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

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

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

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Full Text
THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 5B



Marathon’s 2500 nights put hotels on fast track



CROWD-PULLER: Sunday’s Marathon Bahamas drew big crowds.

FROM page 1B

dous benefits” from the
now-annual marathon, sug-
gesting that it was up to
Bahamians to now maximise
its potential, one way being
to attract some of the 28,000
field that attends the Miami
Marathon to these shores.

Detailing the economic
benefits Marathon Bahamas
had created, Mr Wilson told
Tribune Business that, in
alliance with the Susan G.
Komen Bahamas Race for
the Cure that was also held
on Paradise Island on Sat-
urday, the two events had
got “some really influential
and impactful people think-
ing about the Bahamas in
ways that can only help us”.

The Sunshine Insurance
chief said Marathon
Bahamas had gone from an
inaugural “one-day event to
a full Thursday to Monday
event”, with runners and
their friends/relatives arriv-
ing last week and going
home yesterday.

Some 1200-1500 visitors
were estimated to have
come to the Bahamas as a
result of the marathon and
Race for the Cure.

“That’s good for all the
hotels,” Mr Wilson told Tri-
bune Business.

Satisfied

“We are satisfied that
Marathon Bahamas gener-
ated 2,500 room nights, at
least, which at this time of
year is significant to
Bahamian tourism. This



FRANKLYN WILSON

time of year is a very slow
period.”

Looking at the wider
impact from Marathon
Bahamas, Mr Wilson said
there was evidence it had
attracted additional wedding
business for this nation, giv-
en that the winner got mar-
ried in this nation the day
before.

“There’s reason to believe
the marathon played some
role in where he decided to
get married,” Mr Wilson
said, noting that evidence of
the positive publicity bene-
fits the marathon accrued
for the Bahamas came from
the fact that both men’s and
women’s winners were from
Germany.

He added that last year,

Bahamas eyes 1500
visitor hoost in ‘12

FROM page 1B

of involvement.

Josef Forstmayr, president of the Caribbean Hotel and
Tourism Association said that “more buyers will be meet-
ing with more hoteliers” at this year’s Caribbean Market-
place than in 2010, something he said indicates that “the
business is coming back” in the industry.

In a speech at the opening ceremony on Sunday, Mr
Forstmayr said he hopes the region will strive for stronger
advocacy of tourism, greater regional integration to help
“remove barriers” to tourism within the destinations for
Caribbean nationals who can, in turn, help to “fuel the indus-
try, and the creation and launch of a sustainable marketing fund
for Caribbean tourism. He said such a fund is “over a decade

overdue”.

Stuart Bowe, newly-elected president of the Bahamas Hotel
Association, who was in Montego Bay to attend the event this
weekend, said the move to have the Bahamas host the event
next year will augur well for the country as a destination.

“Being the host of a very prestigious event like this will be
good for the Bahamas and the Caribbean, and it’s yet another
opportunity for us to partner with the rest of the Caribbean on

some of the Key issues,” he said.

The Bahamas last hosted the Caribbean Marketplace in

2008 at the Atlantis resort.

Hoteliers also welcomed the decision to have the Bahamas

again host the event.

Andrew Neubauer, director of aales and marketing at the
Sheraton Nassau Beach Resort on Cable Beach, told Tribune
Business he hopes the hotel will be able to “lock in” a consid-
erable number of room nights at the resort through securing
stays from delegates and media associated with the event.

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

German journalists present
at the inaugural event had
produced “immense press”
for the Bahamas, and this
was a Sign such coverage
had borne fruit.

And, while Marathon
Bahamas last year had to
“incentivise” merchants to
exhibit at the pre-race Expo,
the 25 present this year paid
to be part of it, Mr Wilson
said, with those involved
ranging from spas to med-
ical doctors and health food
providers.

“The range of persons
exhibiting at the Expos is
also evidence of growth,”
Mr Wilson said, pointing to
additional sponsors such as
Royal Bank of Canada, Sco-
tiabank and Robin Hood.
“There were also a whole
lot of people who joined us
as Sponsors who were not
there last year. That’s a very
healthy sign.

“When you look at the
array of sponsors Marathon
Bahamas had this year, it’s
very difficult to find any oth-
er event with such a broad
sponsor base. Very seldom
do you see that in the
Bahamas, the private sector
coming together with that
degree of breadth and

depth.” Other sponsors
included Atlantis, Emera,
Spirit, Diamonds Interna-
tional, Colombian Emeralds,
Pharmachem and BORCO.

Pointing to the “awesome
power” of the Susan G.
Komen brand in its field, Mr
Wilson said its entire lead-
ership had been here and
were “going back with posi-
tive vibes about the
Bahamas”.

Spin-offs

Asked about the potential
economic spin-offs, he
replied: “You've got to use
your imagination as to
where it could lead........
We've already started some
talks with the Komen organ-
isation. We will be the first
Komen walk in its 30th year
anniversary.

“It’s up to us to decide
what we make of it. From a
business point of view, we
genuinely have a platform
here that could impact the
entire country....... We are
very optimistic that next
year the trajectory could
grow even higher.”

Apart from the corporate
sponsorship and community

group fund-raising potential,
Mr Wilson said that 45 top
scientific minds on Friday
addressed the issue of breast
cancer, why 300-500 women
were diagnosed every year
with this, and why the aver-
age age in the Bahamas was
42 compared to 61 in the
US.

He added that he had met
Lee Moffett, who ran some
of Florida’s top cancer cen-
tres, for dinner, and “God
knows where that can lead”.

“We have managed this
week to get some really
influential and impactful
people thinking about the
Bahamas in ways that can
only help us,” Mr Wilson
told Tribune Business.
“Tonnes of people came

here who did not run.

“The national president of
the Links organisation was
here.

“There’s an opportunity
here for this entire country
to get tremendous benefits,
because we’ve just scratched
the surface.

“There are a number of
things the Bahamas has
going for it, which causes us
to be very optimistic about
where we could go.

“It’s a platform for any-
one doing business in the
Bahamas to work with us,
because the sky’s the limit.”

One such project, he sug-
gested, would be to attract
those runners who went to
Miami to the Bahamas.



Sandlewood Residences
St. Albans Drive

Beautiful spacious studio apartment.
Fully furnished
$550 to move in & $175 weekly
plus electricity
4 months minimum stay.

Tel: 325-1325 | 325-1408

























Senior Client Relationship Manager

Societe Generale Private Banking (Bahamas)

Lid., part of the Société Générale Group, is a

private bank providing a comprehensive

wealih managemnent service.

Societe Generale Private Banking is currently

looking to recruit a Senior Client Relationship

Manager. Your primary role will be to

introduce, maintain and grow profitable client

relationships in Latin America for Societe

Generale Private Banking (Bahamas) Ltd and

ensure adherence to legal, regulatory and

industry standards.

Yau should ideally hold the Chartered

Institute of Bankers Diploma or equivalent

professional qualifications, and have art least

8to 10 years’ international private banking!

marketing {sales experience. Strong

managerial and aperational skills is

mandatory

You should have excellent client relationship

and selling skills, an in-depth knowledge

SOCIETE GENERALE
Private Banking

Sethe Gandrake Mrevate Bankerrg (Bahama! Led. ta

litenied under Ehe Genk & Trost Lompinias Hegulabians: Act

of investment, trust and banking products

and fluenency in Spanish is mandadary .

Sone knowledge of Portuguese would be an

4sset, and proficient in the use of
Computers. The incumbent will be required
to travel on a regular basis to designated

marketing regions,

The position offers an attractive salary and

benefits package including, pension and

bonus schemes.

Applications should be submitted to the

fallowing acdidress, to arrive on or before 21

january 2011.

Head of Human Resources

Societe Generale Private Banking (Baharnas}

Lod
PO Box NFF789
Nassau

Bahamas





PAGE 6B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Why supermarket stocks.
are getting squeezed |

DAVID K. RANDALL,
AP Business Writer
NEW YORK

Orange juice isn't the only
thing at your supermarket
that’s been squeezed.

Rising food prices mean
grocery store chains must
absorb extra costs on items
like meat, seafood, and pro-
duce, or they try to pass them
along to customers. But many
of those consumers are unem-
ployed or have less money to
spend, even on essentials. For
now, the big chains are most-
ly choosing to absorb. As a
result, profits are falling, and
so are their stocks, making
them one of the few dim lights
in the market in 2011.

On Tuesday, Supervalu was
the first of the grocers to
report quarterly results, and
the numbers for its fiscal third
quarter were ominous: A loss
of $202 million, or 95 cents a
share, compared with a prof-
it of $109 million, or 51 cents,
in the same period a year ear-
ler. The company, which
operates Albertsons, Jewel-
Osco, Acme and other chains,
also cut its forecast for the
year.

"This is going to be a chal-
lenging year going forward to
manage inflation,” Supervalu
CEO Craig Herkert told ana-
lysts Tuesday. "It's just a fact
and we believe these infla-
tionary measures are going to
impact consumers.”

The result: "Investing in
(grocers) now is certainly not
for the faint of heart,” says
Philip Gorham, an analyst at
Morningstar.

The pressures supermarkets
are dealing with are felt else-
where, too. Soaring commod-
ity prices help energy and
agriculture companies that
produce raw materials. But
there are plenty of losers from
the commodity boom stuck
trying to pass on higher costs
to customers whose wages are
not rising as quickly. Evidence
of that came in the govern-
ment's inflation report on Fri-
day. The Consumer Price
Index rose 0.5 percent in
December, the largest
increase in 18 months. Most
of that was due to higher
gasoline prices. Food prices
increased just 0.1 percent, sug-
gesting grocers still aren't
passing along higher costs on







FOOD FOR THOUGHT: Shopping at the Family Dollar store Tuesday, Dec. 14, 2010, in Waco, Texas.





INTERNATIONAL
BUSINESS

most items. Forty million
Americans now rely on foods
stamps, up 50 percent from
four years ago, and the aver-
age price of gas now costs 12
percent more than it did at
this time last year. That's one
reason why middle and lower
income consumers are
increasingly going to super-
centers that offer less selec-
tion but cheaper prices than
traditional grocery stores.
Grocery sales at stores like
Walmart, Target, and Costco
grew at arate of 10 percent a
year over the past five years,
according to Packaged Facts,
a market research firm. Sales
at traditional grocery stores
are growing closer to 4 per-
cent.

For the first time last year
Wal-Mart Stores Inc. gener-
ated more than half of its U.S.
sales from groceries. The
company can offer cheaper
produce than a supermarket
because it can use its enor-
mous purchasing power to
buy complete crops of apples
in Washington and sell them
in the U.S, Japan and South
America, says Bernard Sos-
nick, a retail analyst at Gil-
ford Securities.

Not every grocer is feeling a
pinch from higher commodity
costs. Whole Foods Market,
which caters to shoppers who
don't mind paying extra for
organic lettuce, isn't as sensi-
tive to the 2 to 3 percent
bump in food prices this year
predicted by the U.S. Depart-
ment of Agriculture. Whole
Foods’ stock is up 88 percent
in the past 12 months.

"If you are an upscale oper-
ator your ability to pass on
inflation is much greater, but
the middle-income stores are
up against tough competi-
tion,” says Karen Short, an
analyst at BMO Capital Mar-
kets who covers grocery
stores. "The high-end con-
sumer is feeling better, but
the middle- and lower-income
levels are feeling much
worse."

Traditional grocers already

ROB GILLIES,
Associated Press
TORONTO

Kroger, Supervalu Inc. and
Safeway Inc. each lagged the

nearly a quarter century.

of about 2 percent or greater,

percent yield. The good news

Foods.

NOTICE

This is to inform the public that as of
January 10th, 2011

Mr DeVaughn M. Gow

UME

Jemi Health & Wellness
Company Ltd.

Therefore, HE IS NOT AUTHORIZED to
conduct any business or to act in any way for
Jemi Health & Wellness Company Ltd.


























LEGAL NOTICE
OLDENDORFF EXPRESS LINES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, commencing the 22"
day of November, 2010. Creditors having debts or
claims against the Company are required to send
particulars to Craig A. ony Gomez, Liquidator
of the said Company at the Offices of Baker Tilly
Gomez, The Deanery, No. 28 Cumberland Street,
P.O. Box N-1991, Nassau, Bahamas, within 30 days
from the date of this notice. In default thereof they
will be excluded from the benefit of any distribution
made by the Liquidator.

Dated the 24" day of December, 2010

Craig A. (Tony) Gomez
Liquidator

Monday.

85 percent of the value, from 90.
The new rules go into effect March 18.

meltdown in Canada when rates go up.

trouble in the medium and longer term," Flaherty said.

bank executives personally.

NOTICE

NOTICE is hereby given that LAURA LEA BAILEY OF P.O. BOX
EL-27585, SPANISH WELLS, ELEUTHERA, BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/naturalization
should not be granted, should send a written and signed statement of
the facts within twenty-eight days from the 8" day of JANUARY
2011 to the Minister responsible for Nationality and Citizenship,
P.O. Box N-7147, Nassau, The Bahamas.

NOTICE

NOTICE is hereby given that ANTHONY MACARTHUR TATEM
OF 31 BAHAMA BOULEVARD, FLAMINGO GARDENS,
P.O. BOX CR-54018, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should not be
granted, should send a written and signed statement of the facts within
twenty-eight days from the 8" day of JANUARY 2011 to the Minister
responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau,
The Bahamas.



(AP Photo/Paul Sakuma)

? MEDICAL LEAVE: Apple Computer Inc. chief executive Steve Jobs ges-
? tures as he unveils the first new Apple mini store in Palo Alto, Calif.,
| : Thursday, Oct. 14, 2004. Jobs attended a press conference, his

: first public appearance since he underwent cancer surgery in July. The
? 49-year-old executive took a month-long leave to recuperate and
quietly returned to work full-time in September.

Apple CEO Steve Jobs
takes medical leave

i JESSICA MINTZ,
? AP Technology Writer
i SEATTLE

Apple Inc. CEO Steve Jobs, the charismatic frontman for the

— —— company that overturned the smart phone industry and invented
(AP Photo/Tony Gutierrez) :

? anew category of tablet computers, is taking a second medical leave
? of absence in two years.

In the last decade, Jobs, 55, has survived a rare but curable

5 i ? form of pancreatic cancer and undergone a liver transplant. The
operate with low margins. ? news that he will again step down from his day-to-day role raises
The SHMC EAS. they sane facing ? serious questions about the CEO's health.
now is threatening those }
already slim margins. In # startup toa $65 billion technology trendsetter is in good hands with
December, Kroger Co., the { the current slate of talented executives — even as Apple, now the

largest grocery chain, lowered } Silicon Valley player to beat, faces increasing competition.

its full-year profit forecast. }

But analysts believe the company Jobs shepherded from garage

Jobs has played the role of industry oracle, seeming to know what

? consumers want even before they do. He is also known as a
? demanding and hands-on leader who is involved in even the small-
Standard and Poor's 500 stock }
index over the past six }
months. Supervalu was trad- }
ing close to 18 in April. Now, }
after falling another 15 per- }

cent last week to $7.39, the ;

stock is at its lowest point in ? swered questions about whether the CEO is acutely ill, whether the

i leave is related to his 2009 liver transplant or whether he is at home
Supervalu trades at 6.3 } O74 aoe!
ae oe Haaren coed work in just under six months, Jobs did not say in the note made
eee ee public Monday how long he would be on leave this time. He said

high. Kroger and Safeway } he will continue as CEO and will be involved in major decisions.

each trade at around 12 times } Chief Operating Officer Tim Cook will be responsible for all day-

estimated earnings, well } to-day operations.
below their five-year highs. }

Each offers a dividend yield } Jobs wrote. "In the meantime, my family and I would deeply

? appreciate respect for our privacy."
with Supervalu paying a 4.7 }

est details of product development. Investors have pinned much of
their faith in the company on Jobs himself, sending shares tumbling
on every bit of news or rumor of his ailing health.

For now, very little is known about Jobs’ current condition.
Apple did not provide any information beyond a six-sentence
note from Jobs to employees announcing his leave, leaving unan-

Unlike Jobs' 2009 leave of absence, when he vowed to return to

"IT love Apple so much and hope to be back as soon as I can,"

The company announced Jobs’ leave a day before the company

: is set to report quarterly earnings. U.S. stock markets were closed
for grocers is that some value }
investors, who pick stocks }
they think are undervalued, }

are starting to wade in. Some }

20 mutual funds added Super- } U-S., many believe the company can function successfully even

valu over the past six months } without Jobs in the corner office full-time — even with Apple at the

according to FactSet. More } forefront of a new revolution in personal computing.
se ee ne tty : thinness, focusing instead on the early success of the iPad with con-
fn pee Haies ane many fund : Sumers. Shares increased 53 percent last year to top $300. With
: Apple no doubt polishing the second version of the iPad and com-
managers bought Whole ? petition among tablet makers expected to heat up this year and
? next, some stockholders may fear that without Jobs, Apple could

: lose its lead to tablets running Google Inc.'s Android software or

Canada enacts tougher mortgage rules

products in the pipeline. And Cook, who is seen as a logical even-
? tual successor to Jobs, is no stranger to investors. He ran the
? Cupertino, Calif.-based company for two months in 2004 while Jobs
i battled pancreatic cancer, and again in 2009 during Jobs' most
Canada is tightening mortgage rules over concerns Canadians are ; teceat EIS CleH eave: APD tlieg 0 clone amie ily thet eae

taking on too much debt, the country's finance minister announced } ing a new version of the iPhone and updated laptops on schedule.

for the Martin Luther King Jr. holiday.
In Europe, investors reacted sharply and Apple's shares closed
in Frankfurt a staggering 6.6 percent lower at 243 euros ($323.02).
While some analysts expect Apple shares to sink Tuesday in the

In 2010, investors seemingly grew accustomed to Jobs' extreme

Microsoft Corp.'s Windows.
Analysts believe Apple has plans for several years' worth of

Since Cook, 50, began with Apple in 1998, he has been credited

Finance Minister Jim Flaherty said the maximum amortization ae oe el olin aaa pidcese lo solve chromesprod:
period for government-insured mortgages will be shortened to 30 } WEL delays an SUED S proses.

eats Tree yeas, law aie lowering the fmnit oa tow Bajarin of Creative Strategies, who has been covering Apple for
much money Canadians can borrow using their homes as equity to } de ace

"Steve is clearly still the visionary behind Apple," said Tim

But, Bajarin said, Cook "understands the way Steve thinks,

Flaherty said some Canadians are "borrowing to the max at HW Sieve ae a ao seas eee ane ee
low interest rates." Canada's central bank and the government have } ae merainangs AnanyE die else, he understands Apple, Aud
been urging Canadians for months to be wary of taking on too } in : ae pas ee re ae oee OF VISION OF SxeCHHOl eye
much debt. Household debt was a record 148 percent of disposable } EASE oteves Dobe ta ua:

income in third quarter last year, exceeding the U.S. level of 147 } : : : ‘
: : design and the materials, choices made by Jonathan Ive, Apple's

percent. The government wants to ensure there is no mortgage } : ; : : ;

? top design executive, and his team. Ive has been with Apple since

"We do not want to facilitate excessive debt assumption by 1996 and has overseen the industrial design ot the iPod, the ali-
some Canadians at very low interest rates because that will lead to : minum-bedy Macbook laptops, the iPhone and the iPad,

Apple's products can command a premium in part because of the

"He's responsible for the look and feel of the stores, the prod-

Flaherty said he consulted with the top executives of Canada's nets, the software. And 16-slight to Tim (Coo k), but we think
: ' : . . ¢ he's the most important person in the company,” said Shaw Wu, an

major banks. In Canada's concentrated banking system, five major } aneduat Yor Kaminak Bros

banks dominate the market and regulators know each of the top } y :

Without more information about Jobs' medical condition, it's

: impossible to say when the CEO might be able to return to work
: —ifatall.

Apple has a history of extreme secrecy when it comes to the icon-

ic CEO's health, disclosing major illnesses only after the fact.

The company waited until after Jobs underwent surgery in 2004

: to treat a very rare form of pancreatic cancer — an islet cell neu-
? roendocrine tumor — before alerting investors. That type of can-
? cer can be cured if diagnosed early, unlike the deadlier and more
? common adenocarcinoma.

By 2008, Jobs had lost a noticeable amount of weight, but Apple

attributed his gaunt appearance to a "common bug.”

In January 2009, Jobs issued a statement saying the weight loss

: was caused by a hormone imbalance, and that the treatment was
: simple.

He backtracked less than two weeks later, however, announcing

; a six-month medical leave. During that time, he received a liver
? transplant that came to light two months after it was performed.

Methodist University Hospital Transplant Institute in Mem-

phis, which performed Jobs' 2009 transplant, said Monday that he
: is not a patient. It declined to comment on his current condition.

Medical experts who do not treat Jobs can make some educat-

: ed guesses.

Dr. Michael Poryako, medical director of liver transplantation

? at Vanderbilt University Medical Center in Nashville, listed a
? slew of conditions that might be affecting Jobs, including jaundice
? and kidney and vascular problems — not to mention side effects
? from the immunosuppressant drugs patients take following an
? organ transplant.

However, he said it's unlikely Jobs’ body is rejecting his liver two

; years after the transplant.

"If the liver is functioning appropriately, people tend to return

to normal muscle mass and normal physiologic functioning, which
? makes them feel better and look better," he said.

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



THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 7B







Ep

demand.

Oil slips to near $91 after
China tightening move

PABLO GORONDI,
Associated Press

raised the prospect of weaker demand for crude.

cents to settle at $91.54 a barrel on Friday.

King holiday.
The euro fell to $1.3312 from $1.3385 late Friday making crude,

holding the European common currency.

inflation.
That suggested China's economic growth could slow further,

year high, and other fuels.
Hanover said in a report.

slightly the forecast for demand for its crude.

feet.

? MATTHEW

: PENNINGTON,

: Associated Press
: WASHINGTON

(AP Photo/Jeff Chiu) :
OIL PRICES SLIP: A man puts gas in his car at a Shell Station in Palo :
Alto, Calif., Thursday, Jan. 13, 2011. Oil prices fell to near $90 a bar- :
rel Friday as a disappointing U.S. jobs figure and a move by Chinato :

cool off economic growth dampened expectations of higher crude ;
: what they see as an underval-

? ued Chinese currency that is
? costing American jobs.

Chinese President Hu Jin-
tao's high-profile visit to Wash-
ington this week comes as new-
ly elected Republican lawmak-
ers are itching to act against

But they could run into resis-

: tance from their own party. In
? fact, Congress may be less like-
? ly to pass legislation on the
} issue than it had been last year,
: when both chambers were
? under Democratic Party con-
} trol. A bill to give U.S. compa-
Oil prices dropped to near $91 a barrel on Monday as the dollar } whi a re ol oe
gained against the euro, and after China's latest curbs on lending : “ a they view 25 aH Witte
} export subsidy sailed through
By early afternoon in Europe, benchmark oil for Februar i the House of Representatives
Selvery a down 39 cents at $91.15 a barrel in electronic adie i then bul Gied a tie Seale

on the New York Mercantile Exchange. The contract rose 14 — Charles Schumer, Debhic

Floor trading was closed in New York due to the Martin Luther Stabenow and Bob Casey —
: plan to introduce legislation this
: week to address the currency

Ss : ‘ : ? issue.
which is bought and sold in dollars, more expensive for investors }

Three Democratic senators

"The American dream is

China, the world's biggest energy consumer, on late Friday : ne a China, een
raised the amount of money banks must keep on reserve for the } ae - 4 oa ony eae
seventh time in a year — its latest move to curb lending and tame } ss leone tees ge

If passed, the legislation

: would impose stiff new penal-

denting demand for imported oil, which is trading near a two- } ties on designated countries
: that misaligned currency in a

Demand in the U.S. is also weaker at this time of year as New } es | cee enn a :
Year holidays are over and Americans are driving less. But any pos- | '7*< rs beeen ins A ae ee
itive economic news from the U.S., the world's No. 1 economy, } paris Om Capos Fa a ce on
could lift oil to near $93 a barrel, energy consulting firm Cameron } @2Y Companies ‘Tom those
? countries from receiving U.S.

Oil prices received some support from the monthly report from : BOVE ramen) COMUACIS:

the Organization of Petroleum Exporting Countries which raised Rem: Joht Bochner, voted

"In 2011, the demand for OPEC crude is expected to average } oy tne ae Bey ae
29.4 million barrels a day, an increase of 0.4 million barrels a day } erie . rae a .
over the 2010 level and an upward revision of 0.2 million barrels a } aaa ‘nea es ld makes
day over the previous assessment," the Vienna-based group said. } ae t . oo ee any
In other Nymex trading in February contracts, heating oil fell 1.19 } SUCTUSS!S Bon Oleg) layer

cents to $2.6333 a gallon and gasoline dropped 0.52 cent to $2.4894 } Gcabout . raed
a gallon. Natural gas futures lost 0.7 cent to $4.473 per 1,000 cubic } "O #D0Ut focusing SiTictly on
? currency while ignoring trade

? barriers and other issues. With-

The new House speaker,

but has appeared unenthusias-



(AP Photo/Susan Walsh)
GREETINGS: In this April 12, 2010, file photo, Chinese President
Hu Jintao is greeted by President Barack Obama during the official
arrivals for the Nuclear Security Summit in Washington. Jintao’s
high-profile visit to Washington this week comes as newly elected
Republican lawmakers are itching to act against what they see as an

undervalued Chinese currency that is costing American jobs.

out the support of such senior
Republicans, the bill may never
reach the House floor for a
vote.

Still, with unemployment at
9.4 percent and a presidential
election looming in 2012, the
issue won't go away. It is a pri-
ority for many lawmakers from
both parties, including some
new ones from the ultraconser-
vative tea party movement that
has reinvigorated the Republi-
can Party — and isn't afraid to
challenge its leaders.

Charles Freeman, a former
US. trade negotiator with Chi-
na, was struck by the eagerness
of new lawmakers to act when
he participated in a recent brief-
ing for them. "This is a crowd
that is anxious to do some-
thing,” he said.

US. manufacturers say the
Chinese government intervenes
in currency markets to hold
down the value of the yuan
against the dollar by as much
as 40 percent, making Chinese

products cheaper for Ameri-
cans while increasing the price
of U.S. goods in China. Since
China announced it would
allow more flexibility in its
exchange rate last June, the
yuan has appreciated just 3 per-
cent against the dollar. China's
leaders say relaxing currency
controls too abruptly would
damage its financial system,
hurt its exporters and wipe out
Chinese jobs. Ahead of his vis-
it, Hu said in written responses
to questions from the Wash-
ington Post that China has
adopted a "managed floating
exchange rate regime" deter-
mined by the balance of inter-
national payments and supply
and demand. He gave no indi-
cation that a major shift in the
exchange rate was imminent.
Currency is just one of many
critical aspects of the U.S.-Chi-
na relationship. The economies
of the two giants are deeply
intertwined. Trade between
them is worth $400 billion, up

sitopattendatie)

=| N ew US lawmakers want

from around $100 million 30
years ago when the USS. for-
malized diplomatic relations
with the communist govern-
ment. The US. relies on Chi-
na's purchase of Treasury secu-
rities to help breach the yawn-
ing budget deficit.

The Obama administration
also needs Beijing's coopera-
tion on combating climate
change, in dealing with reclu-
sive North Korea — which has
recently unveiled a new means
of making material for nuclear
bombs — and bolstering the
international pressure Iran on
its nuclear program.

The administration has tried
to strike a balance between
pressuring China on currency
while not undermining its rela-
tionship in other areas.

US. Treasury Secretary Tim-
othy Geithner last week criti-
cized China for moving too
slowly on allowing the yuan to
appreciate, and said it was pur-
suing an untenable economic
policy. But he still appears to
favor a lower-key approach of
continuing to engage China on
the currency issue rather than
using the blunt instrument of
the law, said Nicholas Lardy,
senior fellow at the Peterson
Institute for International Eco-
nomics. Lardy said he expects
Obama would likely veto any
currency legislation passed by
Congress, though the president
has not taken a public stand.

That is unlikely to deter law-
makers from trying again.

Lindsey Graham, a veteran
Republican senator, said he
planned to reintroduce a bill
early this year to give the Trea-
sury more tools to act against
China's currency "manipula-
tion." Graham, who has for
years joined forces on the issue
with Democrat Sen. Charles
Schumer, acknowledged "fault
lines" in his own party on
whether to push currency leg-
islation.

a=

ES a ANIM tim SIG LE Bi
2010 BIC & BECSE

National Awards Presentation Ceremony & Exhibition

“Rewarding Excellence iin National Examinations”
Thursday, 20th January, 2011 at 10:00 a.m.
CHURCH OF GOD AUDITORIUM (Joe Farrington Road)

Abraham Abel
Adama, Nathania
Adderley, Chamice
Adderley, Dawina
Adderley, Natalia
Adderley, Ashley
Adderley, Khiry
Adderley , Chantal
Alao, John
Albury, Jeruzha
Anderson, Lyric
Anderson, Toneshin
Archer, Jordan
Armbrister, Laquinton
Annbnster, Parge
Bain, Kyle
Bannister, Glenn
Bascom, Kern
Bethel, Pholan
Bethell, Chante
Bethell, Roddae
Rowe, Lynde
Bowe, Cednc
Bowe, Giowano
Bridgewater, Frednca
Brooks, Wilkia
Brown, Eeishaun
Brown, Dion
Brown, Damona
Brown, Kirnal
Brown, Darron
Burreeys, Ashley
Burrows, Gian
Buller, Mula
Cartunght, Dylan

Cartwright, John
Cartwright, Miguel
Cates, Rachel
Chante , Chante
Charles, Jewel
Charlton, D'Mitry
Charlion, Rodemha
Coleby, Rosshanique
Culmer, Shanette
Culmer, Alithea
Dames, Raynell
Davis, Azann

Davis, Thavwon
Dean, Julian

Dean, Ostonyah
Delancy, Terah
Delaney, Dante
Deveaux, Dominique
Deveaux, Daruelle
Devenux, Dominique
Duneanson, Jozh
Buenne, Carleen
Bbhenne, Jove

Evans, Sher!
Ferguson, Shelleta
Perouson, Dawn
Fleurentin, Annekathy
Fraser, Ashten
George, Christine
Gibson, Hilniqua
Gibson, Brianne
Godet, Stomen
Gomer, Glendia
Govinduraju, Arvind
Gmham, Fay =Sasha

Grant, Juliann
Gulati, Akash
Hanna, Jazmine
Hanna, Garvin
Hanna Jr., Peter
Hegde, Stuthi
Hinds, Arcel
Jaoob, Abhishek
Jones, Aisha
Relly, Adnanne
Relly, Jordanna
Kemp, Jager
Renny, Treasure
Enowles, Jenera
Knowles, Anissa
Roowles, Raquel
Knowles, Raven
Rodi, Neha
Lightbourne, avian
Lopez, Dulce
Low, Dylan
Lowe, J° Qusanne
Lowe, Aly ssa
Lowe, Amel
Lundy, Onisa
Lyons, Christa
Mackey, Amy
Major, Gavin
Martiniorcugh, Alex
MMasekenuba, Joshua
Moyeock, Pedro k
McKenzic, Inga
McPhee, Relsey
McQueen, Jade
Miller, Grenee

Listing of Awardees

Miller, Kadijah

Mingo, Britanny
Mirpur, Suraj

Montez Smith, Charles
Moore, Koy arc

Moss, Anmanda

Moss, Niaya

Moxey, Rajahl

Moxey, Jenchovia
Munillo-Vasquer , Melanie
Neely, Uhedro
Nottage, Olivia
Nottage, Shards

Gene, Felanda
Phillpet, Alexandra
Pinder, Samann
Pinder, Da"Nae

Pinder, Bernique
Powell, “ahra

Pratt, Arittamey

Pratt, Camille
Prophete, Tonika
Redgrave, Paul

Butch, Brittany Olive
McPhos, Raqueisha
Rulehie, Kyra

Roberts, Cheyanne Jasmine
Robinson, Tamara
Rolle, Aliyah

Rolle, Ricquell

Rolle, Rirgquenique
Rolle, Cardia

Sands, Danielle

Sands, Paige, Courtmey
Saunders, Myron

Persons attending are expected to be =o by G:45 i

i

. a
ae

Rose, Charles A.
Russell, Briconna
Saunders, Chante
Sounders, Trevine
Seymour, Lindy
Smith, Alicia
Smith, Jarrell
Smith, Jarrell

Stow, Ashanti
Strachan, Rebeoca
Strachan, Janes
Stubbs, Paytan
Suca, Waber

Swan, Taneshia
Sweeling, Winston
Taylor, Tenrannise
Telusnord, Bobby
Thomas, Earl
Thompson, Hanna
Todd, Jerel Anthony
Toote, Brendan
Toote, Selandia
‘Toote, Celisan
Turenne, Vanessa
Villalobos, Juan
Vineent, Lheimts
Walker, Matthew
Wallace-Whitfiel, Angelika
Wells, Salathiel
Wert, Karen
Williams, Kenteeshe
Williams, Chelsea
Wright, Camille Anna-Kaye

— =

ait rere will be open for viewing by schools and the public Fal) iy) ee

2011 after the ceremony and Friday 21st January,

from 1: nm + des)

00 p.m. on Thursday, z
2011 during the hours of 9 00 a.m. to 4:00 p.m
STUDENTS MUST BE CHAPERONED BY THEIR TEACHERS!



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



PAGE 8B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Airbus says it tops Boeing
CSP

(AP Photo/Manuel Blondeau)

day, Jan. 17, 2011.
GREG KELLER,

AP Business Writer
TOULOUSE, France
expected from the steepest drop in its history.

aircraft last year, and predicted even more deliveries this year.

and stop making new ones.

and delivered 462 aircraft.

money by being more fuel efficient.

be higher than that.

mistic on 2011 than I was for 2010," Enders said in a statement.

were "a small negative on the horizon" for Airbus.

He called Airbus’ planned A320neo "the solution,” saying the : Pa
upgraded version of the workhorse single-aisle A320 is planned to } Patan ane ta
launch in 2016, offering 15 percent better fuel efficiency than the } wai ated he dace ance

Airbus delivered 18 of its A380 superjumbo last year. It expects } power and more tunds a as
te deliver ek 30 and 25 thi bef : act disposal to deal with any emer-
o deliver between 20 an is year before ramping up produc- i gency that may arise. Such new
? powers could include the right
? to buy government bonds on

: the open market to support

current model.

tion to three per month in 2012.
Last year Airbus took in 32 new orders for the A380.

NOTICE

NOTICE is hereby given that HAROLD EUGENE

HUGHES, JR. of #9, Fortune Point Drive, Fortune Bay
Subdivision, Freeport, Grand Bahama, BAHAMAS, is
applying to the Minister responsible for Nationality and

Citizenship, for registration/naturalization as a_ citizen
of The Bahamas, and that any person who knows any
reason why registration/naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 11' day of
January, 2011 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.





of debt c

: GABRIELE
: STEINHAUSER,
: AP Business Writers

PAN PYLAS,

AP Business Writers

BRUSSELS

(AP) — The finance minis-

i ters of the 17 countries that use
? the euro are pressing ahead
: with an overhaul of their finan-
? cial firefighting tools, but said a
} deal will require more debate

NEW ORDERS: Airbus CEO Tom Enders listens during the Airbus :
Annual Press Conference, in Toulouse, southwestern France, Mon- :

over the coming weeks.
Following their first meeting

? of the year in Brussels on Mon-
? day, the currency union's top
: financial policymakers said they
: discussed "all the ingredients"
? of a comprehensive package to

Airbus said Monday it took in 574 net new aircraft orders last ee
year, beating rival Boeing Co. for the third year running as the } forced! (eee ane ro 4%
international aviation market rebounded more strongly than } implement painful budget cuts

The Toulouse-based plane-making consortium said 2010 orders ee eee On
were worth $74 billion at list prices, that it delivered a record 510 } :

"All the ingredients of the

A year earlier, Airbus took in just 271 net orders as the global sole is fe ee
: ais Soe : on table," said Jean Claude
economic slowdown led airlines to cancel or delay existing orders } yy poker

: : : . : ? eurogroup. "The discussion was
Boeing this month reported that it took in 530 net orders in 2010 : bro - s A sill be narowedan

Airbus’ 2010 order book was boosted by a late-December order i the next couple of weeks.

by Richard Branson's Virgin America for 60 A320 single-aisle } eceeios den anil tbeht be
aircraft. Airbus said half of the order is for its new version of the } ‘ Dy of ce
aircraft, the A320neo, which is being designed to save carriers euro750 billion ($1 trillion)

Airbus CEO Tom Enders said the European jet builder will Me nee ae bee ee
deliver between 520 and 530 aircraft this year, and said orders will } a orl hon e font ae

"We've made tremendous progress, it makes me more opti i Greece to soothe financial mar-
Leaps ree P'- | kets anxious over some coun-

Airlines that cut back during the downturn are now scrambling : ee
to add jets to handle rising traffic as the international economy : _./ y :

Se . : : ? with Ireland following Greece
rebounds. Soaring jet fuel prices are also forcing carriers to look for } ‘a the badloutelus und fasunt
newer, more efficient planes to replace gas-guzzling older models. + fears that the debt crisis
Speaking to reporters ahead of the company's press confer- } ee le stead tec Peuaeal endl
ence Monday, Airbus top salesman John Leahy said fuel prices } Spain P 8

who heads the

The centerpiece of any

Both the European Union's

their prices and keep vulnera-
ble countries’ funding costs in
check.

"We shall improve our cur-
rent existing financial backstops
so that the so-called market
forces cannot even have the
slightest doubt about our capac-
ity to act even in the most
stressed scenarios," said the
EU's Monetary Affairs Com-
missioner Olli Rehn.

Germany, the eurozone's
effective paymaster, has so far
ruled out any substantial



rs

CRISIS TALKS: French Fin

ance Mi



nister Christine Lagarde, left, speaks with Spanish Finance Minis-

Europe debates overhaul
risis response

AP Photo/Virginia Mayo

7

ter Elena Salgado during a meeting of eurogroup finance ministers at the EU Council building in Brus-
sels, Monday, Jan. 17, 2011. Finance ministers of the 17 euro countries are locking horns Monday over
how to fight their crippling debt crisis amid evidence that the European Central Bank has so far been
taking on the burden of calming jittery bond markets.



INTERNATIONAL
BUSINESS

increase of the fund's size. But
German Finance Minister
Wolfgang Schaeuble indicated
that his country would be pre-
pared to bolster the eurozone's
contribution to the fund so it
can actually lend out the full
headline amount.

Eurozone governments make
their euro440 billion contribu-
tion to the region's bailout fund
by guaranteeing bonds issued
by the so-called European
Financial Stability Facility. The
remaining euro310 billion come
from the European Commis-
sion and the International Mon-
etary Fund.

However, to get a triple-A
credit rating for the EFSF's
bonds — and make them
attractive to investors — gov-

ernments had to guarantee 120
percent of their value, while
bailed out countries have to
deposit a certain portion of the
loans they receive “as a cash
buffer."

That takes the EFSF's lend-
ing capacity down to only about
euro250 billion, which most
analysts say is insufficient to
deal with a bailout of Spain, if it
ever arises. Spain's economy
makes up about 10 percent of
the eurozone economy, more
than Greece, Ireland and Por-
tugal combined.

But discussions Monday
went beyond boosting the
fund's size, with the Commis-
sion pressing to give it powers
that would allow it to do more
than provide emergency loans
for countries.

Rehn and Juncker declined
to elaborate of the details of
ministers’ discussions, but
Juncker said ministers had also
debated potentially lowering
the interest rates charged in the
Irish and Greek bailouts — a
move that would make it easier
for the two countries to repay
their emergency aid even as
their economies are shrinking.

"We were discussing in gen-
eral terms the question of low-
ering the interest rates we
charge for countries, but we did
not discuss this point in suffi-
cient detail to give you the like-
ly outcome,” Juncker cau-
tioned.

Giving the bailout fund the
power to buy government
bonds would reduce the load
on the ECB, which has recent-
ly stepped up its role in the debt
crisis by buying the bonds of
the more imperiled European
countries. Not all the bank's
governing council are con-
vinced that it should be buying
bonds at all so they would wel-
come handing off all, or a large
chunk, of that duty.

Figures on Monday con-
firmed speculation that the
ECB ramped up its bond buy-
ing last week, a clear indication
it tried to help Portugal in the
run-up to a crucial bond auc-
tion.

Data from the ECB showed
the central bank spent
euro2.313 billion ($3.1 billion)
buying government bonds in
the markets, up sharply from
the previous week's eurol13
million.

That took the total since the
bond-buying program began in
May to euro76.5 billion. Last
week's total was the highest
since the week to Dec. 10, when
it spent around euro2.7 billion
to shore up confidence follow-
ing the bailout of Ireland.

Despite the lack of decisions
on the bailout fund, the finance
ministers did agree on one
thing: In 2012, they will issue a
special 2-euro coin to celebrate
the 10 years that the euro has
been in European wallets.

BP shares rise on Arctic
deal despite complaints

ROBERT BARR,
Associated Press
LONDON

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, VANDA JODY G.
RAHMING of Bellot Road, New Providence, Bahmas
intend to change my daughter’s name from ARIEL
VANIQUE RAHMING. to ARIEL VANIQUE FERRETTE. If
there are any objections to this change of name by
Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box N-742, Nassau, Bahamas no
later than thirty (80) days after the date of publication of
this notice.

NOTICE

NOTICEis hereby giventhat STEPHEN MALCOLMBAILEY
MD of P.O. Box EL27585, Spanish Wells, Eleuthera
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 11" day of
January, 2011 to the Minister responsible for nationality
and Citizenship, PO. Box N-7147, Nassau, Bahamas.

= EG CAPITAL MARKETS
cE EJ BROKERAGE & ADVISORY SERVICES

fre avi.c3 wd

Shares in oil major BP rose Monday as the market welcomed
its deal with Russia's Rosneft to explore the Arctic seabed.
though key partners complained about being left out and U.S.
politicians warned about national security risks.

While the deal hedges BP's production options as it faces
new restrictions in the United States following the disastrous
Gulf of Mexico well blowout, analysts noted it is unlikely to yield
results for years.

Still, BP shares shot up 2.4 percent as the London Exchange
opened on Monday before retreating to stand 1.5 percent high-
er at 507 pence ($8.06) in late morning trading. BP shares,
which traded at about 655 pence before the Gulf of Mexico
disaster, climbed back above 500 pence only last week.

The stock was also helped Monday by news that BP had won
exploration rights in the Ceduna Sub Basin off the south coast
of Australia.

The Russian deal gives Rosneft a 5 percent stake in BP.
which in turn takes 9.5 of Rosneft shares. Rosneft shares were
up 4 percent on the MICEX exchange in Moscow.

Analysts in London say the move is a bold on by BP, but it will
have to wait years for a payoff assuming that significant oil
reserves are found.

"The deal looks like a typically bold BP move accessing a new
region considered highly prospective," Evolution Securities
said in a research note. However, "this is an exploration oppor-
tunity so while it may be a good medium- to long-term strategic
investment, delivery is years away."

While the resources in the Arctic are potentially huge, analysts
at Collins Stewart said BP's profit margin would be squeezed by
the high costs of operating in the South Kara Sea and other Arc-
tic waters.

"While any production arising from the new agreement is
still likely to be many years away, BP's commitment of signifi-
cant additional capital to Russia is likely to be seen as a mater-
ial negative shift in its risk exposure by many observers," Collins
Stewart said.

Alfa-Access-Renova, BP's partners in the joint venture TNK-
BP, protested that they were supposed to be the exclusive gate-
way for any BP deals in Russia, according to the Financial
Times.

"All new business opportunities in Russia and Ukraine must
be pursued through TNK-BP," AAR's Chief Executive Stan
Polets was quoted as saying.

TNK-BP now provides about a quarter of BP's production, but
a lower proportion of income, Collins Stewart said.

Jonathan Jackson, head of equities at Killik & Co. in London,
said the Rosneft deal is likely to hit opposition in the United
States, which is seeking a moratorium on Arctic exploration.

ROYAL SFIDELITY

Moray al Work

Co FAL “a T.

BISX LISTED & TRADED SECURITIES AS OF:
MONDAY, 17 JANUARY 2011
BISX ALL SHARE INDEX: CLOSE 1,480.07 | CHG 0.00 | %CHG 0.00 | YTD -19.44 | YTD % -1.30
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
S2wk-Low Change Daily Vol. EPS $ Div $
0.97 0.00, 0.150
9.67 0.00 0.013
4.50 0.00 0.153
0.18 0.00 -0.877
2.70 0.00 0.168
2.14 0,00 0.016
9.62 0.00 1.050
2.36 Colina Holdings 2.40 2.40 0.00 0.781
5.40 Commonwealth Bank (S1) 6.85 6.85 0.00 0.422
1.63 Consolidated Water BDRs 2.10 2.10 0.00 0.111
1.60 Doctor's Hospital 1.60 1.60 0.00 0.107
5.94 Famguard 6.07 6.07 0,00 0.357 17.0
7.23 Finco 6.51 6.51 0.00 0.287 22.7
S.7F FirstCaribbean Bank 9.39 9.39 0.00, 0.645 14.6
3.75 Focol (S) 5.47 5.47 0.00
1.00. Focol Class B Preference 1.00 1.00 0.00
5.00 ICD Utilities 7.40 7.40 0.00
9.82 J. S. Johnson 9.82 9,82 0.00,
10.00 Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Security Symbol Last Sale Change Daily Vol. Interest
Bahamas Note 6.95 (2029) BAH29 99.46 0.00 6.95%
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00 7%
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
Symbol Bid & Ask Last Prime Daily Wal.
Bahamas Supermarkets 5.01 6.01 14.00
RND Holdings 0.35 0.40 0.55

Securit_y Previous Close Today's Close
AML Foods Limited 1.01 1.01
Bahamas Property Fund 10.63 10.63
Bank of Bahamas 4.90 4.90
Benchmark 0.18 0.18
Bahamas Waste 2.70 2.70
Fidelity Bank 2.17 217
Cable Bahamas 10.21 10.21

0.366 14.9
0.000 N/M
0.012 616.7
0.859 11.4
0.991 10.1
S2wk-Hi S2wk-Low Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015

EPS $
-2.945
0.001

Div & P/E
0.000
0.000

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

ABDAB
RND Holdings

30.13 31.59

0.45 0.55
BISX Listed Mutual Funds

NAW YTD%

1.5179 5.51%
2.9474 2.10%
1.5740 4.44%
2.7202 12.72%
13.2825 -0.63%
114.3684 9.98%
106.5528 4.75%
1.1415 4.74%
TAA 3.94%
1.1428 4.78%

29.00
0.55

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.918697
1.555464

NAV GMTH
1.475244
2.919946
1.538692

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund

Last 12 Months %
6.90%
2.09%
4.44%
4.63%
-0.14%
12.49%
7.18%
5.21%
7.60%
5.90%

1.4076
2.8300
1.4954
2.8522
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3
Royal Fidelity Int'l Fund - Equities Sub Fund

31-Dec-10
31-Dec-10
31-Dec-10
30-Nov-10
30-Jun-10
30-Sep-10
30-Nov-10
30-Nov-10
30-Nov-10

109.392860
100.779540

107.570619
105.776543

1.0000
1.0000
9.1005
9.7950 4.85% 5.45% 30-Nov-10
10.0000,
10.6417 -1.20% 0.50% 30-Nov-10
9.1708
9.6635 -3.37%
8.3979 8.82%
MARKET TERMS

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

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

NAV - Net Asset Value

N/M - Not Meaningful

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

-3.37%
8.82%

30-Nov-10
4.8105 31-Dec-10
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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 9B





B

The Tribune

This is part of the ongoing
telemedicne programme which was
introduced to improve the quality of
care and decrease the fatality of trau-
ma patients.

Health officials say the telemedi-
cine program will have a significant
impact on the local health care system
as it allows doctors to discuss cases
and exchange ideas via, satellite tech-
nology.

Minister of Health, Dr Hubert
Minnis, who was present at the the
press conference, said that the tele
conference is an opportunity for doc-
tors, surgeons as well as EMS per-
sonnel to keep up to date with tech-
nological advances in medicine.

"This is an educational teleconfer-
encing. We are interconnected with at
lest ten other institutions worldwide,
from Brazil straight up Canada,” he
said.

Working Together

Last week Jackson Memorial Hos-
pital presented a case and. the other
hospitals will follow in the rotations.

"The whole idea is a part of ongo-
ing education so that our emergency
room and our surgeons can remain
on the cutting edge of education as
well as technology so that when we
have a difficult case we can present
that to the world and be critiqued.
This is part of our ongoing education
and tele medicine program to ensure
quality health care," Dr Minnis
explained.

If doctors locally run into a case
that they have never seen before, the
care can be presented and addressed
during the teleconference.

"From time to time we have diffi-
cult cases. And Jackson Memorial
Hospital has presented some cases. If
that’s a difficult case then we would
learn from that. We will present also
and therefore we will be critiqued by
the world which means that if you

z a
qi] Tt
a lit Ait
ey

are presenting to the entire world
you must be well versed. So we are
learning new procedures and new
processes will occur regularly. We
want to continue an ongoing learning
process which is-excellent for the
Bahamas and that is part of our moy-
ing forward and strategic planning,”
he explained.

Dr Colin Bullard, who serves as
the coordinator said when cases are
presented :" We will be asked to com-
ment on how we have been managing
such a case in the Bahamas and oth-
er countries likewise. We ask simple
questions and we hear what other
people in the region are doing. And
all of this is in the effort to improve
the quality of our patient care par-
ticularly as it pertains to trauma
patients.”

Dr Bullard also said that the
telemedicine program will have more
impact on trauma patients.

"As you know we are being over-
whelmed with the amount of trauma
patients coming to the accident emer-
gency department of the Princess
Magaret Hospital. This is going to
help us improve the care to the those
patients and as we move forward,
using this telemedicine technology,
using this international collaboration,
its going to ensure that we do this as
cost effectively as possible. We want
to try and get to the stage where the
accident emergency department is a
level one trauma centre at the same
level as a wider trauma centre in Mia-
mi,” he said.

"Its going to improve the quality of
patient care while trying to decrease
the morbidity and the mortality to
trauma paitents and help everybody
invovled in the management of trau-
ma patients to be aware that trauma
is a mutlidisciplinary specialty and
we have involved everybody from
the EMS personnel to the doctors in
the emergency room to the operating,
to ICU to rehabilitation."






By JEFFARAH GIBSON «¢ Tribune Features Writer

S part of the country’s efforts to stay on the
cutting edge of health care and medical
echnology, the Ministry of Health in con-
junction with Princess Magaret Hosptial, held an
educational teleconference last week Friday.



PRINCESS NPS CCr oe HOSPITAL

West

my LU

Children with a heart,

helping children’s heart

YOU don't have to be a doctor to
save lives. You can simply be an indi-
vidual with a heart, regardless of age,
gender, race or socio-economic back-
ground who wants to bring hope,
health and happiness to others
impacted by heart diseases, particu-
larly children.

Recently, two young Bahamians,
who are philanthropists at heart,
decided to follow the pattern set by
Lady Sassoon and help to repair the
hearts of children. Channing and
Sean-Ryan Thomas, 6th and 8th
grade students respectively, made the
decision to donate the profits earned
from their gumball machines, located
in their father's office, over the past
year to help a child receive heart care.

These young entrepreneurs are the
children of Dr Carlos and Loretta
Thomas. Their decision came after
they watched an ad about Joe
DiMaggio Children's Hospital in
Florida and noted the persons who
come into their father's office needing
financial support for medical care.
Also, the children read their parents’
invitation to the heart ball and decid-
ed that this was where they wanted to
donate money. They wanted to help

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

children who need heart surgeries
locally in The Bahamas. Channing
came up with the idea on how to raise
the funds. They were very excited
about donating.

Channing hopes to one day
become a pediatrician or a veteri-
narian. Sean-Ryan says, “I'd like to
follow in my dad's footstep and
become a pediatrician and a neona-
tologist. I can't think of a better way
of starting to help children than
donating to children needing heart
surgeries.”

Loretta Thomas described her
children’s decision as independent
and inspiring.

“T think we ought to encourage our
children. Children learn from their
environment. Children learn from us.
They mimic us. They emulate us. As
parents, my husband and I try to pro-
vide the best nurturing, loving and
teaching environment for our chil-
dren. No matter how small or
insignificant we may think the
amount is, we should always encour-
age our children to be grateful
receivers and heartfelt givers - giv-
ing from the heart. One can give
financially: every penny counts, every

dollar counts. Or one can give of
one's time or talent”.

Under the theme “Saving little
hearts for 50 years, one beat at time”,
the Heart Ball Committee will host
the 47th Annual Heart Ball, Satur-
day, February 19, at Sheraton Nassau
Beach Resort. This particular ball
marks a significant milestone in the
life of The Sir Victor Sassoon
Bahamas Heart Foundation. The
Foundation will celebrate its 50th
year of existence. The Annual Heart
Ball is the major fund raiser that helps
to meet the demands of The Heart
Foundation. There will be live toe-
tapping performances by The Ed
Brice Orchestra, The S-G Band
(Soulful Groovers) and the Royal
Bahamas Defence Force Dinner
Band.

There will be fabulous table prizes,
raffle prizes and auction items, with
an exclusive collection from John
Bull. Tickets for regular seating are
$250 per person. Premium seating
and other accommodations are also
available. Additionally, the public is
invited to sponsor booklet ads, and
make donations. Being a non-profit,
all volunteer organisation, The Heart



CARING HEARTS: Channing and Sean Ryan Thomas present their cheques to RE
Barnes, the chairman of the The Sir Victor Sassoon Bahamas Heart Foundation.

Foundation relies heavily on the gen-
erosity of others to meet their goals.
Over 97 cents, of every dollar raised,
goes directly to the aid of the chil-

dren. For information on ticket pur-
chases or donations please contact
the Heart Foundation at telephone
number 327-0806.





PASE 100

TUE SOAY JANUARY 10. 2011

THE TREIUNE





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In this Friday, Jam 14, 2011 pose, Dr. Marty Tenenbaum, a survivor
of the skin cancer melanoma, shows off his free app an his iPad in his
Palo Alto, Calil., office. Tenenbeam, 67, is launebing a free apo with
Cancer Commons, & set of online tools Dkat Delp peoleasionals atucty
the disease and belp wrth better treatments, can

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNT242.COM

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THE TRIBUNE



TUESDAY, JANUARY 18, 2011












BEJEWELED: This
necklace is one of
Allison’s personal
favourites. It will take
any outfit to the highest
level of fabulousity. It's
definitely an eye catch-
ing piece.

A “A spotlight on the talented
— women in our community

By ALESHA CADET
Tribune Features Reporter

llison Catherine Rolle has
At a lot on her plate

these days. In addition to
being an aspiring physican, the
25- year-old is a entrepreneur
who along with her sister
recently opened up a popular
accessories store which has
become quite popular on Face-

book.

Allison is studying at the Saint Mary's
University in Canada. She explains that it
becomes a task managing school and her
business. " I am basically handling it by
myself and it is a bit much, because it is
hard trying to find someone to work in the
store, so what I do is work by appointments
until we get the chance to find someone. I
took a semester off so I am stationary for a
while.”

With support from her family, friends
and those of like mind, the college student
made it her duty to push until she finally
opened her brand new store Essence of J
Shoes & Accessories Loft, which now offers
new fashion accessories right here in the
Bahamas.

"My sister is in partnership with me and
I have always wanted and desired to get
into opening my very own business for
about five or six years now, it was just a
matter of time," said Allison in an interview
with Tribune Woman.

She continued: “We are fairly new, start-
ed in November of 2010 carrying earrings,
rings, necklaces, that sort of stuff. We start-
ed off with just those things but we will be
working and pushing towards offering shoes
and bags in the future.”

She hopes that Essence of J can be a suc-
cessful adventure, and is counting on the
support from her fan page and customers to
make sure that they maintain business.

"The store is a family oriented business,
the letter J came from a sister of mine that





passed away, she was also into fashion so
the business is in memory of her. It was
only right that she would be the face of
Essence," she explained.

Essence of J customer, Alex Missick
told Tribune Woman that she views the
store as really “trendy and sophisticated.”
She goes on to say that , “the store screams
fabulosity from the decor to the actual jew-
elry she has to offer and it appears as
though she takes real pride in what she
does. I was surprised to see such a young
person want to reach a different kind of
woman, amore mature market of Bahami-
an woman.”

Giving her very own accessory and fash-
ion tips, Allison said: "A personal tip I like
to share with people is you do not have to
match everything, fashion is not about
matching, it is about blending and finding
colours that compliment your very own
style.

“My pieces are very unique in terms of
being very out there. I get a lot of clients
saying they haven't seen this stuff before.”

She also offered advice to young women
wanting to start a business such as hers.
She encourages them to stay persistent.
"There are going to be people that want
you to fail but be persistent and keep at it,
that is when you become successful," she
said.

When asked how long she plans to keep
up with Essence of J, Allison said: “This is
definitely a long term investment, there
are also a lot of other things I want to do
that have not been introduced to the mar-
ket yet, and I want to get into that. The
business has been progressing, we took it to
Facebook and that is working out for now.

“My family, significant other and close
friends have all been very supportive of it
and this has been a growing experience
for me, I have learned a lot these past
months.”

¢ Know another talented young lady making a
postive impact in the community ? Send us
an email at features@tribunemedia.net to
have her featured in our next You Go Girl!



Risk-takers fuel fun fashion on Globes carpet

By FASHION WRITER
Associated Press

FASHION risk-takers helped the
red carpet at Sunday's Golden
Globes live up to its reputation as
the liveliest of the awards season,
with Helena Bonham Carter lead-
ing the way in mismatched — one
red, one green — shoes.

She topped her multicolored,
printed cocktail frock with a wacky
hairdo woven with black netting.

It can't be described as a do or a
don't: It's just pure Bonham Carter.

Olivia Wilde cleared her own path
in an oversized chocolate-brown ball
gown by Marchesa with beading that
mimicked a starry night. "I'm a wide
load — give me 20 feet,” Wilde
joked.

"T like wearing big dresses, it's fun.
We go to so many parties in this
town, the Globes are something to
play with in terms of fashion,” she

added.

Still, there was room at the Bev-
erly Hilton Hotel in Beverly Hills,
Calif., for waves of gowns in green,
red, blue, black and blush tones.

"T don't see an overall trend. It’s
not all about strapless or one look —
the way it's been so clearly in the
past. You always hope to see indi-
viduality and you got it,” said Cindy
Weber Cleary, InStyle fashion direc-
tor.

She also noted there were more
covered-up looks, save January
Jones’ strategically cutout top, anda
rainbow of colors.

Angelina Jolie wore a long-sleeve,
green gown with subtle shimmer that
matched the old-school style of Brad
Pitt, looking very much the classic
movie star in traditional bow tie.

Meanwhile, Michael Douglas
escorted Catherine Zeta-Jones in a
green, textured-organza Monique

Lhuillier with a textured skirt. As
presenters, young Justin Beiber, in a
three-piece Dolce & Gabbana tux,
and Hailee Steinfeld in a Prabal
Gurung ivory racerback gown, with
a rubberized finish, were a glimpse at
the future, though.

"Glee" stars seemed like they
were everywhere on the carpet: Lea
Michele in a salmon pink Oscar de la
Renta, Chris Colfer in Dior Homme,
Dianna Agron in a delicate, subtly
shiny J. Mendel with a heavy chain
necklace by Cathy Waterman, and a
Giorgio Armani-clad Cory Montei-
th and his silver bow tie.

"T really was struck by the fact
that so many men were in real bow
ties," said Weber Cleary. "They have
not been ‘the thing’ for a couple of
years."

Elisabeth Moss, in custom Don-
na Karan, and Mila Kunis also did
green justice, and Amy Adams went

with a teal, laser-cut gown by March-
esa. Blue was electric on Michelle
Pfieffer, wearing a simple, sexy
Roland Mouret, and Tina Fey chan-
neled another era in a navy velvet
L'Wren Scott.

Several red looks commanded
attention, especially Sofia Vergara's
back lace-up corset by Vera Wang,
Christina Hendricks’ one-shoulder
Romona Keveza with an oversized
ruffled strap (to match her oversized
20-carat Chopard diamond earrings),
and Jones’ Versace. Jones actually
requested this dress — originally on
the Versace runway in blue — to be
made in the bright lipstick hue.

Black wasn't boring on Halle
Berry, who wore a lingerie-style,
minimalist mini by Nina Ricci. Sure-
ly the five stacked Harry Winston
diamonds cuff bracelets weighed
more than the barely there dress.

SEE page 11



L eae
ACTRESS Lea Michele arrives at the

Golden Globe Awards Sunday, Jan.
16, 2011, in Beverly Hills, Calif. (AP)

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‘SUNNY



A Ca i

SUT

sa

Police
Solvin

Commissioner speaks out
after weekend killings

WITH four mur- p
ders occurring over
the weekend, Com-
missioner of Police
Ellison Greenslade
assured the public
yesterday that the
police are doing all
they can to find the
killers.

