walk the
streets people are upset.
Don't play with your job, give
the best service that you can
to the consumers in times
likes these when people are
praying for a job."

Last Tuesday and Wednes-
day hundreds of BTC
employees did not work, stag-
ing marches and motorcades
in protest of the conditions of
sale of the telecommunica-
tions company. Instead of
organising more protests the
unions should accept Cable
& Wireless' invitation to sit
down and discuss how to pro-
tect BTC employees, Mr
Douglas said.

"Every union has an indus-

trial agreement and it sets out
the relationship with employ-
ees and I'm sure the union of
BTC is not any different. It
must have a clause in it which
speaks of change of owner-
ship.
"If the CEO of Cable &
Wireless says 'Come meet
with me’ that means the fella
has good intentions."

Mr Douglas, who has more
than 40 years experience as a
trade unionist, added that he
is satisfied that the Cable &
Wireless deal is a good one
for the country.

"T have all confidence in
the present prime minister
that he will not do anything to
hurt the Bahamian people. I
don't know why people
believe that they are more
Bahamian than certain peo-
ple and no one is more
Bahamian than Mr Ingraham,
he was like me going to
school with nothing to eat,
some of our people who talk-
ing never know a hard day in
this country. I have all confi-
dence in Mr Ingraham that he
will do the best for the
Bahamian people,” Mr Dou-
glas said.

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PAGE 16, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



INTERNATIONAL NEWS

Swedes shocked by nation’s first

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STOCKHOLM

NO ONE died except the sus-
pected bomber, but two explo-
sions in Sweden's capital tore at
the fabric of this tolerant and
open nation — a society that
hadn't seen a terrorist attack in
more than three decades,
according to Associated Press.

Two people were wounded in
central Stockholm on Saturday
in what appeared to be the first
suicide bombing in the history of
Sweden, which has been spared
the major terrorist strikes seen
in several other European coun-
tries.

Acar exploded in the middle
of the seasonal shopping fren-
zy, shooting flames and causing
several smaller blasts as people
ran screaming from the scene.
The blast that killed the alleged
bomber came moments later
further a few blocks away on a
busy pedestrian street.

Experts said the alleged
bomber probably didn't succeed
in detonating all the explosives
and could have caused much
greater damage.

While police haven't con-
firmed that Saturday's attack
was motivated by Islamist views,
an audio file sent to Swedish
news agency TT shortly before
the blast referred to jihad, Swe-
den's military presence in
Afghanistan and a cartoon by a
Swedish artist that depicted the
Prophet Muhammad as a dog,
enraging the Muslim world.

It hasn't been verified that the
speaker is the person who set
off the explosive, but police have
said they are investigating that
possibility.

"Now the Islamic state has
been created. We now exist here
in Europe and in Sweden. We
are a reality,” the voice said in
the file, submitted to The Asso-
ciated Press by TT. "I don't
want to say more about this.
Our actions will speak for them-
selves."

Swedish Prime Minister
Fredrik Reinfeldt said Sunday
the attack was "unacceptable"
but urged Swedes not to jump to
"premature conclusions" that
"create tension which paints pic-
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busy shopping area in central Stockholm on Saturday, injuring two
people and leaving one person dead, rescue officials said. (AP)

"Sweden is an open society ...
which has stated a wish that peo-
ple should be able to have dif-
ferent backgrounds, believe in
different gods ... and live side
by side in our open society,"
Reinfeldt said at a news confer-
ence.

Swedes, with a tradition of
welcoming immigrants and a
culture of transparency, began
questioning the veracity of their
self-image as a secure nation
after the 1986 murder of Prime
Minister Olof Palme. In 2003,
the fatal stabbing of Foreign
Minister Anna Lindh in an
department store was another
wake-up call.

But there have been no major
terrorist strikes.

"We had a terrorist attack in
the 1970s from the Rote Armee
Friktion of Germany, but if this
is a suicide bomber it is the first
time in Sweden," security police
spokesman Anders Thornberg
told The Associated Press. "It's
very serious and it's very tragic
that these things have come to
Sweden too.”

On Sunday, the pedestrian
district where the explosions
occurred was eerily quiet and
empty for a mid-December
weekend.

"We're used to seeing things
like this on the news. This was a
lot closer to home but it still
doesn't feel very tangible," said
Eric Osterman, a 26-year-old
student.

German tourist Melanie
Ziethmann, 34, said she heard
the bang of the explosion Sat-
urday but didn't realize what it
was until a friend in Germany
contacted her to make sure she



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

was OK.

"We were surprised that this
happened in Sweden," Zieth-
mann said. "It was quite shock-
ing. I thought it was very safe
here.”

In October, Sweden raised its
terror threat alert level from low
to elevated because of what
police called “a shift in activi-
ties" among Swedish-based
groups that could be plotting
attacks.

Days later, police made sev-
eral arrests in an alleged bomb
plot in the country's second-
largest city, Goteborg. The sus-
pects were later released and
police said the city was no longer
deemed under threat.

Magnus Norell, a terrorism
expert at the Swedish Defense
Research Agency, said it was
just a matter of time before Swe-
den was hit by a terrorist attack.

"Sweden isn't an isolated
island, even if we might think
that sometimes," he said. "We
have only been lucky so far."

Norell said Sweden has the
same growing radicalization
among Islamic groups as other
countries, with young men trav-
eling to training camps in coun-
tries such as Somalia and Pak-
istan.

"The whole idea is that this is
a global war for them and that
the target exists everywhere, all
over the world," he said.

The 2007 drawing of the
Prophet Muhammad by Lars
Vilks has raised tensions before
in Sweden. In May, Vilks was
assaulted while giving a speech
in Uppsala, and vandals unsuc-
cessfully tried to burn down his
home in southern Sweden.


THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 17



INTERNATIONAL NEWS

Documents: US aimed to

counter C

CARACAS, Venezuela

US. DIPLOMATS discussed
efforts to counter Venezuelan
President Hugo Chavez's influ-
ence in Latin America and tried
to dissuade Russia from ship-
ping anti-aircraft missiles to his
government, according to clas-
sified documents released by
WikiLeaks, according to Asso-
ciated Press.

One secret 2008 document
from the U.S. Embassy in
Colombia said then-Colombian
President Alvaro Uribe urged
the U.S. government “to lead a
public campaign against
Venezuela,” and it said the pres-
idents of countries such as Mex-
ico, Panama and Costa Rica
were "natural leaders to counter
Chavez."

The document, dated Jan. 28,
2008, and posted online Friday,
was one of several leaked in the
past week that discussed efforts
to marginalize Chavez interna-
tionally and prevent arms ship-
ments. The friction between
Washington and its most vocif-
erous opponent in Latin Amer-
ica has been public and notori-
ous, but the newly released mes-
sages reveal glimpses of behind-
the-scenes U.S. diplomatic
efforts against Chavez.

An earlier secret U.S. memo,
from the embassy in Santiago,
Chile, on June 18, 2007, showed
American officials were analyz-
ing “ways the U.S. can counter
Chavez and reassert U.S. lead-
ership in the region." The
embassy document offered a
host of suggestions to Washing-
ton and other U.S. embassies.

"Know the enemy: ... To
effectively counter the threat he
represents, we need to know
better his objectives and how he
intends to pursue them. This
requires better intelligence in
all of our countries” on issues
such as Venezuela's close rela-
tionship with Iran, it said.

The 2007 report, released
Thursday by WikiLeaks, said if
such U.S. efforts are successful,
"we will make quick inroads
into marginalizing Chavez's
influence.” It also said U.S.
diplomats should aim to make
sure "the truth about Chavez —
his hollow vision, his empty
promises, his dangerous inter-
national relationships starting
with Iran ... gets out, always
exercising careful judgment
about where and how we take
on Chavez directly/publicly."

Other newly released docu-
ments suggest American diplo-
mats have been privately
expressing concerns to Russian
officials since at least 2005 about
some of Chavez's multibillion-
dollar arms purchases — which
have included Russian-made
helicopters, warplanes, tanks
and 100,000 assault rifles.

A secret Feb. 14, 2009, memo
from Secretary of State Hillary
Rodham Clinton's office to the
US. Embassy in Moscow said
the American government had
been raising concerns with Russ-
ian officials for four years about
a possible sale of weapons
including shoulder-fired Igla-S
surface-to-air missiles. It said
"Igla-S (SA-24) is ... considered
one of the most lethal portable
air defense systems ever made,"
and that American officials
feared it could end up in the
hands of the leftist guerrillas of
the Revolutionary Armed



= a

VENEZUELAN PRESIDENT:
Hugo Chavez (AP)

Forces of Colombia, or FARC,
due to corruption and alleged
Venezuelan links to the rebels.

"We fear that should these
sophisticated systems fall into
the hands of the FARC, they
could possibly be sold or traded
to drug organizations, including
those in Mexico, which are
actively seeking to acquire pow-
erful and highly sophisticated
weapons for use against gov-
ernment forces," the memo said.

Another leaked communique
dated Aug. 10, 2009, shows that
the U.S. State Department tried
to enlist help from Spain and
Sweden to raise its concerns
with Russia.

It said "Sweden and Spain are
well positioned ... to urge other
EU members, as well as Russia,
to strengthen transparency and
accountability in arms exports
to Venezuela." It included talk-
ing points for the embassies in
Stockholm and Madrid.

It's unclear what results, if
any, those diplomatic efforts
yielded, or what came of the
US. diplomats’ talk of stepping
up efforts to marginalize Chavez
internationally in 2007.

A memo from Clinton's office
on Aug. 6, 2009, said Russian
officials had informed their
American counterparts of the
transfer of 100 Igla-S missiles to
Chavez's military. It said that
Russian officials assured Amer-
ican diplomats that "transfers
from Venezuela to the FARC
cannot take place."

It's unclear how many of the
weapons Chavez has obtained,
but in December 2009 he said
publicly that his military had
obtained thousands of them.

Chavez, a leftist former army
paratroop commander, has
denied aiding the FARC and
has called for an end to the
neighboring country's decades-
long conflict with the rebels. He
has said he is equipping his mil-
itary to defend against any pos-
sible U.S. threat — an idea
American officials have repeat-
edly dismissed.

He has not responded in
detail to the documents divulged
by WikiLeaks but has said that
they show "the immense effort
of the United States ... to try to
isolate the Bolivarian Revolu-
tion and this soldier here."

Chavez, who says he is lead-
ing Venezuela toward socialism,
has crusaded against USS.
"imperialism" while drawing
close to countries such as Iran,
Cuba and Syria.

A secret memo from Clin-
ton's office, dated March 24,
2009, informed the American

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havez, arms deals

embassy in Turkey that
Venezuelan officials were
expecting a shipment of drone
aircraft — "unmanned aerial
vehicles ... and related material
from Iran" — to arrive in a ship-
ment via Turkey.

It was unclear whether that
shipment ever arrived, but the
memo asked diplomats to urge
the Turkish government, a
NATO ally, "to take action
against this shipment.”

The documents released so
far show that American officials
also have been closely analyz-
ing Chavez's political vulnera-
bilities and his standing abroad
— and that some officials of oth-
er countries have shared unflat-
tering assessments.

An October 2009 memo
showed that Mexican President
Felipe Calderon told a US. offi-
cial last year that Latin America
"needs a visible U.S. presence"
to go up against Chavez's grow-
ing influence.

The U.S. Embassy in Madrid
reported on July 21, 2008, that
Spanish diplomat Trinidad
Jimenez — now the country's
foreign minister — described
Chavez as "a brute, but not a
stupid one." Another embassy
report, from Nov. 6, 2007, said
that Jimenez "described Chavez
as being in ‘another world.'"

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PAGE 18, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



INTERNATIONAL NEWS

Climate talks nearing
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CANCUN, Mexico

NEARLY 200 environment
ministers and other delegates
moved late Friday toward
wrapping up an annual U.N.
climate conference with a pack-
age of decisions on modest
steps, including a fund to help
poorer nations cope with glob-
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ciated Press.

In a late-night open session,
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Those two nations, the
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talks, once again, did not take
up proposals for a grand com-
pact mandating deep cuts in
global warming gases.

Underscoring what's at stake
in the long-running climate
talks, NASA reported that the
January-November 2010 global
temperatures were the warmest
in the 131-year record. Its data
indicated the year would likely
end as the warmest on record,
or tied with 2005 as the
warmest.

Bolivia and Cuba criticized
the draft accords, raising the
possibility that one or both
might block consensus agree-
ment. But it remained to be
seen whether their concerns
could be allayed by modifying
the text in further consultations
early Saturday, and whether
they would act to prevent adop-
tion of the decisions.

The cross-cutting interests of
rich and poor nations, tropical
and temperate, oil producers,
desperate islanders and com-
fortable continental powers, all
combined once more to tie up
the annual negotiating session
of environment ministers past
its 6 p.m. Friday scheduled fin-
ish.

After many hours behind
closed doors at a sprawling
beachside resort hotel, leaders
of the negotiating groups sub-
mitted the latest, slimmed-
down versions of the main pro-
posed texts for review.

"We are almost through this
process," Mexican Foreign Sec-

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GREENPEACE ACTIVISTS form the word hope as a question with
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the site of the United Nations Climate Change Conference in Can-
cun, Mexico. (AP)

retary Patricia Espinosa, the
conference president, told del-
egates.

Negotiators earlier reported
progress on the key issue of the
Green Climate Fund, which is
to aid developing nations
obtain clean-energy technolo-
gy for cutting their own green-
house gas emissions and adapt
to potentially damaging climate
change — by shifting agricul-
tural practices, for example, and
building seawalls against the
rise of warming seas.

In the "Copenhagen
Accord" that emerged from last
year's climate summit in the
Danish capital, richer nations
promised $100 billion for such a
fund by 2020.

"There is a consensus that
we set up a climate fund,"
Bangladesh's state minister for
environment, Mohammed
Hasan Mahmud, reported Fri-
day. Details of the fund's over-
sight were left to post-Cancun
negotiations, and the eventual
sources of the financing were
not identified.

A UN. advisory panel had
suggested placing levies of
some kind on the fuel or emis-
sions of airlines and merchant
shipping, but such a proposal
was dropped during the nego-
tiations here.

Mahmud lamented that once
again a hoped-for overarching
pact to slash global emissions
was being deferred at least
another year, to the 2011 con-
ference in Durban, South
Africa.

"I doubt if the Durban (con-
ference) will deliver the
desired level of results if the
negotiations go the way we
have been going through
here," he said.

Bolivian chief negotiator
Pablo Solon was more sharply
critical of the eleventh hour
proposed text: "We have before
us a document of ‘take it or
take it.'"

Other issues that faced
intense last-minute negotiation:

—Setting up a global struc-
ture to make it easier for devel-
oping nations to obtain patent-
ed technology for clean ener-
gy and climate adaptation.

—Pinning down more ele-
ments of a complex, controver-
sial plan to compensate poorer
nations for protecting their cli-
mate-friendly forests.

—Taking voluntary pledges
of emissions controls made
under the Copenhagen Accord
by the U.S., China and other
nations, and "anchoring" them
in a Cancun document, giving
them more formal U.N. status.

—Agreeing on methods for
monitoring and verifying that
developing nations are fulfill-
ing those voluntary pledges.

UN. officials had described
these secondary items as

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"building blocks" to restore
momentum to the U.N. process
after the failure of last year's
climate summit in Copenhagen
to produce a long-anticipated
global emissions-cutting pact.

In the 1992 U.N. climate
treaty, the world's nations
promised to do their best to
rein in carbon dioxide and oth-
er heat-trapping gases emitted
by industry, transportation and
agriculture. In the two decades
since, the annual conferences’
only big advance came in 1997
in Kyoto, Japan, when parties
agreed on modest mandatory
reductions by richer nations.

But the U.S., alone in the
industrial world, rejected the
Kyoto Protocol, complaining it
would hurt its economy and
that such emerging economies
as China and India should have
taken on emissions obligations.

Since then China has
replaced the US. as the world's
biggest emitter, but it has resist-
ed calls that it assume legally
binding commitments — not to
lower its emissions, but to
restrain their growth.

Here at Cancun such issues
came to a head, as Japan and
Russia fought pressure to
acknowledge in a final decision
that they will commit to a sec-
ond period of emissions reduc-
tions under Kyoto, whose cur-
rent targets expire in 2012.

The Japanese complained
that with the rise of China,
India, Brazil and others, the 37
Kyoto industrial nations now
account for only 27 percent of
global greenhouse emissions.
They want a new, legally bind-
ing pact obligating the U'S.,
China and other major emit-
ters.

The upcoming takeover of
the U.S. House of Representa-
tives by the Republicans, many
of whom dismiss strong scien-
tific evidence of human-caused
warming, rules out any carbon-
capping legislation for at least
two years, however.

While the decades-long talks
stumble along, climate change
moves ahead.

The atmosphere's concen-
tration of carbon dioxide now
stands at about 390 parts per
million, up from 280 ppm
before the industrial age. Sci-
entists project average global
temperatures, which rose 0.7
degrees C (1.3 degrees Fahren-
heit) in the 20th century, will
jump by as much as 6.4 degrees
C (11.5 degrees F) by 2100 if
too little is done.

The U.N. Environment Pro-
gram estimates the voluntary
Copenhagen pledges, even if
fulfilled, would go only 60 per-
cent of the way toward keep-
ing the temperature rise below
a dangerous 2 degrees C (3.6
degrees F) above preindustrial
levels.







SO CUT CTR Ta BAA EET ETC Ce Eg
Prince Charles Drive 324-5476 e Cable Beach e 327-8862



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


THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 19



INTERNATIONAL NEWS



NEW YORK

HE WAS never charged in
the case that sent his father to
prison after thousands were
swindled of their life savings, but
for two years, the eldest son of
disgraced financier Bernard
Madoff still bore the toxic bur-
den of a name that meant fraud
to the world, according to Asso-
ciated Press.

On Saturday, the second
anniversary of the day his father
was arrested in the worst invest-
ment fraud in American history,
Mark Madoff, 46, was found
dead in the living room of his
SoHo loft apartment in Man-
hattan. He was hanging from a
black dog leash while his 2-year-
old son slept nearby.

People close to him said he
was despondent over press cov-
erage of his father's case, an
ongoing criminal investigation
of Madoff family members in
the multibillion-dollar scheme
and his struggle to rebuild his
life. The intense scrutiny
approaching the anniversary
"became too much for him," said
a person who had recent con-
tact with him, speaking on con-
dition of anonymity because of
the sensitivity of the case.

Mark Madoff's wife,
Stephanie, sent her stepfather to
the couple's $6 million (euro4.5
million) apartment after he e-
mailed her at Disney World in
Florida, where she was vaca-
tioning with their 4-year-old
daughter. In the messages, he
told her he loved her and that
someone should check on their
2-year-old child, Nicholas, police
said. He left no suicide note.

The person who had recent
contact with Madoff said he was
struggling to find steady employ-
ment and was upset by cover-
age of his father's case, including
a slew of stories in the past week
about investor lawsuits.

"Mark Madoff took his own
life today. This is a terrible and
unnecessary tragedy,” his attor-
ney, Martin Flumenbaum, said
in a written statement. "Mark
was an innocent victim of his
father's monstrous crime who
succumbed to two years of unre-
lenting pressure from false accu-
sations and innuendo.”

Mark Madoff and his brother
Andrew, who notified authori-
ties their father had confessed
to them the day before he was

LA ” ar
7

Madoft's eldest son hangs himself in NYC apartment



MARK MADOFF is shown.

AP Photo/Security
Traders Association of
New York, Kimberly Unger

arrested on Dec. 11, 2008, have
said they were unaware of his
crimes. But they have remained
under investigation and been
named in the multiple civil law-
suits accusing them of profiting
from the scheme.

Another law enforcement
official said Saturday that Mad-
off's arrest was not imminent,
and that investigators pursuing
possible charges against him, his
brother and uncle hadn't con-
tacted him for more than a year.
The official wasn't authorized to
speak publicly about the case
and spoke on condition of
anonymity. A lawyer for Mark's
mother, Ruth Madoff, said,
"She's heartbroken.” The
lawyer, Peter Chavkin, had no
further comment.

Bernard Madoff, 72, swindled
a long list of investors out of bil-
lions of dollars. He admitted that
he ran his scheme for at least
two decades, cheating thousands
of individuals, charities, celebri-
ties and institutional investors.
Losses are estimated at around
$20 billion (eurol15 billion), mak-
ing it the biggest investment
fraud in US. history. He is serv-
ing a 150-year prison term in
North Carolina.

The scandal has resulted in a
half dozen arrests of Madoff
associates and put a harsh light
on members of the family, which
has splintered since Madoff's
arrest. Both brothers hadn't spo-
ken to their parents since they
turned their father in.





































































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GOVERNMENT:
‘MORAL SUASION’
ON PORT TELCOS
LICENCE IMPASSE

By NEIL HARTNELL
Tribune Business
Editor

GRAND BAHAMA
PORT AUTHORITY
(GBPA) officials have
feared for almost a decade
that assigning its rights to
licence/regulate telecom-
munications entities in the
Port area to government
regulatory agencies would
“require us to breach the
Hawksbill Creek Agree-
ment”, with the Ingraham
administration having reit-
erated last year its intent
to use “moral suasion” to
achieve this outcome.

Documents filed with the
Supreme Court in relation
to the dispute between
Cable Bahamas and the
Utilities Regulation &
Competition Authority
(URCA) over the latter’s
efforts to collect Internet
licence fees from the for-
mer based on its Freeport-
derived revenues disclose
the more than decade-long
struggle to reconcile the
Government’s national
telecommunications/com-
munications regulatory
regime with the GBPA’s
rights under the Hawksbill
Creek Agreement.

The Government’s cur-
rent position is set out in
two letters sent late last
year to the GBPA and its
legal advisors by David
Davis, permanent secretary
in the Prime Minister’s
Office, in which he states:
“The Government’s posi-
tion is that there should be
a single regulator for the
electronic communications
sector of the Bahamas.”

Adding that the
Bahamas Telecommunica-
tions Company (BTC)
post-privatisation was
expected to continue oper-
ating in Freeport under the
current licensing regime,
Mr Davis added: “Having

SEE page 4B

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

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THE TRIBUNE

usiness

MONDAY,

DECEMBER :

2010

=f

BREITLING



Cable battling URCA on Freeport internet fees

By NEIL HARTNELL
Tribune Business Editor

CABLE BAHAMAS’ two-year
running battle with regulators over
whether it should pay $78,747 worth of
Internet licensing fees generated by
its Freeport business finally goes to
trial in the Supreme Court early in
the New Year, the issue highlighting
the Grand Bahama Port Authority’s
(GBPA) regulatory regime and fears
that this - plus the Hawksbill Creek
Agreement - could be breached by
the national communications super-
visory infrastructure.

Tribune Business can now expose
the full extent of the dispute between
Cable Bahamas and its affiliate, Cable
Freeport, and the Utilities Regulation
& Competition Authority (URCA),
with documents filed in the Supreme

* Supreme Court to hear Judicial Review matter over alleged
$78k in outstanding fees in January 2011, with BISX-listed firm
alleging regulator acting ‘ultra vires’

* Matter goes to heart of conflict between Grand Bahama Port

Authority regulatory powers and those of government and
national regulators

* Claim URCA demands would ‘contravene’ Hawksbill Creek
Agreement and undermine Port’s alleged right to licence
telecoms operators in Freeport

* Cable says URCA/PUC demands would subject it to double
taxation and have ‘dire economic consequences for the Port area’

Court revealing just how concerned
GBPA officials have been since 1999

Freeport and “require us to breach
the Hawksbill Creek Agreement” (see

that attempts to create a Bahamas-
wide telecoms/communications regu-
latory regime could erode both its
rights to licence this industry in

other story on Page 1B).

The huge bundle of documents
obtained by Tribune Business show
that Cable Bahamas initially filed its

‘Too early to say’ Baal)

tax policy failed

* Minister reacts
after tax revenues
fall 1.4% in 2010-
2011 first quarter



FOCUS ON
aes
ceva

2009

application for Judicial Review of the
then-Public Utilities Commission’s
(PUC) decision to order it to pay all
alleged “outstanding licence fees
together with the interest accrued
thereon on revenue earned..... from
the provision of public Internet ser-
vices within the Port area on Grand
Bahama” on January 14, 2009.

