The Tribune.
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Title: The Tribune.
Uniform Title: Tribune. (Nassau, Bahamas).
Alternate Title: Nassau tribune
Physical Description: v. : ill. ; 58 cm.
Language: English
Publisher: Tribune
Publication Date: 11/29/2010
Spatial Coverage: Bahamas
General Note: Description based on: Vol. 79, no. 210 (Aug. 3, 1983); title from caption.
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Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 09994850
oclc - 9994850
System ID: UF00084249:01763


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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 Murder count passes record C M Y K C M Y K Volume: 107 No.7MONDAY, NOVEMBER 29, 2010 PRICE 75 (Abaco and Grand Bahama $1.25 WEATHER SUNNY AND SHOWERS HIGH 84F LOW 74F I N S I G H T SEEPAGE12C S P O R T S Bain Town: not a riot? SEESECTIONE Womens basketball By AVA TURNQUEST Tribune Staff Reporter TWO FATAL weekend shootings have pushed the countrys homicide count to 88, breaking the Bahamas overall record for the second consecutive year. With still one month left in 2010, the years homicide count has already passed last years record-setting number of 87. Last night, a 32-year-old man was in critical condition at hospital following two separate shooting incidents that claimed the life of two 22year-old men. Following the weekends first shooting, which occurred on Friday at Nassau Street and Deans Lane, where a 22year-old man became this years 87th homicide, Theodore Frank Berry Jr also 22 was gunned down at his childhood hangout on Woodes Alley off Market Street on Saturday. According to family members, Mr Berry had just finished baby-sitting his younger cousins and had gone to the area to spend time with family and friends. In a recent interview, Commissioner of Police Ellison Greenslade indicated that the steady increase in violent crime was symptomatic of greater societal issues, such as the proliferation of weapons, recidivism and the current judicial system. Mr Greenslade said: You have to take some ownership of this. We cannot be in every home and we cannot be on every street corner. It is against the law and people have to come back to the decision of realising that if you ignore this issue it is going to come back to bite you. Far too many people get up everyday and do not go to a legitimate job, but rather go to a street corner where they sell illegal drugs. We arrest W eekend shootings bring homicide total up to 88 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 18 SHOOTING SCENE: Police stand over the body of Frank Berry Jr after he was gunned down in Woodes Alley off Market Street. Tim Clarke /Tribune staff LATESTHOMICIDE By AVA TURNQUEST Tribune Staff Reporter CELEBRATED father, husband, Rotarian, teacher and war veteran, Charles Frederick Cadman has died. The 89-year-old, known affectionately as Fred by friends and family members, died on Thursday. He was known for his kindness, dedication and commitment to his family and philanthropic efforts. Sharing with The Tribune an excerpt from his memorial service, Mrs Sharon Wil son told of her parents unlikely union and her fathers full life. Mrs Wilson said of her father: Fred was a quiet, unassuming man, going SEE page 18 By TANEKA THOMPSON Tribune Staff Reporter tthompson@ TOURISM Minister Vin cent Vanderpool-Wallace could not say what impact if any Government's demand for unpaid Customs duties from private aircraft operators will have on the domestic aviation sector. This comes after the Air craft Operators Association (AOA Government seized their planes in lieu of unpaid duties, it would "cripple" the domestic airline industry. One day of aircraft impounding would cost operators an unquantifiable amount in lost goodwill from passengers, said AOA members during a press conference last week. The Senator told The Tribune in an interview yesterday that he did not know how or why the unpaid taxes were allowed to accrue, but he said the private aircraft operators should have made allowances in their finances for customs duties on their fleet, explaining that the SEE page 18 MINISTER UNCERTAIN OF UNPAID DUTIES IMP ACT ON PRIVATE AIRCRAFT OPERATORS CELEBRATED ROTARIAN AND TEACHER CHARLES FREDERICK C ADMAN DIES AGED 89 CELEBRATED: Charles Frederick Cadman B y TANEKA THOMPSON Tribune Staff Reporter t A WIDOW has filed a wrongful d eath suit in a Florida court against Kerzner International alleging that h er husband died because of negligence of employees at the Atlantis Resort on Paradise Island. T oni Lynn Bell claims that her husband who was having heart attack symptoms waited nearly an h our for an ambulance to arrive after a desk clerk promised that a doctor was on the way to the couple's aid.S he also alleges that the hotels assistant manager impersonated a doctor WOMAN CLAIMS HUSBAND DIED DUE TO ATLANTIS EMPLOYEES NEGLIGENCE SEE page 18


OFFICERS of the Central Detective Unit and the Drug Enforcement Unit seized $12,000 worth of suspected marijuana during a search of a Nassau Village home on Friday. A round noon, the CDU together with the DEU searched a home in Nassau Village and discovered 12 lbs of suspected marijuana. Three men were taken i nto custody for questioning in c onnection with the seizure. Police on Friday also arrested a 32-year-old man of Palmetto Avenue after they found a quan-t ity of suspected marijuana on h is person. The officers of the Northeastern Division who were on routine patrol in the area of Andros Avenue and Adderley Alleys topped the man because he was reportedly acting suspiciously. C M Y K C M Y K LOCAL NEWS PAGE 2, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM POLICE GRADUATION CEREMONY TWO men are in hospital being treated for knife wounds after they were injured in two separate attacks over the weekend. The first stabbing incident occurred at 8.15pm on Friday on Penny Savings Bank Lane, off Wulff Road. Police reported that two men, aged 37 and 38, got into an argument that resulted in the 38-year-old being stabbed several times. T he victim was taken to hospital by medical emergency personnel where he is detained in stable condition. Police are questioning the 37-year-old of Peardale in connection with this incident. Investigations are also continuing into a stabbing t hat took place around 2.40 pm in the Madeira Street area. Two men were reportedly walking on Montrose Avenue when they were attacked and beaten by a group of men, which resulted in a Pinewood Gardens man being stabbed in his back. The victim was taken to hospital where he is listed as in stable c ondition. Two in hospital after knife attacks $12,000 worth of suspected marijuana seized In brief PHOTOS: Tim Clarke /Tribune staff


By CELESTE NIXON Tribune Staff Reporter D ESPITE straw vendors fears that making and selling a uthentic Bahamian products will never be as profitable as peddling foreign souvenirs, BAIC officials say the new straw market has great potential and must be given an opportunity to show it. A source at BAICs Department of Handcrafts said thec oncerns are premature, and that vendors should give the n ew rules which limit merchandise to only Bahamian goods a chance. If there is one place in the Bahamas where only Bahamiang oods should be sold, it is the straw market, the source said. L ocal artist and owner of Doongalik Art Gallery, Jacks on Burnside, believes the new policies will have a very positive impact on the popularity of Bahamian made products, crafts and art work. He said: The experience of the new straw market should be a celebration of all things Bahamian for visitors and B ahamians alike. Merchants Over the years, the once authentically Bahamian straw market developed a "flea market" atmosphere, which turneds traw workers into merchants s elling mostly foreign goods. Tourists responded to this development and in particular to the lower prices and this influenced the markets culture and the type of clientele to which it currently caters. Although the change has b een consistently complained a bout by Bahamians, vendors s ay foreign souvenirs are in h igher demand and therefore more profitable. They say tourists will not pay enough for authentic handcrafts to justify the time and labour involved. T he issue was recently highl ighted when nine straw vend ors were arrested for buying c ounterfeit goods that they planned to later sell on Bay Street. All nine were released after pleading guilty, however the case sparked renewed calls for an all-Bahamian market. Acknowledging that the i ssue is truly complex, Mr Burns ide said that while the new r ules are a necessary developm ent, there should be an ongoing effort to train, develop and support straw vendors and oth er Bahamian artists. Just as we pay attention to the details of the building we should be paying attention to persons actually producing and selling the goods, so that "the experience inside the building should be as beautiful as the building itself," he said. BAIC said that training and d evelopment programmes are already available throughout t he year on New Providence and other Family Islands. W hile straw market vendors a re often solicited to join these p rogrammes, it is up to vendors to take an active role in the development of their skills. The programmes include the making of coconut shell crafts a nd jewellery, sea shell and conch shell crafts and jewellery, straw weaving and sisal-based goods. C M Y K C M Y K LOCAL NEWS THE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM New straw market should celebrate all things Bahamian WHILE some straw vendors say they feel hard done by when it comes to the governments proposed policies for the new downt own straw market, members of the public seem to have little sympathy for them. In fact, many commentators on The Tribunes website expressed outrage at t he vendors reaction to the new regulations. Last week, angry vendors declared war on the government after Minister of Public Works and Transport Neko Grant announced that there will be rent hikes rental charges will range from $200 to $250 per month, $46 to $58 per week or $6.50 to $8.20 per day and that all counterfeit goods for sale will banned. After the announcement, straw Business Persons Association President Esther Thompson d ismissed the government as a joke and declared the vend ors intention to defy the new rules. The Tribunes online version of the November 25 story with the headline Straw vendors vent anger over new market policies and rent received numerous comments aboutt he matter, with the overwhelming majority condemning the S traw Business Persons Association for its statements. One poster, simply going by the moniker Bahamian, called for all ungrateful vendors to get off Bay Street. Minister Esther Thompson, the war is indeed on, but a gainst you and the likes of you. I resent my tax dollars being used to accommodate your foolishness, the poster said. Another commentator questioned the vendors claim that t he proposed rent increase is too steep for them to pay. How can these vendors some of whom can make enough to afford to join daily asues of as much as 100 dollars a day say eight dollars a day, $250 per month is too much money? Stop spending money on weaves and acrylic nails a nd pay ya cheap rent! The straw market would be a better place, the online poster said. Poster Marilyn Stubbs asked: What is wrong with these straw vendors? How much more they want the government to help them. I hope the policies that are instituted are adhered to. We always put laws in place and when it is time to allow the law t o take its course something else happens, she said. Gail H said it is time for these straw vendors to wake up a nd realise that you must pay in order to run a business. If they don't want to pay, they can leave! No one is forc ing you to become a straw vendor. They could even form their own committee, pool their resources and build a market on their own terms and conditions. Of course no one of them w ould ever consider that. Disgrace. Another poster by the name of Well Muddo came up w ith a more drastic solution: I would just bulldoze the build ing and cover it with tar, put one chain-link fence around it a nd put a sign in the middle of the property that says The Product of Ingratitude Brought to You by the Bahamian Straw Vendor and leave them ungrateful (vendors that tent. Public have little sympathy for straw vendors outrage at new regulations C LAIMS from the Progressive Liberal Party of a conflict of interest within the board of the Broadcasting Corporation of theB ahamas have been branded as asinine by BCB Chairman Michael Moss. Mr Moss' comment came in response to concernsr aised in a statement by PLP Chairman Bradley Roberts after Media Enterprises a company owned by BCB boardm ember Larry Smith issued a press release on b ehalf of the broadcasting agency last week. Do the board of directors of the BCB believe that it is appropriate for ap ress statement to be issued by a company that is o wned by one of its directors? Was Media Enterprises contracted by the B CB to perform such services? If so, what is the value of such a contract? If t here is such a contract between the BCB and M edia Enterprises, was the contract awarded pursuant to a competitive biddingp rocess?" Mr Roberts asked. Y esterday Mr Moss brushed off the conflict of interest claims. That is asinine," he said. Ignored Mr Moss explained that he asked Mr Smith to dis t ribute the press release to the media through his com p any as a favour because most media outlets had ignored the story when itw as first sent by the BCB. "I asked him to release it again to ensure that it would get wider coverage than it did before. Her eceived no compensation for it," said Mr Moss. His earlier statement noted that, in the wake of its recent restructuring,B CB has started a wideranging operational review aimed at securing a sus tainable future for ZNS as a public service broadcast e r. After bringing its financial losses under control byc utting staff levels BCB will now work towards implementing a new busi ness model. The channel aims to focus more on community-oriented news, entertainment and information. PLPCLAIMS OF BCB CONFLICT OF INTEREST BRANDED ASININE WIDESPREAD power outages affected residentsin New Providence this weekend. Residents reported sporadic black-outs occurring late Saturday evening and yesterday, some lasting only half an hour. The power issues were thought to be the result of generator problems, however an official statement on the power outages is expected to be released today, pending a technical report by engineers. NEW PR OVIDENCE HIT BY POWER CUTS ESTHER THOMPSON NEKO GRANT