Meanwhile, late
last night police
released the identity
of recent murder vic-



relationships; persons
involved in the drug
| culture, revenge, and
other contributing
vices are major fac-
| tors.

“Therefore, at the
§ beginning of this year
I wish to renew my
call to all of our peo-
ple to come together
and help stem the tide
of lawlessness, which,
if not checked, has

tims. CONFIDENT: the potential to
Calling a snap Commissioner engulf segments of
press conference at Greenslade our communities and

the Paul Farquharson
Conference Centre, Commis-
sioner Greenslade said that
his team of officers have suc-
cessfully cleared up several
matters for the year thus far
and are confident that they
will bring a successful conclu-
sion to the remaining homi-
cides, “including many of
those that occurred toward
the end of 2010.”

“Allow me to also say once
again that while we are always
saddened by the tragic death
of our people the compelling
evidence in many of these
matters that we see is that
they are occurring among per-
sons involved in various
lifestyles, including intimate

further erode the
peace and safety of our coun-
try,” he said.

The men killed in Sunday’s
double homicide in the
Kennedy Sub-division area
were identified as Kevin Rus-
sell, 34, and Eamonn Hep-
burn, 21.

Mr Russell, of Deliverance
Way off Malcolm Road, was
gunned down at Gilda Street
and Mr Hepburn, of Baillou
Hill Road, was killed at
Gilbert Street.

Police identified the man
shot down at a Nassau bar on
Friday as Terrence Williams,
36, of Flint Street. Mr

SEE page 10

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TUESDAY, JANUARY 18, 2011

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ai
re)

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Time

eric

fen ol
murders





Tim Clarke/Tribune staff

Â¥

CHARGED: 24-year-old Dino Price at court yesterday.



A THIRD person has been charged with the
attempted murder of a Canadian tourist.

Police have now charged Dino Price, 24, of Arm-
brister Street in Fox Hill, for attempting to murder
Mitch Nimi.

Nimi was reportedly stabbed several times in the
chest, back and abdomen early on Christmas morn-
ing.

Patrickedo Rose, 20, of Pine Barren Road and a
17-year-old boy of Springfield Road have already
been charged with attempting to kill Nimi.

Price, who was arraigned before Chief Magis-
trate Roger Gomez in Court One yesterday, is also
accused of robbing Mintez Armbrister of a gold
chain, valued at $1,000.

The case was adjourned to January 25 and trans-
ferred to Court 5, Bank Lane.

Price has been remanded to Her Majesty’s
Prison.















eT aU Sal US




SEE SECTION E



US RELAXATION
OF CUBAN TRAVEL
‘WON'T AFFECT
BAHAMAS IN THE
SHORT TERM’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE United States have
officially relaxed their travel
restrictions into Cuba, and
while this will not affect the
Bahamas’ tourism industry in
the short-term they are
preparing for competition
from the eventual opening up
of its regional neighbour,
Tourism Minister Vincent
Vanderpool-Wallace said.

His comments came after
US President Barack Obama
announced looser travel
restrictions to the Communist
Caribbean nation.

The new travel rules will
allow American religious

SEE page 10

MALE STUDENT
GIVES EMOTIONAL
TESTIMONY IN
TEACHER SEX CASE

By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - The trial
of Andre Birbal opened on
Monday in the Supreme
Court with emotional testi-
mony from one of the two
male students who broke
down in tears as he
described the painful sexual
ordeal he endured for some
eight years at the hands of
his art teacher.

Godfrey McMasters said
Birbal had sexual inter-
course with him in his art
classroom at the Eight Mile
Rock High School, at his
apartment, and in his car in
remote locations.

He said the alleged sexual

SEE page 10

Residents braced
for ‘severe weather’

GRAND BAHAMA and
Abaco residents braced them-
selves for heavy rains as weath-
er officials posted a severe
thunderstorm warning yester-
day.

The Department of Meteo-
rology sounded the alarm for
the two northeastern islands
shortly before 4pm, due to a
cluster of thunderstorms and
showers over southeast Florida
which were moving towards

the area.

Thunderstorm cells were
said to have covered Grand
Bahama, and residents report
the entire island had been
affected by torrential rain since
lpm.

In Abaco, affected areas
were said to be mostly north
and central Abaco.

Initially, the storm system

SEE page 10

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NASSAU AND BAHAMA

ISEANDS* LEADING NEWSPAPER





PAGE 2, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



LOCAL NEWS



325,120 contract signed

for d

GOVERNMENT has signed a
$325,120 contract for the refur-
bishment of Exuma’s George
Town dock.

Addressing a contract signing
ceremony in Exuma on the week-
end, Minister of State for the Envi-
ronment Phenton Neymour
praised the Ministries of Works
and Environment for putting
together the challenging project.

Mr Neymour said the project’s
existing risks were not recognised
by many.

“In putting together the project
scope the Ministry of Works and
the Ministry of the Environment
have done their best to address
those existing items. For example,
we are going to put in place five
60-tonne bollards that are essential
for the docking of large vessels so
that the vessels can come directly
next to the dock.

“We will also be including the
dredging of silt away from the
dock that has diminished the avail-
able draft of the vessels for the
docking of this facility,” he said.

Additionally, a wall will be con-
structed that has the ability to with-
stand great forces that large vessels
can exert, which result in damage
to the existing facility, he said.

Mr Neymour was among a del-
egation, including Public Works
and Transport Minister Neko
Grant, who were in Exuma on the
weekend to sign a $325,120.30 con-
tract with Reg McKenzie of R & F
McKenzie Construction Co Ltd
for the refurbishment of the dock
in George Town.

a _

a

PHENTON NEYMOUR, Minister of State for the Environment,
Speaks to residents of Exuma during a contract signing ceremo-
ny for the George Town dock. Also pictured is the Public Works
and Transport Minister Neko Grant, (seated from left; front row)
Colin Higgs, permanent secretary, Anthony Moss, MP for Exu-
ma, and in the back row from left John Canton, director.

Minister Neymour said in 2007
he along with marine experts from
a fuel company travelled through-
out the Bahamas to perform a
marine risk assessment to review
the safety of delivering fuel to var-

ious communities.

“During that assessment a num-
ber of items were recognised that
were essential to improving the
existing docking facility in Exu-
ma,” he said.

ock refurbishment



Anglican Diocese
holds anniversary
thanksgiving service

THE Anglican Diocese
of the Bahamas and the

FOR 3 IN 1 LAWN SERVICE
igi a arate
Pest Control

Tropical Exterminators
brat]

Turks and Caicos Islands
yesterday held a special
thanksgiving service as part
of its 150th anniversary cel-
ebrations.

Preaching at yesterday
evening’s service held at
Christ Church Cathedral
was Rev Alfred C Reid,
Bishop of Jamaica and the

The presence of the
Anglican Church in the
Bahamas can be traced
from the early beginnings
of Bahamian history.

After 1647, the Eleuther-
an Adventurers made the
first settlement of the Eng-
lish after the islands had
been more or less aban-

who had eliminated the ear-
ly Lucayan population.
It is said that the

Mr Neymour said he is happy
that a native of Exuma has been
awarded the contract because it is
critical to continue to develop the
skill base of Exumian contractors.

“We have the ability to perform

church.

included two Anglican
priests who had left the

great works here but we need the
opportunity to do so,” said Mr
Neymour. “We all recognise that
there is a greater need in Exuma to
expand our docking facilities and
improve our existing ports.”








REV ALFRED C REID,
Bishop of Jamaica and the
Cayman Islands, was wel-
comed at the VIP Lounge
of the Lynden Pindling
International Airport yes-





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Eleutheran Adventurers

BILLY'S DREAM
SUAS

At that time the church
in all British overseas (colo-
nial) territories came under
the Bishop of London.

In 1824, the Dioceses of
Barbados and Jamaica were
formed.

The territories of the
Bahamas and the Turks and
Caicos Islands came under
the Diocese of Jamaica.

In 1861, the Bahamas
and the Turks and Caicos
Islands became a separate
diocese called the Diocese
of Nassau.

Queen Victoria issued
Letters Patent establishing
the same on November 4,
1861.

Dr Charles Caulfield was
consecrated bishop on
November 30, 1861.

With the issuing of the
Letters, the Parish of Christ
Church was declared the
Cathedral and the “towne
of Nassau” was elevated to
the status of city.

In the British civil sys-
tem a “towne” could only
become a city if it had a
bishop and a Cathedral.

Since its creation as a
Diocese in 1861, the Dio-
cese Said it has intensified
its ministries of pastoral
care and education in con-
veying its mission in the
Bahamian islands.

From its earliest years,
the church has established
primary and secondary
schools. The latter ones
continued until the early
years of the 1930s.

On June 24, 1971,
Michael Hartley Eldon was
consecrated suffragan bish-
op with the title Bishop of
















terday afternoon by Rev-
erend Laish Zane Boyd,
Sr, Bishop of the Bahamas
and the Turks & Caicos
Island

Bishop Reid last night
preached at the thanks-
giving service at Christ
Church Cathedral for the
150th anniversary of the
Anglican Diocese of the
Bahamas and the Turks
and Caicos Islands.

New Providence.

Less than a year later on
April 20, 1972 the Dioce-
san Synod unanimously
elected him as 11th Bishop
of Nassau and the
Bahamas, including the
Turks and Caicos Islands
and the first Bahamian
Bishop of this Diocese.

Similarly, September 1,
1996 the Rev Drexel
Gomez, former Bishop of
Barbados, succeeded Bish-
op Eldon as Diocesan Bish-
op; Bishop Gomez had
been Bishop Co-adjutor of
the Diocese prior to his ele-
vation.

Bishop Laish Boyd was
elected Co-adjutor on June
29, 2006 and became Dioce-
san Bishop on February 8,
2009.

To date, the Diocese has
had 13 diocesan bishops.
There have been two Suf-
fragan Bishops; two other
Bahamians have been ele-
vated to the episcopacy: the
late Donald Knowles, Bish-
op of Antigua, and Rev
Cornel J Moss who cur-
rently serves as Bishop of
Guyana.

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





THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 3



LOCAL NEWS



Senior ranks |

shake-up ‘is

not impending

)

Police Commissioner scotches reports

By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

COMMISSIONER of Police Ellison
Greenslade denied reports yesterday of an
impending shake-up within the senior ranks
of the force.

Late last year, reports had been circulat-
ing that a number of top officers were set to
leave their posts for more lucrative jobs as
the heads of security at either the Lynden
Pindling International Airport or the luxu-
rious gated community, Albany.

Amongst those persons rumoured to be
leaving were Deputy Commissioner of
Police Marvin Dames, and three assistant
commissioners — John Ferguson, Willard
Cunningham and Glen Miller.

Addressing the matter at the Paul Far-
qharson Conference Centre at Police Head-
quarters yesterday with his senior command
present, Commissioner Greenslade said that
he and his team do not have the time or
luxury to be concerned about rumours.

“Let me assure you, just as you see us
assembled here this morning, we have a syn-
ergistic team despite what anybody else will
tell you. And if you would wish to test it, you
are free to do so. You may turn up at Police
Headquarters at any given day and do some
good investigative journalism.

“We fellowship often; we tell a lot of
jokes, but we work hard.

“As the Commissioner of Police of the
Royal Bahamas Police Force I do not have
any concerns today that I can express to
you with respect to any disaffection among
the members of this team. We are all broth-
ers, and that is the way it will remain,” he
said.

Deputy Commissioner Dames acts as
Deputy to the Commissioner of Police and
has specific responsibility over discipline,



= " _
POLICE COMMISSIONER Ellison Greenslade.





the force’s inspectorate, district co-ordina-

tion and a list of other areas.

Mr Dames was rumoured to be consid- }
ering a lucrative position at the Nassau Air- ;
port Development company as the new head ;

of the security unit there.

ACP Ferguson, the head of the National

Policing Support Services, was said to be :
: the 2010 corporate calendar

retiring at the end of January.

However, Mr Ferguson is not yet of retire-

ment age, as he will only be turning 56 on }

January 29, and has so far only served 37 } Phe Bahamas’ visual and per-

i forming arts scene, Colina
: wos », ? Insurance Limited releases its
ACP Miller is in charge of the Force’s | 5014 caicaiae ander iG

: : 4.7: theme The Art of Charity.
ACP Willard Cunningham has responsibil- : The calendar highlights the

years on the force; not the required 40.
Crime Management and Operations; and

ity for the management of the force’s Fam-
ily Island Districts.

CALENDAR HIGHLIGHTS CHARITY WORK

Sales of first edition
prints of artwork
featured in ‘The Art of
Charity’ raise $8,000
for worthy causes

After producing Genera-
tions of Bahamian Culture,

featuring familiar personali-
ties alongside new faces of

: work of 12 local charitable
: organisations who, through

Rights of workers being |

violated — TUC president

By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT -— Claiming
that the rights of the coun-
try’s workers are being vio-
lated, president of the Trade
Union Congress Obie Fer-
guson is calling on labour to
present a united front and
support the umbrella union.

“If you don’t have a union
in the Bahamas today, you
are on your own because it
is expensive for workers to
fight the accused.

“So my simple message is
that we need to unify, we
need to identify what we are
going to fight for, and we
need to support every union
in this country, whether
under the TUC, NCTU
(National Congress of Trade
Unions), whatever. When
we fight for issues those
labels must become sec-
ondary,” said Mr Ferguson.

He added: “The right to
work is a sacred thing. How
can a fella come from the
US and say you can’t join a
union, and say if you join
they will fire you. What kind
of nonsense is that? And
then, government officials,
ministers, they accept those
things.”

Mr Ferguson, who is also
president of the Bahamas
Hotel Managerial Associa-
tion (BHMA), said it is crit-
ically important for workers
to support the labour move-
ment.

“Employers in the
Bahamas are all working
together against one union.
So when you're fighting the

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



employer for any benefits, I
want you to understand that
you are not fighting that
employer alone; you are
fighting the employer in
Nassau, Freeport, Andros —
wherever they are. That is
the deal.

“So we have to work
together in 2011 as a team,
as a block. That is the only
way you get attention by the
government of the day.”

Mr Ferguson said the
TUC has thrown its support
behind the Bahamas
Telecommunications Com-
pany (BTC) workers, the
Bahamas Communications
and Public Officers Union
(BCPOU), and the
Bahamas Communications
and Public Managers Union
(BCPMU) in their protest
against the sale of BTC to
regional telecoms power-
house Cable and Wireless.

Visiting Grand Bahama
this week, Mr Ferguson also
revealed there is a tentative
agreement for a new indus-
trial contract for middle
managers at the Our Lucaya
Resort.

He said the agreement
was reached on November
19, and is now awaiting rat-
ification by the hotel’s own-
ers in Hong Kong.

“The agreement is framed
and structured along the
lines of the agreement that is
in effect at the Sheraton
Cable Beach in Nassau,” he
said. “We are waiting on
them to ensure that the
workers get the agreement
they are entitled to. And it is
my intention to put it to
them for ratification.”



SATURDAY

:

service, have contributed
greatly to nation building.
From humanitarian aid and
disaster relief to music edu-
cation and animal rights, the
organizations featured in the
calendar bring to light the
diversity of non-profit groups

? at work to alleviate suffering
; in The Bahamas.

Each organisation’s mission

? statement was used to inspire
? a graphic illustration by artist
? Theo McClain of local brand-
? ing and advertising firm Kar-
? ma Design. The illustration
? was then paired with a quote
? that draws attention to the
: plight that the organization is
? helping to alleviate. Beyond
: its aesthetic appeal, the cal-
? endar was also designed as a
? promotional tool for the fea-
? tured organizations, and lists

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the dates
of each
organiza-
tion’s
major
fundrais-
ing events
in order
to boost
interest,
support and donations for
their key initiatives.

The calendar launched in
December with a showing of
the featured artwork and a
silent auction of limited first
edition prints. With art enthu-
siasts and patrons of the
respective charities on hand,
funds raised from the sale of
the 12 pieces totalled $8,000
and were donated to each of
the charities just before
Christmas.

“This programme was an
important opportunity for
Colina to continue its cele-
bration of key service orga-
nizations that make a differ-
ence in the lives of Bahami-
ans,” says Melanie Hutche-
son, Corporate Communica-
tions Officer at Colina. “For
the past 17 years our pivotal
role in corporate social
responsibility has been as
organizers and presenting

Va |

- ‘ ’ ae:

THEO MCCLAIN



"Next time you
check your oil level,
look closely at the
condition of the



oll, too,"

(Castrol |





sponsors of the annual Red
Ribbon Ball — the largest
fundraiser for the Bahamas
AIDS Foundation. We
proudly undertake The Art
of Charity calendar as an
avenue to provide organiza-
tions like the AIDS Founda-
tion and others with another
opportunity to raise aware-
ness about the work they are
doing in the community.”

The calendar features
Rotary Clubs of Nassau (vol-
unteerism); Zonta Club of
Nassau (advancing the rights
of women); the Bahamas
Scout Association (youth
development); REACH
(autism awareness); Bahamas
Humane Society (ethical treat-
ment of animals); Ranfurly
Homes for Children (aban-
doned and neglected children);
Bahamas National Trust (envi-
ronmental sustainability); Nas-
sau Music Society (music
appreciation and education);
Bahamas Historical Society
(historical preservation);
Bahamas AIDS Foundation
(HIV/AIDS treatment,
research and support); The Sal-
vation Army (humanitarian
aid); and The Bahamas Red
Cross (disaster relief), featured
on the cover.



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PAGE 4, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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‘Baby Doc’ adds new twist to Haiti woes

PORT-AU-PRINCE, Haiti — Former Hait-
ian dictator Jean-Claude "Baby Doc" Duvalier
ensconced himself Monday in a high-end hotel
following his surprise return to a country deep
in crisis, leaving many to wonder if the once-
feared strongman will prompt renewed conflict
in the midst of a political stalemate.

Duvalier met with allies inside the hotel in
the hills above downtown Port-au-Prince and
spoke publicly only through emissaries, who
gave vague explanations for his sudden and
mysterious appearance — nearly 25 years after
he was forced into exile by a popular uprising
against his brutal regime.

Henry Robert Sterlin, a former ambassador
who said he was speaking on behalf of Duva-
lier, portrayed the 59-year-old former "presi-
dent for life," as merely a concerned elder
statesmen who wanted to see the effects of
the devastating Jan. 12, 2010, earthquake on
his homeland.

Duvalier — who assumed power in 1971 at
age 19 following the death of his father,
Francois "Papa Doc" Duvalier — still has
some support in Haiti and millions are too
young to remember life under his dictator-
ship. But his abrupt return Sunday still sent
shock waves through the country, with some
fearing that his presence will bring back the
extreme polarization, and political violence,
of the past.

State Department spokesman P.J. Crowley
said in a Twitter post that the U.S. was sur-
prised by the timing of Duvalier's visit. "It
adds unpredictability at an uncertain time in
Haiti's election process.”

His return comes as Haiti struggles to work
through a dire political crisis following the
problematic Nov. 28 first-round presidential
election, as well as a cholera epidemic and a
troubled recovery from an earthquake.

Three candidates want to go on to a second
round meant for two. The Organization of
American States sent in a team of experts to
resolve the deadlock, recommending that
Preval's candidate be excluded — and the
arrival of Duvalier has at least briefly over-
shadowed speculation about how the govern-
ment might respond.

State Department spokesman Mark Toner
said Washington's focus "continues to be a
resolution of Haiti's elections crisis that reflects
the will of the Haitian people and that ensures
reconstruction and humanitarian efforts pro-
ceed unabated.”

President Rene Preval, a former anti-Duva-
lier activist, made no immediate public state-
ments on the former dictator's re-emergence,
though he told reporters in 2007 that Duvalier
would face justice for the deaths of thousands
of people and the theft of millions of dollars if
he returned.

Human rights groups urged Haiti to prose-
cute Duvalier for widespread abuses.

Prime Minister Jean-Max Bellerive said he
is aware of the accusations but that an arrest is
unlikely anytime soon. At the moment, at
least, there are no pending charges against the
former dictator.

The government of France, where Duvalier
has spent most of his exile, said it had no
advance notice of the trip.

Bobby Duval, a former soccer star who
was starved and tortured during the 17 months
he was held without charge by Duvalier in the
notorious Fort Dimanche, was outraged that
Haitian authorities didn't immediately arrest
the former dictator. He recalls seeing people
beaten, tortured and executed by being
clubbed in the back of the neck.

Duvalier formed part of a father-and-son
dynasty that presided over one of the darkest
chapters in Haitian history, a period when
thuggish government secret police force — the
Tonton Macoute — stifled any dissent, torturing
and killing opponents.

He came back on an Air France jet in a
jacket and tie to hugs from supporters, waving
to a crowd of about 200 as he climbed in an
SUV and headed to a hotel with Veronique
Roy, his longtime companion.

Later, Duvalier appeared on a balcony of
the Karibe Hotel and waved to supporters
and journalists outside. Roy told reporters at
one point that "Baby Doc" would stay only
three days in Haiti and was asked why he had
returned now. "Why not?" she replied.

Once a teenage ruler, Duvalier is now a
large, stocky man with graying hair. He some-
times seemed disoriented as he faced the
crowd, as if he were struggling to keep his
eyes open.

Along with the electoral crisis, Haiti is also
dealing with a cholera outbreak that has killed
more than 3,500 people since October and
more than 1 million people are living in crowd-
ed, squalid tent encampments after their
homes were destroyed from the Jan. 12, 2010,
earthquake. At one of those camps, there was
some enthusiasm for Duvalier's return.

"T don't know much about Jean-Claude
Duvalier but I've heard he did good things
for the country,” said 34-year-old Joel Pierre.
"T hope he will do good things again.”

But the human rights groups Amnesty
International and Human Rights Watch issued
statements urging Haiti to hold Duvalier
accountable for the torture and killing of civil-
ians during his 15-year rule.

"The Haitian authorities must break the
cycle of impunity that prevailed for decades in
Haiti,” said Javier Zuniga, a special adviser
at Amnesty International. "Failing to bring
to justice those responsible will only lead to
further human rights abuses."

(This article was written by Jacob Kusgner
and Jonathan M. Kaz of the Associated Press).



Education
is nota one
way street

EDITOR, The Tribune.

Everyone is well aware
that we have an education
problem here in the Bahamas.
This issue strikes a chord with
me personally as I am
extremely passionate about
children receiving good qual-
ity education. The blame
game persists but who really is
to be blamed? I believe
wholeheartedly that educa-
tion is not a one way Street.
Parents share a lane, teach-
ers share a lane and the gov-
ernment shares another lane.

Parents: Research has
proven time and time again
that a child’s behaviour often
reflects what they are learning
in the homes. Children do
learn what they live. They
often imitate what they see
and hear. Like sponges, they
absorb things in their sur-
roundings and apply them
throughout the course of their
lives. Parents must take
responsibility for their chil-
dren and teach them morals
so as to prevent them from
becoming a nuisance to soci-
ety. They ought to unleash
potentials in their children
and take time to teach them
right from wrong, reprimand

LETTERS

letters@tribunemedia.net



them when they stir up trou-
ble and reward them when
they excel. Education is key.
Parents are the ones who
ought to ensure that home-
work and studying takes
place. They are the ones who
must ensure that when dark-
ness falls, all their children
are inside and not on some
basketball court playing or
some corner wall smoking. It
is when parents today become
lackadaisical that the chil-
dren’s education suffers. Par-
ent’s must do their part.
Teachers: I am currently
enrolled at the College of the
Bahamas and I believe
beyond the shadow of a doubt
that teachers do play a factor
in this education dilemma.
Knowing your subject is one
thing and teaching it is anoth-
er. Many teachers lack the
ability to properly explain the
lesson and sometimes the care
to monitor the children’s
progress. Mathematics has
proven to be challenging sub-

ject, not only for children here
in the Bahamas, but children
all over the world. Most
teachers do not know how to
teach this subject. Mathemat-
ics is like a ladder in that you
must climb one step at a time.
When students do not under-
stand one step and the
teacher moves on to another,
it is only creating a disadvan-
tage for that student and
many times interest in that
subject will continue to
decline. Teacher’s must do
their part.

Government: While one
must concur that the govern-
ment cannot be in the homes
with parents to test their par-
enting skills and they cannot
be in the classrooms to evalu-
ate the teacher’s capability,
they can implement pro-
grammes for educationally
challenged students. Invest-
ing in human capital will fuel
the engine of this economy.
The government must do
their part.

FUTURE
AMBASSADOR
FOR EDUCATION
Nassau,

January 14, 2011.

Genuine protest or regime change?

EDITOR, The Tribune.

While I concede that the
judicial system is available
to bring the appropriate
relief to viable litigants, I
must state, off the bat, that I
hold that the announced lit-
igation which has been com-
menced on behalf of the
unions of The Bahamas
Telecommunications Cor-
poration, is premature and
may well prejudice the
goodwill of the general pub-
lic towards them.

Litigation has its place in
the scheme of things but at
what stage? No Memoran-
dum of Understanding has
been presented to the gen-
eral public or pro-offered,
so far, to Parliament for
debate. Until this is done,
there can be no legal basis
for a Judicial Review.

It is being argued, bogusly
in my opinion, that the gov-

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ernment of the day has no
power to sell or to offer for
sale The Bahamas Telecom-
munications Corporation
and/or its assets.

There is a strict assumed
separation of powers
between the three estab-
lished branches of our sys-
tem of governance: the exec-
utive; the parliament and the
judiciary. Parliament is able,
both by the Constitution and
constitutional conventions
to make any law that it sees
fit and such laws, while they
may be “reviewed” by the
judiciary, cannot be chal-
lenged, successfully, in a
court of law. Yes, the imple-
mentation and the mode
thereof may be subjected to
“review” but not the sub-
stantive law itself.

In the USA the Supreme
Court has vastly different
powers and may actually
declare that a law passed by
Congress and approved by
the President of the day is
unconstitutional. Such a sce-
nario cannot happen in our
system of jurisprudence. I
do believe that the impacted
unions and their hapless
executives are being taken
for a proverbial ride down
the garden path.

I would have advised the

union, as I have done, to
bide their time; cease and
desist from inflammatory
remarks; tone down their
rhetoric and modify their
public posture until the so-
called MOU is presented to
the House of Assembly. In
the meantime, if they are
serious, they should seek to
put together a viable con-
glomerate with the appro-
priate proven resources to
make a counter offer to pur-
chase majority control of
BTC.

I support some of the
unions’ positions but the
tenor of their opposition is
fast becoming one of regime
change of the FNM and its
leader. Has it now become a
conflict between political
opponents or what? In a few
short months, those who
oppose the FNM will have
an opportunity to vote them
out. In the meantime, how-
ever, don’t seek to use the
BTC fiasco as a means
towards an end.

To God then,
things, be the glory!

in all

ORTLAND H BODIE
JR

Nassau,

January 13, 2011.

Aim for the skies — and you
won't be disappointed

EDITOR, The Tribune.

Fellow Bahamians, Greetings.

Iam grateful to have been given this very small opportu-
nity to speak with all of you future leaders of our country,
school children, students, via these several lines courtesy of
The Tribune newspaper, thank you.

Children as you embarked upon another school year, I
entreat you citizens of this great country, The Bahamas, to
buckle down and give your school work the kind of attention
it deserves/needs and the kind of attention you are capable
of, to get the kind of results that are not only expected of you
by your teachers/parents, but yourselves. In other words, aim
for the skies and you will not be disappointed.

Finally, herein lies the concept: Children, you will attend
high school only once in your life time... Questions: How do
you wish to remember it? Would you like to remember it as
having wasted precious time and failed?

Would you want to remember it as having done your
best... and thus, succeeded. Better prepared for the future?

The size of your efforts now, will determine what becomes

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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 5





THE judicial review hearing of
veteran prosecutor Cheryl Grant-
Bethell began in Supreme Court
yesterday.

Mrs Grant-Bethell is secking judi-
cial review on two matters. The first
is a decision taken by the Judicial
and Legal Services Commission
(JLSC) on May 11, 2010 purporting
to appoint her to the post of Deputy
Law Reform Commissioner. The
second relates to the proceedings
regarding her application for the
post of Director of Public Prosecu-
tions.

Her attorney Wayne Munroe said
yesterday that when former Director
of Public Prosecutions Bernard
Turner gave notice of his intention
to demit office, he had recommend-
ed that Mrs Grant-Bethell succeed
him.

Mrs Grant-Bethell wrote the
Attorney General on October 29,
2009, informing him of her expecta-
tion be appointed to the DPP post
upon Mr Turner’s resignation.

Mr Munroe further told the court
that on November 2, Mrs Grant-

LOCAL NEWS

Grant-Bethell judicial review

Bethell began acting as DPP assum-
ing the responsibility of the sub-
stantive post although no immediate
appointment had been made.

Mr Munroe noted that the posi-

SEEKING JUDICIAL REVIEW: Cheryl Grant-Bethell

7



el

tion was subsequently advertised.
He said Mrs Grant-Bethell submit-
ted her application for the post.
He said that on December 31,
2009, she met with the prime minis-

ter, who assured her he had advised

DPP.

post for a period of one year.

she would serve as Acting DPP.

Mr Munroe argued that the JLSC

had failed to comply with regula- i.
tion five of its rules, having kept no } ee erie : make :
minutes of any of the meetings with : ini its home camly thal ion:

i ing.
He told the court that on April }

Mrs Grant-Bethell.

20, 2010 Mrs Grant-Bethell again

met with the prime minister, at

which time an ambassadorial ; before Chief Magistrate

? Roger Gomez was not

: i required to enter a plea to the
Mr Munroe said that on May 4, ? murder charge. He has also
his client was advised of her appoint- } been charged with two counts
? of burglary. It is alleged that

Reform Commissioner, although she
; and robbed his wife of
He said that Mrs Grant-Bethell : ee oe
viewed the appointment as a lateral
? Moxey at Culmer’s Alley. It is

i alleged that when he was

appointment was offered to her.

ment to the post of Deputy Law

never applied for the post.

move and not a promotion.
The case continues today.

On Janaury 7, 2010, she was told Ce ae
‘ ? Court yesterday charged wi
that she would be appointed to the te Nowy ae Eve mde
3 ? of M Metellus.
She met with JLSC on Janaury : ea
11, 2010 and they determined that :

i ano Tucker, 23, of St James
? Road, with the murder of Mr

Bahamians are urged to use

online passport application






BAHAMIANS are being
encouraged to use a newly
launched online application
to apply for their passports
and make an appointment
through e-mail for enrol-
ment.

“T would strongly advise
persons to use that system
because it would free up the
waiting time at the office, it
would allow staff to pull the
files,” said Deputy Prime
Minister and Minister of
Foreign Affairs and Immi-
gration Brent Symonette.

The online application
can be found at the website
https://epassport.bahamas.go
v.bs/ecalendar/PreReq.aspx

Since the introduction of
machine readable passports
and ePassports three years
ago, the Passport Office in
Nassau has issued 126,000
passports.

Mr Symonette said this
number represents “a great
achievement”.

“The staff at the Passport
Office should be compli-
mented; they’ve done an

excellent job,” he said.

Bahamians anywhere in
the world can apply for their
passports through the For-
eign Missions in Washing-
ton, DC, Atlanta, New
York, Miami, Canada, the
United Kingdom and Chi-
na.

Mr Symonette also
addressed the question as to
why applicants need to sub-
mit their birth certificates
when renewing their pass-
port.

“One of the things we are
doing is updating our files
to make sure we have the
right birth certificate and the
right documents on file.
Some persons who have
passports should not be in
possession of a Bahamian
passport,” he said.

Meanwhile, another
aspect to the ePassport pro-
gramme is the introduction
of the mobile unit which
travels throughout the coun-
try processing renewals and
new passport applicants.
The unit is headed to Exu-



ma, and residents there are
being urged to have all the
necessary documents for
processing.

To date, the unit has
processed approximately
1,200 applicants.

Enrolled

Once the applicants are
enrolled and payment
received, the application will
go to the Data Entry
Department for document
scanning and then on to
approval and production of
the passport.

This process takes 12
days to complete.

So far, the mobile unit
has visited Eleuthera, and
still on the itinerary are Exu-
ma, Long Island and
Andros. There are three
members of the mobile unit
team — two enrolment offi-
cers and one IT officer.

The International Civil
Aviation Organisation
(ICAO), of which the
Bahamas is a member, has

College professor warns
of ‘economic apartheid’

mandated that by 2010, all
countries must begin issuing
machine readable passports
or ePassports.

The modern passport is
being upgraded from a sim-
ple paper document to a
more secure one — with bio-
metrics features, including
facial characteristics, and fin-
gerprinting.

BRENT SYMONETTE

ECONOMIST DR Olivia Saunders has
labelled the country’s economic model an oppres-
sive system that fails to empower and develop
Bahamians — and warned of disastrous conse-
quences if it is retained.

Dr Saunders, associate professor in COB’s
School of Business, delivered this assessment as
one of the presenters at the 20th Bahamas Busi-
ness Outlook on Thursday, January 13 at the
Wyndham Nassau Resort.

She said: “Our economic model perpetuates an
economic apartheid. We operate in a world cap-
italist system and operate an economic model
that hinders, nay restricts, our general citizenry
from owning capital in the key wealth generating
sectors, while fostering capital ownership from
within the Bahamas by non-Bahamians.”

The Bahamian economy is primarily services-
based, with the bulk of government revenue
earned through customs duties, taxes on inter-
national trade and indirect taxes.

Responsibility

Classifying this as a “dependency model”, Dr
Saunders said it causes the Bahamas to relin-
quish responsibility for its resources and therefore
control of its economy.

Under this structure, she said, residents are
limited to being labour providers and consumers,
while the owners of the economy — foreign
nationals and a small minority of locals — amass
great wealth.

Dr Saunders also characterised the current tax
regime, which places the burden of revenue gen-
eration primarily on consumers, as oppressive
because of its reliance on foreign investment.

“It is now time for us to put aside our reli-
gious devotion to this economic model we had in
place for well more than a century. An econom-
ic model is only a model of how an economy
functions. The Bahamas is much more than an
economy. The Bahamas is a nation. This nation

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comprises human beings. The entirety of focus for
any policy-maker has to be the evolutionary pro-
gression of the nation — the evolutionary pro-
gression of its people and those institutions which
serve the people.”

The professor acknowledged, however, that
Majority Rule brought changes through invest-
ment in social institutions, especially education,
which engendered a higher quality labour force
and in turn allowed for broader and deeper par-
ticipation in the economy.

Mapping a course of action on the way for-
ward, Dr Saunders urged the adoption of an
inclusive, dynamic economic structure that
embraces the talents of the Bahamian people.

“Within the College of the Bahamas’ commu-
nity alone — faculty, students and graduates —
can be found persons who can find solutions to
any problems facing the country today. The
capacity to design any physical or organisational
structure for developing the country exists with-
in the Bahamas and its people.

“Bahamians are endowed with the aptitude,
the expertise to own and operate any organisation
we decide is vital to our progress, our develop-
ment and for nation building,” she said.

Dr Saunders delivered her presentation just
hours after Prime Minister Hubert Ingraham
told the same audience he understands the
impulse of some to downplay the resilience of
tourism, but said there is also a failure to recog-
nise the opportunity for diversification which
exists within the sector itself.

He added that tourism is one of the fastest
growing industries globally — one which industrial
economies were benefitting from long before
island economies recognised its enormous poten-
tial.

The prime minister said the extent to which
creativity and innovation can occur, will largely
depend on the ambitions, capabilities and pursuits
of the entrepreneurial community.



MAN CHARGED

WITH NEW YEAR'S

hearing begins in Supreme Court |

i Tribune Staff Reporter
? nmckenzie@tribunemedia.net
that she be appointed to the post of }

EVE MURDER

By NATARIO McKENZIE

A 23-year-old man was
arraigned in Magistrate’s

Police have charged Torri-

Metellus, 44.
Mr Metellus was shot and

His death was the 96th

? homicide for 2010.

Tucker, who was arraigned

he broke into Metellus’ home

i there he made death threats
? against Moxey and assaulted
i him with a handeun. Tucker
i pleaded not guilty to the

i charges.

His case was transferred to

? Court 6, Parliament Street,

i for a preliminary inquiry

i despite his protest that he

? would not get a fair hearing

? there. The case was adjourned
? to January 26.











oy tr:
Exterminators
AAW Tat)!
Fa A

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121 EAST ST. PH 322-5276







PAGE 6, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



Tele-ambulatory service to help

combat trauma cases increase

TUNISIA

ANNOUNCES

NEW GOVT

TUNIS, Tunisia
Associated Press

TUNISIA took a step
toward democracy and rec-
onciliation Monday,
promising to free political
prisoners and opening its
government to opposition
forces long shut out of
power — but the old guard
held onto the key posts,
angering protesters.

Demonstrators carrying
signs reading "GET OUT!
demanded that the former
ruling party be banished
altogether — a sign more
troubles lie ahead for the
new unity government as
security forces struggle to
contain violent reprisals,
shootings and looting three
days after the country's
longtime president fled
under pressure from the
streets.

"We're afraid that the
president has left, but the
powers-that-be remain,”
said Hylel Belhassen, a 51-
year-old insurance sales-
man. Even before the new
government was
announced Monday, secu-
rity forces fired tear gas to
repel demonstrators who
see the change of power as
Tunisia’s first real chance
at democracy.

President Zine El
Abidine Ben Ali fled Fri-
day to Saudi Arabia after a
month of protests over
unemployment and cor-
ruption led to his downfall
after 23 years in power.

The government
announced Monday that 78
civilians have died in the
month of unrest — an
announcement that under-
lined the depth of the vio-
lence in the usually placid
Mediterranean tourist des-
tination.

Under autocratic Ben
Ali, Tunisia was effectively
under one-party rule. The
new government named
Monday includes three
ministers from the opposi-
tion — a first in Tunisia —
but members of Ben Ali's
RCD party held on to most
of the jobs, including the
most important posts.

Security forces have got-
ten an image makeover in
the public mind. The once-
feared police have been
fighting snipers and armed
groups widely believed to
be Ben Ali loyalists.

Nearby nations, mean-
while, faced a wave of self-
immolation attempts Mon-
day, apparently influenced
by the desperate Tunisian
man who set himself on
fire a month ago, sparking
the protests that brought
his president down.

In Tunisia, hundreds of
stranded tourists were still
being evacuated and for-
eign airlines gradually
resumed flights that were
halted when Tunisian air-
space closed amid the
upheaval.

Besides the 78 civilians
killed in the monthlong
protests, Interior Minister
Ahmed Friaa said 94 civil-
jans were injured — a jump
from the previous official
death toll of 23. The new
figure does not include
members of security forces,
some of whom also died,
Friaa said.

Among victims of the
violence was a French pho-
tojournalist who died Mon-
day after being hit in the
face with a tear gas canister
three days earlier.

The French Foreign
Ministry said Loucas Von
Zabiensky-Mebrouk, 32,
was the "victim of a delib-
erate homicidal act.”

The troubles have rever-
berated to the tourist-
based Tunisian economy,
which Friaa said has lost
$2 billion because of the
unrest.

Resort towns like Ham-
mamet are boarded up and
under police control, said
Norredine Gohdbani, who
worked in a restaurant
there and has returned to
stay with his family in
Tunis.

Friaa told reporters that
85 police stations have
been damaged around the
country, along with 13
town halls, 43 banks, 11
factories and 66 stores or
shopping centers.

THE country’s tele-medicine pro-
gramme will be further expanded
to include a tele-ambulatory com-
ponent to help deal with the increase
in trauma cases, Minister of Health
Dr Hubert Minnis said Friday.

According to the National Emer-
gency Medical Services Department,
the estimated 44 per cent increase in
gunshot victims in 2010 compared
to the previous year and an overall
rise in trauma cases is taking a
“major toll” on the health care sys-
tem.

To help combat this problem, a
tele-ambulatory programme will be
launched in New Providence.

Dr Minnis said the programme,
which will start with at least one
emergency medical service vehicle at
the Princess Margaret Hospital
(PMH) being outfitted with tele-
medicine capability in its initial
stage, will play a major role in
expanding critical care to victims at
the scene of traumatic events such as
shootings, knifings and road traffic
crashes.

Emergency medicine physicians
at the Accident and Emergency
Department of the Princess Mar-
garet Hospital — led by Dr Colin
Bullard, an emergency medicine
specialist and coordinator of the
tele-medicine programme — will be
able to diagnose and commence
treatment of trauma patients on site
via video-conferencing.

Dr Minnis said this capability will
not only significantly reduce the
time between trauma and treatment,
but will also have a domino effect on
the management of trauma and oth-
er cases at PMH as increased
demand for bed space is one of the
negatives associated with increased
trauma cases.

The tele-ambulatory service is part
of a wide-scale initiative by officials
of the Ministry of Health, the
Department of Public Health and
the Public Hospitals Authority to
address treatment of the rising num-
ber of trauma cases either present-
ing, or being transported to, the
Accident and Emergency Depart-
ment of the Princess Margaret Hos-
pital, Dr Minnis said.

Health officials have developed a
number of other initiatives to

-

address the issue, including expand-
ing the Accident and Emergency
Department of PMH and beginning
work on the construction of a new
treatment facility at the former City
Market building on Market Street.

An education and training pro-
gramme has also been established
with a number of teaching and med-
ical facilities throughout the United
States and Canada whereby
Bahamian emergency medicine per-
sonnel can share experiences and
best practices with their interna-
tional and regional counterparts via
video-conferencing.

Trauma cases, including those
related to shootings, knifings and
traffic crashes, have “dramatically”
increased the need for bed space in
the Accident and Emergency Sec-
tion of the PMH, Dr Minnis said.

“The whole idea is that trauma
physicians in the emergency room



will be able to commence treatment
of the patient at the accident site or
roadside and that will improve the
quality of care and improve the out-
comes of those patients,” he said.
“Additionally, our emergency
room doctors can continue to mon-
itor and treat the patient while
enroute to the hospital, which will
improve the quality of critical care to
the patient. There is no doubt that
the introduction of the tele-ambu-
latory service will have great impact
not only on the quality of life of vic-
tims of trauma, but also reduce some
of the costs associated with the treat-
ment and care of trauma patients.”
Dr Minnis said trauma cases
involving gun shot and stab wounds,
and injuries from road traffic crash-
es, are on the increase and are hav-
ing “great impact” on PMH as trau-
ma cases “take precedence over a
lot of cases because they are such

an emergency or life and death sit-
uation.”

He said in addition to requiring
large amounts of bed space, the cas-
es carry significant external, internal,
psychological and financial burdens
on the victims and indeed the
healthcare system of the Bahamas.

Dr Minnis said while the external
injuries are obvious, the internal and
psychological ones are less obvious
and involves a wide range of care.

“Trauma cases have great impact
because those cases not only take
up quite a bit of bed space, but they
also increase demand on the Inten-
sive Care Unit which is thousands
and thousands of dollars, in addi-
tion to placing a high level of
demand on the human resources of
the healthcare facility insofar as sur-
gical and medical staff are con-
cerned,” Dr Minnis said.

Tele-medicine programme for Family
Islands gets vote of confidence

DUNDAS TOWN, Aba-
co — The tele-medicine pro-
gramme between the
Princess Margaret Hospital
in New Providence and the
Marsh Harbour Clinic in
North Abaco received a
major vote of confidence
this week when one of its
first patients proclaimed he
“would not have been alive
today if the programme had
not been implemented.”

Charles Bartlett made the
statement during a town
hall meeting at the Friend-
ship Tabernacle Church in
Dundas Town, Abaco last
week. The meeting was
held to inform residents of
the proposed expansion of
the programme to include
a dermatology clinic.

Minister of Health Dr
Hubert Minnis led a dele-
gation of health officials
from New Providence to
Abaco. They included spe-
cialist physicians Dr Her-

MINISTER OF HEALTH Dr Hubert Minnis in Abaco.





bert Olander, a dermatolo-
gist, and Dr Colin Bullard,
an emergency medicine
specialist who serves as the
coordinator of the tele-
medicine programme.

“The tele-medicine pro-
gramme saved my life. I
would not have been here
today without it,” Mr
Bartlett proclaimed to a
round of applause. “I am
alive, well and healthy
today because of the pro-
gramme.”

Dr Minnis said that
because of its early success-
es, the programme will be
expanded to include a tele-
dermatology clinic. That
expansion will take place
on Friday, January 21, 2011.

The Health Minister said
the expansion of the pro-
gramme into dermatology

will go a long way in treat-
ing and reducing the num-
ber of skin disorders that
are affecting Bahamians.

Abaco, he said, is the
Starting point for the pro-
ject.

As with the initial tele-
medicine programme, Aba-
conians with skin disorders
will now be able to be
assessed by Dr Herbert
Olander and his team of
dermatology professionals
at the clinic in Abaco —
thereby reducing their need
to travel into New Provi-
dence for dermatology con-
sultations/treatment.

Dr Minnis said medicines
for various skin disorders
are already on location to
facilitate any prescriptions
written by Dr Olander and
his medical staff.

“The purpose of the pro-
gramme is to ensure that
every Bahamian, on every
island within the Common-
wealth has access to the
same kind of quality health-
care treatment as those
residing in New Providence
and Grand Bahama,” Dr
Minnis said.

“There is no doubt that
small-island states such as
the Bahamas face chal-
lenges in constructing full-
scale, specialist medical
facilities on every island and
every cay because of our
archipelagic make-up.

“Tele-medicine will allow
us to overcome those chal-
lenges, and once the infra-
structure is put in place,
Bahamians and visitors
alike in far-flung islands
such as Inagua and

Mayaguana will be able to
receive the same kind of
specialist care and attention
as those in New Providence
and Grand Bahama,” Dr
Minnis added.

He said the programme
has positively impacted the
provision of quality health-
care services to mainland
Abaco and its surrounding
cays by increasing access to
emergency and other care,
helping to reduce the need
for air ambulatory services
for critically injured persons
who can now be assessed
on the ground in Abaco,
and by reducing the need
for travel into New Provi-
dence for consultations.

Similar successes, he said,
should be attained in the
other islands of The
Bahamas.

“What the tele-medicine
programme has done is that
it has allowed medical per-
sonnel in New Providence —
led by Dr Bullard and his
team — to liaise with med-
ical personnel in Abaco to
assess, examine, diagnose
and treat patients,” the
Health Minister said.

“This has helped to
expand the healthcare ser-
vices provided into Abaco
as specialist physicians are
able to review cases in ‘real
time’ and provide examina-
tions as if they were actual-
ly on location reviewing the
patients themselves — the
system is just that good.”

Dr Minnis said health
officials will expand the
programme into a number
of other Family Islands
within the near future.

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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 7



LOCAL NEWS



Lyford Cay Foundation
makes donation to the
Mackey Yard fire victims

THE Lyford Cay Foun-
dation (LCF) said it has
made an emergency gift of
$10,000 to the Salvation
Army of the Bahamas and
Great Commission Min-
istries to help underwrite
their efforts to provide
shelter, food, clothing and
other supplies to the vic-
tims of the devastating
Boxing Day fire which left
hundreds of people in the
area known as Mackey
Yard homeless.

“The Foundation’s aim is
to lend assistance that is
likely to have a long-term
benefit, but we also recog-
nise the critical nature of
short-term need and decid-
ed to act immediately to try
to help the many men,
women and children dis-
placed by this tragedy,”
said Kylie Nottage, chair of
LCF's Gifts and Grants
Committee.

“We have worked exten-
sively with the Salvation
Army of the Bahamas and
Great Commission Min-
istries in the past, and we
know that they are able to
reach out quickly and effec-
tively to get help to people
in need in the community.”

The LCF said it has given
a total of $139,968 to the
Salvation Army and
$25,718 to Great Commis-
sion Ministries over the
years to fund their various
philanthropic projects.

These two groups —
along with other non-prof-

STN ie torn tok i
J yy U ARY Cake Cutting, Junkanoo Rush-Out,

22”, 2011

Tonique Williams Darling Highway

its, faith-based organisa-
tions and government agen-
cies — mobilised right
away to lend humanitarian
assistance to the victims of
the fire, primarily by pro-
viding them with food,
water, clothing, blankets,
pillows, cots and a host of
personal care items.

Given their limited funds
and the increasing demand

COOK MARIE ROLLE prepares a
hot meal at the Great Commission

Ministries Feeding Centre.

able to assist more sur-
vivors with more of their
immediate needs.”

The Boxing Day fire
destroyed 120 shanties in
what is believed to be one
of the oldest Haitian vil-





for their services at this Jages in New Providence.
economically challenging About 350 people were
time, neither organisation displaced in the tragedy.
was sure how longit would

be able to keep up this

wor GREAT CAINE! | IMS
The Foundation gift was FOOD COMMISSION gs ae

very timely, as we were ! BANK MINICTROIFTG
Minalee Hanchell, execu. PRPPe i, : * at
tive director of Great Com- . % - ] i
feeds hundreds of people
Marsha Kanady, commu-
similar sentiments.
efforts for the fire sur-
to purchase these items.

challenged with serving

mission Ministries, which / (

daily. “We will continue to

nity relations and develop- i ai ‘
“The Lyford Cay Foun-

vivors,” she said.

With this gift we will be





HANDS FOR HUNGER delivers
food donated by Atlantis to
Great Commission Ministries
at #16 Wulff Road.

both our regular clients and
provides emergency shel- j
reach out to the victims and iv
=
ment associate at the Sal-
dation's gift will make a
“Disaster supplies are not

the disaster victims,” said
ter and counselling, and
their families.” ~
vation Army, expressed
huge difference in our relief
cheap, and it takes funding

1* Year Anniversary
with a day filled with
entertainment,

fun and laughter.

UT ew UL |
at $10 per person
FREE entrance all day!

Fireworks Display, Bouncing Castle,
Face Painting, Popcorn,

Cotton Candy & Snowcones.

Call 326-8010 for information.

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PAGE 8, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Education + politics
= illiteracy + waste

By RALPH J MASSEY

UNFORTUNATELY
..the failure of public edu-
cation in both the U. S.
and the Bahamas ranks
close to jobs and budget
deficits as one of the most
difficult public policy
issues of the day. The evi-
dence of the public educa-
tion failure in the U.S. and
the Bahamas is clear.
However, the average citi-
zen cannot help but be
confused about what is
wrong and what should be
done. The evidence is
clearer with respect to the
US, but it is relevant to the
Bahamas.

Explosive Documen-
taries

The level of academic
achievement in the U. S.,
the long-standing status
quo, promises catastrophic
long-term economic and
social consequences. The
20th Century world super-
power ranks 24th behind
virtually all advanced
Asian and European coun-
tries in international aca-
demic rating systems.
Academically it is under-
achieving; and two recent-
ly released full-length film
documentaries deal with
this.

“Waiting for Super-
man” is in limited public
distribution; and in late
February it is expected to
win the Oscar for Best
Film Documentary. It
focuses on a particularly
successful type of school
that flourishes in urban
low-income neighbour-
hoods.

“The Cartek education
+ politics = $” is about
New Jersey, the state with
the highest expenditures
per student in America
and an unacceptably low
academic achievement
ranking.

One should note that
New Jersey has three types
of public schools:

¢ Regular public schools
with teachers in teachers’
unions,



¢ Magnet public schools
that have a specialized cur-
riculum also with teachers
in teachers’ unions, and

¢ Charter schools that
are publicly owned but pri-
vately operated with teach-
ers who are not in teach-
ers’ unions.

The New Jersey Reality
Show

The latter documentary
argues that in New Jersey
there is a Cartel made up
of unions, school boards,
the New Jersey Depart-
ment of Education and
politicians that collude sys-
tematically for their gain
at the expense of students
and the state's tax payers.

The immediate losers
are the students as mea-
sured by what they don't
know and cannot do on
leaving school and a state
financial budget that has
been out of control.

The documentary
describes and illustrates
how the Cartel works with
interviews and hard
data...a simply fascinating
one hour and thirty-two
minute tour de force.

One example is a new
$30 million football stadi-
um at Shabazz High
School located in a low
income district where only
14 per cent of the students
get a passing grade in
math...a startling contrast
of wasteful spending and
academic failure.

The Obsolete Paradigm

The obstacle to educa-
tion reform in large mea-
sure is the political power
of the New Jersey Educa-
tion Association (the
NJEA, the teachers
union).

The issue is not the qual-
ity of 60 to 70 per cent of
public school teachers;
rather it is the 30-40 per
cent that are not and can-

Ch Bethel Brothers Morticians

Telephone: 322-4433, 326-7030
Nassau Street, P.O.Box N-1026

Memorial Service For

DERYCKERE, 63

of Soldier Road and formerly of
Belgium, will be held on Thursday,
January 20th at 11am at Sacred Heart
Catholic Church, East Shirley Street.
Fr. Mel Taylor will officiate.

He is survived by his wife, Esther
Deryckere; one daughter, Jacqueline
Deryckere; one son, Richard Deryckere;
his parents, Richard and Erna

Deryckere of

Belgium; two

grandchildren, Cassandra Deryckere
and Sky Anthony Deryckere; four
sisters, Karine Demersman, Michelline
Tonitte, Domongie DeVuyst and
Martine Alemeda; and a host of other
relatives and friends.

Pre-Cremation.

In lieu of flowers, please send donations
to the Ranfurly Home for Children



not be fired for cause.
Teachers achieve tenure
after three years and one
day of service; and they
are protected against
unlawful discharge by a lit-
igation process that the
NJEA zealously uses to
block 99.7 per cent of all
proposed separations.
Because of the costly liti-
gation hurdle, it is virtual-
ly impossible to fire a
teacher.
And...guaranteed
employment-for-life has
disastrous consequences:

1. Learning Impairment.
Students who get more
effective teachers have an

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Ff Gg Hh Li Jj Kk
LI Mm Nn Oo Pp

Qq Rr Ss Tt Uu Vv
Ww xx Yy 22



extreme advantage while
those with poor teachers
experience a “near-perma-
nent retardation of acade-
mic achievement.”

Strong evidence supports
the conclusion that a good
teacher will produce “a
student gain of one anda
half grade-level equiva-
lents during a single acad-
emic year; whereas a bad
teacher will produce a gain
of only a half year...and...it
is likely that the typical
student will get a run of
bad teachers.”

2. Picking Good Teach-
ers. It is extremely difficult
to identify those teaching
candidates that will pro-
duce superior student-
learning gains. Unfortu-
nately, “teacher-education
courses taken” or a
teacher's Intelligence Quo-
tient are not good indica-
tors of future teaching suc-
cess.

It helps if teaching can-
didates have under-gradu-
ate degrees in specific aca-
demic fields; however, Eric
Hanushek, the leading
education economist, con-
cludes that what happens
after a teacher is hired
reveals more valid indica-

tors of teacher effective-
ness; and he strongly rec-
ommends that teacher
rewards and promotions
should be tied to the mea-
sured academic gains reg-
istered by a teacher's stu-
dents.

Such a policy means
that a school district must
engage in a continual
process of hiring, evaluat-
ing and firing to acquire a
stable of quality teachers
in order to avoid trapping
unfortunate students in a
series of poor
teachers...thus creating a
life-time learning impair-
ment. In this case the
“best practice” is the polar
opposite to employment-
for-life.

The Inconvenient Truth

The Cartel documen-
tary, however, identifies a
genuine road map to
extract New Jersey from
the present quagmire
.. Namely, the unleashing
of its existing charter
school programme and
combining it with student
education vouchers given
to all students who redeem
them at the public or pri-
vate schools that accept
them.

The past performance
record of charter schools
maybe viewed differently
depending on the analyst.
Up until now the New Jer-
sey Charter Schools have
been approved and regu-
lated by the Cartels and it
is no surprise that the total
number of charter school
students is very small. This
creates an excess number
of students applying to
charter schools; in this sit-
uation the state mandates
the use of lotteries to
determine who gets admit-
ted.

Teachers unions are dia-
metrically opposed to
charter schools since they
allegedly drain financial
resources from unionized
to non-unionized schools;
and thus their objective is
to limit their success.

Progressives and liberals
generally favour existing
U.S. Government voucher
programmes like the GI
Bill and Pell Grants that
support college atten-
dance, food stamps and
housing vouchers; but they
abhor school vouchers.

The inconvenient truth
is that education vouchers
split the funding of educa-
tion from the delivery of

education services. The
New Jersey charter schools
may produce higher acad-
emic achievement and/or
a “safer” learning environ-
ment; but The Cartel
prefers to fund regular and
magnet public schools.
That's the Inconvenient
Truth.

However, the newly
elected Governor Chris
Christie is on a mission to
change this.

The Bahamas

What do we know about
public school reform in the
Bahamas?

The good news is that
the nation has a Minister
of Education who is deal-
ing with the Department
of Education in an effec-
tive way.

The bad news is that he
inherited the “New Jersey
good teacher/bad teacher”
problem; and he must deal
with long-standing and
deeply-ingrained beliefs
that are hostile to the New
Jersey reform programme.

And...there is a need for
anew ten-year plan with a
convincing Bahamian
strategy.

There is nothing easy
about this task.

New $20,000 scholarship
for those wishing to enter
the financial services sector

A NEW entrance scholarship val-
ued at $20,000 has been established
by the Lombard Odier bank as a
result of its relationship with the Col-
lege of the Bahamas.

According to COB, the bank — one
of the oldest private banking firms
in the Bahamas — has created this
scholarship to “help cultivate a new
cadre of professional talent in the
financial services sector”.

The Lombard Odier Darier
Hentsch Private Bank and Trust
Limited Entrance Scholarship makes
$5,000 per year available to a stu-
dent with demonstrated academic
excellence pursuing a full-time
undergraduate degree at the College
in banking and finance with a for-
eign language, COB said in a state-
ment.

“Young adults would agree that
tourism is great, but private banking
is another great option,” said Christ-
ian Coquoz, senior vice-president of
Lombard Odier.

“We want to provide an opportu-
nity for students who are interested
in the banking arena to have the
funds necessary to pursue higher edu-
cation.”

Graduates of COB’s School of
Business have through their profes-
sional pursuits made vast contribu-
tions to the development of the finan-
cial services sector. Many of them
hold leadership positions across the
industry and have developed valu-
able innovations, the college said.

Dr Betsy Boze, College president,
lauded Lombard Odier as a gener-



“This is an
outstanding gift
which demonstrates
that Lombard Odier

recognises the critical

importance of
supporting high
achieving students
and fostering unique
opportunities for
student development
in the banking and
finance sector.”



Dr Betsy Boze

ous benefactor committed to the
development of future Bahamian
banking and finance leaders.

“This is an outstanding gift which
demonstrates that Lombard Odier
recognises the critical importance of
supporting high achieving students
and fostering unique opportunities
for student development in the bank-
ing and finance sector," she said.

In addition to COB Entrance
Scholarship, the bank said it has also
developed an innovative programme
which identifies an academically



promising seventh grade student for
mentorship throughout high school
and then provides a scholarship for
tuition. In this way, the bank said it is
acting on its commitment to educa-
tion from the secondary to tertiary
levels.

“Rather than just make a donation,
we really want to associate ourselves
with said Mr Coquoz.

“At one stage, that student will per-
haps do a summer internship here
and then receive a scholarship. Basi-
cally this is a ten-year commitment.”

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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 9



LOCAL NEWS



BNT Discovery Club
members experience
the great outdoors

BAHAMAS National Trust
Discovery Club Members from
Oakes Field Primary and St
Andrew’s School participated
in their first camping activity
just before the Christmas.

Club members took ‘Camp-
ing 101’ where they were intro-
duced to pitching a tent, rolling
a sleeping bag and how to man-
age good personal hygiene with
very little water.

Campers were able to prac-
tice their newly acquired skills
immediately as they travelled
deep into the Retreat gardens,
their campsite for the evening,
to pitch their tents and get
acquainted with their tent
mates.

Most of the campers had a
good laugh as they accepted the
challenge of cleaning up for bed
with only two baby wipes each.

Despite an evening rain, the
campers’ spirits were not damp-
ened as they gathered together
for songs and ghost stories led
by Discovery Club leaders Matt
Holten and Hilary Lockhart.

Once the rain ended the
group gathered around the
camp fire for the traditional
roasting of marshmallows and
more stories.

The campers arose at 6am to
make breakfast, wash dishes
and clean up their campsite.

Urgent plea for blood donations
FAMILY and friends of Millie Lleida have made an urgent

plea for blood donations.

Mrs Lleida is in the Intensive Care Unit at Doctor’s Hospi-

tal after undergoing surgery.

Anyone with the blood type “O” is asked to visit the hospi-
tal urgently and ask to donate blood to Mrs Mildred Lleida.



CAMPING 101:



According to Shacara Light-
bourne, BNT Discovery Club
coordinator, the camp was a
great success.

“We are always pleased
when two different clubs decide
to camp together. It allows
young people from different
backgrounds to experience fel-
lowship and share experiences
while learning to appreciate
their natural environment.”