The matter is finally set to go to tri-
al between January 24-28, 2011, in
Freeport before Supreme Court Jus-
tice Hartman Longley, Cable
Bahamas and its Freeport affiliate
having already obtained an almost
two-year injunction to prevent the
PUC and its successor, URCA, from
“imposing sanctions upon [Cable
Bahamas] and from otherwise sus-
pending or revoking the applicant’s

SEE page 5B

COMMUNICATIONS SECTOR
REVENUES UP 3% TO $460M

* Industry bucks 4.3% economic contraction, with
127 out of 149 new licence applications granted in

* New international connectivity provider licensed
* URCA budget for 2011 expands by over 9% to more

despite Budget tax
rises

* Fiscal deficit
expands 11% to
$111.5, while
national debt hits

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

MOMENTUM = to
form a national coalition
of services industries in

than $5m

By NEIL HARTNELL
Tribune Business Editor

THE Bahamian electronic
communications industry bucked
the 4.3 per cent economic con-
traction in 2009 by producing a3
per cent total revenue increase,

from $445 million to $460 mil-
lion, with the sector regulator
granting 127 out of 149 licence
applications received that year.

Unveiling its three-year strat-
egy and annual plan for 2011,

$4.14bn record

By NEIL HARTNELL
Tribune Business Editor

A LEADING government
minister believes it is “too ear-
ly to say” that the Ingraham
administration’s 2010-2011
Budget tax increases have
failed to produce the desired
effect, even though tax rev-
enues for the first quarter of
the fiscal year dropped by 1.4
per cent to $241.3 million, in
comparison to 2009-2010 fig-
ures.

Zhivargo Laing, minister of
state for finance, comment-
ing on the release of data by
the Central Bank of the
Bahamas, told Tribune Busi-



MINISTER OF STATE FOR
FINANCE: Zhivargo Laing

the Government’s fiscal
deficit for the 2010-2011 first
quarter, which represents the
three months to September
30, 2010, widened year-over-
year by $10.8 million or 10.7
per cent to $111.5 million,
while the national debt hit a
new record of $4.139 billion.

Asked whether the 2010-
2011 first quarter figures
showed the Government’s tax

the Bahamas is reviving,
with the expectation that
such a body will play a
key role in enhancing
Bahamian suppliers’ abil-
ity to compete abroad
and lobby on issues such
as foreign trade deals
that affect them.
Winston Rolle, execu-
tive director and former
president of the Bahamas
Chamber of Commerce,
said the move to form
the coalition - which he
had previously pushed
for during his term as
Chamber president - was
inspired in large part by
recognition of a need for
greater unity among ser-
vice industries in the





ness that revenues for the first
quarter of the 2010-2011 fiscal
year could not be taken as a
true reflection of whether the
Government’s Budget tax
increases had worked or not.

Arguing that a more
detailed analysis or break-
down of the Government’s
revenues was required before
any conclusions were drawn,
Mr Laing told Tribune Busi-
ness that Excise Taxes - an
area of the Budget that had
seen significant tax increases,
especially with the changes to
auto industry and liquor duty
structures and rates - had
increased slightly year-over-
year to date.

His comments came as the
Central Bank revealed that

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SEE page 7B

SEE page 5B



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SEE page 8B

ENGINEERS IN MOVE
ON EPA RECOGNITION

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

BAHAMIAN engineers will travel to Jamaica, then to Europe, in
a bid to achieve the recognition necessary to enable them to take their
skills abroad under the terms of the Economic Partnership Agree-
ment (EPA) governing trade with the European Community.

Quintin Knowles, Bahamas Society of Engineers Board, will fly to
Jamaica on December 14 to take part in the "validation meeting" with
other Caribbean engineers, a prelude to a further trip to Europe,
where Bahamian engineers and their Caribbean counterparts are
expected to meet with several European engineering bodies, includ-
ing the European Network for the Accreditation of European Engi-
neers and the European Federation of National Engineering Asso-
ciations, to discuss the terms of a Mutual Recognition Agreement

SEE page 8B

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PAGE 2B, MONDAY, DECEMBER 13, 2010 THE TRIBUNE

EQUITY MARKET - TRADING STATISTICS

Week ending 10.12.10
BISX YTD PRICE
By ROYALFIDELITY EQUITY MARKET see its stock price close SYMBOL CLOSING PRICE WKLY PRICE VOLUME CHANGE
CAPITAL MARKETS A total of 20,900 shares unchanged at $6.85.
TT changed hands, represent- AML... eee Nes 00) opveerevecererecerrrprer © eek iee testers Oe eeeeeetetseaes teresa -13.68%
IT WAS another slow 108 a decrease of 36,400 BOND MARKET — Dace GG eentecectserasetseny: Ab aa seanteneasareoortomsemoesios Orecoescpeaseenessensoeeenzetate -71.43%
week of trading in the Shares a eae the Dre- bao traded during BOB. cnn $A. seececsssscsesseeeees $e ccccssssesenssestenseente Oceessssssessesesetsnteee 16.95%
Bela in etacke waarket vious week's trading volume last week. 5
a of 57,300 shares. BPE. cece $ 10.63 weeeeseceeeeeeereeees De ceeeeeeeeseseseeceeteseeeeeeenee Os ccsseeuceeasesssnesssessenen panes -1.02%
Investors traded in two Commonwealth Bank | COMPANY NEWS BSL veescsssesssneee $ SOL secsscssssssssnsenee Ge ccecessssntsssseteetete O ceecssensestnsestntestee 50.20%
out of the 24 listed securi- (CBL) was the volume Earnings Releases: There — $ 2.70 § 5 ro
ties, with all remaining leader in the week, trading a were no earnings reports sesccscccccesccscccceD Lal ccsccccsccscccccescesccces PETES ESET ITIL TTT S STIS TT TTT TST IS TS CLT TTSSTTSTTITSTTTCS TTT TTT TT TS TT) = . 0
unchanged. volume of 20,700 shares to _ released last week. CAB. eects $ 10.46 oes De vessstssestisacdesstnecsssecsiene 200 oeeeeseceeecseseeseseesseees 4.81%
CBL wees $ O85 ceeececseeeeteeteees ec scapaeateeessseissceageaaanets 20,700 ...eeeeeeeceeseeeeees -2.14%
CHL wees $240 Le eececeseeeeeeteee De ceeeeeeeeseseseeeeeeeeteeeeenee Oeeeeeeseeseteeeceeeseetetees -11.76%
. CIBoi ce eeeeeeeeeeeees BBD ee eceeseesesecseeeees Sh cicasasacetstnrsssissnastsaeazass Oe esce sce cs ecsateeseasstazcaeas -2.50%
Join the Leading Environmental Conservation CWCB eccssessesee $ VSO ceccscssssesssnseee $-0.03 vessssssssssesseeie O seesscstsstetsstetnsnetce 36.84
Organization in The Bahamas 1D): $1.60 vesscssssssssssseeee $e ceccsssstsessssstsnseesie Oveesssssststseseestnsnee 37.25%
; FAM eens $6.07 ceeeeeceeeeeseteteeeeees De ceeceeeeeseseseeeeeeeeeeeeeeenes Oeeccesesescteeeeceseceseseeteeees -6.47%
JOB OPPORTUNITY: PRESERVE ADMINISTRATOR AND) ppp. $ DAT cecsssnssssnssnsene Depend O vesstssssststnssntneete 8.44%
PROGRAMME DIRECTOR FOL sssscssecssseee ee ee O veecssssssssesssseseeseseee 14.47%
LEON LEVY NATIVE PLANT PRESERVE -ELEUTHERA | FCLBWuu. $1.00 ccesssccssseecsssserne Go ccsssscssseeessssesseseene Ovvescsssessssensseensseeesen 0.00%
FIN. eeeeeeeeeeeeeeeee $7.23 eeeesseeseeteteeeees De ceeeceeeseseseeeeetsseeeeeenes Oeeeeeeeseescteseeeeeeseeteeees -22.09%
| Ce) Db pevevereverrevererereyt $ SSD ee eeceeeseeteteeeees Sb eeca cesses cssancnaeseye atm O soeeeasteecsensscsecasecstenscatens 0.00%
JST eee ceeceeeteeeeeeeeee $ QBQ eeeceeeseteeeeteees Mp cscasacaentstsziesananarssaeanens Oss soee ests eesataseeseattantanaes -0.30%
Position Summary: This position is located in Governor's Harbour, Eleuthera. PRE woeeeceeceeeeeee $ 10.00 cece Do wssssescestvvsveavesdssaeesssiees Oa sesctateeeeeneseeseaeteeszenseeers 0.00%
Candidate will be responsible for providing day to day management and
superviskin at Leon Levy Native Plant Preserve (LLNPP), Potential candidates
should have a love tor the Bahamian environment. A strong interest in the
Tatural history ane cultural history of The Bahamas & a pls, BOND MARKET - TRADING STATISTICS
: rien al BISX SYMBOL DESCRIPTION VOLUME PAR VALUE
Primary Kesponsibilities:
si : FBB13 oc eee FBB Series C Notes Due 2013........0.000. Oo epeeses eeeeeseset sss $1,000
General Preserve management duties
Develop all age schoo! curricalum!progmims inchading detated lesson FBB15 .....ee FBB Series D Notes Due 2015... Oooo cceesssesstscadesecssesczsstaccnsss $1,000
plans, teacher workshops, special summer programmes and on site .
sctlyicles: FBB17 «uu... FBB Series A Notes Due 2017... Os speseesesteveaadesseseessseaeeess $1,000
Outreach to lncal and natkinal educational institutions FBB22 oecsssssseeeeeee FBB Series B Notes Due 2022.cccccsssssssesee O veeseessesesssssssssssssssssssssseseeee $1,000
Manage on site programs including Docent programme, special evenis ,
and inter programmes.
Serve 05.0 COmTUnRY linison between Local Govenoment, Ministry of
Tourism, local businesses and other agencies,
INTERNATIONAL MARKETS
Qualification amd Experience:
. a a EOREX Ran INTERNATIONAL STOCK
MS of BS Degree in Enviroamental education, Biology or Botany with MARKET INDEXES
A Miminwum of 5 yORrs' CNperiknce CURRENCY WEEKLY % CHANGE
Demonstrated experience in Program development CAD 0.9909 -0.65
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Proficiency in MS Office suite, . a
Sinong organizational and time managenvent skills DJIA 11,410.32 0.25
Exvellent oral and wrilten communication skills
COMMOVETIES S&P 500 1,240.40 1.28
To apply: Submit cover letter, resume and three references to the Bahama COMMODITY WEEKLY °% CHANGE
National Trust, Aton: Human Resources aacmyssig bot.bs by December 21", Crude Oil 90.55 ° 1.17 NASDAQ 2,637.54 1.78
2010.
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TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
THE TRIBUNE

MONDAY, DECEMBER 13, 2010, PAGE 3B





Private sector is urged to get
involved with Canada trade talks

By ALISON LOWE
Business Reporter
alowe@tribunemedia.net

THE BAHAMIAN private
sector has been urged to seek
greater involvement and input
into negotiations over a new
free trade deal between the
Caribbean and Canada, one
trade specialist noting that par-
ticular attention should be paid
to how financial services is dealt
with in any new agreement.

Matthew Spence, an intellec-
tual property specialist with the
CARICOM Secretariat's Office
of Trade Negotiations (OTN)
and a member of the CARI-
COM college of negotiators for
the CARICOM-Canada Trade
and Development Agreement,
told attendees at a technical
workshop that he "can't stress
enough" how important it is for
the private sector in the
Bahamas to seek knowledge
about - and input into - the dis-
cussions on how trade in goods
and services between Canada
and the Bahamas will be
defined going forward.

His comment come after
Sacha Silva, an economic con-

sultant with the Office of Trade
Negotiations (OTN), told the
same workshop, which took
place at the Sheraton Nassau
Beach Resort, having been
organised in conjunction with
the Bahamas Chamber of Com-
merce, that the Bahamas would
be wise to "keep a close eye on"
negotiations between Canada
and the Caribbean, as well as
the WTO accession process.

Such deals will have "a much
more significant impact on
development" than the EPA
with Europe is likely to, con-
sidering the Bahamas’ relative-
ly small trading relationship
with Europe, contended Mr Sil-
va.

The Bahamas’ trade volume
with Canada is larger, and
Canada has traditionally taken
"harder negotiating stances" in
trade deals struck previously
than Europe has.

Addressing the workshop on
Friday, Mr Spence said: "I think
the experience you’ve had with
the EPA should urge you to get
involved in discussions with
Canada.

“T can’t stress enough how
much the private sector should

get involved in the process. Get
in touch with the Chamber (of
commerce)."

Meanwhile, Allyson Francis,
an investment and services
trade specialist with the OTN,
said that given the sector's
importance to the Bahamas’
economic output, the Govern-
ment and private sector should
be particularly proactive with
regard to the terms of the deal
relating to financial services.

"IT hope you are involved in
the discussion of the financial
services text in the Canada
agreement because the
approach Canada wants is quite
different on financial services
(as opposed to Europe).

“You need to play as active a
role as possible in the negotiat-
ing process, so it is as close as
possible to what you want to
see from a national perspec-
tive," said Ms Francis.

Speaking wtih Tribune Busi-
ness after the workshop, Mrs
Francis said: “In the EPA we
were just looking at regulating
what we had scheduled in the
agreement. With Caricom-
Canada we are looking at regu-
lations of not just what is sched-

uled but how you regulate
financial services within your
state.

"(Canada has) also proposed
a separate chapter to deal with
financial services, unlike what
we have in the EPA. That may
not be of major concern, but I
think we need to appreciate the
content in terms of the depth
of the Canadian requirement
and proposal. It’s more than we
have done with the EPA, and
with some member states its
more than they have done in
other agreements with Cana-
da.”

CARICOM and Canada
opened discussions in 2007 on a
new trade agreement to replace
the non-reciprocal arrangement
that has previously governed
trade in goods between the two
areas.

The Caribbean has up until
now been allowed to export cer-
tain goods to Canada duty free,
while Canada did not have the
same benefit.

According to figures released
in 2009 by the Government of
Canada, Canada’s bilateral mer-
chandise trade with the
Bahamas increased by 90.7 per

Will good news convince Main Street to buy stocks?



NEW YORK

THE fear that kept small investors from
participating in one of the greatest bull mar-
kets in history may be losing its grip, accord-
ing to Associated Press.

The White House reached a tentative deal
with Republican leaders last week to cut tax-
es. Economists are raising their estimates for
economic growth, and jobless claims have
fallen 15 percent from a year ago. The month-
ly trade report released Friday showed surg-
ing demand for American products, and the
University of Michigan's December con-
sumer sentiment index reached its highest
point since June. There's even good news
about two symbols of Wall Street reckless-
ness. The government sold its last stock in Cit-
igroup Inc. on Tuesday and could do the
same soon with its stake in American Inter-
national Group Inc.

The Standard & Poor's 500 index closed at
1,240 Friday, surpassing the level from before
the financial meltdown in September 2008.
And a survey by the American Association of
Individual Investors showed the number of

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in a dynamic market. This is an opportunity to join a winning

people bullish about stocks outnumbering
those bearish by the widest margin in more
than three years.

"There was this widespread expectation
six months ago that we were going to have a
double dip recession," says Steven Bleiberg,
manager of the Legg Mason Lifestyle funds.
"That whole mindset has petered out."

Arnold Espe, the bullish manager of
USAA's Cornerstone Strategy Fund, pre-
dicts investors next year will put more mon-
ey into U.S. stock mutual funds than they
take out for the first time since 2006. Says
Espe: "We're setting up for a pretty good
market."

Trying to guess what individual investors
will do next is difficult, and the optimists
could be dead wrong. There are plenty of
reasons investors might balk at buying U'S.
stocks, not least an unemployment rate of
9.8 percent. But if Espe is right, the market
could rise smartly. Optimism about stocks
can feed on itself. If small investors put back
into the market even a fraction of the tens of
billions that they took out in the past year, it
could set off a virtuous cycle of buying.

One sign that stocks may soon attract mon-
ey: Though investors pulled $500 million
more from U’S. stock mutual funds than they
put in last month, the pace of withdrawals is
slowing, according to fund tracker Strategic
Insight. As recently as September, investors
took out a net $15 billion.

Small investors could turn to stocks soon
because the alternative — bonds — don't
look so safe anymore. For most of the year,
small investors have used the billions they've
withdrawn from stocks to buy bonds. The
thinking was that bonds were safer because
the principal is guaranteed. It's been a good
move. Though the S&P has risen 11 percent
since the beginning of the year, some bonds
have done better. So-called junk bonds from
highly indebted U.S. companies have gained
16 percent and bonds from emerging markets,
14 percent, according to Barclays Capital.

But now doubts about bonds are creeping
in. Fear is rising that an improving economy
will stoke inflation that could eat into bond
returns. Inflation sends bond prices down
sharply because the principal won't buy as
much when returned if prices rise.

team that contributes to the Bank's success and offers good

career potential.

Compliance Officer

Job Duties:

¢ Monitor the Bank’s daily operation to ensure compliance
with relevant regulatory requirements and AML policies
Implement regulatory and Group requirements on compliance
monitoring and AML

cent in 2008 to reach $303.9 mil-
lion. Merchandise exports to the
Bahamas totalled $230.8 mil-
lion in 2008, and included min-
eral fuels and oils, machinery,
preserved food, electrical and
electronic equipment, and phar-
maceutical products.
Merchandise imports from
the Bahamas reached $73.1

million in 2008 and included
organic chemicals, mineral fuel
and oils, fish and seafood, salt,
sulphur, stones and fruits and
nuts.

Through the Royal Bank of
Canada, the Bank of Nova Sco-
tia and others, Canada's trade in
financial services with the
Bahamas is also significant.

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EMPLOYMENT
OPPORTUNITY

Prepare report and statutory returns for submission to Group
Compliance and external regulators
Act as the regulatory and legal liaison for and between the

Bank’s operations in The Bahamas and Hong Kong parent

company

Requirements:

¢ A University Degree in Business Administration, Law or

other relevant qualifications

Minimum of six year’s experience in financial institutions,
preferably in managerial or supervisory role.
Proven working experience in compliance monitoring and
AML, with good knowledge on regulations and related
statutory requirements

Strong self motivation, with good communication and

interpersonal skills

Please send us a full resume, including personal particulars,
employment history, present and expected salary and contact

phone number to

Country Manager
P.O. Box N-3019
Nassau, The Bahamas

Application Deadline: 31 December 2010

Applicants who are not contacted within one month may consider

their applications unsuccessful.

All information provided by applicants will be used strictly in
accordance with the employer's personal data policies. Applicants
may be considered for other suitable positions within the Bank
and its related companies over a one-year period, after which

their personal data will be destroyed.

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

CSR-I (Tellers) Andros and Inagua Branches

Key responsibilities:

e Services the customer by processing cash and non-cash transactions

including: receiving cash, making deposits, foreign currency exchange and

posting payments to loan accounts.

Sells bank products and services to customers.

Balances cash by recording all cash on blotter, tally holdings for each day,

and uncover errors.

Balances cash to the general ledger.

Processes deposits from night bags, quick deposits, and ATM by counting

cash and verifying that the information is correct on the paperwork, and

posting the entries.

Files all paid cheques by sorting, distributing to the relevant persons and

verifying signatures.

Minimum Requirements:

¢ Associates Degree or ABIFS Certificate

¢ Strong analytical skills to audit work performance, troubleshoot

exceptions, and resolve customer problems

Knowledge of regulatory requirements particularly as it relates to

Anti Money Laundering and Know Your Customer
Proficient in Microsoft Office
Ability to work independently

Excellent organization and writing skills

Benefits include: Competitive salary commensurate with experience and

Email:

qualifications and a suite of other benefits including a group medical plan.

Interested persons should apply no later than December 17, 2010 to:

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

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


PAGE 4B, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



IT = 1.) | =<>.—
Government: ‘Moral

suasion’ on Port
telcos licence impasse

As a_ privately-owned, mid-sized Bahamian
Company and the authorized Caterpillar dealer
in the Bahamas, we are seeking candidates for
the position of Field Service Technicians,
and candidate for the position of Electrical
Technician. The individuals must be able to
support Caterpillar Tractors;

Proficient in diagnostic testing Caterpillar 3000,
3100, 3200, 3400, 3500, and 3600 engines.

Proficient in Applied Failure Analysis; Proficiency
in perform load sharing and synchronized in

Generator set; Proficiency in Caterpillar Marine

Engine diagnostics; Proficiency in Caterpillar fuel
injection systems and fuel injection bench test.

Applicants must also have proven experience
in diagnosing, troubleshooting, repairing of
Hydraulics, Engines and Vehicular Electricity.
Computer skills are also required for this position.
Applicants with formal education in mechanics are
preferred.

Send complete resume with education and work
experience to M & E Limited, P- O. Box N-3238,
Nassau Bahamas, Attention: Human Resources

Department, or email: me@me-ltd.com.

Only persons being interviewed for this
position will be contacted.



Colon
Comf

FROM page one

regard for the provisions of
the Hawksbill Creek Agree-
ment, the Government is
minded, using moral suasion,
to seek the cooperation of
your [Port Authority] Board
in agreeing that the URCA
regime might be extended to
Freeport. In this regard, I
herewith formally seek the
concurrence of your Board.”

Such efforts have been
ongoing for more than a
decade, the Government and
GBPA having been locked in
negotiations over the latter
assigning its rights to regu-
late electronic communica-
tions in the Port Area to a
Nassau-based regulator (first
the Public Utilities Commis-
sion, then URCA) since the
Telecommunications Act
came into being in 1999.

The concerns have been
long-standing. A draft Feb-
ruary 14, 2001, letter from Sir
Albert Miller to then-finance
minister, Sir William Allen,
on this issue, warned: “The
proposed draft agreement
first sent to us by the Office
of the Prime Minister places
GBPA in a somewhat unten-
able position.

“To agree to the assign-
ment of our rights, as pro-
posed therein, would require
us to breach the Hawksbill
Creek Agreement.”

Various drafts have been
kicked back and forth, the
most recent, according to an
August 31, 2009, legal opin-
ion prepared by Graham,
Thompson & Co’s Robert
Adams for GBPA president
Ian Rolle, having been a draft
Deed of Assignment sent on
June 18, 2009, by T. B. Don-
aldson, chair of the Govern-
ment-appointed privatisation
committee.

According to Mr Adams,
this draft involved the GBPA
assigning all its rights to
licence and regulate the pro-

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vision of electronic commu-
nications services within the
Port area to URCA for $1.

“GBPA’s rights under the
existing business licences that
have been issued to electron-
ic communications services
providers in the Port area will
be included in the assign-
ment,” Mr Adams wrote.

“For example, all of
GBPA’s rights, including the
right to collect the licence
fees, under its licence agree-
ment with BTC and Cable
Bahamas will also be assigned
to URCA.”

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

“Accordingly, if GBPA is
prepared to give up its rights
to regulate the electronic
communications sector in the
Port area and negotiate
mutually acceptable com-
mercial benefits and terms for
an assignment of such rights
to URCA, it is our recom-

mendation that GBPA
engage in a well-planned,
structured and transparent
process of public consultation
with its existing stakeholders
and licencees prior to enter-
ing into such an assignment
despite the fact that there is
no strict legal obligation on
GBPA to do so.”

A November 5, 2010, affi-
davit by Tyrone Fitzgerald,
the GBPA’s in-house legal
counsel, said of the negotia-
tions between the Govern-
ment and GBPA: “An agree-
ment was never reached with
respect to GBPA’s assign-
ment of such telephonic
telecommunications licensing
rights within the Port area.
Thus GBPA still retains those
rights and exercises the
same.”

Acknowledging the poten-
tial widespread consequences
that the Cable
Bahamas/URCA matter
might have, former GBPA
chairman Hannes Babak, in
an affidavit filed in support
of the Port intervening in the
case, alleged: “This matter
can have serious conse-
quences to GBPA’s ability to
grant licences within the Port
area in respect to the provi-
sion of telephony services and
to collect revenue on the
same.”

NOTICE

WEST WINDS PROPERTY OWNERS
ASSOCIATION LIMITED

Notice is hereby given that the annual gener-
al meeting for the West Winds Property OQwn-

ers Association Limited will be held Thursday
the 16th day of December, A.D., 2010 at 6:30
p.m. At the Pavilion, West Winds Subdivision,

New Providence.

BOARD OF DIRECTORS
WEST WINDS PROPERTY OWNERS
ASSOCIATION LIMITED



COMMONWEALTH OF THE BAHAMAS 00RICLENqui'|439

IN THE SUPREME COURT

Common Law & Equity Side

IN THE MATTER of the Quicting Titles Act

ANTE

IM THE MATTER of the Petition of ELGIN WRIGHT

AND

IN THE MATTER of ALL THAT piece parcel or lot
of land being numbers 27 & 28 containing 0.250 on
An acre situate on Miami Street in the Englerston
Subdivision situate in the Southem District of the
sland of New Providence, Baharnas

COPIES of the said Plan may be inspected during
Normal Office hours at the following places:-

(c) The Registry of the Supreme Court
In the Crty of Nassau on the [sland of

Hew Providence

(id) Collie & Collie Law Chanvbers
K.. 5. Darling Building
Dowderwell Street & School Lane
in the City of Nassau on the Island of New
Providence, The Bahamas

NOTICE is hereby given that any person having
Dower or a right ta Dower or any Adverse Claim
ora Claim not recognized in the Petition shall on

or before the 2nd

day of February, 2011

2010 file in the Supreme Court in the City of Nassau
aforesaid and serve on the Petitvoner a Statement of
claim in the Prescribed form verified by an Affidavit
to be filed therewith. Failure of any swch person to file
and serve a Statement of Claim on or before the 2nd

day of February, 2011
claim,

Elgin Wright

Petitioner

will operate as a bar to such

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

MONDAY, DECEMBER 13, 2010, PAGE 5B



FROM page one

licence” for non-payment of
the licence fees due.