EDITOR, The Tribune. The Bahamian public must accept the fact that we are in a war against the criminals and terrorists in our country. The police and other law enforcement agencies are our only hope to restore the peace a nd good order we had in the p ast. We must continue to assist our law enforcement agencies in the battle those of us on the outside are likely to be victims and must take precautions to protect ourselves and our property. Those of us with influence must strive for support from the government to enact the type of legislation that would support our police personnel in their constant struggle to eradicate the crime problem.We must quash efforts by the media and those citizens, who tend to make apologies for the hoodlums with the guns. Each person carrying an illegal firearm is a potential mur derer and a threat to all of us even though we may not be the intended victim. Recently in Antigua possession of an illegal firearm means mandatory imprisonment. St Lucia has enacted similar legislation and there i s no bail pending trial. I n Trinidad & Tobago legi slation is being enacted to make the penalty for a third conviction of any crime involving the use of firearms life imprisonment. Our Police Force thus far this year has arrested 250 persons for possession of firearms, most of or all of whom are out on bail. Many of them continuing their criminal activity to acquire funds for attorneys. I n January, 2006 a man was a rrested with three guns in his car. That case is still pending. On the 7th January, 2009 a couple was arrested at Kel lys dock with 2500 rounds of assorted ammunition in baby clothing. That case is still pending. In recent week a man was arrested in his residence with seven guns and a large quantity of assorted ammunition. He was granted bail and trial set for June, 2011. We have in our midst a Haitian national, who obtained permanent residence. He was allegedly found in possession of 2.3m dollars in Freeport some years a go. The money was confisc ated by the Supreme Court. The same man was arrested in April, 2010 at the LPIA arriving with 2.5 kilos of cocaine. He was granted bail and his trial was set for November 16, 2010, that trial has been postponed to June 26, 2011. The PM was right when he talked about the decisions being made by the courts with respect to bail and the long adjournments of simple cases that could be completed in a very short time. These are just a few of the hazards being encountered by our hardworking Police Force over the last three to five years. We, the public, lobby our politicians to get the sup port for our troops in this war. PAUL THOMPSON Nassau, November, 2010. C M Y K C M Y K EDITORIAL/LETTERS TO THE EDITOR PAGE 4, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE The Tribune Limited NULLIUS ADDICTUS JURARE IN VERBA MAGISTRI Being Bound to Swear to The Dogmas of No Master L EON E. H. DUPUCH, Publisher/Editor 1903-1914 S IR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 EILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. P ublisher/Editor 1972Published Daily Monday to Saturday S hirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama T ELEPHONES Switchboard (News, Circulation and Advertising W EBSITE w updated daily at 2pm FOR ALMOST a year Emerald Bay, G reat Exuma, has had a luxury hotel sitting empty. Managed by the famous Four Seasons chain, it opened to rave notices in November 2003. By June 2007 it was in receivership and on May 26, 2009 it had offi-c ially closed temporarily it was said at the time. However, that temporary became permanent, and 400 Bahamians were out of work. T he resort reopened on January 22 this year under the ownership and management of the Sandals all-inclusive group, owned by Butch Stewart of Jamaica with his son,A dam, and a new name Sandals Emera ld Bay. But there was a difference between the two operations. Four Seasons offered a luxury hotel, suggesting to its guests that when t he resort gets a bit much, head off property to discover the unspoiled beaches, roadsidee ats, and hang with the locals for a little calypso, rock and reggae. O n the other hand Sandals is an all-inclusive resort that sells its vacation as a package, providing not only the luxury of a hotel, but all the recreation and entertainment needed on site no need to go off property. A nd for this some of the locals are com plaining. Floyd Armbrister, Chamber ofC ommerce president, said that the all-inclusive nature of the new hotel meant that the trickle down effect of Bahamian-owned businesses were limited. He said Exumians were shocked into reality since Sandals opening, realising that the growth years enjoyed when Emerald Bay was operated by Four Seasons were gone, and probably gone for good. H ere was an all-inclusive, employing most of the 400 workers laid off by Four Seasons, g iving fantastic exposure to the island with an 83 per cent increase in visitor arrivals since its opening and devoting 30 per cent of its global marketing and advertising budget to put Emerald Bay on the map and yet there were complaints. There are now new flights in and out of the island by Delta and A ir Canada, and the first direct jet service by American Eagle, which started flying to the i sland on a weekly basis on November 18. The American Eagle service is somethingthat even Nassau does not have. During the week switch on ABC, CNN, TBS, TNT all the major US networks and there is San dals Emerald Bay, Great Exuma being intro duced to the world. No wonder Prime Minister Ingraham advised the islanders not to look a gift horse in the mouth. He said he had had an opportunity to speak with some of Exumas leaders and some of the attitudes of some of these persons in these positions leaves much to be desired. They have no alternative and they grumble and grumble Mr Ingrah am said he continues to tell Mr Stewart how appreciative the Bahamas is that he has bought the abandoned hotel, opened its doors and has breathed new life into Exuma. He told the press that he thanks God everyn ight for Sandals coming to Exuma. The hotel is already attracting business to the island, which is benefiting its people. A Bahamian, whose roots are in Exuma, w as there on business about two weeks ago. He planned to stay a few days. Instead he returned to Nassau immediately nothing to do, nowhere to eat after 6pm, outside oft he hotel no activity, nothing of a standard t hat would lure a visitor from the hotel. We understand that three new restaurants are scheduled to open in Exuma within the next two weeks. M aybe this lack of activity is why the Four Seasons failed. Islands like Exuma,i nviting first class visitors, without first class facilities have to have all-inclusives to pro v ide the all-round luxury experience these visitors expect. As an Exumian commented recently: Every development at Exuma is high end, it is now up to Exumians to bring local stand ards up to that level. He predicted that if Exumians can do t hat their efforts will probably benefit Sandals because there is only so much a visitor c an do at a hotel in six days. He soon becomes curious and will want to explore the island. Its up to the locals to provide proper facilities and operating hours espe cially for dining that will meet his needs. In other words, he said, Sandals was doing its part by putting the island on the map, and a ttracting visitors and airlfit, it was now up to the Exumians themselves, rather than sitt ing on their hands and moaning, to settle down and see where they could fit into the picture and be a part of the venture. Already, said Mr Stewart, Sandals guests usually hire an average of 10 rental vehicles a day, 25 per cent of them participate in at least one local tour and local taxi drivers have been b usy ferrying guests and travel agents to and from the property. He said that an average of $ 35,000 is spent a month to pay the local taxi association to provide this service for the hotels guests. The Prime Minister said that next year government will start significant infrastruc tural work in Exuma, including work on the badly deteriorated public dock. Exumians will also have to start upgrading their own businesses if they want to be part of the action. Exuma has a tremendous future ahead of it if only all parts of the community can come together to work towards a common goal. We must help police in war against crime LETTERS t look a gift horse in the mouth EDITOR, The Tribune. I was very saddened to learn of the passing of William Bill Holowesko, the founder of the Holowesko clan in the Bahamas, last Friday, November 12, at his residence in Lyford Cay. I had known Mr Holowesko for 25 years, first making his acquaintance in 1985 as a callow Legal Research Clerk, then employed by his brother-in-law Jerome Pyfrom and his law partner, Noel Sawyer Roberts. Whenever I encountered a snag in a research assignment, or needed help with a particular title problem, he always helped me willingly and with alacrity. The deceased and I shared a great common interest in researching Bahamian genealogy, and we often joked of the many old families that were not clean, but today are parad ing about as pure-breds. During the quarter century that I knew the owner and oper ator of Bahamas Title Research Company, he was always courteous, and respectful. His companys motto was your judgment is only as good as your information. He was a man of princi ple, whose probity was never once questioned or impugned to my knowledge. The last time he and I spoke, it was last year, November 7th, when he and several other staunch Catholics were recognised at a Gala Ball celebrating the l20th anniversary of Catholic Edu cation in The Bahamas, held at the Grand Ballroom of Atlantis on Paradise Island. There he was surrounded by his loving wife and caring children, along with other supportive family members. I am grateful that our paths crossed, and thankful to him for all his assistance rendered to me over the years which made my mtier less ponderous. I extend my condolences to his widow, Senate President the Honourable Mrs Lynn Pyfrom-Holowesko, and to the entire family, including the Catholic Community of which he was a faithful member, and which he served pre-eminently, for so many years and in so many ways. I invoke the intercessions of blessed Mary ever Virgin, all the angels and saints, both celestial and terrestrial, to pray for the repose of his soul. GEORGE L HEASTIE Nassau, November 18, 2010. William Bill Holowesko a courteous, respectful and principled man EDITOR, The Tribune. I am writing to say how disappointed I am with the 2 010 Bahamas Christmas stamps. I have been pur-c hasing Bahamas Christmas stamps for over 40 y ears to put on my Christmas cards which I usually mail out to foreign destinations around November 20th, each year. 2 010: 70 cents stamps water t ower and fireworks display 65 cents Bahamasair jet and fireworks display 15 cents Cruise ship and palm trees and fireworksd isplay. These stamps commemo r ate a New Years celebration not Christmas! What was the Post Master General thinking when he chose these stamps? I hope and pray for 2011 the Christmas stamps will once again reflect the reason for the season Christmas and be in more bright cheerful tropical Bahamian colours! OLD LONG TIME EASTERN ROAD RESIDENT Nassau, November 24, 2010. Disappointed with Bahamas Christmas stamps


B y DENISE MAYCOCK T ribune Freeport Reporter F REEPORT Veteran Z NS television programmer Denzel Inch Swain has opened a new television anda udio business on Grand Bahama after 30 years at the Broadcasting Corporation of the Bahamas. Mr Swain launched Something Different Bahamas Audio and Video P roduction Company on N ovember 17 shortly after he was disengaged from ZNS i n Freeport. Swain, who served as deputy director of television at ZNS, has a wealth of knowledge and expertise in t he area of radio and television programming. According to a press r elease, Swain has served 10 y ears in radio programming a nd production at ZNS. In November 1990, he was given the opportunity by the l ate Albert Adderley to pion eer live television programming in Grand Bahama. S wain did not agree with the decision made by the broadcasting board and believed he had more to contribute. I wanted to continue to build on what I was a part of starting here (at ZNS F reeport), he said. W asting no time, Swain d ecided to venture into business. This month Swain celebrated 20 years in televisionb roadcasting. Something Different is a technical service company with many services to offer, including news production, sports production, corporate events, television commerc ials, TV advertising, video p roduction, photography, transfer services, audio production, duplication services,a nd website production. The company also offers consultant services in audio and video production. Per-s ons can visit his website at w ww.somethingdifferentba for additional information. We are eager to help with any size project by offering our facilities, expe rience, talent, and enthusi a sm to producers all across The Bahamas, Mr Swain said. C M Y K C M Y K LOCAL NEWS T HE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Former ZNS employee opens production business in FPO AS hundreds of Bahamians faced the possibility this year of losing their homes because of complex legal disputes and claims of fraud by lawyers, a prominent church leader is now calling on government to do more to reach and protect the countrys hard-working citizens. Bishop Simeon Hall, senior pastor of the New Covenant Baptist Church, is calling in particular on Minister of State for Social Services Loretta Butler-Turner and Attorney General John Delaney to use their ministries to protect the unfortunate. The exploitation of the poor should find no protection under the law. Someone, anyone, please step forward and lead a national cause to help and protect the poor of our land. In too many instances the rich and famous exploit the ignorance and desperation of those at the bottom of the social-economic ladder. Hardworking Bahamians should feel safe whenever they buy land, build a house, try to start a small business and make small investments in insurances and other investment institutions, he said. Bishop Hall said scores of Bahamians are angry and feel marginalised because they have been exploited and ripped off. In too many cases you hear of the inability to recover money paid to lawyers, shoddy and deficient work done on houses. All these criminal anomalies fuel social discontent, he said. Bishop Hall said he is concerned if government does not do more to protect these affected persons they will continue to mistrust the national institutions, and the manifestations of this mistrust will continue to be seen throughout the land. Church leader calls for govt to protect hard-working citizens


FREEPORT The Downt own Turnaround Project (DTP a mural competition in conjunction with the opening of the new Downtown Welcome Centre. Students from Grand Bahamas high schools were invited to submit entries under the theme, We are Culture. P articipating as judges were artists Chantal Bethel, Teresa Lord-Rolle-Long and Sheldon Saint. Entrants were judged on clarity of the theme; creativity and originality; quality of composition and design, and overall presentation effect. Winners were announced a nd received numerous awards and prizes during a special presentation at the Building and Development Services Department of the Grand Bahama P ort Authority (GBPA A ddressing the group of entrants and finalists was A rthur Jones, vice-president of building and development serv ices at the GBPA. We looked at what was happ ening downtown and decided it was time to improve its look, s aid Mr Jones as he briefly outlined the DTP which was launched last year. We are trying to involve everybody in the projects wereu ndertaking. So we invited students to take part because wew anted all of you to feel that this city of Freeport belongs to y ou and hence requested your participation. With the colourful, winning entries displayed before all pre sent, the top three finalists r eceived special recognition for their paintings. Overall winnerw as Teneko Rolle of St Georges High School. J emar Simms of Eight Mile Rock High School and Shakiel Deleveaux of St Georges High School placed second and third, respectively. T eneko described his piece as a collaboration of all things Bahamian, such as rake n s crape, Junkanoo, straw plaiting, a community church,n ational symbols, locally grown fruits, native foods and Kalik b eer. Similarly, Shakiel explained how he sought to portray what Bahamian life was like a few years back, in his parents time, but through his eyes. M r Jones noted that the impressive scores given by the s easoned panel of judges who critiqued the competition r eflected the calibre of artistic talent on display. We wanted you young artists to use your imagination and creativity and let your art t ell compelling stories, and you did an excellent job. D TP chairperson and GBPA planning compliance officer A ndrea Grant agreed and also commended the group: Art evokes feelings and emotions and inspires people. Thats why we found it so important to i ncorporate art into the Downtown Turnaround Project. Wew anted to inspire people and bring an element that has not b een addressed before into the citys centre, and eventually wed like to spill that art throughout the city. The new, 1,495 square foot, h andicap accessible, Downtown Welcome Centre and Bus Tran s it Station houses a jointlyshared Royal Bahamas Police F orce and Road Traffic Division satellite office, restrooms and eateries. The top three finalists will assist with painting a mural on t he rear wall of the facility. In addition, musical talents o f some of the islands choirs will be displayed on December 1 1 when GBPA officials host a Christmas Concert in the park ing lot of the new Downtown Welcome Centre. C M Y K C M Y K LOCAL NEWS PAGE 6, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM .,'=&,7< $QXQHQWKXVLDVWLF S HUVRQFRXOGPDNH\RX PLQG DERXW LGHDV 4WffkFSk^ad a XRWH Downtown mural contest artists receive awards J UDGES IN THE DOWNTOWN MURAL COMPETITION: R esponsible for choosing the winners in the recent high school artistic competition were local artists (l-r Saint. The mural competition was held in conjunction with the opening of the new Downtown Welcome Centre and Bus Transit Station in the citysc entre. DOWNTOWN WELCOME CENTER MURAL COMPETITION WINNERS: Downtown Turnaround committee members present gift baskets of art supplies to the top three finalists in the Downtown Welcome Centre Mural Competition. Committee members, who are employees in the Building and Development Services Department of GBPA, pose along with the winners (left to right bell, deputy director; Jemar Simms, second place winner; Rico Cargill; Teneko Rolle, winner; Andrea Grant; Shakiel Deleveaux, third place winner; Dudley Francis; Caroline Murphy, art teacher, and Nakira Wilchcombe.