PARAGUAY:

Amnesty says ‘Baby Doc’ must face | tewure

BY GUERRILLA

justice for Haiti rights violations —— scaccsons

ASUNCION, Paraguay

AMNESTY International yesterday urged the Haitian
authorities to bring former president Jean-Claude Duva-
lier — also known as ‘Baby Doc’ - to justice for human
rights abuses committed during his regime in the 1970s
and 80s.

“The widespread and systematic human rights viola-
tions committed in Haiti during Duvalier’s rule amount to
crimes against humanity. Haiti is under the obligation to
prosecute him and anyone else responsible for such
crimes,” said Javier Zufliga, special advisor at Amnesty
International.

Jean-Claude Duvalier returned to Haiti on Sunday
after nearly 25 years in exile in France. He fled Haiti in
1986 after a popular uprising which was violently
repressed by the former Haitian Armed Forces and a
local militia known as the “tonton macoutes” after the
boogeymen said in local children’s fables to walk the
streets after dark.

Throughout his 15 years in power (1971-1986) systemat-
ic torture and other ill-treatment were widespread across
Haiti, Amnesty International said.

Hundreds of people “disappeared” or were executed,
the organisation said.

Members of Haiti’s armed forces and the National
Security Volunteers militia - also known as the “tonton
macoutes” — played a primary role in repressing pro-
democracy and human rights activists. The “tonton
macoutes” were disbanded in 1986 after Jean-Claude
Duvalier went into exile.

“The Haitian authorities must break the cycle of
impunity that prevailed for decades in Haiti,” said Mr
Zufiiga. “Failing to bring to justice those responsible will
only lead to further human rights abuses.”

HAITI'S FORMER DICTATOR Jean-Claude ‘Baby Doc’ Duvalier,
center, waves to supporters from a hotel balcony after his arrival in
Port-au-Prince, Haiti, Sunday Jan. 16, 2011. (AP)



A LEFTIST guerrilla
group has claimed respon-
sibility for a bomb that
injured five people as
Paraguay's third bombing in
a week raised alarm about
increasing activity by the
self-styled Paraguayan Peo-
ple's Army, according to
Associated Press.

A handwritten letter left
nearby vowed to continue
anti-government attacks and
to show no mercy for police
shootings of their comrades.

Interior Minister Rafael
Filizzola flew to the scene
Monday hours after the
bomb exploded just before
midnight. He vowed no
retreat in the effort to jail
the guerrillas and dismantle
their organization, known
by the Spanish initials EPP.

The latest homemade
bomb was left in a backpack
outside a police station in
Horqueta, a small town in
northern Paraguay that is
home to fugitive members
of the EPP. Someone deto-
nated it by remote control
as four officers sat in a police
vehicle nearby. All four
were expected to recover,
although one had serious
eye damage, special forces
commander Elizardo Rojas
said. A fifth victim — a
motorcyclist passing by —
sought treatment for hear-
ing damage at a hospital and
was being sought as a wit-
ness.







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JAPANESE MARITIME REPRESENTATIVES
PAY COURTESY CALL ON MINISTER

JAPANESE maritime representatives paid a cour-
tesy call on Environment Minister Ear] Deveaux to
introduce their choice for the International Maritime
Organisation’s Secretary General post, Koji Sekimizu,
the current director of the Maritime Safety Division.

Mr Sekimizu campaigns on the mission of ensuring
safety at sea and the emerging issues of anti-piracy solu-
tions.

The Bahamas is the third largest ship registry in the
world, following Panama and Liberia, and holds an
influential position on the IMO.

Pictured from left to right are Ronald Thompson,
Environment Permanent Secretary; Mr Deveaux; Nori-
fumi Idee, director general of Japan’s Maritime Bureau;
Yasuhisa Mitani, director general of Japan Ship Centre
(JETRO).

Gena Gibbs/BIS





PAGE 10, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



LOCAL NEWS



Male student
gives emotional
testimony in
teacher sex case

FROM page one

incidents started while he
was in the seventh grade and
continued up to the 12th
grade, and once after he had
graduated.

Justice Hartman Longley
presides over the case, which
is before a jury of seven men
and two women.

Ambrose Armbrister and
Erica Kemp of the Attor-
ney General’s office are
appearing on behalf of the
Crown.

Birbal, a Trinidadian, is
charged with two counts of
unnatural sexual intercourse
with two male students
under the age of 18 between
January 1, 2002, and June
2007, and again between
September 1, 2001 and Feb-
ruary 28, 2007.

Carlson Shurland is rep-
resenting the 48-year-old
former school teacher of the
Bight Mile Rock High
School.

McMasters told the Court
that Birbal was one of two
art teachers at the school.
He said Birbal’s classroom
was located in the back of

the school campus near the
basketball court.

He said there was wallpa-
per on the windows in Bir-
bal’s classroom. The win-
dows were never opened
and you couldn’t see out-
side. McMasters also
recalled that the heavy
wooden door of the class-
room had one lock on the
outside and three additional
locks on the inside.

McMaster said the first
encounter occurred in the
classroom during the last
period when he was alone
finishing his work.

He said Birbal asked him
to open his mouth. He said
Birbal held his jaw and
asked him, “Why after all
this time you ain’t get your
mouth fix?”

According to McMasters,
Birbal went to his car and
got a big camera out of the
trunk. He returned to the
classroom, locked the doors,
and starting taking pictures
of him smiling.

He said Birbal then start-
ed unbuttoning his shirt. Bir-
bal moved his hand away
and continued to take off

McMaster’s shirt, his under-
shirt, and then his pants.

He said the art teacher
took more pictures of him.
After the sexual encounter,
McMasters said he blacked
out and remembers waking
up after being wet up.

McMasters was very emo-
tional, pausing, and even
shaking at times while giving
his testimony in the witness
box, prompting Justice Lon-
gley to ask whether he need-
ed a break.

At one point he bent
down behind the witness
box, and was told several
times by the judge and pros-
ecutor to speak up.

McMasters said after wak-
ing up he ran home and
went to the bathroom. “My
hip was wet and sat on the
toilet to stool because my
belly was hurting, but I
could not stool,” he recalled.

He wiped himself with tis-
sue and saw some “white
stuff” and blood, and felt a
burning in his hip.

McMasters said after the
first ordeal Birbal put $50
in his hand.

He said Birbal continued

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to have sex with him over
the years and he became
used to it. Birbal would
force sex on him when he
tried to resist.

McMaster testified that
Birbal sometimes used con-
doms. He also used lubri-
cants,

McMasters said he was
afraid to tell anyone because
of the embarrassment of
being called a sissy, and get-
ting “cut ass” from his moth-
er.

Birbal gave McMasters
money, and had even got his
church folks to donate
monies for braces for
McMasters’ teeth. He also
bought him an MP3, and
would give him groceries
from his apartment to take
home.

McMasters said one time
Birbal picked him up for a
dentist appointment and
took him to Deadman’s
Reef in West End. He said
Birbal parked his car on a
track road.

“He hold my hand and zip
down his pants... and tell
me to suck his things,” he
told the court.

When asked by Mr Arm-
brister what he meant by
“things,” McMasters
explained.

He also recalled an inci-
dent at Birbal’s apartment.
Birbal went to the bathroom
and came out naked and
had sex with him.

While there, he said Bir-
bal showed him some boys
having sex on the comput-
er. He also saw photographs



CHARGED: Andre Birbal

of other boys, including him-
self, that were stored on a
computer memory card.

McMasters said when he
asked Birbal who the boys
were, Birbal told me that
there were other boys he
was seeing, but he could not
tell him who they were.

He said sexual intercourse
was very uncomfortable, and
painful especially to his
stomach and hip. There was
also the feeling of not being
able to stool.

When Armbrister asked
McMasters if he could rec-
ognize Birbal, McMasters
said Birbal was sitting in the
court, wearing green
trousers, white striped shirt,
and jacket.

Under cross-examination,
Carlson Shurland asked
McMasters when he first
reported the incident.

McMasters said he report-
ed the incident to police
after he had graduated from
school in 2007. He said he
also told his father that Bir-
bal had raped him.

Mr Shurland asked
McMasters if Birbal was the
only persons he had sexual

intercourse with, and he
replied, “Yes.”

He said Birbal had sex
with him one time after he
had graduated, and he
destroyed his cellular phone
so that Birbal could not have
contact with him anymore.

Do you have HIV? asked
Shurland. McMasters said
he did not, but that he
thought he had the disease
and had told the police offi-
cer Brown that he had HIV.

He said he also told the
principal, but Birbal denied
it. He said the principal did
not believe him and so he
said he lied because he was
fed and people were telling
him what to say.

“In 2009 ...you met Troy
Garvey who told you you
could make a lot of mon-
ey?” asked Shurland?

“Not that I recall,”
McMasters replied.

“Tt is your intent to bring a
civil suit against the Ministry
of Education?” Shurland
continued.

“No, I don’t,” answered
McMasters.

The trial continues on
Tuesday.

US relaxation of Cuban travel ‘won’t
affect Bahamas in the short term’

FROM page one

groups and students to travel to Cuba. How-
ever, the US still maintains its long-held trade
embargo with the Communist island.

"It's in humanitarian interest and something
that has been talked about for a long period of
time.

“T have no concerns to those kinds of devel-
opments, but it is something that is obviously,
were it to go much farther than that, will have
a significant impact on our business in the
short-term," the tourism minister said when
contacted by The Tribune for comment yes-
terday.

"I don't think it will (have an impact) in the
short-term because it's really limited to a spe-
cific category of travel."

The new relaxed measures are seen as part
of the inevitable opening up of Cuba for
American travel, a future possibility that could
increase competition for the US market. Cur-
rently Americans account for more than 80

per cent of the Bahamian tourist market. Mr
Vanderpool-Wallace said this is one of the
reasons that his ministry is focused on brand-
ing each of the family islands as different des-
tinations in an effort to make the Bahamas
more appealing.

"In very simple terms, part of the reason
that we are developing the Bahamas to go
beyond Nassau and Paradise Island is to pro-
vide more products for the travelling product
as opposed to them perceiving us as having
just a singular product in the Bahamas.

"So the faster we can get the air connec-
tions to all the other islands and get those oth-
er island destinations established, we then find
ourselves with many more products to sell to
be more competitive compared to where we
are today. That is all related to us being more
competitive for that eventual day."

Last week, Mr Obama said he would instruct
the relevant American government agencies to
allow certain groups — religious and students —
freedom to travel to Cuba.

Police confident of solving murders

FROM page one

Williams was found near the
OK Bar on East and Hay
streets sometime before
midnight with multiple gun-
shot wounds.

At yesterday’s press con-
ference, assistant commis-
sioner Leon Bethel, who
heads the Central Detective
Unit told the media that
they are probing a number

of leads into the shooting
death of Inderia Barry, who
was shot in the head on Sat-
urday morning. He said that
they have obtained the help
of a pathologist and a foren-
sic scientist to assist them in
their investigation.

The two other murders on
Sunday, he said, are expect-
ed to be “wrapped up” very
shortly.

Commissioner Greenslade
commended his officers for

their hard work and com-
mitment to their jobs, point-
ing out that in 2010 they
charged 87 persons and con-
tinue to make arrests every
day.

“Tt is our intention to
maximize to the fullest all
of the resources entrusted
to our care. You can expect
to see a more robust and
presence response from the
police force in the future,”
he said.

Residents braced for ‘severe weather’

FROM page one

was forecast to affect Bimini, however the tiny
island was later dropped from the weather
advisory.

Residents in affected areas were warned
to stay indoors and away from windows as a

precaution against possible water spouts, small
tornadoes, hail, and localized flooding.

Boaters were also advised to remain at port
until weather conditions improved.

Up to press time, meteorological officials
had extended the warning to 7.50pm, when
the last of the system was expected to pass
into the Atlantic Ocean.

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





Bahamas eyes
1500 visitor
boost in ‘12

By ALISON LOWE
Business Reporter

Tourism officials have
welcomed news that the
Bahamas will host the
Caribbean’s biggest
tourism trade show -
Caribbean Marketplace -
in 2012, with the expecta-
tion that it will not only
bring around 1,500 extra
visitors to Nassau but also
give the country a chance
to showcase its tourism
offerings to buyers and
global media.

The Bahamas was con-
firmed as the venue for
Caribbean Marketplace
2012 as the 2011 event
opened in Montego Bay,
Jamaica, on the weekend,
where stakeholders from
the Bahamas and across
the Caribbean gathered to
do deals in the tourism
industry and assess the cur-
rent environment.

In an area with 3,000
hotel rooms in the immedi-
ate vicinity of the event,

which is taking place at the

brand new Montego Bay
convention centre, and
2,500 rooms in the sur-
rounding areas, president
of the Jamaica Hotel and
Tourism Association,

Wayne Cummings, said the

decision to host the event
in the tourism-dominated
province has ensured that
“every hotel bed of note is
occupied” at present in
Montego Bay.

Around 1,300 delegates
have registered for the

ple in total have come to
the area due to some level

SEE page 5B

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

Damianos



THE TRIBUNE

usiness

TUESDAY,

: By NEIL HARTNELL
Tribune Business Editor

Marathon Bahamas gen-

i erated a “significant” 2,500
? extra room nights for the
? Bahamian hotel industry
: during one of its slowest
i periods, the event’s lead
: Organiser said yesterday,
? telling Tribune Business it
? had “just scratched the sur-
i face” of its commercial
i potential.

Franklyn Wilson, who is

: also chairman of Sunshine
i Insurance, told this newspa-
; per the Bahamas had an
? Opportunity “to get tremen-

SEE page 5B

By NEIL HARTNELL
: Tribune Business Editor

A leading Freeport attor-

i ney yesterday said he had
i been approached by various
i Grand Bahama Port Author-
i? ity (GBPA) licencees to initi-
? ate Judicial Review proceed-
i ings against Customs over the
? ‘bonded letter’ controversy,
i telling Tribune Business the
i revenue collection agency
i “does not have a leg to stand

on” based on his review of

i existing statute law.

While noting that his opin-

SEE page 4B

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JANUARY :

2011

Marathon’s 2500 nights
put hotels on fast track

_ Mi Sunshine chief says ‘significant’ boost for tourism industry at one
Alowe@tribunemedia.net 7 of slowest periods
: i Says Marathon Bahamas has ‘just scratched the surface’ of

_ economic potential, and ‘sky's the limit’

_ Hi Race and Susan Komen event get ‘really influential and impactful
2 people thinking about the Bahamas’ for economic spin-offs



CUSTOMS ‘DOES NOT HAVE
A LEG 10 STAND UPON’

_* Leading attorney approached to

_ initiate action against revenue collector
event, and up to 2,000 peo- 2 over NIB ‘bond letter

_ * Argues Freeport being subject to

- ‘regulatory strangulation’ and ‘thrown
_ into chaos’ at worst time

_* Calls for ‘more efficient’ Judicial

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ete its hy eel)

Govt ‘nets’ $300k
through Business
Licence reforms

* Reduces tax rates to 0.5% for construction, hotels,
petroleum and food wholesalers, meeting concerns
but giving up $2m inrevenue

* Amends Act to give statutory appeals process

* Removes collected occupancy taxes from turnover

definition

* Pledges seven-day response to licence applications

By NEIL HARTNELL

Tribune Business Editor
and TANEKA THOMPSON

Tribune Staff Reporter

tthompson@tribunemedia.net

The Government is expect-
ing to earn a net $300,000 rev-
enue increase from reforms to
the Business Licence Act and
its taxes, a government minister
said yesterday, confirming that
the rates for industries such as
construction and the hotels had
been adjusted downwards by
0.25 percentage points to

reflect their concerns.

SEE page 4B

ZHIVARGO LAING



BISX TARGETS FIRST QUARTER FOR
SECURITIES DEPOSITORY END

By NEIL HARTNELL
Tribune Business Editor

The Bahamas Interna-
tional Securities Exchange
(BISX) is “on target” to
complete the implementa-
tion of its Central Securities
Depository (CSD) in the
2011 first quarter, its chief
executive told Tribune Busi-
ness yesterday, adding that it
would “go a long way” to
raising this nation’s finan-
cial profile.

“We have set a target date
for the substantial work to

Facility to ‘go a
long way’ in
raising Bahamas’
financial profile

be completed, and have it
functional, if not near func-
tional, during the first quar-

ter of this year,” Mr Davies
told Tribune Business of the

SEE page 4B

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PAGE 2B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





COLLEGE OF THE BAHAMAS



VITAL TO THE FUTURE: The front entrance of the College of the
Bahamas.



new national stadium.

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WORK IN PROGRESS: Progress continues on the construction of the

Major investments that
need right foundations

BY LARRY GIBSON

arly Saturday

morning, I had

the opportunity

to drive through
the Oakes Field area and was
captivated by the imposing
presence of two structures. The
first was the Harry C. Moore
Library and Information Cen-
tre on the grounds of the Col-
lege of the Bahamas (COB),
and the second was the Nation-
al Stadium virtually next door.
My mind readily concluded that
these two superstructures will
form the foundation of our edu-
cational and sports policies,
respectively, for many years to
come.

Importance of COB

I fundamentally believe that
growth and the transformation
of our economy is inextricably
tied to our ability to produce a
well trained workforce. A
workforce that not only pos-
sesses the skill-sets required by
industry today, but a workforce
that is sufficiently trained to be
adaptable and capable of being
retrained for future demands.
Studies have long confirmed
that a trained and educated
workforce leads to increased
productivity and innovation in
this ‘new economy’. It is no
longer about producing bodies
for the workforce but, rather, it
is about producing productive
workers who provide value-
added benefits to employers.

These are the shoes that
COB and, to a lesser extent,
other fully accredited tertiary
institutions must fill. I would
encourage my readers to visit
COB’s website:
http://www.cob.edu.bs/ and
download and review the doc-
ument entitled College to Uni-
versity — Strategic Plan 2009-
2019. It is an excellent and com-
pelling document that outlines
how a University of the
Bahamas (UOB) intends to
make its contribution to nation-
al development.

The following excerpt from
the strategic plan sums up
COB’s proposition: “Across the



world, prosperity is increasing-
ly linked to national capacity
to meet global challenges, to
innovate and develop new
products and services. Nations
now look to their universities
as places where talented
researchers, students and entre-
preneurs work together to
develop products and services,
which later become new busi-
nesses and new social policies.
In Latin America and the
Caribbean, it has been estimat-
ed that 85-90 per cent of knowl-
edge is generated by universi-
ties. The University of the
Bahamas will be a driver of
innovation, developing prod-
ucts and processes which lead
to a substantial improvement
in those products and processes,
to the benefit of public and pri-
vate sectors.”

Concern

However, one significant
concern I have is the fact that
our basic education system at
the primary and secondary lev-
el is in need of a major over-
haul. For COB/UOB to suc-
ceed, we need a public educa-
tional system that produces
quality feedstock. Are we pre-
pared to open COB to large
numbers of foreign students
and provide financial aid in
order to maintain the required
quality of incoming classes?
Diversity is a desired quality in
college environments, and we
seem to understand this argu-
ment well when it comes to our
children getting spaces, finan-
cial support and other oppor-
tunities at institutions abroad.

Financial

ia eum alee!

But have we opened our minds
to the benefits of international
students at COB?

Simply put, we must produce
sufficient high school graduates
who can meet the requirements
to gain admission into - and
succeed - at COB or any quali-
ty tertiary level institution. We
all know that our basic educa-
tional system is broken, yet we
continue to deny this and are
quite content to apply band-
aids to a ‘gaping and very
infected wound’ every couple
of years. This is not good
enough. I don’t want to give
the impression that I am being
unfair on the public system. For
many years now, I have ques-
tioned why the parents of so
many private school students
have to pay for extra-tutoring in
mathematics, sciences, lan-
guages (including English) and
so forth, on top of the $4,000
to $17,000 per annum that pri-
vate high schools charge.

We really need to ask our-
selves some very fundamental
questions about the state of
education in our country today.

National Stadium

The enormity of this com-
plex caught me by surprise.
When the entire Queen Eliza-
beth Sports Centre (QESC) is
completely developed, we will
have something that is truly
amazing for a country of our
size.

However, what is needed to
augment QESC is a dormito-
ry/residential complex. I under-

stand that a key component of
the master plan is the hosting of

regional and international
events. However, we are not a
destination that has an abun-
dance of $50 per night rooms.
The business plan for the
Atlantis’s and Baha Mar’s of
this world does not contemplate
the ‘four to a room, $50 per
room, per night crowd’, hence
my call for a residential com-
plex.

The obvious operator of such
a complex would be COB’s
School of Hospitality, which in
addition to being adjacent to
QESC, already has the restau-
rant facilities and commercial
kitchens in place. Therefore, it
may be necessary to make addi-
tional public investment before
the existing project has a
chance of being financially
viable, notwithstanding the Chi-
nese donation of the facility.

Furthermore, I reckon that
the annual upkeep/maintenance
bill alone will be about $2-3 mil-
lion per year. Where is the rev-
enue going to come from to
support the operating cost of
this facility? How much rev-
enue can we reasonably expect
to generate from the stadium?
Also, nobody is talking about
the cost of infrastructural devel-
opment that the Government
must bear in and surrounding
the stadium. Do we have a final
cost on these? These are but a
few questions that readily come
to mind.

Until next week...

NB: Larry R. Gibson, a
Chartered Financial Analyst, is
vice-president - pensions, Colo-
nial Pensions Services
(Bahamas), a wholly-owned
subsidiary of Colonial Group
International, which owns
Atlantic Medical Insurance and
is a major shareholder of Secu-
rity & General Insurance Com-
pany in the Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to
Larry. Gibson@atlantichouse.co
m.bs

BFSB hosts tax seminar

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The Bahamas Financial Services Board
(BFSB) and the Association of International
Banks & Trust Companies (AIBT), in partner-
ship with Deloitte & Toiuche, Ernst & Young,
KPMG and PricewaterhouseCoopers will host
a half-day roundtable today on key US tax ini-
tiatives impacting cross border financial services.
A particular focus will be the Foreign Account
Tax Compliance Act (FATCA) provisions, now
a part of the US HIRE Act.

FATCA is a major move in the US tax
enforcement focus on so-called ‘offshore’ issues,
requiring information reporting about offshore
assets that is backed up by penalties. Foreign
banks must either agree to disclose information
about US investors or be subject to a statutory
withholding regime.

Focused

The Internal Revenue Service (IRS) has said
the 2001 Qualified Intermediary (QI) system is
not without its limitations, being focused mainly
on ensuring that withholding tax relief is appro-
priate, and with almost no detailed information
flows from the QIs to the IRS about the identity,
income or overall tax position of any account
holder.

Not all foreign financial institutions choose to
be a QI.

IRS commissioner Douglas Shulman has
described FATCA as “the most important devel-
opment in international information reporting
in a generation. It is a big step forward in our
efforts to reduce tax evasion by creating trans-
parency and accountability in the offshore finan-
cial markets”.

The four majort accounting firms are jointly
coordinating the BFSB roundtable discussion
that will focus on compliance implications in the
new environment.

The BFSB hopes members will be empow-
ered to review/grow services to non-US persons
who have a US connection, as well as US clients

who increasingly are looking at diversification
of portfolio and currency positions, and overall
risk management.

The Presenters will be representatives from
the sponsoring firms:

* Lawrence Lewis, partner, Deloitte
(Bahamas)

* Jun Li, tax senior manager, Ernst & Young

* Joy Tegtmeyer, director-international tax
services practice, PricewaterhouseCoopers

* Melinda T. Schmidt, director, KPMG LLP

Lawrence Lewis has more than 16 years of
professional experience in public accounting, risk
advisory and management consulting services.
He leads Deloitte's enterprise risk services prac-
tice, and serves as the FATCA programme leader
for the Bahamas.

Jun Li Jun is a New York-based senior man-
ager in Ernst & Young's national financial ser-
vices asset management tax practice. He has
experience in the fmancial services industry, serv-
ing asset management clients in the areas of
hedge funds, private equity and international
banks.

Melinda T. Schmidt provides advisory services
to domestic and foreign financial institutions
with a focus on US tax information reporting
and withholding requirements.

Joy Tegtmeyer practices in the firm's New
York office. She has been with PwC for over six
years, serving primarily financial services clients
msuch as banks, broker dealers, alternative
investment funds, mutual funds and investment
managers. She advises clients in addressing inter-
national tax matters such as tax planning for
cross-border acquisitions, dispositions, and reor-
ganisations, withholding taxes, permanent estab-
lishment issues, treaty interpretation, global effec-
tive tax rate planning, controlled foreign corpo-
rations, passive foreign investment companies,
and effectively connected income.

The event will be held in the Governor's Ball-
room of the British Colonial Hilton Hotel.



THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 3B





IED ae rrelita me ceraik

for BFSB summit



Taxation policy as
it relates to Interna-
tional Financial Cen-
tres (IFCs) will be
one of the key areas
of discussion at the
Bahamas Financial
Services Board’s
(BFSB) Internation-
al Business &
Finance Summit,
scheduled for Janu-



SIMON BECK

BRIAN SEGAL

benefits that are on the negotiation table for small IFCs, what
taken by IFCs today.

ica, Canada and the US.

and financial centres. His practice also includes US federal and
international securities and banking regulations.

ry, legislative and strategy issues, and regularly conducts training

matters, particularly in the cross-border area.

including planning, documentation and audit defense.
Melinda T. Schmidt is a tax director at KPMG , where she pro-
vides advisory services to domestic and foreign financial institutions,

such as IRAs and education savings.

meet a variety of Bahamian service providers.
BFSB chief executive Wendy Warren said that having deter-

responsive to client and market requirements.

as a leading international centre for business and finance,.”

IBFS, as its precursor event, spurs discussion and debate about }
the industry with a focus on trends and the future. Armed with this
: £100 (US$154) to £150
i (US$291) for premium

“With clarity of objectives, the jurisdiction has a better oppor- economy, business and first-

knowledge, the Bahamas is better positioned to be nimble and
responsive.

tunity to succeed,” said Ms Warren.

i By ALISON LOWE
ary 21-23 in Freeport. Panelists involved in the tax developments | Business Reporter
session will discuss the main principles that drive the tax policy and { Alowe@tribunmedia.net
negotiation of Double Taxation Agreements (DTAs) by key G-20

countries. Comparing and contrasting DTAs, they will review the :

MONTEGO BAY,

| [ 4 i Jamaica - The Prime Minis-
this promises for the next 10 years, and what action should be } ter of Jamaica threatened

Panelists include Simon Beck and Brian Segal, partners at Bak- 7 ie See siren
er & McKenzie, along with Melinda Schmidt, director of KPMG. ath 7 ied Kana
They will look at these issues from the perspective of Latin Amer- } 4M the United Kingdom on
i Sunday evening in the lat-

Baker & McKenzie partner Simon Beck is an international tax i est development over a pas-
and trust lawyer with vast experience working in the world's trust }
i ened British
i arrivals.

He advises financial institutions and governments on regulato- }

senger tax that has threat-
tourism

The Air Passenger Duty

sessions for executives on trust, tax, banking and securities issues CED) tas which Bahariian
Brian Segal is a partner with the law firm of Baker & McKenzie, : Minister of Tourism, Vin-

practising in the firm’s Toronto office. His specialty is income tax cent Vanderpool-Wallace

: has previously condemned

He has been involved in transfer pricing strategy and dispute res- } aS unfair, went into effect

olution, handling all phases of pricing matters over the years, }
: government sought to find
: ways to collect much-needed
: : ms, ; revenue.

with a focus on US tax information reporting and withholding }
requirements. Her focus includes the QI program and FATCA, and i + gions have been grouped

withholding and reporting requirements for tax-favoured accounts, into different “bands”, and
The Summit has been designed to encourage and empower ; the Caribbean - including
business development in the Bahamian financial services industry. | the Bahamas and Jamaica -

It will also profile the Bahamas to international advisors and } have found that passengers
clients attending the event, providing them with an opportunity to ;
i? now being asked to pay
i more tax to the British gov-
mined the Way Forward through its strategy development process, } ermament than those visiting
the organisation is encouraging industry stakeholders to work : the US.

towards creating the environment required to be a jurisdiction }

earlier this year as the UK

Under the tax, different

coming to the islands are

New APD rates came into

Ms Warren said of IBFS: “It serves to achieve the two primary ; ees 1 at 2

roles of BFSB: the development and the promotion of the Bahamas

i (US$77) to £75 (US $115)

for economy-class travellers
to the Caribbean, and from

BAHAMAS HUMAN RESOURCES
DEVELOPMENT ASSOCIATION

‘Igniting a Passion for the HR Profession’
Executive Team 2010-2011

Annette Cash = President

class passengers. The
Bahamas and the Caribbean
have been lobbying the UK
government to reconsider
the tax, saying it will hit hard
UK tourist bookings to their
islands.

Speaking at the opening
ceremony of the Caribbean
Marketplace tourism trade
show in Montego Bay,
Jamaica, on Sunday evening,
Prime Minister of Jamaica,
Bruce Golding said his gov-
ernment “still maintains (the
APD) is manifestly unjust
to the countries of the
Caribbean” and _ has
“worked hard to impress on
the UK government that it is
not fair”.

Mr Golding himself, along
with other regional leaders,
have personally travelled to
the UK to lobby the British
government on the issue.

“Making supplications
and going to London plead-
ing are not the only options
we have. There are other
options the Caribbean may
have to consider against
something which we believe
may be in conflict with
established global trading
standards...No option will
be left off the table. Let it
be understood, we will
secure justice in this matter
one way or another,” said
Mr Golding, in comments
which most took to mean
the Caribbean could lodge
a complaint with the World
Trade Organisation (WTO)

against the tax on the basis
that it is discriminatory.

Mr Vanderpool Wallace
had no immediate comment
when asked to respond to
Mr Golding’s statement that
evening, but he has previ-
ously said the Bahamas sup-
ports Caribbean efforts to
push the UK government to
reconsider the matter.

The Bahamas is not as
reliant on UK tourist
arrivals as Jamaica, but such
visitors do traditionally
spend longer in the country
than American visitors,
meaning that those who do
come generally spend more
money in the country.

In an interview with Tri-
bune Business yesterday,
Jamaican Minister of
Tourism, Edmund Bartlett,
sought to downplay his
Prime Minister’s comments,
telling this newspaper the
UK is expected to make an
announcement on a review
of the tax in March.

Trade dispute hint
a over UK’s air tax

“We don’t want to go in
with the big stick first,” he
quipped. “I think we want
to go easy on that because I
think the UK government is
looking at a review. They
are expected to make a
statement on APD reforms
in March, and there is quite
a bit of speculation as to
whether APD will still be in
existence or it will be some-
thing else.

“What is clear is that their
desire to have £3.8 billion
pounds remains. What we
have been tying to drive
towards is a design change
that will allow the destina-
tions to be re-banded so that
the destinations of the
Caribbean will not be put at
a disadvantage, let’s say,
against the US, while at the
same time recognising the
need the UK has to reduce

the debt.”





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Invites qualified applicants for the following position:-

TRADER

Jets Cah wo ichectod Preaihens. Anes i possionaie abrat the Humem Kiewroress Pek and me an aadlwn-
cane for people development. She believes in the mii that "sooces: hb mole utilization of the abilike
you borer.” Annette sere ga Manager, Human Keseerses 2 TL ronning al Hirnk of 1b Giabeomas. Her cancer
spams more than lL pears of HE experenice. She bolls a Bachelors Degree in English from the Uaiversin
of the Wieret Bodeee aed a Mioxtere Degen in Human Peesources agement Grom the Uniweraiy of Mon-
chester, Manchester Englamd. She is also a trdined wacher. Annetie is raeried 40 Darron B. Cash and they
have one som, Jonathan.
Cheryl Bain - Vice President, Programs EDUCATION AND EXPERIENCE:-
Chant Hain ove coon Viet Preeken, Programs. It
thened fer education ai Shaw College. “Tora, Canach, She holds a diploma om Busines.

Bain aterded Bahamas Baptist College and fer
ae -At least five (5) years trading experience,
-In-depth knowledge in trading:-
World-wide Shares
Third party funds
Bonds
Options
Futures
-Ability to speak'write French would be an asset.
«Bachelor's Degree m Finance or related subject.
-Series 7 certification.
-Profictency in a vanety of software applications including Microsoft Ottice Suite.

tethen. Chem! is ako o corified Peofeeional Resume Writer ACK) Ms. Bains poodewd oma
purreds over 2) years, hoving sereed in semen moragemecrt capacities al inte Areercon Irewranee Liom-

Caiecr ce

a pany aid Manulife lnsiunce (nee Colina lasimance) Ms. Bain is preenily employed as Celice Manaps
j gel A at the law fiom of McKoy, Bancrofi & Hughes where che has been empkeved fer the past 05 pears

Marisa Mason-Smith — Vice President. Education

Marisa Mason-Sorh eras elected Vice Preadens tor Bducation. She is a dynamic motivasonal trainer and
facilitator and strmgly believes in developing people, She bolds a GeSe, oe feboreegermeet aed HAM fren
Florida Aulantic Unewersiny aid a Masters Degree i Hien Reson

of Manchester, Manchester, England. Marne has represeeied The Bakers af ecreral international confer

cet Development from dhe Universiry
enees and seminars. She i also a past preident of PERO. Marisa ounenth bolls che prestigics national
ile of “Hows of The Yes” ard serves as Mlomager for Homan Resourcm al Training af the Haharrers Elec.
incwy Corporation

Rachel Rolle — Vice President, Public Relations

ar Kachel Rolle woe elecied Voce Preadent, Publc BKelations, She bok a BEA mm Persone! Management
‘ fron Placid leterored Univerty and a W5c.in HR. Mana pester! from Nova Souheastem Ueivernity
mm aiditinn Ge aeveral ciher certificrtes, Her career in HR gpans ower bh years both, locally and priermatina-
ally i maigger Gor HR. and Traitsng oad Developement. ci pericieced rains al obecator abe: ba also
creght of aereral terry institutions, Hache! cumemily sarees a Manager, Mena ot dw Mosc Apert Dh-
Pdlopment Crenpoey. Rackel is a eolunteer Literecy Toter and acter who's kad for ber rocket oe slag a RE
he Launadas

UIRED SKILLS:-

Villiemae Black - Vice President Membership

-Ability to work independently,
-Strong organisational skills.
“Commitment to excellent customer service,

Williemae Black was elecied Vice Presiden, Membership. She belleves thai "people are our mast imporian
rani” Willis bee over DD) oars of eetperecact in HE. She serves os Adee!) Mangeer, Homan Ke-
somes al the Bohamas Llectocity Compommon. Vilbemee bolts a Hachelor: Degree in Psy chology from
Rethine Conlin College. She ako bolls a Masten Degree mm Haman Sovicss from Nova Univer an
MEA trem the Ueive

wersaty. She has o som.

-Must be a team player.

-Excellent oral and written communication skills.
-Excellent problem solving skills.

-Ability to work under pressure and to meet strict deadlines.

oer of Miami, and acenifeoate in HR Adin ettion from Flora Ineeniatronal Lai

Chrishyn Benjamin - Secretary

t

Alanna MectC*artney - ‘Treasurer

i

Chosen Fenpenin waselected Sector. Chnelyn, i Managerot Humen Resarencecs at the Sandilands He-
hablar Cente: and has worked a HE ace WS in everal powerement minisine She has a pongion
ber the eouth of this gation aed serves on the emecgtive team of the | a5 AT. boundatiog. She bokis.
a Bachelor depres i Hic Meg emcel_ a later of Science De gees im Homan Reson Managemen!
hen feo Sarotheasiem Leiverenty, ane a cerca mm HE Acdminatracon trem Hiomids betrayed |! m-

Please hand deliver Resume and two (2) references to:-

The Human Resources Manager

Bayside Executive Park
Building No. |
Nassau, Bahamas
ped, brings a 4 APPLICATIONS MUST BE RECEIVED BY FRIDAY, JANUARY 28, 2011
See a ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED
corm Carding at Pembeoke. Her cancer in HR
uiied. Techy she is the Senioe Méborosger.

Ferity. She is marreod and bers 40 sms

mesh perepecting: in the tase of Chrgan-

Human Reeoumecs

" med to Mir, Leen Mot anney amd they have
free chikinn

Offices in

Lousanae, Gene, Zurich, Decembourg, London, Mowtreal, Nexsaw, Singapare, Tokyo, Hong Korg,
Framkfiert, Florence, Milan, Madrid, Paris, Rome amd Turie

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





PAGE 4B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





CUSTOMS ‘DOES NOT HAVE
A LEG 10 STAND UPON’

FROM page 1B

ion was subject to any changes the Government might seek to
make to existing laws, and of which he was not aware, Fred
Smith QC, the Callender’s & Co attorney and partner, told this
newspaper that Freeport was being subjected to “regulatory
strangulation” at the worst possible time given its economic con-
dition.

Arguing that Customs’ move to link approval of GBPA
licencee ‘bond letters’ to production of National Insurance
Board (NIB) Letters of Good Standing had “thrown everything
into chaos”, Mr Smith said the move had deprived licencees of
their legitimate rights to buy bonded or duty-exempt goods,
depressing sales for Grand Bahama retailers and wholesalers.

Govt ‘nets’ $300k
through Business

FROM page 1B

was being heard, many feared continued damage to their firms ;

in the absence of a bond letter.

Efficient

Calling for a more efficient Judicial Review process in the }

Bahamas, Mr Smith said he was pleased to see the Grand

Bahama Port Authority “stepping up to the plate and sup- :

porting the rights of licencees”, following Tribune Business’s

publication last week of a letter by Ian Rolle, its president, to }

the Prime Minister urging that the NIB/bonded letter situation
be resolved.

“This is a partnership between the Government, the Port
Authority and the licencees, and I’m very pleased the Port

Authority reached out in this fashion to the Government,” }
Mr Smith said. “I do hope between the three partners there can }

be some resolution to the total chaos that exists in Freeport.

“Freeport continues to be in the economic doldrums, and we }
need flexibility for our businesses to continue to survive, not }

regulatory strangulation.”

Analysing the legal basis for Customs’ decision to tie ‘bond- }
ed letter’ issuance to NIB Good Standing, Mr Smith told Tri- }
bune Business: “From a legal perspective, Customs does not }
have a leg to stand on. There is no provision in the Customs }
Management Act, no provision in the Hawksbill Creek Agree- }
ment, and no provision in the National Insurance Act that }
allow Customs or NIB to act in this way. It is a complete }
breach of the Hawksbill Creek Agreement, and something }

serious needs to be done.

“T can say that I have been approached by a number of :
licencees to bring an action against Customs on this issue. }

Some are concerned about political intimidation and do not
want to be at the forefront, and others are uncomfortable issu-
ing proceedings.

“The problem with the inherent delay in the judicial sys- }

tem is they fear that if they do not obtain an NIB letter, their
businesses will be affected. This highlights the need for a more
efficient process in the judicial system.”

Mr Smith added: “I have already been critical of delays in the
Judicial Review process, which have been so prejudicial to the |
hearing of matters such as Save Guana Cay or Responsible }

Development for Abaco on the BEC Wilson City issue.

“T was very glad to see Mr Glinton was able to obtain a
speedier Judicial Review for the Heasties and the other people }
involved with the matter in Nassau. I hope Judicial Review is }

given the priority in the Bahamas as it is elsewhere.”

Asked about the problems the NIB/*bonded letter’ issue
had created for Freeport, Mr Smith said: “First of all, it creates
uncertainty in doing business and it throws everything into :

chaos.

“Secondly, it is depriving legitimate licencees of the oppor- :

tunity to purchase duty exempt goods that are much needed at
this time in Freeport for their businesses.
“Third, it is depriving retail sellers - Dolly Madison, Kelly’s

Zhivargo Laing, minister of state for
i finance, said that in adjusting the Busi-
: ness Licence tax rate downwards from
: 0.75 per cent to 0.5 per cent for four
industries - construction, the hotels,
: petroleum wholesalers and food whole-
salers - the Government would forego
: a projected $2 million increase in taxes.
: Speaking to Tribune Business after a
i press conference to announce the latest
: Business Licence Act amendments,
: which were unveiled to the business
: community at a Town Meeting last
? night, Mr Laing confirmed that among
; these were “adjustments to the rates
? we were determined to levy on four
: industries that expressed about the
: impact. We have made some adjust-
: ments to these rates, so there are no
increases of any significance whatso-
ever”. The construction industry has
already indicated its pleasure.

Mr Laing said the Government had
moved to reduce the Business Licence
taxes that would be paid by the four
industries to “what most of them would
: have been paying under the old
regime”.

: Emphasising that the Governmen-
: t’s intention behind the Business
i Licence Act reforms was not primarily
? to increase revenues, Mr Laing said:
: ‘The result of the new calculation
: means that some people will be paying
i less, some people will be paying more,
? but we always intended it to be rev-
? enue neutral. In the totality of the exer-
cise, I think it came down on a net
? $300,000 positive for the Government.”

The minister also confirmed that the
Government had amended the Act to
allow for a clearly defined appeals
: process, whereby a business denied a
licence could take the Revenue Sec-
retary’s decision to either the Business
Licence Review Board or the Supreme
: Court.

“We’re proposing amendments that
? will ensure people can appeal to the
: Board in one instance, to the Supreme
? Court in one instance, and decision of

and Bellevue Business Depot - from earning income on duty }

BISX TARGETS FIRST QUARTER FOR

The Callender’s & Co QC added: “Despite victory after vic- |

exempt sales.

“All around, it is a very bad and illegal thing that Customs has
engaged in, and the challenge for Freeport businesses is that
without an effective recourse to the courts, this raw abuse of
power by the executive, which interferes with licencees, goes
unchecked.”

tory against Customs and its abuses, Customs continues to }
ignore the judgments rather than treat them as applying across }

the board to licencees.

“The further negative repercussion for Freeport is that

prospective investors see that the rule of law does not exist in }

Freeport.

“Justice delayed is justice denied, and for Customs to hold

people to ransom is regrettable.

“Tt continues to create uncertainty in the business environ- ;

ment, and that is always bad for business.”

SAINT AUGUSTINE’S
COLLEGE

2011 ENTRANCE EXAM

The Entrance Examination for
students wishing to enter Grade
Seven at St. Augustine's College for
September, 2011 will be given
Friday, January 23°, 2077

Deadline for registration for this
examination is Friday January 22°59011

Eligible students
their Primary Schools or at
St. Augustine's College. ONLY
Students in Grade Six will be
allowed to sit the Entrance Exam.

may register at



“The result of the new
calculation means that
some people will be pay-
ing less, some people will
be paying more, but we
always intended it to be
revenue neutral. In the
totality of the exercise, I
think it came down on a
net $300,000 positive for
the Government.”



Zhivargo Laing

the Secretary for Revenue, yes,” Mr
Laing told Tribune Business. “That
was one of the concerns - that there
appeared to be no appeal of his deci-
sion, at least in law.”

Sharlyn Smith, an attorney with
Sharon Wilson & Company, told Tri-
bune Business last year that Section 7
in the Business Licence Act gave seem-
ingly "extremely wide" powers to the
Revenue Secretary to cancel, revoke or
suspend a company's Business Licence.

Expressing fears that this could be
used as a ‘victimisation’ tool, Ms Smith
added that the Act did not stipulate
for what period a company's licence
could be suspended, and pointed out
that the legislation'’s wording appeared
to not permit any appeal to the Busi-
ness Licence Review Board.

While this Board was to be formed
to hear all appeals against a decision
made by the Revenue Secretary, the
Act's wording only allows appeals
under sections four, five, 11 and 21 of
the legislation - not section seven,
which is what gives the Revenue Sec-
retary the power to suspend, cancel
and revoke a company's business
licence.

Meanwhile, Mr Laing told Tribune
Business the Government had also
amended the Act’s definition of

Licence reforms

He added, though, that many businesses were reluctant to }
turn to the courts for redress because of the often-lengthy pro- }
ceedings involved in Judicial Review hearings. While the case }

turnover to remove occupancy taxes
collected, a key concern of the hotel
industry.

“There is an amendment to the def-
inition of turnover that takes account
of the fact that occupancy taxes col-
lected not be counted as turnover. That
was one of them,” he added.

Mr Laing reiterated that the Gov-
ernment’s overriding objective was “to
make it easier to do business”, pledging
that under the reforms, once the appli-
cation form was completed and all oth-
er necessary permits (health, environ-
mental) were obtained, a new Busi-
ness Licence applicant would “hear
from us” at the Ministry of Finance
within seven days.

Businesses did not need to apply for
a licence renewal every year, instead
just file their annual returns, and mul-
ti-licence bureaucracy, such as the
Liquor Licence, Shop Licence and
Music and Dance Licence had all been
eliminated.

“We think we’re bringing some order
to the process,” Mr Laing said. “We
have a much simpler way to calculate
the taxes. I think we have made some
progress.”

The Government has also had some
success inits revenue collection strate-
gies, finding decades of arrears in busi-
ness licenses fees and real property
taxes,

"We think we're making progress in
areas where we believe we were not
as focused and as efficient as we could
be, not as much progress as we need to
make but we've been making some
progress. Next month we are going to
have the mid-year Budget exercise and
we are going to have a full-disclosure,"
said Mr Laing.

He noted that revenue collecting
officers recently put in place have had
success in netting the government out-
standing real property taxes on prop-
erties that were listed as vacant but
really had $14 million homes built on
them in some instances. The team has
also been successful in tracking down
businesses who have not paid license
fees in “decades”.

SECURITIES DEPOSITORY END



FROM page 1B

CSD’s status, when ques-
tioned by this newspaper.

“That is my stated plan,
and we’re still on target. We
have a plan, the plan is being
implemented precisely, and
so far so good. We are con-
tinuing.”

The CSD, which is jointly
owned by BISX, RoyalFi-
delity and CFAL, each hold-
ing one-third of its equity,
is a vital back office compo-
nent to the integrity and
smooth functioning of the

Bahami ital k
KEITH DAVIES ahamian capital markets,

NOTICE
SANDBERG LIMITED

NOTIC EIS HEREBY GIVEN as follows:

(a) SANDBERG LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced
on the 14th January, 2011 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

(c) The Liquidator of the said company is Blue Seas
Administration Ltd., The Bahamas Financial Centre,
Shirley & Charlotte Streets, Nassau, Bahamas

Dated this 18th day of January, A. D. 2011



Blue Seas Administration Ltd.
Liquidator



providing clearing and set-
tlement services for all share
trades, and maintaining all
shareholder registers. It will
do this electronically.

Emphasising that the CSD
would “reduce system risk”
associated with the clearing
and settlement of all listed
securities traded in the
Bahamas, Mr Davies said of
its benefits: “For me to
speak about increased effi-
ciency and speed, that is not
something the average
investor will immediately
notice.

Settlement

“The thing the CSD
brings to the forefront is a
finality of settlement, so
when a transaction occurs
you are assured that the
securities go from person A
to person B. You are
assured the monies related
to the transaction go from
account A to account B. A
CSD essentially reduces sys-
tem risk in the marketplace.
Once you have that finality,
it reduces the risk and
speeds up the manner in
which transactions occur. At
the end of the day, there is
no argument; the trade just
settles.”

Mr Davies told Tribune
Business the CSD would
also provide “higher securi-
ty for the beneficial owners
of securities”, maintaining
their “definitive ownership”.

“Shareholders have their
names appear on the regis-

ter, and there is no dispute
over who owns the shares,”
the BISX chief executive
said. “It makes the overall
market better for everyone.”

He added that it also sup-
ported other financial trans-
actions, such as the ‘pledg-
ing’ of securities as collater-
al to banks or other financial
institutions to obtain loans.
This would be recorded by
the CSD, protecting both
banks and share owners,
reducing their risk.

“These are the things that
countries are rated on inter-
nationally, and having some-
thing that is secure, modern
and electronic goes a long
way to increasing the finan-
cial profile of a country,” Mr
Davies told Tribune Busi-
ness.

Describing the CSD as
one of BISX’s major pro-
jects for early 2011, Mr
Davies said others included
the further development of
BISX’s Rules and the list-
ing facility for small Bahami-
an businesses with a market
capitalisation of less than $1
million.

As for other activities, Mr
Davies said: “We do believe
that this year will see some
activity we have not seen in
the past, so we look forward
to that in due course.”

The BISX chief executive
said the CSD’s implementa-
tion involved software, hard-
ware and database issues,
with the process aimed at
ensuring all three arrived
smoothly at the same place.

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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 Police confident of solving murders V olume: 107 No.46TUESDAY, JANUARY 18, 2011 PRICE 75 (Abaco and Grand Bahama $1.25 W EATHER PARTLY SUNNY HIGH 82F LOW 68F F E A T U R E S S EEWOMANSECTION S P O R T S An eye for fashion SEESECTIONE 11 qualify for Carifta W ITH four mur ders occurring over the weekend, Com m issioner of Police Ellison Greenslade assured the publicy esterday that the police are doing all they can to find the killers. M eanwhile, late last night police released the identity of recent murder vic tims. Calling a snap press conference at t he Paul Farquharson Conference Centre, Commissioner Greenslade said thath is team of officers have successfully cleared up several matters for the year thus far and are confident that they will bring a successful conclu sion to the remaining homicides, including many of those that occurred toward the end of 2010. Allow me to also say once again that while we are always saddened by the tragic death of our people the compelling evidence in many of these matters that we see is that they are occurring among persons involved in various lifestyles, including intimate r elationships; persons involved in the drug culture, revenge, ando ther contributing vices are major fac tors. Therefore, at the beginning of this year I wish to renew my call to all of our peo-p le to come together and help stem the tide of lawlessness, which, if not checked, has the potential to engulf segments of our communities and f urther erode the peace and safety of our country, he said. T he men killed in Sundays double homicide in the Kennedy Sub-division area were identified as Kevin Russell, 34, and Eamonn Hep burn, 21. Mr Russell, of Deliverance Way off Malcolm Road, was gunned down at Gilda Street and Mr Hepburn, of Baillou Hill Road, was killed at Gilbert Street. Police identified the man shot down at a Nassau bar on Friday as Terrence Williams, 36, of Flint Street. Mr Commissioner speaks out after weekend killings M cCOMBO O F THE DAY N E W The Tribune THEPEOPLESPAPER BIGGESTANDBEST L ATESTNEWSONWWW.TRIBUNE242.COM www.fidelitygroup.comCall 356.7764today! Get out of Debt Fast with a Fidelity Fast Track Debt Consolidation loan. Decisions Fast Money Fast Plus Visa Credit Card FastGetoutofdebt Fast! BAHAMASBIGGEST CARSFORSALE, HELPWANTED ANDREALESTATE I N S I D E SEE page 10 A THIRD person has been charged with the attempted murder of a Canadian tourist. Police have now charged Dino Price, 24, of Armbrister Street in Fox Hill, for attempting to murder Mitch Nimi. Nimi was reportedly stabbed several times in the chest, back and abdomen early on Christmas morn ing. Patrickedo Rose, 20, of Pine Barren Road and a 17-year-old boy of Springfield Road have already been charged with attempting to kill Nimi. Price, who was arraigned before Chief Magis trate Roger Gomez in Court One yesterday, is also accused of robbing Mintez Armbrister of a gold chain, valued at $1,000. The case was adjourned to January 25 and trans ferred to Court 5, Bank Lane. Price has been remanded to Her Majestys Prison. CHARGED: 24-year-old Dino Price at court yesterday. T i m C l a r k e / T r i b u n e s t a f f By TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net T HE United States have officially relaxed their travel r estrictions into Cuba, and while this will not affect the Bahamas' tourism industry int he short-term they are preparing for competitionf rom the eventual opening up o f its regional neighbour, T ourism Minister Vincent V anderpool-Wallace said. His comments came after U S President Barack Obama announced looser travel restrictions to the Communist Caribbean nation. T he new travel rules will allow American religious US RELAXATION OF CUBAN TRAVEL ONT AFFECT BAHAMAS IN THE SHOR T TERM SEE page 10 GRAND BAHAMA and Abaco residents braced themselves for heavy rains as weather officials posted a severe thunderstorm warning yester day. The Department of Meteo rology sounded the alarm for the two northeastern islands shortly before 4pm, due to a cluster of thunderstorms and showers over southeast Florida which were moving towards the area. Thunderstorm cells were said to have covered Grand Bahama, and residents report the entire island had been affected by torrential rain since 1pm. In Abaco, affected areas were said to be mostly north and central Abaco. Initially, the storm system Residents braced for severe weather SEE page 10 By DENISE MAYCOCK Tribune Freeport Reporter d maycock@tribunemedia.net FREEPORT The trial o f Andre Birbal opened on Monday in the Supreme Court with emotional testimony from one of the two male students who broke down in tears as he described the painful sexual ordeal he endured for some eight years at the hands of his art teacher. Godfrey McMasters said Birbal had sexual intercourse with him in his art classroom at the Eight Mile Rock High School, at his apartment, and in his car in remote locations. He said the alleged sexual MALE STUDENT GIVES EMO TION AL TES TIMONY IN TEACHER SEX CASE SEE page 10 THIRD PERSON CHARGED WITH ATTEMPTED MURDER OF TOURIST CONFIDENT: Commissioner G reenslade

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THE Anglican Diocese of the Bahamas and the Turks and Caicos Islands yesterday held a special thanksgiving service as parto f its 150th anniversary celebrations. Preaching at yesterday evenings service held at Christ Church Cathedral was Rev Alfred C Reid, Bishop of Jamaica and the Cayman Islands. The presence of the Anglican Church in the Bahamas can be tracedf rom the early beginnings of Bahamian history. After 1647, the Eleuther an Adventurers made the first settlement of the English after the islands had been more or less abandoned by the Spaniards who had eliminated the ear ly Lucayan population. It is said that the Eleutheran Adventurers included two Anglican priests who had left the church. At that time the church in all British overseas (colonial) territories came under the Bishop of London. In 1824, the Dioceses of Barbados and Jamaica were formed. The territories of the Bahamas and the Turks and Caicos Islands came under the Diocese of Jamaica. In 1861, the Bahamas and the Turks and Caicos Islands became a separate diocese called the Diocese of Nassau. Queen Victoria issued Letters Patent establishing the same on November 4, 1861. Dr Charles Caulfield was consecrated bishop on November 30, 1861. With the issuing of the Letters, the Parish of Christ Church was declared the Cathedral and the towne of Nassau was elevated to the status of city. In the British civil sys tem a towne could only become a city if it had a bishop and a Cathedral. Since its creation as a Diocese in 1861, the Diocese said it has intensified its ministries of pastoral care and education in con veying its mission in the Bahamian islands. From its earliest years, the church has established primary and secondary schools. The latter ones continued until the early years of the 1930s. On June 24, 1971, Michael Hartley Eldon was consecrated suffragan bishop with the title Bishop of New Providence. Less than a year later on April 20, 1972 the Diocesan Synod unanimously elected him as 11th Bishop of Nassau and the Bahamas, including the Turks and Caicos Islands and the first Bahamian Bishop of this Diocese. Similarly, September 1, 1996 the Rev Drexel Gomez, former Bishop of Barbados, succeeded Bishop Eldon as Diocesan Bishop; Bishop Gomez had been Bishop Co-adjutor of the Diocese prior to his elevation. Bishop Laish Boyd was elected Co-adjutor on June 29, 2006 and became Dioce san Bishop on February 8, 2009. To date, the Diocese has had 13 diocesan bishops. There have been two Suf fragan Bishops; two other Bahamians have been elevated to the episcopacy: the late Donald Knowles, Bishop of Antigua, and Rev Cornel J Moss who cur rently serves as Bishop of Guyana. L OCAL NEWS P AGE 2, TUESDAY, JANUARY 18, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM GOVERNMENT has signed a $325,120 contract for the refurbishment of Exumas George Town dock. A ddressing a contract signing c eremony in Exuma on the weeke nd, Minister of State for the Environment Phenton Neymour praised the Ministries of Works and Environment for putting t ogether the challenging project. M r Neymour said the projects e xisting risks were not recognised by many. In putting together the project s cope the Ministry of Works and the Ministry of the Environment have done their best to address those existing items. For example, we are going to put in place five 60-tonne bollards that are essential for the docking of large vessels so t hat the vessels can come directly n ext to the dock. We will also be including the d redging of silt away from the d ock that has diminished the availa ble draft of the vessels for the docking of this facility, he said. Additionally, a wall will be con s tructed that has the ability to withstand great forces that large vessels can exert, which result in damageto the existing facility, he said. M r Neymour was among a delegation, including Public Works and Transport Minister Neko G rant, who were in Exuma on the w eekend to sign a $325,120.30 con t ract with Reg McKenzie of R & F McKenzie Construction Co Ltdf or the refurbishment of the dock i n George Town. Minister Neymour said in 2007 he along with marine experts from a fuel company travelled throughout the Bahamas to perform a marine risk assessment to review t he safety of delivering fuel to various communities. During that assessment a number of items were recognised that were essential to improving the existing docking facility in Exum a, he said. Mr Neymour said he is happy that a native of Exuma has been awarded the contract because it is critical to continue to develop the skill base of Exumian contractors. We have the ability to perform great works here but we need the opportunity to do so, said Mr Neymour. We all recognise that there is a greater need in Exuma to expand our docking facilities and i mprove our existing ports. $325,120 contract signed for dock refurbishment PHENTON NEYMOUR Minister of State for the Environment, speaks to residents of Exuma during a contract signing ceremony for the George Town dock. Also pictured is the Public Works a nd Transport Minister Neko Grant, (seated from left; front row C olin Higgs, permanent secretary, Anthony Moss, MP for Exum a, and in the back row from left John Canton, director. P a t r i c k H a n n a / B I S Anglican Diocese holds anniversary thanksgiving service REV ALFRED C REID Bishop of Jamaica and the Cayman Islands, was welcomed at the VIP Lounge of the Lynden Pindling International Airport yes terday afternoon by Reverend Laish Zane Boyd, Sr, Bishop of the Bahamas and the Turks & Caicos Island Bishop Reid last night preached at the thanks giving service at Christ Church Cathedral for the 150th anniversary of the Anglican Diocese of the Bahamas and the Turks and Caicos Islands.