Judith Smith, Cable
Bahamas’ in-house legal
counsel, had alleged in an affi-
davit that the then-PUC had
warned the BISX-listed com-
pany as far back as Decem-
ber 23, 2008, that it could
impose sanctions against it
over the issue. “Such sanc-
tions may include revocation
of [Cable Bahamas] licence,”
she alleged. “The imposition
of sanctions by the PUC is
likely to cause irreparable
damage to the applicant’s
business.”

Justice Longley will have
to rule on Cable Bahamas’
demands for a Supreme Court
declaration that URCA’s
attempts to include Freeport-
derived revenue in the Inter-
net licensing fees due from
the company fall “entirely
outside the limits of the pow-
er” conferred on it under the
Communications Act.

And the BISX-listed com-
munications provider is also
seeking a declaration that the
PUC (now URCA’s) decision
to calculate its Internet fees
based on the revenues gener-
ated by Cable Freeport was
“irrational and for improper
purposes”.

Describing Cable Freeport
as its wholly-owned sub-
sidiary, Cable Bahamas is
alleging that on October 19,
1995, it was issued with a
licence to provide informa-
tion and entertainment ser-
vices by the GBPA in the
Port area, paying licence fees
to the latter.

Cable Bahamas’ licence
was modified on December
21, 2001, to allow it to become
an Internet Service Provider
(ISP), but it was only on May
9, 2007, when the then-PUC
first requested that the com-
pany pay licence fees, earned
from the provision of Inter-
net services in Freeport,
which it alleged were in
arrears.

Cable Bahamas, in an
October 28, 2008, letter to the
PUC, objected to the demand
for payment, pointing to the
alleged “lack of jurisdiction
of the PUC to calculate and
determine licence fees
payable based on the revenue
earned from providing pub-
lic Internet services within the
Port area”.

Alleging that the Telecom-
munications Act 1999 (now
succeeded by the Communi-
cations Act) did not repeal
the Hawksbill Creek Agree-
ment provisions that provide
the GBPA “special regulato-
ry functions and powers” to
licence Freeport-based enti-
ties to provide telecommuni-
cations services, Cable
Bahamas is arguing that the
Act “ought to be construed
as being generally applicable

Cable/URCA

to the regulation of telecom-
munication services through-
out the Bahamas except for
the Port area...

“Consequently, it also fol-
lows that none of the powers
vested in the PUC [URCA]
by virtue of the Act may be
lawfully performed by the
PUC in relation to the Port
area on Grand Bahama, the
Port Authority and its
licencees,” the BISX-listed
provider alleged.

“This extends to, and
includes, the power conferred
by Section 10 of the Act,
which authorises the PUC to
set license fees in amounts
required to defray costs con-
nected with its functions and
powers in relation to telecom-
munications. Therefore, by
calculating the license fees
payable on revenue earned
by Cable Freeport from the
provision of public Internet
services within the Port area,
the PUC was acting outside
of the limits of the powers
conferred upon them under
the Act.

Cable Bahamas is also
alleging that while it is
licensed by URCA, it is its
Cable Freeport affiliate - a
separate legal entity - that
earns all its Freeport rev-
enues, and that is licensed by
the GBPA, not the Nassau-
based regulator.

The dispute goes right to
the heart of the ‘special status’
that Freeport and the GBPA
have, and the latter’s ability to
regulate and licence corpo-
rate entities in the 230 square
mile area, and the extent to

which they conflict with the
central government in Nassau
and its regulatory agencies.

Cable Bahamas’ position
was further made clear in an
October 28, 2008, letter to the
PUC, in which its president
and chief executive, Antho-
ny Butler, said simply: “The
PUC is acting ultra vires in
that it has no jurisdiction to
regulate telecommunications
and, in particular, Internet in
the Port area and demand
licence fees for the same.”

Pointing out that Cable
Bahamas did not conduct
business in the Port area, Mr
Butler added that Cable
Freeport would be “discrimi-
nated” against if its was
required to pay both URCA
and GBPA licence fees, thus
subjecting it to “double taxa-
tion”. Other telecommunica-
tions operators not based in
Freeport would not be sub-
jected to such “onerous oblig-
ations”.

Referring to the PUC’s
demands, Mr Butler said that
if enforced, they would
“exceed the Commission’s
statutory authority, and con-
travene the provisions of the
Hawksbill Creek Agreement.

“The proposed action, if
implemented, will ‘fly in the
face’ of the Grand Bahama
Port Authority and will have
dire economic consequences
for the Port area.”

URCA is being represent-
ed by Ferron Bethel and
Camille Cleare and Harry B.
Sands Lobosky; Cable
Freeport by Fred Smith QC
of Callender’s & Co; and
Cable Bahamas by Robert
Adams of Graham Thomp-
son & Co.





PUBLIC NOTICE



























Stephan Francis is no longer employed by The



Landing Hotel and restaurant on Harbour




Island, and is not authorized to conduct



business in the name of, or on behalf of



The Landing Hotel and Restaurant.




RENEWED FOCUS ON SERVICES COALITION

FROM page one

Bahamas when addressing the challenges
and opportunities arising under the Eco-
nomic Partnership Agreement (EPA) trade
deal between CARICOM and Europe.

“With the discussions with the European
Union on this agreement (the EPA), espe-
cially as it relates to services, what needs to
happen is - while each industry has its
unique needs - there needs to be a con-
certed effort to ensure that the discussions
happen on a nationalistic perspective and
not on an individual industry perspective,”
said Mr Rolle, who spoke to Tribune Busi-
ness during a technical workshop on the
EPA organised by the Chamber in con-
junction with the Caribbean Export Devel-
opment Agency (CEDA) and the Cari-
com Secretariat’s EPA Implementation
Unit.

Mr Rolle has now begun contacting
industry associations and societies to gauge
the level of enthusiasm for the coalition. He

so far feels that there is more interest in
2010 than when he left the presidency of
the Chamber in 2005.

“I don’t think the business community
was ready for it back then. What you are
seeing now, though, is that business per-
sons, not only from a negotiating stand-
point as it relates to international agree-
ments, but also here from a position of
lobbying for certain things, are seeing the
benefit,” Mr Rolle said.

“So we have started that process. We
have put together some documents, and I
am identifying all the various service organ-
isations we need to reach out to and then
we'll move forward.” He added that it was
likely that a number of new professional
organisations representing services in the
Bahamas will need to be formed, with some
currently unrepresented.

Coalitions of Service Industries already
exist in Caribbean countries such as
Trinidad and Tobago, Barbados and St

SEE page 6B

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The



Bahamas Electricity

Corporation wishes to advise the

‘Legendary Past... Glorious Future!’

Now accepting applications for teachers for September, 2011
for the following areas:

EARLY LEARNING CENTRE (Ages 3-5
Classroom Teachers

public that it has commenced
electricity service disconnections
of ALL accounts with overdue
balances. This includes the
accounts of customers who have
payment arrangements with BEC
but are not honoring their
commitments.

PRIMARY SCHOOL (Grades i —6

Classroom , Modem Languages, (French and Spansh]
Physical Education (including teaching

Swimming }

HIGH SCHOOL (Grades 7 = 12)

Science (Chemistry, Biology, Physics) History, Mathematics, Accounts, Physical
Education, Guidance Counsellor, Modem Languages, (French and Spanish) English
Language and Literature, Information Technology, Music, Religious Education. Ar,
History, (‘Sacial Studies) Library Science

The public is also advised that

payments can be made directly to
the Corporation’s payment centres
in New Providence and the Family
Islands or at any major banking
institution (either online or over the
counter).

CRITERIA FOR EMPLOY MEST
* A inamurn of a Bachelor's Degree trem ¢
Macy med canfirmied

ree S COLLEGE .

Please call

302-1623/4
or toll free at
242-300-0110

for any billing queries

5a competitive benefits package,
pratuity, peraion, ‘health
dren's tuition

The } h ethod echis
is & part.

Applioation fant are avaliable from the Human Reaseces Office at ihe school or may be downloaded from
our aeend sinning webabe sersgchensefothcam, The completed application, bagether with «a covenng
lamar, a shalernant of educational philosophy and a pecant photagraph must bea sant to:
The Principal

Queen's College

P.O, Bow Miz?

Nassau, Bahamas
Or fawed toc 242-393-5248, of emaied to dkyochiigchencelorthcom and should arive mo later fran
January 4, 2091. Candicates short-listed wil be contacted by tolaphone, fax or email for an intariaw.

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

View your electricity account online at
www.bahamaselectricity.com




PAGE 6B, MONDAY, DECEMBER 13, 2010




















ESSO (ROUND NINE) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (ROUND NINE) BRAZIL EXPLORATION
LIMITED

EXXONMOBIL ABU DHABI GAS VENTURES
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL ABU DHABI GAS VENTURES
LIMITED

ESSO (BM-S-TWENTY ONE) BRAZIL
EXPLORATION LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TWENTY ONE) BRAZIL
EXPLORATION LIMITED

ESSO (BM-S-TEN) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TEN) BRAZIL EXPLORATION
LIMITED

ESSO (BM-S-NINE) BRAZIL EXPLORATION
LIMITED

NOTICE
Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-NINE) BRAZIL EXPLORATION
LIMITED

THE TRIBUNE

a =. ~~
Renewed focus on

Services Coalition

FROM page 5B

Lucia, acting as alliances of
professional services associ-
ations and organisations,
and becoming focal points
for lobbying and addressing
trade in service issues and
services development.
Trinidad and Tobago’s
Coalition of Services Indus-
tries (TTCSD lists the fol-
lowing among its objectives:
Providing national service
providers with knowledge of
export opportunities; iden-
tifying and exploiting mar-
ket opportunities; promot-
ing the further development
and competitiveness of the
national services sector; sup-
porting and facilitating the
development of industry
standards; educating nation-
al service providers on rele-

vant aspects of trade agree-
ments that affect trade in
services; and representing
the interests of the national
services sector, including
lobbying government and
promoting rules for trade in
services.

Such a coalition in the
Bahamas would be able to
act as an intermediary
between organisations that
are secking to promote the
development of Bahamian
service suppliers, who may
be facing new opportunities
or commercial hazards

under the EPA and the lib-
eralisation of trade in goods
and services that it brings.
A number of entities, such
as CEDA, are administer-
ing programs to help build
the capacity of businesses in
the Caribbean to compete
in the region and in Europe,
but some service suppliers
in the Bahamas have com-
plained they are not getting
access to information that
might allow them to take
advantage of such issues.
Carlos Wharton, a senior
trade policy officer with

CEDA, advised during the
EPA workshop that if a
Bahamian coalition of ser-
vice industries is formed,
stakeholders would be wise
to ensure that any such
coalition has private as well
as public financial backing.

He noted a “very worry-
ing” drying up of financial
support for such coalitions
has taken place in other
countries, where they were
primarily funded by govern-
ments in the Caribbean,
threatening their existence.

EXXONMOBIL EXPLORATION AND PRODUCTION
(BARENTS SEA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice
is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(BARENTS SEA) LIMITED

ESSO (BM-S-TWENTY FOUR) BRAZIL
EXPLORATION LIMITED

NOTICE
Pursuant to the provisions of Section 137

(8) of the International Business Companies Act
2000, notice is hereby given that the above-named
Company has been dissolved and struck off the
Register pursuant to a Certificate of Dissolution
issued by The Registrar General on the 29" day of
November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-TWENTY FOUR) BRAZIL
EXPLORATION LIMITED

EXXONMOBIL TRINIDAD LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL TRINIDAD LIMITED

EXXONMOBIL BRAZIL (ESPIRITO SANTO BASIN)
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL BRAZIL
(ESPIRITO SANTO BASIN) LIMITED

BRAZIL EXPLORATION (ROUND NINE) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
BRAZIL EXPLORATION (ROUND NINE) LIMITED

ESSO (BM-S-EIGHT) BRAZIL EXPLORATION
LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
ESSO (BM-S-EIGHT) BRAZIL EXPLORATION
LIMITED

EXXONMOBIL EXPLORATION AND PRODUCTION
(KARA SEA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(KARA SEA) LIMITED

EXXONMOBIL EXPLORATION AND PRODUCTION
(WEST SIBERIA) LIMITED

NOTICE

Pursuant to the provisions of Section 137 (8) of the
International Business Companies Act 2000, notice

is hereby given that the above-named Company has
been dissolved and struck off the Register pursuant
to a Certificate of Dissolution issued by The Registrar
General on the 29'" day of November, A.D., 2010.

Dated the 8th day of December, A.D., 2010.

Carol G. Gray
Liquidator of
EXXONMOBIL EXPLORATION AND PRODUCTION
(WEST SIBERIA) LIMITED

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

MONDAY, DECEMBER 13, 2010, PAGE 7B



FROM page one

increases had failed to produce the desired
revenue bump, Mr Laing said: “I would say
that that would only be possible if someone
had undertaken a detailed analysis of how tax
revenues performed on all fronts.

“No one is in a position to say that. That
would not be a rationale argument. In the first
quarter of the fiscal year, revenue performance
is hardly a reflection of anything attributable to
a tax policy. It’s too early; too short a time,
especially in the economic circumstances in
which we find ourselves.”

Mr Laing said the global economic climate
had been impacting on other governments’
revenue collections as well as the Bahamas, but
added: “I know for a fact on the Excise Tax
side of things that revenue is performing ahead
of last year. It’s up slightly, $2-$4 million ahead
according to the last figures I saw.

“That is one area where tax increases were
levied.”

Mr Laing pointed out that other quarters
were traditionally stronger than the first for the
Government when it came to revenue gener-
ation, adding: “It doesn’t follow that the new
tax policy hasn’t been working.”

The Government, he added, had been con-
ducting fiscal analyses on a regular basis,
assessing where it was constantly in terms of

“Too early to say’
tax policy failed

revenue collection and identifying collection
and target gaps.

Analysing why the Government’s fiscal
deficit in the 2010-2011 first quarter had
widened, the Central Bank said higher debt
servicing payments and goods and services
spending increased total expenditure by $14.2
million or 3.8 per cent to $382.7 million,
although capital spending fell by 1.7 per cent to
$36.9 million. Net lending also dropped by
28.2 per cent to $8.1 million.

While total revenue receipts rose slightly
by $3.4 million or 1.3 per cent to $271.2 million,
due to what was described as a “timing-relat-
ed increase in non-tax collections by 29.1 per
cent to $29.9 million”.

Recurrent spending was up by 5.63 per cent
to $337.8 million, while import/Excise duty
collections fell 2.63 per cent year-over-year to
$136.4 million, compared to $140.1 million the
year before.

The Government is relying on the $210 mil-
lion Bahamas Telecommunications Company
(BTC) sale proceeds to reduce the fiscal deficit
this year and pay down debt.



The Eden Centre

Dr. Liu Zelin (Leo)

Has MOVED from Village Road to Winchester Street, Palmdale
New phone number are: 328-6817, 328-6819 cell: 454-0188

Miraculous Chinese Medical Doctor
heals patients ailments

A man suffered from severe pain in his right knee for a long
time. He found it difficulty to move around. His knee was
swollen and very stiff. He had this problem for 2 1/2 years.
After three treatment visits the swelling went down and he
was able to move around with no problem. I recommend this
treatment for persons who want results and do not want to
have surgery.

An elderly man 84 years old suffered from high blood pressure
and diabetes. After 3 visits his blood pressure went to normal
and his diabetes is now under control.

Special Treatment for
DIABETES, HYPERTENSION, SINUS, ARTHRITIS, CARPEL
TUNNEL SYNDROME, REPETITIVE STRESS INJURIES,
STIFF NECK

GN-1150

OFFICE OF THE PRIME MINISTER

COMMONWEALTH OF THE BAHAMAS

Island of Naw Providence

NOTICE OF POSSESSION

Given Under

THE ACQUISITION OF LAND ACT

Chapter 233

WHEREAS by Declaration of Intended Acquisition dated 4" day of

October A.D., 2010 and published in the Extraordinary Gazette dated 8" day

of October AD, 2010, the Minister responsible for Acquisition and

Disposition of Lands, the Promoter, declared that the said lands described in

the Schedules hereto was required for a public purpose, namely, public road

intersection improvements and for uses related thereto.

AND WHEREAS the Minister responsible for Acquisition and Disposition

of Lands, is of the opinion that possession of the said land should be obtained

before payment is made to the rightful claimants thereto.

NOW THEREFORE it is hereby declared that the said lands has been

appropriated by the Minister responsible for Acquisition and Disposition of

Lands for the purpose mentioned in the said Declaration of Intended

Acquisition with effect from the date hereof.

Dated this 6 Day of

December

AD., 2070
Signed:

Hubert 4, Ingraham
Minister Responsible for

The Acquisition and Disposition of Lands

Schedules (Annexed)

Tor rhe) a
ful OOF eff,

F
AOI EIT:

OLB

FENN EDF

WO SATY OF FAR Satawer ours
SSA FOAPeas OF SLAW WE

2Porey Paris

SCHEDULE

AT that certain Piece, Pare: OF lot of land corbals ing bY adimeasurement 16,036 squi

1a OT thereabouts being a ESOP of Ai JAE (eT kraect cH Lard Sang) bo be the Propet; mi

Kenneth Higgs situate approximately 34 feet north of Jolin F Drive and 283

feet weet of Farrington Road im the western district of the island of New Providence in

the Commonwealth of The Bahamas ABUTTING AND BOUNDING towards the

NORTH on other portions of land said to be the property of Kenneth Higes towards
the EAST on land the property of Kenneth Higes but about to be ar quired by the
(overmment of The Bahamas bovards the SOUTH on Land the property of Kenneth
Higgs but about to be acquired by the Goverment of The Bahamas towards the WEST
on Dolphin Drive or however else the same novay

abat and bound which said piece

paces OF bet ot land is shown coloured Fil 1k OL copie 4. ot the plan here attached

SCHEDULE
All that certain piece, parcel or lot of Lard containing by adoeasurement 22.064 Sayan:
feet or thereabouts being a portion ot a larger tract of land said te be the property of
Kenneth Higes situate approximately 40 feet north of John F. Kennedy Drive ariel 3) fees
northweshvardly of Farrington Eoad in the western district of the island of New
Providence in the Comanorwealth of The Bahamas ABLITTINNG AND BOUNDING
towards the NORTH partiy on other pertions of land said te be the property of
Kenneth Higes arul partly portions of lots 9,10, 11 and 12 of block of Cakes Airport
Subdivision towards the EAST on Kiki Street towards the SCYITH partly on other
partons of lots 9, 10, 11 and 12 and other portions of land said bo be the property of
Kenneth Higes but about to be acquired by the Government of The Bahamas towards
the WEST on land said to be the property of Kenneth H ige8 but about te be acquired by
the Government of The Bahamas or however else the same may abut and bound which
said piece, parcel or lot of lara is shown coloured pink on copies of the plan here

attached



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8B, MONDAY, DECEMBER 13, 2010

THE TRIBUNE



FROM page one

the Utilities Regulatory & Com-
petition Authority (URCA) said
it estimated that total industry
revenues had grown by 3 per
cent based on estimates and
financial figures it had collected
from industry licencees.

Acknowledging that this
growth rate was slower than that
achieved by the Bahamian elec-
tronic communications industry
in the period 2003-2007, URCA
added: “It should be noted that
during 2009, the Bahamas’ real
gross domestic product (GDP)
contracted by 4.3 per cent, large-
ly due to the effect of the global
economic slowdown on tourism.

“The growth in the sector rev-
enue, therefore, surpassed
growth in the general level of
economic activity in the
Bahamas.”

Based on financial statements
recently issued, some $361 mil-
lion of those revenues were gen-
erated by the Bahamas
Telecommunications Company
(BTC) according to its 2009

Communications sector revenues

audited statements, with much
of the rest coming from Cable
Bahamas.

Elsewhere, of the 121 new
licences granted by URCA in
2009, some 27 were for use of
additional radio spectrum, eight
were operating licences, and the
remainder - 89 - reciprocal ama-
teur licences. Of the 28 licences
not granted, their applications
were pending.

Apart from BTC, Columbus
Communications and Caribbean
Crossings, URCA also revealed
that in 2009-2010 it had granted
a licence to another internation-
al connectivity provider, Global
Nexus Telecommunications,
which is proposing to build and
operate a submarine cable with a
landing in Freeport, Grand
Bahama.

The sector regulator, seem-
ingly excluding callback and
Voice over Internet Protocol
(VoIP) providers, pegged BTC’s
share of the Bahamian fixed-line
voice market at 98 per cent, with

Advanced Financial &
Accounting Analyst

Nassau based private equity group with
holdings in real estate, hospitality and mortgage
lending is seeking a positive, results oriented,
highly motivated individual with the following

qualifications:

* Three to five years of Financial and Accounting
experience in banking or hospitality industries

* College degree (Bachelor) in Business,

Finance or Accounting

* Charted Accountant (highly desired)

The private equity group is a highly dynamic
and growing business. Business activities span
investments throughout the Americas and the

Caribbean.

Qualified candidates should email

their resume and salary expectations to Nassau

FinanceAnal

st2010@gmail.com.All

applications are kept in strict confidence.

Systems Resource Group (SRG)
having the remainder.

Fixed-line telephone services
were said to have a market pen-
etration of 37.74 subscribers per
100 persons, a ratio that “com-
pares favourably” with most
countries in a benchmarking
sample, apart from Bermuda
and the Cayman Islands, where
the ratios were 88.96 and 67.69
per 100 persons respectively.

Fixed-line service prices had
remained stable for five years,
with BTC’s residential access
charge at $15 per month ($12
for elderly residents), and busi-
ness access at $36 per month.
BTC’s long distance call rates
ranged from $0.47 per minute to
the US, to $0.66 for the
Caribbean (excluding Cuba) and
$0.85 for Cuba and nations out-
side the Caribbean/North Amer-
ica.

BTC and SRG’s Voice over
Internet packages provided for
rates ranging from $9.95 to
$34.99 per month.

On the cellular side, penetra-
tion was relatively high despite
BTC’s monopoly, with 105
phones per 100 inhabitants.

This figure, though, was well
below all others in URCA’s
sample, with penetration as high
as 178.16 phones per person in
Anguilla.

Elsewhere, on the broadband
Internet side, penetration by the
likes of BTC, Cable Bahamas
and smaller Internet Service
Providers (ISPs) stood at 18.48
subscribers per 100 persons. That
figure, according to URCA, was
comprised of 12.6 cable sub-
scribers per 100 persons, and
5.88 DSL (BTC) subscribers per
100 persons.

These penetration figures,
though, ranked the Bahamas
behind the likes of Barbados,
Bermuda, St Kitts, Singapore
and New Zealand.

And, finally, on pay television
services, the penetration in the
Bahamas was found to be 22.95
subscribers per 100 persons.

Meanwhile, URCA said it
expects to decide this month on
whether Cable Bahamas has

HOTEL MANAGERS PENSION FUND
NOTICE

Pensioners af

THE BAHAMAS

HOTEL

INDUSTRY MANAGEMENT PENSION FUND
are asked to visit the Fund's Office in the Societe
Generale Building, #4 West Bay Street, Nassau,
N.P., The Bahamas to obtain an end of year voucher
and to update their pension eligibility records,

Please call or visit the Funds Office on or betore
Thursday, 23rd December 2010.

Please call us at (242) 322-8331/4 if you have any

questions.

The Trustees for the Fund wish all hotel pensioners a
safe and joyous holiday season,

For mere information

the Bahamas Hatel

Industry Management Pension Fund you may visit
our website at: waw.bhimpf.com.

Darte: é* December 2010



complied with its obligation to
separate its cable TV and Inter-
net services, as well as complete
its review of the BISX-listed
company and BTC’s accounting
separation and cost accounting
reports.

These are required under
their Significant Market Power
(SMP) obligations.

URCA also plans to make a
decision on BTC’s Reference
Access and Interconnection
(RAIO) offer in the 2011 first
quarter.

For 2011, URCA is budget-
ing for just over a 9 per cent
increase in operating spending
to $5.285 million, compared to
$4.835 million for this year, with

operating expenditure to
increase by $278,000.

Rent and utilities have
increased from 2 per cent to 8
per cent of budget, due to
URCA’s move to expanded
offices in premises owned by
UBS (Bahamas).