SENATOR Allyson M aynard-Gibson in her capacity as president of the International Womens Forum (IWF Hashemite Kingdom ofJ ordan last week followi ng the recent election of the first woman from thec apital Amman to the Jordanian Lower House of P arliament. IWF Jordan president Reem Badran in her coun-t rys November 2010 elections became the first woman in Amman to win a seat in the Lower House of Parliament through direct competition, running as an Independent. She is also the head of t he Investment Committ ee/Arab Economic Council Arab League. M rs Badran accompanied Mrs Maynard-Gibson t o a visit with the Jordanian Speaker of the Senate Taher Al Masri. A lso accompanying Senator Gibson was IWF board member Haifa Fawzi Yousef Dia, formerp ersonal assistant to HRH Crown Prince Hassan, e ducational consultant to Aga Khan Academies Unit and educational con-s ultant to the Jordanian Parliament. C M Y K C M Y K LOCAL NEWS THE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM %4+2674'*17)*6 By JOHNISSA THE Bahamian economy is poised to enter a period o f expansion like none it has ever experienced. A n umber of events are con verging that can create a momentum for growthw hich most other countries can only dream about. In order to maintain my policy of keeping my columns short I will listt hem. 1. The world economy has returned to a growth path. 2. The Baha Mar project is set to start. 3. The Port has been moved from East Bay Street and the land formerly used for the port has been freed for the redevelopment of downtown Nassau. 4. An investor with a credible record in Grand Cayman has shown an interest in the redevelop-ment of downtown. 5. The southwestern part of New Providence has come to life with Albany after more than forty yearsof depending on the rebirth of the failed South Ocean Club. 6. Developments in the Out Islands that were in hibernation are waking from their slumber. 7. The new LPIA is nearing completion. We need to support these by finally divesting BTC. I have read that there are some hitches but the longer we wait the less we will get. The entire country is being penalized with high cost and less than world class telecommunication services because of our outof-date telecommunications regime. We also now need to finally remove all exchange controls so that the massive amount of Bahamian capi-tal which is invested overseas will start to return to take advantage of the investment opportunities that are about to explode in The Bahamas. It is not often that so many positive events converge. When theydo we must thank God. Remember God helps those who help themselves. A GOLDEN OPPORTUNITY V IEWFROM A FAR J OHN I SSA S ENATOR ALLYSON MAYNARD-GIBSON i s received in Amman, Jordan on November 25 at the Senate by Speaker of the Jordanian Senate, Taher Al Masri (far left Senator Gibson was accompanied by IWF Jordan President Reem Badran (third from left b oard member Haifa Fawzi Yousef Dia (far right san, educational consultant to Aga Khan Academies Unit and educational consultant to the Jordani an Parliament. Senator visits Hashemite Kingdom of Jordan


By SIR RONALD SANDERS (The writer is a Consult ant and former Caribbean d iplomat) THE Canadian International Development Agency (CIDA to review with its Caribbean staff the state of play of regional integration in the Caribbean and ways in which CIDAs work couldhelp the process. This commentary is an abridged version of a longer and more detailed presentation. In reviewing the regions condition, I stated what we all know and that is that C ARICOM countries, except Guyana, have always witnessed grave economic d ecline. Of all the Caribbean C ommunity (CARICOM c ountries, only Guyana has witnessed continuous economic growth. According to the International Monetary Fund (IMF economy has exhibited r esilience, registering a fifth c onsecutive year of robust growth. Real Gross Domes-t ic Product (GDP j ected to grow by just under 4 per cent this year, above t he outturn in 2009, supp orted by increased activity in the sugar, gold, and services sectors. S adly, I had to admit that t he governments of the region have not seriously explored accelerating the regional integration process as one of the ways to ameliorate the worsening econ omic situation of their indiv idual countries. Indeed, what we have seen is divi-s ion among the governments a s they scramble to find indiv idual solutions to their cris is. The absence of cohesion l et alone unity in the scrambling around in the international field for whatever c herries may be picked has l ed to confusion in the body p olitic of the Caribbean people about the value of CARICOM, and added to t he uncertainty that hangs o ver the region as an omin ous cloud. I n a sense, it is unders tandable that governments h ave acted this way, although they are not witho ut blame. The regions institutions have produced no blue prints for how t ogether CARICOM countries might successfully deal with the crisis that confronts it. Even in the approaches f or borrowing from the IMF whether under its Stand-by arrangements (as in the case of Antigua and Jamaica) or i ts special windows (St Vincent, St Kitts and Grenada) there has not been a unified C ARICOM approach at l east on the framework of t he agreements and the conditionalites that the IMF continues to impose in its quest for exchange rate stability. That there is need for urgent reform of our region-a l institutions is beyond question. All of them need to focus squarely on the regions grave problems and c onduct the research and development desperately needed to help formulate a nd implement well thought o ut policies over a range of a reas, including food and energy security, climate change and disaster prep aredness all of which are now pressing problems in t he region and pose what Professor Norman Girvan rightly describes as exist ential threats. Over the last few years, t he actions of some governments have weakened the integration process andw eakened belief in it. These actions include deliberate p olicy positions to expel CARICOM nationals from s ome countries; shabby treatment of CARICOM nationals at airports; and the s ascendancy in Trinidad and Tobago of the view, a mongst a small but influe ntial minority, that CARI COM is a burden and, more worryingly, that Trinidad and Tobago is a superiorn ation to other CARICOM states and should graduate itself out of CARICOM. C M Y K C M Y K PAGE 8, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Canada can do more for the Caribbean, so can the Caribbean WORLDVIEW SEE page 10 S S a a d d l l y y , I I h h a a d d t t o o a a d d m m i i t t t t h h a a t t t t h h e e g g o o v v e e r r n n m m e e n n t t s s o o f f t t h h e e r r e e g g i i o o n n h h a a v v e e n n o o t t s s e e r r i i o o u u s s l l y y e e x x p p l l o o r r e e d d a a c c c c e e l l e e r r a a t t i i n n g g t t h h e e r r e e g g i i o o n n a a l l i i n n t t e e g g r r a a t t i i o o n n p p r r o o c c e e s s s s a a s s o o n n e e o o f f t t h h e e w w a a y y s s t t o o a a m m e e l l i i o o r r a a t t e e t t h h e e w w o o r r s s e e n n i i n n g g e e c c o o n n o o m m i i c c s s i i t t u u a a t t i i o o n n o o f f t t h h e e i i r r i i n n d d i i v v i i d d u u a a l l c c o o u u n n t t r r i i e e s s .


GOVERNOR-GENERAL Sir Arthur Foulkes, speaking at the One Bahamas Service at Ebenez-e r Methodist Church Sunday evening, briefly traced Bahamian history from the first meeting of Spaniard and Lucayan to todaysB ahamians who over the years came from Europe, Africa, Asia diverse in race colour, creed and ethnicity to live as one peo-p le in peace and unity on these islands called The Bahamas. Following is Sir Arthurs address: I SHOULD like to begin b y reading a few lines from Dr. Paul Alburys book, The S tory of The Bahamas: The Spaniards made every gesture of goodwilla nd friendship they could think of. They held out t empting gifts, brightly coloured beads, tinkling bells and beautiful cloth. The Lucayans moved towards them, timidly at first, but with increasinga ssurance. They looked into each others eyes, touched e ach other and exchanged gifts. This meeting of Old and New World peoples on a Bahamian coral beach was s urely one of the most dramatic events in the history of man. That is how Dr. Albury described the historice ncounter and turning point that opened up the Americas to European exploitation, created what we have come to know as the New World, and changed forever the course of human history. T hat was also the begin ning of centuries of history written in blood about thec ruel exploitation of man by man. It began with the b etrayal and annihilation of the Lucayans by the Spaniards, which isd escribed in a poem by another Bahamian man of letters who lived a century ago. H is name was Henry Christopher Christie, and his m agnificent epic poem, which is unfortunately little known today, is titled Black-b eard: A Romance of The Bahamas. I should like to read just a few lines from a section of the poem, The LucayansL ament, words the poet put into the mouth of a surviving L ucayan chief. The Lucayan describes the idyllic life enjoyed by theo riginal inhabitants of these islands, and then he says in part: Ah! day of days, accursed day T he day when Lucay fell, T he Spanish guns within the bay, S ounded our funeral knell, And slowly as a funeral t rain, The people swarmed from h ill and plain, And on the ships of cursed Spain T hey passed from Heavn to Hell. The sad history continued with the brutal enslavement of Africans in the New World and of countless wars and persecutions. The beau-t iful islands of The Bahamas were a magnet for noble saints and grievous sinners, people who came and took and left. B ut many who were brought by force and many who came by their own free will stayed, put down their roots, and became thea ncestors of a new people: the Bahamians. We are the Bahamians. Over many years they came from Europe andA frica, and some from Asia; and they came by direct as w ell as by circuitous routes. Many of our forebears d iverse in race, colour, creed and ethnicity came by way of the United States, SouthA merica and the other islands of the Caribbean. B ut today we are one people with a distinct identity among the nations of thew orld. We are Bahamians. We have come through many trials and tribulationsb ut now we joyously celebrate the blessing of being a ble to live as one people, in peace and unity, and to call one of the most beautiful spots on the planet our h ome. The natural heritage which helps to shape the Bahamian personality is replete with island jewels seti n thousands of square miles of crystal clear azure blue and emerald green waters, with magnificent coral reefs, sun-drenched beaches, forests, fascinating blue holes, spectacular sandb anks, lakes and creeks. That heritage also encompasses rich marine resources,f rom passing jacks to pink snappers to blue marlins; b eautiful plant life, from cas carilla to yellow elder to lignum vitae; and spectacu-l ar avian life, from the hum mingbird to the roseate spoonbill to the glorious flamingo. We are Bahamians, and we have woven a single, richc ultural tapestry of threads from Africa, Europe and Asia, threads spun and coloured in the Americas and the islands of the Caribbean. We are now one people, O ne Bahamas, proud of our music, proud of our songs and dances, proud of our folklore, proud of our works of art. We are also proud of the national institutions thatl end us stability and bind us C M Y K C M Y K LOCAL NEWS THE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Governor General addresses One Bahamas Service S EE page 18 ONEBAHAMASSPEECH: Sir Arthur Foulkes


MIAMI A SLEEK outer space looking solar powered catamaran is heading for Mia mi, according to Associated P ress. Swiss engineer Raphael Domjan says the 102-foot-l ong Turanor PlanetSolar is t he world's largest solar powered boat. The vessel docked in Miami this weekend. T uranor's deck is covered in 5,700 square feet of pho tovoltaic panels of thin glasst hat charge a gigantic lithiu m ion battery. The vessel can last on bat tery for three to four days if there's no sun. Domjan is p lanning a eco-adventure a round the world on the catamaran. T he Turanor costs about $ 20 million. There is not sufficient acknowledgement in any CARICOM country of the benefits that regional integration in all its aspects bring to each of the countries; and those benefits (from which Trinidad and T obago and Barbados are the principal beneficiaries) go far beyond intra-regiona l trade. An overarching problem f aced by the region is the f ailure of governments to i mplement the decisions taken jointly in CARICOM for the establishment of a Single Market and Economy; and a weak CARICOM Secretariat as an instrument for promoti ng regional integration a nd as a mechanism for pushing for the implementation of decisions, as well as a centre for preparing a nd implementing regional p rojects including accessi ng funding from external agencies. With regard to the private sector, both the global reports on Doing Business and on Competitiveness have rated C ARICOM countries with n o exception as plagued with problems. These problems range from high crime in certain countries to excessively bureaucratic p rocedures, high port c harges, lack of business innovation, and even inade quate telecommunications t o support information t echnology enterprises. But they also include an absence of legal and otherf acilitating frameworks that would allow cross-border mergers and acquisitions of similar competing companies in member states, and not enough incentives for integrating production in t he region. S o, what could agencies s uch as CIDA do to help a dvance the regions econ omic and social progress? F irst, CIDA should consider helping the region, through regional institut ions in collaboration with C anadian institutions to u ndertake research and d evelopment in the followi ng areas: food and energy s ecurity, disaster preparedness, climate change, and low carbon strategies. An institution such as the U niversity of the West Indies could be the central C aribbean partner in this undertaking. The purpose would be to develop wellr esearched strategies, policies and implementation m echanisms for governments in each of these a reas. Second, it is well known that every year a goodly n umber of Doctors, Nurses and Teachers trained in the C aribbean at the expense of Caribbean taxpayers are encouraged to migrate to C anada. Canada gets the b enefit of their skills and k nowledge at the C aribbeans expense. C IDA might consider maki ng an annual contribution on a predictable basis over an agreed number of years, to Caribbean institutions t hat train these people from whose skills Canada b enefits. In that way, the Caribbean institutions would be able to train as ufficient number of people annually to satisfy C anadas needs (much cheaper than Canada could d o it) while retaining others to cater for Caribbean demands. T hird, Canadian commercial banks have existe d in the Caribbean for over a hundred years. Over these years, Canadian banks, which now domin ate the banking industry i n the region, have made h uge profits that have been repatriated to Canada for Canadian development. Could not CIDA now encourage these commercial banks to set aside a portion of their profits, m ade in the Caribbean, for a llocation to a Caribbean Development Fund from which governments and the private sector could draw low cost loans for developm ental projects? This m oney would not be a giveaway; it would be a l oan except that it would b e at non-commercial t erms and it could be targeted to projects for sustainable development. I suspect, the Free Trade Agreement currently being negotiated between Canada and CARICOM given the fact that the benchmark will be the existing uneven Economic Partners hip Agreement between t he Caribbean and the E uropean Union will do t he Caribbean little good. R esponses and previous commentaries at: C M Y K C M Y K PAGE 10, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Canada can do more for the Caribbean, so can the Caribbean T T h h e e r r e e i i s s n n o o t t s s u u f f f f i i c c i i e e n n t t a a c c k k n n o o w w l l e e d d g g e e m m e e n n t t i i n n a a n n y y C C A A R R I I C C O O M M c c o o u u n n t t r r y y o o f f t t h h e e b b e e n n e e f f i i t t s s t t h h a a t t r r e e g g i i o o n n a a l l i i n n t t e e g g r r a a t t i i o o n n i i n n a a l l l l i i t t s s a a s s p p e e c c t t s s b b r r i i n n g g t t o o e e a a c c h h o o f f t t h h e e c c o o u u n n t t r r i i e e s s . FROM page eight Shar e your news The Tribune wants to hear from people who are making news in their neighbour hoods. Perhaps you are raising funds for a good cause, campaigning for impr ovements in the area or have won an awar d. If so, call us on 322-1986 and shar e your stor y. $20 MILLION SOLAR POWERED C A T AMARAN T O CRUISE GLOBE


C M Y K C M Y K T HE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 11 By MIKE LIGHTBOURN A S YOUprepare to sell y our home or property, you p robably expect to have a For Sale sign out front, information on the Multiple Listing Service (MLS an Open House, among othert hings. If you expect top dollar in today's market, you can count on your BREA professional to provide many more services in addition to those three most obvious elements of successful marketing. The agent will hand le all aspects of the s ale, from helping you stage your home to attract purchasers right through the negotiation of thep urchase offer. S omewhere in the m iddle of all that is effective marketing through online advertising, targeted mailings, and personal networking,n ot just on behalf of the BREA agent, but through a whole team of professionals. When that offer c omes in, the experts i n the office spring into action, helping the entire process move along smoothly, hopefully to a sat-i sfying conclusion. Y our BREA agent h as a personal stake in selling your home for the highest price possible in the shortest time possible. If your listingl anguishes on the market, it becomes like stale bread that might sell for half price at the supermarket. T ime and money are directl y related, whether we're talking about bread or houses. Price your home competitively from the start, present it in the finest manner possible, andm arket it through the expertise o f a professional supported by a network of experts. Tip of the Week I know this is repetitious, but remember: PRICE PRICE PRICE (Mike Lightbourn is president of Coldwell Banker Lightbourn Realty). Stale real estate is like stale bread REALESTATE M EXICO CITY MEXICO'Sfederal police have capt ured a presumed leader of a crossb order drug gang suspected in dozens of killings, including the slaying of a U.S. consulate worker, authorities announced Sunday, according to Associated Press. Arturo Gallegos Castrellon, 32, was arrested Saturday in the border city of C iudad Juarez, which is considered the most violent city in Mexico. G allegos is suspected in last Janua ry's killing of 15 youths at a party, a m assacre that shocked even the violence-hardened people of CiudadJ uarez, and in the March murder of a U .S. consulate employee in that city, regional security chief Luis Cardenas Palomino said. The alleged gang leader is also accused of killing five federal agents in unrelated attacks. Gallegos is purported to be one of t he leaders of the Aztecas gang that operates both in Ciudad Juarez and a cross the border in El Paso, Texas. T he Aztecs work as hired assassins f or the Juarez cartel, which is fighting its rival, the Sinaloa cartel, for controlo f Ciudad Juarez and lucrative bord er routes for smuggling drugs into the United States, Mexican authorities say. Two other members of the gang were arrested with Gallegos on charges of transporting drugs and weapons.Authorities said they seized 2 28 cartridges, 90 grams of marijuana and four vehicles, one of them a rmored. Mexico captures an alleged leader of Aztecas gang