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By DENISE MAYCOCK Tribune Freeport Reporter dmaycock@tribunemedia.net FREEPORT Claiming that the rights of the countrys workers are being vio lated, president of the Trade Union Congress Obie Ferguson is calling on labour to present a united front and support the umbrella union. If you dont have a union in the Bahamas today, you are on your own because it is expensive for workers to fight the accused. So my simple message is that we need to unify, we need to identify what we are going to fight for, and we need to support every union in this country, whetherunder the TUC, NCTU (National Congress of Trade Unions), whatever. Whenwe fight for issues those labels must become sec ondary, said Mr Ferguson. He added: The right to work is a sacred thing. How can a fella come from the US and say you cant join a union, and say if you join they will fire you. What kind of nonsense is that? And then, government officials, ministers, they accept those things. Mr Ferguson, who is also president of the Bahamas Hotel Managerial Association (BHMA ically important for workers to support the labour movement. Employers in the Bahamas are all working together against one union.So when youre fighting the employer for any benefits, I want you to understand that you are not fighting that employer alone; you are fighting the employer in Nassau, Freeport, Andros wherever they are. That is the deal. So we have to work together in 2011 as a team, as a block. That is the only way you get attention by the government of the day. Mr Ferguson said the TUC has thrown its support behind the Bahamas Telecommunications Company (BTC Bahamas Communications and Public Officers Union (BCPOU Bahamas Communications and Public Managers Union (BCPMU against the sale of BTC to regional telecoms powerhouse Cable and Wireless. Visiting Grand Bahama this week, Mr Ferguson also revealed there is a tentative agreement for a new industrial contract for middle managers at the Our Lucaya Resort. He said the agreement was reached on November 19, and is now awaiting ratification by the hotels owners in Hong Kong. The agreement is framed and structured along the lines of the agreement that is in effect at the Sheraton Cable Beach in Nassau, he said. We are waiting on them to ensure that the workers get the agreement they are entitled to. And it is my intention to put it to them for ratification. LOCAL NEWS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 3 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM By PAUL G TURNQUEST Tribune Staff Reporter p turnquest@tribunemedia.net COMMISSIONER of Police Ellison Greenslade denied reports yesterday of an impending shake-up within the senior rankso f the force. Late last year, reports had been circulati ng that a number of top officers were set to leave their posts for more lucrative jobs as the heads of security at either the LyndenP indling International Airport or the luxurious gated community, Albany. Amongst those persons rumoured to be leaving were Deputy Commissioner of Police Marvin Dames, and three assistantc ommissioners John Ferguson, Willard Cunningham and Glen Miller. Addressing the matter at the Paul Farqharson Conference Centre at Police Headq uarters yesterday with his senior command present, Commissioner Greenslade said that h e and his team do not have the time or luxury to be concerned about rumours. Let me assure you, just as you see us assembled here this morning, we have a syne rgistic team despite what anybody else will tell you. And if you would wish to test it, you are free to do so. You may turn up at Police Headquarters at any given day and do some g ood investigative journalism. We fellowship often; we tell a lot of j okes, but we work hard. As the Commissioner of Police of the R oyal Bahamas Police Force I do not have any concerns today that I can express to y ou with respect to any disaffection among the members of this team. We are all brothers, and that is the way it will remain, he said. Deputy Commissioner Dames acts as Deputy to the Commissioner of Police and has specific responsibility over discipline, the forces inspectorate, district co-ordination and a list of other areas. M r Dames was rumoured to be considering a lucrative position at the Nassau Airport Development company as the new heado f the security unit there. ACP Ferguson, the head of the National P olicing Support Services, was said to be retiring at the end of January. However, Mr Ferguson is not yet of retirem ent age, as he will only be turning 56 on January 29, and has so far only served 37 years on the force; not the required 40. ACP Miller is in charge of the Forces Crime Management and Operations; andA CP Willard Cunningham has responsibility for the management of the forces Family Island Districts. Senior ranks shake-up is not impending Rights of workers being violated TUC president POLICE FORCE Police Commissioner scotches reports After producing Genera tions of Bahamian Culture, the 2010 corporate calendar featuring familiar personalities alongside new faces of The Bahamas visual and per forming arts scene, Colina Insurance Limited releases its 2011 calendar under the theme The Art of Charity. The calendar highlights the work of 12 local charitable organisations who, through service, have contributed greatly to nation building. From humanitarian aid and disaster relief to music edu cation and animal rights, the organizations featured in the calendar bring to light the diversity of non-profit groups at work to alleviate suffering in The Bahamas. Each organisations mission statement was used to inspire a graphic illustration by artist Theo McClain of local branding and advertising firm Kar ma Design The illustration was then paired with a quote that draws attention to the plight that the organization is helping to alleviate. Beyond its aesthetic appeal, the cal endar was also designed as a promotional tool for the featured organizations, and lists the dates of each organizations major fundrais ing events in order to boost interest, support and donations for their key initiatives. The calendar launched in December with a showing of the featured artwork and a silent auction of limited first edition prints. With art enthu siasts and patrons of the respective charities on hand, funds raised from the sale of the 12 pieces totalled $8,000 and were donated to each of the charities just before Christmas. This programme was an important opportunity for Colina to continue its celebration of key service orga nizations that make a difference in the lives of Bahami ans, says Melanie Hutcheson, Corporate Communications Officer at Colina. For the past 17 years our pivotal role in corporate social responsibility has been as organizers and presenting sponsors of the annual Red Ribbon Ball the largest fundraiser for the Bahamas AIDS Foundation. We proudly undertake The Art of Charity calendar as an avenue to provide organizations like the AIDS Founda tion and others with another opportunity to raise aware ness about the work they are doing in the community. The calendar features Rotary Clubs of Nassau (vol unteerism); Zonta Club of Nassau (advancing the rights of women); the Bahamas Scout Association (youth development); REACH (autism awareness); Bahamas Humane Society (ethical treatment of animals); Ranfurly Homes for Children (aban doned and neglected children); Bahamas National Trust (envi ronmental sustainability); Nassau Music Society (music appreciation and education); Bahamas Historical Society (historical preservation Bahamas AIDS Foundation (HIV/AIDS treatment, research and support); The Salvation Army (humanitarian aid); and The Bahamas Red Cross (disaster relief on the cover. Sales of first edition prints of artwork featured in The Art of Charity raise $8,000 for worthy causes POLICE COMMISSIONER Ellison Greenslade. OBIE FERGUSON CALENDARHIGHLIGHTSCHARITYWORK THEO MCCLAIN

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EDITOR, The Tribune. While I concede that the j udicial system is available t o bring the appropriate r elief to viable litigants, I m ust state, off the bat, that I hold that the announced litigation which has been comm enced on behalf of the u nions of The Bahamas T elecommunications Cor p oration, is premature and may well prejudice the goodwill of the general pub lic towards them. Litigation has its place in the scheme of things but at w hat stage? No Memorandum of Understanding has been presented to the gen eral public or pro-offered, so far, to Parliament for debate. Until this is done, there can be no legal basis for a Judicial Review. It is being argued, bogusly in my opinion, that the government of the day has no p ower to sell or to offer for sale The Bahamas Telecom m unications Corporation and/or its assets. There is a strict assumed s eparation of powers between the three estab lished branches of our system of governance: the executive; the parliament and the judiciary. Parliament is able, both by the Constitution and constitutional conventions to make any law that it seesf it and such laws, while they may be reviewed by the judiciary, cannot be chall enged, successfully, in a court of law. Yes, the imple mentation and the mode thereof may be subjected to review but not the sub stantive law itself. In the USA the Supreme Court has vastly different powers and may actually declare that a law passed by Congress and approved by the President of the day is unconstitutional. Such a scenario cannot happen in our system of jurisprudence. I do believe that the impacted unions and their hapless executives are being taken for a proverbial ride down the garden path. I would have advised the union, as I have done, to bide their time; cease and desist from inflammatory remarks; tone down their rhetoric and modify their public posture until the socalled MOU is presented to the House of Assembly. In t he meantime, if they are s erious, they should seek to put together a viable conglomerate with the appropriate proven resources to make a counter offer to pur chase majority control of BTC. I support some of the u nions positions but the tenor of their opposition is fast becoming one of regime change of the FNM and its leader. Has it now become a conflict between political opponents or what? In a few short months, those who oppose the FNM will have an opportunity to vote them out. In the meantime, however, dont seek to use the BTC fiasco as a means towards an end. To God then, in all things, be the glory! ORTLAND H BODIE JR Nassau, January 13, 2011. EDITOR, The Tribune. Everyone is well aware that we have an education problem here in the Bahamas. This issue strikes a chord with me personally as I am e xtremely passionate about children receiving good quality education. The blame game persists but who really is to be blamed? I believe wholeheartedly that education is not a one way street. Parents share a lane, teachers share a lane and the government shares another lane. Parents : Research has proven time and time again that a childs behaviour often reflects what they are learning in the homes. Children do learn what they live. They often imitate what they see and hear. Like sponges, they absorb things in their surroundings and apply them throughout the course of their l ives. Parents must take responsibility for their children and teach them morals so as to prevent them from becoming a nuisance to society. They ought to unleash potentials in their children and take time to teach them right from wrong, reprimand them when they stir up trouble and reward them when they excel. Education is key. Parents are the ones who ought to ensure that homework and studying takes place. They are the ones who must ensure that when darkn ess falls, all their children a re inside and not on some b asketball court playing or some corner wall smoking. It is when parents today become lackadaisical that the childrens education suffers. Parents must do their part. Teachers : I am currently enrolled at the College of the Bahamas and I believe beyond the shadow of a doubt that teachers do play a factor in this education dilemma. Knowing your subject is one thing and teaching it is another. Many teachers lack the ability to properly explain the lesson and sometimes the care to monitor the childrens progress. Mathematics has proven to be challenging subject, not only for children here in the Bahamas, but children all over the world. Most teachers do not know how to teach this subject. Mathematics is like a ladder in that you must climb one step at a time. W hen students do not understand one step and the teacher moves on to another, it is only creating a disadvantage for that student and many times interest in that subject will continue to decline. Teachers must do their part. Government : While one must concur that the government cannot be in the homes with parents to test their parenting skills and they cannot be in the classrooms to evaluate the teachers capability, they can implement programmes for educationally challenged students. Investing in human capital will fuel the engine of this economy. The government must do their part. FUTURE AMBASSADOR FOR EDUCATION Nassau, January 14, 2011. EDITORIAL/LETTERS TO THE EDITOR PAGE 4, TUESDAY, JANUARY 18, 2011 THE TRIBUNE The Tribune Limited N ULLIUS ADDICTUS JURARE IN VERBA MAGISTRI B eing Bound to Swear to The Dogmas of No Master LEON E. H. DUPUCH, Publisher/Editor 1903-1914 SIR ETIENNE DUPUCH, Kt., O.B.E., K.M., K.C.S.G., (Hon. P ublisher/Editor 1919-1972 Contributing Editor 1972-1991 E ILEEN DUPUCH CARRON, C.M.G., M.S., B.A., LL.B. Publisher/Editor 1972P ublished Daily Monday to Saturday S hirley Street, P.O. Box N-3207, Nassau, Bahamas Insurance Management Building., P.O. F-485, Freeport, Grand Bahama W EBSITE www.tribune242.com updated daily at 2pm PORT-AU-PRINCE, Haiti Former Haiti an dictator Jean-Claude "Baby Doc" Duvalier ensconced himself Monday in a high-end hotel f ollowing his surprise return to a country deep i n crisis, leaving many to wonder if the oncef eared strongman will prompt renewed conflict in the midst of a political stalemate. D uvalier met with allies inside the hotel in the hills above downtown Port-au-Prince and s poke publicly only through emissaries, who gave vague explanations for his sudden andm ysterious appearance nearly 25 years after he was forced into exile by a popular uprising a gainst his brutal regime. Henry Robert Sterlin, a former ambassador who said he was speaking on behalf of Duvalier, portrayed the 59-year-old former "president for life," as merely a concerned elders tatesmen who wanted to see the effects of the devastating Jan. 12, 2010, earthquake onh is homeland. Duvalier who assumed power in 1971 at age 19 following the death of his father, Franois "Papa Doc" Duvalier still has some support in Haiti and millions are too y oung to remember life under his dictatorship. But his abrupt return Sunday still sents hock waves through the country, with some fearing that his presence will bring back the e xtreme polarization, and political violence, of the past. State Department spokesman P.J. Crowley said in a Twitter post that the U.S. was surprised by the timing of Duvalier's visit. "It a dds unpredictability at an uncertain time in Haiti's election process." H is return comes as Haiti struggles to work through a dire political crisis following the p roblematic Nov. 28 first-round presidential election, as well as a cholera epidemic and a troubled recovery from an earthquake. Three candidates want to go on to a second round meant for two. The Organization of A merican States sent in a team of experts to resolve the deadlock, recommending that P reval's candidate be excluded and the arrival of Duvalier has at least briefly over s hadowed speculation about how the government might respond. State Department spokesman Mark Toner said Washington's focus "continues to be a resolution of Haiti's elections crisis that reflects t he will of the Haitian people and that ensures reconstruction and humanitarian efforts pro c eed unabated." President Rene Preval, a former anti-Duval ier activist, made no immediate public statements on the former dictator's re-emergence, though he told reporters in 2007 that Duvalier would face justice for the deaths of thousands of people and the theft of millions of dollars if he returned. Human rights groups urged Haiti to prosecute Duvalier for widespread abuses. Prime Minister Jean-Max Bellerive said he i s aware of the accusations but that an arrest is unlikely anytime soon. At the moment, at l east, there are no pending charges against the f ormer dictator. T he government of France, where Duvalier has spent most of his exile, said it had no a dvance notice of the trip. Bobby Duval, a former soccer star who w as starved and tortured during the 17 months he was held without charge by Duvalier in then otorious Fort Dimanche, was outraged that Haitian authorities didn't immediately arrest t he former dictator. He recalls seeing people beaten, tortured and executed by being clubbed in the back of the neck. Duvalier formed part of a father-and-son dynasty that presided over one of the darkestc hapters in Haitian history, a period when thuggish government secret police force theT onton Macoute stifled any dissent, torturing and killing opponents. He came back on an Air France jet in a jacket and tie to hugs from supporters, waving to a crowd of about 200 as he climbed in an S UV and headed to a hotel with Veronique Roy, his longtime companion. L ater, Duvalier appeared on a balcony of the Karibe Hotel and waved to supporters a nd journalists outside. Roy told reporters at one point that "Baby Doc" would stay only three days in Haiti and was asked why he had returned now. "Why not?" she replied. Once a teenage ruler, Duvalier is now a l arge, stocky man with graying hair. He sometimes seemed disoriented as he faced thec rowd, as if he were struggling to keep his eyes open. A long with the electoral crisis, Haiti is also dealing with a cholera outbreak that has killed more than 3,500 people since October and more than 1 million people are living in crowded, squalid tent encampments after their h omes were destroyed from the Jan. 12, 2010, earthquake. At one of those camps, there was s ome enthusiasm for Duvalier's return. "I don't know much about Jean-Claude D uvalier but I've heard he did good things for the country," said 34-year-old Joel Pierre. "I hope he will do good things again." But the human rights groups Amnesty International and Human Rights Watch issued s tatements urging Haiti to hold Duvalier accountable for the torture and killing of civil i ans during his 15-year rule. "The Haitian authorities must break the c ycle of impunity that prevailed for decades in Haiti," said Javier Zuniga, a special adviser at Amnesty International. "Failing to bring to justice those responsible will only lead to further human rights abuses." (This article was written by Jacob Kusgner and Jonathan M. Kaz of the Associated Press). Education is not a one way street LETTERS letters@tribunemedia.net Baby Doc adds new twist to Haiti woes Genuine protest or regime change? EDITOR, The Tribune. Fellow Bahamians, Greetings. I am grateful to have been given this very small opportu nity to speak with all of you future leaders of our country, school children, students, via these several lines courtesy of The Tribune newspaper, thank you. Children as you embarked upon another school year, I entreat you citizens of this great country, The Bahamas, to buckle down and give your school work the kind of attention it deserves/needs and the kind of attention you are capable of, to get the kind of results that are not only expected of you by your teachers/parents, but yourselves. In other words, aim for the skies and you will not be disappointed. Finally, herein lies the concept: Children, you will attend high school only once in your life time... Questions: How do you wish to remember it? Would you like to remember it as having wasted precious time and failed? Would you want to remember it as having done your best... and thus, succeeded. Better prepared for the future? The size of your efforts now, will determine what becomes of your high school life and beyond. The Bahamas needs you, leaders of tomorrow. My cheers/a shout of approval or encouragement/is with you all the way students. You make me proud to be Bahamian. FRANK GILBERT Nassau, January 13, 2011. Aim for the skies and you wont be disappointed

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BAHAMIANS are being e ncouraged to use a newly launched online application to apply for their passportsa nd make an appointment through e-mail for enrolment. I would strongly advise persons to use that systemb ecause it would free up the waiting time at the office, it would allow staff to pull the f iles, said Deputy Prime Minister and Minister of Foreign Affairs and Immi g ration Brent Symonette. The online application c an be found at the website https://epassport.bahamas.go v.bs/ecalendar/PreReq.aspx S ince the introduction of machine readable passports and ePassports three years ago, the Passport Office in Nassau has issued 126,000p assports. Mr Symonette said this number represents a great achievement. The staff at the Passport O ffice should be compli mented; theyve done an excellent job, he said. B ahamians anywhere in the world can apply for their passports through the For-e ign Missions in Washington, DC, Atlanta, New York, Miami, Canada, the United Kingdom and China. M r Symonette also addressed the question as to why applicants need to subm it their birth certificates when renewing their passport. One of the things we are doing is updating our files t o make sure we have the right birth certificate and the right documents on file.S ome persons who have passports should not be in possession of a Bahamian passport, he said. Meanwhile, another a spect to the ePassport programme is the introduction of the mobile unit which travels throughout the coun try processing renewals and n ew passport applicants. The unit is headed to Exuma, and residents there are b eing urged to have all the necessary documents for processing. T o date, the unit has processed approximately 1,200 applicants. Enrolled Once the applicants are enrolled and payment received, the application will g o to the Data Entry Department for document s canning and then on to approval and production of the passport. T his process takes 12 days to complete. So far, the mobile unit has visited Eleuthera, and still on the itinerary are Exu m a, Long Island and Andros. There are three members of the mobile unit team two enrolment offi cers and one IT officer. T he International Civil Aviation Organisation (ICAO Bahamas is a member, has mandated that by 2010, all c ountries must begin issuing machine readable passports or ePassports. T he modern passport is being upgraded from a simple paper document to a more secure one with biometrics features, includingf acial characteristics, and fingerprinting. LOCAL NEWS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 5 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Bahamians are urged to use online passport application ECONOMIST DR Olivia Saunders has labelled the countrys economic model an oppressive system that fails to empower and develop Bahamians and warned of disastrous consequences if it is retained. Dr Saunders, associate professor in COBs School of Business, delivered this assessment as one of the presenters at the 20th Bahamas Business Outlook on Thursday, January 13 at the Wyndham Nassau Resort. She said: Our economic model perpetuates an economic apartheid. We operate in a world capitalist system and operate an economic model that hinders, nay restricts, our general citizenry from owning capital in the key wealth generating sectors, while fostering capital ownership from within the Bahamas by non-Bahamians. The Bahamian economy is primarily servicesbased, with the bulk of government revenue earned through customs duties, taxes on inter national trade and indirect taxes. Responsibility Classifying this as a dependency model, Dr Saunders said it causes the Bahamas to relin quish responsibility for its resources and therefore control of its economy. Under this structure, she said, residents are limited to being labour providers and consumers, while the owners of the economy foreign nationals and a small minority of locals amass great wealth. Dr Saunders also characterised the current tax regime, which places the burden of revenue gen eration primarily on consumers, as oppressive because of its reliance on foreign investment. It is now time for us to put aside our religious devotion to this economic model we had in place for well more than a century. An economic model is only a model of how an economy functions. The Bahamas is much more than an economy. The Bahamas is a nation. This nation comprises human beings. The entirety of focus for any policy-maker has to be the evolutionary progression of the nation the evolutionary progression of its people and those institutions which serve the people. The professor acknowledged, however, that Majority Rule brought changes through investment in social institutions, especially education, which engendered a higher quality labour force and in turn allowed for broader and deeper par ticipation in the economy. Mapping a course of action on the way for ward, Dr Saunders urged the adoption of an inclusive, dynamic economic structure that embraces the talents of the Bahamian people. Within the College of the Bahamas community alone faculty, students and graduates can be found persons who can find solutions to any problems facing the country today. The capacity to design any physical or organisational structure for developing the country exists within the Bahamas and its people. Bahamians are endowed with the aptitude, the expertise to own and operate any organisation we decide is vital to our progress, our develop ment and for nation building, she said. Dr Saunders delivered her presentation just hours after Prime Minister Hubert Ingraham told the same audience he understands the impulse of some to downplay the resilience of tourism, but said there is also a failure to recognise the opportunity for diversification which exists within the sector itself. He added that tourism is one of the fastest growing industries globally one which industrial economies were benefitting from long before island economies recognised its enormous potential. The prime minister said the extent to which creativity and innovation can occur, will largely depend on the ambitions, capabilities and pursuits of the entrepreneurial community. College professor warns of economic apartheid THE judicial review hearing of veteran prosecutor Cheryl GrantBethell began in Supreme Court yesterday. Mrs Grant-Bethell is seeking judic ial review on two matters. The first is a decision taken by the Judicial and Legal Services Commission (JLSC to appoint her to the post of Deputy Law Reform Commissioner. The s econd relates to the proceedings regarding her application for the post of Director of Public Prosecu-t ions. Her attorney Wayne Munroe said yesterday that when former Directoro f Public Prosecutions Bernard T urner gave notice of his intention to demit office, he had recommended that Mrs Grant-Bethell succeed him. M rs Grant-Bethell wrote the Attorney General on October 29,2 009, informing him of her expectation be appointed to the DPP post upon Mr Turners resignation. Mr Munroe further told the court t hat on November 2, Mrs GrantBethell began acting as DPP assuming the responsibility of the sub-s tantive post although no immediate appointment had been made. M r Munroe noted that the position was subsequently advertised. He said Mrs Grant-Bethell submit-t ed her application for the post. He said that on December 31, 2 009, she met with the prime minister, who assured her he had advised that she be appointed to the post of DPP. On Janaury 7, 2010, she was told that she would be appointed to the post for a period of one year. She met with JLSC on Janaury 11, 2010 and they determined that she would serve as Acting DPP. M r Munroe argued that the JLSC h ad failed to comply with regulat ion five of its rules, having kept no m inutes of any of the meetings with M rs Grant-Bethell. He told the court that on April 20, 2010 Mrs Grant-Bethell again met with the prime minister, at which time an ambassadorial appointment was offered to her. Mr Munroe said that on May 4, his client was advised of her appointment to the post of Deputy Law Reform Commissioner, although she never applied for the post. H e said that Mrs Grant-Bethell v iewed the appointment as a lateral m ove and not a promotion. The case continues today. Grant-Bethell judicial review hearing begins in Supreme Court By NATARIO McKENZIE Tribune Staff Reporter nmckenzie@tribunemedia.net A 23-year-old man was arraigned in Magistrates Court yesterday charged with the New Years Eve murder o f Maxene Metellus. Police have charged Torriano Tucker, 23, of St James Road, with the murder of Mr M etellus, 44. M r Metellus was shot and killed on New Years Eve when armed gunmen broke into his home early that morni ng. His death was the 96th homicide for 2010. Tucker, who was arraigned b efore Chief Magistrate R oger Gomez was not required to enter a plea to the murder charge. He has also been charged with two counts of burglary. It is alleged that h e broke into Metellus home and robbed his wife of $ 760.15. It is further alleged that on the same day he broke into the home of Lorriano Moxey at Culmers Alley. It is alleged that when he wast here he made death threats against Moxey and assaultedh im with a handgun. Tucker pleaded not guilty to the c harges. His case was transferred to Court 6, Parliament Street, for a preliminary inquiry despite his protest that hew ould not get a fair hearing there. The case was adjournedt o January 26. S EEKINGJUDICIALREVIEW: C heryl Grant-Bethell. BRENTSYMONETTE MAN CHARGED WITH NEW YEARS EVE MURDER COURT BRIEF

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L OCAL NEWS P AGE 6, TUESDAY, JANUARY 18, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM DUNDAS TOWN, Abaco The tele-medicine programme between the Princess Margaret Hospital in New Providence and the Marsh Harbour Clinic in North Abaco received a major vote of confidence this week when one of its first patients proclaimed he would not have been alive today if the programme had not been implemented. Charles Bartlett made the statement during a town hall meeting at the Friendship Tabernacle Church in Dundas Town, Abaco last week. The meeting was held to inform residents of the proposed expansion of the programme to includea dermatology clinic. Minister of Health Dr Hubert Minnis led a delegation of health officials from New Providence to Abaco. They included specialist physicians Dr Her bert Olander, a dermatolo gist, and Dr Colin Bullard, an emergency medicine specialist who serves as the coordinator of the telemedicine programme. The tele-medicine pro gramme saved my life. I would not have been here today without it, Mr Bartlett proclaimed to a round of applause. I am alive, well and healthy today because of the programme. Dr Minnis said that because of its early success es, the programme will be expanded to include a teledermatology clinic. That expansion will take place on Friday, January 21, 2011. The Health Minister said the expansion of the pro gramme into dermatology will go a long way in treating and reducing the num ber of skin disorders that are affecting Bahamians. Abaco, he said, is the starting point for the project. As with the initial telemedicine programme, Aba conians with skin disorders will now be able to be assessed by Dr Herbert Olander and his team of dermatology professionals at the clinic in Abaco thereby reducing their need to travel into New Providence for dermatology consultations/treatment. Dr Minnis said medicines for various skin disorders are already on location to facilitate any prescriptions written by Dr Olander and his medical staff. The purpose of the programme is to ensure that every Bahamian, on every island within the Commonwealth has access to the same kind of quality healthcare treatment as those residing in New Providence and Grand Bahama, Dr Minnis said. There is no doubt that small-island states such as the Bahamas face challenges in constructing fullscale, specialist medical facilities on every island and every cay because of our archipelagic make-up. Tele-medicine will allow us to overcome those chal lenges, and once the infra structure is put in place, Bahamians and visitors alike in far-flung islands such as Inagua and Mayaguana will be able to receive the same kind of specialist care and attention as those in New Providence and Grand Bahama, Dr Minnis added. He said the programme has positively impacted the provision of quality health care services to mainland Abaco and its surrounding cays by increasing access to emergency and other care, helping to reduce the need for air ambulatory services for critically injured persons who can now be assessed on the ground in Abaco, and by reducing the need for travel into New Provi dence for consultations. Similar successes, he said, should be attained in the other islands of The Bahamas. What the tele-medicine programme has done is that it has allowed medical per sonnel in New Providence led by Dr Bullard and his team to liaise with medical personnel in Abaco to assess, examine, diagnose and treat patients, the Health Minister said. This has helped to expand the healthcare services provided into Abaco as specialist physicians are able to review cases in real time and provide examinations as if they were actually on location reviewing the patients themselves the system is just that good. Dr Minnis said health officials will expand the programme into a number of other Family Islands within the near future. T HE countrys tele-medicine programme will be further expanded to include a tele-ambulatory component to help deal with the increase in trauma cases, Minister of Health Dr Hubert Minnis said Friday. A ccording to the National Emerg ency Medical Services Department, t he estimated 44 per cent increase in gunshot victims in 2010 compared to the previous year and an overall rise in trauma cases is taking a major toll on the health care syst em. To help combat this problem, a t ele-ambulatory programme will be l aunched in New Providence. D r Minnis said the programme, which will start with at least one emergency medical service vehicle att he Princess Margaret Hospital (PMH medicine capability in its initial stage, will play a major role in e xpanding critical care to victims at the scene of traumatic events such as shootings, knifings and road traffic c rashes. E mergency medicine physicians a t the Accident and Emergency Department of the Princess Mar garet Hospital led by Dr ColinB ullard, an emergency medicine s pecialist and coordinator of the t ele-medicine programme will be able to diagnose and commence treatment of trauma patients on sitev ia video-conferencing. Dr Minnis said this capability will not only significantly reduce the time between trauma and treatment, but will also have a domino effect on the management of trauma and other cases at PMH as increased d emand for bed space is one of the n egatives associated with increased trauma cases. T he tele-ambulatory service is part o f a wide-scale initiative by officials of the Ministry of Health, the Department of Public Health and the Public Hospitals Authority toa ddress treatment of the rising number of trauma cases either presenting, or being transported to, the Accident and Emergency Depart-m ent of the Princess Margaret Hospital, Dr Minnis said. Health officials have developed a n umber of other initiatives to address the issue, including expanding the Accident and Emergency Department of PMH and beginning w ork on the construction of a new treatment facility at the former City Market building on Market Street. A n education and training prog ramme has also been established with a number of teaching and medical facilities throughout the United States and Canada wherebyB ahamian emergency medicine personnel can share experiences and best practices with their interna-t ional and regional counterparts via v ideo-conferencing. Trauma cases, including those related to shootings, knifings and traffic crashes, have dramaticallyi ncreased the need for bed space in the Accident and Emergency Sec tion of the PMH, Dr Minnis said. The whole idea is that trauma physicians in the emergency room will be able to commence treatment of the patient at the accident site or roadside and that will improve the q uality of care and improve the outcomes of those patients, he said. Additionally, our emergency r oom doctors can continue to moni tor and treat the patient while enroute to the hospital, which will improve the quality of critical care to the patient. There is no doubt thatt he introduction of the tele-ambulatory service will have great impact not only on the quality of life of vic-t ims of trauma, but also reduce some o f the costs associated with the treat ment and care of trauma patients. Dr Minnis said trauma cases involving gun shot and stab wounds,a nd injuries from road traffic crashes, are on the increase and are hav ing great impact on PMH as trau m a cases take precedence over a lot of cases because they are such an emergency or life and death situation. He said in addition to requiring l arge amounts of bed space, the cases carry significant external, internal, psychological and financial burdens o n the victims and indeed the h ealthcare system of the Bahamas. Dr Minnis said while the external injuries are obvious, the internal and psychological ones are less obviousa nd involves a wide range of care. Trauma cases have great impact because those cases not only takeu p quite a bit of bed space, but they a lso increase demand on the Inten sive Care Unit which is thousands and thousands of dollars, in addi tion to placing a high level ofd emand on the human resources of the healthcare facility insofar as sur gical and medical staff are con c erned, Dr Minnis said. Tele-ambulatory service to help combat trauma cases increase Tele-medicine programme for Family Islands g ets vote of confidence MINISTER OF HEALTH Dr Hubert Minnis speaks to the media on Friday. MINISTER OF HEALTH Dr Hubert Minnis in Abaco. TUNIS, Tunisia Associated Press TUNISIAtook a step t oward democracy and reconciliation Monday, promising to free political prisoners and opening its government to opposition forces long shut out ofp ower but the old guard h eld onto the key posts, angering protesters. Demonstrators carrying signs reading "GET OUT! demanded that the former ruling party be banisheda ltogether a sign more troubles lie ahead for the new unity government as security forces struggle to c ontain violent reprisals, s hootings and looting three d ays after the country's longtime president fled u nder pressure from the s treets. "We're afraid that the p resident has left, but the powers-that-be remain," said Hylel Belhassen, a 51year-old insurance salesm an. Even before the new g overnment was a nnounced Monday, secur ity forces fired tear gas to repel demonstrators who see the change of power as Tunisia's first real chance at democracy. P resident Zine El Abidine Ben Ali fled Frid ay to Saudi Arabia after a month of protests over unemployment and corruption led to his downfall after 23 years in power. T he government announced Monday that 78 civilians have died in them onth of unrest an announcement that under lined the depth of the vio l ence in the usually placid Mediterranean tourist des tination. Under autocratic Ben A li, Tunisia was effectively under one-party rule. The new government named M onday includes three ministers from the opposition a first in Tunisia b ut members of Ben Ali's RCD party held on to most of the jobs, including the most important posts. S ecurity forces have gotten an image makeover in the public mind. The oncef eared police have been fighting snipers and armed groups widely believed to be Ben Ali loyalists. N earby nations, mean while, faced a wave of selfimmolation attempts Mon d ay, apparently influenced by the desperate Tunisian man who set himself on fire a month ago, sparking t he protests that brought his president down. In Tunisia, hundreds of stranded tourists were still being evacuated and for eign airlines gradually resumed flights that were halted when Tunisian airspace closed amid the upheaval. Besides the 78 civilians killed in the monthlong protests, Interior MinisterAhmed Friaa said 94 civilians were injured a jump from the previous official death toll of 23. The new figure does not include members of security forces, some of whom also died, Friaa said. Among victims of the violence was a French pho tojournalist who died Monday after being hit in the face with a tear gas canister three days earlier. The French Foreign Ministry said Loucas Von Zabiensky-Mebrouk, 32, was the "victim of a delib erate homicidal act." The troubles have reverberated to the touristbased Tunisian economy, which Friaa said has lost$2 billion because of the unrest. Resort towns like Ham mamet are boarded up and under police control, said Norredine Gohdbani, who worked in a restaurant there and has returned to stay with his family in Tunis. Friaa told reporters that 85 police stations have been damaged around the country, along with 13town halls, 43 banks, 11 factories and 66 stores or shopping centers. TUNISIA ANNOUNCES NEW GOVT

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LOCAL NEWS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 7 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM THE Lyford Cay Foundation (LCF made an emergency gift of $10,000 to the Salvation Army of the Bahamas and Great Commission Ministries to help underwritet heir efforts to provide shelter, food, clothing and other supplies to the victims of the devastating B oxing Day fire which left h undreds of people in the area known as Mackey Y ard homeless. The Foundations aim is t o lend assistance that is likely to have a long-termb enefit, but we also recognise the critical nature of s hort-term need and decided to act immediately to try t o help the many men, women and children displaced by this tragedy,s aid Kylie Nottage, chair of LCF's Gifts and Grants C ommittee. We have worked extensively with the Salvation A rmy of the Bahamas and Great Commission Mini stries in the past, and we know that they are able to reach out quickly and effect ively to get help to people in need in the community. T he LCF said it has given a total of $139,968 to the Salvation Army and $25,718 to Great Commission Ministries over they ears to fund their various philanthropic projects. These two groups along with other non-prof its, faith-based organisations and government agencies mobilised right away to lend humanitarian assistance to the victims of the fire, primarily by providing them with food,w ater, clothing, blankets, pillows, cots and a host of personal care items. Given their limited funds a nd the increasing demand f or their services at this economically challenging t ime, neither organisation w as sure how long it would b e able to keep up this work. The Foundation gift was very timely, as we were c hallenged with serving both our regular clients and t he disaster victims, said Minalee Hanchell, executive director of Great Com-m ission Ministries, which provides emergency shelt er and counselling, and feeds hundreds of people daily. We will continue to r each out to the victims and their families. M arsha Kanady, community relations and development associate at the Salv ation Army, expressed similar sentiments. The Lyford Cay Foundation's gift will make a huge difference in our relief efforts for the fire survivors, she said. Disaster supplies are not cheap, and it takes funding to purchase these items. With this gift we will be a ble to assist more surv ivors with more of their immediate needs. The Boxing Day fire d estroyed 120 shanties in w hat is believed to be one o f the oldest Haitian vill ages in New Providence. A bout 350 people were d isplaced in the tragedy. Lyford Cay Foundation makes donation to the Mackey Yard fire victims C OOK MARIE ROLLE p repares a h ot meal at the Great Commission M inistries Feeding Centre. H ANDS FOR HUNGER d elivers f ood donated by Atlantis to Great Commission Ministries at #16 Wulff Road.

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By RALPH J MASSEY UNFORTUNATELY ...the failure of public education in both the U. S. a nd the Bahamas ranks c lose to jobs and budget d eficits as one of the most difficult public policy issues of the day. The evi-dence of the public educat ion failure in the U. S. and t he Bahamas is clear. However, the average citiz en cannot help but be c onfused about what is w rong and what should be done. The evidence is clearer with respect to theU S, but it is relevant to the Bahamas. Explosive Documentaries The level of academic achievement in the U. S., t he long-standing s tatus quo promises catastrophic l ong-term economic and s ocial consequences. The 20th Century world superp ower ranks 24th behind virtually all advanced A sian and European countries in international academic rating systems. A cademically it is underachieving; and two recentl y released full-length film documentaries deal with this. Waiting for Superman is in limited public distribution; and in late February it is expected tow in the Oscar for Best F ilm Documentary. It focuses on a particularly successful type of schoolt hat flourishes in urban low-income neighbour hoods. The Cartel: education + politics = $ i s about New Jersey, the state with the highest expenditures per student in America and an unacceptably low academic achievement ranking. O ne should note that N ew Jersey has three types of public schools: Regular public schools with teachers in teachers' unions, Magnet public schools t hat have a specialized curriculum also with teachers in teachers' unions, and Charter schools that a re publicly owned but priv ately operated with teachers who are not in teache rs' unions. T he New Jersey Reality Show T he latter documentary a rgues that in New Jersey there is a Cartel made up of unions, school boards, the New Jersey Department of Education and politicians that collude systematically for their gain a t the expense of students a nd the state's tax payers. T he immediate losers a re the students as meas ured by what they don't k now and cannot do on leaving school and a state financial budget that has been out of control. The documentary describes and illustrates how the Cartel works with i nterviews and hard data...a simply fascinating one hour and thirty-two m inute t our de force O ne example is a new $30 million football stadium at Shabazz High School located in a lowi ncome district where only 14 per cent of the students get a passing grade inm ath...a startling contrast o f wasteful spending and academic failure. The Obsolete Paradigm T he obstacle to education reform in large measure is the political powero f the New Jersey Education Association (the NJEA, the teachers union). T he issue is not the quali ty of 60 to 70 per cent of public school teachers; rather it is the 30-40 perc ent that are not and can n ot be fired for cause. T eachers achieve tenure after three years and one day of service; and they are protected against u nlawful discharge by a liti gation process that the NJEA zealously uses to b lock 99.7 per cent of all p roposed separations. B ecause of the costly litigation hurdle, it is virtual-l y impossible to fire a t eacher. And...guaranteed employment-for-life has disastrous consequences: 1. Learning Impairment. Students who get more e ffective teachers have an e xtreme advantage while t hose with poor teachers e xperience a near-perman ent retardation of academ ic achievement. Strong evidence supports the conclusion that a good teacher will produce a student gain of one and a half grade-level equivalents during a single acade mic year; whereas a bad teacher will produce a gain of only a half year...and...it i s likely that the typical s tudent will get a run of bad teachers. 2. Picking Good Teach e rs. I t is extremely difficult to identify those teaching candidates that will pro d uce superior studentl earning gains. Unfortu nately, teacher-education courses taken or a teacher's Intelligence Quo t ient are not good indicators of future teaching success. I t helps if teaching candidates have under-gradu ate degrees in specific aca demic fields; however, Eric H anushek, the leading e ducation economist, concludes that what happens after a teacher is hiredr eveals more valid indica t ors of teacher effectiveness; and he strongly reco mmends that teacher rewards and promotions should be tied to the measured academic gains registered by a teacher's stud ents. S uch a policy means t hat a school district must e ngage in a continual p rocess of hiring, evaluat i ng and firing to acquire a stable of quality teachers in order to avoid trappingu nfortunate students in a series of poor teachers...thus creating a life-time learning impair-m ent. In this case the best practice is the polar opposite to employment-f or-life. The Inconvenient Truth The Cartel documentary, however, identifies ag enuine road map to extract New Jersey from the present quagmire ..namely, the unleashing of its existing charter school programme and combining it with studente ducation vouchers given t o all students who redeem them at the public or pri vate schools that accept t hem. T he past performance record of charter schools m aybe viewed differently depending on the analyst. Up until now the New Jersey Charter Schools have been approved and regul ated by the C artel; a nd it i s no surprise that the total n umber of charter school s tudents is very small. This c reates an excess number o f students applying to charter schools; in this situation the state mandatest he use of lotteries to determine who gets admitted. Teachers unions are diam etrically opposed to charter schools since they allegedly drain financialr esources from unionized t o non-unionized schools; and thus their objective is to limit their success. Progressives and liberals g enerally favour existing U.S. Government voucher programmes like the GIB ill and Pell Grants that support college atten dance, food stamps and housing vouchers; but theya bhor school vouchers. T he inconvenient truth is that education vouchers split the funding of educa t ion from the delivery of e ducation services. The New Jersey charter schools m ay produce higher academic achievement and/or a safer learning environment; but TheCartel prefers to fund regular and m agnet public schools. T hat's the Inconvenient T ruth. H owever, the newly e lected Governor Chris C hristie is on a mission to change this. T he Bahamas What do we know about public school reform in the Bahamas? T he good news is that the nation has a Minister of Education who is deal-i ng with the Department o f Education in an effec tive way. The bad news is that he inherited the New Jerseyg ood teacher/bad teacher problem; and he must deal with long-standing andd eeply-ingrained beliefs that are hostile to the New Jersey reform programme. And...there is a need for a new ten-year plan with a c onvincing Bahamian strategy. There is nothing easy a bout this task. P AGE 8, TUESDAY, JANUARY 18, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM Education + politics = illiteracy + waste O PINION A NEW entrance scholarship valued at $20,000 has been established by the Lombard Odier bank as a result of its relationship with the College of the Bahamas. According to COB, the bank one of the oldest private banking firms in the Bahamas has created this scholarship to help cultivate a new cadre of professional talent in the financial services sector. The Lombard Odier Darier Hentsch Private Bank and Trust Limited Entrance Scholarship makes $5,000 per year available to a student with demonstrated academic excellence pursuing a full-time undergraduate degree at the College in banking and finance with a for eign language, COB said in a statement. Young adults would agree that tourism is great, but private banking is another great option, said Christian Coquoz, senior vice-president of Lombard Odier. We want to provide an opportu nity for students who are interested in the banking arena to have the funds necessary to pursue higher education. Graduates of COBs School of Business have through their profes sional pursuits made vast contribu tions to the development of the finan cial services sector. Many of them hold leadership positions across the industry and have developed valu able innovations, the college said. Dr Betsy Boze, College president, lauded Lombard Odier as a gener ous benefactor committed to the development of future Bahamian banking and finance leaders. This is an outstanding gift which demonstrates that Lombard Odier recognises the critical importance of supporting high achieving students and fostering unique opportunities for student development in the bank ing and finance sector," she said. In addition to COB Entrance Scholarship, the bank said it has also developed an innovative programme which identifies an academically promising seventh grade student for mentorship throughout high school and then provides a scholarship for tuition. In this way, the bank said it is acting on its commitment to education from the secondary to tertiary levels. Rather than just make a donation, we really want to associate ourselves with said Mr Coquoz. At one stage, that student will perhaps do a summer internship here and then receive a scholarship. Basically this is a ten-year commitment. New $20,000 scholarship f or those wishing to enter the financial services sector T T h h i i s s i i s s a a n n o o u u t t s s t t a a n n d d i i n n g g g g i i f f t t w w h h i i c c h h d d e e m m o o n n s s t t r r a a t t e e s s t t h h a a t t L L o o m m b b a a r r d d O O d d i i e e r r r r e e c c o o g g n n i i s s e e s s t t h h e e c c r r i i t t i i c c a a l l i i m m p p o o r r t t a a n n c c e e o o f f s s u u p p p p o o r r t t i i n n g g h h i i g g h h a a c c h h i i e e v v i i n n g g s s t t u u d d e e n n t t s s a a n n d d f f o o s s t t e e r r i i n n g g u u n n i i q q u u e e o o p p p p o o r r t t u u n n i i t t i i e e s s f f o o r r s s t t u u d d e e n n t t d d e e v v e e l l o o p p m m e e n n t t i i n n t t h h e e b b a a n n k k i i n n g g a a n n d d f f i i n n a a n n c c e e s s e e c c t t o o r r . Dr Betsy Boze

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LOCAL NEWS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 9 TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM BAHAMAS National Trust Discovery Club Members from Oakes Field Primary and St Andrews School participated in their first camping activity just before the Christmas. Club members took Camping 101 where they were introduced to pitching a tent, rollinga sleeping bag and how to manage good personal hygiene with very little water. Campers were able to practice their newly acquired skills immediately as they travelled deep into the Retreat gardens, their campsite for the evening, to pitch their tents and get acquainted with their tent mates. Most of the campers had a good laugh as they accepted the challenge of cleaning up for bed with only two baby wipes each. Despite an evening rain, the campers spirits were not dampened as they gathered together for songs and ghost stories led by Discovery Club leaders Matt Holten and Hilary Lockhart. Once the rain ended the group gathered around the camp fire for the traditional roasting of marshmallows and more stories. The campers arose at 6am to make breakfast, wash dishes and clean up their campsite. According to Shacara Lightbourne, BNT Discovery Club coordinator, the camp was a great success. We are always pleased when two different clubs decide to camp together. It allows young people from different backgrounds to experience fellowship and share experiences while learning to appreciate their natural environment. BNT Discovery Club members experience the great outdoors CAMPING101: Marshmallow roasting at the camp. F AMILY and friends of Millie Lleida have made an urgent p lea for blood donations. Mrs Lleida is in the Intensive Care Unit at Doctors Hospit al after undergoing surgery. A nyone with the blood type O is asked to visit the hospi tal urgently and ask to donate blood to Mrs Mildred Lleida. Ur gent plea for blood donations JAPANESE maritime representatives paid a courtesy call on Environment Minister Earl Deveaux to introduce their choice for the International Maritime Organisations Secretary General post, Koji Sekimizu, the current director of the Maritime Safety Division. Mr Sekimizu campaigns on the mission of ensuring safety at sea and the emerging issues of anti-piracy solutions. The Bahamas is the third largest ship registry in the world, following Panama and Liberia, and holds an influential position on the IMO. Pictured from left to right are Ronald Thompson, Environment Permanent Secretary; Mr Deveaux; Nori fumi Idee, director general of Japans Maritime Bureau; Yasuhisa Mitani, director general of Japan Ship Centre (JETRO Gena Gibbs /BIS A MNESTY International yesterday urged the Haitian authorities to bring former president Jean-Claude Duva lier also known as Baby Doc to justice for human rights abuses committed during his regime in the 1970s and 80s. The widespread and systematic human rights violations committed in Haiti during Duvaliers rule amount toc rimes against humanity. Haiti is under the obligation to p rosecute him and anyone else responsible for such crimes, said Javier Zuiga, special advisor at Amnesty International. Jean-Claude Duvalier returned to Haiti on Sunday a fter nearly 25 years in exile in France. He fled Haiti in 1986 after a popular uprising which was violently repressed by the former Haitian Armed Forces and a local militia known as the tonton macoutes after the boogeymen said in local childrens fables to walk the streets after dark. Throughout his 15 years in power (1971-1986 ic torture and other ill-treatment were widespread across Haiti, Amnesty International said. Hundreds of people disappeared or were executed, the organisation said. Members of Haitis armed forces and the National Security Volunteers militia also known as the tonton macoutes played a primary role in repressing prodemocracy and human rights activists. The tonton macoutes were disbanded in 1986 after Jean-Claude Duvalier went into exile. The Haitian authorities must break the cycle of impunity that prevailed for decades in Haiti, said Mr Zuiga. Failing to bring to justice those responsible will only lead to further human rights abuses. Amnesty says Baby Doc must face justice f or Haiti r ights violations HAITI'S FORMER DICTATOR Jean-Claude Baby Doc Duvalier, center, waves to supporters from a hotel balcony after his arrival in Port-au-Prince, Haiti, Sunday Jan. 16, 2011. (AP J APANESE MARITIME REPRESENTATIVES P A Y COURTESY CALL ON MINISTER ASUNCION, Paraguay A LEFTIST guerrilla group has claimed respon sibility for a bomb thati njured five people as Paraguay's third bombing ina week raised alarm about increasing activity by the self-styled Paraguayan Peo ple's Army, according to Associated Press. A handwritten letter left nearby vowed to continue anti-government attacks and to show no mercy for police shootings of their comrades. Interior Minister Rafael Filizzola flew to the scene Monday hours after the bomb exploded just before midnight. He vowed no retreat in the effort to jail the guerrillas and dismantle their organization, known by the Spanish initials EPP. The latest homemade bomb was left in a backpack outside a police station in Horqueta, a small town in northern Paraguay that is home to fugitive members of the EPP. Someone deto nated it by remote control as four officers sat in a police vehicle nearby. All four were expected to recover, although one had serious eye damage, special forces commander Elizardo Rojas said. A fifth victim a motorcyclist passing by sought treatment for hear ing damage at a hospital and was being sought as a witness. PARAGUAY: FIVE INJURED BY GUERRILLA B ACKPACK BOMB

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incidents started while he w as in the seventh grade and c ontinued up to the 12th grade, and once after he had g raduated. J ustice Hartman Longley p resides over the case, which is before a jury of seven mena nd two women. A mbrose Armbrister and E rica Kemp of the Attor n ey Generals office are appearing on behalf of the Crown. B irbal, a Trinidadian, is charged with two counts of unnatural sexual intercourse with two male students u nder the age of 18 between January 1, 2002, and June 2007, and again between S eptember 1, 2001 and Febr uary 28, 2007. C arlson Shurland is representing the 48-year-oldf ormer school teacher of the E ight Mile Rock High School. McMasters told the Court t hat Birbal was one of two art teachers at the school. He said Birbals classroom was located in the back of t he school campus near the basketball court. He said there was wallpaper on the windows in Birbals classroom. The windows were never opened and you couldnt see outs ide. McMasters also r ecalled that the heavy w ooden door of the classr oom had one lock on the o utside and three additional l ocks on the inside. McMaster said the first encounter occurred in the classroom during the last period when he was alone finishing his work. He said Birbal asked him t o open his mouth. He said Birbal held his jaw and asked him, Why after all t his time you aint get your m outh fix? A ccording to McMasters, Birbal went to his car andg ot a big camera out of the t runk. He returned to the classroom, locked the doors, and starting taking pictures of him smiling. H e said Birbal then started unbuttoning his shirt. Birbal moved his hand away and continued to take off M cMasters shirt, his undershirt, and then his pants. He said the art teacher took more pictures of him. After the sexual encounter, McMasters said he blacked out and remembers waking u p after being wet up. M cMasters was very emot ional, pausing, and even s haking at times while giving h is testimony in the witness b ox, prompting Justice Longley to ask whether he needed a break. At one point he bent down behind the witness box, and was told several times by the judge and prose cutor to speak up. McMasters said after waking up he ran home and w ent to the bathroom. My h ip was wet and sat on the t oilet to stool because my belly was hurting, but Ic ould not stool, he recalled. H e wiped himself with tissue and saw some white stuff and blood, and felt a burning in his hip. M cMasters said after the first ordeal Birbal put $50 in his hand. He said Birbal continued t o have sex with him over the years and he became used to it. Birbal would force sex on him when he tried to resist. McMaster testified that Birbal sometimes used cond oms. He also used lubric ants. M cMasters said he was a fraid to tell anyone because o f the embarrassment of b eing called a sissy, and getting cut ass from his mother. Birbal gave McMasters money, and had even got his church folks to donate monies for braces for M cMasters teeth. He also bought him an MP3, and would give him groceries f rom his apartment to take h ome. M cMasters said one time Birbal picked him up for ad entist appointment and t ook him to Deadmans Reef in West End. He said Birbal parked his car on a track road. He hold my hand and zip down his pants and tell me to suck his things, he told the court. W hen asked by Mr Armbrister what he meant by things, McMasters explained. H e also recalled an inci dent at Birbals apartment. Birbal went to the bathroom and came out naked andh ad sex with him. While there, he said Bir bal showed him some boys h aving sex on the compute r. He also saw photographs of other boys, including himself, that were stored on a computer memory card. McMasters said when he asked Birbal who the boys were, Birbal told me that t here were other boys he was seeing, but he could not tell him who they were. H e said sexual intercourse w as very uncomfortable, and p ainful especially to his stomach and hip. There was also the feeling of not beinga ble to stool. When Armbrister asked McMasters if he could rec o gnize Birbal, McMasters said Birbal was sitting in the court, wearing green trousers, white striped shirt,a nd jacket. U nder cross-examination, Carlson Shurland askedM cMasters when he first r eported the incident. McMasters said he reported the incident to police after he had graduated froms chool in 2007. He said he also told his father that Birbal had raped him. Mr Shurland asked McMasters if Birbal was the only persons he had sexual intercourse with, and he replied, Yes. He said Birbal had sex with him one time after he had graduated, and he destroyed his cellular phone s o that Birbal could not have contact with him anymore. Do you have HIV? asked S hurland. McMasters said h e did not, but that he t hought he had the disease and had told the police officer Brown that he had HIV. H e said he also told the principal, but Birbal denied it. He said the principal didn ot believe him and so he said he lied because he was fed and people were telling him what to say. In 2009 you met Troy G arvey who told you you could make a lot of mon-e y? asked Shurland? Not that I recall, McMasters replied. It is your intent to bring a civil suit against the Ministryo f Education? Shurland continued. No, I dont, answered McMasters. The trial continues on Tuesday. L OCAL NEWS P AGE 10, TUESDAY, JANUARY 18, 2011 THE TRIBUNE T O DISCUSS ST ORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM groups and students to travel to Cuba. How ever, the US still maintains its long-held trade embargo with the Communist island. "It's in humanitarian interest and something that has been talked about for a long period of time. I have no concerns to those kinds of developments, but it is something that is obviously, were it to go much farther than that, will have a significant impact on our business in the short-term," the tourism minister said when contacted by The Tribune for comment yesterday. "I don't think it will (have an impact short-term because it's really limited to a spe cific category of travel." The new relaxed measures are seen as part of the inevitable opening up of Cuba for American travel, a future possibility that could increase competition for the US market. Currently Americans account for more than 80 p er cent of the Bahamian tourist market. Mr Vanderpool-Wallace said this is one of the reasons that his ministry is focused on branding each of the family islands as different destinations in an effort to make the Bahamas more appealing. "In very simple terms, part of the reason that we are developing the Bahamas to go beyond Nassau and Paradise Island is to provide more products for the travelling product as opposed to them perceiving us as having just a singular product in the Bahamas. "So the faster we can get the air connections to all the other islands and get those other island destinations established, we then find ourselves with many more products to sell to be more competitive compared to where we are today. That is all related to us being more competitive for that eventual day." Last week, Mr Obama said he would instruct the relevant American government agencies to allow certain groups religious and students freedom to travel to Cuba. was forecast to affect Bimini, however the tiny island was later dropped from the weather advisory. Residents in affected areas were warned to stay indoors and away from windows as a precaution against possible water spouts, small tornadoes, hail, and localized flooding. Boaters were also advised to remain at port until weather conditions improved. Up to press time, meteorological officials had extended the warning to 7.50pm, when the last of the system was expected to pass into the Atlantic Ocean. Male student gives emotional testimony in teacher sex case FROM page one CHARGED: Andre Birbal Williams was found near the OK Bar on East and Hay streets sometime before midnight with multiple gun shot wounds. At yesterdays press con ference, assistant commissioner Leon Bethel, who heads the Central Detective Unit told the media that they are probing a number of leads into the shooting death of Inderia Barry, who was shot in the head on Sat urday morning. He said that they have obtained the help of a pathologist and a forensic scientist to assist them in their investigation. The two other murders on Sunday, he said, are expected to be wrapped up very shortly. Commissioner Greenslade commended his officers for their hard work and commitment to their jobs, pointing out that in 2010 they charged 87 persons and con tinue to make arrests every day. It is our intention to maximize to the fullest all of the resources entrusted to our care. You can expect to see a more robust and presence response from the police force in the future, he said. FROM page one P olice conf ident of solving murders Residents br aced for severe weather FROM page one US r elaxation of Cuban travel wont affect Bahamas in the short ter FROM page one

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SECTIONB business@tribunemedia.net TUESDAY, JANUARY 18, 2011 THETRIBUNE $4. 68 $4. 51 $4. 69The information contained is from a third party and The Tribune can not be held r esponsible for errors and/or omission from the daily report.$ $4.70 $4.72 $4.61 [Learn more at royaldelity.com] BAHAMASNassau:242.356.9801 Freeport:242.351.3010BARBADOSSt.Michael:246.435.1955 rb !n&!! !" #!&$!& &#'-))"*$"*+-$))*')+**"&'*!'(("& ))+*&&+"'&)(')rfn! r By NEIL HARTNELL Tribune Business Editor A leading Freeport attor ney yesterday said he had been approached by various Grand Bahama Port Author ity (GBPA ate Judicial Review proceedings against Customs over the bonded letter controversy, telling Tribune Business the revenue collection agency does not have a leg to stand on based on his review of existing statute law. While noting that his opinCUSTOMS DOES NOT HAVE A LEG TO STAND UPON F RED SMITH Leading attorney approached to initiate action against revenue collector over NIB bond letter* Argues Freeport being subject to regulatory strangulation and thrown into chaos at worst time* Calls for more efficient Judicial Review process SEE page 4B B y NEIL HARTNELL Tribune Business Editor M arathon Bahamas gen erated a significant 2,500 e xtra room nights for the Bahamian hotel industry during one of its slowestp eriods, the events lead organiser said yesterday, telling Tribune Business it had just scratched the surface of its commercialp otential. Franklyn Wilson, who is also chairman of Sunshine Insurance, told this newspa per the Bahamas had an o pportunity to get tremen Marathons 2500 nights put hotels on fast track n Sunshine chief says significant boost for tourism industry at one o f slowest periods n Says Marathon Bahamas has just scratched the surface of economic potential, and skys the limit n R ace and Susan Komen event get really influential and impactful people thinking about the Bahamas for economic spin-offs RACINGFINISH: A scene from Sundays marathon. SEE page 5B By NEIL HARTNELL Tribune Business Editor T he Bahamas International Securities Exchange (BISX complete the implementation of its Central SecuritiesD epository (CSD 2011 first quarter, its chief executive told Tribune Busi n ess yesterday, adding that it would go a long way to raising this nations finan cial profile. We have set a target date f or the substantial work to be completed, and have it functional, if not near func-t ional, during the first quarter of this year, Mr Davies told Tribune Business of the BISX TARGETS FIRST QUARTER FOR SECURITIES DEPOSITORY END Facility to go a long way in raising Bahamas financial profile SEE page 4B B y NEIL HARTNELL Tribune Business Editor and TANEKA THOMPSON Tribune Staff Reporter tthompson@tribunemedia.net The Government is expecting to earn a net $300,000 rev-e nue increase from reforms to the Business Licence Act and i ts taxes, a government minister said yesterday, confirming that the rates for industries such asc onstruction and the hotels had been adjusted downwards by 0 .25 percentage points to reflect their concerns. Govt nets $300k through Business Licence reforms Reduces tax rates to 0.5% for construction, hotels, petroleum and food wholesalers, meeting concerns but giving up $2m inrevenue Amends Act to give statutory appeals process Removes collected occupancy taxes from turnover definition Pledges seven-day response to licence applications ZHIVARGOLAING SEE page 4B By ALISON LOWE Business Reporter Alowe@tribunemedia.net T ourism officials have welcomed news that the Bahamas will host theC aribbeans biggest tourism trade show C aribbean Marketplace in 2012, with the expectation that it will not onlyb ring around 1,500 extra visitors to Nassau but also g ive the country a chance to showcase its tourism offerings to buyers andg lobal media. The Bahamas was conf irmed as the venue for Caribbean Marketplace 2012 as the 2011 evento pened in Montego Bay, Jamaica, on the weekend, where stakeholders from the Bahamas and across the Caribbean gathered tod o deals in the tourism industry and assess the current environment. I n an area with 3,000 hotel rooms in the immedia te vicinity of the event, which is taking place at the brand new Montego Bayc onvention centre, and 2,500 rooms in the sur r ounding areas, president of the Jamaica Hotel and Tourism Association,W ayne Cummings, said the decision to host the event in the tourism-dominated province has ensured that every hotel bed of note iso ccupied at present in Montego Bay. Around 1,300 delegates have registered for the event, and up to 2,000 peo-p le in total have come to the area due to some level Bahamas eyes 1500 visitor boost in SEE page 5B