Staff costs have increased by
three percentage points to 33 per
cent of URCA’s budget, with
another 34 per cent to go on pro-
fessional services.

This includes $650,000 for reg-
ulatory advice, $262,000 for legal
fees, and $131,000 for human
resources, with URCA attribut-
ing these spending needs to the
fact itis a relative newcomer as a
regulatory agency.

Engineers in move on EPA recognition
FROM page one

(MRA).

This is required before engineers from both regions, including
the Bahamas, can sell their skills in each other's markets.

By doing so, engineers will become the first Bahamian profession
to take steps towards achieving mutual recognition for themselves in
Europe ahead of the implementation of the EPA, which is intended
to ease access for CARICOM states’ goods, services and professionals
into the European market and vice versa.

In a technical workshop on the EPA held at the Sheraton Nassau
Beach Resort, Allyson Francis, a services and investment specialist
with the Office of Trade Negotiations (OTN) in the CARICOM sec-
retariat, highlighted 29 service areas whose inclusion in the EPA ser-
vices schedule, she said, indicates that the European Union (EU) is
"encouraging" involvement by Bahamian professionals in those
fields in Europe, subject to certain conditions.

These fields include: legal advisory services with respect to inter-
national public law and foreign law (i.e. non EU-law); accounting and
bookkeeping services; taxation advisory services, architectural ser-
vices; urban planning and landscape architecture services; engineer-
ing services; integrated engineering services; medical and dental ser-
vices; veterinary services; midwives services; services provided by nurs-
es, physiotherapist and paramedical personnel; computer and relat-
ed services; research and development services; advertising services;
market research and opinion polling; management consulting services;
services related to management consulting; technical testing and
analysis services; related scientific and technical consulting services,
maintenance and repair of equipment, notably in the context of an
after-sales or after-lease contract; chef services; fashion model services;
translation and interpretation services; site investigation work; high-
er education services (only privately-funded); environmental ser-
vices; travel agencies and tour operator's services; tour guides services;
entertainment services other than audiovisual services.

The terms of the agreement also allow for European profession-
als to supply contractual services in these areas in the Bahamas,
subject to eight conditions, which include the need to have a university
degree and other necessary professional qualifications - except in the
case of chefs, fashion models and entertainment service suppliers - and
the demand that the professional involved does not have a contract
to operate in the country for over a year. The agreement also
demands that the service supplier cannot receive payment for any oth-
er services other than those he or she came to Europe or the
Caribbean to supply.

Under the services schedule of the EPA, which is available on the

SEE page 9B

(aN-1149

OFFICE OF THE PRIME MINISTER

COMMONWEALTH OF THE BAHAMAS

NEW PROVIDENCE

THE ACQUISITION OF LAND ACT

(Chapter 233)

DECLARATION OF INTENDED ACQUISITION

WHEREAS it appears to the Prime Minister, the Minister responsible for
the Acquisition and Disposition of Lands that the land described in the

Schedule hereto is needed for a public purpose.

NOW THEREFORE Notice is hereby given by the Promoter, the Minister
responsible for Acquisition & Disposition of Lands, that the said land is

needed for a public purpose, namely, construction of public utilities
infrastructure and for uses related thereto and that the said Promoter intends

to acquire the sald land for the said public purpose.

ALL PERSONS interested in the said land shall within thirty (30) days of
the publication of this Notice in the Gazette or the posting of the same, state in

writing to the Promoter, whether by hand-delivery or by post at P. 0. Box
CB-10980, Nassau, The Bahamas, the nature of their interests in the sald land,

the amount and particulars of their claims to compensation for such interests

and provide the relevant documents (if any) supporting those interests.

The Survey Plan of the said land may be inspected at the Department of
Lands and Surveys situate at Bay and Armstrong Streets, New Providence

between the hours of 9:30 a.m. and 5:00 p.m. from Monday to Friday.

Datedthe 6° day of

Signed:
Hubert A. Ingraham

Minister Responsible for
the Acquisition and Disposition of Lands

Schedule (Annexed)

December AD. 2010

AMD that cer



the East on vn

SCHEDULE

AREA = 44179 SOUARE FEET

4479 Scuare Feet
Inaly granted 1 Hare riste
ef land cx
by Bahamas Electricity Carpe
Bimin
wart the Marth on thet aforementioned bent ¢

imber 32

land towards the Somth partly i
land towards the West on th
but and bound which said jot
med pink on

He number 2804 in the Department of

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THE TRIBUNE



MONDAY, DECEMBER 13, 2010, PAGE 9B

{CAPITAL MARKETS

= FG

BROKERAGE & ADVISORY SERVICES

FROM page 8B

website of the Caribbean
Regional Negotiating Machin-
ery, terms also exist under which
other categories of people,
defined as "independent profes-
sionals", "graduate trainees",
"key personnel” and "business
service suppliers" in various
fields can enter into countries in
the two regions to sell their skills
- again subject to a number of
terms and conditions.

The EPA speaks to the
requirement for professional pri-
vate sector bodies in Europe and
the Caribbean to enter into
negotiations regarding the terms
and conditions under which they
will accept each others’ nation-
als, who may provide a particular
service, such as accounting, to
enter their market.

The MRAs are to address the
method of accreditation in a giv-
en country, seeking to ensure an
easier method of accounting for
the level of education and capac-
ity of a professional in a particu-
lar field should they come seek-
ing to provide services in anoth-
er jurisdiction.

The intention is that the
MRAs would be negotiated and
finalised through discussion
between professional bodies
within various countries, or rep-
resenting the region as a whole -
hence the need for Bahamian
and other Caribbean engineers
to meet with the European Fed-
eration of National Engineering
Associations, a body which
incorporates Europe-wide pro-
fessional engineering organisa-
tions.

Engineers in
move on EPA

recognition

Such MRAs are another
move towards greater formali-
sation and regulation of stan-
dards governing particular pro-
fessional services, such as
accountants, engineers and archi-
tects, in the Bahamas. Without
such formalisation of standards,
such professions will be in a
weak position when it comes to
speaking with their European
counterparts about who should
and should not be permitted to
come to the Bahamas to operate
in these fields.

Other service suppliers have
been encouraged to form pro-
fessional associations to begin
discussing accreditation of pro-
fessionals in their service area.
With tourism one of the key
areas in which it is expected
Bahamian professionals may be
able to benefit from the EPA
with Europe, Winston Rolle,
executive drector of the
Bahamas Chamber of Com-
merce, said going forward the
formation of a professional asso-
ciation by such individuals
should be a priority.

"Tourism can cover so many
things - anything from a bellman
to a marine biologist - but I
would imagine most of the inter-
est you would be getting would
be more from people in man-
agement, and so obviously
they’re going to have to get
together to help craft their crite-
rias," said Mr Rolle.

Bisk&

ROYAL FIDELITY

Money ot Work

BISX LISTED & TRADED SECURITIES AS OF:

FRIDAY, 10 DECEMBER 2010

BISX ALL SHARE INDEX: CLOSE 1,482.73 | CHG 0.01 | %CHG 0.00 | YTD -82.65 | YTD % -5.28
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320

52wk-Low Security
AML Foods Limited
Bahamas Property Fund
Bank of Bahamas
Benchmark

Bahamas Waste

Fidelity Bank

Cable Bahamas

Colina Holdings
Commonwealth Bank ($1)
Consolidated Water BDRs
Doctor's Hospital
Famguard

Finco

FirstCaribbean Bank
Focol (S$)

Focol Class B Preference
ICD Utilities

Jd. S. Johnson

Premier Real Estate

Previous Close Today's Close

Change EPS $ Div $
1.01 1.01 0.00 0.150
0.00 0.013
4.90 4.90 0.00 0.598
0.18 0.18 0.00 -0.877
2.70 2.70 0.00 0.168
2.17 2.17 0.00 0.016
10.46 10.46 0.00 1.050
2.40 2.40 0.00 0.781
6.85 6.85 0.00 0.422
1.79 1.80 0.01 0.111
1.60 1.60 0.00 0.199
6.07 6.07 0.00 -0.003
7.23 7.23 0.00 0.287
9.39 9.39 0.00 0.645
5.46 5.46 0.00 0.366
1.00 1.00 0.00 0.000
5.59 5.59 0.00 0.012
9.82 9.82 0.00 0.971
10.00 10.00 0.00 0.991

Daily Vol.

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

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

Symbol
BAH29
FBB17
FBB22
FBB13
FBB15

Last Sale Change Interest
99.46 0.00 6.95%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%
100.00 0.00 7%
100.00 0.00 Prime + 1.75%

Daily Vol.

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

Symbol
5.01 Bahamas Supermarkets
0.40 RND Holdings

Bid $ Ask $ Last Price EPS $ Div $
5.01 6.01 14.00 -2.945 0.000
0.35 0.40 0.55 0.001 0.000

Daily Vol.

CFAL Securities Ltd. (Over-The-Counter Securities)

29.00 ABDAB
0.40 RND Holdings

52wk-Low
1.4076

Fund Name
CFAL Bond Fund
2.8300 CFAL MSI Preferred Fund
1.4954 CFAL Money Market Fund
2.8522 Royal Fidelity Bahamas G & | Fund
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
1.0000 FG Financial Growth Fund
1.0000 FG Financial Diversified Fund
9.1005 Royal Fidelity Bah Intl Investment Fund Principal
Protected TIGRS, Series 1
10.0000 Royal Fidelity Bah Intl Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3
Royal Fidelity Intl Fund - Equities Sub Fund

9.1708

4.8105

BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00

52wk-Hi - Highest closing price in last 52 weeks

52wk-Low - Lowest closing price in last 52 weeks

Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day

Daily Vol. - Number of total shares traded today

DIV $ - Dividends per share paid in the last 12 months

P/E - Closing price divided by the last 12 month earnings

KS) - 4-for-1 Stock Split - Effective Date 8/8/2007

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

30.13 31.59 29.00
0.45 0.55 0.55
BISX Listed Mutual Funds
NAV YTD%
1.5179 5.51%
2.9187 1.10%
1.5697 4.15%
2.7108 -13.03%
13.2825 -0.63%
114.3684 9.98%
106.5528 4.75%
1.1367 4.30%
1.0974 2.75%
1.1363 4.18%

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.919946
1.551550

NAV 6MTH
1.475244
2.911577
1.532712

Last 12 Months %
6.90%
3.13%
4.18%
-4.96%
-0.14%
12.49%
7.18%
5.21%
6.87%
5.78%

109.392860
100.779540

107.570619
105.776543

9.7950 4.85% 5.45%

10.6417 -1.20% 0.50%
9.6635 -3.37%
7.9442 2.94%
MARKET TERMS

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

EPS $ - A company’s reported earnings per share for the last 12 mths

NAV - Net Asset Value

N/M - Not Meaningful

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

-3.37%
6.47%

P/E

20 November 2029
19 October 2017
19 October 2022

30 May 2013
29 May 2015

P/E
256.6

9.03
261.90

NAV Date
30-Nov-10
30-Sep-10
3-Dec-10
30-Nov-10
30-Nov-10
30-Jun-10
30-Sep-10
31-Oct-10
31-Oct-10
31-Oct-10

30-Nov-10
30-Nov-10

30-Nov-10
30-Nov-10



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

GN-1148

OFFICE OF THE PRIME MINISTER

(Chapter 233)

Datedthe 3 dayof December

DECLARATION OF INTENDED ACQUISITION

WHEREAS it appears to the Prime Minister, the Minister responsible for
the Acquisition and Disposition of Lands that the lands described in the

Schedule hereto are needed for a public purpose.

A.D, 2010
Signed:

Hubert A. Ingraham
Minister Responsible for

Acquisition and Disposition of Lands

Schedule (Annexed)

NOW THEREFORE Notice is hereby given by the Promoter, the Minister
responéible for Acquisition and Disposition of Lands, that the said lands are

needed for a public purpose, namely, public road intersection improvements
and for uses related thereto and that the sald Promoter intends to acquire the

said lands for the sald public purpose.

ALL PERSONS interested in the said lands shall within thirty (30) days
of the publication of this Notice in the Gazette or the posting of the same, state
in writing to the Promoter, whether by hand-delivery or by post at P.O. Box

SCHEDULE

AREA = 623 SQUARE FEET

All that certain lot piece or parcel of land containing by

admeasurement six hundred twenty three square feet (623 sq.

ft.) thereabouts and shown on a plan on record in MP file in

the

CB 10960, Nassau, The Bahamas, the nature of their interests in the said lands,
the amount and particulars of their claims to compensation for such interests

Department ol

Lands and Surveys situate at

the
Northwest junction of William Cave and Shirley Street in
the city district of Nassau in the Commonwealth of the

Bahamas abutting and bounding toward the North on Estate

of Anthony Baker toward the East on other portion of the

Estate of Anthony Baker toward South on Shirley Street and

and provide the relevant documents (if any) supporting those interests,

The Survey Plan of the said lands may be inspected at the Department
of Lands and Surveys situate at Bay and Armstrong Streets, New Providence
between the hours of 9:30 am. and 5:00 pum. from Monday to Friday.

toward the West on William Cave or however else the same

(hereinatiter

called “demised Premises’) is‘are

of the areca hereto annexed and marked “A”

may abut and bound which said lot piece or parcel of land

more

Particularly delineated and shown coloured pink on the plan



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PAGE 1

N N A A S S S S A A U U A A N N D D B B A A H H A A M M A A I I S S L L A A N N D D S S L L E E A A D D I I N N G G N N E E W W S S P P A A P P E E R R Huge increase in gunshot victims C M Y K C M Y K V olume: 107 No.19MONDAY, DECEMBER 13, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER CLOUDY, A SHOWER HIGH 71F LOW 57F I N S I G H T SEEINSIGHTON PAGE12B S P O R T S Our Gitmo? SEESECTIONE I was a bit rusty By AVA TURNQUEST T ribune Staff Reporter aturnquest@tribunemedia.net PRELIMINARY year-end s tatistics for the National Emergency Medical Services department indicate there has been a 44 per cent increase in g unshot victims compared to the same period last year. According to Dr Alvery Han-n a, NEMS director, the reports for the January to October period indicate that trauma secondary to criminal activity is taking a major toll on the health care system. Late last night, the homic ide count climbed to 93 fol l owing the fatal shooting of a man at Augusta Street. Meanwhile on Friday night, two shootings were reported within 15 minutes of each other. Both men who were taken to hospital by N ational Emergency Medical Services (NEMS said to be in stable conditionu p to press time. Numbers taking a major toll on health car e system McCOMBO OF THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM I N S I D E SECTIONINSIDE Real Estate SEE page 13 P OLICE will be posted at various points through-o ut New Providence today t o enforce the seat belt law, which has been on the statute books since 2002. They will be checking vehicles and handing out information pamphlets. Motorists have been a dvised to take the seat b elt law seriously as police intend to enforce i t to its fullest extent. S eat belt legislation was passed and became law in 2002 under the FNM. SEAT BELT LAW COMES INTO EFFECT TODAY SEE page 14 By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net THE TWO paramedics accused of extorting tourists have returned to work with top officials citing insufficient evidence. In September, it was alleged that a two-member crew told two visitors who were injured in a traffic accident that they would have to pay up-front for treatment and transport. SEE page 13 TWO PARAMEDICS ACCUSED OF EXTORTING TOURISTS BACK AT WORK THE government has shortchanged the Bahamian public in the proposed sale of a majority stake in the Bahamas Telecom munications Corporation (BTC Christie said yesterday, noting that his administration had always intended for the Bahamian peo ple to retain ownership of the company. Mr Christie who appeared as a guest on the talkshow Parliament Street, on Island 102.9 said, We actually engaged in a By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net BAHAMAS Communications and Public Officers Union president Bernard Evans says the unions are not backing down in their fight against the proposed sale of a majority stake in the Bahamas Telecommunications Com pany (BTC Mr Evans said that union executives have been encouraged by the overwhelming pub lic support. Several major unions in the country are also standing with the BCPOU in support of BTC workers. The unions represent ing BTC workers are objecting to the governments plan to sell 51 per cent of the company to Cable and Wireless Communications (C&WC sell 51 per cent of BTC to C&W for $210 By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net BTC'S union heads acted "prematurely" and didn't go through the proper legal channels before staging two days of industrial action which could create "anarchy" in our society, said former trade unionist Leo Douglas. The union executives may also face lawsuits over revenue lost during two days of employee protest, speculated the former secretary general of the Bahamas Hotel Catering and Allied Workers FORMER TRADE UNIONIST HIT S OUT AT PREMATURE BTC INDUS TRIAL ACTION SEE page 15 Christie:government has shortchanged public over proposed BTC sale SEE page 14 PERRYCHRISTIE Unions are not backing down over BTC sale SEE page 14 THE unprecedented homicide rate broke a new record last night when a man was gunned down in Augusta Street, near Tucker Corner in front of a convenience store just before 7pm. Multiple gunshot wounds claimed the life of the countrys 93rd murder victim who was pronounced dead at the scene of the shooting on the residential street. Police had not identified the man before The Tribune went to press, however anyone with any information that could assist investigations should call police as a matter of urgency on 911 919 or call Crime Stoppers anonymously on 328-TIPS (8477 MAN SHOT DEAD IN YEARS 93RD MURDER T IMCLARKE/TRIBUNESTAFF MORE BTCNEWS:CONSTITUENCY POLL SHOWS MANY SUPPORT PROPOSED BTC SALE CABLE AND WIRELESS WINS AWARD PAGETHREE POLICE and residents gather at the scene (above (left

PAGE 2

By MEGAN REYNOLDS T ribune Staff Reporter mreynolds@tribunemedia.net A GRIEVING mother and her daughter were forcedo ut of their home yesterday m orning when their landlords removed the doors to their rooms after already removing the front and back doors. Theresa Gibson, whose partner of 18 years and father o f her daughter, Elezier Regn ier died in February, has been unable to pay the rent at her two-bedroom home in Faith Avenue since she moved in on August 28 and paid for two months accommodation. W hen she was unable to pay her rent at the end of October, Ms Gibson said her landlords sent someone overt o remove the front and back d oors while her daughter was at home. Locks M other and daughter spent two nights sleeping in her Nissan Skyline parked at thep olice Criminal Detective U nit before returning to the home with locks on the interior doors. But yesterday the doors to her and her daughters bedrooms and the bathroomw ere also removed, forcing the family of two out of their home. Last night she and her daughter Renee Regnier, 17, out of desperation sought r efuge at her sisters house, b ut Ms Gibson said there is really no room for them to stay there. T he freelance legal assistant has struggled to find work in recent months, and her financial situation took am assive hit when her partner died suddenly of a heart attack. But the start of their financ ial woes began when Mr R egnier, a lawyer and outs poken human rights activist, was charged in connection with a stealing ring in July last year. Ms Gibson said police s eized several of her own valuables as well as her partners belongings in the arrest. When Ms Gibson was unable to pay her rent in October she appealed to social services for help, anda lthough government offic ials were willing to assist, she said her landlord refused to provide the documentation she needed to prove she had not been able to pay the r ent. Police H er landlords then removed the doors and Ms G ibson went to police for h elp. But she said officers at the Carmichael Road Police D ivision were unwilling to h elp as they said it was a civil matter and they could not g et involved. Ms Gibson has since been summoned to appear in court on January 18 to respond to claims of unpaid r ent filed by her landlords, and until then she and her daughter are homeless forC hristmas. She said: Its awful, especially for my daughter. Her father just died seven m onths ago and we are tryi ng to pull ourselves together; you would think someo ne would have some compassion. We need a place to stay b ut with no funds we have to depend on social services. The landlords didnt want t o help, they just want me out of here. They should not have come in and removed thed oors without permission from the courts, but the police tell me theres nothi ng they can do about it, which is awful because I feel there is no one to protectm e. There should be laws to protect me, but the police are not enforcing the law. And I have been trying to look for somewhere else to live but because I dont h ave any money, no one will h ave me. C M Y K C M Y K LOCAL NEWS PAGE 2, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Mother and daughter homeless for Christmas Landlords remove doors after woman unable to pay rent

PAGE 3

A RECENT poll taken in the Killarney constituency shows that there are many Bahamians who support the g overnments intention to sell a 51 per cent stake in The Bahamas Telecommunications Company to the British t elecommunication company Cable and Wireless Communications (C&WC A recent poll conducted on Voices Killarney, an online news letter from the constituency office of Dr Hubert Minnis revealed that 67 people who participated in thep oll supported the BTC deal w hile 50 persons opposed the d eal. The poll, which was conducted on December 10 and 11, also revealed that six persons who participated in the poll were undecided. A mong those who supporte d the sale one person comm ented, I think the sale is an excellent idea. C&W are in the Caribbean Islands. Although we are considered ahead of them economically their telephone technology is far ahead of us. Anotherp osted, The union just needs to get over it. It is ludicroust hat a union dictates who the g overnment sells any corporation to. The government is elected by the people to conduct work on behalf of the people so I believe that everyg overnment would make d ecisions that are in the best i nterest of the country. Those people at Batelco are lazy and are afraid of privatization. Another person in support of the sale commented, Thes ale of Batelco is long overd ue. We are paying far too m uch for out dated systems and service that is not customer-oriented. I have been trying to find out for over one year how my land line was turned over in the name of my tenant and they were C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 3 pc Queen Post Bed 3 pc Queen Post Bed 1 pc Dresser 1 pc Dresser 1 pc Mirror 1 pc Mirror 2 pc Nightstands 2 pc Nightstands 1 pc 5 Drawer Chest 1 pc 5 Drawer Chest Queen 8 Pc Queen 8 Pc $3,950 $3,950 King 8 Pc Set King 8 Pc Set $4,150 $4,150Solid Wood Solid WoodT T h h e e T 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 J J a a v v a a G G a a l l l l e e r r y yWongs Plaza Wongs Plaza Madeira Street Madeira Street (242 (242 2335 2335Financing Available Through Commonwealth Bank I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e I I r r i i s s h h C C o o u u n n t t r r y y s s i i d d e e By MEGAN REYNOLDS T ribune Staff Reporter m reynolds@tribunemedia.net TELECOMMUNICATIONS giant Cable and Wireless has won an award f or providing a great environment in the workplace at i ts operations in Panama as Bahamas Telecommunications Company (BTC employees protested over their impending privatisationo f BTC. Cable and Wireless will take 51 per cent ownership of BTC in January, sparking protest from staff who took strike action on Wednesdayand Thursday with representation from the Bahamas Communications and PublicO fficers Union (BCPOU a nd the Bahamas Communications and Public Managerial Union (BCPMU a nd the support of most, if not all, unions in the country. C able and Wireless C aribbean, rebranded as LIME, has extended an open invitation to meet with the unions. T he company maintains privatisation can be a succ ess and cited its 1997 takeover of governmentowned telecommunications operations in Panama as an example of this. G allup Research selecte d Cable and Wireless Panam a (CWP o ne million work force groups in 150 countries to w in the The Great Workplace Award, and be oneo f just two Latin American c ountries singled out for the p rize. Secretary of CWPs staff union Denia de Powell said: The Cable & Wireless Panama Union maintains a very positive, constructivea nd vigilant relationship with t he company; working together to achieve common objectives and continue top osition it as the leader in P anama. We work on a scheme of open communication and transparent company-union relationship where we venti late our plans, objectives and g oals. We have also concluded the signature of a collec tive bargaining agreement ina friendly environment, where our employees and the company succeeded in framing the benefits and responsibilities with satis-f actory results for both parties. Our workforce is com mitted to the present and the future of CWP always giving the extra mile to ensure that as shareholders of the company, we can achieve the best results because of our hard work and daily commitment. The success of CWP has also been recognised by Central American business magazine Estrategia and Negocios, who ranked it the best company to work for inthe region, and market research companys Dichter and Neira, and Globescan, named CWP one of Pana mas leading companies for corporate social responsibility initiatives. CWP also claims to have contributed more than Constituency poll shows many support proposed BTC sale CABLE AND WIRELESS WINS AWARD SEE page six THERoyal Bahamas Defence Force made separate presentations to two charitable organisations as a part of its year long list of activities commemorating its 30th anniversary of official establishment. At 10 am on Friday National Security Minister Tommy Turnquest made a donation to the Yellow Elder Senior Citizens Centre in Yellow Elder Gardens. At 1pm on the same day another brief ceremony was held at the Ranfurly Homes for Children, Mackey Street, to make another donation. DEFENCEFORCEMAKESDONATIONS L EADING WOMAN T hora Gardener helps a senior citizen unwrap gifts. SEE page six