A group of 243 senior citizens came together on Wednesday to break bread and give thanks for life. The Urban Renewal P rogramme invited 27 seniors from each of the nine community centres in N ew Providence to a T hanksgiving luncheon at t he New Providence Community Centre on Blake Road. I n addition, each centre wanted to make certain everyone received a meal this year and independently had a Thanksgiving luncheon within each commu nity. D uring the luncheon at t he New Providence Com munity Centre the senior citizens took a walk downm emory lane with Jack Thompson, Director of Immigration. He led them to remem b er the progress they have witnessed in the Bahamas over the last 70 years. From transistor radios t o rabbit ears television antennas, from the Savoy Theatre to the Silver Slipper, from the House ofS ales to flannel shirts and polyester. When I thought about how many years we havei n this place, I thought about what you must have witnessed in your lifetime. Then, I was thinking about the olden days and years passed and one of my favourite songs is Through all the changes, think of life, said Mr Thompson. Serious It is a good thing to give thanks to God. Ingratitude is a serious thing. Even if you give some thing to your children or your grandchildren, you like for them to say thank you. And so when God gives us a day, it is important for us to say, thank you God for giving us a brand new day. The Farm Road Urban Renewal Band entertained the senior citizens with a Junkanoo rendition of popular hymns and holiday classics such as Silver Bells. Ella Lewis, national coordinator of the Urban Renewal Programme, welcomed the seniors and thanked them for their patience and compassion as caring parents and community builders. We are doing well today because of who you are and the contributions you have made, said Mrs. Lewis. You are the lovers of our children, lovers for the family, lovers of the church, and for that, we are thankful. Thank you for coming out and having a good time. You will have a good time today. The menu included Bahamian holiday staple dishes such as turkey, ham, peas and rice, macaroni and cheese, beets, and coleslaw, served with a homemade fruit punch. C M Y K C M Y K LOCAL NEWS PAGE 12, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM LUNCHEON: A group of 243 senior citizens gathered to give thanks with the Urban Renewal Programme at a luncheon held at the New Providence Community Centre on Blake Road. They were welcomed by Ella Lewis, national coordinator of the Urban Renewal Programme and Jack Thompson, director of Immigration, who was the master of ceremonies at the event. Gena Gibbs /BIS SENIORS GIVE THANKS FOR LIFE AT URBAN RENEWAL LUNCHEON LEFT: The seniors enjoyed a buffet style banquet fit for royalty. Volunteers for the Urban Renewal Programme took turns serving the tables. T he menu included Bahamian s taple dishes and a homem ade fruit punch.


CARACAS, Venezuela PRESIDENTHugo Chavez is promising to build new public housing complexes, boost social programs and renovate the longneglected Caracas subway and he needs money, according to Associated Press. The ambitious plans will squeeze Venezuela's coffers at a time when oil earnings have slipped and Chavez is sending his foreign allies generous amounts of crude on credit. So he has raised a possibility that once seemed remote: selling off Venezuela's U.S.-based oil company, Citgo Petroleum Corp. For Chavez, it's an idea driven both by hard-money realities and by politics. Getting rid of the company and its refineries in the U.S. would give Chavez billions of dollars for domestic spending as he approaches his 2012 re-election bid and seeks to remedy problems including an acute shortage of affordable housing.A sale would also fit with the leftist leader's interest in distancing Venezuela from the U.S. while building stronger ties with allies such as Russia, China and Iran. Citgo has delivered oil to Venezuela's No. 1 client for two decades, but judging by Chavez's complaints about Citgo not turning a profit, he seems more than ready to sell it, if a buyer can be found. "Citgo is a bad business, and we haven't been able to get out of it," Chavez said in a televised speech late last month. He ordered his oil minister, Rafael Ramirez, to look at options for selling off the state oil company's assets in the United States. Chavez says the Houstonbased company could be worth at least $10 billion, but analysts say it would likely fetch much less perhaps half that and it might be hard to find a buyer ina difficult economic climate. The government's budget next year not counting the additional spending often approved by Chavez's congressional allies is the equivalent of $47.5 billion, making the possible sale of Citgo a potential shot in the arm for the president's efforts to shore up support. Critics say that selling Citgo could endanger Venezuela's long-term business interests since oil is the lifeblood of the economy and much of the earnings come from the U.S. Chavez, meanwhile, has increasingly sold oil elsewhere under less profitable deals aimed at cementing relationships with friends abroad. "It's hard for rational o bservers to understand that (Chavez from U.S. clients that pay cash for Venezuelan oil, in order to supply countries that consider Venezuelan oil almost as a right or as a political gift," said Gustavo Coronel, an energy consultant and former executive of s tate oil company Petroleos de Venezuela SA (PDVSA ever, Chavez is no longer driven by economics but by ideology." If Chavez were to go ahead with a sale, Venezuela would likely seek to negotiate a supply contract to keep selling crude to U.S. refineries. E ven so, Venezuela's oil exports to the U.S. have been declining while Chavez has sought to diversify the country's markets, shipping more crude under preferential deals to allies including Belarus, Cuba and other Caribbean islands. Some buyers are granted low-interest loans, decreasing upfront revenue. Oil shipments to the U.S. declined from 49 million barrels in February 1999, when Chavez took office, to 31.9 million barrels during the same month last year. Venezuela's overall oil output has also been declining due to lower OPEC quotas and experts say inadequate maintenance at some oil fields. While Venezuela says it produces about 3 million barrels of oil a day, the U.S. Energy Information Administration estimates 2.2 million barrels a day in 2009, down about 190,000 barrels from 2008. Coronel said that when Venezuela bought Citgo, it was a good deal. PDVSA purchased 50 percent of the company in 1986 from Southland Corp. for $290 million as part of a drive to have its own refineries and other facilities in its key markets, the U.S. and Latin America. The state oil company purchased the remaining 50 percent of Southland's shares in Citgo in 1990 for $675 million. Since then, Citgo has grown. It now operates three refineries in Texas, Louisiana and Illinois, and sells fuel through thousands of gas stations. Citgo has been used by Chavez to distribute discounted heating oil to poor American families in a high-pro file program aimed at criticizing Washington's approach to the needy. Another motive for selling Citgo could be to reduce Venezuela's exposure to U.S. court suits over Chavez's expropriations of U.S. company assets. U.S.-based Exxon Mobil Corp. has sought international arbitration to claim billions of dollars in compensation after it refused to accept the government's terms for a 2007 nation alization of an oil project in which it had invested heavily. Citgo, for its part, took a $201 million loss last year, and issued $3.5 billion in bonds this year as its profits plummeted. Profits were battered by lower world prices and a declining flow of heavy, sulfur-laden crude. "I don't think there would be much interest now" in buying Citgo, said Lou Pugliaresi, president of the Energy Policy Research Foundation, a Washington-based think tank. "But Chavez might find a buyer at the right price." None has publicly stepped for ward yet. Exxon and other major U.S. refiners such as Chevron Corp. and ConocoPhillips might end up being interested in Citgo or some of its assets, said Guaicaipuro Lameda, a former PDVSA president and govern ment critic. "It has the potential to be a good business if it's well managed," Lameda said. "But it's not being well man aged, and that's causing problems." C M Y K C M Y K INTERNATIONAL NEWS PAGE 14, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM JOB VACANCYCable Bahamas Ltd. Nassau Bahamas Robinson Rd. at Marathon Job Objective: Responsible for all sales activities, from lead generation through close in an assigned territory. Responsibilities: Oerings within assigned territory in New Providence business owners and decision makers. and clients of the various solutions the company oers to their business issues. including sales calls, presentations, closed sales, and follow-up Tools to maintain accurate records to maximize territory potential. Job Specifications: requirements. Outlook). Please e-mail your resume to Closing Date: Cable Bahamas Ltd is looking for vibrant and energetic Sales Executives for its Commercial Sales Segment Seeking cash, Chavez looks to sell Citgo IN THIS FEB. 13, 2006 FILE PHOTO Kenmore Square and the landmark Citgo sign are seen from the roof of the John Hancock Tower in Boston. Venezuela's President Hugo Chavez is up for re-election in 2012 and is already in campaign mode: promising new public housing complexes, ordering renovations for the long-neglected Caracas subway and budgeting more money for education, health care and social programs. Looking for cash, he has raised the possibility of selling off Venezuela's U.S.-based oil company Citgo Petroleum Corp. (AP


C M Y K C M Y K LOCAL NEWS PAGE 18, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM together as one nation, institutions built on the concepts of freedom, equality and democracy, and the rule of law which is handmaiden to the sovereign justice. For all these things we give thanks and we cel ebrate with great joy. Most of all, we celebrate the rich diversity of the Bahamian people who have come to this gateway to the New World to form a microcosm of that New World. We celebrate the good fortune that we Bahamians have been blessed with so much talent, talent way beyond the measure of our small number. It may be because of the wonderful environment in which we live, or perhaps the rich genetic pool from which we have descended; but whatever it is, it is certainly a wondrous thing. Not just today, but for generations our small nation has excelled in many pursuits on the great world stage. Some of the names of great Bahamians who have carried our fame abroad are known to us, but some need to be rescued from the obscurity into which they have been allowed to fade. There is Sidney Poitier who with grace and dignity shattered the colour barrier in American cinema and powerfully influenced the struggle for civil rights and our own struggle for equality here at home; Bert Williams, who left the Bahamas in 1884 at the age of 10 to become a great vaudeville comedian and recording artist, who made America laugh and appeared in a command performance at Buckingham Palace; Paul Meeres, perhaps the great est cabaret dancer of his age, who mesmerized audiences on both sides of the Atlantic with his phys ical beauty and poetry of motion; Randolph Symonette, the young man who sailed out of Inagua on a schooner and became a singer with the Metropolitan Opera in New York and with opera houses in Europe; John Berkeley Peanuts Taylor who became famous for his artistry on the drums and performed for audiences around the world; Joseph Spence whose magical mastery of the guitar is celebrated internationally and whose inventive technique is being studied in international music institutions. And then there was a young Bahamian who stunned the world in 1964 and put the Bahamas on the international sports map for the first time with a gold medal in sailing. His name is Durward Knowles and he is still happily with us. Sir Durward has been followed by an impressive procession of ath letes who have made the Bahamas, having regard to its small size, a great world sports power: Tommy Robinson, Andre Rodgers, Tonique Williams, Debbie Fergu son, and many more. And they are still coming. There are others who have excelled or are just beginning to make their considerable mark in the arts and academics both at home and abroad: Brent Malone and Jackson Burnside, Lynn Parot ti and Lavar Munroe, Franz Hepburn and Cleveland Williams, Domek Rolle and Christian Camp bell, and many others. As we pledge our allegiance to the flag which represents this Com monwealth bequeathed to us by history, by nature and by the sacrifices of our ancestors: Let us pledge to become more aware of our natural, historical and cultural heritage and commit our selves to the vigorous protection and conservation of that heritage; Let us pledge to learn more about and to cherish the national institutions through which the will of a free people is expressed and through which we are governed by consent; Let us pledge to resist criminali ty and other toxic influences by showing more traditional Bahamian civility and respect towards one another, and courtesy to our visi tors; Let us pledge that no accident of birth, no conviction of faith, shall diminish to even the slightest degree the privileges of citizen ship of a single Bahamian: not race nor colour; not creed nor ethnici ty; not gender nor circumstances of birth. If we do these things we shall overcome our present and future challenges just as our ancestors did and they had even higher moun tains to climb and wider rivers to cross and we shall pass on to future generations a more stable, more prosperous, more united, One Bahamas. May God bless the Commonwealth of The Bahamas. t hem, we take them to court, and we s oon see them back on the streets again. Well they live in the Bahamas and you cant make them disappear. The point is we go after them again and again and soon we have this pinch point where folks say but youre picking on me. A 32-year-old man, who was with Mr Berry at the time of his death, was also shot after a culprit armed with a firearm began shooting in their direction in front of a residence. The 32-year-old shooting victim w as taken to hospital by emergency m edical services, however Mr Berry died of his injuries at the scene. The gunman was said to have approached the victims in a burgundy coloured Nissan vehicle, which police believe to be the 1994 Nissan P rimera, license plate 153612, that w as discovered on fire moments later at St. Josephs graveyard on Tyler Street. Police investigations into both criminal matters continue. According to the commissioner, the police have recovered more than 270 illegal weapons this year, and m ore than 6,000 rounds of ammunit ion. Mr Greenslade said: There is a market, we have got to look at ourselves all of us there are far too many issues that we allow to go unchecked. There are some fundam ental questions that arise as a result o f that and so while were not going to berate anyone we simply say there is a lot of work to do in this country. Fridays shooting incident took place at Nassau Street and Deans Lane shortly before 10pm. It was reported that the 22-yearo ld victim was shot in the head after t hree men one armed with a handgun approached his residence and called for him. Investigations into this matter continue. Mr Greenslade said: Unfortunately, in our country there is a c ore group of prolific offenders who c ommit very serious crimes, they are armed with illegal handguns of various sorts, theyre involved in the drug trade, and they would never not hesitate to cause harm to another human being. Many of them have been in and out of the system, we are well aware as to who they are, but we live in a democracy and we have to allow the rule of law to take its course and certainly to allow the system to w ork. H e added: What you hope is that we will continue to respect each other, that if we dont, well develop some sort of respect for each other, that we will respect the inherent dignity of human life. when he came to her room about 45 minutes after she called the front desk for emergency help because her husband appeared to be having a heart attack. Mrs Bell, a resident of California, vacationed at the Atlantis Resort with her husband Paul Neil Bell last August. He died shortly after arriving at the hospital on August 25, 2009. His last words to his wife were that everything would be okay, said court papers. According to documents filed in the United States, Mr Bell awoke in his hotel room around midnight on August 25, 2009 with heart attack symptoms. It is alleged that Mrs Bell imme diately called the hotel's front desk asking for medical assistance explaining the urgency of the situation. The court papers say Mrs Bell asked if the hotel had a doctor on site and was told by a desk clerk that a doc tor was available and would be dispatched immediately. Mrs Bell claims she waited on the line with the desk clerk for 45 minutes and help had still not arrived. She claims that 45 minutes after placing the call to the front desk for emergency assistance, a hotel security guard not a doctor came to her room. Another security guard soon followed, the court papers claim, who allegedly told Mrs Bell that he would call the front desk and ask for an ambulance. It is claimed that during this time, Mrs Bell repeatedly asked the desk clerk for the doctor that was said to be on his way while the clerk assured her that a doctor would be there soon. It is further alleged that within minutes of the second security guard's arrival, a man arrived claiming to be a doctor but it was later discovered that he was the property's assistant manager. A short time later emergency medical technicians arrived and administered emergency treatment to Mr Bell and took him to hos pital by ambulance. Mr Bell died in the ambulance shortly after arriving at the hospital. "Had prompt and adequate medical attention been provided by the defendants or alternatively had the defendants promptly summoned appropriate medical and rescue person nel, Paul Neil Bell would have survived," the complaint claims. Mrs Bell alleged that Kerzner and its staff breached its duty of care to her husband, in part, by "failing to respond within a reasonable time" to her request for emergency assistance; "failing to timely summon emergency personnel"; "failing to adequately train its employees in CPR and other life saving techniques"; and "failing to render emergency life saving techniques such as CPR to her husband. Kerzner International Ltd and its subsidiary companies Island Hotel Company Ltd and Paradise Island Ltd are listed as defendants in the law suit. Mrs Bell, who is in the process of becoming the personal representative of her husband's estate, is listed as the plaintiff and is asking for a jury trial. about the business of helping in the community at every opportunity, never seeking t he limelight for his good deeds. He had a g reat sense of humour, a sharp wit, which h e shared with everyone around him. As a father and grandfather, he was loving and s tern in equal measures, and encouraged them (children and grandchildren venture, advising but not dictating. A fter deployments in England, Wales, S cotland and Norway during World War I I, the Royal Air Force veteran met his wife Yvonne while he was stationed in the Bahamas. Although he returned to the UK after the war ended, Mrs Wilson said that her f ather had fallen in love with Yvonne and after just over a year, he returned to the Bahamas and married her. It was in 1947 that he returned to Nas sau and to Yvonne, and taught at Queens College for five and a half years, becomingS enior Master and served as Acting Head master, said his daughter. An avid reader, he enrolled at St Davids College when he was 15 years old and sup-p orted himself as a freelance reporter, attending council and education committees as well as covering the courts. I n addition to his love and skill in history, English and writing, he was also a decorated athlete in track and field and soccer. Mrs Wilson added: Fred was very proud of his family and the fact that he had been able to send three children off to good universities. He was never happiert han when he was in the midst of a family gathering, especially in the earlier years, with Yvonnes sisters, Peggy and Cynthia and their families, and Ernest her brother, and later on with sons-in-law and daughterin-law, grandchildren and great grandc hild. M r Cadman joined the East Nassau Rotary in 1963, and became its president in 1978. For his invaluable service, he receivedT he Paul Harris Award, the highest award Rotary offers for service to the organization and community. S he added: Although he had been born far away from The Bahamas and had wonderful memories of his country of birth,W ales, Fred loved The Bahamas and its p eople, and was never prouder than when, in 1975, he was made a Belonger with full citizenship. Fred leaves us with wonderfulm emories; he will be greatly missed and f ondly remembered by so many. Mr Cadmans funeral will be held on Tuesday at Trinity Church, Frederick Street, at 2pm. taxes are not new. "I don't think I heard any o f the airline operators say t hat this isn't a legitimate tax t hat's owed, so that's not the issue. The issue seems to be t hat it wasn't paid and they would like some kind of relief in time to pay it. But that is am atter for the Ministry of F inance," said Mr Vanderp ool-Wallace yesterday. "I am presuming that if they were running their businesses properly that they would have factored that cost into (their b ooks), but this is not a new charge so I can't imagine how this would have had that kind o f problem (paying the duty Recently the Comptroller of Customs issued a 14-day order to at least 17 of thec ountry's 31 private aircraft operators to pay an unspecified amount of duty on an undetermined number of aircraft or risk seizures. The agency threatened aircrafts eizures if companies did not contact the department's Investigation Section to have the "matter resolved within four t een days" of receiving the communication. On Friday, one operator claimed that the national flag carrier Bahamasair could not pick up the slack if private planes were outo f operation because it provides fewer seats today than it did in 1974. Mr Vanderpool-Wallace said he did not know the financial conditions of the p rivate aircraft operators s o he could not say if government's tax demands would hurt the industry orr aise prices for intra-island travel. "I don't know, I can't s peculate, I don't know what their financial situation is," he said. W hen asked if his ministry would meet w ith the operators to help facilitate an amicable solution, the senator said: "We are facilitating a whole variety of thingst hat we want to enable these operators t o continue to deliver good quality of ser vice to the Bahamas, but when it comes to taxes that is between them and the Department of Customs." Governor General addresses One Bahamas Service FROM page nine 2010 murder count passes the record FROM page one POLICECOMMISSIONER Ellison Greenslade W oman claims husband died due to Atlantis employees negligence FROM page one Celebrated Rotarian and teacher Charles Frederick Cadman dies aged 89 Minister uncertain of unpaid duties impact on private aircraft operators FROM page one FROM page one TOURISM Minister Vincent V anderpool-Wallace