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The Bahamas Financial Services Board (BFSB Banks & Trust Companies (AIBT ship with Deloitte & Toiuche, Ernst & Young, KPMG and PricewaterhouseCoopers will host a half-day roundtable today on key US tax initiatives impacting cross border financial services. A particular focus will be the Foreign Account Tax Compliance Act (FATCAa part of the US HIRE Act. FATCA is a major move in the US tax enforcement focus on so-called offshore issues, requiring information reporting about offshore assets that is backed up by penalties. Foreign banks must either agree to disclose information about US investors or be subject to a statutory withholding regime. Focused The Internal Revenue Service (IRS the 2001 Qualified Intermediary (QI not without its limitations, being focused mainly on ensuring that withholding tax relief is appro priate, and with almost no detailed information flows from the QIs to the IRS about the identity, income or overall tax position of any account holder. Not all foreign financial institutions choose to be a QI. IRS commissioner Douglas Shulman has described FATCA as "the most important development in international information reporting in a generation. It is a big step forward in our efforts to reduce tax evasion by creating transparency and accountability in the offshore finan cial markets. The four majort accounting firms are jointly coordinating the BFSB roundtable discussion that will focus on compliance implications in the new environment. The BFSB hopes members will be empowered to review/grow services to non-US persons who have a US connection, as well as US clients who increasingly are looking at diversification of portfolio and currency positions, and overall risk management. The Presenters will be representatives from the sponsoring firms: Lawrence Lewis, partner, Deloitte (Bahamas Jun Li, tax senior manager, Ernst & Young Joy Tegtmeyer, director-international tax services practice, PricewaterhouseCoopers Melinda T. Schmidt, director, KPMG LLP Lawrence Lewis has more than 16 years of professional experience in public accounting, risk advisory and management consulting services. He leads Deloitte's enterprise risk services prac tice, and serves as the FATCA programme leader for the Bahamas. Jun Li Jun is a New York-based senior manager in Ernst & Young's national financial ser vices asset management tax practice. He has experience in the financial services industry, serv ing asset management clients in the areas of hedge funds, private equity and international banks. Melinda T. Schmidt provides advisory services to domestic and foreign financial institutions with a focus on US tax information reporting and withholding requirements. Joy Tegtmeyer practices in the firm's New York office. She has been with PwC for over six years, serving primarily financial services clients msuch as banks, broker dealers, alternative investment funds, mutual funds and investment managers. She advises clients in addressing international tax matters such as tax planning for cross-border acquisitions, dispositions, and reorganisations, withholding taxes, permanent estab lishment issues, treaty interpretation, global effective tax rate planning, controlled foreign corporations, passive foreign investment companies, and effectively connected income. The event will be held in the Governor's Ball room of the British Colonial Hilton Hotel. B Y LARRY GIBSON E a rly Saturday morning, I had the opportunity to drive through the Oakes Field area and was c aptivated by the imposing presence of two structures. The first was the Harry C. Moore Library and Information Centre on the grounds of the College of the Bahamas (COB and the second was the National Stadium virtually next door.M y mind readily concluded that these two superstructures will form the foundation of our educational and sports policies, respectively, for many years to c ome. Importance of COB I fundamentally believe that growth and the transformation of our economy is inextricably t ied to our ability to produce a well trained workforce. A workforce that not only poss esses the skill-sets required by i ndustry today, but a workforce t hat is sufficiently trained to be adaptable and capable of being r etrained for future demands. Studies have long confirmed t hat a trained and educated workforce leads to increased productivity and innovation in t his new economy. It is no longer about producing bodies for the workforce but, rather, it is about producing productivew orkers who provide valuea dded benefits to employers. These are the shoes that COB and, to a lesser extent, o ther fully accredited tertiary i nstitutions must fill. I would encourage my readers to visit COBs website: http://www.cob.edu.bs/ and download and review the document entitled College to University Strategic Plan 20092019 It is an excellent and comp elling document that outlines how a University of the Bahamas (UOB make its contribution to national development. The following excerpt from the strategic plan sums up COBs proposition: Across the world, prosperity is increasingly linked to national capacity to meet global challenges, to innovate and develop new products and services. Nations now look to their universities as places where talented researchers, students and entre-p reneurs work together to develop products and services,w hich later become new busin esses and new social policies. I n Latin America and the Caribbean, it has been estimat-e d that 85-90 per cent of knowl e dge is generated by universities. The University of theB ahamas will be a driver of innovation, developing produ cts and processes which lead to a substantial improvement i n those products and processes, to the benefit of public and pri-v ate sectors. Concern H owever, one significant concern I have is the fact that o ur basic education system at the primary and secondary lev e l is in need of a major overhaul. For COB/UOB to suc c eed, we need a public educa tional system that produces quality feedstock. Are we prepared to open COB to large numbers of foreign students a nd provide financial aid in order to maintain the required q uality of incoming classes? Diversity is a desired quality in c ollege environments, and we seem to understand this argument well when it comes to our children getting spaces, financial support and other oppor t unities at institutions abroad. But have we opened our minds t o the benefits of international students at COB? Simply put, we must produce sufficient high school graduates who can meet the requirements to gain admission into ands ucceed at COB or any quality tertiary level institution. We all know that our basic educational system is broken, yet we continue to deny this and are quite content to apply bandaids to a gaping and very infected wound every couple of years. This is not good enough. I dont want to give the impression that I am being u nfair on the public system. For m any years now, I have quest ioned why the parents of so many private school students have to pay for extra-tutoring in mathematics, sciences, lan guages (including English so forth, on top of the $4,000 to $17,000 per annum that private high schools charge. We really need to ask ours elves some very fundamental q uestions about the state of e ducation in our country today. N ational Stadium T he enormity of this complex caught me by surprise. When the entire Queen Eliza beth Sports Centre (QESC completely developed, we will have something that is truly amazing for a country of our size. However, what is needed to augment QESC is a dormitory/residential complex. I understand that a key component of the master plan is the hosting of regional and international events. However, we are not ad estination that has an abundance of $50 per night rooms. The business plan for the Atlantiss and Baha Mars of this world does not contemplate the four to a room, $50 per r oom, per night crowd, hence m y call for a residential complex. The obvious operator of such a complex would be COBs School of Hospitality, which in addition to being adjacent toQ ESC, already has the restaur ant facilities and commercial kitchens in place. Therefore, it may be necessary to make additional public investment before the existing project has a chance of being financiallyv iable, notwithstanding the Chinese donation of the facility. F urthermore, I reckon that the annual upkeep/maintenance b ill alone will be about $2-3 million per year. Where is the revenue going to come from to support the operating cost of this facility? How much revenue can we reasonably expect to generate from the stadium?A lso, nobody is talking about the cost of infrastructural develo pment that the Government m ust bear in and surrounding the stadium. Do we have a final cost on these? These are but af ew questions that readily come to mind. Until next week NB: Larry R. Gibson, a Chartered Financial Analyst, is v ice-president pensions, Colo nial Pensions Services (Bahamass ubsidiary of Colonial Group International, which owns Atlantic Medical Insurance andi s a major shareholder of Secur ity & General Insurance Com pany in the Bahamas. The views expressed are t hose of the author and do not necessarily represent those of C olonial Group International or any of its subsidiary and/or affiliated companies. Pleased irect any questions or comm ents to Larry.Gibson@atlantichouse.co m.bs BUSINESS PAGE 2B, TUESDAY, JANUARY 18, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM ?D? $OOODQWVbRI :LQFKHVWHUWUHHWDOPGDOHEHWZHHQHDUVGDQG+DZNLQV+LOOf 3/$17(&+1,&,$1 Major investments that need right foundations Financial Focus B y Larry Gibson W ORKIN PROGRESS: P rogress continues on the construction of the n ew national stadium. VITALTOTHEFUTURE: The front entrance of the College of the Bahamas. BFSB hosts tax seminar COLLEGEOFTHEBAHAMAS N ATIONALSTADIUM JOY TEGTMEYER MELINDA T. SCHMIDT JUN LI JUN LAWRENCE LEWIS

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By ALISON LOWE Business Reporter Alowe@tribunmedia.net M ONTEGO BAY, Jamaica The Prime Minister of Jamaica threatened the possibility of a trade battle between the Caribbeana nd the United Kingdom on Sunday evening in the latest development over a passenger tax that has threatened British tourism a rrivals. The Air Passenger Duty (APD Minister of Tourism, Vinc ent Vanderpool-Wallace has previously condemned as unfair, went into effect earlier this year as the UK g overnment sought to find ways to collect much-needed revenue. Under the tax, different regions have been grouped i nto different bands, and t he Caribbean including t he Bahamas and Jamaica h ave found that passengers coming to the islands are now being asked to pay more tax to the British gov ernment than those visiting the US. N ew APD rates came into effect on 1 November, rais ing the duty from ( US$77) to (US $115) f or economy-class travellers t o the Caribbean, and from (US$154 (US$291 economy, business and firstclass passengers. The Bahamas and the Caribbean have been lobbying the UK g overnment to reconsider t he tax, saying it will hit hard UK tourist bookings to their islands. Speaking at the opening ceremony of the CaribbeanM arketplace tourism trade show in Montego Bay, Jamaica, on Sunday evening, Prime Minister of Jamaica, Bruce Golding said his gove rnment still maintains (the APD) is manifestly unjust to the countries of the Caribbean and has worked hard to impress on the UK government that it is not fair. Mr Golding himself, along w ith other regional leaders, have personally travelled to the UK to lobby the British government on the issue. Making supplications a nd going to London pleadi ng are not the only options w e have. There are other o ptions the Caribbean may have to consider against something which we believe may be in conflict with established global trading standardsNo option willb e left off the table. Let it be understood, we will secure justice in this matter o ne way or another, said M r Golding, in comments w hich most took to mean the Caribbean could lodge a complaint with the World Trade Organisation (WTO against the tax on the basis that it is discriminatory. Mr Vanderpool Wallace had no immediate comment when asked to respond toM r Goldings statement that e vening, but he has previo usly said the Bahamas supp orts Caribbean efforts to push the UK government to r econsider the matter. T he Bahamas is not as r eliant on UK tourist a rrivals as Jamaica, but such visitors do traditionally spend longer in the country t han American visitors, m eaning that those who do c ome generally spend more money in the country. In an interview with Tri bune Business yesterday, Jamaican Minister of Tourism, Edmund Bartlett, sought to downplay his P rime Ministers comments, t elling this newspaper the UK is expected to make an announcement on a review of the tax in March. We dont want to go in with the big stick first, he quipped. I think we want to go easy on that because It hink the UK government is looking at a review. They are expected to make a s tatement on APD reforms i n March, and there is quite a bit of speculation as to whether APD will still be in existence or it will be somet hing else. What is clear is that their desire to have .8 billion pounds remains. What we h ave been tying to drive towards is a design change t hat will allow the destinations to be re-banded so thatt he destinations of the C aribbean will not be put at a disadvantage, lets say, against the US, while at the same time recognising the need the UK has to reduce the debt. BUSINESS T HE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 3B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM &RPIRUWDEOHRRPVDW&RPIRUWDEOHDWHV5RRPVIURPMXVWSHUQLJKW S OXVJUDWXLW\5HVWDXUDXQWDQG%DU 5HFUHDWLRQRRPHHWLQJRRP6 $OEDQV'ULYH T axation policy as it relates to International Financial Centres (IFCs o ne of the key areas of discussion at the Bahamas Financial Services Boards (BFSB a l Business & Finance Summit, scheduled for January 21-23 in Freeport. Panelists involved in the tax developments s ession will discuss the main principles that drive the tax policy and negotiation of Double Taxation Agreements (DTAs countries. Comparing and contrasting DTAs, they will review the benefits that are on the negotiation table for small IFCs, what this promises for the next 10 years, and what action should be t aken by IFCs today. Panelists include Simon Beck and Brian Segal, partners at Baker & McKenzie, along with Melinda Schmidt, director of KPMG. They will look at these issues from the perspective of Latin Amer-i ca, Canada and the US. Baker & McKenzie partner Simon Beck is an international tax and trust lawyer with vast experience working in the world's trust and financial centres. His practice also includes US federal and international securities and banking regulations. H e advises financial institutions and governments on regulatory, legislative and strategy issues, and regularly conducts training sessions for executives on trust, tax, banking and securities issues. B rian Segal is a partner with the law firm of Baker & McKenzie, practising in the firms Toronto office. His specialty is income tax m atters, particularly in the cross-border area. He has been involved in transfer pricing strategy and dispute resolution, handling all phases of pricing matters over the years, including planning, documentation and audit defense. Melinda T. Schmidt is a tax director at KPMG where she prov ides advisory services to domestic and foreign financial institutions, with a focus on US tax information reporting and withholdingr equirements. Her focus includes the QI program and FATCA, and withholding and reporting requirements for tax-favoured accounts, s uch as IRAs and education savings. The Summit has been designed to encourage and empower business development in the Bahamian financial services industry. It will also profile the Bahamas to international advisors and clients attending the event, providing them with an opportunity to m eet a variety of Bahamian service providers. BFSB chief executive Wendy Warren said that having determ ined the W ay Forward t hrough its strategy development process, the organisation is encouraging industry stakeholders to work t owards creating the environment required to be a jurisdiction responsive to client and market requirements. Ms Warren said of IBFS: It serves to achieve the two primary roles of BFSB: the development and the promotion of the Bahamas as a leading international centre for business and finance,. IBFS, as its precursor event, spurs discussion and debate about the industry with a focus on trends and the future. Armed with this knowledge, the Bahamas is better positioned to be nimble and responsive. With clarity of objectives, the jurisdiction has a better opportunity to succeed, said Ms Warren. Tax policy focus for BFSB summit SIMON BECK BRIAN SEGAL Trade dispute hint over UKs air tax

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CSDs status, when questioned by this newspaper. That is my stated plan, and were still on target. We have a plan, the plan is being implemented precisely, and so far so good. We are continuing. The CSD, which is jointly owned by BISX, RoyalFidelity and CFAL, each hold ing one-third of its equity, is a vital back office component to the integrity and smooth functioning of the Bahamian capital markets, providing clearing and set tlement services for all share trades, and maintaining all shareholder registers. It will do this electronically. Emphasising that the CSD would reduce system risk associated with the clearing and settlement of all listed securities traded in the Bahamas, Mr Davies said of its benefits: For me to speak about increased efficiency and speed, that is not something the average investor will immediately notice. Settlement The thing the CSD brings to the forefront is a finality of settlement, so when a transaction occurs you are assured that the securities go from person A to person B. You are assured the monies related to the transaction go from account A to account B. A CSD essentially reduces system risk in the marketplace. Once you have that finality, it reduces the risk and speeds up the manner in which transactions occur. At the end of the day, there is no argument; the trade just settles. Mr Davies told Tribune Business the CSD would also provide higher securi ty for the beneficial owners of securities, maintaining their definitive ownership. Shareholders have their names appear on the regis ter, and there is no dispute over who owns the shares, the BISX chief executive said. It makes the overall market better for everyone. He added that it also supported other financial trans actions, such as the pledging of securities as collateral to banks or other financial institutions to obtain loans. This would be recorded by the CSD, protecting both banks and share owners, reducing their risk. These are the things that countries are rated on internationally, and having something that is secure, modern and electronic goes a long way to increasing the financial profile of a country, Mr Davies told Tribune Business. Describing the CSD as one of BISXs major projects for early 2011, Mr Davies said others included the further development of BISXs Rules and the listing facility for small Bahamian businesses with a market capitalisation of less than $1 million. As for other activities, Mr Davies said: We do believe that this year will see some activity we have not seen in the past, so we look forward to that in due course. The BISX chief executive said the CSDs implementation involved software, hardware and database issues, with the process aimed at ensuring all three arrived smoothly at the same place. BUSINESS PAGE 4B, TUESDAY, JANUARY 18, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM CUSTOMS DOES NOT HAVE A LEG TO STAND UPON ion was subject to any changes the Government might seek to make to existing laws, and of which he was not aware, Fred Smith QC, the Callenders & Co attorney and partner, told this newspaper that Freeport was being subjected to regulatory strangulation at the worst possible time given its economic condition. Arguing that Customs move to link approval of GBPA l icencee bond letters to production of National Insurance Board (NIB into chaos, Mr Smith said the move had deprived licencees of their legitimate rights to buy bonded or duty-exempt goods, depressing sales for Grand Bahama retailers and wholesalers. He added, though, that many businesses were reluctant to turn to the courts for redress because of the often-lengthy proceedings involved in Judicial Review hearings. While the case was being heard, many feared continued damage to their firmsin the absence of a bond letter. Efficient Calling for a more efficient Judicial Review process in the Bahamas, Mr Smith said he was pleased to see the Grand Bahama Port Authority stepping up to the plate and supporting the rights of licencees, following Tribune Businesss publication last week of a letter by Ian Rolle, its president, to the Prime Minister urging that the NIB/bonded letter situation be resolved. This is a partnership between the Government, the Port Authority and the licencees, and Im very pleased the Port Authority reached out in this fashion to the Government, Mr Smith said. I do hope between the three partners there can be some resolution to the total chaos that exists in Freeport. Freeport continues to be in the economic doldrums, and we need flexibility for our businesses to continue to survive, not regulatory strangulation. Analysing the legal basis for Customs decision to tie bonded letter issuance to NIB Good Standing, Mr Smith told Tribune Business: From a legal perspective, Customs does not have a leg to stand on. There is no provision in the Customs Management Act, no provision in the Hawksbill Creek Agreement, and no provision in the National Insurance Act that allow Customs or NIB to act in this way. It is a complete breach of the Hawksbill Creek Agreement, and something serious needs to be done. can say that I have been approached by a number of licencees to bring an action against Customs on this issue. Some are concerned about political intimidation and do notwant to be at the forefront, and others are uncomfortable issu ing proceedings. The problem with the inherent delay in the judicial system is they fear that if they do not obtain an NIB letter, their businesses will be affected. This highlights the need for a more efficient process in the judicial system. Mr Smith added: I have already been critical of delays in the Judicial Review process, which have been so prejudicial to theh earing of matters such as Save Guana Cay or Responsible D evelopment for Abaco on the BEC Wilson City issue. was very glad to see Mr Glinton was able to obtain a speedier Judicial Review for the Heasties and the other people involved with the matter in Nassau. I hope Judicial Review is given the priority in the Bahamas as it is elsewhere. Asked about the problems the NIB/bonded letter issue had created for Freeport, Mr Smith said: First of all, it createsu ncertainty in doing business and it throws everything into chaos. Secondly, it is depriving legitimate licencees of the oppor tunity to purchase duty exempt goods that are much needed at this time in Freeport for their businesses. Third, it is depriving retail sellers Dolly Madison, Kellys and Bellevue Business Depot from earning income on duty exempt sales. All around, it is a very bad and illegal thing that Customs has engaged in, and the challenge for Freeport businesses is that without an effective recourse to the courts, this raw abuse ofpower by the executive, which interferes with licencees, goes unchecked. The Callenders & Co QC added: Despite victory after vic tory against Customs and its abuses, Customs continues to ignore the judgments rather than treat them as applying across the board to licencees. The further negative repercussion for Freeport is that prospective investors see that the rule of law does not exist in Freeport. Justice delayed is justice denied, and for Customs to hold people to ransom is regrettable. It continues to create uncertainty in the business environ ment, and that is always bad for business. F ROM page 1B FROM page 1B BISX TARGETS FIRST QUARTER FOR SECURITIES DEPOSITORY END KEITH DAVIES Govt nets $300k through Business Licence reforms Zhivargo Laing, minister of state for finance, said that in adjusting the Busi-n ess Licence tax rate downwards from 0.75 per cent to 0.5 per cent for four i ndustries construction, the hotels, petroleum wholesalers and food wholesalers the Government would foregoa projected $2 million increase in taxes. Speaking to Tribune Business after a p ress conference to announce the latest Business Licence Act amendments, which were unveiled to the businessc ommunity at a Town Meeting last night, Mr Laing confirmed that among t hese were adjustments to the rates we were determined to levy on four industries that expressed about thei mpact. We have made some adjustments to these rates, so there are no increases of any significance whatso ever. The construction industry has already indicated its pleasure. M r Laing said the Government had moved to reduce the Business Licence taxes that would be paid by the fouri ndustries to what most of them would have been paying under the old r egime. Emphasising that the Governments intention behind the BusinessL icence Act reforms was not primarily to increase revenues, Mr Laing said: The result of the new calculation means that some people will be paying less, some people will be paying more,b ut we always intended it to be revenue neutral. In the totality of the exer cise, I think it came down on a net $300,000 positive for the Government. The minister also confirmed that the G overnment had amended the Act to allow for a clearly defined appeals process, whereby a business denied a licence could take the Revenue Secretarys decision to either the BusinessL icence Review Board or the Supreme Court. Were proposing amendments that w ill ensure people can appeal to the Board in one instance, to the Supreme Court in one instance, and decision of the Secretary for Revenue, yes, Mr Laing told Tribune Business. Thatw as one of the concerns that there appeared to be no appeal of his decis ion, at least in law. Sharlyn Smith, an attorney with S haron Wilson & Company, told Tri bune Business last year that Section 7 in the Business Licence Act gave seem-i ngly "extremely wide" powers to the Revenue Secretary to cancel, revoke or s uspend a company's Business Licence. Expressing fears that this could be used as a 'victimisation' tool, Ms Smitha dded that the Act did not stipulate for what period a company's licence could be suspended, and pointed out that the legislation's wording appeared to not permit any appeal to the Busi n ess Licence Review Board. While this Board was to be formed to hear all appeals against a decision made by the Revenue Secretary, the Act's wording only allows appealsu nder sections four, five, 11 and 21 of the legislation not section seven, which is what gives the Revenue Sec retary the power to suspend, cancel and revoke a company's businessl icence. Meanwhile, Mr Laing told Tribune Business the Government had alsoa mended the Acts definition of t urnover to remove occupancy taxes collected, a key concern of the hotel industry. There is an amendment to the definition of turnover that takes account o f the fact that occupancy taxes collected not be counted as turnover. That was one of them, he added. M r Laing reiterated that the Governments overriding objective was to m ake it easier to do business, pledging that under the reforms, once the application form was completed and all oth-e r necessary permits (health, environmental) were obtained, a new Business Licence applicant would hearf rom us at the Ministry of Finance within seven days. B usinesses did not need to apply for a licence renewal every year, instead just file their annual returns, and mul-t i-licence bureaucracy, such as the Liquor Licence, Shop Licence and M usic and Dance Licence had all been eliminated. We think were bringing some order t o the process, Mr Laing said. We have a much simpler way to calculate the taxes. I think we have made some progress. The Government has also had some s uccess in its revenue collection strategies, finding decades of arrears in business licenses fees and real property taxes. "We think we're making progress in a reas where we believe we were not as focused and as efficient as we could be, not as much progress as we need tom ake but we've been making some progress. Next month we are going to h ave the mid-year Budget exercise and we are going to have a full-disclosure," said Mr Laing. H e noted that revenue collecting officers recently put in place have had success in netting the government outstanding real property taxes on properties that were listed as vacant butr eally had $14 million homes built on them in some instances. The team has also been successful in tracking down businesses who have not paid license fees in "decades". F ROM page 1B The result of the new c alculation means that s ome people will be paying less, some people will b e paying more, but we a lways intended it to be revenue neutral. In the t otality of the exercise, I think it came down on a net $300,000 positive fort he Government. Z hivar g o Laing

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dous benefits from the now-annual marathon, sug-g esting that it was up to Bahamians to now maximise its potential, one way being to attract some of the 28,000 field that attends the Miami Marathon to these shores. Detailing the economic b enefits Marathon Bahamas had created, Mr Wilson told Tribune Business that, ina lliance with the Susan G. Komen Bahamas Race for t he Cure that was also held on Paradise Island on Saturday, the two events hadg ot some really influential and impactful people thinki ng about the Bahamas in ways that can only help us. The Sunshine Insurance c hief said Marathon Bahamas had gone from an inaugural one-day event toa full Thursday to Monday event, with runners andt heir friends/relatives arriving last week and going home yesterday. Some 1200-1500 visitors were estimated to have c ome to the Bahamas as a result of the marathon and Race for the Cure. Thats good for all the hotels, Mr Wilson told Tri bune Business. Satisf ied We are satisfied that Marathon Bahamas generated 2,500 room nights, at least, which at this time of year is significant to Bahamian tourism. This time of year is a very slow p eriod. Looking at the wider impact from Marathon Bahamas, Mr Wilson said there was evidence it hada ttracted additional wedding business for this nation, given that the winner got married in this nation the day before. Theres reason to believe the marathon played some role in where he decided to get married, Mr Wilson said, noting that evidence of the positive publicity benefits the marathon accrued for the Bahamas came from the fact that both mens and womens winners were from Germany. He added that last year, German journalists present at the inaugural event hadp roduced immense press for the Bahamas, and this w as a sign such coverage had borne fruit. And, while Marathon B ahamas last year had to incentivise merchants to e xhibit at the pre-race Expo, the 25 present this year paid t o be part of it, Mr Wilson said, with those involved ranging from spas to med-i cal doctors and health food providers. The range of persons exhibiting at the Expos is also evidence of growth,M r Wilson said, pointing to additional sponsors such as Royal Bank of Canada, Scotiabank and Robin Hood. There were also a wholel ot of people who joined us as sponsors who were not there last year. Thats a very healthy sign. When you look at the array of sponsors MarathonB ahamas had this year, its very difficult to find any oth er event with such a broad sponsor base. Very seldom do you see that in theB ahamas, the private sector coming together with that degree of breadth and depth. Other sponsors included Atlantis, Emera,S pirit, Diamonds International, Colombian Emeralds, P harmachem and BORCO. Pointing to the awesome power of the Susan G.K omen brand in its field, Mr Wilson said its entire leade rship had been here and were going back with posit ive vibes about the Bahamas. Spin-offs Asked about the potential e conomic spin-offs, he replied: Youve got to use your imagination as to where it could lead........ Weve already started somet alks with the Komen organisation. We will be the first Komen walk in its 30th year anniversary. Its up to us to decide w hat we make of it. From a b usiness point of view, we genuinely have a platform h ere that could impact the entire country....... We are very optimistic that nexty ear the trajectory could grow even higher. Apart from the corporate sponsorship and community group fund-raising potential, Mr Wilson said that 45 tops cientific minds on Friday addressed the issue of breast c ancer, why 300-500 women were diagnosed every year with this, and why the aver-a ge age in the Bahamas was 42 compared to 61 in the U S. He added that he had met L ee Moffett, who ran some of Floridas top cancer centres, for dinner, and Godk nows where that can lead. We have managed this w eek to get some really influential and impactful people thinking about theB ahamas in ways that can only help us, Mr Wilson told Tribune Business. Tonnes of people came here who did not run. The national president of t he Links organisation was here. Theres an opportunity here for this entire country to get tremendous benefits,b ecause weve just scratched the surface. There are a number of things the Bahamas has g oing for it, which causes us to be very optimistic about where we could go. Its a platform for anyone doing business in the B ahamas to work with us, because the skys the limit. One such project, he sugg ested, would be to attract those runners who went to Miami to the Bahamas. BUSINESS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 5B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 6W$OEDQV'ULYH %HDXWLIXOVSDFLRXVVWXGLRDSDUWPHQW )XOO\IXUQLVKHG SOXVHOHFWULFLW\ PRQWKVPLQLPXPVWD\ 7 Marathons 2500 nights put hotels on fast track F ROM page 1B FRANKLYN WILSON CROWD-PULLER: Sundays Marathon Bahamas drew big crowds. of involvement. Josef Forstmayr, president of the Caribbean Hotel and Tourism Association said that more buyers will be meet ing with more hoteliers at this years Caribbean Marketplace than in 2010, something he said indicates that the business is coming back in the industry. In a speech at the opening ceremony on Sunday, Mr Forstmayr said he hopes the region will strive for stronger advocacy of tourism, greater regional integration to help remove barriers to tourism within the destinations for Caribbean nationals who can, in turn, help to fuel the industry, and the creation and launch of a sustainable marketing fund for Caribbean tourism. He said such a fund is over a decade overdue. Stuart Bowe, newly-elected president of the Bahamas Hotel Association, who was in Montego Bay to attend the event this weekend, said the move to have the Bahamas host the event next year will augur well for the country as a destination. Being the host of a very prestigious event like this will be good for the Bahamas and the Caribbean, and its yet another opportunity for us to partner with the rest of the Caribbean on some of the key issues, he said. The Bahamas last hosted the Caribbean Marketplace in 2008 at the Atlantis resort. Hoteliers also welcomed the decision to have the Bahamas again host the event. Andrew Neubauer, director of aales and marketing at the Sheraton Nassau Beach Resort on Cable Beach, told Tribune Business he hopes the hotel will be able to lock in a considerable number of room nights at the resort through securing stays from delegates and media associated with the event. FROM page 1B Bahamas eyes 1500 visitor boost in

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RANDALL, AP Business Writer NEW YORK Orange juice isn't the only thing at your supermarket that's been squeezed. Rising food prices mean grocery store chains must absorb extra costs on items like meat, seafood, and produce, or they try to pass them along to customers. But many of those consumers are unemployed or have less money to spend, even on essentials. For n ow, the big chains are mostl y choosing to absorb. As a result, profits are falling, and so are their stocks, making them one of the few dim lights in the market in 2011. On Tuesday, Supervalu was the first of the grocers to report quarterly results, and the numbers for its fiscal third quarter were ominous: A loss of $202 million, or 95 cents a share, compared with a profit of $109 million, or 51 cents, in the same period a year earlier. The company, which operates Albertsons, JewelOsco, Acme and other chains, also cut its forecast for the year. "This is going to be a challenging year going forward to manage inflation," Supervalu CEO Craig Herkert told analysts Tuesday. "It's just a factand we believe these infla tionary measures are going to impact consumers." The result: "Investing in (grocers for the faint of heart," says Philip Gorham, an analyst at Morningstar. The pressures supermarkets are dealing with are felt elsewhere, too. Soaring commod-ity prices help energy and agriculture companies that produce raw materials. But there are plenty of losers fromt he commodity boom stuck trying to pass on higher costs to customers whose wages are not rising as quickly. Evidence of that came in the government's inflation report on Fri day. The Consumer Price I ndex rose 0.5 percent in D ecember, the largest increase in 18 months. Mostof that was due to higher gasoline prices. Food prices increased just 0.1 percent, suggesting grocers still aren't passing along higher costs on most items. Forty million Americans now rely on foods stamps, up 50 percent from four years ago, and the aver age price of gas now costs 12 percent more than it did at this time last year. That's one reason why middle and lower income consumers are increasingly going to super centers that offer less selec tion but cheaper prices than traditional grocery stores. Grocery sales at stores like Walmart, Target, and Costco grew at a rate of 10 percent a year over the past five years, according to Packaged Facts,a market research firm. Sales at traditional grocery stores are growing closer to 4 percent. For the first time last year Wal-Mart Stores Inc. generated more than half of its U.S. sales from groceries. The c ompany can offer cheaper produce than a supermarket because it can use its enormous purchasing power to buy complete crops of apples in Washington and sell them i n the U.S, Japan and South America, says Bernard Sos nick, a retail analyst at Gilford Securities. Not every grocer is feeling a pinch from higher commodity costs. Whole Foods Market,w hich caters to shoppers who don't mind paying extra for organic lettuce, isn't as sensi tive to the 2 to 3 percent bump in food prices this year predicted by the U.S. Department of Agriculture. WholeF oods' stock is up 88 percent in the past 12 months. "If you are an upscale operator your ability to pass on inflation is much greater, but the middle-income stores are up against tough competition," says Karen Short, an analyst at BMO Capital Markets who covers grocery stores. "The high-end con sumer is feeling better, but the middleand lower-income levels are feeling much worse." Traditional grocers already operate with low margins. The squeeze they are facing now is threatening those already slim margins. In D ecember, Kroger Co., the largest grocery chain, lowered its full-year profit forecast. Kroger, Supervalu Inc. and Safeway Inc. each lagged the Standard and Poor's 500 stock i ndex over the past six months. Supervalu was trad ing close to 18 in April. Now, after falling another 15 percent last week to $7.39, the stock is at its lowest point in nearly a quarter century. S upervalu trades at 6.3 times its estimated earnings, about a third of its five-year high. Kroger and Safeway each trade at around 12 times estimated earnings, well below their five-year highs.E ach offers a dividend yield of about 2 percent or greater, with Supervalu paying a 4.7 percent yield. The good news for grocers is that some value investors, who pick stocks they think are undervalued, are starting to wade in. Some 20 mutual funds added Supervalu over the past six months, according to FactSet. More than 40 bought Kroger or Safeway. Of course, nearly three times as many fund managers bought Whole Foods. ROB GILLIES, Associated Press TORONTO Canada is tightening mortgage rules over concerns Canadians are taking on too much debt, the country's finance minister announcedM onday. Finance Minister Jim Flaherty said the maximum amortization period for government-insured mortgages will be shortened to 30 years from 35 years. Ottawa is also lowering the limit on how much money Canadians can borrow using their homes as equity to 85 percent of the value, from 90. The new rules go into effect March 18. Flaherty said some Canadians are "borrowing to the max at low interest rates." Canada's central bank and the government have been urging Canadians for months to be wary of taking on too much debt. Household debt was a record 148 percent of disposable income in third quarter last year, exceeding the U.S. level of 147 percent. The government wants to ensure there is no mortgage meltdown in Canada when rates go up. "We do not want to facilitate excessive debt assumption by some Canadians at very low interest rates because that will lead to trouble in the medium and longer term," Flaherty said. Flaherty said he consulted with the top executives of Canada's major banks. In Canada's concentrated banking system, five major banks dominate the market and regulators know each of the top bank executives personally. JESSICA MINTZ, A P Technology Writer SEATTLE Apple Inc. CEO Steve Jobs, the charismatic frontman for the c ompany that overturned the smart phone industry and invented a new category of tablet computers, is taking a second medical leave o f absence in two years. In the last decade, Jobs, 55, has survived a rare but curable f orm of pancreatic cancer and undergone a liver transplant. The news that he will again step down from his day-to-day role raises serious questions about the CEO's health. But analysts believe the company Jobs shepherded from garage startup to a $65 billion technology trendsetter is in good hands witht he current slate of talented executives even as Apple, now the Silicon Valley player to beat, faces increasing competition. Jobs has played the role of industry oracle, seeming to know what consumers want even before they do. He is also known as a d emanding and hands-on leader who is involved in even the smallest details of product development. Investors have pinned much of t heir faith in the company on Jobs himself, sending shares tumbling on every bit of news or rumor of his ailing health. F or now, very little is known about Jobs' current condition. Apple did not provide any information beyond a six-sentence note from Jobs to employees announcing his leave, leaving unan swered questions about whether the CEO is acutely ill, whether the leave is related to his 2009 liver transplant or whether he is at home o r in a hospital. Unlike Jobs' 2009 leave of absence, when he vowed to return to w ork in just under six months, Jobs did not say in the note made public Monday how long he would be on leave this time. He said h e will continue as CEO and will be involved in major decisions. Chief Operating Officer Tim Cook will be responsible for all dayto-day operations. "I love Apple so much and hope to be back as soon as I can," Jobs wrote. "In the meantime, my family and I would deeply appreciate respect for our privacy." The company announced Jobs' leave a day before the company i s set to report quarterly earnings. U.S. stock markets were closed for the Martin Luther King Jr. holiday. I n Europe, investors reacted sharply and Apple's shares closed in Frankfurt a staggering 6.6 percent lower at 243 euros ($323.02 While some analysts expect Apple shares to sink Tuesday in the U.S., many believe the company can function successfully even without Jobs in the corner office full-time even with Apple at the forefront of a new revolution in personal computing. In 2010, investors seemingly grew accustomed to Jobs' extreme t hinness, focusing instead on the early success of the iPad with consumers. Shares increased 53 percent last year to top $300. With A pple no doubt polishing the second version of the iPad and com petition among tablet makers expected to heat up this year and next, some stockholders may fear that without Jobs, Apple could lose its lead to tablets running Google Inc.'s Android software or Microsoft Corp.'s Windows. Analysts believe Apple has plans for several years' worth of products in the pipeline. And Cook, who is seen as a logical event ual successor to Jobs, is no stranger to investors. He ran the Cupertino, Calif.-based company for two months in 2004 while Jobs battled pancreatic cancer, and again in 2009 during Jobs' most recent medical leave. Apple chugged along smoothly then, releasing a new version of the iPhone and updated laptops on schedule. Since Cook, 50, began with Apple in 1998, he has been credited with tuning Apple's manufacturing process to solve chronic product delays and supply problems. "Steve is clearly still the visionary behind Apple," said Tim Bajarin of Creative Strategies, who has been covering Apple for decades. But, Bajarin said, Cook "understands the way Steve thinks, how Steve manages. He understands Steve's vision and probably more important than anything else, he understands Apple. And I don't see any changes in direction or vision or execution even though Steve's not day-to-day." Apple's products can command a premium in part because of the design and the materials, choices made by Jonathan Ive, Apple's top design executive, and his team. Ive has been with Apple since 1996 and has overseen the industrial design of the iPod, the aluminum-body Macbook laptops, the iPhone and the iPad. "He's responsible for the look and feel of the stores, the products, the software. And no slight to Tim (Cook he's the most important person in the company," said Shaw Wu, an analyst for Kaufman Bros. Without more information about Jobs' medical condition, it's impossible to say when the CEO might be able to return to work if at all. Apple has a history of extreme secrecy when it comes to the iconic CEO's health, disclosing major illnesses only after the fact. The company waited until after Jobs underwent surgery in 2004 to treat a very rare form of pancreatic cancer an islet cell neu roendocrine tumor before alerting investors. That type of cancer can be cured if diagnosed early, unlike the deadlier and more common adenocarcinoma. By 2008, Jobs had lost a noticeable amount of weight, but Apple attributed his gaunt appearance to a "common bug." In January 2009, Jobs issued a statement saying the weight loss was caused by a hormone imbalance, and that the treatment was simple. He backtracked less than two weeks later, however, announcing a six-month medical leave. During that time, he received a liver transplant that came to light two months after it was performed. Methodist University Hospital Transplant Institute in Mem phis, which performed Jobs' 2009 transplant, said Monday that he is not a patient. It declined to comment on his current condition. Medical experts who do not treat Jobs can make some educated guesses. Dr. Michael Poryako, medical director of liver transplantation at Vanderbilt University Medical Center in Nashville, listed a slew of conditions that might be affecting Jobs, including jaundice and kidney and vascular problems not to mention side effects from the immunosuppressant drugs patients take following an organ transplant. However, he said it's unlikely Jobs' body is rejecting his liver two years after the transplant. "If the liver is functioning appropriately, people tend to return to normal muscle mass and normal physiologic functioning, which makes them feel better and look better," he said. (AP Photo/Paul Sakuma MEDICALLEAVE: Apple Computer Inc. chief executive Steve Jobs gestures as he unveils the first new Apple mini store in Palo Alto, Calif., Thursday, Oct. 14, 2004. Jobs attended a press conference, his first public appearance since he underwent cancer surgery in July. The 49-year-old executive took a month-long leave to recuperate and quietly returned to work full-time in September. Why supermarket stocks are getting squeezed (AP Photo/Tony Gutierrez FOODFORTHOUGHT: Shopping at theFamily Dollar store Tuesday, Dec. 14, 2010, in Waco, Texas. Apple CEO Steve Jobs takes medical leave INTERNATIONAL BUSINESS Canada enacts tougher mor tgage r ules

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BUSINESS THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 7B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM PABLO GORONDI, A ssociated Press Oil prices dropped to near $91 a barrel on Monday as the dollar gained against the euro, and after China's latest curbs on lending r aised the prospect of weaker demand for crude. B y early afternoon in Europe, benchmark oil for February d elivery was down 39 cents at $91.15 a barrel in electronic trading o n the New York Mercantile Exchange. The contract rose 14 c ents to settle at $91.54 a barrel on Friday. Floor trading was closed in New York due to the Martin Luther K ing holiday. The euro fell to $1.3312 from $1.3385 late Friday making crude, w hich is bought and sold in dollars, more expensive for investors holding the European common currency. C hina, the world's biggest energy consumer, on late Friday raised the amount of money banks must keep on reserve for the s eventh time in a year its latest move to curb lending and tame inflation. That suggested China's economic growth could slow further, denting demand for imported oil, which is trading near a twoyear high, and other fuels. D emand in the U.S. is also weaker at this time of year as New Year holidays are over and Americans are driving less. But any pos-i tive economic news from the U.S., the world's No. 1 economy, could lift oil to near $93 a barrel, energy consulting firm Cameron Hanover said in a report. Oil prices received some support from the monthly report from the Organization of Petroleum Exporting Countries which raised s lightly the forecast for demand for its crude. "In 2011, the demand for OPEC crude is expected to average 2 9.4 million barrels a day, an increase of 0.4 million barrels a day over the 2010 level and an upward revision of 0.2 million barrels a d ay over the previous assessment," the Vienna-based group said. In other Nymex trading in February contracts, heating oil fell 1.19 cents to $2.6333 a gallon and gasoline dropped 0.52 cent to $2.4894a gallon. Natural gas futures lost 0.7 cent to $4.473 per 1,000 cubic feet. MATTHEW PENNINGTON, Associated Press W ASHINGTON Chinese President Hu Jintao's high-profile visit to Washington this week comes as newl y elected Republican lawmakers are itching to act against what they see as an undervalued Chinese currency that is c osting American jobs. B ut they could run into resistance from their own party. In fact, Congress may be less likely to pass legislation on the i ssue than it had been last year, when both chambers were under Democratic Party control. A bill to give U.S. compan ies a means of challenging w hat they view as an unfair export subsidy sailed through the House of Representativest hen, but died in the Senate. Three Democratic senators Charles Schumer, Debbie Stabenow and Bob Casey p lan to introduce legislation this week to address the currency issue. "The American dream is imperiled" by China, Schumers aid in a conference call Monday with reporters. I f passed, the legislation would impose stiff new penalt ies on designated countries that misaligned currency in a way that unfairly harmed U.S. trade. Penalties would include tariffs on exports and a ban on any companies from those countries from receiving U.S. g overnment contracts. The new House speaker, R ep. John Boehner, voted against the bill. Rep. Dave C amp, now chairman of the House Ways and Means Com mittee that would screen any such legislation, voted in favor, but has appeared unenthusiast ic about focusing strictly on currency while ignoring trade b arriers and other issues. Without the support of such senior R epublicans, the bill may never reach the House floor for a v ote. S till, with unemployment at 9.4 percent and a presidential election looming in 2012, the issue won't go away. It is a prio rity for many lawmakers from both parties, including some new ones from the ultraconservative tea party movement thath as reinvigorated the Republic an Party and isn't afraid to challenge its leaders. C harles Freeman, a former U.S. trade negotiator with Chin a, was struck by the eagerness of new lawmakers to act whenh e participated in a recent brief ing for them. "This is a crowdt hat is anxious to do something," he said. U.S. manufacturers say the Chinese government intervenes in currency markets to hold d own the value of the yuan against the dollar by as much a s 40 percent, making Chinese products cheaper for Americ ans while increasing the price of U.S. goods in China. Since C hina announced it would a llow more flexibility in its exchange rate last June, the yuan has appreciated just 3 percent against the dollar. China's l eaders say relaxing currency controls too abruptly would damage its financial system, hurt its exporters and wipe outC hinese jobs. Ahead of his visi t, Hu said in written responses to questions from the Washi ngton Post that China has adopted a "managed floating e xchange rate regime" deter mined by the balance of inter n ational payments and supply and demand. He gave no indic ation that a major shift in the exchange rate was imminent. Currency is just one of many critical aspects of the U.S.-Chi na relationship. The economieso f the two giants are deeply intertwined. Trade between t hem is worth $400 billion, up from around $100 million 30 y ears ago when the U.S. formalized diplomatic relations with the communist government. The U.S. relies on China's purchase of Treasury secu-r ities to help breach the yawning budget deficit. The Obama administration also needs Beijing's cooperat ion on combating climate change, in dealing with reclusive North Korea which has recently unveiled a new means of making material for nuclearb ombs and bolstering the international pressure Iran on its nuclear program. The administration has tried t o strike a balance between pressuring China on currency while not undermining its relationship in other areas. U.S. Treasury Secretary Timo thy Geithner last week critic ized China for moving too slowly on allowing the yuan to a ppreciate, and said it was pursuing an untenable economicp olicy. But he still appears to favor a lower-key approach of c ontinuing to engage China on t he currency issue rather than using the blunt instrument of t he law, said Nicholas Lardy, senior fellow at the Peterson I nstitute for International Economics. Lardy said he expectsO bama would likely veto any currency legislation passed by C ongress, though the president has not taken a public stand. That is unlikely to deter lawm akers from trying again. Lindsey Graham, a veteran R epublican senator, said he planned to reintroduce a bill e arly this year to give the Trea sury more tools to act against China's currency "manipulation." Graham, who has for years joined forces on the issue w ith Democrat Sen. Charles Schumer, acknowledged "faultl ines" in his own party on whether to push currency leg i slation. New US lawmakers want action on China currency (AP Photo/Jeff Chiu OILPRICESSLIP: A man puts gas in his car at a Shell Station in Palo Alto, Calif., Thursday, Jan. 13, 2011. Oil prices fell to near $90 a barrel Friday as a disappointing U.S. jobs figure and a move by China to cool off economic growth dampened expectations of higher crude demand. Oil slips to near $91 after China tightening move (AP Photo/Susan Walsh GREETINGS: In this April 12, 2010, file photo, Chinese President Hu Jintao is greeted by President Barack Obama during the official arrivals for the Nuclear Security Summit in Washington. Jintaos high-profile visit to Washington this week comes as newly elected Republican lawmakers are itching to act against what they see as an undervalued Chinese currency that is costing American jobs.

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BUSINESS PAGE 8B, TUESDAY, JANUARY 18, 2011 THE TRIBUNE TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM 52wk-Hi52wk-LowSecurit y Previous CloseToday's CloseChangeDaily Vol.EPS $Div $P/EYield 1.260.97AML Foods Limited1.011.010.000.1500.0406.73.96% 10.759.67Bahamas Property Fund10.6310.630.000.0130.200817.71.88% 6.184.50Bank of Bahamas4.904.900.000.1530.10032.02.04% 0.580.18Benchmark0.180.180.00-0.8770.000N/M0.00% 3.492.70Bahamas Waste2.702.700.000.1680.09016.13.33% 2.152.14Fidelity Bank2.172.170.000.0160.040135.61.84% 12.509.62Cable Bahamas10.2110.210.001.0500.3109.73.04% 2.842.36Colina Holdings2.402.400.000.7810.0403.11.67% 7.005.40Commonwealth Bank (S1)6.856.850.000.4220.26016.23.80% 3.651.63Consolidated Water BDRs2.102.100.000.1110.04518.92.14% 2.551.60Doctor's Hospital1.601.600.000.1070.11015.06.88% 6.995.94Famguard6.076.070.000.3570.24017.03.95% 10.207.23Finco6.516.510.000.2870.52022.77.99% 11.408.77FirstCaribbean Bank9.399.390.000.6450.35014.63.73% 5.513.75Focol (S)5.475.470.000.3660.21014.93.84% 1.001.00Focol Class B Preference1.001.000.000.0000.000N/M0.00% 7.405.00ICD Utilities7.407.400.000.0120.240616.73.24% 10.509.82J. S. Johnson9.829.820.000.8590.64011.46.52% 10.0010.00Premier Real Estate10.0010.000.000.9910.80010.18.00% 52wk-Hi52wk-LowSecuritySymbolLast SaleChangeDaily Vol. 99.4699.46Bahamas Note 6.95 (2029BAH2999.460.00 100.00100.00Fidelity Bank Note 17 (Series A) +FBB17100.000.00 100.00100.00Fidelity Bank Note 22 (Series B) +FBB22100.000.00 100.00100.00Fidelity Bank Note 13 (Series C) +FBB13100.000.00 100.00100.00Fidelity Bank Note 15 (Series D) +FBB15100.000.00 52wk Hi 52wk Low Symbol Bid$ Ask$ LastPrice DailyVol EPS$ Div$ P/E Yield BISX LISTED & TRADED SECURITIES AS OF:7% Interest 7%RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)29 May 2015 W WW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-232019 October 2022 Prime + 1.75% Prime + 1.75% 6.95%20 November 2029MONDAY, 17 JANUARY 2011BISX ALL SHARE INDEX: CLOSE 1,480.07 | CHG 0.00 | %CHG 0.00 | YTD -19.44 | YTD % -1.30BISX LISTED DEBT SECURITIES (Bonds trade on a Percentage Pricing basis)Maturity 19 October 2017FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%30 May 2013 52wk Hi 52wk Low Symbol Bid $ Ask $ Last Price Daily Vol EPS $ Div $ P/E Yield 10.065.01Bahamas Supermarkets5.016.0114.00-2.9450.000N/M0.00% 0.550.40RND Holdings0.350.400.550.0010.000256.60.00% 41.0029.00ABDAB30.1331.5929.004.5400.0009.030.00% 0.550.40RND Holdings0.450.550.550.0020.000261.900.00% 52wk-Hi52wk-LowFund NameNAVYTD%L ast 12 Months %NAV 3MTH 1.51221.4076CFAL Bond Fund1.51795.51%6.90%1.498004 2.94742.8300CFAL MSI Preferred Fund2.94742.10%2.09%2.918697 1.57431.4954CFAL Money Market Fund1.57404.44%4.44%1.555464 3.20252.8522Royal Fidelity Bahamas G & I Fund2.720212.72%4.63% 13.638813.0484Royal Fidelity Prime Income Fund13.2825-0.63%-0.14% 114.3684101.6693CFAL Global Bond Fund114.36849.98%12.49%109.392860 106.552899.4177CFAL Global Equity Fund106.55284.75%7.18%100.779540 1.14151.0000FG Financial Preferred Income Fund1.14154.74%5.21% 1.11011.0000FG Financial Growth Fund1.11013.94%7.60% 1.14281.0000FG Financial Diversified Fund1.14284.78%5.90% 9.74859.1005Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 19.79504.85%5.45% 11.236110.0000Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 210.6417-1.20%0.50% 10.00009.1708Royal Fidelity Bah Int'l Investment Fund Principal Protected TIGRS, Series 39.6635-3.37%-3.37% 8.16434.8105Royal Fidelity Int'l Fund Equities Sub Fund8.39798.82%8.82% BISX ALL SHARE INDEX 19 Dec 02 = 1,000.00YIELD last 12 month dividends divided by closing price 52wk-Hi Highest closing price in last 52 weeksBid $ Buying price of Colina and Fidelity 52wk-Low Lowest closing price in last 52 weeksAsk $ Selling price of Colina and fidelity Previous Close Previous day's weighted price for daily volumeLast Price Last traded over-the-counter price Today's Close Current day's weighted price for daily volumeWeekly Vol. Trading volume of the prior week Change Change in closing price from day to dayEPS $ A company's reported earnings per share for the last 12 mths Daily Vol. Number of total shares traded todayNAV Net Asset Value DIV $ Dividends per share paid in the last 12 monthsN/MNot Meaningful P/E Closing price divided by the last 12 month earningsFINDEX The Fidelity Bahamas Stock Index. January 1, 1994 = 100 (S) 4-for-1 Stock Split Effective Date 8/8/2007 (S1) 3-for-1 Stock Split Effective Date 7/11/200730-Nov-10BISX Listed Mutual FundsNAV Date 30-Nov-10 30-Nov-10 30-Nov-10CFAL Securities Ltd. (Over-The-Counter Securities)TO TRADE CALL: CFAL 242-502-7010 | ROYALFIDELITY 242-356-7764 | FG CAPITAL MARKETS 242-396-4000 | COLONIAL 242-502-752530-Nov-10 30-Sep-10 31-Dec-10 31-Dec-10 31-Dec-10MARKET TERMS30-Nov-10 NAV 6MTH 1.475244 2.919946 1.538692 107.570619 105.776543 30-Jun-10 30-Nov-10 30-Nov-10 31-Dec-10 67(3+(10$/&2/0%$,/(< 0'RI3%R[6SDQLVK:HOOV(OHXWKHUD %$+$0$6 +$52/'(8*(1( +8*+(6RI)RUWXQH3RLQW'ULYH)RUWXQH%D\6 XEGLYLVLRQ)UHHSRUW*UDQG%DKDPD%$+$0$6 GABRIELE S TEINHAUSER, AP Business Writers PAN PYLAS, AP Business Writers B RUSSELS (AP ters of the 17 countries that use the euro are pressing aheadw ith an overhaul of their financial firefighting tools, but said a deal will require more debate over the coming weeks. F ollowing their first meeting of the year in Brussels on Monday, the currency union's top financial policymakers said they discussed "all the ingredients"o f a comprehensive package to deal with the region's crippling debt crisis, which already has forced Greece and Ireland to i mplement painful budget cuts in exchange for multibillion e uro bailouts. "All the ingredients of the s olutions we have to form are on table," said Jean Claude J uncker, who heads the eurogroup. "The discussion was broad and will be narrowed in the next couple of weeks." T he centerpiece of any p rospective deal will likely be an overhaul of Europe's euro750 billion ($1 trillion bailout fund, which was set up l ast spring alongside the euro110 billion bailout of Greece to soothe financial markets anxious over some coun-t ries' mounting debt levels. So far, it hasn't really convinced, with Ireland following Greece in the bailout club and mount ing fears that the debt crisis c ould spread to Portugal and Spain. B oth the European Union's executive Commission and the E uropean Central Bank have said that the fund needs more powers and more funds at its disposal to deal with any emer gency that may arise. Such new p owers could include the right to buy government bonds ont he open market to support their prices and keep vulnerab le countries' funding costs in check. "We shall improve our current existing financial backstops so that the so-called market f orces cannot even have the slightest doubt about our capac i ty to act even in the most stressed scenarios," said the E U's Monetary Affairs Commissioner Olli Rehn. Germany, the eurozone's effective paymaster, has so far ruled out any substantial increase of the fund's size. But German Finance Minister W olfgang Schaeuble indicated that his country would be prep ared to bolster the eurozone's contribution to the fund so it c an actually lend out the full headline amount. Eurozone governments make their euro440 billion contribution to the region's bailout fund b y guaranteeing bonds issued by the so-called European F inancial Stability Facility. The remaining euro310 billion come f rom the European Commission and the International Monetary Fund. However, to get a triple-A credit rating for the EFSF's bonds and make them attractive to investors gov e rnments had to guarantee 120 p ercent of their value, while b ailed out countries have to deposit a certain portion of the l oans they receive "as a cash buffer." T hat takes the EFSF's lending capacity down to only about euro250 billion, which most analysts say is insufficient to deal with a bailout of Spain, if it e ver arises. Spain's economy makes up about 10 percent of t he eurozone economy, more than Greece, Ireland and Port ugal combined. But discussions Monday went beyond boosting the fund's size, with the Commission pressing to give it powers t hat would allow it to do more than provide emergency loans f or countries. Rehn and Juncker declined t o elaborate of the details of ministers' discussions, but J uncker said ministers had also debated potentially lowering the interest rates charged in the Irish and Greek bailouts a move that would make it easier f or the two countries to repay their emergency aid even ast heir economies are shrinking. "We were discussing in gen e ral terms the question of lowering the interest rates we charge for countries, but we did not discuss this point in suffi cient detail to give you the likel y outcome," Juncker cau tioned. G iving the bailout fund the p ower to buy government b onds would reduce the load on the ECB, which has recentl y stepped up its role in the debt crisis by buying the bonds of t he more imperiled European countries. Not all the bank's governing council are convinced that it should be buying bonds at all so they would welc ome handing off all, or a large chunk, of that duty. F igures on Monday confirmed speculation that the E CB ramped up its bond buying last week, a clear indication it tried to help Portugal in the run-up to a crucial bond auction. D ata from the ECB showed the central bank spent e uro2.313 billion ($3.1 billion buying government bonds in t he markets, up sharply from the previous week's euro113 m illion. That took the total since the bond-buying program began in May to euro76.5 billion. Last week's total was the highest s ince the week to Dec. 10, when it spent around euro2.7 billiont o shore up confidence following the bailout of Ireland. D espite the lack of decisions on the bailout fund, the finance ministers did agree on one thing: In 2012, they will issue a special 2-euro coin to celebrate t he 10 years that the euro has been in European wallets. ROBERT BARR, Associated Press LONDON Shares in oil major BP rose Monday as the market welcomed its deal with Russia's Rosneft to explore the Arctic seabed, though key partners complained about being left out and U.S. politicians warned about national security risks. While the deal hedges BP's production options as it faces new restrictions in the United States following the disastrous Gulf of Mexico well blowout, analysts noted it is unlikely to yield results for years. Still, BP shares shot up 2.4 percent as the London Exchange opened on Monday before retreating to stand 1.5 percent higher at 507 pence ($8.06 which traded at about 655 pence before the Gulf of Mexico disaster, climbed back above 500 pence only last week. The stock was also helped Monday by news that BP had won exploration rights in the Ceduna Sub Basin off the south coast of Australia. The Russian deal gives Rosneft a 5 percent stake in BP, which in turn takes 9.5 of Rosneft shares. Rosneft shares were up 4 percent on the MICEX exchange in Moscow. Analysts in London say the move is a bold on by BP, but it will have to wait years for a payoff assuming that significant oil reserves are found. "The deal looks like a typically bold BP move accessing a new region considered highly prospective," Evolution Securities said in a research note. However, "this is an exploration opportunity so while it may be a good mediumto long-term strategic investment, delivery is years away." While the resources in the Arctic are potentially huge, analysts at Collins Stewart said BP's profit margin would be squeezed by the high costs of operating in the South Kara Sea and other Arctic waters. "While any production arising from the new agreement is still likely to be many years away, BP's commitment of significant additional capital to Russia is likely to be seen as a material negative shift in its risk exposure by many observers," Collins Stewart said. Alfa-Access-Renova, BP's partners in the joint venture TNKBP, protested that they were supposed to be the exclusive gateway for any BP deals in Russia, according to the Financial Times. "All new business opportunities in Russia and Ukraine must be pursued through TNK-BP," AAR's Chief Executive Stan Polets was quoted as saying. TNK-BP now provides about a quarter of BP's production, but a lower proportion of income, Collins Stewart said. Jonathan Jackson, head of equities at Killik & Co. in London, said the Rosneft deal is likely to hit opposition in the United States, which is seeking a moratorium on Arctic exploration. Europe debates overhaul of debt crisis response GREG KELLER, A P Business Writer TOULOUSE, France Airbus said Monday it took in 574 net new aircraft orders last year, beating rival Boeing Co. for the third year running as the international aviation market rebounded more strongly than expected from the steepest drop in its history. The Toulouse-based plane-making consortium said 2010 orders were worth $74 billion at list prices, that it delivered a record 510 aircraft last year, and predicted even more deliveries this year. A year earlier, Airbus took in just 271 net orders as the global economic slowdown led airlines to cancel or delay existing ordersa nd stop making new ones. Boeing this month reported that it took in 530 net orders in 2010 a nd delivered 462 aircraft. Airbus' 2010 order book was boosted by a late-December order by Richard Branson's Virgin America for 60 A320 single-aisle aircraft. Airbus said half of the order is for its new version of the aircraft, the A320neo, which is being designed to save carriersm oney by being more fuel efficient. Airbus CEO Tom Enders said the European jet builder will d eliver between 520 and 530 aircraft this year, and said orders will be higher than that. We've made tremendous progress, it makes me more optimistic on 2011 than I was for 2010," Enders said in a statement. Airlines that cut back during the downturn are now scrambling t o add jets to handle rising traffic as the international economy rebounds. Soaring jet fuel prices are also forcing carriers to look forn ewer, more efficient planes to replace gas-guzzling older models. Speaking to reporters ahead of the company's press confere nce Monday, Airbus top salesman John Leahy said fuel prices were "a small negative on the horizon" for Airbus. He called Airbus' planned A320neo "the solution," saying the upgraded version of the workhorse single-aisle A320 is planned to launch in 2016, offering 15 percent better fuel efficiency than the c urrent model. Airbus delivered 18 of its A380 superjumbo last year. It expects t o deliver between 20 and 25 this year before ramping up production to three per month in 2012. L ast year Airbus took in 32 new orders for the A380. Airbus says it tops Boeing in plane orders in 2010 (AP Photo/Manuel Blondeau NEWORDERS: Airbus CEO Tom Enders listens during the Airbus Annual Press Conference, in Toulouse, southwestern France, Monday, Jan. 17, 2011. CRISISTALKS: French Finance Minister Christine Lagarde, left, speaks with Spanish Finance Minister Elena Salgado during a meeting of eurogroup finance ministers at the EU Council building in Brussels, Monday, Jan. 17, 2011. Finance ministers of the 17 euro countries are locking horns Monday over how to fight their crippling debt crisis amid evidence that the European Central Bank has so far been taking on the burden of calming jittery bond markets. INTERNATIONAL BUSINESS BP shares rise on Arctic deal despite complaints A P P h o t o / V i r g i n i a M a y o

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WOMAN THE TRIBUNE TUESDAY, JANUARY 18, 2011, PAGE 9B TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM health BODYANDMIND T h e T r i b u n e YOUdon't have to be a doctor to save lives. You can simply be an indi vidual with a heart, regardless of age, gender, race or socio-economic back ground who wants to bring hope, health and happiness to others impacted by heart diseases, particularly children. Recently, two young Bahamians, who are philanthropists at heart, decided to follow the pattern set by Lady Sassoon and help to repair the hearts of children. Channing and Sean-Ryan Thomas, 6th and 8th grade students respectively, made the decision to donate the profits earned from their gumball machines, located in their father's office, over the past year to help a child receive heart care. These young entrepreneurs are the children of Dr Carlos and Loretta Thomas. Their decision came after they watched an ad about Joe DiMaggio Children's Hospital in Florida and noted the persons who come into their father's office needing financial support for medical care. Also, the children read their parents invitation to the heart ball and decided that this was where they wanted to donate money. They wanted to help children who need heart surgeries locally in The Bahamas. Channing came up with the idea on how to raise the funds. They were very excited about donating. Channing hopes to one day become a pediatrician or a veterinarian. Sean-Ryan says, I'd like to follow in my dad's footstep and become a pediatrician and a neona tologist. I can't think of a better way of starting to help children than donating to children needing heart surgeries. Loretta Thomas described her childrens decision as independent and inspiring. I think we ought to encourage our children. Children learn from their environment. Children learn from us. They mimic us. They emulate us. As parents, my husband and I try to pro vide the best nurturing, loving and teaching environment for our children. No matter how small or insignificant we may think the amount is, we should always encour age our children to be grateful receivers and heartfelt givers giving from the heart. One can give financially: every penny counts, every dollar counts. Or one can give of one's time or talent. Under the theme Saving little hearts for 50 years, one beat at time, the Heart Ball Committee will host the 47th Annual Heart Ball, Saturday, February 19, at Sheraton Nassau Beach Resort. This particular ball marks a significant milestone in the life of The Sir Victor Sassoon Bahamas Heart Foundation. The Foundation will celebrate its 50th year of existence. The Annual Heart Ball is the major fund raiser that helps to meet the demands of The Heart Foundation. There will be live toetapping performances by The Ed Brice Orchestra, The S-G Band (Soulful Groovers Bahamas Defence Force Dinner Band. There will be fabulous table prizes, raffle prizes and auction items, with an exclusive collection from John Bull. Tickets for regular seating are $250 per person. Premium seating and other accommodations are also available. Additionally, the public is invited to sponsor booklet ads, and make donations. Being a non-profit, all volunteer organisation, The Heart Foundation relies heavily on the generosity of others to meet their goals. Over 97 cents, of every dollar raised, goes directly to the aid of the chil dren. For information on ticket purchases or donations please contact the Heart Foundation at telephone number 327-0806. Children with a heart, helping childrens heart CARING HEARTS: Channing and Sean Ryan Thomas present their cheques to RE Barnes, the chairman of the The Sir Victor Sassoon Bahamas Heart Foundation This is part of the ongoing telemedicne programme which was introduced to improve the quality of care and decrease the fatality of trauma patients. Health officials say the telemedicine program will have a significant impact on the local health care system as it allows doctors to discuss cases and exchange ideas via, satellite technology. Minister of Health, Dr Hubert Minnis, who was present at the the press conference, said that the tele conference is an opportunity for doctors, surgeons as well as EMS personnel to keep up to date with technological advances in medicine. "This is an educational teleconferencing. We are interconnected with at lest ten other institutions worldwide, from Brazil straight up Canada," he said. W orking Together L ast week Jackson Memorial Hospital presented a case and the other hospitals will follow in the rotations. "The whole idea is a part of ongoing education so that our emergency room and our surgeons can remain on the cutting edge of education as well as technology so that when we have a difficult case we can present that to the world and be critiqued. This is part of our ongoing education and tele medicine program to ensure quality health care," Dr Minnis explained. If doctors locally run into a case that they have never seen before, the care can be presented and addressed during the teleconference. "From time to time we have diffi cult cases. And Jackson Memorial Hospital has presented some cases. If thats a difficult case then we would learn from that. We will present also and therefore we will be critiqued by the world which means that if you are presenting to the entire world you must be well versed. So we are learning new procedures and new processes will occur regularly. We want to continue an ongoing learning process which is excellent for the Bahamas and that is part of our moving forward and strategic planning," he explained. Dr Colin Bullard, who serves as the coordinator said when cases are presented :"We will be asked to com ment on how we have been managing such a case in the Bahamas and other countries likewise. We ask simple questions and we hear what other people in the region are doing. And all of this is in the effort to improve the quality of our patient care particularly as it pertains to trauma patients." Dr Bullard also said that the telemedicine program will have more impact on trauma patients. "As you know we are being overwhelmed with the amount of trauma patients coming to the accident emer gency department of the Princess Magaret Hospital. This is going to help us improve the care to the those patients and as we move forward, using this telemedicine technology, using this international collaboration, its going to ensure that we do this as cost effectively as possible. We want to try and get to the stage where the accident emergency department is a level one trauma centre at the same level as a wider trauma centre in Mia mi," he said. "Its going to improve the quality of patient care while trying to decrease the morbidity and the mortality to trauma paitents and help everybody invovled in the management of trau ma patients to be aware that trauma is a mutlidisciplinary specialty and we have involved everybody from the EMS personnel to the doctors in the emergency room to the operating, to ICU to rehabilitation." J A C K S O N M E M O R I A L H O S P I T A LP R I N C E S S M A R G A R E T H O S P I T A L A S part of the countrys efforts to stay on the cutting edge of health care and medical technology, the Ministry of Health in conjunction with Princess Magaret Hosptial, held an educational teleconference last week Friday. B y JEFFARAH GIBSON Tribune Features Writer

PAGE 21

T HETRIBUNE S S E E C C T T I I O O N N B B HEALTH: Body and mind TUESDAY, JANUARY 18, 2011 B yALESHA CADET Tribune Features Reporter A llison Catherine Rolle has quite a lot on her plate t hese days. In addition to being an aspiring physican, the 25year-old is a entrepreneur w ho along with her sister recently opened up a popular accessories store which has b ecome quite popular on Faceb ook. Allison is studying at the Saint Mary's University in Canada. She explains that it becomes a task managing school and her business. I am basically handling it by myself and it is a bit much, because it is hard trying to find someone to work in the store, so what I do is work by appointments until we get the chance to find someone. I took a semester off so I am stationary for a while. With support from her family, friends and those of like mind, the college student made it her duty to push until she finally opened her brand new store Essence of JS hoes & Accessories Loft, which now offers n ew fashion accessories right here in the Bahamas. "My sister is in partnership with me and I have always wanted and desired to get into opening my very own business for about five or six years now, it was just a matter of time," said Allison in an intervieww ith T ribune Woman She continued: We are fairly new, started in November of 2010 carrying earrings, rings, necklaces, that sort of stuff. We started off with just those things but we will be working and pushing towards offering shoes and bags in the future. She hopes that Essence of J can be a suc cessful adventure, and is counting on the support from her fan page and customers to make sure that they maintain business. "The store is a family oriented business, the letter J came from a sister of mine that passed away, she was also into fashion so the business is in memory of her. It was only right that she would be the face of Essence," she explained. E ssence of J customer, Alex Missick told Tribune Woman that she views the store as really trendy and sophisticated. She goes on to say that the store screams fabulosity from the decor to the actual jewelry she has to offer and it appears as though she takes real pride in what she does. I was surprised to see such a young person want to reach a different kind of woman, a more mature market of Bahamian woman. Giving her very own accessory and fash ion tips, Allison said: "A personal tip I like to share with people is you do not have to match everything, fashion is not about matching, it is about blending and finding colours that compliment your very own style. My pieces are very unique in terms of being very out there. I get a lot of clients saying they haven't seen this stuff before. She also offered advice to young women wanting to start a business such as hers. She encourages them to stay persistent. "There are going to be people that want you to fail but be persistent and keep at it, that is when you become successful," she said. When asked how long she plans to keep up with Essence of J, Allison said: This is definitely a long term investment, there are also a lot of other things I want to do that have not been introduced to the mar ket yet, and I want to get into that. The business has been progressing, we took it to Facebook and that is working out for now. My family, significant other and close friends have all been very supportive of it and this has been a growing experience for me, I have learned a lot these past months. Know another talented young lady making a postive impact in the community ? Send us an email at features@tribunemedia.net to have her featured in our next You Go Girl! By FASHION WRITER Associated Press FASHION risk-takers helped the red carpet at Sunday's Golden Globes live up to its reputation as the liveliest of the awards season, with Helena Bonham Carter leading the way in mismatched one red, one green shoes. She topped her multicolored, printed cocktail frock with a wacky hairdo woven with black netting. It can't be described as a do or a don't: It's just pure Bonham Carter. Olivia Wilde cleared her own path in an oversized chocolate-brown ball gown by Marchesa with beading that mimicked a starry night. "I'm a wide load give me 20 feet," Wilde joked. "I like wearing big dresses, it's fun. We go to so many parties in this town, the Globes are something to play with in terms of fashion," she added. Still, there was room at the Beverly Hilton Hotel in Beverly Hills, Calif., for waves of gowns in green, red, blue, black and blush tones. "I don't see an overall trend. It's not all about strapless or one look the way it's been so clearly in the past. You always hope to see individuality and you got it," said Cindy Weber Cleary, InStyle fashion director. She also noted there were more covered-up looks, save January Jones' strategically cutout top, and a rainbow of colors. Angelina Jolie wore a long-sleeve, green gown with subtle shimmer that matched the old-school style of Brad Pitt, looking very much the classic movie star in traditional bow tie. Meanwhile, Michael Douglas escorted Catherine Zeta-Jones in a green, textured-organza Monique Lhuillier with a textured skirt. As presenters, young Justin Beiber, in a three-piece Dolce & Gabbana tux, and Hailee Steinfeld in a Prabal Gurung ivory racerback gown, with a rubberized finish, were a glimpse at the future, though. "Glee" stars seemed like they were everywhere on the carpet: Lea Michele in a salmon pink Oscar de la Renta, Chris Colfer in Dior Homme, Dianna Agron in a delicate, subtly shiny J. Mendel with a heavy chain necklace by Cathy Waterman, and a Giorgio Armani-clad Cory Montei th and his silver bow tie. "I really was struck by the fact that so many men were in real bow ties," said Weber Cleary. "They have not been 'the thing' for a couple of years." Elisabeth Moss, in custom Donna Karan, and Mila Kunis also did green justice, and Amy Adams went with a teal, laser-cut gown by Marchesa. Blue was electric on Michelle Pfieffer, wearing a simple, sexy Roland Mouret, and Tina Fey channeled another era in a navy velvet L'Wren Scott. Several red looks commanded attention, especially Sofia Vergara's back lace-up corset by Vera Wang, Christina Hendricks' one-shoulder Romona Keveza with an oversized ruffled strap (to match her oversized 20-carat Chopard diamond earrings), and Jones' Versace. Jones actually requested this dress originally on the Versace runway in blue to be made in the bright lipstick hue. Black wasn't boring on Halle Berry, who wore a lingerie-style, minimalist mini by Nina Ricci. Surely the five stacked Harry Winston diamonds cuff bracelets weighed more than the barely there dress. Risk-takers fuel fun fashion on Globes carpet ACTRESS Lea Michele arrives at the Golden Globe Awards Sunday, Jan. 16, 2011, in Beverly Hills, Calif. (AP an for BEJEWELED: This necklace is one of Allisons personal favourites. It will take any outfit to the highest level of fabulousity. It's definitely an eye catching piece. FASHION EYE S S E E E E p p a a g g e e 1 1 1 1


THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 5B



Marathon’s 2500 nights put hotels on fast track



CROWD-PULLER: Sunday’s Marathon Bahamas drew big crowds.