PAGE 4

EDITOR, The Tribune. I SHOULD be grateful if you would permit me tor espond to an article that was w ritten by Mr Pierre Dupuch and published in your paper last week (Dec. 2, 2010 Firstly, I was not surprised at the attempt by Mr Dupucht o seek to discredit me when I challenged him to speak the truth about the dredging thath e alleged was taking place i n the Exuma Cays and the E xuma Land and Sea Park. I was somewhat disapp ointed though, that the best response he could muster was to revert to heaping ill-nameso n me and calling me rude a nd arrogant. It is remarkable that even in the face of incontrovertible evidence Mr Dupuch would choose to ignore the facts and continue on his mission ofm isinformation about activities in the Land and Sea Park. Mr Dupuch said he thought I called the show to prove someone wrong. It was certainly not my i ntention to prove anyone w rong. But perhaps I did. Indeed I stated at the outset of the telephone conservationt hat the programme host and guest on the show (Mr Dupuch) had a responsibility and an obligation to speak thet ruth about what was happening in the Exuma Land and Sea Park. I indicated to t he host and his guest that they were misleading the public when they stated that dredging was going on at Bell I sland in the Exuma Land and Sea Park. Coincidentally, last Satur day, Mr Wendell Jones and the Jones Communications team confirmed that my state m ent about the project was true, as no dredging had taken place either in the park or on the Island owned by the AgaK han. I stated during the conver sation that neither the gove rnment nor I supported the construction of commercial marinas in the park. B ut, I indicated that I did not have any problem supporting the creation of safe harbours for the private y achts of the owners of privately owned Cays in the Exuma Land and Sea Park. I confirmed that my views on development in the Park were different from those individuals who believed that the Park should be a no build zone, consequently opposing all forms of development in the area. I expressed the view that development in the Park was indeed necessary. But, I also expressed the view that any form of development had to be carefully considered, well planned, and properly managed. At no time during my conversation with Mr McKinney and Mr Dupuch did I question their reasons or objec tions to dredging or development in the National Park. However, I did say to MrM cKinney that the photographs he claimed to have in his possession that would indicate active dredging on Bell Island, were either from a different island, old pho t ographs or fraudulent photographs. Consequently, I advised both Mr McKinneya nd Mr Dupuch to discontinue advancing false information as it was negativelyi mpacting the lives of resid ents of Exuma, especially those in the Exuma Cays. When I called the talk show, I also made the point that dredging was not a new phenomenon in the ExumaC ays and the Exuma Land and Sea Park. In fact, I made the point that nearly every single island in the Exuma Cays has been dredged, including Cambridge Cay, the p resent headquarters for the N ational Land and Sea Park. In almost every case, dredging in the cays was necessary toc reate safe harbours, either f or the owners of the Cays or for the creation of commer c ial marinas outside the National Park. (The Cays include: Allens Cay, Norman Cay, Wax Cay, Soldiers Cay,I ndigo Island, Cambridge Cay, Bell Island, and Compass Cay, etc). While speaking to Mr M cKinney, I advised that he should seek to give a balanced v iew of Mr Hubert Ingra h ams record with regards to the protection of the environment and the National Park.I ndeed, I reminded the host that it was the Ingrahams administration that was responsible for placing the D efence Force within the Park to enhance protection of the resources of the Park.T his action by the Prime Minister was not without serious political cost as members oft he PLP sought to gain polit ical mileage by saying all manner of things about the enforcement of regulations in t he Park. But, The Prime Minister remained focused. The people of the Exuma Cays and The Bahamas, especially those in the fishing industry, have expressed support (gratitude focused determination of the FNM Government to protect and preserve our heritage. Moreover, many of the young men in the Cays, despite their initial opposition, have now taken the opportunity to venture into different skills-sets, including, guiding, boat rental, carpentry and masonry. They now support the general mis sion of the National Park and have made it their duty to protect and preserve the envi ronment. It is now very obvious to me that Mr Dupuch was up to mischief once again. His suggestion that I am an advi-s or to the Prime Minister in t his context is but another example of this mischief. I would like to remind Mr Dupuch of facts that he should be aware of. TheP rime Minister is advised by the Best Commission, the Department of Physical Plan-n ing and other relevant gove rnment agencies on matters o f developments that may require excavation or dredgi ng. Mr Dupuch should also be aware that the Public Servants who provide advice ont hese matters do so profess ionally regardless to which political party is in power or which political party they support. When I called the talk show, I also took the oppor t unity to caution Mr Dupuch that his newly found position on dredging is not supported by his previous actions on this matter. I reminded him that dredging was approved in the C ays and in the Park when he w as a Cabinet Minister. I can only assume that he support ed it then because he did not o bject to it nor did he resign from the Cabinet. I concluded my comments by stating the following: ( 1) I do not support dredging in the Exuma National Land and Sea Park for com m ercial reasons, but I do sup port some form of dredging when necessary. (2 i n the Exuma Cays, including the National Park to provide safe harbours must be thor oughly planned and carefully managed so as to minimise any potential lasting damaget o the environment. (3 sionals who reviewed the application and the relatede nvironmental impact assess ment and who provided advise to the Government. ( 4) I support carefully planned but limited develop ment on Island in the Exuma C ays including Cays in the National Land and Sea Park. (5 that developers should seek t o employ unemployed persons from the surrounding Cays so as to show good faith to potential workers in the area. It is my hope that Mr Dupuch or anyone else not continues to use this issue as an opportunity to politicise this approval to gain political points to the peril of the good people of the Exuma Cays. I hope that I have clearly stated my position on devel opment in the island of my birth, and the islands that I enjoy at every opportunity. I would be grateful, if this letter could be published in your newspaper. BRENSIL ROLLE Nassau, December 7, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, DECEMBER 13, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., ( Hon.) LL.D., D.Litt P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972Published Daily Monday to Saturday Shirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama UNION LEADERS, who initially agreed to meet with the proposed new owners of BTC and said so in writing now maintain that the injection of outside capital and expertise are not needed to bring down telecommunication rates for customers. The government, they say, can do that at any time, because they own BTC, the former BaTelCo. M r David Shaw, top Cable & Wireless executive, who flew to Nassau especially to meet with the union, the Opposition party and members of the press, revealed that, among other things, Bahamians were paying 20 to 30 per cent more for cellular services than they should be. BCPMU president William Carrolls reply to that was that it would only take a t elephone call or an e-mail from Prime Minister Ingraham to reduce cellular phone rates by 50 per cent. We dont need a foreign company to reduce rates, he said. That statement was as dumb as the amusing spoof e-mailed to me this week about Sarah Palin, the former governor of Alaska who claimed she was up on foreign affairs because from Alaska she could see Russia a cross the Bering Strait. In this spoof a photo of an animated Palin, telephone in one hand, pen in the other, is shown followed by this exchange: Hi. This is Sarah Palin. Is Senator Lieberman in? No, governor. This is Yom Kippur. Well, hello, Yom. Can I leave a mes sage? F or those of our readers not up on their Jewish high holy days, Yom Kippur the Day of Atonement is the holiest day ofthe year for the Jewish people. And so Senator Joe Lieberman, the US senator for Connecticut, being a Jew, would not have been in office on that day. As for union leader Carroll to say that all it takes would be a stroke of the Prime Min i sters pen to reduce BTC rates, shows how equally dumb he is about managing a business. Other than collecting his own pay cheque, he has obviously not had to find payroll for a staff of more than 1,000 employees. He does not understand that before the Prime Minister can take up a pen to slash rates, he would have to cut staff so that BTC could earn enough revenue to pay remaining staff and operate at a profit. The Prime Minister would have to find a hefty injection of cash from somewhere to make BTC com petitive, because the day it loses its monop oly on cellular and fixed line services, that is the day BTC closes unless it has a strong international partner to make it competitive. The union maintains that it was kept in the dark on the Memorandum of Understand ing, and various other details of the proposed sale to Cable & Wireless. The government maintains that the public is not getting the whole truth. When the FNM took over the government, it met an unsigned agreement between the PLP government and Bluewater, which was said at the time 2006 was a bid vehicle especially created to buy into and privatise BTC. It was speculated that it was likely backed by private equity financing. Among its principals was a former chairman and CEO of Warner Music group, and f ormer financial officer of NTL, a UK based cable operator. Bluewater, which was to get 49 per cent of BTC, had no track record. Its principals obviously did not have the money to pay cash on completion of the deal. They were given six years to pay on instalments obviously out of what they hoped to make from BTC. And for those six years it was to have a monopoly on cellular s ervice. Bluewater, in an attempt to lock the PLP government into the deal, wanted an agreement that should the PLP renege on its agreement, Bluewater would be paid $5 million. It is understood that the privatisation committee made up of then Minister Bradley Roberts, James Smith, minister of state for finance, and Dr Marcus Bethel, agreed the proposal. However, the Christie cabinet t urned it down. On April 24, 2007 a week before election the committee submitted its report, which was approved, but not signed by the Christie government. The union had no objection to that deal, which was to sell 49 per cent to Bluewater, giving them full management control with four Bluewater representatives and three government members on the board. Thisg overnments sale to Cable & Wireless is for 51 per cent. The results are the same the 51 per cent gives them full management control with four of their members on the board and three from government. However, there is a difference between the two agreements in the present agreement with Cable & Wireless there are sev e ral things that it cannot do without gov ernments consent, one of them being laying off Bahamian staff. The union claims that it was not aware of the Memorandum of Understanding with Cable & Wireless. We understand that gov ernment did not send it to the committee, instead the Prime Minister personally sat down with the union and discussed it with its executive. Union members argued that it did not want Cable & Wireless as their partner. However, they agreed verbally and in writing to meet with Mr Shaw, CEO of Cable & Wireless, who was flying in espe cially to meet with them. Mr Shaw arrived, the table for the meeting with refreshments was ready when a message arrived that the union would not be there. Whoever the unions behind-the-scenes handlers now are and what we hear, if true, does not bode well for the union we suggest that in their own best interest and that of their membership, they sit down and talk with BTCs new owners. Response to article by Mr Dupuch LETTERS l etters@tribunemedia.net BTC union getting poor advice in BTC sale

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By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net PROGRESSIVE Liberal Party leader Perry Christie yesterday clarified his intentions a s to whether he will serve a full term in office if re-elected as Prime Minister. Mr Christie, who appeared as a guest on the Island 102.9 talk show Parliament Street said, I was trying to communicate in fact that at the end of the term we should be in a p lace to signal to the Bahamian people what I mean by orderly succession. When it was said that I would leave mid-term or when it was said that I said I would leave mid-term that perhaps was a mischaracterization or a misstatement on my part. I know that people will vote f or you because of what they think you can do for them and for me to hold out the probability that I would leave midterm would not be fair to the people who would vote for me; to present those programmes and policies that we will present during our next cam paign. I t was reported last month that Mr Christie had confirmed that he would not serve out his full term in office if re-elected but hand over the countrys leadership to a successor. Mr Christie told members of the press that he was confident that the PLP would have a secure f uture when he demits office in light of what he cited as depth at the leadership position. Prime Minister Hubert Ingraham has stated that he intends to lead the Free National Movement into the next general elections and that when it's time for me to go I will go and the party will select my replacement. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Christie clarifies intentions if re-elected By MEGAN REYNOLDS Tribune Staff Reporter mreynolds@tribunemedia.net ARMED robbers stormed three businesses on Saturday stealing cash and sparking police investigations. Keiths Chicken Shack in Fleming Street was robbed by a masked man armed with a high-powered weapon at around 2.15am on Saturday, police said. The man, dressed in blue jeans and a white T-shirt, with a scarf tied around his face, stole an undetermined amount of cash from the restaurant before running off in an easterly direction. That evening an armed robber held up staff at the VIP Chinese Express Restaurant in East Street and Cordeaux Avenue. The robber wearing a white tam, plaid shirt and blue jeans was armed with a handgun when he burst into the restau rant and demanded cash at around 6.30pm. He stole an undetermined amount of cash before getting away on foot. Just over an hour later two masked gunmen robbed D and C Convenience Store in Fire Trail West. Police said they burst into the store armed with a shot gun at around 7.45pm, stole an undisclosed amount of cash before getting away on foot. Police are seeking informa tion to assist investigations into all three armed robberies and continue to search for two rob bers, one who were masked and armed with a handgun, who held up a couple outside a home in Allen Drive, off Carmichael Road on Thursday night. The robbers stole the womans handbag, watch, cellular phone and other personal items, and they took the mans cellular phone and cash before they ran off at around 8.40pm on Thursday. In other crime news, police have reported the arrests of two men on firearms possession charges. Officers in the mobile division seized two handguns and ammunition when they searched a man in Augusta Street at around 8.30am on Saturday. A 28-year-old man of Quarry Mission Road was arrested in connection with the find. Police in the Special Intelligence Branch recovered a handgun and ammunition when they searched a man in Potters Cay just before 11pm on Saturday. A 35-year-old man of Dorsette Street, Fox Hill, was taken into custody in connection with the find. A rifle and ammunition were recovered by police officers in the southeastern division when they searched an abandoned b uilding in Nassau Village on Thursday. Police said the officers had received a tip about the twostorey building in Sumner Street prompting them to search it just before 3pm on Thursday. No one has been arrested in c onnection with the find and police are appealing for infor mation. Any information that may assist investigations into any of the crimes reported this weekend should call police as a mat ter of urgency on 911 919 or call Crime Stoppers anony mously on 328-TIPS ( 8477 ). OPPOSITIONLEADER Perry Christie ARMED ROBBERS HIT BUSINESSES

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C M Y K C M Y K INTERNATIONAL NEWS PAGE 6, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM allowed to transfer my phone line when they gave up the lease on my property. Theyh ave also not been able to sati sfy me with what has happened to my security deposit. The prices are too high, the service is poor and I think we need to up grade. Among those who opposed t he decision one person comm ented, I agree that staff numbers need to be reduced and employees simply more efficient to cut operation costs. However, if it must be sold, it should be sold to Bahamians with the capitala nd vision to further advance the company with the latest technologies available in phone and Internet services. Another stated, Batelcob elongs to the people of the Bahamas and should not be sold. Bahamians should own and run Batelco. I feel that it was a very bad decision because they sold such a great portion of the company fors uch little money BTC makes a lot of money just in one year. In two years time BTC would have already made over that amount so it really made no sense selling for so little, another person commented. Among those who were undecided, one stated, Notwithstanding that thes ale is inevitable and probably necessary. I'm curious to know what criteria was laid out to qualify as a purchaser. Does C&W meet the criteria, if they do and other companies also did, what were thet rack records of the other c ompanies when compared to C&W? Why must we sell 51 per cent as opposed to 49 per cent. Why not consider a group of Bahamians as opposed to foreigners? $4,660 million to Panamas economy since privatising the state-owned telecommunications company INTEL in May 1997, and plans as imilar privatisation process for BTC next year. A statement released by CWP yesterday maintains: CWPs business has been on aj ourney from being a state-owned monopoly ( like BTC) to what is now a competitive, customer-focused, but socially-conscious organisation, that has been ranked by surveys one of the most admired company in Panama. When reviewing its corporate actions, C WP is proud to be among the largest corpor ate contributors to Panamas education, s ports, culture, poverty. CWP is also strongly committed to supp orting the individual development of its employees. CWPs greatest assets are its peop le and the company is committed to providing excellent working conditions. A BABY was pronounced dead at the Prince Margaret Hospital thisw eekend after police were called for help. The infant was reported as being unresponsive at around 10.30am on Saturday and taken to hospital by Emergency Medical Services. The infant was pronounced dead at the hospital. Police are investigating the death. FREEPORT The man discovered floating in a Lucaya canal has been identified as 59-year-old Antonio Spiderman Fernandez. Fernandezs body was found shortly after 9am on Thursday at the rear of the Bell Channel Hotel. There was no visible trauma to the body. Police are awaiting the reports of an autopsy to determine the cause of death. Police investigation after baby dies MAN FOUND FLOATING IN LUCAYA CANAL IDENTIFIED Constituency poll shows many support proposed BTC sale FROM page three F ROM page three Cable and Wireless wins award S ENATOR DION FOULKES Minister of Labour & Social Development and the Mayaguana FNM Associa tion hosted a Christmas Party for children of Mayaguana on Saturday at the High School in Abrahams Bay. Senator Foulkes is pictured with (L to R B ethel, Kofe Bethel and Thomia Charlton. CHILDRENSCHRISTMASPARTY

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EMPLOYEES at one of t he largest self-service l aundromat chains, which s uffered a spate of armed robberies last month, attended a two-day crime prevention seminar to prot ect against armed robb eries and fraud. The police seminar lect ured 48 SuperWash e mployees, along with p resident Dionisio D'Aguilar, under the theme HINTS HavingI nformation Needed to Target Suspects. Superintendent Wayne Miller of the Central Division explained the seminar was part of a new initiative that sought to targ et repeat victims in the b usiness sector and implem ent crime prevention p artnerships. M r Miller said: Im h appy that we were able to specifically target this group of individuals, mostof whom would have already witnessed armed robberies first hand. It was good to be able t o meet with them, hold their hands and to partner with them in this regard.V ictory can only be had through a team effort, the c ommunity and police partnership, and thats what we want to get outt here. We need the help of everybody. Hosted at the Police Training College onW ednesday and Thursday, S uperWash employees also received information on providing information for a criminal sketch. Last month the laundromat chain suffered five armed robberies in a 10-d ay period the Nassau Street location was held-up three times, while the Blue Hill Road and Robinson Road/Minnie Street premises were each attacked once. During an interview with Tribune Business, Mr D'Aguilar former presid ent of the Bahamas Chamber of Commerce highlighted the need for strategies that would reduce the volume of cash businesses in the Bahamas, which he felt would signifi cantly reduce violent c rime. P resenter Chrislyn Skippings, police pressl iaison, said: It was a g ood turn out, a group of enthusiastic young people who were grateful for the knowledge and also empowered by the information. Individual seminars like t he one held last week, are e xpected to continue with t he police targeting groupings that have been fre-q uent repeat victims. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM %4+2674'*17)*6 Crime prevention seminar held for staff of robbery-hit chain S EMINAR: P resenter Sgt Chrislyn Skippings speaks to those in a ttendance. A TEENAGER was killed in Exuma on Friday when the truck he was driving overturned on the Queens Highway in George Town at about 3.15am. Traffic police went from Nassau to Great Exuma on Friday to assist investigations into the crash. Meanwhile Family Island police in Ragged Island continue to search for three men who disap peared at sea on Tuesday night and the diver who was lost while looking for them. Police said the 43ft fiberglass hull fishing ves sel with three men on board started taking on water near Raccoon Cay, 21 miles northwest of Ragged Island between 7pm and 8pm on Tuesday. A search was launched by the Ragged Island Search and Rescue Team with police and local fish ermen. And a 40-year-old man disappeared when he went overboard to search for the missing boaters under water. Anyone with any infor mation that may assist the search effort should contact police as a matter of urgency on 911, 919 or call Crime Stoppers anonymously at 328-TIPS TEEN KILLED AFTER TR UCK OVERTURNS E vent held under theme:HINTS H aving Information Needed to Target Suspects

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B y SIR RONALD S ANDERS (The writer is a Consultant and former Caribbean diplomat) O N December 2, the gove rnment of the Peoples Republic of China posted on its Foreign Ministrys website a response to a comm entary I had written entitled, Chinese take-away? The fact that the governm ent felt it necessary to post its response on its official website is indicative of the sensitivity to the issues that were raised in the commentary. Among the issues was the n eed for a treaty to be negot iated that would set out the relationship between C aribbean Community and Common Market (CARICOM) countries and China on a long term and predictable basis with regard to a id, trade and investment. I t was envisaged that the t reaty would deal with issues s uch as the paramountcy of local laws in relation to the use of labour and industrialr elations among other things. I n its response, the Chinese government said that it agreed with me in the necessity of China and the CARICOM countries deepening their ties of friendshipa nd cooperation via a longt erm and comprehensive framework treaty or the like. Therefore, there is clearly an appetite in the government of China for a bindingt reaty, and one which C aribbean governments would do well to advance while the interest remains. In an earlier commentary than the one to which the C hinese government specifically responded, I had floate d the notion that such a t reaty could be structured along the lines of the original aid, trade and investment agreements (Lom and Cotonou) that were negotia ted with the European U nion (EU 7 9 African, Caribbean and Pacific (ACP Given that China is now v ery active in all three ACP regions and that many coun-t ries in each of them are b eing exercised over how b est to manage the China relationship, it may indeed be appropriate for the ACPt o negotiate the overall t reaty that would govern the relationship with China. Separate protocols to the overarching treaty could cater for the specific circumstances of smaller nations. T he urgency of attending t o Chinas relationship with developing countries and particularly small island states is highlighted in a recent report by the InterAmerican DevelopmentB ank entitled: Ten years a fter take-off: Taking stock of the China-Latin America and the Caribbean Economic Relations. More about the economic relations b etween Latin America and China than the economic r elations between China and t he Caribbean, the report shows that trade between China and Latin America in the period 2000-2008, grew at a breakneck annual rate o f 31 percent, and even duri ng the financial crisis in 2009 t he dynamism remained unabated. As the report states: Hidd en behind the impressive bilateral trade figures of thel ast decade, there is a heavil y skewed distribution of b enefits. As of 2008, approximately 90 per cent of LACs e xports to China were com ing from just four countries in the Southern Cone: Brazil( 41 per cent), Chile (23.1 per c ent), Argentina (15.9 per cent) and Peru (9.3 per cent). Caribbean countries hardly featured as exporters, and their balance of trade remains heavily in Chinasf avour. The report also points out that China-LAC relationship in the last decade has s tood almost entirely on one pillar: trade. The other pillars of a sust ainable process of trade and integrationbilateral investment and cooperationhaveb een developing, but not at C M Y K C M Y K PAGE 8, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Revitalise the ACP for a Chinese deal WORLDVIEW

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C M Y K C M Y K T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM MERCEDES-BENZE-Class, C-Class, CLC-Class & ML-Class Tyreflex Star Motors is the Exclusive Authorized Dealer for Mercedes-Benz, Subaru and Isuzu vehicles. New &Used Cars &Trucks Sales, Parts &Service Call us at 325.4961 or visit our showroom on Wulff Rd today! Top of the Line Performance Vehicles only at Tyreflex Star Motors. TYREFLEX STAR MOTORSCall us today for your new Top of the Line Vehicle at 325.4961Wulff Road, P. O. Box N 9123, Nassau, The Bahamas Fax: 323.4667 SUBARU ForesterISUZU D-MAX Trucks the same pace, leaving room for frictions. C hinese Foreign Direct I nvestment (FDI heavily concentrated in the Southern Cone, with Brazil (41 per cent), Argentina (11 per cent), Peru (12 per cent) and Chile (2 per centa ccounting for 66 per cent o f the investment in 2003. When Venezuela is added to this group, the combined share reaches 81 per cent. The only two CARICOM c ountries, mentioned in the r eport, Guyana and Suriname received US$600,000 and US$24 million respectively over the years 20032009 in Chinese FDI. A ll this suggests that CARICOM countries are not a ggressively pursuing econ omic relations with China in a structured fashion. Each country that has diplomatic relations with China appears to be pursuing ad-hoc, begg ar-thy-neighbour policies. B ut with far fewer resources o f interest to China, CARICOM countries (except Guyana, Suriname andJ amaica which do have resources in which China hasa n interest), CARICOM n ations ought to be trying to e stablish investment and cooperation agreements with China that go beyond trade i n goods. Such a negotiation would not be easy for the CARI C OM region alone, as it w ould not be for the Pacific and certain countries in Africa, although it has to be acknowledged that several African countries have overhauled their trading regimest o make themselves far more competitive than they used to be. In this connection, the A CP Group with an existing Secretariat and experience of harmonising the needs and n egotiating strategies of its member states would be the ideal vehicle to negotiate ano verall trade, aid and investment treaty with China. The basis for doing so is a lready enshrined in the G eorgetown Agreement signed on 6 June 1975 in Guyana that formally established the ACP Group. In the preamble to the Agreement, the governmentso f the Group declared that t hey are desirous of enhancing the political identity of the ACP Group to enable them to act and speak with a single voice in all international fora and organisa-t ions, and they set out a mong their objectives strengthening the political identity of the ACP Group to enable it to act as a coherent political force in internat ional bodies and to ensure that due regard is accorded i ts specific interests and to establish contacts and relations with other States and groups of States. In a world of fierce competition in economic relat ions, and where, increasingl y, small states have to seek a lliances with others to secure the attention they urgently need, the time has come not only to strengthenc ohesion in the ACP Group i n its dealing with the EU, but also to invoke its wider mandate to bargain for its member states as a whole in other economic relations. China would be the rightp lace to start now. I n the past, Caribbean countries have been key players in the formulation of ACP ideas and strategies that have benefitted all three regions. T his could be another such o pportunity. Which CARICOM government will hoist the banner? Jamaica as the current C hairman of CARICOM or Trinidad and Tobago as the c urrent Chairman of the C ommonwealth that embraces many of the ACP countries should make bold and do so. R esponses and previous c ommentaries at: www.sirronaldsanders.com Chinese deal L L a a d d i i e e s s c c l l u u t t c c h h G G y y m m m m e e m m b b e e r r s s h h i i p p M M e e n n s s L L a a n n d d w w a a l l l l e e t t G G i i f f t t B B a a s s k k e e t t J J o o h h n n B B u u l l l l A A u u t t h h e e n n t t i i c c S S t t r r a a w w C C o o r r s s a a g g e e s s P P e e a a r r l l N N e e c c k k l l a a c c e e E E s s t t e e L L a a u u d d e e r r G G i i f f t t B B a a s s k k e e t t P P h h o o n n e e C C a a r r d d s s A A n n d d m m u u c c h h m m o o r r e e A A B B H H R R D D A A C C h h r r i i s s t t m m a a s s E E v v e e n n t t J J . W W h h i i t t n n e e y y P P i i n n d d e e r r B B u u i i l l d d i i n n g g C C o o l l l l i i n n s s A A v v e e . T T u u e e s s d d a a y y , D D e e c c e e m m b b e e r r 1 1 4 4 , 2 2 0 0 1 1 0 0 5 5 : : 3 3 0 0 p p . m m . 7 7 : : 3 3 0 0 p p . m m . RSVP: vblack@bahamaselectricity.com C ost: $20 members $25 non-members