RIO DE JANEIRO POLICEand soldiers charged into Rio's most dangerous slum at daybreak S unday, seizing the bastion o f the city's biggest drug g ang in a battle to make the seaside metropolis safe for the Olympics and soccer's World Cup, according to Associated Press. Black-clad officers p oured into the Alemao slum complex amid heavyg unfire, with helicopters flyi ng low overhead. But the officers encountered less resistance than expected and they declared victory two hours later, even if many gang members still remained inside. A Brazilian flag was r aised at the shantytown's h ighest point at midday. I t was the biggest victory y et in a two-year effort to d rive drug gangs from their strongholds in the hundreds of shantytowns, many draped across the hills around Rio's beaches, a crusade driven in part by the need to make foreign v isitors feel secure for the final matches of the 2014 World Cup and for the 2016 O lympics that are meant to b e showpieces of Brazil's e mergence as growing world force. Rio de Janeiro Gov. Sergio Cabral said thec ampaign against gangs will go forward. "We will continue to con q uer more territories and give peace to our citizens and the foreign visitors who come here," he told GloboT V. O fficials have already imposed order on more than a dozen other formerg ang strongholds, even encouraging tourism along streets once echoing with gunfire. T he gangs, feeling threatened, reacted violently, mounting mass robberies of motorists on key highways,b urning more than 100 buses and cars and shooting up police outposts. T he government countera ttacked with hundreds of s oldiers and thousands of police in armored vehicles, first driving the gangsters from the Vila Cruzeiro slum on Thursday, then neigh boring Alemao their most ambitious target yet 72 hours later. At least 36 people, mostly suspected drug traffickers, have died in the gang violence and resulting police raids in the past week. Officials earlier warned that as many as 600 gang members were holed up in Alemao, a district of some 85,000 people, but by night fall Sunday they had made only a handful of arrests, including a few of the slum's reputed top gang leaders. Police said they think at least 200 gangsters remain hidden in the slum, and warned that sporadic shootouts were likely in the coming days. At least one suspected trafficker was killed in the invasion andat least two people were injured. "We won," said Mario Sergio Duarte, head of Rio state's military police. "We brought freedom to the res idents of Alemao." Inside the slum, large piles of trash littered a main dirt road that ran with raw sewage. The iron gates of storefronts were drawn, their surfaces pocked with bullet holes. Spent rifle cas ings littered streets. Slum residents, under siege for days, took advantage of the break to restock food supplies. Old women, young boys and teenagers leaned against the edges of their squat shacks quietly surveying the new scene, but often hustled inside when a police contingent walked by. Some residents said the government had a negligi ble presence in the area for at least a decade and feared it would not last. The gangs will be back. I have no doubt they escaped a nd will return after the p olice leave," said a young p regnant woman, whispering and declining to give her name for fear both of gangsa nd of the police standing guard a few feet away. "How big a police post will they need to secure this whole place? I don't think they can do it." A woman at the counter o f the St. Luzia da Alvorad a bakery hurriedly dis missed questions and would not give her name. It's too dangerous to talk in here," she said, looking toward a dozen policemen who were taking ab reak, eating bologna sandw iches, drinking colas and watching a small television showing images of the raidt hey were taking part in. Francisco Antonio Xavier, a 34-year-old cook who lives in the slum withh is wife and two young chil dren, was more optimistic. "I always hoped, I always knew they would come," he said of the police. "It's going to be a calmer place to live. Everybody is loving this. From today onward life is going to get better." Police and soldiers, too, were in a jubilant mood, hugging one another and enjoying the applause and shouts of praise from peo ple driving past. "There is no doubt that Rio residents have reason to celebrate today," said police inspector Rodrigo Oliveira. "The complex was seen as a fortress for drug traffickers and in less than two hours we took control." Police said they captured large amounts of weapons, ammunition and drugs in Alemao and showed off the finds as they were toted down from the top of the slum to the streets below. A large haul of contraband rifles filled the bed of one pickup. One of the weapons bore a sticker that read "No Stress" in English. Television images showed police entering a four-story home at the top of the slum believed to belong to one of the leaders of the Red Command drug gang that ruled the area. Its air conditioners, flat-screen TV, computer, whirlpool, pool and new appliances were a stark contrast to the bare wooden shacks that house most of the area's people. Within hours, small boys had taken command of the pool, cooling off in the heat and splashing one another with abandon. "This is exactly the thing we needed," said Ana Cos ta, 48, who lives in the Pen ha neighborhood a block from the slum. "This community has been so violent for so long that I never thought that I would see this day. I still have my doubts, but I'm praying that peace has finally come here." C M Y K C M Y K INTERNATIONAL NEWS T HE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 19 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM t DOOWKHZD\RQERDUG 'LVFRYHU\&UXLVH/LQH Police in Brazil raid gang-ridden Rio slum POLICEMEN PLACE a Brazilian flag at a top point of the Complexo do Alemao slum in Rio de Janeiro, Brazil, Sunday, Nov. 28, 2010. Rio's most dangerous slum that was the backbone of the city's biggest d rug gang was taken by 2,600 police and soldiers Sunday, an unprecedented accomplishment by a uthorities in their fight to secure this seaside metropolis that will host the 2016 Olympics. (AP


C M Y K C M Y K SECTIONB MONDAY, NOVEMBER 29, 2010 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held responsible for errors and/or omission from the daily report.$ $4.30 $4.45 $4.34 B y NEIL HARTNELL Tribune Business Editor RoyalFidelity Merc hant Bank & Trust will have grown investor assets in its internationa l mutual fund family from zero to $28 million i n three years if its latest $5 million TIGRS 4 ROYALFIDELITY GLOBAL FUND ASSETS SET TO REACH $28M TWOSCOMPANY: Michael Anderson and Joseph Euteneuer, manager of RoyalFidelitys mutual funds. Growth from zero over past three years is complete reversal of flagship Growth & Income fund, which has fallen over 50% from $40m to $18m over past two years* But Bahamian investors still scratching surface of diversification and return benefits from international investing* NIB keener than private investors, going beyond annual $ 25m allocation to invest with RoyalFidelity Executive surprised if more than half of annual $25m made a vailable to brokers for overseas investing used SEE page 9B By NEIL HARTNELL Tribune Business Editor RoyalFidelity Merchant Bank & Trust is seeking to develop and launch mutual fund products into the wider Caribbean market, leveraging the joint venture relationship it has with Royal Bank of Canada and the latters RoyRoyalFidelity targets region with mutual fund products Aims to leverage RBC relationship, even stronger with RBTT deal, to develop US dollar fund products for Caribbean* Eyeing new product for $10m i nvestor monies in TIGRS set to mature in June 2011 T argeting two TIGRS a year but feels wariness of new products and exchange control comfort zone has dampened international investment appetite SEE page 8B By ALISON LOWE Business Reporter M ore than 90 per cent of hoteliers would undertake capital upgrades in short order, potentially pouring an estimated $40-$50 million into the Bahamian economy, if the G overnment were to relax the requirements necessary for them to access concessions for such work under the Hotel Encouragement Act, according to the findi ngs of a recent survey. T he Bahamas Hotel Association (BHA has now forwarded the results of its October survey to the Government, with a call for consideration of an amendment to the Hotels Encouragement Act to temporarily e liminate the requirement that hoteliers m ust invest in upgrades equivalent to 25 per cent of the value of their property, in order to access duty concessions on materials related to those upgrades. A ccording to BHA executive vice-president, Frank Comito, a strong sampling of the nations hotels, particularly our smaller properties, were asked three questions w ith a view to determining the extent to w hich hotel upgrades and refurbishments could be stimulated with a change in the existing Hotels Encouragement Act investment requirement. $40-$50m boost if incentive is eased Over 90% of Bahamian hoteliers to undertake capital upgrades if Hotel Encouragement Act stipulation that they invest up to 25% of property value dropped SEE page 2B B y ALISON LOWE Business Reporter a A Bahamian wireless I nternet start-up is going into expansion mode, looki ng to take on an extra 10 employees over the next year as it seeks to transformt he way Bahamians and tourists access the Internet, m ake telephone calls and even secure their homes and businesses in New Provi-d ence. Jazztell, established by Leslie Pindling, began its life in 2008 through offering high-speed wireless Internetc onnectivity WiFi hotspots in downtown Nassau. In the last two WIRELESS INTERNET PROVIDER TARGETS EXPANSION MODE J azztell signs up 80 firms, and looking to add 10 extra staff in coming year S EE page 5B By ALISON LOWE B usiness Reporter More than a dozen Bahamian airline and char-t er operators have urged the Minister of Finance, P rime Minister Hubert Ingraham, to intervene and prevent the CustomsD epartments potentially crippling threatened s eizure of their planes over alleged unpaid import duties. M any commercial aviation operators were s hocked last Thursday to receive Customs letters informing them that if theyd o not seek to have resolved within two weeks unpaid customs dutyo n imported planes they operate, those craft could b e seized. The letters were the first formal communication theo perators said they had received regarding the pre v iously suggested intent of AIRLINES CALL FOR PM INTERVENTION ON SEIZURE THREAT SEE page 4B