FROM page 1B

dous benefits” from the
now-annual marathon, sug-
gesting that it was up to
Bahamians to now maximise
its potential, one way being
to attract some of the 28,000
field that attends the Miami
Marathon to these shores.

Detailing the economic
benefits Marathon Bahamas
had created, Mr Wilson told
Tribune Business that, in
alliance with the Susan G.
Komen Bahamas Race for
the Cure that was also held
on Paradise Island on Sat-
urday, the two events had
got “some really influential
and impactful people think-
ing about the Bahamas in
ways that can only help us”.

The Sunshine Insurance
chief said Marathon
Bahamas had gone from an
inaugural “one-day event to
a full Thursday to Monday
event”, with runners and
their friends/relatives arriv-
ing last week and going
home yesterday.

Some 1200-1500 visitors
were estimated to have
come to the Bahamas as a
result of the marathon and
Race for the Cure.

“That’s good for all the
hotels,” Mr Wilson told Tri-
bune Business.

Satisfied

“We are satisfied that
Marathon Bahamas gener-
ated 2,500 room nights, at
least, which at this time of
year is significant to
Bahamian tourism. This



FRANKLYN WILSON

time of year is a very slow
period.”

Looking at the wider
impact from Marathon
Bahamas, Mr Wilson said
there was evidence it had
attracted additional wedding
business for this nation, giv-
en that the winner got mar-
ried in this nation the day
before.

“There’s reason to believe
the marathon played some
role in where he decided to
get married,” Mr Wilson
said, noting that evidence of
the positive publicity bene-
fits the marathon accrued
for the Bahamas came from
the fact that both men’s and
women’s winners were from
Germany.

He added that last year,

Bahamas eyes 1500
visitor hoost in ‘12

FROM page 1B

of involvement.

Josef Forstmayr, president of the Caribbean Hotel and
Tourism Association said that “more buyers will be meet-
ing with more hoteliers” at this year’s Caribbean Market-
place than in 2010, something he said indicates that “the
business is coming back” in the industry.

In a speech at the opening ceremony on Sunday, Mr
Forstmayr said he hopes the region will strive for stronger
advocacy of tourism, greater regional integration to help
“remove barriers” to tourism within the destinations for
Caribbean nationals who can, in turn, help to “fuel the indus-
try, and the creation and launch of a sustainable marketing fund
for Caribbean tourism. He said such a fund is “over a decade

overdue”.

Stuart Bowe, newly-elected president of the Bahamas Hotel
Association, who was in Montego Bay to attend the event this
weekend, said the move to have the Bahamas host the event
next year will augur well for the country as a destination.

“Being the host of a very prestigious event like this will be
good for the Bahamas and the Caribbean, and it’s yet another
opportunity for us to partner with the rest of the Caribbean on

some of the Key issues,” he said.

The Bahamas last hosted the Caribbean Marketplace in

2008 at the Atlantis resort.

Hoteliers also welcomed the decision to have the Bahamas

again host the event.

Andrew Neubauer, director of aales and marketing at the
Sheraton Nassau Beach Resort on Cable Beach, told Tribune
Business he hopes the hotel will be able to “lock in” a consid-
erable number of room nights at the resort through securing
stays from delegates and media associated with the event.

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

German journalists present
at the inaugural event had
produced “immense press”
for the Bahamas, and this
was a Sign such coverage
had borne fruit.

And, while Marathon
Bahamas last year had to
“incentivise” merchants to
exhibit at the pre-race Expo,
the 25 present this year paid
to be part of it, Mr Wilson
said, with those involved
ranging from spas to med-
ical doctors and health food
providers.

“The range of persons
exhibiting at the Expos is
also evidence of growth,”
Mr Wilson said, pointing to
additional sponsors such as
Royal Bank of Canada, Sco-
tiabank and Robin Hood.
“There were also a whole
lot of people who joined us
as Sponsors who were not
there last year. That’s a very
healthy sign.

“When you look at the
array of sponsors Marathon
Bahamas had this year, it’s
very difficult to find any oth-
er event with such a broad
sponsor base. Very seldom
do you see that in the
Bahamas, the private sector
coming together with that
degree of breadth and

depth.” Other sponsors
included Atlantis, Emera,
Spirit, Diamonds Interna-
tional, Colombian Emeralds,
Pharmachem and BORCO.

Pointing to the “awesome
power” of the Susan G.
Komen brand in its field, Mr
Wilson said its entire lead-
ership had been here and
were “going back with posi-
tive vibes about the
Bahamas”.

Spin-offs

Asked about the potential
economic spin-offs, he
replied: “You've got to use
your imagination as to
where it could lead........
We've already started some
talks with the Komen organ-
isation. We will be the first
Komen walk in its 30th year
anniversary.

“It’s up to us to decide
what we make of it. From a
business point of view, we
genuinely have a platform
here that could impact the
entire country....... We are
very optimistic that next
year the trajectory could
grow even higher.”

Apart from the corporate
sponsorship and community

group fund-raising potential,
Mr Wilson said that 45 top
scientific minds on Friday
addressed the issue of breast
cancer, why 300-500 women
were diagnosed every year
with this, and why the aver-
age age in the Bahamas was
42 compared to 61 in the
US.

He added that he had met
Lee Moffett, who ran some
of Florida’s top cancer cen-
tres, for dinner, and “God
knows where that can lead”.

“We have managed this
week to get some really
influential and impactful
people thinking about the
Bahamas in ways that can
only help us,” Mr Wilson
told Tribune Business.
“Tonnes of people came

here who did not run.

“The national president of
the Links organisation was
here.

“There’s an opportunity
here for this entire country
to get tremendous benefits,
because we’ve just scratched
the surface.

“There are a number of
things the Bahamas has
going for it, which causes us
to be very optimistic about
where we could go.

“It’s a platform for any-
one doing business in the
Bahamas to work with us,
because the sky’s the limit.”

One such project, he sug-
gested, would be to attract
those runners who went to
Miami to the Bahamas.



Sandlewood Residences
St. Albans Drive

Beautiful spacious studio apartment.
Fully furnished
$550 to move in & $175 weekly
plus electricity
4 months minimum stay.

Tel: 325-1325 | 325-1408

























Senior Client Relationship Manager

Societe Generale Private Banking (Bahamas)

Lid., part of the Société Générale Group, is a

private bank providing a comprehensive

wealih managemnent service.

Societe Generale Private Banking is currently

looking to recruit a Senior Client Relationship

Manager. Your primary role will be to

introduce, maintain and grow profitable client

relationships in Latin America for Societe

Generale Private Banking (Bahamas) Ltd and

ensure adherence to legal, regulatory and

industry standards.

Yau should ideally hold the Chartered

Institute of Bankers Diploma or equivalent

professional qualifications, and have art least

8to 10 years’ international private banking!

marketing {sales experience. Strong

managerial and aperational skills is

mandatory

You should have excellent client relationship

and selling skills, an in-depth knowledge

SOCIETE GENERALE
Private Banking

Sethe Gandrake Mrevate Bankerrg (Bahama! Led. ta

litenied under Ehe Genk & Trost Lompinias Hegulabians: Act

of investment, trust and banking products

and fluenency in Spanish is mandadary .

Sone knowledge of Portuguese would be an

4sset, and proficient in the use of
Computers. The incumbent will be required
to travel on a regular basis to designated

marketing regions,

The position offers an attractive salary and

benefits package including, pension and

bonus schemes.

Applications should be submitted to the

fallowing acdidress, to arrive on or before 21

january 2011.

Head of Human Resources

Societe Generale Private Banking (Baharnas}

Lod
PO Box NFF789
Nassau

Bahamas


PAGE 6B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Why supermarket stocks.
are getting squeezed |

DAVID K. RANDALL,
AP Business Writer
NEW YORK

Orange juice isn't the only
thing at your supermarket
that’s been squeezed.

Rising food prices mean
grocery store chains must
absorb extra costs on items
like meat, seafood, and pro-
duce, or they try to pass them
along to customers. But many
of those consumers are unem-
ployed or have less money to
spend, even on essentials. For
now, the big chains are most-
ly choosing to absorb. As a
result, profits are falling, and
so are their stocks, making
them one of the few dim lights
in the market in 2011.

On Tuesday, Supervalu was
the first of the grocers to
report quarterly results, and
the numbers for its fiscal third
quarter were ominous: A loss
of $202 million, or 95 cents a
share, compared with a prof-
it of $109 million, or 51 cents,
in the same period a year ear-
ler. The company, which
operates Albertsons, Jewel-
Osco, Acme and other chains,
also cut its forecast for the
year.

"This is going to be a chal-
lenging year going forward to
manage inflation,” Supervalu
CEO Craig Herkert told ana-
lysts Tuesday. "It's just a fact
and we believe these infla-
tionary measures are going to
impact consumers.”

The result: "Investing in
(grocers) now is certainly not
for the faint of heart,” says
Philip Gorham, an analyst at
Morningstar.

The pressures supermarkets
are dealing with are felt else-
where, too. Soaring commod-
ity prices help energy and
agriculture companies that
produce raw materials. But
there are plenty of losers from
the commodity boom stuck
trying to pass on higher costs
to customers whose wages are
not rising as quickly. Evidence
of that came in the govern-
ment's inflation report on Fri-
day. The Consumer Price
Index rose 0.5 percent in
December, the largest
increase in 18 months. Most
of that was due to higher
gasoline prices. Food prices
increased just 0.1 percent, sug-
gesting grocers still aren't
passing along higher costs on







FOOD FOR THOUGHT: Shopping at the Family Dollar store Tuesday, Dec. 14, 2010, in Waco, Texas.





INTERNATIONAL
BUSINESS

most items. Forty million
Americans now rely on foods
stamps, up 50 percent from
four years ago, and the aver-
age price of gas now costs 12
percent more than it did at
this time last year. That's one
reason why middle and lower
income consumers are
increasingly going to super-
centers that offer less selec-
tion but cheaper prices than
traditional grocery stores.
Grocery sales at stores like
Walmart, Target, and Costco
grew at arate of 10 percent a
year over the past five years,
according to Packaged Facts,
a market research firm. Sales
at traditional grocery stores
are growing closer to 4 per-
cent.

For the first time last year
Wal-Mart Stores Inc. gener-
ated more than half of its U.S.
sales from groceries. The
company can offer cheaper
produce than a supermarket
because it can use its enor-
mous purchasing power to
buy complete crops of apples
in Washington and sell them
in the U.S, Japan and South
America, says Bernard Sos-
nick, a retail analyst at Gil-
ford Securities.

Not every grocer is feeling a
pinch from higher commodity
costs. Whole Foods Market,
which caters to shoppers who
don't mind paying extra for
organic lettuce, isn't as sensi-
tive to the 2 to 3 percent
bump in food prices this year
predicted by the U.S. Depart-
ment of Agriculture. Whole
Foods’ stock is up 88 percent
in the past 12 months.

"If you are an upscale oper-
ator your ability to pass on
inflation is much greater, but
the middle-income stores are
up against tough competi-
tion,” says Karen Short, an
analyst at BMO Capital Mar-
kets who covers grocery
stores. "The high-end con-
sumer is feeling better, but
the middle- and lower-income
levels are feeling much
worse."

Traditional grocers already

ROB GILLIES,
Associated Press
TORONTO

Kroger, Supervalu Inc. and
Safeway Inc. each lagged the

nearly a quarter century.

of about 2 percent or greater,

percent yield. The good news

Foods.

NOTICE

This is to inform the public that as of
January 10th, 2011

Mr DeVaughn M. Gow

UME

Jemi Health & Wellness
Company Ltd.

Therefore, HE IS NOT AUTHORIZED to
conduct any business or to act in any way for
Jemi Health & Wellness Company Ltd.


























LEGAL NOTICE
OLDENDORFF EXPRESS LINES LTD.

(In Voluntary Liquidation)

Notice is hereby given that the above-named
Company is in dissolution, commencing the 22"
day of November, 2010. Creditors having debts or
claims against the Company are required to send
particulars to Craig A. ony Gomez, Liquidator
of the said Company at the Offices of Baker Tilly
Gomez, The Deanery, No. 28 Cumberland Street,
P.O. Box N-1991, Nassau, Bahamas, within 30 days
from the date of this notice. In default thereof they
will be excluded from the benefit of any distribution
made by the Liquidator.

Dated the 24" day of December, 2010

Craig A. (Tony) Gomez
Liquidator

Monday.

85 percent of the value, from 90.
The new rules go into effect March 18.

meltdown in Canada when rates go up.

trouble in the medium and longer term," Flaherty said.

bank executives personally.

NOTICE

NOTICE is hereby given that LAURA LEA BAILEY OF P.O. BOX
EL-27585, SPANISH WELLS, ELEUTHERA, BAHAMAS, is
applying to the Minister responsible for Nationality and Citizenship,
for registration/naturalization as a citizen of The Bahamas, and that
any person who knows any reason why registration/naturalization
should not be granted, should send a written and signed statement of
the facts within twenty-eight days from the 8" day of JANUARY
2011 to the Minister responsible for Nationality and Citizenship,
P.O. Box N-7147, Nassau, The Bahamas.

NOTICE

NOTICE is hereby given that ANTHONY MACARTHUR TATEM
OF 31 BAHAMA BOULEVARD, FLAMINGO GARDENS,
P.O. BOX CR-54018, NASSAU, BAHAMAS, is applying to the
Minister responsible for Nationality and Citizenship, for registration/
naturalization as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should not be
granted, should send a written and signed statement of the facts within
twenty-eight days from the 8" day of JANUARY 2011 to the Minister
responsible for Nationality and Citizenship, P.O. Box N-7147, Nassau,
The Bahamas.



(AP Photo/Paul Sakuma)

? MEDICAL LEAVE: Apple Computer Inc. chief executive Steve Jobs ges-
? tures as he unveils the first new Apple mini store in Palo Alto, Calif.,
| : Thursday, Oct. 14, 2004. Jobs attended a press conference, his

: first public appearance since he underwent cancer surgery in July. The
? 49-year-old executive took a month-long leave to recuperate and
quietly returned to work full-time in September.

Apple CEO Steve Jobs
takes medical leave

i JESSICA MINTZ,
? AP Technology Writer
i SEATTLE

Apple Inc. CEO Steve Jobs, the charismatic frontman for the

— —— company that overturned the smart phone industry and invented
(AP Photo/Tony Gutierrez) :

? anew category of tablet computers, is taking a second medical leave
? of absence in two years.

In the last decade, Jobs, 55, has survived a rare but curable

5 i ? form of pancreatic cancer and undergone a liver transplant. The
operate with low margins. ? news that he will again step down from his day-to-day role raises
The SHMC EAS. they sane facing ? serious questions about the CEO's health.
now is threatening those }
already slim margins. In # startup toa $65 billion technology trendsetter is in good hands with
December, Kroger Co., the { the current slate of talented executives — even as Apple, now the

largest grocery chain, lowered } Silicon Valley player to beat, faces increasing competition.

its full-year profit forecast. }

But analysts believe the company Jobs shepherded from garage

Jobs has played the role of industry oracle, seeming to know what

? consumers want even before they do. He is also known as a
? demanding and hands-on leader who is involved in even the small-
Standard and Poor's 500 stock }
index over the past six }
months. Supervalu was trad- }
ing close to 18 in April. Now, }
after falling another 15 per- }

cent last week to $7.39, the ;

stock is at its lowest point in ? swered questions about whether the CEO is acutely ill, whether the

i leave is related to his 2009 liver transplant or whether he is at home
Supervalu trades at 6.3 } O74 aoe!
ae oe Haaren coed work in just under six months, Jobs did not say in the note made
eee ee public Monday how long he would be on leave this time. He said

high. Kroger and Safeway } he will continue as CEO and will be involved in major decisions.

each trade at around 12 times } Chief Operating Officer Tim Cook will be responsible for all day-

estimated earnings, well } to-day operations.
below their five-year highs. }

Each offers a dividend yield } Jobs wrote. "In the meantime, my family and I would deeply

? appreciate respect for our privacy."
with Supervalu paying a 4.7 }

est details of product development. Investors have pinned much of
their faith in the company on Jobs himself, sending shares tumbling
on every bit of news or rumor of his ailing health.

For now, very little is known about Jobs’ current condition.
Apple did not provide any information beyond a six-sentence
note from Jobs to employees announcing his leave, leaving unan-

Unlike Jobs' 2009 leave of absence, when he vowed to return to

"IT love Apple so much and hope to be back as soon as I can,"

The company announced Jobs’ leave a day before the company

: is set to report quarterly earnings. U.S. stock markets were closed
for grocers is that some value }
investors, who pick stocks }
they think are undervalued, }

are starting to wade in. Some }

20 mutual funds added Super- } U-S., many believe the company can function successfully even

valu over the past six months } without Jobs in the corner office full-time — even with Apple at the

according to FactSet. More } forefront of a new revolution in personal computing.
se ee ne tty : thinness, focusing instead on the early success of the iPad with con-
fn pee Haies ane many fund : Sumers. Shares increased 53 percent last year to top $300. With
: Apple no doubt polishing the second version of the iPad and com-
managers bought Whole ? petition among tablet makers expected to heat up this year and
? next, some stockholders may fear that without Jobs, Apple could

: lose its lead to tablets running Google Inc.'s Android software or

Canada enacts tougher mortgage rules

products in the pipeline. And Cook, who is seen as a logical even-
? tual successor to Jobs, is no stranger to investors. He ran the
? Cupertino, Calif.-based company for two months in 2004 while Jobs
i battled pancreatic cancer, and again in 2009 during Jobs' most
Canada is tightening mortgage rules over concerns Canadians are ; teceat EIS CleH eave: APD tlieg 0 clone amie ily thet eae

taking on too much debt, the country's finance minister announced } ing a new version of the iPhone and updated laptops on schedule.

for the Martin Luther King Jr. holiday.
In Europe, investors reacted sharply and Apple's shares closed
in Frankfurt a staggering 6.6 percent lower at 243 euros ($323.02).
While some analysts expect Apple shares to sink Tuesday in the

In 2010, investors seemingly grew accustomed to Jobs' extreme

Microsoft Corp.'s Windows.
Analysts believe Apple has plans for several years' worth of

Since Cook, 50, began with Apple in 1998, he has been credited

Finance Minister Jim Flaherty said the maximum amortization ae oe el olin aaa pidcese lo solve chromesprod:
period for government-insured mortgages will be shortened to 30 } WEL delays an SUED S proses.

eats Tree yeas, law aie lowering the fmnit oa tow Bajarin of Creative Strategies, who has been covering Apple for
much money Canadians can borrow using their homes as equity to } de ace

"Steve is clearly still the visionary behind Apple," said Tim

But, Bajarin said, Cook "understands the way Steve thinks,

Flaherty said some Canadians are "borrowing to the max at HW Sieve ae a ao seas eee ane ee
low interest rates." Canada's central bank and the government have } ae merainangs AnanyE die else, he understands Apple, Aud
been urging Canadians for months to be wary of taking on too } in : ae pas ee re ae oee OF VISION OF SxeCHHOl eye
much debt. Household debt was a record 148 percent of disposable } EASE oteves Dobe ta ua:

income in third quarter last year, exceeding the U.S. level of 147 } : : : ‘
: : design and the materials, choices made by Jonathan Ive, Apple's

percent. The government wants to ensure there is no mortgage } : ; : : ;

? top design executive, and his team. Ive has been with Apple since

"We do not want to facilitate excessive debt assumption by 1996 and has overseen the industrial design ot the iPod, the ali-
some Canadians at very low interest rates because that will lead to : minum-bedy Macbook laptops, the iPhone and the iPad,

Apple's products can command a premium in part because of the

"He's responsible for the look and feel of the stores, the prod-

Flaherty said he consulted with the top executives of Canada's nets, the software. And 16-slight to Tim (Coo k), but we think
: ' : . . ¢ he's the most important person in the company,” said Shaw Wu, an

major banks. In Canada's concentrated banking system, five major } aneduat Yor Kaminak Bros

banks dominate the market and regulators know each of the top } y :

Without more information about Jobs' medical condition, it's

: impossible to say when the CEO might be able to return to work
: —ifatall.

Apple has a history of extreme secrecy when it comes to the icon-

ic CEO's health, disclosing major illnesses only after the fact.

The company waited until after Jobs underwent surgery in 2004

: to treat a very rare form of pancreatic cancer — an islet cell neu-
? roendocrine tumor — before alerting investors. That type of can-
? cer can be cured if diagnosed early, unlike the deadlier and more
? common adenocarcinoma.

By 2008, Jobs had lost a noticeable amount of weight, but Apple

attributed his gaunt appearance to a "common bug.”

In January 2009, Jobs issued a statement saying the weight loss

: was caused by a hormone imbalance, and that the treatment was
: simple.

He backtracked less than two weeks later, however, announcing

; a six-month medical leave. During that time, he received a liver
? transplant that came to light two months after it was performed.

Methodist University Hospital Transplant Institute in Mem-

phis, which performed Jobs' 2009 transplant, said Monday that he
: is not a patient. It declined to comment on his current condition.

Medical experts who do not treat Jobs can make some educat-

: ed guesses.

Dr. Michael Poryako, medical director of liver transplantation

? at Vanderbilt University Medical Center in Nashville, listed a
? slew of conditions that might be affecting Jobs, including jaundice
? and kidney and vascular problems — not to mention side effects
? from the immunosuppressant drugs patients take following an
? organ transplant.

However, he said it's unlikely Jobs’ body is rejecting his liver two

; years after the transplant.

"If the liver is functioning appropriately, people tend to return

to normal muscle mass and normal physiologic functioning, which
? makes them feel better and look better," he said.

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

TUESDAY, JANUARY 18, 2011, PAGE 7B







Ep

demand.

Oil slips to near $91 after
China tightening move

PABLO GORONDI,
Associated Press

raised the prospect of weaker demand for crude.

cents to settle at $91.54 a barrel on Friday.

King holiday.
The euro fell to $1.3312 from $1.3385 late Friday making crude,

holding the European common currency.

inflation.
That suggested China's economic growth could slow further,

year high, and other fuels.
Hanover said in a report.

slightly the forecast for demand for its crude.

feet.

? MATTHEW

: PENNINGTON,

: Associated Press
: WASHINGTON

(AP Photo/Jeff Chiu) :
OIL PRICES SLIP: A man puts gas in his car at a Shell Station in Palo :
Alto, Calif., Thursday, Jan. 13, 2011. Oil prices fell to near $90 a bar- :
rel Friday as a disappointing U.S. jobs figure and a move by Chinato :

cool off economic growth dampened expectations of higher crude ;
: what they see as an underval-

? ued Chinese currency that is
? costing American jobs.

Chinese President Hu Jin-
tao's high-profile visit to Wash-
ington this week comes as new-
ly elected Republican lawmak-
ers are itching to act against

But they could run into resis-

: tance from their own party. In
? fact, Congress may be less like-
? ly to pass legislation on the
} issue than it had been last year,
: when both chambers were
? under Democratic Party con-
} trol. A bill to give U.S. compa-
Oil prices dropped to near $91 a barrel on Monday as the dollar } whi a re ol oe
gained against the euro, and after China's latest curbs on lending : “ a they view 25 aH Witte
} export subsidy sailed through
By early afternoon in Europe, benchmark oil for Februar i the House of Representatives
Selvery a down 39 cents at $91.15 a barrel in electronic adie i then bul Gied a tie Seale

on the New York Mercantile Exchange. The contract rose 14 — Charles Schumer, Debhic

Floor trading was closed in New York due to the Martin Luther Stabenow and Bob Casey —
: plan to introduce legislation this
: week to address the currency

Ss : ‘ : ? issue.
which is bought and sold in dollars, more expensive for investors }

Three Democratic senators

"The American dream is

China, the world's biggest energy consumer, on late Friday : ne a China, een
raised the amount of money banks must keep on reserve for the } ae - 4 oa ony eae
seventh time in a year — its latest move to curb lending and tame } ss leone tees ge

If passed, the legislation

: would impose stiff new penal-

denting demand for imported oil, which is trading near a two- } ties on designated countries
: that misaligned currency in a

Demand in the U.S. is also weaker at this time of year as New } es | cee enn a :
Year holidays are over and Americans are driving less. But any pos- | '7*< rs beeen ins A ae ee
itive economic news from the U.S., the world's No. 1 economy, } paris Om Capos Fa a ce on
could lift oil to near $93 a barrel, energy consulting firm Cameron } @2Y Companies ‘Tom those
? countries from receiving U.S.

Oil prices received some support from the monthly report from : BOVE ramen) COMUACIS:

the Organization of Petroleum Exporting Countries which raised Rem: Joht Bochner, voted

"In 2011, the demand for OPEC crude is expected to average } oy tne ae Bey ae
29.4 million barrels a day, an increase of 0.4 million barrels a day } erie . rae a .
over the 2010 level and an upward revision of 0.2 million barrels a } aaa ‘nea es ld makes
day over the previous assessment," the Vienna-based group said. } ae t . oo ee any
In other Nymex trading in February contracts, heating oil fell 1.19 } SUCTUSS!S Bon Oleg) layer

cents to $2.6333 a gallon and gasoline dropped 0.52 cent to $2.4894 } Gcabout . raed
a gallon. Natural gas futures lost 0.7 cent to $4.473 per 1,000 cubic } "O #D0Ut focusing SiTictly on
? currency while ignoring trade

? barriers and other issues. With-

The new House speaker,

but has appeared unenthusias-



(AP Photo/Susan Walsh)
GREETINGS: In this April 12, 2010, file photo, Chinese President
Hu Jintao is greeted by President Barack Obama during the official
arrivals for the Nuclear Security Summit in Washington. Jintao’s
high-profile visit to Washington this week comes as newly elected
Republican lawmakers are itching to act against what they see as an

undervalued Chinese currency that is costing American jobs.

out the support of such senior
Republicans, the bill may never
reach the House floor for a
vote.

Still, with unemployment at
9.4 percent and a presidential
election looming in 2012, the
issue won't go away. It is a pri-
ority for many lawmakers from
both parties, including some
new ones from the ultraconser-
vative tea party movement that
has reinvigorated the Republi-
can Party — and isn't afraid to
challenge its leaders.

Charles Freeman, a former
US. trade negotiator with Chi-
na, was struck by the eagerness
of new lawmakers to act when
he participated in a recent brief-
ing for them. "This is a crowd
that is anxious to do some-
thing,” he said.

US. manufacturers say the
Chinese government intervenes
in currency markets to hold
down the value of the yuan
against the dollar by as much
as 40 percent, making Chinese

products cheaper for Ameri-
cans while increasing the price
of U.S. goods in China. Since
China announced it would
allow more flexibility in its
exchange rate last June, the
yuan has appreciated just 3 per-
cent against the dollar. China's
leaders say relaxing currency
controls too abruptly would
damage its financial system,
hurt its exporters and wipe out
Chinese jobs. Ahead of his vis-
it, Hu said in written responses
to questions from the Wash-
ington Post that China has
adopted a "managed floating
exchange rate regime" deter-
mined by the balance of inter-
national payments and supply
and demand. He gave no indi-
cation that a major shift in the
exchange rate was imminent.
Currency is just one of many
critical aspects of the U.S.-Chi-
na relationship. The economies
of the two giants are deeply
intertwined. Trade between
them is worth $400 billion, up

sitopattendatie)

=| N ew US lawmakers want

from around $100 million 30
years ago when the USS. for-
malized diplomatic relations
with the communist govern-
ment. The US. relies on Chi-
na's purchase of Treasury secu-
rities to help breach the yawn-
ing budget deficit.

The Obama administration
also needs Beijing's coopera-
tion on combating climate
change, in dealing with reclu-
sive North Korea — which has
recently unveiled a new means
of making material for nuclear
bombs — and bolstering the
international pressure Iran on
its nuclear program.

The administration has tried
to strike a balance between
pressuring China on currency
while not undermining its rela-
tionship in other areas.

US. Treasury Secretary Tim-
othy Geithner last week criti-
cized China for moving too
slowly on allowing the yuan to
appreciate, and said it was pur-
suing an untenable economic
policy. But he still appears to
favor a lower-key approach of
continuing to engage China on
the currency issue rather than
using the blunt instrument of
the law, said Nicholas Lardy,
senior fellow at the Peterson
Institute for International Eco-
nomics. Lardy said he expects
Obama would likely veto any
currency legislation passed by
Congress, though the president
has not taken a public stand.

That is unlikely to deter law-
makers from trying again.

Lindsey Graham, a veteran
Republican senator, said he
planned to reintroduce a bill
early this year to give the Trea-
sury more tools to act against
China's currency "manipula-
tion." Graham, who has for
years joined forces on the issue
with Democrat Sen. Charles
Schumer, acknowledged "fault
lines" in his own party on
whether to push currency leg-
islation.

a=

ES a ANIM tim SIG LE Bi
2010 BIC & BECSE

National Awards Presentation Ceremony & Exhibition

“Rewarding Excellence iin National Examinations”
Thursday, 20th January, 2011 at 10:00 a.m.
CHURCH OF GOD AUDITORIUM (Joe Farrington Road)

Abraham Abel
Adama, Nathania
Adderley, Chamice
Adderley, Dawina
Adderley, Natalia
Adderley, Ashley
Adderley, Khiry
Adderley , Chantal
Alao, John
Albury, Jeruzha
Anderson, Lyric
Anderson, Toneshin
Archer, Jordan
Armbrister, Laquinton
Annbnster, Parge
Bain, Kyle
Bannister, Glenn
Bascom, Kern
Bethel, Pholan
Bethell, Chante
Bethell, Roddae
Rowe, Lynde
Bowe, Cednc
Bowe, Giowano
Bridgewater, Frednca
Brooks, Wilkia
Brown, Eeishaun
Brown, Dion
Brown, Damona
Brown, Kirnal
Brown, Darron
Burreeys, Ashley
Burrows, Gian
Buller, Mula
Cartunght, Dylan

Cartwright, John
Cartwright, Miguel
Cates, Rachel
Chante , Chante
Charles, Jewel
Charlton, D'Mitry
Charlion, Rodemha
Coleby, Rosshanique
Culmer, Shanette
Culmer, Alithea
Dames, Raynell
Davis, Azann

Davis, Thavwon
Dean, Julian

Dean, Ostonyah
Delancy, Terah
Delaney, Dante
Deveaux, Dominique
Deveaux, Daruelle
Devenux, Dominique
Duneanson, Jozh
Buenne, Carleen
Bbhenne, Jove

Evans, Sher!
Ferguson, Shelleta
Perouson, Dawn
Fleurentin, Annekathy
Fraser, Ashten
George, Christine
Gibson, Hilniqua
Gibson, Brianne
Godet, Stomen
Gomer, Glendia
Govinduraju, Arvind
Gmham, Fay =Sasha

Grant, Juliann
Gulati, Akash
Hanna, Jazmine
Hanna, Garvin
Hanna Jr., Peter
Hegde, Stuthi
Hinds, Arcel
Jaoob, Abhishek
Jones, Aisha
Relly, Adnanne
Relly, Jordanna
Kemp, Jager
Renny, Treasure
Enowles, Jenera
Knowles, Anissa
Roowles, Raquel
Knowles, Raven
Rodi, Neha
Lightbourne, avian
Lopez, Dulce
Low, Dylan
Lowe, J° Qusanne
Lowe, Aly ssa
Lowe, Amel
Lundy, Onisa
Lyons, Christa
Mackey, Amy
Major, Gavin
Martiniorcugh, Alex
MMasekenuba, Joshua
Moyeock, Pedro k
McKenzic, Inga
McPhee, Relsey
McQueen, Jade
Miller, Grenee

Listing of Awardees

Miller, Kadijah

Mingo, Britanny
Mirpur, Suraj

Montez Smith, Charles
Moore, Koy arc

Moss, Anmanda

Moss, Niaya

Moxey, Rajahl

Moxey, Jenchovia
Munillo-Vasquer , Melanie
Neely, Uhedro
Nottage, Olivia
Nottage, Shards

Gene, Felanda
Phillpet, Alexandra
Pinder, Samann
Pinder, Da"Nae

Pinder, Bernique
Powell, “ahra

Pratt, Arittamey

Pratt, Camille
Prophete, Tonika
Redgrave, Paul

Butch, Brittany Olive
McPhos, Raqueisha
Rulehie, Kyra

Roberts, Cheyanne Jasmine
Robinson, Tamara
Rolle, Aliyah

Rolle, Ricquell

Rolle, Rirgquenique
Rolle, Cardia

Sands, Danielle

Sands, Paige, Courtmey
Saunders, Myron

Persons attending are expected to be =o by G:45 i

i

. a
ae

Rose, Charles A.
Russell, Briconna
Saunders, Chante
Sounders, Trevine
Seymour, Lindy
Smith, Alicia
Smith, Jarrell
Smith, Jarrell

Stow, Ashanti
Strachan, Rebeoca
Strachan, Janes
Stubbs, Paytan
Suca, Waber

Swan, Taneshia
Sweeling, Winston
Taylor, Tenrannise
Telusnord, Bobby
Thomas, Earl
Thompson, Hanna
Todd, Jerel Anthony
Toote, Brendan
Toote, Selandia
‘Toote, Celisan
Turenne, Vanessa
Villalobos, Juan
Vineent, Lheimts
Walker, Matthew
Wallace-Whitfiel, Angelika
Wells, Salathiel
Wert, Karen
Williams, Kenteeshe
Williams, Chelsea
Wright, Camille Anna-Kaye

— =

ait rere will be open for viewing by schools and the public Fal) iy) ee

2011 after the ceremony and Friday 21st January,

from 1: nm + des)

00 p.m. on Thursday, z
2011 during the hours of 9 00 a.m. to 4:00 p.m
STUDENTS MUST BE CHAPERONED BY THEIR TEACHERS!



TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNE242.COM
PAGE 8B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Airbus says it tops Boeing
CSP

(AP Photo/Manuel Blondeau)

day, Jan. 17, 2011.
GREG KELLER,

AP Business Writer
TOULOUSE, France
expected from the steepest drop in its history.

aircraft last year, and predicted even more deliveries this year.

and stop making new ones.

and delivered 462 aircraft.

money by being more fuel efficient.

be higher than that.

mistic on 2011 than I was for 2010," Enders said in a statement.

were "a small negative on the horizon" for Airbus.

He called Airbus’ planned A320neo "the solution,” saying the : Pa
upgraded version of the workhorse single-aisle A320 is planned to } Patan ane ta
launch in 2016, offering 15 percent better fuel efficiency than the } wai ated he dace ance

Airbus delivered 18 of its A380 superjumbo last year. It expects } power and more tunds a as
te deliver ek 30 and 25 thi bef : act disposal to deal with any emer-
o deliver between 20 an is year before ramping up produc- i gency that may arise. Such new
? powers could include the right
? to buy government bonds on

: the open market to support

current model.

tion to three per month in 2012.
Last year Airbus took in 32 new orders for the A380.

NOTICE

NOTICE is hereby given that HAROLD EUGENE

HUGHES, JR. of #9, Fortune Point Drive, Fortune Bay
Subdivision, Freeport, Grand Bahama, BAHAMAS, is
applying to the Minister responsible for Nationality and

Citizenship, for registration/naturalization as a_ citizen
of The Bahamas, and that any person who knows any
reason why registration/naturalization should not be
granted, should send a written and signed statement of
the facts within twenty-eight days from the 11' day of
January, 2011 to the Minister responsible for nationality
and Citizenship, P.O. Box N-7147, Nassau, Bahamas.





of debt c

: GABRIELE
: STEINHAUSER,
: AP Business Writers

PAN PYLAS,

AP Business Writers

BRUSSELS

(AP) — The finance minis-

i ters of the 17 countries that use
? the euro are pressing ahead
: with an overhaul of their finan-
? cial firefighting tools, but said a
} deal will require more debate

NEW ORDERS: Airbus CEO Tom Enders listens during the Airbus :
Annual Press Conference, in Toulouse, southwestern France, Mon- :

over the coming weeks.
Following their first meeting

? of the year in Brussels on Mon-
? day, the currency union's top
: financial policymakers said they
: discussed "all the ingredients"
? of a comprehensive package to

Airbus said Monday it took in 574 net new aircraft orders last ee
year, beating rival Boeing Co. for the third year running as the } forced! (eee ane ro 4%
international aviation market rebounded more strongly than } implement painful budget cuts

The Toulouse-based plane-making consortium said 2010 orders ee eee On
were worth $74 billion at list prices, that it delivered a record 510 } :

"All the ingredients of the

A year earlier, Airbus took in just 271 net orders as the global sole is fe ee
: ais Soe : on table," said Jean Claude
economic slowdown led airlines to cancel or delay existing orders } yy poker

: : : . : ? eurogroup. "The discussion was
Boeing this month reported that it took in 530 net orders in 2010 : bro - s A sill be narowedan

Airbus’ 2010 order book was boosted by a late-December order i the next couple of weeks.

by Richard Branson's Virgin America for 60 A320 single-aisle } eceeios den anil tbeht be
aircraft. Airbus said half of the order is for its new version of the } ‘ Dy of ce
aircraft, the A320neo, which is being designed to save carriers euro750 billion ($1 trillion)

Airbus CEO Tom Enders said the European jet builder will Me nee ae bee ee
deliver between 520 and 530 aircraft this year, and said orders will } a orl hon e font ae

"We've made tremendous progress, it makes me more opti i Greece to soothe financial mar-
Leaps ree P'- | kets anxious over some coun-

Airlines that cut back during the downturn are now scrambling : ee
to add jets to handle rising traffic as the international economy : _./ y :

Se . : : ? with Ireland following Greece
rebounds. Soaring jet fuel prices are also forcing carriers to look for } ‘a the badloutelus und fasunt
newer, more efficient planes to replace gas-guzzling older models. + fears that the debt crisis
Speaking to reporters ahead of the company's press confer- } ee le stead tec Peuaeal endl
ence Monday, Airbus top salesman John Leahy said fuel prices } Spain P 8

who heads the

The centerpiece of any

Both the European Union's

their prices and keep vulnera-
ble countries’ funding costs in
check.

"We shall improve our cur-
rent existing financial backstops
so that the so-called market
forces cannot even have the
slightest doubt about our capac-
ity to act even in the most
stressed scenarios," said the
EU's Monetary Affairs Com-
missioner Olli Rehn.

Germany, the eurozone's
effective paymaster, has so far
ruled out any substantial



rs

CRISIS TALKS: French Fin

ance Mi



nister Christine Lagarde, left, speaks with Spanish Finance Minis-

Europe debates overhaul
risis response

AP Photo/Virginia Mayo

7

ter Elena Salgado during a meeting of eurogroup finance ministers at the EU Council building in Brus-
sels, Monday, Jan. 17, 2011. Finance ministers of the 17 euro countries are locking horns Monday over
how to fight their crippling debt crisis amid evidence that the European Central Bank has so far been
taking on the burden of calming jittery bond markets.



INTERNATIONAL
BUSINESS

increase of the fund's size. But
German Finance Minister
Wolfgang Schaeuble indicated
that his country would be pre-
pared to bolster the eurozone's
contribution to the fund so it
can actually lend out the full
headline amount.

Eurozone governments make
their euro440 billion contribu-
tion to the region's bailout fund
by guaranteeing bonds issued
by the so-called European
Financial Stability Facility. The
remaining euro310 billion come
from the European Commis-
sion and the International Mon-
etary Fund.

However, to get a triple-A
credit rating for the EFSF's
bonds — and make them
attractive to investors — gov-

ernments had to guarantee 120
percent of their value, while
bailed out countries have to
deposit a certain portion of the
loans they receive “as a cash
buffer."

That takes the EFSF's lend-
ing capacity down to only about
euro250 billion, which most
analysts say is insufficient to
deal with a bailout of Spain, if it
ever arises. Spain's economy
makes up about 10 percent of
the eurozone economy, more
than Greece, Ireland and Por-
tugal combined.

But discussions Monday
went beyond boosting the
fund's size, with the Commis-
sion pressing to give it powers
that would allow it to do more
than provide emergency loans
for countries.

Rehn and Juncker declined
to elaborate of the details of
ministers’ discussions, but
Juncker said ministers had also
debated potentially lowering
the interest rates charged in the
Irish and Greek bailouts — a
move that would make it easier
for the two countries to repay
their emergency aid even as
their economies are shrinking.

"We were discussing in gen-
eral terms the question of low-
ering the interest rates we
charge for countries, but we did
not discuss this point in suffi-
cient detail to give you the like-
ly outcome,” Juncker cau-
tioned.

Giving the bailout fund the
power to buy government
bonds would reduce the load
on the ECB, which has recent-
ly stepped up its role in the debt
crisis by buying the bonds of
the more imperiled European
countries. Not all the bank's
governing council are con-
vinced that it should be buying
bonds at all so they would wel-
come handing off all, or a large
chunk, of that duty.

Figures on Monday con-
firmed speculation that the
ECB ramped up its bond buy-
ing last week, a clear indication
it tried to help Portugal in the
run-up to a crucial bond auc-
tion.

Data from the ECB showed
the central bank spent
euro2.313 billion ($3.1 billion)
buying government bonds in
the markets, up sharply from
the previous week's eurol13
million.

That took the total since the
bond-buying program began in
May to euro76.5 billion. Last
week's total was the highest
since the week to Dec. 10, when
it spent around euro2.7 billion
to shore up confidence follow-
ing the bailout of Ireland.

Despite the lack of decisions
on the bailout fund, the finance
ministers did agree on one
thing: In 2012, they will issue a
special 2-euro coin to celebrate
the 10 years that the euro has
been in European wallets.

BP shares rise on Arctic
deal despite complaints

ROBERT BARR,
Associated Press
LONDON

PUBLIC NOTICE

INTENT TO CHANGE NAME BY DEED POLL

The Public is hereby advised that |, VANDA JODY G.
RAHMING of Bellot Road, New Providence, Bahmas
intend to change my daughter’s name from ARIEL
VANIQUE RAHMING. to ARIEL VANIQUE FERRETTE. If
there are any objections to this change of name by
Deed Poll, you may write such objections to the Chief
Passport Officer, RO.Box N-742, Nassau, Bahamas no
later than thirty (80) days after the date of publication of
this notice.

NOTICE

NOTICEis hereby giventhat STEPHEN MALCOLMBAILEY
MD of P.O. Box EL27585, Spanish Wells, Eleuthera
BAHAMAS, is applying to the Minister responsible for
Nationality and Citizenship, for registration/naturalization
as a citizen of The Bahamas, and that any person who
knows any reason why registration/naturalization should
not be granted, should send a written and signed statement
of the facts within twenty-eight days from the 11" day of
January, 2011 to the Minister responsible for nationality
and Citizenship, PO. Box N-7147, Nassau, Bahamas.

= EG CAPITAL MARKETS
cE EJ BROKERAGE & ADVISORY SERVICES

fre avi.c3 wd

Shares in oil major BP rose Monday as the market welcomed
its deal with Russia's Rosneft to explore the Arctic seabed.
though key partners complained about being left out and U.S.
politicians warned about national security risks.

While the deal hedges BP's production options as it faces
new restrictions in the United States following the disastrous
Gulf of Mexico well blowout, analysts noted it is unlikely to yield
results for years.

Still, BP shares shot up 2.4 percent as the London Exchange
opened on Monday before retreating to stand 1.5 percent high-
er at 507 pence ($8.06) in late morning trading. BP shares,
which traded at about 655 pence before the Gulf of Mexico
disaster, climbed back above 500 pence only last week.

The stock was also helped Monday by news that BP had won
exploration rights in the Ceduna Sub Basin off the south coast
of Australia.

The Russian deal gives Rosneft a 5 percent stake in BP.
which in turn takes 9.5 of Rosneft shares. Rosneft shares were
up 4 percent on the MICEX exchange in Moscow.

Analysts in London say the move is a bold on by BP, but it will
have to wait years for a payoff assuming that significant oil
reserves are found.

"The deal looks like a typically bold BP move accessing a new
region considered highly prospective," Evolution Securities
said in a research note. However, "this is an exploration oppor-
tunity so while it may be a good medium- to long-term strategic
investment, delivery is years away."

While the resources in the Arctic are potentially huge, analysts
at Collins Stewart said BP's profit margin would be squeezed by
the high costs of operating in the South Kara Sea and other Arc-
tic waters.

"While any production arising from the new agreement is
still likely to be many years away, BP's commitment of signifi-
cant additional capital to Russia is likely to be seen as a mater-
ial negative shift in its risk exposure by many observers," Collins
Stewart said.

Alfa-Access-Renova, BP's partners in the joint venture TNK-
BP, protested that they were supposed to be the exclusive gate-
way for any BP deals in Russia, according to the Financial
Times.

"All new business opportunities in Russia and Ukraine must
be pursued through TNK-BP," AAR's Chief Executive Stan
Polets was quoted as saying.

TNK-BP now provides about a quarter of BP's production, but
a lower proportion of income, Collins Stewart said.

Jonathan Jackson, head of equities at Killik & Co. in London,
said the Rosneft deal is likely to hit opposition in the United
States, which is seeking a moratorium on Arctic exploration.

ROYAL SFIDELITY

Moray al Work

Co FAL “a T.

BISX LISTED & TRADED SECURITIES AS OF:
MONDAY, 17 JANUARY 2011
BISX ALL SHARE INDEX: CLOSE 1,480.07 | CHG 0.00 | %CHG 0.00 | YTD -19.44 | YTD % -1.30
FINDEX: CLOSE 000.00 | YTD 00.00% | 2009 -12.31%
WWW.BISXBAHAMAS.COM | TELEPHONE:242-323-2330 | FACSIMILE: 242-323-2320
S2wk-Low Change Daily Vol. EPS $ Div $
0.97 0.00, 0.150
9.67 0.00 0.013
4.50 0.00 0.153
0.18 0.00 -0.877
2.70 0.00 0.168
2.14 0,00 0.016
9.62 0.00 1.050
2.36 Colina Holdings 2.40 2.40 0.00 0.781
5.40 Commonwealth Bank (S1) 6.85 6.85 0.00 0.422
1.63 Consolidated Water BDRs 2.10 2.10 0.00 0.111
1.60 Doctor's Hospital 1.60 1.60 0.00 0.107
5.94 Famguard 6.07 6.07 0,00 0.357 17.0
7.23 Finco 6.51 6.51 0.00 0.287 22.7
S.7F FirstCaribbean Bank 9.39 9.39 0.00, 0.645 14.6
3.75 Focol (S) 5.47 5.47 0.00
1.00. Focol Class B Preference 1.00 1.00 0.00
5.00 ICD Utilities 7.40 7.40 0.00
9.82 J. S. Johnson 9.82 9,82 0.00,
10.00 Premier Real Estate 10.00 10.00 0.00
BISX LISTED DEBT SECURITIES - (Bonds trade on a Percentage Pricing basis)
Security Symbol Last Sale Change Daily Vol. Interest
Bahamas Note 6.95 (2029) BAH29 99.46 0.00 6.95%
Fidelity Bank Note 17 (Series A) + FBB17 100.00 0.00 7%
Fidelity Bank Note 22 (Series B) + FBB22 100.00 0.00 Prime + 1.75%
Fidelity Bank Note 13 (Series C) + FBB13 100.00 0.00 7%
Fidelity Bank Note 15 (Series D) + FBB15 100.00 0.00 Prime + 1.75%
RoyalFidelity Merchant Bank & Trust Ltd. (Over-The-Counter Securities)
Symbol Bid & Ask Last Prime Daily Wal.
Bahamas Supermarkets 5.01 6.01 14.00
RND Holdings 0.35 0.40 0.55

Securit_y Previous Close Today's Close
AML Foods Limited 1.01 1.01
Bahamas Property Fund 10.63 10.63
Bank of Bahamas 4.90 4.90
Benchmark 0.18 0.18
Bahamas Waste 2.70 2.70
Fidelity Bank 2.17 217
Cable Bahamas 10.21 10.21

0.366 14.9
0.000 N/M
0.012 616.7
0.859 11.4
0.991 10.1
S2wk-Hi S2wk-Low Maturity
20 November 2029
19 October 2017
19 October 2022
30 May 2013
29 May 2015

EPS $
-2.945
0.001

Div & P/E
0.000
0.000

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

ABDAB
RND Holdings

30.13 31.59

0.45 0.55
BISX Listed Mutual Funds

NAW YTD%

1.5179 5.51%
2.9474 2.10%
1.5740 4.44%
2.7202 12.72%
13.2825 -0.63%
114.3684 9.98%
106.5528 4.75%
1.1415 4.74%
TAA 3.94%
1.1428 4.78%

29.00
0.55

4.540
0.002

0.000
0.000

NAV 3MTH
1.498004
2.918697
1.555464

NAV GMTH
1.475244
2.919946
1.538692

Fund Name
CFAL Bond Fund
CFAL MSI Preferred Fund
CFAL Money Market Fund
Royal Fidelity Bahamas G & | Fund

Last 12 Months %
6.90%
2.09%
4.44%
4.63%
-0.14%
12.49%
7.18%
5.21%
7.60%
5.90%

1.4076
2.8300
1.4954
2.8522
13.0484 Royal Fidelity Prime Income Fund
101.6693 CFAL Global Bond Fund
99.4177 CFAL Global Equity Fund
1.0000 FG Financial Preferred Income Fund
FG Financial Growth Fund
FG Financial Diversified Fund
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 1
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 2
Royal Fidelity Bah Int'l Investment Fund Principal
Protected TIGRS, Series 3
Royal Fidelity Int'l Fund - Equities Sub Fund

31-Dec-10
31-Dec-10
31-Dec-10
30-Nov-10
30-Jun-10
30-Sep-10
30-Nov-10
30-Nov-10
30-Nov-10

109.392860
100.779540

107.570619
105.776543

1.0000
1.0000
9.1005
9.7950 4.85% 5.45% 30-Nov-10
10.0000,
10.6417 -1.20% 0.50% 30-Nov-10
9.1708
9.6635 -3.37%
8.3979 8.82%
MARKET TERMS

YIELD - last 12 month dividends divided by closing price

Bid $ - Buying price of Colina and Fidelity

Ask $ - Selling price of Colina and fidelity

Last Price - Last traded over-the-counter price

Weekly Vol. - Trading volume of the prior week

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

NAV - Net Asset Value

N/M - Not Meaningful

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

-3.37%
8.82%

30-Nov-10
4.8105 31-Dec-10
BISX ALL SHARE INDEX - 19 Dec 02 = 1,000.00
52wk-Hi - Highest closing price in last 52 weeks
52wk-Low - Lowest closing price in last 52 weeks
Previous Close - Previous day's weighted price for daily volume
Today's Close - Current day's weighted price for daily volume
Change - Change in closing price from day to day
Daily Vol. - Number of total shares traded today
DIV $ - Dividends per share paid in the last 12 months
P/E - Closing price divided by the last 12 month earnings
(KS) - 4-for-1 Stock Split - Effective Date 8/8/2007
(S41) - 3-for-1 Stock Split - Effective Date 7/11/2007

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

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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 9B





B

The Tribune

This is part of the ongoing
telemedicne programme which was
introduced to improve the quality of
care and decrease the fatality of trau-
ma patients.

Health officials say the telemedi-
cine program will have a significant
impact on the local health care system
as it allows doctors to discuss cases
and exchange ideas via, satellite tech-
nology.

Minister of Health, Dr Hubert
Minnis, who was present at the the
press conference, said that the tele
conference is an opportunity for doc-
tors, surgeons as well as EMS per-
sonnel to keep up to date with tech-
nological advances in medicine.

"This is an educational teleconfer-
encing. We are interconnected with at
lest ten other institutions worldwide,
from Brazil straight up Canada,” he
said.

Working Together

Last week Jackson Memorial Hos-
pital presented a case and. the other
hospitals will follow in the rotations.

"The whole idea is a part of ongo-
ing education so that our emergency
room and our surgeons can remain
on the cutting edge of education as
well as technology so that when we
have a difficult case we can present
that to the world and be critiqued.
This is part of our ongoing education
and tele medicine program to ensure
quality health care," Dr Minnis
explained.

If doctors locally run into a case
that they have never seen before, the
care can be presented and addressed
during the teleconference.

"From time to time we have diffi-
cult cases. And Jackson Memorial
Hospital has presented some cases. If
that’s a difficult case then we would
learn from that. We will present also
and therefore we will be critiqued by
the world which means that if you

z a
qi] Tt
a lit Ait
ey

are presenting to the entire world
you must be well versed. So we are
learning new procedures and new
processes will occur regularly. We
want to continue an ongoing learning
process which is-excellent for the
Bahamas and that is part of our moy-
ing forward and strategic planning,”
he explained.

Dr Colin Bullard, who serves as
the coordinator said when cases are
presented :" We will be asked to com-
ment on how we have been managing
such a case in the Bahamas and oth-
er countries likewise. We ask simple
questions and we hear what other
people in the region are doing. And
all of this is in the effort to improve
the quality of our patient care par-
ticularly as it pertains to trauma
patients.”

Dr Bullard also said that the
telemedicine program will have more
impact on trauma patients.