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BAHAMIANfilmmaker Gustavius Smiths short film Contact Zone won the 2010 Bahamas International Film Festival Short Film A ward at the festival's closi ng night ceremony at the Atlantis Resorts and Casino. Mr Smith was the recipient of BIFFs Filmmaker Residency Award in 2007 for his screenplay Built forL oad. The story featured a y oung Bahamian man who runs a load of cocaine to pay for his mother's life saving operation. Since being recognised by BIFF in 2007, Mr Smith hass pent time perfecting his c raft. Long after the money w as gone I still had the conf idence I gained from winn ing the residency award. I d edicated myself to becom ing a better writer and finding my directing voice. The p roduction value, the acting a nd the script in my latest s hort demonstrates that I have what it takes to prod uce a theatrical feature at the highest level, said Mr Smith. The genius of my desire t o make films started right h ere at The Tribune, writing news about Bahamians. With my college background in theatre, the rigors of writing news stories on a daily basisr eally prepared me for this career, he said. Contact Zone, the film winning BIFFs most coveted short film prize, is the story of a janitor and curator who h ave a one night stand duri ng the opening reception at an art gallery in New YorK City. E ven though they are coworkers the curator doesn't recognize the janitor until t he following morning at work. To get him fired, she claims her purse was stolen but the janitor is also arrest e d and deported. The short film category was the most competitive at the festival with over 39 international and local films. The judges said that Cont act Zone introduces a new d ialogue about race from both sides. The film was shot in New York City with professional actors and crew with a budget of over $50,000 and sinces tarting its festival run this s ummer has received the Best Narrative Short Award at the Williamsburg International Film Festival in Brooklyn, NY, and an Honourable Mention at the Mon-t real International Film Fest ival. Contact Zone is the first s equence of a feature film S mith hopes to go into prod uction this summer entitled Heading North. He is cur rently looking for investors to fund the films million doll ar budget. T he main character in his s hort film will become one of the main co-characters in t he feature film. The cast is expected to feature local and international actors, withf ilming locations in Haiti, the B ahamas and West Palm B each. Heading North is the story of Valerie, a Haitian teenage girl, who risks her life to reunite with her moth e r. After leaving Haiti on a boat bound for Miami, Valerie finds herself on a treacherous journey stuck in a human trafficking ring in The Bahamas. It's a gripping narrative o f determination and family bonds where human traf fickers prey on the hopes of m igrants. While untold numbers of islanders perish on these hope journeys north, V alerie's story gives us a window to the world of modern day slavery and an ambitious story of survival, said M r Smith. C M Y K C M Y K LOCAL NEWS PAGE 10, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Contact Zone puts Bahamian filmmaker in the spotlight A WARD-WINNING: G ustavius Smith

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C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 11 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By DENISE MAYCOCK Tribune Freeport Reporter d maycock@tribunemedia.net F REEPORT Police in the Eight Mile Rock Division conducted its final walkabout in that settlement, distributing fly e rs with safety tips to residents and business owners in the Hanna Hill and Bartlett Hill areas. Supt Christopher Pickstock, o fficer in charge of the Eight M ile Rock Division was a ccompanied by ASP Loretta M ackey, Corporal Christina K ing, and officials from Road Traffic officials, and Urban Renewal. In view of the number of housebreakings and armed robberies on the island, Ms Mackey said it is important that persons are vigilant, especially during the Christmas holi day. She said business persons s hould make frequent deposits. Individuals should not have l arge sums of cash on them, a nd when making deposits they should not take the same r oute daily, she added. A SP Mackey said if persons suspect that they are being followed they should drive to the nearest police station for assistance or to a gas station. She said residents should take measures to secure their property, and personal items, such as jewellery, cellular p hones, laptop computers, from criminals. M s Mackey said criminals a lso target persons at stores, A TM machines, and banks. Residents should be very aware of their surroundings, s he said. POLICE CONDUCT EIGHT MILE ROCK WALKABOUT By MIKELIGHTBOURN A RESTAURANT in the east p aid 50 per cent more than fair m arket value for land adjoining i ts existing property which it needed for parking. In another transaction, a couple in an Out Island a greed to accept $50,000 less than fair market value for their modestly priced home. O nce fair market value is established on real estate, other factors such as availability and time pressure may influence the f inal sales price. The restaurant wanted additional property to use for much needed parking for p atrons. This adjacent property was the only suitable option. Thus the adjacent land held more value for the restaurant because of its location, a nd they were willing to pay the extra price. The couple accepted less than fair value for t heir home and this exemplifies the concept of time pressure. The husband was offered a promotion backi n Nassau. T hey were anxious to move to take advantage of the better offer and they needed to sell the home to buy one in Nassau. They weighed a higher selling price for their home against a fast move to the new job.T he new job won out, resulting in a lower than fair market value sale price. Keep in mind that even when the f inal sale price of real estate is high er or lower than fair market val ue, both buyer and seller may experience c omplete satisfaction with the transaction. Tip of the week: Remember. Circum s tances alter cases. (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty) Real Estate:More or less!

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Dr Hanna said: As with any other EMS department delays may be experienced from time to time when all units are engaged. Our usualh igh call volume is further i ncreased by the rise in violent crime presently occurring in New Providence. The first shooting on Friday was reported at Eneas Street off Poinciana Drive. Am an was said to have received m ultiple gunshot injuries after he was approached by another man with a dreadlocks hairstyle, who was armed with a firearm. The second shooting took place at Hutchinson Street w here a man was shot in his r ight leg. The victim was a pproached by three men in a silver coloured Honda, one of whom got out of the vehicle armed with a handgun and started shooting in his direction. I n November, the police w ere said to have recovered m ore than 270 illegal weapons and more than 6,000 rounds of ammunition. Last Thursday, the fatal shooting of Charles Minns,3 4, at Farrington Road p ushed the homicide count to 9 2. The countrys former homicide record of 87 was broken late last month for the secondc onsecutive year. In face of these challenges, the department was said to be a ctively pursuing a number of i nitiatives, among them the p urchase of five new ambul ances which are expected to arrive by March of next year. Dr Hanna added: We have as an ongoing initiative to procure equipment and supplies for the department t hat will enable us to better s erve the public. The PHA is in the process of ordering additional equipment such as heart monitors, stretchers and supplies for oxygen administration. I n partnership with the M iami-based Jackson Memorial Trauma Centre, the department is also working to incorporate telemedicine by mid-2011. The technology, which will f eature camera monitoring on a mbulances, is expected to i mprove medical services available to emergency patients en route to the hospital by allowing viewing for physicians in the Accidenta nd Emergency Department. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 13 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Crawford Loss Adjusters(Now Claims Resolution Ltd.Is not going anywhere, Will not be erased or disappear. We will continue to serve. Others must learn to co-e xist or they go away, very clear on that. NOTHING IS CONSTANT BUT CHANGE. Kindly Back Off, Cease, Desist and Respect Civil Liberty. Others must know better or ought to know better.Happy New Year!Tel: 676-3591 / Fax: 676-3630Original PioneerREVOLUNTIONARY Dr Alvery Hanna, NEMS director said: The PHAs d isciplinary committee has found insufficient evidence to warrant dismissal of these staff members and they have returned to work. Meanwhile, the department plans to roll out a series of initiatives next year that they feel will decrease current challenges to care provided. In an effort to circumvent delays in customer service a nd other issues that may affect emergency response t imes, the position of Shift Supervisor will be intro duced. Dr Hanna said: The presence of shift supervisors will e nhance the monitoring of all activities of NEMS with a view to addressing any challenges that may arise, particularly those that may result in delays and those that relate to customer service. I n addition to five new vehicles, the department is a lso working to incorporate telemedicine by mid-2011 through a partnership with the Miami-based Jackson Memorial Trauma Centre. T he technology, which will feature camera monitoring on ambulances, is expected to improve medical services available to emergency patients on their way to the hos pital by allowing viewing for physicians in the Accidenta nd Emergency Department. Dr Hanna added: In our efforts to decentralize the EMS in New Providence and improve our response time to the out-lying regions of the island, we have undertak-en in association with the Nassau Airport Development company to have an ambulance dispatched from the Lynden Pindling International Airport during regular working hours. Huge increase in gunshot victims FROM page one P aramedics accused of extorting tourists return to work FROM page one

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C M Y K C M Y K LOCAL NEWS PAGE 14, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM However, when the PLP took office in 2007 an attempt was made toamend the Act to lessen the fines for offenders. The proposed amendments never became law u nder the PLP. The 2002 Act, which is the law, will now be strictly enforced. S ection 42 of the Road Traffic Act, chapter 220, provides that any person d riving a motor vehicle m ust be secured by a seat b elt and must ensure that a ny passengers in their car a re similarly secured. Children under five m ust be in child safety seats and secured in the car's back passenger seats. A ny driver of a motor vehicle who drives witho ut a seat belt or allows a passenger in such a vehicle to ride without a seat b elt commits an offence a nd is liable on summary c onviction to a fine of $300. A passenger who rides in a vehicle without a seat belt commits an offence and is liable on summaryc onviction to a fine of $ 100. A ny person found driv ing a motor vehicle at the time of breach, who permits a child to ride without a seat belt or secured in a child seat will be liable upon conviction to a fine of $500 under the A ct. T hese provisions will not apply to motorcycles, t ractors, buses and trucks, except for the driver's seat and the person sitting in the front passengers seat. p rocess, completed a process a nd agreed to sell 49 per cent for $260 million Thisg overnment has decided to s ell 51 per cent for $210 mil lion and we thought they had short changed the Bahamian public. The pre v ious PLP administration came close to a $260 million sale of 49 per cent of BTC toB luewater Ventures Limit ed. Mr Christie said that it had always been the inten t ion of his administration for t he Bahamian people to retain ownership of BTC. We were not going to put the country in a risky posi-t ion where we put Cable and Wireless as a 51 per cent shareholder and find out that that was a bad mistake and we had to get ourselves out of it and that is the problem with this decision moving forward. So from our point of view we would have been getting the benefits of privatization. We were also doing it on the basis that we were going to have a Bahamian led enterprise whose intention it was to move from the Bahamas and if possible go into Haiti, Cuba and go to the rest of the Caribbean, leaving the Bahamas as a dominant place for this particular company, Mr Christie said. Mr Christie further explained, We inherited the bidding process of the FNM government in 2002. W e allowed that to continue to an end where we rejected a price from the winning company that was recom m ended by the consultants t he FNM government had hired. They recommended that we accept $140 million, we rejected that. We were committed ourselves to pri vatization and selling 49 per cent. We then re-appointedt he privatization committee which included both unions of Batelco and headed by the financial secretary. Weh ad a number of foreign experts to advise my gov ernment. We went with a v ery transparent process. W e discussed with all the companies interested. Ultimately we were advised to negotiate with a company called Bluewater, Mr Christie said. The government agreed to pay Bluewater $1.9 mil lion to settle an arbitration claim which alleged that the current Free National Movement administration violated the proposed deal the investment company reached with the last Pro gressive Liberal Party administration to buy 49 per cent of BTC. The Ingraham administration in defense of its decision in relation to Bluewater has stated that the company was foreign entity with no experience in the telecommunications sector. SEEPAGEFIVE million plus taxes. We are not going to back up from this. We are going to do all that is necessary. The government is supposed to listen to the voice of the people, Mr Evans said. Last week during a mass r ally at the end of two days of industrial action by hundreds of B TC workers, union executives threatened to disrupt work at a ll government corporations and companies across the country if control over BTC does not remain in the hands of Bahamians. Nothing is off the table, Mr Evans said in reference to the threat. Mr Evans said union executives have not met with C&WC CEO David Shaw and do not want to do so. Mr Shaw last week denied claims that the government is selling BTC in a "fire sale," claiming that the $210 million price tag is just. This company (CWC Their track record speaks for itself. We have asked the gov ernment to show us where they have changed, Mr Evans s aid. BCPOU executives are expected to appear in court on Tuesday in relation to what the government called an illegal work stoppage. They have no grounds to stand on, said Mr Evans. No c ourt injunction is going to stop this momentum. We feel good about this, Mr Evans said. Last week, in an attempt to avert further industrial action BTC executives secured an injunct ion from the Supreme Court, forcing hundreds of disgrun tled employees back to work. Seatbelt law comes into effect today FROM page one FROM page one Unions are not backing down over BTC sale F ROM page one Christie:government has shortchanged public over proposed BTC sale

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C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 15 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Union. "Speaking from my (experience) as a trade unionist I don't think that was the right action to take, it's premature because there is no final a greement at this time (over BTC's sale)," said Mr Douglas, who stressed that he was trying to help the unions involved, not lambaste them. "The union leaders must be very careful because I have had this experience where one of our executives went a nd pulled employees (off the job) out in Grand Bahama and the (company's went to court and sued the union for revenue they lost for that action," he added. He explained that union executives should have polled its members for a strike vote a nd had a cooling off period before industrial action could begin. "You can't just go on the streets and take things in your hands before you know what's going on. It's not a criticism, it is trying to help. The law is clear it says before you can take any strike a ction, legally you have to go through the conciliatory process, take a strike vote and take a cooling off period. You can't speak for your union until you get that vote from membership. Encouraging employees to illegally walk off the job will c reate "anarchy in this society. Everyone will think you can just come and go how you like," Mr Douglas added. Meantime employees of BTC which has been dogged with complaints of poor service, jammed net works and overbilling s hould focus on productivity and customer service instead of walking off their jobs during this period of high unem ployment, he said. "Many citizens of this country do not agree with that (industrial action Freeport, and if you walk the streets people are upset. Don't play with your job, give the best service that you can to the consumers in times likes these when people are praying for a job." Last Tuesday and Wednesday hundreds of BTC employees did not work, staging marches and motorcades in protest of the conditions of sale of the telecommunications company. Instead of organising more protests the unions should accept Cable & Wireless' invitation to sit down and discuss how to protect BTC employees, Mr Douglas said. "Every union has an indus trial agreement and it sets out the relationship with employees and I'm sure the union of BTC is not any different. It must have a clause in it which speaks of change of ownership. "If the CEO of Cable & Wireless says 'Come meet with me' that means the fella has good intentions." Mr Douglas, who has more than 40 years experience as a trade unionist, added that he is satisfied that the Cable & Wireless deal is a good one for the country. "I have all confidence in the present prime minister that he will not do anything to hurt the Bahamian people. I don't know why people believe that they are more Bahamian than certain people and no one is more Bahamian than Mr Ingraham, he was like me going to school with nothing to eat, some of our people who talking never know a hard day in this country. I have all confi dence in Mr Ingraham that he will do the best for the Bahamian people," Mr Dou glas said. Former trade unionist hits out at prematur BTC industrial action F ROM page one

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STOCKHOLM NO ONEdied except the suspected bomber, but two explosions in Sweden's capital tore at the fabric of this tolerant and open nation a society that hadn't seen a terrorist attack in more than three decades, according to Associated Press. Two people were wounded in central Stockholm on Saturday in what appeared to be the first suicide bombing in the history of Sweden, which has been spared the major terrorist strikes seen in several other European countries. A car exploded in the middle of the seasonal shopping frenzy, shooting flames and causing several smaller blasts as people ran screaming from the scene. The blast that killed the alleged bomber came moments later further a few blocks away on a busy pedestrian street. Experts said the alleged bomber probably didn't succeed in detonating all the explosives and could have caused much greater damage. While police haven't confirmed that Saturday's attack was motivated by Islamist views, an audio file sent to Swedish news agency TT shortly before the blast referred to jihad, Swe den's military presence in Afghanistan and a cartoon by a Swedish artist that depicted the Prophet Muhammad as a dog, enraging the Muslim world. It hasn't been verified that the speaker is the person who set off the explosive, but police have said they are investigating that possibility. "Now the Islamic state has been created. We now exist here in Europe and in Sweden. We are a reality," the voice said in the file, submitted to The Associated Press by TT. "I don't want to say more about this. Our actions will speak for themselves." Swedish Prime Minister Fredrik Reinfeldt said Sunday the attack was "unacceptable" but urged Swedes not to jump to "premature conclusions" that "create tension which paints pictures that are then difficult to change." "Sweden is an open society ... which has stated a wish that people should be able to have different backgrounds, believe in different gods ... and live side by side in our open society," Reinfeldt said at a news conference. Swedes, with a tradition of welcoming immigrants and a culture of transparency, began questioning the veracity of their self-image as a secure nation after the 1986 murder of Prime Minister Olof Palme. In 2003, the fatal stabbing of Foreign Minister Anna Lindh in an department store was another wake-up call. But there have been no major terrorist strikes. We had a terrorist attack in the 1970s from the Rote Armee Friktion of Germany, but if this is a suicide bomber it is the first time in Sweden," security police spokesman Anders Thornberg told The Associated Press. "It's very serious and it's very tragic that these things have come to S weden too." On Sunday, the pedestrian district where the explosions occurred was eerily quiet and empty for a mid-December weekend. "We're used to seeing things like this on the news. This was a lot closer to home but it stilld oesn't feel very tangible," said Eric Osterman, a 26-year-old student. German tourist Melanie Ziethmann, 34, said she heard the bang of the explosion Sat urday but didn't realize what it was until a friend in Germany contacted her to make sure she was OK. "We were surprised that this happened in Sweden," Ziethmann said. "It was quite shocking. I thought it was very safe here." In October, Sweden raised its terror threat alert level from low to elevated because of what police called "a shift in activities" among Swedish-based groups that could be plotting attacks. Days later, police made several arrests in an alleged bomb plot in the country's secondlargest city, Goteborg. The sus pects were later released and police said the city was no longer deemed under threat. Magnus Norell, a terrorism e xpert at the Swedish Defense Research Agency, said it was just a matter of time before Sweden was hit by a terrorist attack. "Sweden isn't an isolated island, even if we might think that sometimes," he said. "We have only been lucky so far." Norell said Sweden has the s ame growing radicalization among Islamic groups as other countries, with young men traveling to training camps in countries such as Somalia and Pakistan. "The whole idea is that this is a global war for them and that the target exists everywhere, allo ver the world," he said. The 2007 drawing of the Prophet Muhammad by Lars Vilks has raised tensions before in Sweden. In May, Vilks was assaulted while giving a speech in Uppsala, and vandals unsuccessfully tried to burn down his home in southern Sweden. C M Y K C M Y K INTERNATIONAL NEWS PAGE 16, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM EMERGENCY SERVICES attend the scene after a car exploded in the center of Stockholm on Saturday. Two separate explosions shook a busy shopping area in central Stockholm on Saturday, injuring twop eople and leaving one person dead, rescue officials said. (AP Swedes shocked by nations first terror attack in three decades

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CARACAS, Venezuela U.S. DIPLOMATSdiscussed efforts to counter Venezuelan President Hugo Chavez's influence in Latin America and tried to dissuade Russia from shipp ing anti-aircraft missiles to his government, according to classified documents released by WikiLeaks, according to Associated Press. One secret 2008 document from the U.S. Embassy in Colombia said then-Colombian President Alvaro Uribe urged t he U.S. government "to lead a public campaign against Venezuela," and it said the presidents of countries such as Mexico, Panama and Costa Rica were "natural leaders to counter Chavez." The document, dated Jan. 28, 2008, and posted online Friday, w as one of several leaked in the past week that discussed efforts to marginalize Chavez internationally and prevent arms shipments. The friction between Washington and its most vociferous opponent in Latin America has been public and notorious, but the newly released messages reveal glimpses of behindt he-scenes U.S. diplomatic efforts against Chavez. An earlier secret U.S. memo, from the embassy in Santiago, Chile, on June 18, 2007, showed American officials were analyzing "ways the U.S. can counter Chavez and reassert U.S. leadership in the region." The e mbassy document offered a host of suggestions to Washington and other U.S. embassies. "Know the enemy: ... To effectively counter the threat he represents, we need to know better his objectives and how he intends to pursue them. This requires better intelligence in a ll of our countries" on issues such as Venezuela's close rela tionship with Iran, it said. The 2007 report, released Thursday by WikiLeaks, said ifsuch U.S. efforts are successful, "we will make quick inroads into marginalizing Chavez's influence." It also said U.S. diplomats should aim to make sure "the truth about Chavez his hollow vision, his empty promises, his dangerous inter national relationships starting with Iran ... gets out, always exercising careful judgment about where and how we takeon Chavez directly/publicly." Other newly released docu ments suggest American diplo mats have been privately expressing concerns to Russian officials since at least 2005 about some of Chavez's multibilliondollar arms purchases which have included Russian-made helicopters, warplanes, tanks and 100,000 assault rifles. A secret Feb. 14, 2009, memo from Secretary of State Hillary Rodham Clinton's office to theU.S. Embassy in Moscow said the American government had been raising concerns with Russian officials for four years about a possible sale of weapons including shoulder-fired Igla-S surface-to-air missiles. It said "Igla-S (SA-24 one of the most lethal portable air defense systems ever made," and that American officials feared it could end up in the hands of the leftist guerrillas of the Revolutionary Armed Forces of Colombia, or FARC, due to corruption and alleged Venezuelan links to the rebels. "We fear that should these sophisticated systems fall into the hands of the FARC, they could possibly be sold or traded to drug organizations, including those in Mexico, which are actively seeking to acquire powerful and highly sophisticated weapons for use against gov ernment forces," the memo said. Another leaked communique dated Aug. 10, 2009, shows that the U.S. State Department tried to enlist help from Spain and Sweden to raise its concerns with Russia. It said "Sweden and Spain are well positioned ... to urge other EU members, as well as Russia, to strengthen transparency and accountability in arms exports to Venezuela." It included talking points for the embassies in Stockholm and Madrid. It's unclear what results, if any, those diplomatic efforts yielded, or what came of the U.S. diplomats' talk of stepping up efforts to marginalize Chavez internationally in 2007. A memo from Clinton's office on Aug. 6, 2009, said Russian officials had informed their American counterparts of the transfer of 100 Igla-S missiles to Chavez's military. It said that Russian officials assured Amer ican diplomats that "transfers from Venezuela to the FARC cannot take place." It's unclear how many of the weapons Chavez has obtained, but in December 2009 he said publicly that his military had obtained thousands of them. Chavez, a leftist former army paratroop commander, has denied aiding the FARC and has called for an end to the neighboring country's decadeslong conflict with the rebels. He has said he is equipping his military to defend against any possible U.S. threat an idea American officials have repeat edly dismissed. He has not responded in detail to the documents divulged by WikiLeaks but has said that they show "the immense effort of the United States ... to try to isolate the Bolivarian Revolution and this soldier here." Chavez, who says he is leading Venezuela toward socialism, has crusaded against U.S. "imperialism" while drawing close to countries such as Iran, Cuba and Syria. A secret memo from Clinton's office, dated March 24, 2009, informed the American embassy in Turkey that Venezuelan officials were expecting a shipment of drone aircraft "unmanned aerial vehicles ... and related material from Iran" to arrive in a shipment via Turkey. I t was unclear whether that shipment ever arrived, but the memo asked diplomats to urge the Turkish government, a NATO ally, "to take action against this shipment." The documents released so far show that American officials also have been closely analyzi ng Chavez's political vulnerabilities and his standing abroad and that some officials of other countries have shared unflattering assessments. An October 2009 memo showed that Mexican President Felipe Calderon told a U.S. official last year that Latin America needs a visible U.S. presence" to go up against Chavez's growing influence. The U.S. Embassy in Madrid reported on July 21, 2008, that Spanish diplomat Trinidad Jimenez now the country's foreign minister described Chavez as "a brute, but not a stupid one." Another embassy r eport, from Nov. 6, 2007, said that Jimenez "described Chavez as being in 'another world.'" C M Y K C M Y K INTERNATIONAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 17 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Documents: US aimed to counter Chavez, arms deals WIKILEAKSRELEASES VENEZUELANPRESIDENT: Hugo Chavez (AP