C M Y K C M Y K BUSINESS PAGE 2B, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By ROYALFIDELITY CAPITAL MARKETS I t was a slow week of trading in the Bahamian stock market. Investors traded in six out of the 24 listed securities, with one decliner and the others remaining unchanged. EQUITY MARKET A total of 55,906 shares changed hands, representing a decrease o f 51,111 shares compared to the previous week's trading volume o f 107,017 shares. Commonwealth Bank (CBL leader last week, trading a volume of 50,100 shares to see its stock close unchanged at $6.85. Finance Corporation of theB ahamas (FIN u me of 1,315 shares to see its share price fall $0.03 to close at $7.23. BOND MARKET No notes traded last week. COMPANY NEWS E arnings Releases: T here were no earnings reports released last week. RoyalFidelity Market Wrap I NTERNATIONAL MARKETS F OREX Rates Weekly % Change Currency CAD0.9806-3.67 GBP1.5598-2.45 EUR1.3245-3.17 CommoditiesWeekly% Change C ommodity Crude Oil85.584.38 G old1,355.000.93 International Stock Market Indexes IndexWeekly% Change DJIA11,092.00-1.00 S&P 5001,189.40-0.86N ASDAQ2,534.560.65 Nikkei10,039.600.17 E QUITY MARKET TRADING STATISTICS Week ending 26.11.10 BISX CLOSING WKLY PRICE VOLUME YTD PRICE SYMBOL PRICE CHANGE CHANGE AML$ 1.01$-0-13.68% BBL$ 0.18$-0-71.43% BOB$ 4.90$-0-16.95% BPF$ 10.63$-670-1.02% BSL$ 5.01$-0-50.20% BWL$ 2.70$-0-14.29% CAB$ 10.46$-04.81% CBL$ 6.85$-50,100 -2.14% CHL$ 2.40$-221-11.76% CIB$ 9.74$-0-2.50% CWCB$ 1.83$-0.040-35.79% DHS$ 1.60$-3,500 -37.25% FAM$ 6.07$-0-6.47% FBB$ 2.17$-0-8.44% F CL$ 5.46$-014.47% F CLB$ 1.00$-00.00% F IN$ 7.23$-0.031,315 -22.09% ICD$ 5.59$-1000.00% JSJ$ 9.82$-0-0.30% PRE$ 10.00$-00.00% B OND MARKET TRADING STATISTICS BISX DESCRIPTIONVOLUME PARVALUE SYMBOL FBB13FBB Series 0$1,000 C Notes Due 2013 F BB15FBB Series 0$1,000 D Notes Due 2015 FBB17FBB Series0$1,000 A Notes Due 2017 FBB22FBB Series 0$1,000 B Notes Due 2022 Properties were surveyed in Andros, Abaco, Cat Island, Eleuthera, Exuma, Grand Bahama, Harbour Island, Long Island, New Providence and Exuma, and between them make up 20 per c ent of all room inventory in the Bahamas if one removes Atlantis from the equation, said Mr Comito. Eighty per cent of hotel properties surveyed said they had put a hold on refurbishments, capital improvements or upgrades during the past two years due to economic conditions. M r Comito told Tribune Business the big number in the survey is the 92 per cent of hotel properties who responded to say theyw ould either be likely or highly likely to be motivated to undertake investment in upgrades if the threshold (to qualify f or investment incentives in the form of duty exemptions on materials) were eliminated for a period of three years. Only 8 per cent said they were unlikely to be motivated by such a change, while none said they would be highly unlikely. Mr Comito said: This is a big issue, in particular for many s mall hotels throughout the country, and particularly in the Family Islands, which have been hit hard by the recession and need tou pgrade their product. If you were a small hotel with a market value of $2 million, you w ould need to come up with $500,000 worth of upgrades to take advantage of the duty-exemptions, an amount most small hotels w ould find difficult to attain in this economic climate when all they may need to invest is a much smaller amount to refresh their property. It should be noted that more than 70 per cent of the licensed small hotels (less than 75 rooms operated by Bahamians, he added. T he survey asked hotel owners where improvements would likely be made, and the estimated cost, minus customs duties. Some 96 per cent of properties said they would upgrade their equipment (including electrical, refrigeration, air conditioning, k itchen and plumbing), providing an estimated cost for this of $3.415 million A further 91 per cent said they would buy new linens, sheets, towels, tablecloths or napkins, at an estimated cost of $1.032 mil lion. The same percentage said they would invest in furniture and f urnishings at an estimated total cost of $4.574 million. Eighty-seven per cent said would they would undertake cons truction to upgrade their existing facilities, with this work esti mated to be worth a total $2.865 million Another 74 per cent said they would upgrade bathrooms, tubs, sinks and fixtures, at a cost of $2.512,000. Seventy per cent said they would purchase new glassware, china or silverware at an estimated cost of $339,500. And 44 per cent said they would like undertake construction t o build additions to their existing facilities, at an estimated cost of $452,900. M r Comito said: On an estimate, the change could stimulate by extrapolation from the survey results, quite a bit more than the $15 m illion indicated below.We suspect it would be in excess of $4050 million over the next 18 months if the investment threshold were eliminated today. M inister of Tourism, Vincent Vanderpool Wallace, yesterday told Tribune Business he had not seen the surveys results, and said t he issue would not fall directly under his purview, but in the Minister of Finances. Theres no question that the initial investment is something we would welcome, but obviously the question is what is the trade-off, h e said when the surveys results were put to him. Minister of State for Finance, Zhivargo Laing, did not respond t o e-mailed questions seeking comment up to press time. $40-$50m boost if incentive is eased F ROM page 1B


the Customs Department to collect tax on importedp lanes, which stands at 10 p er cent. Most operators do not deny not having paid the duty, but they claim this was in accordance with assurances given since 1995 that w hile the tax was on the b ooks, the Government was not minded to collect it, being of the position that the economic benefits associate d with planes being b rought into the Bahamas for use by local companies or private individuals, who w ould register them with t his nations aircraft registry, brought more benefits. Decade A ccording to some Bahamian airlines and charters, the planes at risk i nclude those which have b een operating in the Bahamas for up to a decade, being well known to the Civil Aviation Department and Customs. H owever, in a previous i nterview, Customs Comptroller Glenn Gomez, who signed the letters sent out too perators, claimed the companies would have been well aware of the rules and regulations governing planesc oming into the country as it relates to duty payable, and should now pay what should have been paidb efore. Mr Gomez further sugg ested that some companies could be charged a penalty on top of the tax for not having paid earlier. A t least one aircraft operator owes the Department around $700,000 in unpaidd uty, according to Mr Gomez, while it has been s uggested that most operators would owe at least several hundred thousand dol-l ars in tax. For a number of the opera tors, already hurt by the dampened demand for their services during the recession, they claim that to col lect the tax could put some companies out of business,f urther damaging interisland tourism They are also concerned that it is only legal opera tors licensed by the Civil A viation Department who are being hit with the charges, while illegal opera t ors hackers, who some claim outnumber legal o perators would be given yet another competitive advantage, besides the factt hat they do not pay other associated government fees, if they too are not asked to pay up. Representatives from a round 13 operators, includ ing Sky Bahamas, Western A ir, Southern Air, Golden Wings charters, Safari Seaplanes, Pineapple Air andm ore, gathered on Friday at an emergency meeting to d iscuss their approach to the letters. With the Customs Departm ent not having identified in the letters sent out how m uch they believe each individual operator owes the department, Randy Butler, owner of Sky Bahamas and president-elect of the Bahamas Aviation Associ a tion, accused the depart ment of going on a fishing expedition. Ex emption A nd he said that rather than complying with the d emand by the Department that operators contact them to have the matterr esolved within two weeks, the operators would seek permission from higher authorities for an exemption from that demand. We believe it is not the Governments intention to put us out of business. We are contributing so much to the economy and to tourism, and I am very confident the Ministry of Finance wants t o see business grow and the i slands grow in the long term, not just get a couple dollars in the short term. We will apply to the Minister of Finance for an exemption. W e are confident that if they treat us in the same way as o ther public transportation sectors they will give us t hat, said Mr Butler. He said the group will tell t he Customs Department t hey are awaiting a response from the Ministry of Financeo n their request. If the Customs Department does decide to simultaneously ground all of theo perators aircraft in the next two weeks, Mr Butler said the result would be crippling to inter-islandt ourism and the hotels, taxi d rivers and others that rely o n it. Bahamasair, with its l imited seat capacity, would n ot be able to pick up the slack, he said. As for the cost to the industry if the planes were seized, Mr Butler said it would be unquantifiable, adding that in addition to the business lost in ticket sales: Its the good faith that we would lose from the general public. Its hard to c alculate. L aurie Roach, owner of Golden Wings charters, a dded: Its the busy holiday season and we need to be able to make up what we lost over the last few months. Meanwhile, Paul Harding, o wner of Safari Seaplanes, said the situation is becomi ng obscene. The Ministry of Tourism is asking us to reduce our charges and other departments are squeezing us to the point where we cant operate, he said. C M Y K C M Y K BUSINESS PAGE 4B, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 38%/,&+263,7$/6$87+25,7< $'9(57,6(0(17 $&$1&,(6 (0(5*(1&<(',&$/(&+1,&,$1(07f%$6,& 7KH3XEOLF+RVSLWDOV$XWKRULW\LQYLWHVVXLWDEO\TXDOLHGLQGLYLGXDOV IRUWKHSRVW(PHUJHQF\0HGLFDO7HFKQLFLDQ%DVLF1DWLRQDO (PHUJHQF\HGLFDOHUYLFHVXEOLF+RVSLWDOV$XWKRULW\ $SSOLFDQWVPXVWSRVVHVVWKHIROORZLQJTXDOLFDWLRQV $ PLQLPXPRIWZRfVXEMHFWVDWWKH%*&(OHYHODW JUDGH&RUDERYH &HUWLFDWLRQDVDQ(PHUJHQF\HGLFDO7HFKQLFLDQ%DVLF ZLWKWKUHHf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t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rntr rtr #$ r "rnr$,tn/ tb,tn "b,n trb,tnb,tn$ t tnb,tn 2rtn0 br br b,tn $trb,tnb,tn brfnbrfnft6 "b,n r tb [] #t$&t'(#t QUALIFICATIONSAssociate degree in Business or related studies 3 5 years experience in claim management/verification preferred Excellent communication and interpersonal skills Excellent computer skills (Spreadsheets/database management) Knowledge of CPT-4 coding, ICD-9 and HCPCS preferred Ability to consistently manage multiple priorities and adapt easily in a rapidly c hanging environment Strong organizational, problem solving and decision-making skills Good oral and written communication skillsPOSITION SUMMARYT he successful candidate will: Be responsible for managing and monitoring a portfolio of insurance claims f rom various insurance companies and other third party payers; Develop favorable working partnerships and relationships with insurance c ompany and other payers representatives to facilitate reimbursement for the f acility; Monitor admissions to the facility Follow-up on delinquent accounts as needed Communicate with internal and external customers on a regular basis; Interact daily with various insurance companies and other third party payers; Provide management with monthly status reports of outstanding receivable b alance; Continuously participate in performance improvements to enhance service to o ur customers throughout the facility. S alary commensurate with experience E xcellent benefits AIRLINES CALL FOR PRIMEMINISTER INTERVENTION ON SEIZURE THREAT FROM page 1B Share your news The Tribune wants to hear from people who are making news int heir neighbourhoods. Perhaps you are raising funds for a good cause, campaigning for i mprovements in the area or have won an award. If so, call us on 322-1986 and share your story. RANDYBUTLER GLENN GOMEZ


months, the company has expanded its WiFi connectivity as far east as Montagu, targeting mostly boatersw ho dock in that area, and Cable Beach. The service a llows anyone with a wireless device phone or lapt op, for example to sign in to remotely access the companys Internet service for ad aily, weekly or monthly charge. They can log in, check the winds, see where they can go to get something toe at and drink, said Mr Pindling, of the benefits of the w ireless connectivity for sailors. H aving spent the last year establishing sites for its s trategically-mounted WiFi antennas throughout New Providence, Jazztell is nowr eady to offer WiFi Internet connectivity to homes and b usinesses throughout the island, something which Mr Pindling said should especially appeal to those who may not have BTC or CableB ahamas infrastructure servicing their area. We can cover about 75 per cent of the densely populated areas in the island,s aid Mr Pindling. In conjunction with this e ffort, Jazztell is also set to become a competitor to IndiGo and BTC when itl aunches its Voice Over Internet Protocol (VOIP phone product in January 2011, allowing homes and businesses without phones ervice to get it without the cost of traditional infrastructure installation. For those who are in an a rea with infrastructure in place, Mr Pindling said the c ompanys wireless Internet and VOIP phone product will be competitively priceda lternatives to getting Internet through companies such a s Cable Bahamas or BTC. Aiming to drive down the cost associated with adding as eparate VOIP handset, Mr Pindling said the company has technology to adapt regular phone handsets for VOIP use. If it can drive down prices and bring up the competitive edge thatll be veryg ood, although were not in there to compete against C able Bahamas. In the Bahamas there are many who dont have phone ser-v ice or cable, where BTC didnt go and Cable didnt g o. New Providence has exploded. I would like to give them alternatives tog etting access to phone and Internet with no dredging or digging at a lower price, said Mr Pindling. In the last two months, 80 b usinesses have signed on, and are now getting their Internet access through Jazztell, said Mr Pindling. Dunkin Donuts is currentlyu ndertaking a 30-day trial of the companys man aged wireless Internet serv ice, which will see cus tomers who purchase a d rink or food at a Dunkin Donuts outlet provided with a token which gives them a ccess to the outlets wireless Internet service for a period of one hour. They had problems with people coming in and buy i ng a drink and sitting there for five hours without buying anything else. This will help solve that problem for them, said Mr Pindling. Jazztell is also in discussions with BTVI about setting up a wireless Internet system on the colleges campus. We sat with them yesterday, very interested in doing it. The price is less than with a fixed cable because we dont have to dig a trench and lay the fibre, said Mr Pindling. Meanwhile, other more novel applications for thew ireless Internet connectivity Jazztell provides, and which have also been launched by the company in the last year, include pro-v iding the wireless backb one for a totally wireless r adio station Bahama Hot Ones and to allow wireless t ransmission of images from security cameras to monitoring screens. I n conjunction with security firm Migrafill, Jazztell has helped to set up wire-l ess security cameras in Cable Beach and in several p olice stations. These can be monitored remotely from specially designated monitors or other devices, such a s laptops or smart phones, without and moved easily d ue to their wireless connectivity. Mr Pindling intends for t he company to grow the security side of its operations by offering wireless CCTV surveillance technology to homes and business-e s, so that they, too, can remotely view from computers or phones what mayb e going on in their house or business establishment. J azztell currently employs five people, but Mr Pindling s aid its business plan for the coming year demands the addition of at least another1 0. Weve already grown out o f our space where we are now, and we are going to need more customer service,m ore installation teams and more on the accounting side, he said. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 38%/,&+263,7$/6$87+25,7< $'9(57,6(0(17 $&$1&<)25 $0%8/$1&('5,9(5$%$&2f 7KH3XEOLF+RVSLWDOV$XWKRULW\LQYLWHVVXLWDEO\TXDOLHGLQGLYLGXDOV IRUWKHSRVW$PEXODQFH'ULYHU$EDFR6WDWLRQ3XEOLF+RVSLWDOV $XWKRULW\ $SSOLFDQWVPXVWSRVVHVVWKHIROORZLQJTXDOLFDWLRQV &OHDQROLFHHFRUG $ YDOLG'ULYHUV/LFHQVHDQGDPLQLPXPRI GULYLQJH[SHULHQFH 0XVWKDYHH[FHOOHQWLQWHUSHUVRQDOFRPPXQLFDWLRQVNLOOV -2%$5< 5HVSRQVLEOHIRUWUDQVSRUWLQJSDWLHQWVDQGVWDIZKRUHTXLUH HPHUJHQF\PHGLFDODVVLVWDQFH6HFXUHVVFHQHDQGPDLQWDLQV VDIHW\$ELOLW\WRRSHUDWH7HPHUJHQF\YHKLFOHV '87,(6,1&/8'('%87/,0,7(' HVSRQGVLPPHGLDWHO\WRHPHUJHQF\FDOOV HFXUHVWKHVFHQHRIDQHPHUJHQF\VLWXDWLRQDQGPDLQWDLQV VDIHW\ $VVLVWVLQWKHDGPLQLVWUDWLRQRI)LUVW$LGDVGLUHFWHGWKHWHDP OHDGHU $VVLVWV7HDP/HDGHULQWUDQVSRUWLQJSDWLHQW SHUDWHVWKHYHKLFOHVDIHO\DQGHIFLHQWO\ DLQWDLQFRPPXQLFDWLRQEHWZHHQWKHVFHQH'LVSDWFKHUDQG $FFLGHQWDQG(PHUJHQF\'HSDUWPHQWLQFRPSOLDQFHZLWK(PHUJHQF\ HGLFDOHUYLFHV'ULYLQJURWRFROV /HWWHURIDSSOLFDWLRQDQGFXUULFXODYLWDHVKRXOGEHVXEPLWWHGWKURXJK \RXU+HDGRIGHSDUWPHQWWRWKH'LUHFWRURI+XPDQ5HVRXUFHV &RUSRUDWH3XEOLF+RVSLWDOV$XWKRULW\UG7HUUDFH: &HQWUHYLOOHRU3%R[1DVVDX%DKDPDVQRODWHUWKDQ WK 1RYHPEHU 127,&( ,17+((67$RI'2527+