"As you know we are being over-
whelmed with the amount of trauma
patients coming to the accident emer-
gency department of the Princess
Magaret Hospital. This is going to
help us improve the care to the those
patients and as we move forward,
using this telemedicine technology,
using this international collaboration,
its going to ensure that we do this as
cost effectively as possible. We want
to try and get to the stage where the
accident emergency department is a
level one trauma centre at the same
level as a wider trauma centre in Mia-
mi,” he said.

"Its going to improve the quality of
patient care while trying to decrease
the morbidity and the mortality to
trauma paitents and help everybody
invovled in the management of trau-
ma patients to be aware that trauma
is a mutlidisciplinary specialty and
we have involved everybody from
the EMS personnel to the doctors in
the emergency room to the operating,
to ICU to rehabilitation."






By JEFFARAH GIBSON «¢ Tribune Features Writer

S part of the country’s efforts to stay on the
cutting edge of health care and medical
echnology, the Ministry of Health in con-
junction with Princess Magaret Hosptial, held an
educational teleconference last week Friday.



PRINCESS NPS CCr oe HOSPITAL

West

my LU

Children with a heart,

helping children’s heart

YOU don't have to be a doctor to
save lives. You can simply be an indi-
vidual with a heart, regardless of age,
gender, race or socio-economic back-
ground who wants to bring hope,
health and happiness to others
impacted by heart diseases, particu-
larly children.

Recently, two young Bahamians,
who are philanthropists at heart,
decided to follow the pattern set by
Lady Sassoon and help to repair the
hearts of children. Channing and
Sean-Ryan Thomas, 6th and 8th
grade students respectively, made the
decision to donate the profits earned
from their gumball machines, located
in their father's office, over the past
year to help a child receive heart care.

These young entrepreneurs are the
children of Dr Carlos and Loretta
Thomas. Their decision came after
they watched an ad about Joe
DiMaggio Children's Hospital in
Florida and noted the persons who
come into their father's office needing
financial support for medical care.
Also, the children read their parents’
invitation to the heart ball and decid-
ed that this was where they wanted to
donate money. They wanted to help

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children who need heart surgeries
locally in The Bahamas. Channing
came up with the idea on how to raise
the funds. They were very excited
about donating.

Channing hopes to one day
become a pediatrician or a veteri-
narian. Sean-Ryan says, “I'd like to
follow in my dad's footstep and
become a pediatrician and a neona-
tologist. I can't think of a better way
of starting to help children than
donating to children needing heart
surgeries.”

Loretta Thomas described her
children’s decision as independent
and inspiring.

“T think we ought to encourage our
children. Children learn from their
environment. Children learn from us.
They mimic us. They emulate us. As
parents, my husband and I try to pro-
vide the best nurturing, loving and
teaching environment for our chil-
dren. No matter how small or
insignificant we may think the
amount is, we should always encour-
age our children to be grateful
receivers and heartfelt givers - giv-
ing from the heart. One can give
financially: every penny counts, every

dollar counts. Or one can give of
one's time or talent”.

Under the theme “Saving little
hearts for 50 years, one beat at time”,
the Heart Ball Committee will host
the 47th Annual Heart Ball, Satur-
day, February 19, at Sheraton Nassau
Beach Resort. This particular ball
marks a significant milestone in the
life of The Sir Victor Sassoon
Bahamas Heart Foundation. The
Foundation will celebrate its 50th
year of existence. The Annual Heart
Ball is the major fund raiser that helps
to meet the demands of The Heart
Foundation. There will be live toe-
tapping performances by The Ed
Brice Orchestra, The S-G Band
(Soulful Groovers) and the Royal
Bahamas Defence Force Dinner
Band.

There will be fabulous table prizes,
raffle prizes and auction items, with
an exclusive collection from John
Bull. Tickets for regular seating are
$250 per person. Premium seating
and other accommodations are also
available. Additionally, the public is
invited to sponsor booklet ads, and
make donations. Being a non-profit,
all volunteer organisation, The Heart



CARING HEARTS: Channing and Sean Ryan Thomas present their cheques to RE
Barnes, the chairman of the The Sir Victor Sassoon Bahamas Heart Foundation.

Foundation relies heavily on the gen-
erosity of others to meet their goals.
Over 97 cents, of every dollar raised,
goes directly to the aid of the chil-

dren. For information on ticket pur-
chases or donations please contact
the Heart Foundation at telephone
number 327-0806.


PASE 100

TUE SOAY JANUARY 10. 2011

THE TREIUNE





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In this Friday, Jam 14, 2011 pose, Dr. Marty Tenenbaum, a survivor
of the skin cancer melanoma, shows off his free app an his iPad in his
Palo Alto, Calil., office. Tenenbeam, 67, is launebing a free apo with
Cancer Commons, & set of online tools Dkat Delp peoleasionals atucty
the disease and belp wrth better treatments, can

TO DISCUSS STORIES ON THIS PAGE LOG ON TO WWW.TRIBUNT242.COM

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THE TRIBUNE



TUESDAY, JANUARY 18, 2011












BEJEWELED: This
necklace is one of
Allison’s personal
favourites. It will take
any outfit to the highest
level of fabulousity. It's
definitely an eye catch-
ing piece.

A “A spotlight on the talented
— women in our community

By ALESHA CADET
Tribune Features Reporter

llison Catherine Rolle has
At a lot on her plate

these days. In addition to
being an aspiring physican, the
25- year-old is a entrepreneur
who along with her sister
recently opened up a popular
accessories store which has
become quite popular on Face-

book.

Allison is studying at the Saint Mary's
University in Canada. She explains that it
becomes a task managing school and her
business. " I am basically handling it by
myself and it is a bit much, because it is
hard trying to find someone to work in the
store, so what I do is work by appointments
until we get the chance to find someone. I
took a semester off so I am stationary for a
while.”

With support from her family, friends
and those of like mind, the college student
made it her duty to push until she finally
opened her brand new store Essence of J
Shoes & Accessories Loft, which now offers
new fashion accessories right here in the
Bahamas.

"My sister is in partnership with me and
I have always wanted and desired to get
into opening my very own business for
about five or six years now, it was just a
matter of time," said Allison in an interview
with Tribune Woman.

She continued: “We are fairly new, start-
ed in November of 2010 carrying earrings,
rings, necklaces, that sort of stuff. We start-
ed off with just those things but we will be
working and pushing towards offering shoes
and bags in the future.”

She hopes that Essence of J can be a suc-
cessful adventure, and is counting on the
support from her fan page and customers to
make sure that they maintain business.

"The store is a family oriented business,
the letter J came from a sister of mine that





passed away, she was also into fashion so
the business is in memory of her. It was
only right that she would be the face of
Essence," she explained.

Essence of J customer, Alex Missick
told Tribune Woman that she views the
store as really “trendy and sophisticated.”
She goes on to say that , “the store screams
fabulosity from the decor to the actual jew-
elry she has to offer and it appears as
though she takes real pride in what she
does. I was surprised to see such a young
person want to reach a different kind of
woman, amore mature market of Bahami-
an woman.”

Giving her very own accessory and fash-
ion tips, Allison said: "A personal tip I like
to share with people is you do not have to
match everything, fashion is not about
matching, it is about blending and finding
colours that compliment your very own
style.

“My pieces are very unique in terms of
being very out there. I get a lot of clients
saying they haven't seen this stuff before.”

She also offered advice to young women
wanting to start a business such as hers.
She encourages them to stay persistent.
"There are going to be people that want
you to fail but be persistent and keep at it,
that is when you become successful," she
said.

When asked how long she plans to keep
up with Essence of J, Allison said: “This is
definitely a long term investment, there
are also a lot of other things I want to do
that have not been introduced to the mar-
ket yet, and I want to get into that. The
business has been progressing, we took it to
Facebook and that is working out for now.

“My family, significant other and close
friends have all been very supportive of it
and this has been a growing experience
for me, I have learned a lot these past
months.”

¢ Know another talented young lady making a
postive impact in the community ? Send us
an email at features@tribunemedia.net to
have her featured in our next You Go Girl!



Risk-takers fuel fun fashion on Globes carpet

By FASHION WRITER
Associated Press

FASHION risk-takers helped the
red carpet at Sunday's Golden
Globes live up to its reputation as
the liveliest of the awards season,
with Helena Bonham Carter lead-
ing the way in mismatched — one
red, one green — shoes.

She topped her multicolored,
printed cocktail frock with a wacky
hairdo woven with black netting.

It can't be described as a do or a
don't: It's just pure Bonham Carter.

Olivia Wilde cleared her own path
in an oversized chocolate-brown ball
gown by Marchesa with beading that
mimicked a starry night. "I'm a wide
load — give me 20 feet,” Wilde
joked.

"T like wearing big dresses, it's fun.
We go to so many parties in this
town, the Globes are something to
play with in terms of fashion,” she

added.

Still, there was room at the Bev-
erly Hilton Hotel in Beverly Hills,
Calif., for waves of gowns in green,
red, blue, black and blush tones.

"T don't see an overall trend. It’s
not all about strapless or one look —
the way it's been so clearly in the
past. You always hope to see indi-
viduality and you got it,” said Cindy
Weber Cleary, InStyle fashion direc-
tor.

She also noted there were more
covered-up looks, save January
Jones’ strategically cutout top, anda
rainbow of colors.

Angelina Jolie wore a long-sleeve,
green gown with subtle shimmer that
matched the old-school style of Brad
Pitt, looking very much the classic
movie star in traditional bow tie.

Meanwhile, Michael Douglas
escorted Catherine Zeta-Jones in a
green, textured-organza Monique

Lhuillier with a textured skirt. As
presenters, young Justin Beiber, in a
three-piece Dolce & Gabbana tux,
and Hailee Steinfeld in a Prabal
Gurung ivory racerback gown, with
a rubberized finish, were a glimpse at
the future, though.

"Glee" stars seemed like they
were everywhere on the carpet: Lea
Michele in a salmon pink Oscar de la
Renta, Chris Colfer in Dior Homme,
Dianna Agron in a delicate, subtly
shiny J. Mendel with a heavy chain
necklace by Cathy Waterman, and a
Giorgio Armani-clad Cory Montei-
th and his silver bow tie.

"T really was struck by the fact
that so many men were in real bow
ties," said Weber Cleary. "They have
not been ‘the thing’ for a couple of
years."

Elisabeth Moss, in custom Don-
na Karan, and Mila Kunis also did
green justice, and Amy Adams went

with a teal, laser-cut gown by March-
esa. Blue was electric on Michelle
Pfieffer, wearing a simple, sexy
Roland Mouret, and Tina Fey chan-
neled another era in a navy velvet
L'Wren Scott.

Several red looks commanded
attention, especially Sofia Vergara's
back lace-up corset by Vera Wang,
Christina Hendricks’ one-shoulder
Romona Keveza with an oversized
ruffled strap (to match her oversized
20-carat Chopard diamond earrings),
and Jones’ Versace. Jones actually
requested this dress — originally on
the Versace runway in blue — to be
made in the bright lipstick hue.

Black wasn't boring on Halle
Berry, who wore a lingerie-style,
minimalist mini by Nina Ricci. Sure-
ly the five stacked Harry Winston
diamonds cuff bracelets weighed
more than the barely there dress.

SEE page 11



L eae
ACTRESS Lea Michele arrives at the

Golden Globe Awards Sunday, Jan.
16, 2011, in Beverly Hills, Calif. (AP)

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‘SUNNY



A Ca i

SUT

sa

Police
Solvin

Commissioner speaks out
after weekend killings

WITH four mur- p
ders occurring over
the weekend, Com-
missioner of Police
Ellison Greenslade
assured the public
yesterday that the
police are doing all
they can to find the
killers.

Meanwhile, late
last night police
released the identity
of recent murder vic-



relationships; persons
involved in the drug
| culture, revenge, and
other contributing
vices are major fac-
| tors.

“Therefore, at the
§ beginning of this year
I wish to renew my
call to all of our peo-
ple to come together
and help stem the tide
of lawlessness, which,
if not checked, has

tims. CONFIDENT: the potential to
Calling a snap Commissioner engulf segments of
press conference at Greenslade our communities and

the Paul Farquharson
Conference Centre, Commis-
sioner Greenslade said that
his team of officers have suc-
cessfully cleared up several
matters for the year thus far
and are confident that they
will bring a successful conclu-
sion to the remaining homi-
cides, “including many of
those that occurred toward
the end of 2010.”

“Allow me to also say once
again that while we are always
saddened by the tragic death
of our people the compelling
evidence in many of these
matters that we see is that
they are occurring among per-
sons involved in various
lifestyles, including intimate

further erode the
peace and safety of our coun-
try,” he said.

The men killed in Sunday’s
double homicide in the
Kennedy Sub-division area
were identified as Kevin Rus-
sell, 34, and Eamonn Hep-
burn, 21.

Mr Russell, of Deliverance
Way off Malcolm Road, was
gunned down at Gilda Street
and Mr Hepburn, of Baillou
Hill Road, was killed at
Gilbert Street.

Police identified the man
shot down at a Nassau bar on
Friday as Terrence Williams,
36, of Flint Street. Mr

SEE page 10

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TUESDAY, JANUARY 18, 2011

eS
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BAHAMAS BIGGEST



ai
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Time

eric

fen ol
murders





Tim Clarke/Tribune staff

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CHARGED: 24-year-old Dino Price at court yesterday.



A THIRD person has been charged with the
attempted murder of a Canadian tourist.

Police have now charged Dino Price, 24, of Arm-
brister Street in Fox Hill, for attempting to murder
Mitch Nimi.

Nimi was reportedly stabbed several times in the
chest, back and abdomen early on Christmas morn-
ing.

Patrickedo Rose, 20, of Pine Barren Road and a
17-year-old boy of Springfield Road have already
been charged with attempting to kill Nimi.

Price, who was arraigned before Chief Magis-
trate Roger Gomez in Court One yesterday, is also
accused of robbing Mintez Armbrister of a gold
chain, valued at $1,000.

The case was adjourned to January 25 and trans-
ferred to Court 5, Bank Lane.

Price has been remanded to Her Majesty’s
Prison.















eT aU Sal US




SEE SECTION E



US RELAXATION
OF CUBAN TRAVEL
‘WON'T AFFECT
BAHAMAS IN THE
SHORT TERM’

By TANEKA THOMPSON
Tribune Staff Reporter
tthompson@tribunemedia.net

THE United States have
officially relaxed their travel
restrictions into Cuba, and
while this will not affect the
Bahamas’ tourism industry in
the short-term they are
preparing for competition
from the eventual opening up
of its regional neighbour,
Tourism Minister Vincent
Vanderpool-Wallace said.

His comments came after
US President Barack Obama
announced looser travel
restrictions to the Communist
Caribbean nation.

The new travel rules will
allow American religious

SEE page 10

MALE STUDENT
GIVES EMOTIONAL
TESTIMONY IN
TEACHER SEX CASE

By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT - The trial
of Andre Birbal opened on
Monday in the Supreme
Court with emotional testi-
mony from one of the two
male students who broke
down in tears as he
described the painful sexual
ordeal he endured for some
eight years at the hands of
his art teacher.

Godfrey McMasters said
Birbal had sexual inter-
course with him in his art
classroom at the Eight Mile
Rock High School, at his
apartment, and in his car in
remote locations.

He said the alleged sexual

SEE page 10

Residents braced
for ‘severe weather’

GRAND BAHAMA and
Abaco residents braced them-
selves for heavy rains as weath-
er officials posted a severe
thunderstorm warning yester-
day.

The Department of Meteo-
rology sounded the alarm for
the two northeastern islands
shortly before 4pm, due to a
cluster of thunderstorms and
showers over southeast Florida
which were moving towards

the area.

Thunderstorm cells were
said to have covered Grand
Bahama, and residents report
the entire island had been
affected by torrential rain since
lpm.

In Abaco, affected areas
were said to be mostly north
and central Abaco.

Initially, the storm system

SEE page 10

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NASSAU AND BAHAMA

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PAGE 2, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



LOCAL NEWS



325,120 contract signed

for d

GOVERNMENT has signed a
$325,120 contract for the refur-
bishment of Exuma’s George
Town dock.

Addressing a contract signing
ceremony in Exuma on the week-
end, Minister of State for the Envi-
ronment Phenton Neymour
praised the Ministries of Works
and Environment for putting
together the challenging project.

Mr Neymour said the project’s
existing risks were not recognised
by many.

“In putting together the project
scope the Ministry of Works and
the Ministry of the Environment
have done their best to address
those existing items. For example,
we are going to put in place five
60-tonne bollards that are essential
for the docking of large vessels so
that the vessels can come directly
next to the dock.

“We will also be including the
dredging of silt away from the
dock that has diminished the avail-
able draft of the vessels for the
docking of this facility,” he said.

Additionally, a wall will be con-
structed that has the ability to with-
stand great forces that large vessels
can exert, which result in damage
to the existing facility, he said.

Mr Neymour was among a del-
egation, including Public Works
and Transport Minister Neko
Grant, who were in Exuma on the
weekend to sign a $325,120.30 con-
tract with Reg McKenzie of R & F
McKenzie Construction Co Ltd
for the refurbishment of the dock
in George Town.

a _

a

PHENTON NEYMOUR, Minister of State for the Environment,
Speaks to residents of Exuma during a contract signing ceremo-
ny for the George Town dock. Also pictured is the Public Works
and Transport Minister Neko Grant, (seated from left; front row)
Colin Higgs, permanent secretary, Anthony Moss, MP for Exu-
ma, and in the back row from left John Canton, director.

Minister Neymour said in 2007
he along with marine experts from
a fuel company travelled through-
out the Bahamas to perform a
marine risk assessment to review
the safety of delivering fuel to var-

ious communities.

“During that assessment a num-
ber of items were recognised that
were essential to improving the
existing docking facility in Exu-
ma,” he said.

ock refurbishment



Anglican Diocese
holds anniversary
thanksgiving service

THE Anglican Diocese
of the Bahamas and the

FOR 3 IN 1 LAWN SERVICE
igi a arate
Pest Control

Tropical Exterminators
brat]

Turks and Caicos Islands
yesterday held a special
thanksgiving service as part
of its 150th anniversary cel-
ebrations.

Preaching at yesterday
evening’s service held at
Christ Church Cathedral
was Rev Alfred C Reid,
Bishop of Jamaica and the

The presence of the
Anglican Church in the
Bahamas can be traced
from the early beginnings
of Bahamian history.

After 1647, the Eleuther-
an Adventurers made the
first settlement of the Eng-
lish after the islands had
been more or less aban-

who had eliminated the ear-
ly Lucayan population.
It is said that the

Mr Neymour said he is happy
that a native of Exuma has been
awarded the contract because it is
critical to continue to develop the
skill base of Exumian contractors.

“We have the ability to perform

church.

included two Anglican
priests who had left the

great works here but we need the
opportunity to do so,” said Mr
Neymour. “We all recognise that
there is a greater need in Exuma to
expand our docking facilities and
improve our existing ports.”








REV ALFRED C REID,
Bishop of Jamaica and the
Cayman Islands, was wel-
comed at the VIP Lounge
of the Lynden Pindling
International Airport yes-





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Eleutheran Adventurers

BILLY'S DREAM
SUAS

At that time the church
in all British overseas (colo-
nial) territories came under
the Bishop of London.

In 1824, the Dioceses of
Barbados and Jamaica were
formed.

The territories of the
Bahamas and the Turks and
Caicos Islands came under
the Diocese of Jamaica.

In 1861, the Bahamas
and the Turks and Caicos
Islands became a separate
diocese called the Diocese
of Nassau.

Queen Victoria issued
Letters Patent establishing
the same on November 4,
1861.

Dr Charles Caulfield was
consecrated bishop on
November 30, 1861.

With the issuing of the
Letters, the Parish of Christ
Church was declared the
Cathedral and the “towne
of Nassau” was elevated to
the status of city.

In the British civil sys-
tem a “towne” could only
become a city if it had a
bishop and a Cathedral.

Since its creation as a
Diocese in 1861, the Dio-
cese Said it has intensified
its ministries of pastoral
care and education in con-
veying its mission in the
Bahamian islands.

From its earliest years,
the church has established
primary and secondary
schools. The latter ones
continued until the early
years of the 1930s.

On June 24, 1971,
Michael Hartley Eldon was
consecrated suffragan bish-
op with the title Bishop of
















terday afternoon by Rev-
erend Laish Zane Boyd,
Sr, Bishop of the Bahamas
and the Turks & Caicos
Island

Bishop Reid last night
preached at the thanks-
giving service at Christ
Church Cathedral for the
150th anniversary of the
Anglican Diocese of the
Bahamas and the Turks
and Caicos Islands.

New Providence.

Less than a year later on
April 20, 1972 the Dioce-
san Synod unanimously
elected him as 11th Bishop
of Nassau and the
Bahamas, including the
Turks and Caicos Islands
and the first Bahamian
Bishop of this Diocese.

Similarly, September 1,
1996 the Rev Drexel
Gomez, former Bishop of
Barbados, succeeded Bish-
op Eldon as Diocesan Bish-
op; Bishop Gomez had
been Bishop Co-adjutor of
the Diocese prior to his ele-
vation.

Bishop Laish Boyd was
elected Co-adjutor on June
29, 2006 and became Dioce-
san Bishop on February 8,
2009.

To date, the Diocese has
had 13 diocesan bishops.
There have been two Suf-
fragan Bishops; two other
Bahamians have been ele-
vated to the episcopacy: the
late Donald Knowles, Bish-
op of Antigua, and Rev
Cornel J Moss who cur-
rently serves as Bishop of
Guyana.

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


THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 3



LOCAL NEWS



Senior ranks |

shake-up ‘is

not impending

)

Police Commissioner scotches reports

By PAUL G TURNQUEST
Tribune Staff Reporter
pturnquest@tribunemedia.net

COMMISSIONER of Police Ellison
Greenslade denied reports yesterday of an
impending shake-up within the senior ranks
of the force.

Late last year, reports had been circulat-
ing that a number of top officers were set to
leave their posts for more lucrative jobs as
the heads of security at either the Lynden
Pindling International Airport or the luxu-
rious gated community, Albany.

Amongst those persons rumoured to be
leaving were Deputy Commissioner of
Police Marvin Dames, and three assistant
commissioners — John Ferguson, Willard
Cunningham and Glen Miller.

Addressing the matter at the Paul Far-
qharson Conference Centre at Police Head-
quarters yesterday with his senior command
present, Commissioner Greenslade said that
he and his team do not have the time or
luxury to be concerned about rumours.

“Let me assure you, just as you see us
assembled here this morning, we have a syn-
ergistic team despite what anybody else will
tell you. And if you would wish to test it, you
are free to do so. You may turn up at Police
Headquarters at any given day and do some
good investigative journalism.

“We fellowship often; we tell a lot of
jokes, but we work hard.

“As the Commissioner of Police of the
Royal Bahamas Police Force I do not have
any concerns today that I can express to
you with respect to any disaffection among
the members of this team. We are all broth-
ers, and that is the way it will remain,” he
said.

Deputy Commissioner Dames acts as
Deputy to the Commissioner of Police and
has specific responsibility over discipline,



= " _
POLICE COMMISSIONER Ellison Greenslade.





the force’s inspectorate, district co-ordina-

tion and a list of other areas.

Mr Dames was rumoured to be consid- }
ering a lucrative position at the Nassau Air- ;
port Development company as the new head ;

of the security unit there.

ACP Ferguson, the head of the National

Policing Support Services, was said to be :
: the 2010 corporate calendar

retiring at the end of January.

However, Mr Ferguson is not yet of retire-

ment age, as he will only be turning 56 on }

January 29, and has so far only served 37 } Phe Bahamas’ visual and per-

i forming arts scene, Colina
: wos », ? Insurance Limited releases its
ACP Miller is in charge of the Force’s | 5014 caicaiae ander iG

: : 4.7: theme The Art of Charity.
ACP Willard Cunningham has responsibil- : The calendar highlights the

years on the force; not the required 40.
Crime Management and Operations; and

ity for the management of the force’s Fam-
ily Island Districts.

CALENDAR HIGHLIGHTS CHARITY WORK

Sales of first edition
prints of artwork
featured in ‘The Art of
Charity’ raise $8,000
for worthy causes

After producing Genera-
tions of Bahamian Culture,

featuring familiar personali-
ties alongside new faces of

: work of 12 local charitable
: organisations who, through

Rights of workers being |

violated — TUC president

By DENISE MAYCOCK
Tribune Freeport
Reporter
dmaycock@tribunemedia.net

FREEPORT -— Claiming
that the rights of the coun-
try’s workers are being vio-
lated, president of the Trade
Union Congress Obie Fer-
guson is calling on labour to
present a united front and
support the umbrella union.

“If you don’t have a union
in the Bahamas today, you
are on your own because it
is expensive for workers to
fight the accused.

“So my simple message is
that we need to unify, we
need to identify what we are
going to fight for, and we
need to support every union
in this country, whether
under the TUC, NCTU
(National Congress of Trade
Unions), whatever. When
we fight for issues those
labels must become sec-
ondary,” said Mr Ferguson.

He added: “The right to
work is a sacred thing. How
can a fella come from the
US and say you can’t join a
union, and say if you join
they will fire you. What kind
of nonsense is that? And
then, government officials,
ministers, they accept those
things.”

Mr Ferguson, who is also
president of the Bahamas
Hotel Managerial Associa-
tion (BHMA), said it is crit-
ically important for workers
to support the labour move-
ment.

“Employers in the
Bahamas are all working
together against one union.
So when you're fighting the

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



employer for any benefits, I
want you to understand that
you are not fighting that
employer alone; you are
fighting the employer in
Nassau, Freeport, Andros —
wherever they are. That is
the deal.

“So we have to work
together in 2011 as a team,
as a block. That is the only
way you get attention by the
government of the day.”

Mr Ferguson said the
TUC has thrown its support
behind the Bahamas
Telecommunications Com-
pany (BTC) workers, the
Bahamas Communications
and Public Officers Union
(BCPOU), and the
Bahamas Communications
and Public Managers Union
(BCPMU) in their protest
against the sale of BTC to
regional telecoms power-
house Cable and Wireless.

Visiting Grand Bahama
this week, Mr Ferguson also
revealed there is a tentative
agreement for a new indus-
trial contract for middle
managers at the Our Lucaya
Resort.

He said the agreement
was reached on November
19, and is now awaiting rat-
ification by the hotel’s own-
ers in Hong Kong.

“The agreement is framed
and structured along the
lines of the agreement that is
in effect at the Sheraton
Cable Beach in Nassau,” he
said. “We are waiting on
them to ensure that the
workers get the agreement
they are entitled to. And it is
my intention to put it to
them for ratification.”



SATURDAY

:

service, have contributed
greatly to nation building.
From humanitarian aid and
disaster relief to music edu-
cation and animal rights, the
organizations featured in the
calendar bring to light the
diversity of non-profit groups

? at work to alleviate suffering
; in The Bahamas.

Each organisation’s mission

? statement was used to inspire
? a graphic illustration by artist
? Theo McClain of local brand-
? ing and advertising firm Kar-
? ma Design. The illustration
? was then paired with a quote
? that draws attention to the
: plight that the organization is
? helping to alleviate. Beyond
: its aesthetic appeal, the cal-
? endar was also designed as a
? promotional tool for the fea-
? tured organizations, and lists

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JANUARY 22", 2011

Palmdale Shopping Plaza, Maderia Street,
Nassau, Bahamas; Tel: 242-326-0008



the dates
of each
organiza-
tion’s
major
fundrais-
ing events
in order
to boost
interest,
support and donations for
their key initiatives.

The calendar launched in
December with a showing of
the featured artwork and a
silent auction of limited first
edition prints. With art enthu-
siasts and patrons of the
respective charities on hand,
funds raised from the sale of
the 12 pieces totalled $8,000
and were donated to each of
the charities just before
Christmas.

“This programme was an
important opportunity for
Colina to continue its cele-
bration of key service orga-
nizations that make a differ-
ence in the lives of Bahami-
ans,” says Melanie Hutche-
son, Corporate Communica-
tions Officer at Colina. “For
the past 17 years our pivotal
role in corporate social
responsibility has been as
organizers and presenting

Va |

- ‘ ’ ae:

THEO MCCLAIN



"Next time you
check your oil level,
look closely at the
condition of the



oll, too,"

(Castrol |





sponsors of the annual Red
Ribbon Ball — the largest
fundraiser for the Bahamas
AIDS Foundation. We
proudly undertake The Art
of Charity calendar as an
avenue to provide organiza-
tions like the AIDS Founda-
tion and others with another
opportunity to raise aware-
ness about the work they are
doing in the community.”

The calendar features
Rotary Clubs of Nassau (vol-
unteerism); Zonta Club of
Nassau (advancing the rights
of women); the Bahamas
Scout Association (youth
development); REACH
(autism awareness); Bahamas
Humane Society (ethical treat-
ment of animals); Ranfurly
Homes for Children (aban-
doned and neglected children);
Bahamas National Trust (envi-
ronmental sustainability); Nas-
sau Music Society (music
appreciation and education);
Bahamas Historical Society
(historical preservation);
Bahamas AIDS Foundation
(HIV/AIDS treatment,
research and support); The Sal-
vation Army (humanitarian
aid); and The Bahamas Red
Cross (disaster relief), featured
on the cover.



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PAGE 4, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





EDITORIAL/LETTERS TO THE EDITOR

The Tribune Limited

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

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

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

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

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

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

Publisher/Editor 1972-

Published Daily Monday to Saturday

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

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

‘Baby Doc’ adds new twist to Haiti woes

PORT-AU-PRINCE, Haiti — Former Hait-
ian dictator Jean-Claude "Baby Doc" Duvalier
ensconced himself Monday in a high-end hotel
following his surprise return to a country deep
in crisis, leaving many to wonder if the once-
feared strongman will prompt renewed conflict
in the midst of a political stalemate.

Duvalier met with allies inside the hotel in
the hills above downtown Port-au-Prince and
spoke publicly only through emissaries, who
gave vague explanations for his sudden and
mysterious appearance — nearly 25 years after
he was forced into exile by a popular uprising
against his brutal regime.

Henry Robert Sterlin, a former ambassador
who said he was speaking on behalf of Duva-
lier, portrayed the 59-year-old former "presi-
dent for life," as merely a concerned elder
statesmen who wanted to see the effects of
the devastating Jan. 12, 2010, earthquake on
his homeland.

Duvalier — who assumed power in 1971 at
age 19 following the death of his father,
Francois "Papa Doc" Duvalier — still has
some support in Haiti and millions are too
young to remember life under his dictator-
ship. But his abrupt return Sunday still sent
shock waves through the country, with some
fearing that his presence will bring back the
extreme polarization, and political violence,
of the past.

State Department spokesman P.J. Crowley
said in a Twitter post that the U.S. was sur-
prised by the timing of Duvalier's visit. "It
adds unpredictability at an uncertain time in
Haiti's election process.”

His return comes as Haiti struggles to work
through a dire political crisis following the
problematic Nov. 28 first-round presidential
election, as well as a cholera epidemic and a
troubled recovery from an earthquake.

Three candidates want to go on to a second
round meant for two. The Organization of
American States sent in a team of experts to
resolve the deadlock, recommending that
Preval's candidate be excluded — and the
arrival of Duvalier has at least briefly over-
shadowed speculation about how the govern-
ment might respond.

State Department spokesman Mark Toner
said Washington's focus "continues to be a
resolution of Haiti's elections crisis that reflects
the will of the Haitian people and that ensures
reconstruction and humanitarian efforts pro-
ceed unabated.”

President Rene Preval, a former anti-Duva-
lier activist, made no immediate public state-
ments on the former dictator's re-emergence,
though he told reporters in 2007 that Duvalier
would face justice for the deaths of thousands
of people and the theft of millions of dollars if
he returned.

Human rights groups urged Haiti to prose-
cute Duvalier for widespread abuses.

Prime Minister Jean-Max Bellerive said he
is aware of the accusations but that an arrest is
unlikely anytime soon. At the moment, at
least, there are no pending charges against the
former dictator.

The government of France, where Duvalier
has spent most of his exile, said it had no
advance notice of the trip.

Bobby Duval, a former soccer star who
was starved and tortured during the 17 months
he was held without charge by Duvalier in the
notorious Fort Dimanche, was outraged that
Haitian authorities didn't immediately arrest
the former dictator. He recalls seeing people
beaten, tortured and executed by being
clubbed in the back of the neck.

Duvalier formed part of a father-and-son
dynasty that presided over one of the darkest
chapters in Haitian history, a period when
thuggish government secret police force — the
Tonton Macoute — stifled any dissent, torturing
and killing opponents.

He came back on an Air France jet in a
jacket and tie to hugs from supporters, waving
to a crowd of about 200 as he climbed in an
SUV and headed to a hotel with Veronique
Roy, his longtime companion.

Later, Duvalier appeared on a balcony of
the Karibe Hotel and waved to supporters
and journalists outside. Roy told reporters at
one point that "Baby Doc" would stay only
three days in Haiti and was asked why he had
returned now. "Why not?" she replied.

Once a teenage ruler, Duvalier is now a
large, stocky man with graying hair. He some-
times seemed disoriented as he faced the
crowd, as if he were struggling to keep his
eyes open.

Along with the electoral crisis, Haiti is also
dealing with a cholera outbreak that has killed
more than 3,500 people since October and
more than 1 million people are living in crowd-
ed, squalid tent encampments after their
homes were destroyed from the Jan. 12, 2010,
earthquake. At one of those camps, there was
some enthusiasm for Duvalier's return.

"T don't know much about Jean-Claude
Duvalier but I've heard he did good things
for the country,” said 34-year-old Joel Pierre.
"T hope he will do good things again.”

But the human rights groups Amnesty
International and Human Rights Watch issued
statements urging Haiti to hold Duvalier
accountable for the torture and killing of civil-
ians during his 15-year rule.

"The Haitian authorities must break the
cycle of impunity that prevailed for decades in
Haiti,” said Javier Zuniga, a special adviser
at Amnesty International. "Failing to bring
to justice those responsible will only lead to
further human rights abuses."

(This article was written by Jacob Kusgner
and Jonathan M. Kaz of the Associated Press).



Education
is nota one
way street

EDITOR, The Tribune.

Everyone is well aware
that we have an education
problem here in the Bahamas.
This issue strikes a chord with
me personally as I am
extremely passionate about
children receiving good qual-
ity education. The blame
game persists but who really is
to be blamed? I believe
wholeheartedly that educa-
tion is not a one way Street.
Parents share a lane, teach-
ers share a lane and the gov-
ernment shares another lane.

Parents: Research has
proven time and time again
that a child’s behaviour often
reflects what they are learning
in the homes. Children do
learn what they live. They
often imitate what they see
and hear. Like sponges, they
absorb things in their sur-
roundings and apply them
throughout the course of their
lives. Parents must take
responsibility for their chil-
dren and teach them morals
so as to prevent them from
becoming a nuisance to soci-
ety. They ought to unleash
potentials in their children
and take time to teach them
right from wrong, reprimand

LETTERS

letters@tribunemedia.net



them when they stir up trou-
ble and reward them when
they excel. Education is key.
Parents are the ones who
ought to ensure that home-
work and studying takes
place. They are the ones who
must ensure that when dark-
ness falls, all their children
are inside and not on some
basketball court playing or
some corner wall smoking. It
is when parents today become
lackadaisical that the chil-
dren’s education suffers. Par-
ent’s must do their part.
Teachers: I am currently
enrolled at the College of the
Bahamas and I believe
beyond the shadow of a doubt
that teachers do play a factor
in this education dilemma.
Knowing your subject is one
thing and teaching it is anoth-
er. Many teachers lack the
ability to properly explain the
lesson and sometimes the care
to monitor the children’s
progress. Mathematics has
proven to be challenging sub-

ject, not only for children here
in the Bahamas, but children
all over the world. Most
teachers do not know how to
teach this subject. Mathemat-
ics is like a ladder in that you
must climb one step at a time.
When students do not under-
stand one step and the
teacher moves on to another,
it is only creating a disadvan-
tage for that student and
many times interest in that
subject will continue to
decline. Teacher’s must do
their part.

Government: While one
must concur that the govern-
ment cannot be in the homes
with parents to test their par-
enting skills and they cannot
be in the classrooms to evalu-
ate the teacher’s capability,
they can implement pro-
grammes for educationally
challenged students. Invest-
ing in human capital will fuel
the engine of this economy.
The government must do
their part.

FUTURE
AMBASSADOR
FOR EDUCATION
Nassau,

January 14, 2011.

Genuine protest or regime change?

EDITOR, The Tribune.

While I concede that the
judicial system is available
to bring the appropriate
relief to viable litigants, I
must state, off the bat, that I
hold that the announced lit-
igation which has been com-
menced on behalf of the
unions of The Bahamas
Telecommunications Cor-
poration, is premature and
may well prejudice the
goodwill of the general pub-
lic towards them.

Litigation has its place in
the scheme of things but at
what stage? No Memoran-
dum of Understanding has
been presented to the gen-
eral public or pro-offered,
so far, to Parliament for
debate. Until this is done,
there can be no legal basis
for a Judicial Review.

It is being argued, bogusly
in my opinion, that the gov-

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ernment of the day has no
power to sell or to offer for
sale The Bahamas Telecom-
munications Corporation
and/or its assets.

There is a strict assumed
separation of powers
between the three estab-
lished branches of our sys-
tem of governance: the exec-
utive; the parliament and the
judiciary. Parliament is able,
both by the Constitution and
constitutional conventions
to make any law that it sees
fit and such laws, while they
may be “reviewed” by the
judiciary, cannot be chal-
lenged, successfully, in a
court of law. Yes, the imple-
mentation and the mode
thereof may be subjected to
“review” but not the sub-
stantive law itself.

In the USA the Supreme
Court has vastly different
powers and may actually
declare that a law passed by
Congress and approved by
the President of the day is
unconstitutional. Such a sce-
nario cannot happen in our
system of jurisprudence. I
do believe that the impacted
unions and their hapless
executives are being taken
for a proverbial ride down
the garden path.

I would have advised the

union, as I have done, to
bide their time; cease and
desist from inflammatory
remarks; tone down their
rhetoric and modify their
public posture until the so-
called MOU is presented to
the House of Assembly. In
the meantime, if they are
serious, they should seek to
put together a viable con-
glomerate with the appro-
priate proven resources to
make a counter offer to pur-
chase majority control of
BTC.

I support some of the
unions’ positions but the
tenor of their opposition is
fast becoming one of regime
change of the FNM and its
leader. Has it now become a
conflict between political
opponents or what? In a few
short months, those who
oppose the FNM will have
an opportunity to vote them
out. In the meantime, how-
ever, don’t seek to use the
BTC fiasco as a means
towards an end.

To God then,
things, be the glory!

in all

ORTLAND H BODIE
JR

Nassau,

January 13, 2011.

Aim for the skies — and you
won't be disappointed

EDITOR, The Tribune.

Fellow Bahamians, Greetings.

Iam grateful to have been given this very small opportu-
nity to speak with all of you future leaders of our country,
school children, students, via these several lines courtesy of
The Tribune newspaper, thank you.

Children as you embarked upon another school year, I
entreat you citizens of this great country, The Bahamas, to
buckle down and give your school work the kind of attention
it deserves/needs and the kind of attention you are capable
of, to get the kind of results that are not only expected of you
by your teachers/parents, but yourselves. In other words, aim
for the skies and you will not be disappointed.

Finally, herein lies the concept: Children, you will attend
high school only once in your life time... Questions: How do
you wish to remember it? Would you like to remember it as
having wasted precious time and failed?

Would you want to remember it as having done your
best... and thus, succeeded. Better prepared for the future?

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A ‘


THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 5





THE judicial review hearing of
veteran prosecutor Cheryl Grant-
Bethell began in Supreme Court
yesterday.

Mrs Grant-Bethell is secking judi-
cial review on two matters. The first
is a decision taken by the Judicial
and Legal Services Commission
(JLSC) on May 11, 2010 purporting
to appoint her to the post of Deputy
Law Reform Commissioner. The
second relates to the proceedings
regarding her application for the
post of Director of Public Prosecu-
tions.

Her attorney Wayne Munroe said
yesterday that when former Director
of Public Prosecutions Bernard
Turner gave notice of his intention
to demit office, he had recommend-
ed that Mrs Grant-Bethell succeed
him.

Mrs Grant-Bethell wrote the
Attorney General on October 29,
2009, informing him of her expecta-
tion be appointed to the DPP post
upon Mr Turner’s resignation.

Mr Munroe further told the court
that on November 2, Mrs Grant-

LOCAL NEWS

Grant-Bethell judicial review

Bethell began acting as DPP assum-
ing the responsibility of the sub-
stantive post although no immediate
appointment had been made.

Mr Munroe noted that the posi-

SEEKING JUDICIAL REVIEW: Cheryl Grant-Bethell

7



el

tion was subsequently advertised.
He said Mrs Grant-Bethell submit-
ted her application for the post.
He said that on December 31,
2009, she met with the prime minis-

ter, who assured her he had advised

DPP.

post for a period of one year.

she would serve as Acting DPP.

Mr Munroe argued that the JLSC

had failed to comply with regula- i.
tion five of its rules, having kept no } ee erie : make :
minutes of any of the meetings with : ini its home camly thal ion:

i ing.
He told the court that on April }

Mrs Grant-Bethell.

20, 2010 Mrs Grant-Bethell again

met with the prime minister, at

which time an ambassadorial ; before Chief Magistrate

? Roger Gomez was not

: i required to enter a plea to the
Mr Munroe said that on May 4, ? murder charge. He has also
his client was advised of her appoint- } been charged with two counts
? of burglary. It is alleged that

Reform Commissioner, although she
; and robbed his wife of
He said that Mrs Grant-Bethell : ee oe
viewed the appointment as a lateral
? Moxey at Culmer’s Alley. It is

i alleged that when he was

appointment was offered to her.

ment to the post of Deputy Law

never applied for the post.

move and not a promotion.
The case continues today.

On Janaury 7, 2010, she was told Ce ae
‘ ? Court yesterday charged wi
that she would be appointed to the te Nowy ae Eve mde
3 ? of M Metellus.
She met with JLSC on Janaury : ea
11, 2010 and they determined that :

i ano Tucker, 23, of St James
? Road, with the murder of Mr

Bahamians are urged to use

online passport application






BAHAMIANS are being
encouraged to use a newly
launched online application
to apply for their passports
and make an appointment
through e-mail for enrol-
ment.

“T would strongly advise
persons to use that system
because it would free up the
waiting time at the office, it
would allow staff to pull the
files,” said Deputy Prime
Minister and Minister of
Foreign Affairs and Immi-
gration Brent Symonette.

The online application
can be found at the website
https://epassport.bahamas.go
v.bs/ecalendar/PreReq.aspx

Since the introduction of
machine readable passports
and ePassports three years
ago, the Passport Office in
Nassau has issued 126,000
passports.

Mr Symonette said this
number represents “a great
achievement”.

“The staff at the Passport
Office should be compli-
mented; they’ve done an

excellent job,” he said.

Bahamians anywhere in
the world can apply for their
passports through the For-
eign Missions in Washing-
ton, DC, Atlanta, New
York, Miami, Canada, the
United Kingdom and Chi-
na.

Mr Symonette also
addressed the question as to
why applicants need to sub-
mit their birth certificates
when renewing their pass-
port.

“One of the things we are
doing is updating our files
to make sure we have the
right birth certificate and the
right documents on file.
Some persons who have
passports should not be in
possession of a Bahamian
passport,” he said.

Meanwhile, another
aspect to the ePassport pro-
gramme is the introduction
of the mobile unit which
travels throughout the coun-
try processing renewals and
new passport applicants.
The unit is headed to Exu-



ma, and residents there are
being urged to have all the
necessary documents for
processing.

To date, the unit has
processed approximately
1,200 applicants.

Enrolled

Once the applicants are
enrolled and payment
received, the application will
go to the Data Entry
Department for document
scanning and then on to
approval and production of
the passport.

This process takes 12
days to complete.

So far, the mobile unit
has visited Eleuthera, and
still on the itinerary are Exu-
ma, Long Island and
Andros. There are three
members of the mobile unit
team — two enrolment offi-
cers and one IT officer.

The International Civil
Aviation Organisation
(ICAO), of which the
Bahamas is a member, has

College professor warns
of ‘economic apartheid’

mandated that by 2010, all
countries must begin issuing
machine readable passports
or ePassports.

The modern passport is
being upgraded from a sim-
ple paper document to a
more secure one — with bio-
metrics features, including
facial characteristics, and fin-
gerprinting.

BRENT SYMONETTE

ECONOMIST DR Olivia Saunders has
labelled the country’s economic model an oppres-
sive system that fails to empower and develop
Bahamians — and warned of disastrous conse-
quences if it is retained.

Dr Saunders, associate professor in COB’s
School of Business, delivered this assessment as
one of the presenters at the 20th Bahamas Busi-
ness Outlook on Thursday, January 13 at the
Wyndham Nassau Resort.

She said: “Our economic model perpetuates an
economic apartheid. We operate in a world cap-
italist system and operate an economic model
that hinders, nay restricts, our general citizenry
from owning capital in the key wealth generating
sectors, while fostering capital ownership from
within the Bahamas by non-Bahamians.”

The Bahamian economy is primarily services-
based, with the bulk of government revenue
earned through customs duties, taxes on inter-
national trade and indirect taxes.

Responsibility

Classifying this as a “dependency model”, Dr
Saunders said it causes the Bahamas to relin-
quish responsibility for its resources and therefore
control of its economy.

Under this structure, she said, residents are
limited to being labour providers and consumers,
while the owners of the economy — foreign
nationals and a small minority of locals — amass
great wealth.

Dr Saunders also characterised the current tax
regime, which places the burden of revenue gen-
eration primarily on consumers, as oppressive
because of its reliance on foreign investment.

“It is now time for us to put aside our reli-
gious devotion to this economic model we had in
place for well more than a century. An econom-
ic model is only a model of how an economy
functions. The Bahamas is much more than an
economy. The Bahamas is a nation. This nation

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



comprises human beings. The entirety of focus for
any policy-maker has to be the evolutionary pro-
gression of the nation — the evolutionary pro-
gression of its people and those institutions which
serve the people.”

The professor acknowledged, however, that
Majority Rule brought changes through invest-
ment in social institutions, especially education,
which engendered a higher quality labour force
and in turn allowed for broader and deeper par-
ticipation in the economy.

Mapping a course of action on the way for-
ward, Dr Saunders urged the adoption of an
inclusive, dynamic economic structure that
embraces the talents of the Bahamian people.

“Within the College of the Bahamas’ commu-
nity alone — faculty, students and graduates —
can be found persons who can find solutions to
any problems facing the country today. The
capacity to design any physical or organisational
structure for developing the country exists with-
in the Bahamas and its people.

“Bahamians are endowed with the aptitude,
the expertise to own and operate any organisation
we decide is vital to our progress, our develop-
ment and for nation building,” she said.

Dr Saunders delivered her presentation just
hours after Prime Minister Hubert Ingraham
told the same audience he understands the
impulse of some to downplay the resilience of
tourism, but said there is also a failure to recog-
nise the opportunity for diversification which
exists within the sector itself.

He added that tourism is one of the fastest
growing industries globally — one which industrial
economies were benefitting from long before
island economies recognised its enormous poten-
tial.

The prime minister said the extent to which
creativity and innovation can occur, will largely
depend on the ambitions, capabilities and pursuits
of the entrepreneurial community.



MAN CHARGED

WITH NEW YEAR'S

hearing begins in Supreme Court |

i Tribune Staff Reporter
? nmckenzie@tribunemedia.net
that she be appointed to the post of }

EVE MURDER

By NATARIO McKENZIE

A 23-year-old man was
arraigned in Magistrate’s

Police have charged Torri-

Metellus, 44.
Mr Metellus was shot and

His death was the 96th

? homicide for 2010.

Tucker, who was arraigned

he broke into Metellus’ home

i there he made death threats
? against Moxey and assaulted
i him with a handeun. Tucker
i pleaded not guilty to the

i charges.

His case was transferred to

? Court 6, Parliament Street,

i for a preliminary inquiry

i despite his protest that he

? would not get a fair hearing

? there. The case was adjourned
? to January 26.











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PAGE 6, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



Tele-ambulatory service to help

combat trauma cases increase

TUNISIA

ANNOUNCES

NEW GOVT

TUNIS, Tunisia
Associated Press

TUNISIA took a step
toward democracy and rec-
onciliation Monday,
promising to free political
prisoners and opening its
government to opposition
forces long shut out of
power — but the old guard
held onto the key posts,
angering protesters.

Demonstrators carrying
signs reading "GET OUT!
demanded that the former
ruling party be banished
altogether — a sign more
troubles lie ahead for the
new unity government as
security forces struggle to
contain violent reprisals,
shootings and looting three
days after the country's
longtime president fled
under pressure from the
streets.

"We're afraid that the
president has left, but the
powers-that-be remain,”
said Hylel Belhassen, a 51-
year-old insurance sales-
man. Even before the new
government was
announced Monday, secu-
rity forces fired tear gas to
repel demonstrators who
see the change of power as
Tunisia’s first real chance
at democracy.

President Zine El
Abidine Ben Ali fled Fri-
day to Saudi Arabia after a
month of protests over
unemployment and cor-
ruption led to his downfall
after 23 years in power.

The government
announced Monday that 78
civilians have died in the
month of unrest — an
announcement that under-
lined the depth of the vio-
lence in the usually placid
Mediterranean tourist des-
tination.

Under autocratic Ben
Ali, Tunisia was effectively
under one-party rule. The
new government named
Monday includes three
ministers from the opposi-
tion — a first in Tunisia —
but members of Ben Ali's
RCD party held on to most
of the jobs, including the
most important posts.

Security forces have got-
ten an image makeover in
the public mind. The once-
feared police have been
fighting snipers and armed
groups widely believed to
be Ben Ali loyalists.

Nearby nations, mean-
while, faced a wave of self-
immolation attempts Mon-
day, apparently influenced
by the desperate Tunisian
man who set himself on
fire a month ago, sparking
the protests that brought
his president down.

In Tunisia, hundreds of
stranded tourists were still
being evacuated and for-
eign airlines gradually
resumed flights that were
halted when Tunisian air-
space closed amid the
upheaval.

Besides the 78 civilians
killed in the monthlong
protests, Interior Minister
Ahmed Friaa said 94 civil-
jans were injured — a jump
from the previous official
death toll of 23. The new
figure does not include
members of security forces,
some of whom also died,
Friaa said.

Among victims of the
violence was a French pho-
tojournalist who died Mon-
day after being hit in the
face with a tear gas canister
three days earlier.

The French Foreign
Ministry said Loucas Von
Zabiensky-Mebrouk, 32,
was the "victim of a delib-
erate homicidal act.”

The troubles have rever-
berated to the tourist-
based Tunisian economy,
which Friaa said has lost
$2 billion because of the
unrest.

Resort towns like Ham-
mamet are boarded up and
under police control, said
Norredine Gohdbani, who
worked in a restaurant
there and has returned to
stay with his family in
Tunis.

Friaa told reporters that
85 police stations have
been damaged around the
country, along with 13
town halls, 43 banks, 11
factories and 66 stores or
shopping centers.

THE country’s tele-medicine pro-
gramme will be further expanded
to include a tele-ambulatory com-
ponent to help deal with the increase
in trauma cases, Minister of Health
Dr Hubert Minnis said Friday.

According to the National Emer-
gency Medical Services Department,
the estimated 44 per cent increase in
gunshot victims in 2010 compared
to the previous year and an overall
rise in trauma cases is taking a
“major toll” on the health care sys-
tem.

To help combat this problem, a
tele-ambulatory programme will be
launched in New Providence.

Dr Minnis said the programme,
which will start with at least one
emergency medical service vehicle at
the Princess Margaret Hospital
(PMH) being outfitted with tele-
medicine capability in its initial
stage, will play a major role in
expanding critical care to victims at
the scene of traumatic events such as
shootings, knifings and road traffic
crashes.

Emergency medicine physicians
at the Accident and Emergency
Department of the Princess Mar-
garet Hospital — led by Dr Colin
Bullard, an emergency medicine
specialist and coordinator of the
tele-medicine programme — will be
able to diagnose and commence
treatment of trauma patients on site
via video-conferencing.

Dr Minnis said this capability will
not only significantly reduce the
time between trauma and treatment,
but will also have a domino effect on
the management of trauma and oth-
er cases at PMH as increased
demand for bed space is one of the
negatives associated with increased
trauma cases.

The tele-ambulatory service is part
of a wide-scale initiative by officials
of the Ministry of Health, the
Department of Public Health and
the Public Hospitals Authority to
address treatment of the rising num-
ber of trauma cases either present-
ing, or being transported to, the
Accident and Emergency Depart-
ment of the Princess Margaret Hos-
pital, Dr Minnis said.

Health officials have developed a
number of other initiatives to

-

address the issue, including expand-
ing the Accident and Emergency
Department of PMH and beginning
work on the construction of a new
treatment facility at the former City
Market building on Market Street.

An education and training pro-
gramme has also been established
with a number of teaching and med-
ical facilities throughout the United
States and Canada whereby
Bahamian emergency medicine per-
sonnel can share experiences and
best practices with their interna-
tional and regional counterparts via
video-conferencing.

Trauma cases, including those
related to shootings, knifings and
traffic crashes, have “dramatically”
increased the need for bed space in
the Accident and Emergency Sec-
tion of the PMH, Dr Minnis said.

“The whole idea is that trauma
physicians in the emergency room



will be able to commence treatment
of the patient at the accident site or
roadside and that will improve the
quality of care and improve the out-
comes of those patients,” he said.
“Additionally, our emergency
room doctors can continue to mon-
itor and treat the patient while
enroute to the hospital, which will
improve the quality of critical care to
the patient. There is no doubt that
the introduction of the tele-ambu-
latory service will have great impact
not only on the quality of life of vic-
tims of trauma, but also reduce some
of the costs associated with the treat-
ment and care of trauma patients.”
Dr Minnis said trauma cases
involving gun shot and stab wounds,
and injuries from road traffic crash-
es, are on the increase and are hav-
ing “great impact” on PMH as trau-
ma cases “take precedence over a
lot of cases because they are such

an emergency or life and death sit-
uation.”

He said in addition to requiring
large amounts of bed space, the cas-
es carry significant external, internal,
psychological and financial burdens
on the victims and indeed the
healthcare system of the Bahamas.

Dr Minnis said while the external
injuries are obvious, the internal and
psychological ones are less obvious
and involves a wide range of care.

“Trauma cases have great impact
because those cases not only take
up quite a bit of bed space, but they
also increase demand on the Inten-
sive Care Unit which is thousands
and thousands of dollars, in addi-
tion to placing a high level of
demand on the human resources of
the healthcare facility insofar as sur-
gical and medical staff are con-
cerned,” Dr Minnis said.

Tele-medicine programme for Family
Islands gets vote of confidence

DUNDAS TOWN, Aba-
co — The tele-medicine pro-
gramme between the
Princess Margaret Hospital
in New Providence and the
Marsh Harbour Clinic in
North Abaco received a
major vote of confidence
this week when one of its
first patients proclaimed he
“would not have been alive
today if the programme had
not been implemented.”

Charles Bartlett made the
statement during a town
hall meeting at the Friend-
ship Tabernacle Church in
Dundas Town, Abaco last
week. The meeting was
held to inform residents of
the proposed expansion of
the programme to include
a dermatology clinic.

Minister of Health Dr
Hubert Minnis led a dele-
gation of health officials
from New Providence to
Abaco. They included spe-
cialist physicians Dr Her-

MINISTER OF HEALTH Dr Hubert Minnis in Abaco.





bert Olander, a dermatolo-
gist, and Dr Colin Bullard,
an emergency medicine
specialist who serves as the
coordinator of the tele-
medicine programme.

“The tele-medicine pro-
gramme saved my life. I
would not have been here
today without it,” Mr
Bartlett proclaimed to a
round of applause. “I am
alive, well and healthy
today because of the pro-
gramme.”

Dr Minnis said that
because of its early success-
es, the programme will be
expanded to include a tele-
dermatology clinic. That
expansion will take place
on Friday, January 21, 2011.

The Health Minister said
the expansion of the pro-
gramme into dermatology

will go a long way in treat-
ing and reducing the num-
ber of skin disorders that
are affecting Bahamians.

Abaco, he said, is the
Starting point for the pro-
ject.

As with the initial tele-
medicine programme, Aba-
conians with skin disorders
will now be able to be
assessed by Dr Herbert
Olander and his team of
dermatology professionals
at the clinic in Abaco —
thereby reducing their need
to travel into New Provi-
dence for dermatology con-
sultations/treatment.

Dr Minnis said medicines
for various skin disorders
are already on location to
facilitate any prescriptions
written by Dr Olander and
his medical staff.

“The purpose of the pro-
gramme is to ensure that
every Bahamian, on every
island within the Common-
wealth has access to the
same kind of quality health-
care treatment as those
residing in New Providence
and Grand Bahama,” Dr
Minnis said.

“There is no doubt that
small-island states such as
the Bahamas face chal-
lenges in constructing full-
scale, specialist medical
facilities on every island and
every cay because of our
archipelagic make-up.

“Tele-medicine will allow
us to overcome those chal-
lenges, and once the infra-
structure is put in place,
Bahamians and visitors
alike in far-flung islands
such as Inagua and

Mayaguana will be able to
receive the same kind of
specialist care and attention
as those in New Providence
and Grand Bahama,” Dr
Minnis added.

He said the programme
has positively impacted the
provision of quality health-
care services to mainland
Abaco and its surrounding
cays by increasing access to
emergency and other care,
helping to reduce the need
for air ambulatory services
for critically injured persons
who can now be assessed
on the ground in Abaco,
and by reducing the need
for travel into New Provi-
dence for consultations.

Similar successes, he said,
should be attained in the
other islands of The
Bahamas.

“What the tele-medicine
programme has done is that
it has allowed medical per-
sonnel in New Providence —
led by Dr Bullard and his
team — to liaise with med-
ical personnel in Abaco to
assess, examine, diagnose
and treat patients,” the
Health Minister said.

“This has helped to
expand the healthcare ser-
vices provided into Abaco
as specialist physicians are
able to review cases in ‘real
time’ and provide examina-
tions as if they were actual-
ly on location reviewing the
patients themselves — the
system is just that good.”

Dr Minnis said health
officials will expand the
programme into a number
of other Family Islands
within the near future.

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THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 7



LOCAL NEWS



Lyford Cay Foundation
makes donation to the
Mackey Yard fire victims

THE Lyford Cay Foun-
dation (LCF) said it has
made an emergency gift of
$10,000 to the Salvation
Army of the Bahamas and
Great Commission Min-
istries to help underwrite
their efforts to provide
shelter, food, clothing and
other supplies to the vic-
tims of the devastating
Boxing Day fire which left
hundreds of people in the
area known as Mackey
Yard homeless.

“The Foundation’s aim is
to lend assistance that is
likely to have a long-term
benefit, but we also recog-
nise the critical nature of
short-term need and decid-
ed to act immediately to try
to help the many men,
women and children dis-
placed by this tragedy,”
said Kylie Nottage, chair of
LCF's Gifts and Grants
Committee.

“We have worked exten-
sively with the Salvation
Army of the Bahamas and
Great Commission Min-
istries in the past, and we
know that they are able to
reach out quickly and effec-
tively to get help to people
in need in the community.”

The LCF said it has given
a total of $139,968 to the
Salvation Army and
$25,718 to Great Commis-
sion Ministries over the
years to fund their various
philanthropic projects.

These two groups —
along with other non-prof-

STN ie torn tok i
J yy U ARY Cake Cutting, Junkanoo Rush-Out,

22”, 2011

Tonique Williams Darling Highway

its, faith-based organisa-
tions and government agen-
cies — mobilised right
away to lend humanitarian
assistance to the victims of
the fire, primarily by pro-
viding them with food,
water, clothing, blankets,
pillows, cots and a host of
personal care items.

Given their limited funds
and the increasing demand

COOK MARIE ROLLE prepares a
hot meal at the Great Commission

Ministries Feeding Centre.

able to assist more sur-
vivors with more of their
immediate needs.”

The Boxing Day fire
destroyed 120 shanties in
what is believed to be one
of the oldest Haitian vil-





for their services at this Jages in New Providence.
economically challenging About 350 people were
time, neither organisation displaced in the tragedy.
was sure how longit would

be able to keep up this

wor GREAT CAINE! | IMS
The Foundation gift was FOOD COMMISSION gs ae

very timely, as we were ! BANK MINICTROIFTG
Minalee Hanchell, execu. PRPPe i, : * at
tive director of Great Com- . % - ] i
feeds hundreds of people
Marsha Kanady, commu-
similar sentiments.
efforts for the fire sur-
to purchase these items.

challenged with serving

mission Ministries, which / (

daily. “We will continue to

nity relations and develop- i ai ‘
“The Lyford Cay Foun-

vivors,” she said.