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CANCUN, Mexico NEARLY200 environment ministers and other delegates moved late Friday toward wrapping up an annual U.N. climate conference with a package of decisions on modest steps, including a fund to help poorer nations cope with global warming, according to AssociatedPress. In a late-night open session, country after country endorsed the latest compromise texts to emerge from two-week-long talks that went virtually nonstop since Thursday, describing them as key to restoring momentum and trust in the U.N. climate negotiations. "What we have now is a text that, while not perfect, is certainly a good basis for moving forward," said chief U.S. negotiator Todd Stern. His Chinese counterpart, Xie Zhenhua, sounded a similar note and added, "The negotiations in the future will continue to be difficult." T hose two nations, the world's biggest emitters, will be a t the center of those future negotiations, as the Cancun talks, once again, did not take up proposals for a grand compact mandating deep cuts in global warming gases. Underscoring what's at stake i n the long-running climate talks, NASA reported that the J anuary-November 2010 global temperatures were the warmest in the 131-year record. Its data indicated the year would likely end as the warmest on record, or tied with 2005 as the warmest. B olivia and Cuba criticized the draft accords, raising the possibility that one or both might block consensus agreement. But it remained to be seen whether their concerns could be allayed by modifying the text in further consultations early Saturday, and whether they would act to prevent adop tion of the decisions. The cross-cutting interests of rich and poor nations, tropical and temperate, oil producers, desperate islanders and com fortable continental powers, all combined once more to tie up the annual negotiating session of environment ministers past its 6 p.m. Friday scheduled fin ish. After many hours behind closed doors at a sprawling beachside resort hotel, leaders of the negotiating groups submitted the latest, slimmeddown versions of the main proposed texts for review. "We are almost through this process," Mexican Foreign Sec r etary Patricia Espinosa, the conference president, told delegates. Negotiators earlier reported progress on the key issue of the Green Climate Fund, which is to aid developing nations obtain clean-energy technology for cutting their own greenh ouse gas emissions and adapt to potentially damaging climate change by shifting agricultural practices, for example, and building seawalls against the rise of warming seas. In the "Copenhagen Accord" that emerged from last y ear's climate summit in the Danish capital, richer nations promised $100 billion for such a fund by 2020. "There is a consensus that we set up a climate fund," Bangladesh's state minister for environment, Mohammed Hasan Mahmud, reported Frid ay. Details of the fund's oversight were left to post-Cancun negotiations, and the eventual sources of the financing were not identified. A U.N. advisory panel had suggested placing levies of some kind on the fuel or emissions of airlines and merchant shipping, but such a proposal was dropped during the nego tiations here. Mahmud lamented that once again a hoped-for overarching pact to slash global emissions was being deferred at least another year, to the 2011 conference in Durban, South Africa. "I doubt if the Durban (con ference) will deliver the desired level of results if the negotiations go the way we have been going through here," he said. Bolivian chief negotiator Pablo Solon was more sharply critical of the eleventh hour proposed text: "We have before us a document of 'take it or take it.'" Other issues that faced intense last-minute negotiation: Setting up a global struc ture to make it easier for devel oping nations to obtain patent-e d technology for clean energy and climate adaptation. Pinning down more elements of a complex, controversial plan to compensate poorer nations for protecting their climate-friendly forests. Taking voluntary pledges of emissions controls made u nder the Copenhagen Accord by the U.S., China and other nations, and "anchoring" them in a Cancun document, giving them more formal U.N. status. Agreeing on methods for monitoring and verifying that developing nations are fulfilling those voluntary pledges. U.N. officials had described these secondary items as building blocks" to restore momentum to the U.N. process after the failure of last year's climate summit in Copenhagen to produce a long-anticipated global emissions-cutting pact. In the 1992 U.N. climate treaty, the world's nations promised to do their best to r ein in carbon dioxide and other heat-trapping gases emitted by industry, transportation and agriculture. In the two decades since, the annual conferences' only big advance came in 1997 in Kyoto, Japan, when parties agreed on modest mandatory r eductions by richer nations. But the U.S., alone in the industrial world, rejected the Kyoto Protocol, complaining it would hurt its economy and that such emerging economies as China and India should have taken on emissions obligations. Since then China has r eplaced the U.S. as the world's biggest emitter, but it has resist ed calls that it assume legally binding commitments not to lower its emissions, but to restrain their growth. Here at Cancun such issues came to a head, as Japan and Russia fought pressure to acknowledge in a final decision that they will commit to a sec ond period of emissions reductions under Kyoto, whose current targets expire in 2012. The Japanese complained that with the rise of China, India, Brazil and others, the 37 Kyoto industrial nations now account for only 27 percent of global greenhouse emissions. They want a new, legally bind ing pact obligating the U.S., China and other major emitters. The upcoming takeover of the U.S. House of Representatives by the Republicans, many of whom dismiss strong scien tific evidence of human-caused warming, rules out any carboncapping legislation for at least two years, however. While the decades-long talks stumble along, climate change moves ahead. The atmosphere's concent ration of carbon dioxide now stands at about 390 parts per million, up from 280 ppm before the industrial age. Scientists project average global temperatures, which rose 0.7 degrees C (1.3 degrees Fahrenheit) in the 20th century, will jump by as much as 6.4 degrees C (11.5 degrees F too little is done. The U.N. Environment Program estimates the voluntary Copenhagen pledges, even if fulfilled, would go only 60 percent of the way toward keeping the temperature rise below a dangerous 2 degrees C (3.6 degrees F) above preindustrial levels. C M Y K C M Y K INTERNATIONAL NEWS PAGE 18, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Climate talks nearing deal on small steps GREENPEACE ACTIVISTS form the word hope as a question with t heir bodies, next to a giant life saver, during a demonstration near t he site of the United Nations Climate Change Conference in Cancun, Mexico. (AP

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C M Y K C M Y K INTERNATIONAL NEWS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 19 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Madoff's eldest son hangs himself in NYC apartment NEW YORK HE WASnever charged in the case that sent his father to prison after thousands were swindled of their life savings, but for two years, the eldest son of disgraced financier Bernard Madoff still bore the toxic burden of a name that meant fraud to the world, according to Associated Press. On Saturday, the second anniversary of the day his father was arrested in the worst investment fraud in American history, Mark Madoff, 46, was found dead in the living room of his SoHo loft apartment in Manhattan. He was hanging from a black dog leash while his 2-yearold son slept nearby. People close to him said he was despondent over press coverage of his father's case, an ongoing criminal investigation of Madoff family members in the multibillion-dollar scheme and his struggle to rebuild his life. The intense scrutiny approaching the anniversary "became too much for him," saida person who had recent contact with him, speaking on con dition of anonymity because of the sensitivity of the case. Mark Madoff's wife, Stephanie, sent her stepfather to the couple's $6 million (euro4.5 million) apartment after he emailed her at Disney World in Florida, where she was vacat ioning with their 4-year-old daughter. In the messages, he told her he loved her and that someone should check on their 2-year-old child, Nicholas, police said. He left no suicide note. The person who had recent contact with Madoff said he was struggling to find steady employment and was upset by coverage of his father's case, including a slew of stories in the past week about investor lawsuits. "Mark Madoff took his own life today. This is a terrible and unnecessary tragedy," his attorney, Martin Flumenbaum, said in a written statement. "Mark was an innocent victim of his father's monstrous crime who succumbed to two years of unrelenting pressure from false accu sations and innuendo." Mark Madoff and his brother Andrew, who notified authori ties their father had confessed to them the day before he was arrested on Dec. 11, 2008, have said they were unaware of his crimes. But they have remained under investigation and been named in the multiple civil lawsuits accusing them of profiting from the scheme. Another law enforcement official said Saturday that Madoff's arrest was not imminent, and that investigators pursuing possible charges against him, his brother and uncle hadn't contacted him for more than a year. The official wasn't authorized to speak publicly about the case and spoke on condition of anonymity. A lawyer for Mark's mother, Ruth Madoff, said, "She's heartbroken." The lawyer, Peter Chavkin, had no further comment. Bernard Madoff, 72, swindled a long list of investors out of billions of dollars. He admitted that he ran his scheme for at least two decades, cheating thousands of individuals, charities, celebrities and institutional investors. Losses are estimated at around $20 billion (euro15 billion ing it the biggest investment fraud in U.S. history. He is serving a 150-year prison term in North Carolina. The scandal has resulted in a half dozen arrests of Madoff associates and put a harsh light on members of the family, which has splintered since Madoff's arrest. Both brothers hadn't spoken to their parents since they turned their father in. MARK MADOFF is shown. AP Photo/Security Traders Association of New York, Kimberly Unger

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By NEIL HARTNELL Tribune Business Editor A LEADING g overnment minister believes it is too ear ly to say that the Ingraham a dministrations 2010-2011 Budget tax increases have failed to produce the desirede ffect, even though tax revenues for the first quarter of the fiscal year dropped by 1.4 per cent to $241.3 million, inc omparison to 2009-2010 figures. Zhivargo Laing, minister of state for finance, commenting on the release of data by the Central Bank of the Bahamas, told Tribune Busi-n ess that revenues for the first quarter of the 2010-2011 fiscal year could not be taken as a true reflection of whether the Governments Budget tax increases had worked or not. Arguing that a more detailed analysis or break down of the Governments revenues was required before any conclusions were drawn, Mr Laing told Tribune Business that Excise Taxes an area of the Budget that had seen significant tax increases, especially with the changes to auto industry and liquor duty structures and rates had increased slightly year-overyear to date. His comments came as the Central Bank revealed that the Governments fiscal deficit for the 2010-2011 first quarter, which represents thet hree months to September 30, 2010, widened year-overyear by $10.8 million or 10.7p er cent to $111.5 million, while the national debt hit a new record of $4.139 billion. Asked whether the 20102 011 first quarter figures showed the Governments tax C M Y K C M Y K SECTIONB business@tribunemedia.net MONDAY, DECEMBER 13, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $4.30 $4.45 $4.34 By NEIL HARTNELL T ribune Business E ditor GRAND BAHAMA PORT AUTHORITY( GBPA) officials have feared for almost a decade that assigning its rights to licence/regulate telecommunications entities in the Port area to government regulatory agencies would require us to breach the Hawksbill Creek Agreement, with the Ingraham administration having reiterated last year its intent to use moral suasion to a chieve this outcome. D ocuments filed with the Supreme Court in relation to the dispute betweenC able Bahamas and the Utilities Regulation & Competition Authority ( URCA) over the latters e fforts to collect Internet licence fees from the former based on its Freeportd erived revenues disclose the more than decade-long struggle to reconcile theG overnments national t elecommunications/communications regulatory regime with the GBPAsr ights under the Hawksbill Creek Agreement. The Governments cur r ent position is set out in two letters sent late last year to the GBPA and its legal advisors by DavidD avis, permanent secretary in the Prime Ministers Office, in which he states: The Governments position is that there should be a single regulator for the e lectronic communications s ector of the Bahamas. Adding that the Bahamas Telecommunica t ions Company (BTC post-privatisation was expected to continue oper-a ting in Freeport under the current licensing regime, Mr Davis added: Having By NEIL HARTNELL Tribune Business Editor CABLE BAHAMAStwo-year r unning battle with regulators over w hether it should pay $78,747 worth of Internet licensing fees generated by its Freeport business finally goes to trial in the Supreme Court early in the New Year, the issue highlightingt he Grand Bahama Port Authoritys (GBPA that this plus the Hawksbill Creek Agreement could be breached by the national communications supervisory infrastructure. T ribune Business can now expose the full extent of the dispute between Cable Bahamas and its affiliate, Cable Freeport, and the Utilities Regulation & Competition Authority (URCA with documents filed in the Supreme Court revealing just how concerned G BPA officials have been since 1999 t hat attempts to create a Bahamaswide telecoms/communications regu latory regime could erode both its r ights to licence this industry in Freeport and require us to breach t he Hawksbill Creek Agreement ( see o ther story on Page 1B) The huge bundle of documents obtained by Tribune Business showt hat Cable Bahamas initially filed its application for Judicial Review of the t hen-Public Utilities Commissions (PUC alleged outstanding licence fees together with the interest accrued thereon on revenue earned..... from the provision of public Internet services within the Port area on GrandB ahama on January 14, 2009. The matter is finally set to go to trial between January 24-28, 2011, in Freeport before Supreme Court Justice Hartman Longley, Cable Bahamas and its Freeport affiliate h aving already obtained an almost two-year injunction to prevent the P UC and its successor, URCA, from imposing sanctions upon [Cable Bahamas] and from otherwise suspending or revoking the applicants By NEIL HARTNELL Tribune Business Editor THE Bahamian electronic communications industry bucked the 4.3 per cent economic contraction in 2009 by producing a 3 per cent total revenue increase, from $445 million to $460 million, with the sector regulator granting 127 out of 149 licence applications received that year. Unveiling its three-year strategy and annual plan for 2011, By ALISON LOWE B usiness Reporter a lowe@tribunemedia.net MOMENTUM to f orm a national coalition o f services industries in the Bahamas is reviving, with the expectation that such a body will play ak ey role in enhancing Bahamian suppliers ability to compete abroad and lobby on issues such as foreign trade deals that affect them. Winston Rolle, execut ive director and former p resident of the Bahamas Chamber of Commerce, said the move to form the coalition which heh ad previously pushed for during his term as Chamber president was inspired in large part by recognition of a need for greater unity among service industries in the Cable battling URCA on Freeport Internet fees Supreme Court to hear Judicial Review matter over alleged $ 78k in outstanding fees in January 2011, with BISX-listed firm a lleging regulator acting ultra vires Matter goes to heart of conflict between Grand Bahama Port Authority regulatory powers and those of government and n ational regulators Claim URCA demands would contravene Hawksbill Creek Agreement and undermine Pors alleged right to licence telecoms operators in Freeport Cable says URCA/PUC demands would subject it to double t axation and have dire economic consequences for the Port area SEE page 5B GOVERNMENT: MORAL SUASION ON PORT TELCOS L ICENCE IMPASSE SEE page 4B COMMUNICATIONS SECTOR REVENUES UP 3% TO $460M Industry bucks 4.3% economic contraction, with 127 out of 149 new licence applications granted in 2009 New international connectivity provider licensed URCA budget for 2011 expands by over 9% to more than $5m SEE page 8B oo early to sa tax policy failed Minister reacts after tax r evenues fall 1.4% in 20102011 first quarter despite Budget tax rises F iscal def icit e xpands 11% to $111.5, while national debt hits $4.14bn record MINISTER OF STATE FOR FINANCE: Zhivargo Laing SEE page 7B RENEWED FOCUS ON SERVICES COALITION SEE page 5B By ALISON LOWE B usiness Reporter alowe@tribunemedia.net BAHAMIAN engineers will travel to Jamaica, then to Europe, in a bid to achieve the recognition necessary to enable them to take their skills abroad under the terms of the Economic Partnership Agreement (EPA Quintin Knowles, Bahamas Society of Engineers Board, will fly to Jamaica on December 14 to take part in the "validation meeting" with o ther Caribbean engineers, a prelude to a further trip to Europe, where Bahamian engineers and their Caribbean counterparts are expected to meet with several European engineering bodies, including the European Network for the Accreditation of European Engineers and the European Federation of National Engineering Associations, to discuss the terms of a Mutual Recognition Agreement ENGINEERS IN MOVE ON EP A RECOGNITION SEE page 8B

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C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ROYALFIDELITY MARKET WRAP ByROYALFIDELITY CAPITAL MARKETS IT WASanother slow week of trading in the B ahamian stock market. I nvestors traded in two out of the 24 listed securi-t ies, with all remaining unchanged. EQUITY MARKET A total of 20,900 shares changed hands, representi ng a decrease of 36,400 s hares compared to the previous week's trading volume of 57,300 shares. Commonwealth Bank ( CBL) was the volume l eader in the week, trading a volume of 20,700 shares to see its stock price close u nchanged at $6.85. B OND MARKET N o notes traded during last week. COMPANY NEWS E arnings Releases: There w ere no earnings reports released last week. EQUITY MARKET TRADING STATISTICS Week ending 10.12.10 BISX YTD PRICE SYMBOLCLOSING PRICEWKLY PRICEVOLUMECHANGE AML.....................$ 1.01..........................$-.................................0................................-13.68% B BL......................$ 0.18..........................$-.................................0................................-71.43% BOB......................$ 4.90..........................$-.................................0................................-16.95% B PF.......................$ 10.63..........................$-.................................0..................................-1.02% BSL.......................$ 5.01..........................$-.................................0................................-50.20%B WL.....................$ 2.70..........................$-.................................0................................-14.29% CAB......................$ 10.46..........................$-.................................200...............................4.81% C BL......................$ 6.85..........................$-.................................20,700.........................-2.14% CHL......................$ 2.40..........................$-.................................0................................-11.76% C IB........................$ 9.39..........................$-.................................0..................................-2.50% CWCB..................$ 1.80..........................$-0.03..........................0....................................-36.84 DHS......................$ 1.60..........................$-.................................0................................-37.25% FAM.....................$ 6.07..........................$-.................................0..................................-6.47% FBB.......................$ 2.17..........................$-.................................0..................................-8.44% FCL.......................$ 5.46..........................$-.................................0.................................14.47% F CLB....................$ 1.00..........................$-.................................0...................................0.00% FIN........................$ 7.23..........................$-.................................0................................-22.09% ICD.......................$ 5.59..........................$-.................................0...................................0.00%J SJ.........................$ 9.82..........................$-.................................0..................................-0.30% P RE ......................$ 10.00..........................$-.................................0...................................0.00% BOND MARKET TRADING STATISTICS BISX SYMBOLDESCRIPTIONVOLUMEPAR VALUE FBB13...................FBB Series C Notes Due 2013..................0........................................$1,000 FBB15...................FBB Series D Notes Due 2015.................0........................................$1,000 FBB17...................FBB Series A Notes Due 2017.................0........................................$1,000 FBB22...................FBB Series B Notes Due 2022..................0........................................$1,000 INTERNATIONAL MARKETS FOREX RATES C URRENCY WEEKLY% CHANGE CAD0.9909-0.65 G BP1.58250.27 EUR1.3238-1.36 C OMMODITIES C OMMODITYWEEKLY% CHANGE Crude Oil 90.55-1.17 G old1,375.25-2.01 INTERNATIONAL STOCK M ARKET INDEXES INDEXWEEKLY% CHANGE D JIA11,410.320.25 S&P 5001,240.401.28N ASDAQ2,637.541.78 Nikkei10,212.000.33

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By ALISON LOWE Business Reporter alowe@tribunemedia.net THE BAHAMIANprivate sector has been urged to seek greater involvement and input into negotiations over a new free trade deal between the Caribbean and Canada, one trade specialist noting that particular attention should be paid to how financial services is dealt with in any new agreement. Matthew Spence, an intellectual property specialist with the CARICOM Secretariat's Officeof Trade Negotiations (OTN and a member of the CARICOM college of negotiators for the CARICOM-Canada Trade and Development Agreement, told attendees at a technical workshop that he "can't stress enough" how important it is for the private sector in the Bahamas to seek knowledge about and input into the discussions on how trade in goods and services between Canadaand the Bahamas will be defined going forward. His comment come after Sacha Silva, an economic consultant with the Office of Trade Negotiations (OTN same workshop, which took place at the Sheraton Nassau Beach Resort, having been organised in conjunction with the Bahamas Chamber of Commerce, that the Bahamas would be wise to "keep a close eye on" negotiations between Canada and the Caribbean, as well as the WTO accession process. Such deals will have "a much more significant impact on development" than the EPA with Europe is likely to, considering the Bahamas relatively small trading relationship with Europe, contended Mr Silva. The Bahamas trade volume with Canada is larger, and Canada has traditionally taken "harder negotiating stances" in trade deals struck previously than Europe has. Addressing the workshop on Friday, Mr Spence said: "I think the experience youve had with the EPA should urge you to get involved in discussions with Canada. I cant stress enough how much the private sector should get involved in the process. Get in touch with the Chamber (of commerce)." Meanwhile, Allyson Francis, an investment and services trade specialist with the OTN, said that given the sector's importance to the Bahamas' economic output, the Government and private sector should be particularly proactive with regard to the terms of the deal relating to financial services. "I hope you are involved in the discussion of the financial services text in the Canada agreement because the approach Canada wants is quite different on financial services (as opposed to Europe You need to play as active a role as possible in the negotiating process, so it is as close as possible to what you want to see from a national perspective," said Ms Francis. Speaking wtih Tribune Business after the workshop, Mrs Francis said: "In the EPA we were just looking at regulating what we had scheduled in the agreement. With CaricomCanada we are looking at regulations of not just what is scheduled but how you regulate financial services within your state. "(Canada has a separate chapter to deal with financial services, unlike what we have in the EPA. That may not be of major concern, but I think we need to appreciate the content in terms of the depth of the Canadian requirement and proposal. Its more than we have done with the EPA, and with some member states its more than they have done in other agreements with Canada." CARICOM and Canada opened discussions in 2007 on a new trade agreement to replace the non-reciprocal arrangement that has previously governed trade in goods between the two areas. The Caribbean has up until now been allowed to export certain goods to Canada duty free, while Canada did not have the same benefit. According to figures released in 2009 by the Government of Canada, Canadas bilateral mer chandise trade with the Bahamas increased by 90.7 per cent in 2008 to reach $303.9 million. Merchandise exports to the Bahamas totalled $230.8 million in 2008, and included mineral fuels and oils, machinery, preserved food, electrical and electronic equipment, and pharmaceutical products. Merchandise imports from the Bahamas reached $73.1 million in 2008 and included organic chemicals, mineral fuel and oils, fish and seafood, salt, sulphur, stones and fruits and nuts. Through the Royal Bank of Canada, the Bank of Nova Scotia and others, Canada's trade in financial services with the Bahamas is also significant. C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM .H\UHVSRQVLELOLWLHV 0LQLPXPHTXLUHPHQWV Private sector is urged to get involved with Canada trade talks NEW YORK THEfear that kept small investors from participating in one of the greatest bull mar kets in history may be losing its grip, according to Associated Press. The White House reached a tentative deal with Republican leaders last week to cut tax es. Economists are raising their estimates for economic growth, and jobless claims have fallen 15 percent from a year ago. The month-ly trade report released Friday showed surging demand for American products, and the University of Michigan's December consumer sentiment index reached its highest point since June. There's even good news about two symbols of Wall Street recklessness. The government sold its last stock in Citigroup Inc. on Tuesday and could do the same soon with its stake in American Inter national Group Inc. The Standard & Poor's 500 index closed at 1,240 Friday, surpassing the level from before the financial meltdown in September 2008. And a survey by the American Association of Individual Investors showed the number of people bullish about stocks outnumbering those bearish by the widest margin in more than three years. "There was this widespread expectation six months ago that we were going to have a double dip recession," says Steven Bleiberg, manager of the Legg Mason Lifestyle funds. "That whole mindset has petered out." Arnold Espe, the bullish manager of USAA's Cornerstone Strategy Fund, predicts investors next year will put more money into U.S. stock mutual funds than they take out for the first time since 2006. Says Espe: "We're setting up for a pretty good market." Trying to guess what individual investors will do next is difficult, and the optimists could be dead wrong. There are plenty of reasons investors might balk at buying U.S. stocks, not least an unemployment rate of 9.8 percent. But if Espe is right, the market could rise smartly. Optimism about stocks can feed on itself. If small investors put back into the market even a fraction of the tens of billions that they took out in the past year, it could set off a virtuous cycle of buying. One sign that stocks may soon attract money: Though investors pulled $500 million more from U.S. stock mutual funds than they put in last month, the pace of withdrawals is slowing, according to fund tracker Strategic Insight. As recently as September, investors took out a net $15 billion. Small investors could turn to stocks soon because the alternative bonds don't look so safe anymore. For most of the year, small investors have used the billions they've withdrawn from stocks to buy bonds. The thinking was that bonds were safer because the principal is guaranteed. It's been a good move. Though the S&P has risen 11 percent since the beginning of the year, some bonds have done better. So-called junk bonds from highly indebted U.S. companies have gained 16 percent and bonds from emerging markets, 14 percent, according to Barclays Capital. But now doubts about bonds are creeping in. Fear is rising that an improving economy will stoke inflation that could eat into bond returns. Inflation sends bond prices down sharply because the principal won't buy as much when returned if prices rise. Will good news convince Main Street to buy stocks?