al Bank of Trinidad & Tobago (RBTT and distribution channels throughout the region. Michael Anderson, the Bahamian-headquartered investment banks president, told Tribune Business in an exclusive interview that RoyalFidelity was especially interested in developing US dollar-denominated investment fund products, targeting the extensive US dollar stocks accumulated by businesses and individuals region-wide. Explaining that RoyalFidelity had hired Joseph Euteneuer as fund manager for this purpose, Mr Anderson told this newspaper: Where RoyalFidelity sees itself moving forward is launching TIGRS products into the Trinidad market or the wider Caribbean market, creating US dollar funds that sell in the wider market. Mr Euteneuer explained that apart from exploring the possibilities to expand the TIGRS family, RoyalFidelitys collection of mutual funds currently designed to give Bahamians international investment opportunities, the Bahamian-based investment bank would examine US dollar-denominated equity and fixed income funds anything that would appeal to the w ider market. Describing the merged Royal Bank/RBTT as the second largest commercial bank in the region, behind Scotiabank, and with a presence in markets such as Jamaica, Mr Anderson told Tribune Business: RBC, through RBTT, has distribution throughout the Caribbean, and we want to take advantage to leverage that relationship and get into the broader market, creating a series of funds that we sell into the broader Caribbean through the RBC/RBTT netw ork. R oyal Bank of Canada has a 50 per cent equity ownership interest in RoyalFidelity, the other half being held by Fidelity Bank & Trust International. Meanwhile, Mr Anderson said RoyalFidelity had already begun to expand its TIGRS product into the Caribbean, expecting that the latest addition to the family, TIGRS 4 would raise about $7-$8 million in Barbados dollars (the US dollar equivalent is about half that), compared to the $3 million in Barbadian dollars that one of its predecessors attracted last year. In a relatively short period of time, by introducing products like the TIGRS, weve been able to create a presence for ourselves in that market, Mr Anderson told Tribune Business. Meanwhile, the first member of the TIGRS family is due to mature in June 2011, and Mr Anderson explained that RoyalFidelity was attempting to develop another product into which investors could place their $10 m illion into for further investment. We try to bring out two TIGRS a year, one in June and one in December, and what were intending next June, at the maturity of the first TIGRS, is to find an investment those people who came into the first TIGRS can put their monies into, as well as attracting additional monies from new investors, Mr Anderson explained. Were very conscious that theres a bunch of money sitting in a TIGRS that needs t o get reinvested. Securities He argued that any Bahamian who had built a portfolio of securities investments should invest in RoyalFidelitys TIGRS funds,d escribing these as an essential part of a portfolio w hether for an institutional or retail investor. A nd while not wishing to give the impression that there were no or limited opportunities in the Bahamian capital markets, there were only so many places domestically where investors could place their funds, and the domestic market had been in a twoyear slump. Questioned as to why Bahamian investors had not bought into the concept of investing internationally more, even though their principal in RoyalFidelitys funds was 100 per cent protected, Mr Anderson suggested it stemmed from a combination of wariness and uncertainty over the unfamiliar TIGRS products, and having been long-induced into a comfort zone by the exchange control restrictions imposed on all residents. The RoyalFidelity president pointed out that while nobody else in the Caribbean had created anything like a principal-protected security, or something akin to a Bahamian Depository Receipt (BDR ence with the latter product was instructive. When the first BDR was launched for Kerzner International in 2004, Mr Anderson said out of $41 million made available, Bahamian investors subscribed for just $21 million, despite being familiar with Atlantis and Paradise Island. The same happened with the Consolidated Water BDR, which raised $7 million out of $12 million. Mr Anderson attributed this to Bahamian investor uncertainty, resulting from a lack of confidence in an unfamiliar product. He added that while exchange controls were often viewed as a barrier to resident investments, many had grown comfortable living behind what was seen as a protectionist barrier. There is a sense of protectionism, but its not recognised as a limitation, Mr Anderson explained. People have got so used to living in a comfort zone. Its hugely limiting in terms of what the upside could be, but most people do not see it that way. C M Y K C M Y K BUSINESS PAGE 8B, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.261.00AML Foods Limited1. 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.5980.2608.25.31%0 .580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2. 12.509.62Cable Bahamas10.4610.460.001.0500.31010.02.96% 2.842.36Colina Holdings2.402.400.002210.7810.0403.11.67% 7.005.40Commonwealth Bank (S1)6.856.850.000.4220.26016.23.80% 3.651.63Consolidated Water BDRs1.851.83-0.020.1110.04516.52.46% 2.551.60Doctor's Hospital1.601.600.000.1990.1108.06.88% 6 .995.94Famguard6.076.070.00-0.0030.240N/M3.95% 10.207.23Finco7.267.23-0.031,3150.2870.52025.27.19% 1 1.408.77FirstCaribbean Bank9.399.390.000.6450.35014.63.73% 5.513.75Focol (S)5.465.460.000.3660.21014.93.85% 1.001.00Focol Class B Preference1. 5.595.00ICD Utilities5.595.590.000.0120.240465.84.29%1 0.509.82J. S. Johnson9.829.820.000.9710.64010.16.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 9 9.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 1 00.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7 % Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029FRIDAY, 26 NOVEMBER 2010BISX ALL SHARE INDEX: CLOSE 1,482.76 | CHG -0.44 | %CHG -0.03 | YTD -82.62 | YTD % -5.28BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 1 9 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%Last 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51225.11%6.79%1.490421 2.92652.8300CFAL MSI Preferred Fund2.91871.10%3.13%2.919946 1.56551.4954CFAL Money Market Fund1.56553.87%4.48%1.545071 3.20252.8522Royal Fidelity Bahamas G & I Fund2.8624-8.16%-7.49% 13.638813.0484Royal Fidelity Prime Income Fund13.56421.47%2.95% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.13671.0000FG 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 Protected TIGRS, Series 19.74584.35%5.22% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6000-1.59%4.26% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.5037-4.96%-4.96% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund8.16435.79%9.42% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200731-Oct-10BISX Listed Mutual FundsNAV Date 31-Oct-10 31-Oct-10 30-Sep-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752531-Oct-10 30-Sep-10 30-Sep-10 12-Nov-10 31-Aug-10MARKET TERMS31-Oct-10 NAV 6MTH 1.467397 2.911577 1.530224 107.570619 105.776543 30-Jun-10 31-Oct-10 31-Oct-10 31-Oct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isit our website at PREQUALIFICATION OF CONTRACTORS FOR THE CONSTRUCTION OF THE COLLEGE OF THE BAHAMAS SMALL I SLAND SUSTAINABILITY FACILITY G LADSTONE ROAD, NASSAU, BAHAMASThe College of the Bahamas is seeking applications of interest from contractors for the proposed GTR Campbell Small Island Sustainability Facility on Gladstone Road. T otal Square Footage of the facility is 15,245. The facility will consists of 3 Main Buildings, 2 of Single storey construction and one of 2 storey construction. The proposed facility will be LEED certified. The project will include associated parking and site i mprovements. Interested Contractors can collect Pre-Qualification Documents from the Offices of Bruce LaFleur & Associates at2Nassau Court, P.O. Box F.H. 14-435 Nassau, Bahamas Tel: 1 (242 Fax: 1 (242 E: Documents areto be submitted by 5:00 pm on Friday 10th December. F ROM page 1B RoyalFidelity targets region with mutual fund products ere very conscious that theres a bunch of money sitting in a TIGRS that needs to get reinvested. M ichael Anderson


offering is fully subscribed, a total contrast to the moret han 50 per decline in value e xperienced by its flagship domestic fund over the same period. Michael Anderson, RoyalFidelitys president, toldT ribune Business that based on initial investor indications, the investment bank was still hopeful of seeing a fully subscribed offering fort he TIGRS 4, as he urged more Bahamians both retail and institutional investors to exploit the diversification and betterr eturns prospects that investing outside this nation offered. Lamenting that too few B ahamians to date had exploited the opportunities o ffered by RoyalFidelitys international fund family, and similar products pro-m oted by its rival, CFAL, Mr Anderson said he would b e surprised if this nations brokers had used 50 per cent of their collective$ 25 million annual foreign currency allocations provided by the Central Bank oft he Bahamas to launch such funds. N evertheless, he told Tribune Business that the fourstrong TIGRS fund familyw ould have $23 million collectively in funds under m anagement if the latest offering launched today is fully subscribed. This one isf or $5 million, and will join the $10 million invested with t he prototype; $3 million in the second TIGRS; and the $5 million invested with T IGRS 3, the commodities fund. If you add that to the international equity fund, which has just over $5 mil-l ion now, that brings the total invested in RoyalFidelitys foreign funds to $28m illion, which exceeds the Growth & Income Fund, w hich has about $18 million, Mr Anderson told Tribune Business. The RoyalFidelity G rowth & Income fund, which was launched in 1999, is the investment banks flagship domestic mutual fund, and Mr Andersona dded: Over the last three y ears, notwithstanding the crisis in international markets, weve been able to grow the asset base from zero to $28 million. We saw a reduction in t he Growth & Income fund, because at the end of 2008 it h ad $40 million in it. So b etween devaluation of securities and redemptions, i t has fallen by more than 50 per cent, while weve been able to expand inter-n ational market investments by $28 million. D espite the negative performance of the RoyalFidelity Growth & Incomef und, Mr Anderson said he was taking some encouragem ent from the small sense of change, namely that Bahamian investors weres tarting to buy into international investment opportun ities and recognising the limitations of the local market. H e even suggested there may be some correlation between investor redemptions in the Growth & Income fund, and increas-i ng investments in RoyalFi delitys international fund counterpart, indicating mon-e y was being switched from one to the other. There has to be a much larger pick-up of these opportunities, Mr Ander s on told Tribune Business. Theres a massive invest ment market out there. Hav ing been given an opportunity, [Bahamians] are nott aking full advantage of them. Were scratching the s urface. Hopefully, over the next couple of years, as US dol-l ars flow into this economy, there may be a revision of the amount of US dollarsm ade available [to the brokers], but at this stage the C entral Bank does not feel under pressure because there simply is not enoughd emand for it. Contrasted Mr Anderson contrasted t he relatively slow private sector take-up of internat ional investment opportunities via these mutual funds with the eagerness withw hich the National Insurance Board (NIB embraced approval for it toi nvest overseas. While NIB had permis sion to invest a relatively small amount of its invest ment portfolio, some $25 m illion per annum, in international markets, Mr Anderson said this was a step in the right direction when it came to diversifying i ts $1.6 billion Reserve Fund. The sum allocated to it w as the same as the $25 million shared between RoyalFidelity, CFAL and two oth-e r brokers on an annual basis, but Mr Anderson told Tribune Business: NIB hast aken full advantage, but were not seeing the same p ick-up among the Bahamian public. Theyve not really stepped up to take advan-t age of the opportunity...... NIB has even been buyi ng into our TIGRS to take advantage of international diversification. They get $25m illion per year themselves, but are buying into the T IGRS products to enhance their international exposure, whereas others who do noth ave the allocation are not stepping it up. The RoyalFidelity president said the portfolio diver sification and better invest m ent return prospects on international investments should be especially attrac t ive to pension funds, seeking an upside to meet actu a rial projections for the nec essary plan asset growth to meet liabilities. Theres only two brokers that have taken advantage o f opportunities to launch international funds, CFAL a nd us, Mr Anderson said. Theres a total of $25 million made available each year to the brokers, and as far as Im aware, only a frac-t ion of that has been used. Weve typically taken about half our allocation, which is $6.25 million a year, meaning weve probably used about $3-$4 million,s ome 70-80 per cent, a year. Thats driven by demand, and points to the fact that B ahamians have yet to get o n board with this. The biggest culprits are not indiv iduals but the institutional investors, who otherwise would not have the expo-s ure to international markets that they really ought t o be taking advantage of. Its one of the only ways to diversify outside theB ahamas. RoyalFidelitys TIGRS f unds, though, were attracting new investors all the time, typically attracting a couple of hundred each time one was launched. R oyalFidelitys TIGRS 4 fund is seeking a minimum $1.5 million, with minimum subscription levels set at $5,000 during an offeringp eriod that closes on December 10, 2010. The fund is a five year, closedend structure. It is structured to provide 6 0 per cent equity exposure to emerging market economies such as China, Brazil, Taiwan, Korea and Singapore, balancing thisw ith 20 per cent exposure to the S&P 500 Index and the MSCI European, Australasian and Far EastI ndices. This reflects RoyalFidelitys belief that emergingm arkets will provide better growth and investment r eturn opportunities over the next five years than developed countrye conomies, growing at 6-8 per cent as opposed to 2-3 p er cent, something already recognised by most multinationals. C M Y K C M Y K BUSINESS THE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM RoyalFidelity global fund assets set to reach $28m FROM page 1B Hopefully, over the next couple of years, as US dollars flow into this economy, there may be a revision of the amount of US dollars made available [to the brokers], but at this stage the Central Bank does not feel under pressure because there simply is not enough demand for it. Michael Anderson