With this gift we will be





HANDS FOR HUNGER delivers
food donated by Atlantis to
Great Commission Ministries
at #16 Wulff Road.

both our regular clients and
provides emergency shel- j
reach out to the victims and iv
=
ment associate at the Sal-
dation's gift will make a
“Disaster supplies are not

the disaster victims,” said
ter and counselling, and
their families.” ~
vation Army, expressed
huge difference in our relief
cheap, and it takes funding

1* Year Anniversary
with a day filled with
entertainment,

fun and laughter.

UT ew UL |
at $10 per person
FREE entrance all day!

Fireworks Display, Bouncing Castle,
Face Painting, Popcorn,

Cotton Candy & Snowcones.

Call 326-8010 for information.

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PAGE 8, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





Education + politics
= illiteracy + waste

By RALPH J MASSEY

UNFORTUNATELY
..the failure of public edu-
cation in both the U. S.
and the Bahamas ranks
close to jobs and budget
deficits as one of the most
difficult public policy
issues of the day. The evi-
dence of the public educa-
tion failure in the U.S. and
the Bahamas is clear.
However, the average citi-
zen cannot help but be
confused about what is
wrong and what should be
done. The evidence is
clearer with respect to the
US, but it is relevant to the
Bahamas.

Explosive Documen-
taries

The level of academic
achievement in the U. S.,
the long-standing status
quo, promises catastrophic
long-term economic and
social consequences. The
20th Century world super-
power ranks 24th behind
virtually all advanced
Asian and European coun-
tries in international aca-
demic rating systems.
Academically it is under-
achieving; and two recent-
ly released full-length film
documentaries deal with
this.

“Waiting for Super-
man” is in limited public
distribution; and in late
February it is expected to
win the Oscar for Best
Film Documentary. It
focuses on a particularly
successful type of school
that flourishes in urban
low-income neighbour-
hoods.

“The Cartek education
+ politics = $” is about
New Jersey, the state with
the highest expenditures
per student in America
and an unacceptably low
academic achievement
ranking.

One should note that
New Jersey has three types
of public schools:

¢ Regular public schools
with teachers in teachers’
unions,



¢ Magnet public schools
that have a specialized cur-
riculum also with teachers
in teachers’ unions, and

¢ Charter schools that
are publicly owned but pri-
vately operated with teach-
ers who are not in teach-
ers’ unions.

The New Jersey Reality
Show

The latter documentary
argues that in New Jersey
there is a Cartel made up
of unions, school boards,
the New Jersey Depart-
ment of Education and
politicians that collude sys-
tematically for their gain
at the expense of students
and the state's tax payers.

The immediate losers
are the students as mea-
sured by what they don't
know and cannot do on
leaving school and a state
financial budget that has
been out of control.

The documentary
describes and illustrates
how the Cartel works with
interviews and hard
data...a simply fascinating
one hour and thirty-two
minute tour de force.

One example is a new
$30 million football stadi-
um at Shabazz High
School located in a low
income district where only
14 per cent of the students
get a passing grade in
math...a startling contrast
of wasteful spending and
academic failure.

The Obsolete Paradigm

The obstacle to educa-
tion reform in large mea-
sure is the political power
of the New Jersey Educa-
tion Association (the
NJEA, the teachers
union).

The issue is not the qual-
ity of 60 to 70 per cent of
public school teachers;
rather it is the 30-40 per
cent that are not and can-

Ch Bethel Brothers Morticians

Telephone: 322-4433, 326-7030
Nassau Street, P.O.Box N-1026

Memorial Service For

DERYCKERE, 63

of Soldier Road and formerly of
Belgium, will be held on Thursday,
January 20th at 11am at Sacred Heart
Catholic Church, East Shirley Street.
Fr. Mel Taylor will officiate.

He is survived by his wife, Esther
Deryckere; one daughter, Jacqueline
Deryckere; one son, Richard Deryckere;
his parents, Richard and Erna

Deryckere of

Belgium; two

grandchildren, Cassandra Deryckere
and Sky Anthony Deryckere; four
sisters, Karine Demersman, Michelline
Tonitte, Domongie DeVuyst and
Martine Alemeda; and a host of other
relatives and friends.

Pre-Cremation.

In lieu of flowers, please send donations
to the Ranfurly Home for Children



not be fired for cause.
Teachers achieve tenure
after three years and one
day of service; and they
are protected against
unlawful discharge by a lit-
igation process that the
NJEA zealously uses to
block 99.7 per cent of all
proposed separations.
Because of the costly liti-
gation hurdle, it is virtual-
ly impossible to fire a
teacher.
And...guaranteed
employment-for-life has
disastrous consequences:

1. Learning Impairment.
Students who get more
effective teachers have an

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Ff Gg Hh Li Jj Kk
LI Mm Nn Oo Pp

Qq Rr Ss Tt Uu Vv
Ww xx Yy 22



extreme advantage while
those with poor teachers
experience a “near-perma-
nent retardation of acade-
mic achievement.”

Strong evidence supports
the conclusion that a good
teacher will produce “a
student gain of one anda
half grade-level equiva-
lents during a single acad-
emic year; whereas a bad
teacher will produce a gain
of only a half year...and...it
is likely that the typical
student will get a run of
bad teachers.”

2. Picking Good Teach-
ers. It is extremely difficult
to identify those teaching
candidates that will pro-
duce superior student-
learning gains. Unfortu-
nately, “teacher-education
courses taken” or a
teacher's Intelligence Quo-
tient are not good indica-
tors of future teaching suc-
cess.

It helps if teaching can-
didates have under-gradu-
ate degrees in specific aca-
demic fields; however, Eric
Hanushek, the leading
education economist, con-
cludes that what happens
after a teacher is hired
reveals more valid indica-

tors of teacher effective-
ness; and he strongly rec-
ommends that teacher
rewards and promotions
should be tied to the mea-
sured academic gains reg-
istered by a teacher's stu-
dents.

Such a policy means
that a school district must
engage in a continual
process of hiring, evaluat-
ing and firing to acquire a
stable of quality teachers
in order to avoid trapping
unfortunate students in a
series of poor
teachers...thus creating a
life-time learning impair-
ment. In this case the
“best practice” is the polar
opposite to employment-
for-life.

The Inconvenient Truth

The Cartel documen-
tary, however, identifies a
genuine road map to
extract New Jersey from
the present quagmire
.. Namely, the unleashing
of its existing charter
school programme and
combining it with student
education vouchers given
to all students who redeem
them at the public or pri-
vate schools that accept
them.

The past performance
record of charter schools
maybe viewed differently
depending on the analyst.
Up until now the New Jer-
sey Charter Schools have
been approved and regu-
lated by the Cartels and it
is no surprise that the total
number of charter school
students is very small. This
creates an excess number
of students applying to
charter schools; in this sit-
uation the state mandates
the use of lotteries to
determine who gets admit-
ted.

Teachers unions are dia-
metrically opposed to
charter schools since they
allegedly drain financial
resources from unionized
to non-unionized schools;
and thus their objective is
to limit their success.

Progressives and liberals
generally favour existing
U.S. Government voucher
programmes like the GI
Bill and Pell Grants that
support college atten-
dance, food stamps and
housing vouchers; but they
abhor school vouchers.

The inconvenient truth
is that education vouchers
split the funding of educa-
tion from the delivery of

education services. The
New Jersey charter schools
may produce higher acad-
emic achievement and/or
a “safer” learning environ-
ment; but The Cartel
prefers to fund regular and
magnet public schools.
That's the Inconvenient
Truth.

However, the newly
elected Governor Chris
Christie is on a mission to
change this.

The Bahamas

What do we know about
public school reform in the
Bahamas?

The good news is that
the nation has a Minister
of Education who is deal-
ing with the Department
of Education in an effec-
tive way.

The bad news is that he
inherited the “New Jersey
good teacher/bad teacher”
problem; and he must deal
with long-standing and
deeply-ingrained beliefs
that are hostile to the New
Jersey reform programme.

And...there is a need for
anew ten-year plan with a
convincing Bahamian
strategy.

There is nothing easy
about this task.

New $20,000 scholarship
for those wishing to enter
the financial services sector

A NEW entrance scholarship val-
ued at $20,000 has been established
by the Lombard Odier bank as a
result of its relationship with the Col-
lege of the Bahamas.

According to COB, the bank — one
of the oldest private banking firms
in the Bahamas — has created this
scholarship to “help cultivate a new
cadre of professional talent in the
financial services sector”.

The Lombard Odier Darier
Hentsch Private Bank and Trust
Limited Entrance Scholarship makes
$5,000 per year available to a stu-
dent with demonstrated academic
excellence pursuing a full-time
undergraduate degree at the College
in banking and finance with a for-
eign language, COB said in a state-
ment.

“Young adults would agree that
tourism is great, but private banking
is another great option,” said Christ-
ian Coquoz, senior vice-president of
Lombard Odier.

“We want to provide an opportu-
nity for students who are interested
in the banking arena to have the
funds necessary to pursue higher edu-
cation.”

Graduates of COB’s School of
Business have through their profes-
sional pursuits made vast contribu-
tions to the development of the finan-
cial services sector. Many of them
hold leadership positions across the
industry and have developed valu-
able innovations, the college said.

Dr Betsy Boze, College president,
lauded Lombard Odier as a gener-



“This is an
outstanding gift
which demonstrates
that Lombard Odier

recognises the critical

importance of
supporting high
achieving students
and fostering unique
opportunities for
student development
in the banking and
finance sector.”



Dr Betsy Boze

ous benefactor committed to the
development of future Bahamian
banking and finance leaders.

“This is an outstanding gift which
demonstrates that Lombard Odier
recognises the critical importance of
supporting high achieving students
and fostering unique opportunities
for student development in the bank-
ing and finance sector," she said.

In addition to COB Entrance
Scholarship, the bank said it has also
developed an innovative programme
which identifies an academically



promising seventh grade student for
mentorship throughout high school
and then provides a scholarship for
tuition. In this way, the bank said it is
acting on its commitment to educa-
tion from the secondary to tertiary
levels.

“Rather than just make a donation,
we really want to associate ourselves
with said Mr Coquoz.

“At one stage, that student will per-
haps do a summer internship here
and then receive a scholarship. Basi-
cally this is a ten-year commitment.”

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TUESDAY, JANUARY 18, 2011, PAGE 9



LOCAL NEWS



BNT Discovery Club
members experience
the great outdoors

BAHAMAS National Trust
Discovery Club Members from
Oakes Field Primary and St
Andrew’s School participated
in their first camping activity
just before the Christmas.

Club members took ‘Camp-
ing 101’ where they were intro-
duced to pitching a tent, rolling
a sleeping bag and how to man-
age good personal hygiene with
very little water.

Campers were able to prac-
tice their newly acquired skills
immediately as they travelled
deep into the Retreat gardens,
their campsite for the evening,
to pitch their tents and get
acquainted with their tent
mates.

Most of the campers had a
good laugh as they accepted the
challenge of cleaning up for bed
with only two baby wipes each.

Despite an evening rain, the
campers’ spirits were not damp-
ened as they gathered together
for songs and ghost stories led
by Discovery Club leaders Matt
Holten and Hilary Lockhart.

Once the rain ended the
group gathered around the
camp fire for the traditional
roasting of marshmallows and
more stories.

The campers arose at 6am to
make breakfast, wash dishes
and clean up their campsite.

Urgent plea for blood donations
FAMILY and friends of Millie Lleida have made an urgent

plea for blood donations.

Mrs Lleida is in the Intensive Care Unit at Doctor’s Hospi-

tal after undergoing surgery.

Anyone with the blood type “O” is asked to visit the hospi-
tal urgently and ask to donate blood to Mrs Mildred Lleida.



CAMPING 101:



According to Shacara Light-
bourne, BNT Discovery Club
coordinator, the camp was a
great success.

“We are always pleased
when two different clubs decide
to camp together. It allows
young people from different
backgrounds to experience fel-
lowship and share experiences
while learning to appreciate
their natural environment.”

PARAGUAY:

Amnesty says ‘Baby Doc’ must face | tewure

BY GUERRILLA

justice for Haiti rights violations —— scaccsons

ASUNCION, Paraguay

AMNESTY International yesterday urged the Haitian
authorities to bring former president Jean-Claude Duva-
lier — also known as ‘Baby Doc’ - to justice for human
rights abuses committed during his regime in the 1970s
and 80s.

“The widespread and systematic human rights viola-
tions committed in Haiti during Duvalier’s rule amount to
crimes against humanity. Haiti is under the obligation to
prosecute him and anyone else responsible for such
crimes,” said Javier Zufliga, special advisor at Amnesty
International.

Jean-Claude Duvalier returned to Haiti on Sunday
after nearly 25 years in exile in France. He fled Haiti in
1986 after a popular uprising which was violently
repressed by the former Haitian Armed Forces and a
local militia known as the “tonton macoutes” after the
boogeymen said in local children’s fables to walk the
streets after dark.

Throughout his 15 years in power (1971-1986) systemat-
ic torture and other ill-treatment were widespread across
Haiti, Amnesty International said.

Hundreds of people “disappeared” or were executed,
the organisation said.

Members of Haiti’s armed forces and the National
Security Volunteers militia - also known as the “tonton
macoutes” — played a primary role in repressing pro-
democracy and human rights activists. The “tonton
macoutes” were disbanded in 1986 after Jean-Claude
Duvalier went into exile.

“The Haitian authorities must break the cycle of
impunity that prevailed for decades in Haiti,” said Mr
Zufiiga. “Failing to bring to justice those responsible will
only lead to further human rights abuses.”

HAITI'S FORMER DICTATOR Jean-Claude ‘Baby Doc’ Duvalier,
center, waves to supporters from a hotel balcony after his arrival in
Port-au-Prince, Haiti, Sunday Jan. 16, 2011. (AP)



A LEFTIST guerrilla
group has claimed respon-
sibility for a bomb that
injured five people as
Paraguay's third bombing in
a week raised alarm about
increasing activity by the
self-styled Paraguayan Peo-
ple's Army, according to
Associated Press.

A handwritten letter left
nearby vowed to continue
anti-government attacks and
to show no mercy for police
shootings of their comrades.

Interior Minister Rafael
Filizzola flew to the scene
Monday hours after the
bomb exploded just before
midnight. He vowed no
retreat in the effort to jail
the guerrillas and dismantle
their organization, known
by the Spanish initials EPP.

The latest homemade
bomb was left in a backpack
outside a police station in
Horqueta, a small town in
northern Paraguay that is
home to fugitive members
of the EPP. Someone deto-
nated it by remote control
as four officers sat in a police
vehicle nearby. All four
were expected to recover,
although one had serious
eye damage, special forces
commander Elizardo Rojas
said. A fifth victim — a
motorcyclist passing by —
sought treatment for hear-
ing damage at a hospital and
was being sought as a wit-
ness.







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

JAPANESE MARITIME REPRESENTATIVES
PAY COURTESY CALL ON MINISTER

JAPANESE maritime representatives paid a cour-
tesy call on Environment Minister Ear] Deveaux to
introduce their choice for the International Maritime
Organisation’s Secretary General post, Koji Sekimizu,
the current director of the Maritime Safety Division.

Mr Sekimizu campaigns on the mission of ensuring
safety at sea and the emerging issues of anti-piracy solu-
tions.

The Bahamas is the third largest ship registry in the
world, following Panama and Liberia, and holds an
influential position on the IMO.

Pictured from left to right are Ronald Thompson,
Environment Permanent Secretary; Mr Deveaux; Nori-
fumi Idee, director general of Japan’s Maritime Bureau;
Yasuhisa Mitani, director general of Japan Ship Centre
(JETRO).

Gena Gibbs/BIS


PAGE 10, TUESDAY, JANUARY 18, 2011

THE TRIBUNE



LOCAL NEWS



Male student
gives emotional
testimony in
teacher sex case

FROM page one

incidents started while he
was in the seventh grade and
continued up to the 12th
grade, and once after he had
graduated.

Justice Hartman Longley
presides over the case, which
is before a jury of seven men
and two women.

Ambrose Armbrister and
Erica Kemp of the Attor-
ney General’s office are
appearing on behalf of the
Crown.

Birbal, a Trinidadian, is
charged with two counts of
unnatural sexual intercourse
with two male students
under the age of 18 between
January 1, 2002, and June
2007, and again between
September 1, 2001 and Feb-
ruary 28, 2007.

Carlson Shurland is rep-
resenting the 48-year-old
former school teacher of the
Bight Mile Rock High
School.

McMasters told the Court
that Birbal was one of two
art teachers at the school.
He said Birbal’s classroom
was located in the back of

the school campus near the
basketball court.

He said there was wallpa-
per on the windows in Bir-
bal’s classroom. The win-
dows were never opened
and you couldn’t see out-
side. McMasters also
recalled that the heavy
wooden door of the class-
room had one lock on the
outside and three additional
locks on the inside.

McMaster said the first
encounter occurred in the
classroom during the last
period when he was alone
finishing his work.

He said Birbal asked him
to open his mouth. He said
Birbal held his jaw and
asked him, “Why after all
this time you ain’t get your
mouth fix?”

According to McMasters,
Birbal went to his car and
got a big camera out of the
trunk. He returned to the
classroom, locked the doors,
and starting taking pictures
of him smiling.

He said Birbal then start-
ed unbuttoning his shirt. Bir-
bal moved his hand away
and continued to take off

McMaster’s shirt, his under-
shirt, and then his pants.

He said the art teacher
took more pictures of him.
After the sexual encounter,
McMasters said he blacked
out and remembers waking
up after being wet up.

McMasters was very emo-
tional, pausing, and even
shaking at times while giving
his testimony in the witness
box, prompting Justice Lon-
gley to ask whether he need-
ed a break.

At one point he bent
down behind the witness
box, and was told several
times by the judge and pros-
ecutor to speak up.

McMasters said after wak-
ing up he ran home and
went to the bathroom. “My
hip was wet and sat on the
toilet to stool because my
belly was hurting, but I
could not stool,” he recalled.

He wiped himself with tis-
sue and saw some “white
stuff” and blood, and felt a
burning in his hip.

McMasters said after the
first ordeal Birbal put $50
in his hand.

He said Birbal continued

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to have sex with him over
the years and he became
used to it. Birbal would
force sex on him when he
tried to resist.

McMaster testified that
Birbal sometimes used con-
doms. He also used lubri-
cants,

McMasters said he was
afraid to tell anyone because
of the embarrassment of
being called a sissy, and get-
ting “cut ass” from his moth-
er.

Birbal gave McMasters
money, and had even got his
church folks to donate
monies for braces for
McMasters’ teeth. He also
bought him an MP3, and
would give him groceries
from his apartment to take
home.

McMasters said one time
Birbal picked him up for a
dentist appointment and
took him to Deadman’s
Reef in West End. He said
Birbal parked his car on a
track road.

“He hold my hand and zip
down his pants... and tell
me to suck his things,” he
told the court.

When asked by Mr Arm-
brister what he meant by
“things,” McMasters
explained.

He also recalled an inci-
dent at Birbal’s apartment.
Birbal went to the bathroom
and came out naked and
had sex with him.

While there, he said Bir-
bal showed him some boys
having sex on the comput-
er. He also saw photographs



CHARGED: Andre Birbal

of other boys, including him-
self, that were stored on a
computer memory card.

McMasters said when he
asked Birbal who the boys
were, Birbal told me that
there were other boys he
was seeing, but he could not
tell him who they were.

He said sexual intercourse
was very uncomfortable, and
painful especially to his
stomach and hip. There was
also the feeling of not being
able to stool.

When Armbrister asked
McMasters if he could rec-
ognize Birbal, McMasters
said Birbal was sitting in the
court, wearing green
trousers, white striped shirt,
and jacket.

Under cross-examination,
Carlson Shurland asked
McMasters when he first
reported the incident.

McMasters said he report-
ed the incident to police
after he had graduated from
school in 2007. He said he
also told his father that Bir-
bal had raped him.

Mr Shurland asked
McMasters if Birbal was the
only persons he had sexual

intercourse with, and he
replied, “Yes.”

He said Birbal had sex
with him one time after he
had graduated, and he
destroyed his cellular phone
so that Birbal could not have
contact with him anymore.

Do you have HIV? asked
Shurland. McMasters said
he did not, but that he
thought he had the disease
and had told the police offi-
cer Brown that he had HIV.

He said he also told the
principal, but Birbal denied
it. He said the principal did
not believe him and so he
said he lied because he was
fed and people were telling
him what to say.

“In 2009 ...you met Troy
Garvey who told you you
could make a lot of mon-
ey?” asked Shurland?

“Not that I recall,”
McMasters replied.

“Tt is your intent to bring a
civil suit against the Ministry
of Education?” Shurland
continued.

“No, I don’t,” answered
McMasters.

The trial continues on
Tuesday.

US relaxation of Cuban travel ‘won’t
affect Bahamas in the short term’

FROM page one

groups and students to travel to Cuba. How-
ever, the US still maintains its long-held trade
embargo with the Communist island.

"It's in humanitarian interest and something
that has been talked about for a long period of
time.

“T have no concerns to those kinds of devel-
opments, but it is something that is obviously,
were it to go much farther than that, will have
a significant impact on our business in the
short-term," the tourism minister said when
contacted by The Tribune for comment yes-
terday.

"I don't think it will (have an impact) in the
short-term because it's really limited to a spe-
cific category of travel."

The new relaxed measures are seen as part
of the inevitable opening up of Cuba for
American travel, a future possibility that could
increase competition for the US market. Cur-
rently Americans account for more than 80

per cent of the Bahamian tourist market. Mr
Vanderpool-Wallace said this is one of the
reasons that his ministry is focused on brand-
ing each of the family islands as different des-
tinations in an effort to make the Bahamas
more appealing.

"In very simple terms, part of the reason
that we are developing the Bahamas to go
beyond Nassau and Paradise Island is to pro-
vide more products for the travelling product
as opposed to them perceiving us as having
just a singular product in the Bahamas.

"So the faster we can get the air connec-
tions to all the other islands and get those oth-
er island destinations established, we then find
ourselves with many more products to sell to
be more competitive compared to where we
are today. That is all related to us being more
competitive for that eventual day."

Last week, Mr Obama said he would instruct
the relevant American government agencies to
allow certain groups — religious and students —
freedom to travel to Cuba.

Police confident of solving murders

FROM page one

Williams was found near the
OK Bar on East and Hay
streets sometime before
midnight with multiple gun-
shot wounds.

At yesterday’s press con-
ference, assistant commis-
sioner Leon Bethel, who
heads the Central Detective
Unit told the media that
they are probing a number

of leads into the shooting
death of Inderia Barry, who
was shot in the head on Sat-
urday morning. He said that
they have obtained the help
of a pathologist and a foren-
sic scientist to assist them in
their investigation.

The two other murders on
Sunday, he said, are expect-
ed to be “wrapped up” very
shortly.

Commissioner Greenslade
commended his officers for

their hard work and com-
mitment to their jobs, point-
ing out that in 2010 they
charged 87 persons and con-
tinue to make arrests every
day.

“Tt is our intention to
maximize to the fullest all
of the resources entrusted
to our care. You can expect
to see a more robust and
presence response from the
police force in the future,”
he said.

Residents braced for ‘severe weather’

FROM page one

was forecast to affect Bimini, however the tiny
island was later dropped from the weather
advisory.

Residents in affected areas were warned
to stay indoors and away from windows as a

precaution against possible water spouts, small
tornadoes, hail, and localized flooding.

Boaters were also advised to remain at port
until weather conditions improved.

Up to press time, meteorological officials
had extended the warning to 7.50pm, when
the last of the system was expected to pass
into the Atlantic Ocean.

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


Bahamas eyes
1500 visitor
boost in ‘12

By ALISON LOWE
Business Reporter

Tourism officials have
welcomed news that the
Bahamas will host the
Caribbean’s biggest
tourism trade show -
Caribbean Marketplace -
in 2012, with the expecta-
tion that it will not only
bring around 1,500 extra
visitors to Nassau but also
give the country a chance
to showcase its tourism
offerings to buyers and
global media.

The Bahamas was con-
firmed as the venue for
Caribbean Marketplace
2012 as the 2011 event
opened in Montego Bay,
Jamaica, on the weekend,
where stakeholders from
the Bahamas and across
the Caribbean gathered to
do deals in the tourism
industry and assess the cur-
rent environment.

In an area with 3,000
hotel rooms in the immedi-
ate vicinity of the event,

which is taking place at the

brand new Montego Bay
convention centre, and
2,500 rooms in the sur-
rounding areas, president
of the Jamaica Hotel and
Tourism Association,

Wayne Cummings, said the

decision to host the event
in the tourism-dominated
province has ensured that
“every hotel bed of note is
occupied” at present in
Montego Bay.

Around 1,300 delegates
have registered for the

ple in total have come to
the area due to some level

SEE page 5B

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

Damianos



THE TRIBUNE

usiness

TUESDAY,

: By NEIL HARTNELL
Tribune Business Editor

Marathon Bahamas gen-

i erated a “significant” 2,500
? extra room nights for the
? Bahamian hotel industry
: during one of its slowest
i periods, the event’s lead
: Organiser said yesterday,
? telling Tribune Business it
? had “just scratched the sur-
i face” of its commercial
i potential.

Franklyn Wilson, who is

: also chairman of Sunshine
i Insurance, told this newspa-
; per the Bahamas had an
? Opportunity “to get tremen-

SEE page 5B

By NEIL HARTNELL
: Tribune Business Editor

A leading Freeport attor-

i ney yesterday said he had
i been approached by various
i Grand Bahama Port Author-
i? ity (GBPA) licencees to initi-
? ate Judicial Review proceed-
i ings against Customs over the
? ‘bonded letter’ controversy,
i telling Tribune Business the
i revenue collection agency
i “does not have a leg to stand

on” based on his review of

i existing statute law.

While noting that his opin-

SEE page 4B

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JANUARY :

2011

Marathon’s 2500 nights
put hotels on fast track

_ Mi Sunshine chief says ‘significant’ boost for tourism industry at one
Alowe@tribunemedia.net 7 of slowest periods
: i Says Marathon Bahamas has ‘just scratched the surface’ of

_ economic potential, and ‘sky's the limit’

_ Hi Race and Susan Komen event get ‘really influential and impactful
2 people thinking about the Bahamas’ for economic spin-offs



CUSTOMS ‘DOES NOT HAVE
A LEG 10 STAND UPON’

_* Leading attorney approached to

_ initiate action against revenue collector
event, and up to 2,000 peo- 2 over NIB ‘bond letter

_ * Argues Freeport being subject to

- ‘regulatory strangulation’ and ‘thrown
_ into chaos’ at worst time

_* Calls for ‘more efficient’ Judicial

| Review process

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ete its hy eel)

Govt ‘nets’ $300k
through Business
Licence reforms

* Reduces tax rates to 0.5% for construction, hotels,
petroleum and food wholesalers, meeting concerns
but giving up $2m inrevenue

* Amends Act to give statutory appeals process

* Removes collected occupancy taxes from turnover

definition

* Pledges seven-day response to licence applications

By NEIL HARTNELL

Tribune Business Editor
and TANEKA THOMPSON

Tribune Staff Reporter

tthompson@tribunemedia.net

The Government is expect-
ing to earn a net $300,000 rev-
enue increase from reforms to
the Business Licence Act and
its taxes, a government minister
said yesterday, confirming that
the rates for industries such as
construction and the hotels had
been adjusted downwards by
0.25 percentage points to

reflect their concerns.

SEE page 4B

ZHIVARGO LAING



BISX TARGETS FIRST QUARTER FOR
SECURITIES DEPOSITORY END

By NEIL HARTNELL
Tribune Business Editor

The Bahamas Interna-
tional Securities Exchange
(BISX) is “on target” to
complete the implementa-
tion of its Central Securities
Depository (CSD) in the
2011 first quarter, its chief
executive told Tribune Busi-
ness yesterday, adding that it
would “go a long way” to
raising this nation’s finan-
cial profile.

“We have set a target date
for the substantial work to

Facility to ‘go a
long way’ in
raising Bahamas’
financial profile

be completed, and have it
functional, if not near func-
tional, during the first quar-

ter of this year,” Mr Davies
told Tribune Business of the

SEE page 4B

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PAGE 2B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





COLLEGE OF THE BAHAMAS



VITAL TO THE FUTURE: The front entrance of the College of the
Bahamas.



new national stadium.

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WORK IN PROGRESS: Progress continues on the construction of the

Major investments that
need right foundations

BY LARRY GIBSON

arly Saturday

morning, I had

the opportunity

to drive through
the Oakes Field area and was
captivated by the imposing
presence of two structures. The
first was the Harry C. Moore
Library and Information Cen-
tre on the grounds of the Col-
lege of the Bahamas (COB),
and the second was the Nation-
al Stadium virtually next door.
My mind readily concluded that
these two superstructures will
form the foundation of our edu-
cational and sports policies,
respectively, for many years to
come.

Importance of COB

I fundamentally believe that
growth and the transformation
of our economy is inextricably
tied to our ability to produce a
well trained workforce. A
workforce that not only pos-
sesses the skill-sets required by
industry today, but a workforce
that is sufficiently trained to be
adaptable and capable of being
retrained for future demands.
Studies have long confirmed
that a trained and educated
workforce leads to increased
productivity and innovation in
this ‘new economy’. It is no
longer about producing bodies
for the workforce but, rather, it
is about producing productive
workers who provide value-
added benefits to employers.

These are the shoes that
COB and, to a lesser extent,
other fully accredited tertiary
institutions must fill. I would
encourage my readers to visit
COB’s website:
http://www.cob.edu.bs/ and
download and review the doc-
ument entitled College to Uni-
versity — Strategic Plan 2009-
2019. It is an excellent and com-
pelling document that outlines
how a University of the
Bahamas (UOB) intends to
make its contribution to nation-
al development.

The following excerpt from
the strategic plan sums up
COB’s proposition: “Across the



world, prosperity is increasing-
ly linked to national capacity
to meet global challenges, to
innovate and develop new
products and services. Nations
now look to their universities
as places where talented
researchers, students and entre-
preneurs work together to
develop products and services,
which later become new busi-
nesses and new social policies.
In Latin America and the
Caribbean, it has been estimat-
ed that 85-90 per cent of knowl-
edge is generated by universi-
ties. The University of the
Bahamas will be a driver of
innovation, developing prod-
ucts and processes which lead
to a substantial improvement
in those products and processes,
to the benefit of public and pri-
vate sectors.”

Concern

However, one significant
concern I have is the fact that
our basic education system at
the primary and secondary lev-
el is in need of a major over-
haul. For COB/UOB to suc-
ceed, we need a public educa-
tional system that produces
quality feedstock. Are we pre-
pared to open COB to large
numbers of foreign students
and provide financial aid in
order to maintain the required
quality of incoming classes?
Diversity is a desired quality in
college environments, and we
seem to understand this argu-
ment well when it comes to our
children getting spaces, finan-
cial support and other oppor-
tunities at institutions abroad.

Financial

ia eum alee!

But have we opened our minds
to the benefits of international
students at COB?

Simply put, we must produce
sufficient high school graduates
who can meet the requirements
to gain admission into - and
succeed - at COB or any quali-
ty tertiary level institution. We
all know that our basic educa-
tional system is broken, yet we
continue to deny this and are
quite content to apply band-
aids to a ‘gaping and very
infected wound’ every couple
of years. This is not good
enough. I don’t want to give
the impression that I am being
unfair on the public system. For
many years now, I have ques-
tioned why the parents of so
many private school students
have to pay for extra-tutoring in
mathematics, sciences, lan-
guages (including English) and
so forth, on top of the $4,000
to $17,000 per annum that pri-
vate high schools charge.

We really need to ask our-
selves some very fundamental
questions about the state of
education in our country today.

National Stadium

The enormity of this com-
plex caught me by surprise.
When the entire Queen Eliza-
beth Sports Centre (QESC) is
completely developed, we will
have something that is truly
amazing for a country of our
size.

However, what is needed to
augment QESC is a dormito-
ry/residential complex. I under-

stand that a key component of
the master plan is the hosting of

regional and international
events. However, we are not a
destination that has an abun-
dance of $50 per night rooms.
The business plan for the
Atlantis’s and Baha Mar’s of
this world does not contemplate
the ‘four to a room, $50 per
room, per night crowd’, hence
my call for a residential com-
plex.

The obvious operator of such
a complex would be COB’s
School of Hospitality, which in
addition to being adjacent to
QESC, already has the restau-
rant facilities and commercial
kitchens in place. Therefore, it
may be necessary to make addi-
tional public investment before
the existing project has a
chance of being financially
viable, notwithstanding the Chi-
nese donation of the facility.

Furthermore, I reckon that
the annual upkeep/maintenance
bill alone will be about $2-3 mil-
lion per year. Where is the rev-
enue going to come from to
support the operating cost of
this facility? How much rev-
enue can we reasonably expect
to generate from the stadium?
Also, nobody is talking about
the cost of infrastructural devel-
opment that the Government
must bear in and surrounding
the stadium. Do we have a final
cost on these? These are but a
few questions that readily come
to mind.

Until next week...

NB: Larry R. Gibson, a
Chartered Financial Analyst, is
vice-president - pensions, Colo-
nial Pensions Services
(Bahamas), a wholly-owned
subsidiary of Colonial Group
International, which owns
Atlantic Medical Insurance and
is a major shareholder of Secu-
rity & General Insurance Com-
pany in the Bahamas.

The views expressed are
those of the author and do not
necessarily represent those of
Colonial Group International
or any of its subsidiary and/or
affiliated companies. Please
direct any questions or com-
ments to
Larry. Gibson@atlantichouse.co
m.bs

BFSB hosts tax seminar

from 25th - 29th January

Winchester Street Palmdale,
(between Sears Rd. and Hawkins Hill)

Call 322 - 3857 or 422-4701
's¥- aa emen ag)

Best Prices in Town!



JOY TEGTMEYER

LAWRENCE LEWIS JUN LI JUN MELINDA T. SCHMIDT

Client Advisor — Brazil Desk

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



The Bahamas Financial Services Board
(BFSB) and the Association of International
Banks & Trust Companies (AIBT), in partner-
ship with Deloitte & Toiuche, Ernst & Young,
KPMG and PricewaterhouseCoopers will host
a half-day roundtable today on key US tax ini-
tiatives impacting cross border financial services.
A particular focus will be the Foreign Account
Tax Compliance Act (FATCA) provisions, now
a part of the US HIRE Act.

FATCA is a major move in the US tax
enforcement focus on so-called ‘offshore’ issues,
requiring information reporting about offshore
assets that is backed up by penalties. Foreign
banks must either agree to disclose information
about US investors or be subject to a statutory
withholding regime.

Focused

The Internal Revenue Service (IRS) has said
the 2001 Qualified Intermediary (QI) system is
not without its limitations, being focused mainly
on ensuring that withholding tax relief is appro-
priate, and with almost no detailed information
flows from the QIs to the IRS about the identity,
income or overall tax position of any account
holder.

Not all foreign financial institutions choose to
be a QI.

IRS commissioner Douglas Shulman has
described FATCA as “the most important devel-
opment in international information reporting
in a generation. It is a big step forward in our
efforts to reduce tax evasion by creating trans-
parency and accountability in the offshore finan-
cial markets”.

The four majort accounting firms are jointly
coordinating the BFSB roundtable discussion
that will focus on compliance implications in the
new environment.

The BFSB hopes members will be empow-
ered to review/grow services to non-US persons
who have a US connection, as well as US clients

who increasingly are looking at diversification
of portfolio and currency positions, and overall
risk management.

The Presenters will be representatives from
the sponsoring firms:

* Lawrence Lewis, partner, Deloitte
(Bahamas)

* Jun Li, tax senior manager, Ernst & Young

* Joy Tegtmeyer, director-international tax
services practice, PricewaterhouseCoopers

* Melinda T. Schmidt, director, KPMG LLP

Lawrence Lewis has more than 16 years of
professional experience in public accounting, risk
advisory and management consulting services.
He leads Deloitte's enterprise risk services prac-
tice, and serves as the FATCA programme leader
for the Bahamas.

Jun Li Jun is a New York-based senior man-
ager in Ernst & Young's national financial ser-
vices asset management tax practice. He has
experience in the fmancial services industry, serv-
ing asset management clients in the areas of
hedge funds, private equity and international
banks.

Melinda T. Schmidt provides advisory services
to domestic and foreign financial institutions
with a focus on US tax information reporting
and withholding requirements.

Joy Tegtmeyer practices in the firm's New
York office. She has been with PwC for over six
years, serving primarily financial services clients
msuch as banks, broker dealers, alternative
investment funds, mutual funds and investment
managers. She advises clients in addressing inter-
national tax matters such as tax planning for
cross-border acquisitions, dispositions, and reor-
ganisations, withholding taxes, permanent estab-
lishment issues, treaty interpretation, global effec-
tive tax rate planning, controlled foreign corpo-
rations, passive foreign investment companies,
and effectively connected income.

The event will be held in the Governor's Ball-
room of the British Colonial Hilton Hotel.
THE TRIBUNE

TUESDAY, JANUARY 18, 2011, PAGE 3B





IED ae rrelita me ceraik

for BFSB summit



Taxation policy as
it relates to Interna-
tional Financial Cen-
tres (IFCs) will be
one of the key areas
of discussion at the
Bahamas Financial
Services Board’s
(BFSB) Internation-
al Business &
Finance Summit,
scheduled for Janu-



SIMON BECK

BRIAN SEGAL

benefits that are on the negotiation table for small IFCs, what
taken by IFCs today.

ica, Canada and the US.

and financial centres. His practice also includes US federal and
international securities and banking regulations.

ry, legislative and strategy issues, and regularly conducts training

matters, particularly in the cross-border area.

including planning, documentation and audit defense.
Melinda T. Schmidt is a tax director at KPMG , where she pro-
vides advisory services to domestic and foreign financial institutions,

such as IRAs and education savings.

meet a variety of Bahamian service providers.
BFSB chief executive Wendy Warren said that having deter-

responsive to client and market requirements.

as a leading international centre for business and finance,.”

IBFS, as its precursor event, spurs discussion and debate about }
the industry with a focus on trends and the future. Armed with this
: £100 (US$154) to £150
i (US$291) for premium

“With clarity of objectives, the jurisdiction has a better oppor- economy, business and first-

knowledge, the Bahamas is better positioned to be nimble and
responsive.

tunity to succeed,” said Ms Warren.

i By ALISON LOWE
ary 21-23 in Freeport. Panelists involved in the tax developments | Business Reporter
session will discuss the main principles that drive the tax policy and { Alowe@tribunmedia.net
negotiation of Double Taxation Agreements (DTAs) by key G-20

countries. Comparing and contrasting DTAs, they will review the :

MONTEGO BAY,

| [ 4 i Jamaica - The Prime Minis-
this promises for the next 10 years, and what action should be } ter of Jamaica threatened

Panelists include Simon Beck and Brian Segal, partners at Bak- 7 ie See siren
er & McKenzie, along with Melinda Schmidt, director of KPMG. ath 7 ied Kana
They will look at these issues from the perspective of Latin Amer- } 4M the United Kingdom on
i Sunday evening in the lat-

Baker & McKenzie partner Simon Beck is an international tax i est development over a pas-
and trust lawyer with vast experience working in the world's trust }
i ened British
i arrivals.

He advises financial institutions and governments on regulato- }

senger tax that has threat-
tourism

The Air Passenger Duty

sessions for executives on trust, tax, banking and securities issues CED) tas which Bahariian
Brian Segal is a partner with the law firm of Baker & McKenzie, : Minister of Tourism, Vin-

practising in the firm’s Toronto office. His specialty is income tax cent Vanderpool-Wallace

: has previously condemned

He has been involved in transfer pricing strategy and dispute res- } aS unfair, went into effect

olution, handling all phases of pricing matters over the years, }
: government sought to find
: ways to collect much-needed
: : ms, ; revenue.

with a focus on US tax information reporting and withholding }
requirements. Her focus includes the QI program and FATCA, and i + gions have been grouped

withholding and reporting requirements for tax-favoured accounts, into different “bands”, and
The Summit has been designed to encourage and empower ; the Caribbean - including
business development in the Bahamian financial services industry. | the Bahamas and Jamaica -

It will also profile the Bahamas to international advisors and } have found that passengers
clients attending the event, providing them with an opportunity to ;
i? now being asked to pay
i more tax to the British gov-
mined the Way Forward through its strategy development process, } ermament than those visiting
the organisation is encouraging industry stakeholders to work : the US.

towards creating the environment required to be a jurisdiction }

earlier this year as the UK

Under the tax, different

coming to the islands are

New APD rates came into

Ms Warren said of IBFS: “It serves to achieve the two primary ; ees 1 at 2

roles of BFSB: the development and the promotion of the Bahamas

i (US$77) to £75 (US $115)

for economy-class travellers
to the Caribbean, and from

BAHAMAS HUMAN RESOURCES
DEVELOPMENT ASSOCIATION

‘Igniting a Passion for the HR Profession’
Executive Team 2010-2011

Annette Cash = President

class passengers. The
Bahamas and the Caribbean
have been lobbying the UK
government to reconsider
the tax, saying it will hit hard
UK tourist bookings to their
islands.

Speaking at the opening
ceremony of the Caribbean
Marketplace tourism trade
show in Montego Bay,
Jamaica, on Sunday evening,
Prime Minister of Jamaica,
Bruce Golding said his gov-
ernment “still maintains (the
APD) is manifestly unjust
to the countries of the
Caribbean” and _ has
“worked hard to impress on
the UK government that it is
not fair”.

Mr Golding himself, along
with other regional leaders,
have personally travelled to
the UK to lobby the British
government on the issue.

“Making supplications
and going to London plead-
ing are not the only options
we have. There are other
options the Caribbean may
have to consider against
something which we believe
may be in conflict with
established global trading
standards...No option will
be left off the table. Let it
be understood, we will
secure justice in this matter
one way or another,” said
Mr Golding, in comments
which most took to mean
the Caribbean could lodge
a complaint with the World
Trade Organisation (WTO)

against the tax on the basis
that it is discriminatory.

Mr Vanderpool Wallace
had no immediate comment
when asked to respond to
Mr Golding’s statement that
evening, but he has previ-
ously said the Bahamas sup-
ports Caribbean efforts to
push the UK government to
reconsider the matter.

The Bahamas is not as
reliant on UK tourist
arrivals as Jamaica, but such
visitors do traditionally
spend longer in the country
than American visitors,
meaning that those who do
come generally spend more
money in the country.

In an interview with Tri-
bune Business yesterday,
Jamaican Minister of
Tourism, Edmund Bartlett,
sought to downplay his
Prime Minister’s comments,
telling this newspaper the
UK is expected to make an
announcement on a review
of the tax in March.

Trade dispute hint
a over UK’s air tax

“We don’t want to go in
with the big stick first,” he
quipped. “I think we want
to go easy on that because I
think the UK government is
looking at a review. They
are expected to make a
statement on APD reforms
in March, and there is quite
a bit of speculation as to
whether APD will still be in
existence or it will be some-
thing else.

“What is clear is that their
desire to have £3.8 billion
pounds remains. What we
have been tying to drive
towards is a design change
that will allow the destina-
tions to be re-banded so that
the destinations of the
Caribbean will not be put at
a disadvantage, let’s say,
against the US, while at the
same time recognising the
need the UK has to reduce

the debt.”





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Invites qualified applicants for the following position:-

TRADER

Jets Cah wo ichectod Preaihens. Anes i possionaie abrat the Humem Kiewroress Pek and me an aadlwn-
cane for people development. She believes in the mii that "sooces: hb mole utilization of the abilike
you borer.” Annette sere ga Manager, Human Keseerses 2 TL ronning al Hirnk of 1b Giabeomas. Her cancer
spams more than lL pears of HE experenice. She bolls a Bachelors Degree in English from the Uaiversin
of the Wieret Bodeee aed a Mioxtere Degen in Human Peesources agement Grom the Uniweraiy of Mon-
chester, Manchester Englamd. She is also a trdined wacher. Annetie is raeried 40 Darron B. Cash and they
have one som, Jonathan.
Cheryl Bain - Vice President, Programs EDUCATION AND EXPERIENCE:-
Chant Hain ove coon Viet Preeken, Programs. It
thened fer education ai Shaw College. “Tora, Canach, She holds a diploma om Busines.

Bain aterded Bahamas Baptist College and fer
ae -At least five (5) years trading experience,
-In-depth knowledge in trading:-
World-wide Shares
Third party funds
Bonds
Options
Futures
-Ability to speak'write French would be an asset.
«Bachelor's Degree m Finance or related subject.
-Series 7 certification.
-Profictency in a vanety of software applications including Microsoft Ottice Suite.

tethen. Chem! is ako o corified Peofeeional Resume Writer ACK) Ms. Bains poodewd oma
purreds over 2) years, hoving sereed in semen moragemecrt capacities al inte Areercon Irewranee Liom-

Caiecr ce

a pany aid Manulife lnsiunce (nee Colina lasimance) Ms. Bain is preenily employed as Celice Manaps
j gel A at the law fiom of McKoy, Bancrofi & Hughes where che has been empkeved fer the past 05 pears

Marisa Mason-Smith — Vice President. Education

Marisa Mason-Sorh eras elected Vice Preadens tor Bducation. She is a dynamic motivasonal trainer and
facilitator and strmgly believes in developing people, She bolds a GeSe, oe feboreegermeet aed HAM fren
Florida Aulantic Unewersiny aid a Masters Degree i Hien Reson

of Manchester, Manchester, England. Marne has represeeied The Bakers af ecreral international confer

cet Development from dhe Universiry
enees and seminars. She i also a past preident of PERO. Marisa ounenth bolls che prestigics national
ile of “Hows of The Yes” ard serves as Mlomager for Homan Resourcm al Training af the Haharrers Elec.
incwy Corporation

Rachel Rolle — Vice President, Public Relations

ar Kachel Rolle woe elecied Voce Preadent, Publc BKelations, She bok a BEA mm Persone! Management
‘ fron Placid leterored Univerty and a W5c.in HR. Mana pester! from Nova Souheastem Ueivernity
mm aiditinn Ge aeveral ciher certificrtes, Her career in HR gpans ower bh years both, locally and priermatina-
ally i maigger Gor HR. and Traitsng oad Developement. ci pericieced rains al obecator abe: ba also
creght of aereral terry institutions, Hache! cumemily sarees a Manager, Mena ot dw Mosc Apert Dh-
Pdlopment Crenpoey. Rackel is a eolunteer Literecy Toter and acter who's kad for ber rocket oe slag a RE
he Launadas

UIRED SKILLS:-

Villiemae Black - Vice President Membership

-Ability to work independently,
-Strong organisational skills.
“Commitment to excellent customer service,

Williemae Black was elecied Vice Presiden, Membership. She belleves thai "people are our mast imporian
rani” Willis bee over DD) oars of eetperecact in HE. She serves os Adee!) Mangeer, Homan Ke-
somes al the Bohamas Llectocity Compommon. Vilbemee bolts a Hachelor: Degree in Psy chology from
Rethine Conlin College. She ako bolls a Masten Degree mm Haman Sovicss from Nova Univer an
MEA trem the Ueive

wersaty. She has o som.

-Must be a team player.

-Excellent oral and written communication skills.
-Excellent problem solving skills.

-Ability to work under pressure and to meet strict deadlines.

oer of Miami, and acenifeoate in HR Adin ettion from Flora Ineeniatronal Lai

Chrishyn Benjamin - Secretary

t

Alanna MectC*artney - ‘Treasurer

i

Chosen Fenpenin waselected Sector. Chnelyn, i Managerot Humen Resarencecs at the Sandilands He-
hablar Cente: and has worked a HE ace WS in everal powerement minisine She has a pongion
ber the eouth of this gation aed serves on the emecgtive team of the | a5 AT. boundatiog. She bokis.
a Bachelor depres i Hic Meg emcel_ a later of Science De gees im Homan Reson Managemen!
hen feo Sarotheasiem Leiverenty, ane a cerca mm HE Acdminatracon trem Hiomids betrayed |! m-

Please hand deliver Resume and two (2) references to:-

The Human Resources Manager

Bayside Executive Park
Building No. |
Nassau, Bahamas
ped, brings a 4 APPLICATIONS MUST BE RECEIVED BY FRIDAY, JANUARY 28, 2011
See a ABSOLUTELY NO TELEPHONE CALLS WILL BE ACCEPTED
corm Carding at Pembeoke. Her cancer in HR
uiied. Techy she is the Senioe Méborosger.

Ferity. She is marreod and bers 40 sms

mesh perepecting: in the tase of Chrgan-

Human Reeoumecs

" med to Mir, Leen Mot anney amd they have
free chikinn

Offices in

Lousanae, Gene, Zurich, Decembourg, London, Mowtreal, Nexsaw, Singapare, Tokyo, Hong Korg,
Framkfiert, Florence, Milan, Madrid, Paris, Rome amd Turie

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


PAGE 4B, TUESDAY, JANUARY 18, 2011

THE TRIBUNE





CUSTOMS ‘DOES NOT HAVE
A LEG 10 STAND UPON’

FROM page 1B

ion was subject to any changes the Government might seek to
make to existing laws, and of which he was not aware, Fred
Smith QC, the Callender’s & Co attorney and partner, told this
newspaper that Freeport was being subjected to “regulatory
strangulation” at the worst possible time given its economic con-
dition.

Arguing that Customs’ move to link approval of GBPA
licencee ‘bond letters’ to production of National Insurance
Board (NIB) Letters of Good Standing had “thrown everything
into chaos”, Mr Smith said the move had deprived licencees of
their legitimate rights to buy bonded or duty-exempt goods,
depressing sales for Grand Bahama retailers and wholesalers.

Govt ‘nets’ $300k
through Business

FROM page 1B

was being heard, many feared continued damage to their firms ;

in the absence of a bond letter.

Efficient

Calling for a more efficient Judicial Review process in the }

Bahamas, Mr Smith said he was pleased to see the Grand

Bahama Port Authority “stepping up to the plate and sup- :

porting the rights of licencees”, following Tribune Business’s

publication last week of a letter by Ian Rolle, its president, to }

the Prime Minister urging that the NIB/bonded letter situation
be resolved.

“This is a partnership between the Government, the Port
Authority and the licencees, and I’m very pleased the Port

Authority reached out in this fashion to the Government,” }
Mr Smith said. “I do hope between the three partners there can }

be some resolution to the total chaos that exists in Freeport.

“Freeport continues to be in the economic doldrums, and we }
need flexibility for our businesses to continue to survive, not }

regulatory strangulation.”

Analysing the legal basis for Customs’ decision to tie ‘bond- }
ed letter’ issuance to NIB Good Standing, Mr Smith told Tri- }
bune Business: “From a legal perspective, Customs does not }
have a leg to stand on. There is no provision in the Customs }
Management Act, no provision in the Hawksbill Creek Agree- }
ment, and no provision in the National Insurance Act that }
allow Customs or NIB to act in this way. It is a complete }
breach of the Hawksbill Creek Agreement, and something }

serious needs to be done.

“T can say that I have been approached by a number of :
licencees to bring an action against Customs on this issue. }

Some are concerned about political intimidation and do not
want to be at the forefront, and others are uncomfortable issu-
ing proceedings.

“The problem with the inherent delay in the judicial sys- }

tem is they fear that if they do not obtain an NIB letter, their
businesses will be affected. This highlights the need for a more
efficient process in the judicial system.”

Mr Smith added: “I have already been critical of delays in the
Judicial Review process, which have been so prejudicial to the |
hearing of matters such as Save Guana Cay or Responsible }

Development for Abaco on the BEC Wilson City issue.

“T was very glad to see Mr Glinton was able to obtain a
speedier Judicial Review for the Heasties and the other people }
involved with the matter in Nassau. I hope Judicial Review is }

given the priority in the Bahamas as it is elsewhere.”

Asked about the problems the NIB/*bonded letter’ issue
had created for Freeport, Mr Smith said: “First of all, it creates
uncertainty in doing business and it throws everything into :

chaos.

“Secondly, it is depriving legitimate licencees of the oppor- :

tunity to purchase duty exempt goods that are much needed at
this time in Freeport for their businesses.
“Third, it is depriving retail sellers - Dolly Madison, Kelly’s

Zhivargo Laing, minister of state for
i finance, said that in adjusting the Busi-
: ness Licence tax rate downwards from
: 0.75 per cent to 0.5 per cent for four
industries - construction, the hotels,
: petroleum wholesalers and food whole-
salers - the Government would forego
: a projected $2 million increase in taxes.
: Speaking to Tribune Business after a
i press conference to announce the latest
: Business Licence Act amendments,
: which were unveiled to the business
: community at a Town Meeting last
? night, Mr Laing confirmed that among
; these were “adjustments to the rates
? we were determined to levy on four
: industries that expressed about the
: impact. We have made some adjust-
: ments to these rates, so there are no
increases of any significance whatso-
ever”. The construction industry has
already indicated its pleasure.

Mr Laing said the Government had
moved to reduce the Business Licence
taxes that would be paid by the four
industries to “what most of them would
: have been paying under the old
regime”.

: Emphasising that the Governmen-
: t’s intention behind the Business
i Licence Act reforms was not primarily
? to increase revenues, Mr Laing said:
: ‘The result of the new calculation
: means that some people will be paying
i less, some people will be paying more,
? but we always intended it to be rev-
? enue neutral. In the totality of the exer-
cise, I think it came down on a net
? $300,000 positive for the Government.”

The minister also confirmed that the
Government had amended the Act to
allow for a clearly defined appeals
: process, whereby a business denied a
licence could take the Revenue Sec-
retary’s decision to either the Business
Licence Review Board or the Supreme
: Court.

“We’re proposing amendments that
? will ensure people can appeal to the
: Board in one instance, to the Supreme
? Court in one instance, and decision of

and Bellevue Business Depot - from earning income on duty }

BISX TARGETS FIRST QUARTER FOR

The Callender’s & Co QC added: “Despite victory after vic- |

exempt sales.

“All around, it is a very bad and illegal thing that Customs has
engaged in, and the challenge for Freeport businesses is that
without an effective recourse to the courts, this raw abuse of
power by the executive, which interferes with licencees, goes
unchecked.”

tory against Customs and its abuses, Customs continues to }
ignore the judgments rather than treat them as applying across }

the board to licencees.

“The further negative repercussion for Freeport is that

prospective investors see that the rule of law does not exist in }

Freeport.

“Justice delayed is justice denied, and for Customs to hold

people to ransom is regrettable.

“Tt continues to create uncertainty in the business environ- ;

ment, and that is always bad for business.”

SAINT AUGUSTINE’S
COLLEGE

2011 ENTRANCE EXAM

The Entrance Examination for
students wishing to enter Grade
Seven at St. Augustine's College for
September, 2011 will be given
Friday, January 23°, 2077

Deadline for registration for this
examination is Friday January 22°59011

Eligible students
their Primary Schools or at
St. Augustine's College. ONLY
Students in Grade Six will be
allowed to sit the Entrance Exam.

may register at



“The result of the new
calculation means that
some people will be pay-
ing less, some people will
be paying more, but we
always intended it to be
revenue neutral. In the
totality of the exercise, I
think it came down on a
net $300,000 positive for
the Government.”



Zhivargo Laing

the Secretary for Revenue, yes,” Mr
Laing told Tribune Business. “That
was one of the concerns - that there
appeared to be no appeal of his deci-
sion, at least in law.”

Sharlyn Smith, an attorney with
Sharon Wilson & Company, told Tri-
bune Business last year that Section 7
in the Business Licence Act gave seem-
ingly "extremely wide" powers to the
Revenue Secretary to cancel, revoke or
suspend a company's Business Licence.

Expressing fears that this could be
used as a ‘victimisation’ tool, Ms Smith
added that the Act did not stipulate
for what period a company's licence
could be suspended, and pointed out
that the legislation'’s wording appeared
to not permit any appeal to the Busi-
ness Licence Review Board.

While this Board was to be formed
to hear all appeals against a decision
made by the Revenue Secretary, the
Act's wording only allows appeals
under sections four, five, 11 and 21 of
the legislation - not section seven,
which is what gives the Revenue Sec-
retary the power to suspend, cancel
and revoke a company's business
licence.

Meanwhile, Mr Laing told Tribune
Business the Government had also
amended the Act’s definition of

Licence reforms

He added, though, that many businesses were reluctant to }
turn to the courts for redress because of the often-lengthy pro- }
ceedings involved in Judicial Review hearings. While the case }

turnover to remove occupancy taxes
collected, a key concern of the hotel
industry.

“There is an amendment to the def-
inition of turnover that takes account
of the fact that occupancy taxes col-
lected not be counted as turnover. That
was one of them,” he added.

Mr Laing reiterated that the Gov-
ernment’s overriding objective was “to
make it easier to do business”, pledging
that under the reforms, once the appli-
cation form was completed and all oth-
er necessary permits (health, environ-
mental) were obtained, a new Busi-
ness Licence applicant would “hear
from us” at the Ministry of Finance
within seven days.

Businesses did not need to apply for
a licence renewal every year, instead
just file their annual returns, and mul-
ti-licence bureaucracy, such as the
Liquor Licence, Shop Licence and
Music and Dance Licence had all been
eliminated.

“We think we’re bringing some order
to the process,” Mr Laing said. “We
have a much simpler way to calculate
the taxes. I think we have made some
progress.”

The Government has also had some
success inits revenue collection strate-
gies, finding decades of arrears in busi-
ness licenses fees and real property
taxes,

"We think we're making progress in
areas where we believe we were not
as focused and as efficient as we could
be, not as much progress as we need to
make but we've been making some
progress. Next month we are going to
have the mid-year Budget exercise and
we are going to have a full-disclosure,"
said Mr Laing.

He noted that revenue collecting
officers recently put in place have had
success in netting the government out-
standing real property taxes on prop-
erties that were listed as vacant but
really had $14 million homes built on
them in some instances. The team has
also been successful in tracking down
businesses who have not paid license
fees in “decades”.

SECURITIES DEPOSITORY END



FROM page 1B

CSD’s status, when ques-
tioned by this newspaper.

“That is my stated plan,
and we’re still on target. We
have a plan, the plan is being
implemented precisely, and
so far so good. We are con-
tinuing.”

The CSD, which is jointly
owned by BISX, RoyalFi-
delity and CFAL, each hold-
ing one-third of its equity,
is a vital back office compo-
nent to the integrity and
smooth functioning of the

Bahami ital k
KEITH DAVIES ahamian capital markets,

NOTICE
SANDBERG LIMITED

NOTIC EIS HEREBY GIVEN as follows:

(a) SANDBERG LIMITED is in voluntary dissolution
under the provisions of Section 137 (4) of the
International Business Companies Act 2000.

(b) The dissolution of the said company commenced
on the 14th January, 2011 when the Articles of
Dissolution were submitted to and registered by the
Registrar General.

(c) The Liquidator of the said company is Blue Seas
Administration Ltd., The Bahamas Financial Centre,
Shirley & Charlotte Streets, Nassau, Bahamas

Dated this 18th day of January, A. D. 2011



Blue Seas Administration Ltd.
Liquidator



providing clearing and set-
tlement services for all share
trades, and maintaining all
shareholder registers. It will
do this electronically.

Emphasising that the CSD
would “reduce system risk”
associated with the clearing
and settlement of all listed
securities traded in the
Bahamas, Mr Davies said of
its benefits: “For me to
speak about increased effi-
ciency and speed, that is not
something the average
investor will immediately
notice.

Settlement

“The thing the CSD
brings to the forefront is a
finality of settlement, so
when a transaction occurs
you are assured that the
securities go from person A
to person B. You are
assured the monies related
to the transaction go from
account A to account B. A
CSD essentially reduces sys-
tem risk in the marketplace.
Once you have that finality,
it reduces the risk and
speeds up the manner in
which transactions occur. At
the end of the day, there is
no argument; the trade just
settles.”

Mr Davies told Tribune
Business the CSD would
also provide “higher securi-
ty for the beneficial owners
of securities”, maintaining
their “definitive ownership”.

“Shareholders have their
names appear on the regis-

ter, and there is no dispute
over who owns the shares,”
the BISX chief executive
said. “It makes the overall
market better for everyone.”

He added that it also sup-
ported other financial trans-
actions, such as the ‘pledg-
ing’ of securities as collater-
al to banks or other financial
institutions to obtain loans.
This would be recorded by
the CSD, protecting both
banks and share owners,
reducing their risk.

“These are the things that
countries are rated on inter-
nationally, and having some-
thing that is secure, modern
and electronic goes a long
way to increasing the finan-
cial profile of a country,” Mr
Davies told Tribune Busi-
ness.

Describing the CSD as
one of BISX’s major pro-
jects for early 2011, Mr
Davies said others included
the further development of
BISX’s Rules and the list-
ing facility for small Bahami-
an businesses with a market
capitalisation of less than $1
million.

As for other activities, Mr
Davies said: “We do believe
that this year will see some
activity we have not seen in
the past, so we look forward
to that in due course.”

The BISX chief executive
said the CSD’s implementa-
tion involved software, hard-
ware and database issues,
with the process aimed at
ensuring all three arrived
smoothly at the same place.

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