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regard for the provisions of the Hawksbill Creek Agreement, the Government is minded, using moral suasion, to seek the cooperation of your [Port Authority] Boardi n agreeing that the URCA regime might be extended to Freeport. In this regard, I herewith formally seek the concurrence of your Board. Such efforts have been o ngoing for more than a decade, the Government and G BPA having been locked in n egotiations over the latter assigning its rights to regul ate electronic communications in the Port Area to a Nassau-based regulator (first the Public Utilities Commission, then URCA) since the T elecommunications Act came into being in 1999. T he concerns have been l ong-standing. A draft February 14, 2001, letter from Sir Albert Miller to then-finance minister, Sir William Allen, o n this issue, warned: The p roposed draft agreement f irst sent to us by the Office o f the Prime Minister places GBPA in a somewhat untena ble position. To agree to the assignm ent of our rights, as prop osed therein, would require us to breach the Hawksbill Creek Agreement. Various drafts have been kicked back and forth, them ost recent, according to an August 31, 2009, legal opinion prepared by Graham, T hompson & Cos Robert Adams for GBPA president Ian Rolle, having been a draftD eed of Assignment sent on J une 18, 2009, by T. B. Don aldson, chair of the Government-appointed privatisation committee. According to Mr Adams, this draft involved the GBPAa ssigning all its rights to licence and regulate the provision of electronic communications services within the Port area to URCA for $1. GBPAs rights under the e xisting business licences that have been issued to electronic communications services providers in the Port area will be included in the assignment, Mr Adams wrote. For example, all of G BPAs rights, including the right to collect the licence fees, under its licence agreement with BTC and CableB ahamas will also be assigned to URCA. Summing up the implications, Mr Adams warned: Although it is our view that t he Deed does not purport to amend the terms of the H awksbill Creek Agreement, it must be noted that an assignment of a part of GBPAs rights under the Hawksbill Creek Agreement t o a third party would represent a very significant change t o the regulatory landscape i n the Port area. Accordingly, if GBPA is prepared to give up its rights t o regulate the electronic c ommunications sector in the P ort area and negotiate mutually acceptable comm ercial benefits and terms for an assignment of such rights to URCA, it is our recommendation that GBPA engage in a well-planned, structured and transparent process of public consultationw ith its existing stakeholders and licencees prior to entering into such an assignment despite the fact that there is no strict legal obligation on GBPA to do so. A November 5, 2010, affid avit by Tyrone Fitzgerald, the GBPAs in-house legal counsel, said of the negotiations between the Govern-m ent and GBPA: An agreement was never reached with respect to GBPAs assignment of such telephonic t elecommunications licensing r ights within the Port area. Thus GBPA still retains those r ights and exercises the same. Acknowledging the potential widespread consequences that the Cable B ahamas/URCA matter might have, former GBPA c hairman Hannes Babak, in a n affidavit filed in support of the Port intervening in the case, alleged: This matter c an have serious conseq uences to GBPAs ability to g rant licences within the Port area in respect to the provis ion of telephony services and to collect revenue on the same. C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &RPIRUWDEOHRRPVDW&RPIRUWDEOHDWHV5RRPVIURPMXVWHULJKWSOXVJUDWXLW\5HVWDXUDXQWDQG%DURROHFUHDWLRQRRPHHWLQJRRP$OEDQV'ULYH $ V D SULYDWHO\RZQHGPLGVL]HG%DKDPLDQ & RPSDQ\DQGWKHDXWKRUL]HG&DWHUSLOODUGHDOHU L Q WKH%DKDPDVZHDUHVHHNLQJFDQGLGDWHV IRU W KHSRVLWLRQRI)LHOG6HUYLFH7HFKQLFLDQV D QG FDQGLGDWHIRUWKHSRVLWLRQRI(OHFWULFDO 7HFKQLFLDQ 7KH LQGLYLGXDOVPXVWEHDEOHWR VXSSRUW&DWHUSLOODU7UDFWRUV 3URFLHQWLQGLDJQRVWLFWHVWLQJ&DWHUSLOODU 3URFLHQWLQ$SSOLHG)DLOXUH$QDO\VLV3URFLHQF\ LQSHUIRUPORDGVKDULQJDQGV\QFKURQL]HGLQ *HQHUDWRU3URFLHQF\LQ&DWHUSLOODU0DULQH(QJLQH GLDJQRVWLFV3URFLHQF\LQ&DWHUSLOODUIXHO LQMHFWLRQV\VWHPVDQGIXHOLQMHFWLRQEHQFKWHVW $SSOLFDQWVPXVWDOVRKDYHSURYHQH[SHULHQFH LQGLDJQRVLQJWURXEOHVKRRWLQJUHSDLULQJRI +\GUDXOLFV(QJLQHVDQG9HKLFXODU(OHFWULFLW\ &RPSXWHUVNLOOVDUHDOVRUHTXLUHGIRUWKLVSRVLWLRQ $SSOLFDQWVZLWKIRUPDOHGXFDWLRQLQPHFKDQLFVDUH SUHIHUUHG 6HQG FRPSOHWHUHVXPHZLWKHGXFDWLRQDQGZRUN H[SHULHQFHWR/LPLWHG3%R[ 1DVVDX%DKDPDV$WWHQWLRQ+XPDQ5HVRXUFHV 'HSDUWPHQWRUHPDLO PH#PHOWGFRP 2QO\SHUVRQVEHLQJLQWHUYLHZHGIRUWKLV SRVLWLRQZLOOEHFRQWDFWHG NOTICEWEST WINDS PROPERTY OWNERS ASSOCIATION LIMITEDNotice is hereby given that the annual general meeting for the West Winds Property Owners Association Limited will be held Thursday the 16th day of December, A.D., 2010 at 6:30 p.m. At the Pavilion, West Winds Subdivision, New Providence. BOARD OF DIRECTORS WEST WINDS PROPERTY OWNERS ASSOCIATION LIMITED Government: Moral suasion on Port telcos licence impasse FROM page one

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licence for non-payment of t he licence fees due. Judith Smith, Cable B ahamas in-house legal counsel, had alleged in an affidavit that the then-PUC had warned the BISX-listed company as far back as Decem-b er 23, 2008, that it could impose sanctions against ito ver the issue. Such sanctions may include revocation of [Cable Bahamas] licence, she alleged. The impositionof sanctions by the PUC is l ikely to cause irreparable d amage to the applicants business. Justice Longley will have to rule on Cable Bahamas demands for a Supreme Court declaration that URCAs a ttempts to include Freeportd erived revenue in the Internet licensing fees due from the company fall entirely outside the limits of the power conferred on it under the Communications Act. A nd the BISX-listed communications provider is also s eeking a declaration that the PUC (now URCAs to calculate its Internet fees b ased on the revenues genera ted by Cable Freeport was irrational and for improperp urposes. Describing Cable Freeport as its wholly-owned subs idiary, Cable Bahamas is a lleging that on October 19, 1995, it was issued with a licence to provide informa-t ion and entertainment services by the GBPA in thePort area, paying licence fees t o the latter. C able Bahamas licence was modified on December 21, 2001, to allow it to become a n Internet Service Provider (ISP 9, 2007, when the then-PUC f irst requested that the comp any pay licence fees, earned from the provision of Intern et services in Freeport, which it alleged were in arrears. Cable Bahamas, in an O ctober 28, 2008, letter to the PUC, objected to the demand for payment, pointing to the alleged lack of jurisdiction of the PUC to calculate and determine licence feesp ayable based on the revenue earned from providing pub-lic Internet services within the Port area. A lleging that the Telecommunications Act 1999 (now succeeded by the Communi cations Act) did not repeal the Hawksbill Creek Agreement provisions that provide the GBPA special regulato r y functions and powers to licence Freeport-based entities to provide telecommuni-c ations services, Cable Bahamas is arguing that the Act ought to be construed as being generally applicable t o the regulation of telecomm unication services throughout the Bahamas except for the Port area... Consequently, it also follows that none of the powers vested in the PUC [URCA] by virtue of the Act may bel awfully performed by the PUC in relation to the Port area on Grand Bahama, the Port Authority and its licencees, the BISX-listed provider alleged. This extends to, and i ncludes, the power conferred by Section 10 of the Act, which authorises the PUC to set license fees in amounts required to defray costs connected with its functions and powers in relation to telecom-m unications. Therefore, by calculating the license fees payable on revenue earned by Cable Freeport from the provision of public Internet services within the Port area, t he PUC was acting outside of the limits of the powers c onferred upon them under t he Act. Cable Bahamas is also a lleging that while it is l icensed by URCA, it is its C able Freeport affiliate a s eparate legal entity that earns all its Freeport revenues, and that is licensed by the GBPA, not the Nassaubased regulator. T he dispute goes right to the heart of the special status t hat Freeport and the GBPA have, and the latters ability to regulate and licence corporate entities in the 230 square mile area, and the extent to which they conflict with the central government in Nassau and its regulatory agencies. Cable Bahamas position was further made clear in anO ctober 28, 2008, letter to the P UC, in which its president and chief executive, Anthony Butler, said simply: The PUC is acting ultra vires in that it has no jurisdiction tor egulate telecommunications and, in particular, Internet in t he Port area and demand licence fees for the same. Pointing out that Cable Bahamas did not conduct business in the Port area, MrB utler added that Cable Freeport would be discriminated against if its was required to pay both URCA and GBPA licence fees, thus subjecting it to double taxation. Other telecommunica-t ions operators not based in F reeport would not be subjected to such onerous obligations. Referring to the PUCs demands, Mr Butler said that if enforced, they would exceed the Commissions statutory authority, and cont ravene the provisions of the H awksbill Creek Agreement. The proposed action, if implemented, will fly in the face of the Grand Bahama P ort Authority and will have d ire economic consequences f or the Port area. URCA is being represent ed by Ferron Bethel and C amille Cleare and Harry B. Sands Lobosky; Cable Freeport by Fred Smith QCo f Callenders & Co; and C able Bahamas by Robert Adams of Graham Thompson & Co. C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM B ahamas when addressing the challenges a nd opportunities arising under the Economic Partnership Agreement (EPA deal between CARICOM and Europe. With the discussions with the European Union on this agreement (the EPA cially as it relates to services, what needs to happen is while each industry has its u nique needs there needs to be a conc erted effort to ensure that the discussions h appen on a nationalistic perspective and not on an individual industry perspective, said Mr Rolle, who spoke to Tribune Business during a technical workshop on the EPA organised by the Chamber in conj unction with the Caribbean Export Develo pment Agency (CEDA com Secretariats EPA ImplementationU nit. M r Rolle has now begun contacting industry associations and societies to gauget he level of enthusiasm for the coalition. He so far feels that there is more interest in 2010 than when he left the presidency of the Chamber in 2005. I dont think the business community was ready for it back then. What you are s eeing now, though, is that business pers ons, not only from a negotiating standp oint as it relates to international agreements, but also here from a position of lobbying for certain things, are seeing the benefit, Mr Rolle said. So we have started that process. We h ave put together some documents, and I a m identifying all the various service organisations we need to reach out to and then well move forward. He added that it was likely that a number of new professional organisations representing services in the Bahamas will need to be formed, with some currently unrepresented. C oalitions of Service Industries already exist in Caribbean countries such as Trinidad and Tobago, Barbados and St FROM page one Cable/URCA FROM page one RENEWED FOCUS ON SERVICES COALITION S EE page 6B

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addressing t rade in service issues and services development. Trinidad and Tobagos Coalition of Services Industries (TTCSI lowing among its objectives: P roviding national service p roviders with knowledge of e xport opportunities; identifying and exploiting market opportunities; promoting the further development and competitiveness of the national services sector; supporting and facilitating the d evelopment of industry s tandards; educating nationa l service providers on relevant aspects of trade agreements that affect trade in services; and representing t he interests of the national s ervices sector, including lobbying government and promoting rules for trade in services. Such a coalition in the Bahamas would be able to a ct as an intermediary b etween organisations that are seeking to promote the development of Bahamian service suppliers, who may b e facing new opportunities o r commercial hazards under the EPA and the liberalisation of trade in goods and services that it brings. A number of entities, such a s CEDA, are administering programs to help build the capacity of businesses in the Caribbean to compete in the region and in Europe, but some service suppliers i n the Bahamas have comp lained they are not getting access to information that might allow them to take advantage of such issues. C arlos Wharton, a senior t rade policy officer with CEDA, advised during the EPA workshop that if a Bahamian coalition of serv ice industries is formed, s takeholders would be wise to ensure that any such coalition has private as well as public financial backing. He noted a very worrying drying up of financial s upport for such coalitions h as taken place in other countries, where they were primarily funded by governments in the Caribbean, t hreatening their existence. Renewed focus on Services Coalition FROM page 5B

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C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 'U/LX=HOLQ/HRf+DV 029('IURPLOODJHRDGWR :LQFKHVWHUWUHHWDOPGDOH1 0LUDFXORXV&KLQHVHHGLFDO'RFWRU K HDOVSDWLHQWVDLOPHQWV$ PDQVXIIHUHGIURPVHYHUHSDLQLQKLVULJKWNQHHIRUORQJ WLPH+HIRXQGLWGLIFXOWWRPRYDURXQG+LVNQHHZDV VZROOHQDQGYHU\VWLII+HKDGWKLVSUREOHPIRUHDUV $IWHUWKUHHWUHDWPHQWYLVLWVWKHVZHOOLQJZHQWGRZQDQGKH ZDVDEOHWRPRYDURXQGZLWKQRSUREOHPUHFRPPHQGWKLV WUHDWPHQWIRUSHUVRQVZKRZDQWUHVXOWVDQGGRQRWZDQWWR K DYHVXUJHU\ $QHOGHUO\PDQ\HDUVROGVXIIHUHGIURPKLJKEORRGSUHVVXUH DQGGLDEHWHV$IWHUYLVLWVKLVEORRGSUHVVXUHZHQWWRQRUPDO DQGKLVGLDEHWHVLVQRZXQGHUFRQWURO GN-1150OFFICE OF THE PRIME MINISTER Schedules (AnnexedSigned: increases had failed to produce the desired r evenue bump, Mr Laing said: I would say that that would only be possible if someoneh ad undertaken a detailed analysis of how tax revenues performed on all fronts. No one is in a position to say that. That would not be a rationale argument. In the first quarter of the fiscal year, revenue performancei s hardly a reflection of anything attributable to a tax policy. Its too early; too short a time, e specially in the economic circumstances in which we find ourselves. Mr Laing said the global economic climate had been impacting on other governments revenue collections as well as the Bahamas, buta dded: I know for a fact on the Excise Tax s ide of things that revenue is performing ahead of last year. Its up slightly, $2-$4 million ahead according to the last figures I saw. That is one area where tax increases were levied. Mr Laing pointed out that other quarters w ere traditionally stronger than the first for the G overnment when it came to revenue generation, adding: It doesnt follow that the new tax policy hasnt been working. The Government, he added, had been conducting fiscal analyses on a regular basis, assessing where it was constantly in terms of revenue collection and identifying collection and target gaps. Analysing why the Governments fiscal d eficit in the 2010-2011 first quarter had w idened, the Central Bank said higher debt servicing payments and goods and services spending increased total expenditure by $14.2 million or 3.8 per cent to $382.7 million, although capital spending fell by 1.7 per cent to$ 36.9 million. Net lending also dropped by 2 8.2 per cent to $8.1 million. W hile total revenue receipts rose slightly by $3.4 million or 1.3 per cent to $271.2 million, due to what was described as a timing-related increase in non-tax collections by 29.1 per cent to $29.9 million. R ecurrent spending was up by 5.63 per cent t o $337.8 million, while import/Excise duty collections fell 2.63 per cent year-over-year to $136.4 million, compared to $140.1 million the year before. The Government is relying on the $210 million Bahamas Telecommunications Company( BTC) sale proceeds to reduce the fiscal deficit t his year and pay down debt. FROM page one oo early to sa tax policy failed

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the Utilities Regulatory & Competition Authority (URCA it estimated that total industry revenues had grown by 3 per cent based on estimates and financial figures it had collected from industry licencees. Acknowledging that this growth rate was slower than that achieved by the Bahamian electronic communications industry in the period 2003-2007, URCA added: It should be noted that during 2009, the Bahamas real gross domestic product (GDP contracted by 4.3 per cent, largely due to the effect of the global economic slowdown on tourism. The growth in the sector revenue, therefore, surpassed growth in the general level of economic activity in the Bahamas. Based on financial statements recently issued, some $361 million of those revenues were generated by the Bahamas Telecommunications Company (BTC audited statements, with much of the rest coming from Cable B ahamas. Elsewhere, of the 121 new licences granted by URCA in 2009, some 27 were for use of additional radio spectrum, eight were operating licences, and the remainder 89 reciprocal amateur licences. Of the 28 licences not granted, their applications were pending. Apart from BTC, Columbus Communications and Caribbean Crossings, URCA also revealed that in 2009-2010 it had granted a licence to another international connectivity provider, Global Nexus Telecommunications, which is proposing to build and operate a submarine cable with a landing in Freeport, Grand Bahama. The sector regulator, seemingly excluding callback and Voice over Internet Protocol (VoIP share of the Bahamian fixed-line voice market at 98 per cent, with Systems Resource Group (SRG having the remainder. F ixed-line telephone services were said to have a market penetration of 37.74 subscribers per 100 persons, a ratio that compares favourably with most countries in a benchmarking sample, apart from Bermuda and the Cayman Islands, where the ratios were 88.96 and 67.69 per 100 persons respectively. Fixed-line service prices had remained stable for five years, with BTCs residential access charge at $15 per month ($12 for elderly residents), and business access at $36 per month. BTCs long distance call rates ranged from $0.47 per minute to the US, to $0.66 for the Caribbean (excluding Cuba $0.85 for Cuba and nations outside the Caribbean/North America. BTC and SRGs Voice over Internet packages provided for rates ranging from $9.95 to $34.99 per month. On the cellular side, penetration was relatively high despite BTCs monopoly, with 105 phones per 100 inhabitants. This figure, though, was well below all others in URCAs sample, with penetration as high as 178.16 phones per person in Anguilla. Elsewhere, on the broadband Internet side, penetration by the likes of BTC, Cable Bahamas and smaller Internet Service Providers (ISPs subscribers per 100 persons. That figure, according to URCA, was comprised of 12.6 cable subscribers per 100 persons, and 5.88 DSL (BTC 100 persons. These penetration figures, though, ranked the Bahamas behind the likes of Barbados, Bermuda, St Kitts, Singapore and New Zealand. And, finally, on pay television services, the penetration in the Bahamas was found to be 22.95 subscribers per 100 persons. Meanwhile, URCA said it expects to decide this month on whether Cable Bahamas has complied with its obligation to separate its cable TV and Internet services, as well as complete its review of the BISX-listed company and BTCs accounting separation and cost accounting reports. These are required under their Significant Market Power (SMP URCA also plans to make a decision on BTCs Reference Access and Interconnection (RAIO quarter. For 2011, URCA is budgeting for just over a 9 per cent increase in operating spending to $5.285 million, compared to $4.835 million for this year, with operating expenditure to increase by $278,000. Rent and utilities have increased from 2 per cent to 8 per cent of budget, due to URCAs move to expanded offices in premises owned by UBS (Bahamas Staff costs have increased by three percentage points to 33 per cent of URCAs budget, with another 34 per cent to go on professional services. This includes $650,000 for regulatory advice, $262,000 for legal fees, and $131,000 for human resources, with URCA attributing these spending needs to the fact it is a relative newcomer as a regulatory agency. C M Y K C M Y K BUSINESS PAGE 8B, MONDAY, DECEMBER 13, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM FROM page one Communications sector revenues (MRA This is required before engineers from both regions, including the Bahamas, can sell their skills in each other's markets. By doing so, engineers will become the first Bahamian profession to take steps towards achieving mutual recognition for themselves in Europe ahead of the implementation of the EPA, which is intended to ease access for CARICOM states goods, services and professionals into the European market and vice versa. In a technical workshop on the EPA held at the Sheraton Nassau Beach Resort, Allyson Francis, a services and investment specialist with the Office of Trade Negotiations (OTN retariat, highlighted 29 service areas whose inclusion in the EPA services schedule, she said, indicates that the European Union (EU "encouraging" involvement by Bahamian professionals in those fields in Europe, subject to certain conditions. These fields include: legal advisory services with respect to international public law and foreign law (i.e. non EU-law bookkeeping services; taxation advisory services, architectural services; urban planning and landscape architecture services; engineering services; integrated engineering services; medical and dental services; veterinary services; midwives services; services provided by nurses, physiotherapist and paramedical personnel; computer and related services; research and development services; advertising services; market research and opinion polling; management consulting services; services related to management consulting; technical testing and analysis services; related scientific and technical consulting services, maintenance and repair of equipment, notably in the context of an after-sales or after-lease contract; chef services; fashion model services; translation and interpretation services; site investigation work; high er education services (only privately-funded vices; travel agencies and tour operator's services; tour guides services; entertainment services other than audiovisual services. The terms of the agreement also allow for European professionals to supply contractual services in these areas in the Bahamas, subject to eight conditions, which include the need to have a university degree and other necessary professional qualifications except in the case of chefs, fashion models and entertainment service suppliers and the demand that the professional involved does not have a contract to operate in the country for over a year. The agreement also demands that the service supplier cannot receive payment for any oth er services other than those he or she came to Europe or the C aribbean to supply. Under the services schedule of the EPA, which is available on the Engineers in move on EPA recognition FROM page one SEE page 9B

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C M Y K C M Y K BUSINESS T HE TRIBUNE MONDAY, DECEMBER 13, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1.011.010.000.1500.0406.73.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6 .184.50Bank of Bahamas4.904.900.000.5980.2608.25.31% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1 6.856.850.000.4220.26016.23.80% 3.651.63Consolidated Water BDRs1.791.800.010.1110.04516.22.50% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6.995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.23Finco7.237.230.000.2870.52025.27.19% 11.408.77FirstCaribbean Bank9.399.390.000.6450.35014.63.73% 5.513.75Focol (S 5.465.460.000.3660.21014.93.85% 1 .001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29% 10.509.82J. S. Johnson9.829.820.000.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield B ISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W W W.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029FRIDAY, 10 DECEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,482.73 | CHG 0.01 | %CHG 0.00 | YTD -82.65 | YTD % -5.28BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1 .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 1.13671.0000FG Financial Preferred Income Fund1 .13674.30%5.21% 1.09741.0000FG Financial Growth Fund1.09742.75%6.87% 1.13631.0000FG Financial Diversified Fund1.13634.18%5.78% 9 .74859.1005Royal Fidelity Bah Int'l Investment Fund Principal P rotected 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 = 1,000.00 YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeks Bid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeks Ask $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volume Last Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volume Weekly Vol. Trading volume of the prior week Change Change in closing price from day to day EPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded today NAV Net Asset Value DIV $ Dividends per share paid in the last 12 months N/M Not Meaningful P/E Closing price divided by the last 12 month earnings FINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 ( S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10B ISX Listed Mutual FundsNAV Date 30-Nov-10 31-Oct-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 242-502-75253 0-Nov-10 30-Sep-10 30-Sep-10 3-Dec-10 3 0-Nov-10MARKET TERMS31-Oct-10 NAV 6MTH 1 .475244 2.911577 1.532712 107.570619 105.776543 30-Jun-10 3 1-Oct-10 30-Nov-10 30-Nov-10 G N-1148OFFICE OF THE PRIME MINISTER S igned:Schedule (Annexed website of the Caribbean Regional Negotiating Machinery, terms also exist under which other categories of people, defined as "independent professionals", "graduate trainees", "key personnel" and "business service suppliers" in various fields can enter into countries in the two regions to sell their skills again subject to a number of terms and conditions. The EPA speaks to the requirement for professional private sector bodies in Europe and the Caribbean to enter into negotiations regarding the terms and conditions under which they will accept each others nationals, who may provide a particular service, such as accounting, to enter their market. The MRAs are to address the method of accreditation in a given country, seeking to ensure an easier method of accounting for the level of education and capacity of a professional in a particular field should they come seeking to provide services in another jurisdiction. The intention is that the MRAs would be negotiated and finalised through discussion between professional bodies within various countries, or representing the region as a whole hence the need for Bahamian and other Caribbean engineers to meet with the European Federation of National Engineering Associations, a body which incorporates Europe-wide pro fessional engineering organisations. Such MRAs are another m ove towards greater formalisation and regulation of standards governing particular professional services, such as accountants, engineers and architects, in the Bahamas. Without such formalisation of standards, such professions will be in a weak position when it comes to s peaking with their European counterparts about who should and should not be permitted to come to the Bahamas to operate in these fields. Other service suppliers have been encouraged to form professional associations to begin discussing accreditation of prof essionals in their service area. With tourism one of the key areas in which it is expected Bahamian professionals may be able to benefit from the EPA with Europe, Winston Rolle, executive drector of the Bahamas Chamber of Commerce, said going forward the f ormation of a professional association by such individuals should be a priority. "Tourism can cover so many things anything from a bellman to a marine biologist but I would imagine most of the interest you would be getting wouldb e more from people in management, and so obviously t heyre going to have to get together to help craft their crite rias," said Mr Rolle. F ROM page 8B E ngineers in move on EPA recognition