C M Y K C M Y K I NSIGHT PAGE 10B, MONDAY, NOVEMBER 29, 2010 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 38%/,&+263,7$/6$87+25,7< $'9(57,6(0(17 $&$1&<)25 $0%8/$1&('5,9(5(:,'(1&(f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outh Korea A U.S. supercarrier and South Korean destroyer took up position in the tense Yellow Sea on Sunday for joint military exercises that were a united show of force just days after a deadly North Korean artillery attack, according to Associated Press. As tensions escalated across the region, with North Korea threatening another "merciless" attack, China belatedly jumped into the fray. Beijing's top nuclear envoy, Wu Dawei, called for an emergency meeting in early December among regional powers involved in nuclear disarmament talks, including North Korea. Seoul responded cautiousl y to the proposal from North Korea's staunch ally, saying it should be "reviewed veryc arefully" in light of North Korea's recent revelation of a new uranium-enrichment facility, even as protesters begged President Lee Myungbak to find a way to resolve the tension and restore peace. The troubled relations between the two Koreas, which fought a three-year warin the 1950s, have steadily deteriorated since Lee's conservative government took power in 2008 with a tough new policy toward nucleararmed North Korea. Eight months ago, a South Korean warship went down in the western waters, killing 46 sailors in the worst attack on the South Korean military since the Korean War. Then, last Tuesday, North Korean troops showered artillery on Yeonpyeong, a South Kore an-held island that houses mil i tary bases as well as a civilian population of 1,300 an attack that marked a new leve l of hostility. Two South Korean marines and two civilians were killed and 18 others wounded in the hailstorm of artillery that sent residents fleeing into bunkers and reduced homes on the island to charred rubble. North Korea blamed the South for provoking the attack by holding artillery drills near the Koreas' maritime border, and has threatened to be "merciless" if the current war games set to last until Dec. 1 get too close to its territory. As U.S. and South Korean ships, including the nuclearpowered USS George Washington, sailed into the waters o ff Korea's west coast Sunday, China began launching its diplomatic bid to calm tens ions. Washington and Seoul had been pressing China, North K orea's main ally and benefactor, to help defuse the situation amid fears of all-outw ar. China, slow at first to react, has quickened its diplomatic i ntervention in recent days. Chinese state councilor Dai Bingguo made a last-minute v isit to Seoul to confer with Lee. Lee pressured China to contribute to peace in a "more objective, responsible" matter, and warned Sunday that Seoul would respond "strong ly" to any further provocation, the presidential office said. Defiant The strong words were Lee's first public comment in days. He was due to address the nation Monday morning amid calls from his people to take stronger action in dealing with the defiant North. Appearing Sunday CNN's "State of the Union" Sunday, U.S. Sen. John McCain, the top Republican on the Senate Armed Services Committee, said China should rein in itsn eighbor. "The key to this, obviously, is China," McCain said." And, unfortunately, China is not behaving as a responsible world power. It cannot be in C hina's long-term interest to see a renewed conflict on the Korean peninsula." N orth Korea has walked a path of defiance since launch ing a rocket in April 2009 in violation of U.N. Security Council resolutions and aban-d oning the disarmament process in protest against the condemnation that followed. H owever, in recent months Pyongyang has shown an eagerness to get back to the t alks, and has appeared increasingly frustrated by U.S. and South Korean reluctancet o restart the negotiations. Seoul has said it wants an acknowledgment of regret for the sinking of the Cheonan warship in March as well as a concrete show of commitment to denuclearization. North Korea, which cites the U.S. military presence in South Korea as a main reason behind its drive to build atomic weapons, routinely calls the joint exercises between the allies a rehearsal for war. Washington, which keeps 28,500 troops in South Korea to protect the ally, insists the routine drills were planned before last Tuesday's attack. The exercises will take place over four days, but no live-fire drills are planned, said Cmdr. Jeff Davis, spokesman for the 7th Fleet in Japan. Along scenic Mallipo Beach o n the west coast, about 50 South Korean soldiers were laying down an aluminumr oad to prepare for an amphibious landing drill Monday. Barbed wire and metal s taves ran the length of the beach for about 2 miles (3 kilometers). Military shipsh overed in the distance. North Korea expressed renewed outrage over the Yellow Sea drills. The war games are a "pretext for aggression and ignite a war at any cost," the National Peace Committee of Korea said in a statement carried Sunday by the official Korean Central News Agency. T ense Hours earlier, the rattle of n ew artillery fire from North Korea sent residents, journalists, police and troops scramb ling for cover on Yeon pyeong Island. None of the rounds landed on the island, military officials said, but the incident showed how tense the situation remains. Saying they could not guara ntee the journalists' safety, South Korea's Defense Ministry sent a ship to ferry themo ff the island but bad weather forced them to cancel the evacuation. About 380 peop le, including 28 islanders and 190 journalists, remained on Yeonpyeong on Sunday, offi-c ials said. A similar burst of artillery fire Friday occurred just as the U.S. military's top commander in the region, Gen. Walter Sharp, was touring Yeonpyeong Island. No shells land ed anywhere in South Korean territory. Calls for tougher action made way Sunday for pleas for peace among about 150 South Koreans who turned out for a vigil Sunday evening in a Seoul plaza, huddling with candles in paper cups and chanting, "Give us peace!" "It was very shocking," said Kang Hong-koo, 22, a student. "I'm here to appease the souls of the people who were killed in the North Korean attack. I hope the current tense situation is alleviated quickly." US, South Korea launch war games in tense Yellow Sea A NORTH KOREAN female soldier, right, looks back as she and another patrol on a pathway along the bank of the Yalu River, the China-North Korea border river, near North Korea's town of Sinuiju, opposite to the Chinese border city of Dandong, Sunday Nov. 28, 2010. (AP C HINESE V ice Foreign Minister Wu Dawei speaks during a press briefing in Beijing, China, Sunday, Nov. 28, 2010. The Chinese envoy called Sunday for an emer gency meeting of North Korean nuclear disarmament talks to discuss the tensions on the Korean peninsula. (AP


C M Y K C M Y K INSIGHT T HE TRIBUNE MONDAY, NOVEMBER 29, 2010, PAGE 11B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM L ater that year, a police shooting in Bimini led to residents storming and burning down a police barracks and setting fire to the police station and three police boats. Rocks, bottles, bricks and conch shells were hurled at officers. Then commissioner Reginald Ferguson d enied most Biminites were involved, blaming the riot on "a couple of malcont ents on the island who create problems." In all these cases, the man occupying Mr Greenslade's office insisted that the p roblem was caused by a handful of troub le makers, but that no riot occurred. Each was trying to diffuse the situation, to create an atmosphere in which the police c ould foster better relations with the comm unity. The spirit of this effort is to be commended: the Bahamas must be wary ofa llowing anti-police sentiment to fester until it explodes as it did, for example, in Los Angeles in 1992, or coalesce into "nogo zones" for law enforcement seen ino ther Caribbean countries. The trouble is, trying to achieve this b y selling the public a line which they know does not reflect the facts is much more likely to confirm the suspicions of those who already distrust the police and create scepticism in the formerly assured. The day after the riot in Bain Town, a resident told The Tribune: "Something l ike this, this could be over in a minute you k now. It could just settle down and die, as l ong as the truth be told. See, this get s omething, the repercussion of this is the truth not being told." He was referring to the circumstances s urrounding Newbold's shooting, but the same could be said about how the police characterised what followed. After all, if they won't call a riot a riot, w hy should anyone believe their version of the shooting when it is finally revealed? The commissioner, who was nearby, p resumably heard the man's advice. Let us h ope he was paying attention. What do you think? e mail: pnunez@ Bain Town: not a riot? FROM page 12B POLICECOMMISSIONER Ellison Greenslade in Bain Town last weekend. WASHINGTON A LEADING Republican lawmaker on Sunday rejected the Obama administration's assertion that ratification of a new arms control treaty with Russia is so pressing that it must be dealt with by the lame-duck Senate, according to Associated Press. Sen. Jon Kyl of Arizona denied there was any partisanship behind his calls for a delay. He said the Senate has more urgent business to attend to in the weeks before it breaks for Christmas, includ ing dealing with potential tax increases and funding the government through the rest oft he budget year. "It's more a view of reality rather than policy," he said." These are higher priority items." Kyl said the treaty, known a s New START, is extremely complex and can wait until the Senate reconvenes with newly elected members in January. He also said he has unresolved concerns about the pact, which the administration has said is an urgent national security priority and should be voted on as soon as possible. "My issue is that you can't do everything" in the limited time the current Senate has, said Kyl, the No. 2 GOP leader in the Senate who has emerged as the Republicans' top arms control manager. Kyl's position has stunned the administration, which thought it had addressed his concerns. Officials have suggested he is simply trying to sabotage one of President Barack Obama's foreign policy priorities. "There's some game-play ing going on with the START treaty, and it's all about poli tics and it's all about trying to damage the president of the United States," said Sen. Claire McCaskill, D-Mo. But Sen. Lindsey Graham, R-S.C., said that Kyl has a valid argument. He said the nonbinding preamble to the treaty has been interpreted by the Russians as limiting America's ability to deploy missile defense systems. And, he said he was concerned that the treaty allows Russia along with the U.S. to pull out of the agree ment. "If it's going to be inter preted by the Russians that way, I need to know before Iv ote," he said. "If the Russians say that they will withdraw from the treaty if we develops trategic missile defense systems, I need to know that. If they that it doesn't mean that, t hen I think we're a lot closer to the treaty being enacted." Administration officials and Democrats have appealed for Kyl to drop his objections to considering START, maintaining that the United States would be less safe until the treaty were ratified. Inspectors Without it, as of next week, the U.S. will have had no weapons inspectors in Russia to verify cuts in its nuclear arsenal since the last treaty expired in 2009. "We live in a dangerous world," said Sen. Dick Durbin, D-Ill. "The failure of the Unit ed States Senate to ratify the START treaty immediately is going to cause a danger to the United States and its security." "There is no excuse for us to ignore this responsibility and to say we'll wait several months," he said. "While we wait, there will be no inspectors on the ground in Russia to make sure that their nuclear weapons are safe and treaty compliant." Rose Gottemoeller, one of the State Department's negotiator for the treaty, said START is "first and foremost"a U.S. national security inter e st. "It begins with the fact that it is our best way to predictw hat's going on with Russian nuclear weapons." Obama sees the treaty as an o pening for improved rela tions with Russia and has argued that it is essential for U.S. national security. It would reduce U.S. and Russian limits on strategic warheads and set up new procedures to allow both countries to inspect each other's arsenals to verify compliance. Republicans have called those verifications procedures inadequate and contended that the treaty would limit U.S. missile defense options. Most Republican senators probably would vote against the treaty. Others have said they would follow Kyl's lead. Kyl has argued that it does not make sense to reduce U.S. warheads until more is done to maintain and modernize the remaining arsenal. To answer Kyl's concerns, the adminis tration last week delivered a proposal to significantly boost funding for the U.S. nuclear weapons complex. Kyl and Durbin spoke on NBC's "Meet the Press." McCaskill and Graham were on "Fox News Sunday" and Gottemoeller appeared on CSPAN's "Washington Journal." Senator: Arms treaty less urgent than other issues SENATE Judiciary Committee member Sen. John Kyl


INSIGHT C M Y K C M Y K The Tribune INSIGHT MONDAY, NOVEMBER 29, 2010 The stories behind the news By PACO NUNEZ T ribune News Editor Riot (a t umult, or disorder (b l ent public disorder; specifically: a tumultuous disturbance of the public peace byt hree or more persons assembled together and acting with a common intent The Mirriam-Webster U nabridged Dictionary WORDS are important. H ow they are used exerts a p owerful influence on the way actions and events are defined and remembered. T his fact is not lost on Commissioner of Police Elli son Greenslade, who always chooses his words carefully.C onsider for example, his insistence that the disturbance in Bain Town following the police shooting ofS harmoco Newbold in which officers were attacked, pelted with stones,a patrol car was firebombed and several others seriously damaged should not be described as a riot. A ccording to thecommissioner, the incident was a "bad situation", in which community members were" alarmed and distressed" and which his officers found "a little unnerving." He said: "I offer no disre spect to the community of Bain Town. We had no riot, I want to be very clear ins aying that to the public no riot, nothing of that nature, but a community that is very concerned, veryd istressed..." Trouble is, the incident was unquestionably, unequivocally, a riot. It matched, in every respect, the dictionary definition of a riot. Everyone in Bain Town knows it was a riot. Every one who saw footage on TV or the internet knows it was a riot. Mr Greenslade's position was understandable given the circumstances. He acknowledged that police have a lot of work to do in Bain Town, his way of saying a negative impression of the force has taken root in that community and could be the source of renewed hostility in the future. The commissioner is hardly the first law enforcement officer or senior offi cial to defy the authority of Messrs Merriam and Webster with the best intentions. But there are consequences to calling something what it emphatically is not among them, that while you may influence public opinion, the results are sometimes the opposite of those intended. Consider how readers responded to the commis sioner's comments on trib "If that wasn't a riot," Gail H said, "I would love to know what Mr Greenslade's definition of a riot would be. Perhaps if they had utilised trebuchets and grenades instead?" Kesha L said: "So Mr Greenslade said it wasn't a riot... explain what is then! Because the photos in the paper sure look like one. And again we are only being told half of what goes on in Nassau. I think its terrible, this place will never change. The crime here has got out of control and nobody can do a thing about it!" Another reader said: "Put together an unruly mob, a burning car, stone throwing aggressive people and you've got a RIOT, especially when the police seemed like they didn't know what to do next. Mr Greenslade, you can try to be as polite as you want but you need to face facts: it was a riot and there will always be people who want to fight and cause trouble. The police needs to have a better response to show they're not afraid to do their job." Dion told the commiss ioner, "There are times you just have to call a SPADE a SPADE and let the chips fall where they may. Then, people will really respect you." Far from commending his efforts to sooth tensions in Bain Town, readers responded with sarcasm and derision. Worse, the gap between what they saw and what the commissioner said, led them to assume the police are hiding things, are not to be trusted, and are afraid to do their job the very impression Mr Greenslade was trying to counteract in the first place. And, not only does the commissioner's stance encourage the kind of antipolice sentiment which fuelled the Bain Town "disturbance", it also obscures a sobering reality: that the incident was only one in a series of riots over the last decade in which police were attacked, not because they happened to be trying to disburse a crowd, but as the specific targets of the mob's anger. In December 2002, the shooting of a man in Kemp Road sparked a riot in which a fire truck, a crime scene van, and five patrol cars were damaged. Sticks, bottles and rocks were thrown at police. Tear gas had to be used to control the crowd. Then, in 2005, two officers responding to reports of an accident allegedly acci dentally struck a 16-year-old girl with their patrol car. Angry residents surrounded the cruiser, and in the ensuing altercation the officers shot the girl's brother in the jaw while he was holding his two-year-old son. Officers reportedly exchanged fire with some residents, while others threw rocks at the police. Three civilians were shot during the incident. Then commissioner Paul Farquharson said there were two or three people making it impossible to calm the crowd, but that the crowd was otherwise orderly. In January 2007, Ridgeland Park residents threatened to riot after a police raid. Officers were accused of assaulting and beating the occupants of a home in the area. Residents claimed victimisation and harassment at the hands of police. Bain Town:not a riot? Police Commissioners reaction to disturbance B AINTOWN: P olice Commissioner Ellison Greenslade (obscured, centre, in striped shirt weekends events. Armed police at the scene, pictured right. SEE page 11B

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